How Does Bankruptcy Happen?

By Pete | @kingpetey | 09 Dec 2016

Most of us were raised to believe that bankruptcy only happened to deadbeats and the financially irresponsible. We were raised to believe that bankruptcy was always someone’s fault and that it could easily be avoided. We were also taught that bankruptcy would ruin our financial prospects for most of our lives. The stereotypes we were raised to believe were wrong.

Changes have been made to bankruptcy laws that have made the process easier and something every filer should be able to overcome. In fact, the experts at San Diego bankruptcy firm, Doan Law, say bankruptcy can even improve your FICO score in most cases.

So how does bankruptcy happen?

Medical Expenses

Today one of the most common impetuses behind filing for bankruptcy is medical bills. People go through an emergency health issue and the resulting bills are too much for them. Even if the hospital is willing to work out a payment plan, the bills are often so large that there is no hope of paying them off within the patient’s lifetime.

It’s true that there are fewer medical-related bankruptcy cases filed these days. The Affordable Care Act (known colloquially as Obamacare) has made healthcare much more affordable for many. It has not, however, completely wiped medical bankruptcies out.

Other Insurance Issues

By now most of you have likely seen the insurance commercial where the agent says that unicorn stampedes are covered by the homeowner’s policy but, unfortunately, flooding is not. Accidents and emergencies that cause significant damage to a person’s home or transportation are another significant source of bankruptcy claims. This is because home and automobile insurance policies are not as strictly regulated as medical insurance companies are now.

Financial Stumbles

These can happen to the best of us and, often, in spite of our better efforts. Consider the following example:

You recently got divorced and you weren’t awarded spousal support or alimony (or, worse, you have to pay it to someone else). It’s not a huge deal. With some downsizing and strict budgeting, you’re sure you can make it work. But life turns out to be slightly more expensive on your own than you had anticipated. People keep wanting you to go out to dinner or take part in other admission-required events. You find yourself pulling out your credit card more than you want to.

Before long, your card is maxed out and your utility bills are due but you can’t pay them because you were pressured into chipping in a bunch of money for a coworker’s baby shower gift. So you opt for a short term loan. The high interest is alarming,  but your bank doesn’t offer loans in the small amount you need so you go with what you can get.

Then, when the loan comes due, the interest is more than you thought it would be and you wind up having to take out another payday loan to pay off the first. And then you need to open up a new line of credit to continue paying your utilities and monthly expenses while you use your salary to pay off your payday loans and your rent. And it just keeps snowballing from there.

Then you get downsized and the financial tightrope you’ve been walking gives way. Sure you could go through debt consolidation but that takes forever and you really need the fresh start--especially since most employers run credit checks as well as background checks on potential recruits these days. Bankruptcy is your only option.

This feels like one of those “that will never happen to me” kind of situations but for many it is all too familiar. Some aren’t able to simply move home or in with roommates. Some don’t have family and friends who would be willing to help bail them out.

Another Common Scenario

You made the leap into freelancing! Good for you! You track your earnings and, in spite of your best intentions, everything you earn gets paid right back out toward your rent, utilities and other necessities. And then tax time comes and you find yourself thousands of dollars in debt to your state and the federal government, so you take out a loan to pay that off. The added expense puts more pressure on you to take on more work but that is slow going (this isn’t your fault, all freelancers experience ebbs and flows). You rely on your credit too much to make ends meet and soon your credit has been exhausted and your score is tanked. You can’t get a new loan. You can’t break your current lease. What do you do?

Bankruptcy can happen to anybody at any time. It no longer carries the stigma it used to. Don’t be afraid to use this option if you need to. Better a fresh start than a lifetime of running from collectors, right?

Monday 5th December in the Alb - 6.30 till late! Free tickets.

We’ve invited some of the digital industries leading talent from both Shropshire and further afield to come along, share skills and present earth-shattering ideas.

There will be four speakers and five minutes at the end of the evening to give you opportunity to share any news or announcements you have. What more could you want?

