The many advantages of a credit card debt relief

Credit card debt resolution is being increasingly used by consumers who are in deep financial trouble with their credit card companies. This normally happens when people forget that they are spending real money even when they are using credit cards because the deficit caused by the expenditure does not show up immediately on the account. This leads to negligence in payments which further leads into debt due to the high interest rates.

Credit card debt relief can be done with the help of professional companies like Financial Rescue LLC who have the expertise and the knowledge to handle such situations well and can help clients reach out for a good credit card resolution. Most credit card companies are willing to negotiate to the default amount so that they do not lose out on all their money.
Professional debt services companies like Financial Rescue LLC give the required assistance to anyone who is experiencing financial hardship. Most credit card companies will not negotiate if the account is current. Negotiations have an average settlement range of 40% to 65% of the debt. A debt resolution program will begin to combine all bills into one monthly program payment and all funds will be contributed into a FDIC insured trust bank account to set aside for negotiations.

A credit card score involves the total amount of the individual’s debt and the punctuality of payments to the credit card company. Sometimes the score is lowered by the payments not being made on time but essentially, the overall debt will reflect a zero balance. Once a settlement has been completed, the debtor will receive a certificate stating the account has been paid in full.

A major pointing favor of credit card debt resolution is that it helps prevent card holders from bankruptcy. Bankruptcy has a terrible impact on the individual’s credit card score from which it is difficult to recover. Credit card debt resolution, on the other hand, does have a negative impact on the person’s credit report standing but in a reasonable time it is possible to recover from a poor credit score again.

In a lighter side, credit card relief companies help keep nuisance calls from third party collection companies and minimize the contact cardholders have with them. Although debt resolution companies cannot control the behavior of the creditors or collection companies, Financial Rescue and/or its partners will educate you on how to minimize the calls and/or harassment from creditors and/or collections companies so that the debtors can enjoy peace of mind confident in the knowledge that negotiations is being done on their behalf to reduce their overall unsecured debts.

The risk involved with credit card resolution program is that it increases the possibilities of being sued by the creditor as no one can really predict what will prompt the credit card company to sue. Financial Rescue LLC has partnered with a national debt resolution law firm and client’s accounts will be handled by attorneys, paralegals and legal assistants, with full legal representation in case a lawsuit is filed.

The danger also increases with the wrong choice of a debt resolution company. Along with good companies, there are many fraudulent companies only too eager to cheat or scam you. Doing your homework and working with a reputable company like Financial Rescue LLC will prevent you from getting further entangled in debts and will help you reorganize your finances better.

Why Fuel Cards Beat Out Standard Credit Cards

It is hard to believe, but, even in these modern times, there are still companies that are using cash instead of credit in order to fuel their fleets. Despite the high propensity for human error and other problems inherent in paying for fuel costs with nothing more than cash, there are still some companies that positively cling to this outdated method.

And, while using a basic credit card is definitely a step up from still relying on cash for fuel purchases, the true best choice out of all of these options is a fuel card, that is to say a card specifically designed for fleet fueling purposes.

These cards come with so many advantages over standard credit cards…and especially over cash…that they really are a must-have item for modern day fleets.

Flexible Billing Terms

To begin with, most standard credit card companies don’t really care what you’re using your card for, which means they aren’t going to be making any adjustments in terms of billing based specifically on and for your unique purposes.

The opposite, however, is true with fuel cards. They are created and maintained by people in the industry who understand the needs, demands, and high costs involved in fueling a fleet. Thus, they tend to offer specialized plans and very flexible, customizable billing and repayment options for fleet companies.

Why would you ever choose a basic credit card that doesn’t understand or work with you and your specific needs over one that is designed to do just that? The choice is clear.

Special Features

As mentioned, fuel cards are designed with fleets in mind, which means that they come with many excellent, highly specialized features created with the purpose of making your life and your work easier.

One such feature, for example, that most modern cards come with is a handy app that can easily locate local, in-network fueling stops for drivers.

This feature enables drivers to find in-network fueling stations nearby so that they can fuel up while enjoying any discounts, rebates, or other methods of saving money that are offered for using an in network station. FleetCor’s line of cards, which include FuelMan cards, FleetCardsUSA cards, the EuroShell Card Kompakt, and the Fuel Card Company cards, are particularly awesome when it comes to discounts and rebates. Its European cards, for example, allow users to receive a rebate for the country’s value added tax.

