Marketing Slides


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Marketing Slides

  1. 1. Current economic situation in USA
  2. 2. <ul><li>The world economy is mired in the worst financial crisis since the Great Depression. What first appeared as a sub-prime mortgage crack in the United States housing market during the summer of 2007 began widening during 2008 into deeper fissures across the global financial landscape and ended with the collapse of major banking institutions, precipitous falls on stock markets across the world and a credit freeze. These financial shockwaves have now triggered a full-fledged economic crisis, with most advanced countries already in recession and the outlook for emerging and other developing economies deteriorating rapidly, including those with a recent history of strong economic performance. </li></ul>economic situation
  3. 3. Current economic situation in USA
  4. 4. <ul><li>For many people, their personal identifies are wrapped up in their jobs—especially after having worked for so long at a particular company. The sudden loss of that job can wreak havoc on their self-worth and cause them to feel disconnected. The stigma and shame associated with unemployment can be overcome if we remember the following ways to survive emotionally after a job loss. </li></ul>How it is affecting people and families
  5. 5. How it is affecting people and families Emotionally
  6. 6. <ul><li>Losing a job can affect every facet of your life, including your marital relationship. When finances are the top cause of divorce, unemployment can push marriages to the brink. Self confidence is shaken. Money woes loom large. There is shame, guilt or blame. And anger. All spurred by an underlying current of worry. </li></ul>Interpersonal relationships
  7. 7. Interpersonal relationships
  8. 8. OR File Bankruptcy <ul><li>Be publicly embarrassed </li></ul><ul><li>Lose all of your assets </li></ul><ul><li>- Forced home sale </li></ul><ul><li> - Personal collections sold </li></ul>
  9. 9. Be publicly embarrassed
  10. 10. There is another choice <ul><li>Legal Debt Settlement </li></ul>
  11. 11. Legal Debt Settlement <ul><li>Debt settlement involves negotiating with a creditor or creditors to pay off a percentage of your total debts at an agreed upon settlement amount. Often, people choose to utilize the services of a debt settlement company rather than attempting to do it on their own. Debt settlement companies traditionally employs various negotiation strategies to help settle your debts and can eliminate between 40-60% of your original balances. </li></ul>
  12. 12. <ul><li>In order to fully understand and appreciate the process that takes place between debt settlement companies and credit collection agencies, consider the following: Creditors know that roughly 30% of the 1.5 million bankruptcies that occurred last year were on debt that was reasonably current. Traditionally, people survive by borrowing from one creditor to pay another. However, this process eventually fails when consumers run out of available credit lines and find themselves unable to make their minimum monthly payments. </li></ul>Debt Settlement…
  13. 13. If a consumer files for bankruptcy, it is very likely that the creditor will receive nothing of the balance that is owed to them. Therefore, a creditor is better off negotiating with a debt settlement company. Most debt settlement companies work with customers that have legitimate financial problems and honestly need assistance. Debt Settlement
  14. 14. <ul><li>The most important part of debt settlement is to complete settlement process with your creditors and or collection agencies. In order to do this, it is necessary for a debt settlement company to have you sign a contract and a document that legally authorizes them to negotiate with your creditors on your behalf; this is known as a “Limited Power of Attorney.” </li></ul>How it works…
  15. 15. <ul><li>Collections/Negotiation: </li></ul><ul><li>At some point, the creditor will sell the debt to collections agencies for less than the debt itself. It’s somewhere at this point that the negotiation begins and it can start to get a little complicated so I’ll use an example……. </li></ul>
  16. 16. Example: <ul><li>Let’s say you owe $1,000. The creditor knows they can sell a debt to a collections company for $200, taking a $800 loss on the debt. If a negotiator says they would be willing to pay $500 to “settle” it, the creditor will probably take it. They get $500, rather than $200 for selling it to collections. If it does go to collections, the collections agency bought it for $200 so they would gladly take an amount above $200 because it means they generated a profit off the bad debt. </li></ul>
  17. 17. Risks of Debt Settlement
  18. 18. <ul><li>Beyond the risk that you’ll be ripped off, there’s always the risk that creditors won’t negotiate with a negotiator. As you stop making payments, the late fees and the interest and everything else piles up. It may get to the point where it will make sense for the creditor to sue you and demand that your wages be garnished. </li></ul>Risks..
  19. 19. Your credit score will fall.. <ul><li>There’s no way around it. You will miss, by design, payments to creditors and they’ll report those missed payments to the credit bureaus. You’ll get 180+ day late marks, records indicating your debts went into collections will appear, and your score will plummet. If your score was already low because you were missing payments already, then the impact of this will be much lower. The reason why debt settlement is so appealing is because if you’re seriously considering it, chances are your credit is already lowered. </li></ul>
  20. 20. Alternatives to Debt Settlement