Greek debt relief closer than ever but creditors must act, Greek


Greek debt relief ‘closer than ever’ but creditors must act, Greek prime minister says

ATHENS Greek Prime Minister Alexis Tsipras kept up his demand for debt relief from international lenders on Tuesday, saying Athens was close to securing a solution to ease its debt mountain but that creditors must meet there commitments.

Greece wants to wrap up negotiations with the lenders — the European Union and International Monetary Find — on reforms and on debt relief this month.

It needs another tranche of bailout money, wants to qualify for inclusion in the European Central Bank’s bond-buying program, and seeks to return to bond markets immediately afterwards.

“We are closer than ever to a substantial solution on debt relief,” said Tsipras reiterating that Greece had already agreed to apply more austerity after its current bailout expires and it was its lenders’ turn to fulfill their promises of discussions about debt relief.

“Τhe ball is no longer in our court,” he told reporters referring to lenders’ statements on debt relief in past years.

Despite Greece’s recent statements and a bailout review agreement at staff level, sources close to the lenders have been less optimistic seeing talks on debt relief lasting longer than May.

This is because of sharp differences between the IMF and Germany, Europe’s paymaster, over the Greece’s fiscal targets. The former says Greece’s target and debt are unsustainable; the latter, with an election coming, is less willing to drop its hard line.

After six months of tense talks, Athens and the lenders reached a deal last week on a set of additional reforms the country needs to implement in 2019-20, two years after its current, 86-billion euro bailout program expires.

Greece wants euro zone finance ministers to approve the reforms’ deal at a scheduled Eurogroup meeting on May 22 — a key condition for unlocking vital loans — but also agree on a formula to make its debt sustainable in the medium-term and long term.

Debt sustainability is key for the European Central Bank and the Washington-based IMF, which participated financially in the country’s first two rescue packages, but has yet to announce whether it will join Greece’s current program, the third since 2010.

Greek lawmakers are expected to vote on the new austerity package by May 18, before euro zone finance ministers assess the country’s progress.

Tsipras, who is sagging in opinion polls and whose term expires in 2019, controls 153 lawmakers in the 300-seat parliament and he is expected to pass the bill.

But the delays in the negotiations have slowed projected economic growth and have exacerbated reform fatigue after seven years of austerity hurting the government’s popularity further.

Asked whether he was considering a cabinet reshuffle, Tsipras ruled it out.

“We are not considering it. Our aim now is to speed up work as much as we can,” he said during a visit at the education ministry, where he announced a planned education reform.

(Additional reporting Angeliki Koutantou Editing by Jeremy Gaunt)

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Fort Worth Bankruptcy Advice and Bankruptcy Help in Fort Worth #fort


3000 Central Drive Bedford, Texas 76021-3671 Fax: (817) 358-9988

Fort Worth Bankruptcy Attorneys

Offering expert advice and bankruptcy help to consumers and businesses

The experienced attorneys at The Vida Law Firm, PLLC represent individuals and small businesses throughout the Fort Worth, Texas area in all kinds of bankruptcy proceedings. If you or your organization is facing financial difficulties, mounting bills, foreclosure and repossession proceedings, or harassing collection activity, you can rely on our skilled Fort Worth bankruptcy advice.

Although the prospect of bankruptcy may seem intimidating, a qualified attorney can offer Fort Worth bankruptcy help to guide you through each step of the process. The attorneys at The Vida Law Firm, PLLC can represent you and your interests to creditors, the trustee, and the court, helping you reorganize debts and make a fresh start.

Bankruptcy in Fort Worth – We specialize in cases like yours

With nearly 70 years of combined legal experience, our attorneys have the skills and experience to guide you or your business through even the most complex Chapter 7. Chapter 11. or Chapter 13 bankruptcy in Fort Worth.

Behrooz Vida and Richard Venable are certified by the Texas Board of Legal Specialization as specialists in consumer bankruptcy law. Mr. Vida is also a specialist in business bankruptcy law, and is the recipient of Martindale-Hubbell’s prestigious AV peer rating. indicating the highest levels of professionalism and ethical standards. Carla Reed Vida is an exceptional Fort Worth bankruptcy attorney with strong capabilities in all areas of personal and business bankruptcy in Fort Worth. and a Master of Business Administration degree.

Fort Worth bankruptcy help advice – We have your best interests in mind

At The Vida Law Firm, PLLC, we meet with you personally to examine your financial situation and explore all possible Fort Worth bankruptcy options. Once you have decided what is best for you, your family, or your business, we move quickly to ensure that you can begin rebuilding your finances as soon as possible.

Call us for bankruptcy help in Fort Worth

To schedule a free initial consultation, contact The Vida Law Firm, PLLC today. You can call us at (817) 803-3365 or contact us online for bankruptcy advice in Fort Worth.

Quick Contact


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Credit Card Debt Consolidation Companies #credit, #card, #debt, #consolidation, #loan, #student,


Credit Card Debt Consolidation
This site is a quick and easy way to find out information about consolidating credit card debt. If you are searching for a company to help you consolidate unsecured debt (such as credit cards), we can help you find the popular online companies that offer these services.

Credit card debt consolidation is a fairly simple process, but it does take some time. It is a process that is perfectly suited for doing online. The companies that we list on these pages all specialize in debt consolidation and are all reasonably well known.

We don’t perform credit card debt consolidation, but we can tell you the top companies that do.

Free Debt Consolidation simple debt consolidation service, not a loan, they actually reduce your interest and payments.

DebtWave do you have past due bills? Get a free debt help quote and work to get debt free.

DebtWave can help with your debt problems.
DebtWave have helped many people settle their debts, avoid filing bankruptcy and build strong and secure futures. With their debt settlement system, they will negotiate on your behalf to actually reduce your debt allowing you to make your payments.

If your credit report is all messed up, you need to get it fixed. You can either try and fix it yourself or find a company to help you out. Lexington Law are experts at correcting bad reports.
Find out more .

Check out our entire list of debt consolidation programs.
If you have too much unsecured debt, you can consolidate your current debts with home refinance and relief programs, but be careful before you guarantee your home for past unsecured bills.

Credit Card Debt

DebtWave will help you regain control of your unsecured debt. A popular choice.

If you just need a little help making it to the next pay check, applying for a short term loan online may help by providing you with a fast and convenient solution. It can be done 100% online, with approval in minutes, and you can have your money fast.

It takes just a few minutes to apply for a payday loan online. You can get a fast approval notice, but they are pretty expensive in fees and interest.

Short term loans can be a fast and effective solution to your short term financial needs. Be sure to check all costs and compare your options.

Need help budgeting your money? Try Mvelopes Personal.

Before you enter into a consolidation program, make sure you get all the information on the risk factors to avoid.


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Personal Business Loans #debt #consolidation #loans, #debt #consolidation #loan, #home #improvement


Get a Personal Loan for Your Small Business

Looking for small business loans? Prosper can help you get personal loans to use for your small business.

Loans through Prosper are not traditional small business loans. Personal loans through Prosper are based on your credit score, and issued to you as an individual (not a business). For some small business owners needing loans, a personal loan won’t answer their needs—but for other entrepreneurs, it’s perfect. In some cases, such as when a business doesn’t yet have a proven track record, our small business loans can provide lower rates or even just the ability to get a loan.

Whether it’s a personal loan for a new business, a small business, or a larger, more established one, turn to Prosper for access to unsecured personal loans at the rates you’ve been searching for.

Get Personal Loans for your New Business

Do you have a great idea for a first time new business, but lack sufficient backing for a loan? We understand getting new business loans can be challenging, but we may be able to help you and your new business with the loans you need.

Turn to Prosper for access to unsecured loans at great rates. You won’t need to put up any collateral or refinance your home to get the funds you need. Personal loans for small business use are issued to you as an individual, and are dependent on your good credit. Because of this, Prosper can be great help for a new small business.

Need a Personal Loan for your Small Business?

Being your own boss in a small business often isn’t easy — but the rewards can be immeasurable. If you need loans for your small business, you’ve come to the right place.

One of the most difficult roadblocks to overcome can be finding the right small business loan at the great rate you need. And yet, small businesses provide the essential financial backbone in our local communities. At Prosper, we understand this.

Personal loans can be a sensible alternative to small business loans in situations where the small business doesn’t yet have a solid history of profit, or can’t currently provide the documentation and analysis a bank requires to consider a small business loan. The personal loan is issued to an individual—the business owner—based on their credit. It is ultimately their responsibility to pay back the loan.

Prosper is the right choice for Personal Loans for your Small Business

Prosper makes the entire process of getting loans for your new business or existing business easy. If you are new to Prosper, simply join as a borrower and request a loan by creating a listing. You choose the amount.

Why not apply now. It s easy to get loans, and posting a loan listing is absolutely free.

Can I obtain a loan with bad credit?

If you’re certain you have bad credit, Prosper may not be right for you at this time. Consider taking a few months to improve your credit rating, and then apply.

Do you need perfect credit to obtain a loan through Prosper? Not at all. Few of us have perfect credit. If you have average or above average credit, Prosper can be a terrific place to get access to low interest rate loans for you and your new business.

Don t believe us? See for yourself: Get rate now .

There may be Prosper investors out there who are specifically targeting start-ups that need new business loans. We want to help you reach your dreams.

Does my credit score affect my loan?

Yes. If you are sure you have bad credit, you may want to consider improving it before you apply. If you are not sure if you d qualify, we can help you find out now. for free, with no obligation.

Choose the right fit for your business

*For example, a three year $10,000 loan with a rate of 5.99% APR would have 36 scheduled monthly payments of $302. A five year $10,000 loan with a rate of 9.68% APR would have 60 scheduled monthly payments of $201. Annual percentage rates (APRs) through Prosper range from 5.99% APR (AA) to 36.00% APR (HR) for first-time borrowers, with the lowest rates for the most creditworthy borrowers. Eligibility is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All loans made by WebBank, member FDIC.

Prosper and WebBank take your privacy seriously. Please see Prosper’s Privacy Policy and WebBank’s Privacy Policy for more details.

Notes offered by Prospectus. Notes investors receive are dependent for payment on unsecured loans made to individual borrowers. Not FDIC-insured; investments may lose value; no Prosper or bank guarantee. Prosper does not verify all information provided by borrowers in listings. Investors should review the prospectus before investing.

All personal loans are made by WebBank, member FDIC. Loans are unsecured, fully amortized personal loans.

Notes are not guaranteed or FDIC insured, and investors may lose some or all of the principal invested. Investors should carefully consider these and other risks and uncertainties before investing. This and other information can be found in the prospectus. Investors should consult their financial advisor if they have any questions or need additional information.

Prosper Funding LLC. | 221 Main Street, Suite 300 | San Francisco, CA 94105

**All personal loans are made by WebBank, member FDIC. All Prosper personal loans are unsecured, fully amortized personal loans.

