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The proven way to handle late payments is to avoid them. This begins by developing a comprehensive credit policy and then implementing it from the start.
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In the last 30 days, lenders have sent several hundred thousand letters advising borrowers that their home equity lines of credit are frozen. Small-business owners who use home equity lines to bridge cash-flow gaps throughout the year are also being stricken by these curbs.
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Scammers are taking advantage of the credit crunch to entice small business owners with fake loans. Here's how to identify the warning signs.
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When you are negotiating a debt settlement, it is important to appeal to the debt collectors’ sense of compassion.Understand that a debt collector is also human. This may be hard for anyone to believe as most times they portray themselves as being leeches.
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Some of last year's direst predictions about the economy are now coming true. Here's what you need to know about what comes next.
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Be wary if some of your clients are getting slow on payments. More businesses filed for bankruptcy in April, 2008, than in any month since new bankruptcy laws took effect in 2005, according to a company that tracks federal court filings.
The numbers show a 49% increase in commercial bankruptcies over last year, with an average of 235 daily fil
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All Monique Walker needed was $5,000 to rebuild her business in Houston after Hurricane Katrina. But the banks said no. Arga Bourgeois needed $10,000 to expand her store, the only health food outlet in her black neighborhood. But the banks said no. Both women found help with Acción Texas, a nonprofit lender that provides microloans to startups or
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The turbulent economy is exposing yet another type of credit where bankers let their guard down: small-business loans.
Missed payments and losses on small-business loans are surging at banks throughout the country that were so eager to pad their profits that they essentially threw typical underwriting methods out the window. Some lenders doled
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In order to get out of your debt, you must apply the secrets of debt freedom. These tips are the foundation of becoming debt free and creating options in your life.There is an old saying that talks about stupidity. It goes something like “the definition of stupidity is doing the same thing over and over again, expecting a different result”. For ex
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