A hardship letter can be simply defined as an appeal letter to a creditor or a utility provider requesting a review of repayment terms. A hardship letter to creditors can be occasioned by various unexpected incidences in our lives such as sudden loss of jobs, a medical emergency, loss of property or any other economic hardship. The purpose of a hardship letter is to describe in the borrower’s own words why he or she is not able to make repayments as expected. It is to help you negotiate debt successfully on your own. The most important thing with a hardship letter is to include actual and factual reasons for the hardships and the plans that you’re making for the future. Types of hardship letters to creditors This is not an exhaustive list of reasons for writing a hardship letter. You co
It is really important to understand the number, or quote, that you’re getting from a representative and what discounts, (reflective of underwriter’s assumptions) they offer and if those discounts are applied to your quote. You will need to ask about the base rate BEFORE discounts to determine whether, or not, a representative is trying to bait you into buying based on a low quote, only to discover after a period of time, that discounts were applied to your quote inappropriately. This is a common practice used to help a representative make their quota and many reps will apply as many discounts as they can to show you the lowest rate, not caring that, when the underwriters examine your policy, they will raise your rate substantially; or in the event of a claim, the coverage you thought
Almost every business needs to borrow capital at one point or another in order to get through a financial downturn or temporary cash flow problem. This is why commercial credit can be a very lucrative business that can help others get back on their feet at the same time. This type of business needn’t be as complicated to start as it may at first seem. With the right investors and the right technology, the set-up costs can be relatively low and the returns very rewarding. If you are thinking about setting up a financial loan business, here are 5 tips to get you started. Choose Your Clientele First of all, you will need to decide whether you will loan to businesses or individuals. The key difference between each of these are legal and licencing issues, as consumer loans are more he
These days, many businesses are opting to hire experts to deal with their debt collections because most of the time, they do not have the expertise and the staff to handle it. When choosing a business debt collection agency to do the collection for your company, make sure to ask the necessary questions first: Do you have certification? One of the biggest concerns in the collection process is getting involved in legal situations. Because of this, it is important that the company you employ is certified. In general, these agencies are certificated by the Commercial Law League of America. An agency that adheres to its strict regulations as well as the Fair Debt Collection Practices Act means that it is credible and has the ability to prevent legal harassment. What is your payment process...
Sometimes, we fall on hard times, or we might just want to consolidate other credit card or loan payments into one with a smaller interest. Other times, we might find ourselves wishing that we could fund a class, pay off our wedding, or pay for a holiday. No matter what the use, finding a loan to fund your dreams doesn’t have to be difficult. Personal Loan Terms Personal loans are a great way to get funded and make consolidated payments on something that otherwise would have taken over your finances. These loans are typically in terms of one to five years, offer interest rates far lower than most credit cards with some being as low as 9.95 percent, and are easier to pay than several separate bills. These loans also have the benefit of fast approval turnaround with most approvals being
You may or may not have heard the term “caveat loan”, which is a form of security that is commonly used for short term business loans, and basically, the loan is guaranteed by the caveat, which is a document that is lodged with the land office that states the property is being used as security for a loan. There are many benefits for those who wish to have a short term business loan by taking out a caveat loan, which could run from a few days to 3 years, depending on the borrower’s needs, and with online loan providers, applying for such a loan has never been easier. Low Interest Rates As a caveat loan is secured, interest rates are as low as 1.80% per month, and we should look to save money wherever possible, and with loan terms up to 36 months, a flexible repayment plan can be agreed.
The difference in interest rate available to you when buying a car is going to make all the difference in how much you will end up paying. Any large amount of money with an interest rate levied against it is going to be significant in monthly repayments, especially when repaid over a term of more than 12 months. There are some good deals to be had on the market, the trick is in knowing where to find them. This guide should help make the process easier and give you an idea on what you can expect. Interest Free Car Finance Yes, you read that correctly. Once every now and again, some car manufacturers will offer interest free finance on some of their models. These cheap car finance deals can dramatically reduce the cost of borrowing so should be sought out whenever possible. Have a look at...
Investing for retirement in your 30s doesn’t mean you’re too late. There’s still plenty of time to build a cushy retirement. In this article, Freedom Debt Relief reviews several tips to ensure you hit the mark with your retirement. Fill Up Your 401(k) You might be one of many in their 30s who have a debt hangover from their 20s. This can be a drag on your ability to fund your 401(k). Paying down debt will free up money to contribution even more to your 401(k). Freedom Debt Relief reviews says to try contributing the maximum to your 401(k). This means $18,000 per year. While more would be better, this is all the government allows. At the least, you’ll be doing the best possible and far better than most of your coworkers. Your contributions will be on auto pilot, coming out with each pa
Everyone who is aware of what a “business plan” is knows that it is basically a document which is used to explain designs and plans for any new start-up or to further expand a present business. This type of document has in its details all a business’s targets and strategies, and shows a blueprint of plans for all financing and marketing. Normally, it provides data about where a business wants to go and how to get there. A business plan is what is necessary when looking at an application for a business loan or investment capital. Investors and loan authorities will need to acknowledge precisely what any business owner is looking to accomplish and what the steps will be to meet their objectives. Guaranteed bad credit business loans for smaller businesses are also available fo
According to the gold market analysts, as U.S. stock indexes reach record highs, gold ends at three week low. On Monday, gold prices fell again, settling at the lowest level in three weeks and registering their fifth loss in six sessions. One of the reasons of gold drop in price is global market’s robust risk appetite that is favoring stocks for now. Investors are moving out the U.S. Treasuries, yen and gold, in search of a more risky and higher yielding assets. This move brings the technical positions on gold on the brink of a significant outlook change. Since at the start of the week the major stock averages traded at record highs, investors have been pushed away from gold. As consequence, the precious metal moved sharply lower. This means that lower gold price facilitate buyin