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Unsecured Debt Consolidation Loans – Debt Reduction Without Using Collateral

Unsecured Debt Consolidation Loans – Debt Reduction Without Using Collateral

Eliminating debt is not an easy task. For this reason, many people carry high credit card balances for several years. Homeowners may take advantage of home equity loans or refinancing to reduce debts. In addition, persons with a vehicle title or collateral may obtain a secured personal loan to payoff debts. However, there are also options for eliminating debts that do not require collateral.

What are Unsecured Debt Consolidation Loans?

In a nutshell, unsecured debt consolidation loans are personal loan that do not entail collateral. Prior to a lending institution such as a bank or credit union approving a loan request, the applicant must submit some sort of collateral. Typical collateral includes a vehicle title. Hence, if the loan is not paid, the lender may claim the applicant’s property.

Because unsecured debt consolidation loans are not protected, they are harder to qualify for. Each lender has a different criterion. However, most lenders require good credit and a sizeable income.

If you are hoping to become debt free, a debt consolidation loan is the answer. Although unsecured loans carry a higher interest rate, the rate is considerably lower when compared to credit card rates. Moreover, debt consolidation loans have fixed terms.

Other Debt Consolidation Options without Collateral

Again, qualifying for an unsecured debt consolidation loan is tricky. Some lenders do not offer these types of loans. Furthermore, the lenders that do offer unsecured debt consolidation loans have strict lending requirements. Unfortunately, it’s impossible to get approved for an unsecured loan with poor credit. In this case, you may have to explore other alternatives.

If a home equity loan or refinancing is not an option, you may consider transferring your high interest balances to a low rate credit card. This will lower monthly payments and make is possible to reduce debts.

Another option involves consolidating debts through a credit counseling or debt management agency. These agencies negotiate lower interest rates, and consolidate debts without collateral or credit checks.

If using such an agency, you will be placed on a payment plan. Because debts are consolidated, a single payment is submitted to the debt management agency each month. These companies are very effective, and can help you become debt free in five to ten years.

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What is the Federal Debt Relief System?

The Federal Debt Relief System is a unique company because of their determination to educate debtors in the United States of America. The company works to alleviate the debt of many individuals around the U.S., not just by helping with the actual debt of the individual but by also bringing education to the individuals about debt and debt relief. When a person signs up for the program, they will get an educational newsletter and video that can be utilized in order to help the individual understand more about the program and their situation.

The company itself offers free consultations to individuals who are interested in their services. However, the program is not for everyone since it is an education program as well as a debt relief service. Some individuals that will benefit the most from such a program include people who owe more than ten thousand dollars in debt. If you choose to sign up with the company, you will not have to enroll all of your credit cards in the program. You have the choice of which credit cards will and will not be included in your program. Debt that works within the program can include credit cards, especially major credit cards, unsecured personal loans and other lines of credit cards. Secured debt is not covered in the Federal Debt Relief System program. Medical bills, child support, business debt, utilities and student loans are also not always covered in the program. Accounts will be closed during and after the program takes place so that individuals cannot get in any more debt while they are going through the educational process. The program works well with thousands of creditors across the country.

If you have debt that is in collection, but you have not made any payments on these collection debts, you can include that debt in your Federal Debt Relief System program. If you have made a payment toward that collection based debt, the Federal Debt Relief System cannot help you with that debt because your payment signifies your belief in the validity of the debt that you are being charged. The program will not work for debt that is already in consolidation. The processes that are accomplished by the Federal Debt Relief System can be performed by individuals, but only if they are lawyers.

For tax consequences, it is important for individuals to get the proper information about how the program will affect them from a tax standpoint from tax professionals. This is because the program does not give out this type of financial advice and sticks to the areas of education that they are best suited for. Legally, it is not possible for the company to guarantee their work. No lawyer can guarantee their work one hundred percent because the legal system is not always clearly able to be forecasted. However, it is important to note that the program has a one hundred percent success rate to date and the program continues to be improved upon regularly. The program’s associates are working on a continuous basis to ensure that their consumers are happy and the debt is taken care of in a legal and educational manner.

What Is Reverse Merger, And Is It For Everyone? Part

What Is Reverse Merger, And Is It For Everyone? Part 1 A reverse merger is a method used by many small and mid-cap companies to initially go public, its the purchase of, and reverse merger into, an existing public shell company. This is inexpensive compared with conventional Initial public offerings (IPO). This is also a … Continue reading What Is Reverse Merger, And Is It For Everyone? Part

What Is Reverse Merger, And Is It For Everyone? Part 1

A reverse merger is a method used by many small and mid-cap companies to initially go public, its the purchase of, and reverse merger into, an existing public shell company. This is inexpensive compared with conventional Initial public offerings (IPO). This is also a simplified fast track method by which a private company can become a public company.

In a reverse merger, an operating Private company merges with a public company that has little or no assets, nor known liabilities (the “shell”). A shell is what remains of a once public company that has ceased to operate, by going bankrupt or liquidation of assets. In some rare instances, the shell may have some amount of cash remaining for investment into the new enterprise. The public corporation is called a “shell” since all that exists of the original company is its corporate shell structure and shareholders. The private company owners obtain the majority of the shell corporation’s stock (usually 90-95%) through a new issue of stock for the private enterprise or asset.

