Originally posted 2010-12-27 07:13:34. Republished by Blog Post Promoter

A recent publication of the Daily Mail ran with a headline of “small firms bled dry by the banks” and the article discussed the fact that big finance houses were lifting profit margins on loans by a third and at the same time they were reducing lending by 43%. An example was presented of a small company owner who had banked with Lloyds for the last 47 years and his company had never made a loss, then when he asked for a loan to expand his company, the local branch set out reasonable terms, but had to send the paperwork to head office for approval. On return they discovered that the interest rates had been doubled, as had the administration costs and what is more they wanted him to put up everything as collateral. Naturally, the small company owner did not accept the loan offer and is now moving finance houses.

If this is the mind set taken by finance houses for a small company that is financially in good health and is looking to develop, then what approach would they take if a small company needed a loan to get them over a difficulty? Probably the finance houses won’t pay any attention to them after they saw that they actually need the loan, so for the small company they should communicate with the large company to ascertain when they expect to settle the overdue invoice. If the result is not a satisfactory one, then the small company might be best to look into Debt Collection and try to locate the best means of asking the large company to settle the overdue invoice, without laying out a lot of money. If the small company think that the normal Debt Collection way of using legal practices or Debt Collection Agencies is preferred, then they might well need to look into the costs, which are around 10% to 20% or more of the invoice total. For this amount, the small company might realise that this might be a big proportion of their profit and one that they might not be prepared to give up. The normal legal practices and Debt Collection Agencies should be working to Fair Debt Collection Practice that would help to safeguard the professional relationship with the large company, but in these times the poor financial climate has seen an increase in the numbers of Debt Collection Agencies and legal practices that are offering business to business Debt Collection services. It would be almost expected that some of these newer legal practices and Debt Collection Agencies would not follow Fair Debt Collection Practice as they might well be only after the money as fast as they can get it.

The small company might well have no way of distinguishing the good from the bad legal practices and Debt Collection Agencies and might not want to see their professional relationship being ruined by the legal practices or Debt Collection Agencies not working to Fair Debt Collection Practice. Their best move might well be to try out Debt Collection software, since they can do the Debt Collection process with their own resources and thereby be in control of the interaction with the large company. A good Debt Collection software application can cost around £40, which should not be seen as a large outlay, since the small company can reuse the Debt Collection software as many times as they want without paying anything else. legal practices and Debt Collection Agencies however, will recover their fees every time. The small company members of staff will need to have guidance on the Debt Collection process, especially the Fair Debt Collection Practice and then how to compose Debt Collection letters. This guidance should come from the documentation that comes with the Debt Collection software application or possibly online from the web site of the Debt Collection software company.

So, by working hard to learn about the Debt Collection process and using Fair Debt Collection Practice when both generating Debt Collection letters or contacting the large company in other ways, the small company should be able to persuade the large company to pay the overdue invoice and for a lower price that by using legal practices or Debt Collection Agencies.

Originally posted 2010-03-22 08:30:59. Republished by Blog Post Promoter

Wouldn’t you love to be able to convince your money guzzling auto insurance company into paying off your debt? That’s exactly what some SUV owners out in California thought, and they successfully managed to use their auto insurance companies to pay off their debt. It was great-until they got caught! Here’s what happened out in California and why insurance fraud just isn’t worth it.

What Happened

Several years ago the economy began to droop-but then again, you already knew that! What you might not have known is that drop in economy left hundreds of SUV owners holding "upside down" bank notes stating that they owed more on their lease or current car loan than their truck was worth. They were struggling to make their payments while still keeping their SUVs insured, and many of them turned to GAP insurance to make up the difference between their auto insurance coverage and their vehicle loan if disaster struck.

This meant they were still paying extra every month and struggling to make ends meet. Something had to be done.

Who They Turned To

Many SUV owners contacted the Southern California dealer (names are not being revealed at this time) to see if they could trade their SUV in and purchase a cheaper model-like a nice four door, gas friendly sedan. Their dealers shifted them over to another department, who had a better proposition for them. They would connect them with a ring of arsonists who, for $300, would torch their SUV, allowing them to claim the loss through their insurance company.

