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Business debtors should seek professional help.

NewsUSA) - For any business, expenses add up. Owners must juggle payrolls, rents, taxes, and supplier debt -; along with their business loans. Surprisingly, many business owners do not realize that proven steps are available to assist their dilemma of what to do when bills can’t be paid.

In a tough economy, a business’s finances can change by the hour. Struggling business owners dread facing creditor calls. Owners need to change their mentality; yes, debt can be a problem, but it’s a problem that can be approached and solved with strategic thinking.

Professionals have come up with six steps that help identify plans for business debtors to use while increasing cash flow. Business owners in debt should discuss these steps with their lawyer, accountant or trusted advisor to help determine the most beneficial plan.

Listed from most to least desirable are the courses of action your business can use to resolve its debt problems.

- Rehabilitation. Business owners can save their businesses and pay their debts through extreme cost cutting.

- Refinancing. Business owners can seek new terms for loans, like lower payments that can help free up capital for their business.

- Debt resolution. Owners can delay or attain a more satisfying settlement with their creditors through use of an Authoritative Third Party.

- New equity. Businesses can exchange ownership for capital.

- Sale. Owners can sell their business and use the money to pay off debts.

- Liquidation. Owners can sell parts of their business or their whole business or declare bankruptcy, which sadly will affect owners, employees and their spouses.

Services exist to help businesses recover from debt as an alternative to bankruptcy. One company, Performance Source Inc. (www.performancesourceinc.com), negotiates directly with creditors, enabling a business owner to save time and money and reduce stress. Negotiation results in debt being reduced so that the business may continue and grow with a cleaned-up balance sheet.

Business owners should reach out for professional help before debts become unmanageable. With the right service and correct plan, a business owner can minimize debt while allowing him to do what he does best -; running his business.

As prices increase, money buys less. But one dollar a day can become a nest egg in an IRA.

(NewsUSA) - Americans across the country have noticed that when it comes to groceries and gas, their money purchases less.

The amount of money that used to purchase two gallons of milk now purchases one. Gas prices have almost doubled, increasing costs for those workers with long commutes. Americans find themselves rebudgeting, though their income remains stable.

But with a little financial savvy, Americans can stretch their dollars. Simple changes, like purchasing generic puffed rice instead of name-brand cereals, clipping coupons or buying dried goods in bulk can save money at the grocery store. Keeping tires properly inflated and driving the speed limit can help increase vehicles’ fuel efficiency, leading to lower costs at the gas pump.

The best way to make a dollar more valuable? Save it. In planning for retirement and future expenses, Americans can turn their dollars into considerable nest eggs.

Financial advisors and columnists agree -; saving small amounts of money sooner results in larger net yields than saving more later in life. At age 25, someone saving 2,500 dollars a year in an individual retirement account (IRA) with 6 percent interest will save $437,376 by age 65. Someone starting to save at age 35 will have to put away $4,865 each year to make the same amount by age 65.

It’s never too early -; or late -; to begin saving. One company, Save252, allows customers to contribute as little as a dollar a day, 265 days a year, towards their retirement.

Users specify the amount of money they want to contribute to a regular account or Roth IRA. Save252 automatically withdraws that amount from users’ checking accounts, then transfers the funds. Customers remain in complete control of their savings -; they can, at any time, change the amount of money they want to save, or they can stop payments.

Even people living in lower tax brackets can afford to save for retirement with Save252.

For more information and more money-saving options, go www.save252.com.

(ARA) - From flowers to guest lists, engaged couples spend months planning the perfect wedding. After the vows are said and the reception is complete, most newlyweds are ready to relax. But there are several steps newlyweds should take before their happily ever after can begin.

“Settling into life as a married couple takes some work,” says Lindsey Leesmann, a recent newlywed and contributor to YesYouCanOnline.info. “If you’re taking your husband’s last name, you must complete the name change in several places. You also have to discuss managing money as a couple and learn how to live together.”

