Tag uae bank creditors

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First, Let It Sink In….

• Take a few Steps backwards and Reflect – If it means distantiating yourself from the reality for a day or two, then just do it!
• Don’t allow yourself to slide into Emotional Turmoil – Avoid saturating your being with Emotional Fear, because what you fear, you focus on and unfortunately it grows beyond measure and will eventually consume you whether it’s good or bad, so take heed.
• Start a regimental Routine of Daily Gratitude – OK, so you think it won’t change the situation? Actually it will and it will change you too, especially the perception of the dire situation that jumped into your mind, when you were made redundant, correct?
• Keep Calm – Learn to master the Art of Meditation to release any resistance that can pile up in your being and that will start building walls that you don’t need right now!
• Focus and gain Clarity – Don’t allow anything or anyone to destroy your peace at any given time during this process.
• How do you recreate your life? – I will tell you, with your Thoughts, Words and Actions, so start being very aware of this, as it has the most powerful outcomes and can be devastating when you find yourself in a dark hole.
• Activate your Plan – Review your current financial situation, your current liabilities and how you can downsize your current lifestyle to accommodate the next 6months of expenses that must be met.
• Opinions are irrelevant – Forget about the people and what they will say, as you are the only one who pays your bills, don’t ever forget that!
• Approach your Creditors – As early as possible and try to negotiate to reduce your monthly payments at least for the next 12months, affording you the opportunity to not only maintain your payments, but also to stay in a ‘Safe Zone’.
• Do your calculations carefully – If you must, then consult with expert Debt Remedial Specialists, who will tender the best experienced advice and it could save you years of aches and pains, as they do this work daily, so they can project the possibilities for your situation.
• Now focus on your Resume – Check if it is updated, check your Social Media Profiles and commit to the time to apply the relevant amendments, so you remain marketable and can confidently apply for new opportunities. During this time you tend to forget about all of your experience, what value you can contribute, because you are only focused on the very bad reality, which, if you change your attitude, it can change in less than 24 hours, but as humans, we never have the ability to comprehend this very important aspect of the Law of Life.
• Once you are ready – Earmark the companies you are interested to join and start approaching them, calling, sending your resume and don’t give up!
• Review your Options – If you want to venture into a new business and you not only have the experience and acumen, but saved investment funding, then realize maybe one door closed so that the other can open and you can actualize your future dreams! You don’t know that until you try and risks are a part of building our dreams!
• Convene a Family Meeting – It is important that all immediate family or your household understands what the current situation is, so that you secure everyone’s undue support and continued love and encouragement. During these times, the support factor is key, because if you are alone it can be tough, but then the only band aid to apply is continuous emergence into self-love, because don’t imagine you will get it from anyone else, because most of the time, when the bucket falls out, you stand alone, so inner strength and faith is key, no matter who you are…
• Gratitude…Gratitude…Gratitude...Is going to be the Golden Key to change your world, don’t believe me, try it for yourself, it’s how I live my life. Start a new routine of Daily Gratitude, get a Journal, write down what you are Grateful for and what you want, hold that vision and believe in what you desire, because when you do, it will have no option but to show up for you!
• Mastery – When you can Master all key components of your life, you have won the battles, sometimes before they begin and find yourself years ahead of anyone else, if you follow these steps.

The Change we seek in our lives, we can find from within ourselves, playing the ‘blaming game’ until our souls and spirits are dead, is the wrong move and will consume you before you even know it! Blame yourself for not accumulating the much reminded of ‘nest egg’ for the inevitable, because we never assume it will happen to us. So taking ownership and responsibility is the first step, embracing that and then moving forward with a new vision, is what will transform you and your situation.

People facing any critical situation, not necessarily debt, it could be the sudden loss of a loved one, a terminal illness, any form of what we consider as ‘Bad News’, the key is not to focus on it, direct your future vision to a more positive path and go with the flow. Nobody said don’t grieve for any loved one who passed, or for a bad situation you find yourself in, because grieving is an essential part of healing, so give yourself the time to heal, because nothing great, spectacular or authentic was derived from any form of negative space.

