21
Jun

Redefining Reimbursements The Paperless Approach

f19As you read this, an employee in some part of the world is struggling to find his bill in order to file his reimbursements and his manager is having a miserable time going through a stack of receipts that are not making it any better for her. Have you been there as well? Then it is time to digitize the process and make it a lot easier.

Over the past few years there have been a lot of buzz about going paperless in offices, home and on-field workplaces. A bunch of reasons might have reached your ears about going paperless; like saving the environment, saving money for your company, hassle free procedures et al. However, another important approach, which remains unnoticed,is increased productivity. Remember the time, you used to keep all your receipts in a shoebox? They were stacked up at one place, but were they organized? They were not in any planned order and finding a specific one at the drop of a hat was a myth. It is time to change that.

Information as we know continues to grow at an astonishing

12
Jun

What The Face of Professional Wrestling Can Teach Us About Getting Out of Debt

f18As I was getting ready for work one morning I watched the Today Show. John Cena, who is a professional wrestler, as well as an actor and rapper, was guest hosting. I am not a follower of professional wrestling but I have seen Mr. Cena in a few movies and if I could describe him in one word, the word would be “chiseled”.

Natalie Morales, one of the regular hosts on Today, mentioned how in shape he appeared and asked him how many hours per day he spent working out. I wish I had recorded his answer because it surprised me. I am paraphrasing Mr. Cena’s response here:

“Watch what you put into your mouth, and do a little bit more physically every day. You will be amazed at how your body will respond. Keep this simple!”

I lost thirty pounds last year by doing this (I counted carbs and calories on my iPhone and walked more). But as I listened to him, it made me think about my last journey with getting out of debt.

In 2010 we had $20,200 in consumer debt, plus our

1
Jun

Why You Should Use a Debt Coach to Get Out Of Debt

f17Have you tried to lose weight before? What methods did you try? Most people “go on a diet”. They count their calories and limit their sugar and fat intake. Some people swear by eating all fats and no carbohydrates, others go heavy on protein. There are as many diets out there as there are people on them! And 95% fail to keep the weight off according to major studies.

Others hit the gym to lift weights and get some cardio work in. A New Year’s resolution to get in shape and lose weight. Yet by now, most everyone who made that resolution has stopped. Lines at exercise machines are three deep on January 10th and the machines are empty on February 10th!

A study was funded by the National Institutes of Health in 2012 which compared the weight loss results of people who used a health coach versus people who did not. The people who worked with a health coach lost more weight than those who did not work with a coach.

What do you think? Have you found it to be easier to get

29
May

What to Look For With a Debt Collection Agency

f16As a business, you will have or already have unpaid invoices, whether they were for a service or a product. Recovering amounts owed can be a long and bumpy road for your business, unless you hire a collection agency to handle everything for you, including keeping you legal. So what should you look for in a collection agency? Here are some details.

Avoid Headaches and Wasted Valuable Time

Hiring a debt collection agency is perhaps the best decision you can make when it comes to collecting on old debts. You have other important business tasks to handle and doing the collecting yourself can consume a lot of your important time, as well as take away your focus from more other business-related things. In fact, it could become a royal headache as you find yourself rummaging around to find documents and checking legal laws, and even getting organized.

One Size Fits All Does Not Apply

Every debt collection agency is different and some may have the offered services you need while others may not be tailored to your situation. Some may send out collection letters and make

21
May

Type of Debts That Collection Agencies in Can Help With

f15As a business, debt is incurred by customers and clients, no matter what type of business it is. Every company will have uncollected debts and there is no way around that. It’s like knowing that every steel car will rust. It goes with the territory. Collection agencies help businesses like yours get some of that money back and this article discusses some on the types of debts you can collect on.

Credit and Personal Loans
For those of you that loan money to customers for personal loans or issue a line of credit for purchases; debt collectors can help attempt to get some of that incurred debt back to you, while staying within the local rules, terms, and laws. This type of debt can include any amount of debt, whether it is $100 or $10,000.

Mortgages
If your line of business involves loaning funds to customers for purchasing homes or other real estate in the form of a mortgage, then collection agencies can help attempt to retrieve past due amounts. In some situations, a repayment plan may be established while other times it can

12
May

Tips For Hiring A Debt Collector

It is good to look for alternative ways to collect debt from your customers. However, if all other avenues have failed, you may have to use debt collectors to get your cash. Every agency is different from the other and not every one that is right for your kind of business. Here are a few things to consider.

