The Meaning Of A Bad Credit Loan

A personal loan offered for bad credit to customers is a bad credit loan. Its repayment terms are not fixed and hence it will suit the person who takes the loan. In a way it is like taking the first step towards rewriting your credit history. If the person is above the age of 18 and a permanent resident of the country, and who is employed, then he is eligible to apply for this loan. They may need to use it to pay for some important personal event.

The Options Available If A Consolidation Loan Is Not Granted

If one is applying for a debt consolidation loan, it will not be granted if you have debts to clear and also a bad credit history. The lenders do not think that you will be able to pay back. The only options available for you are Personal Insolvency Agreement or Debt Agreement. There are a few people who are ready to sanction a personal loan even with a bad credit history, but then you will be charged a high rate of interest. A few kinds of bad credit loans are payday loans, car loans and home loans

Other Options Available For Repayments Of Debts

A debt agreement is another option available for those who cannot pay back the entire amount of debt, but have funds to repay a part of it. If you are not able to get a personal loan because of bad credit history, this is a good alternative. All the debts are brought under one umbrella. All loans that are not secured like old utility bills, credit cards, personal loans, repossessed cars, will be pooled together. You are required to make one regular payment weekly, fortnightly or monthly. No legal action can be taken against you and there will be a freeze on the interest charges. Finally whatever you cannot repay is cancelled.

The Concerns Of Proposing A Debt Agreement

Since the person who intends a debt agreement, commits an act of bankruptcy which means that if the proposal is not accepted by the creditors, an application can be made to the court to declare the debtor bankrupt. The debtor’s chances of obtaining any loans even personal loans for bad credit will be affected since his name will be mentioned in the credit reporting organisation’s records and this will remain there for about seven years. Secured creditors can sell any asset that was offered as security in case of a default. The payments made towards unsecured creditors are only in proportion of their debts. Debt Agreement should be applied for, only if there is no chance of repayment of loans on time, otherwise debt consolidation is better.

How to Get Approval for a Home Mortgage Loan

If you are planning to apply for a home loan, check out the following helpful tips to get your application approved.

Know Your Credit Score

Credit activity and credit scores will greatly affect your mortgage approval. Lenders usually require minimum amount of credit score that should be maintained so that your conventional mortgage loan request will not be denied.

Also, having derogatory credit information might hinder mortgage approval. To avoid unwanted denial of your requested loan, you should lower your debts, pay bills on time, and fix errors on credit reports.

Save Your Cash

Mortgage lenders require down payments which depend on the kind of loan. If you have the means, pay a higher down payment. This will lower your balance and alleviates your private mortgage insurance.

Down payment is not the only fee you should be worrying about. Acquiring a mortgage also involves home inspections, title searches, closing costs, application fees, credit report fees and other fees. Save up cash for these payable fees.

Stay at Your Job

Changes on your employment and/or income status will have a major effect on the mortgage process. The information you provided in your application will be the basis of your home loan approval. Giving up a job to be self-employed or getting a lower paying job will make a wrench in the plans, leading to a reevaluation of your finances to check if you’re still qualified for the loan.

Pay Debt & Avoid New Debt

Qualifying for a loan doesn’t require that your credit card be zero balance. But, it’s better that you owe less to your creditors. Your debts determine whether you will get a mortgage or not. Also, it will determine how much you will acquire from the lender. When you have many credit card debts which makes your debt ratio high, the lender might refuse your loan request or provide a lower mortgage.

However, even though you get approval for a mortgage with debt, it is advised that new debt should be avoided while under the mortgage process. Before the mortgage closing, lenders recheck credit and when they found out that there are new debts they can stop the closing.

Have Pre-Approval for a Mortgage

Having your home loan pre-approved will help you determine what you can afford before bidding on properties and what interest rate should you be paying on the loan.

Determine What You Can Afford

Choose a home that will fit your budget. Though some lenders pre-approved applicants for more than what they can afford, be smart, live within your means and purchase a home that you can afford.

Improve Your Credit Scores – The Easy Way

The credit score of an individual plays an important role in determining his/her eligibility for a certain type of loan. People While a good credit score makes one easily eligible to seek finances, a negative credit score does just the opposite. Though a majority of lenders are apprehensive of extending loans to people with bad credit scores, this should not dampen the spirits of an individual from seeking loans to meet his/ her necessities. Bankruptcy or a poor credit score is definitely not the end of the road. There are companies that specialize in providing bad credit loans to the customers. Apart from that, with proper knowledge and application over a period of time, an individual can improve his credit score and become a preferred customer for the financing companies yet again.

Firstly, it helps to find out the cause of a low credit score. Figure out if your demands are more than what you can afford, whether you are an extravagant spender, or do you save enough. Reasoning these out will certainly help in finding a way by which you can curb your expenses and have a control on your finances.

Have a good look at your credit report. A credit report is a cumulative report based on the payment history, length of credit history, amounts owed, type of credit and any new credit opted for. Check if there are any errors related to the record of transactions carried out by you. In case of such errors, correspond with your reporting agency and ask for a detailed investigation to fix the problems.

Try to improve your credit scores by paying the bills on time. Clear up the past due bills, if any. Get in touch with your creditors and work out a payment plan that meets the interest of both the parties. Try to minimize your credit card balances and pay off the debts rather than opening new accounts which can in turn lower your credit score. However if you have zero balance unused accounts, do not close them as it might do some good to your overall credit score.

A low credit score holder finds it difficult to qualify for an unsecured credit card or an auto loan. In such a case, a secured credit card is a wiser option. Secured cards give a credit limit that is equal to the amount you have at the issuing bank. Make sure the secured credit card has a reasonable annual fee and also reports your transactions to the major credit bureaus such as Equifax, Experian and Transunion. Your credit score will only improve if your payment details are reported to these credit bureaus. With regular payments one can get the secured credit card upgraded to an unsecured one in a years time. People intending to buy a car can opt for specialized auto loans such as bad credit car loans. These loans charge a higher rate of interest than the general ones but on-time payment of EMIs for a bad credit car loan certainly helps the credit score. Once the score improves, a customer can refinance it with a general car loan that charges a lower rate of interest.

There is nothing to feel downhearted and devastated when you have a low credit score or have run bankrupt. Rather, this should be taken as an opportunity to re-plan your finances in a better way. A wise and strategic approach towards your finances will definitely help you to overcome this temporary phase by improving and building up a good credit score.

What Is Auto Management?

Auto Management, also commonly called Automotive Management, is the management of services around vehicle management. Auto Management includes management for auto repair shops, car and truck dealers, rentals, body shops and more.

So, for a normal person, Auto Management is management of everything that has to do with cars, trucks and other vehicles.

This is a really wide area that covers a lot and is tailored for the automotive area, even though you would see it bringing up areas that are common to most other businesses. Examples of specific automotive areas are:

  • Used car dealer management
  • Franchise management
  • New car dealer management
  • Sales and finance management tailored to automotive industry
  • Car inventory management
  • Spare parts management
  • Dealership management
  • Customer management
  • Showroom management
  • Insurance management
  • Leasing management
  • Sales management
  • Repair and service management
  • Labor management

As you see in the list there are quite a few areas. For most areas you are able to find the same support and management regardless of what vehicle you are involved with, including cars, trucks, motorcycles and boats.

One way to understand what is needed you can just see what is needed to manage when you want to get a car (or any other vehicle).

You start by going to the car dealer. They will show you examples of cars in their showroom. The showroom is designed in a way so that they will be able to sell cars that are most interesting for them to sell easier. Some car companies require a higher visibility than others which is also important for the showroom design.

Once you have chosen a car model you will be able to tailor your new car according to your demands. All these extras are added in the system and a few months later you will receive the car.

Should you lease the car or buy it? If you buy it, do you need a loan for it?

While waiting for your car you might want to rent another car to have something to drive.

You receive your car and of course there are things you want to change. You might want to have some winter tires or other things from the car dealer. You will need insurance and might bring in extra insurance for towing service and free rentals if something happens.

After 6 months it is time for the first service. It includes having personnel being booked to take care of the car. You might have been in a small accident and need the body to be fixed and therefore need to hand it in to that specific area of the car repair shop. This is continuous over a few years and you decide to sell the car. The car dealer makes you a deal to give you another car in exchange and you pay some extra money since the car is new.

The car dealer now has a used car they need to sell. This is another process but with a lot of similarities to sales of a new car.

To support these processes are different kinds of Auto Management Software (or Automotive Software). Different auto management software have different purposes and few include the whole area. There are different kind of auto management software to include support for the areas specified above, such as:

  • Dealer Management System (DMS)
  • CRM Software specific to the automotive industry
  • Inventory Management Software
  • Time Management Software
  • Lead Management Software
  • Finance Software
  • Sales Management Software
  • Warranty Submission System
  • Auction Management Software
  • Vehicle Showroom Management System

Dealer Management Systems usually covers several areas to make it possible to have less software included in the same workplace. This usually makes the working processes more efficient.

The area is so big that this article only covers a brief introduction of what areas to consider and what kind of auto management software that might be interesting to look further at.

10 Surprising Things That Can Affect Your Credit Rating

If you think you have a good credit history, but you have never checked it out, you might be in for a nasty surprise. It’s not just keeping up your payments and being responsible with your borrowing that affects your credit score, there are some ways that you damage it that really shock you. Here are ten of those surprising things that could knock down your credit rating by a few points.

1. Having a company credit card

If your employer has given you a company credit card then that could be affecting your own personal credit score. Most corporate cards are now actually in joint names and that means that you are jointly liable for the credit. It also means that if your company pays their bills late, it will impact on your credit rating.

2. Using your debit card to rent a car

If you pay a deposit on a rented car with your debit card, then the car hire company will probably do a credit check on you. Every credit check that is made on you will take a point off your credit rating.

3. Paying a parking ticket late

No one likes getting a parking ticket and we like paying them even less. That’s why so many people leave it until the last minute to pay them. If you leave it too late, the debt will be passed to a debt recovery company and that will dent your credit rating.

4. Taking out “buy now, pay later” credit

The amazing deals that you can get on furniture, where you pay nothing for twelve months and then its interest free for the next three years could also be damaging your credit score. They look like you have a maxed out line of credit against which you are making no repayments at all for a year.

5. Forgetting to take a library book back

Even something as simple as a library book fine might be recorded against your credit history. If you forget to pay a library fine, local authorities are very quick to pass that on to a debt collection company too, and that will knock more points of your credit score.

6. Waiting for the reminder letter on utility bills

Gas and electricity companies are pretty quick off the mark when it comes to late payment. If you slip up and leave paying them for too long, you will get a letter from a debt collection company and that means another knock to your credit score.

7. Paying off a loan early

Even paying off a loan early can look bad on your credit history. When you pay off a debt early, you save some of the interests, but that can look like you didn’t pay back all that you borrowed.

8. Underutilising a credit card

Lenders are looking to see that you use credit wisely and manage your debts responsibly. If you have credit available, but you never use it, it still uses up some of your available credit and there is no history if your ability to manage credit if you never use the credit that you have available. It is better for your credit rating for you to use a credit card and pay back the balance monthly.

9. Enquiring about loans

Making too many enquires about loans, or getting quotations for loans, will also knock some points off your credit score. In fact, any hard credit check that is done on you will lower your credit score for a period of two years and that includes taking out a new mobile phone contracts as well.

10. Disputing an item on your credit card

If you dispute an item on your credit card statement and your lender takes their time looking into then it will remain an unpaid debt against your name and could still damage your credit score.

Let’s Learn More About How to Get Cheap Auto Insurance

Do you have the right car insurance? Well, many people think that it is a must to have the right car insurance. It will be better if you get the best one with cheap auto insurance. While most people know whether they have liability, collision or comprehensive coverage, some people pay much attention to their insurance coverage until after they have been in an accident, the others just do not really care about it.

Shopping for car insurance is an important planning topic that is often overlooked since most teenagers are added to mom and dad’s insurance policy when they first get behind the wheel and then later shop for the least expensive policy when they have to the pay the bill on their own. In this article, we will be discussing car insurance coverage and so you will get some tips to help you get the most for your money.

Cheap auto insurance has two primary benefits. The first one is protecting your assets and the second one is protecting your health. Getting the proper coverage is the first step in the process. These are the basic types of coverage with which most people are familiar:

1. Liability: This coverage pays for third-party personal injury and death-related claims, as well as any damage to another person’s property that occurs as a result of your automobile accident.

2. Collision: This coverage pays to repair your car after an accident. It is required if you have a loan against your vehicle because the car isn’t really yours – it belongs to the bank, which wants to avoid getting stuck with a wrecked car.

3. Comprehensive: This coverage pays for damage incurred as a result of theft, vandalism, fire, water, etc. If you paid cash for your car or paid off your car loan, you may not need collision or comprehensive coverage.

In addition to the coverage listed above, other optional coverage types include the following:

a. Full Tort/Limited Tort: Your insurance will be reduced by a few dollars if you give up the right to sue when you get an accident. However, giving up your rights is rarely a smart financial move.

b. Medical Payments/Personal Injury Protection: Personal injury protection pays the cost of medical bills for the policyholder and passengers. If you have good health insurance coverage, this may not be necessary.

c. Uninsured/Underinsured Motorist Coverage: This type provides for medical and property damage coverage if you are involved in an accident with an uninsured or underinsured motorist.

d. Towing: Towing coverage pays for a tow if your vehicle cannot be driven after an accident. If you are a member of an automobile service, or if your vehicle comes with roadside assistance provided by the manufacturer, this coverage is unnecessary.

e. Glass Breakage: Some companies do not cover broken glass under their collision or comprehensive policies. In general, this coverage is not worth the long-term cost.

f. Rental: This insurance option covers the cost of a rental car, but rental cars are so inexpensive that it may not be worth paying for this coverage.

g. Gap: If you demolish that $35,000 sport-utility vehicle 10 minutes after you drive it off the lot, the amount the insurance company pays is likely to leave you with no vehicle and a big bill. The same thing applies if your new set of wheels gets stolen. Gap insurance pays the difference between the blue book value of a vehicle and the amount of money still owed on the car. If you are leasing a vehicle or purchasing a vehicle with a low, or no, down payment, gap insurance is a great idea.

