Bankruptcy IVA Or Dept Management Plan - What's Right For You?

Bankruptcy can be your worst nightmare in this world. Bankruptcy is characterized by a state where everyone continuously struggles to maintain a standard of living whereby being in debt and hence financially ruined. The western world faces this problem more than the underdeveloped world because the concept and utilization of credit is more common in the highly developed western world than in the underdeveloped countries.

Managing your debt is perhaps one of the most difficult tasks, especially when you have property at stake. Due to the recent economic crisis, many countries have launched different debt management plans to help the people deal with their debts. IVA is one such debt management plan launched and supported by the government in UK to help people get rid of their debt at affordable rates and possibly prevent repossession of their property.

IVA (Individual voluntary plan) is a debt management plan where the creditors agree to settle the debt with their debtors at affordable rates. The IVA plan generally involves a careful assessment of the applicant's financial conditions, incomes, and expenditures, and then draws a draft plan for the repayment of the debt.

This draft plan is presented to the creditors and upon the approval of this plan by the creditors in an open meeting the debtor is allowed to pay off the debt at affordable rates in 60 months. The affordable payment is decided by balance of the income less expenditures. The creditors have the right to reject the plan and if more than 25% of the creditors reject the plan, the IVA is disapproved.

This plan is generally very beneficial for the debtor because in this the debtor gets a chance to repay the debt and save his property from repossession. Creditors might also be attracted by this plan because in many cases they would not be able to recover any amount of debt from the debtor, and in such a case they get the opportunity to recover some amount of the debt and thus they might also approve of this debt management plan.

It is also possible to get reduction in interest rates, and the thus the overall debt is also reduced thereby giving the debtor a chance to repay the debt and regain control over his life. Generally, this management plan is suitable for people with multiple debts as it will help them get rid of all those debts at reasonable monthly installments.

Other than IVA, there are many other debt management plans such as Debt consolidation loan which is granted to people who generally have multiple debts. This is actually a loan obtained to pay back multiple loans in large instalments, and then the debtor has only one creditor to deal with and the repayment of this single loan is then done in reasonable monthly installments.

This may also help you in reducing interest rates by repaying multiple loans and thereby merge them into one single loan. As there is only one loan, the interest would only be applied on this loan, and thus you would have to pay lesser amount over all interest.

Do you need proper Debt Management plans? Contact us for IVA debt solutions

US Dept Of Defense Homeowners Assistance Program

In Washington, Vice President Joe Biden announced the Defense Department's plan to temporarily expand its Homeowner's Assistance Program (HAP) especially for its service members who were forced to sell their homes at a loss as a result of the country's housing crisis.

Vice President Biden recognizes "the sacrifices military families make for our country - in terms of deployments, but also moving several times in their career." "They often don't get to choose when they move and may be forced to sell their homes when they don't want to. The Department of Defense (DoD), with funds from the Recovery Act, is expanding its program to help its military families who have been forced to sell their homes at a loss," Biden adds. With $555 million devoted to the expanded Housing Assistance Program, this project aims to help service members who were forced to relocate due to base closures or usual assignment rotations.

Although wounded servicemen relocating for treatment or medical retirement, Military and Defense Department civilian employees affected by BRAC, and those who will have to relocate due to change of station are given priority, all active and former members of the Army, Navy, Marine Corps, Air Force and Coast Guard, as well as DoD civilians who have sold a home since 2006 may also check their eligibility.

The Home Assistance Program provides assistance in four ways:

1. By reimbursing for a part of eligible applicants' loss from selling their home

2. By assisting, if the member doesn't have funds from the sale of his home to pay-off mortgage

3. By purchasing eligible servicemen's homes by paying off the mortgage

4. By helping if mortgage is on default.

To check if you are eligible to apply for the Expanded Pentagon Housing Assistance Program, visit the Homeowners Assistance Program Website to learn specific program criteria and eligibility.

