Meet Rashad Blossom

Rashad Blossom is a dedicated and experienced bankruptcy and consumer protection attorney. He firmly adheres to values passed down from his hard-working parents. Rashad believes everyone deserves to be treated fairly and with compassion, regardless of income, particularly regarding legal representation. Rashad serves clients throughout North Carolina. He uses his personal and legal savvy to help level the playing field against large companies and bill collection agencies. Rashad takes pride in the openness of his fair debt collection litigation procedures.

Rashad’s determination to help individuals and companies in financial distress dates back to his childhood when he first recognized he had an entrepreneurial drive. Rashad created his own barbershop, Rychess Cut Barbershop, when he was 19. Rashad ran the firm for five years, relying on his hair-cutting skills, which he began at 14.

Rashad attended the University of Alabama in Tuscaloosa. He earned his bachelor’s degree in finance and graduated as a member of the Golden Key International Honor Society and the National Business Honor Society. Additionally, Rashad was given the Beta Gamma Sigma Outstanding Undergraduate in Finance Award. After graduation, he continued to earn his Juris Doctor at the University of Alabama School of Law. Rashad worked for Burr & Forman LLP for several years before joining Bradley Arant Boult Cummings LLP. After years of working at big-name firms, Rashad Blossom chose to open his own practice. 

Throughout his career, Rashad noted that wealthy individuals and organizations had no problem affording representation. Likewise, poor people qualified for legal aid. Rashad turned toward helping the ones in the middle – those who could not afford big law firm prices but still needed quality legal care. As a former small-business owner, Rashad understood the complexities of running a small business. He opened his practice to serve organizations as well as individuals. Rashad has helped his clients save hundreds of millions of dollars.

Rashad Blossom has years of experience offering legal advice to those in need and defending mortgages and mortgage service institutions. In one of his cases, Rashad represented a local bank with $20 million worth of claims against a Chapter 7 debtor and successfully negotiated the sale of the debtor’s assets. As we emerge slowly from the catastrophic effects of the pandemic, Rashad’s ultimate objective is to mentor prospective financial professionals and raise awareness in an effort to provide individuals with some relief from their financial worries.

Rashad is a member of the National Association of Consumer Advocates, the ABA Young Lawyers Bankruptcy Law Committee, and the National Association of Consumer Bankruptcy Attorneys. To learn more, visit Rashad’s finance blog.

This article was originally published at rashadblossom.co.

Guidelines for Giving Raises

The typical compensation increase is between 3% and 5%. Consider providing compensation increases to keep your best workers. Check to see whether your business is financially stable enough to provide raises prior to making decisions. Hold off on granting increases to staff if you need help covering your company expenditures. You can also modify how often you boost employee pay. 

Cost of Living

When prices for goods and services rise due to inflation, money loses value, and living expenses increase. Since living expenses are constantly changing, so should the salary you pay your staff. A higher cost of living will affect your workforce regardless of performance. 

Location

Depending on your company’s location, expenses might dictate a salary increase for your staff. When the epidemic struck, individuals began moving to more inexpensive places or with fewer COVID regulations, raising the cost of housing and rent. Additionally, more people meant a greater need for food and gasoline, increasing the price of both commodities. 

Merit

Use human capital measures to compare the amount of revenue an employee generates to the amount of money you spend on their remuneration. Calculate raises based on merit with care. Find out which workers contributed the most, went above and beyond, and accomplished your firm’s objectives best. Keep thorough records to support your choices. Encouragement of other workers to perform better is an advantage of merit-based increases. 

Employment Length

The duration of service for an employee may also affect raises. Employees who hit milestones, such as working for your business for five years, may get additional compensation. This demonstrates your appreciation for their work and your desire to retain them for a long time.

Retention

Raising salaries is another way to stop turnover, which can cost money and time. Additionally, it may result in a decline in staff morale. Although granting increases won’t always stop turnover, many employees quit their jobs for financial reasons. Conduct frequent employee performance evaluations and meetings in order to identify if economic issues are the cause of a disengaged employee or one who is seeking alternative employment. Analyze if giving raises makes the difference between keeping top talent and losing them.

Bonus

A bonus is one of the best ways to show workers they are appreciated. A lump sum of money received out of the blue might improve an employee’s spirits or make all the difference for someone undecided about their future with your company. Although it isn’t a pay raise, it can be exactly what your workers need to help them get by.

