Accounting in USA has seen lots of change. There was a time when the accounting was more of book keeping done in huge ledgers and was the purview of select few. It’s not so anymore. Accounting is much more widely accepted as a business function and general people also look for the accounting details of the firms they are associated with. Also lot more transparency is required now. Keeping in line with the development of IT and other technologies, the accounting is also now based on internet and has taken wide strides. Online accounting services, viewed as merely experimental only a few years ago are now becoming the run away business.
As such accounting industry as been little slow to adopt the newer technology and has not left fully its love for the pen and pencil work.
The SU accounting industry has seen new trend of outsourcing its work now. All these have forced the industry to adopt the Online Accounting. The internets as well as other technologies are used now to build more efficient book keeping systems. Also it’s becoming more cost efficient for larger firms to outsource the work. Outsourcing is very much easier with work being delivered online. It’s much more cost effective as well as fast also.
The shift from the practice where clients paid the accounting firms as per the billable hours to a fixed fee based system is forcing the accounting firms to deliver efficient work in cost effective manner. This means that they can not any longer cover their inefficient work by merely putting in more time into the projects. This has favored the Online accounting practices much. Value billing has forced accounting professionals to become more efficient.
Online accounting very effectively cuts short the time taken to transfer the time taken by information exchange between the clients and accounting firm. The seamless transfer is far more efficient and much faster. The accounting firm has dynamic access to the sourcing documents of the clients firms and can access anytime any information it requires from its clients side. The online accounting system also allows the accounting firm access to client data from far away locations at the a few clicks on the internet. The time sensitive financial data is readily available to the accounting firm.
Other then the speed and cost of services, online accounting enables better customer service and more reliability and trust. Accounting firms recently have been exposed as in cahoots with some very big clients, committing serious financial crimes. In this scenario the new practice builds more transparency also.
The online accounting practice also provide for more timely communication between the firm and clients. Since the client has more immediate access to information and to time sensitive documents with Online Accounting practices, questions and problems can be more easily identified and resolved. This translates into increased profits as well as happier clients!!
Since the clients get better service, they get more value for the money they spend. It is generally quite cheaper for the business owner to outsource the bookkeeping and accounting than to hire and supervise it in-house. Savings for the business owner can be as much as 30% for some clients! Online Accounting is great for such services.
The accounting firms also charge now a fee (fixed on a monthly basis) almost five times the average monthly fee (based on billable hours) they charged earlier.
Generally the various online accounting processes available are customized for their users where they can choose the menu of features they like.
Online Accounting is an excellent tool for accounting and book keeping, one that is help full for both the accounting firms as well as the clients.
woensdag 29 juli 2009
dinsdag 28 juli 2009
Online Banking Is Safer Than You Might Think
Online banking appeals to many because it's fast, easy and convenient. But some still shy away from it, and for all the wrong reasons, according to recent data.
The 2006 Identity Fraud Survey Report, released by the Council of Better Business Bureaus and Javelin Strategy & Research, provides new insight on how identity fraud occurs.
Bottom line? The Internet is safer than you might think.
According to the report, 90 percent of data compromise takes place through traditional offline channels. In fact, online banking can reduce the harm caused by identity theft because electronic account monitoring is the fastest way to detect fraud.
"Frequent monitoring of your finances is made easier through online banking," said Barry Miller, director of technology and information security for NetBank, an Internet-only bank. "A consumer who banks traditionally and receives a statement in the mail can only monitor their account activity every 30 days at best."
Online banking also eliminates the paper trail. The majority of theft cases, Miller says, are a result of information being obtained offline, through paper bank statements and credit card receipts, for example.
Based on the Javelin study, the Better Business Bureau and other experts offered some steps to protect consumers from identity theft, urging people to replace paper bills, statements and checks with online versions; reviewing bank, credit card and bill statements weekly, which is easy through online account access; and using e-mail-based alerts to monitor transfers, payments, low balances and withdrawals or to detect any out-of-pattern activity.
Online banking continues to grow in popularity. The Online Banking Report puts the number of U.S. households using online banking at 40 million. And according to a survey conducted by Feedback Research, customer satisfaction is high.
Eighty-three percent of the respondents who banked online were either "very" or "extremely" satisfied with their online transaction experiences, 79 percent said the transactions were easy and 77 percent said they were generally hassle-free. Almost 10 percent said they banked with an Internet-only bank.
The 2006 Identity Fraud Survey Report, released by the Council of Better Business Bureaus and Javelin Strategy & Research, provides new insight on how identity fraud occurs.
Bottom line? The Internet is safer than you might think.
According to the report, 90 percent of data compromise takes place through traditional offline channels. In fact, online banking can reduce the harm caused by identity theft because electronic account monitoring is the fastest way to detect fraud.
"Frequent monitoring of your finances is made easier through online banking," said Barry Miller, director of technology and information security for NetBank, an Internet-only bank. "A consumer who banks traditionally and receives a statement in the mail can only monitor their account activity every 30 days at best."
Online banking also eliminates the paper trail. The majority of theft cases, Miller says, are a result of information being obtained offline, through paper bank statements and credit card receipts, for example.
Based on the Javelin study, the Better Business Bureau and other experts offered some steps to protect consumers from identity theft, urging people to replace paper bills, statements and checks with online versions; reviewing bank, credit card and bill statements weekly, which is easy through online account access; and using e-mail-based alerts to monitor transfers, payments, low balances and withdrawals or to detect any out-of-pattern activity.
Online banking continues to grow in popularity. The Online Banking Report puts the number of U.S. households using online banking at 40 million. And according to a survey conducted by Feedback Research, customer satisfaction is high.
Eighty-three percent of the respondents who banked online were either "very" or "extremely" satisfied with their online transaction experiences, 79 percent said the transactions were easy and 77 percent said they were generally hassle-free. Almost 10 percent said they banked with an Internet-only bank.
maandag 27 juli 2009
Your Credit Card Payment Is Rising: Warning & Tips
Summary: Did you know your minimum credit card payment is rising? A new government program working to get Americans out of credit card debt is pushing credit card issuers to raise minimum monthly payments. Will you be able to make the higher monthly payment? Here are some tips for getting by.
If you're an American, your minimum monthly credit card payment may soon be doubling. If you're only paying the minimums now, you'll have to be careful to adjust your budgeting to pay more.
Who's Raising Your Monthly Minimum Credit Card Payment?
Whose idea was it to increase credit card minimum monthly payments? The Office of the Comptroller of the Currency, a bureau of the U.S. Treasury Department that has become more and more involved with reigning in the abuses of credit card companies. Yes, this credit card minimum payment increase was thought up by people trying to help you.
Who will be raising their monthly minimums? So far, some of the largest credit card issuers have agreed to the new standards. Bank of America has already been asking for the higher monthly minimum payment. MBNA, Citigroup (a.k.a. Citbank), Discover, and Chase (on some of its cards) will be breaking the news to their cardholders as Fall 2005 progresses.
How Much Will Credit Card Minimums Increase?
For many credit cards, such as MBNA and Bank of America, the new rates mean that monthly minimum payments will double.
Right now, the monthly minimum payment is only 2% of the balance on most of these cards. The new rate will be around 4% (the actual number may vary from card issuer to card issuer). This means that if you have the average American credit card balance of about $10,000, your minimum monthly payment will go from $200/month to $400/month.