Notes offered by Prospectus. Notes investors receive are dependent for payment on personal loans to borrowers. Not FDIC-insured; Investments may lose value; No Prosper or bank guarantee. Prosper does not verify all information provided by borrowers in listings. Investors should review the prospectus before investing.

*Seasoned Return calculations represent historical performance data for the Borrower Payment Dependent Notes (”Notes”) issued and sold by Prosper since July 15, 2009. To be included in the calculations, Notes must be associated with a borrower loan originated more than 10 months ago; this calculation uses loans originated through May 31, 2012. Our research shows that Prosper Note returns historically have shown increased stability after they’ve reached ten months of age. For that reason, we provide “Seasoned Returns”, defined as the Return for Notes aged 10 months or more.

To calculate the Return, all payments received on borrower loans, net of principal repayment, credit losses, and servicing costs for such loans, are aggregated and then divided by the average daily amount of aggregate outstanding principal. To annualize this cumulative return, it is divided by the dollar-weighted average age of the loans in days and then multiplied by 365.

All calculations were made as of September 30th, 2013. Seasoned Return is not necessarily indicative of the future performance on any Notes.


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Fresh Finance Group offer Best Deal Remortgages, Mortgages, Cheap remortgage quotes


Fresh Finance Group give REAL financial advice that’s regulated, we are not a price Comparisonsite!

Fresh Finance Group are able to provide you with an easy no obligation service to help you reassess your financial needs such as your mortgage protection arrangements. All you need to do is to enter your details on the form to the right and then submit it to us so that one of our experienced advisers can talk to you about your needs.

We are an established name in the financial sector with an ever-expanding portfolio of products designed to bring benefits to people who already own a home. Fresh Finance Group has an innovative approach centered on the needs of all our clients. Our emphasis is on customer care and saving money.

Lets not forget our aim is to work as hard as possible to ensure you get the most suitable deal. This is probably the reason why so many of our clients recommend us.

So why not let us do the hard work for you?

It is so easy, simply complete and submit the form opposite and we will get you the most suitable remortgage deal.

Within seconds our system generates a call-back from one of our experienced Mortgage Centre Consultants where they will require a little more information to arrange a no obligation consultation.

Maybe these facts may help you to decide.

Most of us could save £££’s each and every month by switching our mortgages.

It’s amazing how many of us will go miles out of our way to save a pound on the weekly shopping or a few pence on a tank of petrol but tend to overlook the huge savings we might make with a lower rate remortgage. With mortgage repayments usually our biggest monthly outgoing, even a small percentage lower could mean that the savings really begin to add up! Just think about how much you could save!

Shopping around for the best UK remortgage can be very hard work.

Given all the time, effort and frustration that shopping around for a remortgage can involve it’s no wonder many of us don’t bother! With 1000’s of different offers available it’s really hard work to find the most suitable UK remortgage deal.

If you are unsure about the best solution for you and need some assistance then please contact us or fill out the form on the right hand side of the page and we will contact you.

We feel strongly that our clients should be treated fairly. With this in mind we ask every single one of our client’s to complete a survey about the service they receive.

We are proud to say that 95% of our clients rate our service as excellent. Considering we are currently dealing with in excess of 1.9 million of mortgage business per month this is something we are truly proud of.

– Remortgages
– New Mortgages
– Raising Capital
– Debt Consolidation


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Charleston SC Bankruptcy Lawyer #law #firm, #law #office, #legal #advice, #lawyer,


Experienced Charleston, South Carolina, Bankruptcy Lawyer

When you face difficult financial challenges, life can seem overwhelming. Understand, though, that you are not alone, and we are here to help. At The Law Office of Lauren Clark, L.L.C. we work with clients in South Carolina who are dealing with issues of debt, foreclosure and financial situations that seem unmanageable. We want to do the same for you.

Bankruptcy laws are designed to protect you and to help you move forward to a more successful financial future. Attorney Lauren Clark will help you get started by reviewing your debt situation and advising you about your full range of options. If bankruptcy is the right solution for your circumstances, we will guide you through all phases of the process.

Contact The Law Office of Lauren Clark to schedule a free case evaluation. We are dedicated to providing high-quality legal services at reasonable costs to meet your specific needs.

Make Educated Decisions About Your Future With A Charleston Debt Relief Lawyer

The decision to file for bankruptcy is not a decision that most people anticipate making in their lives. Despite the fact that millions of people have successfully used bankruptcy as a tool for debt relief, there are still many myths and incorrect assumptions that dissuade some people from filing. You should not feel embarrassed about taking back control of your future. You have rights under the law, including the right to take action to get rid of debt, protect your property and restore your financial health.

Our law firm can walk you through every step of a Chapter 7 or Chapter 13 bankruptcy and help you address related issues of foreclosure, repossession, creditor harassment and lawsuits.

Contact The Law Office Of Lauren Clark, L.L.C.

Learn more about your debt relief options by speaking with a lawyer about the advantages and disadvantages of bankruptcy. For a free initial consultation, contact us by filling out our online form or by calling 843-284-7405 (local) or 855-684-8149 (toll free). We advise and represent clients in Charleston and the surrounding communities of South Carolina.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Why Choose Us?

  • We take the time to understand your specific circumstances.
  • You get personalized service from attorney Lauren Clark every step of the way.
  • No matter how complex your situation may be, we can help. We handle all aspects of consumer bankruptcy.
  • We provide a free case evaluation to help you understand your debt relief options.
  • If you ever have questions or concerns about your case, we are always accessible and ready to help.

Practice Areas


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How to Transfer a Credit Card Balance – ABC News #credit,




Yahoo!-ABC News Network | 2017 ABC News Internet Ventures. All rights reserved.

How to Transfer a Credit Card Balance

Here is what you need to know before and after a credit card balance transfer.

Credit card balance transfers can be an invaluable tool for managing credit card debt. This tactic allows cardholders to move their debt from a card with a high interest rate to one with a lower interest rate, or no interest charges at all.

While it’s not inherently complex to transfer a credit card balance, there are still several important things that cardholders need to be aware of before, during, and after.

Before You Transfer a Credit Card Balance

1. Make sure you keep up with all of your payments. This will allow you to maintain excellent credit and find a balance transfer offer with the best possible terms. The right card may be one you already have with a lower interest rate than the one you are using, or it may be a new card with a 0% APR promotional balance transfer offer. In fact, you may be able to get a promotional financing offer from one of your existing accounts, possibly in the form of a convenience check.

2. Understand all of the terms and conditions of the balance transfer. Know what the card’s credit limit is, its interest rate on balance transfers, and what the balance transfer fee will be. Balance transfer fees are typically 3 percent of the amount transferred, but not always. Chase Slate currently has the only 0 percent APR promotional balance transfer offer with no balance transfer fee, although others can have fees as high as 5 percent.

In the case of promotional financing offers, learn how long you have to complete a qualifying transfer, and the length of the promotional financing period. Typically, promotional balance transfer offers must be completed within 30 days to four months of the account opening, and can last from between six and 18 months. Keep in mind that even though the terms might not explicitly say so, banks will not allow balance transfers between their own accounts.

3. Make a plan. Come up with a sound financial plan for paying down your debt. otherwise your balance transfer is just another form of postponing your obligations.

Making the Transfer

Contact the bank that you are transferring the balance to and ask to perform a balance transfer. Be prepared to give the account information for the other card, and the total amount you want transferred.

After the Transfer

Continue to make at least the minimum payment required from the old credit card, and if you have paid your entire debt, make sure to get a statement from your bank. However, keep your old account open in order to maintain a low credit utilization ratio. which will help your credit score.

Most importantly, stick to the plan that you created to reduce your debt. Recognize that it probably will not be possible to take advantage of promotional financing offers over and over again.

By understanding some of the nuances of balance transfers, cardholders can use these offers to save as much money as possible on their credit card interest charges.

This work is the opinion of the columnist and in no way reflects the opinion of ABC News.


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Veterans Debt Relief Programs #debt #consolidation #for #veterans


Veterans Debt Relief Programs

Debt does not discriminate and military veterans often fall into debt because of health issues that occur during or after their military service. These issues often prevent them from earning a paycheck and can incur large medical bills. Unemployment and underemployment are additional causes of debt for many veterans. As of the date of publication, nearly 690,000 veterans were unemployed, according to

More than 62,000 U.S. veterans are homeless, reports.

credit: John Moore/Getty Images News/Getty Images

VA Debt Management Center

The U.S. Department of Veteran Affairs provides a wide array of services to veterans and their families, including mortgage loans, educational loans and health care programs. If a soldier who utilizes a VA program ends up owing the VA money, the VA provides several ways to pay the debt back or even have repayment waived. The waiver program requires the veteran or the veteran s immediate family or beneficiary to submit a letter explaining the reasoning for needing the debt forgiven. The VA also allows veterans to apply for compromise offers, through which the VA agrees to accept less than what is owed. Monthly payment plans allow the veteran to pay the debt down on a monthly basis.

Veterans’ Student Loan Debt Relief Fund

Sponsored by Scholarship America, the Kisco Foundation and Iraq and Afghanistan Veterans of America, the Veteran s Student Loan Debt Relief Fund gives money to soldiers from every branch to pay back student loans. The program specifically helps those soldiers who feel they have been victims of GI Bill fraud or have not received the full financial aid benefits promised from their schools. To be eligible, an applicant must have served at least 60 days since Sept. 11, 2001, and have applied for all other eligible help and aid available. A spouse or child using a soldier s GI Bill benefits is also qualified to apply. Award recipients receive up to $5,000 to pay off outstanding student loan debt. The relief fund application deadline has been extended a few times. As of the date of publication, applications were due by Jan. 15, 2015.

Leave No Veteran Behind

With its Retroactive Scholarship Program, the non-profit organization Leave No Veteran Behind gives veterans a chance to eliminate student loan debt. The Retroactive Scholarship Program pays off the entire student loans of several veterans each year. Veterans must have graduated from a post-secondary degree program and must show proof of financial hardship. In return for the money, the veteran agrees to complete 100 to 400 hours of community service.

Other Fee-Based Programs

A non-profit credit counselor, InCharge helps people from all backgrounds pay down their debt and offers special programs specifically tailored to military personnel, including veterans. InCharge s Military Money website includes free information on mortgages, military pay and benefits, saving for retirement and college, investing, and taxes. The organization also offers a debt management program, where InCharge helps a client reduce monthly interest rates by negotiating with each creditor. America s Debt Help Organization is another consolidation service that serves the same function by providing free educational resources along with a fee-based debt consolidation program.


