Monthly Archives: September 2015

Hiring a Mortgage Broker in Brisbane

A mortgage broker is a person who is able to help you secure loans
from various banks and assist you with the buying options from various
lenders. They act as middlemen and negotiate on your behalf thus
increasing your chance of securing the best deals. This article
highlights the benefits of hiring a mortgage broker in Brisbane. Keep
reading to find out how they can assist you.

Mortgage brokers Brisbane provide valuable services
to those who hire them. They make the process of buying a lot easier and
provide the best deals available in the market. Additionally, they
educate their clients by making them understand the terms of loans and
explain the pros and cons of various financial products. With their
help, buyers are able to make informed decisions.

Finance broker
is of great help as they assist in determining the loan amount that you
should seek from lending institutions. Since they are expert in the
field, they can guide you in your decision. These professionals are also
very familiar with the various banks and their policies. Thus, you get
benefited from their knowledge.

Filling out the paperwork while
securing loans are a very critical step in the bank’s lending process.
Mortgage brokers assist the customers in preparing loan applications and
submit it to the lenders. Not only this, after submission of the
paperwork, they follow-up with the banks and monitor the progress by
keeping in touch with the financial institutions. This prevents delays
in the process.

After having discussed the benefits, it is
important to know how to choose the right professional for handling this
service. There are certain factors that need to be kept in mind. You
should always look for a licensed broker who has a good reputation in
the market. In today’s competitive environment, people in Brisbane are
posed with a lot of options. In such a situation, it becomes difficult
for us to choose which broker is the best as there may be some who make
false commitments. So, you have to be cautious from these brokers. A
right individual will ensure that the lending process goes smoothly with
the least possible hassle.


The decision to choose the right broker should never be rushed. You
should always spend a good amount of time in researching the right
person in your area. The internet is also a good source of information.
For instance, if someone is looking to buy a home in East Brisbane, he
should search for mortgage brokers East Brisbane. This will give you
ample of options that can sometimes be overwhelming. So, be careful in
choosing the right professional. You can also ask your friends,
colleagues and family if they can provide recommendations.


Another important thing to look for is his association with the
professional bodies like FOS, COS, MFAA, etc. It is always a good idea
to ask about their educational qualification and then cross check with
the professional body he is associated with. This will give you an idea
about his credibility.

To summarize, there is no second thought
that mortgage brokers in Brisbane provide the best of the services to
meet your current and future needs. However, it is highly recommended
that you look for a qualified broker who has good experience in the
industry and is able to assist you in the right direction.

Seven Steps to Hassle-Free Business Debt Recovery Management

Every business outfit in Australia has its standard terms and
conditions for credit. This document is similar to a sales contract, but
includes provisions for when the buyer fails to pay his or her business
debts. In essence, there are seven ways that businesses can strengthen
their terms and conditions for a smoother business debt recovery
process.

Clearly Identify the Parties Involved in a Business Transaction

When
giving credit to a customer, you should state whether it’s a
partnership or a sole proprietorship. Get the real names of the persons
who entered into the partnership agreement or the full name of the sole
proprietor. Find out if the business or company exists by searching for
its Australian Company Number (ACN) at the Australian Securities and
Investment Commission (ASIC) website. You can also search for its
Australian Business Number (ABN) at the Australian Tax Office personally
or through the ABN Lookup page (abr.business.gov.au) of the Australian
Business Registrar.

Seek Guarantee of Payment When the Customer is a Company

To
be sure that your business client pays, do some investigative research
into the company’s solvency. A business whose history shows a continual
struggle to stay afloat will not be a good debtor to you. Nevertheless,
if the company looks stable, you’ll still have to ask its owners or
Board of Directors to provide you with a signed guarantee. In case the
payments get delayed, the guarantors are responsible for paying the dues
during the business debt collection process. Also, check for other
valuable assets that the company or its guarantor probably owns; lands
or other business outfits can serve as collateral in case the company
defaults on its financial obligations to you.

Let Your Outstanding Receivables Earn Interest for Your Own Good

Accruing
a yearly interest on unpaid debts is part of a good debt collection
policy. If it were kept in your bank account, then you’d have earned the
same amount of interest on it. As it is being used by other people,
you’ll have to calculate at most 10 to 15 percent interest per annum
over the principal amount owed to you. That seems like a reasonable rate
for overdue accounts.

