Articles by Neil Robertson on ArticleSnatch.com

What Are the Best Debt Fixers?

Sat, 18 Apr 2009 00:00:00 -0400

If you're in serious debt you are likely looking for someone or something that can sort out your debt fast - desperately seeking debt fixers! There are people and organizations that can help you, but the solution won't always be quick or easy. The most important thing is your commitment to sorting out your problem, with or without help. Debt Fixers - What Are Your Options? Doing it yourself - if your debt problem is not very serious then you may be able to sort it out without any help - do a thorough budget, increase your income if you can, reduce your spending, and make a plan to pay off your debt. This solution is not recommended if your debt problem is serious, if for instance you are already missing payments. Getting the help of debt counselors, debt management companies, or looking at debt consolidation. Debt counseling and debt management companies may be able to help you by negotiating with your creditors, getting interest and fees reduced or frozen. A debt consolidation loan might enable you to reduce your monthly payments to the point where you can afford to pay off your debt over the long term. **End Summary** Topics: debt fixers]]> debt advice free]]>]]> About the Author: ]]> If you want more free information then visit Neil Robertson's site, Debt Advice Free . This site provides debt advice and information from someone that has been in a debt crisis situation and is now debt free. Find out about cars debt and how you need to be careful with secured debt if you are declaring bankruptcy.

Have You Bought Cars and Incurred Debt? What Are the Consequences in Bankruptcy?

Sat, 18 Apr 2009 00:00:00 -0400

With many people losing their jobs at the moment that are going to be a lot of cars debt problems, where people cannot afford the repayments on their cars. What should you do if you are in this situation (especially if you are considering bankruptcy)? Cars Debt - What Type of Debt? When cars are purchased they will usually be financed either with a loan secured against the value of the car (motor finance) or by a personal loan. This article is concerned only with cars financed with a motor finance loan secured against the car. Cars Debt - What Should You Do? If you are having trouble making the payments on your car loan then there may be things that you can do. Investigate whether it is possible to re-finance the loan over a longer period - this could cut the payments quite significantly. If you are unable to meet the payments and can't refinance then you need to speak to the loan company urgently. Unless you can agree a payment holiday with them they will take the car back. **End Summary** Topics: secured debt]]> bankruptcy]]>]]> About the Author: ]]> If you want more free information then visit Neil Robertson's site, Debt Advice Free This site provides debt advice and information from someone that has been in a debt crisis situation and is now debt free. Find out about how you can reduce or eliminate debt fees

If You Have Money Worries Then Confront Them Head-On

Sat, 18 Apr 2009 00:00:00 -0400

If you have money worries then the worst thing that you can do is ignore them. You need to take action as this will stop the situation getting any worse and will give you back a sense of control. Your Money Worries - What Are They? Are you worried about your level of debt, low income, or being able to invest for the future? The solutions that you adopt will depend a lot on the answer to this question. One of the first things to do is to write down all of your income and expenditure, any debts, and any savings or investments that you may have. This will form the foundation of your decision making process. Money Worries - Debt If you have a high level of debt and are worried about being able to repay it then you should seek the help of the many debt-related charities to help you resolve the problem (e.g. the Citizens Advice Bureau or the Consumer Credit Counseling Service in the UK). **End Summary** Topics: money worries]]> budgeting]]>]]> About the Author: ]]> If you want more free information then visit Neil Douglas-Campbell's site, Debt Advice Free This site provides debt advice and information from someone that has been in a debt crisis situation and is now debt free. Find out how to reduce or eliminate the many types of debt charge that can be added to your account if you are having trouble with repayments.

Old Debt - Does it Ever Expire?

