PEOPLE would often consider the banks as a depository institution, limited to the function of being a place where we can keep our money safe. Seldom do we find people whod consider investing their money in banks because of its small interest rates.Banks, regardless of whether it is a commercial bank or a thrift institution, usually offers 3.5 percent for a five year tie-up arrangement or two percent per annum at the most.Because of the banking...more
INCURRING debt is a normal thing in a place that is hit and adversely affected by global recession. To some, it is unavoidable. Indebtedness however should stop at some point.In the United States, Americans seemed more apprehensive over their growing debt, which includes car payments, mortgages, credit cards among others. They seemed unable to get themselves out of the growing debt burden, which eats up a significant part of their resources. At...more
WHILE most of us would want to get out of a debt mess, there is actually a lucrative business whose business is to buy debt. While collecting somebody elses debt is already in itself a big business, buying debt is a much lucrative scheme. There is however a need to emphasize that in this type of business, the bigger the potential, the higher the risk.Lending firms and individuals, who find it extremely difficult to collect from people of entities who borrowed money from them, often seeks the help of the collecting agencies if only to be able to recover their resources. Getting collecting agencies to press payment from somebody who just wont pay up for his or her borrowings is no guarantee however that hed be able to recover the entire amount that is owed from him.Revenue termsIn the United States, collecting agencies negotiate for a percentage over whatever amount is collected. There are however some instances when a person in dire need of a collecting agent caves in to a 50-50 sharing agreement, especially when the account is deemed as bad debt. Bad debt is a banking term for collectibles with very small possibility of being collected. People who consider their money gone to bad...more
ANNOYED with calls from debt collecting agencies? Pressured perhaps or threatened? People who have accumulated obligations that have been remiss often suffer from frequent calls to pay up. Collecting agents would always have a good reason to believe that what they are doing would help in their bid to collect unpaid dues in behalf of a client.Why...more
In the present competitive financial market it really seems to keep your worldly personal desires of buying a car comes alive. You may have tried to fulfill those, but due to insufficient fund you failed. But dont get frustrated you will get a chance again and easy auto financing will help you to do it. This can be found with a car...more
BORROWING money for valid reasons at a time when it is most needed isnt actually a bad idea. Most of us would agree that it is the most logical thing to do, especially during emergencies. But how do we really keep ourselves away from debt mess?Spending within meansKnowing how much you have is very important. The truth is many of us have lost track as to how much we have. That way, we would be cautious against spending over what we actually earn. Living beyond our means brings us on the verge of indebtedness.It is equally important that we have an idea as to the rough estimate of our monthly bills. Pay bills on time so it wont accumulate. Anything that is left from will have to be just what we should spend. It doesnt really matter how little is left. It is just a matter of budgeting.If what remains of the total payables may not seem enough until the next payday, it is a must that you find other means, other than borrowing. We could consider part-time jobs.For credit card holdersFor people using credit cards, it is must to be aware and knowledgeable of their terms and conditions. These credit card companies have some clauses which may adversely affect ones finances, unless you know...more
ACCUMULATED unpaid dues hurt, especially if acquired through credit cards. People wanting to get out of debt mess are strongly advised either to stop using credit cards or to at least see to it to pay whatever is charged to your account at the end of...more
AMERICAN people, who are drowning in the sea of debt, have found a potential road out of indebtedness. The road however does not come in as free. Every single dime of your debt would still be paid from your hard earned money. The only good thing...more
If you're an entrepreneur and you plan on getting funding assistance for your business, one option you may consider is a term loan. In this article, we'll discuss the basic points about term loans for small businesses.Business startup financingWhat...more
Are you wondering if it is a smart idea to roll over your 401k plan into an IRA? Everyone's situation is different and there are many things to take into account but for many of the families I talk to the answer is a resounding Yes. Why? There are...more
Would you like more control of your finances? The first thing you'd need to do is to actually create a plan. And then, you need to keep your goals and purposes in mind as you invest. But that's just the beginning. Read on for two more of the six key...more
Knowingly or unknowingly, the public is trying to accumulate wealth in a financial system that is rigged against them. Hopefully, the events of last year's market crash and the ensuing bailouts have shown the public how the they are repeatedly...more