How to Reduce Your Debt With The Good Financial Planning

Now that is something that anyone that has ever been in a money mess would like to grasp. What about making an inventory of all of your necessary payments, for a good start.

Next comes all secured loans if you go into arrears, you lose your assets. Include advances like these in the order of signification, and for a plan to clear the highest concern ones. You will not believe how effective this may be unless you practice it. What you would like is to aim towards debt consolidation, not add to your issues.

The point of the tale is use money to purchase things you need , not want this could save you the additional money that you are made to pay as interest costs as well as stop you from those speculative purchasing expeditions until you are fiscally free.

Earlier on, we had discussed making a budget. Now break this down into shorter a time frame that means make weekly budgets that you find reasonable to follow, keeping in mind that you are making the effort to reduce your Visa card dues. On a regular basis, revisit your budget at the close of the day. Then ask what amount of money you can spare to clear off some of your owed amounts. But fact can be different, so try and put aside a particular amount towards clearing your borrowed sums and ensure you make the payments constantly.

Continuously the loans will reduce and you can strike them off your list. As you strike every one off, allot the money towards paying back the others that are still on the list. While in the act of budgeting, you may also put aside cash towards visa cards charging a high rate of interest. Attempt to clear off your debts as quickly as you receive them instead of wait for the date on which they are due and inviting late penalties. You do not gain anything by delaying your payment.

For those with a good credit status, it is actually possible to make a balance transfer of your unpaid balance to a card that comes at a low interest rate. But here too, stick to your commitment of clearing off your debts in the time-frame provided, or you defeat the complete purpose.

You really should know about debt consolidation because this is among the best answers towards relief from the maze when your owed amounts reach a point you will need pro help. This is how it operates you entering into a credit agreement with your bank who gives you an advance for a jointly concluded period.

There are plenty of for profit and nonprofit loan management firms that will help you cope with this sort of a situation. They guide you in Visa card dues settlement and offer money saving tips.

You can start in your dues control process by listing out all of the amounts that you owe, with the sums and dates on which everyone is due. Against each one, mention the IR you are paying too. This can help you think about paths to achieve finance settlement. If you have got something valuable, perhaps you can sell and convert it to cash to look after some of your dues. It is better to first take a close look at what can be done on your own to raise the money to repay the owed amounts.

Eventually when you approach about debt consolidation company, it will have some bearing on your credit rating. Think about whether you can spare part of your income and clear off one of your dues. In this demeanor, thinking about varied ways to cut back your loans will help you out a lot. Now comes the critical part getting your owed sums reduced as much as you can with availing of the lowest monthly rates. Look round for a good finance company that will get you the most reasonable rates and a lengthy period to reimburse.

After this is done, you will arrive at a cushy monthly payment that is simple for you to make.

Among all the other ways card control is thought of as the right way to reach financial relief. With a little help from a seasoned and trustworthy debt consolidation company, you can bring down your dues with the rates while gaining the ease of making a single regular payment at the same time. Visit debt consolidation help for more information.

How Debt Settlement Works – Employing a Debt Negotiator

Prior to adopting the way of settlement, it is vital to be familiar with how debt settlement works. Knowing well about the procedure and how debt settlement works will help several individuals to make the negotiation effective and fruitful. Individuals can get ample information about how debt settlement works if they carry out a thorough search on the internet. The settlement process implies negotiations with the lender or lenders to repay certain proportion of the entire liabilities at a decided amount. Frequently, individuals choose to make use of services of the settlement firm rather making an attempt to negotiate themselves. Debt settlement firms usually use several strategies of negotiation to assist in settling down liabilities and thus can remove between 50%-60% of the original dues.

If any individual attempts for insolvency, it is evident that the lender will obtain nothing of the outstanding balance. For that reason, the lender is at an advantage if he agrees for negotiation with any settlement firm. Maximum negotiating firms work with individuals who have genuine financial troubles and sincerely require support. The debt negotiator is the person who negotiates with the lenders in this process.