People ask, ‘How do you get?’ and the sure answer is ‘By Giving more Value than you get, not necessarily monetary’…that is the only Secret…

Many Debtors need to transform their mindset, because they find themselves facing a dire Debt-Crisis, with no visible hope, so their Debt Recovery need has a very high severity, but their mindset is in ‘Trading Mode’, because they cannot equate the invisible Professional Service to not receiving any visible tangible Value when they are informed about required to pay Professional Service Fees.

Your situation is in a lack, so you need to understand that your mindset is similarly aligned and although the issue of Debtors facing this problem could imply that they really do not have the funds to meet the Service Fees, most of the time they are able to contribute partially, but it is the unwillingness not to concede to co-operate, where it is common practice for their response to be that we should first complete the service and then they will meet the Service Fee payment.

Our response will always be that we are not a ‘shop on the corner’, but are driven to save lives and put them onto their path of Debt Recovery, where our business has solely depended on referrals from existing Clients, else, we would not exist.

Very key however, is the Lesson of Debt, which dictates that as the Debtor, these are the sacrifices to be made to ensure you learn hard lessons for the future, because anything for free, teaches you nothing and simplifies it for you to repeat the same mistake multiple times in the future, as you have not appreciated the value attached to the rendered service. But anything you pay for, you will never forget and here lies the Lesson.

Many times, Debtors decline to pay Service Fees, they saunter off to attempt the process themselves, finally come into contact with someone who promises to complete the Remedial Task, at perceived lower fee pricing, but they end up paying more with zero outcome and finally, find themselves back at EFFRS’s door. Then, the lesson is harsher and you can save yourself so much disaster by identifying the right decisions to make from inception. The longer you wait, the more dire the debt situation becomes, as the penalties do not stop, it continues to accrue, placing you in a more dire situation.

That is why the most famous question we ask is how much you value your life, because there is no price we can equate to our existence, well-being and Debt-Recovery, also living with peace of mind and no emotional fear, which is ultimately important. Without making the right decision, you could eliminate years from your lifespan, you just don’t know that daily you are piling up all forms of negative emotions, with no release valve, which finally results in illness or unwellness over time.

Key is also when facing a Debt-Crisis, you are focussing on this negative situation and the lack, where it will eventually grow and consume you, so the bigger lesson is to activate positive processes to eliminate the lack mindset, where approving to pay your Professional Service Fees, is a part of this process, where this helps you to start creating an abundance mindset that does not restrict your progress and Debt-Recovery.

These are all key lessons to share, because if you are unaware of these methods then you cannot progress or achieve again. It is never about the money, but the value that is created, which then elevates you to a new positive state of mind, that will serve you forever, once you get to master this art of deliberate creation.

The past 3 months has been a sobering experience, not only to have seen so many change controls being enforced for the safety of everyone, but also that people actually conformed to those Regulations, in spite of the uncertainty and also knowing that the outcome could have a dire impact on their income for those employed and revenue stream, for the self-employed, affecting their livelihood and those of their families.

Not to mention large Organizations where initially everyone had to adopt the ‘Work from Home’ Policy at short notice, where this one key unexpected change hit home for everyone, but it made us flip into survival mode indicating that as humans we have that inbred adaptable instinct that we really are susceptible to quick changes, that we all possess immense inner strength to adapt at short notice and that instinctively, we knew how to apply our coping methods, flexibility, collaboration and team effort capabilities, it’s like we all simply transitioned on ‘Auto’, which an amazing feat to witness.

We simply made it work, adjusted in an instance, emerged ourselves into the latest trends of communication, online video conferencing, team projects and respective assigned roles, responsibilities and tasks, online weekly team meetings, online client meetings and many more to ensure a seamless process to complete our tasks and achieve our goals and objectives, which was fantastically amazing to witness!

