Payday Loans for Car repairs. When your bank account has the lowest balance, it seems as though the highest expenses have a way of popping up. Payday loans offer fast cash, which may help you to get any necessary car repairs to help get you back on the road. Unless you live within walking distance of school and/or work, you will need to have a vehicle. Repairs can be very expensive and, if you don't have the cash, you cannot get the service that you need. Payday loans can help you when the road to your next paycheck seems long.
Car rental. Speaking of car repairs, they can sometimes take several days. Depending on what is wrong with your car and whether or not the repair center has the necessary part(s) needed to repair it, you may be in for a wait. If you do not own another automobile, a car rental may be your only option. Ranging from $30.00 to 100.00 per day, the cost of a rental car can add up fast. Payday loans can offer you the cash advance that you need to get you back at work and help you to avoid suffering missed work and lost wages on top of expenses relating to your car repairs.
Doctor & dental visits. Today, many people face every day without having the security of health and/or dental insurance. Although this is a gamble, it is one that many people are forced to take simply because the cost is often unaffordable. When there is an illness or prescription medicine is needed, the expenses can add up quickly. Because most payday loans do not exceed $1,500.00, they can only be sought for help in paying minor medical treatments.
Home repairs. Perhaps you woke up to find water on your floor instead of in the pipes where it belongs. A leak can cause major problems and may require that you replace certain items within your home. Depending on the severity of the leak, you may need to replace your floors or your plumbing altogether. If your roof develops a sudden leak or you need to winterize your home to help keep the cold weather outside where it belongs, you may need some extra money to help perform the necessary home repairs. Payday loans are simply a way of getting a cash advance on your next paycheck and can help to get those much-needed repairs done quickly.
Utilities. If your phone, power or water bill are due and you are short on cash, payday loans can help you to meet the due date and continue to enjoy the necessary utilities that you have come to enjoy.
Overdraft charges. If you made a miscalculation and have since found yourself swimming in a sea of overdraft charges at your bank, it's essential that you correct these quickly in order to return your account to good standing. Payday loans may be able to help in getting these fees cleared up and avoiding the potential problems associated with worthless checks.
Emergency travel. If a family member or friend is ill and you need to be by their side, you may need to make travel arrangements immediately. If you don't have the money available for scheduling a flight or confirming other travel details, the ability to obtain fast cash via payday loans may be the answer you need.
Gasoline. Every day, some people struggle with simply having enough gasoline in their car to get to work. When the money runs out, the gasoline is sure to follow. If you find that you are short on funds and just need a little boost to get you through until the next paycheck rolls in, payday loans may be an option. This is why you may need to consider payday loans
4/30/07
8 Top Reasons Why You May Need Payday Loans
4/27/07
Debt Consolidation Versus Debt Negotiation
Debt consolidation versus debt negotiation are two options that are available to you if you need debt assistance. When your monthly bills become too much for you to handle, it makes sense to use debt consolidation or debt negotiation for solving debt and credit problems.
Debt Consolidation
Debt consolidation services have prearranged debt repayment plans with most credit card and collection companies. When you sign up with a debt consolidation company you are offered a lower overall monthly payment based on a lower interest rate they have arranged with the creditor.
This payment is lower than what the credit card companies offer you, saves you money every month and is often the best way to consolidate debt.
One benefit of a debt consolidation repayment plan is it will stop you from getting harassed by your creditors as long as you make the new, lower monthly payments.
The downside of the debt consolidation repayment plan is that you have to cancel all credit cards that you include in the plan. You are also charged your first payment you make toward the program and an additional monthly administration fee. This administration fee ranges from flat fees of $10-$50, while others charge a $5 fee for each creditor. That means you'll pay about $30 a month that doesn't go to paying off your debts.
The debt consolidation program benefits you if you have high interest rates or have higher credit card bills than you can manage. Some people like to make only one payment to one company for all of their debts.
