Archive for June, 2012

Originally posted 2010-03-19 02:59:51. Republished by Blog Post Promoter

Those in a single parent household often find having one income makes it difficult to make ends meet. In cases of divorce or abandonment, the one left behind may also have been left with a lot of the debt accumulated before the departure. There are some alternatives for debt relief for single mom families that can help them get back on their feet and stay there, especially if they can find a grant that does not have to be repaid.

There are many internet sites that offer promises of help in find debt relief for single mom households through state and federal grant programs, but the majority of these sites are selling information that is readily available from the state or federal government. Yes, the information they sell may be consolidated and indexed to make the search faster and easier, but some of the companies are not quick to update their lists and many of the resources may no longer be available, greatly diminishing the value of the product being purchased.

While being awarded a grant to buy a new car or pay off old bills may sound like a dream come true, according to many of the government’s websites and offices, getting a government grant, or a loan for that matter to erase bad debts, is not one of the options available to gain debt relief for single moms.

Programs Offer Help With Some Household Expenses

There are many state and federal programs that offer financial assistance to single family households and gaining debt relief for single mom households may be made possible with grants for help with heating and food and the money saved from these expenses can be used to pay off old bills. Promises of grants for people to buy new cars and never worry about paying back the government may also be exaggerated.

There are some community organizations that offer debt relief for single mom families and some can even help with job training, buying clothes needed for a new job as well as providing a vehicle with which to get to work. In most cases however, the car will not be new and the owner will be responsible for insurance and maintenance.

Most of the debt relief for single mom households can come by getting out from under the debt that was created by the absent partner of which the mom was not a party to originating the debt.

For more information about debt relief please visit my Debt Relief Concepts website where you can find more articles and information about debt relief for single mom

Article Source: ArticleSpan

What Are the Advantages of Factoring?

Originally posted 2012-05-03 22:17:47. Republished by Blog Post Promoter

Speed – Factoring and Invoice Discounting enable you to capitalize on your invoices with a minimum of postponement. You can get as much as 90% in the invoice within just Twenty four hours, assisting to keep a good working cashflow instead of requiring one to wait 30/60 days for a customer to pay (If they pay promptly!).

This is particularly useful if you achieve a sizable order that requires you to spend on stock and production costs before you get paid; factoring enables you to take the transaction with much less risk to your cashflow.

Expense – Factoring your invoices cost less than making use of charge cards, overdrafts and many other kinds of finance. Factoring also provides you with set charges, whereas credit cards and overdrafts costs can build up if you keep using them and not paying them off in full.

Time Conserving – Rather than having to chase financial obligations, factoring usually means the invoice finance company will collect the cash themselves; saving you time and effort that you can use to profit your company in other areas.

Security – Factoring does not require one to risk your property or business assets as security for the finance, as the funds are guaranteed on the sales you have already made. Remember though that some factoring companies will not want to factor high-risk invoices; as they bring the danger rather than you.

Funding Matches Your Business – It is possible to increase the funding degree to your enterprise through factoring as the business develops and improve its sales. Getting financing that stretches while you develop is very helpful; particularly as many enterprises fail due to the fact broadening sales use up their cashflow. Ideal for Businesses in all

Sizes – One huge advantage of factoring is it is potentially suitable for companies of any size; especially now there are invoice finance firms that are directed at small enterprises and their needs.

Are There Any Disadvantages to Factoring?

Track record – There much less reputable invoice finance companies which are being too aggressive in the collection of factored invoices that it could put your partnership to your clients in the line. However, you can avoid this issue by choosing a well-known and reputable firm.

Management – Factoring lessens the control you’ve got over your debts, as the invoice finance organization gathers them for you. Even so, this also indicates much less work on your part.

Factoring has a lot of methods to keep the business running. If you’d like to find out more about the versatile factoring service provided by The Interface Financial Group, please call us on 0800 014 8626 or visit www.ifgnetwork.co.uk now.

Originally posted 2010-12-12 06:50:42. Republished by Blog Post Promoter

The issue of how to repair your credit has been around seemingly forever, and has remained a very controversial topics both online and off. While most people advocate self help numerous credit repair businesses who come recommended by their clients would seem to suggest that getting outside help may be worthwhile.

