Get Out of Debt 100% with a 1% Effort

Originally posted 2010-03-06 07:55:35. Republished by Blog Post Promoter

Most people don’t even realize that their effort to get out of debt is largely thwarted by a lack of direction. A million different gurus out there want to teach you how to successfully achieve your goals. Unfortunately, most of the people that buy into these programs achieve very little success in moving towards their goals.

The problem is that they are missing the biggest ingredient. Only do what you love. You may be wondering, "How am I going to get out of debt by only doing what I love?" Well, I don’t mean do whatever you want. This doesn’t include playing hooky from work or eating five of those triple chocolate turtle brownies. This means taking a look at the things that are most important to you – not the things people tell you should be important – and prioritizing those.

So how does this help you get out debt? Well, the elimination of debt is side effect to doing exactly what you want in life. In theory, if everyone were to follow their true will and love, no one would even need a guru to tell them how to get out of debt. Things would be harmonious.

A mentored life benefits many people to helping them get on the right track. Their self-esteem and self-motivation becomes so high with a little bit of self-discipline that they start achieving wondrous things in all areas of their life.

If you have a goal to get out of debt, you need to make a step towards that on a regular basis. Some people like to set up savings account and save up a thousand dollars by a certain date. Every week, they go to the bank and make a deposit whether it is $1 or $100. Even if they don’t have any money, they still make that drive and deposit a penny just to be in the habit of doing it.

When they do it, they tell themselves that they just made their $1000 deposit that day. This is a form of positive thinking. The tiniest one percent moves toward your big goal changes your whole outlook.

Now, let’s look at your effort to get out of debt. If you have any sort of credit card debt, you need to eliminate the high interest credit cards first. In today’s economy, the best investment that you can make is paying off your debts. The interest rate of your debt will trump any percentage of earnings on a CD or savings account.

Let’s say that your debt is $10,000 in credit cards. Cut those cards up and only keep your lowest interest rate for emergencies. Personally, I think that any debt is bad debt. However, there are a few cases when the payoff of going in debt exceeds the debt if you pay it off immediately.
Set up a schedule where you put a pay a certain amount off every week or every month. (In most cases, you can set this up online.) Every time you do proclaim, "I just paid off a $10,000 debt!"

Stop buying things just because they are a good deal. Indulging in material goods through a sense of entitlement won’t help you get out of debt even if you have been working hard.

www.giftfromraymond.com has been teaching his true wealth secrets for over a quarter-century so you can double your income doing what you love.

Article Source: ArticleSpan

Originally posted 2010-03-11 18:34:48. Republished by Blog Post Promoter

Stories of debtors and bill collectors have always been with us. From ancient times to the present there have been people who owe money and those who try to collect it. Sometimes a person or company will attempt on their own, and sometimes they employ a professional debt collection agency.

With most of the world operating on some sort of credit, is it any wonder that debt is at an all time high, especially in today’s difficult economic times. The collection industry has become enormous, and many of us have at one time or another come face to face with a collection agency.

In their zeal to recoup owed money, agencies sometimes stoop to unfair and illegal tactics. This happens quite regularly. In fact, statistics show that consumers lodge complaints about the the debt collecting industry more than all other industries combined.

The modern popularity of social networking services has seen the dawn of some rather innovative ways of pursuing debtors. With so many folks displaying their lives on Facebook and MySpace, it’s not surprising that sooner or later some collection agency will come knocking online.

As a matter of fact there’s a story going around that someone was behind in their car payments and the collection people published the debt collection notice on their child’s MySpace page. It’s quite possible not to answer a knock at your front door, or not answer your phone, but a personal networking site is much more open. Someone can claim to be a friend and gain access with ulterior motives.

Another cautionary tale is to be aware of unpaid medical bills. Even if you have health insurance, make sure that any submissions for payment are indeed paid. Providers of medical services are becoming much stricter than they used to be. They simply contract a third-party collection agency to go after you. If you have claims in the works, phone your insurance company to make sure that they have your paperwork and that payment is being processed in a timely manner.

