Category: Legal Branding

A report released by the International finance corporation (IFC) indicates that up to 35% of Indian businesses receive payments after 90 days of delivering their services/goods. A majority of the revenue remains inaccessible in the form of receivables. Partly down to the logistic and bureaucratic issues, these not only postpone critical business ventures but also affect its expansion.

To maintain positive cash flow, the ratio between the gross working capital and current liabilities must be greater than 1.

Here are a few ways you can maintain the required cash flow that is necessary for a successful business:

Break-even point

The break-even point does not directly impact your cash flow. Nonetheless, experts state it is a way to set up goals that help you better manage your investments.

Knowing your break-even point allows you to strategize your budget accordingly. Top entrepreneurs consider it an optimal way to improve their cash management skills, enabling a better cash flow in the future.

Maintaining a cash reserve besides gross working capital

A cash reserve ensures that a business has necessary funds to rely on during shortfalls. Experts have stated that every company faces specific financial challenges during their lifetime.

Having proper financial support ensures that your business is not affected by any monetary requirements. Also, any gaps in your cash reserves can be easily overcome with the help of a simple business loan. This not only allows your business to grow freely but also ensures you have steady cash flow even during a crisis.

An early collection of receivables

In order to maintain the cash flow, business owners are advised to shorten their average collection period. Here are a few possible ways to collect receivables –

• Issue a dunning letter which is a reminder sent to the customer/dealer stating their payment is overdue.
• Divide the total number of overdue cases. Prioritise on the ones with the most amounts and focus your efforts on collecting them first.
• You can even dispatch someone to approach them directly and ask for payments.
• You can withhold the next set of services/goods. Nonetheless, experts suggest you inform them beforehand.

In most cases, it is observed that the key to collecting receivables is to be proactive and continuously following-up on your customers.

Partial payments

It is advised that you ask your customers to make partial payments if they are unable to pay you the entire overdue amount at once. Understand that your net working capital never needs the entirety of current assets available for the transaction into cash.

Partial payments are considered as one of the key cash management tips for seasonal business owners. Top entrepreneurs even ask for partial payment as a security deposit in order to maintain the cash flow. They state that it also encourages them to pay in parts since they do not have to pay a considerable amount of money all at once.

Offer discounts

Business owners are known to offer attractive discounts to customers who are willing to pay before the pre-decided term.

Hire an expert

Large-scale businesses appoint one or multiple accountants to look after the cash flow. Hiring a CFO can become a significant liability for individual small scale businesses. Nonetheless, an experienced CFO does not only with managing the cash flow. They can also help you avoid the common cash management pitfalls occurring in businesses.

Extend payables

When working with your suppliers, it is advised that you decide the longest payable date possible. Consider your current financial situation and contingencies together to decide on such a payable date.

If your gross working capital to liabilities ratio is close to or lesser than 1, the cash flow of your business may not be sufficient to manage future contingencies. In such a scenario, you can consider business loans offered by financial institutions.

Opt for additional benefits that can help you avail the loan with more ease. For instance, Bajaj Finserv brings pre-approved offers that make availing loans quick and simple. These offers are available on business loans as well as on personal loans, home loans, etc.

Top business owners focus on their cash flow as they are aware that it is a critical factor in ensuring the success of their organisation. The points mentioned above are some of the most practised methods by experienced entrepreneurs.

The settlement of car accident cases is a complex affair. But thankfully, the very objective of personal injury law is to enable victims to get the compensation they deserve. Still, everything depends on their ability to prove facts with tangible evidence. In such a situation, a third-party witness who happened to be present during the mishap can be a valuable resource for establishing the facts. Eyewitnesses are also often the first people to check the injured. So they can easily offer context to the physical and environmental factors related to the accident. Moreover, they may even have key pieces of evidence such as pictures or video recordings which could be critical to the case. There are more reasons why the role of eyewitnesses in car accident cases can be vital.

They are neutral parties

The statements of witnesses serve as neutral third-party evidence that can substantiate the victim’s account of the accident. However, you need to be very careful with the choice of witnesses; pick the ones who were neither at-fault in the mishap and nor were harmed in it. Only then would they be regarded as neutral parties and the court would consider their testimony as an unbiased version of the incident.