Of course, if you have any additional fees, whether a late fee or a cash advance fee or any of the other fees that the credit card guys cook up, you will have to pay that, too.
Why the Credit Card Minimum Payment Increase?
You may be wondering why anyone would want to make you pay a higher minimum monthly payment. The basic reason for making you pay more is: for your own good.
According to Mike Peterson, co-founder of American Credit Foundation, by doubling the amount you pay per month toward credit card debt, you will cut down on what you pay toward interest by much more. Look:
Old monthly minimum payment of 2% of balance, $2,000 credit card debt at 18% percent interest:
* Time to pay off debt in full: about 30 years.
* Interest paid: about $5,000–two and a half times what you initially borrowed!
New monthly minimum payment of 4% of balance, same debt:
* Time to pay off debt in full: about 10 years. Time saved vs. old payment: 20 years.
* Interest paid: about $1,100–slightly more than half what you originally borrowed. Amount saved vs. old payment: $3,900.
Tips for Paying Double Easily
How do you pay off your new, higher credit card balance?
Stop Charging
Yes, you will have to make major sacrifices to stop using your credit card. But just look at all the money you'll have in ten or thirty years that you wouldn't have if you had to pay all that credit card interest. If you have trouble resisting the temptation to charge, here are some solutions that have actually worked:
* Give your credit cards to a friend or family member to hold in safe keeping.
* Freeze the cards in a block of ice.
* Never carry more than one credit card with you.
Economize on the Small Things
According to Michael Peterson of the American Credit Foundation, even tiny savings really add up when it comes to debt. His favorite example is the Diet Coke example:
* If you buy one Diet Coke a day at $1/day, that's $365/year.
* If you instead invested that one dollar a day at 10% interest (the average yearly return on major stocks over the last half century), you would be a millionaire within 56 years.
* Of course, with credit cards, this logic works in reverse: if you are lucky enough to be paying only 10% interest, fifty years of charging Diet Coke to your credit card will mean you've lost the same amount, not only in interest paid, but in the lost opportunity to save and invest.
* You don't have to put aside one dollar a day for fifty years to see a big difference. One dollar a day is $30/month, 15% of the average $200 increase in credit card minimum monthly payments.
* In order to get that entire $200 increase out of your daily budget, you would only have to save $200/30 or less than $7 a day. OK, maybe you aren't drinking seven Diet Cokes a day. But there are very few credit-card-holding Americans who can't cut $7 a day out of their spending.
* Saving weekly rather than daily, $200/month works out to about $45/week, or the cost of a restaurant meal for a small family--another luxury you might want to skip until you're debt-free.
Bigger Savings
* Taxes. Most Americans could pay hundreds of dollars less tax each year if they just took all the deductions they were eligible for upfront, rather than waiting to get a refund in April. By April, you will have spent a big chunk of money on interest on debt that you wouldn't have spent if you'd had the money at hand.
* Pleading. Call the credit card companies and ask if they can allow you to set up a payment plan, or at least provide a brief extension. Simply calling and letting them know you haven't forgotten about them can help keep you out of the worst trouble.
* Credit counseling. Credit counselors can talk with credit card issuers to help you get a repayment plan you can keep up with. They can also open your eyes to untapped sources of income you never knew you had, like kicking the $1,000,000 Diet Coke habit.
In short, don't panic. With only a little bit of planning, you can make the higher minimum monthly payment work to your advantage, just as the policy's authors intended.
If you're an American, your minimum monthly credit card payment may soon be doubling. If you're only paying the minimums now, you'll have to be careful to adjust your budgeting to pay more.
Who's Raising Your Monthly Minimum Credit Card Payment?
Whose idea was it to increase credit card minimum monthly payments? The Office of the Comptroller of the Currency, a bureau of the U.S. Treasury Department that has become more and more involved with reigning in the abuses of credit card companies. Yes, this credit card minimum payment increase was thought up by people trying to help you.
Who will be raising their monthly minimums? So far, some of the largest credit card issuers have agreed to the new standards. Bank of America has already been asking for the higher monthly minimum payment. MBNA, Citigroup (a.k.a. Citbank), Discover, and Chase (on some of its cards) will be breaking the news to their cardholders as Fall 2005 progresses.
How Much Will Credit Card Minimums Increase?
For many credit cards, such as MBNA and Bank of America, the new rates mean that monthly minimum payments will double.
Right now, the monthly minimum payment is only 2% of the balance on most of these cards. The new rate will be around 4% (the actual number may vary from card issuer to card issuer). This means that if you have the average American credit card balance of about $10,000, your minimum monthly payment will go from $200/month to $400/month.
Of course, if you have any additional fees, whether a late fee or a cash advance fee or any of the other fees that the credit card guys cook up, you will have to pay that, too.
Why the Credit Card Minimum Payment Increase?
You may be wondering why anyone would want to make you pay a higher minimum monthly payment. The basic reason for making you pay more is: for your own good.
According to Mike Peterson, co-founder of American Credit Foundation, by doubling the amount you pay per month toward credit card debt, you will cut down on what you pay toward interest by much more. Look:
Old monthly minimum payment of 2% of balance, $2,000 credit card debt at 18% percent interest:
* Time to pay off debt in full: about 30 years.
* Interest paid: about $5,000–two and a half times what you initially borrowed!
New monthly minimum payment of 4% of balance, same debt:
* Time to pay off debt in full: about 10 years. Time saved vs. old payment: 20 years.
* Interest paid: about $1,100–slightly more than half what you originally borrowed. Amount saved vs. old payment: $3,900.
Tips for Paying Double Easily
How do you pay off your new, higher credit card balance?
Stop Charging
Yes, you will have to make major sacrifices to stop using your credit card. But just look at all the money you'll have in ten or thirty years that you wouldn't have if you had to pay all that credit card interest. If you have trouble resisting the temptation to charge, here are some solutions that have actually worked:
* Give your credit cards to a friend or family member to hold in safe keeping.
* Freeze the cards in a block of ice.
* Never carry more than one credit card with you.
Economize on the Small Things
According to Michael Peterson of the American Credit Foundation, even tiny savings really add up when it comes to debt. His favorite example is the Diet Coke example:
* If you buy one Diet Coke a day at $1/day, that's $365/year.
* If you instead invested that one dollar a day at 10% interest (the average yearly return on major stocks over the last half century), you would be a millionaire within 56 years.
* Of course, with credit cards, this logic works in reverse: if you are lucky enough to be paying only 10% interest, fifty years of charging Diet Coke to your credit card will mean you've lost the same amount, not only in interest paid, but in the lost opportunity to save and invest.
* You don't have to put aside one dollar a day for fifty years to see a big difference. One dollar a day is $30/month, 15% of the average $200 increase in credit card minimum monthly payments.
* In order to get that entire $200 increase out of your daily budget, you would only have to save $200/30 or less than $7 a day. OK, maybe you aren't drinking seven Diet Cokes a day. But there are very few credit-card-holding Americans who can't cut $7 a day out of their spending.
* Saving weekly rather than daily, $200/month works out to about $45/week, or the cost of a restaurant meal for a small family--another luxury you might want to skip until you're debt-free.
Bigger Savings
* Taxes. Most Americans could pay hundreds of dollars less tax each year if they just took all the deductions they were eligible for upfront, rather than waiting to get a refund in April. By April, you will have spent a big chunk of money on interest on debt that you wouldn't have spent if you'd had the money at hand.