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Help for IRS Tax Problems #irs #tax #problems, #irs #debt, #tax


Help for IRS Tax Problems

Ignoring IRS tax problems can be a costly mistake. If you owe back taxes and don t deal with your tax debt, penalties and interest will add up and the IRS may resort to liens, levies, or wage garnishment to recover their money. If you re in this situation, there is hope. The trusted tax professionals at Frank E. Nute CPA, LLC, a Edina, MN CPA firm, are ready to find a permanent solution to your tax problems with the IRS.

For most taxpayers, trying to deal with the IRS is stressful, confusing, and ultimately unsuccessful. But when you turn to Frank E. Nute CPA, LLC for assistance, we ll work directly with the IRS on your behalf. We know their rules, understand their tactics, and can speak their language to negotiate a fair payment plan or help you take advantage of an appropriate tax relief program.

Contact us at 952-405-2082 now or request a consultation online. We ll examine your situation and recommend a course of action that will resolve your tax problems as quickly as possible while minimizing the impact on your finances.

Our wealth of experience in tax resolution means we can assist with audits, resolve payroll tax problems, file back taxes and more.

We’ll work with the IRS on your behalf to find the best solution for you like an offer in compromise or installment agreement.

Trying to handle tax problems on your own is timely and confusing. You can trust our experience to get the job done.


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US credit card debt balloons to $917B: What it means #us


US credit card debt balloons to $917B: What it means

While rising debt issuance usually points to a strong economy, danger could be lurking ahead.

Last year, credit card debt in the U.S. surged by approximately $71 billion to $917.7 billion, according to a new study from The research also found that most of the debt accrued in 2015 came in the fourth quarter, when Americans tacked on more than $52 billion.

“With 7 of the past 10 quarters reflecting year-over-year regression in consumer performance, evidence is mounting to support the notion that credit card users are reverting to pre-downturn bad habits,” CardHub CEO Odysseas Papadimitriou said in a statement.

Fourth-quarter credit card debt also grew at its largest pace since the Great Recession, CardHub also said.

“It is something we need to keep an eye on if borrowing continues to grow rapidly,” said Scott Hoyt, senior director at Moody’s Analytics. He also said the implications of rising credit card debt would be similar to what happened in the recession, “when consumers became overly leveraged.”

David Santschi, CEO of TrimTabs Investment Research, said “it’s usually a good sign when. credit card debt is rising” because it usually means consumers are spending more money.

However, Steve Blitz, chief economist at ITG Investment Research, said this increase is “just a signal that there’s more people working,” adding that consumers are not necessarily taking on more debt.

“The willingness of an individual to increase their leverage is the ultimate vote of confidence in the economy,” he said.

The U.S. economy added 2.45 million jobs last year. In 2016, more than 400,000 positions have been created as of February, with the unemployment rate holding at 4.9, its lowest level in nearly eight years.

Nonetheless, wage growth remains stagnant. U.S. workers earned 3 cents less an hour last month.

“The drop in February [wages] was pretty sharp,” Santschi said. “The wage situation does not get as much attention as the headline number and the unemployment rate, but it’s evidence that the economy is basically flatlining.”

U.S. equities are lower for 2016, with the Dow Jones industrial average and the S P 500 both down more than 2 percent, while the Nasdaq composite has dropped more than 6.5 percent.


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Tech Credit Union #tech #credit #union, #tech #cu, #credit #union, #banking,

Tech Checking

Tech Checking gives you the features you expect, plus online and mobile banking services to help you manage your account from anywhere, anytime.

Secured Checking

If problems with NSF (Non-Sufficient Funds) fees have caused you to be listed in ChexSystems, you know getting a new checking account can be extremely difficult. And without a Checking account, you re forced to use budget-draining payment services like money orders or retail currency centers. Tech CU Secured Checking is designed to provide basic checking services to those who want to make an honest effort to manage their finances and take control of their money.

  • Free box of Tech CU security checks.
  • Tech Check Card (Visa debit) is available.
  • Free Tech Debit Alerts .
  • Free 24-hour account access via Online Banking Mobile Banking .
  • View and print images of cleared checks in Online Banking.
  • No per-check fee.
  • Optional overdraft transfer from savings.
  • Access your account at CO-OP Shared Branch locations nationwide
  • Ability to upgrade to regular Tech Checking after 6-months of properly maintaining this account.
  • Assistance with establishing Direct Deposit or Payroll Deduction to your account.

Secured Checking has the following requirements:

  • Those with a record of fraud at ChexSystems are not eligible.
  • Minimum daily balance requirement of $200 ($100 is held in Money Market Savings).
  • $5.00 monthly account service fee; $10.00 per month whenever the required minimum daily balance is not maintained.
  • Account e-Statement is required.
  • 7-business day hold on deposited checks.
  • $34.00 per NSF item returned.
  • $30.00 per stop payment.
  • $6.00 per overdraft transfer.
  • $5.00 copy of cleared checks.
  • Online Bill Pay service is not available.
  • Account will be closed for uncollected account fees.
  • Other account fees or restrictions may apply.

ChexSystems is a network made up of member banks and credit unions that regularly contribute information on mishandled checking and savings accounts to a central location. This information is shared among member institutions to help them assess the risk of opening new accounts. Each report submitted to ChexSystems remains on file for five years unless the source of information requests its removal or ChexSystems becomes obligated to remove it under applicable law.

Open A Checking Account Today

Your new checking account can be opened at any Tech CU branch.

  • To open a Checking account, a minimum of $25.00 must be on deposit in your Tech CU Money Market Savings account.
  • A $25 initial deposit is required to open (Tech Checking).
  • Present a valid driver s license with your correct mailing address.
  • Present your most recent pay-stub (if employed).
  • Your first box of checks is free and is mailed to your home within 7 to 10 business days from the time of account opening.
  • Tech Check Card and PIN is mailed (separately) to your home 2 to 3 weeks from the time of account opening. You also have the option of having these items mailed directly to the credit union for pick-up.

Contact Us

Branch ATM Finder

Education Center

Self Service

Rates Fees


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6 Risky Ways To Pay Off Credit Card Debt #settle #credit


6 risky ways to pay off credit card debt

The best way to pay off credit card debt

There are many strategies for paying off credit card debt. You could trim your spending and direct the extra cash to cut the debt. Or, you could make more than the minimum payment each month and be debt-free after several months of sacrifice.

But as with losing weight, there are shortcuts you don’t want to take to pay off credit card debt. Bankrate outlines six of them.

  1. Paying just the minimum.
  2. Taking money from retirement accounts.
  3. Robbing emergency savings.
  4. Tapping home equity.
  5. Skipping the mortgage payment.
  6. Taking out another loan.

Jamie Grill/Getty Images

No. 1: Paying just the minimum

If you want to get out of credit card debt, paying the minimum each month is the slowest way to get there. It’s also incredibly expensive.

For example, say you have $5,000 in debt on one credit card. Your interest rate is 15 percent, and your minimum payment is calculated by adding interest to 1 percent of the balance. If you pay the $112.50 minimum required each month, it will take 266 months, more than 22 years, to pay it off. And you’ll end up paying $5,729.21 in interest on top of the original balance.

You could get a personal loan to consolidate all the debt into a fixed monthly payment at rates that are usually lower than average credit card rates.

Portra Images/Getty Images

No. 2: Taking money from retirement accounts

Using retirement savings to pay off credit card debt is expensive.

Besides raiding your future financial security, you could owe taxes to the IRS if you withdraw tax-deferred money from certain retirement accounts. Additionally, you may incur a 10 percent penalty if you withdraw funds too early.

Instead, consider temporarily stopping contributions to your retirement account and use that additional money to pay off your credit card, says John Ulzheimer, a nationally recognized credit expert formerly of FICO and Equifax.

The interest you’re paying each month as balances roll from one month to the next is outpacing the returns you’re earning from your monthly contributions, he explains. Just remember to restart your contributions as soon as you clear your credit card debt.

No. 3: Robbing emergency savings

Remember that rainy-day fund? Fight the temptation to put that cash to use.

“Losing your job is an emergency. Paying off your credit card is not,” Ulzheimer says.

Draining your emergency fund to pay off credit card debt exposes you if a real emergency strikes. You could be vulnerable for a year or longer as you replenish the savings. What constitutes a real emergency? Things such as a medical issue, natural disaster or job loss.

Ulzheimer says if you feel compelled to use those funds, don’t wipe them out. Use a small portion along with other available cash as a stopgap for your credit card debt.

No. 4: Tapping home equity

There’s some debate as to whether pulling equity out of your house to pay off credit card debt is a good idea. Ulzheimer points out that many homeowners have traditionally tapped home equity to help pay for other debt such as credit cards. However, some homeowners may not even have that option because home prices have yet to rebound in their area.

“Put a check in the ‘careful’ column,” says Ulzheimer. “If you have equity, you don’t want to push yourself too close to 100% loan-to-value. You’re endangering your home.”

RATE SEARCH: A personal loan can be a viable alternative to tapping home equity to pay off debt. Check loan rates and estimate your monthly payments on Bankrate.

No. 5: Skipping the mortgage payment

Paying the credit card bill instead of the mortgage payment is also a huge risk and leaves you vulnerable to foreclosure.

Sadly, this strategy became more common after an unprecedented drop in home prices put more homeowners on the brink of losing their homes, says Barrett Burns, president and CEO of VantageScore Solutions, the company behind the credit-scoring model VantageScore.

It is all too common for families to depend on credit cards as lifelines to pay for the basics and get overextended. It’s OK to use credit cards in this way, as long as you can make the payments and keep those credit lines open, Burns says. It becomes a problem when keeping the lines open means missing a mortgage payment.

Credit card issuers are quick to shut down delinquent credit lines because they are unsecured debt. The road to foreclosure, by contrast, is much longer, and many homeowners recognize they could have as long as a year before they are evicted. Still, a house is most Americans’ largest asset, and jeopardizing it to save a credit card could come back to haunt you.

PhotoAlto/Eric Audras/PhotoAlto Agency RF Collections/Getty Images

No. 6: Taking out another loan

Avoid payday loans at all costs, Ulzheimer says. Title loans, or loans against a car, are usually too costly to pay for overspending.

However, Ulzheimer recommends considering a signature loan, or unsecured personal loan, from a bank or credit union.

You’ll want to make sure you can qualify for this type of loan at a reasonable rate and an affordable minimum payment. Sometimes the rate is better than a credit card. And be ready to give proof that you have the income to pay back the loan.

The drawback? These loans typically come in small amounts, from $1,000 to $35,000. So, if your credit card debt is huge, a signature loan may not cover it all.

How we make money is an independent, advertising-supported publisher and comparison service. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. does not include all companies or all available products.

2017 Bankrate, LLC All Rights Reserved.

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Online Loans South Africa – Home Loans #home #loans,personal #loans #bad


Home Loans – Approved Loans

What is a Home Loan?

