Monday, March 19, 2007

Explore the financial market to get the best personal loans

Your regular income may not be enough to take care of your unlimited personal requirements. With the modern lifestyle and ever-increasing demands, money is assuming all the more importance in this materialistic world. Personal loan is a financial product that takes care of all people who find themselves short of money. If you are looking for best personal loans, you should explore different options as available in the UK financial market.

Personal loans may be secured as well as unsecured. You can get them from high street lenders or from other online lenders. The online financial market is growing at a brisk rate owing to its huge popularity in the UK. The popularity has surely something to do with the benefits accruing to you if you take out loans through online method. Borrowers in the UK can expect the following privileges once they apply for online loans:

  • hundreds of loan plans with varying terms and conditions to suit your requirements
  • quick and fast processing
  • added features that can benefit the borrowers
  • competitive interest rates
  • flexibility in repayment terms
  • different repayment plans
  • low monthly EMIs
  • professional processing of loan application

    Going by the yardstick of loan costing, you can get some of the best personal loans if you properly search online lending market in the UK. As so many offers exist on the Internet, a comparison among them would bring you closer to some of the best personal loans. You should also appraise a loan on the parameters of your suitability and not only on the basis of interest rate. The interest rate may be high in one case, but it still may be the best available option to you if you consider all other aspects of that loan deal. The lower rate of interest alone does not guarantee you a best loan deal, although it is one of the constituents that account for it. The other considerations may be arrangement fees, brokerage fees, early repayment penalty, etc., which may raise the cost of a loan beyond your calculations. So, you should consider these things before finalising any particular personal loan deal.
    About the Author : The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done masters in Business Administration and is currently assisting go4ukloans as a finance specialist.
  • Saturday, March 17, 2007

    10 Tips To Finding The Right Mortgage Loan Broker

    More than half of all borrowers use a broker to arrange their mortgage. But how do you go about finding one? Should you be paying any fees for their services and how do they work?

    There are literally thousands of mortgage brokers in the UK - well over 10,000! These mortgage brokers will range from large companies with nationwide coverage through to the small one-man bands covering their local area.

    These different companies may use the full range of advertising media to attract your attention such as the internet, newspapers, magazines, radio, television and yellow pages.

    Should you prefer to use a local broker, you can get a shortlist of three financial advisers in your area from Independent Financial Promotions (IFAP) You can also look online at the numerous directories of mortgage brokers online to find one that best suits you.

    Whenever you have dealings with a mortgage broker, ensure that you find out whether they are authorised by the Financial Services Authority, either directly or as an appointed representative/principle of another company. Regulated brokers are listed on the FSA website:

    Many mortgage brokers will have access to literally thousands of different lenders and products - this can be hugely beneficial when shopping around. It should be the aim of all mortgage brokers to source the market in order to achieve the best deal for you. Beware however, not every mortgage broker will be as ethical as the next - make sure you do your research!

    If you wish to find out which lenders a mortgage broker has access to on their panel, you simply have to ask them. Brokers will either charge you a flat fee for their services, or charge you nothing whilst receiving a commission from the lender, or of course, a combination of the both. They are legally bound to disclose details of the commission they receive including the figure if this is more than 250.00.

    Mortgage advice is regulated by the Financial Services Authority. Individuals who give mortgage advice must be professionally qualified.

    If you are looking for advice on other financial products, for example on pensions, investments and insurance, be aware that these areas are also regulated by the FSA - your mortgage adviser may not be qualified to give advice on these areas. Unlike mortgages, advisers dealing in investment products have to be either tied to one provider or an independent financial adviser who can source the whole of market.

    The mortgage industry is packed full of confusing words that you may never heard of before - Do not be afraid to ask any questions. If you are not completely sure what you are getting into or signing up to, it is vitally important that make sure every detail is explained fully by your broker or lender. A mortgage is a huge commitment so make sure that you know exactly what is entailed.

    Using the services of a mortgage broker can offer many different benefits to the borrower. If your mortgage requirements are specialised, a broker can sometimes access specialist lenders that may not be directly available to the public. Having a damaged credit history can mean that can that applying for a mortgage can be a little more troublesome via the conventional routes.

    As a first time buyer the prospect of using a mortgage broker can be very appealing - even if your needs are very simple. Buying a home and arranging a mortgage for the first time can be a daunting prospect and having a point of contact available can make the process run more smoothly.

    It is important to be as honest and accurate as possible when applying for a mortgage. In todays market of high house prices, it can be very tempting to inflate your income or downplay your debts and other financial commitments. It is in fact a fraudulent offence to lie about your income on a mortgage application form.

    If you have a problem with your broker or have reason for complaint, it is necessary for both yourself and the broker involved to meet a satisfactory conclusion. Once this avenue has been exhausted, you may take your complaint to the Financial Ombudsman service. It may be possible to claim compensation from the broker in question via the Ombudsman service.