Not eligible? No problem. The VA Loan Store is open to veterans who are keen on getting a home loan! The VA Loan Store was founded by veterans for veterans like you. So whether you need help in fixing your damaged credit, VA financing, applying for residential mortgage, we will try our best to assist you because here at the VA Loan Store, your satisfaction is our number one priority. We follow an easy five step solution to help you buy your VA home and we can guarantee to help you in every step of the way.

http://nobsvaloans.com/2009/05/homeowners-assistance-program/

Take Your Customer Service Dept From 'Cost Saving & Cost Reduction' To High Profit & Business Growth

The more communication I have with people involved in telephone service and sales, such as Contact/Call Centers and Customer Service Departments, the more amazed I become at the reluctance to create more sales and profit opportunities through better interaction with current customers, reactivation of lost accounts and new business acquisition.

Companies are forever seeking ways to cut costs and reduce staff - particularly so in Call/Contact Centers (turning so many into 'Call 'n' Wait' disaster zones) - they often fail to see what rewards they can achieve by using the following formula:

1 humble telephone + 1 skilled operator + 1 established sales system = HUGE PROFITS!

Here are twelve ideas that can dramatically improve your bottom line RESULTS build greater customer RELATIONSHIPS and earn you (a company of any size and industry) more REVENUE.

1. Build the loyalty of your current customers

A 'no brainer' right? Why is that so many customers cannot get through to you, when it suits them?

Why are you constantly offering free incentives and reduced prices to gain new business?

CRM is meant to be the new service elixir. Well it is worth nothing if you don't listen to your customers.

Here's an example - in the last six months or so, a metropolitan daily newspaper has offered ten-week subscriptions for $39.90 (I pay more and have subscribed for 20 years), contests (win wine if you subscribe, see a rock group in concert!) and give-aways to induce new subscribers. Me, I get some sort of special club membership with the odd discount or special offer. But hey, so do the new subscribers! Who's ahead?

2. Gain referrals from current customers

The cost of losing customers is almost incalculable. Add to that the people they tell about their bad experiences and the people they never refer to you.

Instead, offer your current customers a total strategy of satisfaction and benefits. Then, encourage them to tell others.

Don't reward these referred customers (but do give them total satisfaction and benefits). Do reward your current customer for their referral. Develop a system that will encourage customers to tell friends, family, their customers and associates about you and then say 'thank you' or offer them something of value for their efforts.

3. Add VALUE to every sale

Here is a really simple equation: If you give value - you get more sales.

That's it. If your people are trained to offer advice and information, educate customers, offer them creativity and innovation then your customers will buy more products and services, more often.

Even if your prices are slightly higher. This was the IBM way, back in the 60's and 70's with some great lessons to be learned. IBM charged the steepest prices in the industry but their service and support was legendary. The phrase 'no one ever got fired for buying IBM' originated way back then.

4. Turn an enquiry into a prospect

Then, turn that prospect into a customer. Then turn that customer into an advocate, one of your company's 'raving fans'.

All you need are trained people, a system and a monitoring and measuring plan. Simple? Yes it is, and like all things mentioned in this article, I will bet that some of your people excel at this and a number of them perform basic courtesies with callers - and that's it.

5. Create an upsell program

One becomes two. Two becomes four. Four becomes ... greater than the GDP of Argentina.

It is so simple, easy and effective and so few organisations employ this strategy. Many of your people don't do this because they think the additional cost will put the customer off. It doesn't. Not if the customer actually sees the benefit of greater quantity or improved quality.

6. Cross-sell at every opportunity

What can your people add on the original purchase? Extended warranty, on-site service, insurance, a savings if they purchase an additional item(s), a special offer or other options?

If everyone in your organisation upsold and cross-sold at every given opportunity, your sales would soar. I have witnessed increases of between 15-45% in companies where a simple upsell/cross-sell strategy was installed.

