6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

6. Play the balance transfer game.

Taming the debt monster is mostly about a mindset to be free of debt, and discipline.

Don't Feed The Debt Monster

The balance transfer game is a shell game, that seems to make a lot of sense on the surface.   There's a zero interest, or low interest card you can apply for.   Get it, and move all the debt from your high interest card to the low interest card, planning to pay it off in the 6 months low interest window.

The problem here is that you now have 2 cards which you can stack up debt with.  The low initial interest rate card is rarely paid off in the 6 month window.  The card issuers know this, that's why they offered it to you.   With the low interest card now maxed by moving all the high interest debt to it, you begin to re-use the high interest card as it now has breathing room.  Once the no interest window is over.. BAM... you now have 2 high interest cards, with balances, that you are paying for.

If you are given the opportunity to get a no interest introductory card, chances are that it is because your credit has improved enough that a card issuer is prepared to take additional risk offering you more credit.  Perhaps, your present card holder is not prepared to lose your debt business.   Try calling your current card holder, and explaining that you have another card offer, and asking for a reduction in interest to keep you as a customer.

It doesn't always work, but chances are it will work more often than thinking you will pay off the low interest card in time to not be paying on 2 high interest cards instead of one!

6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

5.  Don't Create A Budget!

"How can I blow my budget, if I don't have a budget?"
 Famous last words, for a fast trip to the debt mill.

If you create a budget and stick to it you have a guideline to know when you are off track.  You will see the progress you need to make, because you planned it.  When you fall off the plan, you will see clearly how little, or how much it takes to get back on track.

6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

4. Ignore your credit report and credit score.

Ignoring your credit report is the same thing as saying that you totally trust the folks issuing your credit -  what the heck, let them run the show  -  they certainly have your best interests in mind!  WRONG!

Here's the truth of the matter.   The FTC believes that over 25% of all credit reports contain errors... that's 1 in 4.  Gather 4 friends together.. one of you has an error on their credit report.

Not only do things go wrong, but sometimes there are way past due bills you have legitimately forgotten about, maybe someone gets ahold of your credit card... Not knowing your credit value puts you at a huge disadvantage.

A very rational strategy is to get your free credit report - you are entitled by law to a free report every year.

Take a look at it, and dispute any mistakes.  Then one by one, find the items on that report that hurt you the most and go to work on them.  What you will find is that as your credit score improves, you will be able to negotiate for cheaper credit.   Move your score in the right direction, and next thing you know, you get offered a cheaper credit card.  Pay off the expensive card, and use the cheap card, and instantly you have saved money!   Hold off on major purchases like a house or a car until your score is stronger, and save more money over a long period of time.

Of course, if you don't know what your credit looks like, you are flying blind - and are easy prey to predatory lenders... Get your free credit report - its easy.  Manage your credit and start having more money available to you at the end of ever month.

6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

3. Overspend or simply spend spending future earnings that haven't been banked yet.

That contract is going to come in next month with a big fat commission, so I can afford to buy the television today... right?

One of life's little realities are that the money doesn't always come, or come when you expect it, but the credit card bill is always on time.

Another trap is that the money comes, but before the credit card bill arrives, and gets spent on a celebratory trip, and then the credit card comes, and there's no extra money to pay it.

One of the best strategies is to spend when the money gets there, don't spend ahead.

6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

2. Making only the minimum payment on your cards.

The simplest way to be sure to stay maxed out in debt?   Make your minimum payments.  The only thing worse, not making a payment at all.

Face it they system is rigged.  The system is designed to make it easy as possible for you to make a nominal payment "just this once".   And when that happens, you are  are paying the maximum amount of interest to the bank or card issuer.

Minimum payments generally go towards the interest charge, and perhaps a minuscule amount actually goes towards paying off the principal.

Pay off the most you possibly can.  Sometimes if you just work on one card, and pay the most you can, and once that one is taken care or, focus on the next.  When faced with the "I have to make just a minimum payment this month" syndrome, ask if you could actually squeeze out even an extra $5.   Avoid the minimum payment as much as you possibly can.

6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

1. Carrying too many credit cards.

This is your number one way of drowning in debt.

The joy of your first credit card, someone saying you are worthy, worthy to slap down a card and pay for lunch.  Then, when you dig yourself out of your first credit card, there's that thrill when the first credit cards agree to give you a card again.. for maybe a $300 limit.

These card people are not in the game to make you feel good - they charge amazing fees and huge interest rates.

Having more cards than you can keep track of leeds you to spending more than you should, and it makes it near impossible to budget and make payments!

A good Rule of Thumb is to have 3 cards, including store, gas, or specialty cards.  Just 3 - how's that for discipline!

Got More?   Take them out of your purse, or wallet, stuff 'em in a drawer, and STOP USING THEM!