Mobile Oil Change Business in the Bay Area – Does it Make Any Sense?

Due to the economy recovering or at least it appears that it might be, many are now considering it’s time to pull the trigger and start their own company. Many folks have been laid off long enough now that they’ve depleted their savings and resources. So, they’ll need to start a business that doesn’t cost a lot to get into. This is where a mobile service business can come in.

The entrepreneur can get a loan for a vehicle from a car dealership, buy some equipment on a lease, and get busy marketing to get customers. Not long ago, I was discussing this topic with an individual considering on starting a mobile oil change business and he stated;

“I’ve been thinking on and off for years about doing this [a mobile oil change company] and now I feel the need to seriously revisit this opportunity. I live in California, the San Francisco Bay Area and have been searching many companies, systems, and ideas.”

Specifically, he wants to know if this business will work good in the San Francisco area, and if he should go for it, what type of business equipment he will need, and any other important considerations. We discussed various potential vendors and business opportunities out there such as:

Lube N’ Go

Oil Butler

On Site oil and Lube

Sage Oil Vak.

Pit Stop Mobile Oil Change

Yes, those are all decent options, and should be studied with proper due diligence, and there is another option of course. What other option you ask? Well, I suppose you could build your own and do it that way. It’s important to carefully study all the options, which will get your mind thinking and make the questions you ask more targeted and thus, lower your learning curve quite a bit.

Now then, if you are really going to start a mobile oil change business then you should probably read some of my online articles on the topic. You can email me if you are interested and I will point you to the links. I have written 75 articles on the topic. Indeed, I think once you read them and create your business plan, then you can formulate what you need to start your business.

Okay so, when it comes to operating such a business in San Francisco, you should be servicing oil changes for fleets in South San Francisco too, or mostly cars in the city for the high-end market. Because the fleet side of the business is the best, of course you will have Chinese run companies on the fleet side and it can get rather competitive. But around SFO is also a ton of business too, and in Oakland etc. 50 mile radius is preferable for fleets.

Indeed, I sure hope this information assists you in building up your company and starting your own business. Please consider all this.

The Importance of Having a Good Credit Score in 2016

An impressive credit history can benefit you in ways you have never imagined. Consider being able to access the following:

1. Higher credit card limits

Who wouldn’t want to have an increased borrowing capacity? Upon proving to creditors that you are a responsible holder of a credit card, your credit card limits will rise automatically. Even if the company doesn’t raise your credit limit, you have the option to make a request for the same. It is impossible for your credit company not to honor your application. It is, however, imperative to keep in mind that the ratio of your available credit to what you have used plays a significant role in the determination of your credit score. Besides, earning higher credit limits will add a few more points to your high score.

2. Landlords’ approvals

Nowadays, property owners use your credit score to determine if they will rent out their houses or apartments to you. The better your score, the more confidence they will have in letting you rent. This is mainly because; they tend to believe that you are more likely to pay on time. With good credit, getting the approval of landlords becomes much easier.

3. Reduced interest rates

Interest rates have witnessed a dramatic rise in recent years. This can largely be blamed on the harsh economic times being experienced by the whole world. However, with a high credit score, you have the opportunity to have your interest rates lowered whenever you take a car loan, a house loan or any other type of loan. With a history of timely payment of loans, lenders will consider you a safe bet to repay the loan. This is an excellent way of saving money. How? One may ask. Even a 1% decrease in interest for a 25-year mortgage can translate to tens of thousands of savings – over the lifetime of the loan.

4. Personal matters

Apparently, your luck for love goes up when you have an impressive credit score. It doesn’t come as a surprise that people are looking into FICO scores when vetting their potential love interests. The world population is becoming more independent and liberated. People aren’t jumping into relationships just for the sake of it. They are willing to stay single rather than invest in non-constructive relationships. They want to get married to partners with whom they can buy a home, cover travel expenses and even invest among many other things.

Poor credit scores are interpreted as a sign of irresponsibility and bad financial management skills. Working towards a high score puts you more at ease when discussing concrete future plans with your love interest. Nothing will make you feel more confident than knowing that you have a top-notch credit score.

Hawaii Small Claims Court Basics – How It Works and Make It Work for You

Having mediated hundreds of cases in Hawaii Small Claims court, I have seen many people who come to court unprepared, not knowing what to expect. Therefore, here are a few things to keep in mind to make the best of Hawaii Small Claims Court and make it work for you.

Which kind of cases can be settled in Hawaii small claims court

All kinds — property damage, breach of contract, security deposit, personal loan, car repair, defective product, personal injury and so on – as long as the monetary value of your case does not exceed $5,000. Be aware that in Hawaii Small Claims Court there is usually no allowance for lost wages, pain and suffering, and travel expenses (unless you had to fly from a neighbor island).

Pros of going through Hawaii small claims court

Settling a case in Hawaii small claims court is quick and inexpensive because you don’t have to hire an attorney. In addition, you have two options to settle your dispute with the other party: You can work out a mutually acceptable agreement with the assistance of a neutral mediator of the Mediation Center of the Pacific, or you can have your day in court and let the judge decide

Cons of Hawaii small claims court

First, in Hawaii small claims court there is no right to appeal. If the judge decides how your dispute should be settled, you must accept that decision — whether you like it or not. Second, keep in mind that winning in court and getting your money are two different things. If you win, the judge is not going to cut you a check. The burden to collect is still yours.

How Hawaii small claims court works

When you file a claim in Hawaii small claims court, the clerk will set a date for your trial. From that point on, you are the plaintiff, and the person you are suing is the defendant. Next, you have to serve the court papers on the defendant — in person, by mail, through the sheriff or a civil process server. One way or another, you have to notify the defendant both about your claim and the day of the trial.

If you have served the defendant properly and he or she shows up in court on the day of the trial, the Judge will ask him/her a simple question: “Do you admit or deny that you owe X dollars to the plaintiff?” If the defendant answers, “I admit,” there is automatically a judgment against him or her for the amount claimed, plus court and service costs. If the defendant says, “I deny — I do not owe the plaintiff anything” or “I owe the plaintiff something, but not the entire amount of the claim,” the judge will send both of you to mediation.

What recourse you have if the defendant refuses to pay

If the defendant is ordered to pay but does not, the plaintiff can take several steps. Typically, he or she could garnish the defendant’s wages or try to find some other assets, like bank accounts. In Hawaii, as in other states, there are specific laws stating what the plaintiff can and cannot do to collect money from the defendant.

What mediation in Hawaii small claims court entails

The purpose of mediation is to give you and the defendant the opportunity, (a) to present your perspective, (b) to listen to the other party’s perspective, and (c) to identify all issues that need to be resolved. Once you have that information, you can decide whether it is in your best interest to work out an agreement that both of you think is fair, or let the judge decide.

The beauty of mediation is that you and the defendant have total control over your settlement. Not only can you decide how much money should change hands and within how many days, weeks or months; you can also resolve any misunderstanding or miscommunication issues — for example, with a verbal or written apology. If you are able to reach a mediated agreement, the mediator will write down its terms, and the judge will check with you that everything you have agreed on is crystal clear.

The benefits of mediation

You (the plaintiff) are more likely to receive all agreed-upon payments. The defendant avoids having a judgment entered against him or her, which could affect his/her credit rating for years to come. And both of you have an opportunity to preserve your relationship. Also, mediation takes place right there in small claims court on the same day of the trial.

Who pays for mediation in Hawaii small claims court

The Hawaii Judiciary has a contract with different mediation centers on each island — for Oahu it is the Mediation Center of the Pacific — to provide mediation services in small claims court. Thus, the cost of mediation is not paid by either party (plaintiff or defendant). It is paid by the Hawaii Judiciary (i.e., by Hawaii taxpayers).

What happens if you are unable to work out an agreement in mediation

The judge will decide how your dispute should be settled. In that case, nothing you said or offered during mediation can be used against you in court, because mediation is confidential.

What to expect if you have to go to trial

If you are the plaintiff, you have the burden of proof that, A, you suffered a monetary damage and, B, the defendant is liable for it. The way you do that is through your testimony, your evidence (documents, receipts, invoices, pictures) and your witnesses.

To be safe, make sure to print out any pictures, emails or documents you have on your computer or cellular phone. As for your witnesses, they must be present in court so the judge can determine their qualifications and credibility.

And finally, be aware of what the judge will do if your dispute — like many disputes — is not black and white, but there is a gray area because neither you nor the defendant can prove conclusively who said or did what. In this case the judge will apply a little-known legal concept called “preponderance of evidence.” It works like this: If the judge believes you 51 percent and the defendant 49 percent, you win. But if the judge believes the defendant 51 percent and you 49 percent, you lose. Perhaps this is another reason small claims court judges prefer that you and the defendant reach your own settlement agreement in mediation.

A Car Lease Buyout: Welcome Home a Car Full of Memories

You neither have to leave your car nor the memories attached to it.

It is tough to forget things that have touched your heart. Memories that you created while driving your car will remain in your heart forever. But, what if you have to give away the car after the lease period gets over? Do not lose heart because you can consider the option of a car lease buyout and keep your car with you forever.

Is it smart to buy your Leased Car?

Car leasing comes with the option of buying the car at the end of the lease period or before the period gets over. It is called a ‘car lease buyout’. It simply means to buy your leased car – either with cash or loan. Since you know it’s condition very well, there will be no surprises for you in the future. A car lease buyout option is safer than purchasing a different used car because you will be able well-aware of the situation of it.

Multiple Benefits of a Car Lease Buyout

Every individual has a passion. And if you want to become a proud car owner, a car lease buyout can help you with it. You can buy your leased car and never let go of your fond memories. So, why opt for it? The answer lies in its multiple benefits:

· Good Opportunity

The purchase price of a leased car is less than the current market value of it. A car lease buyout option gives you an opportunity to bring home your favorite vehicle. If you can’t buy your leased car with cash, do not worry. There are many auto financing companies that will help you with a loan. A good selection of the loan will provide you with low interest rates.

· Elimination of Surprises

You are aware of the car’s condition. And, as you had planned for returning it at the end of lease period, you have left no stone unturned in taking good care of it. So, when you opt for a car lease buyout option, there will be no surprises or shocks in the near future.

· Top Choice

You already have the car that you like. There is no question of research or test drive. Although you will have to undertake negotiating process with the lessor, it is better than starting the car buying process from scratch.

A Car Lease Buyout: A Choice for Every One

Your happiness is your choice. If you like your leased car, it is the right time to buy it. A car lease buyout provides you with two options. Following are the two options with you:

· Lease End Buyout

It means that you can buy your leased car after the lease contract ends. It requires you to pay the residual value of the car. A residual value is the car’s worth at the end of the lease. It is usually agreed upon at the beginning of the lease period and is mentioned in the contract. So, is it a smart decision to opt for it? Compare the residual value to the current market value of the car. When the residual value is less than or equal to the market value, buying the car is a good deal. Also, you can opt for it if:

– Overall performance of the car is good.

– It doesn’t require repair.

– You are able to get a loan at a good interest rate.

· Early Lease Buyout

It gives you an option to buy your leased car before the end of the lease period. It is better to consider it if:

– The car has exceeded the allowed mileage limit.

– You are unable to keep up with the maintenance cost.

– There is interior or exterior damage to the car.

Early lease buyout option may not be a good deal because of additional depreciation fees. So, it is wise to wait till the lease period ends in order to get the best deal.

Shopping for a car takes a lot of time and energy. But, a car lease buyout will help you. Let your passion have wings with the ownership of your leased car. Buy the known car, which helped you create your memories, to build more memories!

Used Automobile Dealers Facing Tough Market Amid New Car Competition

Years ago, it appeared that purchasing a used automobile was a prudent and practical thing to do because it was much more affordable compared to acquiring a brand new vehicle. Fast forward to 2013, industry experts concur that used car dealerships are having a difficult time in this market as potential car owners are shifting towards new rather than used.

Speaking with The Nation in September, Somchai Trakulpirom, general manager of Master Certified Used Cars, noted that the used car industry needs to make adjustments in its business model and provide better offers than what is presently being offered by their counterparts.

The difficult market, for instance, is suggesting that consumers are buying because of the attractive promotions that are being listed, such as zero down payment, low interest, inexpensive bi-weekly or monthly payments and other special promotions – stronger offers are even expected as dealerships attempt to clear out their inventories.

Most of these heightened promotions have been running since the summer and have been fueled because of the federal government’s first-car-buy initiative launched last year. Dealers are looking to build upon its new car sales growth it has been experiencing for quite a while now.

In addition, with the rise of smaller, smart cars, they’re maintaining a price that is just as affordable as a superior, used vehicle model: the Chevrolet Spark LS is $12,995, Smart ForTwo Pure is $13,240 and the Nissan Versa S Sedan is $12,780.

Anuchart Deeprasert of the Thai Hire Purchase Association reported that finance lenders have found a 20 percent reduction in used car loans – other estimates suggest as much as 30 percent. However, the organization did say that it expects used car purchases to return to normal growth sometime next year.

Furthermore, used vehicles, according to Trakulpirom, consist of a depreciation rate of between 10 and 25 percent. This means bad debts equates to fewer loans and financial institutions are becoming fastidious in approving loans due to the large number of high rate of bad debts.

“For example, the first-car-buyer scheme, which at first looked attractive because of the increased production volume and cash flow, has been responsible for stealing future demand,” Trakulpirom told the news media outlet. “Some buyers made purchases under the scheme to make a direct profit, while some buyers who would not be able to afford a vehicle in normal conditions are now facing difficulties in paying the monthly installments, and are allowing the vehicles to be repossessed by the finance companies, resulting in a large number of bad debts.”

