Mar
11
2010
Debt collection’s is a billion dollar industry. According to Rapid Recovery Solution, Inc. income from late fees and over-the-limit fees accounted for $14.8 billion dollars in the year 2004.
Mar
11
2010
The fact of the matter is, the more time that passes between the time the payment was unpaid and the time the customer is contacted, the less likely you are to be given any sort of payment. If you’re serious about making a profit, there are three ways to handle collection on past debt; in house efforts, hiring a collection agency, or taking legal action.
Mar
9
2010
I sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. Three months ago I noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.
Feb
14
2010
Today many business owners feel unnecessarily alone trying to run their businesses. They depend on internal accounting and book keeping, and they try to stay on top of all the tasks that need completing by themselves. When it comes to debt collection procedures, it is important to know that collection agencies are often better able to recover more of your past due debts quicker and more efficiently than you can on your own.
Feb
13
2010
This first step, when attempting to reign in your finances, is to make a budget. Consider where you can trim off excess spending and make the choices with your finances that make sense to your overall fiscal health. So, the next question you might have is how do I go about getting rid of my debts for good? The simple answer is negotiating debt. The best start may be to contact a professional who can offer you practical advice to lower and/or eliminate your debts. Many today are turning to debt negotiation agencies to assist them in this endeavor and are alleviating the stress that comes with having too many bills still left to pay at month’s end. Negotiating debt, especially our own can seem very daunting but if you start the “get debt free” process, either trying it on your own or with a debt consolidation company, you can empower yourself in the process.
Nov
14
2009
What happens at times to home owners is that suddenly they are responsible with having to sell their houses fast for fast cash. A situation that they unfortunately have to resolve. There are many situations that property owners might find themselves in that will demand a swift sale of their house.
Oct
18
2009
Once upon a time you could walk into a bank and get a loan on a handshake and your honor. This was when you actually dealt with a person and were seen as more than a number on a spread sheet. Now it?s all about your FICO score.
We can talk about several ways to review your credit but to keep it simple we are going to focus on the credit model created by Fair, Isaac Company. Better known as FICO.
Oct
13
2009
Creditors and bankers approve or disapprove loans based on your credit worthiness. In some cases it also will determine your credibility to certain employers or landlords.
A good credit rating allows you to be able to apply for loans and/or credit cards easily. It will also mean that you will have more chances of getting certain jobs that may require a background check. You will be able to pay your bills on time.
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