If you discover that there is a dispute, be sure and contact your medical provider. Let them know a resolution will be found and that you’d greatly appreciate them not turning the debt over to a collection agency. Endeavor to obtain a lower bill if you don’t have insurance, then institute a payment plan and stick to it. Even a small medical invoice can become big trouble to your credit score if it gets sent on to a collection agency.

The previous examples of collection attempts are undoubtedly embarrassing and unfortunate. The problem is that things can escalate from there and you can find yourself being bullied and hounded for something your insurer should be taking care of, or for a debt that is not even yours.

The Fair Debt Collection Practices Act or FDCPA was instituted to protect people from unfair collection tactics. Here are some facts to arm yourself with. You can dispute the debt by obtaining the name, address and phone number of the agency and sending them a certified letter within 30 days. The agency must show you proof or else cease calling.

Be sure and monitor your credit report. If the debt shows up, get in touch with all the credit bureaus and bring this inaccuracy to their attention. Back up your protest with a copy of the certified letter you sent to the collector. Most importantly, if the harassment continues, contact a fair debt attorney who will evaluate your case. If your situation warrants it, they will bring a lawsuit against the offending debt collector.

Learn more about the Fair Debt Collection Practices Act – FDCPA – and how it protects you from debt harassment. Visit FairDebtHelpers.com for a free evaluation of your case by an experienced fair debt attorney.

Article Source: ArticleSpan

Originally posted 2011-12-22 04:39:20. Republished by Blog Post Promoter

There are times when a loan might suffice for paying off your debts, but there also are times when they won?t do well for that. It is all up to you, really; how you plan to spend your loans, what you plan to do with them. I would only suggest that you ensure that your life is better for it, and nothing less.

I would not advice that you take a loan to pay off your credit cards. As far as I am concerned, that is one loan to cover another, and you get to remain in the same rat race. If you will take a loan, be sure it breaks you away from the race, not dig you deeper into it. When taking out a loan, you might be required to list your assets, and also provide the reason why you need to get that loan. You must convince the lender to bet on you. When they do is when you get paid; not a certain.

What your loan will be used for should be determined well before you even apply for it. It would be irresponsible for it to be in any other way, unless what you are looking to do it actually bury yourself deeper in debt. I?m certain you can understand that.

Loaners need borrowers to remain in business. The fact that the United States sports so many loaners tells us that a lot of Americans also are borrowers. It makes me think that the industry is not going anywhere anytime soon.

Thinking about it will not get you anywhere; only decisive action can take move you forward. Taking a loan is a decisive process, and if you are still thinking about it at this time, you should stop already because you obviously don’t need it. If you did, you?d have the money in your account already.

If you need free money fast or want to become debt free today then you have come to the right place for that information. Feel free to check out our blog for the most up to date information on debt management and borrowing the money the right way.

How To Eliminate Credit Card Debt

Originally posted 2012-06-27 22:40:20. Republished by Blog Post Promoter

Over-bearing debt from credit cards is a dilemma that confronts a large percentage of individuals in the marketplace today. Using consumer credit cards can seem like a good idea when you initially get that offer in the mail. Having a borrowing limit that seems miles away, it’s easy to excuse that first shopping spree, or maybe buy that HDTV you happen to be eyeing. But a lot of us don’t bother to deal with aftermath of choosing to utilize credit cards over cash right up until it is too late and we are already sinking in unsecured debt. By then, it’s difficult to find the easiest way out. But learning about the best methods to get out of debt isn’t impossible. It’s not going to be easy, but it is feasible with some basic steps.

1. Balance Transfer Specials

If you find yourself holding five to six credit cards that are typically maxed out and you can barely afford to make the bare minimum payment, shifting the amounts to a single credit card can help to save you a huge amount of cash in over time. Since credit card companies are forced to continuously strive to compete in this global financial marketplace, many promote low-interest promotional rates on balance transfer offers, or even bonuses to get you to change to their company.

