Why Companies Should Hire a Legal or Financial Consultant

7 Jan

Why Companies Should Hire a Legal or Financial Consultant

Running any business, whether it's international or not, is no easy task. It requires a lot of hard work and research for a company to reach its goals. Thankfully, this isn't something that companies have to do alone. In fact, it's businesses can get help from outside resources in turning vague hopes into actual business goals. Here are some reasons why hiring a legal or financial consultant is good for companies.

Financial Consultant

Avoiding Financial Clutter

Companies, especially those that are involved with international investment, often have portfolios with no rhyme or reason. In the business world, this is often referred to as financial clutter. The problem typically arises when companies lack any kind of cohesive financial plan. International legal consultants, such as Dr. Shahram Shirkhani, specialize in helping companies come up with proper investment strategies by sorting through all of their finances.

Help Handling the Finances

Most people who run businesses are perfectly capable of handling their company's finances. That being said, these same people often find it hard to make time to handle the finances. This isn't because they lack the skills to do so but because other things get in the way. Sometimes it's family, and other times certain aspects of the business require more of their attention. This is where a financial consultant comes into play. Not only can they help business owners sort out their finances, but they can also provide an independent view on the situation. The financial future of a company is too important to be ignored, and a financial consultant can give this prospect the dedication that it deserves.

Insider's Look at the Industry

Unlike other people who are hired by a company, financial and legal consultants are able to provide a rare look into the rest of the industry. This is because they have the privilege of working with many different supply chains and organizations. This gives the consultants not only expert knowledge on how to deal with certain situations, but it allows them to provide detailed information about the rest of an industry to help companies keep up with industry changes. It also allows them to provide an in-depth look about problems that a company's industry may be facing in a different sector. This gives the company plenty of time to look for a solution to the problem or to be armed with the right information prior to an investment in that sector.

Whether or not a company chooses to hire a financial or legal consultant is determined by that company's individual needs. Just like any other service that a company may use, determining if a consultant is needed is based on the company's perceived value of the service. In the end, however, it's important for the leaders of a company to be brutally honest with themselves on whether such a service is needed or not. Using such a service doesn't take away from a person's ability to run a company, nor does it make them look weak. In fact, it proves that they care enough about their company to do what is right.

14 Nov

The several types of home mortgage protection

   There are several types of home mortgage protection. Some are designed to protect the lender should a buyer default on a loan. Others protect the homeowner in the case of job loss, injury or death. Costs for mortgage protection vary depending on the amount of the mortgage, the homeowner’s age, health and occupation.

home mortgage protection

Private Mortgage Insurance (PMI)

Private mortgage insurance, or PMI, protects the lender should a buyer default on the loan. Normally, a lender requires a buyer to put 20 percent or more as a down payment on a home. In some cases, a lender will offer PMI in lieu of the 20 percent payment. Once the mortgage has been paid below 80 percent of the value of the home, PMI may be removed. Recent federal regulations require lenders to notify the homeowner when the principal has dropped below 80 percent.

Mortgage Protection Insurance

Mortgage protection insurance, or MPI, is also known as mortgage payment protection insurance, or MPPI. The policy is basically a life insurance policy that pays the mortgage if a homeowner becomes disabled, loses employment or dies. Some MPI policies only cover the death of a mortgage holder, sending a check directly to the mortgage company to pay off the balance so that the heirs are left with a home unencumbered by a mortgage. In some cases, the company will pay if a homeowner becomes disabled or unemployed, paying the principal and interest payments directly to the mortgage company. Normally, those payments are for a specific amount of time, usually six months to two years.

Mortgage protection insurance provides protection for the homeowner in case of death, disability or job loss, while other types of insurance protect the lender should the homeowner default on the loan. In most cases, mortgage insurance is inexpensive and can provide peace-of-mind to homeowners that their mortgage will be covered should the unthinkable occur.

5 Jun

Sending Money Abroad

   If you find yourself in the position of wanting to send money to another country, you are probably wondering what the best way to do this is. In some cases, this is a relatively simple process – for instance, if the receiving party takes credit cards, then this is no different than making a transaction in the United States. However, at other times this is not an option, and you have to find another way of getting cash to a foreign destination. There are in fact a number of different ways of doing this, but the one that you should choose depends on a number of factors such as how quickly you want the money to get there, and whether the person at the other end has a bank account.


If the person does have a bank account and they can wait for a week or so for the money to show up, then setting up an international bank transfer is a good option. This is when the money is transferred directly from your bank to the bank in the other country. You should be able to do this using your online banking facility, but you can always do this by going into your bank if they do not offer an online option. You will need the recipient’s account number, as well as their SWIFT number. You will also need their IBAN if they are located in Europe. Aside from that, you just need sufficient money in your account to cover the amount plus any transaction fees.