Fraudulent arsons take place every time the economy takes a dip. One arson investigator not so fondly recalls the night he was called out to thirty two vehicle fires in a single evening. What most of these drivers didn’t know was that cops are good at identifying fraudulent vehicle fires. Really good. Why? There are a few tip offs that are impossible to fake. First and foremost, in most vehicle fires the owners are still standing nearby. When a vehicle is alone and burning the cops always start asking questions.

Anticipating this response many of these drivers had the foresight to declare their vehicles stolen, which only raises more eyebrows. And then there’s the little matter of accelerant. For an SUV to burn enough that the auto insurance provider will declare it totaled before the comps and the fire department arrive the arsonist is almost always going to use an accelerant. Most drivers assume that because cars use gasoline anyway no one’s going to notice if a little gasoline burns.

News Flash: There’s not usually gasoline INSIDE the cab. And yes, arson investigators notice these things.

How They Got Caught

Eventually the wheels of justice started turning and the police caught wind of the scam. They set up a sting, contacting the dealer and making arrangements with the arsonists to torch a vehicle fully equipped with cameras and a fuel switch. When the arsonist climbed into the cab, picked up their money and tried to drive away the SUV locked down and the firebug was trapped until the police arrived. This sting led to the arrest of seven other people and the end of the arson ring.

It just goes to show that no matter how well insurance fraud might pay, it’s always a bad idea.

Mike McDonough is a National Account Representative for QuoteScout.com. For more information on auto insurance and auto insurance fraud visit them on the web at http://www.QuoteScout.com.

Article Source: ArticleSpan

What is a Tri-Merged Credit Report?

Originally posted 2010-12-11 01:15:01. Republished by Blog Post Promoter

There are three credit score reporting agencies: TransUnion, Equifax & Experian. It is doable to get your credit score report from every one merged into one credit report doc referred to as a Merged Credit Report .
How do I get a merged credit report?
Getting a merged credit report (or a tri merged credit report) is pretty simple. Should you buy your credit score report, you will want to buy all three credit reports and merge them into one document. This will happen at the level of sale. If you visit any of the credit score reporting companies’ websites you will have the option of purchasing all three credit studies at the similar time and they will be delivered in a single doc called a tri merged credit report. A merged credit report is the kind of credit report most lenders will use to evaluate your credit score worthiness. You positively need to see what every credit reporting agency is reporting about you. They don’t all report the same data. Due to this fact, if you need an entire image of your credit state of affairs (for credit repair or for getting a mortgage within the near future) you’ll want to see all three reports. While you get the merged credit report it will likely be indicated which accounts are reporting to which credit score bureau. This is important info for credit repair. You clearly don’t need to dispute an account with TransUnion that isn’t being reported to TransUnion. The merged credit report will indicate which credit score reporting agency is reporting the account and you will be able to act accordingly. 

Originally posted 2012-02-12 23:25:42. Republished by Blog Post Promoter

There are many people easily available who are truly particular based on the volume of area they have within their house and they will be generally considering room addition San Antonio to possess a much better home. If you’re one of them folks, then you certainly should know the benefits of an additional room and the way it can get you to definitely feel really convenient together with your new house.

To begin with, you have to think about the type of vicinity that you might want to include. There are numerous types to pick from and you will make use of the one which you believe provides you with speedy and useful effects. You might offer to each one of these choices so you may select one that’s ideal for your home.

A really popular variation of these enhancements would be the family room that’s thought to be the ideal selection for just about any place even when it’s turned into one more bedroom. You will see that such edition supplies a great deal of advantages for your loved ones.

When you’re prepared to have such certain portion of your house, ensure that you have classified items effectively. It will help make sure that your ideas rhymes with no problems because clumsy system will provide numerous potential problems afterward.

The efficient use of this sort of region can be a space of enjoyment for the entire residence, or perhaps an expansion of the household room to enhance much more places. Regardless of the points, there are lots of types of applications that will allow you to definitely execute a volume of choices within the growth and development of one more place. This excellent procedure often leads anyone to decide on that which they believe might complement their property and needs.

