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Discover Some Effective Tricks to Negotiate Debt Settlement Successfully



Historic Debt Is At The Core Of Our Economic Decline

We know that the U.S. economy is continuing to grow; however, the American consumers are still continuing to accumulate debts and are, therefore, grappling with insurmountable debts.

The economic outlook of the U.S.A. seems to be healthy as per the vital economic indicators. In this context, the most crucial indicator is supposed to be the GDP or the gross domestic product that is known to measure the production output of a nation.

According to thebalance, the U.S. GDP growth rate is actually expected to be between the 2% to 3% ideal range. But even with the American economy booming, several consumers are finding themselves neck-deep in debts, particularly, credit card debts. Some of the common reasons for this vicious cycle of debts could be natural disasters, illness, loss of employment, and some unexpected events that have culminated in disturbed or disrupted cash flows leading to debts.

As per Experian, the credit card debt on an average is up by nine percent as compared to the last couple of years, but for those cardholders having profound subprime scores, it seems to be up by 26%. The total consumer debt in 2018 is 3.898 trillion, which is 7.6% hike from the previous year. Moreover, ‘the average consumer debt per capita is approximately $11,880.’ Statistics reveal clearly how consumers are having a tough time dealing with debts.

When normal endeavors to repay existing debts fail, you may consider getting in touch with debt settlement firms and hire a trustworthy company for negotiating with your creditors on your behalf to reduce your debt balance so that you could successfully address your debt. You could browse through debt settlement feedback from customers online, to identify the right debt settlement company.

Debt Settlement: A Practical Solution Meant for Everybody

Credit card companies could be more than willing to settle your debts just for a fraction of the total debt amount owed by you when they realize the fact that you are genuinely going through a financial turmoil and gradually heading towards bankruptcy. If you file for bankruptcy, it would be a complete loss for the credit card company.

So they would be satisfied with whatever amount even if it is just a portion of the full balance. They would think that something is surely better than nothing. Moreover, debt collectors would usually purchase outstanding debts at very cheap rates from credit card companies. So they are often ready to settle provided they are able to make a substantial profit.

Here are some effective tricks to negotiate successfully with your creditors for a really profitable settlement of your debts.

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Be Prepared to Encounter a Refusal to Accept a Debt Settlement Request

Several people are of the opinion that if they have ended up accumulating a huge balance over time, on their existing credit cards, they could simply come up with some story regarding how they are going through a financial crunch and automatically, the card companies would be willing to negotiate for debt settlement. Unfortunately, the picture is not so rosy and both the collection agents and the credit card companies are very strict while considering a debt settlement request.

They would mostly ask for solid proof of your existing financial crisis and they may suggest effective solutions or adjustments so that you can make the repayment in full. Often, they may take a very drastic and stern stance and inform the customer that they are not at all bothered about the financial stability of the consumer and that you need to find out a way on your own and pay up the balance in full at the earliest.

Do Not Lie

When you are trying to convince the card company on the telephone, it is best to come up with facts and there is no point in lying or beating around the bush. Tell them that you are going through a major financial hardship and are not in a position to pay them all their dues. Do not lie. Tell them precisely the reason why you have been defaulting.

Do not even think of cooking up a story as you would be required to substantiate everything you say with some proof or documentary evidence.

No need to tell lies, such as you have got divorced or you are currently unemployed or incurred unanticipated medical expenses, etc. It is best to stick to the truth and to keep emphasizing the fact that you are opting for debt settlement for avoiding bankruptcy.

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Avoid Being Dramatic

Debt collection agents know of certain tricks that may trigger some statements from you which eventually would be working against you. So be calm and collected and do not get carried away. Resist all sorts of provocation. Interact with poise and calmness. If by chance you are thinking that you are losing a grip on the conversation, it is best to request a meet later on to continue the discussion.

It is a good idea to inform them that you would be recording the entire conversation. This would keep things legal and civil. You must maintain all the notes of the meeting, take down the name of the person acting as the representative of the creditor or the collection guy you have been interacting with.