Every person wants a home, may it be an apartment, a mansion or just a simplex. Whether you are refinancing a bond/mortgage or purchasing your little paradise, you sure will need to have a home loan that you is just right for you. There are a lot of financial institutions or lending companies or even banks which offer hassle- less home loan processing.

First time home buyers usually get a home loan more easily. There is a wide variety of programs that have restrictions that come with the contract. Others find this too perfect for them, but for some, this may be a wrong choice.

First time home buyer loan

All first- times can be a big deal. It consumes too much time, effort and money. Some people usually seek the aid of a first time home loan to hurdle the issues with money. The program varies depending on the location but generally, the idea of a first time home loan is to give qualified borrowers the financial assistance.

Some financial institution would offer the home loan in the following way:

  • Low to no down payment
  • Limit fees
  • Defer payments and offer grants
  • Subsidize the cost of the interest

These are but a few examples of the benefits first time home buyers may take advantage of but take note that not everything in the list can be made available for you to take advantage of.

Who can take advantage of a home loan?

Anyone can take advantage of a home loan; but first time home owners are good candidates. Some programs usually offer home loans to people who have not owned a home within the last 3 years. Again, programs vary depending on the area so it is good to check if any lending company or institutions offer this in you area.

Are there any restrictions?

Like any other, home loans also have restrictions. Most of home loan programs put a R limit on the property that you are going to purchase. You may not be able to get a home loan for the most expensive property round the town but you will instead be limited to properties that are at the bottom of the pyramid. The idea is to provide margin and benefit to people who are in dire need.

It is not advisable to use the first time home buyer loan for a rent. You are given the opportunity to own a home so grab it. Finally, the house that you are to purchase must also meet some physical requirements.

The challenges.

You may be faced with a few challenges when getting a first time home buyer loan:

  • The home may not be the home you want
  • You may lose the benefits if you sell your house too soon
  • Paying tax for some benefits you received
  • Shared home value increase with the program you signed up with

With these restrictions, you will be armed with knowledge when you decide to get a home loan for you family. It is a must for you to find out the ups and downs of something before you even decide of saying yes to it.

Home Loan FAQs

A home is an important asset especially if you have a family. This is where you raise your children, eat, sleep and entertain family and friends. Owning a home is better than renting since you are building up equity. Is a home loan right for you then?

There are First Time Home Buyers programs out there. Check with the local lenders to find out.

You can often refinance at local bank with no closing cost home equity loan. That is, provided that you meet standard ratios of debt to income, that you have adequate equity in the home, and that your credit is very good. If you do not meet these qualifications, then you need to go elsewhere for a more traditional home equity loan.

The structure is not uncommon. Most often than not, the buyer has little to put down.

The credit score will be a bit low so the buyer will be hit by a high interest rate.

Watch out for prepayment penalties as that is also common with such a deal when the credit score is average to low.


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Should I Consolidate Credit Card Debt? #how #can #i #consolidate #debt


Should I Consolidate Credit Card Debt?

If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment. However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan. Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation.

Read on to learn more about whether credit card debt consolidation is right for you.

(To learn more about managing credit card debt, see out topic on getting out of credit card debt .)

What Is Credit Card Debt Consolidation?

Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment. You can do this by taking out a consolidation loan or using a debt consolidation or management company.

How Does Credit Card Debt Consolidation Work?

When you obtain a debt consolidation loan, you pay off all of your outstanding credit cards with its proceeds. This means that instead of owing money on multiple credit cards, you now have a single obligation. The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.

Should I Use a Debt Management Company to Help?

There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

Typically this is how these companies work: Instead of obtaining a new loan to pay off your credit cards, the debt management company tries to negotiate with the credit card companies to reduce your interest rates or otherwise lower your monthly payments. Each month, you make a single payment to the debt consolidation firm and it distributes a portion of your payment to each of your creditors. Usually, it also keeps a portion (or sometimes all) of your payment to cover its own fees.

While there are some legitimate companies that provide this service for a very low fee, many companies charge huge fees and do little on your behalf.

(You can learn more about debt management and debt negotiation companies in our Debt Settlement Negotiation topic area.)

Is Credit Card Debt Consolidation Right For You?

Below are some of the main factors you should consider when deciding whether consolidating your credit card debt is in your best interest.

Can You Afford to Pay Off Your Credit Cards?

Consolidating your credit card debt does not eliminate it. Even if the consolidation reduces your monthly payment, you still have to pay off all of your debt. So if you don t have regular income or can t afford your monthly payment, consolidating your credit card debt will not help you get back on track.

If you can t afford to pay off your credit cards, consider other alternatives such as debt negotiation (which can reduce the balance on your credit cards) or bankruptcy .

Will Consolidating Your Credit Card Debt Reduce Your Interest Rates?

One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.

Will It Take Longer to Pay Off Your Debt If You Consolidate?

By consolidating your credit card debt, sometimes you can significantly reduce your monthly payment. However, don t assume that your payment went down solely because of a lower interest rate. If your new monthly obligation is substantially lower, it usually means a longer repayment term.

If your repayment term is extended when you consolidate, it may take you significantly longer to pay off your credit card debt. While it may be nice to have a more manageable monthly payment, it also means paying more interest over the life of the loan. Review the terms of your consolidation carefully before deciding that it is the right choice for you.

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Tax Topics – Topic 453 Bad Debt Deduction #business #bad #debt


Topic 453 – Bad Debt Deduction

If someone owes you money that you can’t collect, you may have a bad debt. For a discussion of what constitutes a valid debt, refer to Publication 550. Investment Income and Expenses . and Publication 535. Business Expenses . Generally, to deduct a bad debt, you must have previously included the amount in your income or loaned out your cash. If you’re a cash method taxpayer (most individuals are), you generally can’t take a bad debt deduction for unpaid salaries, wages, rents, fees, interests, dividends, and similar items. For a bad debt, you must show that at the time of the transaction you intended to make a loan and not a gift. If you lend money to a relative or friend with the understanding the relative or friend may not repay it, you must consider it as a gift and not as a loan.

There are two kinds of bad debts business and nonbusiness.

Business Bad Debts – Generally, a business bad debt is a loss from the worthlessness of a debt that was either created or acquired in a trade or business or closely related to your trade or business when it became partly to totally worthless. You can deduct it on Form 1040, Schedule C (PDF), Profit or Loss from Business (Sole Proprietorship) . or on your applicable business income tax return.

The following are examples of business bad debts (if previously included in income):

  • Loans to clients and suppliers
  • Credit sales to customers, or
  • Business loan guarantees

A business deducts its bad debts, in full or in part, from gross income when figuring its taxable income. For more information on methods of claiming business bad debts, refer to Publication 535. Business Expenses .

Nonbusiness Bad Debts – All other bad debts are nonbusiness. Nonbusiness bad debts must be totally worthless to be deductible. You can’t deduct a partially worthless nonbusiness bad debt.

A debt becomes worthless when the surrounding facts and circumstances indicate there’s no reasonable expectation of payment. To show that a debt is worthless, you must establish that you’ve taken reasonable steps to collect the debt. It’s not necessary to go to court if you can show that a judgment from the court would be uncollectible. You may take the deduction only in the year the debt becomes worthless. You don’t have to wait until a debt is due to determine that it’s worthless.

Report a nonbusiness bad debt as a short-term capital loss on Form 8949 (PDF), Sales and Other Dispositions of Capital Assets . Part 1, line 1. Enter the name of the debtor and “bad debt statement attached” in column (a). Enter your basis in the bad debt in column (e) and enter zero in column (d). Use a separate line for each bad debt. It’s subject to the capital loss limitations. A nonbusiness bad debt deduction requires a separate detailed statement attached to your return.

For more information on nonbusiness bad debts, refer to Publication 550. Investment Income and Expenses . For more information on business bad debts, refer to Publication 535. Business Expenses .

Page Last Reviewed or Updated: April 14, 2017


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Underlying – definition of underlying by The Free Dictionary #debt #relieft



No great underlying purpose lay back of his habitual silence, and he had no definite plan for his life.

And, underlying all, deeper than anything else, higher and broader, lay the strongest principle of her being–conscientiousness.

There was a soft, underlying tenderness in Magdalen’s assumed gayety of manner — there was a sudden thoughtfulness in her face, a confidential readiness in her hand, as she took Frank’s arm and went out to the carriage.

Her strong black brows spoke of temper easily aroused and hard to quiet; her mouth was small, nervous and weak; there was something dangerous and sulky underlying. in her nature, much that was honest, compassionate, and even noble.

Sweet it was in one sense, honey-sweet, and sent the same tingling through the nerves as her voice, but with a bitter underlying the sweet, a bitter offensiveness, as one smells in blood.

In both words the underlying idea is that of a body of men united by an oath.

The ardent modulations of the sound, the slight play of the beautiful lips, the still, deep sapphire gleam in those long eyes inherited from the dawn of ages and that seemed always to watch unimaginable things, that underlying faint ripple of gaiety that played under all her moods as though it had been a gift from the high gods moved to pity for this lonely mortal, all this within the four walls and displayed for me alone gave me the sense of almost intolerable joy.

Publications: “Some Observations Upon a Series of Kalmuck Skulls”; “Outlines of Vertebrate Evolution”; and numerous papers, including “The underlying fallacy of Weissmannism,” which caused heated discussion at the Zoological Congress of Vienna.

Archer was proud of the glances turned on her, and the simple joy of possessorship cleared away his underlying perplexities.

For I did not see the grief underlying the scorn, but actually found it in my heart to pity this poor devil of a Rattray: so humbly fell those fine eyes of his, so like a dog did he stand, waiting to be whipped.

But underlying this thought, the first and most simple one, no doubt, there was in our opinion another, newer one, a corollary of the first, less easy to perceive and more easy to contest, a view as philosophical and belonging no longer to the priest alone but to the savant and the artist.

Of the rest of the audience, many had understood the allusion and wondered both at the daring of the lady and at the motive underlying it, but tried to show no sign of their feelings.


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Freedom Debt Relief Review – Consumer Reports #free #debt #services


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Freedom Debt Relief, Behind The Hype

The real deal

Freedom Debt Relief (FDR) claims to be a leader in the debt-settlement industry and says it has helped consumers erase more than $500 million in debt since 2003. (FDR is also an umbrella group that includes, Freedom Financial Network, Freedom Tax Relief, and several others.) It operates like other settlement companies often do. Customers deposit about 15 percent of the amount they owe into a bank account and give FDR power of attorney so that it can access the money to settle their debts.

A 2009 lawsuit brought by the district attorney’s office in San Mateo, Calif. charged that the company often did not even contact all of the consumers’ creditors to negotiate a settlement. After months of being told FDR was settling their accounts, many consumers found that creditors had sent their accounts to a collection agency or had initiated legal actions against them, the suit alleged. It also charged that many clients never finished the debt-relief program, even after months or years. But Freedom Debt Relief continued to charge them for administrative and service fees for about the first 18 months the accounts were open. In addition, the suit said, customers who wanted to find out the status of their settlements were often rebuffed by the company, and some were denied the money-back guarantee it advertises.