There are plenty of benefits that may be experienced every time a property owner chooses room additions then one of the most popular benefits is it could make your home less congested plus more spacious. For those who have kids in your own home, I am certain they would prefer to stay and revel in a lengthy pr large house.

Debt-credit 101

Originally posted 2010-03-13 22:17:27. Republished by Blog Post Promoter

Many americans are in debt – some quite deep. Statistics show that the average American carries an average of $15,000 on their cards . That’s a lot of money! We are an instantaneous society meaning we want what we want when we want it. So when a consumer has a card, it’s often easy to just whip out the piece of plastic and charge purchases.

It’s not that we don’t intend to pay the bill – at least most of the time. Most people have good intentions when it comes to their credit card debt. They’ll pay the bill when they get their next paycheck, they’re expecting a cash windfall and they’ll pay the balance in full then, or they figure they can always make payments. But sometimes life happens and circumstances step in preventing people from paying down their card debt which is how many people get into trouble.

Credit card companies like this and they constantly deluge us with offers of low financing rates with high credit limits all in the hopes that they will run up a debt and then have to pay finance charges which is how they make their money. And those offers are coming to people at younger and younger ages.

It’s not uncommon for a new high school graduate to get a offer that they send in for. Many of these young people love the feeling of being able to charge merchandise without having to pay for it at the time. Many of these young people are also not financially savvy and the debt piles up rather quickly.

If you find you have gotten yourself into a problem with credit card debt, it’s important for you to take steps right now to take care of it. That means you need to pay down that debt as quickly as you possibly can until you can achieve a zero balance. Probably the best idea to get out of debt is to cut up the plastic and then make the largest payments you can for as long as you can to help take care of the problem.

Credit card debt is a fact of life for many Americans and it can affect credit ratings which can cause denial of a loan for a car or a home. Get out of debt as soon as you possibly can. It will reflect well on your credit report and make potential future lenders trust you more as a good credit risk.

College students are running up an alarmingly large amount of debt these days and it is only increasing with the passage of time. The average undergraduate student carries $2,500 in credit card debt and by the time they graduate from college, they are beginning their new lives in the "real world" with debt that they can’t pay.

Students figure: I’ll live like I want to now and then when I get a job it will be easy to pay it back. This is often not the case. Lower-than-expected salaries, plus higher-than-expected living expenses and hefty student loan payments, make handling debt all the more difficult for students and recent grads.

And the worse part about college students having so much credit card debt is that it takes so long to pay it off. Even if they are able to make the minimum payments, by sticking to minimum payments it would take a student more than 12 years and $1,115 in interest to pay off a $1,000 bill on a card with an 18 percent annual rate. If students fall behind in their payments, they get slammed with high late fees. And it’s easy for things to get out of hand.

Of course, there are two sides to this story. Most college students start out with little and even no credit, so having plastic seems like a good idea so they can start building a credit history in anticipation of owning a new or better car and even, someday their own home. Except for if they haven’t been warned of the dangers of using credit cards or are especially naïve, this could be a bad move.

Credit card debt for college students affects many, many aspects of their college lives. They can’t pay their bills regularly and find themselves short of cash. Plus, it can affect their ability to secure a student loan which can be crucial with ever-rising tuition rates. And parents should beware of putting their college student on their own credit card as an authorized user as the same debt can pile up under the parents’ names and cause some serious credit problems.

Armed with the right information, many students are able to establish credit and steer clear of card debt. Even though college students do carry credit card debt, 54 percent of college students pay off their credit card balances every month. Most tend to be responsible and use the card wisely.

However, some of them don’t and they’re getting into trouble. If a person makes it through 18 years of life without any financial wherewithal, it’s very difficult to change their behavior and that’s why it’s so important that parents speak to their children about money management. To keep a college student out of credit card debt, the key is teaching students money management skills before handing them a credit card.

