Tag Archives: Lenders

Should you take out an Income Cash Advance?

Many finance firms are wiling to offer a sum of $1000 to those in need of a short term loan, provided the beneficiary has a provable source of income and agrees to repay the amount as per the firm’s outlined repayment schedule. However, needless to say that you would end up repaying more than you acquire from the cash advance firm. This is because the cash advance firm is likely to charge an interest on such credit lending.

Getting hold of a $500 cash advance won’t be easy by any means. You would have to carry out a preliminary research of reputable cash advance firms willing to lend $1000. Though it’s easy to find cash advance of around $250 to $500, you might have to shop around a bit in order to bag $1000. It is recommended to keep several options open during your quest for a cash advance. This way, if one cash advance firm leaves you high and dry, you could easily switch to another.

Sums of $1000 and below are considered trifling amounts by bigger loan firms’ standards. Therefore, it is highly unlikely to acquire a $1000 loan from a loan firm. However, cash advance firms are a viable option for people in urgent need of around $1000. Cash advance firms would gladly approve your application, provided you have a provable income source. But, cash advance companies normally charge a higher rate of interest relative to bigger loan firms.

All in all, cash advance is a nice and quick way to acquire that much needed cash in a jiffy. But since the rate of interest is on the higher side, it’s best to take up a loan from a loan firm, if possible. In general, you should turn to a cash advance firm only when you have no other means of acquiring cash.

If you live in  the UK , see what the most common types of household units are and what they like to spend their money on.  Learn more about the basics by checking out our infographic.

QuickQuid provided me with this Infographic and they’re one of UK’s premier, short-term cash lenders.

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How to Prepare Yourself for a Potentially Really Brutal Debt Ceiling Fight in 2013

Money is such an emotionally charged topic that many people try and avoid it until it really matters. Inevitably, many of us will have to deal with our piling debt. One solution for dealing with it all is debt settlement.

Here are another ten useful tips by Consolidated Credit that could keep you from getting saddled by credit debt in the coming year.

1.     Reduce Interest Rates If Possible

Almost every student loan lender has some kind of interest rate discount for people who set up direct deposit. The discounts are usually not huge, but they can help you save a lot of money in the long run. It would also be good to check with the lender to see if they have any other interest rate deductions. Lenders are often able to reduce the interest rates based on factors like having a high credit score or having a history of on-time payments and even if they cannot, it doesn’t hurt to double check.

2.     Loan Consolidation

In some cases, loan consolidations can be real life savers. A person can also reduce interest rates with loan consolidation. A person will need to pay close attention to the effect it will have on all the loans.

3.     Bigger Payments

It does sound obvious, but it still deserves attention. Sure, the easiest way to pay off a loan faster is to simply pay more each month. But how much more should a person pay? And will the lender accept the increased payments? These are important questions that need to be answered.

4.     Earn More To Pay Back The Loan

Of course, it’s hard to make larger payments towards a loan if you don’t have additional money in the first place. Taking up a second job is the best way to earn extra cash that can then go towards paying off the loan.

5.     Budget Better

To budget your expenses is always going to help in the end. Make a monthly budget and try not to over- spend. Your budget will be the one thing that will help guide your way towards paying off the loan faster.

6.     Save Money

It is extremely important that you save money. Without proper savings, you will definitely find it harder to pay off your loans or credit debt.  To accomplish this, it will help to save money in every aspect of your life, from going to the grocery store to visiting restaurants on weekends. Consider carefully the price of every item you purchase and ask yourself if you really need it.

7.     Give Yourself A Goal

If additional income is not being generated, it is okay to compensate by putting monthly expenses like utility and grocery bills on the credit card. But make sure to make your monthly payments on time to avoid credit debt.

8. Be Realistic

The worst way anyone can unknowingly sabotage their own debt-free goals is by considering themselves to be perfect and trying to accomplish difficult outcomes in short time periods. When you set unrealistic expectations for yourself, chances are you will fall short and be disappointed

9. Track Your Spending

One solution is to track your spending. If you use a proper spending plan (aka budget), it will help you make frugal choices. To be successful with your goal, you’ll need to act based on the budget you find yourself on.

10.  Understand Your Interest Rates

Most of us have taken out loans at some point in our lives but we often neglect to understand how the interest rates work. Whether your debt consists of student loans, credit cards, an auto loan, a mortgage, or all of the above, devote some time to reading the fine print on your statements so that you understand exactly what you’re paying each month and why. One solution is to identify the loan with the highest interest rate and put it in your cross hairs first.

Conclusion

Inevitably, many of us will have to deal with our piling debt. One solution for dealing with it all is debt settlement. These practical ways should help to evade or at least cushion the fall. Otherwise, the muscular debt ceiling is sure to slice us all from dimple to duodenum.