Best to cancel them all together, but if you aren't going to do that, at least work on paying them off and not using them while they have an extended nap in your drawer.

Marcadis Singer PA

5104 South Westshore Blvd.

Tampa, Florida 33611

http://www.marcadislaw.com

(888) 547-1881 (813) 288-1881

Don't Fall Into More Debt Than You Can Handle!

Improve Your Credit Score, even when you have Bad Credit!

Small, and sometimes significant, improvements to your credit score can be made with some relatively simple changes in behavior.

Always be cautious with your new found credit worthiness, that it doesn't end up leading you to even more credit problems.   Once your credit improves, instead of rushing out an getting things that won't help your financial future, consider using your new credit power to renegotiate your current credit, with lower interest rates so that your monthly bill is lowered, and contribute the difference to debt reduction.

It pains us, as debt collection attorneys in Florida, to see people that could be making small incremental changes to their credit behavior, that could ultimately find themselves out of debt.

Here's the 4 simplest ways to improve your credit.

1. Check your credit report for mistakes.

Yes, there's mistakes, there's identity theft, people forget to take paid bills off your record, you can track when certain debts ere set to expire and plan your credit accordingly.  How can you improve something without measuring it?   Check your score often!

2. Always pay bills on time.

A $200 Power bill, with a $50 late fee, and a $35 bounced check charge, followed by a $100 reconnect fee.... and your $200 power bill not only hurt your credit, but it cost you an extra $185, money that could have been used to help pay down other debts.   The world is far less expensive when you pay on-time.

3. Reduce your outstanding debt.

Even $10 extra with every payment.  The idea is lower the income to debt ratio.  Everything you pay, but don't consequently spend the new credit, will lower your credit score.  Making minimum credit card payments will sometimes not even cover your credit card fees and interest charges.  That means making minimum payments could even hurt you credit scores as the ratio of credit to available credit never changes, never goes down.

4.  Negotiate Credit Limits.

Here's a tricky one, because if a credit agrees to extend you more credit, the knee jerk want, is to go spend more money.  What we really want to see is a creditor granting you more credit, but you don't increase the amount of debt.  This increases the ratios of debt to available credit, and makes you look better on paper as you go and apply for that mortgage.

Try calling your credit card companies once or twice a year and asking for a credit increase.  A no answer won't hurt you, a Yes answer, will improve your credit score, as long as you are disciplined.

The simple truth is people with better credit scores, pay less for their credit.  If you were to diligently work on lowering your scores, and leveraging those scores into lower credit costs, the savings could be re-invested in paying off even more debt.. and in that never ending circle you find yourself on the road to responsible credit use, and a great credit score.

6 Sure Fire Ways To Get Upside Down in Debt!

No body likes getting the call from a debt collection attorney.  We know that!  Here's 6 sure fire ways though to make sure that we come calling you!  Avoid these, and manage your credit well, hopefully we will never have to hear from each other.

1. Carry too many credit cards.
2. Make Only Minimum Monthly Payments.
3. Overspend or simply spend spending future earnings that haven't been banked yet
4. Ignore your credit report and credit score.
5. Don't create a budget.
6. Play the balance transfer game.

In future posts, we'll expand on each of these.  We Truly don't like it when simple lack of attention leeds to involving us in the debt collection process.  It isn't pleasant, and it is avoidable.

Have a great weekend.

7 Credit Falacies!

So much misinformation about what impacts your credit score.

We'd like to set the record straight on 7 Credit Fallacies.

Bottom Line, as much as possible, be responsible, don't run up debt you can't afford, and live up to your obligations.

Fallacies

1.  The feds own credit bureaus.

HOOEY - the 3 major credit bureaus Experion Equfax and TransUnion are for profit public companies.

2.  Your Education Impacts your Credit Score.

As if someone would downgrade Bill Gates' credit because he didn't finish Harvard!   Credit scores are a measurement of your credit risk, and does not look at your education, race, bender or nationality.

3.  Multiple Inquiries Hurt your Credit Score

This used to be the case, but when you shop for a major purchase, it is normal to have a brief period with multiple inquiries as you find .. say.. financing for a car.   Multiple requests in a short period are often treated as as single inquiry, and have nearly no impact on your score.

4.  Checking your own credit report hurts your score.

FALSE!  In fact, savvy credit management dictates that you DO check your credit reports to be sure that everything there is accurate!

5.  It costs to see your credit history.

NOPE - you get - by law - a free credit report every year by going ot http://www.AnnualCreditReport.com

6.  Credit Counseling hurst credit scores

Getting help does not impact your score, and a good credit counselor can help you budget, get your finances under control, and improve your score.

7.  It Takes Years to change your credit score.

Your FICO score is updated monthly, and can be continuously and constantly improved and updated.  manage your credit wisely, and watch that score climb.

