Thursday, December 23, 2010

Outsourcing your back office...(Part 2)

The Bad:

1. Work Done Offshore - Most outsourcing businesses use Offshore workers. That can mean:

  • The workers on your account are often going home when you are coming to work due to the time zone differences.
  • Problems with command of language and being able to understand them in phone conversations because of their accent and English language skills.
  • Privacy issues. Your financial information is half way around the world.
  • The thought you are sending jobs overseas rather than keep those jobs here in the US to support our economy and local businesses.

2. Other issues even if outsource firm uses employees who work here in the US:

  • Most business owners can’t get past the thought of not having that employee at their business location.
  • Many small business owners do not trust technology and the Internet.
  • Many people like paper and have trouble with converting from touching that paper and huge stacks of files to having secure access to all their records from anywhere.

The Ugly:

  1. If you are disorganized it won’t work.
  2. If you need everything right now it won’t work.
  3. It will force you to change the way you operate to move from last minute crisis management to long range planning and heading off problems before they occur.


The End Result:

It forces you to get out of doing administrative chores and frees your time so you can concentrate on your unique ability. Most people start a small business because they are good at what they do. However, running a business takes so much more than technical product knowledge. An outsource firm will help you bridge that gap and become the behind the scenes advisor to running your business. As your outsourcing solution we don’t have all the answers, but we know who to call to get the answers.


Saturday, December 18, 2010

Outsourcing your back office...The good, The bad, The ugly & The end result.

This is a guest post by Bert Doerhoff CPA of AccuBiz.net 
Bert runs Accubiz which provides outsourced accounting services for small businesses.


Before I start this post, let me give you the fine print disqualifier. Our firm specializes in using US employees to outsource complete administrative back office duties for small businesses. Therefore understand my viewpoint may be somewhat slanted.  

The Good:

1. It doesn't cost-it pays to outsource - The biggest thing most people have to get past is that outsourcing isn't always additional overhead. In many cases it is a significant savings. When you look at such things as workers comp insurance, only paying for the time you need rather than hiring full time, the cost to recruit, train and hire, etc. It costs the average business several thousand dollars in lost productivity, training, etc. every time you hire a new employee. Not to mention, every time you lose an employee, there is one more person out there who knows all about your business. 

2. Hiring & training - As a small business owner it is tough to hire, train and monitor someone to handle accounting issues you yourself have no training in. The outsourcing firm specializes in this work and only hires experienced experts to handle your account.

3. Embezzelment - The majority of embezzlement issues come from trusted employees who handle the cash and the accounting records. Having an outside party handle the accounting gives a separate third party control to monitor those in your office who handle cash.

4. Current accurate financial information - Often your accounting records become the lowest priority for someone in your office and so they are generally not current. When you outsource, the accounting is always current. When information does not flow you will be the first to know.

5. Access to experts that don't charge for every phone call - Most small business people are afraid to call their professional advisors for fear of getting a bill every time they call. When you outsource, you have access to those advisors on an ongoing basis.

6. Don't just plug the numbers - Most small business owners try to train a clerical person to handle the accounting records. When you outsource you deal with people who are trained to spot errors and problems so they catch things when they don't make sense. 

7. Backup of your business records in event of disaster - As a part of outsourcing all your accounting records and supporting documents are converted to electronic images and are stored offsite on secure servers. If you have a flood or fire, the effect on your business will be minimized because the business of business can continue without interruption. 

8. Fringe benefits, vacation & sick leave & who covers the business -The firm that handles your outsourcing is an independent contractor so you don't pay health insurance, don t pay payroll taxes and all the other fringe benefits on them. When your bookkeeper is out on vacation in a small office it can be a crisis because there is no one there to handle payroll or respond to customer inquiries. With outsourcing those issues are covered every business day.

9. Reduced computer software and update costs - Your business has to buy software to track all your accounting records and then every year you have to pay update fees to make sure you have correct payroll tax tables, access to new features, etc. When you outsource those costs are all paid by the outsource firm because they already invest in those items.


(The bad, the ugly & the end result - in the next post)

Thursday, December 9, 2010

Innovative Solutions For Assembly Line Packaging Warehouses


There are several types of packaging machinery that ultimately maximizes performance for greater efficiency and productivity in the plant. To acquire innovative packaging solutions, manufactures have the choice of packaging machinery that includes technical capabilities, labor requirements, worker safety, maintainability, and serviceability. Among them they also have the option to choose a reliable and adaptive machine(s) that are reasonable capital cost, able to fit in the designated area, and provide for flexible use.


When looking at machines that are more intuitive, companies should consider the energy consumed as well as the overall quality, any specific qualifications that are needed, and the throughput factor. In addition, the efficiency, productivity and ergonomics of the system are equally important. Companies should keep in mind additional add-ons and costs to the machine if they might consider these options at a later date.


With many systems on the market, there are packaging machines available in the general types.


- Author by Line: Lauren Horn

Tuesday, November 16, 2010

Usage of Debit Card can Keep Debts at Bay


Our increasing familiarity with all kinds of Debt Relief plans and debt cure solutions like debt consolidation, debt settlement and management etc somewhat is evident of the gravity of the current national and personal indebtedness and monetary crisis. Such circumstances make us more aware of the latent traps of credit card temptations giving way to piles and heaps of credit card debts and outstanding payments. However, there is no denial of the utility and inevitability of credit card usage, especially when someone makes a deal over the phone or the internet, but similarly on the flip side, the debts that it incurs on the holder cannot be overlooked as well. And most of the time it takes a colossal and deadly shape of a giant-size debt. One can easily avoid this complete dilemma by simply avoiding the usage of phone or internet to buy materials, when the same is available minus the shipping and handling costs from a nearby store.

That is why the usage of debit cards can prove to be most effective as it implies no hidden costs or debts and outstanding. You can shop or buy any stuffs without any fear or concern of due payments, which frees you from any extra anxieties of monetary deficiencies apart from making it sure that you are buying within your limits. Easy, harmless and hassle-free a debit card comes with all the convenience and flexibility of a credit card, without incurring any high interest debt.

During a purchase or payment with a debit card, the merchant would run it through a scanner, followed by printing a receipt for the buyer to sign, which means instead of adding up to your outstanding along with higher interest rates, it deducts money from your checking account. You can use the same facility for phone and online purchases as this too comes with an account number and expiration date, but all without any dreads or worries of debts. Debit Cards thus empower you to compare and buy with the best deal with low and convenient price and no debt at all. Moreover the numerous ATM centers make it easier for the debit card users by enabling them to withdraw money anytime.