Other features, such as the aforementioned rebates and per-liter discounts, and more are also part of the “special features” package that comes with most fuel card accounts.

Safety and Security

While most credit cards are somewhat protected and secure, requiring a pin for most purchases, fuel cards are especially secure. Plus, special, customizable security measures can also be added on to these cards to make them even more secure.

For example, it’s possible to make it so that the fuel cards can only be used for fuel and that fuel can only be provided when a secure code is supplied. Restrictions can even be imposed as to how frequently the card can be used and the amount that can be spent per transaction or even over the lifetime of the card.

These features not only keep you and your fleet safe, but they also ensure that you are always in control of all matters related to your business and your fleet.

Reporting Down to the Last Detail

With a basic credit card, you’ll receive an invoice about what was spent, when, and where, but that pales in comparison to the details you’ll receive on each and every transaction enacted with a fuel card.

Typically, you’ll get a detailed report on all account activity, as well as summary reports, vehicle reports, employee exception reports, and IFTA standard reports, all designed to make conducting research, filing taxes, and other matters relevant to the fleet industry easier and more streamlined.

Obviously, there are a lot of benefits to choosing a fuel card over a basic credit card, so why wouldn’t you go for the option that’s more beneficial and that’s specially designed for your situation?

Credit Dispute Letter

A sample dispute letter is your method of challenging the accuracy or validity of a bad credit mark on your report. In your letter you need to include the reason for your dispute and the mark that you are disputing.

Common reasons for a dispute are; account is not mine, account paid in full, item is out of date and more. When the credit bureaus receive your dispute and deem it valid they will investigate the dispute.

During this investigation the collection agency or lender is contacted and the account is verified and the dates and amounts. If the account can not be verified then it will be removed from your credit report.

Typically investigations will result in the removal of a bad credit item. This happens because many businesses are just unwilling to spend the resources to verify disputed accounts.

Allegedly bureaus do not check public records during investigations. This means that negative marks that are recorded in public records are often removed.

Another option is to hire a service to perform your disputes for you. This can help tremendously especially if you are disputing multiple items.

Frequently sample dispute letter will result in the credit bureaus requesting more information from you. In addition you must dispute a bad credit item with each credit bureau separately.

Thus organizing all your disputes with each credit bureau can be a task itself. Many services can use advanced dispute techniques in case a bad credit item is verified. The techniques include; escalated dispute information requests, debt validation, and creditor direct intervention.

Many services will employ attorneys this will enable you to go to court if it is necessary. In addition you may be a victim of illegal debt collection practices and may be able to file a lawsuit against a collection agency.

Credit repair is your responsibility. Unfortunately it is very common for inaccurate information to be reported on your credit report. It is estimated that 1 in every 4 Americans have inaccurate items on their report.

In sum if you have unverifiable or inaccurate information on your credit report you should use a dispute letter to challenge it. You can remove bad credit without waiting 7 years.

Improve Bank Debt Collection Success Using These Strategies

Bank debt recovery is growing, mostly because of a poor economy affecting both consumers and markets around the world. Banks and credit unions are adding new techniques and strategies to improve bank debt collection.

Banks are witnessing continually growing loan and credit card defaults, as well as checking account charge offs, due to years of steady rising consumer debt, as consumers face trying to just pay for the necessities. Because of this, banking and credit unions are incorporating new strategies to help improve debt recovery success.

Below are a few recommended bank debt recovery tips, which will definitely help increase your debt collection success.

· Offer flexible plans for customers experiencing financial hardship.

. Design “hardship” programs for borrowers that are late on their loan payments.

. Extend or lower payments, interest rates, or lower fees when you anticipate customer payment problems.

· Create communications channels where customers can openly discuss their issues. By proactively reaching customers early, you can prevent larger problems later.

In addition to your present internal debt collection processes, these suggestions are designed to “flag” wouldbe problems much sooner, and prevent them from becoming much larger problems later on.

When To Outsource Bank Debt Recovery to Collection Agencies

It is absolutely imperative for banks and credit unions with growing debt collection problems to quickly get rid of problem delinquent accounts, and turn them over to a collection agency.

Employing some of the tips suggested earlier, you’ll be better equipped to identify, early on, the more difficult accounts, and distinquish them from the customers that you can work with internally through payment arrangements.

These problem accounts need to be identified early in the process, and turned over to a third party collection agency. Failing to do so, not only decreases your likelihood of getting paid on them at all, it costs you far more in time, resources, etc.

