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5 More Seller Finance Options to Consider When Selling Your Business

5 More Seller Finance Options to Consider When Selling Your Business

The need to use seller finance when trying to sell your privately held company has come back into vogue due to the lack of third party finance being readily available. Some techniques less known and used, however, are available but require a clear understanding between the seller and buyer and may then need good legal agreements to clarify, protect and define the responsibilities of each of the parties. Here are five options both a seller and buyer may want to consider.

Option One: if the seller of the business has created intellectual property or some proprietary idea that they don’t wish to sell as part of the business transfer, but the buyer needs that knowledge or invention in the business, the seller and buyer can enter into a licensing agreement. The buyer would pay an agreed fee as a royalty.

Option Two: Another means of a seller receiving payment from the buyer of the business can be via Consulting Agreements. These would be constructed according to what works for both parties but provides a way of maintaining the continuity of knowledge the seller has from owning and operating the business while the buyer acquires that knowledge.

Option Three: If the owner of the business wishes to sell because they have arrived at retirement age but the seller has children working in the business, part of the purchase price negotiations could be the buyer extending a Family Employment Guarantee. This meets the need of the seller because they don’t have to worry about their children no longer being able to work in the business and it comes with a payment the seller is comfortable accepting.

Option Four: Two important benefits to most business owners are health insurance and life insurance. Health insurance coverage; especially for business owners with a pre-existing illness means they cannot readily change their health insurance policy to another company. Negotiating the purchase price where the buyer will continue to allow the seller to keep the same policy and pay for it can be a great benefit and relief to the seller. Life insurance and indeed other forms of insurance can be handled in the same manner.

Option Five: One of the advantages of being an entrepreneur is that you can claim expenses that an employee is unable to claim. Membership at the best golf course in town, driving the latest model car, an annual vacation to Lake Tahoe and other perks sometimes become necessities for some entrepreneurs. Structuring the sale of a business to continue the sellers ‘perks’ can be an appealing option; even if it’s only for a year or two.

Seller finance does not have to be restricted to purely a seller note on the transaction. A seller can be used to receiving many business ‘perks’ they have enjoyed from owning and operating their business. Allowing the seller to continue enjoying those ‘perks’ can be a good strategy when buying a business.…

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How to Beat the Bailiff in 10 Easy Steps

How to Beat the Bailiff in 10 Easy Steps

Being pursued by a debt collector or a bailiff can be one of the most traumatic and stressful experiences imaginable for an individual or family.

In the current economic climate more and more creditors are employing the services of such to recoup unpaid and defaulted debt.

Unlike the bank bail outs, their is little fiscal intervention accessible for those who do not have the means to pay.

With prized possession at stake, the below tried and tested strategies set out, will both educate the debtor in all areas of bailiff avoidance whilst significantly alleviating a major portion of the potential heartache applicable, should your possessions be under duress.

1. Temporarily take your name off the electoral register. The electoral register is the first place a bailiff will look to confirm you are whom they are seeking. Think of it as their telescopic sight on their magnum forty five.

2. Change the name plate on your property door and buzzer; this kills the scent from the seeking bloodhound.

3. Don’t leave any windows open, bailiffs are by law, allowed to enter a property via any stray or open window. Should they achieve such, they are permitted to either clobber you with an on the spot citation or more worryingly appraise and tax the properties goods for resale.

4. Close all blinds and curtains within your home and property. If they can’t get access to the internals of the property, they may look through the properties windows to case the internal goods eligibility for sale before coming back on a second visit with a van to collect.

5. If you have a motor vehicle or car, I would strongly recommend that you place the car in exile at a hidden location. Similar to that witnessed by Napoleon Bonaparte departure to St Helena.

The reason why you should consider this option, is in case the creditor in sheer desperation tries to repossess the car or take a second charge on it. This can occur in the event that the creditor or bailiff fails to recoup the debt via your properties internal goods taxation.

6. Always communicate with bailiffs via email and in doing so, copy in all correspondence you send to them via your local MP’s office, senators office or lawyer. It is important that there is a solid communication stream collated should the dispute go nuclear.

7. If the bailiffs do inadvertently manage to get access to your property, by law they can only take non essential goods like TV’s and stereo’s.

A way to avoid getting these prized consumer goods taxed is to state that these items are in actual fact essential goods, critically required on a daily basis for your work as a media consultant. Obtain a letter from a friends media firm to corroborate this.

8. I would strongly urge that you withdraw any savings or monies you may hold from your bank account during any period of bailiff persueal.

This action will mitigate the horrendous possibility of having your bank account frozen or any attachment on earnings imposed.

Load the savings onto a series of pre pay master cards for daily monetary functioning.

Wages and salaries can also be loaded onto these master cards by your employer.

9. lastly but most importantly, the best nugget I can arm you with during this period of duress, is to implement the successful bailiff avoidance technique I personally used as seen below.

The first thing you need to know about handling bailiffs, is that they are all trained in a technique called NLP or neuro linguistic programming, whereby they can read body language to interpret whether or not the debtor is telling them a big fat porky. Think of it like a poly graph test with out the electronics.