You could quote in the event anything illegitimate was suggested or any verbal agreement was made.

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Know What Amount You Could Afford to Settle the Debt for

You must examine your financial scenario thoroughly and figure out exactly how much you could actually afford to pay as a debt settlement amount.

You must consider the fees, charges, and other expenses while determining the surplus that could be diverted toward debt settlement.

Even though most debt settlements are made possible only if you are able to make a lump sum payment in one go. But you may alternatively, negotiate for repaying according to a payment plan which you could actually afford.


You need to get the agreement of debt settlement in writing. Remember that verbal assurances make no sense and cannot be enforceable. Debt settlement seems to be an enticing way of getting out of your nagging debts but remember this process comes with certain implications. Your credit score could be impacted adversely.

Your credit report would have an entry of your debt settlement. This would remain in your credit file for the next seven years or so. Take smart decisions for surviving in the precarious quicksand of debt.

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Does Best Mortgage For First-time Buyers Exists in Reality? Find Out Now!




First time buyers are those who are looking to purchase the home for the first time and many of them are eager to find a new home for themselves. Every prospective buyer has to go through the whole process involved in buying a home for the first time. As they search around, they may get confused and frustrated. This is mainly due to the options that they have or simply they don’t understand the need for financing. They are very vulnerable and can be easily trapped into the scam of lenders because of their lack of knowledge in home financing.

So, with some planning and efforts, they can educate themselves with the process of purchasing a home and getting financial aid by lenders in case they need it.

When it comes to finding a mortgage for the first time buyers, it can be a difficult task indeed. There are many options available for you in the market provided you have a good and steady source of income and good track record of your credit history.

In today’s time, finding the right mortgage can be a daunting task as many lenders may market their product as the best “mortgage for first-time purchasers” but in reality, on looking carefully it is seldom true as everyone’s financial condition is not same and score differently on the financial scale.

We are going to discuss the things to look out for and should pay attention if you are a first-time buyer looking for a mortgage.

  • Decide the location where you want to purchase a home.
  • Calculate the entire expenditure involved in buying a home or building a house.
  • Take help from experts like financial advisors or brokers to acquaint yourself with various mortgage schemes and their terms and conditions.
  • Examine your requirement and go through various loan plans available in the mortgage market before deciding on a particular deal.
  • Make an estimate of the amount which you can pay as a down payment.
  • Get yourself in touch with the lender who has the loan package which suits your needs and requirements.
  • Get yourself educated on the rate of interest and other fees involved.
  • If you have a low credit history due to any reason, try to improve your credit score before applying for a loan.
  • The most important thing for a first-time buyer is to save! As lenders are very cautious with their lending and wish to minimize their risk, the larger deposit you have, the more chances are there for your approval and at a lower rate.
  • The more money you keep as down payment the lesser the mortgage amount becomes which in turn reduces your monthly expenditure.
  • If you can keep 20% down payment, you can get rid of the high insurance cost to insure the mortgage loan.

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Documentation and Information

In the past, most first time buyers used to contact a realtor; however, this is not the first step that one should take. Instead, first, you should get all financial information and a better understanding of what can be affordable for you. These documents are necessary for the loan application irrespective of the lender. You should begin by looking at your previous months of bank record. Look at the property you have and verify your income.

Get a Pre-approval Letter

First-time buyers should consider pre-qualification before they start searching for their first loan. Lenders can decide how much worth of loan you can afford at the current rate. Sellers are very likely to accept offers from pre-qualified buyers. During the purchasing process, lenders will look into credit record once again before closing the deal. The reason behind it is just to make sure if the borrower took any additional fund. Don’t apply for a further loan until your house loan gets over.

Ask For Quote

Once the buyer gets their dream home, they need to contact the lender to make sure they have an exact quote. They can then compare all the options available to them before selecting one.

