Bad Debt Personal Loans: to Escape the Financial Whirlpool Called Bad Credit

So, you were caught in unaware with bad debt. It happens. No, no, you haven’t caught the bad debt disorder yet. There are bright chances that you won’t need any ‘specific’ action to deal with bad debt. Bad debt personal loans will take care of that.The phrase ‘bad debt personal loans’ is self explanatory. It means that you are looking for personal loans for a particular situation that is bad debt. Bad debt is a credit rating term which means that your credit is damaged. Late payments, skipping payments, exceeding credit card limit, county court judgments, declaring bankruptcy – all can result in bad debt. Bad debt can indicate difficulty in getting personal loans. However, under no circumstances it can prevent you from getting a personal loan. When you make a mistake on your credit card or monthly loan payment, the loan agency or the financial company labels you as bad debt. This goes along with you and you are perceived as a credit risk when borrowing personal loans.First of all get a copy of your credit report from any of the three credit reporting agencies – Experian, Trans Union, Equifax. Study the credit report before you apply for Bad debt personal loans and try finding out the snags in the credit report. Any inaccurate information should be corrected by contacting the credit reporting agency. Try to repair as many of them before applying for bad debt personal loans. Bad debt problems can only be amended over a period of time.Some simple credit repair steps can be followed before applying for bad debt personal loans. Pay all your pending bills and start making payments on time. Close any unused accounts. Even small steps can considerably improve credit. Be ready to prove that you can repay your bad debt personal loan. If your half of the monthly payment is already spent in paying for previous debts, the lender might be wondering how you will be paying your bad debt personal loan.Bad debt due to late payments can be considerably improved over time. If your bill or loan payment has been 30 days late, it will be reported as 30 day late in your credit report. Same is true for 60, 90,120 day late payments. The later the payments are the more unfavorable will be your bad debt situation.Credit score from 500-550 would mean you have bad debt and therefore are eligible for bad debt personal loans. Bad debt personal loans can answer for money requirements ranging from ¬£5,000 to ¬£75,000. You might be required to make a down payment which can be anywhere between 10-20%.Every bad debt situation is unique and no single plan can work for all the circumstances. If you know your credit score, you will be better informed about the interest rates, you are getting for credit score. This will prevent you from getting duped by loan lenders. Different loan lenders offer different terms for bad debt personal loans. Researching will lead you to better interest rates.Bad debt in accounting means expense. So it does in loan borrowing and implies higher interest. It is useless saying that you can get low interest rates for bad debt personal loans. However, it will help you a lot, if you understand that ‘comparative’ low interest rates are possible for bad debt personal loans. A lender is eager to offer personal loan to someone with bad debt for he has a reason to put his money at risk. The reason is high interest rates. The loan lender might draw a line with how much risk he is ready to take while providing bad debt personal loan. This means that a history of multiple defaults and severely injured debt condition might be refused bad debt personal loans.Bad debt personal loans can be used for any purpose. However, if you have few unpaid debts, you can use them for debt consolidation. Bad debt personal loans for debt consolidation, significantly reduces interest rates and monthly payments. You can reduce your debt at lesser cost. Bad debt personal loans can be used for the purpose of education, holiday, home improvement, automobile etc. Bad debt personal loans, you can’t afford is like being sucked down a financial whirlpool. Be honest while reporting bad debt. This will favour your bad debt personal loan application.You think there are not many buyers for bad debt when applying for personal loans. Try selling bad debt and you will find that you are not only getting desirable rates but bad debt personal loans you were specifically looking for. Bad debt personal loans are great surviving pill until, you can apply for good credit.

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SMART Tips for Saving on Your Auto Loan

Americans love cars. It is one of the reasons why America is amongst the world’s top car-owning countries. Every year, Americans spend several thousand dollars on auto loan payments. If you are looking forward to buying a car, make sure that you follow S.M.A.R.T. tips. The tips will help you save money and ensure that you do not opt for exorbitant auto loans.Follow the S.M.A.R.T. Tips and Save MoneyWhen car buyers have to make a decision about auto loans, logic takes a backseat and emotions become a controlling factor. It is the reason why car buyers say yes to financially harmful auto loans. To save yourself from the possibility of a financial damage, you must follow the tips.S – SpecificThe car is a huge asset. So, it is essential that you understand your requirements before buying a car. It is important that you have a specific image of the type of the car that you want. It will help you stay away from an impulse purchase. Consider the list of following factors because it will help you in choosing your perfect car:1. Total number of passengers2. Gearbox – Automatic or manual gearbox?3. Cargo capacity4. Vehicle performance5. Driving conditions6. Gas mileage7. Safety features8. Technological features9. Parking spaceM – MoneyRemember that even if you opt for an auto loan, you will need to make a down payment of at least 10 percent of the total price of the car. Down payment is beneficial because it helps in reducing the loan amount. If you do not have money for down payment, do not worry. You can trade-in your old car and ask the dealer to deduct its value from the price of the new car.A – Affordable Selecting a specific car will be of no use to you if you cannot afford to buy it. Remember that car expenses are not limited to down payment. You will have to pay money for monthly loan payments, fuel charges as well as maintenance expenses. A general rule is to allocate no more than 20 percent of your total monthly income for car-related expenses. Keep this rule in mind and choose an auto loan that does not exceed your budget.R – Reliable There was a time when car buyers applied for an auto loan with the local bank only. Today, there are several ways of obtaining an auto loan. You can apply with a bank, a credit union, or an online auto financing company.No matter what option you choose, you must ensure that the lender is a reliable one. If you opt for an online auto financing company, check the website’s security certificate. If the website doesn’t have one, stay away from it and save yourself from a potential identity theft.T – Time Car buyers are afraid of rate shopping because they believe that multiple credit inquiries will damage their credit score. But, do not refrain from rate shopping instead, finish it within 30 days. Why?A time-bound search for an auto loan will ensure that you do not harm your credit score. FICO does not consider inquiries made in the 30 days prior to scoring. So, if you are able to get a loan within 30 days, it won’t affect your score. This span of time can change to 14 days if the lender uses older versions of FICO and can increase to 45 days if the lender uses the newest formula.Car buying is one of the most expensive purchases that Americans make. If you do not pay attention to your auto loan, you can make the worst financial mistake of your life. So, avoid making a bad decision and follow the S.M.A.R.T. tips.

