What to Look For in an Ideal Debt Collection Agency?
By Jason DeLeonardo
Debt collection agency collects payments for your overdue debts and maintains a harmonious relationship with the debt collectors. That's why it becomes the matter of utmost importance that you hire an agency that has a good reputation in the market. It is really difficult to predict any agency's success in managing aberrant accounts.
Indeed, finding the most suitable and well reputed debt collection agency is not a child's play. However, you may consider following points before hiring a debt collection agency to take care of your debt:
Experience: Choose an agency which is familiar with the industry practices and norms you are dealing with. For example if your business requires unusual collection techniques then ensure that your agency knows about it. Industry specific expertise is required for all types of student and government loans and medical accounts.
Coverage Area: There are many states that necessitate collection companies to obtain license before preceding any sort of collection process with the debtors residing in that particular state. So, to be on the safer side, ask your debt collection agency about the states they cover and how they deal with debtors residing in other parts of the country. Generally, agencies forward all the inaccessible accounts to the other local agencies if debtors reside outside their coverage area. That's why, ask the potential debt collection agency if they offer such services. This will not only save you from the trouble of finding out the collection agency that covers special states but will also cost you less.
Collection Methods: Verify letters and messages to be sent to the debtors and evaluate if they are effectual or not. Try to find out whether their debt collectors are well trained in calling debtors or not, in order to ensure that their means are chivalrous and professional enough.
Insurance policy: Find out if the agency is covered by Errors and Omissions Liability insurance policy. This policy can defend you in case a debtor moves to the court and files a lawsuit against you for alleged harassment. If the agency has an up-to-date policy, this means that they are careful and accountable for the business practices they use.
Skiptracing: It is a widely used term that refers to the process debt collection agency follows to locate the debtors, who have either moved out or can no longer be in direct contact. It is strictly required when collecting unsettled debts from individuals who keep on moving from state to the other.
If you would like to learn more about Debt Collection Agency please follow the highlighted links to my Debt Solutions Blog.
===========================================
Ways to Pay Off Debt - 10 Simple Steps Towards Debt Freedom
By Samina Jafary
Here's some free advice on ways to pay off debt and become debt free - DON'T GET INTO DEBT!! OK, so now that we have the basics out of the way, let's look at some practical solutions to help you climb out of the hole.
The concept of debt free living is much intertwined with frugality and living on a budget. One is almost the result of the other two. But in this 'buy now, pay later' society, it's very easy to get sucked into the trap and not realize it till you're already in it. If that sounds like you, it's time to look at ways to pay it off. Here are some tips to get you started:
1. Get help. Figure out if you need debt counseling, debt consolidation, debt settlement or just help with debt management. There are plenty of free resources if you look for them.
2. Make a plan to pay it down. Scrimp, save and cuto down but make it a priority to pay off that debt.
3. Stop spending more than you make. Understand that THAT is NOT an option! Debt is caused simply when you spend money before you earn it. Doesn't matter what the reason, justification or circumstances. The bottom-line remains, you spent money you didn't have and now you owe it with interest on it.
4. Create a budget and stick to it.
5. If you can't pay for it today, DON'T buy it.
6. Reduce expenses and use the extra cash to pay off your loans. .
7. Negotiate with your credit card companies.
8. Find ways to generate extra income which you can use to accelerate your debt payments.
9. Simplify your life.
10. Understand the difference between good and bad debt. Not all debt is created equal.
For more tips on saving, budgeting and debt management, visit http://www.simple-tips-on-budgeting.com, a complete online resource for all your household budgeting needs.
==========================================
How Can You Ever Get Rid of Credit Card Debt? Yes, You CAN!
By Philip P Wilson
Credit card debt is a plague that has sunk its poisonous talons into the flesh of unsuspecting consumers at an alarming rate of viciousness. Like many poor habits, it starts of innocently enough. You get a credit card with a low introductory rate and an easy payback ratio. You purchase a $100 dinner for your friends and you impress them not by pulling out the money from your wallet, but by flashing your brand new credit card (ooh, ahh the crowd swoons.).
