Category Archives: Finance

About One College Graduate Overcame a Six-Figure Student Loan Debt

After leaving college a few years ago, Stephanie Bousley found herself in the same predicament shared by over 40 million Americans; that of student loan debt. In fact, the holder of an MFA in film production owed nearly $200,000, a figure which soon ballooned to $289,000 after three unpaid internships.
Now, that’s no small amount of money to be set back with so early in life. Considering that the average salary in the U.S. stood at just over $48,000 in 2015, according to the Social Security Administration website, it is easy to understand why a six-figure student loan debt of that magnitude would be cause for concern.
But Bousley proved to be one not to panic. Instead, she buckled down and went about finding solutions to her debt woes. After all, she did get a first-class education for all her troubles, not only picking up several awards for her work in film production, but also holding bachelor’s degrees in international business and psychology.
It was then that she decided to use her education as leverage to get a well-paying job, which would make it easier to pay off her student loan debt and start building her future. Needless to say, that decision, while not being easy to fulfill, has worked out for her best interest. Today, Stephanie Bousley works in Singapore for one of the country’s largest hedge funds and has paid off most of her college debt. In addition, she is able to live pretty well with a high level of freedom, and travels frequently, while managing to spend time on her first love – script writing.
Wondering if this could be your story as well? The good thing is Bousley has decided to use her experience to help others who have been in similar situations. If you are currently facing high student loan debt, you are at the right place. This is your chance to get coaching on managing your debt, as well as valuable financial advice. Plus, find out how you can land high-paying jobs abroad.
Dealing with student loan debt can be pretty frustrating but, as you will find out, it doesn’t have to haunt you forever.

Bad debts recovery, worst situation by day In Dubai

Recovering of debts and management of bad debts are becoming high concerns in Middle East, the fluctuation of the economy in State has made the number of debt recovery cases as high as the skyscrapers in there but they also have strict laws and regulation to protect the organization from debtors that may hurt the balance of statement of the company.

Dubai being the city of high tertiary industrial has number of debt recovery agencies with highly experienced advocates that ensure the companies about the recovery of debts. Commercial debt recovery is yet another huge market yielded but its demand in Middle east and so Companies like Dubai Debt Recovery, Fort Equity and CEDAR Financial claim that they not only manage your debts but to recover them successfully and the same time securing the debtor creditor relationships.

The bad debt cases involve faulty debts due to identity theft, fraud, mismanagement of invoices etc. and methods of recovering them originally were mortgaging properties until cases went on to the debtors not having any. The scenario such were quickly identified and yet has been solved till date by the best agencies not just on national forum but globally.

The flexible deals of these agencies allow companies and organizations to recover content debts, the first party and third party prosecution helps the companies in making full conclusion in order to reach to the point that is in favor of the debtors.

Chris Maranis, the business development manager for Exus, told The National newspaper about debt-collection systems he has built earlier this year. He was asked about how the system would work in maintaining the high rate of bad debts in Dubai this was what he brought in to the spot light.

“In collections we have certain phases, so you have what we call early collections. This is the area where a customer falls into arrears – for example, he misses his installment day and banks start to communicate with the customer in a friendly and polite manner to remind him of his obligations. As you can imagine, as time goes by the banks escalate their communications to the customer from multiple channels. They can do either from a call Centre. They can do it by sending reminder letters. They can do it by outsourcing to collections agencies or by sending emails and any other means of communications. All this management of the delinquent portfolio of this call center, of this letter sending, of this outsourcing, can be done by a system. But collections systems can offer many more things that can benefit the bank and the debtor. This is very important. Many aspects of these systems or features they offer help the bank but also they help the debtors. However, we have seen that most of the banks have systems that were deployed more than six or seven years ago and they do not offer the new tools such as warning signals.

Upon asking how it will work he said

“One of the quite interesting aspects is the collections segmentation, as we call it. For example, think that you are a bank and you have 1,000 delinquent customers. Each one of them is a person. They might all be delinquent, but the treatment you are going to give to each one of them should be adjusted, if not to each specific customer, then to patterns of customers you can identify. So you have different customers. You have customers who have a temporary inability to pay because they have a very temporary problem. Or you have customers who are the people who are skipping their obligations in a very organized way. These are different kinds of people. I can give you an example that is very simple but it will help you understand. Imagine you have a loan and it is due on the first day of each month and imagine you get your pay cheque from your employer on the fifth of the month. That means that each month you are probably going to be delinquent for four days. If the bank does not identify this pattern in your payment methods, they might be calling you every month on the second of the month to remind you that you are late. This will irritate you. This will make you take your loans and go to a different bank. So you see, this risk segmentation can help the bank but it also helps the debtors.”

