How To Put An End To Collection Calls And Eliminate Unsecured Debt
Recent statistics show that the recession is hitting people from all walks of life. The economic crunch is being felt by people in a severe dramatic fashion. There has been nearly a forty five percent increase in foreclosures and the unemployment rate is at a all time record high.
Many employers are skeptical at some of the financial forecasts that has been given by some of the leading financial experts. Employers are downsizing and phasing out many of their departments in order to stay solvent. This move has lead to thousands of people losing their homes and filing for bankruptcy. Many are seeking debt relief from their creditors.
Are you looking for a way to clear your debt? Are you currently dealing with annoying calls from aggressive debt collectors? Let’s look at two pointers that can help you eliminate unsecured debt and stop debt collectors in their tracks.
Cease And Desist Letter
A cease and desist letter is a powerful weapon that gives people the power to neutralize debt collectors. A creditor will normally enlist the help of a debt collector to collect the outstanding
balance that is due on an account. In return, the collector will receive a percentage of the amount collected. This is percentage or commission is rendered to the collector for their efforts.
You can eliminate the debt collector from the picture by sending them a cease and desist letter. This letter will put a halt to their intentions and efforts. The letter confirms your interest in working solely with the original creditor. Make certain that you send the letter via certified mail with return receipt. This step is taken in order for you to have proof of you sending the letter to the collector. The collector will normally cease in their efforts of collection.
Negotiate
Creditors hate dealing with people that are not willing to address unsecured debts. They love dealing with those that are willing to talk with them and work out solution. A payment plan is a reasonable method of resolving any debts that you have with creditor. You may even be able to reduce the original amount of money that you owe. Creditors are known to reduce the principal amount anywhere from twenty to fifty percent. Don’t be afraid to negotiate and bargain!
Getting debt relief is not as difficult as some may think. Following the two pointers listed above can help you clear your debts in a reasonable amount of time. Start getting control of your financial obligations today!
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Student Medical Insurance is Your Friend Abroad
Student Medical Insurance And You
The world is a much smaller place these days and this is reflected by the number of youngsters pursuing higher studies abroad. The primary reason is the popular belief that foreign universities and institutes have better standards of education than Indian organisations. In fact, the majority of parents try to provide higher education abroad to their children regardless of the hefty fees and accommodations costs that they have to foot.
If you have decided to educate your child abroad then you need to take into account the fact that your child will be living and studying alone in a completely different country with a vastly different culture. Understanding and appreciating this fact does not mean that you cancel the whole plan. Instead, you should protect the interests of your child and, indeed your own, by buying a student medical insurance policy for your child.
The most potent problem that any child will face when he is based abroad is cash crunch. The problem of cash crunch arises out of the expensive standard of living that most developed countries have and the child’s judgment of finances. Moreover, nervous breakdowns and psychological disorders become especially common place when a student is expected to handle such immense pressures of living alone and higher studies, simultaneously. Such problems can be averted with the help of a student medical insurance policy that can provide the child with a safety net against the financial implications of some form of a medical emergency, whether physical or psychological.
The cost of using the medical infrastructure of most education destinations preferred by Indian students is much higher than the costs of the same in India. Hence, if your child falls sick or gets injured due to some form of accident or disease, the amount that you will have to pay for his medical treatment holds the potential of single-handedly setting back your financial stability by years. Hence, buying student medical insurance for your child not only ensures that he gets appropriate medical attention but also results in you saving a lot of money.
In addition to the above mentioned benefits, there some other benefits to having a student medical insurance policy as well. One benefit of a student medical insurance policy that you, like the majority of Indian parents, will appreciate is the clause of compassionate visit. A student medical insurance policy will allow one parent to travel to and from the country where the child is hospitalised.
Tags: insurance, medical, money, student, treatmentRelated posts
Buying Term Life Insurance With No Medical Required
Some people don’t understand how you can buy term life insurance with no medical required. They are under this illusion that in order to issue such policies the premiums have to be higher than the norm.
They may be in some cases but the policies that really sell have very competitive premiums. In these cases the average premium is much lower than comparable term policies. How can the insurance companies do this.
The answer is really simple, the underwriting is real tough. After you go through their underwriting process you realize that if you had seen an agent you would have a better chance of being approved. Let us look at buying online without a medical compared to having an agent visit with you.
Buying Life Insurance The Traditional Way
The licensed agent calls you and sets up an appointment. If he knows what he is doing he asks you a lot of questions in order to get a feel of what your needs are. He illustrates the rates and the amount of coverage then gets to the application.
If there is any medical problem indicated he probes a little more so that he can give the underwriter as much information as possible in his report. The underwriters know their agents, they know which ones they can depend on.
The agent completes the non medical form if called for or sets up an appointment with an examiner, whether it be a doctor or paramedic or a nurse.
Because of the face to face interview the agent has sufficient information to discuss the case with the underwriters. After the medical is done more information may be uncovered. In some cases this is a positive and in others it is a negative.
More often than not a policy is issued even if a rated one. A small percentage is declined.
Buying Non Medical Policies Online
As I indicated before the underwriting is tough. The online companies are not equipped to do get the reports that the agent would get. Even if they asked for an attending physicians report it may take so long the applicant may have changed his mind by then or bought elsewhere.
The online carriers depend on the MIB, Medical Information Bureau, but this information may be inaccurate. This could result in a policy being declined or one being issued that shouldn’t be issued.
They also depend on a Pharmacy Report which may cause the applicant to be declined. They may have had a temporary health problem and used the type of medication that may be used for other more serious conditions.
Here is an example. I know someone who had unceasing hiccups for about 2 weeks. The medication described was one that is commonly used for people with mental conditions. The online underwriters would assume that this person has had a mental problem.
They would be dead wrong but the policy would be declined based on their incorrect assumption. Online carriers don’t rate policies, they either issue them in the category they think you may fall in or they decline the policy.
Another problem that buying term life insurance with no medical online may expose you to is if you feel you want to replace a policy you now own. A yes to the replacement question will also get your policy turned down simply because online carriers don’t provide the forms required by the state for such a transaction.
Buying term life insurance with no medical online may be the simple way to go but many perfectly qualified people are being turned down as this fairly new process develops. I look forward to the day when most applications are completed online even if the applicant has to do a complete medical thereafter.
Tags: insurance, medical, term life insurance