This article was originally published at rashadblossom.co.

Great Books to Help You Be a Better Entrepreneur in 2022

Being an entrepreneur means accepting that you’ll never stop learning new things. Even if you’ve been a successful entrepreneur for 20 or more years, it’s impossible to learn it all. You’ll face new challenges all of the time, and it’s important that you’re willing to accept that you won’t have all of the answers and to go seek knowledge and advice from new sources in order to better round out your skills. In this article, we’ll discuss a few great books that entrepreneurs can take advantage of in order to improve their entrepreneurship abilities.

Zero To One – Peter Thiel

In his book, Peter Thiel, a renowned investor, and entrepreneur explains why he believes that focusing on businesses that create new products is the best way to get the world moving. Peter says that many companies are focused on improving their existing products, and how that doesn’t always work out for them. According to him, entrepreneurs should seize the opportunity to find new solutions that can create value. Peter breaks down the various steps involved in creating a new product or solution, and he provides actionable advice on what you should do before you start working on it. This is a great read for entrepreneurs who are looking to improve their skills and knowledge.

The 4-Hour Workweek – Tim Ferriss

The goal of the 4-hour workweek is to free yourself from the constraints of your 9-to-5 schedule and create a business that can support you without having to be a millionaire. According to Ferriss, the key to being successful is to be effective, not inefficient. He uses the example of the Pareto principle to explain this. In his book, Ferriss argues that people don’t have to be rich to live a life of luxury. He says that instead, they should focus on being flexible and mobile. Tim discusses many tools that can help you better focus on these things, such as virtual assistants, outsourcing tasks, and creating a new approach to work. This is a great book for anyone who’s looking to transform their passion into a full-time job.

How To Win Friends & Influence People – Dale Carnegie

In his book, Dale Carnegie provides a variety of strategies that can help you win friends and influence people without offending them. One of the first ideas he talks about is the idea that arguments should be avoided, as they’re typically impossible to win. According to Carnegie, an argument ends with both sides believing that they are right. Even if you win, you still lose, usually due to hurting the other person’s pride by making them feel inferior. One of the next strategies that Carnegie recommends is to never tell someone that they’re wrong. Instead of trying to convince people to agree with you, Carnegie suggests that you should instead work together to find out what makes them think they’re right. According to Carnegie, this method can help you influence people in ways that are beneficial to you.

This article was originally published on RashadBlossom.co

Podcasts For Entrepreneurs To Listen To In 2022

Today’s entrepreneurs have access to a limitless amount of knowledge and education opportunities. With the Internet so ingrained in our lives, we have access to countless blogs, videos, and books that can help us become the best versions of ourselves. One extremely popular source of knowledge that entrepreneurs like to take advantage of is podcasts. There are dozens of great podcasts out there created by entrepreneurs, for entrepreneurs. Some focus on teaching us how we can be better business people, some talk about news in the business world, and others feature interviews with some of the most successful entrepreneurs out there. Regardless of what you’re looking for, you’re bound to find a podcast that suits your needs. Here are a few great podcasts that entrepreneurs can check out in 2022.

The GaryVee Audio Experience

Gary Vaynerchuk, the CEO of the media company, VaynerMedia, delivers entrepreneurship advice to listeners through his weekly podcast, The GaryVee Audio Experience. If you’re a fan of Gary, you should listen to this because he has built a media empire that’s worth over $60 million thanks to his hard work and the right branding choices. The show features a variety of interviews and Q&A episodes, as well as recordings of his business speeches and marketing appearances.

The Smart Passive Income Podcast

The Smart Passive Income Podcast is an extension of Pat Flynn’s blog, which is dedicated to helping online entrepreneurs succeed. It features a variety of blogging and business strategies that are designed to help entrepreneurs build an effective online presence. The goal of the Smart Passive Income Podcast is to help entrepreneurs implement effective passive income strategies. It’s designed to give them the tools they need to set up their businesses without affecting their quality or efficiency. In its simplest form, the podcast explains how to create a streamlined online presence so that they can spend more time doing what they love.

The School of Greatness

The School of Greatness was first launched in 2013 and has been one of the most successful podcasts out there. It follows Lewis Howes, who is known for interviewing some of the world’s most prominent individuals in various fields such as entrepreneurship, health, and mindset. Howe has been able to interview some of the most prominent individuals in the world such as Tony Robbins, Alanis Morissette, Jack Canfield, and more. Each of Howes’ interviews has been designed to expand his listeners’ horizons and bring them closer to some of the most important topics in their lives.

