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Monthly Archives: November 2018

Secured Loans and Options

Where can you get a secured loan? There are several different options available for this kind of loan. Ask friends and family if they have any recommendations of a loan company for you. One of the first options is a loan company that specializes in secured loans. Call around to find one that will loan you money based on an item or items that you might have. You are sure to find one that will help you and your finances.

Another choice for a secured loan is a pawnshop. Pawnshops loan money based on the item or items that you bring them. They usually loan money on anything from movies to jewelry to electronics. This is a great choice if your options are limited. If you do not pay your loan, then the pawnshop keeps your item and resells it.

Car title loans are an option too. You need to keep in mind that if you do not pay the loan, then you will lose your car. This option is only a good one if you are positive that you can pay off the loan in the specified period of time.

Payday advance loans are available through many companies. You usually write the company a post-dated check for your next payday date for the loan amount plus any interest. This loan can be dangerous though if you keep rolling it over every payday. This option should be a last resort.

The key to getting a secured loan is to do your research. Make sure that you understand the interest rate, the length of the loan, and the payment arrangement and amounts completely. If you have questions, do not hesitate to ask. If used correctly, these methods of getting a loan can be a lifesaver. If not used correctly, then you could put yourself into a very bad financial situation that will be nearly impossible to get out of. So make sure that you are able to meet the payment requirements of the loan.

Beware of lenders who promise you the moon. There are unscrupulous lenders who will try to take advantage of consumers who are desperate for a loan. If you get into a situation with one of these lenders, it will be very difficult to completely pay off the loan because of accruing interest and other fees.

If you do your research and choose wisely, then you will have no problems meeting the requirements of your loan. This version of loans should be taken very seriously as you have your own possessions on the line if you do not fulfill your obligations! Secured loans will help you meet your needs!

Secured Personal Loan

There are two ways a borrower goes for a loan–secured and unsecured loan. While in secured loan lender demands security in the form of home, car or valuable papers; in unsecured loan, financial strong position of the borrower matters the most. Clearly, to a borrower of average financial position, secured personal loan becomes the best option.

With secured personal loans you avail the loan by using your own asset as security offered to the lender. Secured personal loan is available immediately and that too at lower interest rate. Moreover, you can have a loan of larger amount if need be so.

Average borrower can benefit immensely from secured personal loan.
Borrower’s first concern is the interest rate. The very fact that he is in urgent need of money reveals his financial and cash in hand position.
When he opts for offering his own property to the lender as security against loan, he is most surely to get loan at a lower interest. The security ensures lender that he will not loose his money in case the borrower fails to return the amount. Hence, interest rate remains lower. But how low will it be, will depend on how much the equity of borrower’s property offered as collateral is.

One advantage with secured personal loan is that one can borrow greater amount. As the lender has the security, it enables borrower to ask for a larger amount ranging £ 3000 to £ 75,000. On the strong base of security as collateral, borrower also has the option of expending repayment on a monthly basis even up to 25 years.

Often a bad credit report of the borrower becomes a barrier in easy availability of loan. But even in such cases secured loan comes to the rescue of the borrower. This is because he has put his home or any other property as collateral. Even with bad credit secured personal loans offer the same advantages and facilities.

Another advantage of having secured personal loan is that borrower has this flexibility of using the loan for many purposes. He has the liberty to use it as personal expenditure, go for home renovation, spend on education or enjoy holiday trip. Also people would go for a secured personal loan for various reasons such as buying car, property, paying for wedding. The loan may even be used for the purpose of debt consolidation so that borrower gets rid of his previous loan payments.

Secured personal loans are very easily accessible as they are offered online. After the loan seeker has searched the right lender all he has to do is to apply for the loan online then and there. Also while searching, he can compare interest rates of different lenders and can choose a rate that suits his budget.

