How To Settle Credit Card Debt On Your Own ("Do It Yourself" Debt Settlement)
I'm often asked, "How can I settle credit card debt myself?"
This is a great question.
There's lots of info floating around about debt settlement in general; some good info mixed with some dangerously incomplete info... And watch out for all the bad and inaccurate info!
Here's a quick step-by-step guide for you to accomplish your goal of settling credit card debt yourself:
First, let's clear up a few things. Then I have three "keys" for you to follow to successfully settle your own credit card and unsecured debts...
* Considerable time is required to document, communicate, negotiate and follow up to achieve these results.
* There are many strategies and factors to consider that may impact results.
* There are plenty of pitfalls to avoid.
* Settling yourself for 2/3rds can be a reasonable goal.
The general consensus of industry professionals and insiders I know tell me overall, "doing-it-yourself," consumers settle credit card debt on their own for about 75% on average.
My close friends, however, who are pros and found themselves in financial hardship during recent years, have achieved 10% settlements on many of their own personal credit card debt accounts -- but this is only because they were willing to go the extreme distance and knew exactly what they were doing. These folks are the exception to the rule.
Many people are unsuccessful getting any reduction of their debt at all on their own, without even any relief from double-digit interest rates. These folks remain stuck on the exhausting treadmill of slavery to debt and money.
Professional negotiators (including attorneys and arbitrators) average about 50% settlements (some much better than others), and usually charge about 15% in fees (may vary by program type), putting the total cost to use a professional debt settlement service at an average of about 65% or less of your total unsecured debt.
Creditors DO give professionals representing a large volume of debt "special treatment" because large professional negotiators are the "bread and butter" for most collectors. They deal with each other every day. When a professional debt settlement negotiator comes to the table representing millions of dollars of client debt held in "bulk" with a single major creditor, it creates serious leverage for the consumers represented by the professional. Creditors are often willing to do these "bulk settlements" for substantially less than individuals would normally ever be able to achieve on their own.
Still, I've helped many folks who have a knack for communicating, negotiating, documenting and following up (the four critical skills you'll need to do this) to get settlements as low as 45-60% regularly.
Make sure you're ready to do all the communicating, negotiating, documenting and following up required all on your own before you start.
If you are...
Here are the three keys to settle credit card debt on your own:
KEY # 1) The accounts must be delinquent.
Creditors will not settle for anything less than the full balance until your accounts are seriously past due. While good settlements are possible after only 60-90 days, typically settlement take place after 180 days + when accounts are "chargied off." This is because when creditors "charge off" an account (an accounting entry), they are taking a tax benefit on the account by writing it off as a loss. This de-values the account, and it is no longer worth the full balance owed. In fact, the normal course of business is to sell the account as "bad debt" to a third party debt collector.
STARTLING FACT: In 2006, "bad debt" was sold to collectors for an average of $0.034 cents on the dollar. That's 3.4%! Can you imagine? This means a $10,000.00 account is typically sold for only $340. Keep this in mind. This is exactly WHY debt settlement works so well, because it's a better deal to the creditor or collector than any other option, such as a lawsuit, collections or bankruptcy.
With the economy getting worse and bad debt more than doubling in 2009, expect the value of bad debt to drop even further, which means better settlements and more savings for you!
KEY # 2) Documentation BEATS Conversation, every time.
DO NOT make any payments by phone.
Collectors will almost always ask for a check by phone. Say this:
"Unfortunately I'm unable to make a payment at this time; and am hoping to bring resolution to this matter as soon as possible. I understand you want me to make a payment right now, but that just isn't possible. I will have $_________ (state an amount that's roughly 35-50% of your balance, not a percentage but a round number) soon and want to settle at least one of my accounts with whoever will give me the best deal. Can you please send me an offer in writing?"
HINT: You can do this initially or in response to a settlement offer that's too high... Write a "Hardship Letter." Hand write or type up a letter describing your situation, your inability to pay and include information such as, divorce, medical issues, loss of job, disability or reduced income. Any information regarding your personal hardship will help your negotiation, so don't hold back. Send this letter along with a request to settle the account for $_______ (again, a random amount roughly equal to 35-50% of your current balance).
Talking sincerely about your financial hardship, lack of income and inability to pay when requesting a settlement offer over the phone can help a lot. Think sob story, but be sincere. Still, in this game... documentation beats conversation, every time.
Track everything (documentation)... who you speak to, their name, phone number and extension, date and time. Keep everything organized in a folder, easily accessible.
NOTE: Certain creditors such as CitiBank, Discover, Kohls, Target and Chase if you live in FL, NY or OH will not settle for such small amounts. You should accept 60% to 75% in these situation and consider it good. All are more likely to pursue legal action as well.
KEY # 3) Use certified mail with return receipt.
Once you get an acceptable settlement offer in writing, send a check. But first... Write your account number for the account you are settling on the check and in the memo write "FOR PAYMENT IN FULL." Send the check along with a COPY of the settlement offer by certified mail with return receipt.
Once the account is paid to a zero balance, you can do the normal process of credit repair and quite possibly have the account removed through disputing it and requesting verification.
But wait, isn't "Do-It-Yourself" Debt Settlement like doing your own taxes or dental work?
Sure, it's possible settle credit card debt on your own. Some people are naturally good at it and even enjoy it, but most of us would rather leave it to a professional to get it done right the first time.
It's like changing your own motor oil... while most people don't want to get their hands dirty, you certainly can do it yourself.
Debt settlement is by no means an exact science and it's difficult for an individual lacking experience to determine if a settlement is fair or not. In addition, you have to directly handle all creditors' calls and the harassment that come with the job. Many people are simply unable or uninterested in handling that kind of pressure, especially with the daily complexities of managing a job, household or family at the same time.
It does help (big time) to have expert guidance instead of learning on your own through trial and error (expensive and stressful). The cost of professional debt settlement programs may easily be dwarfed by the additional savings you'll realize by "doing right" the first time.