7. Negotiate on price

Don't just offer a discount or 'best price to you'. Let me reiterate, if you give value - you get more sales. Negotiate price. Train your people that by dropping price, they are giving away margin. So, if you offer a discount negotiate an upsell and/or cross sell. Package or bundle your offer to make it attractive and a genuine customer benefit.

8. Follow up

Every time your people give a quote, send a proposal or brochure out via fax, mail or e.mail, they should record a follow up timeframe.

Between one hour and three days. Everyone who requests information should be followed up by telephone. This leads to a higher close or conversion rate (I have witnessed 20-50%) or, if they have purchased elsewhere - your follow up call may be the commencement of a relationship ... or not. But you won't know if you don't follow up.

This rule should also be applied to complaint management. Most companies have no follow through with people who have complained.

9. Adopt a 'keep in touch' program

What can you do for your customers that will allow you to contact them on a planned, regular basis?

Special offers, new product or service introductions or ...? The best forms of 'keep in touch' are e.mail combined with a regular phone call.

But be warned - you should have a purpose for every call you make or email you send. Don't just bombard your customers (and prospects) with garbage.

10. Develop a systematic approach to lost customer reactivation

The longer you fail to make or maintain contact, the likelier you are to lose customers forever.

If you check the most recent contact vs previous contact frequency, you can detect a lost or about to be lost customer. Do something to regain their business.

This is the most costly part of your operation - the lost customer, the lost referral.

Do you have a lost customer reactivation plan?

11. Gain new customers

Why are there so few high quality telemarketing divisions in companies? Certainly, the 'T' word is considered dirty and grubby in some quarters and indeed it can be. However, where you have trained professionals, comprehensively developed objectives and strategies why wouldn't a well run telemarketing campaigns gain new business and new relationships for your organisation?

Quality telemarketing will generate leads, open up new business channels/market segments, build business with small, marginal and distance customers, give you real value (as a follow up) from exhibitions and seminars.

This is one of the most under utilised resources for business acquisition (and reactivation).

12. Develop and work your system

Success will come in all of the previously mentioned guidelines, tips and hints if you adopt a systematic approach. That is:

a) A sales and service oriented contact management system, based on a quality CRM package.

b) Well trained people who consistently add value to and gain value from every call they take or make.

c) Monitoring, Measuring and Reviewing each of the above and seeking continuous improvement both in contact management and people skills.

It is simple and what's more, it works. Use the power of the humble telephone (and quality people) wisely, and you will gain great RESULTS: Relationships and Revenue.

Kevin Cahalane, Sales & Service Momentum, is an international speaker, sales/customer service training professional and business strategy specialist. He is the publisher of popular e.zine ?S@SeMo? ? read by thousands of sales, service, marketing and training managers around the world.

Visit Kevin?s website today http://www.sasemo.com, subscribe to his free e.zine and receive the complimentary report: How to Continue Building Your Business ? Even When Times Get Tough.

Procedures For a Manager on Credit Repaired Dept Consolidation and Managing Employees

It is important to know how to properly manage the employees of a credit repair debt consolidation company. There are a number of key characteristics, core attitudes, and values that are an absolute necessity when it comes to properly managing employees.

If you work in a management position of a company that helps individuals repair their credit, and you offer debt consolidation to those individuals, it is important to ensure that you possess the ability to lead these employees in an effective manner.

Credit is a very important issue to your customers. When they deal with your company, they expect to deal with employees that are experts, as well as those that express empathy, and basic consideration to their needs. Your leadership skills can affect whether or not your customers get what they want, need, and deserve.

The first characteristic that you need is the ability to communicate and train effectively. You must be able to articulate what is expected in the company, your vision, as well as how everyone can work together to ensure that your customers get the service and professionalism that they expect.

When it comes to training, it is important that your employees know every aspect of the business, understand common credit complications, how credit repair debt consolidation works, and that they know how to properly communicate with their customers in a tactful, polite, and motivational manner. If you manage in such a way that communication and training is placed as a priority, your employees are sure to conduct the business that is required successfully!

