Five tips to avoid loan fraud

May 07, 2012  //  Posted by: Financial advisor  //  Category: Loans

Avoid loan fraud, loansThere are many private institutions that are waiting for the gullible loan seekers to step into the trap of fraudulence. There are many individuals who are suffering from a very bad debt and are desperate for a loan. These people are the easy targets of such institutions. You should very careful while applying for loans. You should always make sure that no up front fee is asked from you. If you are asked for such fees, you should know that there is something wrong with the lenders and stop doing any business with them.

Secondly, you must not sell the house to the “foreclosure rescuer”. Thirdly, do not make any payments regarding the mortgages to anyone but the services of the loan or the lender. Fourthly, do not make any signature on documents if you think you are being pressurized or have not reviewed it properly. Finally, the letters that you get for the servicer of the loan or the lender should not be avoided.

Five key points to consider while evaluating online lenders

May 05, 2012  //  Posted by: Financial advisor  //  Category: Loans

Apply loan online, online loansWhen you are applying for a loan from the online lenders, you have to be very sure about their reputation in order to avoid any situation of fraudulence. Firstly, you have to de the design of the web page. The webpage is no less than a storefront of the lender. Try to avoid lenders who have a very flashy webpage. Secondly, make sure that the webpage has contents that are related to the material information regarding the loan.

Make sure that the page is not taking a lot of time to load. Thirdly, avoid clicking on random buttons and avoid those websites that try to push you in clicking buttons. The lenders will obviously need your information. However you have too see if the website is making the posts private of not. Finally, you have to take the URL of the website and search for an evaluation of the website or some reviews about it on other websites that serve for the purpose.

Bank loan vs. factoring loan

May 04, 2012  //  Posted by: Financial advisor  //  Category: Loans

Bank loan, loansFactoring means purchasing ones account receivables at a discount in exchange of immediate cash. It mainly looks at the financial soundness and credit worthiness of a company’s customers and not of the company. Factoring is not exactly a loan and the various forms of factoring are invoice factoring, business factoring and receivable factoring. Whereas on the other hand conventional bank loans, treats the account receivable as collateral.

There are very few restrictions involved while approving a factoring loan, whereas on the other hand banks have restrictive and strict lending norms.

You can obtain a factoring loan quite easily and conveniently without any form of hassle. It is an instant solution to your problem. In case of a bank loan, various formalities and procedures are to be fulfilled, to get the loan approved.

Factoring is basically ideal for small and new business houses where it will is a difficult procedure to qualify and get approval for a bank loan.

Benefits of an SBA loan

May 03, 2012  //  Posted by: Financial advisor  //  Category: Loans

SBA loan, loansSmall business requires a lot of cash flow at low interest rates. This problem can be solved with the help of the various small business loans as well as the various mortgage loans. You need to fulfil certain eligibility criteria in order to qualify for such loans. The small business loans are more beneficial when compared with the mortgage loans. These loans offered are in accordance with the government terms and can be returned easily.

Small business loans have a lot to offer to people those who apply for the loan. It covers up to 90% of the total amount that is required by the business owners. When this is compared to the mortgage loans which only cover 75%, it is a huge benefit. The other benefit is that you can avail this loan easily from any of the banks without any hindrance. The interest rates for the SBA loans are also amazingly low. So if you need a financial help, go for the SBA loan to solve your business complications.

Is micro loan a right pick for you?

May 02, 2012  //  Posted by: Financial advisor  //  Category: Loans

Micro loan, loansA micro loan is actually a small amount of money that is provided to fund a small scale business as a capital amount to help them get started and it is also given to NGO’s who take care of child care centers. The micro loan has various utilities such as using it as a capital amount, purchase of equipments and required machines, the purchase of furniture and purchase and buying of supplies and inventory. Determining whether a micro loan is a correct option for you depends on a few factors.

