What do you know about Advantages and Disadvantages of Debt Consoludion?
Debt Consolidation:
Consolidating your existing debts is another viable option to get out of debt. Prior to taking the debt consolidation route take a look at its pros and cons.
Advantages:
* You have to make just one payment at the end of each month. It has been noticed that the average citizen pays 12 different creditors every month. Therefore, it becomes very difficult for the individuals to figure out whom to pay. With the help of debt consolidation all your debts are being combined, this makes managing your finances much easier.
* Debt consolidation can significantly reduce high interest rates.
* With reduced interest rate and one monthly payment, the amount you have to shell out each month is decreased significantly.
* If you are planning to use a first or second mortgage as a debt consolidation loan then the interest is tax-deductible.
Disadvantages:
* Reduced monthly payment indicates easier load to bear and more money left over at the end of the month. This might tempt you to take on more debt.
* Even though the interest rate is reduced, the repayment period is extended. Thus, you may end up spending more money than what you would have if you had kept each individual loan.
* You can lose everything. If you take out a secured consolidation loan against your home and you miss two to three payments, in that case you might even lose your home.
Ps: I believe, my husband now about this one.
Showing posts with label money. Show all posts
Showing posts with label money. Show all posts
Saturday, October 11, 2008
Tuesday, September 9, 2008
Why you need to stop Auto Payment?
Stop those automated payments!
There are many reasons you may want to halt an automated payment. If you need to close your account, your credit card number gets changed, or if you’ve changed service providers, you’ll want to take these steps to stop your automated payments:
If you pay through your bank:
Contact the bank by phone at least three days before the payment is made. Follow up with a certified letter within two weeks.
Banks sometimes tell consumers to work it out with the merchant, says Chi Chi Wu, staff attorney for the National Consumer Law Center. Instead, invoke the Electronic Fund Transfer Act, which governs automatic bank drafts and puts the responsibility to stop payments on the bank—not the merchant. You can also copy the merchant on the letter to show the bank that the creditor is aware of your wishes.
If you pay via credit card:
It’s actually up to the merchant to stop the charges, not the card company, says Wu. At the same time, you have more protection from unauthorized drafts and mistakes, and you’re not fighting to recoup money that’s already missing from your account, she says.
Notify the merchant and the credit card company separately that you’re stopping automatic payments. Follow up with certified letters to each, and dispute any subsequent charges.
Please read more here to understand clearly : Auto Payment Issue
—Dana Dratch
Ps: Thats why i hate when he paying like that. Right now, we paying manually. Its more better and i can have walk shopping when he paying bills at bank. Huhu..
There are many reasons you may want to halt an automated payment. If you need to close your account, your credit card number gets changed, or if you’ve changed service providers, you’ll want to take these steps to stop your automated payments:
If you pay through your bank:
Contact the bank by phone at least three days before the payment is made. Follow up with a certified letter within two weeks.
Banks sometimes tell consumers to work it out with the merchant, says Chi Chi Wu, staff attorney for the National Consumer Law Center. Instead, invoke the Electronic Fund Transfer Act, which governs automatic bank drafts and puts the responsibility to stop payments on the bank—not the merchant. You can also copy the merchant on the letter to show the bank that the creditor is aware of your wishes.
If you pay via credit card:
It’s actually up to the merchant to stop the charges, not the card company, says Wu. At the same time, you have more protection from unauthorized drafts and mistakes, and you’re not fighting to recoup money that’s already missing from your account, she says.
Notify the merchant and the credit card company separately that you’re stopping automatic payments. Follow up with certified letters to each, and dispute any subsequent charges.
Please read more here to understand clearly : Auto Payment Issue
—Dana Dratch
Ps: Thats why i hate when he paying like that. Right now, we paying manually. Its more better and i can have walk shopping when he paying bills at bank. Huhu..
Thursday, August 28, 2008
Did you ver know about Private Mortgage?
Private mortgage notes, also referred to as owner financed mortgage notes, have become more prevalent because they offer three distinct advantages. Conversely, as the situation changes there are three very powerful reason to sell a note.
There are three primary reason that a private mortgage note is established:
1. The buyer was not able to obtain traditional financing.
A little more than half of all applicants, and the numbers is going up, do not qualify for the full amount of the loan that they seek.
2. The owner wants to save time and money.
Utilizing owner financing the owner and buyer can save on the extraneous fees associated with the closing, such as origination fees, closing cost and survey fees.
3. An investment opportunity for the seller. Depending on the sellers circumstances, it may make sense to self-finance for tax purposes.