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Real Estate Leads 101 – Are You Copping Out of Following Up

Working with a lead generation company has given me interesting insight into both real estate leads and agents. I dealt with both ends: the consumer and the agents themselves, and my job was to make them both happy. Yeah right. Easier said than done.The consumer side is easy – real estate leads want a home value, they want information on the market, they want a real estate agent and we get them that. The real estate agents? Well that’s another story – they pretty much wanted everything under the sun when it comes to real estate leads. They wanted to be handed people ready to list their homes with them asap, with no work involved on the agent’s part. They want listings, not real estate leads.Well, if I could provide that consistently, all the time, I’d either have a multi-million dollar company, or I’d be doing real estate full time myself. Get this through your heads agents: there is no magic service out there that will hand you listings for a low fee. Instead, these services provide you with real estate leads and it is YOUR job to turn them into clients. Got that? Real estate leads + you = clients!YOU went to the classes, YOU studied up on sales and marketing techniques and YOU printed up all kinds of trinkets with your name and logo on them for your real estate leads. Ergo, YOU must convince your real estate leads to work with you. And if you’re not converting them, maybe you need to take a look at your own methods, rather than immediately blame the source of the real estate leads.By now, I’ve probably heard every excuse under the sun as to why online real estate leads are bad or bogus. And that’s all it is, an excuse, a cop out to make you feel better about not being able to turn your real estate leads into listings. That being said, here are the top 5 cop-outs I’ve heard over the years about following up with real estate leads and my responses to them.1. I’m a new agent and no one wants to use a new agent.Well, how do they know you’re a new agent? Did you announce it the second you spoke with your real estate leads? You don’t need to tell all your real estate leads that you’re new. If they ask, tell them, and be honest, but don’t just volunteer the information. And how to you know “no one” wants to use a new agent – sounds like a gross generalization to me. You won’t know until you get out there and try – convince your real estate leads that to be new means you’re cutting edge, the best thing out there right now, show them what an expert you’ve become, even if you’re new to the business. Just TRY to convert them. Assuming from the start your real estate leads won’t want to use you because you’re new doesn’t even give you a chance.2. Some real estate leads are on the Do Not Call Registry.So? There’s no such thing as a Do Not Knock list. If your real estate leads are on the DNC Registry and you feel THAT uncomfortable risking a call, you should have your butt in the car, directions in your hand and preparing yourself mentally for your introduction once you knock at their door. And actually, as per the basic rules of the Do Not Call Registry, if a consumer on the lists makes an inquiry (which is what online real estate leads are!), you can contact them for up to 3 months after the inquiry. So you’ve got 3 months to get them on the phone, after that, there’s still always that door! Don’t use the DNC as a cop-out method with real estate leads. It’s a flimsy excuse.3. It’s unprofessional to go knock on someone’s door.This is the line I usually got after suggesting stopping by the property. My thing is, who said so? Who told you it is unprofessional to go visit your real estate leads’ homes and drop off the information they requested? That is a matter of opinion and as long as your real estate leads don’t think it’s unprofessional, you’re good. And by showing initiative and going out of your way to meet your real estate leads, you may have just earned a client for life.4. These real estate leads are too far from my area, or it’s in a very bad part of town.This is probably my favorite cop out, because it just sounds ridiculous to me. If your real estate leads are too far, why did you sign up for that area? Or, if you are getting some real estate leads out of your area, how far? Most of the time, agents complain about having to drive 30 minutes away. To me, 30 minutes of my time is DEFINITELY worth the fat commission check I could get. And if some real estate leads are too far, haven’t you EVER heard of a REFERRAL COMMISSION? Find an great agent in the lead’s area and send it on over. That way you’ll still get a portion of the commission AND you’ve saved 30 precious minutes of your time.When real estate leads are in a bad part of town, it usually means it’s a very low-value home and is located in either a ghetto or backwater somewhere. It pisses me off when real estate agents say that the home isn’t worth their time. Guess what buddy? When you got your license, you gained knowledge that others don’t have, but will need at some point. You should be willing and open to share this with your real estate leads, no matter what the economic status of their home and income is. If you don’t want to help them, no one can force you, but you are a BAD agent if you’re not at least willing to find someone who will your real estate leads.5. If they wanted to be contacted, they would have given all their correct contact information.This is a tough one, because on one level I do agree with this SOMEWHAT. Real estate leads who give a good name, number, address and email seems to be more approachable than real estate leads that have fake names, or fake numbers, etc. But again, this statement is really a matter of opinion. You have NO idea what’s going through the consumer’s head when they filled out their information. Maybe they’re not technologically savvy and thought if they put their phone number over the Web, everybody would get it. Maybe they mistyped something. Maybe they don’t want to be hassled daily by telemarketer calls but DO still want the information. Until you actually touch base with your real estate leads, you have no idea where their head is at. What would hurt worse, getting a phone slammed in your ear, or missing out on a $15,000 commission because you THOUGHT they didn’t need anything since they gave a wrong phone number?These 5 objections are really just cop-outs and excuses in disguise for not following up with your real estate leads. And pretty flimsy ones at that. If these are your objections to your real estate leads, you need to stop sitting around thinking up objections and just get out there and GO. Start contacting those real estate leads, start making phone calls and sending postcards. You may not convert them all, but I guarantee if you put your all into following up with every single one of your real estate leads no matter what objections you may have, you will see a HUGE increase in your conversion rate. You just have to get in there and TRY.