Contributed by : Arnold Casey

Thursday, October 28, 2010

IRS Tax Problem - The Problem of Back Tax & Its Solution

It is a good news for the tax payees that the IRS comes with several solutions to help them overcome the tax problems. When it comes to handling the back tax problems, IRS offers three options to get rid of trouble and tension. These options include Installation agreement, Currently Not Collectible Status and Offer in Compromise. Back tax is a serious IRS tax problem and so let us delve into the depth of each solution.

Bankruptcy may be an option to thaw this IRS tax problem but it is generally regarded as the last resort. In case, you have decided to opt for bankruptcy, age and type of the back income taxes should be your prime considerations. Just like the unpaid payroll taxes, assessment of the recent Federal income tax is something that can hardly be discharged.

Offer in compromise, well-known as OIC, is a good choice to jump out of this type of IRS tax problem. This option requires you to disclose your financial secrets and many of the tax payers do not feel comfortable with this facility. Though many pleas for OIC get rejected outright but still you have the chance to appeal to the authority. You can also improve the chance of your success by working under the guidance of the reputed tax professionals. In case, you are determined to go for OIC, the tax payer needs to provide concrete proof in support of his inability to pay the tax dues. The IRS tax problem of a taxpayer becomes complicated in case he has recently sold his property but has failed to pay the taxes. The authority will accept OIC in case all the back income tax returns of the person have been filed.

The taxpayers who are keen to overthrow the IRS tax problem must know that IRS is always by their side to assist them to have some relief. Details of every procedure is provided by IRS and going through them helps you a lot to decide which one is the best for you.




FHA Lenders Help You Be a Proud Owner of a Beautiful Nest


Purchasing a nest of one's own is the costliest investment one makes in his life. It is just like coloring one's dream on canvas. But all of the like-to-be homeowners do not have enough finance to fulfill their dream. Some of them procrastinate a lot and can not take decisions if they should apply for a loan. But the FHA lenders understand the needs of the rank and file, take serious note of their financial constraints and play a vital role in making their transitions into a new home a memorable event.

If you are determined enough to approach the FHA lenders, you should take into account some important considerations. First of all, you need to make a precise analysis of your debt to income ratio. This is a vital step as the figure of the ratio will help you have a fair idea of your affordability to buy a property subject to your monthly income and expenses.

Getting pre-approval for a home loan implies that a borrower is inching forward to success. The fact that your mortgage loan as well as credit history are approved by the FHA lender what give you a sigh of relief and peace of mind. Having a prior approval helps you in making an immediate offer if you have found out a suitable property. The seller, having learned that you have already got an approval for the loan, will place greater confidence in you.



Friday, October 22, 2010

Two Biggest Cash Flow Issues for Business – Stock and Debtors!

There is a good chance that, in the course of running your business you will buy trading stock and/or make sales on credit.

That means you will have issues with matters such as

  • what sort of stock you should hold,

  • how much you really need, and

  • from whom do you buy that stock.


  • Managing and collecting debtors is a vital and often overlooked area of cash management in many businesses. Some customers will always try to pay you late. These people you need to identify early on and deal with (see below). They are not your customers.
    Two Biggest Cash Flow Issues for Business – Stock and Debtors!



    These are the two biggest areas in your business that can tie up bucket loads of cash.

    Trading Stock

    No one likes to run out of stock – it is inefficient and upsets customers.

    But having too much or slow moving stock is like putting cash on the shelves and sitting and looking at it all day long – a waste of time and money.

    Some years ago we were helping a motor vehicle repair shop with his cash flow. He had nearly $200,000 of stock – quite a lot of it way more than 10 years old. Most of the cars that it related to were at the wreckers!

    We asked him how much he could clear out and get – say $15k for. He sent nearly $50k “worth” of stock off to a dealer for the $15k. It was unsaleable to nearly anyone else. He cleared space in his storeroom and put $15k into reducing his overdraft.

    He then developed a more “Just in Time” approach to stock including express delivery with several suppliers.

    He ended up having about $100k in stock most of the time - a reduction of about $50k – which saved him about $4k a year – every year – on overdraft interest - and it cleared space in the storeroom – room for a card table – a fair outcome?

    What is your policy and program for managing your trading stock?

    Hint: When you are developing systems or processes – like holding a wide range of stock just in case a customer might come by needing an obscure part, remember this maxim:

    “You develop systems and policies to cover the normal majority of you and your customers’ needs. You do not develop systems around exceptions. You learn how to handle them as exceptions or emergencies – or you send them to someone else.”

    Debtors

    Debtors are your customers who buy from you on account and settle at the need of the month, or earlier – if you are good at controlling them. And controlling them is enormously important in managing your cash flow – and staying solvent.

    You are not a bank!

    Establish your terms of trade up front with each customer – and regularly review your debtor listing. Having said that most small businesses relegate this job to “when we get around to it because we are too busy doing other things” What!!

    If your trading terms are 30 days, then that is what your customers have agreed to – make them stick to it.

    Which brings us to the question – what trading terms are acceptable? You might check with your industry body or some others in your industry to determine how many days credit you might offer.

    Your invoices and agreements with customers must state clearly your terms and conditions – seek advice form your industry body or a lawyer if in doubt on any aspect of this.

    Controlling Debtors:
  • List your debtors each week by – current, 30 days, 60 days and over 60 days.

  • Ring those in arrears immediately the due date has passed – the first call should always be a pleasant reminder – most people will pay on time but from time to time just forget or misplace accounts.

  • Follow up a week later – be more insistent.

  • Send a letter promising legal action within 2 weeks of the second call

  • Refer hard cases to a professional debt collector

  • Adopt a fair but tough stance on repeat late payers – and put them on a cash basis or send them to a competitor if they do not mend their ways.

  • Your good customers will accept your efficiency in this area – and the bad will exploit you if you are lax and leave if you pursue them – which is what you want really.

    Manage your cash flow and you will have money in the bank and be more able to invest in opportunities that will grow your business.

    Or you could just go to a better class of restaurant.

    Want to know the secret of preparing your business for the worst? You can do it free for 30-days by trying this amazing Australian cashbook software – Cashflow Manager!