Keep Holliday Spending On Track

Intelligently managing your credit over the holiday season is the best way to make sure you don't have to deal with debt collection attorneys next year!  Here's 8 new tops for keeping your holiday budget under control.

Happy Holidays from Marcadis Singer, PA, Debt Collection Attorneys, Tampa and all of Florida.

1. Set a Budget for your holiday spending
2. Save beofre you shop
3. Make a list and keep to it
4. Pay cash, or pay credit cards in full.. pay 'em off!
5. Keep track of what you spend
6. Shop Early
7. Look for sales and discount ALL year
8. Look for ways to reduce your holiday travel expenses, either booking early, or last minute.

Have a joyous Holiday Season

Marcadis Singer, PA

Debt Collection Attorney's Tampa

http://www.marcadislaw.com

The Zen of Debt Collection

1. "HELP!" BY THE BEATLES

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

1. "HELP!" BY THE BEATLES

Finally, no matter how many precautions are taken, allegations of wrongdoing and misconduct at the office holiday party may still occur. Like all complaints, these should be taken seriously. The company must engage in prompt and thorough remedial action to address the issues, to help limit its liability and to avoid even the slightest perception of retaliation against the complaining employee or any employee who participates in an attendant investigation. When in doubt, speak with outside counsel about how to best address the situation.

A happy and lawsuit-free holiday to you and yours!

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGX1jBDa 

2. "LEAN ON ME" BY BILL WITHERS

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

2. "LEAN ON ME" BY BILL WITHERS

There is no time like the office holiday party for managers and supervisors to step it up and serve as role models for the workforce to lean on. In advance of the event, the company should remind all managers and supervisors to be on their best behavior. By acting as examples, supervisors and managers can set the professional (albeit festive) tone for the evening.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGWMz6gd

3. "HOME" BY CHRIS DAUGHTRY

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

3. "HOME" BY CHRIS DAUGHTRY

If liquor is served, employers would be prudent to provide taxi or shuttle service home for those in attendance. Not only will this mitigate the company’s potential liability in the event of a car accident, but it will also deter employees from “crashing” with coworkers who live locally. The prospect of having to find one’s own way home when free transportation is available should also discourage employees from organizing after-parties. This perk will have the added benefit of encouraging attendance and instilling goodwill.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGW5A0T5

4. "HUNGRY EYES" BY ERIC CARMEN

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

4. "HUNGRY EYES" BY ERIC CARMEN

Just because an employee may “feel that magic” with a coworker or client doesn’t mean the feeling is mutual. The office holiday party—no matter how much liquid courage one has—is certainly not the place to find out if “this love is meant to be.” To the extent that a company has an antifraternization policy, this should be distributed along with the other policies in advance of the party. Not to mention that long, lascivious stares or “Hungry Eyes” have no place in the workplace, or out-of-office work functions, and this should be made clear to all employees in antiharassment trainings and policies.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGVojqtS

5. "DANCING QUEEN" BY ABBA

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

5. "DANCING QUEEN" BY ABBA

While some employment attorneys (and personal injury lawyers, for that matter) might advise against having a dance floor at a work function, we are personally suckers for a good—albeit work appropriate—dance party. Consider speaking with the DJ or band about playing music that will encourage line and group dances. Think: "Macarena" or "Sweet Caroline!" Also, keep an eye on the crowd. If the dancing starts to get more than PG, have the DJ or band take a break, and suggest that employees remember to keep their hands to themselves.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGVLYd5g

6. "RAISE YOUR GLASS" BY P!NK

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

6. "RAISE YOUR GLASS" BY P!NK

As any host knows, nothing gets a party started like the world’s oldest social lubricant. Unfortunately, drinking in excess also creates the potential for problems. If the company decides to serve liquor at the party, be sure that food is also served, as well as plenty of nonalcoholic alternatives.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGV3hhZd

7. "Under Pressure" by Queen and David Bowie Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGTvQXKh

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

7. "UNDER PRESSURE" BY QUEEN AND DAVID BOWIE

To avoid the risk of wage-and-hour claims by nonexempt employees (and remove any pressure to attend from those who prefer not to socialize with colleagues), make it clear either in the invitation or elsewhere that attendance is optional—not mandatory.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGTxwmIb

8. "Sexy and I Know It" by LMFAO Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGTgjCMm

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

8. "SEXY AND I KNOW IT" BY LMFAO

The office holiday party is not an opportunity to show off one’s latest clubbing threads. Take the opportunity to remind employees of the appropriate dress code on the invitation or under separate cover. By scheduling the event for a weekday, employees may also be dissuaded from changing out of their work attire before heading to the party.


Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGTkwsku

9. "MANIC MONDAY" BY THE BANGLES

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

9. "MANIC MONDAY" BY THE BANGLES

When planning the day to hold the office holiday party, consider not hosting the party on a “fun day,” such as a Thursday or a weekend. By picking a day early or in the middle of the week, employees will be more likely to monitor their behavior, recognizing that much of the work week is still ahead of them, and will be less likely to call in sick the next day, knowing that they will have to return to work before the week is out. Alternatively, a company may opt to host a daytime rather than evening party during normal business hours as another way of keeping the revelry under control.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGTPTzgB

10. "BLURRED LINES" BY ROBIN THICKE

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o


10. "BLURRED LINES" BY ROBIN THICKE

Each year, the office holiday party season provides an excellent opportunity to remind employees of the employer’s antiharassment and workplace conduct policies, which apply to out-of-office functions such as the company’s holiday party or any other social gathering employees attend together. In the weeks leading up to the party, an email should go out to every employee attaching the applicable policies and outlining the company’s expectation that employees will conduct themselves professionally and in accordance with these policies. This email will clearly define the lines not to be crossed at the event.

A series - Holiday Office Party

This is just so funny, that we have to offer it here, unedited and uncut.   The full article can be found here.

http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&kw=Top%2010%20Hits%20for%20a%20Liability-Free%20Holiday%20Party&et=editorial&bu=Corporate%20Counsel&cn=20131209&src=EMC-Email&pt=Afternoon%20Update&slreturn=20131112074558



 Marcadis Singer PA debt collection attorneys in Florida would like to present, in a 10 part series...

The Top 10 Hits for a Liability-Free Holiday Party.

With every holiday season comes the time-honored tradition of the office holiday party. A chance for companies nationwide to thank their workforces—and for employees to kick back with coworkers, clients and customers to celebrate the year’s accomplishments—these delightful functions can sometimes turn frightful for employers if they’re not well-managed. In the spirit of the year-end “Top 10” playlists, this article provides our own playlist (in no particular order) of do’s and don’ts to minimize the risk of problems.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSYCpxh

International Association of Credit Collectors Award

Marcadis Singer, PA would like to offer up our congratulations to Tom Hamilton, American Lawyers Quarterly Cleveland.  He has been honored with the 2014 IACC Leadership and Distinguished Service award.

The IACC award is bestowed on the member who "most embodies the work of the commercial collection industry.

Nominated and voted on by his peers, Hamilton will be presented this prestigious IACC award at the
annual President's Banquet on Jan. 15, 2014, beginning at 6:30 p.m. local time. This dinner will take place immediately preceding the IACC Annual Convention.

Congrats Tom, and well deserved.

2. "LEAN ON ME" BY BILL WITHERS

Top 10 Hits for a Liability-Free Holiday Party

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGSybg1o

2. "LEAN ON ME" BY BILL WITHERS

There is no time like the office holiday party for managers and supervisors to step it up and serve as role models for the workforce to lean on. In advance of the event, the company should remind all managers and supervisors to be on their best behavior. By acting as examples, supervisors and managers can set the professional (albeit festive) tone for the evening.

Read more: http://www.law.com/corporatecounsel/PubArticleCC.jsp?id=1202631504382&Top_10_Hits_for_a_LiabilityFree_Holiday_Party#ixzz2nGWMz6gd

Progress in Debt Collections from the EU

Marcadis Singer PA are debt collection attorney's, focussing our efforts in Florida.

We have often been called on to help overseas firms collect debts from debtors that have moved to Florida.  Navigating the many complexities of laws in Florida can often be challenging, and we enjoy these partnerships.  Florida is known internationally as a Debtors State, appropriate legal counsel can help expedite the payment of debts, even to overseas companies.

With this experience in debt collection for overseas creditors, our interest was piqued, at a recent article about tremendous progress make by the European Commission Justice Ministers adoption of a proposal that will fundamentally shape the way cross-border collection of debts can be secured in the European Union.

Well done to our friends overseas, and we wish you the best of success as you work to reach final agreement on the cross-border recover of debts law.

A brief article can be found here.

http://www.neurope.eu/article/council-agrees-cross-border-recovery-debts

Debt Scams out of Indian Call Centers

Marcadis Singer, PA are professional debt collection attorneys in Florida.   You all know that, we have said it over and over again in our posts, but we'd like to focus for just a moment on the key word in that statement... PROFESSIONAL.

As Attorneys, we are held to very high professional standards in the collection of debt.  We treat our creditors and our debtors with respect, and the utmost of professionalism

For lack of a better word, it flat out infuriates us when we read about Debt Collection Scams run out of offshore call centers.   We applaud the Federal Trade Commission for taking action this week against just such a scam.  We aren't going to mention names, but provide a link for those interested in the alleged perpetrators.

http://www.globalgujaratnews.in/article/us-stops-debt-collection-scams-through-indian-call-centres/

What we find most disturbing is that this is not the first, or even the second time this particular organization has come under fire.