    Friday, March 16, 2007

    10 Ways to Increase Your Chances of Getting Approved for a Merchant Account Application

    The world of online business has its peculiarities. Unlike brick-and-mortar stores, an e-commerce site cannot provide consumers with a physical point-of-sale (POS) terminal. Internet merchants do have their own version of this nifty device that lets them accept credit cards. Online shopping carts and payment gateway systems are the new ways to collect money off buyers. It's not exactly that uncomplicated though. The first thing any profit-minded merchant would need to start exploring this world of modern commerce is a merchant account. In looking for one, you must prepare yourself to be a competitive applicant. Here are ten ways to increase your chances of getting that merchant account you need to start processing payments and raking in the cash:

    1. Tenure matters.
    Most merchant account providers look at the timespan you've been in the business. This is a way for these service providers to know if you're aware of the risks of the business. It says much about how adept you are to your operating business environment. They will be able to assess your ability to identify and properly handle the hazards that you will be facing.

    2. You credit report is crucial.
    For any financial institution, credit reports are like business bibles. These show how well you handle your accounts, if you've repaid past debt, if you have liens against your business, judgments or bankruptcies filed by and against you. The depth of your credit is an indication of how financially trustworthy you are. If there are hits against your credit that do not belong there, contact the reporting agency (Equifax, Experian or TransUnion) and provide them with proper evidence. It also helps to enclose this documentation with your credit report when submitting your application.

    3. They rely on your relationships.
    How you maintained your last merchant accounts, in part, reflects how you will handle the merchant account that you are now applying for. Terminated mercantile accounts will show up on MATCH reports (Member Alert to Control High-Risk Merchants file) or the Terminated Merchant File kept by credit card associations.

    4. Full disclosure is appreciated
    While all merchant account providers have their own way of looking into your credit history and everything else they need to know about you and your company, full disclosure can help make their job easier. As they say, honesty is still the best policy.

    5. The paperwork that tells them all.
    It begins with an application form. Yes, everyone wants your signature and would like to know your name, but a merchant application form with just these are never easy for the person processing the paperwork. It is a tedious task to fill out everything, but try as hard as you can to resist the temptation of skipping the hard questions.

    6. More documents to submit.
    The completed application is just the beginning. You should also be prepared to submit documentation such as your company's articles of incorporation, bylaws, company profile, proof of identity of the board of directors, and many other legal documents.

    7. Know what you are.
    Being a high-risk merchant has its ups and downs. Knowing where you stand from the onset will help you manage expectations. While high-risk accounts can rake in a ridiculous amount of money, it may also be quite difficult to find a merchant account for them. Again, credit card associations, such as Visa and MasterCard, can be unkind to the high-risk merchant. They are very unforgiving of merchants in the high risk category who often exceed the threshold for chargebacks.

    8. The questions and the answers.
    They've got questions and you've got the answers. Well, let's be fair, you should also get your chance on the other side of the fence. It is perfectly all right to get your turn to ask all your questions. So, to prepare both parties, it is essential that you know what to ask and you know what questions to expect beforehand.

    9. Be prepared for a compromise.
    In an ideal setting, you would be able to get exactly what you want. Great fees. Great service. Reliable security features. But we don't always get that. Again, it is important for us to highlight that if you are a high-risk merchant, it comes with its downsides. First among these are the fees you may be quoted. Normally, high risk industries such as gambling, adult, pharmaceutical, gaming and travel websites are charged higher fees than accounts that pose less risk for the merchant account provider.

    10. Take it as a challenge.
    It will take time to find that perfect merchant account provider that you can trust with your business. If you don't get it right the first time, don't give up. Keep at it until you find a payment processor that you are fully satisfied with.

    The steps outlined here are meant to better prepare merchants to get an approval for their merchant account application. Remember though that while these steps are essential, you should always consider what the merchant can do for you even before starting the application process. Merchants like eMerchantPay ( provide you with all the benefits you need to run your business smoothly. Once you know that the merchant of your choice is the right one, go ahead and apply with confidence.

    By Phillip Carmichael

    Tuesday, September 19, 2006

    How To Find Tomorrow's Winners

    Don't waste your time and energy worrying about the big ones that got away,
    invest these two precious commodities to find tomorrow's winners.

    If you are hunting for individual stocks or sectors, begin with an assessment
    of what people are going to need more of in coming years and try to find those
    companies that are leaders or trying to become leaders in those fields.

    Some investors do not wish to mess with their portfolios and just wish to try a
    small short-term bet on something and that is perfectly okay (and probably prudent).
    The important thing is to distinguish between short-term speculations and long-term
    investments, because your objectives with the two will probably be different.

    Your long-term investments could probably endure a 20% drop in value if you are
    holding them for 10 years or longer. A short-term speculative play with a loss of
    10% might be too much of a loss because the idea of these plays is to get in and
    out very quickly. And if you take hits of 30-40% it won't be long before your
    speculative capital is gone.

    Now is the time to think about the next big market plunge because sooner or later
    we know it has to hit. Some of the big name growth stocks may seem too high today,
    but if they begin to head lower for whatever reason you should begin to consider
    at what price level you might wish to enter them and commit to buying them.