The method of credit settlement normally takes the time between 1- 3 years; therefore customers can easily remain silent till the lenders make the rational choice of negotiation with them. Apart from the evident assistance of credit settlement, the other help it provides is with lender harassment. Usually the debt negotiator of the settlement firm gets in touch with the lenders and enlightens your terrible financial state to them. They introduce themselves to the lenders as your representatives. This is vital as it assists to diminish or abolish lender calls. The normal practice of these firms includes directing entire communication of the lenders to settlement firm. Though, you must be cognizant of fact that the lenders can contact individuals directly and it is legalized as well.

During the procedure of settlement, the settlement account is opened in the name of individual. The individual will deposit the monthly installments in that account. At the end of the process the accumulated money will be sent to the lenders to settle out the liabilities finally. Once the entire payment is done, the company will close the account and individuals will owe liabilities no more.

Debt settlement companies are widely available in just about every state however some are just flat out more experienced than others in debt negotiation. That’s why it’s so important for consumers to use debt relief networks. These networks qualify and only accept the best performing debt settlement companies.

Debt Settlement USA: Freedom from Debt Collectors

It’s not an unknown fact that debt settlement services, while being among the important aspects of any business, can be a lot of hassles for the service provider. One needs to ensure smooth operations, speedy processing, accuracy and a friendly service to keep the customers happy. Whether it’s about how to stop debt collectors harassing calls or it’s about achieving debt settlement in USA or elsewhere, the task of a debt settlement firm is both cumbersome and tedious at times.

Demands, such as those to stop debt collectors calls, are often outside the purview of a company. In other words, an organization may not be fully equipped to provide such services with the fullest levels of sincerity or efficiency.

If you are currently marketing debt resolution services, or are starting a new company to market debt resolution services, and are attempting to manage most aspects of the service on your own, including creditor relations and customer support, you should definitely consider the benefits of a servicing relationship with a professional debt settlement (USA based) backend service provider.

Stop debt collectors from taking away from your valuable time. Get in touch with a professional debt settlement (USA based) backend service provider today.

Beware of Debt Consolidation Scams

The concept of debt settlement has been here for a long time. Since most people in the United States go through severe financial crisis therefore they look for someone that can help them out of this financial mess. Seeing this trend, some individuals have entered in this field by opening up their own firm. They even publicize their firm with attractive tag lines to lure the attention of the innocent American citizen.

But their objective is not to help people but to take away huge sum of money from their wallet. Yes! This is true. They advertise their firm heavily to draw the attention of the people. If you take a closer look you will notice that these fraud companies are like predators that have laid traps. They are simply waiting for a victim to step on the trap so that they can prey on them.

So you must avoid such companies and go for the one that can provide you genuine debt relief solution. Now you must be wondering how one can choose the right firm since there are too many debt consolidation service companies around. This is really tricky but you must play it safely. Talk to your friend and neighbors and tell them that you are looking for the best debt management consultant who can help you get back your financial freedom that you once enjoyed before.

You can also buy some time to gain information about some of the best debt consolidation companies in the country on the World Wide Web. From there you can gain plenty of knowledge about various legal aspects of debt consolidation as well as debt settlement. Try to find out about those concerns that are ready to provide you quality debt education.

These services are normally charitable or non-profit in nature. They can provide you debt management credit counseling solution at much lesser fee.

Maintain adequate financial records to qualify for California Chapter 7 Bankruptcy Law

You must keep up your entire financial records, if you want to qualify for Chapter 7 Bankruptcy laws. This part of US bankruptcy law code deals mainly with liquidation rules and for that you must keep up all your financial records and statement. This will enable your Chapter 7 Bankruptcy Attorney to file your case in federal court.
The requirement of proper maintenance of financial records has been cited recently in 9th Circuit Court of Appeals. In that case, a debtor did not maintain adequate financial records and for that, the court did not allow him to file a bankruptcy case. Due to inadequate maintenance of financial documents and records, the bankruptcy trustee was also unable to know the debtor’s true financial condition. Simply get in touch with any of the California bankruptcy law offices and they will definitely help you in maintaining your financial records.
Proper maintenance of debtor’s financial records is one of the prerequisites that are needed to get discharge under Chapter 7 Bankruptcy Law. According to 11 U.S.C. 727(a) (3) of US bankruptcy law code, a debtor will not be able to file bankruptcy if he/she falsifies, destroys or fails to keep financial documents such as papers, books of records, etc since they play an important role in determining the real financial position of a debtor.
If you are looking forward to gain freedom from your existing debts, then you must seek help from a professional California bankruptcy law firm. Talk to them about your debts and show your true financial debt information. They are the one that can help you gain a debt free life and also to stay away from your creditors.

