Until the debt separates us: talk about debts with your spouse

Image result for happy couple

Ah, the first weeks of a new relationship. The ideal time between the first stressful outing and when you should have your first discussion about credit. When you and your partner are more comfortable with each other, and the prospect of living and starting a life together, it’s time to start planning your financial future. This includes a discussion on each of your respective credit situations. Most people do not want to be the person who establishes or breaks a relationship depending on the financial situation of the other. However, when it comes to personal finance, bad credit can really get in the way.

Does your sweet half have bad credit?

Image result for credit checkLet’s put the points on the i. Let’s say that you have passed the phase of asking yourself where you are in the relationship. Your partner and you want to become serious. Usually, the first step is to move together. Your first apartment is just around the corner. Then there are people who want to skip this step and move directly to their first home together. But, what if your partner is not financially stable? It could spell disaster for your relationship and finances. There is no better time to seriously discuss your credit situation. Although it is almost always unpleasant, the discussion about credit is important, even if one of you is reluctant to have it. You certainly do not want to look selfish, or find yourself in the judge’s shoes, and end a good relationship because of something that seems trivial. However, the monetary situation of your partner is a valid concern to take into account. You do not want to move into apartment or house, and be engulfed under debts. How can your partner’s bad credit affect your financial future?

Attending to someone is a different story. When you are not fully engaged with another person, with no marriage in sight, it is always possible to develop your own financial situation, then help your partner with his own. If you have moved together, and can not afford to pay the rent, in the worst case, you find a way to pay back the money you owe and go back to live at home until your situation stabilizes. . Before moving out together, it would be a good idea to know your partner’s yearly income, his credit record and any debts he or she might have on the back. This is especially important if you plan to split the rent as well. Considering all the other expenses associated with renting an apartment, if your partner can not afford to pay their share, you will see your savings fall quickly. Once these concerns are on the table, you can begin to solve the problems.

When comes the weddingImage result for wedding

If you plan on marrying in marriage, you should have already discussed credit. With marriage, there are a lot of things to consider, such as buying a house or property, having children, and possibly retiring. Since you and your spouse will probably combine your income, and therefore your finances, it is very important to know where you are both financially. The acquisition of a mortgage, is, of course, a huge commitment that you could repay for years to come. An unstable credit situation could not only have an impact on your lives but also the lives of your children, if you plan to have one. If you want to be able to put money aside for them, making smart investments is the key. Opening a savings account and setting aside both is a good start. Make an effort not to get caught under a ton of credit card debt. This will have a huge impact on your future.

Discuss your situation and what you can do

Without a doubt, it is extremely important to know where you and your partner are financially. If your partner has bad credit, do not jump the trigger and do not take out the points immediately. If you have trouble understanding things, talk to a professional counselor. It will examine your partner’s annual income, financial stability, and give advice on how to start getting out of debt. Depending on how much your partner owes, this is a good idea, considering the repercussions of being stuck under a ton of debt.Related image

Consider the adoption of a legal agreement

If your partner’s credit situation is still worrying, you can still look into a cohabitation agreement, or, in the case of marriage, a prenuptial agreement. Contracts such as these are made to ensure that both parties are treated properly in case of breakup or divorce. This will divide your property in the way that you deem appropriate and will help you resolve any conflict that may arise during the separation or divorce process. Although this is another difficult subject to address, it must also be taken into account. Discussing your finances is an important part of any relationship. It may be just like a first outing, a stressful subject. However, ending up in an unstable credit situation would be even worse. Your partner could be stuck with debts. Talking about it first might help to take the necessary steps so that you can build a healthy financial future together.

Posted in Uncategorized

Bank Alternatives

The traditional approach when it comes to getting a loan, a mortgage or a refinance for your home would be to go to the bank. However, what are the other options that are available to you? Could you really save money not going to the bank? The answer is yes.

Save with a Mortgage Broker

 Save with a Mortgage Broker

There are several alternatives to banks, including private lenders, credit unions and other lending institutions.

The easiest way to find a less expensive financial source than a bank would be to visit a mortgage broker. Brokers know the market and know everything about the different financial products available to you. Mortgage brokers work for you, the borrower, and it is precisely for this reason that they seek to find you the best possible rate for your loan. They also take care of your shopping, so it’s a good way to save money and time.

Solutions for individuals who have a bad credit score

 Solutions for individuals who have a bad credit score

If you have bad credit, do not worry. It is still easy for you to get a loan, even without the banks.

