Some Debt Consolidation Myths Busted For You

While debt consolidation is a safe and secure way to take care of uncontrolled debts, many people are wary of going for this option. Here we take a look at some of the myths and how these don’t stand true if the process is rightly handled.

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  • Debt consolidation is nothing but bankruptcy, debt settlement and debt management- This is partially true because though some of the terms in all these methods are more or less the same. However, there are also some major differences in each of these approaches. Debt consolidation is more like a strategy to adopt and not some software program that can be technically done.
  • Debt consolidation will help in debt reduction- This is not true as this approach does not mean writing off, settling or negotiating a less amount as the debt payment.
  • Debt consolidation affects credit ratings- This is true to a great extent but if it is done in a planned and organize way, there can be negligible to zero blow to your credit ratings.
  • Debt consolidation means coordinating with a lawyer or a third-party agency- Though some counselors and firms will assist you with debt consolidation and its different approaches, you can always do the whole procedure by yourself if you do not want to depend on a third party. Indeed, if you wish to do it all by yourself, you should be armed with sufficient information about the whole process and different options.
  • It only helps bankrupt individuals and those who are in a financial mess – This is one of the most bizarre myths surrounding debt consolidation. Re-structuring and re-arranging outstanding debts in a favorable way is an option considered by even the richest business men of all times.
  • It means simply paying money to one creditor and taking a loan from another- Debt consolidation is a secured way to eliminate uncontrolled debts but opting for a feasible loan. Not all of the debts are the same. Debt consolidation agencies negotiate with loan providers to bring down the rate of interest so the principal amount will always be the same but you will be paying a lot less interest on the same amount.
  • For debt consolidation, you should have a house of your own- This is also one of those myths that hold no truth at all. Indeed, if you own a house, it is always going to be of major advantage if you are in the process of re-organizing your debt. This is irrespective of whether you have paid wholly for the house or hold equity.
  • Debt consolidation means having a hard time for loans in future- In majority of the cases, it is highly rare but someone from the forensics or credit rating verification agencies will come to know that you have used debt consolidation tool in the past. The facts will be visible only if the debt consolidation firm has noted down all procedures on paper and recorded in their systems.

Click here to understand the do’s and don’ts of debt consolidation.

Get Credit Worthy Again by Selecting a Debt Consolidation Program

Till the time, you have debt lead spending; there will always be a demand for debt consolidation schemes. Preferably, how can you manage your debt efficiently? All you got to do is have a good record of your credits and make payments on time. Though it is easier to say than do! Often people fail in one of both of it. But debt consolidation program are definitely of great help to the debtors.

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Define debt consolidation

Debt consolidation isn’t a difficult word to understand, it simply means consolidating all your debts into a single one. Yes, you don’t need to bother a lot about payments and remember the dates of every payout. Just select a debt consolidation program and resist from getting those humiliating reminders from lending companies. You have amazing number of companies and programs to select from. But ensure that you select the best consolidation program, and the one which suits you in every way. Select an interest rate and repayment tenure which matches your personal fiscal situation.

The procedure of debt consolidation loan

If you’re really feeling nervous about selecting a debt consolidation program, then don’t be. Selecting the right debt consolidation company eases your effort in every way. It guides you through an easy procedure. The expert credit counselor of the company will perform all the required documentation and evaluate your fiscal status. Once it is done, they will help you select an apt loan program. It is very crucial to be open and frank about your revenue and expenses, to find out the best debt consolidation program for yourself.

Once you get the acceptance of the loan, ensure that you meet your commitments and repay the installments promptly on time. Once you’re regular in your payouts, you can regain your credit score. Some of the debt consolidation agencies even speak to your creditors and collection agencies and convince them for a lower interest rate. Know more about best debt consolidation loans online and makes things easy for you.

Debt consolidation program

For the people of United States, debt consolidation has become quite an acceptable option. Whether it is a home loan, credit card or student loan, a debt consolidation loan can be customized as per your needs and preference. Debt consolidation leads to smaller monthly payouts, diversified over a long period of time. But always remember, it does have a price. You will have to pay out all you owe, but surely at a convenient rate. The debt consolidation programs are available in abundance,check online to find one for you. All you need to do is look out for the best and you’re good to go.

Before finalizing, make sure you go for a deep study in interest rates and terms and conditions. Options are in abundance, if you go for a secured debt consolidation loan. Greater sum, higher repayment tenure, variable or fixed rate of interest are some of the advantages that you can avail while opting for a debt consolidation scheme. It is a fair chance to people with poor credit history to wipe out their past and enjoy a fair chance of earning a good credit score.

Is Debt Consolidation the Only Solution For You?