He added: “If finance companies have a large number of repossessed vehicles, they will be more careful with loan approvals and deny more applications. Demand for used cars is now controlled by financing requirements.”

Last month, forecasters and analysts predicted softer prices and an enhanced used vehicle selection in 2014. This is due in part to the sheer number of eight- to 12-year-old cars that currently need to be replaced. Although most concur that prices of used vehicles will not plummet, it is believed that smaller and mid-sized cars will experience the highest price drop because of competition in that market base.

Nevertheless, with the Motor Expo 2013 gearing up, auto manufacturers and dealers may unite and increase its promotions, such as a low-down-payment offer for civil servants and state-enterprise officers as well as even a grace period.

The sales of 98,000 vehicles per month are surely an incentive for both manufacturer and dealer to persist in running these campaigns to draw in more consumers throughout 2014.

A Car Lease Buyout: Welcome Home a Car Full of Memories

You neither have to leave your car nor the memories attached to it.

It is tough to forget things that have touched your heart. Memories that you created while driving your car will remain in your heart forever. But, what if you have to give away the car after the lease period gets over? Do not lose heart because you can consider the option of a car lease buyout and keep your car with you forever.

Is it smart to buy your Leased Car?

Car leasing comes with the option of buying the car at the end of the lease period or before the period gets over. It is called a ‘car lease buyout’. It simply means to buy your leased car – either with cash or loan. Since you know it’s condition very well, there will be no surprises for you in the future. A car lease buyout option is safer than purchasing a different used car because you will be able well-aware of the situation of it.

Multiple Benefits of a Car Lease Buyout

Every individual has a passion. And if you want to become a proud car owner, a car lease buyout can help you with it. You can buy your leased car and never let go of your fond memories. So, why opt for it? The answer lies in its multiple benefits:

· Good Opportunity

The purchase price of a leased car is less than the current market value of it. A car lease buyout option gives you an opportunity to bring home your favorite vehicle. If you can’t buy your leased car with cash, do not worry. There are many auto financing companies that will help you with a loan. A good selection of the loan will provide you with low interest rates.

· Elimination of Surprises

You are aware of the car’s condition. And, as you had planned for returning it at the end of lease period, you have left no stone unturned in taking good care of it. So, when you opt for a car lease buyout option, there will be no surprises or shocks in the near future.

· Top Choice

You already have the car that you like. There is no question of research or test drive. Although you will have to undertake negotiating process with the lessor, it is better than starting the car buying process from scratch.

A Car Lease Buyout: A Choice for Every One

Your happiness is your choice. If you like your leased car, it is the right time to buy it. A car lease buyout provides you with two options. Following are the two options with you:

· Lease End Buyout

It means that you can buy your leased car after the lease contract ends. It requires you to pay the residual value of the car. A residual value is the car’s worth at the end of the lease. It is usually agreed upon at the beginning of the lease period and is mentioned in the contract. So, is it a smart decision to opt for it? Compare the residual value to the current market value of the car. When the residual value is less than or equal to the market value, buying the car is a good deal. Also, you can opt for it if:

– Overall performance of the car is good.

– It doesn’t require repair.

– You are able to get a loan at a good interest rate.

· Early Lease Buyout

It gives you an option to buy your leased car before the end of the lease period. It is better to consider it if:

– The car has exceeded the allowed mileage limit.

– You are unable to keep up with the maintenance cost.

– There is interior or exterior damage to the car.

Early lease buyout option may not be a good deal because of additional depreciation fees. So, it is wise to wait till the lease period ends in order to get the best deal.

Shopping for a car takes a lot of time and energy. But, a car lease buyout will help you. Let your passion have wings with the ownership of your leased car. Buy the known car, which helped you create your memories, to build more memories!

How to Win the Financial Battle Vs Your Automobile

Think in the Long Term (for Models)

Buy the car you want – but only after it is at least two years old, and three would be better. By doing this, you automatically save hundreds of thousands of dollars over your lifetime.

When I was 23, I wanted to buy a nice four-door sedan, and I was drawn to the Cadillac STS. The new model had a base price of more $50,000, and with any kind of little extras the sticker was almost $55,000. I was doing very well at a young age, but I wasn’t doing that well to blow 50 grand on a new car.

I was thumbing through my local paper (yes, this was before the Internet changed everything) and saw an ad for a 2½ year old Cadillac STS for $19,500. The car had less than 40,000 miles on it and came with an extended warranty to 90,000 miles. It was gorgeous, shiny and just serviced.

It was an attractive price since the first owner was eating the depreciation.

According to the average car will lose 11 percent of its value the second you roll it off the lot and an additional 15 percent to 20 percent the first year you own it. The second-year depreciation (loss) is another 15 percent, for a loss of at least 45 percent over the first two years.

Depreciation is usually calculated off of the base price, not the extras. This could be the sport package that raises the price $10,000 but only gives you $2,000 back after the first year or two. So it’s quite possible to find beautiful cars with manufacturer warranties still in place and pay 35 percent to 50 percent less than the first owner did when purchased new.

I drove that car for four years, had very few out-of-pocket repairs, and sold it for $3,500.

So what kind of deal could you get today? When I was young, one of the dream cars was a Ferrari Testarossa, and its price was around $200,000. You can buy one now for around $50,000, and most don’t have that many miles on them because they’re babied by the owners.

Think in the Short Term (for Loans)

If you finance your auto purchase, you can save a lot of money by keeping the term to no more than 36 months. This builds equity in the car faster and saves on interest.

This might be difficult because the monthly payment is higher than if you finance over six years, and it’s higher than a monthly lease. If you finance $25,000 at 5 percent interest for three years, your monthly payment will be $749.27, and your total payout will be $26,974. If you extend that loan out to six years, your monthly payment drops to $402.62, but your total payout rises to $28,989. That’s $2,015 more out of your pocket to own the car.

Assuming you buy the car with a small down payment, by financing it for six years, your loan pay-down is going at a much slower pace than the depreciation on the vehicle, creating an “underwater” situation on the car almost from the get-go. During the three-year program, you’re paying down the car faster than it’s depreciating, giving you options if you have to sell the vehicle.

If you truly can’t afford that three-year payment, take out a five-year option and send a little extra every month toward the principal to pay it off sooner.

Leasing a newer model looks attractive because the monthly payment is less, but you might not want to do that. I’ll explain why next post, when I offer several other ways to save loads of money when purchasing an automobile.

Believe it or not you might be better off buying your own car rather than funding your 401k or IRA!

Is College Debt Really Necessary? What Parents and Students Should Know

“Had the people who started Facebook decided to stay at Harvard, they would not have been able to build the company, and by the time they graduated in 2006, that window probably would have come and gone.” – Peter Thiel, co-founder of PayPal.

Ever since I can remember, I was inculcated with the belief that in order to truly succeed in America, you have to get at least a 4 year degree from a prestigious university; even if it means taking on a ton of debt that you may work your entire adult life to pay off.

I also came to believe that if you really want to stay on the top of the heap, then you need to take on even more debt and get a graduate degree, hence my own post-graduate alphabet soup, including law school.

In high schools across the nation, statistics are still being trotted out by guidance counselors to “prove” that young people have no chance of success without that high-priced sheepskin, or that, if they somehow manage to land a job without one, they will never get promoted and will be stuck in bottom-of-the-ladder limbo land for all eternity.

Twenty years ago, the idea that “you have to go to college to make good money” might have been more truth than myth.

Now, though,, the ever-escalating cost of tuition, fees, and books at America’s universities means that post financial collapse parents might want to take another, perhaps more jaundiced view of the entire higher education system even as the old school narrative continues to be shoved down their throats by university marketing departments.

As a financial educator, I have had numerous concerns about my own clients taking on the costly burdens associated with financing their child’s college education. Truthfully, it makes me more than a bit queasy when I see clients raiding their savings and retirement accounts to send Junior to a fancy private school.

This is especially true in a financial system in flux, where, for the first time ever, over 50% of the unemployed and underemployed have college degrees. To make matters worse, there is a bubble on the horizon; large, paper-thin, and waiting for one tiny pin prick to explode it.

This bubble comes in the form of easy-to-obtain student loans that many are finding are not so easy to pay back. A 2012 article on CNN’s website reported that, at a time of record high unemployment for college grads, student indebtedness had reached an average of nearly $27.000.

“… Two-thirds of the class of 2011 held student loans upon graduation, and the average borrower owed $26,600, according to a report from the Institute for College Access & Success’ Project on Student Debt. That’s up 5% from 2010 and is the highest level of debt in the seven years the report has been published.” (1)

Beyond the expense of college there is also the thornier issue of whether most college kids are learning anything of real value that can be applied to the new economy. The education cartel, always in need of fresh blood and fresh wallets, has systematically smeared those who work in the trades as “blue-collar,” or “uneducated,” and thus somehow inferior to those with Ivy League degrees.

Matthew B. Crawford, a fellow at the Institute for Advanced Studies in Culture at the University of Virginia, and author of the bestseller, Shop Class as Soulcraft: An Inquiry into the Value of Work, has posited that the degradation of manual labor and the rise of so-called knowledge-based jobs was wrongheaded and that the future will belong to those who actually know how to do things such as build custom furniture, repair a car, or install heating and air conditioning units.

Says Crawford:

“While manufacturing jobs have certainly left our shores to a disturbing degree, the manual trades have not. If you need a deck built, or your car fixed, the Chinese are of no help. Because they are in China. And in fact there are reported labor shortages in both construction and auto repair. Yet the trades and manufacturing are lumped together in the mind of the pundit class as “blue collar,” and their requiem is intoned. Even so, the Wall Street Journal recently wondered whether “skilled [manual] labor is becoming one of the few sure paths to a good living.”

Crawford also observes that “If the goal is to earn a living, then, maybe it isn’t really true that 18-year-olds need to be imparted with a sense of panic about getting into college (though they certainly need to learn). Some people are hustled off to college, then to the cubicle, against their own inclinations and natural bents, when they would rather be learning to build things or fix things… ” (2)

The Cartelization of Education

We need only look, says bestselling author and trend forecaster Charles Hugh Smith, to the advent of the higher education cartel to see the reason for our obstinate addiction to the “old school” higher education system and the instance that insistence that everyone needs to go to college. There is a lot of money to be made, says Smith, and an elite cadre of cartel bosses who stand to profit by promoting that myth.

“Why does the old style system still persist even though it is already demonstrably inferior? In addition to the financial disincentives, there is another reason: the current system retains a monopoly on assessing student learning and granting credit for demonstrated accomplishment. The schools are able to do this because they have arranged a monopoly on accreditation. This is ultimately a grant of state power.

As a result, modern colleges and universities have collectively become a rent-seeking cartel, an alliance of nominally competitive institutions that maintains a highly profitable monopoly of accreditation. To grasp the power of the cartel, consider a typical Physics I course even at MIT is almost entirely based on Newtonian mechanics, and the subject matter is entirely in the public domain. Only a cartel could arrange to charge $1,500 and more per student for tuition and texts, in the face of far lower cost and superior quality materials, for subject matter that is no more recent than the 19th Century.” (3)

Jeffrey Tucker, CEO of the startup Linerty.me and publisher at Laissez Faire Books, agrees with Smith and maintains that cartelization has ensured that a return on investment in higher education is far from a sure thing for most students and their parents.

… even if the teen does everything right-every test trained for and taken five times, every activity listed on the portfolio, a high GPA, top of the class, early applications and admissions-you are not home free. You are going to spend six figures, but there is also a high opportunity cost: you remove your child from remunerative work for four years, and this is after four years of no employment in high school. That means both lost income and lost job experience. College is costly in every way. (4)

Citing what economists refer to as “inelastic demand,” Tucker writes that the cartel is exceptionally aware of, and deliberately contributes to, parental unwillingness to forego a four-year college education for their children, even if it means putting themselves in the poor house.

“Parents would gladly step in front of a bus to save their children, so facing debt and financial loss for a few years seems just part of parental obligation. This is why, in economic terms, the demand for college is relatively inelastic: Parents keep paying and paying no matter how bad it gets,” he argues. (4)

I see a lot of angst concerning this issue among my own clients. As the parent of a high school student, I understand it. The idea of college “no mater what” is so ingrained in our thinking that when a child tells us they are considering postponing college or even not going at all, parents tend to panic.

However, the stakes are higher than ever before and the potential for damage to the parents’ own financial well-being is enormous, not to mention the contribution education debt makes to our national economic malaise.

Parents and students need to ask themselves honest questions about the value of a traditional four-year degree, what the potential return on that investment will be, and whether or not there are viable alternatives.

Student Debt and Wall Street

As of this writing, current student debt stands at around $1.2 trillion dollars, more than the entire gross domestic products of some nations, including Canada.

After what we’ve discussed in previous chapters, it should come as no shock to you that many banks have turned these college loan obligations into (surprise, surprise) “investments” and are busy shopping them on Wall Street as subprime debt.

The market for these educational loans is relatively small compared to the market for home loans, so I doubt that it will be as massive a bubble as we had during the housing market.

However, if the Fed continues to hold interest rates down, investors might be desperate enough to snap more of them up. Then we could have another potential economy-damaging event on our hands.

Teresa’s Takeaway: Alternatives to Traditional 4-Year Degrees

Many of my clients are able to fund their kids’ education without incurring any debt due to their diligence in creating and maintaining their own private finance system using specially-designed insurance policies. In fact, I set up many of these policies that have as their express purpose the funding of a university education.

That being said, however, I never think it is a good idea to spend money simply because you have it available.

If you are a young person considering college or graduate school, do your research and question your motivations. Before saddling yourself or your parents or grandparents with a lot of debt- consider alternatives to four-year colleges, such as online degrees, community colleges, and trade schools. Ask yourself if what you really love and want to do

Find out if what you want to do really does require a college degree in the first place. Amazingly there are lots of high-paying jobs that don’t require 4-year degrees.

