MONEY TRICKY TRICKS : FREE DOWNLOAD EBOOK FACEBOOK MARKETING MANIA

If Facebook was a country, it would be the 3rd largest country in the world right after China and India. 

That is how fast Facebook is growing and is the most visited website on the planet.

If you do not tap into this massive source of traffic immediately, you would potentially be missing out of tons 

of new leads and traffic for your business.

MONEY TRICKY TRICKS : BANKRUPTCY, THE VERY LAST RESORT (AND HOW TO AVOID IT)

Depending in which country of the United Kingdom you live in the procedures and implications of bankruptcy vary. In Scotland it is a fairly straightforward process whereas in England and Wales the procedure is much more complicated. In Northern Ireland the process is different again.

Although personal bankruptcy is possible in England in Wales it is seldom used because of its complex nature. If you have debts arising from running a business, rather than personal debts, it is quite possible that you will be forced into bankruptcy, but that is a whole different situation and is outwith the scope of this guide where only personal debts are considered.

In England and Wales instead of bankruptcy, it is more usual to enter into an Individual Voluntary Agreement. This is a process where the debtor agrees to allow the court to appoint a supervisor who will take charge of the case and see that creditors are dealt with equitably. If it becomes necessary for goods to be seized and sold, the supervisor will divide the proceeds between creditors, after court fees have been paid.

If it is possible to avoid going as far as an IVA you can have the court issue an Administration Order. Here an administrator will take a monthly payment from you and distribute it to your creditors. This process will save you from having any of your property seized provided that you can keep up the monthly payments to the court. If you are being taken to court by one or more creditors, you may wish to consider this option.

The Bankruptcy (Scotland) act (1985) has as its main provision that once debt exceeds £750, either the creditor or debtor (or both) can petition the control and distribution of the debtor's assets by a trustee. This will involve no new actions against the debtor and liabilities will be discharged after three years.

Debt recovery in Northern Ireland is regulated by the Payments for Debts Act (1971) and the Judgements Enforcement Act (1969). The former allows deductions from any statutory benefit for any statutory debt. You can have money deducted at source from wages or state benefits to pay your creditors.

The Judgements Enforcement Act provides for an enforcements office (EJO) to which creditors apply once they have a judgement from the courts. Once the debtor's case is accepted the EJO interacts with the debtor and decides the appropriate methods of recovery. Where the debtor has insufficient means, a certificate of unenforceability can be issued. This is technically the same as bankruptcy.

If you are forced into, or decide voluntarily to apply for, bankruptcy, all your disposable assets, with the exception of some basic necessities such as a bed, clothing, tools of your trade, cutlery, crockery, etc., will be seized and sold at auction to raise funds towards payment of your debts.

If you are forced into bankruptcy anywhere in the UK, your debts are automatically discharged after 3 years and you can start with a 'clean slate'. The exceptions to this are :

Secured creditors, where, if your home has been sold you are liable for any shortfall between the selling price and the amount you owe. You are also liable for interest until the debt has been discharged.

Fines, maintenance orders and family court orders.

Claims made against you for causing personal injury.

Debts incurred through fraud.

Any matter upon which the trustee is still working.

If you own your own home it is possible that you can keep this. Largely this will depend on the equity of the property. If the home is valued at much more than you owe to the mortgage company, you may be forced to sell to release the equity. If there is little or no equity, or indeed negative equity, on the home then, providing that you continue to make mortgage payments, there is every chance that you will not be forced to sell. It is only the case where there is equity tied up in your property that anyone other than your mortgage lender can force a sale anyway.

If you are unemployed and have your mortgage interest payments made directly by the DSS, and your house value is around the same as the outstanding mortgage it is unlikely that you will be forced to sell. One problem which you may have in this situation is that the endowment policy for your home (interest only endowment mortgages) will still need to be paid and the DSS will not offer assistance with it.

If you are in rented accommodation you may have a lease which states that a bankrupt is not allowed to be a tenant and your landlord could force an eviction if this were the case. Also, even if there is no mention in the lease of bankrupt tenants being disallowed, your landlord may force you out because he feels it will be impossible to recover rent arrears from a bankrupt. In this case you will have to apply for specialist housing advice. See your local council housing department about this.

Anyone who is bankrupt will not be allowed (until after discharge) to have credit of more than £250 - you will find it almost impossible to get any credit at all though.