Define Who Retains the Title Over the Existing Goods

If
you’re a supplier of goods to your business client, then you should
stipulate an arrangement on who owns the goods during the time when the
customer hasn’t paid the amount due in full. As the supplier, you should
be able to claim ownership over the remaining inventory in case your
customer suddenly declares bankruptcy. Since October 2011, the Personal
Properties Securities Act 2009 requires businesses to register title
rights, leases, and equipment hire arrangements as securities.

Include a Provision to Stop Supplying Products or Services to the Customer

Simply
calling a halt to provide raw materials, manufactured goods, or
commercial services to a non-paying customer may cause too much trouble,
not only to your client, but also to their individual customers. The
public outrage is enough reason to tread carefully over this section.
This is especially true for suppliers to restaurants and grocery stores
where ongoing arrangements must be fulfilled to keep the consumers
happy.

The best thing that suppliers and merchants can do, in
this case, is to agree on a specific period and course of action. Let’s
say, your customer’s failure to pay up the full amount within two weeks
after the debt’s due date shall result to a reduction of supplies by
half in the first week and a complete stop to all supplies on the second
week. This way, you gradually pull out the plug to the flow of goods
while giving your customer enough time to pay what is due.

Recover Legal Costs from Suing Your Errant Debtors

Most
commercial debt collection agencies, like JMA Credit Solutions, assure
their clients that they’ll do everything they can not to let the
situation get out of hand and bring the debtors to justice. However,
it’s unavoidable that you may have to sue one or two of your errant
debtors to recover your investments. This means you’ll be spending more
on lawyer’s fees and filing those cases. Include a stipulation that the
customers found guilty of defaulting on their financial obligations must
also pay for your legal expenses.

Specify the Jurisdiction of Your Claims Against a Non-Paying Customer

This
last section is most useful for business that operates online and deals
with customers from all over the world. Specify that whatever legal
action you decide to take shall commence in the courts of your preferred
territory.

These seven steps must be implemented before your
company even starts doing business with clients. Make sure you already
established strong measures in your debt collection management policies.
These measures may include hiring a third-party agency, such as JMA
Credit, to recover bad debts for you. This saves you time and energy in
collecting old unpaid debts and lets you focus on current ones.

Professional Financial Services Help You Get The Money When You Need it The Most

You may be of a good businessman and has lots of savings or you may
be a person of government job holder. But nobody can know the day on
which all the pride of life can be abolished in some unexpected
misfortunes and that happens. But life does not get stand still. It
needs some maintenance and maintenance of the family members depended on
you. you cannot be free from this rule of life and this is the reason,
you have to earn spontaneously. For this income, you have to be
supported by somebody who will make you feel better in regard to make
the economical surroundings strong. This works are being perfectly done
by the professional financial services. This is a service that only
things of their clients best and understand the situation of them
perfectly. In the distressed condition of the common people, they show
the right path to them and thus they get the perfect destination of
earning of his livelihood.

The experts of professional financial services find
out all the drawback of the client and all the strong point in clients.
Sometimes, they are the perfect discussion maker for the distressed
persons. In the family of the client may be someone dead or the purpose
of his treatment a huge amount has been spent. So, for the smooth
livelihood, you need to have a spontaneous help economically. This is
why; you have to take the support of the financial services. This is not
a voluntary service. For the service, you have to pay cash but until
they are securing you the spontaneous cash offer, and in the
verification period they do not take any cash from them.

At
first the professional financial services company takes all the data of
the clients, their best strength and fall back, insurance done or not,
any loan is taken in respect of the insurance of giving any mortgage.
All the date has been nicely taken these financial service officers.
After finishing all the details enquiry of the client, they suggest all
options that will be beneficial for them. Sometime they suggest taking
some loans according to the current debt or economical background.
Sometimes, they have some known agents who are ready to provide loans so
that they get the perfect normal economical growth in life. Sometimes,
they arrange the loan for the vehicles or showroom of various types of
vehicles in some certain situation.

Mortgage Market Review and Its Impact For Borrowers

Robin Hood was famous for robbing the rich to give to the poor and
you could be forgiven for thinking that today the very wealthy were
attempting the reverse that situation when it comes to securing the best
mortgage deals. It appears that there is one set of rules for some and a
different set of rules for others, with wealthier borrowers now being
exempt from certain legislation and criteria imposed on mainstream
borrowers. However taking a ‘one size fits all’ approach to lending
really benefits no-one and the main point of regulation is to protect
the best interests of each individual client.

