Debt Review Exercise

Posted by on May 7th, 2012 | Comments off

Debt review is also known as debt counseling in the market place. This is part of the debt consolidation process where all debts of a consumer are put together as one lump sum to be settled for the consumer’s creditors.

A debt review is not a loan. It is a National Credit Act process with some criteria set for processing; these include an appointment of a debt counselor to the debtor for a debt consolidation process.

Role of debt counselor

The debt counsellor would advise the consumer on the required processes and procedures to be undertaken such as informing the consumer’s creditors of the consumer’s preference for a debt consolidation option. This would prevent the creditors from harassing the consumer for further payment until the agreed settlement is reached.

The debt review procedure does not allow the creditor to take further legal action against the consumer unless a prior summons was issued.

The counsellor handling the review case would assess the consumer’s debt size. If the consumer is heavily in debt where there is no excess income to pay off the creditors, the counsellor working on behalf of the consumer would make the necessary recommendation of a consolidation.

A debt review exercise would involve the consumer’s creditors to liaise with the debt counsellor on all official monetary matters of the consumer such as the amount owed and duration of payment.

It is the responsibility of the debt counsellor to draw up the most conducive payment schedule on behalf of the consumer for every creditor. The review considers the amount the consumer can afford to pay the creditors after deducting the monthly expenses.

Creditors’ response

In a debt review exercise, the consumer’s creditors may choose to accept or reject the counselor’s offer of repayment. Creditors are allowed to make a counter-proposal of the balance to be repaid. Such negotiations are common in a review exercise.

If the consumer’s creditors do not accept the proposed repayment amount, creditors may consider more serious actions on the consumer such as requesting the Court on Affidavit to make a possibly better debt repayment recommendation.

However, that alternative may be longer and more tedious for the creditors to collect the debt from the debtor. Hence, most creditors would accept the review offer and let the appointed debt counsellor handle all the necessary legal and tedious procedures as creditors wait patiently for the return of their money.

Debt consolidation may be a viable option for many people who feel they need help clearing their debt counselling. It’s combining your payments into one monthly amount could seem appealing. Get started by contacting us for debt counselling by check debt review.

Hispanic Franchise Business Opportunities

Posted by on May 7th, 2012 | Comments off

Starting any new business involves a huge amount of planning, finances, collection of resources and much more. One of the best options in such cases is to opt in for a franchise model of an established business. This gives the small entrepreneur a ready and complete outline of the business, including initiating plans and possible opportunities for further growth and expansion. The financial investments are of much more manageable proportions. A big chunk of the members of minority communities, particularly the Hispanic or Latino population, are involved in franchise businesses. The Franchised Business Ownership survey conducted in 2007 by the International Franchise Association’s (IFA) Educational Foundation, states that ownership by minorities contributes to 19.3 percent of all franchisees, and Hispanic business franchises account for 5.8 percent of the overall segment.

The advantages of Hispanic franchise business opportunities are immense for both the communities and the business corporate. One of the biggest benefits is that it creates job opportunities within the community. A Latino business franchise owner opening up a business outlet in his own neighborhood helps to open up jobs for the members of his community living in that area. Unemployment rates go down so does the propensity towards crime and misdemeanor. Gainful employment gives the community a more positive outlook. According to the Small Business Administration, franchise models generate approximately 300,000 jobs every year.

Hispanic business franchise channels contribute greatly towards expansion of the society. These franchise owners have now been able to infiltrate the urban business areas which were lacking in minority business population. Many big chain restaurants and convenience stores are now offering special funding for Latino business owners, and working directly with minority associations to employ additional businessmen from these communities, thus helping the society grow.

Franchise businesses run by people from the Latino community helps to expand cultural reach. The parent companies are able to reach out and tap the massive potential of involving Latino business owners into their fold and in turn reap the benefits of the huge number of prospective customers from those communities. Chains such as Burger King, Dominos Pizza and McDonald’s have chalked out various business plans and marketing campaigns to attract and rope in Hispanic business owners. Programs such as ‘Real People, Real Success’, devised by Burger King or ‘Delivering the Dream’ ad campaign planned by Dominos Pizza, are aimed at members of the Latino and other minority communities. These campaigns and programs help prospective businessmen achieve their dreams of owning a business and outline the involvement of other Hispanic franchise owners and employees to amplify the diversity among the franchise business owners. Products and food items, specifically created by the parent firms for these communities provide a great opportunity to attract the consumers from this area and meet their needs.

Franchise business models act as a way for Hispanic business owners towards improving their lifestyles and achieving their goals in life. The ready business blueprints serve as a guide for establishing and running a business successfully. The entire family can also be involved in the operations, thus appeasing the family oriented Latino community.

Jose Torres is Principal Partner and Founder of BuscaTuFranquicia.com & Franchise4Hispanics.com, the first and only Spanish & English language online market places for aspiring Hispanic entrepreneurs looking for business opportunities and Franchise Companies looking to tap into this community. Jose is also a franchise advisor and consultant and has over 20 years of general business management, marketing and sales experience in the consumer goods and franchise services industry.

From Newspaper to Internet

Posted by on May 7th, 2012 | Comments off

News media has evolved a great deal, from newspaper to television, and from television to Internet. Online media has played a large role in taking the news to much wider audience. Business media caters to a section of the society that is interested in this kind of news.

News, as some believe, tells what’s happening NEW and the NEWS word is just the plural of it. However, as per folk etymology, the word NEWS stands for all the four directions – North, East, West and South. In any case it tells us an update of what’s going on.

There was no proper media for news until the 17th century, when the newspapers came into being. The typesetting technology fostered the beginning of newspapers. Before that, it were the couriers who circulated the news. With time the new media kept on evolving. In 20th century, Business News emerged as a distinct stream of news.

The technology has evolved a great deal and so has the media for news, from Paper to Television, and from Television to Internet, more advances have come in the late 20th century than the rest of the history. With the advent of Internet, News has made its reach much wider.

Business news, as the name tells, is all about the business and commerce. Today, there are dedicated news channels, newspapers, magazines and digital media groups. This section of media caters to a section of the society that is interested in this kind of news.

With business news one can get

Updates about the Stock Market: There was a time when people lost a lot of their money in stock market through ignorance and carelessness. Now, with the stream of stock market news and experts’ advice on disposal, there is little chance that an updater investor would lose his/her money. News channels keep giving the updates about the trends in stock market. There are interviews with people who know as well about the markets as the back of their hands. This helps the medium and the small investor to minimize the risk while putting in their hard earned money. One also can check how particular stocks stand in the market and get instant expert advice by contacting the experts.

Information About Corporate World: These news networks keep a full coverage to what’s going on in the corporate world. They keep track of all mergers and takeovers and keep interested people informed. As the goings on in the corporate world have bearing on the stock market, it is important for the people to keep themselves updated about the corporate sector.

Budget Analysis: The budget gives an idea about the government policies regarding industry. This is the reason people are interested in knowing about the government’s outlook regarding various industries and budget gives enough indication. Hence, whenever the government announces the budget, there is full coverage on the TV, with complete analysis. Reactions from the common citizens are also accommodated in the budget. News channels simplify the budget report so that a common man can also understand what the budget aims for and what impact it would have on the industry.

Product/Service Reviews: Business news media provides the product/service reviews which tell us about particular products or services and advice whether they should be bought or not. These programs are very useful for the people who have little or no knowledge about new gadgets and services. More aware is the consumer, better is the service.

Business news media plays an important role in keeping the public updated about the world of business and commerce. Business news channel are usually region specific. One can easily find region information on the Internet, like Australian business news.

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