Credit Cards might charge you a bit less come September

Credit cards impose hefty charges and hidden fees on their customers which are revealed later which is generally not a surprise. The Credit CARD Act, which is going to be into effect from August 22 aims to reveal this by being more transparent, fair enough and charge a little less heavier fee with the main aim to reduce the burden of debt on the consumers.
But be careful as the Credit Card companies are inventing new ones to replace the old ones. Also they are merely replacing or turning the outlawed ones with some tried and true oldies. It seems there will be a way for the issuers to snatch a chance suddenly with an array of creative fees and penalties.
For example the fees charged annually is making a comeback instead of the Inactivity Fee which was sneaking into many customers bill recently in order to beat the hard times by most of the consumers where they try to cut back on credit card usage to remain debt free. Thus the inactivity fees will be forbidden from coming August 22 which appeared from nowhere when the cardholders do not use or hold back on credit card usage. Although it will soon be replaced or renamed as annual fees, which was already there for years but many credit card companies waived the annual fee for the first year or after some amount of purchases. 

The credit card company’s love towards art of semantics suggest the annual fee is a reinvention where the credit card companies used to charge the consumers for inactivity fee but in future they would do so under the name of an annual fee.

Chapter 7 Bankruptcy is the Perfect Way to Eradicate Debts

California is going through severe financial hardships. Real estate prices are going down and financial crises in bank financing and capital markets have made matters even worse. People residing in California are losing their jobs and they are now facing extreme financial difficulties. They are facing problem in paying their taxes, utility bills and above all credit card bills. If this is what your present financial scenario looks like, then “Chapter 7 Bankruptcy” is the perfect solution for you.
If you are thinking that bankruptcy is a disgrace then you must think again. You are not the only one who is going through severe financial crises. You will be surprised to know that more than 1.1 million individuals in the United States have filed bankruptcy in the year 2008 to get away from the evil jaws of debts. It is true that bankruptcy is not the ultimate solution to your debts. You can also go for debt settlement where you will be negotiating debts with your creditors. But what if your creditor/creditors are not willing to negotiate debts with you? In that case, you are left with no choice but to file for Chapter 7 Bankruptcy.
If you go ahead file Chapter 7 Bankruptcy, your creditors will no longer be able to collect their accrued sum of money from you. Neither will they be allowed to make phone calls regarding collection. To file for bankruptcy you must meet certain requirements, which is as per the United States Bankruptcy Code. You can get the information regarding this from a professional bankruptcy law office. Some of the bankruptcy law firms in California are owned and managed by well known California Bankruptcy Attorneys.
If you are looking for fast and inexpensive solution to your debts then debt settlement is for you. And if you are looking for the best way to eliminate unsecured debts such as credit card balances and personal loans then you must consider Chapter 7 Bankruptcy.

Simple steps to filing bankruptcy and how to get debt Fast Relief

If you have recently had serious financial problems, could be a good idea to consider the failure to present. If you are seriously considering filing for personal bankruptcy, you should at least know what the steps are concerned about the storage of personal bankruptcy and get help from your credit report.

The first thing you need to do is to organize all your personal financial information. It would be all your secured and unsecured claims, acts Your property tax, car license and other documents that may be relevant to your finances. For convenience, you can complete your credit report.

When you are happy to have all important financial documents with you, you have to fill for bankruptcy. The shapes are actually describe your current financial situation and recent transactions. At this point, you can hire lawyers or Phoenix Arizona bankruptcy> Bankruptcy Attorneys, be sure to answer every question on the form correctly and decide what kind of personal failure to file a Chapter 7 bankruptcy or Chapter 13 bankruptcy.

Bankruptcy Chapter 7, in which the property is left without your fault, but they are all off. On the other hand, if you file for bankruptcy for Chapter 13, you receive all your activities to keep, free and pay creditors within 3 to 5 years under the Monitoring of the bankruptcy court.