If you’re able to convert the account balances of your respective charge cards onto one card and then make only one monthly installment in contrast to five, the amount of money it will save you will be massive, particularly if you happen to be moving from a handful of high-rate credit cards to a solitary low-rate one. As soon as the account balances are successfully transferred, it is essential that you close your other credit card accounts, or risk racking up twice the amount of debt you accumulated to start with.

2. Do Not Make Just The Minimum Monthly Payments

Paying just the bare minimum payment demanded by your credit card company barely makes a dent in the monthly incurred interest, plus the principle and high account balances look harmful on your credit history even if you are making monthly payments when they’re due. It might not be possible to pay out double the minimum payments required particularly initially, nonetheless adding five or ten dollars on top of the expected minimum payment generally goes directly to the principle account balance and can reduce your debt much more quickly.

3. You Should Never Take Your Plastic With You

Anytime a credit card or two are conveniently tucked in your ladies handbag or billfold and it’s getting close to pay day, it really is enticing to pull them out for your restaurant bill or perhaps for happy hour with your coworkers. By keeping your credit cards safe at the house, you’re much less likely to use them.

Putting your credit cards inside a safe spot which is difficult to gain access to can lessen impulse spending. Try placing them in a sealed envelope, and then wrap the envelope with tape, or any other sticky material. They’re still there if necessary for an urgent situation, however it will take an effort to get them out. Some people actually deep freeze their own credit cards (quite literally) inside of a block of ice. These kinds of extreme precautions is probably not needed, but making them more difficult to access assures that you may think carefully before utilizing them.

4. Set up A Fun Budget

In the event that there are certain things available that have grabbed your attention that you really like, like a cutting edge phone or even a unique pair of athletic shoes, then try setup a savings plan for that product, as an alternative to instantly buying it using credit. Simply by putting aside money each and every pay day, rather than paying off a charge card bill plus interest, you can actually feel a sense of achievement.

By cutting back on impulse buys and leaving credit cards for the purpose of emergency situations, you’re likely to have money available should something unanticipated should happen. There’s no need to deny yourself the items you really want, but you should preferably try to save up some cash for them prior to purchasing. It won’t take as long as you’d probably believe, and you’ll feel better about yourself afterwards.

Consumer credit card debt is a significant problem facing huge numbers of people worldwide, and it’s easy to see precisely why it is typically so frustrating and aggravating.

Taking care of credit card debt responsibly by using these 4 tips can start the approach to utilizing good habits that let you use credit sensibly. Although it may seem unrealistic to manage at the start, paying down your credit card debt is not as challenging as it might seem. Simply by getting out from underneath the weight of overpowering your credit card debt, you can live a healthier and happier life.

Helpful Advice On Debt Management

Originally posted 2010-03-30 01:53:29. Republished by Blog Post Promoter

The stress caused from being in debt can be overwhelming for anyone to deal with. It is becoming more common for people to be living with debt today and the nation is feeling the pressure. With bills mounting and debt collectors calling, people are too scared to open their front door. There are ways to help solve all debt situations.

Contacting the companies you owe money to is the best step forward in helping with your debt situation, they may even give you advice on what you can do to make your situation better. Keeping in contact with them shows that you want to sort the problem out and they may be able to give you some helpful advice. This advice can help to give you a boost and help you take the next step to solving the issue.

Debt management is a good solution if you want to sort your debt problem out yourself, it is not a quick and easy process, it will require lot of hard work and determination from you. So how does debt management work? Firstly you will need to work out your monthly outgoings include everything, for instance – food bills, fuel or any other necessary items you may have.

When everything has been worked out, even if you still have money left, you need to work out what you are overspending on each month, it is vital that you are completely honest with yourself. If help is needed along the way, you can seek advice from a debt management advisory company. The company will help to devise a plan for you, however they can only talk you through it, that is where it ends, you will have to put in all the hard work and perseverance yourself. The knowledge you gain from this experience can help prevent you getting into debt in the future.