    Author Profile: Wayne Burgan

    Australian CPA Wayne Burgan founded Cashflow Manager – the simplest small business accounting software on the planet! Wayne realised that the biggest problem faced by the majority of small business owners could be traced back to not understanding the bookkeeping side of business while running his accounting practice. He was also aware that small business owners want to keep proper accounting records but fail to do so.
    Follow Wayne in Twitter at http://twitter.com/wayneburgan

    Tuesday, October 12, 2010

    Business Interruption Claims – Get Help From An Insurance Loss Assessor

    If your place of business or the stock contained therein are damaged or destroyed by a catastrophic event like fire or flood it is going to have an incredible knock on effect on the running of your business. You may not have any stock to sell or anywhere to trade from – not only will this time be emotionally draining but you may lose your livelihood in the process. You can lose a lot of money (loss of profit) following a major disaster like this and while you may have had decent insurance cover you may be surprised to know that this may not cover you sufficiently.

    You would assume that the cover you take will ensure that you have enough financial compensation to cover your losses (both physical and lost profit) but you must remember that the insurance company is a business in its own right, making money is top priority for them as well. Your insurance company will appoint a loss adjuster to your case and it will be their job to investigate the claim thoroughly and ensure that you have no liability in the case. They will interview you, your colleagues, the police, fire department and potential witnesses in order for the insurance company to pay out as little as possible. If you factor into this the fact that insurance company will expect you to deal with your side of the claim yourself and you will begin to see how the balance of success seems to edge towards the insurance company.

    So how do you combat this issue?

    You employ the specialist knowledge and expertise of an insurance loss assessor. Often insurance loss assessors and loss adjusters are mentioned in the same breath – leading to the common misconception that they are one and the same. Knowing the difference could be the saving grace for your company in relation to ant business interruption insurance claims they have to make.

    An insurance loss assessor will be employed by your company and will represent your company in their fire insurance claim, flood insurance claim or any other business interruption insurance claim. They will carry out similar investigations to the loss adjuster and will work towards getting you the appropriate financial settlement in your claim. The insurance loss assessor will deal with all the paperwork surrounding the claim, negotiate on your behalf with the insurance company and even, in some cases, sort out the relevant contractors for getting your business premises back up and working.

    When you have invested time and money into building your business up its worth investing a little to ensure its survival following a disaster.

    Saturday, October 9, 2010

    Get Rid of Defaulted Student Loans to Avoid Being Harassed


    No one wants to default on a borrowed loan, be it home loan, business loan, mortgage loan or student loan. The consequence of defaulted student loans is more bitter than that of other defaulted loans. Students who take loans from the market for higher technical or management education at a renowned institute have a long way ahead to go after they complete studies and qualify. But, the defaulted student loan makes roadblock on their path to a bright and beautiful future life. However, there are ways to get out of the defaulted status.

    When you have not made a single monthly payment in a period of 270 days, you default on the student loan. Consequently, the lender will put your loan in the list of defaulted student loans and your name in the list of defaulters. And, your case will be transferred to a collection agency who can go to any extent to collect the loan. There will be no end to harassment, if they call you at irregular hours, haunt you to the workplace and follow you to a social gathering. So, you had better overcome the defaulted status.

    Getting rid of defaulted student loans is no Herculean task, if you are a little more conscious. A defaulted loan case is not reported to a collection agency or the credit bureau before 90 days following the period of 270 days when the borrower has not made a payment. If you make a payment within these 90 days, the clouds of your defaulted status will disappear from over your head. You can also go consolidating your student loan during this period. The consolidation option may not be available, in case the 90-day period is over and you do not pay even the smallest chuck of the loan.  


    Saturday, September 25, 2010

    Benefits and Process of Debt Negotiation

    If you are suffering from debt because of personal loans, unsecured credit cards, payday loans, medical bills and you want to reduce your debt amount, then debt negotiation will be the best option for you. Debt negotiation program can help you to reduce your total loan balance.

    The benefits

    # Debt negotiation can ease your outstanding loan balance that helps you to pay off your debts easily. 

    # You will also get a relaxation on the amount of monthly payments as a result of reduced outstanding loan balance.

    # It can help you from late payment fees and the over limit charges in case of credit card debt.

    # This program will help you getting harassing phone calls from your creditors and the collection agencies. 


    The process

    # The debt negotiation program starts with a free debt counseling process offered by your debt negotiation company. In this stage the debt counselors observe your current debt situation and find out the suitable debt negotiation program which will suit your needs.

    # The company makes a budget plan for you on the basis of which you have to pay off the amount once the negotiation procedure is over. This process is generally for the company by which it can observe that how much it is required to negotiate with your collection agency or your creditors.

    # The company fixes the term of the debt negotiation program depending on the amount you can afford monthly to pay off your loans.

    # The company creates a account for you which is know as Trust Account. You have to deposit the money instead of paying to multiple creditors.

    # The debt negotiation company starts negotiating with your creditors only when near about 50% of your outstanding loan balance gets accumulated in your trust account.

    # After a negotiation between your creditors and the company, a reduced negotiated amount will be fixed and that is send to you in writing. You have to accept the letter and then you have to pay a lump sum amount to your creditors from the trust account. Hence, you will be gradually become debt free by paying a lower amount than what you actually to be paid.

    Monday, September 6, 2010

    How can act of DUI affect your car insurance?


    Car insurance dui is something which one or the other person should know at one or the other point of time in life. We know that DUI is not less than any criminal offense. All states have laws that different criminal actions can cancel the Car Insurance of a person. So before the purchasing car insurance makes sure that you are well aware of the points that can lead to confiscation of the car insurance. Car Insurance Dui is also known as DUI insurance. DUI is a felony and a very serious law breaking act. The act of Dui can surely affect your car insurance. Therefore Dui awareness programs should be held in all the states in order to spread alertness in each and every corner of the states. Conviction of DUI is said to be imposed on an individual whenever he or she is caught hold of driving an auto mobile or vehicle. Dui is the acronymic form of Driving under the Influence of intoxicated drugs.

    The conviction of Dui is also applicable to those individuals who are caught drunk driving a vehicle. The act of Dui is majorly found in the teen agers because at the age of being a teen the individuals or the adolescent are not in the senses to decide what is right or wrong for them. Especially after the age of 18 they think they are grown mature enough to do whatever they want and they tend to misuse their freedom by doing rush driving or drunk driving. Rush driving is although not a crime but the act of drunk driving can seriously lead to the confiscation of car insurance Dui along with the driving license of the amateur car or auto mobile driver. If the insurance company comes to know about your act of Dui then it can straight away cancel your car insurance policy.