Rental with option to purchase

If you have a bad credit rating and do not qualify for traditional loans, lease with option to buy is a wonderful way to start working in the same direction as the property of the house of your dreams. With the rental option, you basically have the choice to buy the house you want in a specific period of time.

Some of the benefits of renting with a purchase option include: paying a lower amount for the first payment, developing home equity, avoiding closing costs, and repairing your credit rating.

Private Loans

Another excellent source of financing for individuals who have misery with their credit rating is private lenders. These lenders are not interested in your income or your credit rating as banks are, and their lack of compliance with the standards and regulations means that they can close a file in just a few days, usually in less than 48 hours .

Seller Financing

 Seller Financing

Another option aside from the mortgage is financing by the seller. In this situation, the property belongs to the buyer, and the seller takes the role of the lender. The buyer pays the mortgage payments to the seller (this is not a lease but real mortgage payments). The buyer benefits first and foremost by buying a house, but also by building his credit. In case of default of payment, the seller is protected by the keeping of the note on the property. The seller can lend to anyone: those with bad credit, self-employed, bankrupt – name them!

Posted in Uncategorized

4 things you need to start doing

Image result for processBefore and during the process of undertaking we have many insecurities. There is always the doubt about whether the path we are taking is the way to achieve success. According to Moe Kittaneh, entrepreneur, investor and collaborator in the Entrepreneur magazine, you can mitigate these insecurities and risks if you follow the following 4 steps when undertaking a project.  

1. Find a niche

There are two main ways to identify what you want to undertake. The first is to find a problem that needs to be resolved. In Mexico and around the world, there are many challenges, therefore, there are many areas of opportunity to start a business. The second is that you have a well defined area in which you wish to play, considering the taste, or the experience and knowledge you have in it. If you have identified either of these two ways, you are on the right track.

The secret to finding a niche to undertake is to think in an original way. Define an idea that offers solutions to needs that have not been met. If your idea or solution already exists, look for ways to improve it, so you can face the competition.

2. Set clear objectives and rewards

Image result for checklist

As in personal finances, define objectives to make your company or project a reality, write them down and keep them in mind so that you do not forget to fulfill them. If you do not have concrete goals, you will advance, but without a fixed direction and without approaching the idea that you defined in the beginning. Another advantage of having clear objectives is that, each time you reach one, it will fill you with emotion, motivate you to continue with more difficult challenges and in the end you will be amazed at everything you can achieve. In addition, it will give you the feeling of constant progress.

In addition, if we add a reward to each objective fulfilled, we will feel even more motivated. What kind of rewards do we talk about? Reward yourself and your team when they meet goals, not everything is demanding and work, there is nothing wrong with spoiling yourself from time to time, after overcoming obstacles or meet challenges. Look for simple rewards, but that motivate you and your team.

You should consider that there are short, medium and long term objectives. The short-term goals are easier to meet, because you must do it today or this week. On the other hand, those of medium or long term are to be achieved in months or years. The best way to manage them is to divide them into smaller parts and thus reach them little by little.

3. Think positive

Sometimes, with so many challenges to overcome, our perspective can become pessimistic, because we do not know if our project will succeed. Also, you should know that there will be difficult challenges and there will not be an equal solution for everything, so you will most likely learn from trial and error. In this scenario, identify what you can improve and keep a positive outlook, you will see that it will be worth it when you see your goals.

If you feel that you can not take it anymore, take a little distance and look for other ways to help you face those problems that plague you.

Also, you must be prepared to face problems that you can not solve. Sometimes, there will be obstacles that you can not overcome, but that does not mean that the project as a whole will not succeed.

4. Enjoy what you do

Image result for funPerhaps the main motivator to become an entrepreneur is that you will dedicate yourself to what you most like to do. If you are not enthusiastic about the niche that you will attend or do not find the benefit of what you do, do not continue! Your project will become a burden.

Why should we enjoy what we do? Mainly to be happy, so we can transmit and sell our idea with more energy to investors and customers, which are key for a business does not fail. Also, if you love your company or project, you will always do your best to strengthen it.

In conclusion, to begin to undertake, you must be clear about the scope in which you can offer new solutions or think about several ideas to create an original company. Establish a plan with specific objectives to achieve a great goal and look for the positive side of entrepreneurship. Finally, do not forget to enjoy what you do, this will be essential to determine if you must continue or surrender.

Posted in Uncategorized

June 28 world tree day

 This Sunday is celebrated the world day of the tree, a day like this is worth stopping to reflect a few minutes on the trees, those living beings protective of the atmosphere, soil and water, shelter of birds and screen against the wind and the dust that can not move voluntarily, but that day by day are victims of man’s action on nature.