To settle the lawsuit, FDR agreed to pay the San Mateo County district attorney’s office and the California Department of Corporations $450,000 in fees and court costs and $500,000 in refunds to customers without admitting wrongdoing.

As a result of the suit, an earlier complaint by the California Department of Corporations alleging that FDR operated in the state for seven years without a license, in violation of a 2002 desist and refrain order, was withdrawn. FDR has also been forced to refund money to customers in Colorado and Rhode Island. And New York’s attorney general is investigating FDR and 13 other debt-settlement firms.

The bottom line

People who are deep in debt should first talk with each creditor to see if it has a plan for hardship cases that might allow them to reduce their payments. If collection agencies are calling, try to negotiate a reduction in principal, which is what a debt-resolution company promises to do. If you’re successful, you may have to pay taxes on the total that was forgiven.

If you can’t handle negotiating with creditors on your own, find a nonprofit credit counselor through the National Foundation for Credit Counseling, at . or by calling 800-388-2227.

If those strategies don’t work, you may want to declare bankruptcy. Contact the American Bankruptcy Institute ( ) or the National Association of Consumer Bankruptcy Attorneys ( ) to find an attorney who can help you.


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Debt Management Plans (DMP) #free #debt #management #plan


Debt Management Plans (DMPs)

What is a Debt Management Plan and how to let PayPlan shoulder the worry of dealing with your creditors

A Debt Management Plan, or DMP, is an informal arrangement whereby you agree to pay back your debts but at a reduced amount. You can either set up a plan with your creditors directly or use a debt management company to help deal with your creditors on your behalf. In a PayPlan DMP you make one monthly payment based on what you can afford and this amount will be divided amongst your creditors, ensuring all of your debts are being paid.


Looking for free debt help? Fill in our quick 3 step form and one of our friendly advisers will be in touch.

We can help you!

To get personalised free debt help and advice on your options to becoming debt free simply enter your details below:

Unlike most debt management companies, PayPlan does not charge fees for setting up and handling debt management plans. So you’ll pay no set-up fee or no monthly fees – allowing all of your regular payments to go towards repaying your debt.

Is a debt management plan right for me?

A debt management plan is an informal agreement between you and your creditors whereby you agree to repay your debt in reduced payments that are more affordable for you.

It could be the right solution for you if you have more than £4,500 in unsecured debts and if you are struggling to make the repayments. All debt will be repaid and there is no obligation to release equitable interest or other assets to your creditors.

It might not be the right solution for you if you have a higher amount of debt as depending on how much you can afford each month, it could take you a lot longer to repay back your debts. When you call PayPlan we will advise you of all the available options so you can see whether there is an alternative option that will get you out of debt quicker.

If you are unsure of what is the best option for you, contact PayPlan to discuss your options with our friendly team.

Why choose a PayPlan DMP?

PayPlan don t charge their customers anything for their DMP services because we believe every penny you pay should go towards your debts. With lots of fee charging companies closing down, we have created an online DMP calculator so you can see how much money you could save if you opted for a free debt management plan.

Simply move the sliders to show the percentage you pay to your current debt management company and to show how much you currently pay into your DMP. Our debt management plan calculator will use these figures to work out how much more money you could be repaying towards your debts.

What to expect from a FREE debt management plan with PayPlan?

Single, affordable, regular payments

You make just ONE PAYMENT every month, at the most convenient time for you – for many people this is just after they’ve been paid. We then use this payment to pay all of your creditors. Read more below if you need help with debt management plans

Convenient online tracking

You can check the progress of your plan at any time on PayPlanPlus.
This free online service enables you to keep tabs on all the payments you make, the amount that has been paid to all of your creditors and allows you to see an estimated time scale of when your debt will be repaid.

Freezing of interests and charges

While PayPlan cannot guarantee to get interest and charges frozen in all cases, we will talk to your creditors and ask them to freeze interest and charges while you make your repayments. We have an excellent reputation within the credit industry and use this to help you.

Friendly and experienced staff

You’ll find our trained advisers understanding of your situation and ALWAYS ON HAND to assist you with any questions you have about your debt management plan.

How about the small print ?

We always ensure our clients are aware of, and understand, all aspects of the debt solutions we advise on. So before committing to a Debt Management Plan, you should be aware that failure to keep to your agreed repayment terms will result in your plan being cancelled. If you fail to meet your payments your creditors might also look to take legal action against you to ensure they get some form of repayment from you.

By entering into a DMP your regular repayments may be lower, however your repayment period could be longer and the total amount payable higher. This is why when you contact us we will always look at a range of solutions – we want you to get out of debt as soon as you can so you can start enjoying your life again.

Like the majority of debt solutions, entering into a Debt Management Plan will affect your credit rating. A DMP is not a formal agreement so creditors do not have to accept the proposal and they can continue to register defaults until you have repaid all your debt. With some debt solutions, your credit rating will only be affected for a period of time. However with a DMP your credit rating could be affected for 6 years from the date of the last Default Notice issued against you, which your creditors can issue at any point during the plan.

PayPlan Debt Management Plan reviews

PayPlan is a trading name of Totemic Limited. Totemic Limited is a limited company registered in England, Company Number: 2789854. Registered Office: Kempton House, Dysart Road, PO Box 9562, Grantham, NG31 0EA. Totemic Limited is authorised and regulated by the Financial Conduct Authority. Financial Conduct Authority Number: 681263. Totemic, the Totemic logo, PayPlan and the PayPlan Logo are all trademarks of Totemic Limited.

Totemic Limited refers customers to Payplan Partnership and Payplan Bespoke Solutions for Individual Voluntary Arrangements:

Payplan Partnership Limited is a limited company registered in England, Register No: 7199691 Registered offices: Kempton House, Dysart Road, PO Box 9562, Grantham, Lincolnshire, NG31 0EA. Licensed Insolvency Practitioners: JN Harrison FCA MIPA FABRP Licensed by Insolvency Practitioners Association (UK): K W Marland MIPA FABRP Licensed by Insolvency Practitioners Association (UK).

Payplan Bespoke Solutions Limited is a limited company registered in England, Register No: 7079646 Registered offices: Kempton House, Dysart Road, PO Box 9562, Grantham, Lincolnshire, NG31 0EA. Licensed Insolvency Practitioner: NT Payne ACA FCCA MIPA MABRP Licensed by Insolvency Practitioners Association (UK).


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DMB Financial, The Leader in Debt Settlement & Debt Relief #tax


You Want To Get Out Of Debt. We Can Show You How.

You have debt.

We have your best option.

Your focus should be on paying off your debt quickly and at the lowest cost to you. By continuing to just pay your minimums, you’ll pay two or three times what you owe and it will take, on average, over 30 years to pay it back. An unsecured loan might help if you owe less than $25,000, but you’ll have a 30% interest rate and pay back twice what you borrow. Make the smart financial decision to restructure your debt based on terms you can afford and for less than what you currently owe.

You have debt.

We have your best option.

Your focus should be on paying off your debt quickly and at the lowest cost to you. By continuing to just pay your minimums, you’ll pay two or three times what you owe and it will take, on average, over 30 years to pay it back. An unsecured loan might help if you owe less than $25,000, but you’ll have a 30% interest rate and pay back twice what you borrow. Make the smart financial decision to restructure your debt based on terms you can afford and for less than what you currently owe.

You’re in good company

Talk is cheap. Results are what matters. And, it’s why our clients refer us to their friends.

If you have debt, you owe it to yourself to call DMB to see if debt settlement is right for you. We’re glad we did.

DMB not only cleared up my debt, but helped me to understand the missteps that got me into debt!

Real people who are there for you.

Our experienced, friendly team is always working for you. Real people who’ve been doing this for more than a decade. A team who’s average tenure is over 5 years! In a world of technology and automation, it’s nice to know that you can connect with your dedicated representative whenever you have questions.

You learn a lot helping over 25,000 manage more than $800 million of debt and you become a leader in the industry by putting your clients first. And, that’s what DMB does. Every day. We work for you, not the credit card companies, debt collectors or any lender. We work with you to help you take control of the debt that’s taken control of your life. Our programs are designed to help you create and stick with a plan that helps you achieve your goals. And, your dedicated client services representative will be by your side every step of the way.

Getting real results for you.

Having started in 2003, we’re one of the oldest and most respected debt relief companies in the country. We have an A+ rating with the Better Business Bureau and are an accredited member of the American Fair Credit Council. It is our charter and goal to help you take control of your debt and restructure it in a way that’s smart, fast and affordable. See what we’ve done for our clients recently……


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World debt comparison: The global debt clock #be #in #debt


World debt comparison

The clock is ticking. Every second, it seems, someone in the world takes on more debt. The idea of a debt clock for an individual nation is familiar to anyone who has been to Times Square in New York, where the American public shortfall is revealed. Our clock (updated September 2012) shows the global figure for almost all government debts in dollar terms.

Does it matter? After all, world governments owe the money to their own citizens, not to the Martians. But the rising total is important for two reasons. First, when debt rises faster than economic output (as it has been doing in recent years), higher government debt implies more state interference in the economy and higher taxes in the future. Second, debt must be rolled over at regular intervals. This creates a recurring popularity test for individual governments, rather as reality TV show contestants face a public phone vote every week. Fail that vote, as various euro-zone governments have done, and the country (and its neighbours) can be plunged into crisis.

  • This interactive graphic displays gross government debt for the globe. The clock covers 99% of the world based upon GDP. It uses latest available data and assumes that the fiscal year ends in December.
  • Debt figures are derived from national definitions and therefore may vary from country to country.
  • The clock shows the estimated debt at the point corresponding to the current date and time in whatever year you are viewing; this is why it increases even when you view past or future years.
  • All data is mapped on modern borders (Montenegro split from Serbia in 2006, Kosovo in 2008. South Sudan split from Sudan in 2011. Data for these countries are included in their parent nations’ prior to these dates).

It appears from the chart that the more assets of a country are distributed among its citizens the more the country is in debt. If this is true, then advanced economies serve the individual (i.e. Capitalism) while dictatorial economies serve the boss/dictator. Is there any solution?

CJ Lives Oct 6th 2010 16:02 GMT

I would say it matters.

When you owe someone thirty-nine hundred dollars, that’s your problem. When anyone owes anyone thirty-nine TRILLION dollars, I think it’s the problem of the debtor, the creditor and pretty much anyone else in any way associated with the global economy, i.e. all of us.