The James Altucher Show

The James Altucher Show was first launched in 2014 and has since gained a massive following. Over the years, Altucher has been able to interview some of the most prominent individuals in the business world, such as Mark Cuban, Sir Richard Branson, and countless others. Altucher’s guests range from artists, rappers, and authors to astronauts and drug dealers. All of them have incredible stories that show how they were able to achieve success through their own path. According to the Altucher Show’s website, each of these individuals has found their own way to fulfilling and meaningful lives. In order to create a more engaging and relatable experience for his listeners, Altucher tries to translate the success of his guests into something that they can easily digest. He also provides his listeners with unique tools that can help them build their own businesses.

This article was originally published on RashadBlossom.co

How To Budget After Filing For Bankruptcy

When you file for bankruptcy, you are in for a long journey to rebuild your finances and financial stability. But once you have survived your bankruptcy, it’s important to put specific measures in place to get your financial situation back on track. How do you rebuild your finances, and what steps can you take to ensure that you never have to file again? Here are some tips on how you can rebuild your finances by creating a budget. 

Avoid the Plastic Card if You Can 

A credit card can provide a lot of temptation as they are easy ways to spend, and even overspend, your cash flow. When you track your expenditures, it’s crucial to stay away from credit cards. While they may be convenient, they often don’t allow you to realize the damage done until you are staring at your credit card bill. Suppose you can try reverting to the old school method of the “envelope system” of budgeting. When you use the envelope system, you can lay out each of your bills by giving them specific envelopes; each month, you take out cash and put in the bill’s total amount. While it may be archaic, it’s a system that works since it allows you to see what you have to spend physically. 

Tracking Your Expenses 

Once your debt is forgiven, you must create a budget and stick to it permanently to resolve your financial problem. This budget can also help you shed light on areas where your spending needs to be improved. It’s essential to see where your money is going each month physically. 

Cutting Back

If it’s not deemed essential, cut it out. Once you have gone through creating a budget and tracking your expenses, you can easily cut out things that are no longer necessary. This could be things like unnecessary shopping, eating out, etc. Cut back on the luxuries, and once you start to find yourself becoming more stable, you can slowly start adding back in those small luxuries. 

Creating A Savings 

Saving is often thought of as the golden ticket when it comes to surviving your bankruptcy. It would be best if you started saving as much as you can. Your budget will help you with this feat. You should be able to save at least 10% of your take-home income while you are attempting to rebuild your finances. With that, you should only be spending around ⅔ of your salary on your fixed expenses, and others go to your recurring expenditures. 

Keep your mind on surviving the bankruptcy; that is your primary goal at the end of this. Don’t be tempted away from your budget, but right now, you need it more than ever. Once you get your budget set, it’s essential to stick with it, and it will help you get a firm grasp on recovering your finances. 

This article was originally published on RashadBlossom.org

Habits Found In Successful Entrepreneurs

Entrepreneurship has skyrocketed in popularity over the years, especially after the COVID-19 pandemic changed the way a lot of people think about their careers. In a way, entrepreneurship is more accessible than it’s ever been. The internet and social media have made the ability to start your own business easier than ever, whether you’re just looking for a side hustle or want to make running a business your new career. With that being said, not everyone is cut out to be an entrepreneur. Many of the most successful entrepreneurs have certain habits that are naturally useful in running a business. Not sure if you have any of those habits? Look no further. Here are a few habits that are commonly seen in successful entrepreneurs.

Good Money Management

One of the most important factors that entrepreneurs must consider when it comes to money management is being able to maintain a steady flow of cash. This is not just about being cheap, but it also means being able to avoid going broke when the business is starting to realize its full potential.

It’s also important to remember that every dollar that you spend is helping you reach your goals. Many of the most successful entrepreneurs have lived below their means because they’d rather invest their money in furthering their business goals as opposed to living the high life. 

They Have Routines

Having a consistent routine can help you be more productive during the day. It can help prepare your body and mind for the next step, and it can improve your health. Having a set of routines can also help keep you focused on your goals and prevents you from getting too tired. Many of the most successful entrepreneurs create and stick to routines that help keep their energy levels up and their brains ready to take on the next challenge.

