Pippa Malmgren: Covid, NFTs and Trump’s next big adventure – MoneyWeek Videos

IF YOUR FIRST WRITTEN OR ORAL REMINDER doesn’t produce a satisfactory response within ten days, be ready to follow up quickly with a more formal, written demand. Face up to the fact that your initial “good will and positive rewards” approach didn’t work, and emphasize the arsenal of legal weapons you have available to collect if voluntary payment isn’t promptly forthcoming. The very fact that you now display detailed knowledge about your legal rights may convince a debtor to pay rather than avoid you.

At present, many countries are plagued by the late payment culture. Undoubtedly, businesses are the most affected by this phenomenon. They are compelled to spend time and money for chasing payments, which they would have otherwise devoted to further developing.

Businesses that have difficulty in obtaining payment from delinquent accounts can find a solution in agencies that specialize in commercial debt collection. These organizations are experts in dealing with this type of predicament. They work by negotiating directly with debtors to make sure that payments are collected through passive means, such as letters and notifications.

Whether you have a small business or a large, you know that business of all kinds rely of successful flow of cash so that they are able to operate smoothly and effectively. As a business owner, it is crucial to manage your income as well as outgoings associated with your business. This in turn will ensure you overall success and profitability.

Dealing with collection agencies and lending companies can be very stressful. These people will do almost everything to pressure borrowers in repaying their financial accountability.

Getting to where you want to be financially just takes small positive decisions and actions. Every little positive change will add up over time and make a dramatic difference to your finances. Learning to shrink your Financial Black Hole will help you achieve your financial goals even faster.

Australians adapted a more cautious attitude to debt as a result of the Global Financial Crisis. Most of the household savings are deposited into savings accounts, which is a good indication that the Australian consumers are saving for larger purchases.

To have a better chance of getting their loans approved, borrowers should first and foremost put order in their finances. So to those who want to make a big step in putting their finances in order, hopefully the following pointers can help you out.

You may have heard of how important a good credit score is towards owning your dream house. It widens the financial reservoir to where necessary funds for the down payment and monthly mortgage dues can be obtained. If today you are thinking that anytime in the near future will be the right time to purchase a house, you should be laying out plans on how you can improve your credit score.

The credit card is the most common mode of payment for merchandise and services in most countries around the globe. Credit card firms charge fixed interest rates. Maximum credit limit depends on the person’s credit rating.

There are various companies providing free debt advice to people facing financial crisis. However, you must keep in mind some important points while choosing a debt solution service.

During severe debt situations, professional services can provide free debt advice to help you overcome the crisis situation efficiently and in an organized manner. Difficulties can crop up at any point of time, and mostly without prior notice.