Let us leave aside gossip, rumors, and even statistics about successful credit repair businesses. We’ll consider only the facts. You’ve heard that it’s possible to repair your own credit. This is entirely true. Even if you have no experience, you can learn how.

However it’s also true that the task can seem rather daunting. Although it can be done, there are many who would rather hire a company they would rather turn the work over to someone else, saving themselves time and effort.

If you want to know how to repair your credit, here are some simple steps. Once you’ve looked this over, you’ll have the knowledge that will enable you to decide whether to use self-help or use the services of a credit repair agency.

All right let’s go.

Step 1
Order your free credit reports. This is necessary because in most cases you will find that on learning how to repair your credit, and will put you on the road the problem lies in mistakes on your credit report. Call 877-322-8228 or visit AnnualCreditReport dot com.

Step 2
Find a mistakes in your credit report and get to work on getting them deleted. Here’s what you’re looking for – accounts that are not yours, credit cards that are maxed out, and incorrect information of any kind.

Step 3
Draw up dispute letters – one for each credit bureau. It’s very important that you do not dispute too many errors at once, otherwise the bureaus may ignore your letters altogether. You can attach documentation if you have any (copies only). This may improve your odds of the items being deleted.

Step 4
Add positive information to your report that will have a positive impact on your credit history and credit score. Get them reported and entered. Make sure all on time payments are being represented. It’s a good idea to procure a secured credit card as this could improve your balance to credit limit ratio.

Take concrete steps to pay off your debts, especially credit cards. Prioritize your payments so you pay off those debts first, because of the high rates.

Step 5
However, a good and viable option is to seek the help of a trusted credit repair professional as they are experienced in how to repair your credit. This will make your task much easier; all you need to know regarding how to repair your credit, is how you will locate a trustworthy credit repair service.

A few tips are in order; avoid closing paid off credit card accounts; If you do hire a professional agency

be on the lookout for scams; chose only those which have excellent reputation or that come with word-of-mouth recommendation. It would behoove you to inquire with the Ethical Credit Repair Alliance, the “watchdog of credit repair companies.”

Originally posted 2012-02-09 02:05:27. Republished by Blog Post Promoter

Given that the web is among the world’s main sources of knowledge nowadays, most people tend to be selecting to not just search their long term credit cards on the web but to apply for them too. Needless to say almost every organization contains a sales pitch why their rates are definitely the lowest and their card is one of the best, yet this is why investigating at home features this sort of edge. You can certainly apply for your needed credit card straight through a website. Because this is growing to be well known, many people tend to be taking advantage.

A lot of the best credit card companies can process your application form at once on the web and on most occasions you will get an answer in just a day or perhaps much less. Not surprisingly this doesn’t mean you could have immediate admittance to your card because you need to hold off until it arrives in the mail however, you don’t have to question for several weeks if you’ve been sanctioned or not.

By means of the conventional method, via mail or using your bank you can find you will end up waiting weeks or perhaps months right before you have any response and it could be that you had been declined right after all that waiting. Even though the application process online is easy and proficient you do still need to wait a little for the card to be mailed to you right before you are able to start out making use of it.

One of the greatest differences between the online application method along with the traditional application is that by filling out an application on the web you could be presented with the option to compare your chosen credit card along with the other prime companies before you decide to finish the application form. Since there are many credit cards online, you possibly can search through the offers right until you find a very good deal for you.

How do you get the best credit card to try to get via the internet? One of the most important factors will be the annual percentage rate (APR). Ensure that you try to have the lowest APR rate you could, considering the fact that a high APR implies the same purchase costs much more in the event you carry a balance from month to month. If possible, you also need to get a card with no annual fee. Lastly, credit cards feature a range of additional features and also gains, like gas credits, airline miles, and so forth. You really should take into account whether or not any of a card’s exceptional characteristics are necessary to you, then make application for the card that gives you the exceptional benefits you like best and can even try to make the most use of.

Of course along with the advantages to this variety of credit card application there are also several downsides also. The biggest constraint to instant approval online is that you need to currently have a good credit reputation. Nonetheless, if you do not possess good credit you may still find a couple of ways for you to be accepted promptly online. For the reason that credit cards grow to be more and more portion of daily life, the market industry becomes really aggressive and a lot of companies will approve you only to outperform their competitors. So as to get a lot more business and also outperform their competitors, a lot of companies will enable the line slide a little bit.