When the bill comes a month later, the minimum payment is $5.00 and the interest charge is a mere $1 (the monthly minimum interest charge). Rather than pay it all off as you intended, you make the minimum payment. That was a big mistake. You continue to make the minimum monthly payments and after 5 months your balance is now down to $80.00. Then, you forget to make a monthly payment, or it is late. You are now slapped with a $39 late fee. Not only does your balance shoot up to $120, your monthly interest rate jumps to 22%. Ouch.
It doesn't always have to be that way. You must be wise in how you use your credit card. But there may come a time when you need to look for help in your quest for credit card debt elimination. Don't assume that the use of a credit card is all bad: used wisely it can help bolster your credit score meaning that you will enjoy lower interest rates when you borrow money for a car, a home, or anything for that matter. Credit can be used wisely and you can turn around your dependence on credit cards and the high interest and fees that they embrace.
When you do seek help, keep some points in mind:
• Look for a non-profit organization like Consumer Credit Counseling services.
• Make sure that they are endorsed by the Better Business Bureau (or at very least, they are no complaints registered against them).
• Don't go with a company that demands all of its fees up front, they get paid whether they actually help you or not.
• Seek the advise of others, in person, or online.
Good luck!
Phil Wilson
http://www.money-for-my-life.com - a source for helping people make money
http://www.money-for-my-life.com - a blog to help save money.
=========================================
Tips For Working Your Way Out of Debt
By Wolfgang O
Getting out of debt is very hard to do. But you can help yourself out by learning ways that you can save. Here are some great tips to help you get on the road to getting your debt lowered.
The first way to save is to look at your credit cards. If you have several you may want to get rid of a few. This will help you by not being able to buy so much on credit. You may also wish to look and see what the interest rate is. If a few cards have high interest rates, why not transfer them to ones that have lower rates? Then when the bill comes, you can pay off more on the card without having to write two or more checks.
Another great way to save is to plant a garden. Plant some potatoes, carrots, tomatoes, lettuce, green beans, zucchini, squash, corn, radishes, whatever you please. This will save you a lot at the grocery store. You will then be able to take the money you saved at the grocery store and pay off more on your credit cards, your car loan or house payment.
Go garage sale shopping. Garage sales are a great place to get items that you may want for super cheap. You can find dishes, pots and pans, clothes. This is especially great if you have children. It is a very inexpensive way to buy the clothes that your family needs.
Follow these great tips and you will be able to lower your debt by some. You will be saving money by transferring your credit cards to lower interest rates, and if you put in some extra work at a garden you can enjoy veggies for cheap. And wearing clothes from a garage sale is a great way to get new clothes without paying the steep price.
Learn more about strategies to Get Out Of Debt by increasing your income through debt-free Real Estate Investing.
=======================================
Some Bankruptcy Filing Options
By Peter Gitundu
Sometimes, there is usually a choice on what one can keep after the conclusion of a bankruptcy case. This is commonly referred to as the exemption scheme in which an individual chooses the items or assets they choose to retain. This is only applicable under the liquidation chapter and the debtor can choose the exemption scheme only when they have submitted a list of all the available assets together with an approximate value. Once this is done, through guidance, the debtor can choose what to keep or not.
Bankruptcy does not provide for the clearing of secured debts such as mortgages, alimony, child care or outstanding tax on a property. Under this law, reaffirmation is allowed. The debtor must reaffirm the asset in question only after he, under oath is questioned about his financial affairs in the presence of creditors and other involved parties.
Insolvency allows an individual, partnership or cooperation to file a petition under chapter 13. This is through making a payment plan towards the creditors within three to five years. Many of the people who file a petition under this law usually have those debts that chapter seven cannot wipe away. These could be mortgages on homes they would love to keep due to sentimental reason. They could also be child support and alimony or large amounts paid towards student loans.
In the case of bankruptcy, the debtor will require a stable amount of money after monthly expenses such as food, transport and other expenses have been deducted. Once the petition is filed together with a repayment plan, a trustee goes through it for flexibility and sends it to creditors to have it approved. If approved one can keep the assets.