    Friday, September 3, 2010

    Equity release plan in UK allows the aged to enjoy their twilight days


    Equity release plan has helped the citizens of UK a lot to meet the daily needs of day to day life. The monthly expenses for the citizens in UK are growing day by day and it has become almost impossible for the laymen especially the old people to afford their life style and suit themselves in rising expenses. It will not be wrong to say that the aged personalities are almost facing the hardship of their life at this age. It has almost become like a challenge in the retirees to manage this hoax of expenses in their life. The individuals who are retired totally depend up on the amount that they get from their and we all know that how trifle is the amount of pension of the individuals. Therefore they attempt to choose for the Equity release UK.

    The schemes for Equity release UK are very beneficial for those who own a house in the country of United Kingdom. The Equity release plans in UK allow the individuals to meet the both end requirements. Equity release plans help the old house owners to release the equity (cash) that is attached to their house or property. For releasing their equity they just need to sell some portion or total of their house in against off that they get a lump sum amount of cash. This lump sum amount of cash is tax free and can be used by the old retired individuals in what so ever ground they wish. This cash is provided to the individuals by the Equity release providers. The old home owners after selling a part of their property or total of it, if wish can also stay in the house and if they need be in that case they can also move out of the place. 



    Wednesday, August 18, 2010

    Building, and affording, a new home

    For years, the process to build a new home was simple: hire a builder, apply for a loan and move in. Period.

    It's not that easy any longer. Lending institutions have put a clamp on money that used to flow out the door. Appraisals are becoming more of an exact science than an afterthought. Getting the "necessary" value out of a home today to obtain financing has proven more difficult than many people ever remember.

    When it comes time to build your home, don't let the "market" scare you away; there are still a number of viable options for you to obtain financing. Most people hire an experienced home builder or general contractor when deciding to build their dream home. There are certain things that you must keep in mind when building a home, some of which are outlined below.

    Finding Land / Lot

    Finding the right spot to build on can be a daunting task. Many builders have lots available that they will sell you, you can look for undeveloped lots that have flooded the market recently or you can go acquire land that suits your needs. Whatever the case, make sure you consult with your builder and/or architect to make sure that the home you want will fit on the land you're looking at. There is no worse feeling that things not "fitting" together like you'd hope. Finally, consider the purchase price of the land into the final price of your project. There are costs associated with purchasing the land that may play a part in the viability of the project.

    Obtaining a Mortgage

    Just because you choose to build a home, instead of buying one, doesn't mean you have to seek alternative methods to fund such a purchase. A mortgage is the most traditional method of financing a personal asset, such as a home. Many banks, credit unions, mortgage companies and other lending institutions are available to speak with. Shopping for the package that suits you best will help you discover the lowest rates and payment terms you need.

    Making a Down Payment

    Just a reminder to keep in mind: many financial institutions will require you to make a down payment on your loan, as a sign of your "devotion" to the project.

    Providing your Financial History

    Your lender is going to want to know everything about you: your work history, your credit scores, your current debt, your current assets, your payment history, employment records...everything. Be prepared to shell this information out and make it readily available to them.

    Paying Property Taxes

    Taxes aren't cheap. Finding a lot you love and building the home of your dreams sounds like a great idea, until you get a tax bill that you weren't expecting. Be sure to do researching into what your bill will run each year so you can adequately prepare yourself.

    Paying Cash

    Very few people can do it, but keep in mind that paying cash for a home will save you a large sum in the long run. As an example, making interest payments on a 5% mortgage for 30 years adds up quickly.

    At the end of the day, building a home allows you to get all of the features you desire. Don't rule it out. Many builders are looking for business these days and are willing to make a deal with you. Don't discount your ability to build, finance and afford a new home built just for you.
     

    Shea Whitmire is the President of Whitmire Homes, a Georgia custom home builder. The Whitmire family has been building luxury homes for more than 30 years and has a proven track record of helping people find a way to make their dream home a reality. 




    Monday, August 16, 2010

    5 Bills you can Cut to Eliminate More Debt

     
    When you think about getting out of debt, the first thing that comes to mind is money and it’s for good reason. You’re going to need money to fight off any debt that you may have. Now, the problem that I see with many people is that think about making more money, rather than cutting costs on bills over at home.

    While you can still keep the job that you may have, you’re going to find that when you cut some bills in half or get rid of them, they will really help you with fighting your debt efforts.

    I wanted to give you five bills that you can cut today that you more than likely have. By cutting back on these bills each month, you should be able to have money leftover so that you can throw it at all of your debt balances.

    #1 Your cable bill: This is honestly a bill that you can get rid of 100%. If you have the Internet, kill the satellite or cable. Instead, subscribe to a Netflix package, where you can stream movies online, as well as TV shows. You can also watch all of your favorite shows on the main networks as well. This should easily save you at least $30-$100 a month.

    #2 Your phone: If you have the iPhone or some crazy data plan that is setting you back $115 a month, you should really get rid of this. It doesn’t mean that you shouldn’t have a phone, but instead, think about getting a simple basic plan such as Walmart’s new plan called Common Cents Mobile where you’re charged per minute. This can save $50 - $100.

    #3 Eating out: I loved eating at restaurants but I found with my family was that I was spending more than $25+ every time we ate out. Even if we ate at a fast food joint like McDonald’s, we were still spending a lot of money. Make it a habit to eat out maybe once a month and try to cook as many meals at home. Yes, while eating out isn’t really a bill, it can add up without you realizing it.

    #4 Your utilities: When you’re not using a light, turn it off. Purchase a programmable thermostat and be sure to program it to use less air / heat when you’re not at home. For example, when I was at work, I would set the house down to 62 in the winter. I would have it boot up to 70 an hour before I got home. Then at night, I would set it back down to 62. I saw a huge different in my heating bills.

    #5 Transportation: If you drive to and from work, see if you can car pool with someone. If you’re close enough, think about riding your bike, or even using public transportation. Another way to save is to do all your errands on one day, rather than spread out throughout the week.

    When you save money on bills like these, you’re going to find that you can have a good chunk of change leftover. You will find that by eliminating bills like this, you can easily save $200 to even as much as $600! Try out these cost saving measures today and see how much you can save.