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Three Step Guide on How to Haggle in the Current Property Market

The current market is back in the doldrums and when the property market is falling, past experience tells us it’s a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Here’s a step by step guide on how to buy a property by haggling down the price.1. Get your finances sorted!The key success to securing a bargain property is to be able to buy quickly. This means you need to have either cash or as good as cash with a hefty deposit and a lender that is capable of making funds available in a few weeks, rather than the normal six weeks they take.2. Find a legal company which can exchange quicklyThe legals for buying and selling a home can take months. Much of this is down to poor conveyancing companies. So if you want to bag a bargain, it’s vital to ensure you work with a legal company that can work to tight deadlines and isn’t reliant on one person to do the work, in case they go sick or on holiday.3. Understand where to get property bargainsProperty bargains are secured when people are desperate to sell. There are lots of reasons why someone might sell a property at a bargain price which include:-(a) The three ‘D’s -Death, Divorce and DebtSadly things happen in life to homeowners that force them to have to sell their property at less than it’s worth. If someone dies, a partner might need to sell up as they can’t afford the property anymore or they need to move nearer to friends and family. If a couple aren’t getting on and divorce is the only option, not everyone can afford to stay in their family home, particularly with so many families having two working parents. Debt is a rough thing, particularly in these difficult times, so when it really bites, selling up and releasing the equity is sometimes the only option.(b) RepossessionFor a property to be repossessed, the procedure takes sometime – it can be six months or more. If the owner has been to court they will often be given/be advised to try to sell the property themselves to get the best price they can rather than have the property taken off them and sold on incurring increased fees for doing so by the lender. This can be a great source of bargains, but can be like finding a needle in a haystack, unless you are happy to hang around the courts. They are either sold through agents, to ‘quick sale’ companies or via local auctions.(c) Chain falls throughIf someone has sold their property and made an offer on another one, then their buyer pulls out, this can cause a chain to breakdown unless another buyer can be found at short notice, so a great time to be able to offer less than the property originally sold for – as long as you can move within a matter of weeks to replace the previous buyer.(d) New Build PropertiesDevelopers run businesses and businesses have targets to achieve. So at the end of the year, or even the half year, the sale of one property might mean bonuses all round for the developer’s staff. This is when dropping a property’s price is worthwhile. As is selling off the ‘last two’ properties to free up expensive site sales offices and staff.(e) Half and Half HomesAt the moment, buyers are making offers on properties which are either pristine and ready to move into or a wreck which needs a lot of work (new kitchen and bathroom, re-decorating). Half and half homes which are partly pristine and partly a wreck therefore just aren’t selling, so after a long time waiting for a buyer, vendor’s are more likely to drop their price. These properties can take a while to secure at a bargain though, as it often takes vendors more than six months to realise they aren’t going to get the price they had hoped.(f) Properties needing substantial workMany people want to do a up a property, but that doesn’t really mean they want to get their hands dirty. Most ‘do-er uppers’ are really looking for somewhere they can move into then upgrade the decoration and put in a new kitchen and bathroom. The real bargains come when a property needs gutting – or already has been, if it’s been fire damaged, wrecked by previous owners. So less buyers trying to compete to buy these properties means you are more likely to ‘bag a bargain’.(g) Properties with ‘undesirable’ neighboursMost properties are sold when they sit next to another property or overlook lots of beautiful countryside. Those though that have a pylon in the back garden, front onto a busy road (although less so in city centres), next to schools, or a dilapidated property, tend to sell for a lot less than those in a better location. In a falling market these are the toughest properties to shift, so you can make pretty low offers and if the vendors can still move on, your offer may well get accepted.So if you want to haggle to bag a bargain in the property market, it’s essential to sort out your finances, sign up a proactive legal company and find properties where vendors are likely to be ‘motivated sellers’ and let you have the property for less than they would when the property market is buoyant.

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What Travel Agents Need to Know About Corporate Travel Today

This is rightly named as the age of traveler-centricity and with the evolution of the new era of personalized travel; it is leading to research and development of a host of new so-called intelligent services. The command-and-control perspectives of traveling have changed a lot from the past and the focus has shifted more on the traveler and the productivity of each trip. It has become essential to maintain that the travelers have the greatest return on investment on each trip. New generations of young employees and managers, who have been growing up and dwelling in a digital age, are moving up the ranks as travelers. It has become essential to recognize the need for greater flexibility acknowledging that the employees who travel on corporate trips also consider a percentage of their trip to be a leisure outlet. With increasing globalization and rise in companies sending their staff overseas to network and connect with their offshore prospects/customers/suppliers, corporate travel is a highly profitable tourism segment. Before we talk about how tourism companies can better cater to business travelers, let us first look at why they prefer to use specialized corporate agencies over traditional agentsWhy do businesses use Corporate Travel Agencies?This might be the most basic question for a travel agency as to why they need to use agencies specializing in corporate travel when there are plenty of regular travel agents in the market. Here is the importance of corporate travel agencies who have online systems which allow business travelers access to their complete itinerary.The following information is at the fingertips of the CTAs:-

full business itinerary details

up-to-date tracking details of flights (including delays or rescheduling)

transparent details about additional costs such as baggage fees or in-flight fees

travel alerts, if any, in the destined area

complete and up-to-date details about the visa procurement policies and identification required