    And keep in mind that some people cannot make investment decisions because they
    think they can never do enough research in order to be sure about something.
    Now is the time to face reality: we can never be absolutely sure, all of our
    investments involve some degree of chance.

    As long as something does not involve putting your entire investment plan in
    jeopardy, you might just want to go ahead and play one of your hunches. Often
    times your instincts are right and when they aren't, you can learn something
    that may help you make smarter decisions down the road.

    Long Term Care Insurance Online

    When a good friend of mine inquired where he could obtain information about medical insurance for his out-of-state, elderly mother, I told him to try the Internet.

    He reported back to me about a week later, in desperation: "I am giving up, I am too confused." He had taken on an overwhelming project with his widowed mother, living in another state. As the only child, and following the sudden death of his father, it was his responsibility to care for his mother.

    In this world of technology, the family unit is often living in different geographical areas and the family members are usually quite involved with their own lives, careers, and families. In addition, when both parents are alive, often one or both parents are quite independent and do not require a lot of assistance. As time goes on things, of course, change, and sometimes change very suddenly. There can be a crisis, with regard to the health care needs of one or both aging parents.

    With our baby boomers facing this problem in ever increasing numbers, and with the information highway in full bloom, there is a definite need for planning. Protecting your parent's assets and health is a huge and daunting undertaking, which requires a tremendous amount of education and practical application. Our seniors face many diverse responsibilities upon reaching age 65. To name just a few: Estate planning, taxation, Medicare, social security, wills, insurance, and various other legal and financial matters. All of these different areas require expertise from accountants, lawyers, estate planners, insurance agents, home brokers, financial advisors, and others.

    The Internet is a good starting point for most people to find resources for questions and solutions for your problems. There is, however, no replacement for good solid intelligent advice from an expert. Twenty years ago, insurance for elders was sold by "senior insurance specialists," with just a handful of companies in each state. The programs were most often Medigap or Medicare supplemental policies, which covered the expenses not covered by Medicare, including hospital and doctor deductibles, durable medical devices, and non-approved Medicare costs. Ironically these specialists did not sell a lot of nursing care policies, even though Medicare paid a national average of less than 2% of these expenses. With the advent of "financial and estate planning" and more insurance companies entering this market, a more broad and diversified product line became available to agents, brokers, planners, and seniors. Part of this new diversification was the "home health care plan," sold by itself, and in conjunction with senior health insurance products. The appeal of the "home health care policy" was that a senior could stay at home and still receive medical and custodial benefits, allowing a person to recuperate in the comfort of their own home. This was the answer to a huge problem. The last place an older person wanted to go was a "retirement home," or "rest home," or, God forbid, the "nursing home." It appeared that seniors could now rely on this new innovation without worry of having to move out of their home environment in the event of a health problem. As with most things," if it is too good to be true." ... The home health care policy is no exception. The problem is, there is not enough coverage for a lengthy illness or recuperation time. The fact is, the new trend is toward an "all in one" type facility, allowing for a variety of levels of care all in one location. In other words a senior could start off with little or no health care concerns in an independent, less expensive area, and then go to an assisted living, or nursing care facility, all within the same compound. A "nursing home" requires a nurse on the premises 24 hours per day, assisted living is just eight hours. The advantages to this are financial. The patient or senior is only charged according to the care level required during the time he or she is admitted to that facility. Another benefit is it alleviates a lot of planning because the care is delivered, as it is needed. The medical attention is available to all residents regardless of their current health. Some people are offered a lifetime package , which covers their care for the rest of their life, regardless of their current age. It also allows for social outlets to an otherwise somewhat isolated group. On-line shopping services have become a huge business. It is definitely here to stay and many insurance policies are purchased from Internet quotes and on-line applications. There are literally hundreds of thousands of insurance agents and brokers advertising on the Internet. Most of them will provide instant on-line quotes and even applications for the potential insured. I highly discourage a layperson to purchase insurance in this fashion. A little knowledge can be dangerous. The federal government has mandated to all states through legislation, the standardized senior health insurance policy guidelines, which are governed and regulated by each state insurance department. There are plans for almost every level of health. Some are designed and priced for a less than healthy individual. Others are for a person with minimal health concerns. The whole concept of insurance is to provide protection for "unanticipated" sickness or injury, especially catastrophic expenses, which would devastate a person's net worth. The more small expenses a person is willing or able to pay (self-insure), the lower the rate. I recommend this strategy when evaluating your insurance options. Another consideration when reviewing various insurance plans is to look at the company itself. How long has the company been selling this type of insurance? Do they have a lot of complaints filed with the local department of insurance? Are the rates stable? Does it pay claims on time? Service? Most agents talk about the rating. These ratings are as follows: A+, A, A? B+, B, B? C+, C, C? or "not rated." Do not be fooled by rating alone. It is good to have a high rating, but it is far better to have a company that has longevity, stability, innovation, service, and expertise. The problem is that some companies enter into a market and quickly leave without explanation. This does not give security to the policyholder. The most important consideration should be a review of the profit/loss ratio for that product. This will establish stability, and longevity in the market. An insurance company with a moderate profit in a particular line of business will remain in that market. On the other hand, a company with losses will make changes and possibly even withdraw. This is information not normally available to Internet users. Before entering into an insurance contract , the senior person, the family, and other advisors must be realistic, and a careful evaluation of the entire picture must be examined. The age, the health of the senior, the financial resources, the personality and attitude of the senior, and most importantly the desires of the senior, should all be considered. Early planning is important, as qualification becomes increasingly more difficult as the applicant's health declines. The senior health care market is complex. I will offer some words of advice to attempt to alleviate potential pitfalls. *C hoose a well-informed, seasoned, and service oriented agent or broker to assist your decision making process. The professional can offer invaluable information, but do not be afraid to ask a lot of questions and even get a second opinion. *Do not wait until your parent or loved one is sick, or injured. Plan ahead and take the time needed to cover all the options. *C hoose an experienced insurance company. A Company that has been in the marketplace for a significant time and has maintained a balance of rates and benefits and sound risk selection with moderate rate increases over time is your best bet. *T he plan should be flexible, with a broad range of options and benefit selections to the insured. There should be no tricks, or complicated language for the coverage. An incredibly low rate is a red flag for trouble in the future. *Do not rush or be rushed by an over aggressive sales person. This policy will not be inexpensive and will need to be read and reviewed for a clear understanding of the contents. This is one advantage to the Internet. You are allowed to read indefinitely before you act.

