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Debt Management

Do you need a debt consolidation attorney?

Debt consolidation is a process by which you can take one loan to pay off multiple debts. Debt consolidation loans help borrowers in two ways. Firstly, the rate of interest on the consolidated loan is much lower than that of the accumulated rate of interest on their multiple debts. Secondly, by bringing all the debts together, this program helps borrowers to keep track of all their debts in an easier fashion.

Once a borrower signs up for such a program, the debt specialists start negotiating rates with creditors. Needless to mention, this option is primarily availed by borrowers who are facing some financial hardship owing to which they find it difficult to make their repayments on time. A debt consolidation lawyer assumes a very important role in the entire procedure. You cannot really expect your creditors to be driven by the best of your interests in mind in the whole negotiation process. It is the debt consolidation attorney who will be focused on reducing your debts as much as possible. Given below are a few reasons why you should consider roping in a debt negotiation attorney.

Reasons for getting in touch with a debt consolidation attorney

The collection agencies are quite experienced when it comes to negotiating settlements. All the year round, these collection agencies speak to hundreds of customers who are not able to repay their loans on time. So, it is very difficult to make them bend when they are negotiating.  However, the scenario becomes quite different with a debt negotiation attorney by your side. When these collection agencies carry on discussions with the attorneys they are fully aware of the fact that they need to take the matter more seriously and as such they are bound to offer you the flexibility that you deserve as a borrower.

Please remember that negotiations can get quite intense and stressful. This will definitely hurt the overall quality of your life. A lawyer can prevent this from happening as they have the knowledge of the loopholes of the collection agencies (which laymen, in general do not have). They will apply their high pressure tactics without fail in order to ensure that your rights as a consumer are not flouted.

Choose an attorney wisely

Please ensure that you are selecting the attorney wisely. Choose an individual like Alex Spiro, or a company with accreditation to the Chamber of Commerce (USA). The accreditation implies that the company is a legitimate one and will work keeping the best of your interests in view.

Debt Management

Pay Off Unexpected Bills With Great Short-Term Loans

No one can foresee when a vehicle might break down, a major appliance might require an expensive service call, or a personal injury might leave you in the hospital unable to work, but an online lender can help you make it through. Today, people faced with unexpected bills can seek fast, short term loans from great online organizations. Having access to loans from a reputable, honest, and fast-acting small loan company can ease the burden of everyday expenses and give your household much more flexibility.

Rapid loans fall into three basic types: single pay loans, flex-pay installment loans, and lines of credit. Different rules regulate each kind, but new customers who satisfy all lending requirements can typically expect to obtain quick loans ranging from $200 to $500. Customers can apply for any of these loans very simply as long as they are at least 18 years of age and areUS citizens with a verified bank account and an active source of income. Once you qualify, you can often see your money quickly; the better companies process online loan applications very rapidly. In some situations, approval occurs within twenty minutes and customers can see their money within 24 hours.

Bills

Of course, consumers need to remember some important issues before borrowing from just any company. Not all short-term lenders provide the same levels of caring, professional customer service, nor do they all obey lending lawsparticular to their state. It’s essential to thoroughly check out any company before seeking a short-term loan, only use firms that support responsible consumer borrowing.

Seek a company that takes great pride in providing prompt, courteous, and responsible service to its clients. Look for those that offer generous credit limits (up to $1,000) to customers, regardless of their credit histories. An online lender should also provide flexible pay back options, ensuring that their terms and rates are easy to understand. Check if the loan company ranks among the fastest growing state licensed lenders in the United States, since this is often a sign of excellent customer service.

Another important thing you should consider before you sign any contract is security. Find a lender that takes precautions to protect your financial privacy. Your lender should make certain that it keeps pace with advances in computer technology by maintaining an emphasis on online security. Responsible lenders use secure socket layer (SSL) encryption, firewalls, verified site certificates, and advanced security software in order to prevent unauthorized breaches and protect your personal information.