* Pleading. Call the credit card companies and ask if they can allow you to set up a payment plan, or at least provide a brief extension. Simply calling and letting them know you haven't forgotten about them can help keep you out of the worst trouble.
* Credit counseling. Credit counselors can talk with credit card issuers to help you get a repayment plan you can keep up with. They can also open your eyes to untapped sources of income you never knew you had, like kicking the $1,000,000 Diet Coke habit.
In short, don't panic. With only a little bit of planning, you can make the higher minimum monthly payment work to your advantage, just as the policy's authors intended.
zondag 26 juli 2009
Learn How You can Make Gains from Using the Forex trading Grid Technique
The most important part of how to make money using the no stop, hedged, Forex trading strategy will now be covered. In the preceding articles in this series we reviewed trading without stops, not being concerned about which way the price moves and places to cash in on profitable transactions. We are now going to show how you would make money buying and selling simultaneously using the grid strategy.
The no stop, hedged currency trading grid system uses the rule that one should be able to close a transaction at a gain no matter which way the market moves. The only way this is logically possible is that one would have a buy and a sell transaction active simultaneously. Most traders will say that doing this is not recommended but let’s look at this in more detail.
Assuming a grid with grid gaps of 100 pips. We are going to use the simplest formation to show the principles involved. This formation is the 100% retractment formation where the price goes up to a grid level and then returns back to the starting grid level. Regrettably things become quite mathematical from here. We are also ignoring broker spreads to keep things simple.
Let us say that a trader enters the market with a buy (buy 1) and sell (sell 1) deal active when a currency is at a level of say 1.0100. The price then goes to level 1.0200. The buy will then be positive by 100 pips. The sell will be negative by 100 pips. Now we would cash in our positive deal and bank our 100 pips. The sell is now however is carrying a loss of -100 pips. The grid system requires one to ensure that the trader can cash in on any movement in the Forex market. To do this one would again enter into a buy (buy 2) and a sell (sell 2) deal at this level (level 1.0200).
Now, for convenience let us say that the price moves back to level 1.0100 (the starting point).
The second sell (sell 2) has now gone positive by 100 pips and the second buy (buy 2) is making a loss of -100 pips. According to the grid trading rules you would cash the sell (sell 2) in and another 100 pips will be added to your account. That brings the grand total cashed in at this point to 200 pips (buy 1 and sell 2). At this stage the first sell that is active has moved from level 1.0200 where it was -100 to level 1.0100 where it is now breaking even.
The 4 transactions added together now incredibly show a gain:- 1st buy (buy 1) cashed in +100, 2nd sell (sell 2) cashed in +100, 1st sell (sell 1) now breaking even and the 2nd buy (buy 2) is -100. This gives an overall a gain of 100 pips in total. We can liquidate all the deals and have some champagne as we have made a profit of 100 pips.
Please make sure you understand the mathematics behind the activities discussed above. You may have to reread and draw the movements on a piece of paper to make sure you understand the concept.
This formation is the 100% retracement formation where the price goes up to a grid level and then returns back to the starting grid level and results in a nice profit for the forex trader. There are many other market movements that turn this strange Buy and Sell at the same time activity into profits. The next article will cover the 50% retractment formation which produces the same amount of profit.
There will be much more on the no stop, hedged grid trading system in future articles in this directory. Do not miss them, whatever you do.
The no stop, hedged currency trading grid system uses the rule that one should be able to close a transaction at a gain no matter which way the market moves. The only way this is logically possible is that one would have a buy and a sell transaction active simultaneously. Most traders will say that doing this is not recommended but let’s look at this in more detail.
Assuming a grid with grid gaps of 100 pips. We are going to use the simplest formation to show the principles involved. This formation is the 100% retractment formation where the price goes up to a grid level and then returns back to the starting grid level. Regrettably things become quite mathematical from here. We are also ignoring broker spreads to keep things simple.
Let us say that a trader enters the market with a buy (buy 1) and sell (sell 1) deal active when a currency is at a level of say 1.0100. The price then goes to level 1.0200. The buy will then be positive by 100 pips. The sell will be negative by 100 pips. Now we would cash in our positive deal and bank our 100 pips. The sell is now however is carrying a loss of -100 pips. The grid system requires one to ensure that the trader can cash in on any movement in the Forex market. To do this one would again enter into a buy (buy 2) and a sell (sell 2) deal at this level (level 1.0200).
Now, for convenience let us say that the price moves back to level 1.0100 (the starting point).
The second sell (sell 2) has now gone positive by 100 pips and the second buy (buy 2) is making a loss of -100 pips. According to the grid trading rules you would cash the sell (sell 2) in and another 100 pips will be added to your account. That brings the grand total cashed in at this point to 200 pips (buy 1 and sell 2). At this stage the first sell that is active has moved from level 1.0200 where it was -100 to level 1.0100 where it is now breaking even.
The 4 transactions added together now incredibly show a gain:- 1st buy (buy 1) cashed in +100, 2nd sell (sell 2) cashed in +100, 1st sell (sell 1) now breaking even and the 2nd buy (buy 2) is -100. This gives an overall a gain of 100 pips in total. We can liquidate all the deals and have some champagne as we have made a profit of 100 pips.
Please make sure you understand the mathematics behind the activities discussed above. You may have to reread and draw the movements on a piece of paper to make sure you understand the concept.
This formation is the 100% retracement formation where the price goes up to a grid level and then returns back to the starting grid level and results in a nice profit for the forex trader. There are many other market movements that turn this strange Buy and Sell at the same time activity into profits. The next article will cover the 50% retractment formation which produces the same amount of profit.
There will be much more on the no stop, hedged grid trading system in future articles in this directory. Do not miss them, whatever you do.
zaterdag 25 juli 2009
3 Ways To Get Your Free Annual Credit Report
Yes, you can now get your credit report without paying a dime. And unlike before, now it is truly free. No longer do you have to sign up for a "free" credit report by signing up for "credit monitoring protection service" for a low annual fee of $79 a year! The days of dodging the annoying charges and service fees for a free credit report are over.
Under the 2003 Fair and Accurate Credit Transactions Act, you have the right to a free copy of your credit report within a 12 month period from the big three credit report bureaus (Experian, Equifax and TransUnion).
The goal of this new government act is to ensure that Americans have the right to stay informed about what these three credit reporting bureaus say about you without having to pay for it. Since identity theft, fraud and errors are quite common today, why should you have to pay for a copy of a report to fight back against these problems?
Here are the 3 ways to get your free annual credit report:
The three credit reporting agencies have created a website to request your annual credit report.
1) Go to www.annualcreditreport.com
2) Call (877) 322-8228 to request your free credit report.
3) Complete a form from the Federal Trade Comission, http://www.ftc.gov/bcp/conline/include/requestformfinal.pdf and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
If you go directly to the three agencies or use any other type of service you may end up having to pay or sign up for the subscription services I mentioned above! Make sure you use one of the 3 methods I have listed to get your annual free credit report.
You can get the reports from all 3 agencies at once or stagger the reports from each one during the course of 1 year. The advantage of staggering the reports that you receive is to keep track of how any major changes in your financial picture affect what is on your credit report. For example, if you plan on getting a second mortgage over the coming year, or applying for student loans, ect. it might be wise to get a report before and after these major events!