    This is a guest post written by Liz Cutten. She contributes to FindSecuredCards, a secured credit card/debt blog helping consumers fight their way out of debt.


    Thursday, August 12, 2010

    Listing Your Home on the Internet

    When potential buyers search the Internet for homes, will they see your property listed? The majority of them will be working with a real estate agent but they are also actively involved in the home buying process and will still continue to browse online for new listings they may have missed.

    If you have not already done so, find out if your real estate agent sets up buyers with an automatic MLS search which will search for new listings that meet their requirements on a continuous basis. This will provide visibility for your home to numerous potential buyers who may be interested in what you have to offer.

    A virtual tour of your home for sale has been proven to increase interest for visitors who are then able to see many of the rooms and get a “feel” for the house.

    Your agent should also post listing information on social media sites such as Facebook and Twitter. A relative or friend of someone seeking a home may see your property listed and pass on the information.

    An ad for your home should also be listed in the top real estate advertising sites such as Trulia, Yahoo, Oodle and Zillow. Craigslist, too, is a popular website listing homes for sale.

    To see for yourself how your home is listed for sale in the above mentioned major websites, do a search and also “Google” your street address placing quotation marks around the street such as “123 Main Street”.

    Author Bio: Tasha is an experienced Dallas real estate marketing professional. Feel free to visit Highland Park real estate page to view hot new listings.



    Saturday, August 7, 2010

    Why Are People Not Buying Homes?

    A lot of people in the economic community are wondering if the economy will take a "double-dip" in the latter half of this year. Economic numbers have not been strong to this point. Last quarter's GDP number was revised down and the home sales numbers are heading back down. The expiration of the first time homebuyer credit has not helped the housing market, but not many people chose to take advantage of the program after it was extended.



    The reason why people are not buying homes is simply they cannot afford them at today's prices. The combination of the homebuyer credit, low mortgage rates, and low prices made homes affordable for many, and those people purchased homes. There still is a tremendous amount of inventory left in the market, yet the remaining people cannot afford homes at these prices. This means prices have to go lower. Although the government has done a great job supporting the housing market, they cannot continue to do so forever. They have already stopped purchases of mortgage backed securities.


    Currently, falling prices have made an excellent opportunity for investors who have purchased homes, condos, and multifamily units and have converted them into rental, income producing properties. The Miami condo market is showing strong signs of recovery as low prices have brought in a wave of all-cash international buyers. Unfortunately, these two groups of individuals are not reliant on the mortgage market for their capital, and would gladly like prices to head lower.


    In my opinion, the government will not allow a substantial double dip in home prices, as they will continue to find creative ways to support the housing market. One idea that is being thrown around is relaxing some of the requirements to refinance your loan. Presumably if we have looser requirements for a refinance, people will take advantage to get more money in their pockets. Only time will tell with this and other solutions.

    Friday, July 30, 2010

    When Should You Go For A Debt Consolidation Program?


    A debt consolidation program is normally a plan under which your multiple outstanding loans are paid off in the form of a single loan. It can be an advantageous option for you. However, debt consolidation programs have their downsides as well.

    A debt consolidation program can be a useful tool for you in some particular circumstances. When you are paying off a number of loans, your life can become simpler if you combine all your loans into a single loan. Then you just have to make a single monthly payment and receive only a single monthly statement.

    Furthermore, you would see that your monthly debt payments would go down because if you enroll into a debt consolidation program, it extends your payments over a prolonged tenure. This indicates that you have to pay a lower amount every month and you would also be able to save some money.

    An attractive (and on certain occasions productive) tactic is to implement a debt consolidation program for handling different revolving debts with high interest rates. For instance, you may have multiple outstanding credit card balances carrying high interest rates. Through a debt consolidation program, you can manage those debts and reduce the interest rate or APR (Annual Percentage Rate) which you have been paying. As a whole, credit cards carry higher interest rates and secured loans like home loans bear lesser interest rates.

    You should remember that debt consolidation programs can either assist you or harm you. You must be aware that your loan is not relinquished by the program. You are still indebted and ultimately have to repay it.

    You should know that extending your payments might lead to higher interest costs. In addition, a home equity loan or line of credit is utilized frequently for consolidating your debts. In case you default, you can lose your home. Credit card providers cannot seize your home. Nevertheless, if you keep your house as security in a debt consolidation plan, then your house is a target of foreclosure.



    Friday, July 23, 2010

    Graphical Representaion of Mortgage Rates

    One of the most important factors for any home buyer is the effect of mortgage rates. This is one major factor that we often overlook. During considering the housing's equation, monthly payment is calculated on the basis of mortgage rate. The concept is very simple. The interest rate is directly proportional to the monthly payment.

    Given below is a graph that shows the 30 Year Fixed rate mortgage since 1971, as obtained from Freddie Mac's data.





    Here you will see the same thing but with 5 year grouping:







    Saturday, July 17, 2010

    Credit Repair Business


    In today’s harsh economy many people fall prey to debt and before realizing they almost reach the verge of bankruptcy. However, a new amendment to bankruptcy law has created flourishing opportunity for credit repair business. The new law requires people to acquire credit counseling before claiming bankruptcy. This law unlocks the door to credit repair business opportunity as a home based business. Before starting the business you must check the requirement of the local and central government regarding insurance, license for the business.

    Books on credit repair business will provide you an insight of the possible requirements of the business that you need to fulfill, tips on the technique to perform well in such business. Prior to commencing your business getting trained and becoming a certified member is required by some States. You could look online for home study courses or professional credit consulting organization for certification. Getting certified at the federal or at least State level is important as it gives credibility to you and your credit repair business.

    When you have become a certified member of an organization you need to define services that you will offer and start marketing your credit consultation business. You could look online to gather information on the services other credit repair business organization provides and the fees associated with the services. Then you could decide on your own and start advertising in periodicals or local newspapers. Creating credit repair business flyers either professional or on your personal computer would help as it will give a short description about the services and contact information.

    In order to build goodwill for your business you can offer free credit repair counseling services to friends and relatives. A letter of recommendation from them can become the best form of advertising. To gain popularity of your credit repair business you may think of providing credit counseling classes or seminars to stop people from falling into debt trap. You can give lectures or talks to high schools pupils of the local community. They will go back with a lot of information on how to stay out of debt and tell their parents, who could become your immediate clients.