Marcadis Singer PA are proud of their active community participation, of giving back to the community that supports us, of standing with our national associations that encourage, even demand professionalism of their members.

Here are a few quotes from the article, quotes that would make any "professional" debt collection attorney's blood boil!

"The FTC said it had imposed a judgment of more than $25.3 million against the companies, which also used a phony interest rate reduction scheme between January 2010 and August 2011.

The operation's callers used threats, lies, and abusive tactics to collect debts from consumers who had previously applied for or received loans from online payday loan companies and had supplied sensitive personal financial information that later found its way into the hands of those involved with the scam."

When you need to final resources of an attorney in Florida, whose practice focusses on Debt Collection, we would encourage you to visit our website, evaluate the professionalism our firm, review not just the credentials, but the philanthropy of each our debt collection attorneys.  We will represent you with the utmost of professionalism.

Simple Planning for the Holiday Season.

Florida Debt Collection Attorneys, Marcadis Singer PA Offer simple advice this holiday season.

It might sound counter-intuitive that debt collection attorney's should be offering advice on how to stay out of debt, however it is heart breaking for us to see all the credit card debt come to us for collection that is the result of simple poor planning for the Holiday Season.

Avoid us,  and gift responsibly this season.  Here's our pointers

• Create a budget
• In a relationship? Set your budget together
• Avoid credit 
• Save Early, plan now for next year

Simple common sense steps.  Your family will remember the love of their family, long after they have forgotten the fun of the gift that couldn't be afforded.

As we enter this gift giving season, please, gift wisely.


Merry Christmas
Happy Hanukkah
Happy Kwanzaa

Zen and Debt Collection

I was reading a fairly lightweight  article on the web regarding the current state of Debt Collection Practices in the US, and was struck by their statement

"Debt collection leaders need to become more aggressive when it comes to policy making, employee training, records governance and general customer relationship management." 

There is, of course, a large dividing line between a debt collection agency, an in-house debt collection department, and a debt collection attorney.  We all fall under the broad heading of "Debt Collection Leaders".

With the news lately awash of instances of unscrupulous fake collectors trying to cash in on Christmas Money, the Federal Trade Commission and Consumer Financial Protection Bureau publishing tumultuous results on customer complaints about the debt collection industry, I am given pause to the statement in MircoBilt.

• Policy Making
• Employee Training
• Records Governance
• Customer Relationship Management.

These are the hallmarks of our law practice, focussed predominantly on debt collection.  As Attorney's we are held to a much higher standard, and we are very proud of how hard we work to help our client's internal receivable management processes.  We are quite proud of the level of internal training we provide our Florida Debt Collection Attorneys.  And holding the debtor along with our client with the utmost of respect is a cornerstone of our practice.

The bottom line is that there have always been those who would borrow with no intention of paying.  We consider that theft.  We also consider that these are the minority of debt collection cases.  Most often, the hardships of the economic downturn have simply put the squeeze on many individuals and businesses.

What is equally obvious, is our economy will not recover if our businesses cannot grow because they are saddled with the debt from advancing goods and services to their customers.   As debt collection attorneys, it is our job to reconcile these issues, and get the money to the businesses that are owed, while doing our best to preserve the dignity of the debtor that has run into hard times.   The rebound of our economy, depends on practices like ours, to continue to feed the economic engine that grows our business world.

It is an honor to serve our clients through:

• Policy Making
• Employee Training
• Records Governance
• Customer Relations Management.

Marcadis Singer PA
Debt Collection Attorneys for the state of Florida.

Business to Business Debt Collection Trends

From Second Quarter 2013 to Third Quarter 2013, the quantity of commercial debt collection accounts increased by roughly 14.5%, for members of the Commercial Collect Agency Association of the Commercial Law League of America.   Samplings from the CCAA are likely to be a good bell weather for the collection industry in general.

The dollar value of the commercial debt placed for collection, however, even with the increase in the number of accounts, decreased by .7%.   Taking the increase in quantity, and decrease in value,  CCAA members report that a typical account revenue to the firm decreased by around 14%.

A great synopsis of the CCAA survey can be found on the Inside ARM Website.

http://www.insidearm.com/daily/commercial-b2b-receivables/commercial-debt-collection/commercial-debt-collection-placements-increase-in-q3-but-still-down-significantly-in-2013/

Marcadis Singer PA, debt collection attorneys in Florida, are proud to be a part of the Commercial Collection Agency Association.  This affiliation is a voluntary one, and reflects how our values as a Legal Firm focussed on debt collection are in synch with the values of the CCAA.