If the person does not have a bank account, then another option is to use an international wire transfer service. This should allow the recipient to pick up the cash at a wire transfer office in their country, provided that they have appropriate identification. In some cases, they can even pick up money without identification if you set a password on the transfer and the amount is not too large. As with any transfer, you will have to pay fees, although some wire transfer companies waive these for certain charitable donations – for example, you can donate to the Philippines through TransFast.com if you want to help the victims of Typhoon Yolanda.


Another way of sending cash overseas is to use PayPal. Some overseas merchants accept PayPal, so this will work in much the same way as if you use a credit card – and they will pay the transaction fees, not you. You can also send money to family and friends abroad if they have a PayPal account – if you do this, it’s a good idea to choose to pay the transaction fees at your end, since the amount charged is less than if the fees are paid by the recipient directly. The money should arrive in minutes in their PayPal account, but withdrawal times vary. However, if they want to use the money to make online purchases using PayPal, they should be able to do this right away.

29 Apr

Myriad Of Finance Options To Meet The Medical Expenses Of Your Pet At Times Of Emergency

   It is obvious that you are very aware of the health and the well-being of your pet. In spite of that there are instances of illness to affect your beloved pet. It is important for you to be prepared for such occurrences. A sound financial plan can help you to initiate the treatment procedures right on time, without worrying about the financial hurdle. If you are financially planned and prepared, you will try to cater the best medical facilities that are available rather than compromising on the quality of the treatment. Over the years, expenses incurred for catering medical facilities to the pets have increased considerably.

Financial help from friends

You can resort to a host of financial products that are designed to cover the medical expenses of these little creatures. In times of emergency, seldom you have any disposable cash at hand, so it is advisable to set apart an amount in advance, so that you can use the same when it is actually needed. For any emergency, you might prefer to seek help of your friends and families for finances. Though this might seem to be a feasible solution for some, but it totally depends on the nature of your relationship with the lenders.

Have a savings account

A viable option in this regard is credit cards, which are apt to use especially during medical emergencies. Few agencies are known to provide these cards, which can be used through the country in various clinics. These cards are known to provide loan for a short duration, in order to cover the medical expenses. Interest is levied depending on the loan amount and also the loan term. Next is the saving account for the pets, for this you need to contribute regularly adequate amounts so that the same can be utilized when required. You can earn interest on the deposited amount and there is not any provision of premium.

Insure your pet

Pet insurance is another option that is in rage now among the pet owners. It is considered to be an effective tool of risk management in incidences like serious illness, toxic attacks, serious accidents and other life-threatening incidences. Though you might get the money if your pet had not met the accident, but it provides peace of mind to the owner. You can avail both catastrophic and comprehensive insurances. In the second one, a regular checkup, cleaning of your pet are included. You need to assess the merits of the both and then decide, which is best for your pet.

Contract with institutes and vets

You can also contact the educational institutes or veterinary teaching hospitals, as they provide services at a competitive price. Often a vet is appointed, for the convenience of the pets. Be it the regular checkups or the grooming session of your pets, the vets are also responsible for this. So a contract with them will ensure the wellbeing of your pet. You can negotiate on the terms of the contracts and also on the rate of these checkups. Since the vet knows your pet well, even at times of medical crisis, your loved one will be provided with best care and treatment.

Avail philanthropic grants

Various grants are also catered by philanthropic organizations to help the pets when they are in need. Few funds are also provided for this purpose, no interest is levied on the amount. If you are not eligible to obtain other funds then this is the best one that you can opt for. Few of these finances are the result of long-term planning. To know the finance that suits you the most, you need to shop around various lenders and organizations that provide the same. Opt for the one that fits your budget seamlessly.

Author Bio: Wilma Giles works for an organization that provides pet supplies. Here she has shared her research regarding the finance options that pet owners can use during emergencies.

28 Jan

The financial benefits of growing older

   We're all led to believe that we don't have much to look forward to as we get older, but is that really the case? With medical research constantly finding new treatments and cures for health problems we can expect to live much longer than the traditional 'three score years and ten' of our forefathers. So growing old doesn't have to mean a life restricted to creaking knees, aching hips and an empty wallet.

Over 60 years of age

The Citizen's Advice Bureau offers details of the benefits that people over the age of 60 can expect to receive, according to certain criteria in some cases.

The financial benefits of growing older

Although most people no longer qualify to receive state pension at age 60 there are still plenty of financial benefits available for the over 60s. Pension credit can help to top up your income even if you are not drawing your state pension, and other benefits include help with housing costs, winter fuel payments and additional cold weather payments which are available if the temperature drops below a certain level.

The age at which people can start to receive their state pension changes according to your date of birth, so check out the details available on the Citizen's Advice website to find out how recent changes in pension law affect you and those nearest to you. Where you live in the United Kingdom also plays a part in the benefits you can receive and the age at which you can apply for them, so make sure you are armed with the most up-to-date information and claim your full entitlement.