Peter Gitundu Researches and Reports on Bankruptcy. For More Information On Bankruptcy Filing, Read More Of His Articles Here Bankruptcy Filing. You Can Also Add Your Views About Bankruptcy Filing On His Blog Here Bankruptcy Filing
By Jason DeLeonardo
Debt collection agency collects payments for your overdue debts and maintains a harmonious relationship with the debt collectors. That's why it becomes the matter of utmost importance that you hire an agency that has a good reputation in the market. It is really difficult to predict any agency's success in managing aberrant accounts.
Indeed, finding the most suitable and well reputed debt collection agency is not a child's play. However, you may consider following points before hiring a debt collection agency to take care of your debt:
Experience: Choose an agency which is familiar with the industry practices and norms you are dealing with. For example if your business requires unusual collection techniques then ensure that your agency knows about it. Industry specific expertise is required for all types of student and government loans and medical accounts.
Coverage Area: There are many states that necessitate collection companies to obtain license before preceding any sort of collection process with the debtors residing in that particular state. So, to be on the safer side, ask your debt collection agency about the states they cover and how they deal with debtors residing in other parts of the country. Generally, agencies forward all the inaccessible accounts to the other local agencies if debtors reside outside their coverage area. That's why, ask the potential debt collection agency if they offer such services. This will not only save you from the trouble of finding out the collection agency that covers special states but will also cost you less.
Collection Methods: Verify letters and messages to be sent to the debtors and evaluate if they are effectual or not. Try to find out whether their debt collectors are well trained in calling debtors or not, in order to ensure that their means are chivalrous and professional enough.
Insurance policy: Find out if the agency is covered by Errors and Omissions Liability insurance policy. This policy can defend you in case a debtor moves to the court and files a lawsuit against you for alleged harassment. If the agency has an up-to-date policy, this means that they are careful and accountable for the business practices they use.
Skiptracing: It is a widely used term that refers to the process debt collection agency follows to locate the debtors, who have either moved out or can no longer be in direct contact. It is strictly required when collecting unsettled debts from individuals who keep on moving from state to the other.
If you would like to learn more about Debt Collection Agency please follow the highlighted links to my Debt Solutions Blog.
===========================================
Ways to Pay Off Debt - 10 Simple Steps Towards Debt Freedom
By Samina Jafary
Here's some free advice on ways to pay off debt and become debt free - DON'T GET INTO DEBT!! OK, so now that we have the basics out of the way, let's look at some practical solutions to help you climb out of the hole.
The concept of debt free living is much intertwined with frugality and living on a budget. One is almost the result of the other two. But in this 'buy now, pay later' society, it's very easy to get sucked into the trap and not realize it till you're already in it. If that sounds like you, it's time to look at ways to pay it off. Here are some tips to get you started:
1. Get help. Figure out if you need debt counseling, debt consolidation, debt settlement or just help with debt management. There are plenty of free resources if you look for them.
2. Make a plan to pay it down. Scrimp, save and cuto down but make it a priority to pay off that debt.
3. Stop spending more than you make. Understand that THAT is NOT an option! Debt is caused simply when you spend money before you earn it. Doesn't matter what the reason, justification or circumstances. The bottom-line remains, you spent money you didn't have and now you owe it with interest on it.
4. Create a budget and stick to it.
5. If you can't pay for it today, DON'T buy it.
6. Reduce expenses and use the extra cash to pay off your loans. .
7. Negotiate with your credit card companies.
8. Find ways to generate extra income which you can use to accelerate your debt payments.
9. Simplify your life.
10. Understand the difference between good and bad debt. Not all debt is created equal.
For more tips on saving, budgeting and debt management, visit http://www.simple-tips-on-budgeting.com, a complete online resource for all your household budgeting needs.
==========================================
How Can You Ever Get Rid of Credit Card Debt? Yes, You CAN!
By Philip P Wilson
Credit card debt is a plague that has sunk its poisonous talons into the flesh of unsuspecting consumers at an alarming rate of viciousness. Like many poor habits, it starts of innocently enough. You get a credit card with a low introductory rate and an easy payback ratio. You purchase a $100 dinner for your friends and you impress them not by pulling out the money from your wallet, but by flashing your brand new credit card (ooh, ahh the crowd swoons.).