I don’t think anyone stopped to review…

• What just happened?
• How did we just co-ordinate so fast with the ability to reel in teams to facilitate seamless productivity and performance?
• How did we suddenly become so disciplined working from home?
• How did we suddenly embrace independent responsibility?
• How did we suddenly show more commitment than when we were working from the office?
• Where did we acquire the drive and determination to keep the wheels turning?
• How did we suddenly become so resourceful, supportive, innovative, creative and all those traits we wished we had, when we were seated in our old comfort zones at the office?
• Most of all we then embraced the new normal!

This was all human intervention at its best, but on the flip-side we have also witnessed those who lost their jobs, placed on unpaid leave, had salary reductions applied and again, we witnessed comradeship and support of those more fortunate, successful collaborating to ensure that food parcels were available for those suffering shortages, moral support was extended, free advice, borrowing of items needed for those who could not afford to purchase new, employment groups created where the newly unemployed could upload their resume’s and be afforded the opportunity to secure a new job, as I have seen Human Resource Managers and the likes all join in on social media groups to continue the support and the list continues…

So where does that leave those who have Bank and other liabilities, who either are directly affected at this time due to salary reductions or unpaid leave and then those who have been afforded time and who accepted a termination in a few months, as there are all forms of situations people are facing right now, that could inflict mental health issues and other emotional states of mind.

Before you get yourself into a knot, create your Debt Schedule with the most accurate up to date commercials, review your EMI’s at this stage and what the most suitable reduced EMI’s should be, to enable you to maintain your payment plans, with ease, until you are able to recover completely, by either waiting to return to work, or securing a new job with a higher or the same salary you were earning before. But the point is, get planning, create self-awareness and be prepared, don’t wait for the last minute, because by then you would have piled up so much anxiety, pressure and resistance, that whatever you try to do, will not work, because of your emotional state of mind.

Everyone knows that this pandemic has direly affected Business Operations and so there is a large degree of empathy and compassion, where new Regulations was announced i.e.

• a. EMI deferments for your Bank liabilities from specific banking groups – Could be 2 or 3months, so if you are regular, approach your Creditor and request consideration to approve your request, you won’t know if you don’t ask, so don’t hesitate.

• b. New Settlement Plans or Restructures with a reduced EMI – So you can maintain a satisfactory DBR, preferably not more than 50% of your newly reduced salary or even less, if you are on unpaid leave or similar. Remember, you are not refusing to repay your debt, you are only requiring a concession to help you cope and maintain your payments, whilst still being able to sustain yourself and your family.

• c. Preparation of all your legal documentation required – Before you present your request to your Creditor, i.e. Termination Letter/Salary Reduction Letter/Unpaid Leave Letter, copy of your Passport, Emirates ID and Visa, preferably also a 3m Bank statement of your salary account – keep those on hand when you meet with your Bank Creditor, as you will need them.

• e. Know your Financial Status accurately – There is no room for mistakes when you meet with your Creditor, as they are more experienced than what you are, so they may pose surprising questions, request out of the norm documentation to verify your request, as they have Due Diligence to apply to authenticate your situation and verify your story. So be mentally prepared when you meet with them, have everything on hand and project confidence and positivity, see your request approved and that’s the only work you need to do, because what you put in, you get out, simple logic!

Right now, eliminate any negative mindset you may have because of this ongoing situation, as you must gain clarity to know what you want and take action to secure and achieve, because we still have a long way to go, without having to instill fear from within. So, you need to operate with complete confidence, clarity and positivity to maintain the positive wheels turning for you and create a ricochet, that will be passed onto everyone who comes into contact with you.

Most of all, extend as much kindness, care, support and empathy as to can to your fellow human being, act with humility and serve well, so you can continue to create value in your space, which will have a huge positive impact on your life and progress. There is no time like right now to impose your good will and humanity to everyone who comes into contact with you, because there is no room for any form of negativity, being mean, unkind, hurtful and not supporting others, because we don’t know how the wheels can change for us, if we insist on planting bad seed.

When you are facing a Debt-Crisis, your constant focus is on the situation, so when you are rather opting to focus on this, you are feeding it, so it grows, until it consumes you and is totally out of control.