Let me demonstrate if I may.

Upon being confronted at my door with the opening line of ” Christopher Dorman”

The brains natural response is to auto pilot a “Yes” response when one is asked to confirm his or her name. This is basic psychology 101.

If you provide the affirmative Yes response, you will be immediately clobbered with a citation and court would be calling or worse, the bailiffs will enter the property and case your goods eligibility for repossession

To be fair it is a natural reaction to confirm your name, but unless you are asked by a police officer, you are not obligated by law to provide such data.

I therefore strongly recommend that you do the following.

Bailiff ” Christopher Dorman”

Debtor ” Afraid not pal, if you leave your name and number, I’ll forward it on to his new address though”

Providing you provide this response with beautiful nuance, you will avoid the wrath of the collector

only …

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Liability Insurance How Much Is Enough?

On almost every television show you watch, you will see at least one advertisement for auto insurance. Every paper or magazine you read will also have the same thing. Auto insurance is important for every driver, and this article will help you out by giving you the best tips you can find.

To make sure you are getting the best deal on your car insurance, get quotes from at least three different insurers. You can choose to deal with individual insurance companies or you can go to an insurance broker, who can represent several companies and get you quotes from each one.

When buying a new or used car, don’t forget to factor in the cost of insurance. Your dream car may come with an insurance premium that pushes the monthly payment out of your reach. Do some research before you go shopping. You can find average rates for different car models online, or your insurance broker can provide this for you.

If you own an older model vehicle, drop your collision coverage. Most policies have a limited amount collision coverage, that will not pay for more than the blue book value. Investigate how much your vehicle is worth, and then figure out how much the added collision coverage will cost you. Paying the extra coverage amount is sometimes not worth your while.

If you have more than one vehicle, make sure all of your policies are in the same place. This make it much easier to keep track of. More importantly, you might be able to save a little money. The more policies you have with one insurance provider, the more likely you are to qualify for certain deals and discounts.

Find out all of the available discounts that your insurance provider offers. There may be some discounts available that you did not know about when you opened your policy. You may have to take a driver’s course of some kind but it will increase your driving skills and reduce your premiums.

Did you know that it isn’t only your car that affects the price of your insurance? Insurance companies analyze the history of your car, yes, but they also run some checks on you, the driver! Price can be affected by many factors including gender, age, and even past driving incidents.

If you want to save even more money, check into getting all your insurance needs through the same company. Most insurance companies will offer a discount on their insurance if you have more than one policy with them, such as your homeowner’s insurance or renters’ insurance. This can reduce your rates.

Pay your insurance in full when it is due rather than paying it in monthly installments. Your insurance company may charge you more if you choose to pay monthly because of the convenience of it. If you have to, take out a small loan to avoid paying fees to the insurance company.

You see how common having auto insurance is. It is something that no driver should be without. You have taken the time to read this article, so you must be looking for auto insurance for yourself or someone close to you. Take all the advise that you have read here and go make sure you are insured on the road.…

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Simple Tips To Follow To Get Auto Insurance

Auto insurance is a helpful tool for many drivers. It provides protection for drivers in the event of accidents. In many states it is also required by law. If you need any help selecting auto insurance, then the advice in this article will help you with your decision.

When insuring a teenage driver, save money on your car insurance by designating only one of your family’s vehicles as the car your son or daughter will drive. This will save you from paying the increase for all of your vehicles, and the cost of your car insurance will rise only by a small amount.

When you shop for auto insurance, make sure that you are receiving the best possible rate by asking what kinds of discounts your company offers. Auto insurance companies give discounts for things like safe driving, good grades (for students), and features in your car that enhance safety, such as antilock brakes and airbags. So next time, speak up and you could save some money.

Insurance companies figure up your monthly payments in part based on the risk you present as a driver. To lower this risk factor, you can make sure your car or truck is parked away in a garage. Not only does keeping your car in a garage help prevent theft, but it also helps prevent weather damage and other damages that may occur.

If you’re currently covered by a car insurance policy and happen to see the same policy for a better price, do not jump at the offer right away. A lot of drivers will instantly switch sides when they see the dollar signs, but they never bother to read the fine print. Companies lure you in with the promise of low payments, but leave you lacking in coverage, so always be weary of this fact.

Check out your actual insurance costs before heading to the car dealership. Different types of cars carry different premium amounts. Check with your agent on the types and models of cars you are looking at to see which one makes the most financial sense. Being armed with this information at the car lot, will help you make a better deal.

In many states it is now illegal not to have car insurance. If you do get into a bad accident, your auto insurance will pay a percentage of any damages found to be your fault. Not having auto insurance could not only get you a ticket, it could also mean that you are left with huge bills.

If your child receives their driver’s license and you need to get insurance, make sure to ask if your insurer offers a good student discount. Your child will be motivated to keep his grades up in order to keep driving, and you will save money on your monthly premium fee.

In conclusion, auto insurance is helpful for drivers, because it provides protections for drivers in accidents. Auto insurance is required by law in many states, and selecting it may be hard. Using the advice from this article, you can select auto insurance and reap the benefits that other drivers have.…