Look into local and community colleges, where your expenses are often a fraction of what private universities charge.

If you’re a recent high school graduate, take a year to “cool off,” work, save and travel. Gain a better understanding of yourself, your strengths and weaknesses. Learn what you have to offer to the world. Contribute to the global conversation in a meaningful way as a volunteer.

A bright spot in all of this is the fact that there are some great alternatives to the traditional sheepskin; alternatives that might actually broaden a students’ understanding of the world and give them skills that are needed in the new economy without bankrupting mom and dad.

Bestselling author James Altucher, a longtime proponent of re-thinking college, provides a few real alternatives to college.

Altucher suggests that some college prospects might be better off taking their college savings and starting a business.

He also suggests traveling to a country such as India and immersing your self in a culture completely different than your own.

You will learn what poverty is. You will learn the value of how to stretch a dollar. You will often be in situations where you need to learn how to survive despite the odds being against you. If you’re going to throw up you might as well do it from dysentery than from drinking too much at a frat party, “he writes. (5)

For even more ideas of what to do instead of college, check the resource section of this book for a link to Altucher’s report “40 Alternatives to College.”

References:

(1) Report CNN Money “Average Student Loan Debt Nears $27,000”

(2) Crawford, Matthew B. Shop Class as Soulcraft: An Inquiry into the Value of Work

(3) Smith, Charles Hugh, Higher Education Cartel, Meet Creative Destruction, Sept. 9,2013

(4) Tucker, Jeffrey A.”Is There A Viable Alternative to College?” The Freeman, July 2013

(5) Altucher, James “8 Alternatives to College” The Altucher Confidential. January 8, 2011

How to Improve Your Credit After Bankruptcy

As you may know already, Chapters 7, 11, and 12 will remain on one’s credit report for ten years from the filing date. A Chapter 13 bankruptcy is reported for seven years from the filing date. Accounts included in a bankruptcy will remain for seven years from the date reported as included in the bankruptcy. Your ability to re-establish your credit after filing bankruptcy is better now than it has ever been. After your bankruptcy is discharged, you will start receiving a great number of solicitations offering to finance homes, vehicles and credit cards.

These are some of the following steps you should take:

1. Examine Your Credit Report – The very first thing you should do is obtain a copy of your credit reports and make sure there are no errors or inaccuracies in you report.

2. Pay Your Bills On Time, Every Time – Pay your bills and rent on time all the time. Remember your payment history is 35% of your credit score.

3. Bank Account – Start with a checking or savings account. Lenders may use this to determine if you are currently being responsible with finances.

4. Build With Store Credit – Apply for store credit cards or gas card. Use it for items you would normally pay cash for, this way it keeps your monthly balances within reason which makes it easier to pay off each month.

5. Secured Credit Cards – Apply for a secured card where you can deposit cash and charge against it. Pay advances back over two months so that they will be reflected as positive marks on your credit report.

6. Friends Or Family – Find a friend or relative that is willing to co-sign for you on a loan or add you to their credit file.

7. Look For The Right Lenders – Search out lenders that are more apt to consider to help you even with a bankruptcy.

8. Buying A Car – If you buy a car, make sure it’s a used car so you do not get hit with the depreciation that occurs during the first two years of a new car purchase.

9. Stay Away From Payday Loans – Payday loans that are at high interest rates they are a “bad credit” trap.

10. Be Proactive – Often times writing a letter to each of the credit bureaus explaining the circumstances that initially lead you filing for bankruptcy.

One of the most important lesson to learn in dealing with the challenges of a bankruptcy is to be patient. Understand that the path to bankruptcy did not happen overnight. And neither will the path to improving your credit. By following the tips above, the path to improved credit score is very possible. If you adhere to these 10 tips you will be able to improve your credit score and your life.

Some Useful Tips for Monitoring and Repairing Your Credit

We all know our credit score is the heartbeat of our financial lives. We must do all we can to protect that all important 3 digit number!

If your credit is bad, it can prevent you from many things, such as car loans or home loans. Credit rating will fall based on unpaid bills or paying fees too late. The tips listed here can help raise your credit score.

Financing homes can be difficult when your credit score is low. FHA loans might be a good option to consider in these circumstances, because the federal government guarantees them. FHA loans offer lower down payment or pay closing costs.

The first step in credit repair is to build a commitment to adhere to it. You must be dedicated to making some significant changes and stick with them. Only buy the things that are absolutely needed.

A good credit report means you are more likely to get financing for a mortgage on the house of your dreams. Making regular mortgage payments in a timely manner helps raise your credit score. This is helpful in the event that you want to borrow funds.

Negative info stays on your history for up to seven years!

You need to work with your creditors when you have credit cards. This prevents you from sinking further into debt or further damaging your credit in good standing and repair any damage that may have been caused.

Give your credit card company a call and ask them to lower your credit card. Not only can this tactic prevent you from getting yourself in over your head with debt, but it will be reflected in your credit score because it shows that you are responsible with your credit.

Even though the particular credit item may not be accurate, any small mistake in the item, date, could make the entire entry invalid and eligible for removal.

Bankruptcy should only be viewed as a last resort. This will have damaging consequences to your credit report for ten years. It might seem like a good thing but in the long run you’re just hurting yourself.

Take the time to carefully go over your credit card statements. It is solely your responsibility to make sure everything is correct and error free.

Avoid using credit cards at all. Pay with cash instead. If you absolutely have no other choice but to use a credit card, always pay the balance in full each month.

Debt collection agencies can be the most difficult part of a bad credit. These letters stop collection agencies that harassing debtors, but the consumer remains responsible for paying the debt.

Your credit score will also suffer from opening new lines of credit. When offered large discounts or incentives for opening a new credit card, resist the urge to open a new store credit card. If you continue to increase your debt, your credit score will be greatly reduced.

Hopefully some of these tips gave you some insight into taking care of your credit rating. If you have any questions, please visit us at www.lsfcreditservices.com

Tax Refund Cash Advance – Emergency Loans With Tax Refund

If I had made this statement a few years back that you can deal with almost any sort of cash emergency; you would surely have negative opinion towards my statement however, there is a new option that can really help people in times in emergencies, and help save them money as well, this is called a Tax Refund Cash Advance! People used to be so worried whenever a medical emergency or anything like that occurred and they were short on funds. This happened because usually the monthly salaries were not enough and they still are not enough. Cash advances came into being to address all such issues so people do not have to worry even if their pays went out. Tax Refund Cash Advances were in a way that the borrower can take a small loan amount to address his urgency and return back the money along with the interest on his next pay day and get a tax refund for it!

There are simply numerous lenders you can easily find today and a few of them are the pioneers who launched this great idea some time back. You can easily locate them in several financial institutions and see what deals they have to offer regarding Tax Refund Cash Advances. It depends on your pay amount and credit history how much amount you get approved and what your interest rates will be. It is always wise to shop around good before making the final decision because you can always find something better. You can always search for reliable Tax Refund Cash Advance lenders over the web or by making a few calls through phone directories.

It is important that you end up with a reliable lender in order to avoid future complications. Sometimes un-reputable lenders can start fluctuating the interest rates or charge you with useless penalties. This is why it is also important that you go through all the paper work carefully so you can know each and every rule and regulation there is in the agreement. Get Tax Refund Cash Loans from a lender who offers flexible payback terms and has been in business for quite some time. You can find about a lender’s reputation and all through reading reviews from people who have already done business with them.

Tax Refund Cash Advance should only be taken when the urgency is important because if you fail to pay on time some of the lenders might start creating problems for you. They make phone calls and keep on bugging you for payback. Also, they charge you with big penalties and even increase the interest rates with time. Finding a reliable cash advance lender is not that hard only if you look around good.

Tips on finding a good Tax Refund Cash Advance Lender:

  • Ask friends and family for referrals
  • Check online for testimonials
  • Read articles related to cash advances for help
  • Look on forums for referrals of lenders.

Everyone one of us can fall into unexpected situations where funds are needed to escape. Mostly a situation like this would not tell you before occurring and therefore you might get confused about what to do once the emergency stands in front of you. Today, the times and conditions both are rough and it is hard to make a comfortable living; a middle class person’s pay is not enough to last for the entire month so it is hard to save anything out of it either. The monthly budgets are really tight and even if there are some savings; an emergency can ask more then that too.

Tax Refund Cash Advance are for getting rid of urgent financial needs such as medical, academic fee, house repairs, car repairs, a debt, a loan installment, and whatever you can think of. There was a time when urgencies left terrible outcomes and conditions once they were gone since many people did not had sufficient amount of money to deal with them while opting for bank loans mean waiting for more then a month at least. Tax Refund Cash Advances eliminated all such problems and provided people with urgent cash to take care of the problem and stop it from getting any worse.

Although compared to traditional loans, Tax Refund Cash Advance are not match when it comes to the amount of money but at the same time they are enough to contaminate the current urgency. They are not long term loans like bank loans and that is why the amount is kept limited so it can be paid back on the next payday; as the name of this loan suggests. Usually a Tax Refund Cash Advance will let you avail an amount from 500 dollars going up to 1500 or may be 2000 dollars. This also depends on how much your monthly pay is and whether you will pledge any collateral or not. If your monthly pay is good enough and you can pledge a valuable asset against the money; the amount can certainly raise more and the interest can be kept lower as well.

Thousands and millions of people today are taking help from Tax Refund Cash Advance and there are several lenders that you can easily find online and offline both. Always talk about the interest rates, late payment penalties, and any other questions that you have in mind before signing up for anything; after all, money cannot be taken without having a valid reason.

The Biggest Wealth Destroyer In America (A Humble Opinion)

Let’s talk about cars – specifically car leases

Average life of a car in the 60s – 6 to 8 years

Average life of a car manufactured today – 15 to 20 years

So what happened – technology and innovation! Just as in the case of human beings, this century has seen an exponential increase in the life of vehicles. Thanks to the convergence of various technologies like computers, precision engineering and biomechanics. Also, regulatory requirements on upkeep of cars like the California Smog Check program mandated and managed by the Bureau of Automotive Repair. Someone who buys a new car today; can very well expect the car to run trouble-free in the 2030s. So why is the standard for car leases 3 to 5 years?

Welcome to how a car dealership makes money. Dealerships do NOT make money on the spread between their purchase price, and the selling price. Times are very competitive, plus the internet has made price-shopping very easy for a buyer. That means the negotiation power is now in the hands of the buyer, not the dealership. This has led to the dealers re-inventing ways they make money. They make money on repairs, warranty sales and financing – financing being the core of this article.

Financing methods:

This works in one of two ways:

a) Buyer owns the car, and finances the purchase price through a dealer-affiliated company. Typically auto loans run 5 to 10 years (unlike a home mortgage which runs 15 to 30 years, with 30 years being the most common).

b) Buyer NEVER owns the car; in essence the buyer is paying “rent” for the use of the car. The leasing company owns the car.

Let’s look at issue with a car lease in a mathematical way:

Assumption:

· Average life of a car 15 years.

· Let’s say a consumer in their lifetime drives a car for 60 years.

· Average price of a car $30,000.

Cost of ownership

Cars owned in a lifetime = 60 divided by 15 = 4 cars

Cost of ownership = 4 multiplied by $30,000 = $120,000.

Cost of leasing

Cars leased in a lifetime = 60 divided by 4 years per lease = 15 cars

Amount of lease = 60% of total value = 60% of $30,000 = $18,000

Cost of leasing = 15 cars multiplied by $18,000 = $270,000.

The difference of $150,000 (lease vs own) is what an average consumer spends extra. That means, an average consumer spends more than double the amount by leasing, as opposed to owning! No wonder my auto dealer was so keen on giving me “specials” to sway my decision toward a brand new lease J

Granted, leasing affords new cars every four years – but given the life of a car, isn’t that a waste??

Now here’s where it gets really interesting – if you take the mid-point of savings ($75,000) and the mid-point of years (30 years); re-invest the monies at a 8% compounded annual return – you would have an extra ~ $500,000 in retirement!

Coming back to the topic of the article – the biggest wealth destroyer in America – what takes away half a million dollars from your golden years – car leases!

Confused By Bankruptcy? These Tips Can Help!

Many negative emotions are related to filing bankruptcy. People going through bankruptcy worry about living in debt while trying to survive. As the following article explains, options do exist for those facing financial difficulty.

Protect your house. It isn’t inevitable that you will lose your house when you file for bankruptcy. You could keep your home; it depends on your home’s value or if a second mortgage is on your home. Otherwise, try looking into house exemptions that may let you remain in the home if you meet certain financial threshold requirements.

Make sure all your debts are included in the discharge so you can avoid filing unnecessarily. Certain debts, including student loans, may remain with you regardless of your bankruptcy filing. You may want to consider consulting a loan consolidation service or credit repair agency instead of filing for bankruptcy.

Rest assured, when you file for Chapter 13 bankruptcy, you still have the ability to take out mortgage and car loans. It is just tougher. You will need to secure the trustee’s approval for any new debt obligation. You need to show them why and how you can handle paying back the new loan. Also, be sure you have a clear explanation as to why the item you are purchasing is absolutely necessary.

Every single piece of financial information you have needs to be studied and properly listed when filing a bankruptcy claim. You can delay your bankruptcy process if you do not add in all important information. Even small amounts of money contribute to your overall financial picture, so do not exclude them. This might take the form of odd jobs, extra cars and outstanding personal loans.

If the process of filing for personal bankruptcy has become overwhelming to you, you may find supportive listeners in the form of online Internet chat rooms for people undergoing bankruptcy. Being in a bankruptcy situation is extremely stressful, and it can make you feel isolated, even in the company of friends. The beauty of the Internet is that you can speak anonymously with those who share your feelings about filing and the repercussions.