    Thursday, July 13, 2006

    Get More Choices with Online Personal Loan

    Today advancement in information technology has bought a revolution. A person sitting at home can know, what is going around in the world. He is just a click away from the information. The only tool required is your personal computer with internet access. And the whole world is in your one click. Accessing internet provide various facility such as the person can shop or he can buy and sell things on the internet and many more. Then why the lenders should lack behind; so all the lenders also decided to offer the various kind of loan on the internet.

    You might think that online applying for loan may involve very cumbersome process. But it is not the case. Rather it makes the cumbersome process of physical market in to easy and manageable process.

    Definitely, now you may be eager to know the process of getting the personal loan through online. In just three simple steps the person can get the loan:
    Step 1: research
    Research can be defined as locating the various lenders on the internet. It is basically done through surfing. It may be bit time consuming but it help in getting the good results.

    Step 2: comparison
    After locating the various online lenders the next step is to evaluate all the lenders on the basis of annual percentage rate and terms & conditions of the loan. Comparison of various lenders will help you to know what is best for you.

    Step 3: choose
    Last step is to choose your lender which suits your financial needs.
    Once your choice is been finalized the lender will provide you with the quotation of the loan. Quotation of the loan consists of various clause, terms and condition of the loan. This whole process is carried on the internet itself.

    It can confused you that why online lenders offers lower rate of interest? The reason behind this is that lenders who provide loan on internet do not have branches, so this eliminates all the overhead cost of the loan, which in turn the lender to offer the low rate of interest to the borrower. Another reason for the low rate of interest is that the lenders pass their savings directly to their customer which doesn’t involve any cost.

    Every aspect of Online personal loanshas been discussed except the security of the information. There is also no need to worry regarding the security of the information. Because the various websites offering loan online uses the different software and passwords to make your data secure and confidential.

    I think that the above article has satisfied you to apply for the loan. Now it’s your turn to find your perfect personal online loan.

    Equity Income Funds -- The Foundation of a Diversified Portfolio

    006 is another strong year for dividends. For the third year in a row, a growing number of companies have either increased their dividends or begun paying dividends. In addition, more investors are paying attention to the solid companies that are capable of paying dividends. That is a big change from the late-1990s, when investors by and large shunned yields and many companies refrained from paying them, so that stock market yields in the U.S. plunged to unprecedented lows. History shows, though, that over longer periods of time dividends have always been an essential component of total return, regardless of which direction the market has headed. Between 1926 and 2004, dividends accounted for roughly 40% of the average annual return of the U.S. stock market.

    Another impetus for the dividend resurgence, of course, has been the Jobs & Growth Tax Relief Reconciliation Act of 2003, which lowered the maximum tax rate on long-term capital gains and qualified dividends to 15%. With a more level playing field between the taxation of capital gains and dividends, companies can more clearly decide what allocation of capital is best for shareholders over the long-term rather than what is more tax-efficient.

    There are relatively few individual securities that provide a high current yield and grow their dividends, so the challenge for portfolio managers is to build a portfolio of companies that, as a whole, meet both criteria. That requires in-depth, company-by-company, and increasingly, global research. The search often begins on familiar terrain. Electric utilities, oil and gas companies, real estate investment trusts and banks are classic examples of sectors that have traditionally paid generous dividends and increased them in order to make their stocks appealing to investors.

    Our firm continues to recommended equity income funds to clients as core holdings in a diversified portfolio, as a part of their college savings plan or to produce reliable quarterly income in retirement. While these holdings have delivered above average returns for years, it is important to remember that it is not the objective of the funds to beat a stock market index such as the S&P 500. (The S&P 500 consists of 500 stocks representing major US industry sectors.)