The Mortgage Market Review focuses on “Treating
Customers Fairly” and trying to hard wire a more conservative, but
common sense, approach to all areas of lending. However, some of the
changes are indeed a bonus for high net worth borrowers.


Firstly, entrepreneurs (business people borrowing against their homes)
will enjoy far more flexible criteria and even be able to ‘opt out’ of
standard affordability checks providing they can offer a credible
business plan. However, if banks remain unwilling to lend then more
traditional alternative funding routes typically used by entrepreneurs
may still be the quickest and simplest option.

Secondly, High
Net Worth (HNW) individuals, which are typically classed as those
earning upwards of 300,000 per year in the UK or those that have a net
asset base of 3,000,000 or more, can also enjoy a greater degree of
flexibility and be able to opt out of standard criteria tests when
borrowing a mortgage. The exemption for High Net Worth (HNW) borrowers
from stringent affordability criteria provides lenders with the
opportunity to be flexible when regular checks are not relevant for
certain categories of clients. Many HNW clients have a high level of
complexity with regards their income and assets. Many have irregular
income but their personal or family wealth is so vast that a standard
affordability check are effectively pointless as the risk to the bank or
other lending institutions is minuscule.


All things considered, the Mortgage Market Review willingness to show a
reasonable degree of flexibility for high net worth individuals must
surely be welcomed by all; both by the borrowers themselves but also by
the lenders, which have been freed from irrelevant legislation in
certain circumstances.

Obviously no one wants to see a return to
the days of the overly-easy credit available with minimal checks,
before the global financial crisis. This was one of the main reasons for
the economic predicament in which we now find ourselves embroiled in
the UK, Europe and the USA. But sensible lending does not have to mean
that checking the credit worthiness of a large mortgage borrower can be
done effectively by purely a box ticking exercise and disregarding
anyone who does not fit a particular profile; some common sense must
always be brought into the equation. This is good news for high net
worth mortgage borrowers as a whole and finally a common sense approach
has developed in the mortgage market that has been lacking for too long.

Debt Elimination Most Effective Way to Become Debt Free

Most households find debt as a major financial concern nowadays.
There are many reasons why people took loans and because of the
financial problem in recent past, most of them found repayments
unmanageable. As a result, most of them got into debt and some went deep
down finding it extremely stressful and out of their control. The main
problem is that people live from paycheck to paycheck. So, when debt
accumulates and one has to make arrangements for more installments, they
feel overwhelmed. However, debt elimination should be the first
priority in this stage so that you achieve financial independence.

Although debt elimination is a term that many of you
must have come across, it becomes difficult to organize and find out
where to start. Well, the first thing that you need to do in such
situation is to acknowledge your debt. In fact, when someone is not used
to financial hardship, he feels embarrassed and uncomfortable. Some try
to ignore the issue and hope that everything will be all right by
itself. But, in reality to normalize any situation, you need to focus
and work out a solution.

Once you take the decision, you need to
prioritize and for this you need to make a list of the bills and find
out how much you owe. When it comes to debt elimination, you should pay
the highest interest rate bills first. Work out an installment that fits
in your present budget and make it the highest so that you get rid of
the debt as soon as possible. You can also contact the credit card
company and find out whether they can lower the rate of interest to some
extent or not. If you have been paying the bills on time in past, they
might consider your financial condition and customize the rate of
interest.


One of the most important things that you should keep in mind is to
reduce your spending habit. Make a list of essential and non-essential
things and then stop spending on the latter ones at least for some time
so that your debt gets cleared. Try not to use your credit card for
sometime because this might lead you to more trouble. Last but not the
least suggestion is that if you find things overwhelming, take
professional help so that debt elimination could be done more
efficiently and you get desired and better results, for sure. They can
work out solution to make you debt free.

Money Matters Financial Services Ltd. – A Priceless Masterpiece

A price less masterpiece, and timeless creation with an everlasting
essence of knowledge, excellence, distinctiveness, integrity and passion
– Money Matters Financial Services limited leading the top charts of
Indian Financial Sector.

An urge to value their customers much like their
business every day, an highly qualified team of financial experts with
an in depth knowledge of Indian financial markets, addressing the
comprehensive financial needs of clients dedicatedly and best cost
efficient manner makes MMFSL stand apart being a market leader.