In the interim, in all this mayhem, you forgot to take a few steps back, review the situation and ask yourself “How much am I really worth? Is it not worth it to invest in myself, my own well-being and Debt-Recovery?

OR; do you just ignore the situation and proceed with your normal bad habits that resulted in you facing a Debt-Crisis, or simply just live past, because now you are holding whatever money you have to yourself and therefore unknowingly creating ‘Limiting Beliefs’. So guess what? Whatever you are holding in your hand, is all it will ever amount to, nothing more and then you wonder:

a. Why is this happening to me?

b. Why am I stuck?

c. Why is everything coming onto my head at the same time?

Next, anxiety, depression, emotional fear, no zest for life, wanting to throw in the towel and all these negative emotions start consuming your entire being.

But the irony is, you would much rather go off on a weekend and spend more money you don’t have, or do a desperate bout of shopping because it’s your habit and continue spending money that you don’t have…

Remember…..That’s how you became reckless with money in the first place, even taking loans and credit cards, mean’t you had so much money to spend that you had not earned yet, that was not even your own hard earned money and realism is, you must repay the money, refuting ownership and responsibility to show that willingness to your creditors, blaming them for high interest, penalties applied, etc…when you signed the original application with the knowledge that it must be repaid, as per the creditors policies, now appears to be a lame excuse. You are refuting to take responsibility, which in turns means you’re sowing bad seed, so you can only reap bad and debt does not distinguish between anyone, it takes you when it wants you, most times, to teach you a lesson.

A new page means making a concerted decision to invest in yourself, your own well-being, by consulting with your creditor or a reputable remedial company who can fully support you. This is for sure not money lost, if you know whom you are dealing with. However, we are not prone to investing in ourselves, especially if the ‘goods you are purchasing’, which in this instance is a service, so it is perceived to be intangible. Relealize not everyone is operating like a shop on the corner, many are creating huge value by collaboration, rendering sterling services and supporting to transform lives and put people onto a Debt Recovery Path.

My personal experience is that people need to learn to be Grateful, say Thanks when it is necessary and stop beating the old stories that will continue to suppress them, time to turn a new leave, grab that new life that is waiting for you and walk away from the past, but do the right thing!

Gratitude, Appreciation and Thanks will transform your life without you even realizing it! You cannot create new with old, period!

There are thousands of you still lurking in the shadows, fighting your debt-crisis silently, hoping for a miracle, because I know you have tried all ways with no positive outcome, but today is where I redirect your focus, on how you arrived at this crisis and how to transform your life. The steps I am sharing will form the sound foundation you need to emotionally prepare yourself, to face your debt-crisis. There is absolutely no way when you are engulfed in emotional fear, with zero clarity or focus, including being insecure and unstable, that you can make informed decisions to act.

This advice is not ‘a pie in the sky’, or a ‘delusion of grandeur’, but the true facts, which are, creation of realities, i.e. you are responsible for your situation, because simply, you created it!

a. “How did I get into this situation so fast, without even noticing?

b. How did my business just spiral, why was I not focusing and wasting time and not noticing that I had not set an intention to achieve anything, I was just spending money unconsciously, probably assuming there was a ‘bottomless pit’?

c. Why did I not see any ‘red flags’?

d. Why can I not account for most of this expenditure in detail?

Because, when money flows, we lose our mind, we never stop to ‘maintain records, or even think about a rainy day and as fast as that money flows into your life, if you don’t respect it, you will lose it and it doesn’t matter if it’s thousands, hundreds of thousands or millions.

I know this, because it happened to me, except, I was spending my own millions, not someone else’s, but I also never focused on the fact that my money flow was not a bottomless pit, I was too concerned to meet the needs of Tom, Dick and Harry, until my flow was depleted, where the shock was, they were all nowhere to be found once my pit was dry!

We are human, we make mistakes, so beating yourselves up about it, will ensure you continue to regress, the doors will continue to remain close, nothing will move and the tunnel will seem long and dark with no hope, because that is what you are creating, just like you created your debt, or lost your money – Blame yourself, take responsibility and once you have clarity, set your intention and take the much needed action to save yourself and your life.