After the note has seasoned the seller's motives may have changed, resulting in the desire to sell the note. For whatever reason, the seller may want to sell the note for a lump-sum payment. This is very common and these types of transactions occur daily.
Transaction like these are available for residential notes, business notes and vacant land notes. But not all funding sources support all three. One can visit www.divergentgroup.com to find more information about selling a private mortgage note.
The benefits of selling a private mortgage note are numerous but the top three are:
1. It provides immediate cash;
2. The seller no longer has to collect payments on the note;
3. The seller no longer has the risk of non-payment.
Divergent Capital Group represents over 200 institutional investors that purchase private mortgage notes for immediate cash. This creates competition, allowing the most competitive deals available. Visit http://www.divergentgroup.com for more information.
Greg Meares is the principal of Divergent Capital Group and a certified cash flow consultant. Helping others achieve their goals, get out of an adverse financial situation or just trade in payments for a lump-sum is good business. Divergent Capital Group facilitates (no cost to you) the best deal for your situation. Over 200 funding groups are utilized and they compete for your business. Other helpful information regarding private mortgage notes can be found at: http://www.divergentgroup.com
There are three primary reason that a private mortgage note is established:
1. The buyer was not able to obtain traditional financing.
A little more than half of all applicants, and the numbers is going up, do not qualify for the full amount of the loan that they seek.
2. The owner wants to save time and money.
Utilizing owner financing the owner and buyer can save on the extraneous fees associated with the closing, such as origination fees, closing cost and survey fees.
3. An investment opportunity for the seller. Depending on the sellers circumstances, it may make sense to self-finance for tax purposes.
After the note has seasoned the seller's motives may have changed, resulting in the desire to sell the note. For whatever reason, the seller may want to sell the note for a lump-sum payment. This is very common and these types of transactions occur daily.
Transaction like these are available for residential notes, business notes and vacant land notes. But not all funding sources support all three. One can visit www.divergentgroup.com to find more information about selling a private mortgage note.
The benefits of selling a private mortgage note are numerous but the top three are:
1. It provides immediate cash;
2. The seller no longer has to collect payments on the note;
3. The seller no longer has the risk of non-payment.
Divergent Capital Group represents over 200 institutional investors that purchase private mortgage notes for immediate cash. This creates competition, allowing the most competitive deals available. Visit http://www.divergentgroup.com for more information.
Greg Meares is the principal of Divergent Capital Group and a certified cash flow consultant. Helping others achieve their goals, get out of an adverse financial situation or just trade in payments for a lump-sum is good business. Divergent Capital Group facilitates (no cost to you) the best deal for your situation. Over 200 funding groups are utilized and they compete for your business. Other helpful information regarding private mortgage notes can be found at: http://www.divergentgroup.com
Wednesday, August 27, 2008
Did you survive when economy downturn?
Surviving an Economic Downturn
The unemployment rate is on the rise, the stock market has been giving investors a scary ride, the American homeowners' biggest asset has been devalued, inflation is pushing up the price of everything, and we still have a family to feed...
It's easy to get careless about finances when times are good and credit is easy, but the recent problems in the U.S. have forced many of us to take a harder look at how we're earning and spending our money. There may be a lot of money-related problems in our nation right now, but the individual consumer really has most of the control over what happens with their personal financial situation, no matter what's going on with the economy.
Improve your job security. Some industries, such as manufacturing and construction and certain service-provider positions, have already lost many jobs due to the mortgage mess and the general state of the economy. If you feel your job is at risk, do what you can to be more valuable to your employer so they can't afford to lose you. Job cuts always start with the least productive or least necessary employees, and you'll increase your chance of keeping your job if you can do what others can't or won't do. Even if you don't feel like you may lose your job, it's always a good policy to outshine the other employees at least a little; you may even get a promotion because you stood out from the rest.
Searching for a job? Search harder. It's easy to get stuck in your comfort zone and only apply for jobs that you have the education or experience for. And it's logical to only want a job that will pay you for your education or experience. But if your industry has been hit hard by job loss, you may need to be more flexible in your job search. Looking outside your chosen field and being willing to learn something new will increase your chances of finding work. This may be the perfect time for a career change.
You can see full articles at this site first : Go here!
Ps: I really hope my hubby will not have problem with his business. I know its really hard. But i want he survive. If not, how can i will be with him forever? I don't want to live with one man who lost in his way..
The unemployment rate is on the rise, the stock market has been giving investors a scary ride, the American homeowners' biggest asset has been devalued, inflation is pushing up the price of everything, and we still have a family to feed...