They enable the establishment of fault

Another reason why these neutral parties who have been present at the crash venue are important is that they can help in the establishment of fault. Their testimony often enables the determination of the at-fault party, which can help in clarifying the case quickly. For example, someone who has seen the mishap first hand can confirm if the driver was texting while driving or was at high speed which led to the accident.

They can fill in information gaps

It is common for accident victims to have memory gaps while recalling the entire incident in the court. Even though it usually happens due to trauma caused by the crash, it can actually break their case. Witness testimonies, specifically extremely detailed ones, can strengthen the case by filling crucial gaps. And in many cases, they can actually tilt the case in the victim’s favor and get them the settlement they deserve.

They aid quick settlement

If you are a victim awaiting your compensation after a serious accident, you will probably know the value of getting it quickly. If you contact a car wreck attorney at Diaz Law Firm, they will make sure that you get a quick settlement. Having a witness testimony can be a big plus in this context. It often takes the case to a fair and speedy settlement, which can get your life back on track as soon as possible.

Still, there is the question of credibility!!

While eyewitnesses can make all the difference to your case, the biggest concern while using their testimonies is credibility. While victims may assume a show of good faith from them in sharing an honest narration, there could be reasons for the defendants to question their credibility. There could be questions related to the location of the witness at the time of the accident, their judgment and viewpoint, and even their health factors and character. This is where having a seasoned lawyer handling your case can make a difference.

Considering the value of eyewitnesses in an accident, victims should make sure that they use these testimonies to their advantage. An honest and credible witness who is ready to narrate the incident correctly can be a catalyst for your case in terms of securing a fair and quick settlement.

Your criminal history can be a lifelong burden you carry everywhere you go, even if you mend your ways and have no intention of being on the wrong side of the law ever again. Your credibility suffers, not just in the court but in everyday life as well. And the consequences can last for years and decades, impacting your education and job prospects in the future. What’s more, you may also face issues with some life-changing things like immigration and marriage as well. Naturally, not having a spotless criminal history can be a big problem for anyone. Fortunately, you have an opportunity to clear your record with criminal record expungement. However, there are several myths and misconceptions that shroud this process and keep people from going ahead with it. Debunking them is a great idea if you want to get started with clearing up your records and make life easier for yourself.

Myth #1: Getting records expunged means that they will not show up in the future checks

Public records change constantly based on the correction of errors, updates in case statuses, and expungements. The completeness of a file depends on how often public record information is reviewed and updated by the CRA. The concern here is that different agencies purchase the public records in bulk and do not update the ones they have on a regular basis. However, this shouldn’t dissuade you from expunging your record. There are different laws to protect you from the case being used against you by the potential employers or landlords. And most of them will probably rely only on Google for background checks because they wouldn’t want to risk getting sued under these laws.

Myth #2: Criminal records are permanent

You may believe that criminal records are going to stay with you for a lifetime but this is a major misconception that you should steer clear of. Typically, a criminal record is difficult to undo if a defendant pleads guilty in court or is found guilty by a jury. Moreover, it is to be noted that some criminal charges are not sealable or expugnable at all. Still, a majority of them are expugnable, such as the ones resolved in the following ways:

• Court charges are not filed
• The case is dismissed before trial
• Identity theft issue
• Felony court charges are not filed as part of a misdemeanor arrest
• Executive pardon
• Conviction is reversed in Court of Criminal Appeals

Apart from these circumstances, expungement may also work even if you plead guilty or are found guilty but don’t have a prior criminal record.

Myth #3: Convictions only appear on criminal records

If you think that you need not worry about your records unless you are convicted, this may land you in trouble. While conviction only appears on criminal records for many states, it does not hold true everywhere. Technically, the record of dismissal will stay public till you ask the court to expunge. The best way out is to let criminal record expungement lawyers handle it for you. They will know the state-specific norms and ensure that your records are clear of arrests, pending charges, and dismissed charges. It is always good to be double sure and gave your record expunged if there is a doubt in the event of the case against you being dismissed.