As we saw in 2008, when lots of people have been operating on the expectation of receiving payments from other parties which suddenly prove unable to meet their obligations, the result is messy even when no “real” value has been created or destroyed at any point in the process.

Global debt is not a very meaningful figure since it is all – quite obviously – owed to earthlings. If we’d borrowed from aliens then “global debt” would be cause for alarm. Suppose the aliens came collecting?

D. Sherman Oct 6th 2010 16:16 GMT

This is an interesting figure, and one that would be more interesting if we were given more information on how it was calculated. For example, in the US, does “public debt” include only that of the federal government, or also that of the states, which as I understand it is collectively on the same order as that of the feds. Also, if we’re looking at the overall indebtedness of all the world’s governments, shouldn’t debts owed by one government to another be excluded, since they’re essentially internal to the system we’re studying?

Either way, in round numbers this works out to around $10,000 for each person on the planet. If we were ever to consider paying this debt off, that’s how much we’d have to collect, on average, from each person. Given that we’d do well to collect $10,000 apiece from the richest few people in the richest few countries, and given that over half the world’s people have no income at all at a level that would interest a tax collector (less than $1000 per year gross), paying off this debt seems patently impossible. So, we will never pay it off, but we may continue to pay interest on it forever, which will result in significant international cash flows with attendant distorting effects on economics, politics, and society. Interest might be estimated at $500 per year per person, which is probably manageable, on the average, for a while, especially since the richest countries owe the most. The problem, of course, is that debt is growing faster than population or prosperity which means that eventually something must change. Pinpointing when that will happen is an exercise that will be left for the reader.

willstewart Oct 6th 2010 16:20 GMT

In fact it would be much better if we owed this to aliens; then we could default!

As it is we can only default by impoverishing ourselves. In fact one could surely see the phenomenon in that way; we are just less wealthy than we think we are. And our children will be less wealthy still – unless they decide to default by not paying our pensions/health bills.

doublehelix Oct 6th 2010 17:00 GMT

I don’t know what criteria the authors used to define ‘debt’, but the total unfunded liability of the US Federal government alone is somewhere on the order of 130 to 140 trillion dollars when all entitlement spending obligations are considered (give or take a few trillion). This completely eclipses the paltry 40 trillion number touted above as the entirety of global debt.

All lovely things will have an ending, All lovely things will fade and die; And youth, that’s now so bravely spending, Will beg a penny by and by.
– Conrad Aiken

Raise the retirement age for social security.
Freeze medicade/medicare spending.
Force revisions to pension contracts help by government employee labor unions.

Problem solved in the US.

Remember folks, government employment is nothing more than an extension of welfare.

ZenchL Oct 6th 2010 17:57 GMT

my understanding from this chart is that political stability decides economical stability. Governmental complexity decides public spending. Democracy borrow more than oligarchy.

TRHart Oct 6th 2010 18:13 GMT

“Remember folks, government employment is nothing more than an extension of welfare.”

What? This makes zero sense. Most government workers are performing some task that they are getting paid for while people on welfare are not working at all. These have zero correlation.

By your logic, the president, all our soldiers and all US diplomats are on welfare. I guess this should all be done by the private sector right. LOL!

naco22 Oct 6th 2010 18:35 GMT

Guys, come on! “Fight Club” already told us how to fix the problem! Something about blowing up the credit card buildings to reset the debt record back to zero.

Kidding, of course. The point is, clearly a revolution in thinking about finance, and even value creation itself will be required. Whatever shape the solution takes doesn’t matter so much as that we navigate the transition without violence, for a change.

What about the opposite side, the global public credit?

China has debt, but even largest credit.

Algeria shows negative values in 1999? His debt was reduced to half in 2001, but colored worse (clearer).

Argentine debt increased 22% since 2001, despite being “financially isolated”, and despite it, is colored clearer than in 2001.

This chart “predicts” that argentine debt will jump to 40% over 2001 value in 2011. Who will lend 20 billion to Argentina this year? It’s obviously false.


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6 ways to get out of debt fast #get #out #of


6 ways to get out of debt fast

6 ways to get out of debt fast

When it comes to tackling debt, most of us know what to do: Spend less . save more. But if it were really that simple, Canadians wouldn’t be so mired in red ink. Stephanie Holmes is a Nova Scotia-based financial advisor and author of Diffusing the Debt Bomb and $pent. who recognizes that there is no easy answer to any debt problem.

Holmes offers small tweaks that will help you speed up your repayment and get out of debt faster.

6 ways to get out of debt:

1. Pay bills every pay day
Most debt statements are due monthly, but most salaries are paid every two weeks. So pay part of every bill, every time you get paid. Benefit: smaller amounts feel more manageable and the chance of missing a payment (and incurring a penalty and more interest) is reduced.

Automate bill payments so that you pay your creditors without having to write a cheque or log on to an online account.

Ratchet it up a notch: Let’s say your credit card minimum payment is $100. Pay $60 every two weeks and you’ll make more headway with over payments you barely notice.

2. Change your debt structure
When it comes to debt vehicles and the lending institutions that have extended them, “the fewest number possible means the least amount of effort and stress,” says Holmes.

If you want to get out of debt . get rid of the retail credit cards, since they have onerous interest rates compared to those from major lenders. Two credit cards should be enough; close the rest. You’ll pay less in annual fees.

3. Start a debt ‘snowball’ plan
Make a list of your debts (excluding your mortgage), starting with the smallest balance and ending with the highest. Make the minimum payments on all your debts, but make an extra payment on the one with the smallest balance. When that debt is paid off, divert the payment you were making on it to the next debt on the list. By the time you get to the second and third debts, you’ll be making significant payments to the principal, which is the only way to actually eliminate a debt.

Holmes recommends the website “I love it,” she says. “It’s a neat little calculator that when you press ‘solve’, it gives you a table so you can literally see how fast you could pay off that debt.” When a debt is paid off, close the account associated with it.

The success of snowballing is based on the assumption that you can afford the minimum payments on all your debts. (If you can’t, consider credit counseling.)
4. Start a debt ‘stacking’ plan
Make a list of your debts (excluding your mortgage ), starting with the one that has the highest interest rate. Make the minimum payments on all your debts, but make an extra payment on the one with the highest interest rate. When that first debt is paid off, divert the payment you were making on it to the next debt on the list.

Since most credit card interest is compounded, you will save money focusing on interest rates. If, however, you need quick gratification, the encouragement of small successes (a credit card statement that finally reads “balance: $0”), to commit, ‘snowballing’ might be more lucrative for you.

Bottom line: pick the plan you can stick to. That’s the one that will help you get out of debt fastest.

5. Sign up for an ‘all-in-one’ account
All-in-one accounts replace the traditional scenario of a mortgage and separate checking and/or savings accounts with a single account that includes your mortgage and into which your salary is deposited.

“It’s a giant line of credit with checking and savings accounts attached,” says Holmes. The advantage is that deposits earn interest every day. These small amounts add up and are automatically applied to your debt.

You do have to be disciplined though, because “you’re walking around with a debit card attached to your house,” says Holmes. Here’s what she does to protect herself: “Every week, I move a certain amount automatically to my checking account held at a different institution,” she says. That is the money she spends — no more — leaving the rest in the all-in-one.

“It creates a vicious cycle in the right direction,” says Holmes. “Every penny of interest is going toward debt repayment.”

6. Rent things
“Let go of the idea that owning is better ,” says Holmes. This is especially true for depreciating assets, the largest of which is probably your car. It’s unrealistic to think people will go from commuting to taking public transit, but in larger cities, long-term car rentals or car co-ops can be cheaper than owning.

If you can find a monthly rental for the same price as your lease payment, and use insurance attached to one of your credit cards (many include this coverage as a standard feature; car co-ops include insurance in their rates), you’ll save money that can be diverted to paying down debt.

This also applies to tools that pile up at home. How often do you use that drill, reciprocating saw and palm sander? You’ll clear out square footage by off loading these items on CraigsList. You’ll also make a dent in your debt (by putting the money you get on the principal) and free up enough cash to rent the items if you need them again. (You won’t need them again.)



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Transfer your credit card balance #balance #transfer,transferring,credit #card #debt,save #in #interest,calculate


Transfer your balance

What is a balance transfer?

A balance transfer involves moving the outstanding balance from your non-ANZ credit or store card account to an ANZ Low Rate Visa. You can choose to transfer the balance of your credit or store card balance to ANZ and pay just 1.99% p.a. for 12 months* on that balance.

Transferring your balance to a card with a lower interest rate such as the ANZ Low Rate Visa can help you save on interest.

Calculate how much you can save in interest by transferring your balance to ANZ

All you need to do is let us know how much you owe on your existing credit card and what interest rate you’re currently paying.

Balance Transfer calculator

Balance to transfer: Min $100

Your current interest rate: % p.a.

By transferring your balance to an ANZ Low Rate Visa, you could save:

$X.XX Over 12 months

This is an estimate only and is based on the information you have entered, and is not an offer of finance by ANZ. The ANZ Low Rate Visa requires a minimum monthly payment of 3% (minimum $10) of the outstanding balance by the due date each month. This guide takes into account the minimum monthly repayment of 3% to estimate the amount you could save but otherwise assumes no other repayments are made. Savings only apply to the amount transferred and don’t take into account any further card transactions. Savings are calculated using ANZ’s balance transfer interest rate of 1.99% p.a. After twelve months our standard purchase interest rate for ANZ Low Rate Visa (currently 13.90% p.a. will apply to any remaining balance transfer amount. Actual savings may vary, particularly if you do not meet (or repay more than) the minimum repayments each month. A half-yearly card fee of $17.50 applies.

How does a balance transfer work?

What happens once my application for a balance transfer is approved?

We will work with your other card provider to transfer the balance on that card to your new ANZ card – that process will be complete within 14 days of us receiving your application.

In the meantime, while your balance transfer is being processed you’ll need to continue making any payments due on your old card (if you don’t you may be liable for overdue payment or interest fees from your existing card provider).
We’ll send you a letter to let you know when your balance has been transferred.

How will my payments be allocated if I have a balance transfer?

When you make a repayment to your new ANZ card, it will be applied to the transferred balance first. Once your transferred balance has been paid off in full, repayments will be applied to any new purchases or cash advances on your card. (This means that until your transferred balance is paid off in full, you won’t get any interest-free days on new purchases).

Will my other card be closed automatically?

We can’t close your other card for you – you’ll need to contact the provider and ask them to close it. Until it’s closed you’ll continue to be liable for any repayments and fees due. Remember to check that all direct credits or debits have been redirected to your ANZ card account before you close your old one.

How much can I transfer?

You can balance transfer any amount greater than $100, and up to 95% of the approved credit limit on your ANZ credit card. That’s to ensure there’s a buffer to cover any charges such as fees or interest that could be charged subsequently.

What does the balance transfer interest rate apply to?