When the bill comes a month later, the minimum payment is $5.00 and the interest charge is a mere $1 (the monthly minimum interest charge). Rather than pay it all off as you intended, you make the minimum payment. That was a big mistake. You continue to make the minimum monthly payments and after 5 months your balance is now down to $80.00. Then, you forget to make a monthly payment, or it is late. You are now slapped with a $39 late fee. Not only does your balance shoot up to $120, your monthly interest rate jumps to 22%. Ouch.
It doesn't always have to be that way. You must be wise in how you use your credit card. But there may come a time when you need to look for help in your quest for credit card debt elimination. Don't assume that the use of a credit card is all bad: used wisely it can help bolster your credit score meaning that you will enjoy lower interest rates when you borrow money for a car, a home, or anything for that matter. Credit can be used wisely and you can turn around your dependence on credit cards and the high interest and fees that they embrace.
When you do seek help, keep some points in mind:
• Look for a non-profit organization like Consumer Credit Counseling services.
• Make sure that they are endorsed by the Better Business Bureau (or at very least, they are no complaints registered against them).
• Don't go with a company that demands all of its fees up front, they get paid whether they actually help you or not.
• Seek the advise of others, in person, or online.
Good luck!
Phil Wilson
http://www.money-for-my-life.com - a source for helping people make money
http://www.money-for-my-life.com - a blog to help save money.
=========================================
Tips For Working Your Way Out of Debt
By Wolfgang O
Getting out of debt is very hard to do. But you can help yourself out by learning ways that you can save. Here are some great tips to help you get on the road to getting your debt lowered.
The first way to save is to look at your credit cards. If you have several you may want to get rid of a few. This will help you by not being able to buy so much on credit. You may also wish to look and see what the interest rate is. If a few cards have high interest rates, why not transfer them to ones that have lower rates? Then when the bill comes, you can pay off more on the card without having to write two or more checks.
Another great way to save is to plant a garden. Plant some potatoes, carrots, tomatoes, lettuce, green beans, zucchini, squash, corn, radishes, whatever you please. This will save you a lot at the grocery store. You will then be able to take the money you saved at the grocery store and pay off more on your credit cards, your car loan or house payment.
Go garage sale shopping. Garage sales are a great place to get items that you may want for super cheap. You can find dishes, pots and pans, clothes. This is especially great if you have children. It is a very inexpensive way to buy the clothes that your family needs.
Follow these great tips and you will be able to lower your debt by some. You will be saving money by transferring your credit cards to lower interest rates, and if you put in some extra work at a garden you can enjoy veggies for cheap. And wearing clothes from a garage sale is a great way to get new clothes without paying the steep price.
Learn more about strategies to Get Out Of Debt by increasing your income through debt-free Real Estate Investing.
=======================================
Some Bankruptcy Filing Options
By Peter Gitundu
Sometimes, there is usually a choice on what one can keep after the conclusion of a bankruptcy case. This is commonly referred to as the exemption scheme in which an individual chooses the items or assets they choose to retain. This is only applicable under the liquidation chapter and the debtor can choose the exemption scheme only when they have submitted a list of all the available assets together with an approximate value. Once this is done, through guidance, the debtor can choose what to keep or not.
Bankruptcy does not provide for the clearing of secured debts such as mortgages, alimony, child care or outstanding tax on a property. Under this law, reaffirmation is allowed. The debtor must reaffirm the asset in question only after he, under oath is questioned about his financial affairs in the presence of creditors and other involved parties.
Insolvency allows an individual, partnership or cooperation to file a petition under chapter 13. This is through making a payment plan towards the creditors within three to five years. Many of the people who file a petition under this law usually have those debts that chapter seven cannot wipe away. These could be mortgages on homes they would love to keep due to sentimental reason. They could also be child support and alimony or large amounts paid towards student loans.
In the case of bankruptcy, the debtor will require a stable amount of money after monthly expenses such as food, transport and other expenses have been deducted. Once the petition is filed together with a repayment plan, a trustee goes through it for flexibility and sends it to creditors to have it approved. If approved one can keep the assets.
Peter Gitundu Researches and Reports on Bankruptcy. For More Information On Bankruptcy Filing, Read More Of His Articles Here Bankruptcy Filing. You Can Also Add Your Views About Bankruptcy Filing On His Blog Here Bankruptcy Filing
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