How To Repay Your Debts With Out Borrowing More Money In Three Easy Steps

If you cannot be honest with yourself, you cannot be honest with other people!

If you cannot be honest with yourself, you cannot be honest with other people!

This is how l provide my “Debt Management Services” to people who are in need of help and guidance, to cut their debts, and not increase them by borrowing more money!

My personal view of anyone that lends money to get people out of debt is that it is wrong! I realise that when faced with a large bill, or how to repay that last payment to the power company, or even the debt collector, the first thing we all do is “panic”! It is then that “Pay Day Lenders” come into their own by providing what you “want” not what you “need”

The reason why l can know ,all this was back in 1988 my debts were “huge” and l was absolutely “terrified”at the thought! But in my case l had actually lent other people’s money, as l was a “broker” that broker deals all over the world, and one day l was “broke”myself! I contemplated a number of routes including “suicide” but l did not believe, that this would really solve my debt problems! I needed to find a way to repay those that l had personally “borrowed” in my name! As these were the ones that would one day come back to haunt me!

So l set about creating a plan and named it using the initials in my name “DRAPE” and it stood simply for “Debt Reduction Analysis Plan Exercise” it eventually got shortened to just “DRAP” as it became simply “an exercise in good debt management” rather “than borrowing as a way” to repay my debts! So in this post l will simply explain how l do this, as everyone can do it ,but many are too scared to contact “their” lenders, so they go to short-term money lenders! This eventually brings them back to me and usually it is too late! So read how using

“My Three Easy And Simple Steps” you can teach yourself how to “not to pay more money to other lenders” and use that money you “save” to manage and eventually get out of debt!

Step One:- Being Honest With Yourself:

Is really adding together all that you owe, every debt you have including bills, finance agreements or others, even money owing to family or friends! This will enable you to start to deal with the “fear over debt” it is not the debt itself you fear “but the fear of being in debt.” So by adding it all together “you become aware of your total indebtedness” but be warned if you hide anything it will “come back to haunt you,when you least expect it.” As lenders who are ignored, will pester the life out of you “causing you even more stress,” that is why l call it “being honest with yourself” as if you are not honest with yourself, you cannot be honest with anyone else, including the lenders! And this plan is simply about “honesty”, as you will see, as l proceed to step two!

Step Two:- Being Honest With the Lenders:

Once you have fully mastered step one you can move onto step two and decide the “how and what” of presenting your case to the lenders {Be it One or More} this is the point at which people turn to “Debt Management Companies” for help and yes sometimes they relieved the short-term problem but they do not do this “without payment” for their services! Their costs vary and it is usually added onto what “arrangement for payment” you eventually agree upon, this is called “ Making An Arrangement With YOUR Creditors notice l highlighted “YOUR” as if to scream out at you as it is “YOUR” creditors and not the debt management companies! As once they have made an agreement upon your behalf, that “you”will pay them an agreed amount to the lenders, which now become “your” creditors, as at this point “the state of lending policy” has changed, in that “you”are no longer “lending money” ,but agreeing to repay it”! This makes a huge difference to UK Finance Agreements” as they change their “status” just by the fact of being altered by “YOU”!

Up to that point you have being paying a set amount monthly and you signed up when you “purchased this agreement, with you signature and now you have changed it state of payment status”,so and thus you agreed “ALL Terms and Conditions” that applied at the time, that by the way could be “Altered” by them at any time! That is “onerous” to say the least, but now “YOU” have changed the “State in which the “contract exists” and as such you are no longer governed by the same rules that applied at start of contract!

So as not to put to finer point on it, once these “debt management companies” change or alter your agreements” by making “An arrangement with YOUR creditors” you must not ,miss one payment or you immediately and without question revert to “non forfeiture” of YOUR agreement”. Then every single penny you owe ,will be added onto the agreement plus “compounding interest” and they will “demand immediate payment in full” or court action will apply!

Now you know why l said at “step one be honest with yourself”is simply about being honest with the lenders” as in this regard it will “save you time and money”! By being honest about “the amount of your debts” you will be honest with lenders “about how much you can “comfortably afford as a payment under this NEW arrangement”.  As so many people say to “debt management companies” l can afford that amount, as l have overtime, or a good job or another reasons! It is the job of any “good debt management company or services” to get the best deal for “YOU” and not “THEM”! As remember “their fees” are based on a percentage of “YOUR” repayment as agreed by “YOUR” creditors, the higher they get “YOU” pay the more they charge in costs!