If you want the file 13 to the failure of a chapter, you have a repayment plan proposal together with the petition. You must pay a fee to the bankruptcy filing: $ 200 for a Chapter 7 bankruptcy and $ 185 for a Chapter 13 Once the personal bankruptcy petition is filed, creditors, your assets are banned all contacts with you and your needs staking. A month later, you and your Arizona> Bankruptcy lawyers and bankruptcy lawyers in Phoenix will answer questions called a meeting of creditors to negotiate with your e. A compromise should be reached, unless the bankruptcy judge can be transmitted. If an agreement is reached, you should wait a minute notice of the bankruptcy court after four, six months ago, the completion of a personal failure.

Completion of a personal bankruptcy will give you the opportunity to start with a cleanSlate. You can start to convert to your life so that you learn from this experience.

Debt Settlement Help

Debt settlement is the easiest way to get out of all debts, especially credit card debts. If you are in debt due to rising credit card bills which you are unable to pay off and you have been getting creditors’ calls at home or in office making your living horrendous, you are in great trouble. This is a social malady and it affects eighty per cent of the US people today. The easiest way to get out of this is, of course, to manage your finances well and keep your credit cards away. You would be a happier man if you could cut your coat according to the cloth you have. This reminds us of Mr Micawber in Charles Dickens’ novels. It is an everlasting truth that the life of a debtor who ultimately finds solace in death or by applying for bankruptcy. Don’t worry. There is another way called debt settlement and you can avail of this by reaching out to the numerous debt settlement companies out there to relieve you of this malady.

Wait, there is a catch here. There might be a number of debt settlement firms to bring you some relief by helping you to pay off your debts but you hardly know which debt settlement company to choose and how much reliable they are. An easy solve is to go online and look out for the debt settlement companies who are listed on Better Business Online and talk to them. Don’t go for companies who promise you the sky and also expect a lavish sum of money before they have even done your job. You might just get rid of them. When you think you have come across the right debt settlement firm, add up your number of debts and indulge them to talk to the creditors about paying low installments every month to come out of your debt.

Debt settlement ways work differently. The advisors will help you to save money in your bank even after paying your debt. They will also have a talk with the credit firms or the creditors and also help to reduce your interests by 50-60 per cent. Actually, you learn how to pay your debt installments monthly without having to stave or curtail your necessities. You also learn gradually how to adapt to a new lifestyle where you spend less and save more.

Facts about non-profit debt consolidation: What debtors must know?

When you're unable to tackle multiple bill payments and wish to get rid of them, you can enroll in a debt relief program offered by the various debt consolidation non profit companies. These companies offer you services to consolidate your debts at at a lower cost as compared to for-profit consolidation companies.

How does non-profit debt consolidation work?

A debt consolidation non profit program works in a similar way as a for-profit program. The only difference is that these programs are offered by companies that have received a non-profit status from the IRS. When you enroll in a program, a counselor of the company helps you determine your credit needs. Some of the ways a consolidation program helps you are:

• Lowers rate of interest: A representative of the company negotiates with all your creditors and helps you lower the rate of interest on your bills. The representative also negotiates to eliminate late charges and over limit fees.
• Convenient repayment plan: The company designs a repayment plan for you based on your financial needs and gets it approved from your creditors.
• Single reduced monthly payment: Instead of paying your creditors separately, you make a reduced monthly payment to the company and they timely distributes the payment among all your creditors. This way you become debt free within 4-6 years.

How can you find a reliable consolidation company?

When you enroll to obtain service of a non profit company, you must verify its accreditations. Other factors you should consider are:

• BBB ratings: You can judge a company based on the rating given to it by the Better Business Bureau (BBB). A company with a higher BBB rating will offer you good quality service.
• License details: A consolidation company is not legally permitted to offer service in all the states. So, before enrolling in a program offered by a particular company, you must check its license details from your attorney general’s office.
• Consumer complaints: You must check if customers have registered any complaint against the consolidation company with the Federal Trade Commission (FTC) in order to verify its service background.

