Category Archives: Finance

3 Crucial Questions to Ask Yourself When Choosing the Best Collection Company or Collection Agency

Okay students, there is a lot to discuss so lets cut to it. First off you need to take a look at your particular collection account so that you may better recognize the position your in and make a more educated decision on the path to take. Here are the main points of interest.

1. How much does my debtor owe me?
If your debtor owes $600.00 I’m willing to bet your not going to be happy paying the going collection attorney rates to retrieve it.

The best collection company for you in this case would be one that works on a % basis. This will save you considerable money over signing some contract with a collection agency that wants a few hundred down just to attempt to collect your debt.

2. How long have I done business with my debtor?
We all know that an attorney is not the most friendly person to talk to. If you want to attempt to mend your ties and continue business with a debtor it is a very good idea to consider a low friction collection agency. The best collection company for you in this case would be one that will call and chat with your debtor and sort of “hold hands” until they can get this worked out. Usually an agency that is willing to do that is more expensive than one that wants to slap a remark on there credit and fry them for dinner.

3. How far past due is the account?
If the account is more than about 5 or 6 months behind you may have already waited too long to collect on it. A good rule of thumb is turn over ANY and ALL accounts at 60-90 days. You will receive a better rate from the agency or attorney you choose and have many more options.Not to mention your collect ability at 30 days is 84% and it drops 10% every month! If the account is behind up to 1 year I would suggest you find the best collection company in your field. If it is over 1 year, its time for litigation! Go with a collection attorney instead because you’re chance of collecting without litigation is around 21%.

HOW DO I CHOOSE THE BEST COLLECTION COMPANY?
First off you should never, I REPEAT NEVER, sign a contract with a collection agency. That is insurance that the agency does NOT have to try to earn your business for the next 1 or 2 years. Many collection companies will only send out the collection letters and hope it is paid when they don’t have a time constraint.

Find a collection agency that has NO CONTRACT

Attorneys will pretty much always want the accounts on contract, so expect that.

What is the going rate for a collection agency?
As of today’s market the standard rate for a collection agency is 15%-35%. I would suggest finding the middle of the range, around 25%. A company with a lower rate is usually an overseas based firm with VERY LOW results. Higher rates are just greedy companies.

What is the going collection attorney rates?
You can expect to pay from 30%-50% for a collection attorney. I know this is a harsh pill to swallow but thank about this for a moment. If you lost $100 and while looking for it found $50 would you be happy you got back some cash or just leave that $50 dollar bill on the ground?

Thank you for taking a moment out of your busy schedule to review our material and hopefully our company. You can find more info about collection agencies as well as our company at

Okay students, there is a lot to discuss so lets cut to it. First off you need to take a look at your particular collection account so that you may better recognize the position your in and make a more educated decision on the path to take. Here are the main points of interest.

1. How much does my debtor owe me?
If your debtor owes $600.00 I’m willing to bet your not going to be happy paying the going collection attorney rates to retrieve it.

The best collection company for you in this case would be one that works on a % basis. This will save you considerable money over signing some contract with a collection agency that wants a few hundred down just to attempt to collect your debt.

2. How long have I done business with my debtor?
We all know that an attorney is not the most friendly person to talk to. If you want to attempt to mend your ties and continue business with a debtor it is a very good idea to consider a low friction collection agency. The best collection company for you in this case would be one that will call and chat with your debtor and sort of “hold hands” until they can get this worked out. Usually an agency that is willing to do that is more expensive than one that wants to slap a remark on there credit and fry them for dinner.

3. How far past due is the account?
If the account is more than about 5 or 6 months behind you may have already waited too long to collect on it. A good rule of thumb is turn over ANY and ALL accounts at 60-90 days. You will receive a better rate from the agency or attorney you choose and have many more options.Not to mention your collect ability at 30 days is 84% and it drops 10% every month! If the account is behind up to 1 year I would suggest you find the best collection company in your field. If it is over 1 year, its time for litigation! Go with a collection attorney instead because you’re chance of collecting without litigation is around 21%.

HOW DO I CHOOSE THE BEST COLLECTION COMPANY?
First off you should never, I REPEAT NEVER, sign a contract with a collection agency. That is insurance that the agency does NOT have to try to earn your business for the next 1 or 2 years. Many collection companies will only send out the collection letters and hope it is paid when they don’t have a time constraint.

Find a collection agency that has NO CONTRACT

Attorneys will pretty much always want the accounts on contract, so expect that.