Loan Options for First-time Buyers

There are many options available for first-time buyers. These loans may have very lower down payment from 5% to 20% of the cost and lower interest rate as well. Some loan options also provide deferred payment method during any difficult time. These loans may have some demerits like higher mortgage insurance. Some of these loans may ineligible for refinancing later. There are various options available like Joint Mortgage, Shared Ownership, and Guarantor Mortgage.

Apply For a Loan

The buyers will choose the option which will give the most benefit. The process is very quick as most of the information has already been checked by the lender during the pre-qualification process. In some case, you might have to provide some additional document if required.

Shopping around can be a wise move for first-time mortgage buyers. Most of them have their website and you can go their website to get in touch with them. You can request for a quote and compare it with other lenders. Once you have decided about the lenders, you can move ahead with the process.

Get Approval

Once submitted, you just have to wait for final approval. One inquiry will be done by the mortgage lender to confirm the value of your home. The lending agency may also do a title search to make sure that there are no dispute or ownership issues attached to the home.

In conclusion, get good advice from some good mortgage advisors. Make sure that you can afford the mortgage comfortably and it the right one for you. Keep an eye on any hidden charges and make sure that you have taken the right insurance policy. When someone offers the “best mortgage for first-time buyers” check it out very carefully before going for it. Use the internet to help you understand and get knowledge on the mortgage for first-time buyers.

Description: Rising house prices in the UK have made it hard for first-time buyers to purchase a new house. However, due to various online lenders available to provide loans, it is not difficult to buy your dream home.

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How Invoice Factoring Help Staffing Business Owners



Invoice Factoring

Staffing companies are often faced with a dilemma: clients only pay in full once the job is complete. Most of the income and working capital is tied in pending invoices. This means that business owners need to pay for operational expenses, overhead costs, and more even before they receive payment for services rendered. Invoice factoring for staffing companies helps free up cash flow to fund daily operations. If you have pending invoices, as most staffing companies do, you’re eligible to apply for invoice factoring to address cash flow issues.

Invoice factoring allows you to sell outstanding invoices to a factoring company at a discount. The factoring company will give you 80% to 90% of the total invoice value upfront so you don’t have to wait for months for invoice payments. They’ll give you the remaining percentage, minus a small fee, once your customers pay their invoices.

With that said, here are some of the ways staffing companies benefit from invoice factoring.

1.    Support Rapid Business Growth

Business owners want to grow their business, but sometimes, rapid growth can lead to cash flow issues. If your client base is growing quickly and you don’t have the funds to cope with the growth, invoice factoring is an effective funding option. You can use the funds you receive from factoring to grow your staffing company and meet the demands of your existing and new clients.

2.    Reduce Employee Turnover

If invoices are paid on time, staffing companies will have no problem hiring more employees, paying for bonuses and benefits, as well as making payroll. Unfortunately, this isn’t always the case. Staffing companies often wait for 30, 60, or 90 days before receiving payment for their services. Without income and working capital, you won’t be able to pay your employees; if you don’t pay them, they’ll move to another company that could. If used wisely, the funds from invoice factoring can help keep your employees happy and therefore reduce employee turnover.

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3.    Immediate Funding

Unlike traditional business loans, you don’t need to undergo a rigorous application process with invoice factoring. In fact, with the right lender, you can receive funding within one to three days. Furthermore, there’s no limit to the amount of financing you can receive. As your business grows, the amount of working capital you can access grows as well.

4.    Reliable Cash Flow

Did you know that cash flow issues are one of the main reasons why staffing companies fail? As a staffing business owner, you can leverage invoice factoring to keep your business financially stable regardless of the season it is in. Invoice factoring can pay for worker compensation, equipment, insurance, and more.

Invoice Factoring for Staffing Companies

Many companies offer invoice factoring for staffing companies in the United States because they understand the urgency of your working capital needs, so they offer immediate funding in as little as 24 hours.

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How to calculate the EMI for Used Car Loan? Here are Solid Tips



used car loan


Calculating the EMI of a used car loan is important to figure out how much you would have to pay as EMI every month. This article provides some solid tips for the same.