Most importantly, you should ask the company to provide you with a proof of its IRS 501 (c) (3) status. By consolidating your debts with a reliable debt consolidation non profit company, you can not only protect yourself from getting scammed by fraudulent companies but also pay off debts within a short period of time.

Credit Card Debt Consolidation Program is The Way to Get Your Finances Back on Track

Statistics show that many people who complete a credit card debt consolidation program, end up going back into debt within a few years. even though debt consolidation can help you repay your debt, it’s up to you to remain debt-free after your debt consolidation program has ended. if you haven’t changed your spending habits, you could find yourself in need of debt consolidation again.

You’re advised against taking on new credit card debt while you’re in a credit card debt consolidation program. you should be smart about taking on new debt after you have finished a debt consolidation program. though many people who’ve gone through debt consolidation and bad credit debt consolidation services swear off debt completely, it’s unrealistic to expect that you’ll never use credit or debt again in your life. It’s a better idea to use credit wisely than to think you’ll be able to stay away from it all together.

Start an emergency fund to avoid debt caused by financial emergencies. actually, it’s a good idea to begin building an emergency fund while you’re going through your debt consolidation program. that way, you have some savings to fall back on in case of a financial emergency. Continue to maintain your emergency fund after you’ve completed the credit card debt consolidation program and avoid dipping into it unless it’s truly an emergency.

The most important thing to remember when you’re making new credit card charges and applying for loans is that you should never take on more than you can afford to repay. that means if you can only afford to pay back a $10 credit card balance at the end of the month, then you should only charge $10 on your credit card. Before you ever swipe your credit card, assess whether you’ll have enough money to pay back the balance. also don’t fall for ads offering credit card debt consolidation loans. They are a scam. there isn’t any such thing.

Always make your payments on time. After you’ve built a three- to five-year positive payment history through debt consolidation, you don’t want to mess it up with a single late payment. get in the habit of paying your credit card bills well before the due dates to ensure your payment is processed in a timely manner. On time payments will help you maintain your interest rate, reduce the cost of carrying credit, and improve your credit.

Focus on managing your money wisely. the smarter you are with your money, the less likely it is that you’ll resort to credit cards and debt to maintain your life. good money management starts with a budget. having a budget helps guide spending and allows you to recognize any gaps between your income and your expenses. seeing your expenses on paper makes it easier to evaluate your expenses and reduce them if it’s necessary.

Debt Consolidation Counseling for Bad Credit Repair

Maintaining a good credit report is very important, especially these days when practically everything requires a person to have a decent credit standing.  Whether you want to send a child to college or take out a lease on a new car, you’re going to need at least half-decent credit. Regardless of what strategies you may have on your life, having good credit is going to enable you to achieve your requirement. If you’re among several other individuals who have made many blunders monetarily and need to start repairing your credit, understanding how to repair your credit is important, you can visit a debt consolidation counseling to consider your options.

Bad Debt Consolidation Counseling: How Can It Help?

The debt counselor can assist take important steps to fix your credit.

Step One: Quit your spending habits at this time, before you get yourself in an even worse situation.

Cutup your credit cards, put up for sale one of your vehicles, whatever you need to do to scale back on the bills and obtain yourself some extra money each month. Right now you want to obtain a copy of your credit report. What you see here is what loan companies see when they’re considering you to qualify for a loan or other purpose. Beginning with your most unfavorable areas is going to be best.  These are the areas that you need to deal with first and foremost and for many people this involves credit card debt.

Step Two: If you wish to understand how to restore your credit, you ought to look for any inaccuracies that may be listed on your credit report.

These inaccuracies could just be blunders or they may be the sign of an identity thief who has been making use of your name to secure loans and then for other reasons of financial gain. More often than not inaccuracies are merely mistakes or misprints, but in some instances they are clues that somebody has taken your identity. One of the most important steps to restore credit is usually to start negotiating with the various companies that you owe. It’s easy to ignore them but this won’t get you anywhere and is just likely to make them even angrier with you. This is going to show them that you have no interest in paying the money back and they are only going to end up getting even angrier with you.