    Before branching out your business globally through Internet it is a good idea to gain credibility for your business locally at an early stage. In this way you will achieve both experience and customer satisfaction before making it big. Always stay candid with your clients and give them the information they need. This will boost the possibility of your credit repair business success.



    Monday, July 5, 2010

    Few basic tips to get best home mortgage loans:


    Here are some of the ideas that I came across regarding home mortgage loans. I would like to share these points with you and hope that it will be of some help, specially for those who are looking to purchase a home.

    1. The first and foremost thing would be to do proper research and find out the best lender from the lot. There are numerous loan programs and you have to pick the one thats suits your requirements.

    2. Though it might sound insignificant, but its true that a good real estate magazine can help you figure out some of the latest offers from the lenders.

    3. Next you need to compare the mortgage rates. The low rate can make quite a difference and can allow you save thousands.

    4. Another option is internet. You can search in internet and look out for the best finance as nowadays many lenders allow to apply online and it is one of the quickest procedures.

    5. If you are new to this field and you think that you dont have much knowledge, then brokers can be a good option for you. This would also save you time and money, and they will also do a lot of research for you.

    6. One more important point is if you can increase the principle you are paying at the beginning, it may help you pay less later. And shorter the period, the less amount you need to pay.

    These are just some of the basic tips. It will be highly appreciated if you can add to these and share your comments as well.

    Wednesday, June 23, 2010

    Money for a home business starter kit

    If you’re thinking about ways to make more money by doing a home business, the question that would come to your mind is how you can get the money for a starter kit. If your condition is similar to majority of Americans who’re overextended with debt, then obtaining the funds might be difficult. However, it is not impossible. This article would give you some idea about how you can do it.

    If you’re working with an advisor of the sponsor you’ve selected, ask him about the opportunity of a starter party. A starter show which is also called an open for business party or earning your kit is when your selected sponsor would organize a party at your home and give all the income from your party to you for buying your starter kit. A starter show can be organized as a catalog show if your sponsor is located far from your home. You would just demonstrate a catalog to your friends and family members and receive orders to put forward to your sponsor. This is an outstanding technique to not only start your home business with little or no expenses but also watch directly how a home business party is organized.

    If a starter party is not allowed by the company that you want to join, find out if your sponsor is ready to assist you. You can circulate catalogs for your sponsor and advise people to shop through their website. All commission from the sales you generate for your sponsor can be utilized to buy your starter kit.

    You can also sell some items on eBay to raise money to buy a starter kit for your home business. It is quite easy to open an account on eBay and you can dispose some articles around your home that you don’t need any more. Going for a garage sale is a helpful idea as well. Some other techniques to earn money to buy a starter kit are offering babysitting, pet sitting, housecleaning or lawn care services. You can borrow from a friend and pay him back later when you receive your commission from one or two parties.

    There are a lot of techniques to earn money to buy a starter kit for a business. Innovative thinking and hard work would help you profit from your home business.

    Saturday, June 19, 2010

    Debt Settlement - The Right Way to Consolidate Debt


    In the present society, credit cards have become a part of every individual’s life. More and more people are falling in the attractive offers of the credit card issuers. But it should be kept in mind that you are not getting any item of free of cost, it is after all your money that is being spent. If you won’t keep this in your mind then undoubtedly you will suffer from credit card debt. If you have tried all possibilities of debt consolidation but failed to get the proper solution then debt settlement can be an alternative.

    Debt settlement is not only the debt relief option to get out of debt but it also settles credit cards, gas cards, store cards, personal loans, medical bills, auto loans, debts related to taxes, mortgages etc. Debt settlement allows you to pay approximately 40% to 60% less then what you are required to pay.

    In debt settlement program you are offered free debt counseling option. The debt counselor will assist you in working out a budget so that you can manage your finances better in future. A trust account will be created in favor of you so that you need not to make payments to the creditors. When 50% of the outstanding balance is accumulated, the debt settlement company works on your behalf. Depending on how much you can pay towards debt settlement, a repayment term is fixed by the creditors.

    Sunday, June 13, 2010

    Mortgage Cartoons















    Thursday, May 27, 2010

    Professional Commercial roofing experts work for providing a better service

    Professional Commercial roofing is reputed and most informed roofing business. With the help of professionally skilled experts, Professional Commercial roofing has become a ground breaking management tool which looks after the building's life time. Professional Commercial roofing provides quality and fine work confined with the commercial roofing of a building. The services provided by the Professional Commercial roofing are mainly categorized in four parts such as Roof Evaluation Services, Roof Installation Services, Roof Information Services and Roof Contract Services.



    Professional Commercial roofing comprises of intellectuals who have taken Commercial roofing as their profession. Evaluation of roofing comprises of detailed inspection of the roofs are have been manufactured for installation. Roof evaluation services specify that there has been no mistake made by the manufacturers while constructing the roofing system. The grounds on which the experts analyze the roofs are roof type, materials used, structural components and other important information and then prepare a database for all these information.


    The experts also compare the database with other company's Professional Commercial roofing. Roof installation services are those areas which cover emergency leakage, repairs, maintenances, re roofing, roof replacements, etc. Roof installation services ensure long life of the properly installed roofs. If the roofs are installed properly then there will be less chances of re roofing which will save a lot of money, time and labor of the house owners. In Roof Information Services, all the database of the various roofing system are displayed on internet so that the common people becomes aware of the facilities provided by the Professional Commercial roofing experts. If any kind of updating is required in the Professional Commercial roofing then the help of roof informative services is taken. Roof Contract Services allow the public to know about the ins and outs the Professional Commercial roofing. Roof Contract Services place a bid for different types of Professional Commercial roofing systems.

     

    Wednesday, May 19, 2010

    Save yourself from being neck deep with Apartment loans


    Apartment loans are those areas of debt for the apartment constructors who borrow money for creating the various apartments in a locality. The apartments are constructed keeping in mind the locality of the site or plot. Location is the prime factor for construction of an apartment. If the apartment is being constructed in a crowded place or near the market or on main road then the rate of construction or the Apartment loan is much more than the apartments which have been constructed far away from the traffic zone. Another factor which affects the Apartment loan's amount is the type of apartment being constructed.