Today
NBFC is a hub of all finance related solution. Initially the company
gave business advice in debt and syndication; trade in debt securities
further widened its business base by catering to premium corporate
houses, intuitions with finance related advisory services like
Investment Banking, Corporate Finance , Private Equity Funding and
Equity Broking.

The firm helps various domestic and secondary
business sectors (Retail, Industrial and Telecom etc) to capitalize
market opportunities, strengthen their market position and boost up
their funds by providing best suited solution. The prime focus to offer
its each customer a delighting experience has enable the organization to
build its goodwill and succeed in the Indian financial markets.

MMFSL
is both NSE & BSE listed. The stakes of the company are good for
domestic plays with major ownership consisting of Promoters, FII
signifying greater confidence in the company and other hand public
holders forming nearly 40% of company’s holding.

The valuation of
company has been higher with a price to book value being 0.37 and
dividend yield of 1.49%. The company has grown aggressively past three
years registering a growth of 297.31%.

The
company’s business model is of great strength indicating higher returns
on capital employed 22.59%, return on equity 16.17% and 34.09 debt
turnover ratio.

In addition MMFSL extremely good to invest
especially for the risk averse as the firms solvency and margins enjoys
good position with low debt to equity 0.06 and high interest coverage
ratio of 158.43.

Further the company’s income sales being valued
at Rs 490 crore, Net profit 87 crore, the financial statements stand
neutral and book value per share is Rs 226.80. Innovation being a forte
the new practices like share splits have proven beneficial giving the
firm high returns of nearly 200%.

Recently on 30th March 2012
MMSFL has approved allotment of 8401 equity shares of Rs 10 each at a
premium of Rs 67.54 to the applicants who had applied for conversion of
their warrants under the 3rd warrant conversion period.

The success journey of MMSFL continues- Currently it endorsed with four new big corporate thus maintaining its victory.

The Wealthy, as Well as Middle Class, Can See Real Benefits From a Reverse Mortgage


When used properly and with correct planning a reverse mortgage can be a
useful tool for both the middle class and even wealthy borrowers. The
key lies in analyzing the borrower’s current needs and making the best
decision for them.

Typical Situation for Middle Class


Many people in the middle class work in a career for 30+ years and
retire in their mid to late 60’s with a home that is either paid off or
close to being paid off within a handful of years. Thankfully, paying
off the mortgage will free a sizable portion of their income.
Unfortunately, most people retire with a noticeable decrease in their
monthly income.

A reverse mortgage can help this situation in a
number of ways. The easiest solution is to borrow 65% to 70% of the
home’s value and receive monthly payments. The payments will usually be
enough to offset most of the loss in income. A second method is to get a
lump sum distribution and use the money to invest in safe resources
like bonds and low risk mutual funds that will yield enough interest to
supplement the borrower’s income. Other possible resources that can be
purchased would be rental property or a silent partnership in a stable
company.

Typical Situation for Moderately Wealthy


People that have been accustomed to a 6 figure job will find it
mentally and emotionally difficult to drop down to a slightly less
expensive lifestyle when they retire. Fortunately, these individuals
usually have homes that are in the higher price range of $400,000 and
up. With homes at these price levels it is possible to get a higher
reverse mortgage amount. The current maximum reverse mortgage amount is
$625,500 but that may likely change at the beginning of the new year
back to $417,000.


Even at the lower amount it is still possible for borrowers to get a
sizable loan and use it for investing purposes. Like the previous
example, the borrowers can use the money to invest in multiple ways. The
difference is that the bigger amounts would allow for a wider range of
diversity.

For instance, if a couple aged 65+ chose to get a $400,000 loan they could use the money in the following way:


Purchase a modest home for $125,000 and rent it out for $875 to $1125
per month, depending on the areaInvest $100,000 in bonds and mutual
funds that are yielding between 4% and 5% annually, resulting in $3,300
income per monthBuy a vacation home in the mountains or the beach that
averages $400 per month in rental incomePut $50,000 away in savings for
possible medical bills

Grand total of monthly income from investments: $4,575


As you can see, a reverse mortgage can literally change a person’s
financial status in a short amount of time and put them in a much better
position to live a comfortable life while also building up a sizable
nest egg to leave to their children.

A Collector Calls You About an Old Debt – What is The Solution

Problem:

I
was severely ill for several years. I could not work for medical
reasons. I had a few debts. The debt amount was more than $100,000. It
was not possible for me to pay off the debts because of shortage of
funds.