If you find that you have no money to play with at the end of the month and your income is not covering your debts each month, you will need to search for other solutions. There are a selection of loans to choose from. If you have a property or something of value, you could look at getting a secured debt consolidation loan. The borrower usually saves a lot of money with this type of loan, the interest rate is lower, because there is not as much of a risk to the lender.

An unsecured debt consolidation loan is normally given to people who do not have collateral to use against the loan, an unsecured loan is not as easy to obtain particualy if you have a less then average credit score. An unsecured loan normally comes with a high interest rate because they are more risky for the lender. This type of loan can still reduce your monthly payments considerably, it just means you would just be paying it back over a longer period of time

In Conclusion

Looking to obtain any type of loan should be taken seriously, if you can manage the debts by yourself, it will benefit you in the long run. Choosing this option can be very rewarding as, all the hard work you put in will have paid off and you can see the results. If you are looking to consolidate your debts with a secured debt consolidation loan it is vital to make sure you can afford the monthly repayments, if you can’t there is a possibilty you could lose your collatral.

Steve Smith writes for allaboutloans where we offer all kinds of debt help, from individual voluntary arrangements IVA’s to debt consolidation loans. Visit Today http://www.allaboutloans.co.uk

Article Source: ArticleSpan

Originally posted 2012-02-05 00:13:52. Republished by Blog Post Promoter

You’ve seen the ads, you’ve called for debt advice, and you’ve had many sleepless nights and decide that a debt management program is an answer to your prayers. Signing up for a debt management program will direct all of your creditors to stop calling, will cut your payments and outstanding by half, and magically erase your debt within 5 years. Or so the ads say.

When the bloom is off the rose and reality sets in, a majority of consumers will realize that their predicament is now much worse.

Typical Debt Management Programs will help you wipe out your debt. You will have to file bankruptcy to do it, but who really bothers with the fine print anyway?

There are a handful of different types of Debt Management Programs. The one advertised the most is Credit Card Debt Settlement.

The issue with most Debt Settlement Companies is that they over sell Credit Card Debt Settlement. The strategy itself can actually be very effective for consumers, but it should only be used in the right sets of circumstances.

Seasoned Credit Card Debt Advice to help determine if Debt Settlement might make sense for your financial situation.

1. You can no longer or barely afford to make your monthly payments.

2. You feel that an interest rate reduction or a credit counseling program is not going to provide enough relief to solve the problem.

3. You have met with a bankruptcy attorney and realized that you would not be able to file a chapter 7 bankruptcy.

4. You have a lump sum or will be able to save up enough money within a reasonable time (2 years) to settle your debts and satisfy your creditors.

5. You are aware that stopping payments to your creditors might result in court action.

6. Getting rid of your debt is a higher priority to you than preserving your credit rating.

7. You are willing to deal with creditor phone calls asking for money.

This is just some general Debt Advice to keep in mind when looking into Debt Settlement or other Debt Management Programs. The reality is that every debtor should have a professional review of their entire current and potential future financial circumstances. Things such as your age, your earning potential, your assets, your retirement savings, your future credit needs and much more, need to be considered.

Originally posted 2012-01-02 01:22:31. Republished by Blog Post Promoter


Trust Deeds


After you arrange a Trust Deed your Insolvency Practitioner is needed by regulation to put an ad while in the Edinburgh Gazette. It is in distinction to standard financial debt repayment schemes that happen to be confidential. Understandably, quite a few persons are terrified that close friends and neighbours will probably be capable to search out out about their finances and also the Trust Deed, which notion of social stigma is extremely challenging to shake.

However, there exists truly almost nothing to fret about.

The Edinburgh Gazette is really a very specialised bulletin particularly arrange to publish info and legal notices and it is actually almost nothing like an everyday newspaper such as the Moments or even the Day-to-day Mail. It. It really is revealed 2 times weekly and circulated to loan providers, persons performing while in the regulation business, libraries, scientists as well as other in identical legal and informational roles. Also, you will find a subscription to buy – now nearly ??ninety – which can be a great deal costlier than an everyday publication (and also a fantastic offer a lot less appealing!). It is not a little something you will discover casually lying about in waiting around rooms to get thumbed via or simply on the store shelf.