Before picking a bankruptcy lawyer, speak with more than one, since most offer a consultation for free. Make sure you meet with a licensed attorney rather than a paralegal or assistant, because it is illegal for these people to give legal advice. It will be important to work with a bankruptcy lawyer that you feel comfortable with; a little comparison shopping will help you find the right one.

If you have fears that you will lose your car, ask your lawyer about the possibility of lowering your car payments. Filing for Chapter 7 can help to lower your monthly payments on possessions such as your vehicle, helping to ease your financial load. It is necessary for you to have bought your car prior to the 910 days preceding your filing, your loan must carry a high rate of interest and you must be employed in order to get such a modification, however.

With any luck, this piece has shown you that financial roadblocks are not necessarily the end of the world. At first it can be difficult, but personal bankruptcy can be overcome. Put the information you have found in this article to use so that you can have a very successful bankruptcy.

Improve Your Credit Score With the Help of a Reliable Credit Repair Service Provider

An excellent credit record allows a customer to gain the ability to obtain a lucrative loan program to purchase building, car and other essential things. If you have a good credit score, then you can acquire a good loan program for your requirement. However, if you have inappropriate one, then it might create an obstacle when you plan to buy vehicle, house as well as other relevant things. If you are unable to acquire it, then it becomes difficult for you to acquire an appropriate loan along with affordable interest rates. In this type of scenario, it is quite natural that you should have developed an interest to obtain as well as to maintain this type of score.

However, there are circumstances when you are unable to secure it even though you have tried your level best to do so by all possible means. Indeed, you need to spend a lot of time and energy to repair your bad credit record. Here lies the importance of involvement of this type of service provider. They understand the basic rules and guidelines that are associated with this type of process and they should understand the ways to implement those particular rules to improve it as well as to allow you to save money in the best possible way. However, there is no formula to increase credit score instantly, but there are several instances where a proficient credit repair service provider can allow you to improve it to a great extent. This article will highlight on a few important responsibilities that are fulfilled by a proficient credit service provider.

The key function of this type of service provider is to remove mistakes from this type of report. These mistakes include the occurrence of errors at times of reporting the lenders as well as the occurrence of simple mistakes at the time of offering personal information to the lenders. If you think that there are multiple mistakes occurred in it, then it is advisable that you should get in touch with this type of provider to rectify your mistakes in the best possible way.

It is vital that you should verify every detail of your own credit report in the best possible way. For instance, if you have one negative item on this type of report due to the involvement of a lender who already left the industry, then there is possibility that the appropriate bureau would not get any sort of reply whenever they would call you to verify the details on the report. If such thing happens, it is advisable that you should immediately remove the detail of this type of lender from this type of report.

It is vital to remember that most of these service providers operate their business activities for the last three or four years. Therefore, it is expected that they possess relevant experience or expertise to be able to negotiate with the lenders in the best possible way. If you wish to improve it and if your lender wants to discuss this type of issue, it is advisable that you should take help of this type of service provider without any delay.

Some Laws To Protect Your Automobile

People tend to face numerous issues with respect to their automobiles. Some of the most common problems that people face are –

• Buying a defective car and getting refused a refund, fixing and replacement by the manufacturer.

• After completing a final loan contract, you are asked to sign a new contract with higher down payment.

• You are trapped with deceptive advertisements and you have been sold a more expensive car.

• Dealer conceals optional add-ons and undervalues the trade-in during fixing of the deals.

• Your car is repossessed without your consent by the creditor.

Know Your Rights

There are different laws that save the consumers from auto fraud. Here is a list of various laws and their scheme of protection.

Magnuson-Moss Warranty Act

This law is utilised when a contractor, warrantor or supplier denies complying with a service contract, written warranty or implied warranty.

State Repossession Laws

These laws state that –

• Your car cannot be removed from a locked garage by the car repossession company without your consent.

• You can put your car up in auction or you can pay the full money in order to buy back the car.

• On paying repossession costs or reinstating your loan, you can get your car back in some states.

• Your car must not be sold below market value.

• You should be informed whether the creditor will put the car up for auction or not.

State Lemon Laws

Those cars are dealt by lemon laws that have been repaired many times for the same defect. Different states have different lemon laws.

• Your car should be replaced or refunded by the manufacturer for a substantial defect after four tries.

• Your car should be refunded or replaced for a safety defect after two tries.

Truth in Lending Act (TILA)

According to TILA, interest rates and other information regarding the loan should be disclosed by the lenders before processing a loan. You can get the best auto financing rate with the help of TILA.

Unfair, Deceptive, or Abusive Acts or Practices (UDAP)

You are protected by UDAP from deceptive, unfair and false acts including the false advertisements.

Contacting an Attorney

You should know about the following, if you want to contact an attorney.

Repair Record

Keep record of the timing of the car when it is out for service and keep track of the repair attempts. Every time you repair the car, do not forget to submit a dated and written list of problems to your dealer.

Notice Required

Before entitling to a replacement or refund, you must go through the notice requirement of your state.

Your Refund or Replacement

Ask the manufacturer for a replacement or refund only after confirming that your car is qualified as a lemon. You may have to go through arbitration if a valid arbitration program is incorporated into your written warranty, in order to get your replacement or refund.

Understanding How Credit Repair Really Works is Crucial to Your Financial Battle

What is Credit?

Credit means that you are using someone else’s money to pay for things. It also means that you are making a promise to repay the money to the person or company that loaned you the money.

Whenever a person applies for a loan, mortgage, a credit card or for any other purpose for which he needs to borrow funds from a lending agency, the agency will check the financial credit-worthiness of the person and based upon its assessment of the financial risk involved in the deal, the agency will decide upon the terms and conditions of granting credit. A positive assessment necessitates a sound financial background and a credit history with no bad remarks.

What is Credit Repair?

‘Credit repair’ is a process in which consumers with unfavorable credit histories attempt to re-establish their credit-worthiness. The process usually involves procuring a credit report from the rating agencies and then taking appropriate steps to address any apparent issues such as errors, omissions, misinformation, misreporting or misinterpretation. A consumer can then formally dispute those errors or issues which unjustly distort their financial healthiness and credit-worthiness. Various laws and regulations designed to ensure legal and fair undertaking of the credit repair process can then be utilized to formally and legally start the credit repair process.

Consumers are entitled to a copy of their credit report legally, if they have been denied a credit card or loan and if the information provided on the report is inaccurate, an investigation relating to true facts is necessary for a credit repair.

Why Repair Credit?

A consumer’s credit record significantly influences his future purchasing power and his eligibility of availing any credit facilities in the future. A good rating, or score, can insure a low interest rate and loans for longer term for various purposes like credit card balances, car or home loans. A poor rating makes a consumer vulnerable to finance companies charging exorbitant interest rates and imposing various unnecessary repayment and loan terms. Considering the stakes and the consequences involved, it is absolutely imperative for consumers to understand the importance of repairing their bad or low credit ratings.

The Safe and Legitimate Way to Repair Credit

Credit repair can only be achieved through financial discipline and hard work. Any easy way out of a poor credit history is undoubtedly tempting, but it may lead to further financial difficulties in the future.

If a poor credit history is due to circumstances beyond a consumer’s control, and they are able to somewhat make amends to their credit records after that time, then a creditor can be requested to upgrade credit rating because of a sense of customer loyalty.

Most creditors don’t trust the customers defaulting on their debts, so it may be very difficult to obtain new credit. But once a person is able to demonstrate continuing income stability and prompt payment patterns, his situation can improve in a period of two to three years. This way, even in the case of bankruptcy, a consumer is likely to be offered charge and credit cards within a year or two if maintaining a steady income.

What is most important is evaluating the financial situation. If one finds that they are unable to make at least the minimum payment on outstanding accounts, a contact should be made with the creditors. Many creditors will appreciate the willingness to pay and are most likely to help set up plans for repayment. Avoid making promises which cannot be kept as a small payment is preferable to a large payment that never arrives. Sometimes a small contact can be enough to reduce payments and forestall more severe measures.

The next step is consulting a credit counseling agency. These organizations are staffed with trained individuals experienced in the credit field. A distinction needs to be made between these and the commercial “credit repair” companies who claim that, for a fee, they will undertake credit repair.

No one can legally remove accurate and timely negative information from a credit report. But the law does allow one to request a reinvestigation of information in their file that may be inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic will do can be done by a consumer themselves at little or no cost.

The most important factor in credit repair is recognizing the legitimate and viable options available, recognizing what the scams are, and differentiating between the two. A poor credit history can make it difficult to obtain additional lines of credit making consumers fall prey to many unethical programs that target consumers with less- than-perfect credit. There are no quick fixes in credit repair. Common sense tells you that a third party doesn’t know your credit history better than you. Through contacting credit bureaus, making your own corrections, consolidating your debts and budgeting, you can improve your own score. You don’t need to pay someone to fix it for you. It’s better to apply that money towards discharging your debt.

Summary

Understanding the basics of credit repair and knowing what exactly is needed in order to rebuild your credit history goes a long way to getting it resolved. However, you must be disciplined, find the right credit repair solution for you and not be tempted to fall back into debt.

10 Best Bad Credit Installment Loans

No matter if that you are funding training, buying a vehicle or merely require cash, poor credit succession loans may only be the solution you’ve got been trying to find. You can find a wide variety of bad credit installment lending options to select from – the 10 finest are listed beneath:

1. Payday bad credit payment lending products: A payday bad credit succession financial loan is much like a brief time period succession loan. Nonetheless, you’ll be able to make smaller payments each payday, until your personal loan is compensated off. If you might be 18 years or older, with a reliable source of revenue, you may be pre-qualify to get a payday installment mortgage.

2. Quick Term bad credit sequence financial loans: Quick phrase string lending options of as much as $1500, 00 may be yours in as little as hours. Most of these string lending options are much like payday financial loans but with the choice to pay back the mortgage in smaller portion on your paydays until eventually the loans are paid off.

3. Secured poor credit payment financial loan: gives a bigger sum in loan and longer repayment period. This personal loan will demand collateral.

4. Unsecured negative credit payment bank loan: The unsecured succession personal loan for people with negative credit do not demand collateral, however this bank loan comes which has an increased rate of interest.

5. Car bad credit installment homeowner loans: Do you possess a motor car or truck emergency? Installment lending products can get you back on the roads in no time. No matter whether you have a flat tire or other serious motor vehicle issue, you’ll be able to apply to get a poor credit succession financial loan to take care of all your auto costs.

6. Individual negative credit payment loans: If you require cash in a hurry, it is possible to take out an individual mortgage with terms of one particular to 5 many years and is often utilized for anything.

7. Mortgage negative credit payment financial loans: Homeowner loans for home are recognized as mortgages. The debtor could make monthly string payments around the mortgage loan.

8. Training poor credit sequence lending options: Not certain how that you are going to pay for college expenditures? well a negative credit training bank loan might be your answer.

9. Consolidation bad credit string lending options: Can assist you to merge all of your debts by paying them off with one single financial loan amount.

10. Credit Cards poor credit payment financial loans: Credit card lending options are open-end payment loans – where you make month-to-month funds until finally the personal loan is compensated off.

Right now a lot more and far more individuals are selecting negative credit installment loans, so you’re not alone. To find the most effective deals in town, you are going to must shop around or talk to a personal loan specialist who might be happy to work with you to establish a loan ideal suited to your needs. Regardless of your credit history; negative credit sequence lending products are here for your convenience and are a great resource once you need to have it the most.

If you want to know more information & tips please visit my blog: Bad Credit Mortgage Rate

The US Has A Borrowing Problem And Easy Money Is Making It Worse

What is it with all the borrowing these days – credit card debt, low down payment mortgages, car loans and leases, college tuition loans, and the revival of the $100,000 five-minute loan? It’s like the American Consumer is addicted to easy money. Now with interest rates at historic lows, and the FED considering negative interest rates like the EU and Japan there are investment groups taking advantage of those and then lending money here. It seems like every day I read about more offers for easy consumer credit, get some credit card offer in the mail, or am enticed by some marketing company or corporation to buy something on credit. Let’s talk.

You see, there were two troubling articles in the Wall Street Journal recently; “Subprime Auto Loans Flash Signs of Trouble,” by Serena Ng, published on March 14, 2016. Unfortunately that first article was buried in the paper, only one column and hardly noticed. The other article did make the front page of Section II, it was titled; “The Five-Minute, $100,000 Loan,” by Ruth Simon and this article discussed how shrinking application times is good for small business – but five-minutes? Hmm? How is that good for Small Companies?

We have well over a trillion dollars in student loans, much of which is in the rears over 90-days, and we have challenges with subprime auto-loans, and our real estate prices are rather toppy, and thank god we are in an election year, but what happens after that? When it comes to tuition loans 40% are in borderline default status, even if those loans are not easily discharged. On the Subprime Auto Loans, 12.5% are over 30-days in the rears.

Easy money and low interest rates seem to have consequences. We have businesses large and small borrowing, consumers borrowing, and our government borrowing – no one is saving, and to keep all this going what are most Central Banks doing?

More stimulus, ouch, and exactly how, here in the USA, are college students going to continue to borrow for tuition if those loans are continually in default, whose paying for that? If car loans collapse, auto makers cannot sell cars and that means layoffs, meaning more loans default. We seem to be running redline in debt, and I do not see a way out of this without growth, but if all the growth is fake, stimulated growth from easy money, then at some point the whole thing collapses, and it doesn’t take a rocket-scientist, or economist to see that.

Student Loans and Credit Scores

Discussing family accounts as a way to build credit, it was mentioned that people starting out will usually have student loans as their first credit account, unless they obtain a car loan or credit cards tied to a family member with credit history. Student loans are a tricky area of installment credit history because they are not looked on as favorably as you would imagine.

You might think that having opened student loan accounts when you first went to college would show a history of the account, but in actuality, only when you start making your first payment will student loans count as “credit payment history.” Most student loans are in a deferred status as long as you are in school. Once you are out of school, you have one to four months before the companies begin asking you to make monthly payments that pay down the principal and interest.

