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Industrial VS Consumer Goods: What’s the Difference?

Industrial goods are for industrial and business use, while commercial goods are for consumables like food or clothing. Both of these are essential when trying to keep an economy going and functioning properly. In this article, we will go over the many uses of industrial goods and commercial goods.

Industrial Goods

Industrial goods are supporting goods for consumer products. They usually involve machinery or heavy equipment. These goods are usually bought by manufacturers or people that buy and install machinery. The companies that buy these goods are either in the construction, defense, aerospace, or housing businesses.

Quality Of Industrial Goods

Industrial goods are usually high-quality because they are made from people who are trained for their position. People that usually have these jobs have been working with them for over 10-15 years, so there isn’t much that is new under the sun. If you ever have the chance you might want to go visit a manufacturer’s factory to see how it operates. Everything is a system in the industrial world, so consistency is always of utmost importance.

Avk Industrial Products

Avk industrial products are the premier manufacturer of inserts and studs. Avk products are known for their superior quality and meet superior military standards. The company is renowned around the world for its industrial products. It continues this legacy of producing high-quality products year in and year out.

Consumer Goods

Consumer goods are goods purchased by the average consumer — for example, food and clothing These products are usually stocked on the shelves of your local Whole Foods, Walmart, or even Sam’s Club.

More Facts About Consumer Goods

Consumer goods are the bulk of what the economy puts there money into on a daily basis. Without consumer goods, most people would not know where to turn. This would lead to many people turning to their government for answers. This is why consumer goods are mass-produced on a daily basis. These consumer goods come in a few different forms depending on the situation. You might be one of those people that participates in each of these on a daily basis. The three main types of consumer goods are durable goods, nondurable goods, and services. Here are a few examples:

– Durable Goods: Bikes, Refrigerators, or Washer Machines

– Non-Durable Goods: Food, Juice, Dessert

– Services: Auto Repairs, Haircuts, Massages

Marketing With Consumer Goods

The marketing of consumer goods is one way the economy stays healthy and productive. A business markets a clothing line, food, or buying a business. As your business continues to grow, you will continue to buy more to sell more to your customers. Spending drives the economy.

Industrial and Consumer Goods Are Both Necessary

Without consumer goods, industrial goods kind of lose their importance. Industrial goods are there to support consumer goods so it’s a cumulative relationship. Both of these are the key to keeping an economy efficient, strong, and competitive.

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Reaffirmation Agreement in Bankruptcy. What Is It?

A reaffirmation agreement in bankruptcy is a new contract signed between you and a lender that reaffirms your debt and personal liability for the obligation. Such an agreement is usually executed for secure property such as an automobile, a boat, a recreational vehicle (such as a motor home) or an airplane. Before signing an agreement of this type, it is a good idea to have it checked over by your attorney as it is a binding legal document. The reaffirmation agreement must also be approved by the court. You can revoke it within 60 days after signing.

When must a reaffirmation agreement be signed?

The Bankruptcy Reform Act of 2005 states that any reaffirmation agreement(s) must be entered into prior to the filing of a discharge in bankruptcy and before the debtor actually receives the many disclosures required from his creditor. The document must also be approved by the court and not rescinded by the debtor prior to the discharge being filed. The court can also refuse to sign the reaffirmation agreement if it is of the opinion that the debtor cannot afford the payments called for under its terms.

Some creditors believe that the new 2005 bankruptcy law requires that a debtor sign a reaffirmation agreement if they want to retain the vehicle. However § 524(c) states that any obligation must be ‘enforceable under applicable non-bankruptcy laws, whether or not such a debt is waived.” As a result, if the debtor is current on his payments, keeps his vehicle insured and still refuses to sign a reaffirmation agreement, there appears no default that is enforceable under non-bankruptcy laws. Moreover, most bankruptcy judges are anything but eager to sign such an agreement if the debtor can’t or doesn’t want to afford the extra payment. Neither would most attorneys. Thus, the smart debtor doesn’t sign a reaffirmation agreement unless it includes better terms on a new contract and he is certainly permitted to do so.

The best advice

As a debtor, there seems little risk in signing a reaffirmation agreement provided that you feel you really need the property (such as a car to get you to and from a job) and unless you know you can’t afford the payment. Nevertheless, you have nothing to lose if you try to renegotiate your contract before you sign and don’t forget that if you’ve had the property for some time, its current value is less. The lender will very likely go along with your suggestions because it is to his advantage financially.

In the end, whether or not you sign a reaffirmation agreement comes down to how badly you want the property and whether or not you can afford to continue the monthly payments. If you need the property and the money is there, go ahead and sign. If not, let the property go and start over to rebuild your financial status with a really clean slate. Only you can make an informed decision.

You should try to avoid Bankruptcy at all costs!