While there are concerns about hotel room oversupply, Simmons is pragmatic. With the ramping up of tourism and more leisure activities opening, supply and demand will level out, he says. Dubai is building for the long term, not just the short term. Marriott is adding a mix of business and leisure properties for the different needs. Of greater concern to Simmons is the all-important industry metric of revenue per available room revpar , which Simmons fully expects to fall across the MEA region as more rooms come on stream.
The result will be, he says, an industry that is competitive in terms of both cost and quality. For Simmons, addressing these issues comes down to proper process structure. As the business climate changes in the region, Simmons has noted a shift in the qualifications of local accounting professionals. This is changing, however, particularly as we encourage our joiners to complete an ACCA or another professional accountancy qualification. To attract local talent to the hospitality sector, Marriott International has been offering career opportunities for young Arabs and Africans, enrolling them in all disciplines.
Another programme, Tahseen developed in conjunction with Saudi hotel partner Dur Hospitality, Cornell University in the US, and youth education non-profit organisations Injaz Al-Arab and Education for Employment , aims to attract Saudi nationals to train in hospitality management. In sub-Saharan Africa, partnering with the Akilah Institute, a non-profit college for women in the Rwandan capital Kigali, Marriott engaged Rwandan women in a two-year placement programme in hotels across the MEA region.
If you are unable to make satisfactory arrangements with your creditors, there are organizations to help you accomplish this. For consumers who want individual help, counselors with professional backgrounds in money management and counseling are available to provide support.
A counselor will work with you to develop a budget to maintain your basic living expenses and outline options for addressing your total financial situation. If creditors are pressing you, a CCCS counselor can also negotiate with these creditors to repay your debts through a financial management plan. Under this plan, creditors often agree to reduce payments or drop interest and finance charges and waive late fees and over-the-limit fees. After starting the plan, you will deposit money with CCCS each month to cover these newly negotiated payment amounts.
Then CCCS will distribute this money to your creditors to repay your debts. With more than 1, locations nationwide, CCCS agencies are available to nearly all consumers. Supported mainly by contributions from community organizations, financial institutions, and merchants, CCCS provides services free or at a low cost to individuals seeking help. Bankruptcy is a legal proceeding that is intended to give people who cannot pay their bills a fresh start.
Tip: A decision to file for bankruptcy is a serious step, which should be taken only if it is the best way to deal with financial problems. Chapter 13 bankruptcy allows debtors to keep property which they might otherwise lose, such as a mortgaged house or car. Reorganizations may allow debtors to pay off or cure a default over a period of three to five years, rather than surrender property. Chapter 7 or "straight bankruptcy" involves liquidation of all assets that are not exempt in your state.
The exempt property may include items such as work-related tools and basic household furnishings, among others. Some of your property may be sold by a court-appointed official or turned over to your creditors. You can file for Chapter 7 only once every eight years. Both types of bankruptcy may get rid of unsecured debts those where creditors have no rights to specific property , and stop foreclosures, repossessions, garnishments, utility shut-offs and debt collection activities. Both types also provide exemptions that permit most individual debtors to keep most of their assets, though these "exemption" amounts vary greatly from state to state.
Bankruptcy cannot clean up a bad credit record and will be part of this record for up to ten years.
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Thus, filing bankruptcy will make it more difficult to get a mortgage to buy a house. It usually does not wipe out child support, alimony, fines, taxes, and some student loan obligations. Also, under Chapter 13, unless you have an acceptable plan to catch up on your debt, bankruptcy usually does not permit you to keep property when the creditor has an unpaid mortgage or lien on it. Bankruptcy cases must be filed in federal court. Tip: Be cautious when choosing a bankruptcy lawyer.
Some of the less reputable lawyers make easy money by handling hundreds of bankruptcy cases without adequately considering individual needs and alternative solutions. Get recommendations from people you know and trust, and from employee assistance programs.
Some public-funded legal services programs handle bankruptcy cases without charging attorney fees. Or these programs may provide referrals to private bankruptcy lawyers. Keep in mind that the fees of these attorneys may vary widely. Consumers with credit problems have paid millions of dollars to firms that claim they can remove negative information, clean up credit reports, and allow consumers to get credit no matter how bad the credit history.
Most clinics make misleading promises to consumers, and charge high fees for doing what you could do yourself--or simply take your money and do nothing at all. Here are some common promises made by credit clinics and the reasons consumers should beware of such claims:. These "loopholes" are merely the provisions of the Fair Credit Reporting Act FCRA , under which you have the right to challenge information in your credit report you believe incorrect.
Credit clinics hope creditors will not be able to verify the information in a reasonable time period, causing the negative information to have to be dropped under the FCRA.
Some credit clinics even tell consumers to challenge neutral information e. Creditors and credit bureaus have become familiar with such tactics, and they have sought to use the provision of the FCRA that allows them to dismiss "frivolous" disputes of file information and to refuse to respond to repeated disputes of the same data. Some clinics tell consumers to pay off any bills outstanding with the creditor in exchange for the removal of negative information.
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