Posts By: Melissa Johnson

Bridging loan as the name suggests, is a loan to bridge the gap between the customer’s resources and the customer’s need. So it doesn’t matter what the customer earns, or what price will his house fetch on being sold. He can take a bridging loan to serve his immediate need.

Through a bridging loan he can have cash to pay for his new purchase, till the old home is sold.

Bridging loan is a short term loan having a repayment period of a week to six months. Once the customer sells off his original property he can settle the bridging loan.

The bridging loan is generally secured on the customer’s house / property. The customer can decide to tie either both new and old home to obligation, or any one home can be kept as collateral.

Once through with the property valuation, wherein the lender undertakes measurement of the worth of the house/ property (the value of a property depends on a number of factors. Prominent among them are the location of the house, home furnishings, the condition of the house, and many more), the lender can advance money to the customer within no time. Generally two- thirds of the …

I know there are so many words – secured loans, personal loans, unsecured loans blah! Blah! We are not financial wizards, for us all words denote the same thing – paying money. However, these words are invented for our understanding and help us to choose a loan that serves our need better. The name that stands out is secured loans. Secured loans are the best option available for any homeowner in UK. It is the most simple and efficient way to secure a loan.

Secured loans are a loan which is backed by collateral. Secured loan is offered against the guarantee of anything substantial be it home or any concrete property. It enables us to get loans according to our needs and also get them good deals for easy repayment. Self employed and unemployed also have a chance to get loans for they have collateral to back their needs. The idea of having collateral to back your claims for loan increases your claim as an applicant for loan. When one applies for a secured loan, he signs an agreement which is called a security agreement. This agreement increases the interest of the lender for he has a security against which …

First off, and possibly most important, is to remember to NEVER miss a payment! Student loans are one of the few types of debt that you can’t escape or get rid of through bankruptcy. Student loan debt is considered a good debt and can help your credit score when you make your payments on time and for the amount required. On the converse, your FICO score can really take a hit if you don’t make your payments. In fact, the IRS can garnish your wages and take your state/federal tax return money in trying to collect on your student loan balances. You can also be charged collection fees along with attorney and court fees should the government need to pursue you in court in trying to collect on what you owe them. The bottom line: make your payments. If you aren’t in the position to make the payment they are asking for or you are unable to make anything at all, don’t just sit there! Call your lender and let them know your situation so they can work with you. Federal loan holders are really good about understanding your situation and working with you accordingly. Private lenders will most often …

You would not believe the nightmare I’ve seen clients go through, when they realized someone else’s bad credit history was showing up on their report, causing them to be declined for the loan the should have easily qualified for. Little did they know that every time someone on the other side of town made a late payment, or decided not to pay at all, it was being added to their credit report.

Believe it or not, I’ve even seen one specific case where “Mistaken Credit Identity” forced someone into bankruptcy! That’s right, a lady came to me wanting to apply for a new home loan. Unfortunately she had recently lost her job and her bills were starting to pile up, and her reserves were running low. Luckily, or though she thought, she had plenty of equity in her home that she could access through a home equity loan, to pad her bank account and give her plenty of breathing room until she landed a new job.

To her shock and dismay, I pulled her credit report and informed her that she did not qualify for the loan. She was in disbelief. “I’ve never had a late payment in my life”! …

Loans for doctors offer financial support to all specialist in the healthcare field. Therefore, doctors, dentists, veterinarians, podiatrists, chiropractors, optometrists etc – all are eligible for doctor loans.

Owning a home is not an easy task. The increasing cost of home buying has thwarted the loan plans of many a doctors and resident physicians. But with loans for doctors you can realize the plan to buy or build a house. Loans for doctors are committed to making home buying affordable. Doctor loans solve home buying dreams for resident physicians, practicing physicians, 4th year medical students.

Doctor loans enable you to use your equity for the purpose of debt consolidation. Debt consolidation is the ideal solution if you have prior personal and business debts. Debt consolidation through doctor loans would combine these debts into one single low interest loans. Instead of paying different loan lenders you pay to one lender. The monthly payment is then distributed to repay the various loans. The monthly repayment with doctor loans for debt consolidation is lower. This will leave funds free for your personal use. So, that loan repayment becomes not only manageable but also possible.