Many will say talking is easy, yes, it is, but put action into your words and thoughts and keep them positive, because you need to do nothing else but change your thoughts to change your world. Nothing remains dark forever, so unless you make that move to step out and take action, nothing will change, you will simply revolve around in circles, with no progress, worsening your situation.

When you don’t have a plan, you are lost, because then it means you have no direction, therefore no forthcoming solution and it’s a sad day when just around the corner, you could have saved yourself.

When you are down and out, learn to saturate yourself with books pertaining to achieving wealth, abundance, prosperity and new success in your life, forget about beating the old drums of how you got to your debt-crisis, because it’s gone, you must learn to move forward and put the old behind you.

I never stop emerging myself in improving my own knowledge and experience and just this weekend I picked up my favourite “Think And Grow Rich” by Napoleon Hill and it’s a book you should keep pushing yourself daily, because if you master the teachings in that book, you will master achieving tremendous wealth and transforming your life. So instead of prancing to the mall and spending money you don’t have on goods you don’t need, invest in this book, because it is a lifetime investment.

Let me share some significant points with you. There are six ways to turn desire into Gold, so follow those steps daily, no matter how depressed, suppressed and repressed you feel. Some powerful affirmations he shares in this book, that should resonate with those of you who live with huge hope, who know that you can transform your life, but maybe you don’t know how, so here they are:

“Every person who wins in any undertaking, must be willing to burn he’s ships and cut all sources of retreat…”

“You may as well know, right here, that you can never have riches in great quantities, unless you can work yourself into white heat of desire for money, and actually believe you will possess it…”

“When you begin to think and grow rich, you will observe that riches begin with a state of mind, with definiteness of purpose, with little or no hard work…”

“Before success comes in any man’s life, he is sure to meet with much temporary defeat…”

“I will never stop, because men say no…”

So, really, things are thoughts and powerful things at that, when they are mixed with a definiteness of purpose, persistence and a burning desire for their translation into riches. Which means that it doesn’t matter where you are right now with your debt-crisis, you can change your situation by changing your thoughts and the help you need will flow to you. This is not a fallacy, it is how the universe revolves for us humans who can connect at that level and somehow many of you remain clouded. I speak to many daily, but they are bent on rattling off their old story and beating their old drums, when they don’t realize, if they just stopped for 5minutes and listened to themselves, and remembered how many people they rattled that same story to, how may people stopped taking their calls or responding to their pleas for help, because most people will listen to your story, but they can’t get involved as they have their own lives and responsibilities.

The job is yours and only yours and nobody can do it for you and I am here to convince you, that your problem is miniscule versus the power you can acquire to be happy and at peace again. Just listen to yourself when you want to start on a rampage or rattle on about your problems and tell yourself, ‘nobody is really listening or want to help, because they have their problems’, I need to find the right solution for myself and start your daily practices, google, read up about transformation and start your new journey, because it’s that simple…

 

You can’t sway like the wind, first being co-operative and then not, because that same tide you’re creating, is negatively inflicting the lives of debtors who are really needing your help. If you want to see real change, then you must collectively start making a real concerted effort to realize that change, because recreating change with old habits is a door stopper!

So, here are a few real changes you need to revisit and apply:

1. If a debtor has presented their entire financial exposure, where they qualify for consolidation and/or restructure, but they’ve told you that right now they can’t meet the full overdues or high pending EMI’s, then I am sure you can make allowances to approve for them to pay a realistic partial overdue EMI and apply remedial to the remaining. Why is it necessary to apply victimizing actions and attitudes, including ego in most instances, just because you can? You don’t think that if you can recoup your organizations assets over a period, that you may just be able to see an improvement that would ensure you of some form of future stability? Or don’t you care? Don’t you assume that one day you could arrive at your office to find out that it is no more?

2. If the debtor has visited your office, met with you, is willing and able by presented commercial statements to meet he’s liabilities and you have done your due diligence and considering remedial, then on the flipside, why is it necessary for your team to continue calling the customer 58times in 20minutes most days?