They Stay Up To Date

One of the most important factors that you can control when it comes to running a successful business is making sure that you’re up to date on the latest industry news and trends. Having this information will allow you to make better decisions for your company. Today’s business world is constantly changing, regardless of what industry you’re in. It’s important that you stay up to date with these constant shifts if you want to keep your business afloat.

They Know When To Take A Break

According to studies, people spend around 3.5 hours a day on the internet. For entrepreneurs, this figure is higher. Unfortunately, studies also suggest that the more time that you spend on social media and online, the more likely that you will develop depression.

To avoid these things happening, it’s important that you take a break from your computer or phone for a few hours each day. This can help you recharge and connect with the world around you. It can also help you manage your stress levels. After taking a break, you can jump back into your work ready to take on the next challenge without burning yourself out.

This article was originally published on RashadBlossom.co

Red Flags That May Indicate An Upcoming Bankruptcy

To start, what is bankruptcy? Bankruptcy is a legal process that a debtor has entered into to solve their financial problems. In the United States, bankruptcy has become one of the most popular alternatives for resolving debt issues. Because of this, many consumers and businesses have begun to understand the different characteristics of bankruptcy and the signs associated with it. Still, it’s important to look and understand the signs closely.

Knowing these indicators and how they impact your decision to file for bankruptcy may prove to be very helpful in assisting you in making the best possible financial decision.

Indicators that Bankruptcy Might be Necessary

Inability to Pay Bills

The first and perhaps most obvious of the red flags that may indicate that an individual may be preparing to file for bankruptcy is the inability to pay their bills. Many individuals filing for bankruptcy are actually experiencing financial difficulties related to the credit cards and consumer loans they have made.

Typically, when a consumer’s account falls behind, they try to contact the credit card companies and other lenders to rectify the situation. Some companies will allow you to fix the credit situation, but not all will.

Diminishing Income 

Another indicator of potential bankruptcy in the process is diminishing income level. Whether you may be facing the possibility of a looming financial crisis may be indicated by funds in the household decreasing. Typically, this is due to job loss. 

Once a consumer’s income has dropped, they may begin to look at their various assets and begin to liquidate some of them to raise money to prevent a large-scale financial loss.

While this strategy may work in some cases, it is important to keep in mind that it will simply result in a loss of thousands of dollars worth of assets in the majority of cases. While the goal of any individual looking to prevent bankruptcy may be to have enough money to cover their debts, liquidating all of your assets will not help to accomplish this goal. It’s important to be honest with yourself in this situation to know if this applies to you.

Conclusion

There are a wide variety of causes that can lead to bankruptcy.  It’s important to talk to a financial expert or bankruptcy lawyer to see what options are available for you.

This article was originally published on RashadBlossom.org

The Process of Filing Bankruptcy

Bankruptcy involves more than paying a filing fee and listing creditors. It’s paperwork-intensive, quite complicated and should involve you consulting with a bankruptcy attorney.

The Process of Filing Bankruptcy

Before beginning the bankruptcy process, here is what to do:

1. Gather Necessary Documentation and Information

One needs to gather information on their income and debts from the following documents:

  • Past six months of paychecks
  • Past two years of income tax filed returns
  • Copies of all current due bills
  • Copies of documents that creditors sent
  • Credit reports

2. Estimating the Value of Assets

One must provide a list of their possessions and estimates of value, no matter their worth. For automobiles and real estate, online valuation estimates may be enough. But for household items and personal items like valuable art, clothing, jewelry, you may need an appraisal.

3. Calculating Expenses

You’re required to provide your monthly expenses for things such as:

  • Insurance
  • Lease or car loan payment
  • Mortgage or Rent
  • Food
  • Clothing
  • Gas and maintenance
  • Medical expenses

4. Completing the Bankruptcy Petition, Schedules and Statements

This is the more difficult part.  And I reiterate – though you’re not required to – you should probably hire an attorney to handle the entire filing process for you.  You can lose assets if the papers are not completed correctly, or if you complete papers for the wrong chapter of bankruptcy.

5. Take the Pre-Bankruptcy Credit Counseling Course

Every individual who files for bankruptcy, must complete a credit counseling course before filing.  The course can be completed via telephone or online and usually can be done in 90 minutes or less.

