Los Angeles, California --- The California Credit Bankers Association (CCBA), in partnership with the existing financial institutions and other debt specialists in the locale had come up with the idea of providing everything that a debtor needs to know in a usual creditor-debtor setting. While a trust must be taken into consideration, there are also some related risks to think of when debtors borrow money from a creditor. Thus, the President of the said association CCBA, Mr. Edwin Carlwedge, has initiated one day orientation on September 19, 2015 held in the CCBA Building located in Melrose Avenue, Los Angeles, California.

“Credits have the same concept which is similar to loans in such a way that a trust is being given to a debtor with the promise to pay the loaned amount in full with interest. For one thing, credit availments from credit card debt specialists are means for one to avail of one’s needs and commodities that would significantly assist them economically and in whatever project that they may be undertaking without having to pay for outright cash,” as stated by Mr. Carlwedge during his Welcome Message on the said event. In its related sense, it was stressed loans are also being provided to borrowers so they may be able to purchase one’s needs and commodities which will also significantly aid them financially. So there, indeed there is a great similarity between the two so it is only but fitting and proper to treat these two elements in the same manner and that is one should be qualified enough to avail for these.

The Importance of Managing Debts

The factors that should be mentioned here should be the debtors’ indicator whether or not a loan should be granted to them or not.

What is debt management? Several bank representatives have concurred that managing debts are the lifeblood of their business. Yet, it should be done systematically and with discipline. Thus, it is only but fitting and proper to assess potential borrowers and debtors on the following:
* Capacity. Is he financially viable to pay his monthly dues on time? Does his net take home pay enough to pay for his loan repayments and at the same time be sufficient enough for his provisions?
* Character. He may have the capacity to pay but it would be a problem is he is not willing to pay. One must assess the borrowers well enough so as to determine that they are in a right credit conduct to be granted of loan. In fact, certain California debt consolidation may be made possible through character assessment.
* Condition. Sure, he may have the capacity to pay or even is willing to pay, but there may be times that his present condition may hinder him from paying his monthly obligations. Conditions such as sickness, natural calamities or even accidents may impede the borrower from paying on time.

The program has been ended by the City Mayor’s speech on how managing debts would help every Californians be able to achieve better credit scores and rating despite the existence of such debts.

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