Yet, when you have student loans, you have an “amount owed.” This amount owed can actually be reducing your credit scores. One the one hand, you feel that making payments should increase your scores, but then you get dinged for having a high amount owed.

So what can you reasonably do about student loan debt? Do you want to pay it off right away?

According to people like Stephen Snyder and Robert Kiyosaki, if you have student loan debt, you want to leave it as the last items you pay off. It comes down to an IRS strategy. The history of this strategy has existed since student loans became necessary for people to go to college. The minute the IRS allowed you to use your student loan interest paid as a deduction is when this strategy came into being.

How it Works

  • Each month you make a payment you pay interest and a little towards your principal, when you are newly paying on the account.
  • When you file taxes, you are asked to enter the amount in student loan interest you paid.
  • The amount paid is a deduction.
  • During this same period, you are paying a little of the “amount owed,” thus reducing your overall debt amount.
  • You are also making payments, and as long as they are on time and the full monthly amount, you are helping your scores.
  • When you get to a point in the loan, where you are barely making any interest payment at all towards the balance, pay off the debt.

Summary

Student loans, when you first start taking them out appear on your credit report, but without any payment history. It is just an open installment account. The lack of payment history does not help your score, nor does it hurt it. The debt utilization ratio on the other hand will hurt your score a little. It is due to having this debt that makes your score a little lower than if you had no debt at all.

If this is the only debt you have, then it is also considered “little to no debt,” which also does not help when you are trying to get new loans to build your credit history.

When it comes time to make payments to the student loan companies as part of your installment agreement, you need to be on time and pay the monthly amount asked for. If possible, pay more than the monthly amount.

Paying interest helps lower your taxes owed. You want this deduction and the payment history. The deduction may be the only thing you have helping you get a tax refund. The payment history is also helping you increase your score, as the balance goes down.

There will come a point when you are going to pay off the debt in full. Do this when the deduction on your taxes is no longer significant. The reduction of debt owed will also help at this point. The reason behind this key point lies in the other credit you have built. You should be in your 30s or 40s, with a mortgage, credit cards, and other credit that weighs more significantly on your ability to get credit. You no longer need the payment history from the student loans. In fact, given the amount of debt you might have at this point, you want to reduce the “amount owed” you have overall.

The Smart Woman’s Guide to Planning for Retirement by Mary Hunt – Personal Finance Book Review

Money maven, Mary Hunt, returns with a new book, “The Smart Woman’s Guide to Planning for Retirement,” to help women prosper financially in the New Year and beyond. While geared toward females, men can also benefit from Hunt’s money knowledge, honed after she amassed over $100,000 in debt earlier in life; and took 13 years to erase.

“Have you had a retirement wake-up call?” Hunt asks early in the book. “I can promise you they intensify with age.”

Hunt sites a 2012 survey that found that 92 percent of women of all ages do not feel educated enough to reach their retirement savings goals.

Saving for retirement requires determination and hard work; and Hunt believes women can succeed. “If we lack confidence, it’s because we lack knowledge and desire, certainly not because we lack intelligence and ability,” Hunt says.

Time trumps all factors when saving for retirement. The sooner you start, the better. But, Hunt emphasizes, regardless of what stage you are in life, you must begin now. “It’s only too late if you don’t start now. No matter where you are or how little you think you have, start now. Today. Start. Saving.” Take baby steps to produce long-term results.

Hunt’s teachings feature:

Retirement Savings Plan. Hunt promotes a six-step Retirement Savings Plan, which includes:

Build an emergency fund. Also known as a Contingency Fund. Save money for life’s unexpected expenses (car repairs, home repairs, etc.) This money needs to be liquid (easily accessible within two or three days), safe from erosion (build in a risk-free savings account) and able to fund at least six months of living expenses should a job loss or other compromised income event occur.

Get out of debt. Eliminate all unsecured debt (credit card debt, student loans, personal loans). Hunt says they’re like cancer stealing your future. Incorporate Hunt’s Rapid Debt-Repayment Plan (RDRP) to abolish the debt.

Own your home outright. Buy half as much house as your mortgage approval. Make monthly mortgage payments equal to the full approval amount to own your residence in half the time. Fiercely protect your home equity (the difference between your home’s market value and mortgage balance). Avoid taking a home equity loan or line of credit, which resets the clock on a thirty-year mortgage.

Consider hiring a financial planner once debt is eradicated or managed, a respectable amount in savings is amassed, retirement funds are growing, or an IRA inheritance or other cash windfall appears.

Hunt describes three types of financial planners:

  1. Commission-based. This planner doesn’t charge based on time, but by selling investment products. He or she earns commissions on those sales.
  2. Fee-based. This planner works on a fixed fee or charges by the hour. Fees are stated up front and the planner is a registered investment advisor (RIA). They’re required by law to meet fiduciary standards, making them responsible for putting the best interests of their clients first.
  3. Combo. This planner is a combination of the first two. Clients pay a fee, fixed or hourly and the planner earns commissions when the client buys financial products based on their recommendations.

Choose a financial planner with at least five years experience Hunt suggests. Ensure they act in your best interests, and can explain financial concepts on your level. Be wary of any planner who claims to be able to beat the market. Ultimately, collaborate with a planner; yet make your own investment decisions. Hunt underscores that, “An advisor’s or planner’s primary loyalty will be to the hand that feeds her. That is simply human nature.”

Hunt educates in a conversational tone, avoiding jargon, charts and mind-numbing data, which makes for an engaging read. A Christian, she teaches faith-based money management. Hunt believes that God is the source of all life’s blessings, including money. An employer, spouse, investments, trust account, parents or any other entity are the channels through which money flows, but not the ultimate source. She’s making reasonable preparations for retirement without obsession; and trusting God for the outcome.

While having a retirement nest egg is important, Hunt reminds readers there is more to life than money. Health, spirituality, nurturing relationships, staying active, continual learning and volunteering are some attributes of a well-balanced existence.

Decade-by-decade financial planning, the five necessary tools for a money management system, investment basics (automate all payments to avoid not making monthly contributions (out-of-sight, out-of-mind), reverse mortgages, and parents paying for their children’s college education (not required), are other money-saving/building topics addressed in the book.

Anyone committed to improving their financial fitness in 2014, will reap life treasures, beyond the bounds of cash, by inheriting Mary Hunt’s money practices.

To establish your baseline financial status, and/or monitor your progress, order your free credit reports from the three big credit companies: Equifax, Experian, TransUnion, visit: Annual Credit Report.

Beware of Credit Repair Companies As They Do Not Provide Any Results

Non prime credit these days can be obtained very easily and by no fault of your own. Sure there are instances of financial mismanagement and job loss but the world is suffering from an identity theft epidemic as well. What used to be a unusual thing now it is something that has happened to you, a friend, or a family member at least once. Stealing a credit card number to make purchases is one thing, but the trail left behind from someone who successfully used your social security number can be quite long and difficult to remove. None the less, there has to a proven solution to not only fix those mistakes but also prevent them from happening.

So assuming that any of the scenarios have occurred to you, you don’t really find out until it’s too late. This is when you apply for some sort of credit and you get denied. Many of you may already know the status of your credit. Either way, let us assume that you are actually seeking to get it repaired. There are many reasons for better credit including a new or reliable car, moving to a better place to live (buy a new home or rent a nice place), perhaps a credit card because it is cheaper than payday loans by far, and other things. Oh yeah, there are employment issues as well.

Most of us do web searches for everything, including credit repair. In addition to the credit repair signs you see all over town, there are other ways credit repair companies or individuals get your attention. Once they have it, it normally goes like this… ” we are glad you are seeking to repair your credit… in order to repair your credit, we will need a copy of your most recent credit report and our service fee.” Remember, nobody works for free these days, and their fee can be an upfront free, usually in the hundreds or it can be with a monthly retainer, like a popular law firm that start with an L. Regardless of how you come to terms with them, they tell you that they are providing a service and based on the items of your credit report, this process will take some time. So if you are paying a monthly fee, this could be for… who knows…

One more thing, are you going to give someone the tools they need to steal your identity? (Your credit report which has your social, date of birth, addresses, employment info, and such).

Here is the worse part, let’s say, that you paid your fee or your monthly retainer and it has been 11 months since you started your credit repair. You go apply for a loan somewhere and you get denied. So you contact your company or so called law firm and ask them why you were not approved? Their automated response it’s similar to “well sir/ma’am, we offer to repair credit but we cannot guarantee that you will have your credit applications approved because we do not know what companies you have applied for and what they look for. We mainly focus on bad credit and try to repair it.” So after having that feeling of getting ripped off by someone, you try to get a refund because why on earth would you fix your credit if your credit applications are going to get denied… correct? again, their automated response goes like this… “We cannot give you refunds on a service because we have to pay our staff, this is not a product but a service, hence there are no refund on services… “

Unfortunately, it is not illegal in the United States to offer services, take money, and not provide what you offered. It just becomes a civil matter if you have the money to go that far, and normally the judge goes with the service provider. Not only is this a massive waste of money but if you value time more than money (like I do), it’s a double loss.

Lucky for you, there is actually a way to get your credit goals accomplished for real. Before we dive into that, let’s define accomplished. If you want to get your loan applications approved, get an UNSECURED credit cards, upgrade your vehicle, and buy a house, then this is for you. Also, if you wish to get your credit fixed without sharing your personal information such as your credit report with anyone, then this is also for you.

There is a way to correctly repair your credit regardless of what is on it, and turn it into a prime credit file that banks and financial institutions pay to get into their book of business. You ask how is this done? well, very simply actually. Banks and financial institutions have tactics that they use with their own clients to increase their book of business. You don’t do not need a crystal ball to know that every credit applicant does not get approved. Do you wonder what the banks do with the non approved clients? Well, depending on the type of business they are trying to bring and if it is a current client of theirs, they can walk them by the hand and take them from denial to approval. This only works if the client follows their instructions, step by step. And most of them do because they are seeking the financial product in the first place.

Not every bank will do this for their clients. Examples are, lets say the credit file will need more time than average to repair, lets say the clients loan request is not substantial for their time, lets say they are just too busy… bottom line is that not everyone gets the help they want, and normally get turned away because it is not illegal to not help someone with bad credit.

The same tactics that are used by these institutions are now available to you in a video course that takes less than a day to complete. These are not new tactics or procedures, but instructions that have been behind their walls for decades, with proven results. Here is the actual kicker, not every credit file is bad, in fact, there are many applicants that do not get their credit applications approved that do not have collections or other negative things on their credit report. Most are simply missing the other ingredients that banks look for before issuing credit approval. The procedures are designed generate credit approvals on many tiers but your credit gets repaired by default, but it is not the main purpose of the program.

In conclusion, do not get ripped off by these companies who say they will get your credit fixed only to find out the hard way that nothing was ever accomplished. This credit course comes directly from the only qualified source of information to properly accomplish your credit goal, which are the banks.

Car Servicing and Maintenance: Get The Best Maintenance Services From A Reputed Auto Repair Shop

Cars- A Costly Investment

Buying a car is an investment. Unfortunately, it’s going to cost you a lot of money involving loan payments, registration fee, insurance coverage, maintenance, servicing etc. Vehicle repair and maintenance expenses have now become a part and parcel of life. If you fail to take good care of your car then be prepared for an unexpected breakdown.

Maintenance Schedule- How Important It Is?

Vehicle maintenance and servicing is one of the best ways to keep your car in a flawless condition. Remember, your vehicle needs to undergo a maintenance check up every month. With the right maintenance and servicing it will last for a long time and you will also enjoy a smooth drive.

Most of the manufacturers usually offer free servicing packages to the new car owner for the first three months. So car owners don’t need to spend a single penny in the first three months for servicing. Always listen to the advice of the manufacturers because they can help you keep your car in a great shape.

If you are buying a car for the first time, you should first get some advice from your friends or family on vehicle maintenance. Moreover, you can also ask them to refer a reliable and trustworthy mechanic for repairs. You should never ever take your vehicle for granted. Just like you go for a regular health check up to your doctor your car also needs the same care and maintenance for a safe and smooth drive.

A DIY Approach For Vehicle Maintenance- Is It Right?

Never ever take a DIY approach for vehicle maintenance unless it is a very small problem and you know how to fix it. If you don’t have any knowledge about car problems it’s always advisable to visit a reputed servicing station. Have a look at some of the great tips to keep in mind to take care of your cars in the best way:-

· Regular Car Servicing And Maintenance

It is very important for an owner to follow the servicing schedule properly according to the distance/miles. Mostly, it’s the company who set the schedule for the owners.

· Oil change

Every vehicle owner should go for an oil change once a year. Oil change also depends on the distance travelled/miles. Always listen to your mechanic. With timely oil change you can enjoy a smooth drive.

· Check Fluid Level Of Your Car

Of course, you can check the fluid level of your car on your own. In case, you don’t know how to do it ask your mechanic to help you. Check coolant fluid, brake fluid and transmission fluids which are some of the most important fluids.

Conclusion

Educate yourself about automobile repairs and maintenance. It is a fact that there are good mechanics out there to help you with repairs but there are also bad ones who only want to cheat you. Take some time from your busy schedule to find the best repair shop.

Happy driving!

Taking Advantage Of A New York Car Loan

New York car buyers can benefit from a car loan, since it gives them an extended amount of time

to pay for their car. If their income increases, then the fixed cost of the loan will decrease as

a percentage of their total income.

We witness and era of machineries, automatic means to make our life easier, along with a burst of the automobile industry, as man’s most comfortable and easiest way to commute from one place to another. t would seem that cars multiply as days go by, and at first glance, many would say that everyone can afford to buy one. Their prices vary considerably; if some are highly expensive, there are a whole lot more, for the average consumer, which can be bought. However, many cannot buy one because of inadequate cash, and no matter how cheap, it still remains unreachable, and not for few. For them, the car loan is the helping hand and the key.