The Commercial Collection Agency Association (CCAA) is an association of commercial collection agencies that have been CERTIFIED by the Commercial Law League of America. They represent the leaders in the commercial collection or business to business collection industry, handling about sixty-five percent of the commercial accounts placed for collection. The Commercial Law League of America is the nation’s oldest creditors’ rights organization, founded in 1895.

Thanks to all the members that contributed to this survey.

Great Infographic - Florida Debt Collection Attorneys

Marcadis Singer, PA

5104 South Westshore Blvd.

Tampa, Florida 33611

Courts find in favor of a Nebraska Debt Collector

As professional debt collectors in Florida, we are a very highly regulated industry.  As attorney's that focus on debt collection Marcadis Singer PA is subject to even more structure than the typical debt collection firm.

We applaud the decision on the part of the US District Court in Omaha Nebraska's decision to dismiss charges that a standard letter issued by the debt collection firm was "false and deceptive"

Specifically the suit alleged that  language in a letter from the debt collector stated

“Unless the debtor disputes the debt within 30 days after receipt of the notice, it will be assumed that the debt is valid.”

In its dismissal order, the district court found that nothing in the notices were “false or deceptive.”

“Even if (the plaintiff) was misled by the notice, as she contends, and believed that the county court would assume her debt was valid if she did not respond within thirty days,” the order read, (according to the Omaha World Herald), “she was in no way misled to her detriment, and the notice was not materially misleading.”

We applaud such straight forward decision making on the part of our court system.

Marcadis Singer, PA

5104 South Westshore Blvd.

Tampa, Florida 33611

Debt Collection Scam in Texas

Marcadis Singer PA are debt collection attorneys in Florida.   We present the following because it is imperative that those that work with us, as debtors and creditors, know how to discern a legitimate debt collection attempt from a debt collection attorney, from what some of the film flam trying to make a buck scam artists are perpetuating.

The Texas BBB has received reports of "supposed" debt collectors threatening debtors with Jail.  These shady operators call well equipped with a great deal of personal information about the individual, which makes them sound "legitimate".

Rest assured, no competent debt collection attorney will ever call you and threaten you with Jail.

When you are contacted by Marcadis Singer PA, or if you engage Marcadis Singer PA to assist you in the collection of a debt, we will use only the most professional and respectful communications.

The article is a worthwhile read.

http://watchyourbuck.com/2013/11/20/phony-debt-collectors-threaten-consumers-with-jail-dont-fall-for-it/

Marcadis Singer, PA

5104 South Westshore Blvd.

Tampa, Florida 33611

Fair Debt Collection Practices Act (FDCPA) takes a look at digital

There is an abundance of legislation making news in the debt collection industry.

To be sure, every industry has good players, and bad players.   In every industry, the bad players get far more press.  However, amid the flurry of activity trying to make the process of collecting debt more fair for both creditor and debtor, there is also a call for information and opinions about how newer and more modern communications technologies should be impacted in the rules around debt collection.

It seems somehow just not that long ago when it was a real consideration for any business wether or not to have a fax machine, and today they are mostly passé.  I remember our own internal struggles back in the day with should we even allow email in the workplace, or internet access.  Again, those conversations somehow seem very old and far away.

That the CFPB has announced an advance notice of proposed rule making in the Feerla Register is totally and entirely appropriate.

Technology marches at a furious and relentless pace.  Without clear guidelines on what is and is not appropriate, especially for attorneys where their membership in the local bar might be at stake, is imperative.

The Bureau is looking at these primary areas when it comes to emerging communications vehicles:

• The types of technologies that debt collectors regularly use to communicate or transact business with consumers;
• The types of collection technologies that merit the application of FDCPA rules regarding “unfair, deceptive, or abusive acts or practices”;
• Emerging communications technologies that might materially benefit or harm consumers or debt collectors in the absence of further guidance or rulemaking;
• The complications or compliance issues that social media present for consumers and debt collectors; and
• The costs and benefits of using “mini-Miranda” warnings in communications over social media.

In addition to how the debt collection community communicates with their debtors, The CFPB is also evaluating the new means by which data is being conveyed.   Once again, the Debt Collection Attorneys at Marcadis Singer, PA believe it is entirely appropriate that we embrace and understand the new technologies, and have clear cut guidelines to help protect both creditor and debtor.

In terms of data transfer the following are under consideration:

• The availability of data about the types of information that are transferred to third-party collectors upon the purchase or placement of debt;
• The effect of information about transferred debt on the cost of debt that is sold;
• The current or potential systems and controls that creditors employ or could employ to monitor or oversee debt buyers;
• The type and nature of information that debt sellers either retain and/or transfer to debt buyers;
• The extent to which debt owners transfer or make available to third-party collectors or debt buyers information relating to: (1) disputes, (2) prior correspondence with consumers,(3) attorney representation, and (4) a consumer’s language proficiency, servicemember status, income source, or deceased status; and
• The access rights and limitations of debt collectors to documentation related to the debt, such as the debtor- creditor account agreement, account statements, and similar documents.

