4 Tips to Hiring a Better Debt Management Firm

Individuals in debt who wish to make use of the services of a debt management firm should do research before committing themselves. An unscrupulous debt management firm can harm a debtor’s interests in many ways, so make sure to keep the following 4 things in mind before hiring a debt management firm:

1. Avoid any agency that calls you by phone or sends you spam: Most debt management firms advertise in the yellow pages or on the Web, but do not over-aggressively solicit clients. Therefore, there is a good chance any company which does so is not on the level. Debt management companies that follow a cold calling policy or send unsolicited emails will usually not be able to provide any solid references. Most of these companies do not even keep a reserve fund, which serves as a guarantee for the debtor that his creditors will be paid.

2. Non-profit agencies do not necessarily offer better service: First, not all non-profit debt management firms offer their services free; some firms charge up to 15% of the debt amount. Being a non-profit organization does not make a debt management firm a better and more efficient service provider than those that charge for the services. In fact, companies charging for their service are under an obligation to free their clients of debt as efficiently as possible because they are making a profit from their work and their profitability is directly linked to their credibility and reputation in the market.

3. Never part with credit card information on the phone: A reputed and honest debt management firm will never ask you to provide your credit card number or bank information on the phone. This is because they understand that callers can be impersonated; moreover, the increase in online frauds is reason enough for individuals in debt to be extra cautious when checking out debt management firms. Debt management companies that are acting in good faith will never ask a prospect or an existing client to part with sensitive information of any kind over the phone.

4. Don’t believe anyone who offers a deal that’s too good to be true – it probably is: Often debtors come across debt management deals that promise to reduce their debt by half in short time. This rarely happens; however, the debtor does end up paying high fees and a substantial upfront amount to the debt management company. Such companies also discourage debtors from communicating with their lenders; this is never a good idea and invariably leads to a negative impact on the debtor’s credit rating. If a debt reduction company promises to offer more than some interest reduction and counseling on getting out of debt and staying debt free, the claim should ideally not be taken at face value.

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Retail Supply Chain Management Specialists for Success in Business

Although some people might say that the financial crisis is over, the retail area is saying otherwise. Sure, the bankers on Wall Street are making millions of dollars. However, as long as the common population won’t have the money to buy everything it needs, the retail section, and mostly the retail section will still have to suffer. Therefore, retail supply chain management software solution specialists are the only key to success.

In this section, having a great manager is mandatory. Nobody left those companies in the latest years, as this field is somewhat strict, and if you are leaving a stores chain, the only place for you would be another company of this kind. As wholesale stores are also suffering because of the financial crisis, nobody is hiring in this field.

With such limited options, people working in this area are somewhat condemned to listen to their bosses. Every company of this kind has a list of potential employees that could be fired. A team with such a pressure will surely need a good manager to guide it. As a smart manager, you would surely need such a leader on your team.

It is true. In this business, finding a specialist of this kind could be hard. Again, the financial crisis might be an unexpected source of help. Lots of businesses of this kind were closed in the latest years. Therefore, there are many good managers just waiting for a good opportunity. They would take everything it is given to them, so they won’t ask for a huge salary. Those persons would not be effective just because they are experienced, but they are also motivated about the lack of opportunities in this field.

Until two or three years ago, those managers were the masters of the retail business. Unfortunately for them, the sector allowed shareholders to impose their ideas. A good supply chain manager must do his job, but he must also listen to the bosses. If you are thinking about hiring such a person, you will surely win from three different sources.

First, that manager will be faithful. A company offering him such an opportunity means a strong company; therefore he would rather stay with you, even if he or she gets a better offer. Second, that person has the experience you need. Third, he won’t ask you for a big salary, at least at the beginning.

The best idea would be to hire a head hunting company. Those human resources companies are specialized in finding the best specialists in every field, including yours. Furthermore, the harsh conditions in the hiring field will also allow them to find the cheapest people; therefore you will be prepared for the exit from this hard period.

Don’t be afraid to appeal to such a service. They might charge you a bit, but at the end, you will be sure you found the best specialist in the RayMedi retail supply chain management area.