Free Credit Report

At last count, there were more than two hundred registered domain names with names that were similar to the official annualcreditreport.com or which contained the phrase “annual credit report.” Since it is quite easy to misspell a domain name, particularly a long one, many consumers have found themselves at sites other than the one they intended to visit. Most of these other Websites exist for the purpose of selling a credit report, rather than providing them for free, but others are designed to fool the consumer into providing personal information that the site owners may be able to exploit for personal gain. Other sites with similar names merely offer advertising or redirect visitors to porn sites.

What’s to be done? Not much, it would appear. Several of the sites that were created to fool consumers into providing personal information have been taken offline, but others will undoubtedly follow. Any sites that are established outside of the United States are immune to U.S. law, so it may be difficult for authorities to take any action. Consumers who are not overly familiar with the workings of the Internet would be better off contacting the credit bureaus directly by mail or phone. Anyone who uses the Internet to obtain a copy of their credit report should make sure that they are typing the name of the Website accurately. Failure to do so may lead to involuntarily providing vital personal information to people who shouldn’t have it.

Surefire Ways To Repair Bad Credit

  1. Stop using your credit cards immediately. Put them somewhere where they will not tempt you. You may consider keeping at least one card for emergency purposes. Additionally, with poor credit, you may find it more difficult to get a credit card in the future. If you keep at least one account open, then you won’t have to worry about applying.
  2. Be Honest With Yourself. Taking a good hard look at your financial situation, particularly if it isn’t good, can be very difficult. Yet, to get out debt you have to fully understand what the situation is.
  3. Find the Errors. Believe it or not, up to 40% of all credit reports have errors in them. If you find that your credit report shows something that is not true, you need to write to them with all the details. Be sure to use certified mail so that you can keep track of who you wrote to, when you wrote, and who received the mail on the credit bureau’s end. Then ask the credit bureau to send a corrected report to anyone who has requested a report on you in the last 6 months.
  4. Find the Omissions. By law, you are allowed to add information to your report that you believe will help your rating. This might be additional information about a repayment of a loan, good credit you have with companies that do not report to the credit bureau, or salary increases.
  5. You Must Have a Plan. Whether you determine to pay your bills down little at a time, take a second job, go to credit counseling, or file bankruptcy, you need to make a plan and stick to it. In order for your credit to be improved, you have to have a plan and then take action!
  6. Talk to those that you owe. Creditors want their money. They do not want you to default (quit paying). In fact, most creditors will work with you to get a reduced payment schedule. If you can keep them from reporting you to the credit bureau, then it won’t hurt your credit. The catch here is this: be sure to stick to the new negotiated plan – they won’t renegotiate if you fail to comply.
  7. The Best Cure is Time. Have you ever heard the saying ‘time heals all wounds’? It also heals your credit. After 7 years, most items will be dropped. This is good news if you are working to correct your credit. As each year passes, more and more bad items will drop off and more and more good items will be included. Eventually, the disease will be cured.

Fueling the Dream

At first glance, the sticker price of any college might seem expensive, if not exorbitant. However, financial aid wipes away a substantial amount of that price. Thus, it enables college students to earn their degrees. It comes from several sources, such as:

  • The federal government (approximately 73 percent)
  • Colleges and universities (about 18 percent)
  • State governments (about 5 percent)
  • Several private organizations, e.g., companies, religious organizations (around 4 percent) and
  • Banks and financial institutions

Financial aid comprises:

  1. Grants from the federal and state governments: They award grants based on the financial circumstances of the student. The student does not need to repay these.
  2. Scholarships from governments, colleges and private organizations: They provide grants based on the student’s skills and abilities in academics, sports, volunteer work, and so on.
  3. Loans from the federal government (low interest) or private lenders (high interest): Students need to repay these along with the interest component.

To receive financial aid, students must apply via the Free Application for Federal Student Aid (FAFSA). They must submit the FAFSA by January 1 of the year in which they plan to attend college.

