Category: Debt

Debt Management Leads – Need of The Hour Seek The Help of a Pro!

Posted by admin on September 17, 2015

One inevitable factor is the changing market scenario. This means,
one should be prepared to ride the financial rollercoaster, not to miss
the rising inflation. The increasing inflation coupled with higher debts
leads to a financial crisis, one that many people in the UK face. Based
on statistical report from 2010, nearly 58% of the people in UK who are
in dire need to minimise or close their debts, turn to their friends or
relatives for help. However, today more and more people are seeking
professional help thereby leading to a rise in debt management companies
across the country. Two years ago, Mintel estimated the total number of
debt management plans to be somewhere around 600,000 with around 9
billion funds under management. This clearly states that market is
growing rapidly bringing us face to face with yet another challenge;
albeit a different one.

As mentioned above, many people still resort to
informal sources for help. Convincing the lot to turn to a Debt
Management Company for alleviating the crisis is the challenge. Mass or
bulk mailers will not help. So what will? ‘Qualified ‘debt management
leads’ is the answer! PPI reclaim leads or debt management leads that
have been verified and screened will help debt control companies reach
their prospects with more ease and efficiency. On the other hand, people
who are willing to seek professional advice will have help knocking at
their door instead of the other way round. This connection is best
established by a professional PPI reclaim leads provider.


Typically, debt management leads are generated involving tried and
tested multi-tier process that ensures a high conversion rate. Let us
take for example PPI reclaim leads. Data are collected with the help of
surveys conducted by a team of trained executives who pose some basic
question that qualify the lead.


“Do you have a minimum loan amount of 5000 taken in the last 6 years on
which you have payment protection insurance? If answer is Yes;”Do you
wish to be contacted by a debt control company?

If the answer to
both the questions is YES, they further collect the lead’s personal
information like name, address & telephone Number. The leads are
further audited for quality in terms of accuracy and completeness of
data. Some providers also include bespoke questions like “Do you possess
unsecured debts in the range of 5,000 and 15,000 liable to 2 or more
companies and are seeking professional help?” This helps to focus on a
specific target group. For more information on home insurance renewal
data or PPI reclaim leads please visit http://www.silverbirdmarketing.com.

A Collector Calls You About an Old Debt – What is The Solution

Posted by admin on September 9, 2015

Problem:

I
was severely ill for several years. I could not work for medical
reasons. I had a few debts. The debt amount was more than $100,000. It
was not possible for me to pay off the debts because of shortage of
funds.

I filed bankruptcy to get rid of the debts. I filed
bankruptcy on 20th March 2000. I received bankruptcy discharge on 24th
July 2000. I was relieved to know that debts were finally paid off.

I
received a collection call in the last week. The debt collector told me
that I owe $5480 on a certain account. When I told him that all my
debts were discharged through bankruptcy, he flatly refused to believe
me. He told that this particular account was not included in bankruptcy.
I am at a loss. I live on Social Security pay-checks. What can I do in
this situation?

Solution:

A debt
collector can call you regarding a debt. He can call and claim that you
owe around $50,000 to them. This does not imply that you’ll pay $50,000
to the debt collector. Rather, you should ask the debt collector to
validate the debt in writing. As per the federal laws, the debt
collectors are required to prove that the debt is legitimate within 5
days of initial contact.

When
the collector will validate the debt, he’ll have to specify the debt
amount and the creditor’s name. The collector also has to state in
writing that you’ve the right to dispute the debt within 30 days.

If
you get a call regarding the debt yet again, then ask the person to
reveal his identity. Ask the person to state his name and the contact
details of the collection agency. Note down the information on a paper
and send the request for a validation letter in writing. If the debt is
really too old, then I don’t think that the collector will be able to
validate the debt. He has most likely lost the relevant documents.