So why not come along and join us, listen to some inspiring talks, spark your creativity and chat with like-minded people over a beer or maybe even a cocktail or two.

This event will be perfect for anyone that runs a business or freelances within the technology / creative / digital / marketing industries.

Our Rebellion #14 headliners include:

James Arthur - James is Co-founder and CTO of Opendesk and previously Co-Founder of WikiHouse and green.tv.

Phil Nolan - from Lloyds Banking group speaking about Blockchain (the technology behind bitcoin) and it's potential to disrupt the financial sector.

Dale Shepherd - Dale is the manager of Shropshire Council's Digital Services (AKA Project WIP), and a ShropGeek regular. When he's not doing either of those, he can be found at home.

Aaron Child - Aaron is a film maker based in Shrewsbury. He specialises in creative marketing and has made over 100 films for businesses based around Shrewsbury in the last 3 years. His next goal is to buy a VW van, convert it into a travelling office, get a pug (named Diego), and travel Europe making films.

Shropshire has a huge digital / creative industry and there are very few events in the county that directly cater for those involved. This event promises to be a fantastic evening combining talks from some of the most innovative thinkers and doers.

Tickets are free of charge. The doors open at 6.30pm with the first speaker starting at 7pm. Spaces are limited so book now to avoid disappointment.

For full details of the event and to book tickets please visit the website.

While a crowd assembled in and around a bingo hall was quite of a common sight, the popularity of online bingo sites like GameVillage changed the scenario quite a bit by in the last couple of decade.

But if you are probably wondering that the game which was once so popular along the real life, why did it switch itself to an online version? Let us explore a few reasons why online bingo has now made bingo halls obsolete, and also increased the interest in the game itself.

1. Cost

The amount of money required to play a game of bingo for an evening in a bingo hall is about £20, including food, tickets and drink. Not everybody was willing to spend this much money on a game of luck, and travel to the bingo halls had to be arranged, which was problematic. In contract, virtual bingo is much cheaper, as the overhead expenses of travel and food doesn’t exist.

2. Convenience

As mentioned before, after a hard day of work, travelling to a bingo hall to play was not an ideal prospect. Finding a table, setting up tickets, and daubing by oneself was too much work. However, with online bingo, there is an “autoplay” feature that allows automatic daubing, and one can play with multiple tickets, which was not possible in real. The added benefit of playing from the comfort of ones own home encouraged more plays to shift online.

3. Smoking Ban

It is estimated that nearly half of all bingo players are also smokers. The ban on smoking in bingo halls hit business to a great extent, and new rules stipulate that players must go out of the hall to smoke during breaks. Traditionally, most money was generated during these breaks with “table top bingo”, which will not be possible now. In virtual bingo, one can smoke or do whatsoever one pleases, as it is within the confines of home.

4. Socialising

Bingo halls have always been an important arena to socialise. The community and interpersonal aspect of bingo was one of the main factors drawing players back. With the advent of online bingo, most online sites catered to this need for interaction by adding a chat option. Players could now interact, with hosts as well as other players, while the auto daubing function ensured that they did not miss out on number calls.

5. Speed

A major drawback of traditional bingo halls was the amount of time spent per game. Numbers were called out multiple times, and until most people had daubed theirs, a new number was not called out. This problem was solved by online bingo, as random numbers were automatically generated and marked on tickets. The ease of using multiple tickets also ensured that for the time they spent, a player was guaranteed a better chance of winning.

6. Features

With latest software, the bingo slots are now so much more entertaining and interactive, often accompanied by music and artistic animations. Themes for games also ensure that players remain interested, and the option of instantly switching between different types like 90 ball, 80 ball, 75 ball bingo allow for versatility.

So what are you waiting for? Come and join all the bingo fun online!

If you find that you like certain mobile ads better than others, you’re not alone. This is because mobile ads affect your mind more than you might think. According to a new study from mobile brand advertising leader Kargo, certain types of ads captivate mobile consumers while others are more likely to aggravate them.