If history teaches us anything, these conversations will not be quick.   They are, however necessary to keep the debt collection industry honest, vibrant, fair and secure.

More information about this initiative can be found at the link below.

http://www.lexology.com/library/detail.aspx?g=91919694-f7e1-47c3-9a20-f5b6cfffd8b4

Marcadis Singer, PA

5104 South Westshore Blvd.

Tampa, Florida 33611

5 ways to collect a debt and get your money back Summary

There are 5 main ways to approach debt collection.

• Small Claims Court
• Mediation
• Arbitration
• Collection Agencies
• Credit Action

It does not matter which way you will choose, you will need to know just how far to take things. For instance, although many people may plead poverty outside the courtroom, take into close consideration what they say on the legal record. You will get a clear suggestion of just how much money the other party actually has and whether you should go after the full sum or not. If there is indication of sufficient belongings, chase your fair share. Nevertheless, if legal papers show little in the way of funds and an ex-client of yours offers you 50 cents on the dollar, it might be wise to take whatever you can get.

It is also very important to know when to bring in an attorney. For example, if the money you are fighting about is considerable, something like beyond the purview of your state's small-claims guidelines then an attorney might be worth the extra cost. Likewise, pay attention to your opposite number's outlook, particularly if there is a large sum of money at stake

Marcadis Singer, PA stands ready to assist you in all of your debt collection needs in Florida.

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Debt Collection Attorneys
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States in the Debt Collection Industry

As debt collection attorneys in Florida, we are watching devlopements in Lousiana fairly closely.

Starting in 2014, Louisiana begins using a new state run office called the "Office of Debt Recovery" to help collect  delinquent accounts.  Quoting local News Channel 8 KNOE

Under the law, the Office of Debt Recovery can revoke and suspend state-issued licenses, offset tax refunds, intercept accounts payable and take dollars from some bank accounts to pay off debts.

We reserve our oppinion on wether this is a good or a bad move on the part of the state, and will be watching the relative success or failure of the effort.    Please, feel free to comment and leave your oppinion of this issue below.

The Law Office of Marcadis Singer, PA is not responsible for any comments posted.

Marcadis Singer, PA

5104 South Westshore Blvd.

Tampa, Florida 33611

Taking Credit Action to collect a debt

If you are not capable to get back the money owed to you, you can think about calling your state's credit bureau.

They will provide you with the means needed to make the bad debt part of your opponent's credit record. While it may seem like nothing that could really help you right now, it may create valuable leverage some time down the line when a bank or other lender refuses a loan because of the bad debt to your opponent.

That may hasten your less-than-reliable client or buyer to give back what is owed you to clear up the credit report.

Sometimes, collections are far better left in the hands of a professional.  If you need legal assistance in debt collection, especially in the state of Florida, don't hesitate to give us a call.

Marcadis Singer, PA
Debt Collection Attorneys, Florida

Collection Agencies for Debt Collection

Collection agencies are businesses that can be hired to try to get back the debt and you’ve probably heard about them already. Still, many collection agencies will only take cases that offer a rationally decent chance of success. Furthermore, they can be quite expensive. Fred Steingold, author of "Legal Guide to Starting and Running a Small Business" says "Some collection agencies will charge up to 50% of any amount they collect."

Marcadis Singer, PA  frequently assist debt collection agencies once they have exhausted their debt collection efforts, and need to move the matter to the legal arena.  We also work for other attorney's in collection of debts.

Marcadis Singer, PA
Debt Collection Attorney's in Florida

Debt Collection Through Arbitration

Arbitration is an option of mediation and it lets businesses in a dispute work with a neutral authority to hear both sides of the case.

The procedure is faster and more cost-effective than conservative legal channels, exactly like mediation; undeniably, your Better Business Bureau might offer volunteer arbitrators.

Nevertheless, unlike mediation, it's the arbitrator who makes a decision, a final ruling that both parties are bound to honor. If you would like more information about arbitration or if you need to locate an arbitrator please go to the American Arbitration Association's website.

If arbitration does not look like a rational solution for you, our law firm focusses on Debt Collection in Florida.  Please give us a call.

Debt Collection Through Mediation

This type of dispute determination can take a couple of forms. For example, certain minor claims courts offer mediators. Instead of hearing a case, a judge may direct parties to work with a mediator to see if they can agree on a settlement short of an actual court verdict.

In other circumstances, the parties involved in a dispute may hire a mediator to help work out an appropriate agreement. While mediation can be much more cost efficient in comparison to a formal legal action (fees are typically split between the parties) and much faster, it is not 100% effective. A mediator is the channel for better communication, but it is up to the two parties involved to willingly agree to any kind of settlement.