The
collector has less chance to collect the debt. There is a simple reason
behind it. The debt is 12 years old. It has most likely crossed the
Statute of Limitations period in your state. This means you’re no longer
legally responsible for the debt. The collector can’t file a lawsuit
against you with the help of an attorney. In such a circumstance, you
don’t need to take any steps to make payments to the collector.

If
the debt was within the SOL period, then I would have advised you to
take advantage of the debt plans and pay off the account. However, the
situation is completely different in your case. So, you can very well
tell the collector that the debt has crossed the SOL period in your
state and you don’t have any inclination to repay it.

Finally, if
you’ve no problem, then inform the collector about the source of your
income. Tell that you’re living on the Social Security pay-checks, which
can’t be garnished by any means. If the collector pays no attention to
your words and calls you every other day, then just don’t pick up the
phone.

Debt Management Tips – Balance Transfer Cards And Why You Should Get One

Posted by admin on September 8, 2015

If you’re one of the many people out there living under a pile of
debt from old, unpaid credit card bills, you need to act fast and
resolve the problem before collection agencies start calling you and a
debt collection lawyer in California files a case against you.

The debt you need to pay off covers the original
price of the item and the interest that comes along with it every month.
With each month that the bill goes unpaid, its corresponding interest
will also become higher and higher, hence why you will end up paying
more if you have overdue bills.

Balance transfer

To
stop a growing credit card debt, people often go to banks and ask if
they offer cards that have 0% promotional APRs and allow balance
transfers. Basically, this card pays off the existing credit card
balance by transferring the amount to the new card. Since the card has
0% APR for a certain time, it keeps the balance from growing.

The
cardholder will, however, be charged with a one-time transfer fee,
which is usually around 3% to 5% of the balance. Card holders have to
pay off a minimum fee every month, like all other credit cards, and can
use their balance transfer card as a regular credit card and charge
purchases on it.

Save money

First,
it’s important to understand that you’re looking for a transfer card
because you want to fix your credit problems and get rid of your
existing debt. You have to create a plan that will focus on minimizing
expenses, maximizing how much you make, and making sure that you
regularly pay your credit bill and aim to finish it off before the
balance transfer card’s promotional APR ends. You can also save a lot of
money with promotions that these balance transfer cards offer. Some
balance transfer cards will give you no transfer fees for the next few
months, which means that your debt is not going to grow if you transfer
it to the new card within that certain amount of time.

Save your credit score

Your
credit score has already taken plenty of damage from your previous
debt. Late payments will give you mark downs and will negatively affect
your credit score. It will become worse when you have a case from a debt
collection lawyer in California. By transferring your debt to a new
card and making sure that you pay off your monthly dues, you’re in a
better position to rebuild and repair your credit score.

Seven Steps to Hassle-Free Business Debt Recovery Management

Posted by admin on August 24, 2015

Every business outfit in Australia has its standard terms and
conditions for credit. This document is similar to a sales contract, but
includes provisions for when the buyer fails to pay his or her business
debts. In essence, there are seven ways that businesses can strengthen
their terms and conditions for a smoother business debt recovery
process.

Clearly Identify the Parties Involved in a Business Transaction

When
giving credit to a customer, you should state whether it’s a
partnership or a sole proprietorship. Get the real names of the persons
who entered into the partnership agreement or the full name of the sole
proprietor. Find out if the business or company exists by searching for
its Australian Company Number (ACN) at the Australian Securities and
Investment Commission (ASIC) website. You can also search for its
Australian Business Number (ABN) at the Australian Tax Office personally
or through the ABN Lookup page (abr.business.gov.au) of the Australian
Business Registrar.

Seek Guarantee of Payment When the Customer is a Company

To
be sure that your business client pays, do some investigative research
into the company’s solvency. A business whose history shows a continual
struggle to stay afloat will not be a good debtor to you. Nevertheless,
if the company looks stable, you’ll still have to ask its owners or
Board of Directors to provide you with a signed guarantee. In case the
payments get delayed, the guarantors are responsible for paying the dues
during the business debt collection process. Also, check for other
valuable assets that the company or its guarantor probably owns; lands
or other business outfits can serve as collateral in case the company
defaults on its financial obligations to you.