Leesmann offers the following to-do list for newlyweds changing their last names:

Obtain a copy of your marriage license
If you stated you’d be changing your last name when purchasing your marriage license, you’ll receive a copy of the license in the mail. This license should be taken to each location on your path toward a new last name.

Go online
Next, acquire a new Social Security card and update your passport. Complete Form SS-5 and take it to the local Social Security office to obtain a new card. The form can be found on the Social Security Administration’s Web site (www.ssa.gov). Your passport can be changed by completing Form DS-5504, found at www.travel.state.gov.

Drive to the DMV
The next stop for newlyweds is the local Department of Motor Vehicles. Each state is different, so make sure to bring all the items required to get your name changed and renew your driver’s license.

Check in at your bank
Most banks simply need a copy of the marriage license and the account holder’s signature to approve a name change. Some may also require your spouse to be present.

Drop by the post office
To change your name at the post office, just pick up a change of address envelope, fill it out and mail it back.

Once the name change is complete, newlyweds can focus on managing money as a couple.

“Money is often a tricky topic for new couples,” says Sam Goller, award-winning author of “Yes, You Can… Achieve Financial Harmony.” “But it’s important to start communicating about money at the beginning of your marriage.”

Goller offers the following suggestions for newlyweds working to manage their finances as a couple:

Determine priorities
Prior to creating a financial plan, talk about your histories with money and what’s most important to each of you when it comes to money.

Find missing dollars
You have to understand your spending habits before you can spend money in a way that helps meet your goals. Consider keeping a spending journal to find out where your money really goes.

Choose a system that works for you
You may prefer to sit down each month as a couple to pay bills and develop a monthly budget. Or maybe one of you is better at handling expenses and prefers to do it alone. Find a system that works with your needs.

“The key to managing money as a couple is to never stop talking,” says Goller. “With shared determination, a plan and open communication, newlyweds have the power to improve their financial position both now and well into retirement.”

For more information on managing money as a couple, visit http://www.YesYouCanOnline.info .

(NewsUSA) - As rising prices leave Americans low on cash, many turn to credit cards to cover expenses. But people shouldn’t use credit cards if they cannot pay credit card bills -; bad credit ratings can create lifelong, devastating effects.

Banks, financial institutions and businesses use credit card ratings to establish consumers’ reliability. People with no or bad credit can find themselves unable to get car or home loans. Landlords and potential employers check credit ratings, too. So, Americans without good credit can have trouble renting an apartment or getting a job.

But people looking to recover from bad credit do not need to declare bankruptcy. With some creativity and judicious spending, people can establish or recover good credit ratings -; and end up with some high-end electronics to boot.

Companies now offer low-rate financing options, which help people buy products while also building good credit.

One company, Pay by the Day (www.abuckaday.com), allows customers to finance IBM computers, Toshiba notebooks, JVC televisions and Canon digital cameras -; along with other electronics, sporting goods and furniture -; for as little as a few dollars a day.

Buyers determine a set amount of money, which is automatically withdrawn from their bank accounts to go towards their purchase. Pay by the Day sends products to homes with no extra money down. The service has no hidden costs. Once people pay off their purchases, they own them completely.

Pay by the Day will approve customers for financing, even if they don’t have good -; or any-; credit ratings. In purchasing a computer or camcorder through Pay by the Day, people can establish or improve their credit ratings.

Having a credit card -; and the credit rating that comes with it -; has become a necessity. For people finding their loan applications and resumes continuously declined due to bad or nonexistent credit, financial recovery can seem endlessly frustrating. But with companies like Pay by the Day offering low-financing options, buying a laptop or television now can help Americans rent apartments, buy homes and cars, or get jobs later in life

(ARA) - Homeowners refinance for a variety of reasons including to take cash out of their home equity to make home improvements, to consolidate debt, and to move from an adjustable-rate mortgage to a predictable, fixed-rate mortgage. Depending on the current interest rate, many homeowners who refinance may save money on their monthly mortgage payment, or even adjust their mortgage to shorten the term (on the length) of the loan.