currency requirement and conversion rates
What do corporate clients expect from Corporate Travel Agencies?Negotiated FaresThe Corporate Agencies tend to have tie-ups with hotels, car rentals, flights etc. giving them access to lower fares which can be used only by the frequent business travelers. Discounted prices are not the only advantage though as they also offer flight upgrades, room upgrades, and VIP check-in lines as required.In-depth information about the travel industryCorporate travel agents have access to many travel resources and most importantly, quickly, than any other leisure travel agent. Additional information helps to make the business trips convenient and comfortable.Changes in ItineraryWhen an airline ticket needs to get rescheduled or cancelled, chances are the airline or the online service provider will charge lofty fees. When booking with a corporate travel agent, most of the times schedule changes can be done at zero or minimal extra charges.Viable emergency contactsIt is important for the business travelers to reach the correct person at the need of trouble. Corporate travel agents have the experience and professionalism to relieve stress for both the traveler and the company.What you need to consider as corporate travel increases?Business Travel Barometer reported that corporate travel is witnessing an accelerated growth. However, when poorly managed, it may be no longer an advantage to companies and may, in fact become a burden. There are some factors which the corporations and CTAs must consider to get the best out of the time spent traveling.Adopting a travel policyThe corporate must define a travel policy which is applicable to and respected by travelers at all levels. This policy should be used to establish the standards which will help to track the improvement of business travel. It will eventually help to reduce the costs of the entire package.Do not limit the traveler’s autonomyThe management is responsible for budgeting the travel policy which helps to improve cost management however, it is also essential to give a degree of autonomy to the traveler. The policy should be flexible enough to allow the employee to adapt the trip as per the situation.Traveler’s security should be a major concernBusiness travelers need to have security in place. The company needs to stick to its definition of standards to ensure the employee’s integrity. The CTAs should have reliable partners (travel insurance, airlines, hotel chains etc.).Mobility and automationTo optimize time and ease the processes, the administration of management platforms should have automated processes. This means they should adopt mobile solutions where search options, travel alerts, ticket reservations etc. can be accessed quickly, easily and on the go.Corporate Travel Trends in 2016Corporate travel trends tend to change regularly. 2016 has also not been any different and the travel management companies (TMCs) and corporate travel agencies (CTAs) are quite focused to provide steady if not strong axis all over. A growing MICE sector, investments in mobile and big data and enhanced focus on duty of care are some of their areas of focus.Rising pricesThe consolidated buzzword among global suppliers, airfares, hotel rates etc. is the rising fares. It is sometimes the move of the suppliers to generate discounts which encourage travel if there is a strong decline in demand. A positive 2016 world economy has been bringing an increase in air fares of a few percentage points, hotels are expected to see 4%-6% rise in average global rates and the competition will remain moderate in the car rental services.Duty of careRisk management is one of the major points of emphasis for corporations. Corporate customers are allowing new policies and improved technologies to monitor employees’ location in case of an emergency, especially when they are travelling to foreign destinations. For instance, Concur Risk Messaging helps to identify the travelers moving around in the world and alerts them with alternate travel arrangement as and when needed.Focusing on MICEMeetings industry is a major growing sector and the corporate travel trend is developing on it. The corporate travel agencies should better start aligning the various meeting procurement methodologies with its transient travel sourcing. One of the ways could be to broaden the variety of meeting services by incorporating incentive trips within it.Investing in technologyA sharper focus on increasing value and becoming more traveler-centric can be done by bringing in mobile friendly technologies. Mobile and big data are definitely the two most significant technological investments which any corporate travel agency must focus to make their platform more appealing.Business travel analysis after BrexitFollowing Brexit, ACTE and CAPA shared their speculations. According to them, the greatest short-term effects on the travel industry will come from the weakening of the pound against other world currencies. Greeley Koch, executive director for the Association of Corporate Travel Executives said that the business travel industry will trend on currency fluctuations; with some companies taking advantage of the weaker pound and traveling more, while others may withhold business travel until world markets find their own level.Impact of terrorism on corporate travelersTravel policy makers and administrators need to be guided by rising terrorism scare. For executives and staff undertaking travel on behalf of businesses, the travel agents and corporate travel agencies (CTAs) should prove the reassurance for their safety through the travel policies. It is more than likely that the surveys conducted over corporate travelers reflect the general concern of the global business travelers about the spate of terrorism. However, there is no denying the fact that terrorist threat is changing the patterns of business travel. The key impact of this is to keep in mind that the companies providing travel services for business travelers need to enhance their focus on security and the associated risks in delivering the services to corporate clients. According to a recent finding, travel managers have higher estimation of their policy’s effectiveness in addressing risk compared to skeptical business travelers.ConcludingAlthough the corporate travel sector has continued to progress, there are a plethora of challenges faced by the industry. A rapidly changing consumer market, the emergence of new business models, the impact of technology, man-made and natural crises are some of the fulcrum points that need to be considered before planning corporate trips.

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What Travel Agents Need to Know About Corporate Travel Today

This is rightly named as the age of traveler-centricity and with the evolution of the new era of personalized travel; it is leading to research and development of a host of new so-called intelligent services. The command-and-control perspectives of traveling have changed a lot from the past and the focus has shifted more on the traveler and the productivity of each trip. It has become essential to maintain that the travelers have the greatest return on investment on each trip. New generations of young employees and managers, who have been growing up and dwelling in a digital age, are moving up the ranks as travelers. It has become essential to recognize the need for greater flexibility acknowledging that the employees who travel on corporate trips also consider a percentage of their trip to be a leisure outlet. With increasing globalization and rise in companies sending their staff overseas to network and connect with their offshore prospects/customers/suppliers, corporate travel is a highly profitable tourism segment. Before we talk about how tourism companies can better cater to business travelers, let us first look at why they prefer to use specialized corporate agencies over traditional agentsWhy do businesses use Corporate Travel Agencies?This might be the most basic question for a travel agency as to why they need to use agencies specializing in corporate travel when there are plenty of regular travel agents in the market. Here is the importance of corporate travel agencies who have online systems which allow business travelers access to their complete itinerary.The following information is at the fingertips of the CTAs:-

full business itinerary details

up-to-date tracking details of flights (including delays or rescheduling)

transparent details about additional costs such as baggage fees or in-flight fees

travel alerts, if any, in the destined area

complete and up-to-date details about the visa procurement policies and identification required

