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Dig Yourself Out Of Debt

Brayden Atherton — Tue, 15 May 2012 09:05:19 +0000

When you are buried in debt, it may seem like there is no way out. However, that’s far from the case. There are many ways you can dig yourself out of debt.

The first thing to do is to assess your budget situation. How much do you earn and how much do you spend? Look for ways to spend less and cut items from your budget that aren’t necessary. For example, you might be spending too much on cable TV, internet service, food or insurance. If you can cut these costs, you have more money to put toward your debt.

If you have a lot of debt, make sure you are dedicating every extra dollar you have toward paying it off. If you get a bonus or a raise at work, dedicate most, if not all, of that money toward paying off debt.

You also want to make sure you aren’t paying more toward your debt than you should be. Make

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Factoring Advance and Cost of Funds

Lucinda Knipe — Sat, 12 May 2012 12:12:12 +0000

Companies that look for factoring tend to be pretty cost sensitive. Because of this, they will negotiate very hard in order to try and get the best possible factoring rates. The problem is that most do not negotiate the factoring advance as aggressively and this is where they miss an opportunity. They focus on the “total cost” of factoring and neglect to take into account the “cost per dollar” of factoring.

A low rate and a high advance produces the lowest cost per dollar of factoring When you negotiate your factoring proposals, be sure to negotiate both. It is possible to have two equal transactions in every way but the advance is different. They will both have the same total cost but will have a different cost per dollar. Keep this in mind.

Disclaimer: This article is intended as informational only. Full Post…

How Student Loan Delinquency Affects Your Credit

Abigail Shipp — Fri, 11 May 2012 14:29:32 +0000

Student loans are in the spotlight now more than ever. A new report shows that the outstanding student loan debt balance for U.S. consumers is approximately $870 billion, surpassing the nation’s total credit card debt and auto loan debt .

Of the 37 million student loan borrowers owing on average $23,300 each, 27 percent of them had past due balances in the third quarter of 2011. And that delinquent number could get worse if the College Cost Reduction and Access Act of 2007 isn’t extended. This law originally reduced the interest rates on subsidized Stafford loans from 2007’s 6.8 percent rate to today’s current 3.4 percent, and is set to expire in July 1, 2012. Student

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The evolving market of debt consolidation

Brayden Atherton — Fri, 04 May 2012 04:52:50 +0000

Debt consolidation has always been a very popular way of paying back debt in a more cost effective and simpler way.

For many years Debt Consolidation entailed taking out a loan to pay off existing debts and re taking control of your finances. Since the recession started in 2008 the ability for people to obtain large amounts of credit for debt consolidation has reduced and has left many people facing a nightmare of over commitment and being unable to live a life they were previously accustomed too.

In consolidating debts you are combining all of you existing debts and monthly commitments into one more affordable and easier to manage monthly payment. The main reason that people choose to consolidate debts is to rid themselves of numerous interest rates spread across loans, credit cards and store cards.

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Don’t Move to Florida Just Yet–Tennessee May Repeal Its Inheritance Tax

Lucinda Knipe — Thu, 03 May 2012 22:24:57 +0000

Over the last several years, several of our clients have changed their residences to Florida to avoid certain Tennessee taxes, including our inheritance taxes. Migration to avoid state inheritance taxes has also been occurring in other states.

Last week, the Wall Street Journal published an article about various states, including Tennessee, that are considering a repeal of their death taxes. The article states that “the main obstacle to reform in Nashville is GOP Governor Bill Haslam…”

Governor Haslam responded to the Wall Street Journal by writing a letter to the editor. In his letter, the governor points out that he has recommended repealing the taxes in the next three years and that he has worked with House Finance Committee Chairman Charles Sargent to completely repeal the taxes in four years. Indeed, the House Finance Subcommittee has recommended an amendment to House Bill No. 3760 that

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