In FY 19, 4 million units of used cars or pre-owned or second-hand cars were sold in India. By FY 22, it is expected that close to 7 million pre-owned cars will catch the interest of buyers. The pre-owned cars market is growing from 3 to 4 times the new car market. Even though there has been a slow down in the new car market, the used car market hasn’t experienced any resistance.

The Indian pre-owned cars industry may be poised to be worth Rs 50,000 crore by FY 22. Even while purchasing second-hand cars, buyers prefer to take a loan for the same. Calculating the EMI for a used car loan is critical. It will give the buyer an idea about how much would be the monthly outgo for the next few years.

What is an EMI?

EMI stands for equated monthly installment which you make to the lender to repay the loan you have taken to buy a second-hand car. WIth every EMI, you repay a part of the loan amount and the interest payable on the loan.

Here Are Some Solid Tips for Calculating the EMI of a Used Car:

An EMI tool is straightforward to use. As mentioned above, all you have to do is fill in the details, and you can check out the EMI.

  1. Search for EMI calculators for used cars over the internet. The search engine will throw up search results which may also include EMI calculator for new cars.
  2. Make sure you are choosing the link of a reputed and trustworthy NBFC
  3. Always input the correct details to know the right amount.
  4. Once you input the details in the used car loan EMI calculator, the EMI is calculated and visible instantly.
  5. The calculator shows the amortization table, wherein, the breakup of the principal amount and interest payable is visible for the tenure.
  6. Use the detailed breakup to calculate which loan amount which best suits your budgets
    The free tool can be used as any number of times you want with different principal amounts and interest rates to calculate the EMIs

So, it is easy for you to calculate the EMI of a pre-owned car with a used car loan calculator.

Understand What the Different Parameters Mean

When you check out the used car loan calculator, you will mostly have to enter the following details:

  • Loan: This stands for the loan you are planning to take from the lender. It is also referred to as the principal amount.
  • Rate of Interest: This would be the approximate rate of interest a lender charges on the used car loan. Several NBFCs offer affordable ROI – remember, even a small change can lead to high differences.
  • Tenure: The tenure of the loan – it is the time (usually calculated in months) for which the loan is taken.
    Once you enter the correct details, the EMI calculator will show you the monthly installment you are required to make to the lender.
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What Are the Requirements For A Hard Money Loan?




Any person with the slightest interest in real estate might have come across the term ‘hard money loan,’ and maybe wondering what a hard money loan is, precisely. Simply put, it is a loan by which you can receive funds secured by real property. Private investors or companies generally lend hard money loans.

When a bank, after checking your credit score and other aspects of the required loan, rejects your loan; a hard money lender comes for the rescue. That is because hard money loans do not depend on credit score. Its terms and conditions have many different preferences.

These preferences and requirements are not the same in every case. However, there are a few requirements that stay constant when hard money loans are concerned. Without these requirements, the deal cannot be signed and sealed at all. This article discusses briefly these requirements and how hard money loans work.

Why is hard money loan beneficial?

Before going to the details and working of understanding the requirements of a hard money loan, we must know why hard money loan is the right choice, or what is beneficial about it. Because, in today’s millennials era, no one is interested in discussing something they don’t find helpful.

Well, to begin to understand, we will start with the headache of credit score. As mentioned above, a hard money loan does not require a credit score. So you wouldn’t have to worry about maintaining your credit score. Instead, more important things can be focused on.

Then, the time, feasibility and reduction play a vital role in this field. That means that in comparison with a bank loan, this loan is issued, received, and lent sooner. Therefore, the speed of loan transfer, the process through which it goes through is much advantageous for the borrowers.

Most importantly, a hard money loan goes through the least amount of processes to reach the borrower. This reduces the effort, work, and hardships of paying many visits to the bank, lurking for bank employees for loan sanction. Thus, the loan is a great choice who are unable to get through the bank system.