currency requirement and conversion rates
What do corporate clients expect from Corporate Travel Agencies?Negotiated FaresThe Corporate Agencies tend to have tie-ups with hotels, car rentals, flights etc. giving them access to lower fares which can be used only by the frequent business travelers. Discounted prices are not the only advantage though as they also offer flight upgrades, room upgrades, and VIP check-in lines as required.In-depth information about the travel industryCorporate travel agents have access to many travel resources and most importantly, quickly, than any other leisure travel agent. Additional information helps to make the business trips convenient and comfortable.Changes in ItineraryWhen an airline ticket needs to get rescheduled or cancelled, chances are the airline or the online service provider will charge lofty fees. When booking with a corporate travel agent, most of the times schedule changes can be done at zero or minimal extra charges.Viable emergency contactsIt is important for the business travelers to reach the correct person at the need of trouble. Corporate travel agents have the experience and professionalism to relieve stress for both the traveler and the company.What you need to consider as corporate travel increases?Business Travel Barometer reported that corporate travel is witnessing an accelerated growth. However, when poorly managed, it may be no longer an advantage to companies and may, in fact become a burden. There are some factors which the corporations and CTAs must consider to get the best out of the time spent traveling.Adopting a travel policyThe corporate must define a travel policy which is applicable to and respected by travelers at all levels. This policy should be used to establish the standards which will help to track the improvement of business travel. It will eventually help to reduce the costs of the entire package.Do not limit the traveler’s autonomyThe management is responsible for budgeting the travel policy which helps to improve cost management however, it is also essential to give a degree of autonomy to the traveler. The policy should be flexible enough to allow the employee to adapt the trip as per the situation.Traveler’s security should be a major concernBusiness travelers need to have security in place. The company needs to stick to its definition of standards to ensure the employee’s integrity. The CTAs should have reliable partners (travel insurance, airlines, hotel chains etc.).Mobility and automationTo optimize time and ease the processes, the administration of management platforms should have automated processes. This means they should adopt mobile solutions where search options, travel alerts, ticket reservations etc. can be accessed quickly, easily and on the go.Corporate Travel Trends in 2016Corporate travel trends tend to change regularly. 2016 has also not been any different and the travel management companies (TMCs) and corporate travel agencies (CTAs) are quite focused to provide steady if not strong axis all over. A growing MICE sector, investments in mobile and big data and enhanced focus on duty of care are some of their areas of focus.Rising pricesThe consolidated buzzword among global suppliers, airfares, hotel rates etc. is the rising fares. It is sometimes the move of the suppliers to generate discounts which encourage travel if there is a strong decline in demand. A positive 2016 world economy has been bringing an increase in air fares of a few percentage points, hotels are expected to see 4%-6% rise in average global rates and the competition will remain moderate in the car rental services.Duty of careRisk management is one of the major points of emphasis for corporations. Corporate customers are allowing new policies and improved technologies to monitor employees’ location in case of an emergency, especially when they are travelling to foreign destinations. For instance, Concur Risk Messaging helps to identify the travelers moving around in the world and alerts them with alternate travel arrangement as and when needed.Focusing on MICEMeetings industry is a major growing sector and the corporate travel trend is developing on it. The corporate travel agencies should better start aligning the various meeting procurement methodologies with its transient travel sourcing. One of the ways could be to broaden the variety of meeting services by incorporating incentive trips within it.Investing in technologyA sharper focus on increasing value and becoming more traveler-centric can be done by bringing in mobile friendly technologies. Mobile and big data are definitely the two most significant technological investments which any corporate travel agency must focus to make their platform more appealing.Business travel analysis after BrexitFollowing Brexit, ACTE and CAPA shared their speculations. According to them, the greatest short-term effects on the travel industry will come from the weakening of the pound against other world currencies. Greeley Koch, executive director for the Association of Corporate Travel Executives said that the business travel industry will trend on currency fluctuations; with some companies taking advantage of the weaker pound and traveling more, while others may withhold business travel until world markets find their own level.Impact of terrorism on corporate travelersTravel policy makers and administrators need to be guided by rising terrorism scare. For executives and staff undertaking travel on behalf of businesses, the travel agents and corporate travel agencies (CTAs) should prove the reassurance for their safety through the travel policies. It is more than likely that the surveys conducted over corporate travelers reflect the general concern of the global business travelers about the spate of terrorism. However, there is no denying the fact that terrorist threat is changing the patterns of business travel. The key impact of this is to keep in mind that the companies providing travel services for business travelers need to enhance their focus on security and the associated risks in delivering the services to corporate clients. According to a recent finding, travel managers have higher estimation of their policy’s effectiveness in addressing risk compared to skeptical business travelers.ConcludingAlthough the corporate travel sector has continued to progress, there are a plethora of challenges faced by the industry. A rapidly changing consumer market, the emergence of new business models, the impact of technology, man-made and natural crises are some of the fulcrum points that need to be considered before planning corporate trips.

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Three Step Guide on How to Haggle in the Current Property Market

The current market is back in the doldrums and when the property market is falling, past experience tells us it’s a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Here’s a step by step guide on how to buy a property by haggling down the price.1. Get your finances sorted!The key success to securing a bargain property is to be able to buy quickly. This means you need to have either cash or as good as cash with a hefty deposit and a lender that is capable of making funds available in a few weeks, rather than the normal six weeks they take.2. Find a legal company which can exchange quicklyThe legals for buying and selling a home can take months. Much of this is down to poor conveyancing companies. So if you want to bag a bargain, it’s vital to ensure you work with a legal company that can work to tight deadlines and isn’t reliant on one person to do the work, in case they go sick or on holiday.3. Understand where to get property bargainsProperty bargains are secured when people are desperate to sell. There are lots of reasons why someone might sell a property at a bargain price which include:-(a) The three ‘D’s -Death, Divorce and DebtSadly things happen in life to homeowners that force them to have to sell their property at less than it’s worth. If someone dies, a partner might need to sell up as they can’t afford the property anymore or they need to move nearer to friends and family. If a couple aren’t getting on and divorce is the only option, not everyone can afford to stay in their family home, particularly with so many families having two working parents. Debt is a rough thing, particularly in these difficult times, so when it really bites, selling up and releasing the equity is sometimes the only option.(b) RepossessionFor a property to be repossessed, the procedure takes sometime – it can be six months or more. If the owner has been to court they will often be given/be advised to try to sell the property themselves to get the best price they can rather than have the property taken off them and sold on incurring increased fees for doing so by the lender. This can be a great source of bargains, but can be like finding a needle in a haystack, unless you are happy to hang around the courts. They are either sold through agents, to ‘quick sale’ companies or via local auctions.(c) Chain falls throughIf someone has sold their property and made an offer on another one, then their buyer pulls out, this can cause a chain to breakdown unless another buyer can be found at short notice, so a great time to be able to offer less than the property originally sold for – as long as you can move within a matter of weeks to replace the previous buyer.(d) New Build PropertiesDevelopers run businesses and businesses have targets to achieve. So at the end of the year, or even the half year, the sale of one property might mean bonuses all round for the developer’s staff. This is when dropping a property’s price is worthwhile. As is selling off the ‘last two’ properties to free up expensive site sales offices and staff.(e) Half and Half HomesAt the moment, buyers are making offers on properties which are either pristine and ready to move into or a wreck which needs a lot of work (new kitchen and bathroom, re-decorating). Half and half homes which are partly pristine and partly a wreck therefore just aren’t selling, so after a long time waiting for a buyer, vendor’s are more likely to drop their price. These properties can take a while to secure at a bargain though, as it often takes vendors more than six months to realise they aren’t going to get the price they had hoped.(f) Properties needing substantial workMany people want to do a up a property, but that doesn’t really mean they want to get their hands dirty. Most ‘do-er uppers’ are really looking for somewhere they can move into then upgrade the decoration and put in a new kitchen and bathroom. The real bargains come when a property needs gutting – or already has been, if it’s been fire damaged, wrecked by previous owners. So less buyers trying to compete to buy these properties means you are more likely to ‘bag a bargain’.(g) Properties with ‘undesirable’ neighboursMost properties are sold when they sit next to another property or overlook lots of beautiful countryside. Those though that have a pylon in the back garden, front onto a busy road (although less so in city centres), next to schools, or a dilapidated property, tend to sell for a lot less than those in a better location. In a falling market these are the toughest properties to shift, so you can make pretty low offers and if the vendors can still move on, your offer may well get accepted.So if you want to haggle to bag a bargain in the property market, it’s essential to sort out your finances, sign up a proactive legal company and find properties where vendors are likely to be ‘motivated sellers’ and let you have the property for less than they would when the property market is buoyant.