Many researches have agreed that buying a car with the help of a loan, remains the most profitable way to purchase a car, as opposite to traditional car finances, or car dealers, which are rather expensive and even risky. Certain costs may be kept hidden from you, but will reveal themselves when may be perhaps too late. If you fail to pay a few months in a row, the car will be seized and they are not joking. Another factor why the car loan is better than any other method of finance is that it gives you the freedom of haggling with the price of the car, even when finding the actual loan, as well. The dealers offer packages, which you are not obligated to accept. Thus, car loan offers a cost-effective means of getting the favorite car in your name.

Instant Payday Loans A Quick Solution

Has it ever happened to you that you have found short of cash, for any purpose like for a medical bill or for car repairs, which were an emergency and could not have been overlooked?

From now onwards you can avoid that humiliation by taking the help of instant payday loans. Instant payday loans are basically loans, which are taken for a short term for a specific purpose. These loans generally fill the cash shortage, which can unexpectedly come up before the next cheque becomes due.

Instant payday loans are ideal for expenses such as:

· An unexpected medical bill

· An unexpected car bill

· Grocery bills

· Various utility bills, or

· Any other petty expenses which can suddenly come up

These small expenses can be quite frustrating and then these expenses accrue and can become bigger. So they should be paid off as early as possible before they become even more menacing.

Applying for instant payday loans is easy. Now days there are no of organizations, which are offering the instant payday loans to the people. All a borrower needs to do to apply for a payday loan is to know how much he needs as a loan amount. Then go online and fill your personal and loan application forms of the organizations that deal in providing the instant payday loans. If your conditions fulfill the criterion of the lenders the loans will be transferred in your checking account within one business day i.e. in 24 working hours.

As far as the repayment of the instant payday loans is concerned it is also easy. The repayment schedule is told to the borrowers before they have taken the loan amount. The repayment schedule usually ranges from a period of 7 to 14 days with an opportunity available to extend that up to a month as well. A higher rate of interest will be charged every time the loan period is extended. The amount of loans that you can borrow is from £200 to £1500 with the loan amount depending on your income. So more you earn more you can borrow for your instant payday loans.

Instant payday loans provide many advantages to the borrowers but one disadvantage that could be labeled at these loans is that they carry a high rate of interest. Since they are short-term loans the lenders tries to earn more by charging a higher rate of interest. However you can get comparatively low rates of interest if you can negotiate well with the lenders. Instant payday loans comparison is a good way to find comparatively lower interest rates online.

However there are a few criterions, which a borrower has to fulfill before they can apply for instant payday loans. They are

· The borrower should be currently employed with recurring or regular income

· The borrower should have a minimum income of £1000 per month

· The borrower should hold a current and active checking account, and

· The borrower should be a UK resident and should be at least 18 years old.

Instant payday loans are available to all kind of people even to people with bad credit. These loans are short-term loans and as long as the criterion is fulfilled the loans are made available to everyone who needs these loans. Since these loans are made available quickly there are no credit checks.

Benefits of instant payday loans are:

· They are affordable in any kind of emergency

· They are required in a quick time so no credit checks are required

· They are easy to apply and are approved quickly

· Financial information of the borrower is kept confidential

· Easy for everyone to apply

· Minimum or sometimes no paper work required

Anything can happen any time. Any unexpected bill can come up from anywhere it is not always that we can cover for that. With the help of instant payday loans you can feel secure that nothing will go wrong. As with these loans every possibility is covered.

Hidden Advantages of Outsourcing Services for the Car Loan Industry

Let us face the reality that today, we live in a ‘do-it-yourself’ way of life. As they should, people want to show off their auto repairs, home improvement projects, and many other tasks that majority of us would more often not seek professionals to perform the task, as they just prefer to do it by themselves.

It is absolutely a great value in a number of ways. You can gain expertise from your experience. Sometimes, it does not necessarily mean that it is a better way to go from doing something by yourself because oftentimes, it pays more to hand over and look someone for help.

Many of the car loan businesses are beginning to worry about not only getting in the game but also in maximizing their returns with all sizes racing to compete in the lending market. To outsource car loan business services, many industry experts understand that it is often considered more cost-effective.The most obvious reason for doing this is because industries don’t have to hire new staffs or underwriters solely for car loan operations and services. You have to keep in mind that those industries are also avoiding the other expenses related to assisting the infrastructure associated with an internal underwriting team.

But the advantages don’t stop there because there are a number of hidden advantages that many businesses fail to consider when entertaining ideas of outsourcing their car loan business processing that includes staffing and funding. Here are some of the hidden advantages of outsourcing for car loan business:

Increase the Number of Loans that Leads to More Net Profit

Just consider it as any consumer business committing to sales. As this dealer management is all about being able to see, looking for your niche and catering your offers to the biggest needs of your dealers. Better and stronger relationship with dealers and having more dealerships in the network in order to drive portfolio growth is one of the end goals of outsourcing some services when you are in the car loan business.

Improved Relationships with Customers

Your staff will be able to intensify its focus on strengthening relationships with your customers- making visits, gathering feedback and better addressing their needs that will drive growth for your car loan business portfolio.

A Guideline that Allows the Outsourcing Provider to Serve as an Extension of Your Car Finance Team

Your outsourced car loan provider should be able to efficiently, quickly, and easily customize its financing scorecard to fit your representation. By doing this, it guarantees that making a decision for car loan financing is consistent and fits your appetite and business plan.

Access to Consultation and Expertise

It allows your business to avoid common pitfalls that businesses fall victim to when trying to get in-house functions off the ground when outsourcing your car loan business processing. Through outsourcing, those businesses must hire the expertise that is readily available.

After-Hours Process

By waiting until the next business day to respond to proposals, don’t miss out on those deals especially over the weekend when many consumers have time to hunt for motorcycles, cars, and trucks.

It will absolutely offer a significant benefit over businesses with in-house operations that are confined to traditional business hours when you have an access to after-hours processing service.

Are you ready to revolutionize the way you do business? Grow your business by outsourcing.

Get Relief of Debts Through Debt Relief Consolidation

When you think of debts, the first feeling you get is that of a confused person looking for help desperately. Having a debt not only messes up your financial life but also your mental health. When you feel your savings is in the negative for many months and you are only paying the minimum amount due every month, then its time to seek debt relief help. There is debt relief help available to you rather easily.

Debt consolidation of different types can help you get relief of the extra interest that you pay. The debt relief consolidation is all about consolidating your debts in one account that will make you pay less every month so that you can pay more than the minimum amount due and pay off your debt eventually. debt relief consolidation can change your life totally and make it debt free. It can help you consolidate any kind of debt. The debt may be a loan or credit card dues from different credit cards. No matter what they are, consolidation will not only make you remember them but you will also pay lesser interest.

Debt consolidation is one thing that can be done by you too. But it is possible that you do not have contact with the loan providers with less interest rate or they may not offer you the same rate as they would offer to the debt negotiating companies. Debt negotiating companies can not only help you consolidate the debt but can also help you to get relief of unsecured credit card debt through the service. It is possible to get a huge discount in the amount you need to pay and you may need to pay this in easy installments too.

Getting Help with Payday Loan Debt Settlement

A family vacation, an unexpected car repair, or a long pending renovation at home, when in need for money on such occasions, you are more likely to depend on the payday loans to bail you out. Being easily available and when in need, you do not bother to worry about the high interest rates that it entails. The notion then is that you did be closing it down soon or by the next payday. But by the next big day, you realize that you are just good enough to repay the interest and not kill the debt and need help with payday loan debt. You had got one of the draconian loans to tide through a temporarily difficult period but now you are in a tough spot.

When looking for help with payday loan debt, there are options galore, but no magic potions. Firstly, it would serve your purpose if you try getting helping hands of friends, such lending service with negligible interest would provide great help with payday loan debt repayment. If you do not find any good Samaritans then taking up a part-time job would help in such trying times.

For planners, it would have served your purpose if you had built an emergency cash fund in the savings accounts. But then you can always do that now, so that you can avoid such a misery later. You can even try to negotiate a payment plan with your lenders and try for debt settlement. One more effective help with payday loan debt but risky one for sure would be bankruptcy, if the situation demands such a step then there is no harm taking this route, especially if you cannot even pay your interest and your debts are more than assets. For such a step, you did have to take to legal eyes help. So, with couple of debt settlement strategy, you can tide out of the payday loan, but best thing would be to never find yourselves in such a situation again.

Online Private Loans: A Discreet Alternative

People with bad credit do not always have a lot of options when they are in need of money for an unforeseen expense. Generally, those with good credit ratings will simply ask their home bank for an unsecured personal loan and they will generally end up with favorable terms and reasonable monthly payments. This is not the case for borrowers with bad credit, however. These people often need to avail the use of private loan options. Therefore, there is a need for additional services specifically designed for time when, despite bad credit, a quick personal loan is needed.

Private Loans

Strictly speaking, a private loan is any loan offered by an individual to another individual (also called peer-to-peer lending). Basically, rather than use a traditional financial institution to finance your personal loan, you can go to a friend, family member or co-worker for the money. If you have a good relationship with these people and know that they have the money you need, this is a really great option.

However, many people with bad credit do not know others with this flexibility or they are too embarrassed to ask for help in the first place. These people still have options, however, when it comes to private loans.

Discretion Is Key

If you need money for an unexpected expense, maybe car repair or a traffic ticket, finding the cash right away can be difficult. If you have bad credit, you also need to worry about your ability to acquire the cash in the first place. Maybe you do not have credit cards, or the ones that you do have already have high balances on them. This is when you need to find someone who will offer you the money without much hassle. Private loans represent such a case.

People who find themselves with extra cash and who are looking for a non-traditional investment opportunity often congregate online through lending agencies. These agencies take the investor’s money and offer it as a private personal loan to those in need of fast cash without the aggravation of strict credit standards and bank denials. The interest or fee that you pay on these loans then gets divided among the initial investor and the lending agency. You are able to get money without trouble and these investors are able to make some extra cash.

Online Private Loan Statistics

Since the degree of risk will vary from borrower to borrower, the terms of these private loans will vary as well. Generally, you can borrow as little as $100 and up to $5,000 at different interest rates and fees. Depending on the information you provide, which will include proof of identity as well as income, your interest rates on these loans can be as low as 6% or as high as 35%. Therefore, it is of the utmost importance that you get quotes and shop around before taking any money in a private loan. Be absolutely certain that you have the means to repay the lender and investor that you borrowed from.

A Good Solution

In the case when you need money and have no other means to get it, use of online private loans give bad credit borrowers a good solution to their problems. Though the terms of these loans can be rather strict and the interest rates high due to your bad credit and risk, if you have no other choice, they are a viable tool to help you in times of need.

The Ins and Outs of the Car Repossession Process

When a lender finances a car, they retain the right to repossess it if the repayment terms are not paid as agreed. Each state’s laws set limitations on lenders repossessing automobiles. Most states repossession laws are modeled after article 9 of the Uniform Commercial Code (UCC). Article 9 states that you must be in default on a loan before the repossession process can begin. The definition of default will be disclosed in the financial loan repayment agreement. Most loans have language stating a default starts after one, two, or three missed payments. Once the loan is in default according to the financial agreement documents, the lender has the right to take possession of the car. In most states, once the auto loan falls 90 days behind, the lender may reclaim the car. For specific terms of the loan and any repossession actions, please refer to the financial loan repayment agreement; which is signed by the purchaser of the car.

The lender can pick up the car from any location including: (1) your home, (2) work, or (3) other place where it is being stored. In most states, the lender can take the car without a court order. Although, many state laws specify a car can only be repossessed if the lender can do so without “breaching the peace”. The term “breach of peace” means that the lender is able to obtain possession of the car without any threat to the borrower or use of force. A breach of peace could be as simple as the borrower telling the creditor they will not cooperate. If force or threats are used to gain possession of the car the lender may be liable for any damages caused from the repossession. The lender, at this point, must seek judicial permission. They must document the default and wait for the court to issue permission to repossess the car. Once the court gives permission to repossess the car, the lender will likely request that the local police assist in the repossession. Once the creditor has control of the car they can repair it if they choose before selling the car..

When the lender takes possession, they must give notice to the borrower of their intent to sell the car. At this point the borrower’s only option would be to pay the loan and additional costs associated with repossessing the car in full. If the borrower chooses not to pay the loan and costs prior to the notified date of sale, the car can be sold at auction. If the creditor sells the car for less than the balance of the original loan then they can file a deficiency judgment against the borrower for the difference. In order for the creditor to put a deficiency judgment against the borrower the car must be sold commercially (no private sales).

For a car repossession, or in any legal matter, it is in the best interest of the borrower (defendant) to seek legal counsel.

Are Online Payday Loans Safe?

Payday loans go by many names, including cash advances, bad credit cash advance loans, payday advances, payroll advances, paycheck advances and deferred deposit loans. Whatever you call them, it can’t be argued that they’re helpful as a short term loan until the next time you get paid. When unexpected expenses pop up, like car repair costs, doctor’s bills or other fees, a cash advance can help bridge the gap between paychecks.

Many people are aware of the benefits of payday loans: they’re a fast and easy way to get the cash you need to cover life’s unexpected expenses. But does the same go for online payday loans? Is it safe to apply for an instant cash advance or loan online? Read on to learn how you can safely and securely apply for a fast payday loan online.

So is it safe to apply for online payday loans? Short answer: yes. Long answer: it depends on which company you use. Most online payday loan companies take their data security very seriously because they are invested in their company and if they become known as unreliable or unsafe they will quickly lose all of their business. There is the occasional online loan company that doesn’t take their data security seriously, however.