However, hard money loans are not always perfect. They come with their liabilities. However, the pros always overcome the cons, and therefore, whenever a loan becomes a difficulty, hard money loans help in various ways.

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Requirements for a hard money loan

Hard money loan rates can range from 7.5% to 15% with three months to 3 years term. However, this widely depends on the following requirements. As the more fulfilled the conditions are, the more loan range and amount increases. So some of these requirements are:


It is an obvious step or method to be always pretty sure, before putting your money on anything, about its reliability. So, how can a lender, without confirming such sensitive documentation about the ownership of the property seal the deal?

For this reason, the lender always checks the equity and percentage owned of the borrower in a property. Hence, there must be equity in the property. The minimum amount commonly ranges from 25-30% for residential properties and 30-40% for commercial properties.

Hence, when dealing with hard loans, it is imperative to keep in mind that the lender will not lend more than your share in the property, your ownership of the property. So, equity is directly proportional to the loan sanctioned — the more equity in the assets, the better the chances of securing a ‘good’ loan.

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Just like a lender always checks equity in the goods, they similarly observe the knowledge of the person. If the person is fresh in the business, they are immature and are likely to make more mistakes, while an experienced person or an old player can be a perfectionist due to their experience and knowledge of the business.

Thereby, an expert is preferred for issuing the loan. So, if a skillful player wants a hard loan, they will have a simple plus point in comparison to others. However, it is one point that is considered, but the person doesn’t need to be old or experienced. Often these loans are lent to inexperienced, new adults.

For such a situation to occur, there are more aspects attached. That means that the lenders might look at some more beneficial outcomes that the person is offering. That means that other requirements can overcome this requirement.

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Financial status

Now, this is perhaps the most critical requirement as the full loan depends on this. Hard money loans are based on the borrower’s financial condition. The more financially secure they are, the stronger are the chances of getting a loan.

The main reason is that during this whole process, all the taxes, payments, and insurances are stated. Therefore, all this is a tactic of the lenders. That is because high financial status of a borrower promises profit, and profit is all that is required in this business.

For that reason, the higher the amount of cash stock the borrower can present, the better the probability of approving hard money loan will be. Moreover, the weaker financial stats looks, the lesser are the odds.

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Loan to value

A significant terminology used in hard money loans, which is the ‘loan to value’ plays a vital role in passing the loan. Loan of value defines the amount you receive in hard money loans according to the property.

The value of the property decides the amount you will be given in a hard money loan. According to, many hard lenders lend up to 65% to 75% of the current value of the property. So, the math can be done! The more the loan of value, the more will be the chances of the loan; in fact, there will be a more significant opportunity for a higher amount.

A little known fact that in Dallas, Texas, hard money loan has become more prominent with time and now it has become an excellent way to invest and make a profit, nowadays. So, the loan to value rule is more noticeable over there. Private money lenders Dallas TX thus prefers that the value of the property is high. Also, as Dallas is one of the most famous areas for this business, it has become more necessary than the loan of value is considered globally.

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Reasonable assumptions

The asset that can overcome the experience phenomena is the assumptions made for business. The more valid, possible, and reasonable your assumptions regarding the business are, the brighter are the chances of receiving the loan. Hence, in such cases, the intelligence and geniuses’ of the borrower does the work.

Therefore, even if the person is not experienced, they have sanctioned the loan for their capabilities. Although, the experience is required here as well because an expert can easily predict such assumptions by their past experiences. Still, it can overcome expertise as it is not always necessary that an experienced person will make a reliable assumption.

The newcomer may make a strategically possible and intelligent assumption. It can be said that it all depends on a good, strategic tactic or plan.

To wrap up, we can conclude that hard money loans are an excellent way of mutually benefitting both sides of the corporate spectrum. If the steps mentioned above are followed and the borrower matches the requirement, the possibility of not securing a hard money loan seems unreasonable!