Hiring a professional debt settlement firm with a good reputation can no doubt save you more money, give you better advice and get you out of debt in a much less stressful manner, enabling you to move on with your life.
This sums up the process of settling credit card debt on your own. A professional debt settlement program makes a lot of sense if the cost to you is the same or less than doing-it-yourself and you get to let the pros do most of the work for you.
FYI: "Credit Counselors" do not settle debt. I'm often asked a similar question, How can you settle a credit card debt without using a "credit counselor?"Credit counselors don't actually settle debt,, but it's a common misconception the general public shares. How many of us really know how this credit and debt stuff works? They often are able to reduce interest rates, and collect the full balance through a debt management plan where you pay them one single payment each month while they turn around and pay your creditors for you (hopefully) in full plus interest.
Of course, hiring the right professional for debt settlement services is a different discussion, but *watch out* because there are only a few "good ones" out there... mixed in with many unscrupulous salespeople who would lead you astray for their own gain in the debt settlement industry.
BUT BEFORE you can be certain debt settlement is the best for you, be sure to educate yourself on how credit works, your options for getting out of debt and how to choose what's best for you.
No matter what...
Make it a Priority to Be Debt Free ASAP, and Stick To It.
Because nothing feels as good as freedom, after you've been a slave!
: )
Need More Help or Resource with Debt Settlement to Settle Credit Card Debt On Your Own ("Do-It-Yourself") or to Find a Trusted Debt Settlement Program?
Thursday, September 16, 2010
Tuesday, September 14, 2010
Professional Proof Reading - Become a Certified Proof Reader and Earn Millions
Thanks to the internet you're going to read an article to change your life. Irritated! Are you tired of noticing English grammar and punctuation errors every day? Do you have fun fixing it up? With ever booming internet industry, the need to write better and without errors is in high demands. You can cash the skills of a hidden proof reader inside, just by getting started to become a certified professional.
Proof reading is an exciting job whether you work online or in a traditional working environment. You can take up the editing job without much challenge and earn a smooth income. On the other hand you can earn fortune with just a little effort. Take up the challenge to get what it takes, become a certified proof reader. It means you will get proper training and a few courses to get the work done smoothly and without errors. Certification is the first step to ensure quality and accuracy as a proof reader. In today's world of recession, earning a steady income is every one's top priority. Freelancing is such a business which never gets affected by this situation. If you are a quality provider, your days are never gone. Getting trained not only improves your confidence level but your reliability for buyers as well. It is certainly an incredible investment for life time with overwhelming returns.
You can literally earn fortune by getting qualified for the job. After all, proof reading business is all about providing high quality documents without errors. The skill set you acquire at an institution or through an online certification, enables you to own loads of money with hundreds of satisfied customers, who will never think of anyone else as they think, you are just the best! This is the point of your hidden treasure. Get certified and have fun doing what you like the most.
If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read the amazing, true story, in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.
Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program.
Proof reading is an exciting job whether you work online or in a traditional working environment. You can take up the editing job without much challenge and earn a smooth income. On the other hand you can earn fortune with just a little effort. Take up the challenge to get what it takes, become a certified proof reader. It means you will get proper training and a few courses to get the work done smoothly and without errors. Certification is the first step to ensure quality and accuracy as a proof reader. In today's world of recession, earning a steady income is every one's top priority. Freelancing is such a business which never gets affected by this situation. If you are a quality provider, your days are never gone. Getting trained not only improves your confidence level but your reliability for buyers as well. It is certainly an incredible investment for life time with overwhelming returns.
You can literally earn fortune by getting qualified for the job. After all, proof reading business is all about providing high quality documents without errors. The skill set you acquire at an institution or through an online certification, enables you to own loads of money with hundreds of satisfied customers, who will never think of anyone else as they think, you are just the best! This is the point of your hidden treasure. Get certified and have fun doing what you like the most.
If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read the amazing, true story, in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.
Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program.
Wednesday, September 8, 2010
9 Tips to Avoid Unethical Tax Relief Companies to Settle Your IRS Debt
Because the IRS is increasing enforcement to unprecedented levels, there's been an increase in the number of unethical tax relief scams preying on people who owe back taxes. This year we've already seen rising numbers of consumer complaints about these scams. In tough economic times, it's especially important to not ignore IRS problems. Taxpayers must realize that they have to be careful when choosing a tax professional to resolve their back taxes and IRS problems.
Here are 9 tips for protecting yourself from tax resolution scams.
Tip #1: Beware of tax firms that overstate their success rate.
Avoid tax relief firms that overstate their success rate. According to Consumer Affairs, it's not uncommon for firms to misrepresent their ability to provide help. In some instances, companies will misrepresent their staff's professional skills and experience in addition to failing to provide promised services. Look for a firm that puts potential clients through a rigorous in-depth interview process to find out if they qualify for an IRS tax settlement - and will not allow a client to retain their services unless the taxpayer is a legitimate candidate.
Tip #2: Know what questions to ask before you hire your tax representation.
There are a number of important questions to ask your prospective tax attorney before hiring them on as your IRS battle-mates. In order to ensure that your tax attorney will be working in your best interest instead of simply charging you enormous service fees, you will need to treat your research process as you would a job interview.
Tip #3: Hire a firm that is responsive to your needs.
A tax attorney is responsive and will make sure you don't pay a penny more than what you owe. They will take over all communication with the IRS and make sure you stop clocking interest and penalties. Unfortunately there are companies out there that won't take you calls, don't respond to the IRS and make your back taxes troubles much worse than if you never hired the unethical tax relief professional.
Tip #4: Qualified tax resolution professionals provide immediate relief through Power of Attorney. When you get tax help from a certified tax professional, you get the benefit of them working completely on your behalf and will file a tax Power of Attorney (POA) with the IRS. This will provide you with immediate relief because from this point on the IRS will be required to contact them instead of you. A separate POA may be required for any State problem.
