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How a Credit Card Debt Relief Program Works

The first step toward taking control of your financial situation is to complete a realistic assessment of how much money you make and how much money you spend. Prioritize them and make sure you can pay the basics: housing, food and consumables, health care, insurance, travel and education. Write down all your expenses to track your spending patterns and separate the necessary expenses. Find out what interest rates (APR) you pay on each credit card. And be prepared …you might be astonished. You may want to consider using a debt management group in order to consolidate your debt.

We encourage you to do some homework before making a decision on which company to use. Begin with checking out a few companies with the Better Business Bureau online. This will help you determine their past history. Find out what services the competitors provide, what success rate they have and what it will cost you. Credit card debt relief programs generally work with unsecured debts that are not tied to an asset like your home or auto.

A debt settlement program can provide credit card debt help through professional negotiations with your creditors. The outcome can be a debt reduction of 40 – 60% off what you owe. The program length is generally 12 – 36 months depending on the amount of monthly payments that fit your budget. There is a 48 month program available but not advised because creditors may not want to wait that long to receive total payment. They can also help you if you’re in a bad credit debt consolidation. Credit card debt reduction programs also charge fees but they are negotiable with most companies. A debt settlement program does not show up on your credit report. But it will have an adverse affect on your credit score. How adverse of an affect depends on your present credit score.

A debt consolidation and management program may also be a viable option for consolidation debt help. They are generally non-profit organizations but they also charge fees. They can consolidate your debt into a single monthly payment. Their monthly payments are generally higher than those in a credit card debt relief program. Debt consolidation and management programs do report to the credit bureau as managing your credit situation for debts entered into the program. This will have an adverse affect on your credit score since credit is based on your ability to pay your own debts on time. Consolidation debt help plans also offer loans in order to consolidate your debt. They also work with bad credit debt consolidation.

You may require some essential investigation and basic steps on how to eliminate credit card debt. After you make your decision try to stick with it. Debt consolidation and management program can be just as effective as a debt settlement program. You will need to weigh the comparisons between the two popular plans. There are pros and cons with both to consider.

If you have any questions feel free to contact us about our credit card debt relief programs. One of our experienced and professional debt specialists would be glad to explain your options with no obligation. Our website is: www.creditresultsusa.com. Our staff will be available to assist you immediately.

Merchant Cash Advance to the Rescue

Merchant Cash Advance to the Rescue Times are tough for small business. Businesses have been closing their doors at an alarming rate. What makes this a particularly rough time for businesses is that they are getting it from both sides;

    ,li>Customers aren’t purchasing their goods or services like they used to.

  1. Banks aren’t lending them the working capital to get past these tough times.

This is what is known as a “double whammy”. This current financial crisis is causing a lot of sleepless nights for many small business owners. I have come into contact with people who are being forced to close their business that they have owned for over 30 years. I can’t express the amount of pain that these people are going through.

For many, a business loan could have saved their business. But the banks are unwilling to loan money to any business that may show any sign of financial trouble. What is maddening is that these large banks were given our tax money to do just that; loan us money.

Fortunately, there is a business loan alternative called a merchant cash advance (or merchant loans). They aren’t perfect; but they come awfully close.

The advantages of a merchant cash advance

There are many advantages to a merchant cash advance. One of the most important is that they will give you money even if you’ve been turned down by the bank. Other advantages include;

  • Good credit is not a requirement
  • There is a 95% approval rate
  • Approval takes about 24 hours
  • You business is typically funded within 7 days
  • No collateral is necessary
  • Flexible payback structure
  • Quick, easy application process
  • You can get funded up to $500K
  • As you can see, there are many benefits to merchant loans. The only advantage bank loans have is that they cost less. But that doesn’t do anyone any good if they can’t get a loan.

    One of the unique aspects of a merchant cash advance is the flexible pay back structure. Here’s how it works;

    In order to receive a cash advance; you need to enable your processor so that a percentage of your daily credit card sales are automatically used to pay back the merchant loan. Because they only use a percentage of your credit card sales; the payback is dependent on the amount of business you do for that day. That means you pay back less on slow days and more on busy days. They do not touch your cash sales at all. This takes a lot of stress off your business and creates an environment that is easy to pay back your advance.

    Merchant cash advance providers is a growing industry. They have advanced hundreds of millions of dollars to thousands of small business.

    It is always in your best interest to stay informed and to keep your options open. I have provided a link below so you can learn more about how a merchant cash advance can help your business.