Step Three: Get a  Bad credit repair Loan

In some cases, getting a bad credit debt consolidation loan is a smart move for people looking to rebuild their credit. This offers ease because instead of paying a lot of various bills every month you’ll have only one you must concern yourself with. The interest rates on these loans are generally a bit high but generally it’s worth it to have bill collectors paid off and have things more sorted out.  Debt consolidation counseling is not really hard if work at it and these are important steps that you need to take if you want to know how to repair your credit and get it back in good standing.

What is Student Loan Consolidation and How it Works ?

With costs of entry have increased across the country, has become increasingly necessary for students to focus on debt in an effort to make their conclusion. Student loans, but it is often difficult to make students, especially when one considers that even with graduates of income is generally a bit 'lower than their earnings potential final. In these circumstances, Student loan consolidation  is a viable option for the new university, numerousTo continue his university studies.

How Student Loan Consolidation Works

Student loan consolidation works like most programs. The donor is available through various loans you have accumulated, like Stafford, Perkins, HEAL, NSL, and private loans. While conditions and reimbursement vary across the different lenders to repay a loan consolidation company, such loans and provide a singleare generally long-term loans. What this means in practice that, rather than to repay a loan in 3 years, others are set to 5, and one in 10, or the interest rate for a loan and a d 'other variables, all your loans into a single integrated system. Then you can negotiate with the loan consolidation lender, about the terms of the loan. In general, students choose a repayment plan of 10 to 30 years. Of course, the mostTerm Loan, the higher the monthly payments.

Why consolidate?

If your student loan gives you the opportunity to extend the payments to reflect the benefits of your future purchasing power. E 'useful to think of students who achieve more progress in their careers, and the extension of repayment period, which will not pay their loans, while sales at its most.Another advantage of the consolidation loan programs for students who take a lot of confusion and problems for students to repay the loan. For graduates are prepared from a variety of public and private funding, keep up with the unique conditions of each loan is often an annoyance than anything else. For these reasons, the consolidation is a popular choice. But this does not mean that it is not without itsCosts.

Why not consolidate?

Loan consolidation of a variety is so attractive because they require lenders to May, a relatively high rate of "consolidation" fees. While the student loan consolidation is better regulated forms, business loan consolidation happened again, add a po 'on a loan (you pay at the end) in the form of taxes. One way to avoid this iswho pay an opportunity to consolidate all fees in advance. This way you can guarantee that you will at least be aware of the amount of taxes that are imposed on you. Another problem with consolidation loans is that, by extending the terms of the loan (5 to 15 years) to tell you drastically increase the amount of interest payable on the loan. Your interest to accumulate on your loan over time. This means that moreHe repays the loan to earn the most interest. Many students do not succeed in this report, because it focuses only on the rate of interest, and has not paid the full amount of interest during the loan period.

Consolidate student loans is a valuable tool for students who defer their repayments until they earn more or for those who find the harassment too many of its loans, wants to be a nuisance. It isimportant for recent graduates, however, believe that these benefits, despite what the provider of lead does not come without negative offsets. This phenomenon is well known that the positives and negatives of student loan consolidation, you can use a higher education level, if not to make decisions about consolidating student loans is the right solution for you.

Tips For Choosing Credit Cards

By narrowing down the number of credit card offers that have what you want, you can reduce the stress involved in choosing a one for your personal or business needs. There are different types of credit cards available, such as business, rewards and student. By looking at your needs and knowing what you want the credit card to do for you, you can find the card that is right for you.

Business credit card offers have some of the same offers that a personal card can offer, such as rewards and a low introductory percentage rate. Some of the rewards that are available are air miles or cash rebates, yet choosing a card with this type of reward is only beneficial if it is something that will be used. Choosing a rewards card is only excellent if you will use the reward.

And having a low introductory percentage rate can be a huge plus, but you have to be careful and see what the rate will jump to after the introductory period has finished. Student ones are fantastic because they allow younger people to get a start on their credit history, but they need to be used wisely in order to prevent any misuse.

Aside from having different perks, choosing one can result in the possibility of debt consolidation. Choosing a card for this purpose can improve your credit rating because you will be able to manage credit card payments much simpler. Being able to use your credit wisely or having the ability to fix it if you have misused it in the past, can greatly improve your credit rating, and will keep debt collectors and financial services from harassing you for missed or late payments. Transferring several balances from cards that have high percentage rates to a card with a lower percentage rate will also allow you to make larger payments towards the debt, rather than just the interest on your debt.