Alphonso Smith has long advocated more personal savings nationaly and less global debt. He has written several books and numerous articles on personal finance. These days he is advocating more help for the middle class, who are the back bone of the economy. For a free 7 lesson e-course that will give your credit more muscle: Click on link below. http://www.debt-creditrepair750.com

Article Source: ArticleSpan

Facts To Know About Debt Management

Originally posted 2010-02-05 02:01:03. Republished by Blog Post Promoter

Debt management refers to an unofficial procedure of negotiation with the creditor in order to get a cutback in the rate of interest taxed or to decline contractual repayment. The negotiation procedures involve offering testimony to the creditor that the debtor does not have sufficient funds to meet up all the obligations.


This is the most appealing criterion of debt management. It is universal and open for the entire population. Anyone can take the benefit of it. No matter what your current financial status is, whether you have good credit or a bad credit or filing a bankruptcy, debt management works for everyone.

Debt management helps every debtor in improving the credit score by facilitating him responsible to a single low payment on a monthly basis. With the help of effective negotiation policies, debt management companies make the creditors understand about the existing financial condition of the debtors and work out to resolve the condition.

Debt Counseling

Debt counseling is an integral component of an effective debt management. A debt counselor guides the debtor about appropriate management of existing debt and helps the debtor to find out solutions to pay off the debts as soon as possible. Typically debt counseling may involve a wide range of techniques.

The first thing that a debt counselor suggests is to curtail expenditure on unnecessary things. The debt counselor also designs a budget that the debtor is asked to follow rigorously. If the debt has sustained for a prolonged period of time, appropriate arrangements are also advised during the debt counseling session.

Debt Consolidation Loans

This is another effective debt management tool. Debt consolidation loans facilitate a settlement of debt taken by the debtor. It focuses on making the repayment easier by minimizing the rate of interest. The debt consolidation loans help in securing the current debts of the borrowers along with a lowered interest rate.

Potential Benefits

Debt management strategies are designed by the expert debt management agents who have gained an in-depth experience in this field. It effectively aids the debtors in repaying the debts at an affordable and lowered rate of interest. Additionally, it helps in consolidating the unsecured debts to a single monthly payment.

You must be aware of the fact that a majority of debt management companies who demand huge charges against their debt management services. But certainly there are few companies who do the same job at a lowered fee.

For more information about debt management please visit my Debt Management website where you can find more articles and information about debt management

Article Source: ArticleSpan

The Great Credit Card Fraud

Originally posted 2012-04-14 22:17:03. Republished by Blog Post Promoter

In the face of surging bankruptcies, challenging times, and increasing credit card fraud you’d think the credit card industry could be on the ropes. But that’s far from the truth. The truth is, this past year the industry posted near record profits. How did they do that? Easy – by stealing you blind!

They run high-priced TV ads in the midst of January tempting you with white sandy beaches and warm tropical sunshine. Or they show a couple happily sipping champagne on the deck of their cruiseship stateroom in the sunny Caribbean. It looks mighty good every time a bitter winter storm is howling outside your window!

Their purpose is very simple: get you into debt and after that help you stay there for as long as possible while they bleed you dry with a toxic blend of high interest rates together with other hidden charges. The things they do should really be criminal since it clearly preys on the human weakness of desire. We’d like things for ourselves as well as for our family members. It’s only normal. They provide what we want and after that over time they charge us three to six times the initial price. But don’t expect the government to provide protection anytime soon. The charge card industry has considerably more influence over our law makers than we ever will. They make huge campaign donations so the government happily provides them with a license to steal and throws us to the wolves. Consequently the madness continues.

Where will all of it end? Personal bankruptcies will top 1.4 million this current year. Total credit card debt is currently more than two trillion dollars and headed towards the moon. Eventually this concern must be dealt with on a national level fo the time being – you’re completely on your own.

Fundamentally if you have a ton of credit cards and unsecured loans and if you’ve been late with a payment or two you can expect that a majority of issuers will notify the big three credit bureaus and you will end up getting one or two negative marks against your credit score. Though those marks will stay for around seven years, the good thing is that you can begin to rebuild your credit immediately. Just be sure to make all your minimum payments right on time.

Crizza Reyes
Crizza writes for many women’s blog sites and periodicals about issues concerning women. For more information about credit cards and unsecured loans please see more at our web site or on Amazon.