Here are some tips on how you can ensure your information is safe when applying for an online payday loan:

1. First check the Privacy Policy of any payday lender or broker’s website. (A payday loan broker does not make online cash advance decisions, but instead matches you with a payday advance lender based on your application.) The Privacy Policy should be written clearly and should detail the kind of information they collect and disclose whether they sell or share any personal information about you with third parties.

2. If you have any concerns about site security or the security of your personal information, talk to a customer service representative from the company. Are information databases accessible by all employees or just those with security clearances? What happens to your information after you close your account? Ask any questions you may have and based on their answers you can make your decision. Most websites also have a FAQ (Frequently Asked Questions) section that can answer many of your questions.

3. Once you are happy that the site will not sell your personal information, it’s important to check that the application page is secure as well. Whenever you’re about to transmit sensitive data online, not just for an instant payday loan but for any transaction, there are two things to look for to make sure your transmission will be secure. The first is an added letter “s” after the “http” portion of the internet address line in your browser. The second thing to look for is a yellow padlock symbol at the bottom right side of the screen. Both of these things indicate that your data will be encrypted before it is transmitted to the website, and that it is safe to send your information.

4. Last but not least, a great way to check that your data will be safe is to investigate the online payday loan lender or broker itself. Google their name online or check with the Better Business Bureau to see if they have any customer complaints against them. It’s always a good idea to see what other people like you are saying about the company you’re about to do business with.

Whether you’re ordering a pizza, buying new clothes, or applying for a cash advance online, no matter what kind of business you’re doing online, it’s important to make sure your information is secure. By using the above tips, you can ensure that your online cash advance transaction is safe.

Three Proven Techniques For Car Loan Approval After Bankruptcy

Most consumers associate bankruptcy with reduced credit options. The reason for this is that many people know for a fact that it will be very difficult for them to get good financing deals once they have filed for bankruptcy. How come?

Well, most lenders today tend to shy away from extending credit accounts to consumers who possess bad credit reports, especially those with bankruptcy records. After all, they do not want to take on the huge risk involved in allowing these consumers to assume credit lines.

Still, you have to remember that bankruptcy should not be the end of your credit history. This is because there are a lot of great financing deals that you can take advantage of once you have successfully fixed your bad credit report. But how can you do this?

One way to regain your financial health is to apply for an auto loan. Below we have tackled three proven techniques that you can employ for you to instantly get approved for a car loan. This way, you can have a credit account that you can use to gradually repair your bad credit history.

Three Techniques for Car Loan Approval

1. Know the requirements and guidelines of lenders. Even with a bankruptcy record on your credit file, you can still inquire about the common requisites for different car loan programs. You just need to approach a prospective lender and ask about the guidelines of the auto loans they offer. Then tell him upfront that you have had discharged your debts through bankruptcy and you wish to use a car loan to repair your credit history. Your honesty will surely encourage the prospective lender to come up with a program that will suit your personal and financial situation. And he will surely be glad to assist you regain your credit reputation by approving your application for a car loan.

2. Know your credit standing. Once you have determined the requirements for a car loan, your next step will be to prepare all the necessary documents that you have to submit to your chosen car loan provider. For sure you will be asked to provide the most recent copy of your credit report to your lender. This is why you have to obtain a copy of your credit file from any of the three credit reporting agencies.

After receiving your credit file, scrutinize the entries on your report carefully. See to it that your credit report is free from any errors and inaccuracies that can inflict further damage to your credit standing. If you see one, then file a letter of dispute to the three credit reporting agencies right away. This way, they can immediately investigate your records and eliminate the mistake or incorrect entry that you have observed on your credit file. This will in turn ensure that you will eventually receive a more accurate credit report that you can present to your lender once you have filed your application for a car loan.

3. Consider refinancing. After your application for a car loan has been approved, always look for opportunities to refinance your credit account. In line with this, you have to make sure that you pay all your credit charges on time and in full each month. Eventually you may qualify for lower interest rates and fees which will allow you to repay your car loan in the soonest time possible. And for sure this will help you finally recover your financial health.

Follow these techniques and for sure you can get approved for a car loan that you can use to rebuild your credit history, even after you have filed for bankruptcy

Realize Your Dreams With Fast Cash Loans

Emergencies can completely wreck your financial life especially if you have just lost a job or if you are the sole earning member. If such situations occur, don’t give up. You can certainly overcome the situation with careful planning. If nothing seems to work, you can always go for a quick cash loan. In fact, financial companies came up with the concept of quick cash loans only to provide you instant money to alleviate your financial problems. From health emergencies and prescription costs to car repair and home renovation, quick cash loans can be used for all kinds of financial needs. You can avail of this loan even if you want to go on a shopping spree and can’t wait for your payday. Fast cash loans are known by various names such as instant cash loans, cash advances, or pay day loans. These type of loans are easy to get and do not take much time due to lack of tedious paperwork.

Fast cash loans should be repaid by your next payday or else you are likely to incur heavy late fees. Fast cash loans provide you the much needed money to deal with expenses that cannot wait until the next payday. It therefore makes sense in repaying the loan as soon as you get funds. Extending this loan is possible sometimes though not advisable, as you will end up paying much more unnecessarily to the lender. It is certainly not worth paying this additional amount to the lender, as the loan term would be only marginally extended. So the sooner you pay to your lender, the lesser your outstanding amount will be.

Although quick cash loans are given out without much ado, they can serve only as a stop gap arrangement. This is because the amount you are eligible for is usually not more than $500. This amount is justifiable because the lenders do not bother you with harrowing questions as to why you want this loan. All they do is ask for your personal details, look at your employment status, and provide you the necessary funds in less than twenty four hours. You must not forget that do not ask for any kind of security while giving away a fast cash loan. Naturally, they need to find ways to ensure that they do not run into a loss. They thus place limits on the amount they provide through fast cash loans.

Fast cash loans are also given out to unemployed people and those with bad credit. The risk thus is even greater in case of such people and calls for higher interest rates in their case. To speed up the loan application process, see to it that you apply online. Banks and financial institutions usually respond to your loan application in less than an hour and if your application is approved you can expect money in your account within one business day. Fast cash loans can be an answer to your immediate financial needs. Make sure that you borrow only as much as required and repay it at the earliest so that you do not don’t get into further debt.

Cash In A Snap: Your Emergency Savior

Money is difficult to procure, and bills are everlasting, with numerous monthly expenses to manage. It is no mystery that emergency costs can easily cause upheaval in your finances. Fast Cash loans such as payday loans or cash advance online are a great way to deal with those unexpected bills that would otherwise lead to a problem. These loans are popularly used as short-term loan alternatives to settle unforeseen bills.

Cash In A Snap is a reliable financial services company that can help you obtain the loan you need. Our large network of lenders aim to fund the loans that support you in reaching your short-term financial goals.

Cash In A Snap – Emergency Savior

You may require emergency funding for a car repair, an unexpected medical bill or to close the gap in revenue due to income issues. Whether you need a personal loan, payday loan or installment loan, at Cash In A Snap we can help you connect with our authorized lender network to fund your emergency expenses.

We try to provide you a positive loan experience through:

  • Quick and Convenient Application Process
  • Fast Online Loan Transactions
  • Vast Network of Lenders
  • Secure Online Dealings
  • Bad Credit is No Problem
  • Learning Resources at Your Disposal

Our Range of Financial Services

Cash In A Snap offers fast service for:

  • Next day cash advance
  • Fast cash loans
  • Cash advance online
  • Installment loans

Read more about the types of loan services offered by Cash In A Snap.

Cash Advance Payday Loans

You can choose to apply and get approval for these loans over the internet to conveniently tide over a financial crisis. The quantity of your cash advance is decided on the basis of several factors and differs from state to state.

Emergency Cash Loans

Emergency cash loans can be helpful to survive through the toughest of times, and you are not required to have perfect credit to qualify. You should also be aware of the different kinds of emergency cash loans accessible at Cash In a Snap, including Online Payday Loans, Car Title Loan, and Loan on Tax Refund.

Online Payday Loans

Online payday loans are a category of emergency cash loans that surely help to save you during tough financial situations. If you opt to apply for an online payday loan, you will typically need to provide certain personal details as well as some other information required for your loan processing.

Personal Payday loans

Personal loans are fast, easy means to obtain the funds you want without having to wait weeks for approval. Since personal loans are regarded as unsecured loans, there’s no requirement for any collateral submission and you wouldn’t need to undergo a conventional credit check either!

Payday Loans no Credit-Check

Taking out no credit check payday loans is an easy way to acquire quick cash when you are concerned about having a bad credit score and inadequate fund to get through a predictably short duration. You can qualify for such loans if you have a regular income and are capable of repayment in a matter of a few weeks.

Fax-less Payday loans

Our quick, hassle-free loans save your precious time. You do not need to fax any information as all things are done online. Before you apply, make sure you meet our required criteria for getting financing.

Bad Credit Payday Loans

Bad or no credit check payday loans are short-period loans of smaller denominations to help you in case you suffer a bad credit history in order to get over your unexpected financial crisis. Normally, you can borrow a sum of money based on what you generate through every paycheck.

Achieve goals quicker with smarter loan options from Cash In A Snap. We empower you with benefits that will turn your financial dreams into reality. Apply now through our website to receive the cash you need and we will put our best efforts to quickly match a lender, based on your loan requirements.

Upside Down on Car Loan – Chapter 13 Cram Down Provisions and Chapter 7 Redemption

Clients often find themselves in need of debt relief because of a car loan gone badly.

Modern day society necessitates owning and maintaining an automobile which sometimes evolves into a devastating financial burden. Lenders are quick in financing vehicles knowing borrowers highly prioritize automobile transportation over most other financial obligations. Even borrowers with bad credit are fitted into an automobile financing packages priced at high interest rates to compensate aggressive lenders for the added risk.

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.

Under certain circumstances relief from these devastating financial predicaments can be obtained through a bankruptcy filing.

CHAPTER 13 CRAM DOWN PROVISIONS

Under Chapter 13 of the United States Bankruptcy Code, Debtors are permitted to 'Cram Down' the unsecured portion of their auto loans to the fair market value of the vehicle securing the loan. This requires debtors to pay back only the secured portion of the auto loan, but the unsecured balance is treated as a general unsecured creditors providing substantial benefit for the Debtor, permitting Debtor to only pay a small fraction of the unsecured portion of the auto loan debt that is owed.

As an example, let's suppose our debtor owns a car worth $ 10,000.00 and there is an auto loan with a payoff balance of $ 20,000.00. In this scenario, the loan is only partially secured. The auto lender is secured only to the extent of the value of the vehicle or $ 10,000.00. The remaining $ 10,000.00 balance on the loan is unsecured. In this situation the Bankruptcy Code affords the Debtor the right to cut off the unsecured portion of the auto loan and treat that portion of the loan as unsecured. So, if General Unsecured Creditors were only receiving a dividend of 20%, the auto lender would receive only $ 2,000.00 on its unsecured portion of the auto loan.

These situations become sticky between Debtor and Lender because often disagreements arise as to the correct value of the vehicle. Your bankruptcy attorney will need to negotiate a settlement over the valuation before confirmation of the Debtor's Chapter 13 plan.

Valuation is guided under provisions of the United States Bankruptcy code, specifically 11 US Code § 506 – Determination of Secured Status.

11 USC §506 (a) (2) specifically states:

"If the debtor is an individual in a case under chapter 7 or 13, such value with respect to personal property securing an allowed claim shall be determined based on the replacement value of such property as of the date of the filing of the petition without deduction for costs of sale or marketing. With respect to property acquired for personal, family, or household purposes, replacement value shall mean the price a retail merchant would charge for property of that kind considering the age and condition of the property at the time value is determined "emphasis added

The Cram Down provision under the bankruptcy code also provides for a reduction of the interest rate on the auto loan. Often Debtors find themselves shelling out enormous auto payments used to cover exorbitant interest rates auto lenders often charge to risky borrowers.

An interesting exception was enacted under the 2005 Amendments to the United States Bankruptcy Code prohibiting cram downs where the purchase money auto loan was originated within 910 days (2 ½ years) of the filing date of the Chapter 13 bankruptcy [see 11 USC §1325 ( a) (9)]. Debtors must consider timing of a Chapter 13 filing if they desire to escape the burden of a burdensome auto loan debt. Bankruptcy rules require car loans taken out within 2 ½ years of the bankruptcy filing must be paid as agreed.

CHAPTER 7 REDEMPTION

Cram downs are not permitted under Chapter 7 bankruptcy (or 'straight bankruptcy'). But, Chapter 7 debtors are permitted to 'redeem' personal property under 11 USC §722.

11 USC §722 provides as follows:

"An individual debtor may … redeem tangible personal property intended primarily for personal, family, or household use, from a lien securing a dischargeable consumer debt, if such property is exempted under section 522 of this title or has been abandoned under section 554 of this title, by paying the holder of such lien the amount of the allowed secured claim of such holder that is secured by such lien in full at the time of redemption. " emphasis added

Redemption, however, can be difficult under Chapter 7 because debtors must pay upfront in full a lump sum of cash an amount sufficient to pay the secured portion of the auto loan measured by the fair market value of the vehicle at the time Debtor seeks to redeem the vehicle. Chapter 7 does not permit a restructuring of the loan, but sometimes the auto lender will accept payments over time, but usually within a short term.

CONCLUSION

If your vehicle is worth less than you owe on it, bankruptcy options can be advantageous towards affording you to retain your vehicle and move towards better financial health.

Chapter 13 can reduce or 'cram down' your loan balance and interest rates thus lowering your auto payment making it affordable. Chapter 13 also enables you to restructure past due auto payments and spread them over the term of the Chapter 13 plan so you can afford to catch up the past due payments within your personal financial means.

Chapter 7 bankruptcy does not accommodate restructuring of loan repayments but the §722 redemption provisions allow debtors to purchase their vehicles out of bankruptcy for the fair market value of the vehicle, leaving the unsecured portion of the debt discharged under the Chapter 7 bankruptcy.