Los Angeles Bankruptcy Attorney – (Bankruptcy) Alternatives to Bankruptcy When one is facing vast amounts of debt that they do not know how to pay, it can be stressful. Being harassed by creditors because of unpaid debt can be embarrassing, especially if you previously were in a position to pay them. When facing all these financial challenges, filing for bankruptcy may be an obvious choice, given the circumstances. However, there are other better alternatives that you can explore before deciding on bankruptcy. With an experienced bankruptcy attorney, you will be able to understand the various options available and explore the best one for you. Los Angeles Bankruptcy Attorney can help in resolving your financial challenges and decide on the best choice possible. Various Options to Filing Bankruptcy The reason one would wish to file for bankruptcy is when they are faced with overwhelming debt, and they feel it is impossible to repay it. Financial challenges happen to the best among us, and your creditors understand that. Most creditors are always willing to discuss various options of getting their debt paid…

Reputation risk management in the banking industry Introduction Reputation risk is often known as the reputation risk because, in most instances contains the loss of company financial capital, social capital as well as market share that results in the damage of the company’s reputation. Risk reputation events are known as risk violations,risk issues, safety issues, lack of sustainability. It could potentially cost the company corporate relation that can cost the company shareholders as well as business, as well as a result of the closure. We analyze reputation risk management is banking sectors and ways that one could potentially manage the risk successfully, we analyze the potential effect of reputation risk in the banking sector   Reputation risk The banking sector are more often than not subjected to the reputation risk; this could take place due to lack of bank stability, theft, employee fraud. It has seen most banks loose corporate relations that, in most cases, shareholders pulling out their shares from the banks, and this has subjected banks to temporal and sometimes permanent closure (Britchenko.et.al,2018). Reputation risk management in banking…

What are the top benefits of Chapter 13 bankruptcy? Chapter 13 bankruptcy is the legal procedure that lets people repay their debts over the course of time while giving them the opportunity of keeping valuable assets, such as a home. One can only apply for this process if he has regular income. It is not like the debt will get forgiven, but rather it will get restructured with a repayment plan of three to five years. There is the flexibility of repayment, which makes Chapter 13 a viable option for the ones who have jobs and steady incomes. Some people consider it a better option than Chapter 7. Here are the top benefits of Chapter 13 bankruptcy. You get to keep the house If you are a homeowner who is behind in the mortgage payments, then you finally get the chance to catch up on those debts. According to the dove law firm, it will save your home from being foreclosed. Many applicants go for Chapter 13 because it allows them to save their precious homes. You get to consolidate…

Banks  Develop technology to stay relevant   Banks are trying to catch up with the digitization wave by becoming more innovative and up-to-date in their customers’ lives amid competition with financial technology { fintech } player which offer easy payment features with less bureaucracy. Big banks do not hesitate to spend lavishly to develop digital platforms, which are expected  to help customers manage their finances. Some examples of this are private lenders Bank Tabungan Pensiunan Nasional (BTPN) and Bank Central Asia ( BCA) , both of which launched  new “keyboard” features in their mobile phone apps. Customers of BTPN and BCA do not need to operate Jenius or BCA mobile apps on their phones during banking transactions, meaning actions while chatting without the need to operate the BCA mobile app on their phones. BCA guaranteed the safety of its keyboard features as did not have a memory system that can record anything the customer types into their phones, said BCA vice president director Armand Hartono during a recent event in Tangerang, Banten. However, BCA keyboard is only available on Android…

The bankruptcy-prediction problem can be viewed as a problem of classification The decision tree is essential in an organization to specific departments; a marketing manager may wish to have a set of consumers who are likely to purchase his/her product. He/she can use the decision tree to acquire enough and large numbers of an audience while saving the marketing budget. Lenders’ managers are another department in an institution that can use the decision tree to categorize consumers into groups of non-potential and potential or risky or safe loan applications as a problem classification. The process of classification is a two-step, prediction, and learning step. In the learning stage, the model is created, relying on given training information. In the prediction stage, the model is used to forecast the reply of the provided information. Therefore, decision tree algorithms are one of the famous and most accessible classifications to interpret and understand. It can be employed for both regression and classification kind of difficulties. Decision Tree Algorithm A decision tree can be described as a flowchart like configuration where the most internal…

