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Top Adding - Debt Priority or Hierarchy of Debt
What do you do when all of a sudden the month is just beginning and the $$$$'s are gone? You put the emotion away and get crackin' with bill priorities and some cold hard facts about your bills... and maybe even the priorities in your life. Be
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
lieve it or not, some bills are definitely more important than others. Don't forget, this is an emergency!
Rent/mortgage - You aren't getting very far without a roof over your head. If you're looking at long term financial distress you may ha
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
e to consider selling or relocating, but clearly, housing is an essential.
Utilities - Housing also means utilities. Especially if there are youngsters, don't even think of eliminating gas or electric. Reduce usage as much as you can but insu
Utilities - Housing also means utilities. Especially if there are youngsters, don't even think of eliminating gas or electric. Reduce usage as much as you can but insu
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 you pay gas, electric, and water. The phone s a different story along with cable. The former is optional in moderation and the latter is "Get rid of it NOW!" until better times.
Child support - Unless jail is an option, child support is not
Child support - Unless jail is an option, child support is not
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
. Plan to pay it.
Car Payment - If you need the car for a job, it is an essential. If there is an alternate transportation, the car and insurance may have to be a non-survivor.
Secured Debts - Secured debts are those assigned to a collateral
Car Payment - If you need the car for a job, it is an essential. If there is an alternate transportation, the car and insurance may have to be a non-survivor.
Secured Debts - Secured debts are those assigned to a collateral
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
(house, car, furniture, etc.). Creditors can often live with a late or missing payment or even two. Contact the creditor and explain the circumstance, but definitely do not just ignore your creditor. Yes, your credit may be hurt, but we are de
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
ling with an emergency and wounds will occur. If the disaster is long term you may have to consider surrendering the property.
Unpaid Taxes - Negotiate payments but don't ignore this one. Consider it child support to your government.
Food -
Unpaid Taxes - Negotiate payments but don't ignore this one. Consider it child support to your government.
Food -
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
Just because food is a priority, it doesn't mean filet mignon. Common sense rules in this area.
Unsecured Debt - Unsecured debt are those loans without property attached: credit cards, department store loans, gas cards, medical bills, loans f
Unsecured Debt - Unsecured debt are those loans without property attached: credit cards, department store loans, gas cards, medical bills, loans f
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
om friends. (Note: Student loans should be considered as a required debt.) Failing to pay these will eventually be very painful with your credit and good name but are probably the least devastating for the short term.
In Between Items - Medic
In Between Items - Medic
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
l insurance, children's "needs", and other debts unique to your circumstance will require a value judgment. How long is the emergency.. what can you live without... how bad is the situation... can the debts be delayed?
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ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
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The Process
List all your bills and their expected amounts. Sequence them according to their priority to be paid 1, 2, 3, etc. beginning with your mortgage as #1. At one of the priority
The Process
List all your bills and their expected amounts. Sequence them according to their priority to be paid 1, 2, 3, etc. beginning with your mortgage as #1. At one of the priority
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
numbers you will determine where "Must Pay" ends and "Should Pay" probably starts. Draw a horizontal line here and continue down the list. You might now reach a point of ending "Should Pay" items and find you are in an area of "Would Like To
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ay". Draw another horizontal line.
Start paying priorities 1, 2, 3, ... until you're out of money or finished with "Must Pay". Determine your deficit to "Must pay" items. If you still have money, continue with "Should Pay". If you run out of
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
money, place their amounts on your deficit list. If there is still money left, go onto "Would Like To Pay" until you run out. If there is no money or you run out, ignore the remaining list since they can be taken care of in better times.
Usi
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ng your deficit list, contact your creditors. Many will be willing to work with you to skip a payment, lower interest, pay interest only for a month or two, or offer a number of other options. Maybe they won't, but it won't hurt to ask. (Used
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
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
udiciously, "accidentally" mentioning the possibility of bankruptcy, sometimes yields major power.) Adjust your deficit list accordingly.
Optionally talk to a debt counselor but not a debt consolidator. At the very least, try to share your l
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
st with someone you trust. Often times another set of eyes can see something more objectively or have ideas you never considered.
Determine how to make up the difference on your deficit list with some of the following ideas:
Reduce expenses
Reduce expenses
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
by applying many of the frugal concepts at this and other sites. Take on a second job for the short term.
Have a garage sale. Sell an asset. Rent something out.
Consider funds from savings, 401(k), insurance, and even friends. (Note: DO NOT
.
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
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
cash in a 401(k).)
If you rent, see if labor might substitute for part or all of the amount.
Consider a reverse mortgage, equity loan on your home or car, or signature loan from a credit union. Please do not consider this unless bankruptcy i
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
the only other option since in the long run an additional loan will just make matters worse.
As an absolutely final resort, consider bankruptcy but not before seeking formal financial counseling.
Research other means of reducing your budget
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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