Bankruptcy And Debts

You would think that the internet scam artists would take a vacation from bilking unsuspecting victims during such recent natural disasters as hurricane Katrina, and the tsunami that killed over a quarter million people right after Christmas. "Not so.", says Jim Merrick of Click First, a one stop online informational portal that provides background information about businesses and individuals (www.clickfirstlinks.com). Merrick warns that some people have no mercy when it comes to fraud. "Just look at what happened recently after hurricane Katrina", states Merrick, "internet scammers posing as the Red Cross have been collecting funds via unsolicited emails. Can you believe it? These guys just never give it a rest."

Consolidation Debt Mortgage More than half the donations to the Red Cross have come over the Internet, but a number of scam sites have cropped up that emulate the Red Cross Web page. In some cases, after users donate to a fraudulent outlet, the site instantly links to the official Red Cross page, so givers continue to think they've just given to the Red Cross. In other instances, e-mail messages asking for donations include a link to a phony charity.

Bankruptcy is a court process that allows an individual or business to get relief from their debts. The ultimate goal of bankruptcy is to give the individual or business a fresh financial start while being fair to creditors. How Can a Business File for Bankruptcy Chapter 7 and Chapter 11. Once bankruptcy proceedings are started (whether through Chapter 7 or Chapter 11), creditors cannot attempt to collect debt from the business until the bankruptcy process has ended.

Consolidation Debt Help Merrick also details what occurred after Christmas, several days after the tsunami caused by underwater shifts in the seabed ravaged the coastline of dozens of countries lining the Pacific and Indians oceans. "One group posed as a well known international aid group named Oxfam," describes Merrick while sitting in the offices of Click First, "[the group] sent an email message that appeared to be from the disaster relief agency branch of Hong Kong which urges readers to deposit money into a bank account in Spain. Oxfam officials contacted police about the scam after finding out."

Chapter 7 Bankruptcy involves the selling off (or "liquidation") of a business' property to pay off debts. The bankruptcy process starts when the business files a petition with the bankruptcy court. The petition must list all of the business' property, debts, and recent financial history. The court will then appoint a trustee who will sell off some of the business' property to help pay the business' debts. Some debts will be discharged by the trustee, meaning that the debts will not have to be paid. Other debts are not dischargeable including recent taxes, debts in prior bankruptcy, and penalties payable to the government.

Consolidation Credit Debt Merrick goes on to say that people who are fooled into sending funds aren't always the elderly, who are normally the prime candidates for being taken. "I started Click First because I was burned for over $70,000 by a complex business scheme", laments Merrick. "What threw me off is that I actually did what I thought was a pretty thorough job of online detective work." Merrick relied on his long time banker to advise him on sources of capitol for a new business he was starting up. The banker referred Merrick to a gentleman who had carefully concealed his true background through an identity theft committed years earlier. Even after Merrick had brought in a former law enforcement professional, who had access to government databases, he was still hoodwinked by the misguided talents of this experienced thief. "If that guy used half of his abilities, engaged in a legitimate profession, he would be a millionaire." stated Merrick.

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Bill Consolidation Debt Internet scams and complex business fraud are fast becoming the leading type of non-violent crime in the country. Just days after Hurricane Katrina struck, the FBI's top cyber-crimes official, Chris Swecker, Assistant Director of the FBI's Criminal Investigative Division, said the FBI had already opened eight investigations into potentially fraudulent sites related to hurricane Katrina. Swecker declined to say exactly how many investigations are open at present.

Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments, offs, and debt collection activities. Both also provide exemptions that allow people to keep certain assets, although exemption amounts vary among states. Note that personal bankruptcy usually does not erase child support, alimony, fines, taxes, and some student loan obligations. And unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or lien on it.

Consolidation Debt Quote Online scammers robbed Americans of more than $437 million in 2003, mostly using stolen identities, fake Internet auctions and fraudulent shop-at-home schemes according to the Federal Trade Commission (FTC). In its year-end Consumer Fraud and ID Theft Report, the FTC said it received more than half a million consumer complaints during 2003, a 40 percent jump over complaints in 2002. More than 40 percent of all complaints were related to identity theft and other Web-related scams.

The Bankruptcy Courts Survey 2005 found that communication between the courts, official receivers and bankruptcy trustees was generally efficient. Cause for bankruptcy were seen to be complex, although credit misuse followed by business failure tended to be a familiar pattern. Bankrupts tended to acknowledge moral responsibility for their debts, the report found. "The report concludes that very few people see bankruptcy as an easy way out of their debts but rather that they have no real alternative, " said Desmond Flynn, inspector general of the Insolvency Service.

Consolidation Debt Lead Small businesses are more prone to fraud than large companies. Small businesses experience fraud losses at a rate 200 times that of the largest businesses, with more than 50 percent of frauds involving losses of less than $100,000, according to a 2002 survey from the Association of Certified Fraud Examiners. Seventy-five percent of fraud is not detected or reported and costs the average business 0.5 percent to 2 percent of its gross revenue. The annual cost of fraud in the United States is $600 billion.

Consolidation Debt Non Profit Merricks solution to this ever growing problem was to develop a turn key business and private individual background check portal that could achieve accurate results in just 3 clicks. "The problem that I encountered, when I was trying to protect myself and my colleagues, was that there was no all encompassing web site or source of information I could go to", discusses Merrick, "there were several places I could retrieve information, but none were linked to the other, and the fellow that scammed our group new the weak points and took advantage of the system." Using the Click First site you can, in three clicks or less, find information on any doctor, lawyer, accountant, contractor, or do a complete background check on those people that you are potentially going to deal with. The Click First site also has a special "Scam Watch" alert on the home page, which provides information about the most popular or current scams.

Consolidation Debt Loan Online Billy Mays, a nationally known spokesman for name brand products, was drawn to Merrick's project because of its consumer protection function. Mays stated bluntly that "You can't afford not to know" the information that Click First provides. Mays is now actively involved in the development end of the business.

Consolidation Debt Home Loan Unscrupulous individuals aren't going to go away or take a hiatus when disasters affect the masses. The internet can either be the tool of the criminal element or the defensive shield protecting the vigilant. Jim Merrick decided that he didn't need to make the same mistake twice, and in fact went a step further when he developed the 3 click fraud protection system designed for businesses or individuals. "Why let these cyber thugs take advantage of the honest guy?" proclaims Merrick. "The technology was there to stop them. I just stepped up and said enough was enough." Let this being a warning to those who are planning new scams-a new sheriff is in town.

Christian Consolidation Debt Bruce Prokopets
Executive Editor
Press Direct International
www.pressdirectinternational.org

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