But imagine if an individual you realize did handle to obtain maintain of the duplicate? Unquestionably it will be considered a easy issue for them to search out your ad? Properly when they by some remote probability pay money for a duplicate they will be confronted with serious eye-glazing things! The Edinburgh Gazette is split into many unique groups collectively include hundreds of notices and commercials, as an example Parliament, State, Manifeste Finance, Providers & Economic Regulations, Exclusive Insolvency, Corporate Insolvency, Partnerships, Post & Telecom, Exclusive Legal, Societies Regulation, Ecclesiastical, Health, Planning, Environment, Water, Energy, Agriculture & Fisheries etc. In each individual of these groups are sub-categories of notice type and that’s where they would have to particularly look for notices about Protected Trust Deed.

Unless it is actually your job to keep up along with the legal and money notices about Trust Deeds, it is actually very unlikely anyone will bother to trawl via the Edinburgh Gazette looking for your info. It can be even a lot less very likely that one particular of your family or neighbours would bother to obtain a subscription around the off-chance info about your finances might appear in it.

So How Considerably Details Do The Adverts Reveal?

It can be understandable you could be concerned about how a great deal info the ad might include about your money difficulties, but they in fact include a great deal a lot less than you think. There is certainly no info about the amount of financial debt or even the reason behind why you have Trust Deed, the ad follows a quite general form. All the ad is performing is letting your Creditors know what is happening and that they have 5 weeks to submit a claim to the Trustee for non-payment of your debts. Whenever they do not do so inside 5 weeks and your Trust Deed becomes protected, they lose the right to pursue you for the financial debt when the Trust Deed is running.

The Adverts Follow A Incredibly Equivalent Format Virtually Identical To This:

“Trust Deeds are already awarded by Trust Deeds Scotland, Scotland, and previously residing at [your previous address], and previously residing at [your previous address], on [date the Trust Deed was set up], conveying (to the extent specified in section 5(4A) while in the Bankruptcy (Scotland) Act 1985) their estates to me, [name of your insolvency practitioner], as Trustee for the benefit of their Creditors generally.

“If a Creditor needs to object to the Trust Deed for the purposes of preventing them becoming Protected Trust Deeds (see notes below around the objections needed for that purpose) notification of these types of objection must be delivered in writing to the Trustee inside 5 weeks in the date in the publication of this notice while in the Edinburgh Gazette.

“Notes: The Trust Deeds may perhaps turn out to be Protected Trust Deeds unless throughout the period of 5 weeks in the date of publication of this notice while in the Edinburgh Gazette a majority in number or not a lot less than one particular third in value in the Creditors notify the Trustee in writing that they object to the Trust Deeds and do not wish to accede to them.”

Not the most riveting of commercials is it! And it is actually not very likely to draw a great deal attention from anyone other than your creditors.

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

So, what is the best debt consolidation company available to those that are in dire need of the help of such professionals? This question is can be a difficult and complex one to answer because there are so many companies out there. It would be impossible to catalog them all and to determine which one is the best.

And really, the "best" debt consolidation company is one that can effectively handle your case and deliver a reliable and expected outcome. That means when you look for the best debt consolidation company, you will want to look for the service that is reputable, reliable, and delivers on all its promises. This means you need to perform a little research first.

Here is a tip that may prove helpful when seeking the best consolidation company. Look at where the company advertises. Does it advertise on a major radio program or television network? Has it been a sponsor for a long time?

If the answer is yes on both counts, this might be a decent company. There is no guarantee but most reputable media outlets will steer clear of dealing with advertisers that are a scam risk. It would just be too embarrassing to them to have such a problem on their hands.

And speaking of scams, it is best to look over the Better Business Bureau (BBB) index to see if any complaints have been filed. While even decent companies will have some complaints (you can’t please everybody), it is the number of complaints that matters.