Why does this matter? The findings of such a study can be highly beneficial to the marketing industry, which is always hard at work trying to figure out what types of ads are the most effective in terms of being well-received by users. Plus, knowing this information would be highly useful in regard to establishing the most optimal mobile app monetization strategy.

Kargo's study – The “Captivate vs. Aggravate” study – was conducted with the help of neuroscience research firm MediaScience. The study analyzed both the emotional and rational responses that consumers had to four different types of mobile ads within top editorial environments. More specifically, the study tracked the neurological reactions that the participants had to various ad formats by analyzing eye movements, attitude changes and biometric responses.

What the researchers learned from the study was that the size of the ad played an important factor in terms of how well consumers responded to it. That being said, bigger wasn’t always best. Furthermore, interstitial ads - those that pop-up and cover the full screen – are viewed by users as being the most intrusive and annoying. When these ads appear the users’ attention to them dropped dramatically.

On the other hand, consumers appeared to be happier with in-stream advertising. These are ads that are placed in between content. For instance, they may appear at the end of a game or a game level, etc. It is thought that users may find these ads more appealing because the engagement is user-controlled. Interestingly, the study also found that even if participants didn’t like the ad format it did not impact their opinions about the brand or the editorial content around the advertisement.

Another study by neuromarketing leaders Neurons Inc. and True Impact also tested the reactions mobile consumers had to certain ads. This study was conducted in an effort to help marketers better understand how users react to in-app mobile video ads and how users engage with them. This information gives insight to brand recall, human attention and higher ad receptivity. The report about this neuroscience study was released by MediaBrix, the leading in-app mobile video advertising platform for brands.

The study focused on testing the reactions users had to ads that were delivered in two formats but that had the same creative, which was either from MillerCoors or a global confection brand. What the researchers discovered was that embedded opt-in ads that were presented within the context of the consumer’s experience and that rewarded attention were received much better than standard interstitial video ads. In fact, the opt-in advertising yielded eight times more mental engagement from the users as well as over three times the amount of time spent with the brand, and far greater brand recall and positive sentiment.

What the study showed was that an ad delivery style that enables a brand to add context and value to the consumer while identifying emotional and meaningful moments, leads to the most significant brand-consumer relationship, which – in turn - results in a higher return on investment.

Making money while playing games - how many of you have thought of this as children, or even young adults? I guess many of you have dreamed of it, even if your moms used to tell you that "nobody is going to pay you for playing non-stop". Thanks to modern technology, we now have several ways to be paid for playing games. Some of them involve a career in the game development industry - but these are usually not as much fun as they sound. But there's another way to get paid to play, with no need for expertise - but only luck. It's call an online casino.

Entertainment for money

The online casino industry is the only branch of the iGaming business that relies on simple, entertaining games to make a living. And most players at the wildjackcasino.com are there not to make a buck, but to have fun in their own way. Most casino games at the Wild Jack Casino are designed to entertain first, and you need a lot of luck for them to be profitable in the long run. They are built this way - although they are completely fair, most games at the Wild Jack Casino are far too unreliable to be considered as a steady source of income. But slot machines are not the only games at the Wild Jack Casino that are fun to play. There are several others that, when played the right way, can help you round up your budget. Or even make you rich - if you are very lucky.

Games for the pros

Most casino games are completely random, but there are some that have a lower variance. Blackjack is one of them - it is considered by many the game with the most profit-making potential in the long run. Simply playing blackjack is usually not enough for success, though - it is random enough for it to be almost completely unpredictable. What makes it special, though, is that it leaves a lot of room for player decision. And taking the right decision at the blackjack table often means the difference between winning and losing.

The most widespread method of turning blackjack into a profitable game is the so-called "basic strategy". This consists of a list of recommendations about what you should do (and not do) depending on the value of your hand, and the card revealed by the dealer. It's quite easy to learn, and equally easy to use. Applying the basic strategy can improve the percentage of your winning hands significantly. Other games with a series of relatively "safe" bets are War, video poker, and Roulette. All of these can be played in a way for them to be in the player's advantage. And all of them are fun games to play, so you can play games, be entertained, and make a buck at the same time.

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