Payday loans – A quick and painless way out of financial crisis
By financen | January 31, 2012 - 4:03 pm - Posted in Payday Loan

In the last few years, many people have fallen into financial hardship. Credit cards happen to be a temporary solution for many in such times, but they are being more expensive with rising variable interest rates. People having bad credit need immediate cash. For them, payday loans are a unique and variable alternative to traditional credit cards. If you are one feeling trapped due to financial bind, considering a payday loan would be the right solution.

You don’t have to go through a credit check while applying for a payday loan. You will be qualified for a loan based on your income and bank account information. Payday loans is a fast and easy solution solving financial problems. Money will be deposited into your bank account within 24 hours.

Payday loans serve a very specific function in the lending marketplace. The principal is of a low amount and it comes at high interest rate. So, it is offered to people for a short term. You will be required to repay back your loan within 14-30 days of receipt. That’s why, the term “payday” is often used because you are required to pay back the loan with your next paycheck.

You can be approved for an amount anywhere in between $100-$1500 without credit check. This is the perfect amount during times of emergencies like medical costs, vehicle breakdown or unexpected airline travel.

The interest rates charged by the payday loan companies is of the same amount charged by the credit card companies. However, payday loans are paid off quicker so that there is not much time for the interest to accrue.

Before taking a payday loan, make sure that you have read the terms and conditions carefully and will be able to repay it back within the term. In case, you cannot pay it within your next payday, you can pay a roll over fee and pay it in your following payday.

There are number of payday loan companies you will be able to find at the time of internet browsing. Select the best among them after verifying their reputation in the market.

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Seven Misconceptions About Bankruptcy
By financen | January 18, 2012 - 6:04 pm - Posted in Bankruptcy

Bankruptcy is such a taboo subject in American society that most people don’t know much about it besides its role in Wheel of Fortune game play. Because of the lack of discussion there is regarding bankruptcy, many people carry with them ideas about the process that do not reflect reality. In order to clear out the confusion for our readers, we contacted Macey Bankruptcy Law who were so kind as to provide us with the following list of seven major misconceptions about filing for bankruptcy:

Misconception #1: Bankruptcy is a death sentence to credit.

Indeed, traditional lines of credit are likely to be inaccessible by you post-bankruptcy. But the process will make you the target for high-interest credit card providers who will start sending you applications almost immediately. These can be key to rebuilding credit, but also dangerous to those just coming out of filing for bankruptcy.

Misconception #2: Bankruptcy causes you to lose everything.

One commonly held belief about bankruptcy is that by committing to the process you forfeit ownership of everything you own. Every state’s law is a little different, but a basic rule of thumb is that your home, household goods, and clothing are immune from government seizure. Your car can also be excluded, assuming it’s valued less than a certain set amount.

Misconception #3: Bankruptcy removes all debts.

Government-guaranteed or government-issued student loans, unpaid alimony and child support, and payments decided in court are all going to stick with you post-bankruptcy. If you borrowed from Uncle Sam to go to school or ripped off Aunt Edna to pay for a trip to South America, don’t expect bankruptcy to save you from paying them back.

Misconception #4: Bankruptcy is a one-time deal.

The minimum time one can re-file for chapter 7 bankruptcy is eight years, while re-filing chapter 13 requires a two year wait. If you plan on going from one to the other, the wait is four years. One way or another, bankruptcy can legally be filed a number of a times by a single party. Whether that’s a smart way to go through life is a different story.

Misconception #5: Bankruptcy is only available to a select number of people.

You may be surprised to learn that bankruptcy law is directly controlled by Congress per the Constitution. As such, the specifics over the years have maintained a strict adherence to the founding principle that bankruptcy should be available to anyone with the financial burdens that justify its existence.

Misconception #6: Bankruptcy does not include taxes.

It’s not easy having your back taxes forgiven during bankruptcy, but it’s not impossible. The tax burden needs to be no older than three years, and you better have every shred of documentation needed to back up your filing. The success rate is minimal, but many bankruptcy lawyers say it’s worth a shot, especially if you owe enormous amounts of money to Uncle Sam.

Misconception #7: Bankruptcy can cover premeditated bad purchases.

Using credit cards or committing other forms of borrowed spending with the intention of having it wiped clean by bankruptcy is a serious act of fraud and is not warmly welcomed by those entrusted with processing your claim. In fact, these people specifically look for signs of such criminal activity, so there’s absolutely no point to ever attempt such a short-sighted and selfish strategy.

Not much is said about the issue of bankruptcy because those who have filed don’t want to talk about it and those curious to know more don’t want to come off as being unwise with their money. The result is a lot of misinformation and misconceptions floating around in peoples minds regarding the process of bankruptcy. Whether you’ll never need to file or are debating doing do right now, it certainly pays to be aware of the facts when it comes to bankruptcy in the United States.

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The Pros and Cons of Instant Credit Card Applications
By financen | January 9, 2012 - 3:05 pm - Posted in Credit Card

One of the greatest advantages of internet is that one can apply for an instant credit card on line. To get an access to instant credit card one has to fill up the forms or application on line. The online services are provided by most of the credit card companies. These kinds of services are offered by the credit card companies to satisfy their customers and also to sign up new customers. The response from the company is very fast, the only thing that you need to do is just fill up the application on line and get the answer via e-mail instantly.

Let me tell you that it is not as easy as it sounds. The instant credit card application has both advantage and disadvantage.

You might get the response of an application instantly, however to get the approval of the application might not be as easy. In spite of these companies using the advanced technologies or claiming to be the fastest to response to the customers query does not work that well. It is not always true that your application is not granted because you did not pay your bills. Your application may be rejected for various reasons.

The credit card companies are very strict in verifying your application. There are many reason which might me be alien to you like having problem with any of your existing credit card can force the companies to reject your application. In result you might feel embarrassment.

It is very risky to use the free schemes provided by the credit card companies that is the reason why you should always verify the details in a proper manner. Many a times credit card companies enforce high interest rate on these instant credit cards. These are simply scam. Even when you apply on line it is not worthy to trust as you are required to fill some of the personal details. It is important to verify whether the website that you are surfing is secured. At times you are asked to fill some of the question which might be dicey and if it so then you must stop then and there.

However if there is disadvantages then there are advantages too with these kind of instant credit card. The entire process works very fast, again the credit report plays a vital role like if you have a good credit report then it is easier to get the application a green signal. It can also be very helpful when you need the card in emergency. There are good offers for new users like the introductory offer.

There are various offers while you fill up the card application on line, so it’s very obvious that you can always go for the best option that you require. To maximize profits it is vital that you weigh the pros and cons of instant credit card application.

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