Tip #5: Beware of firms that guarantee results without even seeing your information.
One of the hallmarks of an unethical tax company is someone who promises you a specific outcome without an in depth review of your specific tax matter. Every situation is unique and the IRS agent on the other side of the table is always an unknown factor. There are no guarantees in life. Anyone who gives you a guarantee is unrealistic and unprofessional at best, or a scam at worst. A Certified Tax Resolution Specialist will get to know their client's specific problem and educate them on options for their specific case so that they have realistic expectations.
Tip #6: Know when to work directly with the IRS to resolve back taxes.
If your back taxes debt is less than $15,000, most tax specialists won't take you as a client. A Certified Tax Resolution Specialist wants to create a win-win situation, where the taxpayer gets needed tax relief and they earn their fee. If your back taxes debt is relatively small (less than $15,000), most often you can work directly with the IRS to resolve you back taxes.
Tip #7: Understand the costs associated with resolving your specific IRS problem.
Unethical tax companies will often low-ball their representation fees, quoting a seemingly low cost but neglecting to you tell you that the average Offer in Compromise takes 6-10 months. Additionally, because a high percentage of Offers are rejected by the IRS, these cases often have to go to the appellate level - at which point these firms will then turn around and hit the client with additional appellate representation fees. Look for firms that charge a fixed fee for their tax resolution services and can explain exactly what will be involved with achieving a settlement for your specific IRS problem.
Tip #8: Know the truth about Offer in Compromise tax settlements.
A Certified Tax Resolution Specialist has a track record of success with the IRS. You get that success rate by negotiating realistic Offers in Compromise with the IRS. An IRS tax relief scam might give you an impressive number of Offers In Compromise they have filed, but the number of OICs a tax resolution firm files is not what matters. Find out what percentage of their Offers in Compromise are accepted by the IRS (their success rate). Because Certified Tax Resolution Specialists are usually realistic with the cases they file, they often have the best track record for getting Offers in Compromise accepted.
Tip #9: Know the difference between a tax specialist and a Certified Tax Resolution Specialist (CTRS)? Tax specialist has no meaning. What matters is being a Certified Resolution Specialist. Certified Tax Resolution Specialists are certified by the American Society of Tax Problem Solvers. The ASTPS is a national, not-for-profit organization of professionals who specialize in representing taxpayers before the IRS.
In order to obtain this certification, licensed professionals (tax attorneys, CPAs and enrolled agents) have to take and pass an exam administered by the ASTPS, prove directly related experience in the tax resolution niche (two years), and be a CPA, tax attorney or enrolled agent in good standing with their respective state that licenses/regulates them. A Certified tax Resolution Specialist is uniquely qualified to successfully solve IRS problems - from negotiating tax settlements and IRS payment plans to removing or modifying IRS and bank levies - day in and day out. So whether you are looking for a tax attorney or a firm comprised of attorneys, CPAs, and enrolled agents you can research the ASTPS site and click on Find a Tax Problem Solver to determine if they are Certified Tax Resolution Specialists.
To combat tax resolution scams, you've got to arm yourself with knowledge. But your best insurance to protect you from tax resolution scams is getting someone you know you can trust on your team.
Here are 9 tips for protecting yourself from tax resolution scams.
Tip #1: Beware of tax firms that overstate their success rate.
Avoid tax relief firms that overstate their success rate. According to Consumer Affairs, it's not uncommon for firms to misrepresent their ability to provide help. In some instances, companies will misrepresent their staff's professional skills and experience in addition to failing to provide promised services. Look for a firm that puts potential clients through a rigorous in-depth interview process to find out if they qualify for an IRS tax settlement - and will not allow a client to retain their services unless the taxpayer is a legitimate candidate.
Tip #2: Know what questions to ask before you hire your tax representation.
There are a number of important questions to ask your prospective tax attorney before hiring them on as your IRS battle-mates. In order to ensure that your tax attorney will be working in your best interest instead of simply charging you enormous service fees, you will need to treat your research process as you would a job interview.
Tip #3: Hire a firm that is responsive to your needs.
A tax attorney is responsive and will make sure you don't pay a penny more than what you owe. They will take over all communication with the IRS and make sure you stop clocking interest and penalties. Unfortunately there are companies out there that won't take you calls, don't respond to the IRS and make your back taxes troubles much worse than if you never hired the unethical tax relief professional.
Tip #4: Qualified tax resolution professionals provide immediate relief through Power of Attorney. When you get tax help from a certified tax professional, you get the benefit of them working completely on your behalf and will file a tax Power of Attorney (POA) with the IRS. This will provide you with immediate relief because from this point on the IRS will be required to contact them instead of you. A separate POA may be required for any State problem.
Tip #5: Beware of firms that guarantee results without even seeing your information.
One of the hallmarks of an unethical tax company is someone who promises you a specific outcome without an in depth review of your specific tax matter. Every situation is unique and the IRS agent on the other side of the table is always an unknown factor. There are no guarantees in life. Anyone who gives you a guarantee is unrealistic and unprofessional at best, or a scam at worst. A Certified Tax Resolution Specialist will get to know their client's specific problem and educate them on options for their specific case so that they have realistic expectations.
Tip #6: Know when to work directly with the IRS to resolve back taxes.
If your back taxes debt is less than $15,000, most tax specialists won't take you as a client. A Certified Tax Resolution Specialist wants to create a win-win situation, where the taxpayer gets needed tax relief and they earn their fee. If your back taxes debt is relatively small (less than $15,000), most often you can work directly with the IRS to resolve you back taxes.
Tip #7: Understand the costs associated with resolving your specific IRS problem.
Unethical tax companies will often low-ball their representation fees, quoting a seemingly low cost but neglecting to you tell you that the average Offer in Compromise takes 6-10 months. Additionally, because a high percentage of Offers are rejected by the IRS, these cases often have to go to the appellate level - at which point these firms will then turn around and hit the client with additional appellate representation fees. Look for firms that charge a fixed fee for their tax resolution services and can explain exactly what will be involved with achieving a settlement for your specific IRS problem.
