How interest works for you or against you. - Nexum Group Inc | Florida Collection Agency

How interest works for you or against you.

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How interest works for you or against you.

I know you already know what interest is, but maybe this article can clarify some things and you can use interest to your benefit.

 

Fixed Interest & Variable Interest

Fixed interest is an interest that does not change based on the market. If you are buying a house and it is a fixed rate, your payment will not change if the market rate goes up. On the contrary Variable Interest is interest that can change based on the market. In my opinion, most people trying to sell you a loan would mention fixed rate and do not mention variable rate. Why would you? “Hey your interest could go up in the next couple years with this loan” or “Hey this is what you are going to pay in interest for your loan.”

The best interest when paying off a loan is no interest of course. If you are buying a house though it is something to pay attention too.

 

Compound Interest

Almost any attention span can handle this one-minute video below. No, I did not make it credit goes to One Minute Economics.

 

https://youtu.be/jTW777ENc3c

 

This is a very simple thing to learn yet many do not practice. You are going to lose money and make money in investing, but the fact that you are doing it and learning will put you ahead of the game. Any losses taken are simply lessons about what moves to make and when to make them. If you consistently put a small amount away into the right areas, it turns into a big amount; that simple.

 

  • Trading account (TDAMERITRADE, ROBINHOOD) – Risky but if you do your research you can come out on top
  • 401K OR INDEX FUND – If you look at the market over the past 18 years it has tripled. Setting an auto deposit into one of these will have you compounding interest in no time.

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This agreement is made between Nexum Group and You herein referred to as client.

  1. Client warrants the authenticity of all claims placed with Nexum Group for collections. Client agrees to forward supporting documentation for each claim to prove the validity of the debt upon request.
  2. Nexum Group agrees to use its best efforts to collect on any and all claims submitted.
  3. Claims placed with Nexum Group by CLIENT shall be charged the below contingencies.

Any claim under (1) year over $1,000 shall be charged a contingency of 30%. Any claim over (1) year over $1,000 shall be charged a contingency of 35%. Any claim that is under $1,000 or requires litigation shall be charged a contingency of 40%. Nexum Group is owed its respected fee regardless if the debtor pays the CLIENT directly or Nexum Group.

  1. Client shall report all direct payments made within (4) days of receipt of payment. It is agreed that commissions due on direct payments shall be remitted to Nexum Group within (14) days.
  2. Any merchandise returned to CLIENT by debtor will entitle Nexum Group to a 10% contingency of the invoiced amount.
  3. CLIENT agrees that Nexum Group can forward a case to an outside law firm to assist in the recovery to assist in the recovery and grands permission to do so at their discretion. CLIENT must give the approval to transfer the case if the transfer results in additional charges
  4. Any claim placed by CLIENT that is found to be placed in error or previously paid will be bill by Nexum Group at a rate of 10% of the amount.
  5. Nexum Group shall account to client all payments collected monthly and provide portal access to track payments online. CLIENT will be provided a statement enclosed with each payment made by Nexum Group. Anything collected before the end of each month will be remitted at the end of the following month.
  6. CLIENT may recall a claim forward to Nexum Group if the claim is not in legal status or there has been no recovery on the account within 90 days. Any cancellations must be expressed in writing via email to corporate@nexumgroupinc.com. Upon cancellation, all fees owed to Nexum Group shall be paid in full. Claims withdrawn after payments have been received or intended to be received CLIENT shall be charged the full contingency for balance submitted. 
  7. This agreement shall is governed by the laws in the state of Florida. In the event, any provision is found to be invalid or unenforceable, that provision shall be deemed removed and remaining provisions shall remain in full effect.


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