3. In addition, to bounce their guarantee cheques and file legal action, whilst the case is submitted for review and approval by your management? Why are your systems not updated with this activity whilst the customer is awaiting your feedback? There is no consistency or handover from one months allocation to the next, regardless if you profess that all interactions with customers are recorded, it’s clear the ones where the customer requested help is not, because a remedial request can be pending from 6m to 1year, simply because how many really take an interest except to secure their target, then the same cycle continues with the next collector allocation.

4. Why once the legal action is completed, do you not follow your legal procedures, but instead harass the customer at their workplace, knowing that if your team specifically request to meet with your customer’s HR Manager, that they could be terminated? Am I correct in assuming that you don’t care and that it is irrelevant to you that the customer can lose their employment? So, if you have a good many customers in 1 month that you apply these measures to, how long could you hold onto your job? To be frank I have escalated such instances to senior management with no action or outcome.

5. Why is it that in many cases escalation to senior management is ignored and never actioned? I hear the excuse of being too busy, well, I don’t accept it, not when you are in a position of strength to make a difference and save a life and however much my sentiments have no significance to you because you have no empathy or compassion, then it’s time to do the full circle of the job assigned to you, because it’s not just about targets, or allowing internal power struggles and politics to affect key decisions made for debtors accounts, simply because you don’t like dealing with the remedial company requesting such reviews. We are not here to like anyone, but to build sound relationships to try to restore human faith and lives so everyone can recover, so it’s never personal, neither is what I am writing today.

These examples are not referencing debtors who are intentionally under-handed, rather the sincere debtor who has not only sought your help and was refused, but proceeded to seek alternative help from a remedial company who can review their entire exposure with the sole aim of reducing their DBR in line with their current monthly income, enabling them to service their EMI’s and not default.

I am saturated about customer’s having to hear from creditors as to why they are seeking the help of remedial companies, so let me inform you, here’s why, because if you did your job correctly in the first place, the customers would not have to seek alternative solutions and support out of sheer desperation.

Therefore, remedial is a full circle, it does not only pertain to the norm of consolidations, restructures or buy-outs, but also to the human factor of coping with psychological debt emotional fear, depression, anxiety, anger and also credit mentorship, because they get to understand how to transform themselves, hence, changing their situations where they learn how to emerge from their dark hole and recreate themselves and take ownership and responsibility of their lives in a full circle. It’s a serious issue, where it does not matter if a debtor opts to remain here or skip, even in the latter instance it can also be soul destroying if the debtor has a conscience and I know many have, so the choice some creditors had in the past should be a lesson today, rather to fully support until the debtors situation improves and realize that time is the healer of restoration, the debt was not accumulated overnight, so how come you want an overnight solution right now, when it is impossible?

When people are at your mercy, regardless of whether you assume that the situation was self-inflicted, the fact is that it won’t serve you to continue beating the old drums, rather your job is to save the moment, whilst saving your organization and yourself, because nothing else matters, except that the debtor is willing to repay he’s debt.

I find it very hard to consume when a debtor is offering to pay a partial EMI, where there is no legal action, just he knows that he is expecting income soon, but right now, he is willing to pay what he has in he’s hand, then the creditor refuses, in some cases, the collector will even demand that the creditor ‘go and lend it from someone!’. Really? So that you can achieve your target? The other big issue is demanding and EMI with a promise that once it is paid, the restructure will be processed, where once paid the debtor finds the account is then allocated to a new collector and history starts repeating itself and finally, the debtor faces legal action due to accumulated EMI balances.

When will we learn as human beings that being happy and in peace, also helping others to create that same equilibrium, will serve us all and that we are all on this one planet, supposedly to help each other, but some of us have cocooned ourselves in special aura of ego, that seems to be impenetrable, where those around us are already well trained not to cross that line. Realize that you’re not in an ego cocoon, just a delusional bubble that will burst in its time, then you will stand alone, unable to help yourself, because that’s the law of life.