Some collection agencies even offer programs specifically designed to restore negative accounts, and save the banking relationship with the customer before the account is charged off and closed. Research even shows customer retention rates of 70% and better, in addition to restoring negative account balances when they’re contacted pre-charge off.

The crucial element is reaching these customers before the account is charged off, not afterwards.Besides offering the customer incentives for restoring their former negative account status, its also proven that after a past due account is charged off and closed, these customers often seek bank accounts with other institutions.

Once this occurs, there’s less incentive for that customer to bring current their past due account.

Credit Repair-How To Avail Yourself Of The HIPAA Privacy Rule To Have Medical Bills Removed From Your Credit Report

The HIPAA (Health Insurance Portability and Accountability Act) Privacy Rule mandates that your private healthcare details may not be shared unless there is an allowable cause for doing so. HIPPA extends to credit reporting companies and collection businesses as well. For people, HIPPA actually assists in dealing with delinquent medical collection accounts and can be a vital part of the credit repair course of action.

There is an interesting dynamic when the rules of health-related records (aka HIPPA) are applied to the Fair Credit Reporting Act. Just about every set of guidelines compliments each other in a manner that permits you to pay off the late health-related invoice with the healthcare provider and then pressure the collection agencies to close the account and the credit reporting bureaus to remove it from your three credit reports. The steps are precise and must be done in order, but with the suitable facts and help, you can have all of your health care collection accounts removed from your credit reports.

Effectively, once the debt has been paid to the medical provider, neither the collection organization, nor the credit reporting businesses can access the information according to HIPPA because there is no lawful right to the info since it has been paid. The health care provider is unable to make available any data because it is a matter of your health care records, not an outstanding debt.

To start with, you alert the health care provider that you are opting out of sharing data with credit reporting companies and all collectors, via certified mail. Then you pay the health care provider in full, which under HIPPA, forces the medical provider from turning over the payment to the collection group, nor reporting the debt on their credit report.

Lastly, you send a letter to the credit-reporting outfit, asking them to verify the fine points of the debt, which under the Fair Credit Reporting Act is a requirement. Since the debt has been paid in full, the medical provider is powerless to provide any information. The collection outfit must also comply because they are unable to verify the data and because it is no longer a debt that they are allowed to collect.

This is a primitive overview of the process, but it is a sure fire means of removing medical collections from your credit report. You do not need to pay a credit repair corporation to do the above steps for you and doing so is perhaps a waste of your money. Instead, use a far-reaching ‘do it yourself’ credit repair system, that offers detailedcommands, different dispute letters particular to HIPPA and continuing aid to guide you through the procedure. Credit repair companies will aim to charge you up to $500 per entry, whilst you can do it yourself for a few hundred dollars.

Afni Collection Agency

AFNI Inc., otherwise known as Anderson Financial Network, is a collection agency based out of Bloomington, Illinois. One of their biggest clients is Verizon. Besides their shady and harassing debt collecting tactics, AFNI is known to try to illegally collect on accounts that date back to the early 1990’s. Such accounts are past the statute of limitations and are not legally collectible anymore.

If you get a letter from AFNI beware of this illegal scam. Also, if they try to report the account on your credit report, it is also illegal. In fact, each listing on your credit report is worth a $1,000 fine. To read more about debt collection laws and how you can stop collection agencies from harassing you, grab a copy of the FDCPA (Fair Debt Collection Practices Act).

Junk debt buyers such as AFNI Inc, pay pennies on the dollar for debts. Then, they intimidate, threaten and harass unsophisticated consumers. From false threats of legal actions to constant calling and even calling consumers relatives and calling their workplace, AFNI is amongst the lowest of the low.

Consumers are urged to demand validation of all debts from a bottom feeder because the majority of them have nothing to back up their claims. By demanding debt validation, you are utilizing your rights under the FDCPA to make the collection agency prove that they own your debt. It’s not enough for them to send you an itemized statement or printout of the debt.

Here’s what it states in the FDCPA – Section 809 – Validation of debts [15 USC 1692g]:
(b) If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt, or any portion thereof, is disputed, or that the consumer requests the name and address of the original creditor, the debt collector shall cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt or any copy of a judgment, or the name and address of the original creditor, and a copy of such verification or judgment, or name and address of the original creditor, is mailed to the consumer by the debt collector.

