Updated on February 28, 2019
Being bankrupt is not something that anyone can survive without having their entire lives and lifestyles turning upside down. It certainly sets you on a very different path for your future than the one that you have probably planned for yourself. This is what makes filing for a bankruptcy case very stressful.
However, once that phase passes, you need to quickly get your life back on track. But how can you do so? Well here are 10 helpful tips from one of the most reputable attorneys, Walter Benenati, that can help you achieve just that!
- Restore your credit score- Since bankruptcy makes your credit score drop to 0, it is important to start establishing it immediately. This can be done by lengthening the credit history and getting secured credit cards for yourself.
- Set up a savings account- Bankruptcy is often a result of the occurrence of an unexpected event. It can lead you to depend on your credit card or payday loan companies for necessary expenses, which can sometimes lead your debts to blow up. Therefore, to avoid such a thing from happening, it is wise to oven a savings account and regularly feeding it with certain amounts of money. Try to keep this account intact for as long as possible.
- Create budgets- One of the main reasons for bankruptcy is often the careless use of your finances. Spending more than you can afford is the cause of improper planning and budgeting. To make sure such a thing does not occur again, you need to create proper budgets for yourself. The budget must allow the creation of some savings, which can help you in the future, lest another unexpected event occurs again.
- Repay loans regularly- When a bankruptcy case is filed, the unsecured debts are eliminated or discharged. This can help you to start afresh by regularly paying off credit card balances and other acquired loans.
- Keep in mind the reason for bankruptcy- You must be able recognize the reason behind your bankruptcy. By evaluating your previous financial activities and spending habits, you can pin point exactly what mistakes you made and risks you took. Once the problem has been found, you must create strategies to effectively save yourself from repeating the same mistakes again.
- Do not make big purchases- The wise way of handling your bankruptcy is to learn from your mistakes and refrain from doing them again. The habit of making unnecessary big financial purchases is one of those habits which you must not indulge yourself in. If you feel you have money to spare, use it to repay your debts, rather than creating more debts for yourselves.
- Know your lending limit- After bankruptcy, if you have an urgent need of finances and therefore wish to borrow again, you must try to lend only as much as you can handle. One rule of borrowing states that ‘borrow an amount which is not more than your monthly income’.
- Maintain credit score- You should always keep in
Posted on January 14, 2019
Business set up in Abu Dhabi airport free zone comes with great advantages for the businesses. This is done basically to attract more and more people towards starting their business setups.
The economy of UAE is relying right now upon tourism and business development. This has increased the importance of UAE for the business sector t a great extent. People are loving it in here and they are that is why looking forward to business setup in Abudhabi as much as ever.
Why do people prefer the free zones?
People prefer free zones over other places from business setup in Abu Dhabi because there, they do not have to pay VAT. This encourages people more towards the free zones because ere all the profit will be just theirs and the government will not have any interference in the money.
For the sake of company formation Abu Dhabi in any free zone, you need to take some steps click here. So, for the company formation in Abu Dhabi airport free zone, you will have to carry out the following steps
Decide the legal structure of your company
The legal structure has a lot to do with your free zone companies in Abu Dhabi. This is because it will decide whether or not you will be able to carry out certain activities or not. You can choose from a lot of business structures for your company setup Abu Dhabi which may include the Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.) Along with Free Zone Establishment (FZE). You may choose any of these and enjoy the benefits related to them.
Give a unique trade name to your company
Trae name can let the customers differentiate you from other retailers or companies. Also, the trade names act as a magnet from the customers. If your trade name is strong enough to attract others, they surely will and thus you will be able to make a name in the industry.
Get yourself a trade license
Trade license acts as a permit for you to carry out the activities of your desire. Your license will also be dependent upon the activities you carry out. If you have a license for certain products and services, you will only be able to carry them out as per your license otherwise not. So, make sure that your license is right according to your business activities.
Set the best location for your business
Location plays a huge part in making yourself successful. There can be a lot of places that may be assigned o you but here you have to walk mindfully. You must check which location will do better to you according to the services you want to provide. In this way, more customers will come to you making you more successful than ever.
Go for business registration
Without business registration, nothing can be possible for you. You must make sure that you register … Read More
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