After some research, you’ll find that MoneyKey offers state-of-the-art security for all of its clients, while also encouraging responsible lending habits. As a licensed online direct lender they are accountable, providing services in accordance with state rules and regulations. Check out Moneykey.com/direct-lenders-online.php to find out more about whyMoneyKey is a leading direct lender.

Once you establish a great relationship with your online lender, you’ll rest easy knowing you’re more prepared for any unforeseen expenses. Get back on your feet with short-term, small dollar loans and the unexpected won’t be so stressful.

Debt Management

Tips When Applying for Personal Loan

When a person is seeking to apply for a personal loan they can be doing so for various reasons. It could be for something like starting up a business, which requires a lump sum of cash; this is one of the main reasons that people apply for a loan. When it comes to starting a business, a personal loan will most certainly help a business to get off to a good start. Besides starting of a business, there are other reasons that people apply for personal loans as well, such as utility bills, medical bills, etc. These situations could be an emergency or just something that money is needed for until you receive your next paycheck.

“Today it’s more important than ever to plan your finances out each month” explains Ori Tal.  He writes on various websites on the Internet including his Ori Tal Tumblr.com account.

Bank or Institution

When people apply for personal loans, they usually do so through a bank or an institution. There are plenty of financial institutions and banks that are ready and willing to loan you the money that you need, provided you meet the criteria necessary to be approved for the loan. Generally there is more than one category of options to choose from when applying for a personal loan, depending upon your reason for doing so. The amount of money that you make, your job, and your credit score, all play a huge role as to whether or not you will be approved for the personal loan.

Bad Credit Score

Many people who have bad credit are deterred from applying for a personal loan because they feel like they won’t be able to get approved anywhere. It was tougher a few years back for people with bad credit to get approved for a personal loan, but not so much anymore. There are numerous lenders that loan money who and willing to help those with bad credit as well. One thing that you will have to keep in mind however that is the lower your credit score is, the tougher it will be for you to find a lender. You should also realize the lower your credit score is, the higher your interest rates will be.  

Short Term Personal Loans

A popular product is a short term loan which general deals with smaller amounts ranging from $100 to $1,500.  These specific loans often times require no credit checks.  The requirements are generally all the same and you must be at least 18 years of age, employment, valid checking account and have direct deposit of your paychecks.  These loans can carry very high interest rates but can help are a great alternative to those with bad credit.  

Debt Management

Paying Off Debt (With Kids!)

My husband and I are heads of that happy family-of-four you often read about. A seven-year-old little girl, and a five-year-old little boy. We live in a modest home with a shared bedroom for the two kiddos and only one bathroom for the four of us. Both my husband and I work full-time – I just started again now that both kids are in school.

Picture-perfect from the outside, including the financial choices: modest home, used car, public schools, thrift-store shopping.

And yet, on the inside: we’re in debt. Man-oh-man (as my five-year-old would say) are we in debt.

How’d we get that way? For starters, we had two kids. My beautiful daughter will turn eight years old in November and we have yet to pay off her birth. Yes, we had insurance, but I had one of those complicated pregnancies you can’t predict. C-sections cost over $50,000, and even good insurance often only pays half of that. My son’s birth was less complicated, but I was not a good candidate for a VBAC, so we had another c-section and another round of bills.

My husband and I had been very careful, avoiding all credit-card debt and working to pay down our respective student loans. We just didn’t know. Where on the OB-GYN’s wall does it say that having a baby costs as much as buying a new car?

So we started paying things off, bit by bit. But life happened. You know the funny thing about trying to throw all your disposable money at a hospital bill is that you suddenly need a new washer but you don’t have any cash left in your checking account, so you put it on credit… you get the idea.

Right now my husband and I have a combined $57,378 still on our student loans and a frightening $82,491 in consumer and medical debt. (My daughter has some lingering health problems that result in expensive hospital treatments and prescriptions. We are all hoping the Affordable Care Act will reduce this burden.)

It’s frustrating because we’re doing everything “right” and it feels like we can’t get ahead. Every time I make a budget, something gets in the way. It’s also much harder to distinguish between wants and needs now that they’re both in school: am I really going to be the only mom who doesn’t let her kid go on the field trip? The only mom who doesn’t put the kid in Scouts and then let her go on the Scout overnight? The mom who crosses her fingers and ignores the life insurance guide, or who squeezes her five-year-old into a car seat that’s a little too small? Absolutely not.