Step Three: Getting The Best Arrangement For YOU!

This is all up to your “Debt Management Company or Services” a good word “services” meaning to “serve” or “provide service”, not to themselves but to you their “customer” so choosing who to use, or trust becomes a minefield! So my advice is simply

If it feels right in your Heart” then you are 90% of the way there, in making the right decision. The other 10% is down to“cost for their “services” in other words”. What do l get for “MY Money”you see l have once again highlighted “MY” as to mean belong too ,as it is “YOUR” money not theirs!

My advice is at this stage ask for a “complete break down of their service costs in writing” so you can then assess the “true cost of using their company or not”! So being honest at outset with yourself and then the lenders, will then enable to decide ,who can l trust with “MY” money!

The answer is simple of course trust “NO ONE” they have to “prove” they can be trusted and it is not up to “YOU” to prove anything at all! Any company charging “upfront cannot be trusted” or any “company charging a % of you debts” “CANNOT” be trusted! You can only “TRUST” once the company has provided their “services” for nothing and delivered what they said in your contract with them, and not before! REMEMBER: They need you and you do not need them! But they also want you, but you do not want anything from them except, a great service at a great price ,with no strings attached! Then if the cost of their “Flat Fee Charges” seems fair and feels right in your heart, that is all “YOU” can do to “TRUST” you instinct! As it is all down to “THEIR” skill or lack of skills to get “YOU” the best arrangement possible, for “YOUR” money!

As from 2013 we no longer charge any fee for our services, either upfront or at completion but will make an arrangement with your creditors, that is both affordable and also can be paid into a designated banking arrangement for the lenders!  This amount will increase under any circumstances once we have it in writing and have confirmed it to you, it will be fixed until all your debts are clear. One small thing l should mention is do not stop the agreed payments or the lenders reserve to the right to reinstate original amount and add back all interest, also their will not be any third chances! So need to get good quality advice about “YOUR DEBTS” then email me at our new designated email address at get-out-of-debt@acefinance.me or leave a comment on this post or email it to need-help-to-with-debt@acefinance.me and l will contact everyone as soon as l possibly am able. 

Thank you for your support in 2012 and will provide more helpful advice in 2013.

Happy New Year

Kindest regards,

Editor {Ian Draper Ace News Group} 

#company, #creditor, #debt, #debt-consolidation, #debt-management-plan, #debtreductionanalysisplanexcercise, #drap, #financial-services, #loan, #payment

My New Word Press APP On My BlackBerry

This is just a test of how my BlackBerry, posts in Word Press!

Posted from WordPress for BlackBerry.

#blackberry, #wordpress

The Institute for Fiscal Studies has said that the spending cuts announced in the Autumn Statement are “close to inconceivable”

Tax

Tax (Photo credit: 401(K) 2012)

 

The Institute for Fiscal Studies has said that the spending cuts announced in the Autumn Statement are “close to inconceivable” and added that it believes further welfare cuts and tax rises are likely if the Government’s figures are to add up. Its director Paul Johnson said that pensioners’ benefits could be targeted for further cuts, commenting: “Working age individuals receiving benefits and tax credits have been hit. The richest few per cent have been hit very hard. Pensioners, and those in work on more modest incomes have borne less of the burden.” The IFS said that Britain is on course for £7bn of tax rises and another £20bn in welfare cuts and spending reductions after the next election, adding that it expects 5m workers to be paying higher-rate tax by 2015 – half a million more than the Treasury’s estimate.

 

#autumn-statement, #britain, #business, #economy, #george-osborne, #government, #ifs, #institute-for-fiscal-studies, #legal-working-age, #paul-johnson, #politics, #tax

OFT has opened formal investigations into several payday lenders over aggressive debt collection practices.

A shop window advertising payday loans.

A shop window advertising payday loans. (Photo credit: Wikipedia)

The OFT has opened formal investigations into several payday lenders over aggressive debt collection practices. It is also today writing to all 240 payday lenders highlighting its emerging concerns over poor practices in the sector.

These actions are set out in a progress report published today as part of the OFT’s compliance review of the payday lending sector. It highlights concerns about:

  • the adequacy of checks made by some lenders on whether loans will be affordable for borrowers
  • the proportion of loans that are not repaid on time
  • the frequency with which some lenders roll over or refinance loans
  • the lack of forbearance shown by some lenders when borrowers get into financial difficulty
  • debt collection practices.