Each day the cases related to recovering of debts are reaching the lawyers and agencies while each day the suicidal situation of the other side makes it to the headlines. The mutual understatements are yet to be solved in the high functioning state economy.

Here Difference between the NRO and NRE fixed deposits

The financial savings of local Indian residents and NRI’s are vastly different. For one, NRI’s will be earning in their local foreign currency. At the same time, they may or may not also be earning a small substantial amount from India through rent or dividends. Keeping these factors in mind, the government has set up a banking system that caters to the needs of these individuals. This is where the NRI bank deposits come into place.

The NRI deposit systems has been divided into two different accounts, namely the NRO and the NRE fixed deposits. They function similar to the local fixed deposits. These accounts offer a host of benefits such as repatriation, tax benefits, currency flexibility, etc. that make them the preferred choice for NRIs.

However, there is a considerable difference between the two deposits. They include:

Interest rate: In most cases, the investing bank will have different rates for each account. You will need to check the available rates, to know what the highest returns will be for you.

Taxation: When it comes to taxation of fixed deposits, the NRO is taxed. Any interest that is earned from an NRO FD is taxed, according to the Income Tax Act, 1961. This attracts around 30{7bacd3b4157d43a6b88d975560cdc707d5369aa15801e12f5fcbfa7263a7b5bc} of the income, which is comparatively high when compared to FD tax rates. On the other hand, the NRE fixed deposits do not attract any taxed on any income earned. This factor alone makes the NRE fixed deposits favourable over the NRO deposit.

Repatriation: NRO fixed deposits does not offer repatriation on the principal investment. In fact, the interest earned from this deposit can be transferred to a foreign account. NRE fixed deposits offer the option for full repatriation of funds, which includes both the principal and accrued interest to a foreign account. These accounts simplify the process of transferring funds earned from a local Indian account, making it a great deal.

Joint accounts: An NRI can opt for another NRI joint account holder, for the NRO or the NRE joint account. However, an NRI can only opt an NRO account jointly with an Indian resident. NRE fixed deposits cannot be opened with any Indian resident, even if the said individual is a member of one’s direct family.

Withdrawal and deposits: Only funds that have originated from India can be used to open and invested an NRO account and fixed deposit. This is not applicable for funds earned abroad. Funds from the NRE account be transferred into an NRO account for the purpose of opening a fixed deposit. However, funds from the NRO account cannot be transferred to the NRE account. Any withdrawals that have to be made from either account will need to be done only in INR currency.

Interest rates
The rate of interest in NRO and NRE accounts may vary according to the bank you are applying in. As such, it is imperative that you check the available rates to find the option with the highest returns for you. Typically, an NRE or NRO FD is offered with maturity between 1-20 years.

How to Make Debt Collection As Easy as a Cakewalk

Whether you own a small company, a big one or a mere start-up, one major thing that you have to face is not getting your dues on time from your customers. That is why; usually what most of the companies do is they hire professionals who can deal with the company’s finance related issues. However, if you think you are not ready to hire a specialist in your company to deal with such clients because that might take a toll on your office budget, then it’ll be best if you hire a debt collection agency when needed, because they take the payment only when the accounts are recovered.

What is a debt collection agency?

Don’t know what a debt or business collection agency is? Well, it’s an organization that has a team of professionals who can easily help you get back all your debts from clients/customers. How? Well, they initially send letters and emails to the debtors and wait for their responses. But, in case they don’t receive any response, they will do every possible thing to track the debtors to get back your debt.

Now, you must be thinking, from where you can get such a service in Houston, Texas, right? Well, there’s nothing to worry as there are numerous debt collection agencies available all across this business hub of USA. But, don’t just hire a random agency. It’s wise to find a few companies online or by taking referrals and then comparing them. Comparing will surely help you choose the best collection agency in this city.

What should you compare before hiring a collection agency?

Wondering what to compare to find out the best agency? Then here’s a list of things that you should compare before hiring a commercial collection agency. Please take a look.

Compare the experience

When you hire an employee, you do check his/her experience, right? Similarly, when choosing a debt collection agency, it will be wise that you check that agency’s experience. Experience is something that will give you an idea whether the company is capable of handling tough to toughest of debt related issues. Hence, make sure you check every company’s experience and then compare it to see which one is more experienced.