Debt Negotiation
Debt negotiation is sometimes referred to as debt settlement. This is most often offered to people who can't handle a debt consolidation program. If you can't make the minimum payments of a debt consolidation repayment plan or haven't made payments in the past 3 months, a debt negotiation program is the next step for solving debt and credit problems.
One benefit of a debt negotiation program is you stop making payments to your creditors. The debt negotiation company either takes monthly payments from you and keeps it in an account, or lets you keep the money in your own account.
While you are making these monthly payments to the debt negotiation company, they negotiate with your creditors for a lower payoff of around 40-50% of your total amount of debt. Once the negotiated settlement is agreed upon with your creditors, the debt negotiation company makes a one time payment to them.
A downside of the debt negotiation program is it lowers your credit score for as long as you are in the program. However, most debt negotiation companies require the creditor make the credit report show paid in full so it doesn't show up as a negative on your report once your account is settled.
Some debt negotiation companies include a credit repair service that will remove the negative items caused by the debt negotiation program. You pay for this service as part of their program.
Now that you have an idea what debt consolidation versus debt negotiation is choose which one will work best for solving debt and credit problems for you.
Copyright © 2005 Credit Repair Facts.com All Rights Reserved.
debt consolidation or debt settlement service secrets
First let me say that debt consolidation is *not* the same as debt settlement/negotiation, which most people don't realize.
Debt settlement companies charge hundreds of dollars as an initial "admin fee" to set up your account, plus a monthly service fee. The fees vary depending on the company and the amount of your debts.
Such companies take your money every month, but don't make monthly payments to your creditors! Instead, they put it in a trust account, negotiate your debts with your creditors, then make a lump-sum payment when there's enough in your account to pay a creditor in full.
That can take *years* depending on the amount of debt you have with each creditor. Meanwhile, you can be sued by your creditors and your wages can be garnished! (Or just don't make payments to your creditors. You'll end up in the same spot without paying someone to help you get there!)
Settlement companies don't ask your creditors to stop all interest, late fees and overlimit fees from accruing. That means while the negotiations are ongoing, your bills will continue to grow! So if you're sued and a judgement is brought against you, you'll owe more money than before!
And shoddy companies, which there are alot of, don't tell you *any* of this up front. I call it "getting permission by ommission" because they simply don't tell you how their program works *before* you sign an agreement with them. Or after, for that matter. But if you ask the right questions, eventually you'll figure it out. (Or when the crap hits the fan. Whichever comes first.)
Let me give you an example of how debt settlement works.
Let's say you have $20,000 in unsecured credit card debt. You owe $10,000 to one credit card company, $6,000 to another and $4,000 to a third. You agree to a 5 year plan where you pay $250 a month to the settlement company. (After all, $250 a month for 60 months is only $15,000, so you're saving $5,000 and you'll be debt-free in 5 years, right?)
The admin fee will cost you $750. Your first 3 monthly payments go towards that and nothing gets put into your trust account until your 4th month.
The settlement company keeps $50 of your $250 payment each month for the service fee. That means $200 a month is being added to your trust account.
Most debt settlement companies claim to be able to negotiate your debt for about 50% of what you owe. So let's use the lowest credit card debt as an example.
If you owe $4,000 and your creditor agrees to accept $2,000 as payment in full, it will take 10 months at $200 per month to have enough in your trust account to pay off just that one credit card.
But remember, your first 3 payments to the settlement company only paid the admin fee. That means your first credit card settlement is 14 months *after* you started sending them money.
So what's the problem? It's simple. Your creditor won't agree to accept half of your actual debt unless, or until, it can be paid in full. Otherwise, you're expected to make your normal monthly payments.
Since you don't have $2,000 in your trust account, and you won't have it until more than a year after you stopped paying your creditor directly, they'll probably take you to court and request that your wages be garnished long before you have that $2,000 built up.
And what about your other creditors? Well, they'll be waiting even longer to get their money from the settlement company. The $6,000 debt will take 15 *more* months to pay off, assuming your creditor waits that long and agrees to 50%. And that $10,000 bill? You do the math.