When you are faced with a large debt and no immediate respite, debt consolidation may be the only solution at home. However, it is equally important to choose the right program to avoid any further losses. They are designed to lessen financial burdens given the fact that the borrower shows some restraint in spending.

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Many people wonder whether debt consolidation is really a solution. Before proceeding with any program, always keep in mind that the lesser the payment amount every month, the lengthier the duration will be during which you will be stuck in the vicious cycle and keep paying off those installments. The lesser the amount you have decided to pay each month post an acknowledged debt consolidation, the more interest amount it is going to lead to once the loan ends and the compounded interest keeps growing over the outstanding balance.

If you delay paying today something which you can pay tomorrow, you are only increasing the total amount you have to pay off in future. Borrowers should be wise enough to understand this logic as no lender will explain this. Consolidation agencies’ wages primarily come from interest amount accumulation and they usually try to exploit the borrower’s idea that he/she will give up their binge spending and ensure they start saving immediately so that this helps them in repaying the loan amount ahead of the expected time of repayment.

Though it is extremely difficult to give up one’s spending habits that one has developed over the years, borrowers should also some restraint and start saving seriously so as to make the debt repayments on time and not just stick to paying the minimum amount that has been decided by the creditor. Though the borrower would want to direct all liquid funds for eliminating debt, the wise one would always keep some cash by the side in an event of a financial emergency.

No borrower should lenders completely. Keep in mind that mortgage loan firms and credit card providers are relying on the borrower’s decision to delay payments and keep them extending for the longest time. The fact also remains that each lender will portray every borrower’s outstanding balance as a profitable asset which can be traded or sold off to other money loans.

Irrespective of what the agency representatives say or what the lenders’ text says regarding guiding borrowers to help mitigate debt amount, business framework of lenders is highly dependent on maintaining a continuous debt wheel that somehow pushes the borrower into a vicious loop of financial sorrow and burden. Clickhere to know how you can avoid being trapped into it.

When it comes to credit rating, FICO would always want to see some credit card accounts of the borrower active as this validates their credit feasibility. Closing off all credit card accounts is not a good idea since once has to begin from the start and it is always a tough task to build a robust credit rating from scratch. In an ideal situation, it is always best to carry on with one or may two oldest card accounts or choose those accounts that have the highest balance.

An Effective Brain-Boosting Supplement

A compound synthetically derived from the leaves of the periwinkle or Vinca minor plant, Vinpocetine was developed in Europe in the mid 2000 initially studied for the treatment of cerebrovascular disorders. Classified as an effective vasodilator it enhances blood flow to the cerebrum dilating the blood vessels and improving oxygen utilisation. Various research work are being conducted globally for age related memory loss and other cerebrovascular disorders. It also showed positive results for dementia patients and people suffering from Alzheimer’s disease. But this is most popular in the market for its ability to boost functions of the brain.

This supplement enhances the use of oxygen by the brain by increasing the amount of adenosine triphosphate or ATP. Patients suffering from dementia, a condition caused due to minor stokes in the brain, actually benefits from an oxygen-rich internal environment created from the intake of this supplement. The anti-oxidating property of this compound protect the functions of the brain from neural damage enabling enhanced mental alertness, sharp concentration level and focus. The degrading effect of ischemic strokes on the brain can be minimised by the vasodilation effects of Vinpocetine.


Appropriate dosage recommendations

Taking appropriate dosage levels of this supplement is crucial to obtaining the appropriate results. The typical dosage level varies from 15 mg to 30 mg per day divide into three portions with most users obtaining the highest benefit from intake of upper dosage levels. Unlike other nootropics this supplement tends to show a reverse impact on the user when taken at doses higher than the recommended level. The maximum benefit is observed at dosage levels of 40mg per day although the effects may vary from person to person depending upon the sensitivity of the body and the purpose for which it is used.

The capsule form of 5mg is recommended to be taken even twice daily for an immediate cognitive boost. It is suggested not to consume tablets of 20mg and beyond as it can cause adverse effects of drowsiness and hangover. Feelings of improvement in energy, mood and cognitive abilities have been observed among users of this supplement. Stacking this supplement with other nootropics can provide better results but that should be done only with the help of a registered medical practitioner or health expert. The online retailers provide capsules of different dosages and here you can choose from a range of alternatives according to your needs.

Working mechanism

Due to its ability to penetrate the blood barrier of the brain, this supplement is known to reduce conditions of stress without creating effects of dizziness. Numerous research work has been conducted over the years to establish the beneficial effects of this supplement in curing different kinds of ailments. Being a powerful brain enhancer it increases blood flow to the brain by enabling cerebral metabolism. The blood vessels in the brain get dilated resulting increased blood flow through glucose utilization and oxygenation. There is a wide online market for this supplement and here you can find numerous webstores marketing such product. But you need to be extra cautious while ordering from one to ensure that the supplement that is marketed is genuine and according to the requirement of the purchaser.

