We must be very careful with these solutions, because what is a difficult situation can become a critical situation. You have to evaluate many different options, and view each particular case, why not for everybody this is the best solution. In what cases can be a solution to regroup loans ?, because honestly think very few. Since we do not forget that these companies are not sisters of charity, are companies looking for profit, and we can assure a profit seeking disproportionately greater than those banks and savings banks or financial institutions, because obviously the risk is greater.

For example, if the family’s financial problem is given because it has lost some of the income of the family unit, but another part of income is considered to be completely stable, almost impossible to lose (the salary of an official, perhaps) whether it would be an option to evaluate the possibility of refinancing the debt with one of the many companies that offer this service. Extend the life of the loan, at the expense of paying more interest, but with a markedly lower monthly fee.

But for the rest of cases, and even then, before venturing to the desperate to accept this type of refinancing your loan, it is better to see the other options: renegotiate your loans and mortgages with your bank, try to change some condition, sell the property on which there is a loan to pay off the remainder of the loan with the proceeds from the sale,. etc. .. Sometimes there is no option, but be very sure, do many accounts, and consider all available options before going to regroup loans and exorbitant interest about irreversibly worsen your financial situation.

1. Have a day reconciliations of clients:
It is clear that if the reconciliations are not current, the information is not reliable and people will lose valuable time to determine what is really up. It seems obvious, but many companies these data are not current.

2. Make an inventory of the customer up and regularly review:
The management information system, its configuration and the actual use made by people who have accounts can make a big difference between a list of unpaid very difficult to read and a real working tool. The ideal is to get a list of customer balances, with the vanquished by age, and the explanations to date. Many computer systems allow you to update comments so we can know at any time the unpaid position of a client. It is vital to know the reason for nonpayment.
The most practical is to build a file with all the defaults, which evolves as a function of actions and collections. In this file, each unpaid balance is a person of the company responsible for an action for a specific date.
A weekly review of the status of outstanding debts by a small monitoring group will act quickly. No need to be long, you have to go to basics and take action.

3. Separate defeated in categories:
An unpaid because the customer is not satisfied with the quality of the product or service does not require the same actions as one in which the client says they can not afford.
A split would be for example:
-Recent bills unpaid administrative grounds
Recent bills unpaid-for commercial litigation (per customer)
“Hardship recent invoices unpaid customer cash
-Old dispute
-Old unpaid invoices by customer cash difficulty

4. Involve staff in the collection business:
Administrators who manage client accounts have to be diligent and resolving administrative problems (invoice received for example) and quickly alert the trade in case of disputes.
The commercials have to talk to any customer who claims to have an issue and solve it (the solution may be that the customer has no reason and the amount must be recovered in full, or may be it takes a subscription).
All actions are reflected in the trace file described above, and always have a responsible partner.

5. Adapting to the situation of each client:
You can not claim the same firm a bill to a dissatisfied customer than one that samples of abusing the situation. Neither can be too blunt with customers who know difficulties.

6. At no time letting the customer’s risk increases:
Whatever the reason for nonpayment. The rule should be that a client with an unpaid invoice is not re-sell on credit. The same for a client who has given us a scare, but in the end we collected all in the future will have to pay cash.
That is the norm. Then the manager of the company or person to whom he has delegated this authority may make exceptions.

7. Solve administrative problems:
They often disguise a liquidity problem or an abuse of a client, but in this paragraph we deal with real administrative problems, the most frequent being the loss of invoices.
A good measure customer can call a few days before the expiration of the bill and make sure everything is ready. This will also be identified before potential trade disputes.

8. Straighten those who always pay later:
There are always customers that although the payment terms they have to pay D-day, pay 5 or 10 days later. They argue that their conditions of payment in our system are not correct, you only have one payday a month, or otherwise. This situation must be clarified, involving the commercial, to define once and what the conditions. The solution may be to align payment terms, or assume that the customer has no reason and block any request to pay on schedule.

9. Resolving commercial disputes:
The commercial department has checked must contact the client as it is known that the customer is not happy with a bill. The commercial will determine if there really is a problem, fix or indicate this is an excuse to buy time and not pay.

10. Negotiate with those who can not pay:
Many customers have difficulty paying. Understandably, if a payment plan request is to hear his proposal. If the payment plan is reasonable (does not go beyond a few months and the customer pays a significant delay) is more accepting to go to trial, and more with the current backlog in the courts.
However, unfortunately, often despite the goodwill of the customer, the proposed plan is simply not feasible or can not pay, so that the case should go as soon as possible to a lawyer, to secure our rights before too late.

11. Unmasking those who profit:
Unfortunately, there are still some clients, very few, who use a thousand and one tricks to avoid paying. They start saying that they have not reached the invoice, then the book was not to sign the payment, then it turns out that there is a dispute, until they cease to answer directly. For such situations, companies are very effective, engaged to collect the amounts that seemed bad, in exchange for a significant commission, but it is better to collect the 80% than nothing.

12. Review the conditions and methods of payment and establish credit limits
The above steps are a shock action to combat an uncontrollable situation of arrears. But the most effective is to prepare for the future with a real customer credit policy. Depending on the strategic importance of a customer and we know about your financial situation, determine your payment terms (days) and your credit limit (in euros). Ideally, the system blocks any new request if the customer defaults in payment or if your total balance exceeds the limit.
The effort must be to reduce the payment terms, systematically to less strategic customers, and through negotiation for other customers.

The payment mode is also very important. A direct debit allows much more control fees (while you have a better cash-flow forecast) and should be preferred to other methods such as promissory notes or checks. Wire transfer is a good alternative, since you can easily check payment only to review the bank account.

Everyone knows that today’s college expenses are very high. Therefore, many students borrow money to pay school bills, and after graduation they realize they have to pay more money than the original amount. All this is caused by the deferment period.

This article will help you understand how the deferment of student loans affect your financial situation.

Let’s start from the beginning and see what a deferment period is.

The first student loan payment is made only after he leaves school or graduates. In other words, the student goes to college, getting a good education, graduates, and only after he gets his first job, you begin to repay the loan.

It’s a perfect sound, but you should know that the interest is added to the original amount during the four-year college. To be more precise, if you borrow $ 20,000 you will end up paying $ 30,000 in the final. In other words, everything in life has a price.

Now, let’s see how a deferred loan and a straight one actually works.

If you borrow $ 70,000 for seven years at 7% (84 payments) will pay $ 301.85 per month.

If you order a $ 20,000 deferred loan at 7% for 7 years and you start paying after graduation then you might have a problem. When you start paying back you will notice that the starting point has changed and now have to pay 2,6441.08. This means $ 399.07 per month.

So you can see how payments affect your life after graduation. It is recommended for the use of student loan calculator to help you cope with the monthly payments after four years of college are over.

Consider another example. You get an 10-year loan for $ 35,000 with an interest rate of 7% and establishing the first payment after you finish your college years. When the first payment will have to pay $ 46271.89 ($ 537.26 per month).

But things are not always so simple. You may have to borrow in each of the four years of school and that means there is a strong possibility that the deferment period will not be the same. In the end, you will have a $ 20,000 amount deferred for four years, $ 20,000 for three years, and so on.

To summarize all that, before requesting a student loan, you must be take into account the period of deferment. If the final amount will be very high and will affect its financial position for many years.