Tip #8: Know the truth about Offer in Compromise tax settlements.
A Certified Tax Resolution Specialist has a track record of success with the IRS. You get that success rate by negotiating realistic Offers in Compromise with the IRS. An IRS tax relief scam might give you an impressive number of Offers In Compromise they have filed, but the number of OICs a tax resolution firm files is not what matters. Find out what percentage of their Offers in Compromise are accepted by the IRS (their success rate). Because Certified Tax Resolution Specialists are usually realistic with the cases they file, they often have the best track record for getting Offers in Compromise accepted.
Tip #9: Know the difference between a tax specialist and a Certified Tax Resolution Specialist (CTRS)? Tax specialist has no meaning. What matters is being a Certified Resolution Specialist. Certified Tax Resolution Specialists are certified by the American Society of Tax Problem Solvers. The ASTPS is a national, not-for-profit organization of professionals who specialize in representing taxpayers before the IRS.
In order to obtain this certification, licensed professionals (tax attorneys, CPAs and enrolled agents) have to take and pass an exam administered by the ASTPS, prove directly related experience in the tax resolution niche (two years), and be a CPA, tax attorney or enrolled agent in good standing with their respective state that licenses/regulates them. A Certified tax Resolution Specialist is uniquely qualified to successfully solve IRS problems - from negotiating tax settlements and IRS payment plans to removing or modifying IRS and bank levies - day in and day out. So whether you are looking for a tax attorney or a firm comprised of attorneys, CPAs, and enrolled agents you can research the ASTPS site and click on Find a Tax Problem Solver to determine if they are Certified Tax Resolution Specialists.
To combat tax resolution scams, you've got to arm yourself with knowledge. But your best insurance to protect you from tax resolution scams is getting someone you know you can trust on your team.
Tuesday, September 7, 2010
When Professional Development & Middle-Adulthood Collide - Relaunching Your Career
Most people launch their careers in their twenties and thirties with the focus of career development mainly on early adulthood. And what is the ambition at this age? For many, it's getting to "the top" as soon as possible. Some people achieve this goal in their early forties with twenty to thirty career years still ahead of them. Others perhaps do not use goals in their careers; their careers just evolve!
Nonetheless, middle-adulthood, those years from forty to sixty, are often overlooked in career plans. Some of the thinking goes like this: If I make it to the top by forty I won't have to worry about anything else. But what do you do when you make it to "the top" and still have all those years ahead of you? To this writer, it is a prescription for mid-life crisis!
Consider this: In our Twenties we go through the trial and exploratory stage of career development where we search for direction. In our Thirties we are in the transitional stage, synonymous with movement and advancement. The Forties and beyond are considered the stability stage; ongoing with a sound foundation. The irony is that as we move into our forties (middle adulthood) most of us have not done it all. Some of us are forced to restart our careers due to downsizing, soft industries, red flags in our company, being passed-over etc. In some cases we need to get away from a not-so-perfect situation or jump-start a stalled career. In others, we are searching for personal self-development or for a second career or to strike out on our own.
For these reasons and any number of others, most professionals will experience changes, or even upheaval, in mid-life. The answer in not "buy a Harley". According to the Department of Labor and the Job Search Handbook, most professionals will undergo seven to eleven job changes and two to three career changes over the course of their careers. Not only is the market demand for selected skills and career fields changing, but so are our roles as professionals and the way we manage our careers. Thus, career planning is more important than ever.
If you are in middle-adulthood and wondering what to do for the remainder of your career (and assuming that early retirement is not in the picture), don't panic. I have a simple three-step process that I have found in my many years in career marketing to make all the difference in the world.
First, you need to get to know yourself and what it is that you enjoy most; what it is that when doing it does not feel like work. Dr. Charles Ehl, former Dean of Continuing Education at Stonehill College in Easton, MA: "Regardless of past industry or direction, people can be empowered to control their professional destiny through an approach that fuses self-needs analysis, good targeted research and tactical planning in the use of certain techniques beginning with getting to know themselves." By that Dr. Ehl means understanding for themselves-about themselves: What it is that they really value; what they feel they stand for; what it is that drives them to do what they do; what it is they enjoy doing most-are most passionate about; and finally, although it does not necessarily end with this, where they are looking to take themselves, why, and with what end in mind. Through this exercise, the notion of your optimal market will emerge. For example: If you find that your interest in creative writing is so great, you find you are happiest when you are engaged in it, perhaps a move into editing or speech writing, or a move into the publishing industry at large; or developing newsletters for an association, entering the advertising arena or other creative industries may be best.
Second, you need to figure out how to attract your audience - contacts that can help you move towards your goals. Do what politicians do: Get outside impartial viewpoints to provide you with some idea of how others (your audience) may perceive you, and learn about them-do your research. Developing a networking communication strategy and your "talking points" with this knowledge and the fresh ideas about you that others can provide; and with a focus on the needs of your target audience, you will separate yourself from the average person and ultimately paint your own landscape.