Management: Barring Bank Introduction and Case Highlights The collapse of Barring bank of London is a case revolving around poor operations risks controls that offered a platform for fraud by one of its employees. Leeson took advantage of deficient internal controls and risk management practices to execute his plan. Nick Leeson falsified the banks trading records and managed to use money meant for margin payments on another trading through the bank’s computer systems. The approach left the bank with massive losses to deal with owing to Leeson’s decision to misuse its derivatives trading operations. Leeson managed to hide his losses for sometimes in the eyes of other top managers through a fictitious account he labeled “88888” while posting profits on different trading accounts (Bair, 2015).  In any case, the Barring bank failure is a case in point that highlights the need to strengthen internal control systems in any institution. The case is worth studying since it offers vital insights on how lack of sound technological base can land an organization into serious problems. Technology plays a critical role in the…

The values of Lebanese Canadian Bank (LCB) for successful organizations Lebanese Canadian Bank (LCB) is performing exceptionally well for the last few years and setting the trend for the banking industry of Canada. The organization is considered as one of the most successful banking organizations of the twenty-first century. The values it has added to embrace that might be important for successful organizations in the twenty-first century are as follows: Networking: The bank has expanded its branches all over Canada with a strong network capability. It interconnects all the offices of the bank. It has helped the bank to serve the maximum number of customers. Top-quality banking facility has been expanded all around for more integrated customer services. Teamwork: LCB has implemented teamwork facility in the organization has maintained both the organizational culture and organizational behaviour. Consumers are getting more trendy and well-coordinated facility than previous. Enhancement in the equity share: The bank has increased its equity. Currently, it is offering more consumer-friendly services to the target consumers, along with various loan and investment facilities. Investment strategy: The company has…

E-Business Strategy and Models in Banks: Case of Citibank Case Study Questions: Analyze the Citibank value Chain. (3 Marks) Value chain analysis for Citibank Citibank, just like any other organization values chain analysis, is based on the element of the e-banking strategy for an organization. The bank does create value via the support and other aspects of its operations. In this case, the chain value analysis will majorly be based on the various elements of the bank operation, such as the use of technology, marketing and sales, general maintenance, and the features of the other infrastructure used by the organization. The application of the new method of technology in its operational procedures, primarily through E-business, has been the core tool by Citibank in the development of the relationship with the various shareholders.  There has seen the general productivity of the bank improves as most customers tend to associate with the latest or modern technology, which reduces the amount of tike that they spend in the banking activities (Abdullah et al., 2016). The different innovative e-banking solutions that the ban has…

Financial Markets and the European Central Bank Introduction The paper aims at analyzing the financial markets and the European Central Bank due to the recent credit crunch and recession in many economies that lead to the global financial crisis in both developed and developing countries. During a meeting with the council in 2006, most financial participants were not expecting any change in the European Central Bank rate. The announcement that came later suggested that there was to be no change in interest rates, thus making no change in the money interest rate in the market. The financial crises led accusations to the Central Bank and financial markets regulators, indicating that they were failing in their duty of protecting the depositors. The depositor’s made a comparison of the bank operation in the 1930s and recently, which shows that there was interest rates declination in a more significant margin never witnessed historically. The crisis also led to a decline in employment, economic growth while financial institutions run bankrupt, and others get nationalized as a means of rescue. The crisis acts as an…

The impact f forensic account on the financial performance of listed banks in Kenya- Case Study: Kenya Commercial Bank (KCB) Background information Forensic and investigative accounting can be defined as the application of financial skills and investigative mentality to unsolved issues, conducted within the context of the rule of evidence. According to Ng’ang’a (2015), it involves financial expertise and fraud knowledge and understanding of business realty and working of a legal framework. Generally, forensic audit is seen as a branch of accounting that is appropriate for legal review and pestering the top most level of assurance. A recent research by Onyango (2018) has proven that fraudulent activity among the commercial banks in Kenya have had a negative impact on the sustainability, viability and performance of such banks. As a result, the need for forensic accounting and audit has significantly own up to mitigate financial casualties among the listen banks in Kenya. Akelola (2015), asserts that most organizations’ audit system fail to detect certain errors in the managerial system. Additionally, more and more forensic accountants are being called up to thoroughly…