Image result for world tree dayThe Day of the Tree is a reminder of the importance of protecting wooded areas. Day in which society is mobilized to pay homage to something that is part of our lives but that we tend to forget and treat as if it were just another object of the urbanism that surrounds us. Schools and associations are mobilized by creating events of different kinds such as planting a tree, cleaning forests, carrying out family activities in nature that allow discovering the characteristics of trees or such simple things as simply visiting a park. These are initiatives that help to educate society from the root of the origin, instilling good practices to future generations that will replace us in the years to come.

# Nevertheless it would be convenient to remember its importance not only in the day that is celebrated, but not being aware every day of the importance of preserving these immobile beings since the trees are indispensable for the functioning of life as we conceive it. They are directly responsible for the oxygen we breathe and for many of the foods we eat. From them are extracted both healing substances and medicines and lethal poisons. Many of the dresses that protect us from the cold, from the soaps that clean us, from the paintings that decorate our home or from the numerous products with which the industry is supplied have an origin in vegetables. They hold the earth and defend it against the erosive factors of nature, such as rain and wind. They can provide us with shade, shelter and beauty. Life on Earth would not be the same without the presence of plants.

 And with a great phrase of John F. Kennedy I hope you reflect, if only today, on the importance of taking care of the environment that surrounds us.

“Trees are poems that the Earth writes in the sky. We cut them and turn them into paper, to be able to record our emptiness. “

Posted in Uncategorized


Image result for zaragoza fair ENOMAQ, OLEOMAQ, TECNOVID, OLEOTECLast week ENOMAQ, OLEOMAQ, TECNOVID, OLEOTEC and FRUYVER were held at the Zaragoza Fair, with very professional spaces where innovation, research and development have been the undisputed protagonists in some competitions highly supported by exhibitors and visitors. INBIOTIC-ESMEDAGRO, as a reference technology consultancy, we were present.

ENOMAQ-TECNOVID-OLEOMAQ-OLEOTEC and FRUYVER have been present at the Saragossa Fair from 24 to 27 February, closing their doors after four intense days of commercial and business activity. The success achieved with the joint celebration of the five contests reflected the optimism that is glimpsed in the agri-food sector, and strengthened its role as technological leadership in the international arena. The excellent data recorded – 1,096 exhibitors from 22 countries and more than 25,000 visitors – endorse the strength and consolidation of the agri-food industry and place the five events as the reference showcase in Southern Europe. They highlighted the 11 technological innovations awarded in the Technical News Contest and where the jury valued the research work, the promotion of quality, as well as safety and respect for the environment, among other criteria.

During four days, the professionals linked to each segment have had a unique opportunity to learn about the world’s biggest developments around wine, oil and stone fruits. The International Exhibition of Machinery and Equipment for Bodegas and Bottling celebrated its twentieth edition, which coincided with the fifth International Exhibition of Machinery and Equipment for Oil and Packaging (OLEOMAQ), the ninth edition of the International Exhibition of Techniques and Equipment for Viticulture (TECNOVID ), the fifth of OLEOTEC (International Exhibition of Techniques and Equipment for Olive Growing) and the fourth FRUYVER (International Exhibition of Techniques for the Fruit and Vegetable Sector). In this way, the linked sectors had their forum of international reference.

In addition to the presence of stands, there was a wide agenda of parallel activities, among which stood out the “Technological Innovations” contest, organized among the exhibiting companies, as well as the traditional Technical Conferences or the initiative called the ‘Winemaker’s Corner’ .

This event is an essential tool to publicize the technology and R & D linked to the wine, oil and fruit machinery industry. ENOMAQ, TECNOVID, OLEOMAQ, OLEOTEC and FRUYVER represent a presentation of the innovation and the new processes for the elaboration of these vital products for the development of the Spanish agricultural sector allowing to know the advances in technology and machinery within a compact and sectorized space. The innovation and the technology suppose the main bet of the companies linked with the wine and the oil and the hortofruticultura that participate in the living room and his card of visit.

Posted in Uncategorized

Interest charges 101

Related imageInterest rates play an important role in our financial market; They indicate the cost of loans. In other words, interest rates encourage lenders to provide us with the loans we need and want. The higher the interest rates, the more profitable it is for lenders to provide loans and other financial products. In turn, loans offer countless opportunities for borrowers to spend wisely and invest. In other words, this type of spending creates good debt and can lead to prosperous economic growth. On the other hand, too high interest rates can have a negative impact on economic growth because they often create high levels of bad debt. It is important for all Canadians to understand how interest rates are calculated before making decisions about applying for loans or credit. This article will provide basic information to help you understand general aspects of interest rates.

