Published: June 19, 2017, 12:36 am
Debt Consolidation Scams: Know the Signs to Avoid Getting Burned
In a perfect world, debt consolidation scams wouldn’t exist. But unfortunately we do not live in a perfect world. So just like any other industry, there are unscrupulous companies out there. These companies try to take advantage of businesses that need their services as well as good, unsuspecting people like you.
Instead of falling prey to these heinous scams, prepare yourself. Know what to look for when you seek help from debt consolidation companies.
Let’s take a look at some of the most important things to look for when you’re seeking to (Read more...
Published: June 19, 2017, 12:34 am
Get Creative: Use Consolidation Solutions to Diminish Business Debt
One of the biggest problems with any debt, but particularly business debt, is the concept of lending at interest. This is great for the lender, but it’s not so great for your business.
Interest can double the cost of a loan relatively quickly. Consider a $10,000 loan at 5% interest compounded monthly. After the first month, the price goes up to $10,500. After the second month, you’re looking at $11,025.
At that rate, the principal will double in less than a year and a half. Now, this (Read more...
Published: June 19, 2017, 12:32 am
Remember the Tax Man: Tax Consequences of Debt Relief for Businesses
When you’re trying to get your business out of debt, you have some options. However, regardless of what you choose to do, you’ll need to consider the tax consequences of debt relief.
Covering All the Angles
If you can negotiate with creditors and end up with a debt consolidation or a debt settlement, you’ll have to consider the taxable implications of those actions as well. What basically happens is that, in the US, the Internal Revenue Service considers funds which have been excised from debt to be income.
According (Read more...
Published: June 19, 2017, 12:29 am
Debt Consolidation: A Path to Giving Your Customers Better Service
If your small business is struggling under a mountain of debt, you might try seeking out a debt consolidation loan. Doing so could give you some breathing room going forward and allow you to provide better service to your customers right now.
Companies with Debt Can’t Be Very Customer-Centric
When your business is in debt, it can be difficult to have the funds you need to take care of your existing customers. For example, say your business is a managed service provider (MSP), and you want to obtain new (Read more...
Published: June 12, 2017, 1:59 am
How to Improve Your Finances with Free Credit Reports and Free Credit Scores
Your credit score and credit report can affect your business in profound ways. A low score, late payments, or errors on your credit report could mean that you pay higher interest rates—if you can get approved for credit in the first place. However, with free credit reports and free credit scores, you can better manage your finances. But first, there are some things you need to know and understand.
What Are Credit Reports and Who Uses Them?
A credit report has information on your current and (Read more...
Published: June 12, 2017, 1:48 am
3 Things to Consider When Choosing a Loan for Debt Consolidation
If you have made the mistake of using your personal credit to fund your startup, you might be in over your head. In that case, there’s hope—a personal loan for debt consolidation.
The beauty of a personal loan for debt consolidation that is it’s an awesome way to eliminate high-interest credit cards and other high-interest loans by consolidating them all into one low-cost loan. When you choose the right loan, you’ll pay a fixed rate and monthly installments to one lender, not 5, 10, or more.
The type of (Read more...
Published: December 20, 2016, 2:51 am
FICC Business Loans & Your Business
Many years ago, the United States took actions to ensure that government securities and mortgage based securities could be settled systematically. In doing so, the government effectively created the Fixed Income Clearing Corporation, or the FICC. The agency’s sole purpose is to deal with settlements, confirmations and deliveries of fixed income assets. This agency commonly offers loans to mortgage companies, investment managers, mutual fund traders, and commercial brands.
Before attempting to secure a loan with the FICC, it is essential you get informed with the process and then proceed with caution. This is true (Read more...
Published: December 20, 2016, 2:22 am
What You Need to Know About Unsecured Loans
As a business-owner. you probably understand how erratic the economy can be. The truth is, no matter how great your business is today, there may be times when you need capital. Whether it is to get your through a slow period, open another location or finance some much needed new equipment, a loan might be your only option.
If that is your situation, it is important to know what an unsecured loan is and why it can be considered somewhat risky. Once you know that, you can make a plan to ensure (Read more...