Sat, 18 Apr 2009 00:00:00 -0400

If you have a very old debt you may be wondering whether it ever becomes too old to be chased/recovered (doe it expire?). The answer is that (in the UK) unfortunately a debt can exist indefinitely and the creditor has the right to contact you about it (although you as ever are under no obligation to speak to them about it). The status of the debt and the measures that can be taken to chase it do change after a period of time. Old Debt - What Happens to it? If a debt goes for a period of 6 years without any attempt at contact between the debtor and the creditor it becomes "statute barred". This means that although the debt still exists the creditor cannot take any legal action relating to it. So you cannot be given a County Court Judgement or be made bankrupt over a statute barred debt. The fact that no action can be taken often means that creditors in this situation will accept a nominal sum to settle the debt. **End Summary** Topics: old debt]]> debt advice]]>]]> About the Author: ]]> If you want more free information then visit Neil Robertson's site, Debt Advice Free . This site provides debt advice and information from someone that has been in a debt crisis situation and is now debt free. Find out what happens at a bankruptcy hearing and a lot of other useful information.

Debt to Pay - What is the Best Way?

Sat, 18 Apr 2009 00:00:00 -0400

If you have debt to pay you may be wondering what is the best way to pay it off. There are a number of competing debt repayment methods or schemes that will tell you that there's is by far the best way. I fact there is no one perfect way to repay debt, the ideal way for you will depend on your own situation an personality. Consider the following 3 approaches: Debt to Pay - Pay off the Most Expensive First This method makes logical sense. You sort your debts into order of the interest rate that they charge and use any additional income that you have to pay off the most expensive debt first. In this way the money that you pay off your debt saves you the most interest. Debt to Pay - Pay off the Smallest First One criticism of the above method is that you might spend a long time paying off an expensive debt and not see very much progress. This alternative method sorts your debts into order of their size. You then use as much income as you can to pay off the smallest first. **End Summary** Topics: debt to pay]]> debt advice]]>]]> About the Author: ]]> If you want more free information then visit Neil Douglas-Campbell's site, Debt Advice Free . This site provides debt advice and information from someone that has been in a debt crisis situation and is now debt free. What is the cost of bankruptcy and should you be trying to avoid it?

Debt Advice Free - Don't Pay Upfront

Fri, 30 Jan 2009 00:00:00 -0500

Many companies have sprung up to take advantage of the explosion in consumer debt and the inevitable problems that follow. Many of these companies are reputable organizations that will genuinely try and help but unfortunately some are simply scams that will cost you money and sometimes make the situation worse. A simple rule is to only get debt advice free, and refuse to work with any company that tries to charge you upfront fees. What Is a Debt Problem? A problem with unsecured debt can be identified by the fact that you have difficulty making your monthly payments, or that these are taking an unreasonably large proportion of your income. Note that you may have a debt problem even if you make your payments regularly. A classic sign of debt distress is using credit from one source to make payments on other debts. This is a so-called "debt spiral" that can very quickly get out of control. What Solutions are Available? The following solutions relate to the UK, and specifically England and Wales. **End Summary** Topics: debt advice]]> debt solutions]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog for advice on debt from someone that has been in a debt crisis situation and is now debt free. Would you declare bankruptcy ? If so, visit my site to see what other options are available to you.

Free Legal Advice For Debt Resolution

Fri, 30 Jan 2009 00:00:00 -0500

If you have a problem with debts you need good legal advice. However the last thing that you need is advice that you have to pay for. It is true that advice on debt relief is a specialist area requiring skills/qualifications, so how are you going to get his advice free? Fortunately there are charitable organizations that will provide free advice. There are also companies/legal advisers that will provide free advice initially in the hope that you will sign-up for something they can charge you for later. Charitable Organizations Providing Free Advice For Debt Relief In the United Kingdom there are two main charitable providers of free advice on debt relief: 1. The Citizens Advice Bureau. Many CABs will have specialist debt case workers that can provide top-quality free advice. However there may be a a waiting list to see the debt case worker, as they are very much in demand at the moment. You are definitely not on your own with your debt problems. **End Summary** Topics: debt advice]]> debt solutions]]> debt relief]]>]]> About the Author: ]]> Visit my site for more information on debt advice in the UK All my advice is based on my own experience and is focused on making sure you get your debt advice free