Fixed rate / variable rate

In general, most loan products offer two types of interest rates to borrowers: fixed or variable. Depending on your financial needs, one may be more beneficial than the other.

Fixed rate

A fixed interest rate means an interest rate that will not change for the duration of your loan agreement. This means that you will maintain the same interest rate as your payments are made and until your loan is fully repaid. Managing your finances well is the key to healthy financial habits. This will help you build a good credit rating and allow you to access a variety of different financial products. The best way to organize your finances is to know the exact amount you have to pay. Fixed interest rates can help you anticipate your payments and make sure you have enough money to pay for them. A fixed interest rate is calculated by the financial institutions in the same way as for the variable rate. It can be divided into two parts: the market premium rate and your own risk premium. The first is a base that depends on the market position; We can consider this as the basic cost of loans. Your risk premium is based on your financial history; This is usually found throughout your credit rating. Your risk premium is a percentage that will cover the lender in case you are unable to repay your loan.

Variable (or floating)

The second form of interest rate is the floating rate. As its name suggests, this is a rate that will change as your payments are made. The floating rate fluctuates with the market premium. When the market interest rate changes, your interest rate may be positive for you (lower interest rate) or negative (higher interest rate). When you negotiate your loan agreement, your risk premium will be granted to you in the same way as the fixed rate, based on your financial history. With a variable interest rate you share some of the risk with your lender, this one will offer you a lower interest rate by getting your loan. A variable rate can be a great option when you apply for a short term loan. In Canada, interest rates are stable and fluctuate rarely; This can be a great way to get a lower interest rate without too much risk. For example, the market premium is 3% and your own risk premium is 2%, which means that for the first month, your floating rate will be 5%, in case the market premium drops to 2%. % your interest rate for the following months will be 4%. It is important to take into consideration that the market can change positively or negatively.

Image result for percentage

Annual percentage rate

There are several ways to display interest rates. When signing a loan agreement, your interest rate can be calculated on a daily, monthly or more often on an annual basis. In fact, in Canada, the law is that any loan agreement must display the annual rate. An annual rate is the percentage of interest you will pay on your loan in a year. For example, if you have a 5% interest rate on a $ 10,000 loan, you will pay $ 500 in interest rates in a year. Here’s another example that can help you understand how you can turn your interest rate into an annual percentage rate. Say you have a 3 month loan of $ 1000, every month you have to pay $ 400 and there is a $ 30 activation fee. According to the calculation below, you are currently paying an interest rate of 23% on a three-month loan. Now let’s look at the calculation of a TPA: The best way to calculate this is first, find the monthly rate, then multiply it by 12 months. In this case, the monthly rate is 7.67% and the annual rate is 92%.

((430+ 400+ 400) -1000) / 1000) = 23% interest for 3 months

23% / 3 months = 7.67% per month

7.67% x 12 months = 92% per year


Interest Rate (Term) = (Number of Payments – Loan Amount) / Loan Amount

Interest rate (monthly) = Interest rate (term) / amount per month / weeks

Interest Rate (annually) = Monthly interest rate x 12 months

Legal limits of interest rates

In our last example, the TPA was 92%. In Canada, this is well above the legal limit. In fact, the allowable limit is at most 60%, including fees and charges. There is one exception to this allowed limit, with the payday loan industry, which is regulated by each province and has different limits. A payday loan is a loan of last resort in which you borrow an amount of money that you must repay on your next payday. This is usually a two week period. Payday lenders charge high interest rates and fees to their clients in order to make short-term profits. Here is a table showing the authorized interest rate caps for payday loans by province.

provinces Limit allowed for a loan of $ 100 with a term of 2 weeks TPA
British Columbia $ 23 598%
Saskatchewan $ 23 598%
Alberta $ 15 390%
Manitoba $ 17 442%
Ontario $ 21 546%
Prince Edward Island $ 25 650%
New Scotland $ 25 650%
New Brunswick

Understanding interest rates can help you make better financial choices. This will help you build your credit rating while saving money in the long run. It is important for you to negotiate your loan agreements and look for the lowest possible rates. Make sure you are fully aware of the annual rates and compare them before making any final decisions. Organizing your finances and creating a budget will help you make the right choices before borrowing.