What to Expect After Filing for Bankruptcy

Once you file for bankruptcy, you receive a number for your case. Creditors will also get a notice of the filing. A few days after filing for bankruptcy, a meeting will be set for you to meet with the bankruptcy trustee and your creditors, if any of them decide to appear. 

The final step is receiving a discharge order, which frees you of all dischargeable debt.  You will receive the discharge order about 3 – 4 months after filing a chapter 7 bankruptcy.  You will receive a discharge order in a chapter 13 case after you’ve made all your plan payments, which typically takes 3 – 5 years.

This article was originally published on RashadBlossom.org

The 8 Things Every Successful Entrepreneur Knows

Successful entrepreneurs all have a few qualities in common. What is it that sets successful ones apart from the unsuccessful ones? You might be wondering if you have what it takes to make it as an entrepreneur in today’s world. If so, here is what you need to know about the qualities of successful entrepreneurs

  • Discipline

Regardless of the product, they create or the business they are in, all successful entrepreneurs are disciplined. They stay focused on their goals and work hard, even when it would be easier to quit. They do not allow excuses or fear of failure get in the way of their achievements, but instead, work through every hardship.

  • Internally Motivated

Successful entrepreneurs are also internally motivated. They do not have bosses to answer to or a certain number of hours to clock in every week. They rely solely on their internal drive to push them every day. 

  • Passionate

Another quality that all successful entrepreneurs share is passion. They love their work and are willing to put in the effort it takes to see their dreams become a reality. They will often work around the clock because they genuinely want to spend their time pouring into their businesses. 

  • Relational

Most successful entrepreneurs also put a strong emphasis on relationships. They generally recognize that they cannot be successful on their own. They need to build teams of people around them, as well as networks of other business owners.

  • Risk-taking

To succeed as an entrepreneur, you must be willing to take risks. It’s also essential to have good instincts regarding which risks to take and which risks should be avoided. Successful entrepreneurs have all taken significant risks, and they haven’t allowed themselves to be deterred, even if those risks didn’t pay off.

  • Innovative

Successful entrepreneurs are also innovative. When something doesn’t work out as they planned, they find a new way to do it. Even when they have a good product, they are continually looking for ways to make it better. They strive for continuous improvement in all aspects of their business. 

  • Competitive

Successful entrepreneurs all have a competitive spirit. They thrive on challenges and enjoy winning. They aren’t afraid of other businesses in the same market because they believe they can beat them through hard work and innovation. 

  • Willingness to Fail

Lastly, successful entrepreneurs are willing to fail because they recognize that failure is an essential part of success. If a person is paralyzed by the idea of failure, they will almost certainly fail as an entrepreneur. You must shift your perspective and begin to see failure as a stepping stone on the path to success, rather than a roadblock.

This article was originally published on RashadBlossom.co

Bankruptcy Alternatives Amidst The Pandemic

The pandemic has affected almost everyone financially in some way. Many people do not have friends they can borrow money from seeing as most of the people they know are also experiencing financial turmoil. The government has tried to alleviate the problem by offering unemployment reliefs and payrolls for small businesses, but it is not enough. Here are some ways people can avoid or delay bankruptcy during these times.

Inform the Mortgage Lender in Due Time

Someone who has been laid off and cannot pay their monthly rent or mortgage should quickly inform their mortgage lender. The lender may agree to give you a forbearance – a temporary period during which no mortgage payments are due.

Pay the Credit Card Minimum

You should put some amount away to pay your credit card minimum any time you receive a government relief. During the crisis, it is advised that unemployed people should not pay more than required toward their credit cards. And, if at all possible, stop using credit cards.  The interests charged on the credit card can hurt an individual’s financial stability

Consider an Inexpensive Car

If someone is unemployed, they are probably not using their car as often. However, many people still have to run errands with their vehicle even when they are not going to work. Therefore, car expenses may be drastically reduced. Yet with little to no source of income, the individual may want to trade in the car and get a cheaper one. The economy will eventually recover, and one can always get another car. The most important thing for now, however, is surviving.

Look for an Alternative Job

The lockdown has driven many companies to develop new opportunities that all employees can explore. It can be easy to sit back and wait for the economy to improve before finding another job. However, this should not be the case. An individual should identify their skills and find out what they can do right now. For example, there are many work-from-home jobs that now exist, such as web design, proofreading, content writing, and much more.

This article was originally published on RashadBlossom.org