Turn the Tables on Debt Collection Agencies

Fri, 30 Jan 2009 00:00:00 -0500

When you first get into a debt problem situation with unsecured debt, you may have picked up the advice that you should notify all your creditors about your problems. I'm sure that this is a good idea, but don't expect it to change the way that your creditors deal with you. In most cases they will pass your details to their own debt collection department or even an external debt collection agency that will pester you endlessly over the phone and by letter. It doesn't matter if you told them 2 days ago that you could not pay, they will still phone again just to make sure that you can't pay now (and to keep the pressure on). How You Can Turn the Tables on Debt Collection Agencies Most people don't realize that you do not have any obligation to speak to your creditors about your debt problem. With the exception of secured debt such as your mortgage, speaking to them doesn't usually change the outcome. Creditors will follow their own debt collection procedures more or less whatever you do. **End Summary** Topics: debt collection]]> debt advice]]> debt solutions]]> debt assistance]]>]]> About the Author: ]]> Visit my site for more information on debt advice in the UK . All my advice is based on my own experience and is focused on making sure you get your debt advice free .

Seek Help With the Underlying Causes of Debt Problems

Fri, 30 Jan 2009 00:00:00 -0500

When you look at the reasons why people have go into debt, I think it is possible to split them into two groups, those thrown into a debt crisis situation by things outside of their control (or the actions of others such as their spouse) and those that have been to some degree or other reckless. "Blameless debtors" would include those in debt as a result of ill-health, redundancy, or the accumulation of debts by a partner/family member without their knowledge. "Reckless debtors" would include people that habitually spend beyond their means. Perhaps they took out a much bigger mortgage than they could really afford. The sort of people that are always driving the latest car and wearing the latest fashion who might be the envy of their friends, but in reality everything is going on the plastic. If their spending habit is really out of control they might be able to get themselves into a debt crisis situation without any external influences. Less reckless debtors might be able to keep going as long as nothing goes wrong, but as soon as they suffer any drop in income they are in trouble. **End Summary** Topics: debt problems]]> debt advice]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free

What Happens If I Declare Myself Bankrupt?

Thu, 29 Jan 2009 00:00:00 -0500

Bankruptcy is the debt resolution of last-resort in the UK, and still carries with it a stigma. It is also the debt solution that has the most devastating affect on your ability to get credit or a mortgage in the future. It is difficult to separate fact from fiction in the area of bankruptcy, so what happens if I declare myself bankrupt? It is important to note at this point that declaring yourself bankrupt is not something that you should do lightly, and you should seek qualified advice. A very important point concerns your home if you own it jointly. There may be steps that you can take to sell your share of your home to your partner/another family member which would remove the risk of it being sold. Get specialist advice on this. You will need to get a form from your local court that you will have to present when you declare bankruptcy. You should also check at this point what the current fees are for declaring yourself bankrupt (485 at the time of writing, or possibly 335 if you are on income support). This form will need to be filled in before you petition for bankruptcy. **End Summary** Topics: bankruptcy]]> debt advice]]> debt solutions]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog for advice on debt from someone that has been in a debt crisis situation and is now debt free. Would you declare bankruptcy ? If so, visit my site to see what other options are available to you.

Debt Crisis - Are You in One?

Thu, 29 Jan 2009 00:00:00 -0500

Debt is the word seemingly on everyone's lips. Whether it be concerning governments, financial companies or individuals everyone is interested in whether they have too much debt. With the economic situation going from bad to worse it is worth reviewing your situation to see if you have too much debt and whether you are (or potentially could in the future) be in a debt crisis situation. Debt Early Warning, Debt Problem, or Debt Crisis? There are no exact definitions here, but I'll have a go at defining these states and the likely outcomes if you do nothing. Also what steps you need to take to get yourself free of debt. Debt Early Warning Do you worry about the amount of debt you have (whether secured or unsecured). Is it starting to represent a significant proportion of your monthly budget? (If the word budget is a strange one to you then you have more work to do before working out how serious your debt problem is). Can you only afford luxuries like holidays or meals out by putting them on a credit card? **End Summary** Topics: debt crisis]]> debt advice]]> debt problems]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free

Waiting For Debt Help and Free Debt Advice?