    It is the objective of the funds to provide an attractive long-term return by pursuing a conservative strategy focused on providing above-average current income and growth of dividends over the years. Although the majority of assets have typically been held in U.S. based companies, the funds have the flexibility to invest anywhere in the world. In the past, the U.S. stocks provided some of the most reliable dividend income in the world. Now, the U.S. is a relatively paltry source of dividend income, and superior yields and dividend growth come from companies based in Europe and Asia. Many of these equity income funds feature low expenses, experienced managers, limited volatility and steady long-term performance.

    Predatory Lending Through Loan Steering

    With the real estate industry still in high gear from the last five years of skyrocketing prices and low interest rates, predatory lending is at an all time high. The term has no hard definition, but it generally refers to those lenders who go out of their way to offer loans to buyers at substantially higher prices than those buyers would be able to find elsewhere. Predatory lending is a profitable business, and it is often disguised as legitimate lending by unscrupulous lenders or their agents.

    It often works like this: An agent working for a lender, perhaps on their own, tells a prospective loan applicant that he or she doesn't qualify for the mortgage for which they applied. The agent adds that not only will this lender not approve them for a mortgage, but in all likelihood, neither will any other major lender. The agent then assures the borrower that everything will be all right, because he knows of a lender that can get the customer a loan.

    At that point, he refers the customer to this other lender, with whom he is working. This lender will make a loan available to the buyer, but the loan has a high interest rate, exceedingly high closing costs, and a prepayment penalty that will make it quite difficult for the buyer to refinance later. The buyer, not knowing any better and feeling as though he or she cannot do any better elsewhere, signs the contract and accepts the high-priced loan.

    The shady dealings don't end there. Often, such predatory lenders are interested in not only the loan proceeds, but the property itself. By offering high priced loans to people who may have credit and/or income problems, the lenders may be banking on the buyer being unable to meet their monthly mortgage payment. Once the buyer defaults, the lender can take the property through foreclosure and sell it at a profit. The lender gets property that they can easily sell, and the agent gets a commission from the loan and another kickback once the house is sold. The buyer, unfortunately, is left with damaged credit and no place to live.

    Loan steering, as this practice is called, is most common in areas where buyers are poor or have credit histories that may make them less likely to qualify for a loan with a major lender. The people who practice this form of predatory lending are easily able to take advantage of customers who either don't know any better or those who think they cannot find a better deal with another lender.

    If a lender denies your loan application and assures you that no one else will lend to you and then offers to send you to someone who will, be suspicious. It's much easier to simply check with other lenders yourself than to fall into a predatory lending trap.

    A Step towards the Future with Non Homeowner Loans

    Life is full of surprises. At some point of life, financial crunch tend to act as speed breakers. Suddenly life comes to a stand still where you are unable to meet your financial obligations due to dearth of funds. Add to this, you do not have the required collateral to secure a loan. Non homeowner loans provide the solution to all your worries.

    It is presumed that a collateral with a heavy asset is a guarantee to procurement of the provide loan amount to the lender. But, from the lenders point of view, they neutralize the risk by offering non homeowner loans at a high interest rate and the amount assured is lower. Therefore, non homeowner loans are always easy to get and the lender is assured of repayment.

    In case of Non homeowner loans, the lender has to be assured of regular and timely repayment. Before striking a deal with the lender, the first and foremost requirement that a borrower has to fulfill is to have a good credit score. A score of around 615 is considered a safe bet. This means a borrower would have to clear his pending debts. Obviously, a bad credit history may create problems in acquiring the loan.

    The factor that stands in favour of non homeowner loans is its easier and faster access. This is in stark contrast to secured loans where the process of valuation of the asset in the form f collateral takes time. Non homeowner loans come easily as they require no collateral.

    Non homeowner loans can be availed by anybody irrespective of being an owner of a house or not. It is a perfect solution for renters or tenants. Moreover, persons of the elderly class are also welcome to the glorious options available in the form of non homeowner loans. This means the days of sulking in a corner are over. A full proof regular income would satisfy the lender in providing you the desired loan amount.

    Though non homeowner loans require no collateral. To negate this the lender assures himself by keeping the interest rates to as high around 7% to 25% in comparison to the secure loans. But a good credit score or an income proof would always enable the borrower with a sustainable interest rate.

    Obviously, the loan amount in case of non homeowner loans are kept nominally low. And the repayment term may switch to around 6 months to 10 years, depending upon the loan amount and credit score.

    These disadvantages of non homeowner loans to list a few could always be administered properly and efficiently if you could find the right options. Considering the fact that there are various lenders, a hasty decision can land the borrower in trouble. From the various websites offering non homeowner loans, a proper study of interest rates and repayment terms can make you roll steadily.