This new Act does not supplant the other methods you can take advantage of to receive a free credit report. If you are applying for unemployment or been denied a loan, or need a credit report in order to get a job, you still have the right to obtain a free credit report.
Take advantage of this new government regulation and make sure all of the information listed by all three credit reporting agencies are correct. Any errors or omissions can reduce your credit score and end up costing you a lot of money when you apply for any type of credit.
Under the 2003 Fair and Accurate Credit Transactions Act, you have the right to a free copy of your credit report within a 12 month period from the big three credit report bureaus (Experian, Equifax and TransUnion).
The goal of this new government act is to ensure that Americans have the right to stay informed about what these three credit reporting bureaus say about you without having to pay for it. Since identity theft, fraud and errors are quite common today, why should you have to pay for a copy of a report to fight back against these problems?
Here are the 3 ways to get your free annual credit report:
The three credit reporting agencies have created a website to request your annual credit report.
1) Go to www.annualcreditreport.com
2) Call (877) 322-8228 to request your free credit report.
3) Complete a form from the Federal Trade Comission, http://www.ftc.gov/bcp/conline/include/requestformfinal.pdf and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
If you go directly to the three agencies or use any other type of service you may end up having to pay or sign up for the subscription services I mentioned above! Make sure you use one of the 3 methods I have listed to get your annual free credit report.
You can get the reports from all 3 agencies at once or stagger the reports from each one during the course of 1 year. The advantage of staggering the reports that you receive is to keep track of how any major changes in your financial picture affect what is on your credit report. For example, if you plan on getting a second mortgage over the coming year, or applying for student loans, ect. it might be wise to get a report before and after these major events!
This new Act does not supplant the other methods you can take advantage of to receive a free credit report. If you are applying for unemployment or been denied a loan, or need a credit report in order to get a job, you still have the right to obtain a free credit report.
Take advantage of this new government regulation and make sure all of the information listed by all three credit reporting agencies are correct. Any errors or omissions can reduce your credit score and end up costing you a lot of money when you apply for any type of credit.
vrijdag 24 juli 2009
5 Easy Steps to Rebuild Your Credit after Bankruptcy
Bankruptcy often is the last ultimate solution for many debtors who have unbearable debts. With filing a bankruptcy, you will get rid of your debts instantly and relief you from the harassing call of your creditors.
Although bankruptcy has many undesirable consequences such as your bad credit record will remain on your credit report for 7-10 years, but with a little work, you can improve your credit even before these negative records expire. Here are five easy steps you can take to rebuild your credit.
Step 1: Get to know your current credit status
The first step to rebuilding your credit is to look at exactly where you stand. Order all your three credit reports from those three national credit bureaus: TransUnion, Equifax, and Experian. You can order these reports online, it easy and secure.
Print each report and review it closely. Try to understand the information listed in your credit reports and highlight any negative records or inaccuracies that are damaging your credit score.
Step 2: Check the expiration dates
By law, your bad credit record will remain in your credit report for 7 to 10 years, but the exact expiry date might be different among these 3 reports. Your bad record will still remain at your credit report although you have pay off your old debts and discharge from bankruptcy.
Look up the exact date of each of bad records including judgments, liens, charge-offs, late payments, bankruptcy filings, and collection records. You will likely see a major improvement in your credit score when these records expire.
Step 3: Request For Correct On Any Inaccurate Records
If you find inaccurate records, fraudulent accounts, or records that should have expired on you credit reports, you have the right to send a separate dispute letter to each of the credit bureaus to correct your Equifax, Experian, and TransUnion records. The bureaus will initial a 30 days investigation to see whether your requests are valid and if so, they will correct the inaccuracy in your credit report.
Just one note, don't try to dispute any of the positive information listed in your credit reports and it is a waste of time to attempt to dispute these records. Disputing positive information may actually harm your credit scores.
Step 4: Start to create good credits
Since there is no way to remove your bad record from your credit report, the best way to improve your credit score is to add good credits and building up your credit from there. You can easy do this by open up a new credit card from banks like Orchard Bank (Orchard bank has credit card plan designed specially to help people rebuild their credit after bankruptcy).
Use this new credit card responsibly and make the monthly payment timely; with this you are building new history of good credit behavior on your credit report. Over time, you may want to open additional credit card accounts or obtain a loan to boost your credit score even higher.
Step 5: Monitor your progress
Subscribe to a credit card monitoring service or get a credit card monitoring software and use it to track your credit score progress closely. Your credit score should improve steadily as you continue to use credit responsibly and add new positive information to your credit reports.
Summary
Bankruptcy does not need to chain you to bad credit for the next seven to ten years, but you have to be proactive in order to recover and rebuild your credit.
Although bankruptcy has many undesirable consequences such as your bad credit record will remain on your credit report for 7-10 years, but with a little work, you can improve your credit even before these negative records expire. Here are five easy steps you can take to rebuild your credit.
Step 1: Get to know your current credit status
The first step to rebuilding your credit is to look at exactly where you stand. Order all your three credit reports from those three national credit bureaus: TransUnion, Equifax, and Experian. You can order these reports online, it easy and secure.
Print each report and review it closely. Try to understand the information listed in your credit reports and highlight any negative records or inaccuracies that are damaging your credit score.
Step 2: Check the expiration dates
By law, your bad credit record will remain in your credit report for 7 to 10 years, but the exact expiry date might be different among these 3 reports. Your bad record will still remain at your credit report although you have pay off your old debts and discharge from bankruptcy.
Look up the exact date of each of bad records including judgments, liens, charge-offs, late payments, bankruptcy filings, and collection records. You will likely see a major improvement in your credit score when these records expire.
Step 3: Request For Correct On Any Inaccurate Records
If you find inaccurate records, fraudulent accounts, or records that should have expired on you credit reports, you have the right to send a separate dispute letter to each of the credit bureaus to correct your Equifax, Experian, and TransUnion records. The bureaus will initial a 30 days investigation to see whether your requests are valid and if so, they will correct the inaccuracy in your credit report.
Just one note, don't try to dispute any of the positive information listed in your credit reports and it is a waste of time to attempt to dispute these records. Disputing positive information may actually harm your credit scores.
Step 4: Start to create good credits
Since there is no way to remove your bad record from your credit report, the best way to improve your credit score is to add good credits and building up your credit from there. You can easy do this by open up a new credit card from banks like Orchard Bank (Orchard bank has credit card plan designed specially to help people rebuild their credit after bankruptcy).
Use this new credit card responsibly and make the monthly payment timely; with this you are building new history of good credit behavior on your credit report. Over time, you may want to open additional credit card accounts or obtain a loan to boost your credit score even higher.
Step 5: Monitor your progress
Subscribe to a credit card monitoring service or get a credit card monitoring software and use it to track your credit score progress closely. Your credit score should improve steadily as you continue to use credit responsibly and add new positive information to your credit reports.
Summary
Bankruptcy does not need to chain you to bad credit for the next seven to ten years, but you have to be proactive in order to recover and rebuild your credit.
donderdag 23 juli 2009
How Bankruptcy Affects Student Loans
The vast majority of government student loans cannot be gotten rid of easily, even filing for bankruptcy will not resolve these debts. The only way that these types of loans can be taken care of in bankruptcy is if you can prove that they are a substantial hardship on you and your finances and this is a pretty hard ting to do in most cases, especially since the rest of your debts will be taken care of with the bankruptcy filing.
