Info NEX Finance

Finance is not merely about making money. It's about achieving our deep goals

Month: December 2018

Loans For Unemployed

Your bills are continuously gyrating while some money requirement could be just waiting to knock on your door. It is a cluttered situation. Be realistic in estimating your job prospects and whether you are looking for a few months solution or a year solution. It will enable you to make a logical application for your unemployment loan. Loans for the unemployed are not that frequently laid down on a platter. Every loan eventually boils down to the question of repayment. Usually loans lenders take job as the criteria of your ability to repay loan without default. However, unemployed with substantial assets would find it fairly superior chance to qualify for loans for unemployed.

Loan lenders will make an offer to an unemployed loans borrower and won’t even press for documentation if the borrower makes a sizeable down payment. This down payment is usually 25% or more. A home equity line of credit can provide financial guarantee for the unemployed. There is two way to draw on the equity of your home. You can get a home equity loan which is a lump sum and paid back in some specified time.

Or an unemployed can take a home equity line of …

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Student Debt Relief Companies

The Problem

There are a number of companies out there that will help you figure out a way to pay off your student loan debt, defer your payments, and make other arrangements with student loan companies for a price. Often, that price is very high, and you may find that you are paying through the nose just to get those student loan collectors off of your back – but it may all seem worth it in the beginning.

Here’s why it’s not worth it at all:

  • Most of the time, you can make the same arrangements on your own.
  • All of the things that these companies can do can be done by yourself.
  • These companies will make it sound like they have a magic answer to your problems – but they don’t.

Essentially, you will be spending a lot of money to fix a problem that you can fix for free. How? All you really have to do is pick up the phone and make an arrangement – unless you have already defaulted. Once you have defaulted, it becomes a bit trickier to figure out how to get out of student loan debt, but if you have no defaulted, you …

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Credit Misconceptions

  1. Your score will drop if you check your credit – Fortunately, this one is definitely not true.Checking your own report and score is counted as a “soft inquiry” and doesn’t harm your credit at all. Only “hard inquiries” from a lender or creditor, made when you apply for credit, can bring your credit score down a few points. Worried about damaging your credit while shopping around for a loan? Multiple inquiries for the same purpose within a short amount of time (a few weeks) are grouped together into a less damaging period of inquiry.
  2. Closing old accounts will improve your credit score – To close or not to close, that is the question. Many people advocate closing old and inactive accounts as a way for improving your credit. In most cases, closing accounts will actually have the opposite effect. Canceling old credit accounts can lower your credit score by making your credit history appear shorter. Think twice before closing the oldest account on your credit report. If you want to reduce your levels of available credit, ask for your credit limits to be reduced or close newer accounts instead.
  3. Once you pay off a negative record, it is removed from
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Upside Down on Car Loan

Financial difficulty often arises from auto financing. The happy car buyer drives their new vehicle off the lot financed nearly 100%. As the saying goes, almost immediately thereafter, the new vehicle depreciates in value several thousand dollars before it is even hits the highway.

Automobile transportation costs $4,000.00 to $6,000.00 annually including auto loan payments, liability and collision insurance, repairs and maintenance and gasoline.

Havoc begins when an unexpected car repair not covered by warranty, or a motor vehicle accident, unexpectedly and substantially decreases the value of the vehicle far below the outstanding loan balance owed to the bank. Or, perhaps more harmlessly, on a trade- in for a new vehicle where eager car salespersons and lenders agree to take in your old vehicle on trade, and throw the remaining outstanding balance from your old car loan (for a little higher payment) on the back-end of your new auto loan leaving the new car buyer considerably ‘upside-down’ on the new vehicle purchase.

These situations leave the borrower in a predicament where sizable portions of income are devoted towards covering an unsecured auto debt obligation that is of no use towards sustaining modest costs of necessities for family living.

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Strategic Educational Funding

Custodial Accounts

Another way to consider paying for college is through a Custodial Account (UTMA/UGMA). This account is similar to an individual investment account but gifts made to it are held in trust until the child reaches the age of trust determination (age 18 or 21 depending on the type of account and state in which it is held). There are several drawbacks associated with this type of account. The assets in a custodial account are considered as the students’ and may count against them if they apply for college financial aid. Investment income generated by the custodial account must be reported on the child’s tax return and is taxed at the parents’ rate. And finally, it’s most important to consider that the funds in a custodial account are irrevocable and once the child reaches adulthood, they are free to spend the funds as they choose.

Direct Payments

Federal gifting rules allow a parent or grandparent to make a direct gift of up to $14,000 per year to anyone without paying gift taxes on it. This amount will not be deducted from the lifetime federal gift and estate tax exclusion and one can make as many gifts of $14,000 or …

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Private Student Loans

Private Student Loans – Benefits

Very low interest rates

Flexibility of payments

Ability to arrange for automatic deductions of loan payments.

