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Debt is a common part of life. However, not every consumer has been behind on their debts to a point wherein a collector is reaching out to you. The moment a debt collector tries to get in contact with you, you might feel intimidated, even scared. How do you deal with them? Or is your debt at such a significant point that a third-party collecting agency is called in for collecting payments to your debt? You can get free advice from debt mediators about how to deal with the situation.

For more information, visit their website at: http://www.debtmediators.com.au

The trend of consumer indebtedness continues in the country with many struggling to pay back their loans. There a number of debt agencies available to assist them to get out of debts. Focus is now on how theses agencies are helping and is their formula working or are there alternative. To discuss this we are joined by Saubrey Tshabalala who penned the book How to get out of bad Debt use other people’s money and resources to get rich.

For more news, visit: http://www.sabc.co.za/news

You’re in deep with credit cards, student loan debt and car loans. Minimum monthly payments aren’t doing the trick to help nix your debt. Something has to change, and you’re considering debt consolidation because of the allure of one easy payment and the promise of lower interest rates.

What Is Debt Consolidation?
Debt consolidation is the combination of several unsecured debts—payday loans, credit cards, medical bills—into one monthly bill with the illusion of a lower interest rate, lower monthly payment and simplified debt relief plan.

Check out this article from Dave Ramsey on Debt Consolidation: https://www.daveramsey.com/blog/debt-consolidation-truth

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I feel so blessed to share with you all here on YouTube. This video may contain links to affiliate programs. If you click on the link and make a purchase I will receive a small percentage of that sale at NO extra charge to you. However, you are under no obligation to buy anything I ever mention in a video. Sometimes I am lucky enough to have products sent to me for review. If I partner with a company I will always disclose it here. All opinions and reviews that I share are and always will be my own I will only share products that I myself would buy.

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Beware of incompetent Debt Counsellors

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CCCS stands for Consumer Credit Counselling Service.

It is an non profitable organisation that help individual in credit card trouble.
However, not all people are qualified for their help.
Find out why and how CCCS works in this video.

Getting a debt consolidation loan isn’t that hard. If you know where to look. There are two kinds of debt consolidation loan lenders. Prime, and high risk.

Whenever you are looking for a debt consolidation loan to consolidate credit card debt, always start and end with your bank. Otherwise you could end up in a situation where you are paying 30-39% interest to a high risk lender.

Watch the video to learn how to get a debt consolidation loan.

Visit: http://www.totaldebtfreedom.ca/ for more info

Credit counseling offices across Canada – in Surrey, Vancouver, Abbotsford, Calgary, Edmonton, Winnipeg, and Toronto – For over a decade, the professionals …

What is DEBT RESTRUCTURING? What does DEBT RESTRUCTURING mean? DEBT RESTRUCTURING meaning – DEBT RESTRUCTURING definition – DEBT RESTRUCTURING explanation.

Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.

Debt restructuring is a process that allows a private or public company, or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts in order to improve or restore liquidity so that it can continue its operations.

Replacement of old debt by new debt when not under financial distress is called “refinancing”. Out-of-court restructurings, also known as workouts, are increasingly becoming a global reality.

A debt restructuring, which involves a reduction of debt and an extension of payment terms, is usually a less expensive alternative to bankruptcy. The main costs associated with debt restructuring are the time and effort negotiating with bankers, creditors, vendors, and tax authorities.

In the United States, small business bankruptcy filings cost at least $50,000 in legal and court fees, and filing costs in excess of $100,000 are common. By some measures, only 20% of firms survive Chapter 11 bankruptcy filings.

Historically, debt restructuring has been the province of large corporations with financial wherewithal. In the Great Recession that began with the financial crisis of 2007–08, a component of debt restructuring called debt mediation emerged for small businesses (with revenues under $5 million). Like debt restructuring, debt mediation is a business-to-business activity and should not be considered the same as individual debt reduction involving credit cards, unpaid taxes, and defaulted mortgages.

In 2010 debt mediation has become a primary way for small businesses to refinance in light of reduced lines of credit and direct borrowing. Debt mediation can be cost-effective for small businesses, help end or avoid litigation, and is preferable to filing for bankruptcy. While there are numerous companies providing restructuring for large corporations, there are few legitimate firms working for small businesses. Legitimate debt restructuring firms only work for the debtor client (not as a debt collection agency) and should charge fees based on success.

Among the debt situations that can be worked out in business-to-business debt mediation are: lawsuits and judgments, delinquent property, machinery, equipment rentals/leases, business loans or mortgage on business property, capital payments due for improvements/construction, invoices and statements, disputed bills and problem debts.

In a debt-for-equity swap, a company’s creditors generally agree to cancel some or all of the debt in exchange for equity in the company.

Debt for equity deals often occur when large companies run into serious financial trouble, and often result in these companies being taken over by their principal creditors. This is because both the debt and the remaining assets in these companies are so large that there is no advantage for the creditors to drive the company into bankruptcy. Instead the creditors prefer to take control of the business as a going concern. As a consequence, the original shareholders’ stake in the company is generally significantly diluted in these deals and may be entirely eliminated, as is typical in a Chapter 11 bankruptcy.

Debt-for-equity swaps are one way of dealing with sub-prime mortgages. A householder unable to service his debt on a $180,000 mortgage for example, may by agreement with his bank have the value of the mortgage reduced (say to $135,000 or 75% of the house’s current value), in return for which the bank will receive 50% of the amount by which any resale value, when the house is resold, exceeds $135,000.

A debt-for-equity swap may also be called a “bondholder haircut”. Bondholder haircuts at large banks were advocated as a potential solution for the subprime mortgage crisis by prominent economists:

Economist Joseph Stiglitz testified that bank bailouts “are really bailouts not of the enterprises but of the shareholders and especially bondholders. There is no reason that American taxpayers should be doing this”. He wrote that reducing bank debt levels by converting debt into equity will increase confidence in the financial system. He believes that addressing bank solvency in this way would help address credit market liquidity issues.