The public corporation will normally change its name to the private company’s name and elect a new Board of Directors which will appoint the officers. The public corporation will usually have a base of shareholders sufficient to meet the 300 shareholders requirement for eventual admission to quotation on the NASDAQ Small Cap Market or American Stock Exchange (if the private company’s financial condition substantiates other NASDAQ or AMEX requirements). The company must file a form S-4, this form is use to register securities in connection with Business combinations and exchange offers. although some shells have as few as 35-50 shareholders, and are currently listed (or can apply for listing) on the OTC Bulletin Board or the NQB Pink Sheets.

A Reverse Merger may be the quickest way to go public but is it the best?Lets look at a few drawbacks of using a Reverse merger to take your company public.

(1). The cost of the shell: the price of corporate shells has skyrocketed over the last couple of years, due to increased SEC scrutiny and demand for shells by Chinese companies looking to go public and trade in the U.S.

The price of public shells today start at $500,000.00 and people are paying it. With all the other expenses the final cost of doing a Reverse Merger could be close to one million dollars.

(2). Greedy shell owners: The shell owner not being satisfied with the $500,000.00 Plus he gets for the shell and usually keeps 5-15% of the shares for himself.

The shell owners shares will come out and cause problems for your share price when you least expect it, even if he sign an agreement not to sell for a year, he can not be trusted, its the nature of the beast, greedy and slimy like all snakes.

Dont let the shell owner dictate to you and insert a stipulation in the contract forbidding you to do a reverse split, after all he needs you more than you need him, you can go public without him but he cant get his money without you.

(3). The smooth talking consultant that can sell ice to an Eskimo in the middle of winter. He will paint a rosy picture and not warn you of possible bumps in the road to the public square.

Often the consultant may be the shell owner at the same time or at least own a piece of the pie, and is disguising his ownership with the help of a Lawyer.

The consultant should have financial industry experience, if he doesnt have a website, most likely he does not want the visibility that the website provides and is operating in a stealth manner, under the regulators radar screen.

A website provides a open forum for consultants to do business but many shy from it because they do not want the regulators to see what they are doing, many have been barred by the SEC from having any involvement with securities transactions.

I keep a website and write articles because I want the visibility they provide. In many cases if you type the name of the consultant into google you will be able to see if they have been convicted by the SEC of securities fraud in the past.

(4). Due diligence: proper due diligence can save a lot of headaches later on, examine the shell closely, why are they out of business? Or if they have any hidden problems Such as angry employees, upset investors, product litigation. Or inconsistencies in prior financial reporting which can cause serious SEC problems down the road.

(5). Short Sellers: When I was a market maker I tried not make a market on the stocks of companies that used certain consultants because between the shareholders, the stock held by the shell owner and various other group the potential for a big sell off existed., short sellers know that when that stock comes out the share price will go down so they try to get there first.

Call Centers : Say Hello To Big Business!

The elusive dream of a successful business depends on how well you attract the interest of potential clients. In order to attract clients, you need to capture the imagination of aspiring and existing business owners everywhere. Making such a big impression establishes professionalism and creates trust and confidence.
The growth of the call center industry signals the beginning of a new age in business and communications. During the past few decades, there has been a major transformation in the way people work, socialize, communicate, and engage in business. Call centers offer a variety of services to organizations and customers such as answering calls, handling orders, complaints, providing technical support to customers, direct response advertising, infomercials, etc. The demand for call centers increases as businesses diversify and their products and services become more complex.
In todays global economy, call centers optimize a client company’s investment in human capital by providing market differentiation, brand identity and commitment, and ultimately, operational success. Their business strategy is built on excellence in such areas as technology, database management, and the human capital.
Clients who are always on the go will not sit up with a recorded message when they call. Having trained customer service agents to answer the phone for you gives you the enhanced image and professionalism clients always look forward to. No one knows that these agents are not inside your office. These agents can talk to people all over the world anytime and and access vast amounts of information at the click of the mouse. They take pride in providing the most advanced solutions and technologies in the industry. You need to let the client believe that you can fit into the high-powered executive world just as well as anyone.
Call centers do more than just provide a 24/7 “live” call answering service and take phone messages for you. They help screen the calls to minimize your interruptions yet they can just as easily connect to you an important caller in seconds. The need to make an immediate human connection is a concern of every potential clients. A client’s first phone call inquiry is so important that is why it is necessary to make that good first impression as well.
The call center industry has paved the way for cost-efficient work force. It has reduced overhead, employee paperwork, and extra expenses that are usually associated with hiring employees, acquiring furnitures, as well as office equipment and technology. No more hassles of having enough phone lines and repair maintenance. With customer service agents to answer the calls 24-hours a day, 7 days a week, you get a toll-free business phone number and only pay for actual calls answered.
Part of the service that call centers offer is to gather important contact information for your sales and marketing campaigns. They take the time to get to know your business, find out who your clients are, and identify what customer service needs you can offer.
With the proliferation of call centers, the vision of flowing profits, industry respect, thrilled customers, and a successful business is as easy as saying hello.