    There are mainly three types of apartments. These include large sized apartments, medium sized apartments and small sized apartments. It is quite obvious now that the Apartment loans for large sized apartments is the more than the medium sized Apartments and more further the Apartment loans for the medium sized apartment is more than the small sized apartments.

    The apartments are buildings which may contain one or more than one family who buy the apartment from the contractors. These apartments contain separate or independent kitchen, bathroom, bedroom, drawing room, balcony, etc. if the individual or different family shares anything in common that is the entrance and the terrace. These apartments are constructed in order to accommodate big population under one roof due to scarcity of land. After constructing the apartments with the help Apartment loans; the constructor sells the apartments to these families. The money which the families give to the seller is used by him or her to repay the Apartment loans. A part of income is also kept with him, which is counted as his or her profit. To search out for the Apartment loans, firstly the individuals can look out for different commercial farms, secondly banks and thirdly money lenders.


    Vernon Real Estate - your comprehensive guide to the Vernon BC area and homes in Vernon BC for sale in Canada. Our award winning Vernon BC Realtor team can help you!



    Tuesday, May 11, 2010

    Stock Management: Tips and Guidelines for Positive Stock Trading Business Results


    Stock management has enhanced the sources of income for the people belonging to different social layers. However, there are various dimensions associated to the concept of stock investments that are expected to be known to the people interested in investing in them. There are many people who do not take the stock market business seriously. They treat it as the part time job that may help them to earn something extra for their living. But, it is always suggested to them not to treat it as the activity for passing time as they too serve to be the real business.

    In fact, the emergence of various technologies and the availability of computer with internet connections have made the analysis process very convenient and simple for you. There are two kinds of software that can ultimately help you to conduct multiple stock management analyses. One of them is referred as the personal management software that helps you to track various possible factors affecting your business, such as, losses, profits, brokers, subscriptions, and many other things based on your requirements. The second stock management software helps you to be aware about its bare bones and perform a technical analysis based on it. It also offers you the facilities which makes you aware about the company news, stock news and also enables you to find current prices of the stocks, etc.

    In addition to this, a point may be added as the basic requirement for stock management, according to which the investors must obtain the basic knowledge about stock market business. You must be regular in acquiring more and more knowledge about the field and keep on researching for better results. However, you must not avoid your drawbacks if you incur any loss and must try to strengthen your positive points in order to enjoy a good and beneficial experience in stock trading business.



    Wednesday, May 5, 2010

    Insurance Premium Saving Guide for Home Owners


    I am pretty sure, unless you are an agent of Homeowners Insurance New York, you will turn a deaf ear to most of the happenings of this industry around you. You may not have time to re-think and analyze on insurance premium to its root and break your head in the midst of your daily activities. But the fact is, you should pay some attention, because you are paying too much premium which is of course your burden for future.

    Then why do not you take it seriously and invest your kind thoughts in to it as a matter of saving your hard earned money. We can have a quick run through the scope of improvement. Here they are as follows:

    Increase your deductibles:

    As you raise your deductible, your monthly insurance premium will get reduced enabling you to save a significant portion at the end of the year. But if any large scale mishap happens to your home then you might end up paying from your pocket. But this is widely accepted calculated risk which is worth of taking corresponding to normal course of life.

    Go for Safety Deductions:

    Set up fire extinguishers, smoke alarms or security systems in your home to reduce insurance cost. If you live close to fire station or a fire hydrant then your Basic Homeowners Insurance premiums can levied up to certain amount.

    Choose Joint offer:

    Identify multiple policies and enjoy significant discounts from the insurer. You can bundle car insurance, life insurance with the home insurance as well and get maximum coverage from a single insurance companies.

    Maintain properly:

    If your property is not managed well some insurance companies may cancel your policy or will reject renewal of it.

    Disasters proof your home:

    If you build up your home minding enough arrangements against natural disaster, then some insurers would provide you discounts on premiums. Focus on stronger roofing, update on electrical system and make necessary changes to your plumbing system. Thus saving is possible.

    Pay Online:

    When you are using check facilities, some companies may charge a fee for this. Payment through checking account or credit card would help you to save that extra bite.

    NII BROKERAGE provides every type of home insurance services in New York. Check out Homeowners Insurance Syracuse and request for your home insurance quotes.



    Friday, April 30, 2010

    DUI Car Insurance – Necessity of Life

    The next big thing near to car insurance in California nowadays is DUI or Driving Under the Influence of alcohol. You had a hangout with your friends late in the night and is full of alcohol. You are riding yourself back to your place in your new limo and suddenly a speeding truck comes your way. Some things do not come your way by information; they may be sudden and occur accidentally. For this fact it is very important for you to safeguard your car with suitable car insurance.


    A DUI is a very significant conviction which may end up with time consuming experiences. Thus people who have already experienced such a conviction should look forward for a DUI car insurance. Getting a DUI car insurance is very easy but there are some hindrances which you need to overcome. The very first reason is that you should not have any criminal records because such records make it harder for the approval of the insurance. Your driving records are taken into consideration while applying for the policy. Some companies find it very difficult with the driving records if they are not clear enough. It may put them into the risk of repeated accident events and thus increase the premium rates. Some may even cancel and drop your application.


    Thus it will be more safe and good for you if the insurance rates are low. For such an achievement you need to keep your driving records as clean as possible and not involve in any criminal activities like speeding tickets. If you have a plan out with your friends and get into a drinking then it is better for you to get an assigned driver to drive you back safely to your house. It is always better to get DUI car insurance before getting involved in such drunk – driving offense. The companies will also charge you less. Take the help of insurance experts for a proper guide about the policy and also about the legal situations.


    You must always need your own car to go to work, shopping or to the doctor’s place. It is an essential commodity to us now and thus it gets mandatory to get DUI car insurance before getting tangled in some legal situations. You get to pay a lower insurance rate and also it gets approved easily. Get the quotes of different companies over the internet and get hold of the best one today. This reminds me of the quote: Prevention is better than Cure.


    Saturday, April 24, 2010

    Starting an online business?


    In todays time, starting an online business is one of the most common options for money making. Online business can be very productive and profitable if done with proper thinking and due diligence. While going through I found a very useful video on the questions that are important to ask before you start an online business, and I am sharing it with you and hope will be of great help, mostly for them who are thinking of becoming an online entrepreneur.





    Please feel free to share you valuable comments and suggestions.