Chance of getting substantial discounted loan rates

Deferred payment options can be available.

No upfront fees and charges

Cosigner

Cosigner s are people who can strengthen the approval rating of loans that you apply for.

Having a cosigner can also help to reduce your interest rate.

Eligibility

Under normal conditions you must be a f U.S. citizen a permanent resident

You have to be enrolled at an eligible educational institution.

You must be of legal age.

If you don’t have a cosigner then it is advisable to have at least 24 months of established credit history.

Certain conditions may also apply to your place of residence, check each institution for these conditions.

Cosigners may belong to any state and there is no restriction based on state.

Application

The first thing you need to do is to submit the application, make sure that all the required paperwork is in order. Make a checklist of things that you are required to submit, this will make it easier and also act as a method to double check if you have all the …

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Keep Student Loans Under Control

Private Student Loans (PSL)

According to Student Loan Borrower Assistance (dot) org, “In theory, private student loans are used to fill the gap between available federal aid, and what students and families can afford to pay out-of-pocket for college costs. In practice, unfortunately, many borrowers take out these higher cost loans without first exhausting their federal student assistance options.” PSLs lack the more affordable, fixed rates, and flexible repayment options that federal loans have. Prospective borrowers should exhaust federal grant and loan options before considering a private student loan.

So, Annie’s college is denying their students with an affordable means of obtaining financing for college by not providing federal student aid options for their students. PSLs should only be taken as a LAST RESORT, only after all other options for scholarships, grants, and federal loans are taken.

Interest will start to accrue the moment you take these loans out; there is no “in school” deferment on interest for private loans. So, the amount you borrow today, will grow while you’re in school and you’ll owe much more after graduation, if you don’t start repayment immediately. So many folks have a sticker shock after graduation when they get the bill with …

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Info of Faxless Online Payday Loan

A Faxless Payday Loan is a fiscal sum awarded to you by a respectable lender, however documentation is not required for loan approval. In other words, you save yourself from the tedious worrying that comes with faxing documents back and forth between lenders. That’s right, not all lenders require you to fax in paystubs, credit reports and identification before receiving your approval letter. Don’t waste your precious time, research a Faxless Payday Loan.

Finally we get to the best part; Faxless Online Payday Loans. A Faxless Online Payday Loan can be defined in a similar fashion to a Faxless Payday Loan. The most obvious difference between the two is that one is taken out in an office and the other is taken out in the convenience of your own home. With the help of modern technology, you can take out a Faxless Online Payday Loan in minutes and receive your approval letter nearly as quickly.

This is where you begin to consider the catch, right? Wrong. Although some information is required, it is minimal and much easier than filing and faxing a multitude of papers. If you wish to receive a Faxless Online Payday Loan you must fill out a …

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Reputable Credit Card Companies

Go to your bank and ask them if they carry credit cards, or if they can recommend a good company. Chances are, the answers will be yes, and yes. For unsecured cards, your bank may have less than great rates; but for cards secured by home equity or an equivalent security, your bank will probably have rates competitive with the best advertised prices out on the Web or television – and you have the added comfort of knowing you can trust them.

Go to the MasterCard or Visa websites and ask them for reputable card providers; they may be willing to provide you with a list. Or only apply for cards affiliated with a bank you have heard of, like Wachovia or Bank of America. If you are applying for a card with junk mail applications, look carefully at the application. Does it appear less than professional? Are there misspellings or odd errors? This may be a fraud.

Whoever you go to, keep a record of your application, and follow up on it a month or so later if you haven’t heard anything. The information you get that way may save your credit rating.

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Hiring a Better Debt Management Firm

  1. Avoid any agency that calls you by phone or sends you spam: Most debt management firms advertise in the yellow pages or on the Web, but do not over-aggressively solicit clients. Therefore, there is a good chance any company which does so is not on the level. Debt management companies that follow a cold calling policy or send unsolicited emails will usually not be able to provide any solid references. Most of these companies do not even keep a reserve fund, which serves as a guarantee for the debtor that his creditors will be paid.
  2. Non-profit agencies do not necessarily offer better service: First, not all non-profit debt management firms offer their services free; some firms charge up to 15% of the debt amount. Being a non-profit organization does not make a debt management firm a better and more efficient service provider than those that charge for the services. In fact, companies charging for their service are under an obligation to free their clients of debt as efficiently as possible because they are making a profit from their work and their profitability is directly linked to their credibility and reputation in the market.
  3. Never part with credit card information on
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