Posted in Uncategorized

Is it better to pay off your debts or save your money?

You will likely need to ask this question frequently as you begin making increasingly important financial decisions throughout your life. In fact, as you read this, many people across the country are trying to determine what is most beneficial for their financial health: pay off their debts as quickly as possible or save their money for other things.

This is a difficult question to solve since everyone’s financial situation varies. A person might have accumulated a lot of high interest consumer debt, another person might not have it. Same thing for savings. People’s priorities differ with regard to the money they earn and save. Some people want to stock money to buy a house or for retirement, while others prefer to spend their money to live their lives to the maximum before settling. However, both choices come with their pros and cons, and the opinions vary a lot. While our advice may not be appropriate for your lifestyle or financial goals, we see many Canadians asking themselves this question. Here are our tips for people who are currently juggling between saving and paying off their debts.

Pay off your debts first

Image result for pay off debt Debts, especially consumer debts from credit card balances, are something that most of us will experience at one time or another. Since consumer debt accumulates over time, it may take some time before we realize the seriousness of the situation. High interest debt is a particularly serious problem because the longer a consumer waits to pay, the more it will cost him dearly. In addition, if you are a regular user of credit cards, it is likely that you will need to reuse these cards again before you have paid off your total balance. Then, if you continue not to pay your balance completely from month to month, you could end up in a vicious circle of revolving debts.


The advantage of paying your debts first is that you will be able to break the vicious circle of debts and start saving properly.

In fact, if you have a lot of high interest debt, it’s probably best to get started and pay off as much debt as possible as quickly as possible. In any case, your monthly minimum payments will decrease, making your debt more affordable.

Be aware that the consequences of not paying your debts can be just as, if not more serious than not having saved money. If you do not pay your debts, you may suffer the onslaught of a collection agency, which may seek to get a payroll seizure from you or any other legal action. This scenario is not limited only to high interest credit card debt. There are other types of loans that can definitely put you in the hot water if you fail to pay them back. Missing a payment on any type of debt is never a good idea, you will have to pay a fee, it will damage your relationship with the lender or creditor and the health of your credit will be affected greatly.

In the long run, repaying a debt saves you money, which can then serve you for productive purposes, such as retirement, owning a home or having an emergency fund.


The biggest disadvantage of paying off all your debts is that you could end up with very little or nothing in the face of an unforeseen situation that could arise in the near future. Unfortunately, you never know when an emergency may occur and you would be taken without money. If all your money has been used to repay your debt, you will no longer have emergency funds to get you out of this delicate situation. You will then have to load everything on your credit cards, creating a new, even larger, revolving debt, even if you try to get rid of it.

You will also have less money to invest in other avenues, such as in your pension plan. This means that you may not be able to retire at the age of 65 and will have to continue working in the next decade.

Save first

Image result for save first When it comes to saving, one of the most important practices you can maintain is to use some of your hard-earned money to create an emergency fund. In fact, many financial experts will recommend you to have the equivalent of 6 months of typical expenses in your emergency fund. On the other hand, a good deal of the money you make should also be spent on your retirement, and invest in an RRSP account. In any case, the advantage of prioritizing savings to pay off your debts is obvious, you will have access to money for your current and future expenses, in case an unexpected situation arises.


This brings us to some other benefits that come with saving your money. The main benefit is, of course, that in the face of an unexpected expense, you will not have to wait for your next pay check before you can handle the situation. However, there are other places where saving would be of great benefit to you. Once you have surplus money, you can set up an automatic transfer so that a specific amount is deposited into your RRSP. An RRSP account is an excellent financial tool. First, any amount you contribute to your RRSP is tax deductible. With an abundant RRSP, you can not only retire earlier and with greater ease than those who do not have savings, but you can also take advantage of the RRSP Home Ownership Plan if you decide to buy your RRSP. ‘to buy a house. The Home Buyers’ Plan allows you to withdraw money from your RRSP to fund the down payment of your home. You will then have 15 years to repay this money.


The downside of saving your money instead of paying off your debt is pretty clear. Letting your debts go out of control can lead you to a situation where it will be even harder to solve other financial and debt problems in the future.

And, once you have fallen into the trap, it can be extremely difficult to get up. The longer you allow your debts to accumulate, the more difficult it will be to pay them back. As a result, your credit will be negatively impacted, which will lower your credit rating and make it more difficult to approve a loan. Even people with a lot of money can have a low credit rating, so imagine not having money because of your constant debt combined with poor credit.

What is the best answer?