Let Your Outstanding Receivables Earn Interest for Your Own Good

Accruing
a yearly interest on unpaid debts is part of a good debt collection
policy. If it were kept in your bank account, then you’d have earned the
same amount of interest on it. As it is being used by other people,
you’ll have to calculate at most 10 to 15 percent interest per annum
over the principal amount owed to you. That seems like a reasonable rate
for overdue accounts.

Define Who Retains the Title Over the Existing Goods

If
you’re a supplier of goods to your business client, then you should
stipulate an arrangement on who owns the goods during the time when the
customer hasn’t paid the amount due in full. As the supplier, you should
be able to claim ownership over the remaining inventory in case your
customer suddenly declares bankruptcy. Since October 2011, the Personal
Properties Securities Act 2009 requires businesses to register title
rights, leases, and equipment hire arrangements as securities.

Include a Provision to Stop Supplying Products or Services to the Customer

Simply
calling a halt to provide raw materials, manufactured goods, or
commercial services to a non-paying customer may cause too much trouble,
not only to your client, but also to their individual customers. The
public outrage is enough reason to tread carefully over this section.
This is especially true for suppliers to restaurants and grocery stores
where ongoing arrangements must be fulfilled to keep the consumers
happy.

The best thing that suppliers and merchants can do, in
this case, is to agree on a specific period and course of action. Let’s
say, your customer’s failure to pay up the full amount within two weeks
after the debt’s due date shall result to a reduction of supplies by
half in the first week and a complete stop to all supplies on the second
week. This way, you gradually pull out the plug to the flow of goods
while giving your customer enough time to pay what is due.

Recover Legal Costs from Suing Your Errant Debtors

Most
commercial debt collection agencies, like JMA Credit Solutions, assure
their clients that they’ll do everything they can not to let the
situation get out of hand and bring the debtors to justice. However,
it’s unavoidable that you may have to sue one or two of your errant
debtors to recover your investments. This means you’ll be spending more
on lawyer’s fees and filing those cases. Include a stipulation that the
customers found guilty of defaulting on their financial obligations must
also pay for your legal expenses.

Specify the Jurisdiction of Your Claims Against a Non-Paying Customer

This
last section is most useful for business that operates online and deals
with customers from all over the world. Specify that whatever legal
action you decide to take shall commence in the courts of your preferred
territory.

These seven steps must be implemented before your
company even starts doing business with clients. Make sure you already
established strong measures in your debt collection management policies.
These measures may include hiring a third-party agency, such as JMA
Credit, to recover bad debts for you. This saves you time and energy in
collecting old unpaid debts and lets you focus on current ones.

Beneficial Debt Management Advice For Debtors Having Huge Debts

Posted by admin on August 12, 2015

It is really an irritating and stressing situation to live in debts.
If you are also in loan like situation and want to get out of it then
very first you should agree that you have debts. Proper debt management
knowledge and skills can help to get out of debt early. Financial
education is quite essential in present days for everyone to manage
debts and personal expenses in adverse financial situation. In present
economy demanding world, only sound financial knowledge can help to live
a financially free life.

Get Expert Advice and Help:


If you have heavy debts that you are unable to manage due to poor
economic situation, low income sources and heavy expenses then it is
better idea to seek professional’s advice. Several alternative repayment
options are available in present economic market which can help to
manage finances based upon your repayment ability. There are
professionals loan managers who have helped several individuals to get
out of debt. Selection of right repayment option is quite essential for
the success of the plan. Debt consolidation loans, debt management plan,
debt settlement etc. are informal alternative repayment options which
can help to avoid bankruptcy or other insolvencies.