There are many credit card companies found online at this time as compared to offline which causes searching for new credit cards and data very simple. You could find thousands to choose from, each providing you distinct offers and rates. Being authorized instantly online is becoming incredibly easy, all you will need to conduct is fill out the application form, wait around and hopefully receive that authorization notice!

Marc Ilgen is an internet businessman and publisher. He owns a site called Credit-Card-Apply-Online-Here.com to aid people search for the ideal credit card deal. There re also information about Student Credit Cards. His particular site also lets visitors examine some terrific credit card deals and apply on the internet for a credit card.

Originally posted 2010-02-11 13:01:11. Republished by Blog Post Promoter

This Is How Junk Debt Purchasing Works

Let’s say for example, that at any given time, that 1,250 people default on Capital One Visa cards, and in-house collections have only resulted in the partial recovery of money from perhaps 250 people.

Keeping the math simple, that would mean that the credit card company has 1000 debts that will be very difficult, and very expensive to collect.

Now let’s assume that the average balance on each card is $5,000.00

If we now multiply $5,000 by 1000 we find that Capital One or whoever the lender happened to be, is now looking at five million dollars of unpaid debt, and my figures are very conservative.

A Working Example

On June 20th 2009 , a website offered to sell a batch of Chapter 7 bankruptcy accounts, that had a face value of $200 million.

The sale was on behalf of Collect America, which is one of the nation’s largest debt buyers and collectors, and you will now appreciate that my earlier example of five million dollars, was very low-ball indeed.

So What Choices Does The Credit Card Company Have?

a)It can hire a large number of debt collectors.

b) It can then pay a host of lawyers to fight almost every case.

c) It can sell the debt.

Well "a" and "b" don’t look too bad at first glance, until you consider that many of the people that are located, taken to court, and ordered to pay, won’t have the money to do so, because if they’d had it, then they wouldn’t have defaulted in the first place.

In Reality Every Major Lender Chooses "c".

And It’s Now Time For The Auction!

What happens next is that the debts are bundled into a portfolio, and the highest bidder will get them.

The bidding will start very low however, and will often begin with as little as five or six cents on the dollar, because the junk companies know very little about the contents of a portfolio until after they buy it.

They’re bidding on a cat in a sack, or a pig in a poke!

What Do The Junk Firms Know When They Bid?

a) They know how many accounts there are.

b) The average balance.

c) The average charge off date.

d) How many working phone numbers exist.

The Bidding Is Over

The bidding goes from 5 cents on the dollar to 8 cents on the dollar and Junk Firm X is the lucky or unlucky winner, and it now owns the portfolio.

It’s important to note that Junk Firm X will never be listed as the original creditor, and is therefore subject to the Fair Debt Collection Practices Act.

What Happens If The First Junk Firm Can’t Collect?

From that point on, the whole debt collection thing often becomes really nasty, and we’re talking about verbal threats, and using loopholes in the law.

The original lender might have seemed uncaring and tough, but it would never threaten somebody in intensive care with legal proceedings.

The first junk buyer was probably even less caring, and he might have been underhanded and tricky, but the next one will most likely make him look like a saint.

How Does The Second Junker Buy Try To Collect?

As the law stands right now, creditors are not strictly required to report to the credit reporting bureaus, details of debts that are no longer applicable because of debt settlement or bankruptcy procedures.

So the second junk buyer, who most likely bought your debt for even less cents on the dollar, will use this loophole in the law, and will quite frequently threaten to report an already settled debt to the credit agencies.

Just imagine, that you’re in the middle of buying a house or a car, and this junk buyer threatens to have your credit rating lowered.

You’ve already settled the debt once, but you have no choice but to settle it a second time, so that you can finalize the purchase of your house or car.

Hopefully you now have a much better understanding of why debts are bought and sold, and if you’re being harassed by a debt collection agency, or are worried that you might be soon, then take the time to read an article or two about debt collection techniques, and also learn about the statute of limitation on debt collection in different states.