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Very Important Information You Need to Know Before Investing in Koh Samui Property

Koh Samui, Thailand Koh Samui, Thailand has long been the locale of choice for paradise seeking foreigners from all parts of the globe. Its shimmering turquoise waters and sun bleached, white sandy bays are lined with bungalows, villas and resorts. Its happening night life with a plethora of restaurants feeds the epicureans and provides a magnificent back drop to beautiful sunsets and starry nights. It’s no wonder that so many foreigners want to own property in Koh Samui, but like any other property market in the world, it’s important to know understand the legal implications, visa requirements, and tax guidelines involved before deciding which property you are going to invest in.Getting To The IslandBefore investing in Koh Samui property, you must first feel confident that traveling to and from the island has been made easy and convenient for tourists. After all, they play a major part in helping Samui’s economy grow and helping tourists get to the island should be top priority. The most convenient way to get to Samui is by flying with Bangkok Airways from Bangkok, Singapore, Phuket, Pattaya, and Chiang Mai. There are 15 daily 80 minute flights between Samui and Bangkok and 4 weekly 90 minute flights between Koh Samui and Singapore. Alternatively, several ferries and catamarans run from Surat Thani or Don Sak on the Thai mainland. There are almost 10 daily departures between Samui and Ko Pha-Ngan.The Samui airport is a unique and highly successful experiment in building an airport that is kind to both the cultural and natural environments of a tropical island resort. Flying in, you get brief glimpses of outlying islands, streaks of surf, the wakes of small fishing craft sketched across the calm aquamarine sea. Smudges of coral reef dapple the water as you come in closer still. Then the coast of Samui appears. Two hundred and fifty kilometers of tropical hideaway scalloped by dozens of bays rimmed in white sand, carpeted in lush textures of forested hill and coconut grove, Samui is the centerpiece in a group of 80 other islands set in the Gulf of Thailand.Located 2km north of the main village Chaweng, Koh Samui Airport serves both domestic and international flights including Bangkok Airways, Thai Airways International, Berjaya Air, and Firefly.Koh Samui Property Tax Guidelines If you’ve already done your research and you are looking to invest in Koh Samui property, you really should understand how the tax liability can affect your overall return.All Koh Samui property owners in Thailand are liable for tax on rental income, which is based on either standard personal income tax (PIT) rates for “resident” tax payers and a at 15% PIT rate on assessable income for non-resident tax payers. A person becomes a “resident” tax payer if he or she spends more than 180 days in any tax year in Thailand. Thailand does not charge a separate capital gains tax for foreign buyers. All earned income from capital gains is taxed the same as regular income. The highest rate of income tax is currently 37% per year.When purchasing property in Koh Samui, it is quite standard for the purchaser to be solely responsible for the payment of all transfer fees as well as taxes duly charged by the competent land office in connection with the registration of transfer of ownership of the property. This includes the government transfer fee, withholding tax and specific business tax as well as stamp duty and other costs and expenses arising out of the registration of the transfer of ownership to the purchaser.Transfer fees are typically 2% of the registered value, stamp duty is.5% of registered value, withholding tax is 1% of the appraised value, and business tax is 3.3% of appraised value. Income tax is usually between 1-3% on Koh Samui property. There are no established rules regarding who pays the income tax while this is simply another part of the bargaining process during the property purchase as are all other costs relating to the transfer of ownership. Tax on Rental Income is 10-30% of rental income depending on the type of property. Lease Registration Fee is 1.1%Transferring Money To Purchase Samui PropertyUnlike most developed economies where transferring money to and from bank accounts is relatively straight forward and easy, this is NOT the case in emerging markets like Thailand. Before purchasing property in Koh Samui, it is very important to understand exactly how to transact and what needs to be done prior to purchase. Reason for the complexity of this issue is because of the Thai laws concerning Foreign ownership of Condominium Property. According to Thai Law, foreigners may own 49 percent of the aggregate sale-able unit space of a condominium building while the remaining 51 percent must be owned by either Thai nationals or majority owned Thai Companies. Below is a step by step guide on how to transfer money when dealing with Koh Samui properties.
A Thai bank account must be set up in your name in order to transfer money to yourself before exchanging your currency to Thai Baht. Any foreign currency can be used to purchase a condominium unit. The foreign currency must be transferred into Thailand as foreign currency and then exchanged into Thai Baht by a local bank in Thailand. In many cases, the developer may offer to help you establish a bank account in Thailand due to the complexity of establishing an account yourself. This may come at an extra cost, however developers are always willing to negotiate or waive this cost if it helps get the deal done.
Foreigners are required to remit at least USD 20,000.00 into Thailand per transfer to receive a FOREX Transfer Form. (Transfers of funds must be made in FOREIGN CURRENCY only and NOT in Thai Baht, i.e. if you are working in US Dollars then remit in US Dollars. Do not remit in Thai Baht. This form will be needed to transfer the unit under foreign ownership and also remit money back out of Thailand if so needed in the future.
Documents needed when buying a condominium: For foreigners to be eligible to purchase a condominium unit in Thailand they must present proof to the Department of Lands that the funds have been remitted from overseas in foreign currency. Without such proof, the Department of Lands will not register the transfer of ownership to the foreign buyer.
Remittances must be sent in exactly (“to the letter”) the same name as appearing on the purchase contract, (i.e. if Tom Smith is the buyer then the name Tom Smith must appear on the remittance advice. T. Smith or Smith Enterprises are unacceptable.) If the buyers are two individuals, then two names should appear on the contract and two separate remittances should be made by such two persons, in equal amounts.