Students could also apply for financial aid from the colleges they apply to or other financial institutions. Some institutions require applicants to submit forms such as the CSS/Financial Aid PROFILE. The relevant authorities award financial aid based on the details submitted in the application form.

About Bankruptcy Prevention

When you planning your company your business model the best thing you can have going forward. Business models are the only thing one can do when wanting to succeed in life. Unfortunately, there is no one size fits all business model. Personally, the best business model is the one which lack flexibility.

A business model which lacks flexibility prevents you from making too many decisions too quickly. When you make quick decisions you cause confusion at lose the trust of your market. There is a clever way to avoid losing a market with a simple mentality purchase investments. Purchasing investments are easy but difficult. Bankruptcy prevention can take place if you are willing to part ways the mega salaries.

Bankruptcy prevention will not be easy since there is no real way to execute the plan. However, you can actually take precautions when you build your business. Hiring the right people is the most important step when executing the right moves. One of the main culprits is usually change in consumer behavior no matter how great the company’s business model. As an entrepreneur there are so many challenges they quickly go up and they quickly go down. When you make the right call you can find breathing room.

In conclusion, you want to stay away from bankruptcy but then again so many good things come from bankruptcy. When bankruptcy happens you realize what on the books make have nothing to do with the inevitable. Bankruptcy is the greatest to shape the economy without it we would not be able to move forward. The best thing to in case of bankruptcy is accept and reward yourself. Never build a company on the number of employees but the number of value.

Student Loans in Bankruptcy

A Brief History.

Student loans really did not pop into existence in America until 1958 under the National Defense Education Act. 1. These loans were offered as a way to encourage students to pursue math and science degrees to keep us competitive with the Soviet Union. 2. In 1965, the Guaranteed Student Loan or Stafford Loan program was initiated under the Johnson Administration. Over time, additional loan programs have come into existence. The necessity of loans for students has become greater as the subsidies universities receive have fallen over time. Take Ohio State for example. In 1990, they received 25% of their budget from the state, as of 2012 that percentage had fallen to 7%. In the absence of state money, universities and colleges have increased tuition to cover the reduction in state money.

The Rising Cost of Education.

The cost of higher education adjusted for inflation over time goes something like this, in 1980 the average cost for tuition room and board at a public institution was $7,587.00 in 2014 dollars and by 2015 it had gone up to $18,943.00 in 2014 dollars. The cost of a higher education in 35 years with inflation accounted for has gone up by 2.5 times. Compare this to inflation adjusted housing costs which have remained nearly unchanged, increasing just 19% from 1980 to 2015 when the bubble and housing crisis is removed. 3. Or compare to wages which, except for the top 25%, have not increased over that same time period. Looking at affordability in terms of minimum wage it is clear that loans are more and more necessary for anyone who wants to attend university or college. In 1981, a minimum wage earner could work full time in the summer and make almost enough to cover their annual college costs, leaving a small amount that they could cobble together from grants, loans, or work during the school year. 4. In 2005, a student earning minimum wage would have to work the entire year and devote all of that money to the cost of their education to afford 1 year of a public college or university. 5. Now think about this, there are approximately 40 million people with student loan debt somewhere over the 1.2 trillion dollar mark. According to studentaid.gov, seven million of those borrowers are in default, that is roughly 18%. Default is defined as being 270 days delinquent on your student loan payments. Once in default, the loan balances increase by 25% and are sent to collections. The collections agencies get a commission on collected debt and are often owned by the very entity that originated the loans, i.e. Sallie Mae.

The Building of the Student Debt Prison.