The special balance transfer interest rate only applies to the balance you’re transferring from a non-ANZ card to your ANZ card. For all other purchases or cash advances on your new card, the standard interest rate for that card applies.

You can transfer your balance from any non-ANZ Visa and MasterCard, American Express, GE CreditLine, Q Card, Farmers Card and most other store cards.


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Unsubordinated Debt financial definition of Unsubordinated Debt #senior #debt


senior debt

Senior debt

Debt whose terms in the event of bankruptcy. require it to be repaid before subordinated debt receives any payment.

Senior Debt

A debt that has higher priority compared to another in the event of liquidation. That is, if a company goes bankrupt and is liquidated, holders of secured debt must be paid before holders of unsecured debt. In this case, the secured debt is senior debt with respect to the unsecured debt. It is a type of senior security. See also: Absolute priority rule .

senior debt

A class of debt that has priority with respect to interest and principal over other classes of debt and over all classes of equity by the same issuer. In the event of financial difficulties or liquidation of the borrower’s assets, holders of senior debt will have a priority claim. Most loans from financial institutions and certain high-grade debt securities such as mortgage bonds are senior debt. Because senior debt has a relatively secure claim, it is less risky from the point of view of the lender and it pays a lower rate of interest compared with debt of the same issuer having a subordinate claim. Compare junior debt .

Link to this page:

The capital securities are debt instruments, which are subordinated to the company’s unsubordinated debt obligations and treated as equity in the consolidated financial statements under IFRS.

ETN’s are a type of unsecured, unsubordinated debt security and have characteristics and risks similar to fixed income securities.

iPath ETNs typically have a 10 to 30-year maturity and are senior, unsecured, unsubordinated debt securities issued by Barclays, linked to the performance of a market index.

A Northern Rock spokesman said the additional guarantees were designed to maintain the credit ratings on the bank’s unsubordinated debt. adding that if they were activated, the cost to the Treasury would be “a few hundred millions of pounds”.

The guarantee will rank equally in right of payment with all of CVRD’s other unsecured and unsubordinated debt obligations.

The notes are unsecured and will rank equally in right of payment to all of Ladder’s existing and future unsecured unsubordinated debt .

The senior notes will be MasTec’s senior unsecured unsubordinated obligations and will rank equally in right of payment with any existing and future unsubordinated debt. and senior in right of payment to any existing and future subordinated debt.

The ETNs are senior, unsecured, unsubordinated debt securities linked to the performance of an underlying index.

The privately placed notes will be fully and unconditionally guaranteed by Kellogg, and will rank on parity with Kellogg’s other unsecured and unsubordinated debt .

The guarantee will rank pari passu with all of CVRD’s other unsecured and unsubordinated debt obligations.

The Notes are unsecured and rank equally with all existing and future unsecured and unsubordinated debt of Rockwell Collins.

ETN’s are senior unsecured unsubordinated debt securities issued by an underwriting bank that are designed to provide returns that are linked to a particular benchmark less investor fees.


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Get Lower Rates: From Insurance to Loans #auto #insurance #rates,auto #loans,car


Auto Loans Mortgage Loans Debt Consolidation Credit Cards Credit Repair Car Insurance Health Insurance Life Insurance

Lower Your Auto Insurance Rates Mortgage Interest Rates

About Us | Our Services

If you are looking to save money on any number of financial products or services, you’ve come to the right place. Lower Rates specializes in coordinating multiple insurance companies, lending institutions, and other businesses in order to deliver the best possible prices on an array of products. Our goal is to combine and streamline resources for our visitors, thus making it easier for you to find affordable loans, insurance policies, and more.

No matter what you’re looking for, Lower Rates can be of service to you. For instance, you might be searching for a low-interest credit card with an excellent rewards program. Or perhaps you’re in the market for a high-quality but inexpensive auto policy. Regardless of your needs, you can find the most competitive rates on the Internet right here.

Traveling the world is a pleasurable experience for many, but occasionally, trips are ruined by a health emergency. Not only could this ruin your vacation, but doctor bills and medical evacuations could leave you financially devastated. Visitor s health insurance can protect you from the costs of a medical disaster.

From Auto Loan Blog

Buying your car at the right time of year can mean a difference of thousands of dollars in negotiating power. Taking advantage of the regular need for dealerships to unload inventory at specific times each year is key to shopping well.

From Mortgage Blog

Finding the right mortgage loan option can be a tedious and time-consuming task. Look at all of your options prior to committing to one specific loan, then choose the one that works best for you.


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Here s an unexpected way to get rid of debt: pick


Here’s an unexpected way to get rid of debt: pick up and move

Ken Ilgunas paid off $32,000 in student loans two and a half years after graduation starting with a $9-an-hour job.

With zero job offers in his chosen field of journalism, he instead moved from Wheatfield, New York, to Coldfoot, Alaska, a truck stop and tourist camp north of the Arctic Circle, so he could put every possible dollar toward his debt.

Every possible dollar, in this case, meant virtually every dollar. His job as cook, maintenance worker and tour guide provided room and board. What Coldfoot (population 10) didn’t provide was places to spend the little money he was making.

“I had literally no bills other than my student loan payments,” Ilgunas says. “I was able to send $18,000 toward my debt that first year.”

People who are passionate about paying off debt find plenty of ways to do it that go well beyond clipping coupons. turning down the air conditioner and consolidating their debts. Some free up money by tackling most households’ biggest expense: the cost of shelter.

After the tourist camp job, Ilgunas lived in a tent for a while as a ranger for the Gates of the Arctic National Park. He paid off his debt two and half years after his 2006 graduation.

“I wanted a really free and adventurous life, and I knew I couldn’t have that life with debt,” says Ilgunas, 33.

His experiments in rent-free living went so well that he moved into a van so he could attend graduate school without taking out more loans and then wrote a book about it, “Walden on Wheels.” Ilgunas, now a seasonal park ranger, lives in a house in Stokes County, North Carolina, “with electricity and Wi-Fi and everything.”

Why today’s young adults are growing up more slowly

The shifting economy means Americans are taking longer to reach traditional markers of independence — in the process changing how they define ad.

Moving outside the comfort zone

You can’t get cheaper than free. But when a relative offered Chicago residents Aja and Kelvin McClanahan a home he had inherited and didn’t want, they initially turned it down because it was in one of the city’s most dangerous neighborhoods, Englewood .

“If you looked at the statistics, Englewood was at the top. Extreme poverty, urban blight, homicides, teen pregnancy, tuberculosis, all of it,” says Aja McClanahan, 37.

The McClanahans had made progress in paying off $120,000 in student loans, medical bills, credit card debt and a car loan mostly while living rent-free in Aja’s mother’s home. They longed for their own place and hoped to avoid a mortgage. And Aja wanted to be a stay-at-home mom and home-school their two small children.

So they kept talking about the Englewood house. “We could be so much far ahead with retirement savings, with college savings” by moving into the house, Aja says. “We didn’t see another way to get as firm a financial footing.”

Plus, they had friends in the neighborhood: “hipster” types who had moved there for the cheap housing.

“People live here. They didn’t die,” Aja says she reassured herself.

In 2010, the family moved from the suburbs into the house with bullet holes in the back door. They spent the first night listening to sirens, barking dogs and their own doubts about their decision.

Seven years later, they’re still there and debt-free. The area hasn’t gentrified, but it has improved, Aja says. Kelvin’s job as a postal carrier supports the family comfortably, giving them time to travel and and volunteer at local schools and nonprofits.

“I feel like we have a high quality of life,” Aja says.

Moving to another country

The McClanahans may have felt like they moved to a different country, but Frank Thomae and his wife, Lissette, actually did and dramatically reduced their housing expenses.

In 2013, Frank was planning to travel full time after he lost his job as the chief financial officer for a Canadian importer. Lissette planned to work remotely as a marketing director. But then the couple were saddled with $46,000 in unexpected bills for expensive dental work, a bad business investment and remodeling overruns on their Montreal condo.

Watch elephants spray tourists during the Thai New Year festival

Elephants sprayed tourists during the Songkran water festival in Thailand’s ancient capital of Ayutthaya. Songkran marks the first day of the Tha.

Rather than putting off their travels, they relocated overseas. They rented out their condo for $1,850 a month while paying $500 monthly rent in Prague, Czech Republic, and then $300 in Nong Khai, Thailand.

“We saved more money than when we were at home,” Thomae says.

Two years after leaving Montreal, they were debt-free. They recently signed a one-year lease in Croatia. Eventually, they plan to find a more permanent home: It will be abroad.

“We’ve both just turned 50 and neither of us wants to go back to Canada or the U.S.,” Thomae says. “We always want to travel.”

This article was written by NerdWallet and was originally published by The Associated Press .

More from NerdWallet


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Debt consolidation loans – Money Advice Service #loans #debt #consolidation


Debt consolidation loans

Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

What is a debt consolidation loan?

If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

You borrow enough money to pay off all your current debts and owe money to just one lender.

There are two types of debt consolidation loan:

  • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
  • Unsecured – where the loan is not secured against your home or other assets.

Secured debt consolidation loans

Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

Get free debt advice now

When should you consider a debt consolidation loan?

Consolidating debts only makes sense if:

  • Any savings are not wiped out by fees and charges.
  • You can afford to keep up payments until the loan is repaid.
  • You use it as an opportunity to cut your spending and get back on track.
  • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

For example, what if interest rates go up, or you fall ill or lose your job?

If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

You should get free debt advice before taking out a debt consolidation loan.

Get free debt advice now


Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

When getting a debt consolidation loan doesn’t make sense

A debt consolidation loan definitely doesn’t make sense if:

  • You can’t afford the new loan payments
  • You don’t clear all your debts with the loan
  • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
  • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

Debt consolidation loans that don’t put your home at risk

A better option might be a 0% or low-interest balance transfer card.

This is the cheapest way if you repay within the interest-free or low-interest period.

You’re likely to need a good credit rating though to get one of these cards.

You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

Fees and charges for debt consolidation loans

Beware of the high fees some companies charge for arranging the loan.

  • Read the small print carefully for any extra fees or charges before you sign anything
  • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
  • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)

If you choose a debt consolidation loan

  • Shop around using comparison websites to find the best deal
  • Get advice before you make a final decision. There might be better ways to clear your debts that you haven’t thought about.
  • Don’t just look at the headline interest rate. Compare the APR (the annual percentage rate), or the APRC for secured loans, as this will include extra costs such as an arrangement fee.
  • Cut up your credit cards to avoid the temptation to keep spending

Find out where to Get free debt advice now

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Tax Arrears Settlements for VAT #how #to #negotiate #tax #debt


Negotiating Tax Arrears Settlements for Substantial VAT/PAYE Liabilities

We tend to think about tax disputes regarding the inevitable legal action that will be taken to reclaim significant PAYE or VAT arrears liabilities ; but in reality, the court room process is just one aspect of a dispute with HMRC. By the time the process reaches this stage, it is likely the dispute will have been rumbling on for months, and in some cases even years, with a number of opportunities missed to reach a satisfactory conclusion.

