Posts Tagged ‘Bankruptcy’

What is the Insurance Compensation Consortium?

Perhaps many of you have some reference, more or less distant, the Insurance Compensation Consortium. In short, it sounds go. However, very possibly this knowledge is quite partial, segmented. Given the economic importance of the insurance world have seen fit to spend our weekly post Economics Concepts: what is the Insurance Compensation Consortium?

The Consortium is a business entity of public nature, under the Ministry of Economy and Finance through the Directorate General of Insurance. Has assigned seven major types of functions:

Direct insurance: it is as direct insurer to cover a number of risks that the market does not. The best example is in the compulsory insurance of motor vehicles. The Consortium would be an insurer of last resort for those cases in which the market does not support a risk, a customer. The legislature understood that I could not travel without insurance, but also assumes that you can not force insurers to take risks identified. The same happens in Game Insurance or Mandatory Insurance Travelers.

Within the motor industry, and as a direct insurer may charge to cover himself from civil liability for official vehicles. Eye, you can do, what not to say that the authorities are obliged to contract with it. Read the rest of this entry »

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How to avoid bankruptcy and save your credit

avoid bankruptcy If you think bankruptcy will solve all your debt problems, which are being deceived. bankruptcy may come against you for years and that is why this decision should be made after careful analysis and deliberation. In addition, you should do your research to explore other bankruptcy alternatives, such as debt consolidation, loan deferment, grace periods, etc, as a way to avoid bankruptcy.

That means you can not apply for credit, apartments, employment insurance, orders, etc.

Bankruptcy does not mean that your debt will be eliminated and become debt free and start from scratch. Unfortunately that’s the impression most people and it is wrong. You may be able to reduce or even eliminate some bills, but has a high cost.

Another downside to bankruptcy is that banks and other financial institutions will exploit you by charging a higher interest rate. It will take years of sound financial management to become ‘clean’ again. Read the rest of this entry »

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Auction Process

Auction collateral / collateral in the form of certificates of land and buildings is usually carried out by the Bank if the debtor can not fulfill its obligations and otherwise bad / bankruptcy auction that meets the requirements specified. Furthermore, the collateral-collateral is then submitted to the auction house to be auctioned with the previously announced tender submitted by the Bank concerned.

Bankruptcy Foreclosure Auction

This is where you should be observant at the list of assets to be auctioned by the bank. Consider some options that you wish to purchase by visiting the location and ask about the environmental conditions through a citizen or shops / local shops. Once you are sure you want to buy certain assets only then do the registration and deposit guarantees in the asset you want to buy. On a schedule determined by the auction process begins . Some things to note here is that when you win the auction then you are required to deposit the auction price and the maximum three working days if this is not done then you pay a deposit previously considered invalid. Conversely, if you lose the auction then the deposit is returned. After payment of the purchase of the remaining appointments (plus 1% the cost of the buyer) the buyer will get paid receipt from but still not able treatise auction. further obligation to pay 5% to be able to take the minutes of the original auction.

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