The author of this article was a film producer, and award winning film sound editor for many years. He has a passion and a flare for economics, and one of his websites -> http://pay-off-debts.org features the famous Get Free In Three system which has helped a huge number of people get out from under suffocating debts.

Article Source: ArticleSpan

Originally posted 2011-12-21 00:06:25. Republished by Blog Post Promoter

Debt is problem that faces a lot of families in the United kingdom. It starts together with the client opening up one particular credit account. As soon as other creditors see that the person has one particular open account, they start supplying much more credit. A debtor can hardly resist an offer you for much more free funds, so he or she begins opening much more accounts. The issue with this predicament is that credit isn’t free. At some point the debtor need to pay it back. For a person who has overextended their revenue, the feat of paying down accounts might appear not possible. When getting from beneath your debt slump begins to appear not possible, which is when the debtor really should look into consulting with a debt management organization.

What is a Debt Management Organization?

A debt management company is an organization of specialists who have been trained to help individuals who are overwhelmed with debt. Organizations like this have access to a broad variety of tools developed to get the debtor back on track. Any individual who is getting fiscal troubles can get in touch with one particular of those organizations and give them background about their existing predicament. After that they are able to come up with a strategy which is tailored for the customer’s lifestyle.

Kinds of Debt Management

A debt management organization can offer you many kinds of support. One particular way they are able to assist a struggling client is with counselling services. Debt or credit counselling is a form of talking treatment. The debt organization can give the debtor guidance on how to decrease investing and enhance their potential to conserve funds. The organization might also advise the debtor on ways to shrink balances and not accumulate much more debt. Often a person just needs some direction. Debt counsellors are obtainable to give those folks the assist that they require.

Debt Consolidation

A debt management organization might also assist the debtor with a third celebration debt consolidation. This is actually the method of combining all of a person’s loose accounts into one particular simple monthly payment. The consolidation organization will normally get in touch with the consumer’s lenders and negotiate with them on behalf with the client. They are going to try to get the creditors to agree to lower monthly payments and reduce rates of interest. Negotiation isn’t often doable, but in some circumstances, it does work. The debtor will pay the consolidation organization one particular lump sum per month and they will take care of the many person accounts. The organization will charge a charge for their services.

One more service that a management organization can give is getting the loan companies to accept debt settlement. A settlement is a lesser amount of funds to pay off an outstanding bill. By way of example, if a debtor includes a balance of $500 on an account, the management organization could possibly encourage them to accept a $300 payment. The debtor is saving funds, the creditor is recovering some of their funds, along with the account is closed without any adverse statements around the credit report. In this predicament, all parties concerned are happy.

Originally posted 2012-03-08 00:41:51. Republished by Blog Post Promoter

Individual bankruptcy doesn’t need to be the answer to your debts. You can file for your particular personal debt consolidation financial loan if you definitely need to settle your debts. Credit card debt consolidation is simply a way of creating reimbursement of your debts considerably more stressless.

You will find some people who don’t must consolidate their debts to spend them off as the debts aren’t massive sufficient. People that have horrendous debts can use for your consolidation to help you them pay off their debts, no matter how significant the debts are. Credit card debt consolidation has aided people today pay off their debts about the years. Credit card debt consolidation allows to streamline your debts into an individual major river that you just can abide by easily. A secured financial loan includes a minimal interest rate because of the collateral involved. Unsecured financial loans are frequently preceded with better price of curiosity because of the absence of collateral.

The speed of APR on the personal debt consolidation financial loan is really a extremely vital element whenever you are looking for the ideal an individual for the personal debt predicament. A significant component that you just should also just take into consideration when looking for personal debt consolidation option may be the reimbursement interval. You will find quite a few factors that you just will require to consider in order for you to get the ideal personal debt consolidation program for by yourself.

Christian personal debt consolidation corporations assistance to manage the debts of Christians. Christian personal debt consolidation corporations assistance to barter financial loans for his or her clientele and make certain that their debts are managed. If you are a Christian with a drive to manage your debts, it is possible to talk to a Christian personal debt consolidation provider.

It is actually vital that you just carry out an intensive history test on any loan company you wish to get a personal debt consolidation financial loan from. You can look into if a specific personal debt consolidator loan company is for real by checking the higher Business Bureau to determine a list of registered loan providers. You will find plenty of scammers from the personal debt consolidation scene this means you need to be very careful.