What is the going rate for a collection agency?
As of today’s market the standard rate for a collection agency is 15%-35%. I would suggest finding the middle of the range, around 25%. A company with a lower rate is usually an overseas based firm with VERY LOW results. Higher rates are just greedy companies.

What is the going collection attorney rates?
You can expect to pay from 30%-50% for a collection attorney. I know this is a harsh pill to swallow but thank about this for a moment. If you lost $100 and while looking for it found $50 would you be happy you got back some cash or just leave that $50 dollar bill on the ground?

Thank you for taking a moment out of your busy schedule to review our material and hopefully our company. You can find more info about collection agencies as well as our company at Eastpoint Recovery Group.

Finding a Student Loan Without a Cosigner

Finding a student loan without a cosigner these days is getting harder and harder. Banking institutions are more picky than ever about the kind of people they are willing to lend money to, and really- who can blame them? This has been a rough few years for the financial industry, and they have to protect themselves now. The problem comes when they start protecting themselves from people like you- students who need money to reach their education and career goals, and who have no real income because of their place in the educational journey.

The process of getting a student loan is made easier if you have a co-signer to help you, but not every student has access to a reliable family member or friend with a credit score high enough to be a cosigner. If a parent has bad credit score can not get college loan. Other students have eligible people available, but do not want to risk embarrassment or awkwardness by admitting a need for help. Other students just don’t have the kind of relationship with plausible cosigners to ask them for that kind of help.

If you are a student in any of these situations, then do not give up hope yet. There are still options out there for students with no cosigner. Finding a student loan without a cosigner is possible. This article will give you a few tips you can follow and a few links you can check out to help you find a student loan without a cosigner.

1. The FAFSA

Chances are this is not the first time you have heard FAFSA mentioned. The FAFSA, or the Free Application For Student Aid can be a really huge resource and help for students like you looking for a student loan without a cosigner. The FAFSA takes a while to fill out, which is why many students want to skip this step, but that would be a mistake. The FAFSA can tell you what grants and scholarships are available to students in your particular situation. It can also open up new student loan opportunities- many of them being college loans that do not need cosigners.

The FAFSA can also give you important information about all the different financial aid options that are available to you like is a student loan an installment on credit, or how many credits do I need to get financial aid?

The other great thing about filling out your FAFSA is not only that it is free, but that there are more than likely people hired at your school to specialize in this document. Many colleges have student aid facilities where people are paid to help students just like you fill out the FAFSA properly and get the financial aid they need to be successful. Find these individuals and take advantage of the wonderful gift your college has made available for you. Filling out the FAFSA is a great step towards finding a student loan without a cosigner.

2. Government Loans

There are a number of government loans available right now. Many students pass over these loan options because they do not give out very much at a time. The truth is, no government funded loan will give you all the money you need for a semester unless you also have some kind of scholarship. However, even if $2,000 from a Perkins loan won’t pay all your bills, it is $2,000 more than you would have had without the Perkins loan, and that is no small drop in the bucket. Plus- they are all offered without cosigners. Here are some of the government loans we think you should look into:

Subsidized Stafford Loan: This is the best government loan out there for students. It is a student loan without a cosigner. It is a student loan without a credit check. It is a student loan without hefty interest payments because it has been subsidized. Apply for a Stafford Loan, and you will almost certainly qualify for a student loan without a cosigner.

Unsubsidized Stafford Loan: This is the same as the previous no cosigner student loan except that the interest is not subsidized, so you will pay out more over the life of the loan than the subsidized loan.

Perkins Loan: These loans are great and easy to apply for, but are not as popular as they have a cap on the amount they can give both per year, and overall. They are a no credit check student loan and a student loan without cosigner- so definitely something to look into.

In the end- all of these loans can get you what you need without a student loan cosigner and student loan no credit checks Canada or US, but all of these loan options can give you more money if you have a co-signer. If you have simply been afraid to ask someone to take a risk on you, then you will want to have them look into these loans as they are much less risky and the interest rates are much lower than the student loans you will find at a bank.

Look For Local Boosters

If you are going to college, then you are most likely living in a college town. Here is a little secret about college towns- they NEED college students! They love you. Local businesses thrive off of you. Local housing owners survive by you. The population of the town you live in might complain heavily about all the noisy college goers- but they need you, and this makes for a lot of local boosters and scholarship opportunities. Look around for local opportunities to get supported through school. The average student with poor credit needs $7,000 loan per semester to get through school. Many need more, depending on the school, area, and situation of the student. A good way to get a head start on that $7,000 is to get help from the local businesses that need your presence to survive.

Get more information on loans here.