On the other hand, if you signed up for a 3 year plan with the settlement company, your debts would be paid off sooner. But, the question is, will your creditors wait that long? Probably not.
The facts are, you can negotiate with your creditors yourself. Most will agree to take a smaller monthly payment from you and stop all interest and fees from accruing. And, of course, you'll save thousands of dollars in fees to a settlement company.
Before signing up for any service, please be sure you check out the company thoroughly. And don't let the words "non-profit" fool you either. Alot of debt settlement companies claim to be non-profit.
Going back to the example above, if you pay them $15,000 over a 5 year time frame and they settle your debts at half of what you owed, they'll make $5,000 from you. I'd call that a profit, especially since they might not have actually helped you in any way.
Most companies will allow you to cancel your account and get a refund of what you've paid, less the non-refundable admin fee and the monthly service fees. If you feel you've been mislead about their program, don't hesitate to argue til the cows come home. File a complaint with the Better Business Bureau or hire an attorney if you feel you're getting nowhere.
You can visit the Better Business Bureau's website (http://www.bbb.org) and find reports on hundreds of companies. Here's a small listing of companies that have poor reputations with the BBB:
National Consumer Debt Council LLC - Irvine, CA (A.K.A. NCDC, United Consumer Law Group)
Financial Rescue Services - Burbank, CA
Debt Legal Services - Anaheim, CA
American Debt Relief - Los Angeles, CA (A.K.A. A M Debt, American Debts Relief, Debt Relief)
Please be very cautious when choosing a debt help company and ask lots of questions before agreeing to anything. If you find they're evading your questions, run fast and run far. There are reputable companies out there, so keep looking until you find one.
4/26/07
Payday Loans and Your Credit
Every day, people struggle with finances and often a little help is all that's needed to get them back on track until their next paycheck. For some, payday loans may be the answer. Because they often require no credit check, payday loans are ideal for those with little or no credit history. At the same time, they are perfect for someone who may have had credit problems in the past.
Instead of credit, payday lenders are more concerned with your current ability to repay a debt. This means that they will verify your employment and income, but will not typically pull your credit report. In addition, payday loans are not commonly reported to credit bureaus, which means they will not show up on your credit report. If you have concerns about future lenders knowing that you once applied for payday loans, you will be glad to know that it is unlikely.
Although payday loans are not issued based on credit, nor will they commonly appear on credit reports, they must be repaid as any other loan. Because they offer fast cash with very little qualifying, with the exception of steady employment, payday loans do not come cheap. Most lenders will apply fees based on the loan amount and may range from $10.00 to $30.00 per $100.00 loaned. For instance, if you borrow $1,500.00 in payday loans, you may be paying between $150.00 and $450.00 in fees plus the original loan amount. If you request that the loan be extended, and the lender agrees, these fees will continue to roll over as well.
If you would like to access your credit report, you are entitled to request a free copy from each of the three credit reporting agencies on an annual basis. You can either submit your request online, by phone or in writing. In addition, if you are turned down for credit, you will be given a letter of explanation from the lender containing a reason for their decision. The letter will also contain the contact information from the credit reporting agency, which was used during the decision making process. You will have approximately 60 days from the date of the letter to request a free copy of your credit report from the agency listed.
Payday loans are designed to be a short-term fix to a temporary problem. In most cases, they are used when unexpected events arise or the borrower simply falls a little short on cash. Although their fees can be high, they provide many with the instant relief that they so desperately need. When it becomes impossible to wait for the next paycheck to buy groceries, see a doctor or even have your car repaired, payday loans can give you access to quick cash as a quick fix to a temporary financial slump.
4/21/07
Home Based Businesses That Work
If the salary is not commensurate to the work being done, perhaps the person is better off working for oneself.
This is how most home-based businesses begin. This may be related to the previous occupation or simply something that the entrepreneur has been thinking about but has never had time to explore. According to one survey, here are some great ideas worth venturing into.
Men who love to work with tools can start a home-based renovation service. The profit margins are very appealing and with proper planning, both parties will be able to benefit from the deal.
