What is Debt Management?

Debt management is just one of a number of options available to you when facing serious debt problems. These options should be looked at and considered so that you can decide which option is right for your circumstances. Debt management is a term which denotes managing a borrower’s debt. There are many factors which might have been influential in your debt. Debt Management is not a ‘quick fix’ to stop this happening.Debt Management is one of a number of debt solutions available for people struggling to pay off their debts. the CCCS offer free debt advice and counselling. Debt Management is nothing to be worried about. For example, most people need a mortgage to buy a house, it would be unreasonable to think that we should buy our homes with savings. therefore debt is inevitable. Debt Management is the process by which your debts are consolidated into one lower monthly payment. This one payment will be an amount which you can afford, and will be apportioned amongst your creditors.Debt management is not a term that most of us want to think about. And while debt management is necessary in terms of bad debt, it is important to know how to properly use for good. Debt management is a system which will allow an individual or family to pay their creditors. All your unsecured debts are calculated along with your monthly outgoings. Debt management is the most effective solution to dealing with unmanageable debts. It will stop demands from creditors, help you regain control of your finances and create a single affordable monthly payment.Debt Management is an option available for people with high outgoings who are struggling to manage their repayments and can’t get a loan to consolidate these. By utilising a debt management scheme you are able to cut your monthly outgoings by up to half and only make realistic repayments. Debt Management is a way out of trouble for many people that is seeing a rise in popularity. From a finance professionals point of view it can be the best advice for a client and also an additional income stream from otherwise declined or rejected mortgage inquiries.Debt Management is an alternative debt repayment plan to an IVA that allows you to pay just one low affordable monthly payment to your creditors. If you qualify for an IVA you should explore that option first before accepting a debt management plan. Debt management is becoming increasingly crucial for many Brits who need help.Individuals may borrow more money to be able to pay creditors or bills, however this is not usually the best thing to do. The most common thing to do is to try and ignore the problem, but this will not make it disappear. Individuals usually get into a debt problem because they are living beyond their means and supporting their spending habits with credit cards. A debt consolidation loan may appear to solve things by paying off the existing debts but unless this loan is affordable it can lead to even more trouble. I properly run debt management plan will help to bring debts under control once and for all.

Enjoy the Snow

Remember how your parents always seemed old to you, even before they reached middle age? They could never relate to you, they could never remember what it was like to be a kid. Now, you’re an adult with children, but you’ve made a pact with yourself-no matter how old you get, you’re always going to think “young”. You’ll always be able to relate to your kids. Right?Here’s a quick test of your resolve:The weatherman just predicted freezing temperatures and heavy snow-what’s your reaction? You groaned, didn’t you? Your first thoughts were about hazardous driving conditions, shoveling snow, high heating bills, and whether or not you remembered to insulate your water pipes. Yup. You’re officially a grown-up.Now, look at your kids’ reactions. Sheer joy, at the possibility of a snow day, filled with sledding, snowmen, and snowball fights. You remember what that was like, but you can’t really relate, any more, can you? You’re thinking about the potential hazards they face-frostbite, injuries, and pneumonia.You groan, again-it’s gonna be a long week.Look, you can’t change the direction of that storm front. You’re going to be socked in. You might as well accept it and make the most of it-and remember that big snow is big fun for kids. If you’re really going to think “young”, now’s the real test.There are definite and real hazards to very cold weather, and to spending too much time in the snow. But you can prepare yourself and your kids for the outside conditions, by following a few simple guidelines.First of all, before venturing out, feed your kids a meal or a snack. The extra calories will generate extra body heat. Dress everyone in several layers of clothing, starting with long underwear, adding turtlenecks and sweaters, then coats. Avoid cotton clothing-it doesn’t warm well and it absorbs moisture. Synthetics such as Gore-Tex can actually whisk moisture away from skin. Everyone should wear mittens-they keep hands warmer than gloves-and take an extra pair, in case snow works in, underneath, freezing small hands. Of course, warm socks, boots, and hats are essential in the snow. And something many people forget-if the sun is out, wear sunscreen. Snow can reflect 85% of the sun’s UV rays, causing quick sunburns. If the snow is wet, a final, waterproof layer of clothes, even rain-gear, is recommended.If sledding is on the agenda (and if there’s a hill in sight, it definitely is), make sure that it’s done on a slope with no hazards. One slip of the rudder can send a sled into a tree. Have your kids wear their bicycle helmets while sledding-head injuries are the most common result of sledding accidents.But you can have lots of fun with your kids in the snow. It really is fun to build and clothe a snowman, and a snowball fight (play clean-no rocks), is great exercise, especially for you. As long as your kids are dressed properly, there’s no set time-limit for being out. When you get cold, it’s time to come in. If you top the day off with some hot chocolate, you might even remember what it was like to be a kid. You might even really feel young, again.

Business Capital Solutions In Canada: Accessing Proper Cash Flow & Commercial Financing

Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.

One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.

Business Loans In Canada

Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.

1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general

2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing

3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company

Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!

A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!

When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.

How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.

Three basics always emerge when it comes to your search for the right business capital and financing.

1. The amount of financing you need

2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders

3. How the financing is structured to be manageable with your day to day operations

What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business

Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:

A/R Financing / Factoring / Confidential Receivable Finance

Inventory finance / floor planning / retail inventory

Working Capital term loans

Unsecured cash flow loans

Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.

Royalty finance

Asset based non bank business lines of credit

Tax credit financing (SR&ED bridge loans)

Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.

Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.

If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.

Stan has had a successful career with some of the world’s largest and most successful corporations.

His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.