Compare the reviews/testimonials

Before you choose a business collection agency, it is always better that you check their reviews and testimonials thoroughly. Why? So that you can get an idea of what their previous customers think about their service. So, do ask the companies to provide their testimonials. And in case they cannot show testimonials, look for online reviews. And after collecting the reviews or testimonials, make sure you compare and see which agency has got more thumbs up. The one that has received more thumbs up is surely the one that is better than the rest.

Compare the agency’s ‘win rate’

Last but not the least, what you have to do is compare the ‘win rate’ among those companies. Win rate means that how many cases a company has won out of all the cases that they received in the past years. By comparing the number of cases the companies has won, you’ll be able to filter the best collection agency that has solved most of the cases they have received in the past.

So, these were all the three essential things that you have to compare when hiring a commercial collection agency. Hope this article was helpful. For more collection agency related information, wait for my next articles.

Now Learning To Formulate A Balanced Cash Management Plan Is Essential

The budget management system controls our financial condition at home as well as in business. Today, the young generation has come up with larger than life rules of finance management and believe in living the current moment to the fullest. Although it is correct regarding life experiences, but when it comes to a practical life, stable financial condition is what makes sense. And we must think of many more factors than just living in the current moment. The formula that makes your finances regular and well managed is a heedful management of the future expanses, present cash availability and learning from the failures of the past.

The belief of investing everything in the current moment easily leads to financial crisis that doesn’t take much time in getting worse. When our financial web is scattered and broken, we start facing money problems such as debts and losses. The other factor that is related to cash management plan is also a lack of fundamental financial education that we hardly receive when we are growing up. We have to shoulder the huge responsibility of financial management suddenly without any warning and we start struggling in making our way through the challenging situations. That is why a balanced cash management plan is essential.

The modern age education and smart technology system has brought many positive changes and awareness about the importance of a well-built cash management plan. Many educational programs have been included in the curriculum to teach children about proper financial management from a young age. Businessmen are approaching personal budget coaches to deal with problems that may arise due to poor cash management to strengthen the chances of their success. Various financial institutions are offering interactive services of stewardship and other budget management plans.

People who are extremely busy in their work and hardly get time to look after their financial aspects are considering professional services that not only assist them in managing finances but also look after their major expenses. If you have already made mistakes and are thinking of ways to get out of your debts, there are also professional help options available that will help you find the optimal solution. You can always browse online for financial and cash management services to manage your money in a better and more efficient manner.

Tips To Select The Best Leasing Company For Your Car Wash Equipment

Have you decided to start a car wash business? If so, you will need to determine how you will be acquiring the equipment needed for your business. Though loans are a good option, one of the most popular ways to procure car wash equipment is leasing. If you wish to know more about the leasing options available to you, just contact the leasing companies in your area. But be sure to carefully filter them so that you only associate with good leasing companies.

What To Look For In A Leasing Company

When you have decided to procure your car wash equipment by leasing, your next decision would be to select a leasing company. To ensure that you only associate with a good leasing company, you should keep the following things in mind –

Lease Types: One of the first things to look for in a leasing company is the type of lease offered. Generally, there are two types of lease offered by a leasing company. A lease which allows you to own the equipment after the lease period is known as the Purchase Option lease. The second type of lease is called a Fair market Value (FMV) lease. But in an FMV lease, you do not own the equipment after the lease period. So knowing what types of lease are offered by a leasing company is very important if you wish to own the equipment after the lease period ends. Additionally, both lease will have two different repayment amounts. Usually, the monthly payment for the Purchase Option lease will be more expensive than an FMV lease. So if you are looking for the cheapest lease, then you should definitely enquire as to whether the company offers an FMV lease. Generally, most of the leasing companies offer both types of leases and as such, you should not face too much problem in this regard.

Types Of Repayment: You should also consider the types of repayment offered by the leasing company. Some companies will only provide a fixed repayment option in which you will have to pay a fixed amount every month over the lease period. This is the normal repayment option offered by most leasing companies. But some companies may offer an alternative repayment plan in which your monthly payment becomes lower as the lease period progress, to keep up with the decrease in the value of the equipment. For example, you may pay $500 per month for a $20000 equipment this year. But if the equipment is revalued at $12000 next year, you may only need to pay $300 per month.

Collateral: Another major factor you should consider is the collateral required by the leasing company. Normally, your equipment itself is sufficient collateral and companies never ask for any additional collateral. However, if your credit situation is very bad, then you may be required to submit an additional collateral. If such a situation arises, it is better that you search for another leasing company who can lease to you without any additional collateral. As said earlier, usually your equipment itself is the only collateral required by the company. As such, you are less likely to encounter such a problem.