Thu, 29 Jan 2009 00:00:00 -0500

There is no doubt that there is a need for debt help and free advice to deal with the UK's debt epidemic. Even before the credit crisis the country was dangerously overstretched. Now that the panacea of cheap re-mortgages has been removed the true size of the problem is starting to reveal itself. In addition to those that have overstretched themselves during the era of cheap credit there are also those that are now suffering redundancy or reduced business/bonuses/commissions. Debt charities and debt management companies are stretched to breaking point by the numbers of people seeking help. This only increases the danger of desperate people falling prey to the many companies that would take advantage of them. If you need urgent debt help or free debt advice in the UK then there are a number of options available to you: 1. The Citizens Advice Bureau. With offices all over the UK there is sure to be a CAB near you. The advantage of using the CAB for your free debt advise is that they can advise you on other legal issues that you may have. **End Summary** Topics: debt advice]]> debt solutions]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free.

Debt Collection Protection

Thu, 29 Jan 2009 00:00:00 -0500

People that are in debt are often scared of debt collectors, but in fact (unless you have borrowed money from a loan shark or the criminal underworld) they have very little to worry about. Debt collection protection laws exist in many countries (certainly in the UK) and actually give very little power to the debt collector and a lot of protection to the debtor. The best idea if you are experiencing problems with debt collectors is to seek qualified advice since the range of rules per country/state are very complicated and depend on many factors. There are some general principles that apply to most debt collection protection laws: 1. Debt collection agencies are not allowed to harass debtors. Activities that constitute harassment vary from place to place but would typically include calling too frequently or at unusual hours. 2. Revealing the debtors situation to other people (employers etc.). Debt collection agencies are supposed to take all reasonable steps to ensure that their actions do not alert other people to the debtors situation. This would include speaking to your boss at work or someone that lives in your home. 3. Using abusive language. **End Summary** Topics: debt collection]]> debt advice]]> debt solutions]]> debt assistance]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free.

Credit Advice and Debt Help - Question What Your Adviser Tells You

Thu, 29 Jan 2009 00:00:00 -0500

There are many people that will offer advice on your debt problem. When people give advice it is usually affected by their own prejudices and experiences. Therefore if you are in debt and looking for credit advice and debt help in the UK (or elsewhere), you will receive a range of different advice. People you know might tell you that you need to keep struggling to pay off your debt. This could be because they have no knowledge of debt relief procedures or that they resent the idea that people can be relieved of some of their debt. Any companies that you get advice from will be influenced by the solution that they are selling, and how much money they can make out of it. Even charitable organizations will be staffed by people who take their own life experience (and their record of success or otherwise with particular debt solutions) into account. It takes a very skilled debt counselor to completely ignore their own experiences and judge a debtors situation objectively. **End Summary** Topics: debt advice]]> debt solutions]]> debt relief]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing solutions to credit card debt from someone that has been in a debt crisis situation and is now debt free.

Dealing With Debt - You Need to Talk to Someone

Thu, 29 Jan 2009 00:00:00 -0500

There is a (usually) unwarranted shame attached to getting into debt. A lot of people feel so embarrassed about their debt problem that they will do anything to keep it from friends, relations, and even their family. Unfortunately this is not the best idea. Firstly your family need to know about your debt situation because sooner or later it is going to have an impact on them. Also, trying to conceal your debt problem will often result in it getting worse as you take on more debt to try and maintain the illusion that everything is OK. At best, keeping it a secret from your family will usually stop you from taking the tough decisions that you need to resolve your debt problem. Who Should You Talk to About Dealing With Your Debt Problem? At first it doesn't really matter who you talk to, just find someone that you know will be a sympathetic listener and let it all out. If there isn't anyone that you feel comfortable talking to then try an online forum or blog to start with. If you are hiding your situation from your partner/immediate family then you will really have to tackle this soon. **End Summary** Topics: debt advice]]> debt solutions]]> debt relief]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free.

