Author: Finance Tips

Should You Sell Your Life Insurance Policy?

    Finance Tips

In 1911, the United States Supreme Court Grigsby and Russell decision deemed that life insurance policies are personal property. What does this mean for you if you own a life insurance policy? Well, it means that you can sell it to a third party for money. All you need to do to keep your policy is continue to pay premiums so death benefits are still received when you pass away. Selling your life insurance policy is not difficult.

There Are Many Reasons for Selling Your Life Insurance Policy

Why should you sell your life insurance policy? There are actually many reasons why selling your life insurance policy is beneficial to you. Perhaps you cannot afford the coverage, you think your premiums are way too high, or you just do not have a beneficiary that relies on you financially anymore. Those are all good reasons to sell a life insurance policy to a life insurance settlement company.

Selling Your Life Insurance Policy Can Give You a Quick Cash Influx < Continue reading Should You Sell Your Life Insurance Policy? →

Why Hiring a Debt Collection Agency Is Always a Good Idea

    Finance Tips

Debt-owned is a very detrimental liability for many businesses, and as such, firms sometimes have to outsource their debt collection to a debt recovery agency to recover debt from defaulters. The phrase “time is money” holds much truth, especially in the business field. Expending time and effort on debt collecting could take away precious time that you could spend on other profit-generating activities. This piece will highlight some key advantages of outsourcing debt collection to keep your business afloat.

Benefits of Hiring a Debt Collection Agency

All businesses require funds to keep the enterprise afloat. But unfortunately, defaulted debt haunts many companies and precludes the smooth operations in the business. Collecting debt from unreliable customers can be very frustrating, especially if the business is already overwhelmed with other time-consuming activities. A business debt collecting agency helps you meet more pressing business demands as they recover the debt for you. Here are a couple of reasons why outsourcing debt collection to a collection agency is extremely beneficial.

1. They Are Successful in Their collection

The chances of successful debt recovery on hiring a collection agency increase manifold when compared to internal debt collection. In 2016 alone, debt collection agencies were able to recover an astounding $78.5 billion in debt. This figure goes to show how successful debt recovery agencies are in their collection endeavors. Because business debt collection services have trained professionals, they have the necessary know-how on how to conduct the collection of unpaid debts professionally. The firms even make friendly payment plans and arrangements with the clients to ensure the success of the collection process and to maintain good relations between the client and the business. In the end all parties win, because your clients can save their credit score before it’s too late.

2. Faster Payment from Clients

Clients are more inclined to pay when debt collection is in the hands of a debt collection agency. If debt payments are a bit slow, then consider a third-party collection agency to hasten things up. A debt collection agency demonstrates to clients how committed your business is to recover delinquent debts and will make them prioritize debt payment above other things.

3. Proper Documentation

Debt collection agencies always keep a record of their debt collection efforts, so if any legal issues arise, your business has sufficient evidence to present that they made many considerable attempts to recover the unpaid debt to prevent liability on the part of your business. This documentation is also important for future reference, the next time a client wants goods and services on credit so that you won’t be in the same situation again. The documentation is also vital for tax reasons to keep you in good books with the IRS.

4. Saves You Time and Money

Businesses spend a lot of resources and time recovering debt, which could be spent on more crucial matters concerning the productivity of the business. Debt collectors use the same billing option as your company so that you can focus on more important matters as the unpaid debt streams in without having to micro-manage every aspect of the debt collection process. Rest assured, the debt collectors utilize only the best techniques to recover the debts and are determined and incessant in their debt collection so you can take a load off and rest assured you’ll get your money eventually.

5. Versatility and Flexibility

Debt collectors adapt to your business model. They can align their debt collection procedure to fit the objectives and goals of the business while maintaining the professional outlook of your firm. These agencies are not limited to any businesses but can render their services across the board, and you can even seek their services for accounts receivable debt collection.

If unpaid debts are causing you sleepless nights, you need not fret over the matter; a collection agency is glad to take over debt collection and help keep the business afloat.

Are You Looking at Options for Changing Your Financial Situation?

    Finance Tips

You are only on chapter two of this book, but you already feel yourself transforming. You believe you are grasping this idea of belonging nowhere and everywhere at the same time. And while the whole concept is a bit epic, it is nice to know you are not the only one who struggles to find a place.

Even if you have always worn your unbelonging as a sort of badge, it has always been a lot less painful than admitting that you actually did not really fit in with any group. This latest book that you are reading, however, points out that there really is no true belonging. It is condition that is made up, created. Something people tell themselves to either make people feel good, because we do belong, or to feel bad, because we do not belong.

It can often be difficult to believe that this idea of belonging is really just a construct of our minds. When you realize, however, how it feels to be surrounded by people from all walks of life, a group that is focused on one goal, you begin to se Continue reading Are You Looking at Options for Changing Your Financial Situation? →

3 Tips for New Trucking Company Owners

    Finance Tips

The United States is considered a land of opportunity. One of these opportunities is starting a small business of your own. Research from the United States Small Business Administration shows that there are about 28.8 million small businesses in the U.S. Entering into any type of business, especially those in the trucking industry, comes with unique challenges. Considering that, it’s wise to prepare yourself for these challenges by learning how to manage a trucking company. Here are three important tips every new trucking company owner needs to know.