As more and more consumers head online to shop for a variety of products and services, shopping online to refinance a mortgage has become commonplace. The ease and convenience of gathering information and applying for a refinance at any time of day or night is perhaps the biggest reason time-crunched Americans have been flocking to the Web.

“Refinancing online often makes the process much more simple and certainly more convenient,” says Frank Destra, managing director and senior vice president of national sales for Internet lender, Ditech. “The convenience of shopping for a mortgage directly from your home or office, on your own time, is one of the primary reasons there has been an increased demand for online lenders. Many people conduct all of their financial transactions online already, so ‘why not get your mortgage online too?’ seems to be a much more common attitude.”

Another benefit of refinancing online is that many mortgage lenders’ Web sites have a wealth of free educational information available to help you learn about the overall refinancing process. You will find articles and tools that may help you decide if refinancing might be a good option. For example, Ditech has a refinance calculator that can help determine how many months you will need to live in your home to recoup the cost of refinancing.

So what are some of the refinancing options you might want to consider before you boot up the computer? Consider this:

* A fixed-rate mortgage has an interest rate that stays the same throughout the entire life of the loan, so your monthly mortgage payment of principal and interest will not rise in the future. Refinancing from an adjustable-rate mortgage into a fixed-rate mortgage may provide you with peace of mind knowing that your new interest rate will not reset to a higher rate.

* Roll-down refinancing allows you to include the refinancing fees in the mortgage, so you will not have to pay costs up front.

* Cash-out refinancing allows homeowners with enough equity in their home to take out cash when they refinance to pay for other expenses such as a wedding, college or a home remodeling project, or possibly even to invest.

* A 15-year or 20-year fixed-rate mortgage will shorten the life of your loan, and may allow you to get a lower mortgage rate, but your monthly mortgage payment will be higher than with a 30-year fixed-rate mortgage.

* Refinancing with a traditional 30-year mortgage, will help reduce the monthly mortgage payment by extending the term of your current loan.

As you consider refinancing your home, be sure to check out the convenient and competitive options that may be available to you from online mortgage lenders. Your next mortgage may be only a click away.

To learn more about refinancing, visit www.ditech.com or call Ditech at (800) 715-3483.

(ARA) - As spring home buying season begins, financing options remain available for borrowers who do not have the traditional 20 percent down payment.

“Even with home prices declining in many areas, many families still find it difficult to accumulate a 20 percent down payment,” says Suzanne Hutchinson, executive vice president of the Mortgage Insurance Companies of America. ”Low down payment insured loans are a key financial tool in the overall effort to keep the dream of homeownership alive in a volatile market.”

Although the real estate market is tumultuous, there are still safe, predictable and responsible financing options for buying a home. “Most are better off because the risky, exotic loans have largely disappeared from the market, and also fortunate because more secure loans with tax-deductible private and government mortgage insurance are still available for qualified borrowers,” says Bruce Hahn, president and CEO of the American Homeowners Grassroots Alliance.

And Congress is helping many buyers with a federal income tax deduction for mortgage insurance premiums on home purchases or refinancing starting in 2007. This is the first-ever tax deduction for government and private mortgage insurance.

The tax deduction was first approved by Congress in late 2006 and applied to loans with mortgage insurance that closed in 2007. In an important move to further assist borrowers, Congress voted in December of last year to extend the mortgage insurance tax deduction through 2010 as part of the Mortgage Forgiveness Debt Relief Act of 2007.

The deduction allows households with an adjusted gross income of $100,000 or less to deduct the full cost of their government or private mortgage insurance premiums on their federal tax returns. Families with incomes between $100,000 and $109,000 are eligible for a reduced deduction. On average, the tax break could be worth $350 per taxpayer.

Approval of the tax deduction by Congress — and extending it through 2010 — was strongly supported by a number of consumer, civic, African American and Hispanic groups.