Prior to 1976 student loans were dischargeable in bankruptcy without any constraints. Of course, if you look back at statistics from that time, there wasn’t much student debt to speak of. When the US Bankruptcy Code was enacted in 1978, the ability to discharge student loans was narrowed. Back then, in order to have your loans discharged, you had to be in repayment for 5 years or prove that such a repayment would constitute an undue hardship. The rationale for narrowing the discharge was that it would damage the student loan system as student debtors flocked to bankruptcy to have their debt discharged. The facts, however, did not support this attack. By 1977 only .3% of student loans had been discharged in bankruptcy. 6. Still, the walls continued to close on student debtors. Up until 1984, only private student loans made by a nonprofit institution of higher education were excepted from discharge. 7. Next with the enactment of the Bankruptcy Amendments and Federal Judgeship Act of 1984, private loans from all nonprofit lenders were excepted from discharge. In 1990, the period of repayment before a discharge could be received was lengthened to 7 years. 8. In 1991, the Emergency Unemployment Compensation Act of 1991 allowed the federal government to garnish up to 10% of disposable pay of defaulted borrowers. 9. In 1993, the Higher Education Amendments of 1992 added income contingent repayment which required payments of 20% of discretionary income to be paid towards Direct Loans. 10. After 25 years of repayment the remaining balance was forgiven. In 1996 the Debt Collection Improvement Act of 1996 allowed Social Security benefit payments to be offset to repay defaulted federal education loans. 11. In 1998, the Higher Education Amendments of 1998 struck the provision allowing education loans to be discharged after 7 years in repayment. 12. In 2001, the US Department of Education began offsetting up to 15% of social security disability and retirement benefits to repay defaulted federal education loans. In 2005, “the law change” as we call it in the Bankruptcy field further narrowed the exception to discharge to include most private student loans. Since private student loans were given protection from discharge in bankruptcy there has been no reduction in the cost of those loans. 13. If the rational for excepting student loans from discharge is that the cost to students to obtain loans would soar, this fact would seem to lay waste to that argument.

In the wake of the slow march towards saddling our students with unshakable debt, the government created a couple of ways to deal with government backed student loans outside of bankruptcy. In 2007 the College Cost Reduction and Access Act of 2007 added income based repayment which allows for a smaller repayment than income contingent repayment, 15% of discretionary income and debt forgiveness after 25 years. 14. In 2010, the Health Care and Education Reconciliation Act of 2010 created a new version of income-based repayment cutting the monthly payment to 10% of discretionary income with debt forgiveness after 20 years. 15. This new improved income based repayment plan is only for borrowers who have no loans from before 2008. Further, those with loans in default, will not qualify for income based repayment unless they first rehabilitate those loans. If you are interested in seeing if your loans qualify for income based repayment or income contingent repayment please visit student aid dot gov. Unfortunately, none of these programs do anything to deal with private loans, a growing problem currently at around $200,000,000,000.00 (Two Hundred Billion) or around 16% of the total student loan debt.

Online Loans

Getting loans is easy for Used Cars. All you need to do is to visit the website of the lender and make your application. To increase your chances of getting the loan carefully read through the requirements required and provide them.

The cool thing is that online loans are one of the easiest to get at Auto Village. In fact, when you apply for them, the lender will give you the loan even if you have bad credit. All the lender wants to know is whether you can afford to pay. To prove that you can repay the loan once it’s given to you, you should provide a bank statement or proof of employment.

As mentioned above, many people are going for these loans due to the comfort that they come with. Some of these advantages include:

Ease of access: This is no brainer. As mentioned, you don’t need a stellar credit score to get these loans. As long as you prove that you can afford to repay the loans. You are ready to go. This is unlike with the traditional loan lenders that will require you to have a good score to get the loans.

Also, you don’t have to travel to your bank to get loans. All you need is a computer and internet connection, and if the lender certifies that you can repay the loan, he/she will send you the money to your account instantly.

Payment options: Unlike with traditional loans where the repayment of the loans is decided by the lender, with online loans you agree with the lender on the amount that you will be repaid. In addition to this, in the event you lose a job, you can contact your lender and adjust your repayment.