The next step to properly managing employees in your credit repair debt consolidation company is to ensure that you work to create an atmosphere where the employees are comfortable in growing and simply thriving in their career. This will empower your employees in a positive and productive manner.

By conducting regular evaluations, highlighting success with your employees, and using motivational techniques that are popular among the best leaders of the nation, you can easily increase productivity by encouraging performance within your company.

You should encourage employees to provide honest opinions, allow them to work in areas that are properly suited for them as individuals, and allow them to give you feedback as a leader. All of these things, you will find, will prove to be extremely beneficial! If you use the steps listed here, your credit repair debt consolidation business is sure to be a success!

Daryl Plaza is a regular contributor to TakeChargeCreditRepair.com the informational and resource site to help you with all your credit repair.

Employees Referral Scheme

POLICY - EMPLOYEE REFERRAL SCHEME

General Employee referral scheme is being introduced with a view to involve all employees in recruitment process. The scheme is considered to be more economical, faster and cost effective as compared to traditional methods of resourcing through consultants, advertisements etc.

Objective To recruit manpower faster and economically through employee references.

Applicability This scheme shall be applicable to all the employees on permanent roll, project based and trainees across the company.

Process and Procedure:

• The entire manpower requirement will be notified company wide through the website, notice board and email in a prescribed format (Annexure -1) except in case of special manpower requirement that may be confidential in nature.

• Applications or resume shall be invited from the employees across the companies. Employees can also send CV of the candidates to Mr. V R Gopa kumar at Mumbai HO.

• Employee shall not refer any of their near relations (Like husband, wife, brother, sister, son, daughters etc) for the assigned post.

• It shall be prerogative of the HR Dept to scrutinize the profile and accept or reject profile, if it doesn't match to the job requirement/ position.

• HR Dept shall clearly record the name of the employee who has referred the candidate, along with date and other details.

• In case same candidate / profile are referred by two or more employees, the profile received first by the HR Dept shall be considered valid. It may be noted that the decision by the HR Dept / VP / Head - HR shall be final and binding and no questions whatsoever shall be entertained.

• The scheme shall not be applicable to employees posted to HR Department.

Not: the Annexure shall be given to the employees who wish to recommend their friend or relative. Therefore, kindly get in touch with human resources department to take a form.

Payment Procedure:

• Employee sponsoring a successful candidate shall be paid an amount of 30% of one month salary (CTC) of the new employee for each reference made and resulting into recruitment.

• The payment shall be effected only after three months of the candidate joining the Company.

• In case of the selected candidate leaving the organization with in three months of joining; no payment shall be made to the employee who had referred the candidate.

• The payment of incentive shall be made through the concerned employee's salary.

• In case of any dispute or issues, the decision of the VP / Head - HR shall be final and binding to all the parties.

Raminder Singh Sahota
Advisor (Legal, HR & Admin)
ITD-ITD CEM JV
New Delhi

The Perfect Consolidator of Multiple Debts

Life is all about dreams and expectations. As a mater of fact, our expectations would never end, till our last breathe. It is quite interesting to note, that being the fortunate souls of this high tech age, we have access to multiple alternatives to fulfil our dreams. Like for instance, if money is the main thing which is acting as a hurdle or a speed bump in our path of realising the dreams, then this problem can also be wiped of. Yes, you have read it right. In order, to possess enough money at our disposal and to meet all our expectations, one would no longer face any difficulty. Actually, this has been made possible by the availability of different kinds of loans. Quite interestingly, these days, you can find various types of loan such as home loans, pay day loans and personal loans etc., which would help you out to realise your dreams at a very fast pace. But, is it very easy and simple as the things look like? Actually a big 'no' would automatically follow this question. This is because, at times, during the process of realising our dreams and availing the loans, we forget to pay attention to the repayment part. Even if loans help us in some way or the other, we cannot ignore the fact, that the loan amount needs to be repaid within the specified period of time.