If you think
you are in serious finance like situation then very first you should
try to manage your money using an efficient debt management plan with
the help of an expert finance consultant. It will help to get out of
debt as early as possible. Experienced and professional loan experts
having detail knowledge about debt repayment options can help to avoid
the trap of finances. Right professional advice will also help to manage
financial situation as well to avoid legal problems.


Fully trained and qualified finance consultants are available in market
from which you can get advice to manage present economic situation and
to make a fresh start. In some extreme financial situations where
informal repayment options are not fit for your financial situation then
you may also require moving towards insolvency or bankruptcy. However,
bankruptcy provides you a chance to make a fresh start.

If you
have huge finances then you should take essential steps today. If you
avoid your loans today then further it will become quite difficult to
get out of debt. Expert finance advice can help to find proper way to
manage broken financial situation but any information can work for you
if you seek it at the right time. Budget expenses are quite essential to
improve broken financial situation. Try to improve your income sources
and avoid taking any new credit for proper debt management.

How Will You Use Mortgage For Debt Consolidation

Posted by admin on August 2, 2015

You may number of loans and multiple numbers of debts and this has
sum up due to various reasons. With debt consolidation loan, you can
reduce your overall payment and guide your payment in an effective way.

Debt consolidation is a simple technique and it is
able to bring all the loans under a single umbrella. Many people like
you think to leverage your loan through mortgage and trust it, is indeed
the easier method to get rid of debts.

There are many benefits
if you look into debt consolidation loan, but there are four major
benefits, which are discussed below. Let us look into it:

Interest rate makes a difference

Debt
consolidation company ensues different types of loan and among them the
loan they issue are at low interest rate. The basic idea is that you
are moving all your debt into a particular location and hence you need
to restructure and re-configure your existing loan. If you are going to
consolidate your loans then remember that low interest loans are far
better than new interest loans. However, these is not the case for all
loans, as new loan stretches over a longer period and hence reduce
repayment making the loan easier and manageable.

Why will you a mortgage to secure debts?

Loan
options that are available to you are to consolidate your loan using a
secured consolidation loan or an unsecured consolidation loan. When a
lender is getting security over the amount he is going to lend to the
debtor and a better interest rate then he is sure to lend. Both these
features combine together to get best returns while you think to
consolidate your loans. At times this may also restrict you from
obtaining a debt consolidatio0n loan altogether.

Simplicity offered by the debt consolidation company

Benefit
is doth lying there in debt consolidation otherwise people all over
would not have thought to opt for it. Debt consolidation company is a
true guide who with simple techniques manages all the loans. As debt
consolidation loan brings all your debts under a single loan so you are
able to keep up with all types of loan agreements. Paying one lender
with one interest is better than paying many with varying interest
rates.

Drawing conclusion

Bringing all
your loans under a single loan is undoubtedly the best way to make your
life easier and simpler, debt is not a fun element; however debt
consolidation always allows you to manage your debt more effectively and
take vehement control over it. Debt consolidation company allows you to
lower all your monthly payments and let you get experienced from having
all the convenience at one single place.

Consolidation of loans
with their help of mortgages is no doubt a unique way and is even better
than any other techniques you may have thought about. It is able to
bring all your loans together under one roof and find out what is right
for you. for further assistance you may sought help of any reputed debt
consolidation company to sort out o=your debts in a professional way.

Debt Elimination Most Effective Way to Become Debt Free

Posted by admin on July 23, 2015

Most households find debt as a major financial concern nowadays.
There are many reasons why people took loans and because of the
financial problem in recent past, most of them found repayments
unmanageable. As a result, most of them got into debt and some went deep
down finding it extremely stressful and out of their control. The main
problem is that people live from paycheck to paycheck. So, when debt
accumulates and one has to make arrangements for more installments, they
feel overwhelmed. However, debt elimination should be the first
priority in this stage so that you achieve financial independence.