    Payday Loan Information guide

    Payday loan is the best friend of a man when he is badly in need of money but just doesn’t have it. Payday loan is the fastest and hottest way to acquire cash. Basically a payday loan provides you with an unsecured, short-term cash advance until your payday. Payday loans are the ideal way to acquire money in case of any uninformed expense such as a car repair bill, an instant costly trip, check bounces, other penalties, an accident, death or such unfortunate happening in the family and so forth. For many people payday loans are a means to pay off their monthly rent, grocery bills, utilities and other such day-to-day expenses.

    Payday loan is recognized by various names such as cash advance loan, check advance loan or as a post-dated check loan. In terms of the Federal Trade Commission payday loans are known as ‘costly cash’. But whatever the name may be the fact remains that at present payday loans are the hottest way to acquire instant cash. Countless people across the world believe that payday loans are perfect because of the convenience to qualify for the loan, fast approvals and least amount of paperwork in comparison to other financing avenues.

    Day by day a surge is witnessed in the number of people and the extent to which they are availing the payday loan option. According to a recent survey most consumers utilize the payday loan service around eight to ten times in a year. Also the additional and beneficial services offered by the payday loan companies add to the enticement of these loans.

    One of the current advantages of payday loans is that these can be obtained online even. For instance lately ventured into this area and announced it’s easy to qualify for, online cash advance and payday loan service. Consequently people in any part of the world can apply online and acquire immediate cash to meet their needs. Applying for a payday loan consists of filling an application form asking personal details, occupational information, current banking and requisite financial information and references too. At times bank statements for last few months are also asked for. If in the last two months you have incurred lot many NSF i.e. non-sufficient fund then your loan request is liable to be rejected. The online money lending companies require you to have a current job that has lasted for three consecutive months along with at least a net take home for $800 and a valid checking account functioning from minimum three months.

    Your bank statements and related information is important because this builds your credibility in front of the online payday lender. The Tele-track system that these lenders use verifies your banking history information like checking your account, number of NSF’s and running outstanding payday loans. So if someone plans to betray by filling in wrong information, the money lending online organization can easily catch hold of the deceit. After going through your details and verifying them the payday lender decides the amount of payday loan that usually does not exceed $1500.

    However due to the high interest rates, the payday loans are not a prudent option in the long run. So it is better not to rely much on them.

    Understanding Financial Statements

    The value of the accurate financial statements generated is undisputed. This is as financial statements are like windows into the health of a company. Just by viewing financial statements, adept business owners will be able to determine the strengths and weaknesses at the time that the statement was generated. With this, the owner can then chart the way into the future for the company, by addressing the weaknesses and capitalizing on the strengths that the company has.

    The two main financial statements within any company are the balance sheet and the Profit and Loss statements. The balance sheet provides anyone with a snapshot of the assets and liabilities within a company at any one point in time. This essentially means that the balance sheet shows what the company has and how much they own others. Apart from that, the equation asset = liabilities + capital always holds true within a balance sheet. The liabilities and capital sections indicate the sources of funds for the company while the assets indicate how the company uses the funds that it has. Most importantly, the liability and capital sections indicate money owed to creditors as well as invested amount. If you look closely, you will realize that both of these are obligations of the company that need to be paid.

    By analyzing financial ratios that are generated by numbers on a balance sheet, a business owner is able to tell how well the company collects their accounts receivables, how fast the inventory is moving out and replenished, as well as how much exposure the company has towards debt.

    The typical company balance sheet will consist of fixed assets and current assets such cash, account receivables, inventory and note receivables. Current assets comprise of assets that can be liquidated fairly quickly and easily in order to be turned into cash. On the other hand, fixed assets are amortized over an extended period of time and are not so easily sold to recover cash.

    On the liability section, fixed liabilities include long-term debt of usually more than 12 months of age or contingent liabilities. The current liabilities however are represented by mainly accounts payable and notes payable as well as short term loans. If there is inadequate cash within the company, current liabilities have the ability to drag the company down.

    The final element of the balance sheet, the Equity is the amount of capital financing that has been injected into the company. With this, the owner’s investment into the business is shown in the balance sheet.

    The Profit and Loss statement is used to determine if a company is making a profit or a loss within a specified operations period. The revenue obtained in a period is stated in this statement, and all direct and indirect costs incurred are deducted from the revenue. With this, the profit for that period is obtained, where profits are compared with the previous year’s performance level. Profits with which taxation has not yet been accounted for are known as gross debt, while net profits are debt in which all costs have been deducted from.

    In conclusion, being able to read financial statements is an advantage for any business owner. Interpreting financial statements are ever important in business, as it allows for the owner to take action before things become worse. By reading financial ratios, a business owner will know what needs to be done before the situation of the company changes. Alternatively, reading financial ratios will also help the business owner plan for the future, by incorporating the leverage on existing strengths of the company.

    Saturday, June 24, 2006

    Fear of Failure & Success in Money Matters

    In my work as a therapist, I often come across clients who have fear of success. And what makes this condition worse, is that it is nearly always concealed from conscious awareness.

    This condition is linked with fear of death/loss, which in turn is linked with the fear of the unknown, which is linked with the fear of change. And this can quite easily be reversed.