Originally posted 2012-01-06 20:08:50. Republished by Blog Post Promoter

What are your costs because of not factoring?

Look at the time value of money as well as the benefits of improved cash flow to your business. Paying your suppliers can be done through having cash within 24 hours so you could also receive better discounts too. Are you able to fulfill your next order to XYZ Company to make payroll without tapping your line of credit at the bank? Will it be possible for that you offer longer terms to larger customers and have more business? Can improved cash flow help your business grow or survive without incurring more debt in the bank? Is it feasible the your debtor factoring fees be outgrown of the improved cash flow you have benefited in your business? Sure it can, the savings alone in taking discounts from your vendors can equal the cost of Factoring. You can keep those other savings! Factoring is a smart business decision. Why aren’t you doing it?

Is cash required right away for growth or survival?

Can be your business cash flow stressed with long billing cycles? Despite increasing sales, does the control over receivables and payables seem like a juggling act? Could your business increase sales by offering better terms in your new and larger customers? Are you spending too much time collecting from slow paying customers without enough time building your business? Has your traditional financing been turned down by your bank due to years in business, profitability, lack of assets, financial strength or personal guarantees?
Have you contemplated turning away new business due to slow cash flow? These are generally challenges many businesses face that can be solved with debtor factoring.

Advantages of Debtor Factoring

The idea for you advance funding you’ll receive for your receivables and also discount fees you will pay is the financial strength and credit worthiness of your customers rather than your business!

You obtain Cash for your unpaid accounts receivable invoices. Most of the factoring company buys the invoice from you with an amount less than its actual face value (70-90%). Once the Factor later collects the full amount of the invoice from your client, you will receive the remainder of the advance less the factoring fee (discount rate). Fees will vary depending on the total dollar amount you intend to factor on a monthly basis.


Do you need a financial solution flexible enough to assist your business to be more competitive while improving supplier discounts, credit rating and cash flow? Factor as much as your want or as little as you want. You choose. No obligations. The amount you can factor are without minimums and maximums. No binding contracts, if that is what you want.

Traditional bank financing relies on your financial strength and credit history while debtor factoring bases it on your customers’. Here’s why you need to use debtor factoring services:

Offer Better Terms – Win More Business

With Factoring, you can attract more business by offering better terms on your invoices. Most businesses negotiate on price to win business in a competitive market, but with Factoring, you can negotiate with terms instead of price.

To your customers, better terms can be more pleasing than better prices.
When you use attractive terms to win business, you can build the price of factoring into your costs of products and services.

Example: A new customer may choose to do business with your company since you can offer NET 30 or NET 45 terms while your competitor (who isn’t factoring) requires payment up front but has a 3% better price. In the event you factor the subsequent invoice for much less of 3%, you have leveraged factoring services to win the business free of charge and improved your cash flow concurrently.

Improve Cash Flow* NO Additional Debt *WIN over customers

Your Business Receives:
* Get cash in 24 hours or less from your outstanding invoices! Eliminate long billing cycles.

* There isn’t any new debt created. Factoring is not a loan. This allows you to preserve your financial leverage to take on new debt.

* Improved credit rating.

* Purchase capital equipment to flourish your business.

* Increase inventory for quicker shipments or handle seasonal inventory needs.

* Promote for additional business.

* Take trade discounts. You’ll have more saving and may outgrow your factoring fees with these discounts alone!

* Pay off nagging, expensive delinquent obligations.

* End payroll worries.

* Meet tax requirements on time. Ignore penalty fees that are exhausting.

* Negotiate discount purchasing.

* Unlimited sales and profit potential.

If you’d like to receive an increase in cash flow and improve your bottom line profits, you need to use debtor factoring now!

Originally posted 2010-02-19 02:10:21. Republished by Blog Post Promoter

One of the most important things to bear in mind when talking about debt is that debt must be dealt with immediately as soon as it’s presence becomes apparent.

Many simply will not stare at their debts in the face and square up to them.

People think wrongly that debt will simple go away.