Phil Rix Jackson is personal advisor and debt specialist that provides great financial tips on debt reduction and teaches you how to create an effective debt reduction plan

Learn About Debt Validation And How It Can Help You

Originally posted 2010-02-15 20:37:34. Republished by Blog Post Promoter

Imagine for a moment that you owe a person called Joe some money, and you get a knock on your door, or a phone call from somebody named Victor, who says that that he represents Joe, and says that Joe has asked him to collect the debt for him.

Even if you had the money, and knew that you owed it, would you pay this new person on the scene?

I’m pretty sure that you wouldn’t even consider for a moment giving Victor any money, until you were 100% sure that he was really acting on Joe’s behalf.

And that procedure is in essence exactly what Debt Validation is all about.

For your protection, and according to law, (The Fair Debt Collection Practices Act) you have the right to demand that Joe prove that he is empowered to collect the debt.

FDCPA Section 809. Validation of debts [15 USC 1692g]

If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.

N.B. The above only applies to third parties such as debt collectors and collection agencies, and does NOT apply to original creditors, i.e. credit card companies and the company that originally made the loan.

What’s more, a computer computer-generated printout of the debt is insufficient, and they must provide you with actual proof that the debt exists, and you are not responsible for the cost involved in searching the records.

And If A Creditor Or Debt Collection Agency Cannot Verify A Debt,

1) They are not allowed to collect the debt

2) They are not allowed to contact you about the debt

3) They are also not allowed to report it to a credit agency

4) If they violate any of the above you have the right to $1000 in damages which can be claimed via a small claims court.

How Does A Debt Collector Prove That He Owns A Debt?

1) By providing a copy of the original signed loan agreement or credit card application, or showing account statements from the original lender

2) Showing some kind of proof that the collection company owns the debt/or has been assigned the debt.

If you want to have some fun, and make life far more difficult for the debt collector, then you have the legal right to ask him to show,

a) How the debt was calculated

b) How much he added on

c) How he determined his fees.

Was Your Debt Assigned To The Collection Agency Or Did They Purchase It?

The reason that this is important, is that if the agency was simply assigned the debt then you don’t technically owe them anything, unless you signed a contract with the original lender which included the wording, "debtor agrees to be responsible for payment of this debt to creditor OR ITS ASSIGNS".

The clause is not in frequent use but it is written into some creditors’ contracts.

And If The Debt Collection Agency Did Purchase The Debt?

Even if the debt collection agency purchased the debt, they are not the original lender and you are still protected by the FDCPA.

How And Why Collection Companies Buy Bad Debts

All kinds of creditors use collection companies, because they themselves generally have neither the time nor the resources to follow up on debtors that are deemed to have defaulted on their debt.

So most of the big original creditors now sell their debts in large portfolios to collection agencies that bid on them, and they are traded on Wall Street.

JDBs (Junk Debt Buyers), very often buy bad debts for as little as two cents on the dollar, and more often than not the only things that they know about what they’re buying is the amount of the debt, a name, and a last known phone number or address.

So it’s easy to see then, how a company that focuses on debt collection, pays so little for the debts, and doesn’t perhaps feel as ethically restricted as the original creditor, can make a great deal of money by tracking down debtors and getting them to pay as much as they’re able.

The author of this article was a film producer, and award winning film sound editor for many years. He has a passion and a flare for economics, and one of his websites -> http://pay-off-debts.org features a large number of highly popular articles about the world’s economy in general, and debts, debt settlement, debt consolidation and bankruptcy in particular.

Article Source: ArticleSpan

Debt Consolidation – Debt Free In 1 Year?

Originally posted 2011-11-29 00:34:04. Republished by Blog Post Promoter

Many men and women tend to make many monetary mistakes since of their credit card debt conditions. You’ll want to not allow your credit card debt to obtain for you and prompt you into making a bad selection. Just before you make any selection about your debts, you need to seek counseling from a monetary advisor.

Debt consolidation strategies allow you to pay off your debts quicker than you would have in case you didn’t consolidate them. Should you consider out a credit card debt consolidation, you can benefit from it by paying reduce rates of interest. There’s so a lot to benefit from a credit card debt consolidation; so don’t hesitate to go for it.