If most of the neighbors have pets, instead of letting the owners go to the store to buy it, perhaps ordering this bulk and selling it is a good idea. It is also possible to create toys and other accessories. These can be picked up in the house or delivered to the customer’s doorstep and given to the pet.
Those who love to cook can start a catering service. It does not have to be anything fancy. The entrepreneur can start small by hosting small events at first and then when enough money has been made, perhaps it is time to expand and join others in the industry.
Anyone wants to clean up? A lot of people don’t like to get the hands dirty but in the end, someone has to do it. Another great home-based business idea is to open a cleaning business. The entrepreneur can clean household and charge by square foot. When the business is doing better, people can be hired so that work can even be done in offices.
Accidents happen everyday especially when the kids are playing around the house. The engineer can develop safety devices such as special locks and barriers to protect everyone at home. The same thing can be done for the car or the office so serious injuries can be avoided.
People who are very meticulous are great as wedding coordinators. These people didn’t have to go to school to become one. Perhaps getting married and seeing the challenges has helped the individual decide to venture into this endeavor so mistakes that were encountered can be avoided in the future.
Health professionals have the best bodies. Another great home-based business is by becoming a fitness trainer. A lot of actors and celebrities hire this specialist to get the body ready for an upcoming movie while those that don’t want to go to the gym can also get the same services.
Women frequently go to the beauty salon to look good. Those who have the same skills can start a home-based business servicing the client. It pays to advertise so the entrepreneur can start with friends and neighbors first then do house calls.
Another thing women love to do is party. This means wearing a different outfit every time and going to the mall. This doesn’t have to happen if the person knows how to make one using the various fabrics. Eventually, the entrepreneur will have a collection and even sell these to nearby department stores and make more money.
There are other home-based business ideas to play around with. The entrepreneur can try those that work or take another path and do whatever it takes in order to succeed.
4/10/07
3 things to making money opportunities
While a quick Google search for business opportunities will return thousands of results, the key lies in being able to sort through the mess and find high quality legitimate business opportunities that provide real ways to make extra income. Unfortunately, the ease of starting a home based business and the huge demand makes this market prime target for scammers interested only in taking your money. With that being said, there are many good legitimate opportunities out there.
There are three things to consider when evaluating home business opportunities on the Internet.
Product Or Service
Every business needs to sell something in order to make money. When considering a home based business ask yourself what is being sold. Be very careful when it is difficult to tell. Many online business opportunities involve affiliate marketing. This is where you are promoting someone else's product or service for a commission or flat referral fee. This is a great way to make money on the world wide web.
Is Company Accessible
The problem with doing business on the Internet is that you often don't know who you are doing business with. Many people have sent their money to an unknown web site only to never receive anything in return. The best way to determine if there is a real person behind the offer is first to see if they publish their contact information on the web site. Then it is recommended that you inquire with some questions about the offer. Pay attention to how long it takes to receive a response and if you receive a response at all. If they do not respond to your questions before the sale there is a good chance there will not be much service after they have your money.
Is There A Market For The Product
Finally, consider whether there is a market for the product or service you will be selling. This means will there be people interested in buying it. A good way to determine this is to simply do some research to find out if there are other people promoting the same products or services. Competition can actually be a good thing and is often proof that there is demand for a product or service.
Review business opportunities carefully before making a commitment and you will likely find a number of ways to make money online and success may be just around the corner.
4/1/07
Can Talking To A Finance Professional Really Improve Your Finances?
That is why financial advisors are very useful things to have, since not all of us are equipped to deal with matters concerning finances. The reality is that our finances have to be dealt with.
Mind you, sometimes a financial advisor will be of the 'old school', and if you are an entrepreneurial type, he or she will go up the wall if you put risky schemes to them.
I know, my old financial adviser once told me my acceptance of risk was so high I was half way up the Eiger!
Three life changing events drive the majority of people to seek professional financial advice, according to a study done by the Certified Financial Planner Board of standards -
Namely:
1) Handling an inheritance (72%);
2) Facing a complex investment product (61%); and
3) Making portfolio/401(k) investment choices (52%).