Doctor loans also provide funds for real estate financing. …

Working at a place like Children’s Hospital of Philadelphia (CHOP) or facilities like CHOP does not come without a cost. Thomas Jefferson University has an amazing nursing program. Having said that, many of the young college students need a sugar daddy to help pay for their student loans. Every student’s first goal is to advance in life and get a successful education. Many never give thought to all of the costs that are associated with life at the university. This is where having a sugar daddy can help. A sugar daddy is someone who is willing to adopt a student, often called a sugar baby. This whole relationship between a sugar baby and her sugar daddy is a special one. This relationship is beneficial for both the sugar daddy and the sugar baby. As the student furthers their education, there are many costs. Things like tuition, housing, entertainment, food and the cost of books goes up every year. As a college student trying to find all of these funds and repaying student loans becomes stressful. A sugar daddy can provide an allowance that will help to pay the bills and keep food on the table while the student does their …

Obtaining finance is central for starting a new business or making business grow. Financing a business through business loans can be a formidable task. But a good preparation can easily sort out any matter detrimental to getting your business loans approved. Taking a loan for business is an important decision. A business loans borrower must understand that while taking loans can help a business grow, a wrong decision will mean debt and actually damage financial stability of a business. Determine how much loan amount you require as business loans. There are different business loans products to decide from.

A well thought out business plan is the most significant part of getting a business loans approved. The business plan should have projection. Don’t go into details, a concise to the point executive summary which answers all the queries of a business loans, will gain easy acceptance. If you have an established business – financial statement, cash flow for the past three years will be required.

Business Loans application is reviewed, some of the following questions might come up in one version or the other.

  • How much loan do you require?
  • What about business profits, does it have enough cash flow, to

While this may sound reasonable enough there are some disadvantages. Many of these payday loans are a short two weeks or so. Interest rates usually apply as well so depending on the interest amount, the loan may not be worth it.

The primary people that use payday loans are lower and lower middle class people. This can be a burden to some because of the rates that apply. Many people with bad credit use payday loans because they see that as their only option.

If you get a payday loan, you want to try and keep yourself from becoming trapped. If high interest rates are applied to your loan, you could end up repeating your borrowing of money; being unable to repay in time or even having your check held because you couldn’t pay in time. You want to steer of these risks if possible.

There are many ways to keep from having to use a payday loan. While sometimes you may not have any other options, there are ways to not end up in that situation. A great way to keep this from happening is to build an emergency fund.

Some people may find this unreasonable because they already …

The purpose of a bankruptcy is for the debtor to get relief from their creditor(s). An individual files a voluntary petition to initiate the bankruptcy process. The bankruptcy process includes filing for bankruptcy status and eventual discharge of debts. After filing for bankruptcy, there is typically a waiting period for discharge of debts. During this waiting period the court could order an assessment of the financial abilities of the household or entity. Financial education courses may also be required by the court. This may be required to minimize the risk of a future bankruptcy.

The United States Bankruptcy Code includes 2 types of personal bankruptcies. The following is a brief description of each bankruptcy type:

Chapter 7 is the most common type of bankruptcy in the United States. An individual filing for a Chapter 7 bankruptcy must meet the requirements of the “means test for eligibility”. Eligibility for the chapter 7 bankruptcy allows the creditor to repossess any property used as collateral on debt that will be discharged in the bankruptcy. The bankruptcy trustee may also liquidate any non-exempt property and distribute the proceeds to any unsecured creditors. Exempt property typically includes: (1) clothes, and (2) household goods. Other assets …

Good Credit vs. Bad Credit

How important is it to have clean or good credit? It’s very important because the worse off your credit is the harder it will be for you to secure a loan of any sort. It is important to keep on top of your credit finances and make sure that every payment is made on time and always make sure that you pay at least the minimum amount but always try and pay more if you can.

If you currently have bad credit, you shouldn’t worry too much as there are ways to still secure a loan such as having a cosigner. If you choose to go this route, remember that you are both responsible for the loan as it will be taken out in your names. Also, there are many institutions that work with people with bad credit and they will assist you with the repair of your credit file. Here’s a list of a few companies to assist you:

CreditAxis.com, DebtAdvocates.cc, Lexington Law Firm and more. Simply go to your favourite search engine and type in “Credit Repair” and see how many companies show up in your search.
Warning: Be wary of those companies …

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