If you do wish to try to get your student loans discharged you will have to prove that there is no way you will be able to pay this debt according to the schedule that has been laid out, that even in time you will still not be able to pay it according to the same schedule and that you have tried unsuccessfully in the past. A good faith effort is necessary. This means that you have not tried lying to your creditors and that you are working as much as you can to get the money that you need but are still coming up short.
What can be discharged and what cannot can also fall directly onto the shoulders of the bankruptcy judge. If you are lucky and you get a judge that allows for these discharges then you might just get away without having to pay off these loans, or at least part of them. In many places it is left up to the judge to go with their own gut feeling.
Keep in mind that while it is true that lenders cannot be sending you bills to pay while you are in bankruptcy, they have to wait until it is over, that does not by any means mean that interest will not be accruing on your loan. And since you do not have to pay, most people don't and once they come out of bankruptcy they find themselves in a whole new batch of trouble than when they went in.
Student loans are flexible loans, they have many more options than some other loans out there. If you find yourself having trouble paying off your student loans let the lender know. Tell them exactly what the problem is and they will most likely be willing to work with you to get around it. If the plan and the schedule that you have set is just not a possible one for you to follow then talk to the lender about coming up with a new one. The thought of contacting lenders scares most people but it works, you are not going to get in more trouble, in fact what you are doing is heading trouble off at the pass. If you have defaulted on your loan you will even find such programs as rehabilitation programs that help you get you out of default. These programs are great, all you have to do is show your good faith effort by paying a lower amount for a set period of time. If you manage to stick to this it will show the lender that you can be depended upon and the lender can take you out of default.
Another route that many people take instead of bankruptcy is loan consolidation. The Direct Loan Servicing Center, working under the auspices of the Department of Education will give you several different options to choose from if you need some help to pay off your loans. Their standard plan is a great one, it is simple and it is effective. All you have to do is pay $50 each and every month until the balance is paid off in full or until 10 years is up, whichever comes first. There is another plan which will keep you paying for anywhere from 12 to 30 years. While this is a great option for those who just don't have much money at all it is one of the most expensive ones simply because 30 years of interest really adds up to a significant amount of money. These are just a couple of the payment plans that you can find available to you. If you are in financial trouble talk to your lender! So you might not be able to resolve your debt completely all at once, at least there are options out there that will give you some peace of mind.
If you do wish to try to get your student loans discharged you will have to prove that there is no way you will be able to pay this debt according to the schedule that has been laid out, that even in time you will still not be able to pay it according to the same schedule and that you have tried unsuccessfully in the past. A good faith effort is necessary. This means that you have not tried lying to your creditors and that you are working as much as you can to get the money that you need but are still coming up short.
What can be discharged and what cannot can also fall directly onto the shoulders of the bankruptcy judge. If you are lucky and you get a judge that allows for these discharges then you might just get away without having to pay off these loans, or at least part of them. In many places it is left up to the judge to go with their own gut feeling.
Keep in mind that while it is true that lenders cannot be sending you bills to pay while you are in bankruptcy, they have to wait until it is over, that does not by any means mean that interest will not be accruing on your loan. And since you do not have to pay, most people don't and once they come out of bankruptcy they find themselves in a whole new batch of trouble than when they went in.
Student loans are flexible loans, they have many more options than some other loans out there. If you find yourself having trouble paying off your student loans let the lender know. Tell them exactly what the problem is and they will most likely be willing to work with you to get around it. If the plan and the schedule that you have set is just not a possible one for you to follow then talk to the lender about coming up with a new one. The thought of contacting lenders scares most people but it works, you are not going to get in more trouble, in fact what you are doing is heading trouble off at the pass. If you have defaulted on your loan you will even find such programs as rehabilitation programs that help you get you out of default. These programs are great, all you have to do is show your good faith effort by paying a lower amount for a set period of time. If you manage to stick to this it will show the lender that you can be depended upon and the lender can take you out of default.
Another route that many people take instead of bankruptcy is loan consolidation. The Direct Loan Servicing Center, working under the auspices of the Department of Education will give you several different options to choose from if you need some help to pay off your loans. Their standard plan is a great one, it is simple and it is effective. All you have to do is pay $50 each and every month until the balance is paid off in full or until 10 years is up, whichever comes first. There is another plan which will keep you paying for anywhere from 12 to 30 years. While this is a great option for those who just don't have much money at all it is one of the most expensive ones simply because 30 years of interest really adds up to a significant amount of money. These are just a couple of the payment plans that you can find available to you. If you are in financial trouble talk to your lender! So you might not be able to resolve your debt completely all at once, at least there are options out there that will give you some peace of mind.
woensdag 22 juli 2009
The importance of Forex trading signals
Why are Forex trading signals important? After you are happy with your 'demo' account, you will want to start trading. However, the truth is that you would not have trained yourself properly in Forex trading. These services are offered by either brokers or professional traders or some market analysts through desktop or pager alerts, emails and SMS. They may provide additional automated alerts also, it is important to look at any extra features provided. You have to pay either a quarterly or monthly fee depending on the broker you choose. These fee may vary from one Forex signal service provider to another, however, they would range anywhere between $50 and $250.
It is always better to subscribe to these Forex trading signals as you need not spend time in monitoring the market for entry and exit points. However, it is also essential to analyze the track record of the Forex trading signal provider before subscribing, to ensure that the majority of the time, they were right, and the track record is reliable.
One of the main advantages of using Forex trading signals is that you need not worry about analyzing the market. This is taken care of the Forex trading signal providers. They also tell you the entry and exit point by monitoring and analyzing the market.
As I said, this is a paid service and in general, they offer Forex signal services to leading currency pairs like EUR/USD, GBP/USD, and USD/JPY. For some providers, you may have to pay an additional fee to get signal services for other currencies or pairs that are not used often or in other words, rare. Few providers will also provide you with the charts that they use for taking these market decisions.
Even though, Forex trading signals help you in minimizing risks or losses in Forex trading, it is vital that you have self-confidence that you can do good trading and can gain profits. Never do trading when you feel insecure.
I would recommend subscribing to these Forex trading signal services at least till you have gained confidence in trading or if you do not have the time to monitor and analyze the market. It can help you develop your trading strategy as you observe how another, successful trader operates.
Happy trading!
It is always better to subscribe to these Forex trading signals as you need not spend time in monitoring the market for entry and exit points. However, it is also essential to analyze the track record of the Forex trading signal provider before subscribing, to ensure that the majority of the time, they were right, and the track record is reliable.
One of the main advantages of using Forex trading signals is that you need not worry about analyzing the market. This is taken care of the Forex trading signal providers. They also tell you the entry and exit point by monitoring and analyzing the market.
As I said, this is a paid service and in general, they offer Forex signal services to leading currency pairs like EUR/USD, GBP/USD, and USD/JPY. For some providers, you may have to pay an additional fee to get signal services for other currencies or pairs that are not used often or in other words, rare. Few providers will also provide you with the charts that they use for taking these market decisions.
Even though, Forex trading signals help you in minimizing risks or losses in Forex trading, it is vital that you have self-confidence that you can do good trading and can gain profits. Never do trading when you feel insecure.
I would recommend subscribing to these Forex trading signal services at least till you have gained confidence in trading or if you do not have the time to monitor and analyze the market. It can help you develop your trading strategy as you observe how another, successful trader operates.
Happy trading!
dinsdag 21 juli 2009
Selling Your Property On The Internet
Should you sell your property on the internet? This is a common question with an equally common answer – YOU MUST!