Finally, once you have your audience's attention, you will need to talk about yourself. Don Ventura, R.L. Stevens & Associates, a private career marketing firm, suggests using a Story Technique. Ventura says, "Compelling stories which incorporate specific examples of your experiences, achievements and contributions that relate to your market and put you in the right light will be remembered well after the interview is over." People remember your stories more than duties and responsibilities. Here are three concepts that will help you when developing a communication strategy and talking about yourself:
Success Concepts
You must have a purpose; a personal philosophy. In today's uniquely competitive job market the lifespan in an executive position may only be 5 years in some cases (clearly, not as Evergreen as it once was). Jim Sabin, a CIO with The Shaw Group, Inc. the leading Global provider of services to the power industry: "With executive positions in IT, for example, as interchangeable as mouse pads, the need for a sharply honed purpose for 'Plan A' and stratagem for 'B and C' for that matter, has never been more apparent." Purpose could be what it is you feel is important in running a business or what you feel is the business of business; it must be carefully thought out and presented. Think in terms of a one-page presentation to the company directors. You will need to come up with as many success concepts as you can from your past professional experiences and when you begin to assemble your thoughts for your presentation, try to include as many of them as possible. Here are some relevant themes to consider:
1. Personal mission statement
2. Core values; core strengths
3. Driving factors; motivations
4. Level of integrity
5. Value placed on quality
6. Visioning, strategy and facilitating
7. Performance standards you hold for yourself
8. Professional goals
9. Leadership philosophy; management style
10. Communications capabilities
11. Practiced client/public relations
12. Leveraging skill-sets
13. Creative expertise
14. Business knowledge; market intelligence
15. Managing resources
Trigger Concepts
The easiest way to attract people's attention and to help them get to know you is to adopt simple words and phrases which will have an immediate "trigger" effect, such as:
1. Strategic partnering
2. Impact presentations
3. Bringing ideas / vision to utility
4. Bringing products to markets
5. Entrepreneurial talent
6. Driving revenues; growing profits
7. Structuring and restructuring
8. Building responsible teams
9. Managing talent
10. Start up; turnaround; re-emergence
11. Enterprise development
12. Crafting solutions
13. Staying ahead of the curve
14. Managing change-driven environments
15. Driving "large dollar" projects
Philosophy, along with Success and Trigger Concepts is a winning combination. It provides you with control and sets the tone for all future discussions and posturing for negotiations.
Story Technique
One of the most important tenets in product marketing applies here in career planning: Differentiate your product from others in the marketplace.
John Folcarelli, Labor Attorney and Human Resource Manager for Laidlaw Education: "Most people involved in planning their career tend to fly by the seat of their pants rather than exercise control over the process as it unfolds. For instance, in the interview, instead of simply reacting to questions imposed by the interviewer, the job candidate can and should attempt to take on more responsibility for influencing the direction of the interview." The Story Technique does just that. It is a method for bridging your qualifications and past successes to the needs the targeted company. It is also a great example of how to use your Success and Trigger Concepts in presenting the right image and distinguishing you from the competition.
Your stories should tell about actions that you took to bring about positive changes. Story techniques cover the "before", the "action" and the "after." You can begin by first explaining what had existed that required your attention: Situation. Next consider how this new challenge may benefit the enterprise and you: Opportunity. Briefly describe what you did: Action. Lastly, describe the outcome and its benefits to you and the company: Results. Here are two examples of the use of the story technique, or, "S.O.A.R":
(S) I was selected by top management to lead a corporation into the US market and (O) recognized an opportunity to have a big impact on operations at a wholly owned subsidiary.(A) Over a two-year period I developed a cohesive staff which went on to develop 1.5 million square feet of office properties at $350 million which (R) produced over $25 million of net operating income and $4 million net cash flow for the corporation resulting a promotion to President of the wholly owned subsidiary.
(S) The ownership of a physical therapy and sports medicine company recruited me to (O) lead, grow and concurrently stabilize a $4.7 million health systems company staffed by 85 professionals. (A) I developed and executed all business plans and opened new markets in industrial and corporate health promotions, (R) positioning the company for its very profitable $6.6 million sale, $2.5 million more than the ownership had anticipated.
A strong, well-articulated Philosophy, sound Success and Trigger Concepts, and persuasive examples of your successes using the Story Techniques (SOAR) are essential for securing a quality position.
More Than Just a Task
There is certainly more to consider beyond these concepts. Nonetheless, the purpose here is to stimulate your thinking if your situation calls for a serious look at your career. There are times when a simple career adjustment may be called for and other times when a complete change is necessary. In any case, restarting your career in middle-adulthood can be one of the most rewarding experiences in your life. Approach it with enthusiasm, dedication and confidence (but for goodness sake, don't forget "technique").
Nonetheless, middle-adulthood, those years from forty to sixty, are often overlooked in career plans. Some of the thinking goes like this: If I make it to the top by forty I won't have to worry about anything else. But what do you do when you make it to "the top" and still have all those years ahead of you? To this writer, it is a prescription for mid-life crisis!
Consider this: In our Twenties we go through the trial and exploratory stage of career development where we search for direction. In our Thirties we are in the transitional stage, synonymous with movement and advancement. The Forties and beyond are considered the stability stage; ongoing with a sound foundation. The irony is that as we move into our forties (middle adulthood) most of us have not done it all. Some of us are forced to restart our careers due to downsizing, soft industries, red flags in our company, being passed-over etc. In some cases we need to get away from a not-so-perfect situation or jump-start a stalled career. In others, we are searching for personal self-development or for a second career or to strike out on our own.
For these reasons and any number of others, most professionals will experience changes, or even upheaval, in mid-life. The answer in not "buy a Harley". According to the Department of Labor and the Job Search Handbook, most professionals will undergo seven to eleven job changes and two to three career changes over the course of their careers. Not only is the market demand for selected skills and career fields changing, but so are our roles as professionals and the way we manage our careers. Thus, career planning is more important than ever.
If you are in middle-adulthood and wondering what to do for the remainder of your career (and assuming that early retirement is not in the picture), don't panic. I have a simple three-step process that I have found in my many years in career marketing to make all the difference in the world.
First, you need to get to know yourself and what it is that you enjoy most; what it is that when doing it does not feel like work. Dr. Charles Ehl, former Dean of Continuing Education at Stonehill College in Easton, MA: "Regardless of past industry or direction, people can be empowered to control their professional destiny through an approach that fuses self-needs analysis, good targeted research and tactical planning in the use of certain techniques beginning with getting to know themselves." By that Dr. Ehl means understanding for themselves-about themselves: What it is that they really value; what they feel they stand for; what it is that drives them to do what they do; what it is they enjoy doing most-are most passionate about; and finally, although it does not necessarily end with this, where they are looking to take themselves, why, and with what end in mind. Through this exercise, the notion of your optimal market will emerge. For example: If you find that your interest in creative writing is so great, you find you are happiest when you are engaged in it, perhaps a move into editing or speech writing, or a move into the publishing industry at large; or developing newsletters for an association, entering the advertising arena or other creative industries may be best.
