Improve Your Financial Situation
you are having trouble paying your debts, it is important to
take action sooner rather than later.
Doing nothing leads to much
larger problems in the future, whether it's a bad credit
record or bankruptcy resulting in the loss of assets and even
your home. If you're in financial trouble, then here are some
steps to take to avoid financial ruin in the future.
If you've accumulated a large amount of debt and are having
difficulty paying your bills each month, now is the time to
take action--before the bill collectors start calling.
Review each debt. Make sure that the debt creditors
claim you owe is really what you owe and that the amount is
correct. If you dispute a debt, first contact the creditor
directly to resolve your questions. If you still have
questions about the debt, contact your state or local consumer
protection office or, in cases of serious creditor abuse, your
state Attorney General.
Contact your creditors. Let your creditors know you
are having difficulty making your payments. Tell them why you
are having trouble, perhaps it is because you recently lost
your job or have unexpected medical bills. Try to work out an
acceptable payment schedule with your creditors. Most are
willing to work with you and will appreciate your honesty and
Tip: Most automobile
financing agreements permit your creditor to repossess
your car any time you are in default, with no advance
notice. If your car is repossessed you may have to pay
the full balance due on the loan, as well as towing and
storage costs, to get it back. Do not wait until you are
in default. Try to solve the problem with your creditor
when you realize you will not be able to meet your
payments. It may be better to sell the car yourself and
pay off your debt than to incur the added costs of
Budget your expenses. Create a spending plan that
allows you to reduce your debts. Itemize your necessary
expenses (such as housing and healthcare) and optional
expenses (such as entertainment and vacation travel). Stick to
Try to reduce your expenses. Cut out any
unnecessary spending such as eating out and purchasing
expensive entertainment. Consider taking public transportation
or using a car sharing service rather than owning a car. Clip
coupons, purchase generic products at the supermarket and
avoid impulse purchases. Above all, stop incurring new debt.
Leave your credit cards at home. Pay for all purchases in cash
or use a debit card instead of a credit card.
Pay down and consolidate your debts. Withdrawing
savings from low-interest accounts to settle high-rate loans
or credit card debt usually makes sense. In addition, there
are a number of ways to pay off high-interest loans, such as
credit cards, by getting a refinancing or consolidation loan,
such as a second mortgage.
Tip: Selling off a second
car not only provides cash but also reduces insurance
and other maintenance expenses.
Caution: Be wary of any loan
consolidations or other refinancing that actually
increase interest owed, or require payments of points or
Caution: Second mortgages greatly
increase the risk that you may lose your home.
You can regain financial health if you act responsibly. But
don't wait until bankruptcy court is your only option. If
you're having financial troubles, don't hesitate to call.
Need assistance? Help is just a phone call away at
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or check us out at our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,