If a collection agency can’t verify a debt they are not allowed to collect or contact you about the debt. They are also not allowed to report it to the credit bureaus under the Fair Credit Reporting Act (FCRA). Doing so is a violation of the FCRA, and the FCRA states that you can sue for $1,000 in damages for any violation of the Act.

How can a Commercial debt recovery agency help you?

Accounts receivable is considered to be an essential part of any business organization. In fact, it is regarded as the life blood of a business organization. If an organization does not collect the amount it is owed it will rapidly have to shut its doors and stop doingbusiness. It is often found that larger organizations with aggressive, active accounts receivable departments hold severe difficulty regarding debt collection. For smaller organizations that do not have the employees to devote to delinquent payments, the incapability to collect monies owed can remove their revenueand cripple their growth. However, there is a solution which can facilitate these both large and small scale companies regardless of what their size is. Hiring a commercial debt collection agency is the best way out.

For organizations to grow they must be able to devote all of their energies, resources and ideas to produce their best products and services. Designating staff thatspends most of their time running after delinquent payments could turn out to be counterproductive. But it is necessary to collect outstanding debts for the businesses to flourish. The best resource a company can take advantage of requireshiring the service of a professional debt collection agency. This can easily save money as well as time. Collection agencies get a percentage of the amount they are able to collect. That means there is no upfront cost incurred by a company to hire a debt collection agency. The collection agency earns a percentage from the amount of debt they recover which is usually determined by the age of the debt. The older a debt is the more difficult it is to collect and therefore the collection agency fees increase. This is why best practice is to turn over the bad debt as early as possible.

The employees at professional debt collection agencies forcefully try hard to get the funds owed while being cautious not to be impolite or discourteous. This can often turn out to be helpful between the individuals owing the debt and the organization to which the amount is owed. This usually means that the debtor might still continue to do business with the organization. This is quite significant as it costs a lot to generate new customers than to maintain the old ones. A good debt collection agency operates as an extension of the accounts receivable management while recuperating the amount the company is owed.

Now let’s have a look at the various ways on how a commercial debt recovery agency helps you:

A commercial debt recovery agency provides experienced and highly trained employees that have the capability to have an optimistic effect of a debt being successfully recovered in full.
Hiring a commercial debt recovery agency will facilitate the client to be relieved of the stress and hassle of trying to collect on debts, which can consume a great deal of their time.
Good Commercial Debt recovery agencies utilize state-of-the-art technology that is required to carry out debt recovery activities in a highly effective manner.

Thus, these are the various ways on how the commercial debt recovery agency can facilitate you. By following these tips you can actually save yourself from the hassles and leave all the collecting to your chosen commercial debt recovery agency.

Summary:
A collection agency plays an integral role in debt recovery. Usually, creditors hire credit collection agency when the payment is not made in a timely manner by the borrower. Credit collection agencies are a third party company which is hired and authorised by the creditors to collect the amount owed. Therefore, the credit collection agencies provide Credit collection Services.

Debt Collection Tips

Debt collection tips from an experienced debt collection agency can help guide your business to successful debt recovery. The following article contains a few useful tips to improve your company’s debt collection and recovery efforts.

Debt Collection Tips – Supporting Documentation

To begin with, your debt must be verifiable to be collectable. Iron-clad supporting documentation to prove the legitimacy of the debt is paramount. Collecting debt can be much more difficult if there is any question as to the legitimacy of the debt owed. To ensure your debt will be collectable, should the need arise, be sure that any amounts owed are sufficiently supported by complete and thorough documentation along with signatures and dates, as well as clear acknowledgement of the amounts owed and the date the total amount is due. A gentlemen’s agreement and handshake simply does not suffice in today’s business world. Signing thorough documentation mentally prepares the debtor so they are fully, as well as, subconsciously, aware of the commitment they are making to pay your company the agreed upon amount by the agreed upon date.

Debt Collection Tips – Don’t Delay

Debt collection efforts can be greatly diminished if too much time passes before initiating debt collection activity. Statistics have shown that the older the debt becomes the harder it is to get a debtor to pay the money they owe you. Any delay in contacting and engaging your debtor can send the message to the debtor that they can get away with not paying what they committed to pay you. Once the debtor has developed the sense that they do not have to pay, debt collection becomes much less effective. Always be sure to initiate contact as soon as possible to send the message to the debtor that you are aware of the delinquency and intend to pursue the debt until it is paid in full.