Second, you need to figure out how to attract your audience - contacts that can help you move towards your goals. Do what politicians do: Get outside impartial viewpoints to provide you with some idea of how others (your audience) may perceive you, and learn about them-do your research. Developing a networking communication strategy and your "talking points" with this knowledge and the fresh ideas about you that others can provide; and with a focus on the needs of your target audience, you will separate yourself from the average person and ultimately paint your own landscape.
Finally, once you have your audience's attention, you will need to talk about yourself. Don Ventura, R.L. Stevens & Associates, a private career marketing firm, suggests using a Story Technique. Ventura says, "Compelling stories which incorporate specific examples of your experiences, achievements and contributions that relate to your market and put you in the right light will be remembered well after the interview is over." People remember your stories more than duties and responsibilities. Here are three concepts that will help you when developing a communication strategy and talking about yourself:
Success Concepts
You must have a purpose; a personal philosophy. In today's uniquely competitive job market the lifespan in an executive position may only be 5 years in some cases (clearly, not as Evergreen as it once was). Jim Sabin, a CIO with The Shaw Group, Inc. the leading Global provider of services to the power industry: "With executive positions in IT, for example, as interchangeable as mouse pads, the need for a sharply honed purpose for 'Plan A' and stratagem for 'B and C' for that matter, has never been more apparent." Purpose could be what it is you feel is important in running a business or what you feel is the business of business; it must be carefully thought out and presented. Think in terms of a one-page presentation to the company directors. You will need to come up with as many success concepts as you can from your past professional experiences and when you begin to assemble your thoughts for your presentation, try to include as many of them as possible. Here are some relevant themes to consider:
1. Personal mission statement
2. Core values; core strengths
3. Driving factors; motivations
4. Level of integrity
5. Value placed on quality
6. Visioning, strategy and facilitating
7. Performance standards you hold for yourself
8. Professional goals
9. Leadership philosophy; management style
10. Communications capabilities
11. Practiced client/public relations
12. Leveraging skill-sets
13. Creative expertise
14. Business knowledge; market intelligence
15. Managing resources
Trigger Concepts
The easiest way to attract people's attention and to help them get to know you is to adopt simple words and phrases which will have an immediate "trigger" effect, such as:
1. Strategic partnering
2. Impact presentations
3. Bringing ideas / vision to utility
4. Bringing products to markets
5. Entrepreneurial talent
6. Driving revenues; growing profits
7. Structuring and restructuring
8. Building responsible teams
9. Managing talent
10. Start up; turnaround; re-emergence
11. Enterprise development
12. Crafting solutions
13. Staying ahead of the curve
14. Managing change-driven environments
15. Driving "large dollar" projects
Philosophy, along with Success and Trigger Concepts is a winning combination. It provides you with control and sets the tone for all future discussions and posturing for negotiations.
Story Technique
One of the most important tenets in product marketing applies here in career planning: Differentiate your product from others in the marketplace.
John Folcarelli, Labor Attorney and Human Resource Manager for Laidlaw Education: "Most people involved in planning their career tend to fly by the seat of their pants rather than exercise control over the process as it unfolds. For instance, in the interview, instead of simply reacting to questions imposed by the interviewer, the job candidate can and should attempt to take on more responsibility for influencing the direction of the interview." The Story Technique does just that. It is a method for bridging your qualifications and past successes to the needs the targeted company. It is also a great example of how to use your Success and Trigger Concepts in presenting the right image and distinguishing you from the competition.
Your stories should tell about actions that you took to bring about positive changes. Story techniques cover the "before", the "action" and the "after." You can begin by first explaining what had existed that required your attention: Situation. Next consider how this new challenge may benefit the enterprise and you: Opportunity. Briefly describe what you did: Action. Lastly, describe the outcome and its benefits to you and the company: Results. Here are two examples of the use of the story technique, or, "S.O.A.R":
(S) I was selected by top management to lead a corporation into the US market and (O) recognized an opportunity to have a big impact on operations at a wholly owned subsidiary.(A) Over a two-year period I developed a cohesive staff which went on to develop 1.5 million square feet of office properties at $350 million which (R) produced over $25 million of net operating income and $4 million net cash flow for the corporation resulting a promotion to President of the wholly owned subsidiary.
(S) The ownership of a physical therapy and sports medicine company recruited me to (O) lead, grow and concurrently stabilize a $4.7 million health systems company staffed by 85 professionals. (A) I developed and executed all business plans and opened new markets in industrial and corporate health promotions, (R) positioning the company for its very profitable $6.6 million sale, $2.5 million more than the ownership had anticipated.
A strong, well-articulated Philosophy, sound Success and Trigger Concepts, and persuasive examples of your successes using the Story Techniques (SOAR) are essential for securing a quality position.
More Than Just a Task
There is certainly more to consider beyond these concepts. Nonetheless, the purpose here is to stimulate your thinking if your situation calls for a serious look at your career. There are times when a simple career adjustment may be called for and other times when a complete change is necessary. In any case, restarting your career in middle-adulthood can be one of the most rewarding experiences in your life. Approach it with enthusiasm, dedication and confidence (but for goodness sake, don't forget "technique").
Monday, September 6, 2010
How to Register a Professional Corporation ("PA") In Florida
If you are operating, or plan to operate, a professional service in Florida, then you should consider doing so as a professional corporation. This entity is a type of corporation which is organized to render a specifically designated professional service. Examples of services rendered by a professional corporation, just to name a few, are certified public accountants, chiropractors, doctors of medicine, architects, attorneys and life insurance agents. These types of professional services, as noted above, can operate through the vehicle of a professional corporation in Florida. You should note that a professional corporation is also referred to as a "P.A." or professional association.