    Fear of change = fear of the unknown = fear of death/loss. As the subconscious mind does not reason, these fears are all considered to be one and the same.

    If we look at eastern philosophy, the reality of death is embraced in their meditative disciplines. For instance, in Zen, the student is encouraged to look at the cycle of birth and death
    and transcend his fear of it. Simply put, what is eventually realised, is that each moment of our experience dies to the next as it is being born, and this realisation may lead to the emancipation of the student's mind from fear of death/loss, change, or the unknown.

    The main purpose of our life, whether we are aware of it or not, is to make a positive difference. One of the ways in which westerners makes a difference is with money. The problem is that there is so much taboo surrounding the subject, that many have become really "hung-up" over it. This is not due to the fact that money exists, but due to our relationship with it.

    If I was to ask someone, "do you want money?" The reply may be "Yes." If I then was to ask "why?" A reply may be, "Because I like it?"

    Does that sound wrong to you? Honestly?

    If it does sound even slightly wrong, it would probably be because of past conditioning and by merely acknowledging it, you would be on the path to liberating yourself from feeling that its
    wrong to like or want money. I am not talking about secretly inside your own mind, but outwardly feeling free to ask for it in your dealings with others.

    So the first step to releasing any taboos we may have regarding money is to learn to open up to them. Discussing them freely with others is a great way to do this, but often somewhat embarrassing.

    The next problem that generally comes into this weird relationship we have with money is the fear of loss. To our detriment, we often hold on to every cent and the old adage "you've got to speculate to accumulate" is ignored. To the subconscious loss = death, and we have a strong inclination to minimise all risk, but this is something often taken to the extreme.

    The truth is that sometimes we will win, sometimes we will lose and that is a fact of life.

    Financially speaking, what is really wanted and needed here is to look at what's at stake. If we were to lose as a result of the risk we are taking, will it really be so bad? But on the other hand, if we were to win... So a risk is nearly always needed especially in business.

    The saying "everybody loves a winner" drags up the opposite, "everybody hates a loser" and that is what many of us want to avoid. If this is particularly strong in our minds and imagination, we never get to take the risks necessary to win.

    What I am saying here is that you cannot create something without also creating its opposite. In your experience, you create the universe around you. I know it's already there, but you create
    your *experience* of it. So if you create light, you cannot avoid creating dark. Because no dark, no light. Otherwise, how would you know it was light?

    So to create a fear of poverty is to also to create a fear of wealth. Fear of loss - fear of gain. So, when it comes to wealth creation, there is a ton of scepticism because of the risks, because of the fear of loss, because of the fear of being "hated as a loser". It's not always about losing the actual cash as people tend to waste more on frivolous things.

    So what can be done about this?
    The way to deal with any fear is to face it. But only face it to the degree that you are willing to do so in the moment of now, as you cannot face anything without being willing to do so. And the
    experience of willingness is either there or not. It cannot be forced. This is because willingness cannot be defined. One day you could be unwilling to face a dilemma, the next you can find
    yourself willing to deal with what you consider to be your worst nightmare.

    So the final solution to your relationship with money is to become aware of all your resistances, observe them allowing your awareness to analyse any barriers that may be there, then act -
    when you are willing.

    Financial Intelligence - Do you have it?

    Financial Intelligence - Do You Have It?

    The rich and successful stand out from the rest because of
    their Financial Intelligence education, not their
    scholastic education. This is something that we are not
    taught in school but rather something that is acquired.

    To give you an example:

    Is your home an Asset or a Liability?

    The general consensus is that it is an Asset. But is it?

    To answer that question we must first understand the
    difference between Asset and a Liability (financial

    Simply put:

    "An Asset puts money into our pockets."

    "A Liability takes money out of our pockets."

    Knowing these two basic rules of financial intelligence
    lets re-visit the question.

    Is your home an Asset or a Liability?

    1. Every month we make a mortgage payment - (Cash flows
    2. We pay yearly taxes on our property - (Cash flows out).
    3. We have to pay for repairs - (Cash flows out)
    4. When the mortgage is paid we still have to pay the other
    two - (Cash flows out)

    As you can see, if you buy a home, cash will always flow
    out of your pocket. Thus your home is a Liability.

    Does this mean that we shouldn't buy a home? No, not at

    The point that is being made is that if we wish to be rich
    (or wealthy if you are uncomfortable with the word rich)
    and successful we need to understand how to accurately
    distinguish Assets from Liabilities.

    Most people spend a lifetime acquiring Liabilities rather
    than Acquiring income generating Assets. The rich or
    wealthy spend a lifetime acquiring income-generating
    assets and purchase liabilities that work for them instead
    of against them.

    An interesting fact and one that seems to be a stumbling
    block for most people is that you don't need to be rich to
    acquire income-generating assets. 80% of today's wealthy
    had nothing when they started. The other 20% inherited
    their fortunes.

    So, if you desire to be wealthy there are two basic things
    you have to learn how to do:

    1. Continually acquire income-generating assets (cash flows
    in). It does not matter how small they are when you start.
    Over time assets will build up.

