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3 STEPS YOU CAN USE DEVELOPING LEADERS IN YOUR INDUSTRY
With the economy bordering on a recession, every company is looking for ways to increase revenues while decreasing costs. Some companies believe one of the easiest ways to do this is to cut their employee training budget. However, businesses...
Boosting Your Credit Score To Get The Best Credit Card Deal
Making Your Credit Rating Work For You
One of the basics of getting the most competitive credit card deal in the market is to ensure you have the best credit record possible. Few of us are lucky enough to be earning a six-figure salary, and...
Coca-Cola - A Value Stock?
There has been much talk lately about Coca-Cola and its potential as a value stock – as it now spots a dividend yield of 2.6% (which is the highest dividend yield since the late 1980s) and a P/E or less than 21 – right at the bottom of its...
How Safe is Your Success? Part 5 of 8
"How Safe is Your Success" is a series of eight articles that address different aspects of a universal problem which is of particular importance to those who do business on-line. Most Internet users are at least aware there are dangers "out there",...
Uncovering Soul In The Workplace
The San Francisco Chronicle recently reported “soul is in”. In a headline calling it “the buzzword of the ‘90s” a front-page story reported that some 322 citations for the word appear in the current edition of Books in Print. That’s nearly four...
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Help to get out of debt
Debt Help is the stepping stone to debt elimination and financial recovery. Debt help analysis guides you to save thousands of dollars in interest charges. Consolidation of your credit card debts and other unsecured bills will allow you to get out of debt as quickly as possible, save money on interest and late fees, stop creditor harassment, save your good credit rating or begin immediately to repair bad credit or negatives on your credit report.
In a recent survey it was reported that almost 58% clients vouched for Debt Management Plan as the best way to settle their debts. Another 42% client had filed bankruptcy since dropping off a Debt Management Plan or DMP.
Debt Management plans can reduce your monthly payments, interest charges, penalties and some times even the repayment period so that you don’t need to scream Get me out of debt anymore... Even if bankruptcy seems like your only solution, it may not be the right debt help solution and may cost you for many years to come. The loss of a job, divorce, credit card spending and family medical emergencies among other life style matters can cause negative money issues. Statistics released by the administrative office of U.S. Courts show that a total of 388,864 new non-business bankruptcy filing in the United States during the quarter, ended on September 30, 2004. This included 274,196 chapter 7 filings and 114,454 chapter 13 filings.
Most economists consider a ratio of unsecured debt to annual income of 40-50% percent or more, as being a strong indicator to bankruptcy. This is taken as a ‘˜thumb rule’ in most of the cases. So in order to protect himself from such crisis one should keep his unsecured debt to annual income ratio lower than 40 to 50%. For example if someone has an annual income of $5000, he should keep his annual debt minimum $2000 to $2500 in order to avoid his bankruptcy.
36% or less: This is a healthy debt load to carry for most people.
37%-42%: Not bad, but starts to restructure your debt now before you
get into real trouble.
43%-49%: Financial difficulties are likely to occur unless you take immediate action.
50% or more: Get professional help from debt counselor to aggressively reduce debt.
You should also control from having a large amount of unpaid outstanding credit or using more than 80% of your available credit (which causes a high debt to income ratio).
It is better to have a debt free life without having a savings rather than maintaining debts along with savings. The reason is simple. As the return on short term investment i.e. savings is lower than the interest payable on accumulated debt, it is always advisable to pay the debt first rather than go for the short term investment. Because a repayment of single debt instantaneously may save a lot of money in future. In other word, One dollar payment is better than one dollar saving.
From the Consumer Debt so published by Federal Reserve Statistical Release, it is found that each and every year total consumer debt (both revolving and non-revolving) has an increasing trend. In 2000 and 2001, total consumer debt has a rising trend by 11.42% and 8.04% with respect to the year 1999.
However, in 2002 and 2003, total consumer debt increased to 4.45% and 4.52% respectively, at a decreasing rate with respect to just previous year’s total consumer debt. As there is no specific trend in total consumer debt we may conclude that in 2005 also, the total consumer debt will have an increasing trend of 4.49% which signifies that at the end of 2005 total consumer debt will reach about $2109.85 Billion.
For better insight in this topic please view:
http://www.debtconsolidationcare.com/debt-management.html
Janet Williams is a contributing
Writer to http://www.debtconsolidationcare.com/
And is currently working on a special section in the site called do it yourself where you can eliminate your debts and become debt free...
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Finance - Leases-Leasing Ezine Articles |
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By David Springer | On January 29, 2006 | In Leases-Leasing | Rated. Short on cash, but need equipment? Consider leasing what you need. ... |
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The-Arts-Magazine.com - Leases-Leasing |
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OmegaMotors.com - Your Money - Leases - Leasing Overview |
Blue Book retail & trade-in value reports on used vehicles. Kelley features prices on used cars, trucks, street and dirt bikes, ATVs, scooters, ... |
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Entertainment Guide - Leases-Leasing |
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vehicle leases leasing guide and facts. Under the federal Consumer Leasing Act, you, the consumer, have a right to information about the costs and terms of ... |
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