Myth #4: The conviction falls off the record automatically if you stay clear

Another expungement myth is that criminal convictions fall off the record automatically if you stay clear of any wrongful activities for a long time span (maybe 5 or 10 years). However, these cases are not automatically sealed from your record just because sufficient time has lapsed without further criminal incidents. While the time limit may hold true under certain eligibility conditions, the process is not automatic. Even if a charge gets dismissed after the successful completion of probation period in a deferred sentence, the expungement process is still not necessarily automatic. You have to take the required legal action to get your records cleared up, no matter how long ago you were involved in a case.

Myth #5: Juvenile records are sealed automatically

You may think that juvenile records are sealed automatically once the defendant reaches the age of 18 or 21, but this is another misconception that needs to be cleared. The truth is that even these juvenile records are not sealed automatically just because the offender committed the offense at a young age. The process has to be followed as usual, but the comforting fact is that these records are frequently sealable or expugnable. Additionally, certain kinds of juvenile offenses, such as MIP (Minor in Possession of alcohol) and failure to attend school might be expugnable, regardless of the fact that the juvenile defendant pleaded guilty and received probation.

Myth #6: You need to admit expungement on employment applications

People seeking expungement may believe that the effort won’t do them any good because they still have to admit it on their employment applications in the future. However, this is not true in all the states. In Oklahoma, for example, you need not disclose the conviction to the potential employers once your record has been expunged. In fact, you may even deem that the conviction never happened in the first place. Simply speaking, you can legally state that it never occurred because no such record exists. 

Now that these myths and misconceptions about criminal expungement are debunked, the facts are clearer than ever. It is evident that you must apply for expungement to get your records clear and put your life back on track. After all, you shouldn’t lose great opportunities because of a bad past when you have a bright future ahead. The best way to get started is to consult an expert lawyer who specializes in such cases. They can help you determine your eligibility and complete the filing process for you. Since the process is long and complicated, it makes sense to choose a lawyer who has done it before for clients and has a good track record as well.

Regardless of the reason why you don’t have your degree, it’s good to know that there are high-paying jobs that don’t necessarily require a bachelor’s degree. There are more and more employment opportunities out there that you can apply for with only a certificate or some experience. Furthermore, you can also create opportunities for yourself by starting your own business. Or if you feel stuck at work and want a change in your career. However, you need to properly research certain occupations before you commit to them seeing as how some options are better than others. Listed below are some high demand jobs for you to consider.

Computer support specialist

While there are positions such as computer programmers and computer security analysts that more often than not require a degree, there are also IT-related jobs where a college degree is not obligatory. One of those is a computer support specialist. In case you have expansive computer knowledge and great people skills, this might be the right job for you. Keep in mind, though, that some companies could ask for an associate degree or require you to go through a certification program. Your tasks here will include helping people and companies solve their computer equipment and/or software issues. This job can be done online, over the phone or in-person, depending on where you apply. Sometimes it can be more specific than that. It all depends on the company and its product. For example, Database Administrators are in high demand now because of the tendency to accumulate and optimize consumer data. Check these DBA interview questions to figure out whether you are ready for this job or not.

Ultrasound technician

If you are looking for a job in the medical field, you can perhaps consider being an ultrasound technician. Also known as a diagnostic medical sonographer, this profession is experiencing fast job growth. Even though there is the option of getting a bachelor’s degree in sonography, this job can also be done with an associate degree or after a one-year certificate program. Places, where you can look for employment, include hospitals, medical centers, doctor’s offices, private practices and laboratories.

Radiologic technician

Similarly to ultrasound technicians, radiologic technicians do not need a bachelor’s degree. They can find work with an associate degree in MRI or radiologic technology as well as with a one- or two-year long certificate program. Another job that is in demand according to the Occupational Outlook Handbook, radiologic technicians work in hospitals, laboratories and outpatient care centers where they take and evaluate X-ray images.

Pharmacy technician

Most pharmacy technicians learn through practical training, which means that a four-year degree is not required in most cases. What is more, certain vocation schools even offer programs in pharmacy technology after which the student can get a certificate. If you choose this path, you will be helping pharmacists in dispensing medications to customers and health professionals. You can find work in drug stores and pharmacies but also in private practices and hospitals.