(Also, while we’re at it: what’s up with parents having to take on the entire cost of school supplies? I’m happy to buy pencils for my kids, but their school also requires us to buy copy paper for the school office, as well as bulk cartons of toilet paper for the school bathrooms.)

This year, we’re starting to fight back. My son is still a little too young to get it, but I’ve started talking to my daughter about saving money and not buying everything you see. We’re reading Little House on the Prairie and Five Little Peppers before bed, and she’s still young enough to think that not buying Hostess cupcakes for lunchboxes is “like Laura and Mary.”

I organized a clothing exchange and a toy exchange with a group of moms, meaning it looks like we’ll be able to outfit our kids pretty well for free. I’ve started packing everyone’s lunches in one go – Mom, Dad, and kids alike each get a peanut butter sandwich, some fruit, and a little baggie of cheese and crackers. Cable is out, libraries are in, our life insurance plan from SILI stays in the picture because we couldn’t survive as a one-salary family, our “winter vacation” is going to be a staycation and both sets of grandparents can come visit us for a change.

We started this reduced living strategy in August. Total extra cash to pay towards our debts every month? Around $200. It’s now my goal to pay down our kids’ births before they leave the house – but at least we’re making progress.

 

Debt Management

Long and Short Term Loans – Understand the basics for a better selection

Whether to take a short term loan or a long term largely depends on the requirements and the repayment capability of the applicants. Both these loans offer the money required to meet the needs of the individuals but each one of them has its own characteristics and features which need to be looked at before getting to a final decision. Knowing the difference can help one take better and informed decisions which can have long term impact on ones finances.

Long term loans- Take a deeper look

The long term loans are meant for   a long tenure which often extends up to 15-30 years. They are required to be paid back in the form of small monthly equated installments much to the liking of the individuals. These are generally provided by the banks, financial institutions of repute. The lenders run a complete background check of the individuals and ascertain their eligibility on the basis of a number of factors including the credit rating and the history being the prominent ones. The processing of these loans takes a much long time and the reasons are quiet obvious- the amount of risk involved and the high value of the loans.

Some of the long term loans include mortgage, automobile and the student loans. Since these loans are designed to offer large sums of money their tenure is generally kept long so as to keep the monthly repayment low and enable customers repay them comfortably. Normally with such high amounts, lenders generally keep assets as pledge against the loans known by the term collateral. Those with better credit ratings can expect lower interest rates, although credit rating is not the sole criteria for these loans. If you need help improving your credit rating in order to be approved for a loan read more information about it about personal tradelines.

One of the drawbacks of the long term loans is that the processing of the loan takes a very long time often extending up to a month. There is a huge amount of documentation and verification of the same involved and all of this takes a lot of time. However, anyone looking for the purchase of a house or a car, the long term loans are the obvious choice.

Short term loans – Meant for specific needs

Although there are different kinds of short term loans, the ones which are the most common are the payday loans. These loans are also known as the fast cash no credit check loans. The approval is very simple and one can have them at a short notice of just 24 hours. These are designed for people who are in immediate need of cash in small amounts but do not have the credit ratings or the documents and most importantly time to get this loan from the traditional banks. The lending criteria of banks requires the applicant to have a good credit score, stable job, good income, high value assets, which makes it difficult to qualify them.

One of the distinctive features of the short term loans is the high interest rates that they carry. This is mainly on account of the higher risk associated with these loans. No credit checks on the applicants keep the lender under suspicion of the borrower’s financial credibility. Hence these loans are simply offered on the basis of the employment and the income details of the individuals.

Knowing the features of both the long terms and the short term thenetlend loans it should be a lot easier for you to decide amongst the two. If you have the capacity to repay the loans fast and require a low amount, the short term loans will work in your favor. However, if you are in need of high value loans are interested in lower monthly installments and have a stable job which can allow you pay over a long time; long term loans are best suited to you.