    Friday, April 9, 2010

    How Reading the Wall Street Journal Helped my Financial Life & Outlook

    I have had a Wall Street Journal subscription ever since the first year of business school, when one of our professors instilled in us the prudence of reading the Wall Street Journal every day. The Wall Street Journal is something special for a business manager, investor, stock market and finance guy. It is the last word on how the market is moving, and often, it is also the first word that makes it move. A few words of praise in the Wall Street Journal can hike up the stock price of a company, helping it make millions in a day; one negative sentiment, and a stock can drop many fold and destroy a business. The Wall Street Journal has an immense power on the economy of the US and thereby on the whole world; no other magazine is a kingmaker like the Wall Street Journal.

    I realized this power of the Wall Street Journal when I first started investing in the NYSE in a small scale. At that time I was a young and enthusiastic student, still fresh from the classroom, and I used to do a lot of research on companies that I would then invest small amounts of chump change in. Once we had a bet, just between friends, on who could predict the best mover in a day’s trade, just by doing research. So we all did diligent research, and I found a stock that seemed to me to be trading lower than it should, given its potential. I found the stock to be very interesting, and not only did I bet on it, I put in a couple hundred dollars – all my savings – on it.

    I lost the bet, because on the day of reckoning, my stock did not move very well compared to some of the more well known regular movers my friends had chosen.

    Then, a few days later, the Wall Street Journal came out with a report on that stock. Someone must have noticed what I did, because the report was pretty enthusiastic and recommended an immediate Buy. The next morning, that stock started trading like crazy, and by noontime, I had gained quite a bit of money. At the end of the day, when trading ended, that little stock had skyrocketed into a 200% gain, and I had made my first solid investment. I felt like Warren Buffett on one of his good days, and was forever 'worshipful' of the great WSJ.

    That’s the power the Wall Street Journal has on the market. I am sure there were other investors who had found that stock as I had done, and had invested in it, hoping to make money on it. Some of these may have been reporters of lesser journals even, who had probably written good stuff about it. But it took the Wall Street Journal to say something good about it before the market took heed of the stock and gave it a rise.



    Thursday, April 1, 2010

    Don’t Get a Home Loan Until You’ve Raised Your Credit Score


    In this day and age, credit has a massive amount of power over how you get to live your life. Your credit rating affects what rate you pay if you buy a car with a note. It also affects whether or not your utilities require you to put down a deposit before they activate. And not only that, but in most cases, a higher credit score is a mandatory part of securing a high paying job. Great credit ranks right up there with your resume and references. But of course, the most obvious benefit of having great credit is being able, not only to buy a home without having to save up enough cash for the purpose, but also to take out an additional loan against the property later on.

    A home loan can be a very valuable source of funding for a major project, such as going on to a higher level of schooling. It can also finance the addition of new rooms to the structure, or the building of a garage. A home loan can even be used to purchase (and possibly renovate) a rental property, so as to increase your income and net worth. Over all, when taken in moderation and used responsibly, home loans can be wonderful ways to expand your life… or access emergency cash, if something goes terribly wrong. But of course, like every thing else in your life, it is always best to get a great deal. And equally obviously, having great credit is a major component in proving that you are a low risk to the credit issuer. Here are some great ways to increase your credit score.

    The purpose of the credit score (and its attendant system) is to make certain that you are a reasonably low credit risk. And “low credit risk” means “responsible citizen who pays their obligations without being hounded.” If you generally live a responsible life, your credit score will reflect this.

    Not every one knows this, but paying your utilities on time actually contributes slightly to having good credit. And while this contribution is very small, it is dwarfed by how much NOT paying your utilities will hurt your credit score. To say nothing of the fact that having a utility turned off could be seriously harmful to your health.

    If you have any sorts of loans, pay them. Pay them on time, every month. If you do not pay on your loans, you will be seen as a high default risk. And if you are seen that way, you will only have access to high interest payday loans – which will help your credit score if you pay them properly, but they will cost you greatly.

    And do not expect that being perceived by credit issuers as a low risk can be accomplished quickly. A major portion of your credit score is determined by its length. One year is a start. Five years is better. Ten years is when the keys to the kingdom may finally be yours. Do not expect to rush to process, and you will find a GREAT home loan rate.


    Monday, March 22, 2010

    Finding Your Way Out of the Debt Dungeon


    This economy roller coaster ride is all upward spikes and downward spirals. The truth is, between the time traveling up and then plunging back down, our finances don’t seem to have gotten anywhere near the destination we’d like. We want financial stability, and freedom from the worry of how we’re going to pay the bills with our income as strapped as it has become. If your mortgage payment and all the other bills you owe equal more than your monthly salary, you may be in a position where you need an intervention in the form of a refinance or a debt consolidation loan.

    Refinancing your house, especially if it has retained its value and your current interest rate is either fixed and high, or worse yet, adjustable, is a great way to get out some of what you’ve put into the house, equity. Still, if your credit history is less than wonderful or the house has, due to the plummeting housing market, lost value, a mortgage refinance may not work for your particular set of circumstances.

    Consolidating all your monthly debts into a loan, which leaves you with one monthly payment, instead of a dozen, is the best option in this situation. Suppose you have a mortgage payment that would not be so bad, but you also have four credit cards, a car loan and maybe an unsecured line of credit that are all vying for slices of your income. There is no way you are going to come out on top at then end of the month without some help. That is what it means to consolidate your debt. It means you take all those smaller loans and lump them into one big loan. The new payment will be a lot lower than the combined sum of the individual loans, leaving you with more money to spend each month.

    There are, of course, down sides to both options. As mentioned before, a home refinance may not be smart for consumers whose homes have not retained or gained any value since they entered into their existing mortgage. In addition, a consolidation of debts will buy you some breathing room, but you will have a long-term loan that, for all intents and purposes, is almost like having another mortgage payment every month.

    Only consider bankruptcy as a last resort. For some people who have managed to sink so far into debt that there is no way out, filing bankruptcy can allow them to get out from under the burden and start again. They will, however, start with a broken credit rating and in some states, even the home in which they live is not protected under bankruptcy law.

    Wise consumers who find they are considering any of these options during these difficult financial times would benefit from the advice of a professional. You can find qualified debt counseling services that can help you weigh your options and assess your circumstances. These financial advisors can then give you an unbiased opinion of what your best option would be. Choosing the right option to get your debt under control now will give you back something the economy has taken from most of us, the sense that somehow you are in charge once more.