I filed bankruptcy to get rid of the debts. I filed
bankruptcy on 20th March 2000. I received bankruptcy discharge on 24th
July 2000. I was relieved to know that debts were finally paid off.

I
received a collection call in the last week. The debt collector told me
that I owe $5480 on a certain account. When I told him that all my
debts were discharged through bankruptcy, he flatly refused to believe
me. He told that this particular account was not included in bankruptcy.
I am at a loss. I live on Social Security pay-checks. What can I do in
this situation?

Solution:

A debt
collector can call you regarding a debt. He can call and claim that you
owe around $50,000 to them. This does not imply that you’ll pay $50,000
to the debt collector. Rather, you should ask the debt collector to
validate the debt in writing. As per the federal laws, the debt
collectors are required to prove that the debt is legitimate within 5
days of initial contact.

When
the collector will validate the debt, he’ll have to specify the debt
amount and the creditor’s name. The collector also has to state in
writing that you’ve the right to dispute the debt within 30 days.

If
you get a call regarding the debt yet again, then ask the person to
reveal his identity. Ask the person to state his name and the contact
details of the collection agency. Note down the information on a paper
and send the request for a validation letter in writing. If the debt is
really too old, then I don’t think that the collector will be able to
validate the debt. He has most likely lost the relevant documents.

The
collector has less chance to collect the debt. There is a simple reason
behind it. The debt is 12 years old. It has most likely crossed the
Statute of Limitations period in your state. This means you’re no longer
legally responsible for the debt. The collector can’t file a lawsuit
against you with the help of an attorney. In such a circumstance, you
don’t need to take any steps to make payments to the collector.

If
the debt was within the SOL period, then I would have advised you to
take advantage of the debt plans and pay off the account. However, the
situation is completely different in your case. So, you can very well
tell the collector that the debt has crossed the SOL period in your
state and you don’t have any inclination to repay it.

Finally, if
you’ve no problem, then inform the collector about the source of your
income. Tell that you’re living on the Social Security pay-checks, which
can’t be garnished by any means. If the collector pays no attention to
your words and calls you every other day, then just don’t pick up the
phone.

Money Matters Financial Services Ltd Has Been Conferred

Money Matters Financial Services Ltd has been Conferred with “Amity HR Excellence Award for Performance Management 2010”

Money Matters Financial Services builds and nurtures a
strong talent pool to achieve operational excellence. The Company is
core believe and encourages the employees to bring their entrepreneurial
spirits to the fore in the respective domains. This premier trading
institution was conferred with the Amity HR Excellence Award for
Performance Management 2010 at the Global HR Summit of Amity
International.

After extensive research, the exemplary
performances portrayed by the Industries Captains were recognized and
felicitated during the meet. The award to Money Matters Financial
Services is a testimonials to continuous focus on enrichment of human
capital.

Money Matters Financial Services is a non-banking
financial company and its primary line of business is advancing of loans
and advances. Money Matters Financial Services disclosed a rise of
71.93% in objective net profit for year-on-year basis to Rs 374.22
million, while the firm’s total income climbed 80.67% year-on-year basis
to Rs 661.74 million for the quarter ending September 2010. Money
Matters Financial Services reported a sales turnover of Rs 22.22 crore
at a net profit of Rs 9.92 crore for the quarter ending on December
2010.

A
full service investment banking platform and the key advisory practices
is offered which includes asset financing, promoter funding, structured
debt finance, stressed assets funding and margin financing which helps
emphasizes and nurture new talent.

Money Matters Financial
Services is primarily listed with, National Stock Exchange of India Ltd.
and The Stock Exchange, Mumbai. Recognition of the conferred Amity HR
Excellence Award for Performance Management 2010, bears the testimony to
their constant spotlight for the fortification of human capacity.

Equal
opportunities to employees at Money Matters Financial Services are
offered with an exemplary platform for aiding and advising corporate and
institutional clients to gather the momentum to arise up with
performance and excellence across the debt spectrum. The firm’s high
quality professional workforce ensures expert estimation on debt
financing strategies that ranges from a typical vanilla bond to complex
structured financing solutions. The company’s debt advisory and
syndication services continued to be the major contributor to their net
earning contributing total revenues of Rs. 126.05 crore in the financial
year that ended March 31, 2011.