To form a professional corporation in Florida, you must take the following steps:
• The first step is to prepare articles of incorporation and file the articles with the State of Florida. The articles of incorporation must state the name of the entity, address of the corporation, the name and address of the registered agent, and must state the specific purpose for which the corporation is organized (e.g., chiropractic medicine, Certified Public Accountant, etc.). Please note, the name of the professional corporation must contain the words "chartered" or the words "professional association", or the abbreviation "P.A." Once the articles are prepared, you must file this document with the Florida Division of Corporations along with the state filing fee of $70.00.
• Once the articles of incorporation are filed, you should then obtain a tax identification number for your entity through the Internal Revenue Service. You can apply for a tax ID either online at http://www.irs.gov or call the IRS. Their contact information can be found on the IRS website.
• Next, you should elect "S" corporation status for your entity. To do so, you must complete and submit Form 2553 to the IRS. You can obtain Form 2553 on the IRS website or seek the help of an accountant to assist you with such election.
To form a professional corporation in Florida, you must take the following steps:
• The first step is to prepare articles of incorporation and file the articles with the State of Florida. The articles of incorporation must state the name of the entity, address of the corporation, the name and address of the registered agent, and must state the specific purpose for which the corporation is organized (e.g., chiropractic medicine, Certified Public Accountant, etc.). Please note, the name of the professional corporation must contain the words "chartered" or the words "professional association", or the abbreviation "P.A." Once the articles are prepared, you must file this document with the Florida Division of Corporations along with the state filing fee of $70.00.
• Once the articles of incorporation are filed, you should then obtain a tax identification number for your entity through the Internal Revenue Service. You can apply for a tax ID either online at http://www.irs.gov or call the IRS. Their contact information can be found on the IRS website.
• Next, you should elect "S" corporation status for your entity. To do so, you must complete and submit Form 2553 to the IRS. You can obtain Form 2553 on the IRS website or seek the help of an accountant to assist you with such election.
Thursday, September 2, 2010
Fast and Professional Typing Services - Can You Do Without It?
We can all type, it may be a two-finger job, bashing away at a keyboard, but we can get words on a page and make it look okay. The layout of letters or reports may stump us and okay we are not sure how to really get the best out of our word processing. What we can produce is fine and although it may need a few tweaks here and there it will pass inspection. Close inspection of our work however may prove that what we produce is poor. That is where typing services come in handy.
Who needs these services? The answer is almost anyone can need the help of professional typing services. Students, authors, law firms and teachers are the kind of people that will regularly use a good typing service. Have you got documents that are hard to read or decipher? Do you have a lot of hand written work you would like presented in a more professional way? If you have any documents like that then you need professional services for typing.
Good typing services will cover work such as manuals, screenplays, letters and thesis papers. In fact the work they cover would be an extremely long list. What do you get when you use such a service? You get accuracy, confidentiality and a quick turn around on your work. Good typing services will understand the blood, sweat and tears that have gone into the work you have produced, and will treat it with respect. The prices charged are normally very reasonable.
You may never have considered using services for typing before, but maybe it is time to look at such services. Think of how much more professional you work will look. We all need an edge to what we do and a perfectly turned out thesis or manuscript will give you that edge and make your work stand out. Before you dismiss using typing services, have a look at some and see how reasonable the rates are.
If your still not convinced, sit down at a computer or word processor and have a go yourself at typing up your work. I guarantee that unless you are a professional typist you will be tearing your hair out and cursing at the screen within half an hour. Services for typing are fast, cheap, professional and can make your hard work look great. In short you have nothing to lose and everything to gain by using typing services.
A quick look online will give you an idea of prices charged by any of the professional services. The prices are normally per page or number of words. If your documents are handwritten and not very understandable you may get charged slightly more. You will be pleasantly surprised at the cost involved in turning your hard work into something that looks great and reads well. Give typing services a go and you will wonder how you managed without them before.
Who needs these services? The answer is almost anyone can need the help of professional typing services. Students, authors, law firms and teachers are the kind of people that will regularly use a good typing service. Have you got documents that are hard to read or decipher? Do you have a lot of hand written work you would like presented in a more professional way? If you have any documents like that then you need professional services for typing.
Good typing services will cover work such as manuals, screenplays, letters and thesis papers. In fact the work they cover would be an extremely long list. What do you get when you use such a service? You get accuracy, confidentiality and a quick turn around on your work. Good typing services will understand the blood, sweat and tears that have gone into the work you have produced, and will treat it with respect. The prices charged are normally very reasonable.
You may never have considered using services for typing before, but maybe it is time to look at such services. Think of how much more professional you work will look. We all need an edge to what we do and a perfectly turned out thesis or manuscript will give you that edge and make your work stand out. Before you dismiss using typing services, have a look at some and see how reasonable the rates are.
If your still not convinced, sit down at a computer or word processor and have a go yourself at typing up your work. I guarantee that unless you are a professional typist you will be tearing your hair out and cursing at the screen within half an hour. Services for typing are fast, cheap, professional and can make your hard work look great. In short you have nothing to lose and everything to gain by using typing services.
A quick look online will give you an idea of prices charged by any of the professional services. The prices are normally per page or number of words. If your documents are handwritten and not very understandable you may get charged slightly more. You will be pleasantly surprised at the cost involved in turning your hard work into something that looks great and reads well. Give typing services a go and you will wonder how you managed without them before.
Tuesday, August 31, 2010
6 Tips For Hiring a Good Income Tax Attorney Or Certified Tax Resolution Specialist
While taxpayers are allowed to represent themselves before the IRS, many taxpayers seeking tax relief find dealing with the IRS frustrating, time-consuming, intimidating or all of the above. So they make the decision to hire professional tax help (specialized tax attorney, tax resolution firm, etc.) to negotiate with the IRS on their behalf. An experienced tax attorney or Certified Tax Resolution Specialist (CTRS) who specializes in providing tax relief to individuals and businesses can help resolve tax problems at both the state and federal level. Before you hire a tax resolution professional, check out these top tips for choosing a good tax relief expert to help you resolve your IRS problems.