What can the insurance industry provide interns and recent graduates?

5 transferable skills every graduate should have.

Early in everyone’s’ career there are skills that are necessary for success in the modern workplace. Our education system does not exactly prepare students for some of the realities they face in the real world. The quicker a recent graduate can adapt to the corporate world the quicker they will be able to advance their career. Some skills are industry specific, but there are several skills that can be developed in the insurance industry that are easily transferable to most industries. Here are five skills that interns and recent graduates can develop that will set them up for success in whatever field they eventually go in to.


Critical Thinking Skills

The ability to think critically on your feet is an essential skill that can help someone succeed no matter what industry they go in to. Insurance provides the opportunity to develop these skills in many ways. One way is as an account manager or agent you have to quickly determine who your customer is, what they need, what they want and what products can feel those needs. In insurance, sometimes the best way to service a customer is by helping them see risk they may not anticipate. A delicate partof the industry is balancing a conversation where the business owner thinks you are trying to sell them a policy they do not need, but from experience you know how devastating a loss can be when an incident occurs. In reality, you can only inform the business owner of the risk and allow them to make their own decision. The better you can develop critical thinking skills the more success you will have in the insurance industry.

 Interpersonal Communication

Possibly the most important skill for success in insurance is to be able to relate to people. Insurance is needed by almost everyone. Whether you are selling a life insurance policy to a new father or a general liability insurance policy to a small business owner, you are going to have to quickly anticipate what is important to the customer and how you can best fill that need. One phone conversation may be with an accountant from a city and the next conversation may be with a mechanic from a town of 2,500 people.

 Computer Skills

Computer skills are a must in today’s business climate. The more you know and the better you are with computers the farther your career can grow. Not everyone can be a computer programmer for IBM, but having some basic knowledge of computers is essential. No matter where you work in the insurance industry you will need to have a basic working knowledge of Microsoft Office. Some departments like marketing or IT will require knowledge in HTML and JavaScript, but even just knowing how to use the back end of a WordPress site can help get you one step ahead of the competition. Computers are static so constant training is a must.


Anything you do in life is going to involve working in some form of a team. Even if you are working from home you will have to interact with a boss or supervisor with the company you work for or you will have to interact with clients to get the project done the way they want it. IN insurance, you will need to work well as part of a team to find the best policies and the opportunities where you can better insure your clients. This can be for a small business owner, when you are trying to determine which general liability class code they should be in or on a life insurance policy when you are trying to work with other members of your team and the client to get all of the necessary documents for the policy to be active.


Professionalism is one skill people just out of college frequently struggle with. Whether it is showing up on time, spell-checking an email, using a polite tone of voice over the phone or not cracking a joke at the beginning of a meeting; professionalism is essential to success in any organization. The quicker someone develops a professional reputation, the quicker they can begin to move up the career ladder.

Earn Your MFin and Start Working in the Finance Industry

For many business students, the finance industry is both the most difficult to break into and the most satisfying. If you want to be involved in high stakes decisions, wealth management, analysis, and commodities trading, your career path probably begins with a Master of Finance. This degree is taking off as a way for people pursuing business school after their undergraduate degrees or several years of work experience to start carving out careers in commercial banking, insurance, and analysis. As more businesses on Bay and Wall Streets begin to recognize the value of in-depth knowledge in quantitative methods, derivatives, and analysis, more universities have begun offering the degree.


When you pursue an MFin program in Canada, you’re setting yourself up to work in a number of careers:

Insurance – Professionals who work in risk management take jobs as insurance asset managers, actuaries, and underwriters.

Planning –These professionals advise individuals on how to manage their wealth and investments, often working with major banks. One of the ways to improve your competitiveness and credibility is to supplement your degree with a certification like the CFA. Universities like Wilfrid Laurier include CFA preparation courses in their curriculum, meaning their students have traditionally higher pass rates for the CFA’s notoriously difficult three-tiered examination process.

Commercial Banking – Professionals in commercial banking can make some of the highest salaries of any of the careers an MFin prepares you for. Credit analysis, commodities, auditing, and accountancy are all the responsibilities of commercial bankers.

Real Estate – If you want to work in property management, brokerage, development, or mortgage banking, an MFin can help you find your niche in real estate.

Financial Managers – This career path is for those with their eyes on the C-suite, becoming CFOs and treasurers.

What distinguishes an MFin from an MBA is a focus on the hard skills that you won’t find in a more generalized degree. The program at schools like Wilfrid Laurier University focus on portfolio management, derivative products, and analysis of fixed incomes and equities. The types of jobs that become available to you can be incredibly competitive, especially if you want to work in high stress environments like Bay Street or Wall Street. There are both perks and drawbacks to working in the top finance jobs. While your compensation will be significantly higher, you can expect long work weeks, a committed relationship to your phone, and a competitive work environment.