There are times though when push comes to shove.  If you are in St. Petersburg, or anywhere else in Florida and need the services of our Florida Debt Collection Law Fim, please don't hesitate to call us.

Marcadis Singer, PA

Debt Collection in Small Claims Court

This option can be very practical for resolving many disputes, mainly if the amount of money involved is somewhat minor. All you need to do, in most states, is contact the Small-Claims Court closest to you and ask for the necessary paperwork to file a claims action. It is typically a somewhat simple process, and your court may offer information to help you get through the whole procedure. You will need to file the paperwork, make sure the opposite party is served and the court sets a date to hear the case. Small-Claims Court has numerous advantages.

Firstly, you don't need an attorney to file the paperwork or even represent you in court. Furthermore, filing fees are generally small. Some courts charge as little as $40 to take care of the paperwork.

The whole process is really intended to run quickly. Verdicts are frequently handed down on the same day of the hearing. Nonetheless, there are some distinctions to keep in mind. The first thing is that the amount you are able to file for differs from state to state. For example, in Maine, the maximum is $4,500 for a claim. In Rhode Island, the limit goes down to $1,500 per claim.

Additionally, the responsibility is on you to make your case. You will have to present evidence, documents, and other forms of proof.

Sometimes, it is easiest to simply work with a debt collection professional.

The debt collection attorneys of Marcadis Singer, PA in Tampa Florida are ready to assist you in your debt collection needs throughout the state of Florida.

5 ways to collect a debt and get your money back

In today’s world of business you can’t be careful enough… In many situations, even people that tried to be very cautious got deceived. A client, maybe even a supplier, which seemed so trustworthy and reliable didn’t keep up their end of the deal.

Who will have to pay from their own pocket, is potentially you. Perhaps a client owes you money for products or services or a supplier has accepted the payment but didn’t deliver the goods…
The excessive attorneys' fees might sometimes exceed what is actually being owed. In many cases, there are ways to pursue legal action to collect what's owed to you without needing a lawyer to represent you.

• Small Claims Court
• Mediation
• Arbitration
• Collection Agencies
• Credit Action

It does not matter which way you will choose, you will need to know just how far to take things. For instance, although many people may plead poverty outside the courtroom, take into close consideration what they say on the legal record. You will get a clear suggestion of just how much money the other party actually has and whether you should go after the full sum or not. If there is indication of sufficient belongings, chase your fair share. Nevertheless, if legal papers show little in the way of funds and an ex-client of yours offers you 50 cents on the dollar, it might be wise to take whatever you can get.

It is also very important to know when to bring in an attorney. For example, if the money you are fighting about is considerable, something like beyond the purview of your state's small-claims guidelines then an attorney might be worth the extra cost. Likewise, pay attention to your opposite number's outlook, particularly if there is a large sum of money at stake: "If you are dealing with someone who is obstinate or difficult, you may want to get a debt collection attorney involved,

We will be exploring each option in new posts.

Ft. Lauderdale Author on Consumer Debt

There is great concern that as we exit this recession, and find a time of greater prosperity, that people will go back to their previous spending patterns, and end up once again in the debt trap, dealing with debt collectors and debt collection attorneys.

We found this great article from the Ft. Lauderdale Sun Sentinel about a local author, +Howard S. Dvorkin, who has written a book to ward this off.

Quoting from the article...

"So Howard S. Dvorkin, who started his nonprofit to help free people of debt, has written a new book, "Power Up: Taking Charge of Your Financial Destiny," published by John Wiley & Sons, to try to give people a new mindset to resist overcharging..."

We haven't read the book, be we are aligned with the premise that consumers must control their debt, or may face having to deal with our industry, debt collection agencies, or debt collection attorneys in Ft. Lauderdale, or around the state of Florida.

Our hat is off to anyone making efforts to help educate consumers on controlling debt.

The Collections Industry and Creditors Liability

More and More legislation and court rulings govern the business of debt collection.

Businesses seem to rarely have the resources to keep up with the growing burden of legalities surrounding Debt Collection.

A recent ruling in United States Court of Appeals for the Second Circuit appears to to make it even more difficult for creditors, making them liable in some cases under the FDCPA "false name exception."

Please read this excellent article for more information

http://www.mondaq.com/unitedstates/x/275186/trials+appeals+compensation/A+Creditor+May+Be+Held+Liable+Under+the+FDCPA+Even+if+it+Hires+a+Third+Party+to+Collect+on+the+Debt

Our law firm has a focus on debt collection in St. Petersburg, Tampa, and around the state of Florida.

When someone owes you money, and you need to collect a debt, it is becoming more and more important that whomever you engage (debt collection agency, or a law firm specializing in Debt Collection and Debt recovery) i swell versed on the most recent, and ever changing legal landscape around the collection and recovery of debt.