Free prescriptions and eye tests are just two of the benefits available for the over 60s and many local health authorities organise special rates at certain times of day to anyone over this age, so check what it available in your local area.

Over 50s

Surprisingly, many financial benefits are available for those people who have reached the fairly young age of 50. Newspapers and journals constantly bombard us with the information that middle age now begins at 50, but many service providers consider people above this age to be of particular interest.

Most people over the age of 50 are reasonably financially stable and have good incomes after many years of hard work. Children have usually left home meaning that a household has more disposable income to hand, and with the flightiness of youth long gone, this age bracket is considered to be sensible, safe and mature. This is why home and content insurance for people over 50 is so competitive, with some companies dealing exclusively with this age group.

It's a similar story with car insurance as companies recognise the safe driving habits of those drivers who have many years of driving under their belts. Premiums drop accordingly and the savings to be had by shopping around can be quite considerable.

Concessions can be found across a wide range of entertainments and activities, so it's worth looking out for special deals in cinemas, theatres, restaurants and other venues.

Image credit : FreeDigitalPhotos.net Renjith Krishnan

16 Oct

How to Find the Best Deal on Your New Car

  When shopping for a new car you want to make sure you’re getting it for the best price possible. You can do a lot of work when negotiating and haggling the price with the sales person, but if you’re smart you can save yourself money before you even arrive at the dealership. Use these tips below to ensure you get the best price possible. carsUnderstand What You Want from Your New Car You will have so many options open to you when it comes to buying a new car. The amount the car will cost you will greatly depend on the choices you make. If you have your heart set on a specific color remember that it will cost you more to have it manufactured, wouldn’t it be easier to simply buy the color of the model that is sat on the forecourt? It will certainly save you time and money! The same goes with the optional extras too. Do you really need the higher specifications? If the specs are important to you consider buying a model that’s generally cheaper so you can have the extras. Play the Dealers Off Against One Another Many dealerships aim to beat other dealerships on price. There is usually only a small margin to play with but you may be able to persuade the dealer to make a further discount if it means they’re going to close the sale. When buying a car on finance the seller will often be in line for some commission, so they are more likely to be more flexible to ensure they hit their targets and to improve their wage packet for the month. Ask the dealers for their lowest possible price with all fees included and then try your hand at encouraging one dealer to go lower than the other, you never know, it could work out nicely for you and the salesperson. You Have the Internet, So Use it to Find the Right Deal Begin your search by using the Internet to your advantage. You’re already researching before heading to the dealership by reading this article so you’re already on the right path. The Internet will help you to avoid the difficult negotiation process from the start; you can begin by comparing prices from the comfort of your own home. It saves you a lot of time as well as money. The Internet is like the backdoor to the dealership sales department. You can visit websites and find the going rates for the car you want and even use contact forms to ask for some more detailed quotes without having to have a conversation. This is perfect if you know you lack confidence when it comes to negotiations. It’s also useful when you are still in the process of working out what you can afford. A great place to start is web. They have a wide selection of dealers so you can find new cars and the best prices and deals in your area or in your budget. Now you know where to go we recommend heading over and spending a few hours seeing what’s available.  
1 Mar

Billing Software – An Extremely Handy Instrument in Organizations to ensure Fast and Correct Billing

  These days, firms cannot disregard the clear indispensability of Billing Software, which is an incredibly helpful instrument for organizations to make certain quickly and correct menu driven billing that you can manage by diverse menus, which fluctuate using the purposes for which you'll need them. For the handy facility of storing different kinds of information, you may see the billing software has integrated in it many accounting software with rows and columns.

Make Invoices Online Even more, you can change the menu as per your want and you'll improve the rows and columns as per client's needs. The expert developers who style the billing software can effortlessly change its attributes to the actual requirement of the customers. It is possible to make use of the wide-ranging applications from the billing software to service particular nature of jobs, in hassle-free and simple methods. Many organizations take advantage of this software to acquire their dues against the provide of their items or companies. Choosing the correct sort of software will conserve your time and energy.

Although, this is a typical practice to outsource billing companies, they perceive it like a complex procedure, but using the valuable advent from the easy-to-use software’s, most organizations have adopted it for in-house operation. Among these, Healthcare billing software isn't only really well-liked, but brings with it a host of benefits for use by the hospitals, billing businesses and medical professionals. The designers produce most billing programs for effortless and universal use by all clients for it. The software is accessible within the shelves of most software vendors. Many companies in the marketplace use the latest up to date versions of this software to procedure billing information accurately making use of error cost-free approaches. You do not require significant expertise to put in Billing Software inside your personal computer. Make your selection wisely, since excellent billing software will supply the flexibility in your billing maneuvers to save you worthwhile time and effort.  
25 Jan

Is Bankruptcy the Answer? How to Decide if Filing Is Right for You

  The phone rings at all hours of the day and night with creditors calling for payment. You’re afraid to open the mailbox, as the threatening letters are starting to pile up. Even when you can pay your bills, it’s such a small amount that you’ll never pay what you owe, never mind get ahead.