The first factor is the utility of the loan. Depending upon the need, the choice of loan must be made. So, if you want to start up a small business, then micro loan is the right choice for you but if you are looking to open a business on a grand scale, then opting for a micro loan will not serve any purpose. Also, a micro loan has a maximum allowed term for 6 years which may be too less for some and hence it completely depends upon the nature of your purpose for the loan to determine whether a micro loan is a right pick.

Managing your direct school loan when in college

April 30, 2012  //  Posted by: Financial advisor  //  Category: Loans

Direct school loans are great for students having second thoughts about pursuing their higher studies. Provided by the federal government through the schools, direct loans come with different repayment plans and low interest rates. Your servicer at school will keep you updated about your loan status and you can get yourself prepared with ample time in hand to pay back.

You can start doing a part time job besides your studies and cut down on unnecessary expenses. Including the loan fee, you will be paying a higher amount than that of your principal that you received. Usually there is no need to start repaying till the grace period ends after graduation, but you can save money at hand to pay off early as soon as it starts. Manage your loan while at school only by not drawing overdraft on your school account. Direct loans can be consolidated also for easier repayment.

Repaying your students loan: how to start

April 28, 2012  //  Posted by: Financial advisor  //  Category: Loans

Student loans are those great help to people entering college offered by banks and financial institutions on a promise to pay off as soon as you get a job after graduating. Having debts in your account for too long will end up in getting you a bad credit report at the start of your career so try to pay off early and on time.

Start calculating your installments and save with your part time job salary. Try to find a job as soon as you pass out and maintain regular installments to the bank without fail. Usually student loans give a grace period of six months after graduating, but if possible, try to get off the burden even before that. Negotiate with the lender on smaller installments but pay them on time. Also, if you care about your future while still in college, you can try and earn some extra bucks with night shifts and part-time jobs.

 

Pros and cons of structured settlement with a lump sum

April 27, 2012  //  Posted by: Financial advisor  //  Category: Loans

In today’s time it has become quite essential to manage the money that you receive from court settlement and claims in an effective way. Structure settlement companies aid you in managing your finances in an effective way. Structured settlement plays a major role in future of your family members. The basic objective of structured settlement company is to provide you with structure settlement.

A company engaged in structure settlement facilitates you in receiving the lump sum in installment basis as per the need and requirement of your family. You can also opt for lump sum structured settlement. Lump sum money tends to solve a lot of your backlogged problems but at the same time a lump sum amount can be overspent or used very quickly. Accepting structured settlement with a lump sum will oblige you to spend more on paying taxes. According to your future needs and financial requirement make a suitable choice.

 

A step by step guide to a personal loan

April 20, 2012  //  Posted by: Financial advisor  //  Category: Loans, Personal Finance

There are some important things that you need to consider for getting personal loans without any trouble. Make sure that the loan is secured. the personal loans that are not secured will not bear a lot of risk as a homeowner loan that is secured but if you are unable to make the repayment the rating of your credit will be lost. The loans that are secured will ask you to provide the documents of your property. If you are not an owner of property then you will have to resort to a loan that is not secured.

You can apply for the personal loans from the websites. There are a lot of websites that offer personal loans. The performances of the lenders are monitored by some online originations and you could seek their help in order to get the best deal possible. Make sure that there are no hidden clauses in the deal that you will sign before taking up the loan.

How to get a legitimate online cash loan

April 19, 2012  //  Posted by: Financial advisor  //  Category: Loans

There may be a situation where a person may find himself in desperate conditions and will be ready to borrow money from any lender that comes across. If you find yourself in such a situation, you should check online for the lenders who are legitimate. There is no safer way of getting loan form a trusted lender than taking your time and researching through the different websites that have advertised for online cash lending. There are some sites that will let you have an interaction with the multiple lenders.

You should choose such sites. The sites of multiple lending have a list of loan companies that are reliable. This will let you choose the best option for your situation. There some networks of lending that keep a monitor of the standard of performance of the lenders of loan. Therefore, you should ask for help from these networks to get a trustworthy lender.