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Debt Consolidation Home Loan – To Stitch Holes In Your Financial Management Plan
Continued credit problems can be overwhelming at times for any individual. It is always a burden to make repayments on loans each month – both financially and emotionally. Debt consolidation implies the consolidation on several loans into one single...
How To Consolidate Debt?
It is important to understand how to consolidate debt otherwise you may end up benefiting the debt consolidation company rather than yourself. Debt consolidation actually means creating more debt. Here you pay a fixed amount into a bank account that...
How to Negotiate Debt Settlements
Knowing how to negotiate debt settlements is the key to securing your financial future. Debt negotiation is the process where in you will contact your creditors and will appeal to them with an offer to pay off the amount you owe in easier...
Mortgage Debt Elimination, 7 Things You Must Know!
The prospect of mortgage debt elimination is something that many Americans are dealing with today. If you are concerned about your current debt situation, constantly trying to eliminate debt from your life, you are not alone.
In fact, over...
Want To Consolidate Credit Card Debt?
Learning how to consolidate credit card debt is one of the best things cardholders can do.
Consolidation is perfect for those who are looking to better their credit for the future. There are
many advantages for cardholders who consolidate credit...
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Learn How to Start a Debt Collection Business
It can be both worthwhile and profitable to learn How to Start a
Debt Collection Business. With growing consumer debt and
therefore a greater need now than ever for debt collectors, this
is a great time to break into the field and start on the road to
financial independence. Essentially, all a debt collector does
is help businesses collect delinquent debts through the
telephone and mail. This means low overhead and start up costs
making learning how to start a debt collection business a great
first step towards self employment and the freedom that comes
with it.
Estimated start up costs and pricing guidelines:
The
low overhead and start up costs make a debt collection business
an ideal choice for people looking to start their own business.
With a personal computer, cell phone, fax machine, and other
home office essentials such as a printer, a person has just
about all of the essential equipment for less than $1500 if they
shop around for bargains. But part of the start up costs should
include some allotment to pay online investigation companies to
help you track debtors.
While prices vary, a good rule of thumb is that learning how to
start a debt collection agency will generally net you 20-30% of
what you collect on the behalf of business clients. Of course
debt is classified and if you start out trying to collect older
debts, there is the chance that the commission can go as high as
50% or even 60%. Of course the commissions are higher because
the chances of collecting these older debts is less. All told,
pricing generally depends on the likelihood of collecting the
debt and that is generally based upon the age of the debt.
Recommended experience, skills, and training:
Without
question, it is a mistake to think about learning how to start a
debt collection agency if you do not have any debt collection
experience. The industry demands a lot of patience, empathy, and
a fairly thick skin in order to have a decent chance for
success. If you have not experienced the demands and stress
involved in debt collection, then you may at
least want to
consult with some people in the industry before thinking about a
business in this field.
Marketing tips:
As other businesses will be your
potential clients, you are going to want to create and maintain
a website that looks as professional as possible. Budget
permitting, you may want to hire a website creator and a
freelance writer to help you create the best website possible
and achieve higher search engine rankings. You will also want a
listing in the Yellow Pages and it may be a good idea to join
local networking groups to help you in spreading the word about
your company.
Financing sources:
Being a home based business in
most cases (at least in the beginning), financing options are
limited and a conventional business loan from a bank will be
difficult to obtain. However, with good credit and a well
conceived business plan, it is possible to receive a business
loan from your local bank. Grants from the local, state, and
federal governments are available and can actually be a great
source of financing. If this is not an option for you then you
may have to learn how to start a debt collection agency with
your savings or the generosity of friends and family.
Income Potential:
The income potential for the first
full year of operations can be in the high five to low six
figures. Depending on the type of debts you attempt to collect
and the fees you are able to negotiate, debt collection can
truly be a very profitable business. If you are wanting to know
more about how to start a debt collection business, a good book
to consult is "Start a Home Based Collection Agency," by Robert
Bill.
About the author:
© Copyright Randy Wilson, All Rights Reserved.
Randy has dozens of home based business articles such as Medical Billing Business. You can also sign
up for Randy's free newsletter:Profitable Home Business Newsletter.
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| Advertisements Promising Debt Relief May Be Offering Bankruptcy |
| Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. |
| www.ftc.gov |
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| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
| www.dri.org.uk |
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| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
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| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
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| Debt Relief Options - Findlaw for the Public - |
| Welcome to Debt Relief Options. This section contains information about the ... To begin, select one of the Debt Relief Options topics from the list below ... |
| bankruptcy.findlaw.com |
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| William Brewer |
| The Brewer Law Firm. William E. Brewer, Jr., Attorney at Law Board Certified Consumer Bankruptcy Specialist. 619 N. Person Street Raleigh, NC 27604 ... |
| www.debtrelief.com |
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| Debt Relief - InCharge Debt Solutions |
| There are many ways to get out of debt, for good, and it may be easier than you think. The first step is knowing your options, the second step is taking ... |
| www.incharge.org |
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| Economic Policy and Debt |
| May 2006, IMF And World Bank Support Cameroon’s Completion Point Under The Enhanced HIPC Initiative And The IMF Immediately Grants 100 Percent Debt Relief ... |
| www.worldbank.org |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
| The Initiative’s debt-burden thresholds were adjusted downward, which enabled a broader group of countries to qualify for larger volumes of debt relief. ... |
| www.worldbank.org |
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| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
| en.wikipedia.org |
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| Debt Analyzer, Debt Reduction Software, Home Page |
| Debt Elimination at its best! Potential savings of hundreds or thousands of dollars! Build debt reduction, timed elimination or consolidation schedules. |
| www.debtanalyzer.com |
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| Superior Debt Relief |
| We help you get rid of credit card debt much faster than you may believe possible with credit card debt settlement and negotiation tactics, providing debt ... |
| www.superiordebtrelief.com |
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| Debt Relief - Social and Economic Policy - Global Policy Forum |
| Aid Inflows, Debt Relief Yet to Translate into Reduced Poverty (March 20, 2006) ... Fearing that the IMF could tie debt relief to economic benchmarks, ... |
| www.globalpolicy.org |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
| Debt Relief - Global Policy Forum - Social and Economic Policy. The Debt Relief Page Has Been Moved to: ... |
| www.globalpolicy.org |
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| BBC NEWS | Business | Q&A: African debt relief |
| BBC News looks at the progress of international debt reduction efforts, and the sticking points which continue to hamper the process. |
| news.bbc.co.uk |
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| Debt Relief Australia - Start Reducing Debt Today! |
| Debt Relief offers Australians in debt assistance with finding the most appropriate debt relief solution. |
| www.debtrelief.com.au |
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| Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
| Specialising in debt agreements, mortgage refinancing and bankruptcy. Company profile, calculators, solutions, media releases, testimonials and existing ... |
| www.foxsymes.com.au |
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| Oxfam - Debt and Aid - Debt Relief for Nicaragua: breaking out of ... |
| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
| www.oxfam.org.uk |
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| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
| www.csmonitor.com |
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