http://www.centralrichmondsf.com/bill-less/
Bill Less
What happens if you have a signed lien, and the case settles for less than the amount of the total bill?
An attorney signed a lien with our office, and the case settled for say $14,000 but medical bills exceed $18,000. The total amount for services rendered from our office is near $7,000. I offered a 30% discount. Their final offer was $2500. Do we have to accept that amount? If we do not accept that amount, what happens next?
OK, I’m confused with what YOUR relationship is to this case. If the bills are over $18,000, the case settled for $14,000, and the attorney fees are $7,000, then the $7,000 comes out of the settlement, leaving $7,000 to go to the medical bills, and the rest – $11,000 in medical bills – are still owed by whoever received the medical services.
I don’t know who’s offer was $2500, or what they were offering. Do you have to accept it? No. But are you the attorney? The Plaintiff? The defendent? The medical provider? The DEAL that everyone agreed to is above – the defendent pays $14K. The medical provider gets $18K. The attorney gets $7k.
That’s what was agreed upon. Whatever the $2500 relates to, it doesn’t matter too much – the plaintiff is clearly going to be out of pocket thousands of dollars on this. What happens? It goes to collections, their wages get attached, etc.
Bill Less
Bill Bartmann Discusses Buying A Franchise: Is Franchising Right For You?
Advantages of Buying a Franchise
• The business is already formed – the planning is done
• Reduced risk – the concept has been tested and proven
• Turn-Key Operation – the franchisor helps you find and choose a location, hire employees, market yourself, etc…
• Standardized Operating Procedures – Training programs in place for all employees from entry level to upper management
• Collective Buying Power – 90% of your supplies, inventory, uniforms, etc…are purchased through your franchisor who is buying in bulk and passing savings on to you
• Research and Development – the franchisor decides when to introduce new product lines or offer promotional discounts while you focus on operating the business
• Supervision and Consulting – The franchisor provides training and supervision while you’re getting established.
The franchisor wants you to succeed; he gets paid royalties based on your success. A good franchisee will provide the training and support you need to ensure you will show succeed and generate a good profit.
Disadvantages of Franchising
Loss of Control – You must do everything exactly as you’re told to do it. You are not authorized to change policies and procedures; you cannot decide when to introduce new products or offer promotional discounts. The franchisor makes all the rules and you must follow them; the franchisor is to you as a boss is to an employee.
Binding Contract – You’re all-in! Franchisees do not operate independently; they all do the same thing, the same way. This consistency is most beneficial to the customers as they know what to expect no matter what location of the franchise they visit, no matter what state, county or city. They know that whatever they order will be the same size, prepared the same way, and packaged the same way.
Franchise Problems become Your Problems: If one franchisee in your particular franchise has a problem, for instance, a lawsuit that becomes nationally known. For example, ABC Chicken, in one location, is sued when a lot of people are sick with food poisoning. The news quickly travels across the US and you find your revenues slipping. No one wants to risk going to ABC Chicken; they don’t even consider that this is likely an isolated occurrence.
Cost Associated – The initial franchise fee, which is the cost of your rights to sell their product, can be anywhere from a few thousand to over $1 Million, depending on the franchise. This fee may not cover other start-up costs, operating capital, the upcoming payroll, beginning inventory and more. You also might be required to purchase or lease a certain location; one that is a prime location in your area; therefore, being sold at a high cost. You may be independently responsible to buy signs, fixtures, etc… as well.
When franchises are operating well, everyone does well. When there are problems, all the franchisees can suffer. Though a lot of the risk potential is reduced, there are still possible risks to consider when deciding to buy a franchise.
Bill Bartmann covers the paths to business ownership and the advantages and disadvantages to each. His online course, Billionaire Business Systems, has guided many entrepreneurs to great success in their business ventures. Go to http://www.billionaireu.com to learn more about Bill Bartmann’s courses and products.
About the Author
Bill Bartmann is a self-made billionaire who went from homeless at the age of 14 to becoming a billionaire, going bankrupt, then bouncing back to
do it again! Bill has had his self-doubts and even bouts of depression; he wouldn’t be human
otherwise. However, when self-esteem is strong and you’re clear about your values, then you can
bounce back from the lows; each time, you bounce back just a little bit higher.
Bob and Tims bill who paid 3 dollars less?
Bob paid $3 less than Tim at a local pizza parlor. Together they spent $7.80. How much did Bob spend at the local pizza parlor
can you show me how to work this out i got 4.80 but i dont think this is right.
Bob payed: x-3
Tim payed: x
x+(x-3) =7.80
first add the opposite: x+(x+-3)=7.80
xtimesx=x2
xtimes-3=-3x
so now you have:
x2 + -3x = 7.80
try to work it out from there
What is this ‘Iraq war’ charge on my bill?
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