Debt Collection Tips – Be Consistent

Be consistent in your debt collection efforts to show your debtor that you have no plan to forget or forgive the amount they owe you. It is essential that you devote ample time and resources to ensure successful debt recovery.

What can a National Debt Collection Agency do for You

A national collection agency is a service that businesses should use whenever they’re not collecting money from customers on time or at all. Collection agencies help extraordinarily when it comes to collecting money from customers and dealing with any bad checks. It’s relatively easy on your part, too. All you need to do is hire them and they’ll get the money back for you.

If someone owes you money, it’s best to contact a national debt collection agency as soon as possible. The sooner you hire one, the sooner they’ll be able to get to work. If you try to collect money earlier than later, the debt collection agency will be able to recover more money.

One of the best things about collection agencies in is that you only pay when your money gets recovered. Their pay is only based on the quality of their work, which means they’ll work extra hard and extra fast to get your money back. Usually, what you pay is only a commission of what is recovered. You can continue running your business while the collection agency does the hard work for you by contacting customers that owe you all day long.

If you use a national collection agency, there is a very strong chance that you’ll get your money back. These agencies have trained professionals who are highly skilled when it comes to appealing your customers to do the right thing and pay their debts.

If your customers are aware that you use a collection agency to make sure you get the money that is owed to you, the amount of customers that give you what they owe upfront will increase considerably. Hiring a national collection agency will inform customers that your business is serious when it comes to collecting what they owe for their products and services. They will likely not want to go through the hassle of dealing with a collection agency.

Using a debt collection agency is the best thing you can do for your company. This will free up time that would otherwise be spent by you and your employees trying to recover money from customers. This time is much better spent taking on new customers and improving your business.

A debt collection agency is an easy and convenient way of getting back the money from people who owe you. Let them do the hard work for you while you work on what’s important: nurturing your business.

Collection Agency Services – A Quick Start for the Intelligent Businessperson

The development of small business debt collection companies possibly attained its highest stage when the USA entered recession. These companies survived the monetary meltdown given that they still had a market and clients considering their support.

Why get this as your business?

Think of it this way, collection agency services go on all year round. There’s no peak or off-peak time for these companies. As opposed to food-based or product-based companies, there are actually lesser worries if products stay in your supply.

A further factor to recall is that collection agency services, will not likely fold up in the course of economic downturns. Instead, these companies are the ones likely enduring the serious scenario. When the credit crisis struck the USA a few years ago, many banks and lending organizations depended on this particular support to get customers to pay obligations. Some financing corporations also utilized this support to turn unpaid loans to immediate income. Overall, the business answer it gives provides much more lending companies a chance to recover.

How do collection agency services acquire earnings?

It operates in at least three techniques via: (1) a set month-to-month support charge, (2) a commission structure, and (3) financial debt purchase. In a fixed support charge scenario, a small business debt collection company concurs to collect due balances for a certain company in exchange for a fixed month-to-month charge. The cost depends on an earlier agreement signed by the two parties. Considerations produced may well stipulate quantity of debtors handled, financial debt quantity, and payment phrases.

A commission-based setup has the small business debt collection support getting a percentage of each financial loan compensated. Proportion might be set at 10% or higher according to a signed contract. The notion works that as more loans are compensated, much more income will come in for both companies.

In a financial debt acqusition contract, the collecting company purchases uncollected loans in bulk. They pay a certain charge to the funding agency in exchange. Whatever charge and corresponding sum they collect will likely be theirs alone to declare as profit.

Which company type is most effective?

There’s no great or poor business type by itself. Many small business debt collection organizations find fixed income profitable, while others work better employing other approaches. It all depends on your skills to operate a business variation and make it generate income.

What are the operating guidelines with regards to this business?

Laws might rely around the company’s area. City and state rules might vary every so often. It is far better to check with local federal government offices concerning these concerns. For instance, some areas have strict regulations with regards to contact schedules and personal contact with a debtor.

There are also states that have large fees imposed if you violate any of their rules. If you plan to take action in the courtroom, pleading with ignorance of the regulations is even a bigger issue. Many times, juries and judges might see this for a worthless justification or an attempt to circumvent the legal requirements and violate client trust.

If you’re preparing to go in this business, keep in mind that you’ll need much more pointers. Study publications and research other publicized materials to understand how major collection agency services triumphed in this particular field. Strategically plan for marketing and expose yourself as a new player so you get clients even before you formally open up.