However, for instance, you have taken multiple loans and the burden of debts are harassing you? In such a situation, what would you prefer to do, to sacrifice your self-respect or to stand tall even in this situation? If you prefer the later option, then the debt consolidation loans would prove to be a perfect choice for you. This unique type of loan would permit you to settle all your debts without any hassle and that too with due respect and honour. There are numerous reasons for which you should opt for such a type of loan. The first reason is that you are failing to make the repayments of your multiple debts. The second reason is that, the debt consolidation loans are actually opted when people try to avoid any further contingencies which might crop up due to long lists of debts. The last reason would be your income-to-expenditure is not very impressive. The last point illustrates the fact that you are not a good manager as you don't have the idea to manage your money properly.

Actually, the sole concept of the dept consolidation loan is that, this type of loan efficiently consolidates all your multiple debts into one single loan. However, in this process you must reveal all your financial standings to your concerned company so that, it can understand your financial status at ease. As a matter of fact, after disclosing your financial standing, the financial expert of your preferred company would assist you to repay your multiple debts without any hassles. In fact, with the support of this type of loan you can repay all your debts at a one go and quite interestingly this loan would not come associated with high rates of interest. Most importantly, your financial expert would even try to negotiate with your lenders to lower down the rates of interest. Thus, act wisely and pay off your debts at ease.

Adam Daniel is a business writer specializing in finance and has written authoritative articles on the finance industry. He has been efficient in providing useful information about dept consolidation.

For your Information (FYI) - Bankruptcy

People view bankruptcy as a wake up call and well they should because that means they hit the bottom of the barrel and are now scratching the bottom - for more cash! If you believe misery loves company be secure in the knowledge that there are at least 1.5 million people in there with you, that's how many filed for bankruptcy in the last year. Anyone can over-extend themselves and many do for more reasons than I could count.

Filing for bankruptcy is not only used by the lower and middle class but the rich as well. Famous people have fallen into the hole and climbed out, people like:

Donald Trump, Filed in 1990 - Kim Basinger, in 1993 - Burt Reynolds, in 1996 Rembrandt, in 1656. I am not sure about the last one; he may still be trying to dig his way out!

In the old days they would send people to debtors prison or even put them to death (not in America though), treating them like criminals. In these more civilized times the government not only banned this kind of barbaric action but made into law rules to protect us.

The bankruptcy code, also known by title 2 of the United States code (11 U.S.C.,101-1330), has been put into place to protect the rights of the individual and corporations, giving them a fighting chance against dept collectors, bankruptcy courts having the final word. There are basically two kinds of dept, secured an unsecured. Secured is where the creditor has some kind of collateral, be it your car, boat, house, or any material thing of value that they can take possession of if the dept is not paid. Unsecured is simply just the opposite, where the creditor has no collateral at all. In this case if the dept is not paid all they can do is use a collection agency where they call you day and night. Also you have to watch out with an unsecured dept because if the balance is large enough the creditor can put a lean on your property by getting a court order. This will prevent anyone from selling their house and moving away in an attempt to hide from creditors.

If you or anyone you know is behind on payments there is something they should know. Since 1997 the government stepped in to stop dept collectors and collection agencies from harassing and threatening people in the middle of the night and using unethical collection practices. The Fair Dept Collection Practices Act (FDCPA) makes collections agencies follow certain guidelines. These are things collectors must do:

*Stop contacting you if the request is in writing and you dispute the dept in writing.

*Within 5 days of there first contact they must send you a letter stating the outstanding dept and creditor.

*If you want to dispute all or part of the dept the collection agency must stop contacting you until the creditor responds to your inquiry.

*If the collection agency wants to take you to court for the dept owed on behalf of the creditor it should summon you to the county where you now live or where you first singed the contract.

Now, don't be alarmed just because a creditor threatens to sue you because most times it is just meant to scare people into paying on depts.

