The Benefits and Drawbacks of Debt Consolidation

by adminJune 22, 2019December 20, 2023

So you’ve got a mountain of debt and you’re looking for a way out. Sweeping it all up into a debt consolidation loan seems like the most painless way to solve the problem,but before you sign on the dotted line,you need to know whether going through with debt consolidation is going to really help you or not.

The Benefits of Debt Consolidation

1) Instead of writing checks for all your separate bills every month (and remembering to write the bills),you have one bill to pay. If you have trouble remembering due dates and getting all your bills paid on time,debt consolidation can make your life a lot simpler.

Remember,every late payment can cost up to $40 or more,and late payments also do significant damage to your credit rating. Enough damage to your credit rating,and you’ll find your interest rates soaring.

2) If your credit is still good,you can probably get a lower rate on a debt consolidation loan than what you’re currently paying (especially if you have a lot of credit card debt). With the lower interest rate,more of your hard-earned money will go to paying down principle,so you’ll be out of debt sooner.

Don't Let Your Debt Consume You

The Drawbacks of Debt Consolidation

1) A debt consolidation loan won’t change your spending habits.Debt consolidation can fix the symptom: too much debt,but it can’t fix the underlying cause: You spend more than you earn. Unless you do debt consolidation along with a major change in how you spend (and,hopefully,earn) money,you will continue to rack up more debt.

2) If you do continue to rack up more debt,you will end up in more trouble than before you consolidated your debts.This second drawback to debt consolidation is a bit odd,but it happens to thousands of people: Debt consolidation can seem to make the debt problem disappear,but as soon as it’s “gone” they create a new debt disaster.

The recently-unburdened are suddenly paying less and are finally current on their bills. After all the debt-ridden days are over,it’s hard not to celebrate… by spending more money. So debt consolidation’s benefits can turn into major problems because they take the pressure off. For some of us,it’s the pressure of our existing debts that keeps our spending in line. Remove that pressure,and we go right back to overspending.

3) Getting a bad debt consolidation loan.Here is a short list of things to avoid in any debt consolidation loan.

– Variable rate. This means the interest rate can change any time. Which means that you could end up paying more than you do now.
– Two-cycle average daily balance. A credit card term that is not your friend.
– 20-day billing cycle (versus the standard 30-day billing cycle). Another credit card term that is not your friend.
– Finance company loans. Wolves in sheeps’ clothing.
– Any lender that offers you a large (over $5000) loan without a significant credit check,on the condition that you make a hefty fee up front.

Reduce Your Debt by 50%

4) Falling for a debt consolidation scam.These aren’t just “bad” loans – they’re full-fledged fraud. The tricks include:

– Pretending to be a non-profit debt counseling service. If the lender won’t send you a copy of their IRS approval of non-profit status letter,move on.
– Saying they will negotiate a debt consolidation loan for you,so you can use the money to pay off your debts. They tell you to start sending them money every month. You send it. They don’t pay your creditors. You get deeper (MUCH deeper) in debt.
– Contacting you by mail or email,offering you the best deal you’ve ever heard of. If it sounds too good to be true,it is. Respectable finance firms do not send unsolicited email,or even direct mail. They get word of mouth referrals.

5) Getting a fair debt consolidation loan,but not changing your spending/saving/earning habits.This is the double-whammy of con #2. For example,say you take out 80% of the equity in your home to pay off your scorchingly high-interest credit cards. But then,instead of rigorously keeping to the budget you made up,you continue to buy things and you give in to all the new low interest credit card offers that come in the mail. You swear to yourself that the big raise will come any day and your income will double.

Instead,you get fired. Within two months (remember,you never saved any money) you can just barely pay your mortgage,much less your home equity loan,much less your new credit card bills. After a few late payments,the new credit card interest rates vault up to 30% or more,and you stop paying them altogether,along with the home equity loan. The bank can now take your house.

Compared to this scenario,it would have been better to have stayed under the old “mountain” of debt (which now,comparatively,looks like a small hill) and learned the slow,hard lessons of frugal living and finding happiness in life in ways that don’t require spending.

Reduce Your Debt by 50%

Tips For A Successful Office Fit Out

by adminJune 19, 2019June 19, 2019

If you’re planning an office fit out,you’ll want to ensure that everything goes to plan. An office refurbishment can transform your office,but getting through the process can be hard. If you follow the simple tips below,you’ll be able to avoid issues and get the results that you want.

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Think About The Needs Of Your Workplace

It is best to seek out sources of inspiration if you’re trying to work out what you want your new office to look like. At the same time,you must consider the unique needs of your workplace. You also need to answer questions like,How much space do you have to use?,and Do clients visit your office?

No office is the same,and you’ll be far happier with the results of your office fit out if you take your needs into account. If you don’t consider your own needs,you may wind up in an office that is not nice to work in.

Keep To A Set Budget

You’ll have to think carefully about what you’re happy spending on an office fit out. This means that you will also have to carefully check your finances and set a strict budget for the job. You’ll want to be extremely cautious about how you spend your money,as it is very easy to go over your budget if you’re not careful.