Although debt elimination is a term that many of you
must have come across, it becomes difficult to organize and find out
where to start. Well, the first thing that you need to do in such
situation is to acknowledge your debt. In fact, when someone is not used
to financial hardship, he feels embarrassed and uncomfortable. Some try
to ignore the issue and hope that everything will be all right by
itself. But, in reality to normalize any situation, you need to focus
and work out a solution.

Once you take the decision, you need to
prioritize and for this you need to make a list of the bills and find
out how much you owe. When it comes to debt elimination, you should pay
the highest interest rate bills first. Work out an installment that fits
in your present budget and make it the highest so that you get rid of
the debt as soon as possible. You can also contact the credit card
company and find out whether they can lower the rate of interest to some
extent or not. If you have been paying the bills on time in past, they
might consider your financial condition and customize the rate of
interest.


One of the most important things that you should keep in mind is to
reduce your spending habit. Make a list of essential and non-essential
things and then stop spending on the latter ones at least for some time
so that your debt gets cleared. Try not to use your credit card for
sometime because this might lead you to more trouble. Last but not the
least suggestion is that if you find things overwhelming, take
professional help so that debt elimination could be done more
efficiently and you get desired and better results, for sure. They can
work out solution to make you debt free.

Advantages of Debt Counselling Advice

Posted by admin on July 16, 2015

The deluge of heavy debts is a disturbing issue and needs some
foolproof solution to get out of it. Looking for a debt counselling
advice at such hard times is the only option left to the bill or and the
step towards it should be immediate. The debt counseling professionals
offer their services to help out at the times of severe bill conditions.

There are several benefits of arrear counselling offered by the professionals. Some of them are:


The debt counseling professionals try to merge all the bills into a
single loan plan. This is a great advantage that reduces a stress of a
arrearsor and create a bunch of loans into one to repay it for a longer
time.

Just a single payment in a month’s time has been the
requirement of the arrears counseling companies and they look after the
needs of your creditors, every month and pay to them on the behalf of
the debtors.

They are professionals in the field of arrears
counseling and are well-versed with the credit market scenario. They
know the guidelines through which they can convince the creditors to
reduce the rate of interest of the loans.

The professionals who hold higher experience in the field may also help you in reducing the amount of your loan.


One of the very important aspects of counseling advice is that a billor
gets free from the inconveniences caused by answering the creditors
often. Counselors look into the situation and offer a sigh of a relief
to the billor from answering the creditors.


Debt counseling companies offer the repayment facility of the arrears
for a longer time and it helps to split the debts into longer periods
and hence, the amount of the repayment that has to be done every month
gets reduced.

They are the best guides to help you to get clear out of the debts and offer better solutions than filing for bankruptcy.


There are several companies offering their services in counseling and
charge a certain amount for their services. It is the duty of a debtor
to learn about their charges before hiring them. Ultimately, they are
the people who will offer suggestions to help the debtor to get free
from the unnecessary burden of account. The debtor must have enough
money to pay to these companies for acquiring efficient debt settlement
measures.

The reliability and experience of any debt settlement
company count and hiring any account advisor without complete research
may land a debtor into a wrong place. A account counseling company that
saves you from the situation of getting bankrupt is the company any
debtor actually needs.

There are many debt counseling companies
offering their advice on UK debt solutions. The lack of debt management
can be the reason in certain cases for a person to become a victim of
heavy accounts. Any good UK debt solution provider will offer the best
debt management advice along with the credit card account management UK
to protect you from the state of getting bankrupt.

There are
many debt relief options and a debtor must not delay to consider the
help of debt relief companies for the quickest solution.

Things to Know About Debt Advice And Consolidation

Posted by admin on July 8, 2015


What we will be talking about here are things you should know about
when gigantic debts are bearing down heavily upon you. In these cases
you can get debt advice for debt consolidation. Debt consolidation is
the methodologies for managing very big loans or loans that you can’t
pay off. If you cannot pay off creditors then you should be considering
taking debt advice for the consolidation. In the consolidation process
the consolidator will pay off creditors for you. However you need to pay
the consolidator monthly after that. The advantage here is that you
will be paying less than you are paying but over a longer period.