When your financial picture begins to look dire, chances are, you’re open to just about any solution, including filing for bankruptcy; however, while bankruptcy might seem like the ideal way to make a fresh start when you’re struggling under a pile of debt, it’s not right for everyone and every situation. In fact, unless you meet certain criteria, you might be better off consolidating your debt with bad credit loans, undergoing credit counseling or finding another alternative to improving your financial picture.

BankruptcyUnderstand the Consequences

Before you even consider filing for bankruptcy, it’s important to understand the long- and short-term consequences of that decision. While a bankruptcy filing will give you relief from the collection calls and letters — it’s illegal for creditors to contact someone who has made the filing — and might discharge much of what you owe, it does not give you a free pass to not pay your debts.

First, not all types of debt can be discharged through a bankruptcy. Student loan debt, for example, as well as tax debts and criminal fines will remain, and you’ll have to pay what you owe.

Second, bankruptcy can cause you to lose some of your personal property, such as your car, home, jewelry or personal items if they are not exempt or they are worth more than the limits set by bankruptcy courts.

In the long term, though, while declaring bankruptcy can help you start over without a mountain of unpaid bills, it does affect your credit. The Fair Credit Reporting Act allows for the filing to remain on your credit for up to 10 years; in some cases, you might be granted credit again once the filing is a few years old, but bankruptcy will impact your credit score, something that only time and a solid payment history can remedy.

Making the Decision

Even if you think you can handle the consequences of filing bankruptcy, filing still might not be the right decision. Because so many people have filed for Chapter 7 bankruptcy (the most common type of personal bankruptcy) within the last decade — and some have abused the protections — the rules for who can file and when have been tightened. Essentially, in order to file, you need to prove you absolutely cannot pay off all of your debts with the income and assets you have. This is done through a series of complex calculations that take into account everything from your current income to your savings and the property you own.

In addition to proving you can’t pay, the law also requires that you complete credit counseling within 180 days of filing. In some cases, a credit counselor will determine you can pay your debts and develop a workable plan. That being said, bankruptcy can be a good option for you if:

  • Your debt is more than 50 percent of your income.
  • You can’t repay all of your revolving debts (i.e., credit cards) within three years.
  • You’re only making minimum payments on your debts, and not making a significant dent in the balances.
  • Your creditors will not negotiate with you to find a way to pay what you owe.

Of course, every situation is different, and you will only know for sure whether bankruptcy is a viable option if you speak to an attorney. Because there are significant fees associated with filing, including attorney’s fees, looking at alternatives like a debt-management program or consolidation loan might make more financial sense.

With the economy struggling and jobs are more difficult to find than ever before, millions of people are finding themselves drowning in debt. Bankruptcy is one option for getting back over water though, and a decision that should not be made lightly; in fact, bankruptcy is a last resort — in most cases, with the right advice and a good plan, you can pay off what you owe and still come out ahead.

About the Author: Financial adviser Celia DeVine has worked with dozens of people, helping them manage their money and get out of debt. She blogs about money management and savings strategies, for several sites.

17 Aug

The Complete Guide to Retirement Planning

It is completely up to that individual when to retire and how to retire. Every individual has their own right to define retirement for themselves.  A true retirement age is dependent on factors such as one financial state. A plan should be made and implemented with the help of professionals to achieve the goals that you have defined for retirement. Changes can also be made to the plan as per requirement.

  Firstly you need to manage your investments. A right place has to be chosen for making an investment, where there are high opportunities for growth. Apply for an insurance plan, which satisfies your requirements. Make the needful changes to your life style. Your retirement should also cover costs for healthcare and also social security. The outcome of your retirement planning should be sufficient enough to fund you a comfortable life style.

22 Jun

How People Fall Into a Debt Spiral

  The world on the whole itself is flooded with debt. It’s a vicious circle, borrowing and spending. People borrow money for various needs and fall into debt. Those needs have to be prioritized and analyzed. What is the need to borrow money? Is the first thing to be considered and asked by self? Companies and joint ventures borrow money on a large scale to grow their business to a large empire. Sometimes loss occurs and all the money is lost.

Borrowing money is easy but repaying it is difficult. Making a right choice always matters. When it comes to students they take loan for their education, before repaying that, they again take up loan for higher education, which increases their debt to a very large extent. Before they even get into a firm they are in full debt. To come out of debt you should stop borrowing money and make changes to your lifestyle that is affordable. You can get more information about debt spiral if you search the internet.