The problem with this question is that you have to look at both sides of the coin and that the answer depends a lot on a person’s financial situation. Many professionals will tell you that paying off your debts should be your first priority. Again, it depends on the type of debt you have to pay back. High interest debt can lead to serious financial problems. So it’s best to handle the problem before it gets out of hand. However, a low interest rate debt of another type of loan may be easier to manage because of low costs and repayment schedule.

So your best mie will probably be working towards stability, using both options to achieve a balanced budget and lifestyle.

For high-rate debt, it may be beneficial to spend as much money as possible on the repayment, or at least to repay more than the minimum monthly payments. Then you can set aside for your emergency fund. The best thing about a typical savings account is that you can add anything you want. After all, every dollar counts. Then you will have a background to help you in the event of an unforeseen situation. Once you have found a way to balance your payments and savings, you will have learned an important lesson on financial stability.

Posted in Uncategorized

Why was my loan application denied?

Image result for denied loanGetting a refusal of a loan application is of course annoying, but rest assured, this happens very often. In addition to your financial situation, other factors may influence your loan application. The best way to increase your chances of success is to analyze your financial situation first. Here are the most popular reasons for refusal. Knowing them may help you avoid a negative answer.


Debt Ratio

If your debt-to-income ratio is too large, most creditors will consider you a risky client and therefore refuse your request. The debt-to-income ratio is the percentage of your monthly income (before taxes) that is used to pay your debts. If too much of your monthly income goes to pay your debts, it is likely that the creditors will refuse the loan, because in their eyes, the loan would only make your situation worse.

Credit history poor or absent

Image result for poor creditIn order to obtain a loan, you need a credit history. Credit cards, for example, are a good way to accumulate more credit history. If you are afraid of credit history, it is unlikely that a creditor wants to make a loan. Before agreeing to make a loan, any creditor will look at your credit rating. The higher the rating, the more it proves to the creditor that you are responsible with your loans. They will also check to see if you have any bad comments, such as bankruptcy, insolvency, reaching your credit card limit, and so on. Taking care of your credit history should be one of your priorities, as it may help you make better progress in life, especially when buying a home or car.

Many investigations of your file

An investigation of your file takes place each time you make a new application for credit. Unfortunately, having too much investigation of your file will work against you when you apply for a new credit. In concrete terms, too many investigations are proof that you have desperately tried to obtain loans without having any success. This presents you to the new creditor as an unwanted customer because the other creditors have refused you in the past. Learn more by clicking HERE.

Employment situation

Having an unstable job or not having a job at all are the two main reasons why loans are often refused. The creditors want to have at least a minimum of security when they make you a loan. Thus, your employment situation is often a way to reassure them. So if you do not have a job with enough income it makes you a risky client, which decreases your chances of getting the loan.

Accumulation of debts

If you are already having trouble repaying your debts and your payments are often late, it is highly likely that the creditor will deny you another loan. It’s hard to handle the extra debt, but once you get organized, put the payments back on time, once you’re on the right track, getting a new loan will be easier. . Use your refusal of credit as a source of motivation to improve your financial situation and work to achieve it.

Member of a financial recovery program


If you are on the verge of bankruptcy or have enrolled in a financial management assistance program, then congratulations. You are on the right path to a better financial situation. Even so, you will still not be approved for a new loan. By being part of financial management assistance programs you will demonstrate to your creditor that you will not be able to manage another loan responsibly. Once you leave the bankruptcy situation and have completed your assistance program, do not hesitate to reapply to apply for a new loan.

Learn more about bankruptcy loans and the consumer proposal.

Collection of debt

Image result for collection of debt


A collection of debt is when you have a credit account (credit card or loan) whose payment deadline has long passed. Usually, in such a situation, the creditor has already sent the collection agents to recover his money. Having a debt collection is the worst thing if you want to apply for new loan. Most likely, if you are in such a situation, the loan will be refused.

Even if you have been refused the new loan, you can still improve your financial situation soon. The first step in rebuilding your reputation is to understand why you have been denied. So, you could avoid the same mistakes and finally get the loan.

Posted in Uncategorized

The taxation of contributions to Insurance Plans Insured (PPA)

Image result for taxation

Saving or constituting a capital or income that serves to supplement our retirement pension is in itself a more important reason, but if we achieve a fiscal saving in the process, we add one more reason.