However, if you’re up to the challenge, working in the finance industry will develop your endurance and make you a stronger employee in any industry. It’s not for the faint of heart, but if you live and breathe high stakes decisions, analytical problems, and the business of money management, the MFin is a degree designed for you. If you’re already working professionally in the finance industry, you can also take the MFin part time on alternating weekends. It will give you the qualifications and knowledge you need to make the leap into management that your career craves.

Change the Way Your Board Communicates

When you sit on a board, you understand how important communication is to an organization’s success. Reports need to be written clearly, succinctly, and with a C-suite audience in mind. The reports, recommendations, and summaries you receive as part of your book need to be written knowing that your time comes at a premium. You always come prepared, but there are only so many hours in a day. If the information you receive in your books is confusing or poorly represented, the entire board loses valuable time trying to understand a poorly written document that could be spent in real dialogue.

But what if you could also change how you receive those lengthy, heavy reports? Instead of administrators having to hunt down directors and scramble to get last-minute updates to them before their flights, a digital board portal can instantly distribute your hefty reports. Board of directors software for iPad, Windows Surface, and Samsung GalaxyTab can revolutionize not only the way you receive documents and reports, but also the way you work in between meetings.


To give you an idea of how a board portal works, here’s an inside look at the portal designed by Aprio:

Permissions are at the foundation of secure document distribution; administrators divide the directors into groups and sub-groups based on committees, in camera meetings, and conflicts of interest. Administrators can create as many groups as they need to, each with a unique password. Administrators then assign resolutions to groups; the app then sends an email notification with a link to the documents securely contained within the app. It’s worth noting that the materials a user can see are based on what group they belong to, but every document requires password access.

Meetings and events are easy to organize on a native calendar that can be tailored to a specific group. Administrators have an easy-to-use drag and drop system for assigning events to groups, and then assigning material relevant to the event, i.e. reports to be discussed.

App versions make the platform usable on tablets in addition to laptops. Most admins prefer to work through the browser-based application, but they too can access software through an iPad, Android, or Microsoft tablet.

Archiving minutes and past decisions becomes easy and digital, saving the cost of storing and maintaining them in paper form.

If your organization is spending too much money on printing, copying, and couriering heavy briefing binders before every meeting, it may be time to learn about board of directors software for the iPad, Surface Pro, and Galaxy Tab. The right platform will allow directors to work in between meetings, either by annotating documents or voting on resolutions remotely. It will come with full support, any time of the day, any day of the year, and be available in the language of your organization. As you research available portals, also consider your security needs. The portal’s server should be hosted in your organization’s home country, or else you may find that it’s subject to laws where your organization doesn’t even operate. When you’re sitting through board portal software demos, don’t forget to ask questions about servers, support, and iPad/Galaxy/Windows capability.

What funding is available if you study online?

If you want to study for a qualification that will help you get a different job, or if you simply want to expand your knowledge, studying online can be a good way to do it. You can choose to study in a flexible manner which means you can still work full time and study for your qualification. This can help financially, as you have your regular earnings to rely on.

Of course, you may not be able to remain in full-time employment and study; depending on what other commitments you have. You may also need to make some extra cash in order to be able to afford to pay for your study and any associated costs such as exams and books. We are going to take a look at the advantages of studying at an online college like UpSkilled and what your options are for financing your study.


Why studying online can be a good idea

Many people decide that changing career is a good idea, and they need to study for new qualifications in order to work within their chosen new career. If this applies to you then studying online makes sense for several reasons. The most important positive about studying online is that you get a lot of flexibility which means that you can often remain in full time employment and still complete all of your studies.

You also do not need to travel if you study online. You can set up a study space at home which is a far more convenient location than a traditional college. The financial aspect of studying online is another positive. Online courses are cheaper than traditional college study and you usually still have a regular income coming in. That being said, there are options available if you need further funding for your course of study.

How can you finance your online study?

If you are looking at how to finance a course if study you should take a look at some of your options online. It’s important to note that many courses do not qualify for assistance on a general basis. That being said you may be able to secure help through an internship programme or through your own employer if you are changing track internally.

You certainly need to explore all options for financing any period of study you need to undertake. Of course, you do always have the option of approaching the bank for a loan if you run out of other options. If you want to do this it’s fine but you always need to consider how you are going to pay back the money you borrow. Do not forget that if you are starting out on a new career it’s likely that your initial salary will not be that high.

Studying online can be the perfect way to gain the qualifications you need to change to a new career. If you choose to undertake online study then you need to plan carefully, including the financing of your period of study.