Some debt collectors specialize in dealing with large businesses while others deal with small businesses and households. Check in your locality for the collectors that target similar clients like the one that has defaulted. The method the agencies apply has a high likelihood of succeeding in your case.

Every state has its own regulations that cover how debt collection is done and how the agencies work. It is important to ensure that you select a firm that adheres to Fair Debt Collection Practices Act. Moreover, the firm should be bonded and licensed to work in the locality.

Sometimes the firms use very uncouth means to collect the debts. This may raise legal cases if the debtor feels that the agency has acted in bad faith. The insurance ensures that you are not held liable for hiring the agency to collect the debts. Ensure you pick

1
May

Your Five Ways To Stay Credit Card Debt Free

f13Ways to Get Out of the Credit Card Quicksand

With the modern economic climate, there are a lot of women and men all over the world who are battling with consumer debt. It’s simple to end up getting stressed out because of financial debt, with bank plastic being the major element of personal debt. Bank plastic is usually appealing to many people for the reason that they virtually look at them as completely free dollars, until eventually they receive the billing statement.

If you ever currently have been dealing with financial debt, you are likely dreaming about the day when you can at last be devoid of your credit burdens. While many individuals stay ensnared in credit debt for years and maybe even dozens of years, there are uncomplicated methods that can help get you out of financial debt more quickly than you may think. Here I will discuss 5 various straightforward methods to get to be debt free.

1) Stay away from racking up any additional credit card debt. This might sound self-explanatory, nonetheless lots of people who are presently in personal financial difficulties

12
Apr

You’ll Never Get Out Of Debt Until Your Heart Knowledge Supports Your Head Knowledge

f10When I designed my coaching website, I needed to create a tag line. A type of a one line description of what the site was all about. I wanted it to summarize how I felt about the process of getting out of debt and why so many people start at it but quickly give up.

Science was my first love as a career. I spent my first ten years of work life in the biotechnology world. So the idea of a math equation flashed into my mind.

There are thousands of websites and probably millions of blog posts and articles about how to get out of debt. “Seven methods to lower your credit card debt”. “Five tips to reduce your holiday spending”. Tons and tons of information out there.

So why do less than half of Americans pay off our credit card balances every month? Why do 35% of us have accounts in collections?

I reflected on my two journeys through debt. The first ended in credit counseling and bankruptcy. The second ended with everything paid off, including our home mortgage. What was the difference?

I “knew”

3
Apr

What It Means When a Credit Card Is Charged Off

f9You are late on a credit card. Months late. The bank which issued you the credit card is calling you every couple of days and sending you notice after notice in the mail to get you to send in a payment. But you can’t. Maybe you got laid off or lost your job. Or you have lots of other bills and you cannot afford to pay this bill.

After six months of no payments, the credit card issuer has to “clean up its books”. So it performs an accounting function and “charges off” your debt. The assumption is that, after six months of no payments, you are probably not going to pay this debt. So this loan needs to be removed from the bank’s assets. This is a charge off.

Charge off definitely does not mean that your debt has been wiped out, forgiven and no longer exists. To the contrary, it means your financial life is about to get worse.

Once the credit card issuer charges off your debt, it most likely will be transferred to a collection agency. It does not matter if

29
Mar

You Can Spend Your Way Out of Debt

f8This headline has got to be a typo. How can you spend your way out of a money problem? Am I in charge of a federal government program?

When you find yourself in a hole, the first step to get out of the hole is to stop digging. So how can you spend your way out of debt? I will explain how.

Google “how do I get out of debt” and scroll down past the paid ads. Just about every result from your search will give you some iteration of the following advice items:

  • Get your bills organized so you can see what you are working with
  • Create a spreadsheet of your income and expenses (either on paper or using a computer program/app)
  • Add up your expenses and add up your income. Do you have more expenses than income?
  • Get another job.
  • Eliminate every expense that you can. You can keep electricity, housing and food but not much more.
  • Live this lifestyle until every debt is paid off.