This is the case of the Insurance Plans Insured (PPAs), it is a life insurance policy with the guaranteed interest rate and that although it has coverage of death, its main purpose is to constitute a capital or a receivable at the time of our retirement The PPA, therefore, have the same purpose as a Pension Plan, and with them they coincide in two points in the liquidity and in its advantageous taxation. In the first point, the insured may not have the accumulated value in their PPA (contributions and interest generated) until the time of retirement or death but there are exceptions, such as tota, severe illness or long-term unemployment duration. In return, we have a very favorable tax regime in the contributions we make to the PPA.


Taxation of contributions, general rule

The premiums paid to the PPA can be subject to a reduction in the taxable income of the IRPF:

  • Taxpayers up to 50 years : 10,000 euros or 30% of net income from work and economic activities (the lowest).
  • Taxpayers over 50 years old : 12,500 euros or 50% of net income from work and economic activities (the lowest).

The maximum annual contribution is joint for all the social welfare systems, that is, it includes pension plans, social security mutual funds, insured pension plans, corporate social security plans and dependency insurance.

In addition to these direct contributions to our own PPA, there are specific cases. The first case is that of taxpayers whose spouse does not obtain net income from work or economic activities, or whose amount is less than 8,000 euros per year. In this case, the tax base may be reduced by the amount of the contributions made to the PPA of which the spouse is the holder, with a maximum limit of 2,000 euros per year.

The second case is in the contributions to PPA of relatives in direct or collateral line up to third degree, with a degree of physical disability equal or superior to 65%, psychic equal or superior to 33%, as well as of people with disability that have a disability declared judicially regardless of his degree, in which there is a tax limit of up to 10,000 euros per year. Of course, the contributions of family members, plus those of the person with one of the degrees mentioned, can not exceed the maximum set of 24,250 euros per year.

It is important to point out that those contributions that could not have been subject to reduction in the taxable base due to the insufficiency of the same or to the application of the percentage limit, can be applied in the following five years, but always respecting the indicated limits.


The specific case of the Basque Country and Navarre

The Basque Country and Navarre are governed by their own provincial haciendas, which is why they have their own tax regulations. In the Basque Country there is no percentage limit of the income from work and economic activities, so that the contributions made may be subject to reduction in the General Tax Base, regardless of the origin of the income. The limits differ between the different provinces, in Álava and Vizcaya, the limit of private (non-business) contributions to pension plans including PPAs is 6,000 euros up to 52 years and from that age add 500 euros for each year that exceeds 52 to a maximum of 12,500 euros. In Guipúzcoa the limit is 5,000 euros regardless of their age.

In Navarra, a maximum contribution can be made with a deduction of 8,000 euros, which for people over 50 years of age rises to 12,500 euros, with the same limits as in common territory: 30% of their income in general and 50% from 50 years old.

Posted in Uncategorized

Take advantage of your WhatsApp to sell better

Image result for whatsapp

Fast, easy and free. This is WhatsApp, the most used messaging application in Mexico that today has everyone delighted by the ease it offers to optimize our communication in an empathic and very personal way.

We believe that we can only use WhatsApp for messaging, or not? Well it’s time for you to know that this app can not only serve you to send beautiful messages with cute faces; It can also help you boost your business and close sales in a more personalized and faster way.

Calls to action had never become so attractive with the arrival of this social network.

Do you want to know how to achieve it?

Do not stop reading!

We can walk down the street and find ads like this. And without a doubt, it is very curious for the buyers of a product to find the novelty of asking for something that interests us through a simple WhatsApp message. What comfort!

And, yes, it is, because in this way we can save time to start trading the product that we want so much. WhatsApp is a great opportunity to close sales with our customers.

We have already put in your shoes to analyze why this platform is so effective and what are the advantages of engaging in a conversation through this medium.

And is that almost all the numbers of our prospects are in WhatsApp. There are 35 million Mexicans with an active cell phone number who have an account in WA and therefore, it is necessary to learn certain techniques to get the most out of this digital tool.

But beware! Sending a message through WhatsApp to a prospect does not mean that you have to lose the formality or that you can send messages every time to ensure a successful sales closing. On the contrary, using WA requires tact and empathy to achieve your goals without SPAM.

The first impression is what counts

The first impression is what counts

It does not matter that you are not talking face to face with your prospect: you have to maintain an adequate communication to generate more impact on them. Therefore, it is necessary to learn that not all your sales will be developed through WhatsApp.

This is just one step in the process that you should take advantage of very well. Therefore, let’s start with an example of this so that you can learn it better.

You are the seller of cell phone accessories and in addition to having a store or place in a city site, you also have a catalog of images so that your potential customers are aware of your promotions and your new products.

