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On October 17, 2005 President Bush’s sweeping bankruptcy reform law goes into effect forever changing the rules of debt collection in this natiion. Consumer advocates and the publ

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ic appear to be completely unaware of the total and complete victory of the creditors under the new legislation. This article opens the door to the Trogan Horse so that consumers

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

can prepare themselves for the worse.

The most important aspect of the bankruptcy code was the “automatic stay” provision. This allowed consumers to file for bankruptcy at anytim

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

e during the creditor’s collection process putting an immediate stop to all contact and collection activities from the creditor. The new law requires that a debtor receive credit

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

counseling from an approved non-profit credit counseling agency for 180 days prior to filing Chapter 7 or Chapter 13 bankruptcy.

While this may sound benevolent, a much closer loo

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

k at the practical effect of this provision reveals the crafty peeling of the debtor’s rights. The 180 day requirement is to provide the credit counseling agency the opportunity t

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

o work out payment plans with creditors. However, during this same period of time the creditor is not restrained from collection efforts. For example, Margaret is a homeowner in

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

Jacksonville, Florida and is six months behind on her mortgage. As a rule, credit counseling agencies only work with credit card companies and have little or no training with deal

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ing with mortgage companies.

After receiving foreclosure papers, Margaret goes to see her attorney to file for bankruptcy and is told that she must first seek credit counseling be

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

fore filing for bankruptcy protection. Meanwhile, the foreclosure proceeds on schedule and a sale date is set 120 days later. However, Margaret still has not completed her 180 da

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

y requirement. What will happen to Margaret’s home? That’s right! The home will be sold and she cannot stop the sale by filing bankruptcy.

This is the most sweeping shift in de

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

bt collection in the past 50 years. Margaret’s only hope will be to work out a repayment plan or a loan restructure with her mortgage company. This is a process called loss mitig

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ation and is explained in great detail to consumers in our new book, How to Save Your Home, ISBN#09753754-0-7, $19.95, SYH University, LLC, 2005 which is sold at Amazon.com.

Loss

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

Mitigation works because lenders lose an average of $28,000 to $50,000 per foreclosure nationwide. It is a myth that the lender wants your home and makes a profit off of foreclosu

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

re. A lender has to pay attorney fees, court and collection costs, maintain fire insurance, hire a real estate professional, repair structural and other damage to the home, and pa

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

y property taxes. The homeowner can work out an agreement with the lender in over 90% of cases. Our company has provided housing counseling service to thousands of homeowners and

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

loss mitigation absolutely works.

In conclusion, it is up to the consumer to educate and prepare themselves for worse case scenarios. How to Save Your Home is an excellent traini

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ng tool and will teach homeowners how to protect themselves under the new bankruptcy law. Most Americans do not have health or disability insurance and are vulnerable to job layof

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

fs because of a stagnant economy. Who amongst us is immune to heart attacks, business failure, strokes, law suits, tax liens or other challenges that life sometimes presents. One

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

pay check is literally what separates many families from home security and despair and the new bankruptcy law will severly punish those who slip behind on their mortgage payments.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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In the 1960’s, when the fast food industry was brand new, most restaurants had a wall between the order counter and the kitchen. Customers didn’t know how their food was being prepared or how long it would take (or if it had been pre-prepared and resting under heat lamps awaiting an order). In the seventies, some restaurants took down the wall so that customers could see who was preparing their food, how it was being prepared and about how long it would take. This gave customers psychological control of the “order-to-delivery” process by making it visible: if customers wished, they could see the process and thereby be mentally involved in it every step of the way. This gave them the feeling of control without actually being in control of the process.

One of the fundamental premises I teach in my two-day sales boot camp is that, “If two people want to do business together, they won’t let the details get in the way. If two people don’t want to do business together they will let any detail get in the way.”

Most people do not realize that police agencies, including local police departments, county sheriff departments, as well as state and federal law enforcement agencies end up with a lot of confiscated, lost, or abandoned property.

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