    2. Learn to acquire Liabilities that work in your favour
    and not against you.

    "It's not how much money you make, its how much money you

    can keep that counts. There is always hope for those that
    help themselves"

    Monday, June 05, 2006

    Get a Cash Payout On a Structured Settlement

    It is not uncommon for people who are beneficiaries of a structured settlement to sell some or all of the settlements for a cash payout. The reasons for selling a structured settlement vary but the process for obtaining cash for a structured settlement is the more or less the same across all states in America.

    There are many settlement-purchasing companies that offer a number of plans for buying a structured settlement and offer an instant cash payout. The plans offered by these companies are useful for obtaining a lump sum for repaying debts, financing college education, or availing a business opportunity. Since there are many financial companies that purchase settlements, it is in the best interests of the seller to seek advice from his attorney and financial advisor before deciding to do business with a particular structured settlement company.

    An online research should yield details on a number of structured settlement companies that one can visit online. The key factors that decide the choice of a structured settlement buyer include the rate of interest charged, the buyer’s financial standing, buyer’s reputation for fair-dealing, and his relationship with the insurance companies or the actual payers of the structured settlement installments. Since the cash payout is less than the value of the settlement sold, one should actively seek out a buyer that offers maximum cash payout for the settlements sold. Costs incurred in the sale of a structured settlement also include service fees, closing fees, broker fees, and legal expenses.

    The responsibility of getting the best out of the sale of structured settlement lies with the seller. This means he has to be aware of the minimum waiting period, if any, that the state may impose on the sale of a structured settlement as well as other state and federal regulations that govern the sale of a structured settlement.

    A written court order approving the sale of structured settlements is necessary for the seller to receive the cash payout. Court approval is subject to the seller being able to prove that the sale is the best means available to him for achieving liquidity. Brokers who are knowledgeable about the court procedures involved in the sale of structured settlements can offer useful help to the seller and his financial advisor. The entire process of obtaining a cash payout can take up to sixty days and includes submitting an application to the settlement buyer, signing of the closing documents by the two parties, and the legal formalities.

    Get Cash Flow For a Structured Settlement

    There are various companies that offer a lump sum payment in exchange for cash flow streams generated by structured settlements. Beneficiaries of structured settlements often have to sell settlements when faced with an urgent or near-term liquidity need.

    The process of selling structured settlements begins with understanding one’s requirements and the immediacy of the need. This can be done with the help of a financial advisor. In fact, in several states in the U.S, it is mandatory to take legal advice before selling a structured settlement. Brokers who are knowledgeable about the court procedures involved in the sale of a structured settlement can be of great help. Brokers are in contact with numerous settlement companies and upon understanding a seller’s unique requirements they can guide the seller to the most appropriate settlement company. Either with the help of brokers or by searching online, one can select a financial institution that appears to offer the best price for the structured settlement at minimum cost and in as less time as possible. Sellers should also check the prospective buyer’s credentials, the rate of interest they offer, and their record for prompt payments.

    Sellers are usually required to fill an application form that provides the buyer with necessary information such as amount required, nature of the structured settlement, and the insurance company. Upon approval of the application, the buyer forwards closing documents to the seller. These should be studied and understood by the seller with support from his financial advisor. Once the provisions mentioned in the closing documents are met, the funds are released to the seller. The insurance company is made aware of changes in ownership of the structured settlement. The receipt of cash flow by the seller is subject to court approval. The court assesses the seller’s circumstances and then decides whether the sale is in the best interests of the seller and his dependents. A court approved sale of structured settlements is tax-free for the buyer and seller.

    The cash flow received in exchange for the structured settlement is minus the buyer’s fees and other expenses such as broker commissions, application fees, and legal expenses. These costs are not out-of-pocket expenses for the seller nevertheless they should be carefully considered with respect to different buyers and the maximum amount that can be obtained by the sale of a minimum number of structured settlements.

    Bad credit second mortgage loan: A good answer to all your financial demands

    Bad credit second mortgage loan is like exchanging your first mortgage for a new mortgage. But, the question may arise in your mind why you should go for remortgage while continuing your first mortgage? The basic and primary reason is to save money i.e., getting mortgage at low rate of interest. Bad credit second mortgage loan can be used for many purposes like home improvements, debt consolidation, children’s education, holidays, etc.

    For persons having bad credit record, bad credit second mortgagecould be the best option. Though bad credit pose a great problem in getting loan approval and people face a lot of problems and hassles. Lenders have specially designed bad credit second mortgage to avoid hassles for persons with such problems.

    Owning a home does not solve all your problems. Your needs and desires will always knock your door. You have to fulfil all your needs and desires to be happy in life. In such a situation, second mortgage i.e., refinancing is a good option. If you have a bad credit then bad credit second mortgage is always with you to satisfy all your needs and wants.

    As bad credit second mortgage is secured against your property, you will get competitive interest rate on the lower side for your second mortgage.

    Apply for bad credit second mortgage and fulfil all your needs and wants. Get rid of financial crunch and feel happy.