• Debt

    Stop Debt Collectors Cold

    Some collectors would call you every day. It is distressing because the conversation is repetitive. He tells you that your account is delinquent and you tell him that you cannot pay (probably because you lost your job or you spent a lot on medical bills). Whatever it is, the debt collector continues to tell you that he will continue the collection efforts. You can request him to stop calling you and tell him that you will write a certified letter. The calls may continue until they have received the letter.

    You can ask the debt collector to stop calling you on your next conversation but writing a letter to the debt collection agency is the surefire way to make the calls stop. In your letter, ask the collection agency to verify the debt and stop calling you unless they have already verified it. It will usually take long for them … Read the rest

  • Debt

    Fight Back Against Debt Claims

    Read and Understand the Notice

    The Fair Debt Collection Practices Act give debtors the upper hand in any consumer debt claims so don’t be too quick to hand over your hard earned money once you see a collection letter in your mail. First, read and understand the notice and then check if they got the right person. Some collection agencies are known for sending collection letters to the wrong address. Note if the debt amount is clearly defined and their contact details, so you can respond accordingly.

    Respond to the Notice

    Once you read and understood the notice, it’s time to respond to it. The worst thing you can do at this point is to ignore the notice as this could result in a credit card lawsuit. Your silence over the issue could be translated as consent on the debt’s ownership! You will be given 30 days to dispute the … Read the rest

  • Debt

    Handling Your Debt

    Every single person who earns a stable income, and doesn’t fall prey to any terrible misfortunes, should be able to build a sizeable nest egg for himself or herself with a little self discipline. It doesn’t matter how much you earn, if you plan properly, you will be able to save.

    The trick is to delay gratification when it comes to spending. Ask yourself what the real cost of an impulse purchase will be. Think of what it will cost you today and also tomorrow. One of the worst reasons for over spending is because you want to compete with somebody. Always trying to have better things than the next person can turn into a disease and severely hamper your financial stability. People guilty of doing this will normally over spend and then borrow more and more money, putting themselves into serious debt.

    Avoid the debt-trap at all costs, because … Read the rest

  • Debt

    Corporate Banking and Its Products

    Products under Corporate Banking

    Project Loan: Commercial banks offer project loan to export-oriented customers for setting up new projects as well as for expansion of an existing projects. To finance costs of building, machinery, equipments, vehicles and other fixed expenses may be the objective of project Loan. Project Loan is provided to the customers in the form of hire purchase, lease finance, loan general etc.

    Working Capital Finance: Business enterprises engaged in manufacturing, trading service business are eligible to avail working capital loan to meet day-to-day expenses for processing of manufacturing and selling product and services. Working capital products include both fund and non-fund based products. Fund-based working capital products include secured over draft, cash credit, packing credit, short-term loans payable on demand bank guarantees. Non-fund based products include bank guarantee; performance guarantees and bid bonds are also supporting the business of our customers.

    Lease Financing: Lease financing became a … Read the rest

  • Personal Finance

    Greater Limits for the Perfect Writing Plans

    Once you have your problem and you have advanced on your research, you can make the plan. Depending on the institution in which you study, you will receive instructions on the type of plan to set up. Argumentary dissertation plan, explanatory essay plan, narrative dissertation plan, there are many possibilities.

    The plan is the simplest part, we ask them to devote the first part to a review of the literature, the second part is dedicated to the field, and the third part consists of recommendations. Then you have to make a conclusion with an opening. The simplest plans are the most effective.

    To compose your plan, do not hesitate to leaf through the memoirs written by former students of your class. You will give ideas and you will realize what can (or not) be done.

    And if you are more of a “visual” type, you can also build the skeleton … Read the rest

  • Personal Finance

    Securing Financial Future

    Questions to Raise

    When dealing with an investment broker, advisor, or agent, how certain questions are answered can point out reasons not to work with those individuals. For instance, asking them what methods of compensation they work with, fee-based, or commission, as such if they outright refuse to discuss or even hurry through their explanation, this gives just cause to walk away immediately. The thing to keep in mind is that as an investor, you are the boss, which means, that the adviser works for you and should be completely transparent about how they are compensated for their services.

    Looking into this aspect further, if they receive payments via commissions from selling products they need to prove there is no conflict of interests. What may occur is they would try to entice an investor to spend money on something that provides a higher commission for them. This is one issue … Read the rest

  • Personal Finance

    Ways to Teaching Your Young Child About Money

    What is money? Children quickly learn mom and dad use money to buy stuff, but they usually lack the understanding of where that money comes from.

    • It can be helpful to give them an example of bartering. Explain that long ago, a person might have traded a horse for a cow. But having money allows someone to buy a cow, even if that person doesn’t want a horse in exchange.
    • Discuss with your children about how people have jobs and work so they can earn money to pay for a house, car, clothing, entertainment, and other expenses.
    • Make the point that money is a medium of exchange. You have likely exchanged a certain number of hours of your time to earn $100. You then spend that $100 on goods or services worth $100.
    • Show them all the different types of money, including coins, and explain the values.

    Let them earn … Read the rest

  • Personal Finance

    Being Broke and Being Poor

    The misunderstanding and abuse also reflect in their financial attitudes. Since financial attitudes determine financial altitudes, most people are hardly able to achieve any meaningful financial success all through their adult life, despite being very hardworking, because they have wrong financial notions, and deceptive financial mentalities and philosophies. They just cannot excel in their finances because their mindsets are hostile to the accumulation of material riches and wealth.

    This is why it is important that you ascertain that your mindset is hospitable to wealth creation prior to aspiring to becoming rich. Among the most unpopular financial terms that are misunderstood are the phrases ‘being broke’ and ‘being poor’. It is imperative that you understand these concepts and how they are related so that you can take advantage of the knowledge in your journey to financial success because they are neither synonyms nor interchangeable phrases.

    Being broke means having no money … Read the rest

  • Debt

    Other Cost of Debt

    Perhaps enticed by these products, you spurge left and right, swiping your credit cards as though there is no tomorrow. Remember the movie Confessions of a Shopaholic? Sometime, people tend to be guilty about it. However, the reality is that our life is not a movie that someone must direct us what to do to make it a happy ending.

    More than the financial costs of debt, there is one factor that is detrimental if left unheeded and unsolved. This may cost more than your wealth simply because nobody can buy it. When you lost a thing, you say, “it’s just a thing, I still can buy it.” But when the emotion is involved, it’s something that is serious and it needs careful attention.

    When you are unable to pay your debts on time due to financial scarcity and whatnot, it leaves you feel desperate and not in control of … Read the rest

  • Personal Finance

    Psychology of Retirement

    Retirement in the models described above is simply quitting your job. Retirement can be thought of as leaving a job or task to do another task. People rarely sit around and do nothing unless they are not able to do any work. People will want to find something to do, no matter what it is and whether they are paid for it or not.

    A better definition of retirement is doing what you love and having control over your resources. Do you have to suffer for 50 years to do what you love? Many people talk of “paying your dues”. Why not do what you love now? Yes, there are many responsibilities to consider, and doing what you love means being much more mindful of how things get done, how things are paid for and who gets affected. Doing what you love is hard for most people because it means

    Read the rest