If you set a budget that’s reasonable,you should be able to keep within that budget while completely fitting out your office. Be careful with your money and look for ways to save where you can. For example,you should compare prices when purchasing furniture so that you can get a better deal.

Do Plan Ahead

You don’t want to rush through this process,even if you’re excited to complete your refurbishment. You should start by planning things out carefully. Being prepared is the best way for you to stop future mistakes.

In addition to looking at your budget,you’ll need to think about how your firm will be impacted while the fit outprocess is going on. Once you have considered the implications,you should work out if any changes to the plan have to be considered. Think carefully about every aspect of the refurbishment so that nothing will catch you out.

Employ A Refurbishment Specialist

Instead of trying to handle the refurbishment on your own,you may want to outsource this project to professionals. A refurbishment specialist will be able to help you stick to your budget while still getting everything that you want. Because such specialists have extensive experience,they’ll know the best way to handle your refurbishment.

Many firms think that using a specialist is expensive. Actually,working with professionals could end up saving you money in end. Find an expert that will be able to help you and work closely with them so that your refurbishment job can be completed in the fastest time..

Do use this guide as it will help ensure a successful office refurbishment. You deserve to be thrilled with the results of your office refurbishment. Plan for everything you can as this will make sure that your new office lives up to your expectations.

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The Benefits Of Using Key Holding Services

by adminJune 16, 2019June 16, 2019

Key holding services can give you many benefits to your business that you might want to take advantage of. These benefits are important to consider if you are considering using key holding services. When you know what the benefits are,you will be able to make a better decision about the use of the service.

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The Convenience of using keyholding services

One of the most important benefits of key holding services is the convenience they provide. When your intruder alarm goes off,most of the time it will be a false alarm. While this is a good thing because it means you are not being burgled,it can be very annoying for the person who has to go and check your business premises.

With each false alarm,the key holder will have to visit the site to let the security company in. They will also have to wait at the premises for at least an hour. When you use a key holding service,they will need to attend to the site and your staff can rest easy.

Better Reaction Time

The staff member that you choose as the keyholder for your business could live far away from the office. This is especially true if your property is in the centre of a town. In such instances,the time taken for the keyholder to get to the site can cause problems.

When you use a key holding service,they will generally provide a faster reaction time. This faster reaction time can reduce the damage to your business. Of course,you will need to see if the service provider you choose will send people from to ensure that you get this benefit.

The Safety Issue

Another benefit of using a key holding service is the safety it provides. When you have a member of staff acting as the key holder,they can be in danger visiting the site after the alarm goes off. Staff safety is something that you need to think about at all times.

The person sent by the key holding service will generally be trained to handle any dangerous situations. This is training that your employee will not normally have and it can be the difference between being safe and not. However there may also be other issues at the site that your staff member is not able to sort out.

Availability of Spare Keys

When you use a key holding service,you know that there is always a spare set of keys you can get hold of. This is very helpful if the keys are damaged or go missing. Regardless of what occurs,you will always be able to gain access to the business because of the keys the service provider holds.

There are many benefits that key holding services can offer your business. Not only will they provide a faster response time,but they are also trained to handle any situation,which improves the safety of the response. Having a company hold your keys will also be more convenient for you and your staff. Of course,to ensure that you get these benefits,you need to choose the best key holding service provider.

Appointing a Commercial Debt Collection Agency to Recover Monies

by adminJune 16, 2019June 16, 2019

delinquent} clients and make great use of technology to track down persons from whom debts have to be recovered,so that they can exert pressure on them to honour their commitments.

While these agencies will always use low key approaches to debt collection,like letters and other notifications,they will also at times directly approach the debtor. Many of these agencies will work on a commission basis,where they agree to take their fees as a percentage of the amounts due. In such instances they only get paid when the money is actually recovered.

New Aurora Health Care Center Coming To Sheboygan Near Furnished Rentals

by adminJune 6, 2019June 6, 2019

Earlier this month in Sheboygan County,Wisconsin,an area of the state not too far from Milwaukee and other major cities in the state,local approvals were made for a brand new Aurora Health Care Complex that will cost more than $300 million and will bring a whole new level of health care to the county.

Aurora,a major health care company with outposts all over the country,first announced this project back in 2017. But it wasn’t until May of 2019 that the final approvals were made. The company plans on getting construction underway by the end of summer 2019,a time that is fast approaching.

Aurora,which is based in Milwaukee and has employees living in many business apartments, says the 345,000-square-foot hospital and 115,000-square-foot office building are going to hopefully be completed by the end of 2021,a little more than two years after construction is set to begin.

“Now is the time for a new facility to create greater access to care for our growing communities we serve,” Carrie Killoran said in a press release. “The new Aurora Medical Center Sheboygan County will be a state-of-the-art medical facility that will be focused on delivering high-quality health care services close to home.” Carrie Killoran is the executive vice president with Advocate Aurora Health. She also noted that the complex will aim to adapt to the ever-changing needs of the community,a community they are proud to serve.

According to an Aurora Health Care spokesman who is authorized to speak on the matter,Aurora Health Care will lease the property from the Kohler Co.

She also revealed that Mortenson is the general contractor on the project. Advocate Aurora Health plans to pay for the Kohler project with existing funds and/or cash generated by operations,she continued.