The 5 Financial tips for the first week of December 2012 are given below:

If a debt collector is breaking FDCPA laws and harassing you regarding an account, you need to contact a consumer attorney soon. He can guide you to file a lawsuit against the collector. On the other hand, if you’re facing foreclosure, then you need to contact an attorney who is well aware of the mortgage laws. In case, you want to file bankruptcy, then do consult an attorney who has handled bankruptcy cases in the past. The bottom-line is you need to choose an attorney as per your situation. A divorce attorney can’t help you to deal with bankruptcy case and vice versa.

You can save nature and money by going green in this Christmas. Each year you spend lots of money on sending invitation cards to your guests for the Christmas party. Most of these cards end up landing into the trash can. Send eCards to your friends on this Christmas. You can send these cards without spending a dime. You'll also save paper in the process.

Arrange a potluck party in this Christmas. It will help you save fuel, food and money. You can also reduce the usage of plastic containers in this way.

If you're finding it difficult to make payments on an adjustable rate mortgage, then opt for mortgage modification. The lender will change the terms and conditions of the loan as per your financial situation. This will help to make the payments affordable. You can avoid getting delinquent on the loan. This will help you protect your credit score.

You can't qualify for mortgage modification just like that. You'll have to send a hardship letter to your lender. You need to reveal the various aspects of your financial health to your lender. Unless, your lender is convinced that you really can't make the payments, you’re less likely to qualify for mortgage modification.

Proper planning can help your business survive in the financial industry. Write a business plan from the viewpoint of an audience. Make sure you write a plan after conducting a thorough analysis of the market. Include business costs and marketing strategies in the plan. If the business expenses are more than profits, then you would never be a successful entrepreneur. Don't follow one business plan throughout the year. Review it and make necessary changes whenever it is required. A static and outdated business plan will never help your business climb up the ladder and be the best in the industry.

A mortgage calculator helps you determine the amount that can be borrowed from a lender. The calculator takes into account your income, expenses, debt-to-income ratio, desired loan amount, interest rates, fees, etc. It lets you know about the monthly mortgage payment amount. Once you get the figure, it becomes easier for you to comprehend if you can afford to take out the loan. You can re-plan your budget in order to come up with the monthly payment amount. This will help you avoid defaulting on mortgage loan and losing your property.