You should try and keep a bank account because as a bankrupt you will be unlikely to even be able to open one of these.

Although the debts are discharged after three years you may well find it almost impossible to get any kind of credit for a period of six years after the issue of the bankruptcy order, because this is the period of time that the credit reference agencies will keep your details on file.

So, all in all, particularly in England & Wales, bankruptcy is best avoided if at all possible. If you closely follow the advice given in this guide then you should be able to avoid bankruptcy. Even your creditors will not want to force you into bankruptcy in all but the most unusual of cases. They are fully aware that if you become bankrupt they are unlikely to get anything but a very small percentage of what is owed to them and are much more inclined to accept reduced payments, particularly in the hope that your situation will improve.

MONEY TRICKY TRICKS : WHAT ABOUT THE FUTURE?

Once you have made arrangements to pay debts at a small fraction of the original instalments, whether through a court or directly with your creditors or debt collection agencies, and have made payments over a period of time, it is worth considering making an offer for full and final settlement.

If you are paying only a tiny portion of the original instalment and your creditor knows that the debt will take years to clear, they will often accept a small portion of the total amount outstanding to fully discharge the debt.

MONEY TRICKY TRICKS : THE NEED TO PLAN

The most important thing in any situation where things become unmanageable is to get a clear picture of the situation and do everything in your power to set things straight. Never ignore the problems....they won't go away!

If you are in the unfortunate position of having more credit than you can repay at the original agreed rates then you must make arrangements to have these rates substantially reduced, so as to turn the situation from one of apparent hopelessness into one which you can handle.

As you will be told in any publication that offers advice to people with debt problems, you must first get a wholly clear picture of your situation and then formulate a strategy for dealing with it.

The first step you should take is to make a list of all the money you owe. This should include everything, even money owed on a casual basis. This will give you a realistic overall picture of the extent of the problem.

When you have listed all your debts, including your mortgage if you have one, you should then make a list of the repayment instalments which were originally agreed. Once you've made such a list you should add all the amounts together to arrive at a figure for your monthly outgoings.

Also, calculate the amount you need to spend each month on the necessities of life; food, clothing, etc. Add this to the monthly outgoings figure from all your credit. If this figure exceeds your total monthly income, then you don't need to be a genius to work out that you are in a financial situation which is most definitely problematical.

By writing down all your incomings and outgoings as suggested above, you should immediately feel some sense of relief that at least you are beginning to address the problem. As the old saying goes - "A problem recognised is a problem halved".

Of course the "half" of the problem which is "solved" by arriving at the stage of it being properly recognised in the first place is, obviously, the easy half. The other "half" of the problem is the part which is going to take some effort to overcome.

When you explain your reasons to creditors for the difficulties you are having in keeping up payments they will much more often than not handle your case in a reasonable and sympathetic fashion. Believe me, they are used to hearing from people with repayment problems.

MONEY TRICKY TRICKS : HUGE PROFITS FROM PROPERTY DEALS - USING OTHER PEOPLES' MONEY.

More fortunes have been made in property than any other area. This is the case for most countries in the world, and certainly for all the economically highly developed countries. The great majority of people fail to make fortunes in property dealing because they imagine that it takes a great deal of expert knowledge and experience and a lot of capital.

Naturally, having capital of your own for any business venture, whether it be property, manufacturing or the provision of a service, would be a good thing. But you may be surprised to know that the vast majority of people who have created vast wealth for themselves through property buying and selling, have done so with money which is not theirs.

MONEY TRICKY TRICKS : A LOAN WHICH IS GUARANTEED BY THE GOVERNMENT.

Because our government is concerned to promote exporting of British goods to overseas markets there is a great deal of government sponsored finance available to the firm or individual who wishes to sell British goods to overseas customers.

The government runs an export credit programme which provides insurance against political and commercial risks involved when selling to foreign buyers and to maximise the attractiveness of terms offered to overseas customers.

MONEY TRICKY TRICKS : "BORROW" MONEY - THAT YOU DON'T NEED TO REPAY.

If you borrow money by obtaining a loan, it is referred to as 'debt' capital. Another source of finance for business is 'equity' capital. Although this is, in the strictest sense of the word, not really borrowing, but exchanging rights to receive certain financial benefits in exchange for providing capital.