Truck driver

Perhaps your strengths lie in transport. This is a great option if you love driving and spending time on your own. However, seeing as how trucking jobs are many, you will have to look into your options and see which position might be the best choice. If you already have a license, you can start your own transport business or become an instructor. On the other hand, you can look into driving schools such as Arrow Heavy Vehicle Training and get your HR, HC or MC license that will allow you to gain confidence behind the wheel and the skills you need to move ahead in your career.

Commercial pilot

In case flying is something that interests you, you can also make a career out of it. Perhaps you already have your license but are not aware of all the potential it holds. If you don’t have it yet, you’ll be glad to hear that commercial pilots only require a high school diploma and a flying license. You can turn to independent FAA-certified flight instructors and schools that offer training and become a pilot if you have what it takes. In addition to flying the aircraft for aerial tours and charter flights, you will also have to take care of scheduling flights, handle the maintenance of the plane and load your passengers’ luggage.

Makeup artist

Have you ever tried doing makeup on other people? Do you have a gift? Then, maybe becoming a makeup artist is what you were destined to do. What is great about this profession is that there are many areas where it is necessary. From working in a theater or on a film set through having your own salon all the way to joining a celebrity glam squad, your options abound. However, you will have to prove that you have what it takes. Think about attending a class where you will receive a certificate or see whether you could profit from acquiring a cosmetology license as well. One way to promote yourself and your skills is by posting your work online either on Instagram or YouTube. This can be a great way to get spotted.

If any of these seven jobs caught your eye, make sure you do proper research to see whether they are what you want to do and if there are any openings available in your area.

About the author

Ron Wolf is a hobby designer and a DIY enthusiast, and, above all, a very blessed father of two. Besides that, he has a strong passion for writing. He is a featured blogger at various blogs and magazines in which he shared his research and experience with the vast online community. If he is not working he enjoys being outside with his family. Hiking, bike riding, and BBQing are always a thing for him. In the evening, he likes to watch documentaries or build something with kids in their lego corner. 

Although accident victims have personal injury law in their favor, the chances of securing a claim greatly depends on your ability to prove the fault. After all, you cannot expect to be compensated if the accident was caused by your mistake or negligence. Conversely, you can rightfully seek compensation by proving that the other driver had been negligent. For this reason, you need to be aware about the value of determining the responsibility in such cases. Being able to prove it decides the outcome to a considerable extent. While it is best to let experts determine the fault, there are some facts you should know about how it is done.

Rules may vary by state

It is to be noted that different states approach fault in car accidents differently. The diverse types of faults that vary from state to state include pure comparative negligence, modified compared negligence and contributory negligence. So the outcome of your case depends on how it is viewed in your state. It is best to get legal representation because only experts can help you determine fault in the mishap based on the rules applicable in the state.

Police report is vital before taking legal action

Before you pursue any legal action after the wreck, getting a copy of the police report is a good idea. The report can help you in proving the accident’s responsibility because the officer would have recorded that the other driver was responsible for the mishap. If that is the case, the report can serve as a valuable tool in protecting your interests and proving the liability of the guilty driver. It is, therefore, your prime duty to report the accident immediately to the police. They will be there and record everything in their report, besides gathering testimonies and available evidence.

Insurance companies assess fault thoroughly

Even though a police report is a vital piece of evidence in a car accident case, the insurance companies also go the extra mile to assess fault thoroughly. Stephen Whiskin from Waymanandlong.legal explains that there are many ways that lawyers and insurance companies determine fault in a car accident, and some of them might surprise you. Still, it is valuable to pay attention to an adjuster’s assessment because it will determine how compensation will pan out.

Evidence collected plays a key role

When the insurance company starts evaluating an accident, evidence plays a significant role. Besides the police report, evidence includes pieces such as photos of the wreck scene, eyewitness testimonies and any other proof that can show what happened at the site. Being alert after the accident can help in gathering as much evidence as possible. For example, you can take photos with your mobile camera and jot down the contact information of the eye witnesses. These can be useful for determining the responsibility of the guilty driver and getting you the claim you deserve.

Being able to prove the fault can speed up the claims process, even while the insurance company tries to mitigate the circumstances. So you must go the extra mile to gather the evidence you can so that you can present it during the proceedings.