“Making the cost of mortgage insurance tax deductible helps those who need it most: low- and moderate-income Americans, primarily first-time home buyers, who are financially responsible but simply don’t have the means to amass a 20 percent down payment,” Hutchinson says.

Buying a home is usually the biggest financial decision for any family. With riskier mortgage financing options, such as interest-only loans and piggyback mortgages, quickly fading from the marketplace, low down payment loans with mortgage insurance remain readily available for qualified borrowers.

An added benefit is that private mortgage insurance can be canceled when the home owner builds up sufficient equity in the home, with nine in 10 borrowers canceling private mortgage insurance within 60 months.

For more information on tax deduction and home loans with low down payments visit www.privatemi.com.

Courtesy of ARAcontent

Raleigh, NC – State Employees’ Credit Union (SECU) and the State Employees Association of North Carolina (SEANC) are once again offering discount theme park tickets to members for the 2008 spring and summer seasons. Sales began March 20th and will continue through September 30th in all 217 SECU branch locations. Tickets for the following parks are available: Carowinds, Kings Dominion, Wet’n Wild Emerald Pointe, Myrtles Waves, Nascar Speedpark, The Pavilion Nostalgia Park and Ghost Town in the Sky.

Dana Cope, SEANC Executive Director states, “SEANC is once again pleased to offer discount theme park tickets to SECU and SEANC members through the Credit Union’s extensive branch network. This partnership has been extremely successful, and we are very glad to offer an opportunity for state employees to ‘play’ at a discount, since they work so hard all year long!”

Read More:CarolinaNewsWire

RALEIGH, N.C. - Now truly is a great time to buy a home, and The Home Builders Associations of Raleigh-Wake County, The Home Builders Associations of Durham and Orange County, and the Raleigh Regional Association of Realtors want to tell you why. The campaign, called

The King Partnership is a full-service marketing communications agency specializing in real estate and retail marketing. Founded in 1986, The King Partnership offers a variety of marketing, communications services, including branding, strategic real estate consulting, marketing, graphic design, public relations, media buying, direct mail, radio and TV production. Located at 1210 Trinity Road in Raleigh, TKP offers a unique entrepreneurial “Run It Like You Own It” approach to business. For additional information visit the King Partnership online at www.thekingpartnership.com

Read More:CarolinaNewsWire

HOLLY SPRINGS, N.C. — Paragon Application Systems has licensed its FASTest and ATMulator Plus software to GRG Banking Equipment Company Ltd. (GRG Banking), the largest domestic ATM manufacturer in China. GRG Banking will use Paragon’s FASTest and ATMulator Plus to develop, test and demonstrate new ATM features.

Since the late 1980’s, GRG Banking has built a strong reputation in the Chinese ATM market for leading technology, superior quality and high reliability, as well as its strong service network. In order to expand internationally, GRG Banking needed software to assist them in testing new features such as the integrated chip card (EMV) extension to their ATM application offerings. GRG chose Paragon solutions based on the proven track record of the software and Paragon’s expertise implementing new technologies including EMV world-wide.

“GRG Banking expects Paragon’s software will improve the functionality of our software products and allow us to include new features in our software such as EMV and Remote Key Loading function,” says Linda Lu, Manager of the Worldwide Technology Center of GRG Banking. “We appreciate the service and expertise that Paragon has provided and look forward to a long-term business partnership.”

“The ATM market is at a pivotal point and GRG Banking appears poised to emerge as a major global ATM provider,” says Jim Perry, Vice President of Sales and Marketing for Paragon Application Systems. “We are pleased GRG Banking selected Paragon as their ePayment testing provider and we look forward to working with them as they continue to grow their market share.”

About Paragon Application Systems
Paragon Application Systems is a leading global provider of ePayment simulation, configuration and testing software tools to the financial industry. More than 400 financial institutions in over 80 countries use Paragon tools to improve quality and reduce time-to-market. Paragon’s broad customer base includes major interchanges, processors, leading software providers, banks and credit unions.  www.paragonedge.com

Read More:CarolinaNewsWire

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