The World Business

Archive for October, 2011

Thinking of getting a cash loan to get rid of debt collection calls? There’s a better way. When you’re having financial problems, debt collectors can quickly become a daily annoyance. But if you follow these tips on how to deal with them, your life will be a bit easier.

Don’t ignore them

Ignoring debt collection calls is the worse thing you can do. If a collection agency is calling you, it’s because you have a debt problem.

Instead of putting your head in the sand and acting like nothing’s wrong, you should take a good hard look at your finances to understand how and why this happened.

Ask for confirmation

As soon as the first call comes through, you should confirm that the debt is yours and that it’s a legitimate one. (In other words, make sure this didn’t happen because of identity theft.)

Depending on your state or country, the law should allow you a certain amount of time to request a debt verification with the collection agency. It’s the best first step, whether the debt is yours or not.

Know your rights

Even though debt collection isn’t like getting arrested, it can have a significant impact on your life and health. Visit the website of your country’s trade commission to learn about your rights as a debtor.

Most Western countries have rules and laws about harassing phone calls, threats and abuse. If the debt collection agency is using these tactics, contact the trade commission or follow the next tip.

Get a lawyer

If you are stuck with an abusive collector or have received a notice of a lawsuit, you should get a lawyer who specializes in consumer law.

A lot of lawsuits can be avoided with the help of a good lawyer because debt collection agencies count on people to just give in and pay whatever they are requesting. A lawyer can help you sort out what you should and shouldn’t do.

Don’t give them access to your accounts

Some agencies may insist on getting your banking information so they can withdraw money directly from your account. You should never reveal your banking information to collection agencies.

Instead, offer to pay through money orders or a payment service that keeps a record of the transaction. Do not pay by personal check.

Keep copies of everything

As soon as you start receiving written documents, safeguard the originals and make copies, just in case. Keep photocopies of any payment that you make as well. Any mail you send should be certified and signed by the receiver.

If the collection agent uses abusive language on the phone, tell him or her you’re recording the conversation (and actually follow through with it). Under the threat of being denounced, most collectors will stop harassing you.

Debt collection is an unfortunate part of many families’ financial life, but you can minimize its impact by following these simple tips and keeping yourself informed. If you show good will and do not put up with abuse, you should get out of it fairly quickly.

You can use all the best property valuation software to make your decision, whether to invest in a hotel or not, but it will take more than software to understand the market and make a good judgement. Those who are in the hotel investment business have been in it for many years. For anyone considering this type of investment, help from the professionals in the industry is an absolute must. At the same time, you will need to do your own research. You will need to understand so many issues, from the global economy, big-name brands, how to choose the right specialist, the legal implications of your investment in another country, and a whole lot more. For now, let’s take a look at some of the essentials that makes a hotel successful, and therefore, what makes your investment provide good returns.

• Location. It is hard to imagine a hotel being successful if it is in the middle of an industrial area, or the country has an internal conflict without end. Location means more than just where the hotel is. Location includes local transport features, facilities like golf courses, weather and climate and support from local governments.
• Facilities. The hotel itself needs the features and facilities the market demands. Conferences are a big reason why many hotels can exist. If they don’t have the facilities, they will not get the business. Features are extremely important for hotel success.
• Brand and Presence. The best hotels have the best management. We know brand names because we have been exposed to those names. If you want to know whether a hotel brand is important, all you need to do is look at the media presence. Media presence also includes online presence. Online hotel booking is so important, online media presence has become more important than tradition media in the hotel business.
• Tourism. There are not too many people that will choose a location based on a hotel. They choose the hotel because they want to go there. Tourism is a fickle business. People go to a destination because of a number of reasons. An airline could be offering better deals, or the country could be offering tax free incentives for shoppers. Tourism is a combination of factors. Dubai is the perfect example, everyone has an image of the Emirate, but in reality, the place is one huge desert with a large amount of construction. There is little like you will see in the postcards.
• Economy. Shanghai is the perfect example of where economy meets hotel. For the last few years, hotel construction has been ballistic. Shanghai, while not the capital of China, is the commercial hub of China. It is not tourism driving the hotel construction in Shanghai, it is the potential business that will happen between China and the rest of the world. The economy in China is much better than in many countries in the world. The world has been flocking to China for some time, and when the world hit the global crisis of recent, China was a safe haven.

Traditionally, hotel occupancy has followed the flow and ebb of the economy. Now we are living in an increasingly global economy, and so those distinctions are getting blurred.