Debt Consolidation Can Help Your Debt Problems, But Make Sure the Payments Are Affordable First

Thu, 29 Jan 2009 00:00:00 -0500

If you have a debt problem then one of the options that you will probably have considered is debt consolidation, where payments to lots of different creditors are replaced by a single (lower) payment for a loan that is big enough to enable you to pay off all of your other creditors. The loan can be either secured or unsecured and can result in a dramatic reduction in your monthly payments. Advantages of Debt Consolidation for Your Debt Problem The main advantage is the reduction in your monthly payment for all of your debts. It is very important to prepare a realistic budget to make sure that your new reduced payments are affordable. Consolidation also makes your total debt situation clearer, i.e. you can't fool yourself about the true total of all your debts. There is an administrative benefit to having only 1 monthly payment instead of lots of little ones, and if you had got to the stage of defaulting on any payments then the resulting letters and calls should stop when you pay off your account using the money from your new loan. **End Summary** Topics: deb consolidation]]> debt advice]]> debt problems]]>]]> About the Author: ]]> If you want more free information then visit my site for more debt advice in the UK . This provides free advice based on my own experience of going from debt crisis to becoming debt free .

Get Help and Clear Your Debt Now

Wed, 28 Jan 2009 00:00:00 -0500

If you're in the middle of (or heading towards ) a debt crisis you need to get help to clear your debt now! If you ignore the problem then in 6 months time you will be no nearer to resolving the situation, and it will probably be a lot worse. There is a strong human instinct to simply try and hide when serious and difficult problems are around. Unfortunately this approach may have worked for our ancestors when confronted with hungry predators of some sort, but it is absolutely the worst thing that you can do with a debt problem.. 4-Step Plan to Get Help and Clear Your Debt. 1. Find a qualified source of free debt advice, either a charity like the Citizens' Advice Bureau or a respected debt management company, and make an appointment to see them . 2. Write down a list of all your debts with outstanding balances. This might be a bit scary, but unless you can see the size of the problem you won't be able to sort it out.. 3. Prepare a detailed and realistic family budget showing all of your income and all of your essential outgoings on a monthly basis. **End Summary** Topics: debt advice]]> debt problems]]> debt help]]> bankruptcy]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing solutions to credit card debt from someone that has been in a debt crisis situation and is now debt free.

Is Free Debt Relief Available?

Wed, 28 Jan 2009 00:00:00 -0500

If you are experiencing overwhelming debt problems it would be sensible if all of the debt relief solutions available to you were free, after all it's not as if you have a lot of spare money. Unfortunately not all debt relief is free. It depends on your situation and the solution that you choose. Debt relief can be categorized into informal (can sometimes be free), debt relief involving qualified supervision (almost never free, but can appear so), and full bankruptcy (never free). The irony is that the debt relief solution that is most suitable for people with extreme financial difficulties (bankruptcy) is the one that is not free. Not only that, it requires you to pay an up-front fee. Informal Debt Relief There are a wide range of companies and charitable organizations offering informal debt relief solutions. These usually involve either persuading the creditors to accept a longer time period for the repayment of their debt (debt management plans) or persuading them to accept a figure that is lower than the debt owed (debt write-off). **End Summary** Topics: debt relief]]> bankruptcy]]> debt problems]]> debt solutions]]> debt advice]]>]]> About the Author: ]]> Neil Robertson writes from personal experience of debt problems. If you want more free information then visit his Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free