When you are borrowing the loans, you need to consider a number of factors for you to get the right ones. These factors include:

Amount to borrow: How much money will you be borrowing? The amount allowed differs from one lender to another. You should do your research and find a lender who will give you an amount that you will be comfortable with.

Repayment period: This is the amount of time that you need to repay the loan. Again this differs from one lender to another. The cool thing is that you can reach an agreement with the lender and settle at an amount that both of you are comfortable with.

Interest charged: The loans are known for their high interest, but this doesn’t mean that you have to pay high interests all the time. Before you take a loan, scout for lenders with the best rates.

Deal with Hire Purchase Debt

WHAT IF I CANNOT AFFORD TO PAY?

If you fall behind with your payments on a Hire Purchase or Conditional Sale Agreement, the creditor may be able to repossess the goods. Look at your agreement. There will be a box telling you how much you need to have paid to stop the creditor taking the goods back without a court order. This should be a third of the total amount payable under the agreement.

If you have paid a third or more of the total owing, the creditor must go to court to ask for the goods back. They cannot just come round and remove them. Even if you have not paid more than a third of the agreement, the creditor will need an order from the court to remove the goods from “any premises” they are on.

This appears to include your garage or drive but not a car park or roadside. If your car is parked on the road, or in a public car park, then it would be at risk.

WHAT IS THE PROCEDURE IF THE CREDITOR HAS TO GO TO COURT BEFORE THEY CAN GET THE GOODS BACK?

There is still a chance that you can keep hold of the goods, as the court has the power to agree to this as long as you can pay the debt back in reasonable instalments.

If you have a third or more of the total payable under the agreement, the creditor will ask the court to send you a Claim Form asking for the goods to be returned.

This is called an application for a “Return Order”. Notice of a hearing date with a District Judge is included. This hearing should be in your local County Court.

There will be form with the Claim that you should fill in and send back to the court within 14 days. You must fill this in if you want the court to suspend the Return of Goods Order and allow you to keep the goods at home. You need to offer to pay the debt back in monthly instalments you can afford. It is important to treat this debt as a priority over ordinary credit debts and offer as much as you can.

Send the form back to the court, not the creditor. The court will send a copy of your form to the creditor. If the creditor accepts the offer the hearing will be cancelled. If the creditor does not accept the offer the hearing will go ahead.

You must attend the hearing. The court will decide at the hearing whether they will suspend the Return Order and what monthly instalments you should pay from now on. If you do not fill in the admission form there will be a hearing anyway. If you don’t go to the hearing the court will probably grant the creditor an order telling you to return the goods.

Credit Cards Marketing

MasterCard also will feature its sponsorship of the FIFA World Cup, particularly in reaching out to Hispanic audiences.

Holiday will be an important period for the brand. Debra Coughlin, svp-global North American brandbuilding for MasterCard, said last year’s promotional-driven advertising, which focused on “priceless” gifts that could be won through using the card, worked particularly well.

Visa, not surprisingly, also plans to spend in the fourth quarter. “That’s when there is an inordinate amount of retail spending, so it’s an important time frame for a usage message,” said Liz Silver, Visa svp-advertising and brand management. Back-to-school is another key period.
Visa will keep the longtime “It’s everywhere you want to be” positioning this year. With lots of dollars allocated to its 2002 Olympics sponsorship, much of Visa’s other advertising will focus on its key partnerships with the National Football League, NASCAR, the Triple Crown and Broadway.

Besides general branding and usage ads, Visa will support the check card (a “six degrees of Kevin Bacon” spot currently is running) and its “Verified by Visa” product, an online authentication service for card users making Internet purchases. Visa’s ad spend last year was $251 million, per CMR.
American Express, which spent $154 million in 2001, recently launched an extensive brand campaign with the new tag, “Make life rewarding.” The initial phase includes nine TV spots, some of which highlight the overall brand while others feature specific AmEx services, such as financial planning or travel assistance. AmEx also bowed ads for its new small business network, OPEN, earlier this year.