If Only I Had It

There are many advantages of Debt Consolidation here are just a few of them ;

1. Elimination or reduction of accrued interest and penalties: When debtors default on any account, the interest and financial charges are stacked over the debt. Hence the total debt amount continues to grow like mushroom. Debt consolidation program eliminates the portion of your total debt built up by accrued interest and other financial charges. The total debt amount is reduced consequently.

To make it clear, if a $2000 debt has piled up to $5000 where the $3000 is due to the interest and other penalties, then consolidation first eliminates $3000 from the debt. So now you owe:

$5000 - $3000 = $2000

2. Single monthly payment for all the debts: Debt consolidation acts like an umbrella that covers all the unsecured debts, like credit cards, medical bills, utility bills and offers one monthly payment for all the debts. You have to pay one payment to the consolidation company every month and the company will disburse the fund to all your creditors. Thus you need not remember the payment dates for all the accounts any more and the chance of being late is minimized. This is also known as credit consolidation.

3. Reduced rate of interest: Counselors working in the consolidation program negotiate with the creditors and turns up with a much lower rate of interest. This way the debts are restructured with new interest rates and the minimum payments are also less than what used to be earlier.

For example, you have three credit cards with 18%, 12% and 9% rate of interest. Average rate of interest you have been paying:

(18% + 12% + 9%)/3 = 13%

After consolidation, the interest rates become 12%, 10% and 7% respectively. Now the average rate of interest becomes:

(12% + 10% + 7%)/3 = 9.66%

Now if you owe, $5000, then the reduced rate of interest would save more than $1500 for you.

4. An effective repayment plan with budgeting tips: Counselors prepare a repayment plan for the debtors willing to consolidate their debts. The repayment plan is really helpful and let consumers save some bucks for emergency; hence the chance of getting default on debt consolidation program is lessen.

5. Your debt free life is accelerated: People tend to pay minimum on their credit cards and revolve the balance to successive months. This elongates the indebted period infinitely. Even if anyone pays little more than the minimum, it might take 12 – 15 years to become debt free. The result is, you keep paying more and more to the credit card company.

A successful debt consolidation program can make one debt free within 2 to 4 years and saves some money for you. So quickly take the advantage that is given to you and get yourself a debt consolidator to help you analyse your debt consolidation.

I have been thinking lately. I joined a company called THG which is under the company called Marcus Evans. Now this guy Marcus is a multi millionaire who also owns the Ipswich Football Club. He made his fortune selling corporate hospitality for major sporting events around the globe.

His idea was very simple yet effective. CEO’s need to entertain their major clients. How do they do this? Bringing them out for simple dinners or even to have drinks at an expensive restaurant wont suffice.

He actually got sporting events such as Formula 1 and got hospitality at the nearest hotels to the event place. He created the event in the simplest of manner and was able to sell these events for huge profits. Now how much do you think the most expensive ticket to watch the race would be? He does not even get these tickets. The hospitality is always outside of the event space thus creating a maner for the CEO’s to talk and entertain their clients at a controlled environment.

The coming Singapore GP is being sold at USD 34,500 per table of 10 which comes with free drinks , vip speaker, food and many more but the costing of doing this is only 25% of the selling price. He makes tonnes of money creating these events. Now he has about 6 offices around the globe.

Why cant we normal people think of doing such things. Cheat the CEO’s out of their entertainment fund. They have a lot of it to spend anyway. If anyone comes out with such an idea next time please do let me know. I would love to invest.

You know once in a year in the Chinese Calendar there is a festival called the Rice Dumpling Festival. Something like that I think. I just know how to eat them and trust me they are delicious. Although some people take it overboard and eat too much of it.

For an example my wife told me that she used to love eating dumpling until there was a year she ate too much of it and she vomitted it out. That made her hate eating dumplings and she does not eat it till today. Me though I love eating them as much as eating the King Of Fruits ( DURIAN ) . But my wife doesnt like either.

Makes it hard for me to eat any of these. The worst part is have you seen the rising price of these dumplings. It used to be the days where you are able to buy them for like RM 2- 5 but now they are even selling it at RM 40 per dumpling depending on the fillings. Unbelievably made for the rich.

Already I am suffering with the sudden rise of the Fuel price made by the Malaysian Government. About 50% increase compared to the normal pricing and decision made overnight. There was such a jam to not only fuel up your tanks but also to go home.

 Hey guys, I know it has been a long time since I have last wrote on anything here. Have been quite busy with work and all. Yes I do have a life outside of this blog. I was also away on a holiday in the United States visiting a long lost friend of mine. Havent seen him for the past 12 years since we graduated.

He is actually a surgeon now based in the Big Apple. During my duration there I came across something that I thought I should share with you guys. Dont you get frustrated most of the time with promises from your ISP provider. They always say that their internet connection is the best but the truth is it is always expensive for nothing.

Most of the time my internet connection goes according to timing. Work time is always the best as well as from late night till early morning other than that the speed is more like a dial up connection although the price is more of a DSL line.

What am I talking about you might ask. Well it is Satellite Internet. This is more of a broadband service that uses a two way satellite connection. It is more clearly knowned as  Satellite DSL. The speed using this service is by far the best I have seen. Using it was a breeze and it was very good especially when I did a lot of video conferencing. I know by know you guys would say that this is great but is way out of my budget.

Well there is surely one thing I can tell you guys. It is within means. There is this company called HughesNet that supplies the equipment and the connection for this type of broadband facility. So far the pricing that I have seen them quoting is very cheap. It is only about USD 79 per month and there is multiple types of facilities that they are providing.

I would surely recommend this service to anyone who is seriously using the internet or even in fact to anyone who is using the internet paying for a service and not getting what they expect.

Head on down to their website which I have provided in the links above and you would notice that this is surely a service to get. Hopefully they will bring such a thing down to Malaysia as soon as possible as I am clearly down hearted with my service provider.