Any company trying to credibly claim it is the best debt consolidation company in the industry will not be one with a high number of BBB complaints against it. Steer clear of such services because they might prove to be far more trouble than its worth.

Running a check of the debt consolidation service’s name in the search engines is another way to see what others are saying about it. If there are a ton of negative sentiments and complaints about the company, it is probably best avoided.

On the flipside, if there are a number of positive statements made about a particular service then it may be one well worth looking into.

The terms and conditions that the service puts forth need to be examined to ensure they are honest and fair. You certainly would not want to sign on with a debt consolidation service that presents difficult terms and conditions.

The same can be said of those debt consolidation services that charge outrageous fees or operate in secrecy. You want to stay away from such less then reputable companies when seeking the best debt consolidation service.

There are a number of excellent services out there that can help you consolidate debt and in a manner that will not prove too difficult. The best debt consolidation company for your needs is out there. You just need to find it.

Need to restore or build credit fast? Discover what banks, credit bureaus and other creditors don’t want you to know! Now check out the top rated credit repair programs at: http://aboutcreditandrepair.com/credit-repair-programs.php David Kamau offers free credit repair tips and strategies at: http://aboutcreditandrepair.com

Article Source: ArticleSpan

Guidelines for Avoiding Personal Bankruptcy

Originally posted 2012-07-19 00:44:46. Republished by Blog Post Promoter

If perhaps you are caught within a phase of credit debt, bankruptcy can appear like the only way out. Financial troubles may well cause such a lot of pressure, and your possibilities may seem intricate and hard. But there exists a plan of action that can assist to get rid of your financial issues and help you to sleep at night. Declaring bankruptcy will help you get your life back on track to help you to begin making the most of it once more. There are actually places you can get support with consolidating debt.

It is actually usual that sometimes individuals will need assistance to adjust to new situations or to visit a substitute fiscal solution. If you turn out in the red, you must be proactive and make a change right away. The sooner you act in response to financial troubles, the quicker are going to solved.

The foundation causes of financial troubles are frequently personal budgeting problems. Financial disaster is not an overnight incident. Commonly, the procedure of insolvency is going to be because of spending too much money habits and surprising life changes that in time develop into larger problems. Many people today will see that personal budgeting before could have made it easier for them to keep away from their own present financial situations. Over spending is an extremely easy activity. Credit cards permit us to maintain our chosen lifestyle even though financial resources are running low. Loans permit us to have the things we would like now, as opposed to saving for them sensibly with time. Credit card limits are often added onto our personal loans, which will will start the vicious circle. Next thing we know, we’ve obtained an unmanageable quantity of financial debt on top of our bad personal budgeting habits.

Personal budgeting has invaluable benefits. It would be the only way to seriously take control of your cash, ensuring you’re always living within your means. Personal budgeting affords protection for crisis situations or when a life change develops or anything goes wrong. It is the ideal strategy to plan for and achieve long term objectives and requirements.



Here are some ideas for profitable personal budgeting.

1. Have an emergency fund.
Financial debt frequently originates from a sudden large cost such as a auto repair or even a medical expense. If you don’t have the cash you can naturally charge the price to your credit card. Having an emergency fund can help to keep away from credit card debt in these disaster conditions.

2. Only charge what you can pay for
Stay away from the error of utilizing a credit card to get items you really can’t afford. If you can’t manage to pay cash, you can’t manage to charge it. You can steer clear of credit card debt without difficulty by buying merely what you might manage to buy.

3. Pay your credit card by the due date and in total
If you want to hinder credit debt, be sure you do not overlook any payments and completely pay down the account balance monthly completely. That way, you will not carry a balance and this will stay manageable. You will probably reduce the pressure of whether or not you’ll be able to meet the minimum repayment because your credit card is paid completely.

