Monthly Archives: October 2015

Insurance Brokers

Marketing yourself and deciding how to advertise your business can be a daunting task. There are so many avenues available to brokers. Insurance is something everyone needs from infant to ancient. Brokers need to be well versed in as many areas of insurance as they can. Life, auto, home, health and disability are just a few. How is a broker supposed to get the word out that he is in business? Everyone familiar with sales knows the phrase ‘circle of influence’ or your ‘warm market’. These terms refer to the people you know best, your friends, family and colleagues. Let them go to work for you with referrals and word of mouth advertising. Take the top ten from your list and offer gift certificates for every person they refer that you write a policy for. It’s a nice way to say thank you and show how much you appreciate their loyalty.

Check out other brokers and their websites, advertising efforts and community involvement. Take their best secrets and tweak them to fit you and your way of doing business. Don’t discount becoming involved with your community. When you are out there working for the common good the common good is coming to you for their insurance needs.

Try and think back to the first time you purchased insurance from a broker. You can make a niche for yourself by going after the newest drivers, homeowners and start up businesses. Share your wealth of knowledge with them and they will remain loyal customers for all their insurance requirements.

What Do Lenders Gain?

With the rising of the consumers spending power and with more debts being taken to repay their old one.the question should be what does the lender not gain? But the fact is that everything is not easy for the lender. With the increase in the acts and regulation passed to hold the lender community in check and with a watch over the ceiling of the interest rates, the lenders are in more trouble than we know. The time consumed in processing the debt and the cost involved in recovering the same is a matter to consider.

Of the two types of lenders i.e. the banking community and the private lenders. It is the private lender who is at more risk; this is because most of the private lenders offer credit without actually looking into the credit worthiness of an individual. But to safeguard themselves against such circumstances the lenders charge high rate of interest and ask for security in the form of property or house. The lenders in order to safeguard themselves against various vagaries have formed communities and the interest fixed by them is uniform among all, though there might be some exception. Be it educational loan, car loan or house loan, it is the lender who is at risk. The highest amount of debt taken is for home loan category. It is found that the lenders gain with refinancing. Refinancing is nothing but paying off existing debts and taking a new one. Refinancing is on the increase because of lower interest rates, the lenders gain by the amount of refinancing loans that are applied. It is to safeguard against the various risk that the lenders drawn an agreement between the borrower and themselves.

Another method that the lenders have adopted in order to increase the speed of processing the loan and to alert them on any discrepancies is the LEAP system, LEAP is Lenders Easy Access Program where all the details of a borrower are keyed and the processing of the borrowers application is done at a faster pace allowing the borrowers to get the amount at a quicker period of time and helps the lender by reducing the time and the cost involved in processing of documents.

Therefore the risk faced by a lender while lending money, are many. The only way to safeguard them is to abide by the rules set forth by the banking community and adopt honest and transparent method of lending.

Getting Out Of Debt As Quickly As Possible

One of the most important things you can think of is how to get out of debt as soon as possible, especially if your debt is significant.

This incredible important task can seem very mighty, but if you take certain appropriate steps, it can be easier than it seems. For instance, I am now almost out of debt compared to what my situation was just a decade ago.

You would be shocked if you knew what my situation was before I paid off my debt in full.

Like many people, I got my first credit card while still in the college. If you don’t know, this is the worse time in the world to get a credit card.

At such time you would get into debt with the vain hope that you would easily get out of debt in the future.

The idea that you would easily get a good paying and great job after graduation makes matters worse.

For me, the credit cards kept coming while in college. They were handy to a poor college student like me. There was one time when I took a very hefty cash advance for the purpose of paying tuition.

It was a very good idea to me, back then. I was also able to afford all the newest fashions and other accessories on credit. To me, there wasn’t anything to worry about as I would get out of debt with ease as soon as I entered the labor market.

How wrong I was!

After college, the great job I was dreamed of was more elusive than ever. By the time I started work I had a high stack of unpaid bills.

In my mid-twenties I knew that I had to get out of debt fast or crash under the load of debt. Sadly, there wasn’t any way for me to get out of debt. I didn’t spend the money overnight, so how on earth did I expect to get the money to pay it off overnight?

Eventually I found the steps which I took to get out of debt. You can follow these steps too and it won’t take you as long as you think.

The first thing you need to do is for you to take action. Don’t continue to wait for one more year or one more month before you start on your plan to get out of debt.

Decide, then make a plan. Don’t let your old habits get in the way.

First, pay off the credit cards that have the highest interest rates. Never allow the months to pile up before paying the minimum. If you do, it would take you decades before you can pay off the high interests on the credit cards.

Also, make a list of all those you owe. Then make your plan of repaying them. Many creditors would be willing to take a payoff which is less than your balance.

And of course – stop using your credit cards while trying to get out of debt. Follow these steps and they will help you get out of debt faster than you can ever imagine.