The needs that you have, either of a personal or business nature, can greatly affect which credit card offers you choose to take. If you opt to choose a rewards card, then you need to make sure that you choose one with rewards that you will use.

If you have a lot of cards, then choosing a card with a low introductory percentage rate could be beneficial if you are looking at consolidation. If you are a young person who wants to start building a credit rating, then choosing a student card and using it wisely will be very beneficial.

Get a Business Loan without a Business Plan

The phenomenal emergence of homebased business ownership has been astounding. The Small Business Administration projects that by 2007, there will be over 2 million small business firms.

Trends indicate that entrepreneurship is quickly becoming a fabric in American cultural. Yet, while there are many opportunities for securing personal wealth through business ownership, access to capital continues to be a hurdle for most start-up companies.

Thanks to a new small business initiative, the hurdle has become a little less painful. Through the SBA CommunityExpress loan program, start-ups and existing businesses alike can apply for a "Small Office/Home Office" loan without a business plan.

Loan amounts are available for $5,000, $10,000 and even $15,000 and no business plan is required. This may not seem like much to some business owners, but the most successful companies have started out by getting micro-loans. In fact, the SBA cited that most homebased businesses required $10,000 or less to get started. Examples of companies that started with less that $25,000 include Ben & Jerry's, Fedex and Tom's of Maine toothpaste.

It doesn't matter if you want to start a daycare center, desktop publishing firm, or barbershop. These mega success stories are a constant reminder that small beginnings can indeed lead to greater rewards.

Now Debt Help Only a Cellphone Away

WORLD’S FIRST MOBILE DEBT COUNSELLING SOLUTION

In a landmark deal that is a world first for South Africa’s largest debt counselling agency DRS, the company has signed a deal with Debt Breaker to bring mobile debt counselling to indebted consumers through popular e-media like MXit and Google Talk.

With the global credit crunch putting increasing financial pressure on ordinary South Africans, consumers can now look as far as their cellphone to find answers to their debt problems.

Debt Breaker is an innovative cellphone service developed by Cape Peninsula University of Technology lecturer Marlon Parker, which can be used by over-indebted consumers to access advice and support remotely through MXit, Google Talk, Fring, Nimbuzz, Mig33 and other chat applications.

It is estimated that 60% of about 19 million consumers require assistance in South Africa.

The DRS and Debt Breaker association will offer direction, education, support and advise on debt related issues to thousands of debt stricken mobile phone users. About 7000 vehicles and 2500 homes are being auctioned on a monthly basis. Credit Bureaus are reporting that 53% of all consumers reflect impaired credit ratings, yet less than 100 000 consumers applied for Debt Review thus far.

“I saw an opportunity to reach the masses using mobile and web technologies to address the debt problem. This also allowed us the opportunity to be the world‘s first providers of live debt counselling, education, advice and support over cellphones using instant messaging ,” Parker said.

With Debt Breaker, consumers will be able to get free advice with regard to debt-related issues and practical remedies will be suggested. Debt Breaker needed a reputable Debt Counselling organisation with a strong national footprint to manage all the referrals generated through this free and confidential service.

According to Jean Botha, CEO of Debt Restructuring Services (DRS) the company is excited about partnering with Debt Breaker and to be taking their message of hope to this largely untapped market.

“With South Africa‘s largest mobile instant messengers (MXit, Mig33, The Grid, Fring) boasting combined numbers of over 15 million users of which the majority are between the ages of 18 and 35, it presented itself as an ideal medium to support the masses,” says Botha.

“We believe that the South African consumer is still largely unaware of their legal rights when it comes to dealing with debt. They don’t realise that the law has been changed to protect and assist them and that debt counselling and the debt review process holds a myriad of advantages for them. By associating with the Debt Breaker team we are encouraging open discussion on the topic and letting people know that there is a viable get-out-of-debt option available to them. We are hoping that a faceless, nameless, safe space to communicate will encourage more people to reach out for help” .