Collect Your Debt With Ease

It is often found that when we are running a business there are many transactions that take place in credit. It is the timely collection of the money which allows the business to run smoothly. Now the question arises- do we get all the debts recovered within the stipulated time? The obvious answer is a no. Now, there are many ways by which you can recover your money within stipulated time. There are ways where you really have to do nothing, but get hold of that particular firm which is into the business of collecting debts.

Collection Agency

There are many collection agencies which usually earn a portion of the amount of money it gets back from the debtor. On the other hand, there are collection agencies which buy a certain portion of debts of the whole debt from the debtor at some lesser amount. In these cases, the firm retains the full amount of the money which they recover. The agencies have expert collection agents who are trained in such a manner that in maximum of cases they are successful in recovering your money from the lender.

Skip Tracers

Apart from approaching a Collection Agency there are a few things which have to be kept in your mind. There are possibilities that your lender becomes absconding and you are in dark about their whereabouts. Through skip tracing agencies you can find out someone’s whereabouts. This process is performed by a skip tracer, a person who is an expert in pulling out the absconding lenders. There are many agencies which offer this service in lieu of certain remuneration. And they have gained quite some amount of importance in recent times.

Once you think of collecting debt from an old debtor generally there are chances of not finding the proper details of the person intended for. Here the skip tracers play a very vital role. Till such time you are not sure whether you will be able to collect it from the desired person or not. Once you get all the details of the person you can easily approach a collection agency and go ahead to recover you money.

Individual Debt Collectors

Apart from the above option you could also hire an individual debt collector. In this case, there is much controversy involved thus maximum people do not opt for individual collectors. Though they take less remuneration, but they are not enlisted in any agency or company. Thus, it is advisable to think before recruiting such individuals.

Thus, when it comes to getting your hard-earned money back always give it in the best hands. The hands where you money is secured and is sure to travel back to you.

Halal Superannuation: What You Need to Know

 

Every middle aged individual has thought about retirement at least a few times. It is a time of one’s life when all worries, especially money-related ones, should be out of mind and out of sight. How can you as a Muslim ensure that your halal superannuation will be a peaceful one? Here are a few things that are good to know and will help you plan ahead as the time for retirement draws closer;

How should pension savings be processed?

Pension savings can be a sum of money from your salary that goes into a separate account on a monthly basis, collecting interest on the accumulated amounts over time. On the other hand, it can be a lump sum that is the product of a percentage of your salary that has been deducted over the years and handed over to you by your employer at the end of your employment. Whichever the method of obtaining these savings is, you must have a proper plan in place for how this money is going to support you and your family in the years to come when you will no longer be able to work. This plan should be within the framework of Islamic finance as well as be one that will reap the best benefits for you at the same time. For example, your retirement plan will have to take into account any and all future tax you might have to pay and how to cover any outstanding debts you may have as well.

How can the safety of money be assured?

The safety of this money is largely in the hands of the financial institution that you have selected to trust with your savings. By making prudent Islamic financial investments and managing your wealth the correct way, this institution will be able to maximise returns to you from your superannuation by making more money out of it. Also, you must consider the possibility that the safety of the money will be increased if you place it in a saving account with a trustworthy financial institution rather than take the risk of trying to ensure its welfare on your own.

How can the portfolio be personalised?

Personalising your investment portfolio to suit your specific requirements is something that needs to be properly planned and carefully put in place. Especially when it comes to your Islamic superannuation, you can choose to either let your financial service provider manage your portfolio for you, or work alongside your advisor to select your investments. Either way, an expert in the subject of halal superannuation will be able to recommend and invest in those types of investment that fall in line with the guidelines provided by Sharia law as well as yield the best returns for you as an individual planning your retirement. A wide variety of other factors such as your current and non-current assets, tax situation, willingness to take risks, etc. will also need to be considered when planning your personal portfolio.