Running a company is a lot of hard work and has many risks involved. Amongst these risks, insolvency is a situation that no business owner would ever want to deal with. Unfortunately, it is something that can happen to anyone and in the most unexpected way. Therefore, it is always better to be aware of the options you can explore to salvage your business before resorting to liquidation. Timely and appropriate action can save your company and even get you an opportunity to make a turnaround at the last moment. Even a struggling company with massive debts, creditor and tax burdens, and cash-flow issues can be rescued if you take the right approach towards handling an impending insolvency. Here are some steps that can help you save your business from being declared insolvent.

Concentrate your efforts on the best customers

When a business deals with multiple customers, they know that each of them is unique. While some are demanding and take a long time in clearing payments, others have a great relationship with the company and are always one step ahead with the payments. Concentrating on the best customers is the right thing to do when you are struggling to stay afloat. Make it a point to focus on the customers you consider reliable and profitable because they can contribute to improving your cash-flow. Rather than taking on any new customers, this is the time to maximize business with the existing ones. This will reduce your marketing and sales investment while increasing your earnings.

Explore your funding options

Customers keep your cash flow and working capital alive but you also need to consolidate your foundation for cutting down the insolvency risk. Insufficient capital at a stage when you are already struggling can be a killer. So you need to explore funding options, even if it means that you have to incur some debt burden. Having too little debt sounds great, but it is no use if you end up being insolvent. Look for bank loans or alternative funding to keep up with your taxes, supplier bills and employee salaries. Obviously, it makes a sensible idea to save your business from drowning when insolvency appears to be just around the corner.

Consult an insolvency practitioner

An insolvency practitioner can play a key role in saving a business that is facing an impending insolvency. They can act as a professional intermediary in the entire proceedings and even get you a turnaround option when there is no hope. You can check https://antonybatty.com/about-our-insolvency-practitioners/croydon-office/ to explore the services and solutions they can provide for businesses. While they do handle the legal aspects of insolvency and turnaround, dealing with insolvency professionals also brings greater confidence in your creditors and makes the path easier for your business.

Call in outstanding debts

Businesses that are on the brink of insolvency obviously have a long list of creditors to pay off. At the same time, there may be some outstanding debts that you have to get from your debtors. One of the key causes of cash-flow issues is that companies allow outstanding debts to be unpaid for significant periods. If you fear losing out, now is the time to call back everything that is due to you. Get in touch with your debtors immediately and give them reminder notices. If they still do not pay back, consider recovery by using a debt collections company. Have a plan for the future as well, with strategies like offering early payment discounts for increasing the cash flow for the business.

Cut costs and repay creditors

Even the potentially profitable businesses may experience cash-flow problems and encounter insolvency apprehensions due to excessive spending. In fact, this is the main reason why things start going downhill for most of the organizations. The frivolous yet avoidable expenses relate to equipment, salaries, marketing or other operational costs. You can try different ways to curb expenses, from focusing only on core activities to making redundancies and cutting the marketing budget. Trim every spending that you possibly can. Also, use the saving smartly by paying out your dues to creditors and suppliers. While this approach will reduce debt and interest burden, it also lets your business regain trust and make a comeback as a viable company.

Though dealing with insolvency requires a great deal of courage and conviction, making a turnaround is still a possibility for a majority of businesses. Taking the right approach and collaborating with a seasoned professional can help you steer your organization in the right direction and bring it back on track subsequently.

Workplace accidents are more common than you may think. And a more surprising fact is that such injuries go beyond physical problems, rather they affect the victims psychologically as well. To make things worse, these psychological effects tend to go unnoticed and untreated. As a result, victims are left in a state of frustration, uncertainty and oftentimes depression. The psychological effects of physical injury come ahead in the form of post-traumatic stress disorder (PTSD), anxiety and other types of mental stress.

When it comes to injury at the workplace, victims are most likely to suffer from financial stress too. The fear of looming disability and job loss can be traumatic. Fortunately, you may be eligible to get workers’ compensation benefits for such mental injuries if you have a workplace accident. Being aware of the psychological impact of these injuries, therefore, becomes essential if you seek to claim compensation for them. Let us explain them in detail.