The OFT is continuing to gather and analyse information about the activities of payday lenders as its compliance review progresses. It also expects to warn the majority of the 50 firms inspected, which account for the majority of loans, that they risk enforcement action if they do not improve specific practices and procedures which came to light when they were inspected. The OFT will require those lenders it warns to provide it with independent audits to verify that they have improved their practices and procedures to comply with legal obligations and expected standards.

The emerging findings are based on information from a wide range of sources, including:

  • a ‘sweep’ of the websites of 50 payday lenders
  • a programme of inspections of over 50 individual lenders
  • 686 consumer complaints
  • a mystery shopper exercise involving 156 online and high street lenders
  • 1,036 responses to a survey of businesses, trade associations and consumer bodies.

They have uncovered evidence that some payday lenders are acting in ways that are so serious, that they have already opened formal investigations against them. It is also clear they have said, that across the sector, lenders need to improve their business practices or risk enforcement action.

‘Their report shows that a large number of payday loans are not repaid on time. I would urge anyone thinking about taking out a payday loan to make sure they fully understand the costs involved so they can be sure they can afford to repay it.

‘Their revised guidance makes it absolutely clear to lenders what they expect from them when using continuous payment authority to recover debts and that we will not accept its misuse.’

The Consumer Credit Act 1974 requires most businesses offering credit, lending money or involved in activities relating to credit or hire, such as debt collectors, to be licensed by the OFT. The OFT produces guidance to clarify its expectations of those companies and individuals that hold a consumer credit licence. Failure to have regard to OFT guidance can call into consideration the business’ fitness to hold a consumer credit licence.

#business, #collection-agency, #consumer-credit-act-1974, #credit, #debt-collection-practices, #formal-investigations, #loan, #office-of-fair-trading, #oft, #payday-lenders, #payday-loan, #street-lenders

Strategic Assessment of Risks to UK Consumers and Markets.

The OFT is seeking comments on its Annual Plan 2013-14 consultation,

The official body of people that govern the issuance of consumer credit licences and their use!

The official body of people who govern the issuance of consumer credit licences and their use!

published today alongside its Strategic Assessment of Risks to UK Consumers and Markets.

The consultation sets out the OFT’s proposed objectives and priorities over the next financial year, its fortieth and final year before the transfer of functions to the Consumer and Markets Authority and the Financial Conduct Authority. The OFT intends to continue to focus on work to make markets work well for consumers and the wider economy, alongside ensuring a rich portfolio of cases is handed over to the new institutions.

The proposed areas of focus are informed by the OFT’s first published Strategic Assessment, which identifies key developments and trends in the macro-economic, regulatory, political and social environment – such as economic challenges, demographic change and technological advances. It considers risks to consumers and markets in this context, taking into account the probability of problems arising and impact, should they occur.

During 2013-14, the OFT plans to prioritise work that reflects the following themes:

  • vulnerable consumers and consumers challenged by the adverse economic climate
  • pricing used as a barrier to fair choice
  • novel and developing markets and business practices
  • public services markets
  • closer working with the economic regulators.

These priorities have been developed in the context of a challenging economic climate and are designed to maximise impact against the backdrop of a reduced OFT budget.

OFT Chairman, Philip Collins, said:

‘In the coming financial year, we will remain focused on delivering outcomes that matter for the consumer and the economy, while also preparing the ground for the transfer of the OFT’s functions and the establishment of the new institutions. Publishing our Strategic Assessment of Risks alongside the Annual Plan consultation makes clear the thinking behind our choice of themes and priorities.’

#business, #consumer, #economics, #economy, #financial-conduct-authority, #government, #office-of-fair-trading, #oft, #philip-collins, #social-sciences

70 Fire Stations Are At Risk Under Government Spending Cuts

Fire stations at risk

Union leaders have warned that almost 70 fire stations in England are at risk of closure and scores more face being downgraded if the Government presses ahead with spending cuts. The Fire Brigades Union said that seventeen stations were at threat in London, 11 in West Yorkshire and South Yorkshire and ten in Greater Manchester and Merseyside.

#england, #fire-brigades-union, #fire-station, #greater-manchester, #london, #manchester-fire, #merseyside, #rural-communities, #south-yorkshire, #union-leaders, #west-yorkshire