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Why Commercial Loan is the Best Solution for Your Financing Needs




Starting your new business can be a great or challenging experience for many business owners. The reason being is that having your own business means there is no end to the amount of effort you need to put on a daily routine to make sure your company is in top-notch shape. And the more profitable your business gets, the more your expenditure will continue to grow.

The growing business is a good sign, but unfortunately, not many business owners have the finance to expand their line of business. Some usually begin by having an office in their own homes, or some save up enough money to be able to change office destinations whenever they want to. Whereas on the other hand, some people require expenses for multiple reasons but do not have the finance to cover them all. That is precisely when these business owners begin to look into commercial loans.

What Are Commercial Loans?

Let’s begin by talking about what exactly is a commercial loan. It is a funding arrangement based on debt between a lender, such as a bank, and a small business. It is not a loan given to a person. The loan is commonly used to cover up costs and fund significant capital expenditure for business owners.

When Do You Need Commercial Loans?

There are various ways a business owner can make use of commercial loans to handle some of the finances required for the company to advance.


Many companies use their initial profits to cover up the costs of their next batch of merchandise to meet the constant demand of their consumers. It prevents them from using their primary surplus to experiment with a new line of goods and marketing strategies.

But with the use of a commercial loan, they can use that to cover the cost of inventory and have enough finance to work on new products and try out new business and marketing approaches.


Once your business starts booming, expanding your current office space becomes an inevitable next mode of action.

Some people start with conducting their line of work within the premises of their own home. But eventually, they would need to get a larger office space to employ new people and develop company projects on a larger scale.

For that purpose, a commercial loan, specifically a real estate loan, can help them get enough finance to purchase a shop, own a piece of property, or have an area of land constructed to make your company building.


Not everything job-related task can be performed by hands, which is why many companies have machines and other kinds of stuff to do the job that manual labor cannot deliver.

However, equipment is expensive, and many new business owners buy several cheap ones to get their jobs done. But these appliances are easily broken down, and their continuous repair costs can be much more expensive than the original price of the machine itself.

Plan-wise when it comes to purchasing of equipment. You can use commercial loans to purchase the right quality machinery with better functions and a long durability period. It will benefit your company and not waste your expenses at the same time.

Lower Interest Rates

Compared to other lending institutes, commercial loans offer low-interest rates to their borrowers. On the other hand, banks are always finding ways to get new customers so they will be more willing to provide you with a reasonable interest deal than what you would get from a personal loan. The bank does earn a bit of profit, but the rate is favorable mostly to the borrower.

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Convenient and Easy to Get

Institutions that offer loans other than commercial ones are not easy to access or get within a short period. It usually takes weeks for your loan application to process, and most of the time, the answer still ends up being a refusal from the lenders. Commercial loans, in comparison, are much easier to obtain. Your loan process takes up to almost three days, and you can quickly fill out the application form online within just a matter of minutes.

No Interference with Your Business Plan

If you take a loan from a private investor, they will earn a right to have a say in your business is operations. They can influence many factors within your company according to their choices.

A bank loan, on the other hand, does not care how you use the money loaned to you as long as you can pay it all back. This way, you have full control over your business, and no one will stop you in whatever you feel you have to do for the sake of your own company.

What You Need To Apply For a Commercial Loan

There are many types of commercial loans, such as Permanent Loans, SBA Loans, and Takeout Loans, etc. Also, each of them has a set of requirements that are necessary to fulfill to be applicable to get these loans. Here are a few of the things you need to have if you are planning to get a commercial loan for your business.

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Business Plan

No one will be willing to lend you a loan if your business plan isn’t going to produce profitable results. You need to sell your business plan to the investors by showing them documents such as your profit and loss statement and cash flow forecast. It will convince them to consider giving you a hand in financing your company.

Credit Score

A credit score is essential when applying for a loan because it can determine whether or not you are applicable enough to get a commercial loan.

Your credit score history tells your investors how your behavior is towards money spending and whether you are responsible enough in handling the finances of your company. A credit score above 680 is preferable to get a commercial loan from a bank.

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