Selling Your Property On The Internet
For those looking to sell a property themselves, many ask themselves whether or not they should sell on the internet. Well, the simple answer is, if you don’t list it on the internet then you are only hurting yourself. Just like magazines and newspapers, the internet provides a great source for homeowners to draw attention to the property that they have for sale. In fact, the internet is now the dominate media where homebuyers look for properties with over 70 percent reporting as much.
What is more is that the internet is an incredibly easy place to list a property. The typical process involves opening an account, uploading as much description as possible and uploading photographs. Much like a dating site, the more information and photographs you post, the quicker your property will attract interest from potential buyers. This is the digital equivalent of curb appeal.
There are a number of sites you can use to list your property for sale on the Internet. All basically offer the same listing characteristics, but pricing is radically different. Some sites, such as ours mentioned below, offer a free first month listing. Others try to get you to commit to a flat fee for a year with prices as high as $750. There are plenty of others as well that offer prices ranging between these two extremes.
In general, you do not want to commit to the flat fee for a year listing. Although the real estate market has cooled, it is still roaring hot from a historical perspective. Practically speaking, property may not sell in a week any more, but it does sell in the first 90 days if appropriately priced and so on. Given this fact, it makes little sense to commit to a year listing.
Regardless of the approach you take, the web has radically changed the game in real estate. Online sites offer greater access to the pool of buyers and, in many cases, make the need for real estate agents a superfluous one.
Selling Your Property On The Internet
For those looking to sell a property themselves, many ask themselves whether or not they should sell on the internet. Well, the simple answer is, if you don’t list it on the internet then you are only hurting yourself. Just like magazines and newspapers, the internet provides a great source for homeowners to draw attention to the property that they have for sale. In fact, the internet is now the dominate media where homebuyers look for properties with over 70 percent reporting as much.
What is more is that the internet is an incredibly easy place to list a property. The typical process involves opening an account, uploading as much description as possible and uploading photographs. Much like a dating site, the more information and photographs you post, the quicker your property will attract interest from potential buyers. This is the digital equivalent of curb appeal.
There are a number of sites you can use to list your property for sale on the Internet. All basically offer the same listing characteristics, but pricing is radically different. Some sites, such as ours mentioned below, offer a free first month listing. Others try to get you to commit to a flat fee for a year with prices as high as $750. There are plenty of others as well that offer prices ranging between these two extremes.
In general, you do not want to commit to the flat fee for a year listing. Although the real estate market has cooled, it is still roaring hot from a historical perspective. Practically speaking, property may not sell in a week any more, but it does sell in the first 90 days if appropriately priced and so on. Given this fact, it makes little sense to commit to a year listing.
Regardless of the approach you take, the web has radically changed the game in real estate. Online sites offer greater access to the pool of buyers and, in many cases, make the need for real estate agents a superfluous one.
maandag 20 juli 2009
The Four Classifications Of A Public Retirement System
It is that time in life that we all look forward to. It is time to sit and relax and no longer have to worry about catching the bus or missing lunch just to beat the deadline. It is that point in our lives that the challenges of a planned working schedule is modified into a more relaxing pace, away from the hustle and bustle of the everyday struggle to work.
It is the day of retirement.
Basically, retirement systems refer to the methods or processes, in which the employees can begin use of their retirement benefits depending on the nature of their job and the amount of their take home pay.
In the United States, the retirement system may vary from one state to another state. However, every retirement system functions and operates just the same.
The retirement system is categorically divided into four different retirement systems. These are the Judges Retirement System, State Employees, School Employees, and the State Police Employees Retirement Systems. Every category has it own system and each of them ha its functions as well as restrictions.
To know more about the four retirement systems, here are some facts that are very helpful to those who need it.
1. Judges Retirement System
This type of retirement system refers to the retirement benefits entitled to judges. The rules and regulations stipulated within the provisions of Judges Retirement System are in conformity with the services rendered by the judges to their work.
2. State Employees Retirement System
This particular retirement system aims to provide those who have rendered adequate services to the state, thus, they are entitled to special privileges that are only applicable to state employees.
These retirement benefits are exclusive for people in the state government.
3. School Employees Retirement System
Any benefits that are entitled to teacher and educators are those that fall under the School Employees System. Benefits and profits are gained during the retirement.
4. State Police Employees Retirement System
This retirement system refers to the system that is responsible in organizing the appropriate services and benefits that are entitled for people who have sufficiently tendered services as a police officer until such time that the concerned person has already reached retirement stage.
Boiled down, retirement systems are specially made to make life more meaningful when people are already on their retirement age.
It is the day of retirement.
Basically, retirement systems refer to the methods or processes, in which the employees can begin use of their retirement benefits depending on the nature of their job and the amount of their take home pay.
In the United States, the retirement system may vary from one state to another state. However, every retirement system functions and operates just the same.
The retirement system is categorically divided into four different retirement systems. These are the Judges Retirement System, State Employees, School Employees, and the State Police Employees Retirement Systems. Every category has it own system and each of them ha its functions as well as restrictions.
To know more about the four retirement systems, here are some facts that are very helpful to those who need it.
1. Judges Retirement System
This type of retirement system refers to the retirement benefits entitled to judges. The rules and regulations stipulated within the provisions of Judges Retirement System are in conformity with the services rendered by the judges to their work.
2. State Employees Retirement System
This particular retirement system aims to provide those who have rendered adequate services to the state, thus, they are entitled to special privileges that are only applicable to state employees.
These retirement benefits are exclusive for people in the state government.
3. School Employees Retirement System
Any benefits that are entitled to teacher and educators are those that fall under the School Employees System. Benefits and profits are gained during the retirement.
4. State Police Employees Retirement System
This retirement system refers to the system that is responsible in organizing the appropriate services and benefits that are entitled for people who have sufficiently tendered services as a police officer until such time that the concerned person has already reached retirement stage.
Boiled down, retirement systems are specially made to make life more meaningful when people are already on their retirement age.
zondag 19 juli 2009
One Stop Shopping: Stockleaf is Newest Resource for Investors
If Wal-Mart is the supercenter for retail shoppers, then new arrival Stockleaf is the supercenter for investors. Where else can one go to get up-to-the minute news on any publicly traded company from every financial news site available—and have it all on one page at one time?
Until November 2007, the answer to that question was… nowhere. But stockleaf.com sprung up on the cyber-scene and all that changed. The beauty of Stockleaf is in its simplicity. Type in a stock symbol and Presto! You'll get links to all the recent news articles from Y! Finance, MSN Money, Google Finance, Forbes, Smart Money, and Seeking Alpha. You'll also get the stock's opening price, previous close, dividend information, P/E, and 52-week range. Click on a news link and it'll open in a new window—allowing you to navigate easily back and forth.
As if all that weren't enticing enough to get those fingers clicking away on your keyboard, you can also check out feeds from Financial News sites, blogs, or see them sorted by subject (ie, mutual funds). And all this is updated in real time, every day, making it easy to stay on top of the stocks you own, want to own, or simply want to know more about.
Let's face it. The internet is supposed to make our lives easier, not challenge us to a quest of hunting down the most applicable financial news tethered to a search engine. With Stockleaf, it's finally doing what it was designed to do—make us more efficient. Whether you're a day trader, a broker, or the type of person whose mind automatically converted "Wal-Mart" to "WMT" when you read that first sentence, Stockleaf puts you in the driver's seat, bringing the world of information and reliable news sources to your fingertips.