Initial Expenses: You also should have a clear idea of the initial expenses you will incur to obtain the lease. There may be expenses like application fees and such. You should ask the company about the full expenses related to the lease. Additionally, leasing companies will expect you to pay a few months’ lease payments in advance. This may impact capital funds significantly, especially if your capital is limited. So it is very important that you know how many months’ advance you will have to pay. If you are lucky, you may come across a leasing company who do not require any advance payments.

It is also better to check the history of the leasing company to ensure that you do not get entangled in any fraudulent companies. Make sure that they have long years of experience in leasing equipment and that their customer testimonials are also positive. Associating with a reputable leasing company will go a long way in making your equipment acquisition a quick and stress free affair.

Here Reasons to pick on professional tax consultant services

Do you plan to hire the services of expert tax consultant? In case you are not certain whether you should hires one or not, there are a number of plus points that you should consider before taking the decision. The taxation laws keep on changing every financial year and thus it is very difficult for you to keep a track of it every time. Would you put all your focus on the business activities or taxation matters? It is definitely wise on your part to hire professional services for taxation matters. The reason is that so that all the tax related matters are done perfectly without any mistakes and issues. The specialist will keep a track of all the tax matters. Thus it is wise to hire the expert tax consultant services.
The work that taxation professional does is keeping a track of the accounting records of your company. The work that they do includes preparing forms, calculating earnings and also the things that you need to claim in bill.
What are the reasons behind hiring the professional services of taxation consultant for your ocmpany?
This is certainly take a lot of time and also be difficult for you to file tax returns and other things on your own along with the business activities. Also nor being a professional you might not possess the required knowledge. This would create a big issue for you and also sometimes you might have to pay heavy fines. Thus it is wise that you hire their services rather than paying penalty. All your tax related work will be done perfectly and in an organized manner.
The consultant goes through extensive training as well as has expert knowledge. The specialists are aware of all the federal laws of the concerned nation, meaning that all the company taxes can be handled by them perfectly.
Another benefit that you can experience with hiring the professional services of the tax consultant is that in case any penalty is attracted in their presence then it shall be divided into two. This is one thing that you need to clarify with them before you hire them. Thus, they would 1005 make certain that all the work is done before hand and no issues are there to attract penalty of any sort.

Now Bitcoin Binary Options are in Trend

Those who have been trading Forex know it well that Binary options, in their most common form, are very different to real options and extremely popular. In fact, they are a bet that the price of an asset will rise or fall within a given time frame. The risk and reward ratio is awesome when Bitcoin binary options trading are done professionally.

If trader wins the bet, the broker pays their stake multiplied with a win payout factor in a specific range that may go from. Similarly, if trader loses, he pays the stake minus a possible loss payout. Needless to say the trader is trading not against the market, but against the broker and when the brokerloses, the trader makes money.

Thus, Bitcoin binary options are a great trading method where there are a lot of great opportunities to make money. However, this is not a loss game for broker as it can in fact be of advantage for the broker to offer a payout that allows traders to win, as long as most other traders still lose. Thus, he can still not lose and trader still wins trading Bitcoin binary option.

Potential for Making Money Doing Bitcoin Binary Options Trading

Like Forex even Bitcoin allows the creation of smart contracts for binary options. According to the seasoned traders and experts the contract itself holds the funds in escrow and on expiry date pays all the funds to the Bitcoin address that was on the correct side of the true/false statement. This way it is now becoming popular among traders and even brokers.

Needless to say Bitcoin binary options allow the complete elimination of counterparty risk where the solvency of the option issuer is irrelevant if the funds are already locked in the contract itself. Similarly, it is irrelevant if the company or party that issued the option disappears, defaults or wants to change the terms of the contract.

Popular Bitcoin Binary Options Trading Providers

BTC Oracle, TradeRush, BitPlutos, AvaTrade, etc. are some popular Bitcoin binary options trading providers. These brokerage firms are offering exciting range of trading services and even discounts for new traders. AvaTrade in fact has emerged as one of the most popular name in the industry.

SatoshiOption is another name to reckon with when it comes to providing professional and competitive Bitcoin binary options trading for traders.

The Financial Literacy Month And Boost Your Kid’s Money Management Skills

Research shows that youth in America have a lack of understanding when it comes to proper money management skills. Teaching kids how to appropriately manage their finances is essential so they have the necessary tools to become financially responsible adults. Below are tips to help teach children about appropriate money management.