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Property Managers Owe Fiduciary Duties to Their Clients at Minimum

“Fiduciary” is basically defined by Black’s Law Dictionary as a term derived from Roman law which means, as a noun, a person or legal entity, holding the character of a trustee, with respect to the trust and confidence involved as scrupulous good-faith and candor towards another’s affairs. A fiduciary also has duties which are described as involving good-faith, trust, special confidence, and candor toward another’s interests. Typical fiduciary duties are imposed on and include such relationships as executor, administrator, trustee, real estate agents, attorneys, and, of course, property managers. A person or company who manages money or property, i.e., the manager, for other people must exercise a standard of care in that the interests of the money or property owners are placed above and beyond those of the property manager. In some states, like California for example, a property manager is statutorily defined as an individual or entity which has the same duties as a trustee, i.e., a fiduciary.

The way I always explain it to clients, using my hands to demonstrate, is that my interests end at the top of my head (one hand at the crown of my head), but the client’s interest rise above and beyond my head and take precedent over my own (holding both of my hands above my head in a clasped position). Most people understand the gesture and comprehend that as a property manager and a lawyer my interests are much lower than those of the clients in our relationship.

Common Fiduciary Duties Owed by Property Managers

Since a property manager is a fiduciary they must act with the highest good-faith and fair dealing with respect to the owner’s asset, disclose all material information that may affect the owners decision-making with respect to that asset, and can’t in any way, shape or form act adversely to the owner’s interests. This may sound easy, but there are situations that arise that tempt even the best property managers to sometimes not act in their client’s best interests to suit their own self-interested convenience. Unfortunate as that may sound it happens regularly.

The following is a short list of some common sense duties, rights, and wrongs when a fiduciary relationship exists between a manager and an owner.

A manager should have a written agreement with their clients and may even be legally entitled to profit from services for which they provide to the owner, however, a manager may not secretly profit from this relationship. For example, a manager may charge an eight percent markup on materials and services provided by vendors to the owner’s property. This is legal and acceptable provided that the agreement between the parties is in concert with the markup. If this markup was not in the agreement then the law requires a property manager to disgorge or relinquish any and all secret profits derived from the relationship. There are so many possible examples of this, but a common one is a manager making a percentage profit on work and services provided to their clients but not disclosed; like a new roof, bathroom remodel, repairs to interior walls, etc.

A property manager is required to disclose any and all rental offers received along with documentation of those offers such that the property owner is well informed about all potential tenants. It is easy for a manager to fail to provide names of potential tenants that don’t necessarily qualify or are poor credit risks as this would involve more work for the manager.

A property manager is statutorily required to act for the sole benefit of the asset owner in matters that evolve from the relationship, whether or not those matters are seemingly insignificant or they are significantly material.

Information about a tenant whom falls behind on their rent must be immediately communicated to the asset owner. If your management company is using a software system that allows an “Owner Portal” then this information is readily available to see and anytime one has access to the internet.

If a manager receives information that a tenant has caused damage to a property the owner should be notified as soon as feasibly possible. It is easy for the manager to not disclose this information for fear of confronting the disgruntled owner or just not wanting to deal with the conflict associated with that situation.

Trust Account Duties

A trust account which holds deposits and rent monies for the benefit of the asset owner is a common ground for fiduciary duty breaches. The law precludes a manager from commingling of the client trust funds with broker or manager owned funds.

Additionally, it is a breach of fiduciary duty to make mortgage payments on broker owned properties from a trust account even if the broker quickly reimburses the account for the payments. The statutory prohibition against conducting personal business from trust accounts is strictly enforced.

Surprisingly another common example of commingling of funds occurs when the property management fee is not timely withdrawn from the trust account. Sometimes a delay of twenty-five (25) days could be considered commingling.

Trust funds must also be deposited with expediency. Some states require that deposits must be deposited by no later than the next business day.

Commingling of Trust Funds is a Serious Offense

Commingling of trust and broker funds is such a serious offense it can be grounds for revocation or suspension of a broker’s license in most states. Thus, this sole issue must be of paramount importance to a manager and property management company.


Managers owe fiduciary duties to their clients – this is the minimum standard owed. There are many ways to breach these duties which form the basis for the relationship between the manager and the client. It is important to hire a property manager who understands and abides by the statutory framework, understands fully what a fiduciary duty entails, and can both clearly communicate those duties and at the same time live up to them. It is important for owners to make sure they hire property managers who abide by these minimum standards.

