How to Perform Debt Settlements Yourself

Debt consolidators actually earn through you by providing you services in compiling all your debt and securing everything to lower your interest rates. While bankruptcy is not your foremost option, debt consolidation may be expensive. An alternative is to settle your debts by yourself. Here are a few things to remember.

Debt settlement is the process of offering a large one-time payment for an balance in return for the forgiveness of a remaining debt. Most lenders consider business as negotiable and if the debt is merely “impossible” or large, or it would take a great time for the debtor to pay off, a customer may offer a large fixed sum that is not the total of the balance, but is a large one-time payment that will allow them the privilege of having the lender erase the remaining balance.

The focus of the credit card company or your lender must be you. They must deal with you directly and that you represent yourself. Make yourself appear that you’re in a bad financial position. Lender may actually believe that you’re having difficulties but be sure your credit card spending does not point to luxurious trips. If you cut your spending on the card for at least three to six months before requesting a settlement, you have better chances.

The Responsibilities of a Tenant To The Landlord

Landlords have the responsibility to ensure that their tenants have a place to live in and they are paying for what value they receive. However, tenants also have a responsibility to their landlord. Listed here are some of the things tenants should always remember.

  1. Keep Your Tenancy

To keep tenancy, a tenant must make the property as their main home. While you could still leave your home for the holidays or any occasion that requires you to be out of the property for days, it’s important you inform your landlord about your leave. Your landlord might think that you’ve abandoned the property if you don’t inform them about why you’re leaving, giving them grounds to evict you or even press charges against you.

  1. Never Fall Behind Your Rent Payment Schedule

Rent can be paid on a weekly or monthly basis. Depending on your agreement with your landlord, if you fall behind your rent payment schedule, it gives them reason to evict you and claim the payment due for them against you in the future.

  1. Bills

Depending once again on your agreement with the landlord, you might be the one to pay the bills for the water, electricity and other utility bills. Aside from paying the rent, you also pay for the bills. Make sure these are included in your budget.

  1. Vandalism

Tenants are responsible for maintaining order in the house. Any vandalism inside or outside the property is subject to damages to the landlord. Tenants are also responsible for preventing damages to their neighbour’s properties. You are responsible for looking after the internal decorations, furniture and the equipment provided by your landlord to you. Tenants are also responsible for pointing out some problems to the landlord in advance.

Effectively Deducting Capital Gains Tax on Your Profits

Selling properties impedes you with an 18% tax for every time you sell a property that is above £10600. This is far worse when you’re a high rate taxpayer because you pay 28% for any profit above such amount. However, there are ways to reduce capital gains tax through the following.


  1. Divide and Conquer

For each year, you are given a £10600 allowance on every property you sell. If you split the stocks you sell instead of going for a wholesale deal, you avoid paying CGT. However, this is not possible if you’re selling real estate properties

  1. Individual Savings Accounts

Individual savings accounts in the UK have immunity from CGT. You could choose from going with a Cash ISA or going in the money market with Share or Self-Selected ISAs. With Self-Selected ISAs you could mix and match the stocks and government bonds you have without incurring additional tax.

  1. Claiming Capital Losses

You could claim for capital loss within four years at the end of the tax year and gain relief for your losses. You could carry over your losses to the following year. Capital losses could sometimes be used to relieve yourself against the income. Remember that you have 12 months to do this.

  1. Repurchasing Stocks

You could secure a higher acquisition cost by having a spouse or partner purchase the same stocks you sold yesterday today. This reduces the likelihood of being charged additional taxes.

Common Violations in the Stock Market

The stock market allows you to freely invest in any company or business you’d like, but the stock market also has its own laws. Each year thousands of brokers and investors could possibly commit violations against the Securities and Exchange Commissions of every country. Here are the most common violations you could commit when investing in the stock market.

  1. Omitted Information

You will not buy something that you lack information about and if any broker did not disclose to you information about a particular investment and you purchased it, they have committed a violation. Brokers must present all the risks associated with potential investments and be completely honest about the fees of each investment.

  1. Market Price Manipulation

It is illegal for traders to manipulate the prices of their securities to avoid inflation or deflation of the securities’ prices. This can deceive many investors about the current state of a security in the market while allowing traders to profit greatly due to investor reaction in buying or selling more stock.

  1. Stealing

Stealing is a crime in any aspect and in the stock market, taking funds from clients to use the money for personal expense and investing the money in their own names is a great violation in the stock market.

  1. Insider Trading

All companies are required to release the private information about their securities once an individual is given the information. If a company does not comply to this, the SEC considers this a violation as this is known as insider trading. Anyone with access to non-public information is considered an “insider”.

The Two Types of Business Bankruptcy

Businesses come and go; sometimes other business just fade out of the spotlight, some just restructure. In any case, an outgoing business could affect other businesses and a country’s economy if the lenders are not fully repaid for the business’ debts. Here are the two types of business bankruptcies that business could use if they want out of the spotlight.


  1. Chapter 7

Chapter 7 bankruptcy is the best choice for any business that wants to get out of the industry, or if its board of members do not see any plausible future for the business. Chapter 7 bankruptcy hands over the liquidation of business assets to a trustee appointed by the bankruptcy court. The trustee, once liquidating all the business assets, will then receive lender claims for the business’ liabilities. The bankruptcy court will then divide the assets and costs accordingly.

  1. Chapter 11

Chapter 11 bankruptcy is for any business that deems a restructuring of the entire business plan could get the business going because the current plan is not fruitful. The owner of the company can be a trustee and all business operations could proceed. The trustee will then present plan of reorganization outlining how to deal with its creditors including repayment schemes. The creditors could provide their own plan if the scheme is not to their liking.