Amazingly many people do actually seek professional financial advice, as they have realized how much easier it becomes to handle financial issues.
Before seeking professional help, you should ask yourself how much money you have and how complex your financial situation is.
If you find that your financial situation isn't all that complex, you might want to reconsider talking to a professional financial advisor.
You wont get advice from a financial professional for free, so you should avoid consulting one unless necessary.
However, timely and correct advice even for a fee can be worth more than its weight in gold.
Remember though - Free advice is just that - Free.
In situations that only require you to do a little bit of research on your own, you are probably better off avoiding the financial professional.
You should instead determine what you need to know, research that topic, and then make an informed decision based on your work and your financial needs.
Alternatively, if you are in a serious financial quagmire, getting professional advice might be the best thing you can do to get back on track. You will find it a liberating experience to finally understand all this financial jargon. And it could then help you to better understand and handle your finances.
As Benjamin Franklin once put it: If a man empties his purse into his head, no one can take it from him.
Geoff Morris has been investigating the role of Financial Advisors on the web. Visit Financial Assist to see over twenty different sources
Plan Retirement Early!
The first plan is to plan for retirement. The second plan is to plan to retire way before the age of retirement. This is because in case the second plan fails, I still have the first plan to fall back to. In the worst scenario, I will gain financial freedom at the retirement age.
In order to implement the first plan, I need to embark on the journey to research on retirement planning. After studying and reading a lot on retirement planning, I realize that retirement planning should be done as early as possible in my life. Why?
Firstly, I can capitalize more on the compounding interest of investment return. If I invest early in my life, then my investment has more time to grow. This advantage is gone if I have only invested near my retirement age.
For example, let assume the rate of investment return is 5 percent per annum and my retirement age is 60 years old. If I invest at the age of 30 years old, then my investment has 30 years to grow at the compounding interest rate of 5 percent per annum. If I have invested at the age of 55 years old, then my investment has only 5 years to grow at the compounding interest rate of 5 percent per annum. Of course, I will gain more if I have invested at the age of 30 years old.
Secondly, I can afford to make mistakes in my investment and recover from my mistakes. When I learn to invest initially, I will definitely make mistakes here and there. Because I start to learn to invest at a younger age, I have more time to learn and recover from my mistakes. Learning form mistakes is the key to accumulate wealth based on my understanding of the Rich Dad's series by Robert Kiyosaki.
For example, if I have made a mistake in investment that result in a loss of $10,000 at the age of 30 years old, I still can earn back the money. But if I have made the same mistake at the age of 60 years, I may not be employable to earn back the lost amount.
Even if I decide to hire a financial planner to help me, it is still my responsibility to know enough about investment so that I do not hire the wrong guy. This knowledge cannot be gained through purely reading. Some kind of practical experience is required to understand more about investments to enable one to decide on the proposed solution given by the financial planner.
Thirdly, I can be more aggressive in my investment. That is I can put my money into more risky investments. More risks usually mean better return on investment. But that may not be always true. If I can manage the risks well, I can get better return on risky investment.
For example, I can invest in currency. That is provided that I know how to manage the high risks in currency investment. Even if I have all the necessary risk management in place, there is still a possibility that the investment still goes wrong due to unforeseen circumstances. In which case, I have time to recover from the loss.
Then, I can invest in long-term investments. This is not possible if I invest near retirement age. At near retirement age, I should only be investing in assets that give me cash or near cash, as I will need the money to support my retirement lifestyle. In fact, most of my investments should be converted to the type that can give me regular income near my retirement age.
For example, it maybe impractical for me to invest in a property and hoping that it will appreciate. A property may take quite a number of years to appreciate to a substantial amount. In other words, I should not be looking for investments that give capital appreciation. I should be focusing on investments that give me regular income such as annuity.