The purchaser has to include the transfer instruction indicating that the purpose of this money is to buy a condominium unit. The bank that receives money in foreign currency will issue the document (Foreign Exchange Transaction Form) which contains the following information:
The transferred amount in foreign currency
The transferred amount in Thai Baht
The name of money sender
The name of money receiver
The purpose of transferringNormally throughout the transfer process, the purchaser has to instruct the gateway bank to identify the name of the sender to be the same as the receiver’s. The Land Department will accept the name of purchaser to be either sender or receiver of the transferred money.**Remark** If the money receiver is an individual but wants to put the unit in the names of two people, the sender has to instruct the gateway bank to specify the names of two people together with the purpose of buying condominium.For example:Mr. Smith transferred money to Mr. John and would like to put down the names of two people, Mr. Smith must also instruct his bank to specify the purpose as being to buy the condominium by both Mr. Smith and Mr. John. In this case, the land department can accept this and permit the transfer.The Land Department also can accept the transfer even if the sender’s name of the receiver’s name is not the purchaser’s name but the sender should instruct the gateway bank to put the purpose as being to buy the condominium by (Purchaser’s name). The amount of money must be equal to or higher than the selling price declared to the Land Department.Alternatives To Transferring Money To Purchase Koh Samui PropertyFor the avoidance of any doubt, we recommend wherever possible that Samui property buyers arrange for their local bank to issue the Foreign Exchange Transaction Form for all remittances. In this case you would transfer the funds directly to the Developer’s bank account in the prescribed format, and the Developer will arrange for the Foreign Exchange Transaction Form to be issued by the Developer’s Bank.For the buyers convenience, we strongly recommend that you transfer the funds directly to the Developer’s bank account, but ONLY do so if you know and trust the developers and know exactly where your money is going. In most cases, the developers will use a third party escrow arrangement typically put together by a local attorney. This is always the most secure way to exchange contracts as the developers are not allowed to access your funds until the title deed on the property has been transferred to you.Why does the developer need to use Foreign Exchange Transaction Form?
Because the Bank of Thailand controls the flow of foreign currency, every single baht must have a source and a reason. The Land Department must perform in accordance with this regulation. By this restriction, every foreign buyer must transfer money from abroad.
Non-residents who sell the condominium and transfer the money out of country do not have to pay the remittance tax (normally the tax is around 30%)
In case of transferring money out of the country, the tax-free amount is determined by the initial amount transferred.Transfer of title deed Documents needed: For Individual Purchaser
Passport (copy if applicable, marriage/divorce certificate including a letter of consent
From your spouse if married [Thai Language]).
Foreign Exchange Transaction Form or credit note.
Power of attorney, if anyone but yourself is representing you, in Thai script with a
Notarization by Notary Public or if overseas by the Thai Consulate.Corporate Documents needed: For Company Purchaser
Certified copy of the certificate of incorporation
Certified copy of the memorandum of association
Notaries certificate
List of shareholders (in English, but must be accompanied by a Thai translation)
Minutes of directors’ meetings, which have a resolution to sell/purchase the property
(specifying name and number and agenda dealing with the finance of the purchase if the
company’s registered capital is less than the purchase price)
Letter of advice regarding specific¬ signature
Power of attorney, if the authorized directors do not make the transaction by themselves
(Land Department form)
Free debt letter
Foreign co-owner letter
The certified copy of the I.D. Card of the authorized directors
The certified copy of the house registration of the authorized directors
Title deed of the condominium unitThai Visa Requirements Please note that whilst we believe the below information is accurate, it is recommended to verify requirements with the Royal Thai Embassy before travel.Many Non-Thai residents require a visa to stay in the country for more than 30 days. However, most African countries require a visa to enter Thailand – Cyprus, Czech Republic, India, Maldives, Oman, Poland, Russia, Saudi Arabia, Taiwan, Ukraine are allowed 15 days under the visa exemption. A Non-Immigrant Visa is valid for up to 90 days, but can be extended for up to a year at a time, depending on eligibility criteria. Retirement visas for individuals over 50 years old are readily available, subject to certain other criteria, tourist visas for stays of more than 30 days and less than 60 days and work permits for those with specific skills can be applied for via the Thai Embassy or consulate in your home country.Use An Investment Firm Or Relevant Developer To Assist You With The Purchase of Your Koh Samui Property Well you can’t say we didn’t warn you that purchasing property in Samui would be extremely complicated which is why we strongly suggest that you use a real estate agent or investment firm to assist you with the purchase of your Samui property. Often times the developer or agent that you are purchasing the property from will do everything they can to make this process as affordable and convenient as possible. After all, it’s in their interest to get this property deal done, and they should be more than glad to help you through it. Another reason it is beneficial to use the developer or registered agent, is because they already have the experience and connections to get you through this transaction. Because they’ve transacted several times before on Koh Samui properties, they know exactly who to go to and for what circumstance. It is very likely that they already have escrow arrangements established and banks in place to handle all of the paper work for you. In many instances, they may even use their company as the “buyer” and then issue shares in the company which then gives you legal ownership. This method of purchase avoids the issue of only being able to purchase 49% of a unit due to Thai law.

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Should Travelers Who Book Direct Get Fairer Fare Prices?

