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St. Louis, MO (PRWEB) January 22, 2015
Opening up a new credit card that charges zero interest sounds like it’s too good to be true.
That’s because it usually is — especially if the card user had been hoping to use these credit cards to help pay off debts.
According to the Washington Post (1/8/2015), these zero-interest credit cards, which have become more numerous in recent months, allow consumers to transfer their other higher-interest credit card balances to a new account. What many consumers don’t realize, however, is the limited amount of time they have to do so. Some 0% interest credit cards give consumers about 90 days to transfer their debts — while others only give 30 days.
As a result, people unaware of their new card’s transfer deadline can end up losing the chance to take advantage of this offer, and miss out on relief from high interest rates that have crippled many individuals’ personal finances.
In addition, many consumers who open up a zero-interest credit card with hopes of using it to repay their debts might be in for a surprise, according to Charles Huber, Principal at the Law Office of Charles Huber.
“If things are out of hand, it is just delaying the inevitable,” Huber, a Chapter 7 and Chapter 13 bankruptcy attorney, says. “In such a case, if you end up filing bankruptcy anyway a short time later, the company to which you transferred the balance may claim they are a victim of fraud, because you paid off the old balance and left them with a large balance you are trying to wipe out in the bankruptcy.”
Because of this, Huber says it’s important for individuals for whom a bankruptcy filing might be inevitable to avoid these zero-interest credit cards entirely.
“It seems like these cards would only help people pay off a manageable amount of debt,” he says. “If things are out of hand, it is just delaying the inevitable. The 0% interest rate is to entice you. Later on, the interest rate will go up, and there may be fees that were not expected.”
Ultimately, bankruptcy is the only guaranteed way an individual can pull him or herself out of overwhelming debt and get a clean financial slate.
“Bankruptcy is the cheapest and surest way to get out of debt and get a fresh start,” Huber says. “There is no minimum amount of debt you need to have. Most people know if they can dig out of debt on their own, or if they should file bankruptcy. The important thing is to be honest and objective, and leave emotions out of the decision.”
About the Law Office of Charles Huber:
The Law Office of Charles Huber is a St. Ann, Missouri based private law practice that provides legal services to clients with bankruptcy and traffic issues. Charles H. Huber is a member of the Missouri State Bar Association and has been practicing law for 30 years. For more information on the Law Office of Charles Huber, visit http://charleshuberlaw.com.
Chardon, Ohio (PRWEB) December 16, 2014
e2b teknologies, publishers of the popular Anytime Collect accounts receivable management software, announced a partnership today with author and industry expert Michelle Dunn to provide businesses with a comprehensive resource kit to help them implement best practices for accounts receivable credit and collections.
“Michelle Dunn is simply an amazing woman,” said e2b teknologies President Lynne Henslee. “We’re excited to offer her collection letter templates and call scripts for our customers along with personalized consulting services so that she can work with our customers to adapt her proven methodologies to their specific business needs.”
Embedded within Anytime Collect, the Dunn Collecting resource kit includes pre-defined collection letter templates and call scripts based on Dunn’s award-winning business books and decades of experience working with companies across a variety of industries. It also includes a library of pre-recorded videos, and two hours of one-on-one consulting with Dunn to tailor her best practices to specific business requirements.
“Our partnership with Anytime Collect provides a software platform to help organize credit and collections activities with direct access to the dunning letter and collection templates and call scripts that I’ve been sharing with businesses for years,” said Michelle Dunn. “I couldn’t be happier with the partnership and look forward to helping Anytime Collect customers to implement best practices within the context of the Anytime Collect system to gain new efficiencies. It’s truly a fantastic partnership that will help our mutual customers to maximize their investment with a tremendous return on investment.”
Dunn Collecting is available for new and existing customers of Anytime Collect as an optional module to extend their accounts receivable management software. More information is available on the Anytime Collect website.
About Michelle Dunn
Michelle Dunn is the nation’s top expert on credit and debt collection. She has many published books on the subject and over 24 years of experience in the industry. She has written the first textbook on credit and collections for colleges across the nation who have added credit and collections to their curriculum. Michelle started M.A.D. Collection Agency in January 1998 and ran it successfully before selling it 8 years later to write full time. Michelle has been featured in major media outlets and provides accounts receivable consulting services to businesses.
About Anytime Collect
Anytime Collect, published by e2b teknologies (e2btek.com) , is a leading cloud-based accounts receivables management system integrated to leading ERP accounting systems including Intuit QuickBooks, Epicor, Sage ERP, Microsoft Dynamics, and others. Anytime Collect is designed specifically for businesses selling to other businesses on credit terms as opposed to other software designed for credit agencies or business to consumer credit and collections.
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“A Key man policy is almost like a life insurance policy for a business, and will provide a fixed lump sum of compensation to cover anything from having to recruit a new member of staff to covering loss of profits if important projects are delayed or cancelled. Even the costs of having to pay out or alter agreements where the person is a guarantor for business loans or baking facilities are covered.”
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