Go anywhere you want, but start with Stockleaf. It's worth the bookmark. Think of it as your daily guide, custom-made just for you. If time is money, then efficiency is priceless.
Until November 2007, the answer to that question was… nowhere. But stockleaf.com sprung up on the cyber-scene and all that changed. The beauty of Stockleaf is in its simplicity. Type in a stock symbol and Presto! You'll get links to all the recent news articles from Y! Finance, MSN Money, Google Finance, Forbes, Smart Money, and Seeking Alpha. You'll also get the stock's opening price, previous close, dividend information, P/E, and 52-week range. Click on a news link and it'll open in a new window—allowing you to navigate easily back and forth.
As if all that weren't enticing enough to get those fingers clicking away on your keyboard, you can also check out feeds from Financial News sites, blogs, or see them sorted by subject (ie, mutual funds). And all this is updated in real time, every day, making it easy to stay on top of the stocks you own, want to own, or simply want to know more about.
Let's face it. The internet is supposed to make our lives easier, not challenge us to a quest of hunting down the most applicable financial news tethered to a search engine. With Stockleaf, it's finally doing what it was designed to do—make us more efficient. Whether you're a day trader, a broker, or the type of person whose mind automatically converted "Wal-Mart" to "WMT" when you read that first sentence, Stockleaf puts you in the driver's seat, bringing the world of information and reliable news sources to your fingertips.
Go anywhere you want, but start with Stockleaf. It's worth the bookmark. Think of it as your daily guide, custom-made just for you. If time is money, then efficiency is priceless.
zaterdag 18 juli 2009
Earn Money Now!
What are you waiting for? Haven't you realized that the future is on the internet? Whether it is online marketing or simply working for companies that are computer based with employees that work remotely. If you don't do it you may always regret it because sooner or later you will be force to make the switch but you won't be the master of your own domain like you are now.
Another huge advantage to this type of job are that you don't have to worry about an actual physical product whether it be the storage, distribution, or tech support for it. Most often you earn money via commissions for selling other people's products. You also aren't limited by geography in your market. You can sell to people in Guam just as easily (other than maybe language barrier) as to your neighbor. The web allows you morepotential diversity of cash flow than your typical job does as well. If one channel of income dries up you will typically have 2 or 5 or 13 other sources to fallback on while you repair or replace the first.
So what are the other advantages to having the ability to earn money online? Well there are several! There is increased ability to automate and therefore be working even while, you are sleeping. You also don't have to work in the typical and uncomfortable cubicle. You can work when you want which lends more flexibility to take that needed vacation when you need it rather than simply when you can so that you don’t miss a busy week of work (after all isn’t that the idea of a vacation?). You can also work where you want--at home, in the coffee shop, or in Belize for that matter. You can also (maybe most importantly to me) wear what you want. Gone are the days of slow suffocation for the sake of the status quo wearing ridiculous ties.
So this sounds good right? Is there something you waiting for? Oh...you think that the initial risk of quitting your job to earn money online is too high? Well then don't quit your career! You can easily maintain both a normal job and an additional income at the same time and you will find very quickly that you have nothing to fear. What about startup? Well depending on how you start some (surveys, party poker, etc.) have very little cost assuming you already have a decent computer and connection to the internet. Other cheap options include the online auction sites. Do your self a favor and don't wait, now is your chance to beat the impending stampede and at your own level of comfort.
Another huge advantage to this type of job are that you don't have to worry about an actual physical product whether it be the storage, distribution, or tech support for it. Most often you earn money via commissions for selling other people's products. You also aren't limited by geography in your market. You can sell to people in Guam just as easily (other than maybe language barrier) as to your neighbor. The web allows you morepotential diversity of cash flow than your typical job does as well. If one channel of income dries up you will typically have 2 or 5 or 13 other sources to fallback on while you repair or replace the first.
So what are the other advantages to having the ability to earn money online? Well there are several! There is increased ability to automate and therefore be working even while, you are sleeping. You also don't have to work in the typical and uncomfortable cubicle. You can work when you want which lends more flexibility to take that needed vacation when you need it rather than simply when you can so that you don’t miss a busy week of work (after all isn’t that the idea of a vacation?). You can also work where you want--at home, in the coffee shop, or in Belize for that matter. You can also (maybe most importantly to me) wear what you want. Gone are the days of slow suffocation for the sake of the status quo wearing ridiculous ties.
So this sounds good right? Is there something you waiting for? Oh...you think that the initial risk of quitting your job to earn money online is too high? Well then don't quit your career! You can easily maintain both a normal job and an additional income at the same time and you will find very quickly that you have nothing to fear. What about startup? Well depending on how you start some (surveys, party poker, etc.) have very little cost assuming you already have a decent computer and connection to the internet. Other cheap options include the online auction sites. Do your self a favor and don't wait, now is your chance to beat the impending stampede and at your own level of comfort.
vrijdag 17 juli 2009
Important Facts On Direct Deposit Cash Advances
You’ve probably heard a lot of talk about direct deposit cash advances. Also known as payday loans or fast cash, these types of advances can really help out when you’re in a bind. Here are a few important facts on direct deposit cash advances you might want to know.
What they’re not.
Direct deposit cash advances are not considered secured loans in the sense that you won’t be required to designate an asset such as your home or your car as collateral before you’ll be approved. Generally, you need only provide employment information and a paycheck. The cash advance process doesn’t require completion of lengthy application forms either. In fact, most application processes are paperless and can be completed right online.
Approval takes just minutes.
In most cases direct deposit cash advances can be approved in less than 30 minutes. Most cash advance companies have only a few requirements: you must be at least 18 years old; you must have a bank account and; you must have had the same job for at least 3 months. Sometimes another requirement is that you earn a certain net salary. But there’s no waiting for a background check or a check of your creditworthiness.
Money is transmitted electronically.
That’s right. Once you’re approved for direct deposit cash advances, you need do nothing more. The approved loan amount will automatically be added to your bank account balance as soon as the funds have been transmitted. If your cash advance request is approved on a weekday, you’ll generally have the funds in your bank account within 24-hours where they’ll be ready for your use. When you apply on weekends or holidays you typically have to wait until the next business day. Most importantly, you won’t have to waste time waiting in line to cash a check because paper checks aren’t used with direct deposit.
You choose the cash advance amount you need.
Direct deposit cash advances typically are available in increments of $100. From a low of $100 to a high of $1,000 and sometimes more, you select the amount you need during the application process. Some cash advance lenders may not approve the full amount the first time you apply. However, the amount can generally be increased with every satisfactory cash advance repayment.
Direct deposit is preferred.
Most cash advance companies only allow direct depositing of funds. Sometimes an alternate arrangement can be worked out, but it takes more time because it usually involves many more steps. Direct deposit benefits everyone involved in the process. In fact, it’s the safest and fastest way to get the money when you need it.
Many are taking advantage of direct deposit cash advances
It does not matter who you are. What matters is that you need help getting out of a short-term financial crunch. Those applying for direct deposit cash advances include men and women, homeowners and renters, married individuals and singles, those with good credit or bad, persons of every race, and professionals as well as students.
What they’re not.