A travel website that does not sell travel but enables travelers to save money on travel as long as they do their own bookings is now offering services to internet travelers. This service is a unique addition to travel options for all travelers comfortable with direct bookings using a new type of travel document called a TopTravelVoucher.The operators of this service are addressing the issue of travel pricing which often includes a 10 to 25% mark-up to allow for the payment of travel agent commission to either wholesalers or retailers but when travelers buy directly from the provider (accommodations, tours or transportation) they can still pay the price inclusive of commission. To overcome the travel providers’ problems of showing multiple prices for the same products and services on their websites, they can now offer ‘fair fare prices’ by issuing TopTravelVouchers.Travel Providers are given marketing and promotion in exchange for their own travel vouchers, equivalent to or more than, the commission that would be payable upon sale of their various travel packages and services, so they still incur the commission cost on sales but do not have to alienate their distribution chain of wholesalers and retailers by offering a retail, wholesale or ‘direct’ price on their website. This is done by the voucher operator who sells their vouchers to travelers at deep discounts to their redemption values to be used when making direct bookings, hence a travel agent who does not sell travel, only travel vouchers and therefore is not a travel agent.According to the website information of the voucher operator, they are able to offer the ‘Fair Fare Price’ option because they do not have the normal operating costs of travel agencies such as shops, reservation systems, brochures, advertising and high staffing levels, but can still offer the traveler and the travel provider a service that is fair to all users.Before purchasing TopTravelVouchers, travelers are advised to check for quality and availability directly with the website of their travel selection and when satisfied, make a direct booking mentioning the voucher, then purchase the voucher. All vouchers come with a 100% money-back guarantee and in the event that the traveler is not happy with their travel purchase upon completion, the cost of the TopTravelVouchers will be reimbursed and the matter taken up with the provider.There are three levels of vouchers, $30, $50 and $100usd achieving various levels of savings but to give an example, at the time of this article there was a voucher valued at 1,500 euros (around $2,000usd) on sale for $100usd. If the vouchers are purchased outside of the USA the price is shown in the relevant currency. All vouchers are issued online and the provider is also sent a duplicate with the traveler details to encourage assistance in any travel itinerary planning of the traveler.So as not to deter expert travel agents and agencies from participation in this service the site invites them to identify any destination and activity expertise and to also offer vouchers to encourage travelers to seek out expert professional agents. Many retail agents offer their own travel packages and tours and many are comfortable in dealing with new clients from anywhere in the world over the internet, telephone or skype. The site cautions travelers to be careful when selecting ‘specialist’ agents who are not necessarily experts and who may have just taken a simple test operated by a tourism office or tour operator promoting their own destination or products.The travel selections with TopTravelVouchers are limited at present but the site operators are confident in the growth potential, but if you want to see what is available, you can find them at toptravelsites.

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Three Step Guide on How to Haggle in the Current Property Market

The current market is back in the doldrums and when the property market is falling, past experience tells us it’s a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Here’s a step by step guide on how to buy a property by haggling down the price.1. Get your finances sorted!The key success to securing a bargain property is to be able to buy quickly. This means you need to have either cash or as good as cash with a hefty deposit and a lender that is capable of making funds available in a few weeks, rather than the normal six weeks they take.2. Find a legal company which can exchange quicklyThe legals for buying and selling a home can take months. Much of this is down to poor conveyancing companies. So if you want to bag a bargain, it’s vital to ensure you work with a legal company that can work to tight deadlines and isn’t reliant on one person to do the work, in case they go sick or on holiday.3. Understand where to get property bargainsProperty bargains are secured when people are desperate to sell. There are lots of reasons why someone might sell a property at a bargain price which include:-(a) The three ‘D’s -Death, Divorce and DebtSadly things happen in life to homeowners that force them to have to sell their property at less than it’s worth. If someone dies, a partner might need to sell up as they can’t afford the property anymore or they need to move nearer to friends and family. If a couple aren’t getting on and divorce is the only option, not everyone can afford to stay in their family home, particularly with so many families having two working parents. Debt is a rough thing, particularly in these difficult times, so when it really bites, selling up and releasing the equity is sometimes the only option.(b) RepossessionFor a property to be repossessed, the procedure takes sometime – it can be six months or more. If the owner has been to court they will often be given/be advised to try to sell the property themselves to get the best price they can rather than have the property taken off them and sold on incurring increased fees for doing so by the lender. This can be a great source of bargains, but can be like finding a needle in a haystack, unless you are happy to hang around the courts. They are either sold through agents, to ‘quick sale’ companies or via local auctions.(c) Chain falls throughIf someone has sold their property and made an offer on another one, then their buyer pulls out, this can cause a chain to breakdown unless another buyer can be found at short notice, so a great time to be able to offer less than the property originally sold for – as long as you can move within a matter of weeks to replace the previous buyer.(d) New Build PropertiesDevelopers run businesses and businesses have targets to achieve. So at the end of the year, or even the half year, the sale of one property might mean bonuses all round for the developer’s staff. This is when dropping a property’s price is worthwhile. As is selling off the ‘last two’ properties to free up expensive site sales offices and staff.(e) Half and Half HomesAt the moment, buyers are making offers on properties which are either pristine and ready to move into or a wreck which needs a lot of work (new kitchen and bathroom, re-decorating). Half and half homes which are partly pristine and partly a wreck therefore just aren’t selling, so after a long time waiting for a buyer, vendor’s are more likely to drop their price. These properties can take a while to secure at a bargain though, as it often takes vendors more than six months to realise they aren’t going to get the price they had hoped.(f) Properties needing substantial workMany people want to do a up a property, but that doesn’t really mean they want to get their hands dirty. Most ‘do-er uppers’ are really looking for somewhere they can move into then upgrade the decoration and put in a new kitchen and bathroom. The real bargains come when a property needs gutting – or already has been, if it’s been fire damaged, wrecked by previous owners. So less buyers trying to compete to buy these properties means you are more likely to ‘bag a bargain’.(g) Properties with ‘undesirable’ neighboursMost properties are sold when they sit next to another property or overlook lots of beautiful countryside. Those though that have a pylon in the back garden, front onto a busy road (although less so in city centres), next to schools, or a dilapidated property, tend to sell for a lot less than those in a better location. In a falling market these are the toughest properties to shift, so you can make pretty low offers and if the vendors can still move on, your offer may well get accepted.So if you want to haggle to bag a bargain in the property market, it’s essential to sort out your finances, sign up a proactive legal company and find properties where vendors are likely to be ‘motivated sellers’ and let you have the property for less than they would when the property market is buoyant.

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