Money Minute: Thursday 6 February

Business debt recovery is now an important industry because it is a source of lost income. A company needing debt recovery services needs to find a firm that will take away the burden of collecting them in an efficient manner.

More people are likely to enter debt management plans. This is according to Michael Baxter, author of the Blindfolded Masochist, who explained that the financial severity the UK is experiencing wouldn’t be so bad if it was only Britain that was doing it. On the other hand, the rest of the world is following this measure; it’s becoming a global trend.

Each debt management company in the UK has hundreds of clients that depend on them for managing and repaying multiple loan debts. Each month, these people would faithfully pay their dues in hopes of finally settling their debts.

Debt management plans or DMPs are designed to make it easier for debtors to repay multiple debts that have grown beyond their financial capacity to pay. It basically consolidates all the loans of a debtor, giving him the benefit of repaying all his debts in just one monthly bill. This is a debt management solution that is permitted in several countries including the United Kingdom, USA and Canada.

MAT or the Money Advice Trust is a charitable organization that was formed back in 1991. The organization’s President Baroness Jean Coussins and a board of Trustees govern the operations of the whole company. This company was created with the aim to increase the quality and the availability of free and independent financial advice across the UK.

Becoming debt-free has become very important now more than ever. The economic downturn has hit everyone in the country and the rest of the world. Interest rates are skyrocketing and loans are becoming a pain to get. If you get caught in a debt cycle, chances are you’ll end up spiraling down to even more financial problems.

A report released just this week revealed that an increasing number of women and self-employed individuals are suffering from major debt problems that, if left unattended, can eventually cause insolvency. Atlantic Financial Management, a leading debt solutions provider, warned that this looming debt issue is worsening as part time jobs traditionally held by women are now being done by men and full-time jobs are becoming scant. Income loss is the most common reason why people enter a Debt Management Plan (DMP), according to Atlantic, a company that handles clients who are eligible for JSA or Jobseeker’s Allowance.

Every successful business is determined by the quality of its cash flow. However, the significant changes that are happening in the global financial climate, as well as in our domestic market have made a great impact to our banks, their customers and businesses. The weakening economy and other internal pressures caused some businesses, especially small businesses, to get into large debts that become too hard for owners to pay, thus prompting them to seek business debt help.

The U.S today is faced again with a credit crisis that seemed to bring the economy in another recession. Defaulted credit card loans worth millions of dollars and increasing number of unemployed causes so much strain in our weakening economy.

The United States has a long and sometimes controversial national debt history. As a matter of fact, in the whole existence of United States as a nation, there was almost never a year where there was no national debt. In here we will take a quick look at the U.A. national debt history.

Does debt matter? And why should we even care about how much money we owe to some random countries and persons? Debt does matter a lot, why ‘debt matters companies’ today are getting more and more important. If you don’t think debt is an important factor, you should consider reading the rest of this article – we’ll convince you!

In today’s economy, the buzzword is austerity. Gone are the days of living beyond our means using easy credit to do so. In order to simplify and decrease the stress in our lives, we need to reduce and eventually get out of debt. Here are six simple but important steps to get you started.