It's easy to get careless about finances when times are good and credit is easy, but the recent problems in the U.S. have forced many of us to take a harder look at how we're earning and spending our money. There may be a lot of money-related problems in our nation right now, but the individual consumer really has most of the control over what happens with their personal financial situation, no matter what's going on with the economy.
Improve your job security. Some industries, such as manufacturing and construction and certain service-provider positions, have already lost many jobs due to the mortgage mess and the general state of the economy. If you feel your job is at risk, do what you can to be more valuable to your employer so they can't afford to lose you. Job cuts always start with the least productive or least necessary employees, and you'll increase your chance of keeping your job if you can do what others can't or won't do. Even if you don't feel like you may lose your job, it's always a good policy to outshine the other employees at least a little; you may even get a promotion because you stood out from the rest.
Searching for a job? Search harder. It's easy to get stuck in your comfort zone and only apply for jobs that you have the education or experience for. And it's logical to only want a job that will pay you for your education or experience. But if your industry has been hit hard by job loss, you may need to be more flexible in your job search. Looking outside your chosen field and being willing to learn something new will increase your chances of finding work. This may be the perfect time for a career change.
You can see full articles at this site first : Go here!
Ps: I really hope my hubby will not have problem with his business. I know its really hard. But i want he survive. If not, how can i will be with him forever? I don't want to live with one man who lost in his way..
Monday, August 18, 2008
10 Reasons why a person needs Life Insurance
10 key reasons why a person needs life insurance
I think every husband need to know about this. I hope he will never angry if i ask him to buy life insurance right? If he die, at least i still have some money to continue and find new husband right? Oh dear, i always loving you forever. :)
1. Life insurance correctly planned will on premature death provide funds to deal with monies due, mortgages, and living expenses. It offers protection to the family you leave behind and serves as a cash resource.
2. It secures your hard earned estate on death by providing tax free cash which can be utilized to pay estate and death duties and to tide over business and personal expenses.
3. Life insurance can have a savings or pension component that provides for you during retirement.
4. Some policies have riders like coverage of critical illness or term insurance for the children or spouse. There are certain rules regarding eligibility for riders which you will need to determine clearly.
5. Having a valid insurance policy is considered as financial assets which improves your credit rating when you need health insurance or a home loan or business loan.
6. In case of bankruptcy, the cash value as well as death benefits of an insurance policy is exempt from creditors.
7. Life insurance can be planned such that it will cover even your funeral expenses.
8. Term life insurance has double benefits, it protects and you can get your money back during strategic points in your life.
9. Insurance protects your business from financial loss or any liabilities in case a business partner dies.
10. It can contribute towards maintaining a family's life style when one contributing partner suddenly dies.
Insurance is vital to good financial planning and security but you would need to assess your personal risk and long term commitments. Insurance stands a person in good stead throughout life and can be used in case of emergencies during a life time by requesting a withdrawal or loan.
By: paul wilson1
Ps: I hope he will never read this post. Hihi..
I think every husband need to know about this. I hope he will never angry if i ask him to buy life insurance right? If he die, at least i still have some money to continue and find new husband right? Oh dear, i always loving you forever. :)
1. Life insurance correctly planned will on premature death provide funds to deal with monies due, mortgages, and living expenses. It offers protection to the family you leave behind and serves as a cash resource.
2. It secures your hard earned estate on death by providing tax free cash which can be utilized to pay estate and death duties and to tide over business and personal expenses.
3. Life insurance can have a savings or pension component that provides for you during retirement.
4. Some policies have riders like coverage of critical illness or term insurance for the children or spouse. There are certain rules regarding eligibility for riders which you will need to determine clearly.
5. Having a valid insurance policy is considered as financial assets which improves your credit rating when you need health insurance or a home loan or business loan.
6. In case of bankruptcy, the cash value as well as death benefits of an insurance policy is exempt from creditors.
7. Life insurance can be planned such that it will cover even your funeral expenses.
8. Term life insurance has double benefits, it protects and you can get your money back during strategic points in your life.
9. Insurance protects your business from financial loss or any liabilities in case a business partner dies.
10. It can contribute towards maintaining a family's life style when one contributing partner suddenly dies.
Insurance is vital to good financial planning and security but you would need to assess your personal risk and long term commitments. Insurance stands a person in good stead throughout life and can be used in case of emergencies during a life time by requesting a withdrawal or loan.
By: paul wilson1
Ps: I hope he will never read this post. Hihi..
| Compare Life Insurance Compare 300 life insurance plans - Get our cheapest quote online now! www.protected.co.uk |
Subscribe to:
Posts (Atom)
Posts