Direct deposit cash advances are not considered secured loans in the sense that you won’t be required to designate an asset such as your home or your car as collateral before you’ll be approved. Generally, you need only provide employment information and a paycheck. The cash advance process doesn’t require completion of lengthy application forms either. In fact, most application processes are paperless and can be completed right online.
Approval takes just minutes.
In most cases direct deposit cash advances can be approved in less than 30 minutes. Most cash advance companies have only a few requirements: you must be at least 18 years old; you must have a bank account and; you must have had the same job for at least 3 months. Sometimes another requirement is that you earn a certain net salary. But there’s no waiting for a background check or a check of your creditworthiness.
Money is transmitted electronically.
That’s right. Once you’re approved for direct deposit cash advances, you need do nothing more. The approved loan amount will automatically be added to your bank account balance as soon as the funds have been transmitted. If your cash advance request is approved on a weekday, you’ll generally have the funds in your bank account within 24-hours where they’ll be ready for your use. When you apply on weekends or holidays you typically have to wait until the next business day. Most importantly, you won’t have to waste time waiting in line to cash a check because paper checks aren’t used with direct deposit.
You choose the cash advance amount you need.
Direct deposit cash advances typically are available in increments of $100. From a low of $100 to a high of $1,000 and sometimes more, you select the amount you need during the application process. Some cash advance lenders may not approve the full amount the first time you apply. However, the amount can generally be increased with every satisfactory cash advance repayment.
Direct deposit is preferred.
Most cash advance companies only allow direct depositing of funds. Sometimes an alternate arrangement can be worked out, but it takes more time because it usually involves many more steps. Direct deposit benefits everyone involved in the process. In fact, it’s the safest and fastest way to get the money when you need it.
Many are taking advantage of direct deposit cash advances
It does not matter who you are. What matters is that you need help getting out of a short-term financial crunch. Those applying for direct deposit cash advances include men and women, homeowners and renters, married individuals and singles, those with good credit or bad, persons of every race, and professionals as well as students.
donderdag 16 juli 2009
Alternatives To Filing Bankruptcy?
There is just no easy way to get out of debt, you have to face up to the consequences. A bankruptcy is not always the answer, as the effects are long lasting. There are four ways to handle debts that are out of control, listed in best to worst in regards to the effect it will have on your credit:
If your credit isn't in terrible shape, can you reduce your other expenses, even if it means making hard choices or just change your lifestyle to fit your income? Some ways to do this:
Alternatives:
Selling the second carPulling equity out of your homeApplying for a non secured signature loanObtaining a loan from a relativeSelling your home and paying off your debts with the proceeds and then rentingCashing out your 401K/retirement benefitsSelling family heirlooms, jewelry, etc…
Filing Bankruptcy - Final SolutionIf your credit is already gone or one of the above isn't an option, go through Consumer Credit Counseling Services. Check your yellow pages for the local number. In this way you're paying off your debts as if you were in a Chapter 13 bankruptcy, but you don't file a bankruptcy.
If CCCS won't take you, you may want to consider bankruptcy. Filing a Chapter 13 takes longer, but your credit is in a little better standing than if you file a Chapter 7. In Chapter 13 you are given up to 5 years to pay off your debts. The disadvantage is that you're in bankruptcy for up to 5 years plus your credit report shows your bankruptcy for 7 more years after you have finished paying off your debts.
If you are so far in debt that you can never repay it, then the best solution may be a Chapter 7 bankruptcy. Chapter 7 is the least desirable credit wise, but you are typically out of bankruptcy in 6 months and you don't have to repay any debt.
Disadvantages of Filing BankruptcyThe disadvantage is that this shows on your credit report for 10 years from the date of filing your bankruptcy, and creditors are starting to tighten their credit requirements, and you may have a tough time getting future financing. Depending upon how complicated your financial situation is, you may want to consult a lawyer before proceeding.
There is no magic solution. Don't believe anyone who tells you otherwise.
If your credit isn't in terrible shape, can you reduce your other expenses, even if it means making hard choices or just change your lifestyle to fit your income? Some ways to do this:
Alternatives:
Selling the second carPulling equity out of your homeApplying for a non secured signature loanObtaining a loan from a relativeSelling your home and paying off your debts with the proceeds and then rentingCashing out your 401K/retirement benefitsSelling family heirlooms, jewelry, etc…
Filing Bankruptcy - Final SolutionIf your credit is already gone or one of the above isn't an option, go through Consumer Credit Counseling Services. Check your yellow pages for the local number. In this way you're paying off your debts as if you were in a Chapter 13 bankruptcy, but you don't file a bankruptcy.
If CCCS won't take you, you may want to consider bankruptcy. Filing a Chapter 13 takes longer, but your credit is in a little better standing than if you file a Chapter 7. In Chapter 13 you are given up to 5 years to pay off your debts. The disadvantage is that you're in bankruptcy for up to 5 years plus your credit report shows your bankruptcy for 7 more years after you have finished paying off your debts.
If you are so far in debt that you can never repay it, then the best solution may be a Chapter 7 bankruptcy. Chapter 7 is the least desirable credit wise, but you are typically out of bankruptcy in 6 months and you don't have to repay any debt.
Disadvantages of Filing BankruptcyThe disadvantage is that this shows on your credit report for 10 years from the date of filing your bankruptcy, and creditors are starting to tighten their credit requirements, and you may have a tough time getting future financing. Depending upon how complicated your financial situation is, you may want to consult a lawyer before proceeding.
There is no magic solution. Don't believe anyone who tells you otherwise.
woensdag 15 juli 2009
Financial Success Isn't Difficult
Financial success isn't a hard task to master. It simply takes dedication, hard work and a little old fashioned commitment.
But it also takes a little knowledge. Too many consumers are ignoring what are financial truths. They run up large amounts of debt just to appear successful to those around them. They surround themselves with things that only make them feel better for a minute.
They ignore the fact that a debt-free and well managed financial life is a wonderful way to eliminate stress, which is all too common in today's world.
What do you need to do to become financially successful?
First, you need to spend less than you earn. Sounds easy, but it really isn't. It is easier to spend less than it is to earn more. You simply have to cut your costs. You have to stop charging on your credit cards and you have to stop shopping. Look closely at where your money is going. Look at what you already have around you. Get all those projects completed before you buy things for a new project.
You have to have a budget and stick with it. Budgets don't tell you how to spend your money, they tell you how to save your money. You can easily see where your money is going. You can identify areas that you can cut back on. Then, you can set spending goals. A budget is a great way to challenge yourself. There is nothing better than saving more money than you thought you could. Surprise yourself with a budget that works.
From your budget, you should be able to find the money to start paying off that credit card debt. If you are severely in debt, you may need to get a second job and sell some things to get a head start. Stop using those cards and start paying them off. They are draining the life out of your finances on a daily basis.
You should be contributing to a retirement plan. Research your options and take advantage of them. Don't wait until tomorrow, it will be too late. Start now. When you pay off your debt, put that money to your retirement as well. Who knows -- you may be able to retire early.
Once you have your debt paid off you should have a savings plan. There are goals that you can set for your savings. You may want new furniture or to go on a vacation. You should also save at least three to six months of money to cover your monthly expenses in the case of an emergency. This will cushion your budget from any repairs, emergencies, illnesses or job losses that may happen.
Financial success isn't difficult. It is simply a habit that you have to nurture and maintain. Take the time to sit down and get started. Work on it until it becomes second nature. The more you work on it, the better you will become at it.
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