Credit Card Debt Problems - Why Do People Have Them

Tue, 27 Jan 2009 00:00:00 -0500

People borrow on credit cards because it is easy, once you have the card you can borrow money without having to fill in a form. There is also the temptation to regard the available balance on your credit card(s) as money that you have available to spend, and not consider the monthly interest costs of using it. Credit cards are so common nowadays that it is extremely unusual to meet someone that doesn't have at least one. If you do meet someone without a credit card it's a bit like meeting someone that doesn't drink - you wonder whether they are a very disciplined person or a recovering addict! Following my own debt problems I was until recently in the latter category. I have now been given a credit card (at a very high rate of interest) and this prompted me to consider why I had got into trouble with credit cards in the past. Could it all happen again?. Credit cards are of course a very useful financial tool if used correctly. They can help smooth over temporary variations in your income or expenditure and are just about essential for staying in many hotels. **End Summary** Topics: credit cards]]> debt problems]]> debt advice]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing solutions to credit card debt from someone that has been in a debt crisis situation and is now debt free.

Credit Counseling and Debt Relief Organizations - Why Use Them?

Tue, 27 Jan 2009 00:00:00 -0500

A lot of people will regard their debt problem as a very private issue that they would much rather deal with on their own. So why is this a bad idea and why should people with debt problems definitely contact a debt relief/credit counseling charity or company to achieve a successful resolution to their debt problem?. Talking is Good. For so many problems from drink or drug addiction to debt it has been proven time and time again that it is very helpful to talk over your problems. This will significantly increase your chances of resolving the issue. This beneficial affect will happen almost irrespective of who you decide to speak to (as long as they are a sympathetic listener) because the process of ordering your thoughts and explaining your situation to another person helps your own thought process. This benefit is increased if the person that you speak to has expertise in you particular issues/problems. What Benefits do Specialist Credit Counselors or Debt Relief Advisors Bring?. You will find a number of benefits from talking to an experienced debt counselor. They will not be surprised by your situation. **End Summary** Topics: credit counselling]]> debt relief]]> debt advice]]> debt solutions]]>]]> About the Author: ]]> If you want more free information then visit my Debt Advice Free blog providing solutions to credit card debt from someone that has been in a debt crisis situation and is now debt free.

Credit Problems - Why Debt Collectors Are Not the Answer

Mon, 26 Jan 2009 00:00:00 -0500

It is my belief that if you have multiple debts problems then speaking to debt collection agents is not the answer to your problems. Some people will no doubt think that this advice is incorrect or irresponsible so I will explain why I say it. If you have reached a debt crisis situation you need a debt solution that:. 1. Pays your creditors what you can afford AFTER paying all your essential bills such as mortgage/rent/food etc.. 2. Allocates the money that you have available fairly between all of you unsecured creditors.. Most agents working in collection do not care about the above points. The sole objective is to persuade (and that's a polite term) you to part with as much money as possible. It is often no concern to them if you or your family go hungry because you've paid money to your creditors. They will also not care if you miss or reduce your mortgage payment for the same reason, pushing you down the road to re-possession/foreclosure.. **End Summary** Topics: credit problems]]> debt collection]]> debt advice]]> debt solutions]]>]]> About the Author: ]]> Neil Robertson writes from personal experience of debt problems. If you want more free information then visit his Debt Advice Free blog providing debt assistance from someone that has been in a debt crisis situation and is now debt free.

Use Fractional Ownership to Save Money!

Fri, 11 Jul 2008 00:00:00 -0400

Can you save money by using fractional ownership? The marketing of fractional ownership has to date focused on a certain type of development, i.e. super-luxury resorts laden with facilities and services at a very high cost. This isn't all it should be about. In many ways it is potentially more beneficial to people that don't have loads of money. In most cases "fractional" ownership has involved taking the timeshare concept and making it 10 times more expensive! However the need for fractional ownership is created (at all levels of income) by folks not wanting to spend so much money on their leisure assets. Even for the wealthy, the cost of a luxury ski lodge in Aspen or the latest super-yacht is going to hurt. So if you are rich you can bring down the cost of owning your luxury yacht or prime Florida real estate. For the rest of us it can be used to bring down the cost of ownership of slightly more mundane items! How Could You Use Fractional Ownership to Save Money? Forget about anything you think you know about fractional ownership and consider the following: A. **End Summary** Topics: fractional ownership. fractionals]]> private residence clubs]]> destination clubs]]> cars]]> yachts]]> boats]]>]]> About the Author: ]]> Neil Robertson owns a fractional ownership website where you can read more great articles on the fractional ownership of real estate , yachts, cars etc. You can also use it as a resource to help find partners for your ideal fractional ownership scheme!