4. Know signs of credit card debt
Understanding the signs of credit card debt is a vital part of preventing personal debt. Many folks will end up with credit card debt when they failed to realize they were on the way. If you understand the indicators early on, you can easily avoid going into personal debt overall.

Signals consist of:
• Using the credit card to fulfill basic requirements
• Transferring balances in order to avoid credit card installments
• Skipping payment of one credit card monthly bill to pay another
• Avoiding or ignoring credit card statements
• Charging higher than you repay

5. Avoid cash advances
Cash advances are amongst the absolute worst purposes of your credit card. If you’re employing your credit card to obtain cash out, this is often a powerful sign that there’s a problem with your financial situation. Work on improving your budget in an effort to develop an emergency fund and banish cash advances along with credit card debt.

6. Limit your quantity of credit cards
The more credit cards you’ve got, the more you may charge. Even people that have wonderful self-control may be lured by this type of great credit limit. Reduce the number of credit cards you hold to cut down on spending in order to avoid credit card debt.

Perhaps even those that have a good credit past and track record of personal budgeting can easily slip abruptly in to credit card debt. Unexpected situations could lead to a change in income, an unsatisfactory investment decision or perhaps a strike of bad luck. Good management of your capital may be a very helpful instrument when these kinds of occasions happen. Personal budgeting plus an emergency fund together with the other helpful pointers provided previously will do amazing things to your finances. It is very important to take action immediately responding to credit card debt, to help you overcome your economic pressures promptly.

Originally posted 2010-02-13 16:47:30. Republished by Blog Post Promoter

A prudent and logical approach for business borrowers is to investigate the viable options for reducing current levels of small business bank financing and commercial debt because of serious deficiencies with commercial banking services now available to small businesses. A growing number of business owners are seeking business finance advice about how to reduce small business debt and commercial bank financing.

In most cases, the commercial lending struggle with banks is not one openly sought by small business owners. The increasing inability of banks and other business lenders to provide adequate amounts of business loans and working capital financing has produced this practical outcome. In fact over the years most commercial borrowers have probably viewed their business banking relationships on a friendly and loyal basis. Massive changes are literally forcing small businesses to examine and revise their business financing strategies, much as seen with many other business practices.

Evaluating whether there are realistic alternatives to replace their current bank financing and commercial debt would be one possible outcome for business borrowers. Refinancing business debt with a new commercial lending source would be a normal and practical result. For one example, exploring business financing options to obtain working capital financing elsewhere would be smart for a small business with a commercial line of credit that is about to be eliminated or reduced (as is now happening on a widespread basis).

It will be wise to explore small business finance alternatives even in situations where business owners are not being forced to acquire a new source for their commercial loans immediately. Very little notice has been provided to impacted commercial borrowers in most recent examples of banks which have revoked existing small business loans.

Small business owners analyzing whether it is feasible to permanently reduce commercial debt and small business bank financing is another effective business financing option. With this approach, commercial borrowers would focus on reducing their overall business debt rather than merely finding a new home for their small business loans. When done successfully, this strategy permanently decreases interest expenses for the business. It will probably also improve credit ratings for the business and the business owners, and this can improve interest rates on whatever amount of business financing might still be needed.

The strategy of permanently reducing business debt is one which is likely to grow in popularity for commercial borrowers. There is a refreshing trend among individuals as well as businesses to stop using the services of companies which mistreat their customers on an ongoing basis. As reflected in a review of a wide variety of publications, such mistreatment unfortunately appears to be common with small business lending providers. Since this disturbing trend is especially evident among larger banks, one small business financing option that deserves to be thoroughly evaluated is whether it is feasible to simply find a better and friendlier (and more effective) commercial lender. Certainly it seems that a worthy goal would be ensure that small businesses find a good (effective) bank to replace a bad (ineffective) bank to the extent that they find that they still need some bank financing.

Stephen Bush and AEX Commercial Financing Group provide help for working capital loans and small business finance programs: http://www.working-capital-journal.com

Article Source: ArticleSpan

 Page 3 of 21 « 1  2  3  4  5 » ...  Last »