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Well, this might not qualify for “sweet little nothings”, but the truth is that almost all of us feel most comfortable in paying out the lowest possible credit card payment every month rather than making an endeavor to settle credit card debt all at once. It is also not untrue that receiving calls from the debt settlement department is a suffocating experience and when that happens, we have this sudden urge to have access to unlimited amounts of cash to throw in the face of the collection officer and give him an earful for disturbing or otherwise peaceful lives!
Well, in reality such stuff does not happen, as if we had access to unlimited amounts of cash we most likely wouldn’t be in debt in the first place. So if you are in debt and the threat of collection is hanging over you the following tips are going to help you make a credit settlement effectively and hopefully without much hassle:

1. Talk to people who really matter – Most of the times it is either the tele-callers or the recovery agents that try to negotiate credit settlement with us and almost always the propositions that we get sound unreasonable to us. These people are literally willing to leave no stone unturned to pull us into an unprofitable proposition and if you have the habit of making the lowest credit card payment every time you get the credit card bill, the chances are you would not even think of raising your voice in the apprehension of getting ridiculed by them.
   The truth is, you should stop wasting time talking to these people as they usually cannot decide stuff for themselves – is actually a better idea to try to talk to some supervisor and if possible even to people higher up in the chain of command and urge them to help you out. You would be quite amazed to see that in most of the cases, these people are more than willing to help and if you can clearly make them understand that you have at least been making the minimum credit card payment every month and are actually serious about getting out of credit, chances are you will be offered a more manageable deal.
2. You should talk about your problems – In most of the cases, the recovery agents and credit collection officers would make you listen to hour long stories about how they almost stopped the earth from spinning in a bid to get you a 1% discount on your credit – but you really shouldn’t be very patient and listen to them because you will already know for sure that the discounts offered are not going to do you any good.
   The answer here is to actually talk about your own problems and let them know the very reason that has been preventing you from clearing your credit. Stick to your point and make sure it gets across properly to people sitting in the higher ranks to get the best deal possible.
3. All communications should be documented – If you have been in credit for quite some time, chances are different people have dealt with your account at different times. In reality, most financial institutions have very flexible rules as far as credit settlement is concerned and different people dealing with your account will give you their own versions of such rules to make them look lucrative to you.
   Always make it a point that all communications from the financial institution are documented so you can refer to them before taking any decisions.

Robb Biggs is a financial expert working in the debt recovery team at Payday Loans UK. His focus is on helping customers with debt problems and often writes for finance publications and websites giving practical advice on how best to manage a debt problem.

In today’s competitive environment business accounting services are essential for firms, in order to stay ahead of the curve. Keeping a record of all transactions for example bookkeeping services allows firms to assess their current performance which then forms the ideal platform to forecast budgets and plan for their future growth strategies. These entries are consolidated to form Financial Statements which reflect crucial information such as sales, debtors, creditors, liquidity etc. These then can be compared to industry wise figures and past years’ figures to analyze business performance. Through this, business accounting services assist in the firm functioning efficiently.

Business Accounting Services – Crucial for Start up Companies

Business accounting services provide newly-launched firms the model support they need to grow and flourish. They advise firms on the most efficient ways of financing their venture and also offer assistance in obtaining finance. Obtaining funding has many hurdles to it, especially in today’s financial market as financial institutions tend to be averse especially towards new small businesses.

Start-up firms typically have a choice between debt and equity financing, and the accounting firm handles the responsibility of analyzing available options. This includes an extensive study of the industry as well as the the financial position of the owners, following which the best alternative is suggested.

For example, if the new entrepreneurs of the new company are financially strong and have cash available for investment, then debt financing might be the way forward since money can be borrowed against liquid assets. For industries which are profitable but cash inflow takes time to kick in, equity finance might be the best way to go about, as cash may not be sufficient at an early stage to service debt and mark up.

Business accounting services also guide start up companies regarding the business structure that suits their specific industry the most. From a tax perspective, this is crucial because different business structures have varying tax obligations. Business structure also has an effect on the paperwork in the company, personal liability and the company’s ability to raise money. Therefore this decision is crucial and the accountants ensure the journey begins on the right track. It further helps start-up companies by formally registering their business and assists them in obtaining bank accounts.

Business Accounting Services – A Stepping Stone For Established Companies

Apart from providing bookkeeping services, business accounting services construct financial statements and prepare reports on performance, profitability and liquidity and help firms efficiently manage their payroll. Additionally, the firm also manages and provides employers with data on former and current employees and if required also help screen potential employees

Tax season is usually a nightmare for all companies, whether new or established. As a result, there is nothing more comforting than having tax calculations taken care of, which allows entrepreneurs to concentrate on the core functioning of the business, and on making it more profitable. Tax services include payroll taxes, taxation on company assets such as properties and cars, capital gains tax etc.

As part of the package, payroll taxes are also handled which are either levied directly on employers as a proportion of the salary payout or employers are required to withhold and thus income taxes at source. In either case, the service ensures smooth and efficient functioning and helps the untrained businessman avoid legal complexities and technical jargon.

On a personal level, business accounting services helps seasoned businessmen improve their work life balance which reduces stress levels. They enable the business to plan for the future and explore new ideas. They work on the business rather than “in” it and hence have a fresh perspective. This in turn gives rise to innovative ideas allowing the business to succeed and achieve various milestones.