If you are considering this: You definitely will not want to keep your
projects incomplete after taking a loan. If you finish your project
before time you will incur fees and charges for early completion. Do not
forget to include these charges in your consolidation plans. After you
get the exact figure that you have to repay and how much you have to
repay and balance it out according to income and expenditures. Figure
out the amount you need to pay off each month. In these procedures
taking debt advice will help you understand whether debt consolidating
will help you in any way or not. Debt advisors will provide advice on
how to increase income and decrease expenditure as well.

When
going under debt consolidation you will also have to consider what kind
of consolidation you will be going for. This also an area where you will
require proper debt advice. If you are going for consolidation from the
banks or a society you are most probably going for consolidations that
are highly insecure. It will not require you to put properties against
it but these kind of loans are always going to charge high rates of
interest. You will need to look for more secure solutions. If you go for
debt advice you will get better help searching for companies that will
provide you better debt consolidation at really competitive interest
rates. These are things that will probably bring you Business back from
the brink of bankruptcy. The thing with these secured options is that
you will need to put some properties against these arrangements.
Consolidation is again a step you need to take when you are sure that
you can pay back all that you have borrowed or you might lose
everything. That is why you need to get appropriate debt advice when you
go for debt consolidation.


The is that the process will take the pressure off you and you will
have to make monthly payments at reduced rates. A great part of the
arrangement is that you will be free of multiple creditors and you have
to deal with a single creditor only. However remember that you will have
to pay for a longer period and there are additional processing charges
for the loan. In cases where you go for secured loans your property is
in danger.

A Debt Free You

Posted by admin on June 16, 2015

Cash. Money. You. No Debt.


Imagine what it would be like to be debt free. I’m talkin’ no credit
card balances, no student loans and no mortgage. Nothin. Just money in
the bank. And you have assets that produce income to cover your monthly
nut. This is possible. Really. It’s probably a long way off but with a
real plan, you could have this.

The first step is getting out of
credit card debt. Ahhh . . . The feeling of having no credit card debt.
It’s such a good one. Seeing those zero balances on all of your credit
cards will make you feel like a million bucks!!! Gangnam style!

Can we get to work and take care of this pah-leez!!! It’s totally doable. Here’s the plan.

Step 1 – Take a deep breath!

Step 2 – Identify how much debt you have. Write that number down. The real number, not a ballpark number.


Step 3 – Create a working monthly budget. Get clear on what your
monthly living expenses are. I have gone through more than 100 financial
plans with clients. The 3 most common areas where spending can get out
of control are: shopping, eating out at restaurants, and travel. Don’t
get me wrong. I love doing these 3 things. But they have to be done
within reason. Instead of using your credit cards for these 3 things,
use cash or your debit cards. Literally put the cash in an envelope and
use it only for these 3 categories. It will force you to stay on track.


Step 4 – Write down your after tax income. Take this # and subtract
your living expenses. Now you know how much additional money you can
save towards paying off your debt. Lets make it happen right here.

Step 6 – Pay off the debt with the highest rate first.


Step 7 – Call your credit card company and ask for a lower rate. See if
they have a special offer or can work with you on this. Ask for a
supervisor. Be nice. Give ’em the cream and sugar treatment.


Step 8 – Consider a balance transfer to another credit with a 0%
introductory rate. If you have more than one card with a balance, see if
you can transfer all of your debt to one single card.

Step 9 –
Make more money too! If you are an employee, ask your company/boss what
you can do to earn more money. See what additional responsibilities you
can take on. Call a headhunter. See what else is out there! If you’re an
entrepreneur, watch this video. Better yet, come to my next live event
in Los Angeles where I will give you 7 ways to grow your business
revenue. Don’t spend the additional money you make on a pair of shoes
for $400. Use it to pay down your credit cards.

Step 10 –