Obtaining money from a lender involves the necessity of repaying what has been borrowed, along with an agreed amount of interest. So borrowing money in this way involves the repayment of more than was borrowed. It costs you money to borrow money. You must be sure that any money raised in this way can be used to produce enough of an income which will be large enough to repay the principal, the interest and give an overall, worthwhile profit in addition.

Equity money, on the other hand is money that you can raise which does not need to be paid back. It is essentially funding for which you pledge part of your companies assets in exchange for.

The best way to get equity capital is to go public. Form a public limited company and sell shares to interested investors. Although you are technically 'selling' something in return for this capital, you are not actually having to dispose of any assets, so the money so obtained comes in without the need to give anything up in return for it.

Of course you must retain control of the company by ensuring that you keep ownership of at least 51% of the shares issued. As the main owner you have the final say in how the company is to be run.

So, when you raise equity money, your company does not have to have made a sale of any product. It can raise up to several millions of pounds operating capital without having to dispose of either stock or assets. This capital can be used for a multitude of purposes. You can use it to pay off debts, salaries, rent, taxes, buy property and stock, pay for expenses and running costs and to launch a new marketing campaign in your drive towards profitability.

Another method of borrowing money which you can keep indefinitely is to take out loans to repay existing loans. When the new loan needs to be repaid, take out a further loan to repay it. This may sound somewhat strange as you will have to pay interest on the money borrowed. However, if you need finance in the long term and can use the money to produce enough profit to repay the interest but do not wish to repay the capital, this is an excellent method of doing so.

What to do is to apply for credit at twice the number of banks from which you would actually accept loans. So, if you applied to a dozen banks for £5,000 from each one, and accepted a loan from only half of them, you would raise £30,000. If you have these loans for the short term, i.e. 60 days, you could then go to the remaining six banks and accept the six £5,000 loans to pay off the original ones. This process could be continued so that you are constantly paying back loans with other loans.

This may seem like an unsound way of financing business deals, but when you have access to opportunities which produce sufficient profit to pay for the interest charges and give you a good income also, it can be very useful in that you are not burdened by the need to repay the principal sum borrowed. Or at least to not repay it from your own pocket.

Although this system can be employed to keep the borrowed money indefinitely, the idea is that you should use it for investing in money-making deals which will tie up the capital for the long term. After a prolonged period, and once you have made sufficient profits, the business transactions in which you have taken part should ultimately produce sufficient profits to repay the capital outright.

I have a friend who borrows money using this method and buys property to furnish and let out to tenants. The rental income is always sufficient to repay interest and leave him with a good income. After a few years the property is usually resold to make a capital gain, leaving him with funds to repay the capital borrowed with a tidy sum left over as pure profit for future investment.

MONEY TRICKY TRICKS : FINANCE YOUR BUSINESS - 100%!

Using personal loans and credit cards to raise money for money-making deals is one way of financing your business 100%.

However, if you apply for a business loan, your bank will normally only be prepared to lend you an amount equal to that which you can put up front yourself.

MONEY TRICKY TRICKS : VIRTUALLY UNLIMITED FINANCE FROM YOUR CREDIT CARDS

When I used my credit cards to raise finance for rapid growth business deals I was able to raise over £70,000 on cards alone. I could raise a further £30,000 or so on overdrafts and 'personal reserve' accounts with agreed borrowing limits.

There are many opportunities to make a lot of money in a short time when you have the capital to invest. Naturally, because of the high interest rates payable for cash borrowing on credit cards, the only reason you should borrow large sums of money using this method is to invest in opportunities which virtually guarantee a good profit in a short time.

MONEY TRICKY TRICKS : ALL THE CREDIT CARDS YOU COULD EVER WANT

As discussed in chapters one and two it is possible to build up an excellent credit rating which will allow you to borrow large sums of money from banks.

Providing that you always make agreed payments in full and on time you can then move on to building up a large collection of credit cards. Start with a Visa and Mastercard from all the banks that you have borrowed from. Then apply for cards from any other banks which provide credit cards.

A GUARANTEED INCOME OF £100,000 IN A YEAR.

It is something of a truism that success breeds success. Likewise with money. Money can be used to "breed" money. Provided you have access to the necessary capital in the first instance, and are careful about selecting the kind of opportunities which offer a high return for a minimal risk, you can earn a very worthwhile income...using other peoples' money!