Then you receive the visit of a person who had the opportunity to see your store but who also left his cell phone number to receive the newest of your products and make a sale in the future.

A few days pass and with your new products, there is also the opportunity to call your prospect to tell you that you have new cell phone accessories. You ask if you would like to see your catalog with your new products through WhatsApp and you answer yes.

Finally, you are about to get in touch with your client through this platform and this is where we will show you a series of recommendations to reach the glorious destination of sales closing and thus win the hearts of your customers.

Never send SPAM

Never send SPAM

It is good that you want to keep in touch with your prospect, but if you send more than once messages in a massive way with colorful content and untimely, then your prospect will block you and you will lose an opportunity.

As much as possible, do not send unwanted messages to your customers in this way. Therefore, short and personalized messages are ideal to add that value that your client expects. Never forget to ask if you want to send images or videos about your products.

Do not write as if you were a bot

The best thing about WhatsApp is that you can personalize very well with your customers and achieve that match and the confidence you need to believe in you and your products.

The best way to achieve that empathy with your customers and prospects is to speak to you as if it were one of your contacts but in a more friendly and respectful way, without falling into formality.

Also, try not to write very long texts because otherwise, you will fall into the error of SPAM content: people do not like to read such heavy messages. The best are the brief, friendly and separate messages, where you go to the point of what you want to talk, without detours.

And as a safety data, avoid using names so that your prospects and customers can identify you more easily, such as “Ale Ventas” or “Miguel Accesorios”. It will always be better to show your real name and surname, in this way you generate more trust among your buyers.

Use a good profile picture

Use a good profile picture

The best way to earn the trust of your customers is to get to know you better. And for this, you must have a profile picture on WhatsApp with a good quality, where your face is distinguished and that does not look pixelated.

The image you have will speak a lot about you, so you should choose a good quality photograph, preferably smiling. Do not use images of your products, or your personal tastes. It has to be yours and nothing else

Avoid capitalization

One of the worst mistakes you can make is writing all the time in capital letters. It is clear that the best thing is that your messages are the most prominent for your customers, but doing it in capital letters is synonymous with being yelling when you have the person in front.

If you do not want your prospects and clients to block you or simply ignore your messages, avoid using capital letters.

Take advantage of the emojis

Take advantage of the emojis

WhatsApp has a resource that you have surely used and that has become the symbol of this application throughout the world: the emojis.

And is that these little faces can help us describe any situation without using a word. Well, it does not mean that you are going to write to your clients and prospects in this way, but when you use them you bring that warmth that your readers value a lot and above all, empathy.

Learning to use them can give confidence to your messages and achieve a successful sale closing.

Use the PDF in your favor

If you are curious, you have already noticed that you can send PDF documents by WhatsApp. And if you want to avoid the massive sending of images with the news of your products or services for your clients and prospects, the ideal is that you have a version in this format of your catalog.

The PDF is a file format that allows you to view images and text in a simpler and more friendly document.

Provide valuable information to your customers.

Provide valuable information to your customers.

If you want to be that essential contact for your clients, you can send each morning a minimum informative text with useful information that your contacts appreciate.

It can be the weather of the day or the weather forecasts for a whole week, so that they only receive one message of yours per week.

Create dynamics such as sweepstakes or contests

The benefits of having all your prospects and customers on WhatsApp is that you can organize contests that motivate your contacts to keep up with your news. Therefore, the following tips can give you ideas to boost your networks and know you more.

Define if you want to make a draw or contest: Although both dynamics are interesting, the recommendation is that you organize a contest because this way you will achieve more interaction with your contacts. Your participation will be more active and you will increase your visibility among your own contacts.

A positive result of these dynamics are the recommendations that your own clients will make of you.

Make clear the rules: Before starting your contest, do not forget to make clear the rules of your contest so that you do not have any inconsistency in the process of the contest.

If there are things that will be defined during the dynamics and that are not foreseen in the rules, you should also make it clear. Try to be clear and not so long.

Make a visually appealing dynamic: All the content that you are going to make must be striking and personalized, that is, attract your contacts to the dynamics and make this a fun experience.

Use the potential of other social networks: If possible, promote your contest through the social networks of your products. Thus, you can reach many more people and invite them to join without any problems.

Using your WhatsApp to boost your products will help you broaden your horizons about what your customers prefer and to whom you can sell them more.

Remember that this app is just a complement, since you can help other social networks to integrate a strategy that opens the doors of successful sales.

Learning to optimize your time and your sales will always give you the extra time to achieve your goals.

Posted in Uncategorized