Author’s Bio:

This article is composed by Elaine McPartland who is associated with “Consolidated Credit” as their community writer. She has an expertise in writing articles related to debt consolidation and how to pay off debts easily and smoothly. You can add her at her google+ profile

Editions TV Show Looks at 4 Reasons to Buy a Second Home

Right now, the real estate market is considered a buyers market.  Over the last few years, home prices have fallen dramatically in most major markets, and interest rates on home loans are the lowest on record.  Both of these reasons makes it a really good time to buy real estate. You can find amazing country houses for sale.  However, what if you already own a home?  Should you buy a second home?

Editions TV with Terry Bradshaw looks at some major reasons why now is the time to consider buying a second home.  For many people, they go to the same few places all the time on vacation, and this can be a great reason to buy a second home.  But what other factors are there to consider?  What should you know?  Here are some of the key things to think about when considering buying a second home.

The Financial Implications

The first thing to consider about getting a second home is the financial implications of it.  As mentioned earlier, right now, home prices and interest rates are both very low.  This can make it financially easier to buy a home than it would have been in the past.   However, as Editions TV show points out, it can be incredibly difficult to get a loan right now.

Lenders are being very strict with who they lend to.  In order to get a loan on a primary residence, not even a second home, borrowers have to have impeccable credit, with very high credit scores.  As such, you may have to put much more down on a second home, or even pay all cash.  However, since prices are low, this can be a good investment.

 Editions TV on Family

Family is important to most people.  And having a comfortable place for everyone in the family to get together at is very important.  Having a second home can also be a second home for the entire family.  This can be a place where birthdays and reunions happen, or even fun family events like Thanksgiving or Christmas.  When you have a second home, it is more than just a place, it can be a meeting place for the whole family, who can hopefully enjoy it for years to come.

A Home Away From Home

Plus, having a second home can be a home away from home for you.  Instead of staying in a hotel, staying in a second home should be much more comfortable.  With a second home, you can decorate it exactly how you would want to.  You can furnish it with your belongings, and put up your family pictures.  That way, when you stay at your second home, it is just like being at your primary house.  That really makes it a much more comfortable place to stay than just any lodge or rental house.

Plus, when you have your own home, you can cook and have all the amenities that you’re used to having.  This can make it much more comfortable than a hotel room or something similar, and can be great if you plan on having family over.

Making It A Smart Investment

Finally, Editions TV with Terry Bradshaw believes that you can make getting a second home a smart investment.  First, if you travel a lot, look at how much you spend on hotels and lodging for the year.  Then, look at what the cost of a second home would be?  If they are close, why not invest in a second home that would probably provide you with more amenities that you would normally get while you’re traveling.

Second, a second home can be a good source of income when you’re not using it.  If you are thinking about getting a second home in a tourist area, you can leverage that home to be a vacation rental when you’re not using it.  There are many vacation rental firms out there, and they can handle the logistics of it while you just enjoy getting a paycheck when you’re not there.  And when you want to stay there?  You just let them know.

What is Peer to Peer Lending?

If you spend a lot of time on the internet, especially researching various financial investments, you’ve probably come across the term peer to peer lending. You may also have seen it referred to as P2P lending. Furthermore the phrase ‘peer to peer’ can often be changed to ‘person to person’. This is because money is lent from one person to another.

Does peer to peer lending have advantages over other forms of lending?

Yes it does, and this applies to both the lender and the borrower. If you need to borrow some cash and you have been turned down by your bank, peer to peer lending offers another alternative that completely cuts out the banking system.

In terms of the borrower, there is an opportunity to lend money in favor of specific loans. The benefits here are that you have the chance to earn a far higher rate of interest than you’d get if you were to invest your money in the average bank account.

Surely there are risks?

There are risks, just as there are with most other forms of investments. It’s worth remembering that owing to the increased degree of rewards typically involved, there is also an increased degree of risk.

However this risk can be mitigated in some ways. For instance let’s suppose you have a conservative $200 to invest. Instead of piling it all into one loan, you could split it into eight different $25 loans. If you were to earn, say, an 8% return on seven of the eight loans while losing out on the remaining one, you would do better than you would if you had invested all $200 in one loan that didn’t pay back.

What are the main peer to peer lenders in the US today?

There are two major players worth investigating more closely. The first is called Prosper, which states that it provides seasoned returns of approximately 10.02%. The second is Lending Club, which boasts “twenty consecutive quarters of positive returns”, according to its website. We’ve written an in depth review of Lending Club at http://everythingfinanceblog.com/lending-club-a-review.html.

Investigate fully and understand what you are investing in

As with all types of investments, it is important to make sure you understand exactly what you are getting into before you invest anything in a peer to peer lending situation. You should be well aware of the inherent risks and make sure you have a balanced portfolio to mitigate the risks, as mentioned above.

Peer to peer lending may not suit everyone, but there is certainly a market for it. If you are looking for a different way to invest that puts you in control of the specific opportunities you are investing in, this could be worth a closer look. Furthermore it gives you the opportunity to help individual people find the funds they are looking for. So it might just be the 21st century way of investing, with a bright future attached to it. We will be watching closely.