Anthony Azevedo, CPA is the managing member of EZCFO a bookkeeping company focused on business accounting services.

Debt is a widespread problem today which is affecting businesses and individuals alike. When a person or organisation is in the mire of insolvency escape can seem impossible, but there are ways out, including individual voluntary arrangements or IVA.

Troubled times

It doesn’t take a financial wizard to see that the economies of numerous countries are struggling at the moment. The UK, the US and many European countries are in dire straits and this economic difficulty is filtering through societies, affecting many people inhabiting these nations. In such troubled times it is easy to fall into debt or greater debt, but thankfully there are ways to get back to solvency.

Potential ways to escape debt

There are a number of options open to people struggling with debt. At the most dramatic end of the scale there is bankruptcy, which will wipe out debts but also mean that someone can’t borrow money for years afterwards. Another option that dramatically reduces debt without the future limitations of bankruptcy is an IVA.

IVAs – what you need to know

An IVA is a formal repayment proposal to creditors, with which a debtor attempts to agree to repay reduced sums. A creditor is likely to agree to an IVA as they will often receive more money back than if the debtor becomes bankrupt.

IVAs were initially designed to provide relief to businesses that fall into spiralling debt, but as consumer debt is increasing today more and more individuals are proposing IVAs. There are subsequently a large number of firms offering IVA services, but it pays to do some research here to find the most suitable company on the market.

When it comes to finances many people bury their head in the sand and spend up to, or over their means every month without considering the future. If people are happy with their lot and lifestyle then this is not necessarily a bad thing – so long as debt is kept under control.

However, of course the majority of people have dreams and aspirations for which healthy finances are helpful or even vital. The average person could never save up for a house deposit, for example, without cutting down on outgoings and planning ways to conserve funds. Such a person would also need a good credit rating to secure a mortgage, which they may not have if they live on credit and are constantly in debt.

There are numerous benefits to having one’s finances in order. This reduces the stress and anxiety that go with unmanaged debt and therefore leads to a greater sense of ease and comfort. It is also good to know that some money is put aside in savings or investments, for a rainy day or perhaps to make a large purchase such as a property. With the advantages of financial planning in mind, here are 5 tips that are well worth considering:

1) Pay off credit cards

Credit cards carry high interest rates so if the balance is not paid off each month, they can incur considerable interest. Making minimum payments will barely touch the outstanding balance either, so credit cards should be paid off completely as soon as possible. Sometimes low interest loans are the best way to do this, but a banking manager should be able to suggest a suitable plan of action.

2) Reassess outgoings

An effective way of saving money is simply to cut outgoings. Many people are in a habit of spending more than they need to, so by reassessing what they spend each month they will most likely be able to find several areas where savings are possible. People should check direct debits and if they are not necessary or beneficial, stop them immediately.

3) Use an ISA

An ISA is a way to save up to £3000 in a tax free account and this benefits savers much more than a regular savings account. People should choose an ISA if they are saving and use their full ISA allowance to maximize its effectiveness.

4) Get a pension

This is certainly an area that many young people ignore, but this could be to their financial peril in the years to come. A pension is a vital form of financial planning and there are a variety of products available, offering facilities such as pension release and drawdown. Anyone wanting a comfortable retirement should ponder their future without a pension.

5) Make a will

Making a will is another area that people often ignore, perhaps unaware of the possible consequences of dying intestate. Making a will ensures that someone’s money and assets goes to the people they want it to, and stipulations can be included in a will if the donor wishes. A will is not a death wish, merely a shrewd financial precaution.

When you or someone you love has been arrested, emotions can run high. Instead of getting concerned and worrying about “worst case” scenarios, educate yourself about the bail process.

Here are three myths about bail debunked.

1. If a family member can’t pay your bail bond, you stay in jail.

Although a family member is allowed to post the money required for your bail (if any), you can also have friends take care of this for you.
The basics of bail are fairly simple. You are innocent until proven guilty, so after your arrest, the court must gather evidence to convict you of wrongdoing. Likewise, you are allowed to obtain a lawyer to defend you. Bail is a document that states you can be set free on the condition that you will return for your court date(s). You may have to pay a certain amount of money for bail as a deposit of sorts. This increases the likelihood that you will return to court if there’s a good reason why you may not want to.

A family member or friend that pays the amount requested for your bail bond is called a guarantor. This person is responsible financially if you do not come back to court for trial (of course, you are also legally responsible for deciding not to return, too).

2. There is no rhyme or reason to bail amount.

This is untrue, too. The court has many reasons for setting bail at the amount they choose to set it at. One factor in determining bail is the severity of the crime. If a crime is very minor, there may not be any money required for a bail bond. If the crime is more serious, the amount can be hundreds of thousands of dollars or more. Also, the court may consider the evidence, as well as your general character and past criminal record when determining bail amounts.

3. You have to come up with the whole bail amount.

This is one of the biggest misconceptions about bail and bail bonds. The only time you have to come up with the total sum requested for bail is if you “skip” bail, or do not show up in court when you are required to. If you do what’s asked of you, typically only ten percent or so of the total amount needs to be paid to the bail bond agent.