Alright I am getting a little facetious here. But I do not believe that I am exaggerating much. The idea touted is to

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12
Mar

Climb Your Debt Mountain One Step at a Time

f6Charlie Linville lives here in Boise. He is a US Marine Corps veteran who lost his right leg in 2012 when he stepped on an IED in Afghanistan. He returned home last night after becoming the first combat amputee to climb to the top of Mount Everest.

This was his THIRD attempt to scale the mountain. An avalanche shut down his attempt in 2014. An earthquake shut the mountain down in 2015.

He succeeded this time, but still had to fight the battler against freezing temperatures and 60 mph winds.

Mr. Linville did not just wake up one morning, catch a plane to Nepal, throw a backpack on and start hiking. His successful ascent in 2016 took him away from his family for FOUR MONTHS. So on top of all the training he did here in the USA before leaving, he had to plan, adapt, change plans, etc to complete his dream. It was not a one day shot!

When we look at a mountain of debt in front of us, it can appear to be as tall as Mount Everest. Most people believe they have

1
Mar

How Free Samples of Jams Can Get You Out of Debt

f5Have you ever been to a grocery store or farmer’s stand where free samples of food are available? It is great to work your way from one end of the samples to the other. But afterwards, did you buy any of those products?

My wife and I just returned from a trip to the Idaho panhandle. One our stops was a fruit and vegetable stand where lots of free samples of homemade jams were available. As I was looking at the samples, I remembered an old study I had read about offering so many free samples that people did not buy anything. While we drove back home I mulled over how this relates to people wanting to get out of debt but never truly starting their plans.

“The jam study” was done in 1995 by Sheena Iyengar, a professor of business at Columbia University. She set up a booth at a gourmet market and sold jams with free samples offered. She alternated every couple of hours between offering samples of six jams and 24 jams. She noted the number of samples each customer tried

21
Feb

Pay For Delete Does It Really Work

f3When you read the forums on personal finance, debt and credit help, lots of people advise you should demand the collection agency remove your account from your credit report as part of the negotiation. This is called “Pay For Delete”.

In theory this sounds great. Pay less than what you owe and have all traces of this debt removed from your credit report. There are even dozens of sample letters available online to help you work the magic and make the collections account disappear. But how often does it really occur?

It occurs much less frequently than those forum posters make it sound like! According to Allie Johnson at CreditCards.com, only about 10% of collection agencies will agree to a Pay For Delete. So for every successful story of a Pay For Delete there are nine other stories of rejection.

Why such a small percentage of success? Let’s look at this from the standpoint of the credit bureaus and the collection agencies. The collection agencies are paid members of the three credit bureaus (Equifax, Experian and TransUnion). All members of the credit bureaus promise contractually

12
Feb

Get Out of Debt Using a Laser

f2Have you ever tried to focus on accomplishing five different tasks at the same time? Or three? How did you end up performing them? Were you satisfied with the outcomes?

I am a linear kind of guy. When I try to do two things at once, both suffer. They take longer to accomplish than if I worked one from start to finish and then tackled the second project. If you have ever heard the phrase “the sum of the whole is greater than the sum of the parts”, this describes my multitasking skill!

Paying off debts can be the same. The commercial I hear on the radio about “put an extra $10 towards each of your loans” sounds good. After all you are paying back some extra principal. But when you do this with a car loan, two credit cards and a store loan, you do not see any progress.

I always recommend to my clients that they pick ONE debt to throw their weight against. Pay the minimums on everything else and put the extra principal towards that one account. Highest interest rate, lowest

2
Feb

Ways You Can Increase Your Savings and Avoid Getting Into Debts

f1INCREASE YOUR SOURCES OF INCOME: This scheme is as old as the time of the development of commercial. Making more money is not easy, but when you widen your business outlets, there is bound to be a rise in incomes. There is no compulsion in any particular type of business you engage.

However, you must seek some understanding of the endeavor before dabbling in. Liken the scenario to the difference in the volume of water received when a single tap is opened to that when about four or five are opened simultaneously. More incomes translate to higher spending capability and less or no indebtedness. Surplus incomes enhance savings.

REDUCE WASTEFULNESS: There is no other habit as bad as wastefulness. Over spending and extravagance are other habits tantamount to it. Experts say that debt occurs, often, as a result of being wasteful. You should use just enough and desist from being extravagant. Save the rest for future usage. There is wisdom in that.

To reduce or avoid debts, do not over spend. Do not go to buy what you do not need, at least, for the