  • Find Your Company’s Target Audience

    Throughout the world, all sorts of trucking companies transport goods. However, it’s difficult to market your business to every consumer in the world. If you’re wanting your new business to be successful, it’s wise to find your company’s target audience. By spending time researching your company’s niche, you’ll know exactly what type of vehicles and equipment to purchas Continue reading 3 Tips for New Trucking Company Owners →

Here are 3 Things You Can Purchase Via Lease to Own Programs

    Finance Tips

About 50% of American households are believed to be living paycheck to paycheck, which can make paying for high-end items difficult. Fortunately, many companies offer lease to own programs that allow customers to buy relatively expensive items by paying for them in fixed installments over a period of time until the balance is paid in full. These programs, which are also known as lease purchase programs, can be very beneficial to those who might not be able to otherwise afford these items. This article will take a look at several items that you can purchase via lease to own programs.

  • Furniture Financing: One item that can be purchased via lease to own programs is furniture. After a house and a car, furniture is the third most expensive item a person will buy during their lifetime. Many furniture stores will offer rent to own furniture deals that allow consumers to pay for furniture sets in installments. The benefit of rent to own furniture is that it allows customers to ge Continue reading Here are 3 Things You Can Purchase Via Lease to Own Programs →

Here are 3 Tips for Flipping a Home

    Finance Tips

The practice of house flipping has become popular over the years. In brief, house flipping is when a run-down house is bought for a certain sum of money, fixed up, and then ideally sold for a profit. House flipping is typically done over a relatively short period of time, since the idea is to make a profit quickly. If you’re looking to enter the house flipping business, this article will be taking a look at several tips for how to flip a home.

  • Secure a Hard Money Loan: The first and possibly most important tip for flipping a home is to secure one or more hard money loans from a hard money lender. Hard money loans can also be known as bad credit loans, because they can be given to people who normally wouldn’t qualify for a loan because of their credit score. Bad credit loans generally make it possible to purchase the home that is going to be flipped and have quick approvals, so it is important Continue reading Here are 3 Tips for Flipping a Home →

Can You Get a Credit Card from a Credit Union?

    Finance Tips

Have you been curious concerning whether a credit union credit card would be good fit for your financial options? Credit cards can be issued to people over the age of 18. Seven out of ten people have at least a single credit card. It seems like many big banks offer credit cards too. Which is better, getting a credit card from a larger banking institution or a credit union? At a glance, credit cards from credit unions typically offer lower fees. But what is a credit union and why should you get a credit card from one of them?

A credit union is a member-owned, nonprofit bank with members-only, all-volunteer boards. Big banking institutions typically have higher interest rates and fees and share their profits with shareholders. Credit unions pass their profits to members in the form of low fees and interest rates. Credit unions also serve their communities by offering banking services to people in the same geographical area, who work for one particular employer, or who are m Continue reading Can You Get a Credit Card from a Credit Union? →

Things to Know Before Getting a Commercial Vehicle Loan

    Finance Tips

For most people, getting financing for a commercial vehicle is complicated and not anything close to other forms of financing. You will be asked to provide a ton of documents and the loan processing will take a significant amount of time. Obviously, there is a reason why commercial truck financing process might take more time compared to other loans. First, vehicles tend to be very spendy. Even the financiers know this all too well. Once you decide to seek, commercial truck financing, there are many questions that will be going through your mind. You will be asking yourself about the loan repayment period and what would happen in case you default. Some of these concerns are the reason why lenders find heavy duty truck loans to be risky. There is also the issue of bad credit. Before any commercial truck financing can be advanced to you, the lender looks at Continue reading Things to Know Before Getting a Commercial Vehicle Loan →

Here are 3 Uses for a Hard Money Loan

    Finance Tips

There are many types of loans available, everything from student loans to business loans, and then there is something known as hard money loans. These loans can be used for a number of financial reasons, but hard money loans stand out due to how they are acquired. Unlike most loans, which are given by the bank, hard money loans tend to come from private money lenders (also known as hard money lenders), who can be anyone from a family friend to a private lender who specializes in these types of loans. Hard money loans can be used for a number of purposes and this article will take a look at a few of them.

  • Privately Funded Mortgage: One use for a hard money loan is that it can be used to help with a privately funded mortgage. As the name implies, a privately funded mortgage is set up between two individuals, and not, as is common, between an individual and the bank. Mortgage paymen Continue reading Here are 3 Uses for a Hard Money Loan →

Considering Loans In The United States

    Finance Tips

If you’re an adult living in the United States, it is likely that you have taken out one kind of loan or another in recent years. And even if you haven’t taken out a loan, it is likely that you will in the years that are to come. After all, life is expensive, and there are certainly a great many situations in which taking out a loan is very much appropriate, if not even fully necessary. In total, after all, the owed amount of money based off of loans is currently around $38,000 per person (and that’s not even including mortgage loans, and important type of loan that will be discussed later in the article).

For instance, auto loans are hugely important indeed, with millions of people having some form of auto loans all throughout the country at any point in time. After all, cars and other such motor vehicles – especially brand new ones – are quite expensive indeed and while many people very much need motor vehicles to go about their day to day lives, paying for such vehicles is not Continue reading Considering Loans In The United States →