Use Cash – It may be true that credit and debit cards are more convenient to use, but children pay attention to how adults manage their money. Using plastic doesn’t allow them to see the actual interchange of money for purchases. Let the kids see that in order to make a purchase you have to hand over cold hard cash.

Don’t Spend the Money As Soon as You Get It – Always lead by example. Before you go shopping always create a budget, spell out what you intend to buy and compare prices of each item. Teach children that it pays to plan all your purchases before you buy.

Teach Kids About the Importance of an Allowance – Most allowances are tied to chores like making beds, doing dishes or taking out the trash. It’s always beneficial to give them the opportunity to earn additional money for larger chores. However you chose to dole out the allowance, it’s also important to accentuate that saving and sharing are just as important as spending. Teach kids to set aside money in their piggy banks or use a bank account to reserve portions of their allowance.

Bank & ATM Visits – Visiting the bank or the local ATM is a perfect way to explain where money comes from. Explain that banks don’t just give out money but it’s a place to keep the money they’ve earned. Call and arrange with your local credit union a tour of the branch to show how money is stored and dispensed.

Delayed Gratification – Teaching kids that good things come to those who wait will help battle the buy now, pay later attitude. Always reinforce the idea that waiting pays off. This approach could help them ward off credit card debt later in life.

Brand Names Do Not Always Mean Better – Reinforce that it’s not always beneficial to shop by brands. At the grocery store illustrate that generic products can save significant amounts of money for people on a budget.

Keep Track of Their Money – Show children the importance of knowing where their money is going. Have them keep track of their money in a notebook or on the computer. You can even make a file where they can organize their store receipts and bank statements.

Wants vs. Needs – At the center of any good money management program is the capacity to differentiate between wants and needs. This realization will help build the groundwork for managing finances as an adult.

Build a Budget – Have your child sit down with you and generate a monthly budget. Explain the reasons to keep track of all monthly expenses and then see how much money is left over to either save or make a purchase they want instead of need.

Create a Wish List – It’s hard for everyone to have priorities, so sit down with your kids and make a wish list of everything they want to do with their money. It will help to rank the items on the list by importance.

Games & Other Budgeting Activities – Games like Monopoly, Life and Easy Money are great ways for parents to practice money management skills with children. Research the Internet for other fun ideas and activities to promote children’s financial literacy.

Make the Most of Their Savings – Present your child with different savings accounts that could earn them interest like CD’s, bonds or regular savings accounts. Work with an interest calculator to show them how their money can grow over time with basic monthly interest. I’m sure they will be amazed.

Sound money management is a life skill you can teach your children, especially when they are young. Using yourself as an example is very important as they engage what’s going on around them. Make sure your lessons are age appropriate in an effort to lay a solid foundation for good money management skills as they grow into young adults.

You Can Use North Carolina credit union

Financial needs are in constant expansion and you will need a number of products to help you meet them. Since you do not have all the money you need under a mattress, you have to focus on every option you have at hand so you can achieve your goals. If you want to be sure about your choice, you must focus on why you need money to begin with.

There are a number of sources you can turn to for the money you need, but you have to choose the product that will meet your needs best. Even if some solutions seem easier, you have to focus on the impact it will have on you in the long run. A North Carolina credit union is one of the first sources you have at hand for the right financial options.

The type of loan you will solicit is meant to address a certain need. If you want to buy a house so you can relocate with the family, a Winston Salem credit union can offer a home loan. This is going to imply a certain effort as well as quite a bit of paperwork, but in the end you will be able to find a property suited for the needs of the entire family.

If you already have a house, but you are looking for the right means to get around, the North Carolina credit union is going to provide the vehicle loans. You will have a certain amount of money so you can purchase a new or even a used vehicle. The more freedom you will have for it, the easier it will be to make up your mind in the end as well.

Education is very important, but it is also quite expensive. A Winston Salem credit union is going to help you complete your studies at the right time and thus you will be able to build your future with a lot less effort. A college degree will help you find a good job and it will be easy to pay your installments and move on with your life.

A business also needs a lot of support to grow and a North Carolina credit union is going to provide the financial products that will rise up to the challenge. Loans are not the only solutions you have at hand. If you have some extra cash and you do not want to keep it under a mattress, you can create a deposit or an account to keep the money safe.

No matter what your financial needs may be, a Winston Salem credit union is going to offer a product to meet them from the start. It may not be the first option you consider for it, but you should learn more about it. If you take the time to visit the site at allegacy.org, you will find some of the best rates on the market and any type of loan you want.