There are several dishonest lenders out there who are looking for desperately financial people to take advantage of. To ensure that you meet debt consolidators who are worth their salt, check up with the Better Business Bureau (BBB) where you will get a list of legitimate debt consolidation providers.

A secured credit card debt consolidation mortgage is often directed in direction of men and women with good credit history who hit a bad patch. With a secured credit card debt consolidation mortgage, you receive to pay reduce rates of interest and you could create off your home equity mortgage. You may nonetheless obtain a secured credit card debt consolidation mortgage for those who have bad credit but you can must pay high rates of interest. Be wary of debt consolidation providers that desire that you pay a specific amount of capital upfront ahead of they attend for you. Avoid credit card debt consolidation providers that are claiming not gain standing but are demanding upfront charges. You will know legitimate credit card debt consolidation providers by the amount of charges they charge for every account you might have with them.

Don’t believe in all of the reduced fascination delivers that almost all credit card debt consolidation providers give as they may well be bogus fifty percent the time. Prevent credit card debt consolidation applications that attempt to get you to be a part of 1 affiliate program or the other. Attempt to research other credit card debt consolidation solutions ahead of you make any choice.

One of the factors that you have to consider when you are looking to consolidate your debts is your income. If your income can, in no way, cover the monthly payments and interest of a debt consolidation mortgage, then credit card debt consolidation isn’t for you personally. Debt consolidation is simply great for men and women who earn enough to cover all of the payback phrases of the mortgage.

Paul Robnard IV is mostly a financial coach and contributor to credit card debt elimination. He’s produced many articles about personal finance, debt elimination plan, unsecured debt settlement, and provides important debt relief and credit repair advice.












Should You Pay Off Debt or Not?

Originally posted 2010-02-09 08:56:38. Republished by Blog Post Promoter

Keep Cash or Pay Off Creditors?

Most people would love to live without any debt. We dream about the day we can burn or mortgages, drive a loan free car, and not owe a cent to credit card companies. Since that seems to be a distant goal, some of us dream about winning the lottery, or chucking everything to live in a shack in the mountains.

Have you ever thought about end of the world movies and stories? I think that people like them because they can picture a life without debt, even if something really awful has to happen.

Is your debt really hurting you? While most of us would like to pay down high interest credit cards, we also need to build up a savings account. There is no right answer for everybody, but only an answer that works for you.

Juggling Debt

Instead of paying it off today, is there a way to pay less interest for it? You may be able to find a lower interest rate on your loans. Credit cards could be moved to a friendlier company, and homes or cars could be refinanced. You may be shocked at how much lower your bills will be if you can reduce your interest rates.

Look at high interest rate credit cards. It is not unusual to see 25% interest rates these days. If many Americans carry $8,000 in debt, that means they have to pay $2,000 just to service it. If you could reduce that interest rate to 12.5%, you could save $1,000 every year without working any extra hours.

Make Sure You Save Too

In your efforts to pay down your credit cards and loans, try not to neglect your savings or investment accounts. Emergencies happen, and you do not want to have to depend upon even more credit. If you do need to deal with a health emergency or make a sudden trip, you want to be able to have some cash.

Try to Stay The Course

You need to have a goal, and a way to reach that goal. Consider putting an extra fifty dollars toward paying off loans, and then allocating an extra fifty dollars toward your emergency fund. Even a modest amount is better than nothing.

If you set goals you will never meet, you will never do yourself any good either. A thousand dollars toward debt, that never actually gets paid, will do you no good.

Balance The Interest Rates on Investments, Savings, and Credit

Do you have a fairly good home loan with a lower interest rate? Do you also have a way to save your money that pays high returns? Then you do have to consider that you may be able to deduct the home loan interest, but have to pay taxes on your savings. In this case, you will probably do well to leave things alone.

You also have to consider the impact of state and federal income taxes. If mortgage interest gives us a deduction, it might work in our favor. So even though we have to pay interest on the money, the actual rate is lower when we consider the tax deduction.

Get more help with the question of paying off debt. http://www.frugalpig.com/frugallife/pay-off-debt/should-i-pa y-off-debt/

Article Source: ArticleSpan

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