The stress of a legal case on a business owner should not be underestimated. If the case cannot be won i.e. you cannot prove that HMRC has miscalculated the VAT and PAYE liabilities, the best strategy to remove this stress and worry is to try and reach a negotiated repayment schedule.

In this article, we’ll take a look at a few of the best ways to negotiate a tax settlement with HMRC over a tax debt. We’ve helped companies negotiate settlements with HMRC for unpaid VAT and PAYE worth a combined £1.2million in the last two months, saving both companies from being wound up and rescuing 96 jobs. The point is we are in a position to offer advice.

How to negotiate a tax debt with HMRC

In the past, HMRC inspectors were given discretion to assist small business taxpayers who were struggling to pay VAT and PAYE liabilities and reach a sensible conclusion. Sadly, this is no longer the case. A recent survey of tax professionals at 25 companies found that less than a quarter were able to resolve a dispute with HMRC through discussion and settlement. In general, HMRC is now less flexible and pragmatic.

However, as we have found in recent months, it is still possible to negotiate settlements for significant VAT and PAYE liabilities, but understanding exactly what HMRC expects from settlement negotiations really does pay.

My experience tells me the vast majority of directors, and sometimes even experienced accountants are operating out of their comfort zone when it comes to negotiating significant VAT/PAYE arrears. By significant, for example, more than £250,000, this is for many reasons. Practically if the PAYE/VAT arrears are this size, then there will usually be a financial director involved, and they are under immense pressure and mistakes often occur simply due to stress.

Often accountants have been left to manage HMRC in isolation which is unfair to the accountant and demonstrates the ignorance of the director. Inevitably when things go wrong, these situations result in finger pointing but there is one simple reality. One piece of advice I would give to every director and that is, remember who is accountable, not responsible for bad advice to a company. The law and HMRC are very clear on the matter – the director will be held accountable irrespective what errors have been made.

New compensation rules for creditors come into force October 1st, 2015 allowing creditors to seek compensation from disqualified directors. My bet is HMRC will seek more disqualifications for mismanaged HMRC tax debts.

If your business receives threatening letters from HMRC about tax arrears you are unable to repay, here’s what you should do:

1. Try to negotiate a Time to Pay agreement

If you’re unable to pay the tax liability upfront, organising a face-to-face meeting with a tax inspector to arrange a longer period to clear the debt should be your priority. If you are unable to arrange a face-to-face meeting, you should speak to the tax inspector on the phone.

The basics of the negotiations are you will only get a maximum of twelve months t repay and very often far less than this. There are exceptions to this rule but they are extremely rare.

You need to reach an agreement with HMRC on the amount of tax there is to be repaid and decide on a realistic period in which to do so. When considering the level of payments you can afford to make, you should also think about future tax payments, as they will also need to be made during this period. Do not overcommit your company irrespective of HMRC pressure to do so this will only adversely affect you later.

The most common cause of a time to pay failure is not taking into account other due or recurring taxes. If a default occurs, HMRC will not take kindly to this and will often take legal action and wind the offending company up. You should help immediately on 08000 746 757 if this happens.

You should prepare as much as possible for this meeting, and make sure you have any documents that might be relevant, including evidence of extenuating circumstances and tax debt forms. If you think HMRC has made any errors when calculating your tax debt, mention them during this meeting. You will also need to provide documentation as proof of any discrepancy.

HMRC will also want to see proof that you can repay what you say you can – and just as importantly what you are doing to make sure the same problem does not happen in the future.

It’s also worth noting that if you have made any errors you must raise them with the officer – do not hide any mistakes. The penalties will be increased dependent on the degree of complicity in covering up.

You may meet a Field Officer who will also be assessing what assets you have – just in case. If the debt is over £100,000 then they will need to refer the matter to their HMRC superior usually a manager.

2. Negotiate a settlement

If your Time to Pay proposals are refused, negotiating a settlement is your next best option. In this meeting, you will be quizzed about the company in detail, so you should be prepared to respond to questions relating to the company’s financial status, legal organisation, past tax debts and more.

HMRC’s tax collectors can only act on the information they are given, so it’s important you divulge all the facts. No two businesses are the same, but HMRC is advised to treat each organisation reasonably, so approaching this process in the right way will play a big part in achieving the right result.

How we can help

A lot of companies talk about negotiating settlements with HMRC for significant amounts of VAT/PAYE, but in reality, it’s something only a very select group of companies can do. The trouble is that some insolvency practitioners are more experienced at closing company’s not saving them, so negotiations are not within their comfort zone.

At Company, we have as much success with HMRC as anyone and better than the majority, and many have been threatened or even served with Winding Up Petitions. In the vast majority of cases, we were able to rescue 85% and negotiate settlements with HMRC.

To discuss your VAT and PAYE arrears in confidence call 08000 746 757 for immediate help and advice – no strings attached. Any initial consultation is free of charge and could be the first step in resolving your tax debt problems.

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10 Ways to Settle Your IRS Tax Debts For Less Than


10 Ways to Settle Your IRS Tax Debts For Less Than What You Owe

Do you Find dealing with the IRS frustrating, Intimidating and Time-consuming. You’re not alone.

While taxpayers may always represent themselves in front of the IRS, many turn to professional tax help (specialized IRS Tax attorney s, CPAs, and Certified Tax Resolution Specialists) in order to maximize their chances of winning a tax settlement while minimizing their contact with the IRS agents. Owing the Internal Revenue Service (IRS) money is intimidating to most people. The IRS has the power to garnish your wages, seize your assets and place a lien on your property in order to obtain the money that you owe them. However, these actions can be prevented by communicating promptly with the IRS about your situation. The IRS is usually willing to work with taxpayers, and there are several options available so that you may resolve your debt issues.

Another Interesting Read:

As a creditor, the Internal Revenue Service carries the weight of the federal government behind it. In addition to having extensive methods to collect on outstanding tax debt, the IRS also can be extremely patient. As long as the IRS knows it is going to get paid someday, it can wait until you are in a better financial position to pay. Of course, the longer you take to pay your tax debt, the more you will owe.

10 Ways to Settle Your IRS Tax Debt

1. Installment Agreement:

A monthly payment plan for paying off the IRS. If you think you are a victim of a fraudulent investment scheme (“Ponzi” Scheme), where you have lost all or most of your investment, you may be eligible to take advantage the United States Tax Code (law) to recoup 30% to 40% of your losses. This highly technical and complex process can help you reduce taxes paid in previous years resulting in refund with interest.

What are the different types of Installment Agreements?

2. Partial payment installment agreement:

A fairly new debt management program where you have a long term payment plan to pay off the IRS at a reduced dollar amount.Much like a monthly credit card payment, IRS payment plans allow you to pay off your unpaid back taxes in installments instead of all at once. A well-qualified tax debt attorney or Certified Tax Resolution Specialist will negotiate the lowest possible monthly payment for your needs.

3. Offer in Compromise :

A program where you can settle your tax debts for less than what you owe. Requires making a lump sum or short term payment plan to pay off the IRS at a reduced dollar amount.If you owe the IRS more than you can afford to pay, this could be the plan for you. Essentially, an Offer in Compromise gives you the opportunity to pay a small amount as a full and final payment. If you qualify for the Offer in Compromise program, you can save thousands of dollars in taxes, penalties and interest.

4. Not currently collectible:

A program where the IRS voluntarily agrees not to collect on the tax debt for a year or so. Currently Not Collectible means that a taxpayer has no ability to pay his or her tax debts. The IRS can declare a taxpayer currently not collectible, after the IRS receives evidence that a taxpayer has no ability to pay. This is a useful tool because you can file for a collection appeal to stop an IRS levy, lien, seizure or the denial or termination of an installment agreement. The collection appeal gives you the opportunity to explain how you think the situation could be solved without the IRS levy or seizure .

5. Lower Your Debt With Credit Card Debt Settlement:

There are two methods of credit card debt consolidation. through a credit card debt settlement company or on your own. Credit card debt settlement companies should be avoided. They collect your payments for months before making a settlement offer if they make an offer at all. Meanwhile, you continue receiving collection calls and negative payment marks on your credit report. You ll get better and faster results settling debts on your own.Final credit card debt settlement agreements should be in writing. Either draft an agreement of your own or have your credit card company send you an agreement. Make sure you and someone from your credit card company have both signed the agreement before you send payment.

6. File bankruptcy:

Income tax debts may be eligible for discharge under Chapter 7 or Chapter 13 of the Bankruptcy Code. Filing for bankruptcy is one of five ways to Tax Debt Relief. but you should consider bankruptcy only if you meet the requirements for discharging your taxes. Chapter 7 provides for full discharge of allowable debts. Chapter 13 provides a payment plan to repay some debts, with the remainder of debts discharged

There s no secret sauce in paying off tax debts. These are the only five ways of getting out from under the IRS aggressive debt collection tactics. If a tax pro promises you that you can save pennies on the dollar through an offer in compromise, that person is probably more interested in selling you something you don t need instead of focusing on your unique financial situation and determining what the best course of action is for you.

7. Release Wage Garnishments .

When you owe Uncle Sam money, the IRS can levy your wages, salary, or federal payments until the levy is released, your tax debt has been fully paid off, or the time expires for legally collecting the tax. There’s room here to bargain for a release or modification to the garnishment if you don’t have enough money to survive with the levy.

8. Stop the IRS from Levying Your Bank Account.

The IRS can issue a bank levy to take your cash in savings and checking accounts to collect back taxes. When the IRS levies a bank account, the bank is required to remove whatever amount is available in your account that day (up to the amount of the IRS levy ) and send it to the IRS in 21 days unless notified otherwise by the IRS. Part of the process of resolving your IRS debt is obtain a release of the levy from the IRS.

9. Innocent Spouse Relief.

If you happen to inherit your spouse’s IRS tax problems. you have an escape route. If you can prove that your circumstances fit within the IRS guidelines for innocent spouse tax relief. you may not be subject to the taxes caused by your spouse or ex-spouse.

10. Pay Attention to the Expiration of the Statue of Limitations.

The IRS has 10 years from the date of assessment (usually close to the filing date) to collect all taxes, penalties and interest from you. An expert tax attorney, tax CPA or tax resolution specialist can help resolve your back taxes and IRS problems by just by advising and strategizing with you to wait out the 10 year expiration date.

This is a useful tool because you can file for a collection appeal to stop an IRS levy, lien, seizure or the denial or termination of an installment agreement. The collection appeal gives you the opportunity to explain how you think the situation could be solved without the IRS levy or seizure.

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