Bankruptcy Information–An Overview Posted By : J Everett Myers
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Bankruptcy Information–An Overview Posted By : J Everett Myers
Making the decision to file bankruptcy is hard. Here’s an overview of how the process works.
How To Incorporate Yourself Without A Lawyer
You could save hundreds of dollars by incorporating yourself without a lawyer. How? Is it advisable to do so?
1. This is Not Legal Advice!
The only ones who should be giving legal advice are those licensed to practise law (in other words, only lawyers). This article is not legal advice. If you need legal advice, consult a lawyer.
This article is being written simply to inform you that it is possible to form a corporation or limited liability company without a lawyer.
2. Why Use a Lawyer?
First of all, if you make a mistake incorporating yourself, who do you sue? You only have yourself to blame. On the other hand, a lawyer has insurance to cover errors and omissions.
Secondly, you could benefit from the expertise of your lawyer. Perhaps a corporation isn`t the right vehicle for you under your circumstances. Be aware that there can be disadvantages as well as advantages to incorporating. Your lawyer can consider commercial law, securities legislation, limited liability, tax factors, estate planning, share structure, and a myriad of other business considerations. Sometimes the advice of a good lawyer can save you thousands of dollars.
3. Is it Advisable to Incorporate Yourself?
Is it advisable to perform surgery on yourself? It is illegal to perform surgery on someone else unless you are licensed to practise medicine, but perhaps in a wilderness survival scenario, self-surgery might be your only option. However, is performing surgery on yourself really a good idea in most instances?
Likewise, just because it is possible to incorporate yourself without a lawyer doesn`t mean it is always a good idea.
In some jurisdictions, only lawyers can incorporate others. For a paralegal or other person to incorporate a company for you could be considered unauthorized practise of law. Thus, it may be legal to incorporate yourself but not others.
Some factors you might consider are: Am I really that short of cash that I can`t spend the extra money for good legal advice that may save me thousands of dollars? Am I confident that my situation is one that really doesn`t need the services of a lawyer to incorporate? Can the money saved on legal fees be better utilized in financing other aspects of my business?
Each person will have to make their own decision on whether or not to seek the services of a lawyer in forming a corporation.
“He who has himself as a lawyer has a fool for a client.” I have often thought that perhaps a law firm originated this common expression.
4. How To Incorporate Yourself
Many books have been written by lawyers on how to incorporate yourself.
For example, in Canada, M. Stephen Georgas, LL.B., has written books on the subject of forming
your own corporation. Published by International Self-Counsel Press Ltd., he has authored
“Incorporation and Business Guide for Ontario” (”How to form your own corporation Includes tax advantages to incorporating”) and “Federal Incorporation And Business Guide” (”How to form your own Federal corporation under The Canada Business Corporations Act”).
The same publisher sells forms and minute books as well as titles for incorporating in other provinces of Canada.
Forms, corporate supplies, name searches, and kits are available from legal stationers and other sources.
In the United States, there are likewise many manuals available for incorporating yourself in various states. “Incorporating Your Business For Dummies” by The Company Corporation and “How To Form Your Own Corporation Without a Lawyer for Under $75.00″ by Ted Nicholas are two such books.
Sometimes helpful information on this subject is available from federal, provincial and state governments for free or nominal cost.
You can sometimes locate incorporation manuals at your local library for free. Be careful. Legal manuals become outdated very rapidly. You might consider very seriously purchasing the most up-to-date manual available; it might also include helpful reference material on maintaining corporate minutes and other helpful suggestions on operating your corporation.
Buy the appropriate manual and supplies and then follow the instructions. With a little effort, you could save hundreds of dollars incorporating yourself without a lawyer.
J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. To learn more about incorporating yourself and other profitable Work at Home Small Business Ideas, visit <a href="http://www.yenommarketinginc.com/incorporation.html" title="http://www.yenommarketinginc.com/incorporation.html" target="_blank">http://www.yenommarketinginc.com/incorporation.html</a>
Bankruptcy Lawyer: Your Final Solution When Running Out Of Options
Before rushing to a lawyer to assist you in filing for bankruptcy, you have to make sure what is bankruptcy and what is not. Only then will you have to find a bankruptcy lawyer that you can work with in filing your case. Many people rush to file for bankruptcy thinking that it will solve their financial problems. The opposite is often true.
Declaring your business to be legally bankrupt, only mean that you have done everything you could and there is no way for recovery. It means being deep in debt that it will already be impossible for you to sustain the business.
There are kinds and variations to bankruptcy and the legal process will depend very much on where you are coming from but the purpose is the same. Bankruptcy cases will take years to resolve. The court will determine what debts do not have to be repaid and what will be directly deducted from your income.
In the interim, credit lines will be closed to you. Your credit history will be tainted and no credit institution will want to do business with you. Back taxes that you owe will still have to be paid and obligations will still be enforced like alimony and child support.
When there is no resolution that is possible, finding a good bankruptcy lawyer will then be the only recourse.
A good bankruptcy lawyer should be someone you can be comfortable talking with. Someone you can trust and someone who has displayed competence in handling bankruptcy. This is very important as communication between you and the lawyer must be based on trust. There have been so many instances when the client holds back on information that he thinks is not so significant only to learn later on that the piece of information that was withheld posed additional complication to the case. Withholding information from your bankruptcy lawyer pose problems where non existed before. Bankruptcy lawyers can only help the client to the extent of the knowledge that the lawyer has. It is crucial then that the client works with the lawyer. This is in the first place the client?s future that is at stake.
Do not hesitate to interview the lawyer prior to retaining him. Ask the lawyer questions and a good lawyer must answer you in a language that you can understand. If you don?t, do not be afraid to clarify statements that could be ambiguous to you. Find out a bankruptcy lawyer that already has an extensive experience in handling bankruptcy cases. Whenever possible find a bankruptcy lawyer who is a specialist. Avoid the generalist, as they may not be able to help you as much.
If you feel uncomfortable talking with a particular bankruptcy lawyer, find another one. You can visit the local bar association to find out their recommendation.
When you visit your bankruptcy lawyer, bring a list of all the creditors that you owe, including payments to personal loans that you are not left behind and a list of all your assets and liabilities. The more information you provide the bankruptcy lawyer, the better and more accurate the recommendations he will give you. Remember that lawyers can only work as good as the information that you provide.
Cooperate well in giving your lawyer the data regarding your case because you are in the best position to give those to him. You also will be the person that will either suffer or benefit from the outcome.
Robert Thatcher is a freelance publisher based in Cupertino, California. He publishes articles and reports in various ezines and provides bankruptcy lawyer resources on <a href="http://www.your-bankruptcy-lawyer.info">www.your-bankruptcy-lawyer.info</a>.
Home Loans after Bankruptcy Posted By : IC
Home loans and bankruptcy are two terms that generally dont fit well together. There is a lot of misinformation out there about bankruptcy and the ability to finance a home after you have been through this process so many people assume that once they have been through this process that they will never experience home ownership.