Occupational injuries can cause depression

Research indicates that the rates of depression are higher in people who suffer from workplace injury.  When coupled with physical injuries, depression can have a serious impact on the victim. It is, therefore, vital to recognize depression in time so that you can get financial compensation and therapeutic aid for the problem. Not aiding victims can be detrimental for the business as well because they are as responsible for psychological impact of workplace injuries as for the physical and financial impacts.

There are other serious implications of workplace injuries

In addition to depression, there are several other serious implications that injured employees may have to deal with. These can range from anxiety to mood disorders, adjustment disorders, and substance abuse. Further, the stress of impending unemployment can just aggravate the problem. Daniel Gordon of the Gordon & Gordon Law Firm explains that you might be eligible for income replacement benefits if you aren’t able to return to work immediately after an accident or injury. While this will put your finances back on track, it can alleviate the psychological impact of the injury as well.

Psychological injuries can delay recovery too

Another aspect that every workplace injury victim needs to understand about the psychological injuries at workplace is that they can delay recovery as well. Obviously, the longer you take to recover, the later you will be able to resume normal activities. This can have a far-reaching effect on your well being and quality of life and social interactions. The risk of trauma is even greater in some specific cases such as divorced and widowed workers, those with low income and lack of access to healthcare.

The laws related to mental stress workers’ compensation claims differ by state. Moreover, such cases are difficult to handle as proving psychological impact is seldom easy. Prevailing on such a claim requires the worker to prove that a mental injury occurred as the result of a work-related psychological stimulus. Hence, it becomes important to have a seasoned attorney handling your case to ensure that you get the compensation you rightfully deserve.

As per the law, it is expected that the working conditions provided by your employer are safe and healthy. However, accidents do happen, and that is why it is recommended that you consider working where there exists a sound workers’ compensation policy which protects you as an employee. Worker’s compensation is essentially a reimbursement that you are supposed to receive in the event of an injury at work. But what happens if your employer fights against your quest for compensation? Well, we have detailed the steps you should take to handle the situation.

Steps to take if your Workers’ Compensation Claim is denied

Find out why

For starters, there are several reasons why your workers’ compensation can be denied. Some of the common causes are perhaps if the injury was not reported on time, if the claim was not filed on time or if there is no medical treatment evidence presented etc. The claim can also be denied on the grounds of insufficient evidence that the injury was not work-related. That is why it is essential to find out why the claims were dismissed before moving to the next step.

Appeal against the worker’s compensation denial

After finding out why your claim was denied, you can move with speed to appeal the decision. The denial letter should indicate within what period you should appeal. This could range from 15 to 30 days. However, you should meet your employer before initiating the process of appeal. That is because the denial could have been a slight misunderstanding that can be settled at the workplace level.

If you decide to go on with the appeal, you should consider consulting an experienced personal injury attorney to represent you before an administrative law judge. You can click here to find more about how a worker’s compensation attorney can help you in the appeal process. Frankly, you are more likely to get your workers’ comp if you have an experienced personal injury lawyer representing you.

Prepare your defense

Now, if you are to defend your case successfully, you will need to carry along any documentation that supports your claim. These documents should be based on the grounds for your appeal.  So, ensure that you put together any supporting documentation such as a medical examination and time sheet indicating the injury, evidence that it occurred while working and negligence on the employer’s side, etc. That will be important to support and make your case stronger.

Find witnesses

It would be vital if you get fellow workers who can attest to the authenticity of your case. If, for example, the injury occurred at the workplace in the presence of other workers, it would help if they give testimony before the administrative judge to support your case.

Embark on job search

Although compelling your employer to cater to your worker’s compensation through appeal is your right, you might lose your job in the process. This is notwithstanding the fact that no employer should fire an employee for demanding their rights. That said, it is essential to find a job while appealing for compensation. It’s good to have a good backup in such a scenario.

Final word

As a worker, you are entitled to a safe and healthy working environment. You should be protected from any foreseeable accident by the employer. However, if an accident occurs, you should be compensated for the loss or injury. And if the employer denies you the compensation, make sure to follow the steps in your appeal. Moreover, hire an experienced lawyer to help fight for your compensation.