Solve your debt in 5 days or less!

surprising to find those with six-figure incomes declaring 
bankruptcy. The process comes no longer out of a dire 
necessity, but it is now a means by which people can rid 
themselves of debts that cramp their lifestyle. 
The most common applicants for bankruptcy include recent 
college graduates who file in order to avoid paying back 
government-guaranteed student loans. Their rationale? They 
feel society owed them an education. 
You will also find older, "keep up with the Jones’s" types 
filing for bankruptcy. For suburban executives to Wall 
Street professionals, they are unwilling to live within 
their means. 
The passage of the Federal Bankruptcy Act of 1978 made the 
whole process much easier. This change significantly 
liberalized personal filing procedures in the name of 
consumer rights. 
Chapter 7 makes no reference at all to the debtor's income. 
It permits debtors to clear the slate by turning over all 
their assets except those specifically exempted to 
creditors. Among the exemptions: Up to $7,500.00 equity in 
the debtor's house (15,000 if both file); $4,000.00 in 
accrued dividends; $1,200.00 in automobile equity; $500.00 
in jewelry; $200 per category of household items (including 
clothing, books, etc.) and more! 
Chapter 13 requires that debtors show only a regular income 
to handle a reasonable three-year pay-back plan. The court's 
definition of reasonable happens to be as little as 1% to 
10%, even when a payment of 50% could easily be managed. 


Bookkeeping Made Simple

Please don't think I am calling you a "moron" to hurt your 
feelings in any way. I was a moron when I first started 
setting up my files. I hated accounting in school and am the 
type that would much rather add 2+2 on a calculator than in 
my head -- but you have to do it. You have to force yourself 
to do it NOW -- right at the beginning! Many of a business 
has collapsed simply because they lacked organization in 
their basic accounting business practices. Don't be one of 
them! 
As a small mail order business you don't have to really do 
much in the beginning. Here is how to set up your files from 
ground zero: 
1. Take out a hanging file folder and a label of any kind. 
(Hanging folders and labels for them can be purchased at 
K-Mart, Wal-Mart and any office supply store.) 
2. Type or hand print "Receipts" on the label and place it 
on the hanging folder. 
3. Now, place 5 MANILA file folders inside the hanging file 
folder (which you labeled "Receipts") and label each of the 
manila file folders with the following headings: 
a. Advertising
b. Postage
c. Office Supplies
d. Utilities and Rent for the Office
e. Miscellaneous
You now have one large hanging file folder with 5 separate 
manila file folders inside it. Carefully place your hanging 
file folder in your metal file cabinet or cardboard banker's 
box. (A banker's box can be purchased at any office supply 
store also and normally cost around $4.) 
Now, wasn't that easy? Some of you reading this will think 
that I am attempting to insult your intelligence. This is 
NOT my intention. This report is broken down in a simple, 
step-by-step way so everybody can understand it _ regardless 
of their previous knowledge and experience. Remember, some 
people have never worked in an office their entire life. 
What seems simple and accepted to some of us, may be 
something another person would never have known. 
Okay, let's go back to where we were. You now have one 
master file completed and we're ready to make another just 
like it. This time we'll name the hanging file folder 
"Income" and label 3 manila folders inside it with the 
following headings:  
(A) Completed and Shipped Orders 
(B) Inquiries and Correspondence. 
(C) Open Orders Still Pending.
See how easy? From now on, you simply make another folder as 
the need arrives and you're files will always be easy to 
maintain. (Once you get this concept down pat -- you can 
easily think about getting a computer. A computer organizes 
its information in the SAME manner. Believe me - this same 
system works! You'll be amazed at how many mistakes it will 
help you prevent.) 
Yes - bookkeeping is a very simple process. All you have to 
do is keep the system going. For instance, every order that 
I process, I completely finish before moving on to the next 
order. Example: 
1. Mail is received and opened. As each piece is opened it 
is placed into individual piles. Orders with pre-payment are 
placed in one pile, information and daily correspondence in 
another, and so forth. 
2. Each order that has been pre-paid for is processed first 
- with each one being processed individually to completion. 
(That means it is in an envelope, a label typed out and the 
completed order is ready to be mailed at the post office.) 
3. During the process, the "date," "amount of check or 
payment" and "product ordered" is recorded on the outside of 
the envelope - making sure the customer's full name, address 
and telephone number (if available) is on the envelope too. 
4. Just before closing up the office for the evening, the 
envelopes are then keyed into the database on our computer 
(you can substitute a computer for the hanging files in the 
beginning.) We record all the information that was written 
on the envelopes during the processing of the order. (Don't 
think you will remember "what" the order was. That thinking 
will open you up to make human errors.) 
As your business grows, your understanding and abilities 
will grow also. At that time you can grow into a more 
sophisticated means of keeping the books. 



Stop Collection Agencies In Their Tracks!
Contributed By John Reece
You have the right to STOP collection agencies from ever 
writing or calling you again. The Fair Debt Collection 
Practices Act contains an empowering tool in for the 
consumer. By law, a collection agency must stop contacting 
you after they receive a letter telling them to. The body of 
the letter should basically read: 

You are hereby notified under provision of public laws 
95-109 and 
99-361, also known as the Fair Debt Collection Practices 
act, that  
your services are no longer needed.

Your organization is to immediately CEASE & DESIST all 
attempts to 
collect this debt. I will not recognize any collection 
agency and will