Your Home for Financial Success


A simple definition of the term debt settlement is any term or method used in order to help an individual manage their debt. This includes services such as debt consolidation, negotiation of debts, bankruptcy, personal loans, as well as any other technique that helps consumers meet their debts. Cundo refers to negotiation of debts, used the term more commonly the term debt consolidation. The idea of consolidation of debts is as follows: an individual enters the program, and this allows that your monthly payments and interest rates decline, bringing together all your debts into a single. Then once a month each individual make a monthly payment to the consolidating company who undertakes to pay to the different banking entities where the person owes money. The theory behind this is that the customer pays less interest rates while simplifying payment processes, since you must not pay you but to a company. However the consolidation also has its cons. Normally the program lasts for 5 years, and even when the person is paying interest rates lower, the long duration of the programme means that the customer pays a great deal of interest throughout the program.

Consolidation companies also charge a monthly Commission of $30-$50 totaling and increases in time. And the problem most large is the quality of some consolidation companies, a large number of companies without scruples that do not meet the promises that make its customers. Finally the participation in these programmes can have negative effects on your credit score that can not be repaired until the program is complete. Another way of very popular debt elimination is debt settlement option. This practice involves negotiating and reaching an agreement with the credit companies. Many times lenders accept receiving 40-50% of the value of the debt to eliminate it. This option can also have problems if it is with companies eliminating debts to unscrupulous While they charge commissions very high gain ill-treatment and produce little.

How debt consolidation can also affect your credit score, but as this program only lasts 2 to 3 years it can be rebuilt more quickly. Debt negotiation can be a very effective way to put an end to their problems, when individuals choose either company they want to work. There are numerous methods included in the definition of negotiation or elimination of debts, which include declaring bankruptcy, refinances mortgages, purchase a loan of consolidation, etc. But the aspect most important to remember is put in a balance the advantages and disadvantages of each option very well. Be sure to choose a program and a company that fits your needs and meet your expectations. Scott Wallitsch is certified by the IAPDA as debt negotiator for DebtorSolution. He provides advice on Elimination of debt and negotiation of Deudas(Debt Settlement) people who are seeking to become financially and economically independent.

Single Tax Rate

Monterrey N.L.-the single-rate tax is not new. Its implementation in the emerging economies of the old Soviet bloc behind their use by encouraging the contribution of taxes for development and discouraging tax evasion. That is the objective of the Secretary of Hacienda Agustin Carstens, Chicago Boy by excellence and former Deputy Director of the International Monetary Fund. It is obvious that Carstens has strong influence of the IMF and the University of Chicago. A recent study by the financial body said that single-rate tax has managed to reduce tax evasion and has elevated the collection, in a virtuous circle for public investment in Russia.

Countries that have successfully implemented this new tax, in addition to Russia that adopted him since 2001, are Slovakia, Romania, Georgia, Estonia, Latvia, Serbia and Ukraine and Poland and the Czech Republic will soon it. For its part, Richard Epstein, Professor of law of the University of Chicago, where he studied our Secretary of the Treasury points out that it is not no coincidence that the great defenders of limited Government lean toward single-rate tax. Liberal capitalism may be recalled it rests on three torales bases as the limited Government – by the Constitution, the free market and private institutions strong, generating of wealth. Another of the advantages of the tax initiative of Carstens is attack the tax evasion of the informal economy by taxing monthly deposits exceeding the 20 thousand pesos – added in various accounts or a single-. This simple measure will increase tax revenues in a country where the majority of the economically active population and by his account, jumps the duty to contribute to our country. Many are financed with own taxes and others simply cannot pay.

As we can see, master Carstens extruded sleeve this new proposal that has already proven to be good in emerging economies as the Russia and left behind the recommendation of the IMF itself from taxing food and medicines which, by the way, the private sector of Mexico complains. The call of the Republic is to pay tax to deter evasion and thus invest in Mexico. Now we need Government to slim and leave behind, wasteful spending as interest payments to the banks by the great robbery of the Fobaproa. The discussion about the bad call petty cash tax reform – the respectable expected something more spectacular – will take weeks. It is a fact that for September 8, date to debate public spending for 2008, ready the opinion to put to members for consideration. If you look, dear reader, are a few days that end June, the discussion would be in August and September, later than in October, will have a green light to the proposal and the 2008 spending. No wait for the last day of December to get written laws on the knees that has no benefits us in this country. Times are in line to support the Andres Manuel Lopez Obrador teatrito July 2 that will begin to insult and rant for getting tired and tired until the end of the same month. The wearer does know You which is the Forum? asks North citizens who answered with a 70 percent that don’t. But if they have three years criticizing the event and neither so they have managed to spread it!