Is Fractional Ownership High Risk?

Fri, 11 Jul 2008 00:00:00 -0400

When we do anything in life we expose ourselves to risks. Walking down the street, driving your car, even staying in bed for the day all have associated risks. Understanding the risks associated with any decision is important because it enables you to make informed choices. Buying Expensive Assets Outright Has its Own Risks When we make any major purchase we expose ourselves to some form of financial risk - we may not be able to afford the upkeep of the asset or a mortgage on it (due to changes in employment etc.), the resale value may be poor, purchasing may have been less cost-effective than renting/leasing etc. But how is the risk equation altered when you decide to buy into a fractional ownership scheme rather than buying an asset outright? Fractional Ownership Risks Firstly, one of the major risks is reduced - you should be less financially stretched because you have bough a part of an asset appropriate to your requirements rather than paying the whole cost. **End Summary** Topics: fractional ownership. fractionals]]> private residence clubs]]> destination clubs]]> cars]]> yachts]]> boats]]>]]> About the Author: ]]> Neil Robertson owns a fractional ownership website where you can read more great articles on the fractional ownership of real estate , yachts, cars etc.

Fractional Ownership - Selling Your Fraction

Thu, 10 Jul 2008 00:00:00 -0400

Fractional ownership is a growing trend, but how do you go about valuing a fraction in an existing scheme for sale? What rules should be in place in a fractional scheme to prevent potentially disruptive new members joining it? The Popularity of Fractional Ownership The recent increase in popularity of fractional ownership is well documented, with a lot of the growth coming from new development schemes fro large developers. With the larger numbers of fractions being bought, it is inevitable that some of them will be re-sold. But having decided to sell your fraction, how do you go about valuing it? Valuation Methods for Fractional Ownership The traditional method for valuing real estate would be to engage an expert realtor (estate agent in the UK) to the job for you. Ideally consult with several to get different opinions (this is usually easy given the number of real estate businesses there are). When valuing a real estate fraction this approach might is more difficult since the re-sale market is still small and the number of businesses working in this area is few (although growing quickly). So how can you value your fraction? **End Summary** Topics: fractional ownership. fractionals]]> private residence clubs]]> destination clubs]]> cars]]> yachts]]> boats]]>]]> About the Author: ]]> Neil Robertson owns a fractional ownership website where you can read more great articles on the fractional ownership of real estate , yachts, cars etc.

Fractional Ownership Beats the Credit Crunch

Thu, 03 Jul 2008 00:00:00 -0400

One area of the real estate market is bucking the generally negative trend, with values and sales volumes up. Fractional ownership of luxury real estate has been slowly gaining in popularity over the last 10 years or so, but now seems set to reach a tipping point and become a mainstream concept. What is the Credit Crunch? In case you've been living in the wilderness for the last year, a short history of the credit crunch! It all started with a relaxation of lending criteria, both with regard to the size of loans compared to income and the credit rating of the borrowers. People who 10 years ago wouldn't have been able to get a mortgage at all were offered large loans with very little proof of income. These loans were then packaged up by "clever" bankers and sold on to financial institutions around the world. This fueled a boom in asset valuations and while this continued everything appeared OK - if people couldn't afford to pay their mortgage interest they simply rolled up the interest into a new loan. **End Summary** Topics: fractional ownership]]> timeshare]]> real estate]]> vacation]]>]]> About the Author: ]]> Neil Robertson is a fractional ownership consultant who runs his own website promoting fractional ownership schemes and giving advice and information on the fractional ownership of real estate , yachts, cars etc.