Even though that it is good to plan for retirement early, it is important that I have addressed the more urgent needs first. I should have already planned and insured properly so that I will not face a financial disaster due any unexpected accidents or illness or any other events. Also, I should have already set aside an emergency fund equivalent to 3 to 6 months of monthly expenditure. In this way, I should be able to survive till my retirement age to see the fruits of my retirement plan.
* DISCLAIMER *
The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.
Article
Source: ABC Article Directory Max Ng helps people who desire success to learn from his mistakes and realizations by sharing his personal struggle for success at www.richdadsecrets4me.com. He is the author of "Your Greatest Gift! Why Waste It?" at www.yourgreatestgift.com
Financial Planners - Good Ones Earn Their Pay
Unfortunately, a minority of financial planners have given the whole profession a bad name, mostly by recommending investment products based more on the commission that the planner receives than their appropriateness for individual clients.
The ease with which one can trade online and the abundance of free investment information available on the internet have caused some people to feel that they don't need financial planners, but while hiring a financial planner may not be the right move for every investor, a good financial planner can be worth far more than you ever pay him or her.
The key is finding the right financial planner.
What is a Financial Planner?
Typically, a financial planner (also sometimes known as a "financial advisor") is someone who is licensed to sell stocks and other securities (bonds, mutual funds, etc.), as well as insurance products. Some financial planners may even be able to give tax or legal advice.
One major distinction among financial planners is how they're paid. There are fee-based financial planners and commission-based financial planners. For high-net worth investors, fee-based planners are probably the best fit.
This is because you'll never have to worry about your planner steering you into an investment solely to line his pockets with a fat commission check - he is paid to give you advice, not based on what you actually buy or sell.
If your financial planner's advice doesn't pan out over the long run, you're unlikely to stay with him.
This doesn't mean that commission-based planners are all bad. Few financial planners are able to build a fee-based clientele directly out of college - they have to earn their stripes, as it is said.
The best commission-based planners usually graduate to fee-based advisory, but in doing so, they may be pressured by management to leave their lower net-worth clients behind. Truly professional financial planners will always do whatever they can to accommodate the needs of their existing clients, even if their assets are modest.
After all, financial planners, like doctors and lawyers, have a duty to those whom they serve, not to their employers. When you are the client of a financial planner, you are his or her real boss.
Evaluating Client Needs - The Foundation of Financial Planning
Perhaps the greatest benefit of hiring a professional planner is that he or she has experience evaluating the needs of various types of investors. It's sometimes hard for us to sit back and evaluate ourselves - and, of course, we may not know all of the investment products and tax strategies that a trained financial professional works with on a daily basis.
Financial planners can take a look at their clients' financial well-being, goals, and risk tolerance, in order to develop a truly comprehensive financial plan, that goes well beyond "buy, sell, or hold."
For starters, your financial planner may recommend a given asset allocation. Financial advisors tend to recommend that younger people have a greater percentage of their portfolios in equities (stocks), whereas older folks concentrate more on fixed-income securities (bonds).
The logic behind this is that young people can afford to take more risks - over the long term, the stock market generally outperforms the bond market. But for older people, what if the stock market crashes the day before they're set to retire?
They don't have the time for the market to "correct itself" that younger people do, so this is why financial planners generally recommend that people begin slowly moving out of stocks and into bonds as they age.
But this is just a simplified case. Perhaps your needs are a little out of the ordinary. Perhaps you haven't saved enough for retirement. A good planner will recognize this and recommend that you're aggressive with your investments, even in older age.
Maybe you're young, but you have an incredibly weak stomach. You like to play it by the book, and everything you read says you should be heavily in stocks, but a good financial planner will steer you toward big cap blue chips with a healthy dose of fixed-income, and your stomach will thank him for it.
The key is that experienced financial planners have seen other clients in similar situations, and yet they are able to zero in on your unique needs. This type of financial professional is worth every penny that you pay him, because he measures his success by your success.
Article Source:
ABC Article Directory William Smith the author provides much more financial information on many subjects as well as the secret to his success in the market along with 5 Free power stock picks emailed daily so grab your Free subscription on his website at Financial Planners (Allis Free)