This is certainly not the truth as debt will not disappear over night of over the course of time, but will remain and grow and spread like a cancer destroying everything in it’s path, which in the case of debt is mental and physical health and peace of mind.

Soon for a person in debt the only thing that permeates his entire existence is debt and nothing else is of interest.

Extreme fatigue soon sets in as a good night’s sleep becomes a thing of the past and the lack of sleep exacerbates the debt worries as it is more difficult than ever to cope with life when in a state of constant fatigue.

When the mail comes through the letter box each morning you cringe knowing that it will be credit card statements that you are finding difficult to pay or demands if matters have become more serious.

The ring of the telephone makes you almost physically sick and you wish that they would all go away and leave you alone with your thoughts.

There is no need for anyone to struggle on with debt as there are debt solutions available to help those who are just struggling slightly due to having taken out too many credit cards or those who are in a serious situation.

People sometimes take on too many credit cards not taking account of the fact that they already have three credit cards when they take out a fourth, and before long they find that making repayments of the total balances of £20,000 on the four cards with a minimum payment of £600 is proving too expensive for them.

All individual bits of debt can be lumped into one by debt consolidation.

For homeowners, debt consolidation is best achieved by either a remortgage or a secured loan, commonly called a homeowner loan.

With credit cards having interest rates of at least 20% and as much as 40% or over, paying them off with a remortgage with interest rates from 1.Secured loan rates start at round about the 9% mark and remortgages are from 1.98% and therefore they are both useful home loan products.

Great savings, running into hundreds of pounds, can be made as well as finances becoming easier to handle.

For those who do not own their property or homeowners not eligible for a remortgage or a secured loan obtaining the correct debt advice and debt help from an expert will offer other debt solutions to help those in debt become debt free once more.

Champion Finanace is one of the longest established secured loan brokers in the counry if not THE longest established. You can therefore trust Champion Finance to arrange your homeowner loan or your whole of the market remortgage or mortgage Debt consolidation, debt management, debt advice, debt solutions and Trust Deeds, and IVA’s also arranged. http://www.championfinance.com/debt_advice.htm

Article Source: ArticleSpan

Originally posted 2012-02-17 00:33:58. Republished by Blog Post Promoter

Debt is a major concern for many individuals around the world. Even though there are many debts that can be prevented and can be paid with small payments, there are many people who are dealing with debt every day. Some individuals cannot even pay their debts. However, individuals can also make use of free debt management services to help gain insight into methods they can use to improve their circumstances.

A free debt management service is the most useful to individuals who do not have enough money to pay for other management services in their area. Because a large amount of your money may be devoted to trying to pay off your debts, it makes no sense to pay additional fees to debt management companies. Likewise, if you are one of the many people that cannot pay your debt at all, you likely cannot afford the fees that are associated with these services either.

The great thing about these types of services is that they can help you by creating a free debt management plan. This will provide you with options of payments that can be made and various actions that you can choose to help you manage your debt in the meantime. Regardless of if you need to contact a credit bureau or work with the service to get your debt settled, you will discover that there are numerous options to choose from.

Many wonder how they can find these types of free debt management services in their area. You can find a lot of information by checking out some of the programs that are provided by your state or town. There are generally several programs that you can contact for guidance if you are having problems with debt. If there is nothing available in terms of government programs, you may want to check out the internet for more resources.

In most cases, you can find local programs that should be considered. It should be noted that not all of these options may be free. Despite the amount of debt that people continue to incur as time progresses, not every city or region has a free debt management program. You may have to contact a local debt management service and inquire if they would be interested in working with you more flexibly in consideration of your current debt situation. You can even contact debt management services that are outside of your city for guidance and information about what you can do to deal with your debt problem.

Overall, you do not have to allow your debt situation to control your life or destroy your finances. You will discover that there are many alternatives and solutions that exist to help you improve the situation. The key is to contact a professional service that can provide you with advice and guidance in consideration of your circumstances. Additionally, do not always assume that you will need to pay an expensive fee for these services; there is a wide range of free debt management plan that will help you for a smaller price or for free. By considering all of your options, you will greatly improve your chances of getting out of debt with less stress.

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