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The Best PPC Management Company – How and Where to Find Them

PPC (pay per click) advertising has been seeing an increase in popularity, especially during these more difficult times. If you want to take advantage of this potentially cost-effective method of advertising, you need to carefully manage your bids and other investments into these systems on sites like Google and Yahoo. While you can do your own PPC bid management, you want to find the best options for your money, and sometimes this can mean buying software or hiring a professional service.

If you are just starting out and don’t want to spend a lot of money, it may be beneficial to manage your own PPC advertising so you begin to understand how it works. Many of these services allow you to set a maximum price you could spend per month, or have fixed rates per customer click. Carefully read the documentation on the website of the service you choose, so you have a basic idea of what you are doing.

One thing you can do when setting bid prices on these services is find out how much you could spend on a click and still make a profit. For instance, let’s say you were selling a Dingus that costs the customer $150. You discover you make a profit of $25 dollars on it. If only 1% of the people who click on your ad buy the Dingus and you wand to spend no more than $20 on ad space per purchase, you can do the math and discover that you don’t want to spend more than $.20 per click. You might have to do some guesswork when you first start out.

If you want to grow your PPC ad campaign, or if you simply want to hit the ground running, then you could buy one of the many software packages out there that will help you manage it. PPC bid management software will have algorithms and other devices that will help you get the positioning you want (or can afford) without spending more money than you have to. If you have advertise using multiple keywords at once and trying to do it yourself is too time consuming to be worth while, then this software might produce the best PPC management solution for you.

There will be those among you that are looking into spending thousands of dollars in their PPC add campaign, and might have even a hundred keywords or more to work on. You definitely shouldn’t do this by yourself unless you have tons of free time, for some reason, and while software might work, it probably isn’t your best PPC management solution for you, anymore. You might want to look into a PPC bid management company. These professionals will know exactly how to best manage your different campaign, keywords, and clicks, and will be able to customize a system for you that only humans could get quite right. And if you have any questions, there will be someone there to talk to you.

The short of it is, you should really only do your own PPC bid management if you are just jumping in or you have very small campaigns. If you are more serious and need to squeeze the best results out of your money, then you will want software or possibly a professional. If you are putting a lot of money and faith into your ad campaign, then you will probably find that real people will make the best PPC management solution for you.

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Warning Issued by OFT Regarding Debt Management Companies – Learn to Be Watchful of Your Own Company

Deplorable Debt Management Company Practice – Hoarding Funds

Each debt management company in the UK has hundreds of clients that depend on them for managing and repaying multiple loan debts. Each month, these people would faithfully pay their dues in hopes of finally settling their debts.

Unfortunately, a recent investigation conducted by a trusted research and news source (BBC) revealed that a large number of firms in the UK have been hoarding payments made by their clients, keeping them in the company coffers instead of turning them over to the lending bodies whom the clients are indebted to.

According to the findings of the investigation, it has become a practice among less trustworthy debt management companies to hold the money paid by their clients in an effort to persuade the lenders or creditors to agree to a settlement with lower interest rates and fees. This is all in the name of profit, which, while in itself is not completely a bad thing, becomes condemnable because it endangers the welfare of the trusting public. After all, creditors will be going after the borrowers under debt, not the company.

Debt Management Company Shut Down Due to Violations

As of May of 2011 there are already at least two companies that have been publicly condemned. These are Global Debt Solutions and Apex Debt Counseling & Management. The former was shut down for its lax monitoring of payments, while the latter hoarded payments then later ceased operations.

According to Andrew Smith, a manager of ClearDebt (a firm that welcomed 1,000 victims of bad debt management firms), there are at least four more unnamed firms that are in the practice of hoarding payments. Truly, clients of the said services should be more careful and watchful of their companies today.

On a sadder note, there were already 129 firms in 2010 that the Office of Fair Trading has issued warnings to regarding customer exploitation. The OFT has also been vocal that they won’t hesitate to suspend the Consumer Credit Licenses of any company found guilty of exploitation.

Screen Your Debt Management Company

Given these present circumstances, it is important for people who are yet to enter into debt management to carefully choose their company. It pays to take the advice of expert financial advisors and to conduct your own research as well. Take the time to visit the offices of the debt firms and personally talk with their in-house advisers. See if what they’re offering is not only attractive but also realistic.

As for those who are already in contract with a debt firm, always be vigilant about how your debt firm is delivering your payments. As a precaution, always follow-up each monthly payment with a phone call to your creditors. Ask if they were able to receive payment from your debt management firm, and ask for the status of your debt every quarter of the year.

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