Under the act (FDCPA) there are many things collection agencies can't do, some of which are:

*No calling you at work

*Indicating they may be working with the federal government

*No calling your friends or family

*Implying that you may go to jail, garnish your paychecks unless the dept holder plans to do it

Our government, in its infinite wisdom reasoned a long time ago that if they send everyone to jail there is zero change of collecting on any dept on behalf of a creditor. You probably have heard of someone that has had there wages garnished, that is creditors who get a court order to take a piece of their check until the dept is paid. This is a common practice in states that allow wage garnishment and there is little you can do about it except for contacting an attorney. Did you know if you have an unpaid school loan or owe the IRS they don't even need a court order to garnish wages, even in states that normally don't allow this? You can bet on it, they can also take your tax refunds!

As for personal property, in cases like a store dept (store credit card, personal check or payment plan) on an item like major appliances or furniture you may have bought they still need a court order to take it back, unless you let them in anyway. That's right! If you let them in without a court order they can come and get it back! Many times if is just not worth it for them to re-possess items because they have to go the process of getting a court order and pay someone to carry it out. Also it may be harder to sell a used item that may be stained or damaged. One final word on this point, remember on secured loans and cars there is a definite risk of repossession if the loan (mortgage or car finance) is not paid. There is usually too much money involved here for creditors to loose so these payments should be on top of your 'to pay' list!

If you find collectors are not playing by the rules you should call an attorney or the Federal Trade Commission's response center at 1-877-382-4357 (FTC-HELP)

You can check out FDCPS's website at
www.ftc.gov/os/statutes/fdcpa/dcpact.htm for more info.

Robert is the owner and operator of this website: [http://www.newmortgagefinance.com] and a true fanatic of learning and sharing 'how to' material and info. If you love anything 'do it yourself'’ you should visit this website and [http://www.fileanddatarecovery.com].

Information On Cholesterol - An In-Dept Health Guide

Ever wondered about how many more health risks there are nowadays than there were in the past? Well, the plain and simple truth is, there are. Today, particularly people from across the world grapple with various heath afflictions. From heart disease, Cancer, to fatal STDs; it just seems like there is no end to the dismal list. One of the greatest health issues these days concerns what we consume. Yeah that's right, it's our diet, folks! What are you shoveling into your temple? While it depends on your nutritional habits, you could be doing some major damage to your body. Now, tell me who doesn't know that fats, and sugars are bad for us, however we continue to gulp them down like there's no tomorrow. And it definitely shows in our current society. A huge portion of America is overweight. Wake up folks; it's time to make some changes. It's definitely time to get informed. The Internet is your ally. Explore into cyberspace right now and get information on cholesterol and fat. Find out more information about one of the prime killers of Americans.

Did you know at the present time that heart disease is one of the main causes of death? Yes, it's true; people across the country are becoming victims as we speak. A major concern is what they're eating. Are you aware of the right information on cholesterol and unsaturated fat?

These heart-stoppers should be taken more seriously. In fact lots of individuals don't even know how the whole process works. Well, let me summarize it for you. To begin with your heart is your body's engine. It pumps blood throughout your entire frame. When you start to consume foods that are high in fat and cholesterol, you're basically infusing this stuff into your bloodstream. Then the blood has to flow back through the heart. On the other hand, the fat and cholesterol begins to clog the arteries. Now, for sure no one wants this to happen. For the reason that if your heart cannot pump the blood properly, you may not live. Unfortunately today this is the main reason why there are so many heart related deaths. People evidently and simply need more information on cholesterol and fat. It's very important to understand what it does to the heart.

The Internet is a wonderful place to turn for information on cholesterol and heart problems that come form high cholesterol. Knowledge is the key to avoiding heart disease and other health afflictions. You have to know and understand what something is and then learn how to prevent it.

John Wellington provides readers with up-to-date commentaries, articles, and reviews for health [http://www.HEALTHCARE-KNOWLEDGE.COM], wellness [http://www.BODY-MIND-WHOLENESS.COM] as well as other related information.