Understand the cost of going solo: There are many advantages to hiring an income tax attorney or Certified Tax Resolution Specialist, but the greatest advantage is peace of mind and knowing that you are not taking unnecessary risks with your personal and financial freedom. Going in front of the IRS without a tax attorney is like defending yourself in a murder trial. You'll get creamed. To paraphrase the wise old saying, "He who acts as his own tax attorney has a fool for a client." Even if you can't afford to pay your back taxes or have years of unfiled delinquent tax returns, a Certified Tax Resolution Specialist or tax attorney can help you settle your IRS debt by increasing your chances of resolving your back taxes and helping you qualify for a settlement where you only pay back only a fraction of what you owe.
Don't be penny wise but pound foolish: Even when you know you need a tax attorney, it can still be a difficult decision to make when faced with their fees. However, know that not getting professional help can be even more costly. To get the help you need, you need to leverage the specialized knowledge that only an expert income tax attorney or Certified Tax Resolution Specialist can provide. In many instances, retaining professional and reliable tax attorney and tax resolution services will often result in more affordable IRS payment plans and lesser tax penalties. However, when you owe back taxes and you need a tax attorney's help to get the relief you want, the issue at stake is more than just what is on your balance sheet. Issues with back taxes and other IRS problems can be both financially and personally crippling - so you will want to resolve them swiftly and permanently.
Understand your tax settlement options: Your tax attorney or Certified Tax Resolution Specialist should help you understand the process for resolving tax debt so that you have realistic expectations for solving your specific problem. Because the IRS has very strict guidelines governing eligibility for tax settlement, your tax relief professional needs to let you know up front what options are viable for resolving your specific IRS problems.
Know that every tax relief case is different: To get the help you need, you will need personalized attention rather than a one-size-fits-all approach to tax resolutions. Beyond being able to leverage the specialized knowledge only an income tax attorney or Certified Tax Resolution Specialist can provide, you will want to choose a firm with extensive experience and an exceptional track record for success to help ensure your unique case is in good hands.
Look for a firm that offers transparency. It's unfortunate that there are some firms out there that will lowball their initial fees - without letting taxpayers know about additional fees that may be involved further down the road. This is a popular tactic that firms use to secure a client. They start the process by quoting entry-level fees - intentionally leaving out the fact that the Offer in Compromise process can take up to 6-7 months. Because a high percentage of Offers are rejected by the IRS, these cases often have to go to the appellate level - at which point these firms will then turn around and hit the client with additional appellate representation fees. You will want to choose a firm that will help you understand exactly what's involved with achieving a settlement for your specific IRS problem.
A tax attorney will keep you out of future IRS trouble: Hiring professional tax attorneyand tax resolution servicescan not only help you resolve IRS problems from the past, but it can also help you achieve permanent tax relief, making sure you don't run into tax problems in the future.
Understand the cost of going solo: There are many advantages to hiring an income tax attorney or Certified Tax Resolution Specialist, but the greatest advantage is peace of mind and knowing that you are not taking unnecessary risks with your personal and financial freedom. Going in front of the IRS without a tax attorney is like defending yourself in a murder trial. You'll get creamed. To paraphrase the wise old saying, "He who acts as his own tax attorney has a fool for a client." Even if you can't afford to pay your back taxes or have years of unfiled delinquent tax returns, a Certified Tax Resolution Specialist or tax attorney can help you settle your IRS debt by increasing your chances of resolving your back taxes and helping you qualify for a settlement where you only pay back only a fraction of what you owe.
Don't be penny wise but pound foolish: Even when you know you need a tax attorney, it can still be a difficult decision to make when faced with their fees. However, know that not getting professional help can be even more costly. To get the help you need, you need to leverage the specialized knowledge that only an expert income tax attorney or Certified Tax Resolution Specialist can provide. In many instances, retaining professional and reliable tax attorney and tax resolution services will often result in more affordable IRS payment plans and lesser tax penalties. However, when you owe back taxes and you need a tax attorney's help to get the relief you want, the issue at stake is more than just what is on your balance sheet. Issues with back taxes and other IRS problems can be both financially and personally crippling - so you will want to resolve them swiftly and permanently.
Understand your tax settlement options: Your tax attorney or Certified Tax Resolution Specialist should help you understand the process for resolving tax debt so that you have realistic expectations for solving your specific problem. Because the IRS has very strict guidelines governing eligibility for tax settlement, your tax relief professional needs to let you know up front what options are viable for resolving your specific IRS problems.
Know that every tax relief case is different: To get the help you need, you will need personalized attention rather than a one-size-fits-all approach to tax resolutions. Beyond being able to leverage the specialized knowledge only an income tax attorney or Certified Tax Resolution Specialist can provide, you will want to choose a firm with extensive experience and an exceptional track record for success to help ensure your unique case is in good hands.
Look for a firm that offers transparency. It's unfortunate that there are some firms out there that will lowball their initial fees - without letting taxpayers know about additional fees that may be involved further down the road. This is a popular tactic that firms use to secure a client. They start the process by quoting entry-level fees - intentionally leaving out the fact that the Offer in Compromise process can take up to 6-7 months. Because a high percentage of Offers are rejected by the IRS, these cases often have to go to the appellate level - at which point these firms will then turn around and hit the client with additional appellate representation fees. You will want to choose a firm that will help you understand exactly what's involved with achieving a settlement for your specific IRS problem.
A tax attorney will keep you out of future IRS trouble: Hiring professional tax attorneyand tax resolution servicescan not only help you resolve IRS problems from the past, but it can also help you achieve permanent tax relief, making sure you don't run into tax problems in the future.
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