Short on cash?
If you are in this situation, you can take a sigh of relief because there is help. We are always available to individuals who need cash quickly to meet their financial responsibilities.
Why Choose Us
Have you been on benefits, felt that you are far away from your relatives, and know that it’s an impossible task to get to see your loved ones? Tippers, such as myself always wish there was a specialized lending service designed specifically for those of us on benefits.
Testing our food, doing our shopping, and essentially everything that a normal person does every day that involves money is something that we can generally rely on friends and relatives for. However, we go to work, earn money and then have to either spend then on necessities such as food and clothing, or worse still have to borrow money.
However, there are some things that are special and which can only be done by those of us on benefits. This is an area that the banks, building societies, and other lending services have no desire to be FEETFONE to.
For some strange reason, everyone seems to have an inherent Disability of being able to walk, talk, write, search the internet, or write a bedtime story. This somehow enables me to be the person that has to go online and try to find a lender, who may in his infinite wisdom, see if I can get one of their products in the High Street. Or who doesn’t feel like filling in the blanks in an online application form, and is happy to give me a £30,000 loan if I pay my broker’s fee to visit them. It is all a very easy process.
So what are these products? How much is a £30,000 loan going to cost me? How do I know that I am eligible? How do I know if I am being misused in this way? Well, inform your mortgage broker that you are on benefits. The mortgage broker can go online on DDE and try to find you a loan from one of the Payroll De assignment companies. If he can’t or won’t, then you can ring D DE Mortgage Broker and see if she or her team would be happy to help you by submitting your details and taking out a letter from them to tell your mortgage lenders/providers that you are an eligible client of theirs. You may have to pay DDE £30 to visit them, but it is a good, simple and straightforward way of ensuring that you are treated fairly when you want to borrow money.
So, how much money can an incidental relationship loan costs? Well, you will probably be looking at a maximum loan amount of £30,000, which will have a typical APR of about 17% to 18% depending on what you can afford to expect in terms of monthly repayments. However, you won’t be expected to repay this amount over the first few years, and you should have the option of a holiday break (most companies have between 3 and 5 years terms, so you can enjoy your break at considerably lower sums than the full amount). If you don’t enjoy your break and repay the amount over a longer period, they have the right to lock the amount down to the value of your house, so it’s a flexible repayment amount.
If you find yourself in a situation where you need to raise money, even though you have been on benefits then a relationship loan might be an option. But people who want to get a lot of money at short notice may find that a lender that only deals with mortgages is the right option. They are also likely to be better value in terms of interest rates, given that they don’t need to wait as long to get the money.
However, not everyone who is on benefits qualifies for a relationship loan, so if you are planning to borrow this way, make sure that you get independent advice from a financial adviser. They should have access to credit agencies, as well as access to the majority of the UK’s lenders. Of course, many people don’t have a lot of debt already and could use a bit of extra cash. Anyone who is stood down from work due to sickness or general lifestyle can qualify, but there are maximum limits on what money can be borrowed, so make sure you know the limit before you invest, which should be your fresher years after being on benefits. Also, only use the amount that you need initially, as part of your initial payment, as this gives you the opportunity to show your lender that you have capable and averse money management skills.
If you want to get this sort of money, and you have been on benefits, then I would recommend finding a lender who only deals with non-payment mortgages. Not only are they likely to have smaller maximum lending limits than mainstream lenders, but they will also be more sympathetic to your situation, withdrawing charges and prosecution charges, and they will be a lot more likely to give you good rates.
One of the most important parts of your financial life is the rating of your credit report. This information will tell the creditor what kind of risk you are. It will determine your credit and your loan rates. It includes payment history, accounts you are currently paying off, loans you have, and those you have had in the past. But one thing that many people do not realize is just how important that information is.
So how do you ensure that your credit information is correct? If you have ordered a copy of your report lately then you already know how it is difficult to get it corrected once it arrives. First of all, you need to take precautions. Make sure that what the report says is actually what it says. There have been plenty of cases where people have orders to get their reports sent to them and then the companies have failed to deliver and have issued a faulty report. The internet has a lot of information on the process of reporting errors, but the only sure-fire way to know if there has been an error is if you see an error yourself.
First of all, order a copy of your credit report. The three main companies are Equifax, Experian, and Transunion. You can get you free copies once annually. You may also need the reports in order to try to improve your report. Checking for errors is the best way to ensure that your report is error-free and that your ratings are as high as possible.
Once you have the information, you can take a close look at the information on your report. What you want to look for is any information that is wrong or does not belong to you. If you have recently paid off an account and it is still showing up on your report, it may be showing that you have not actually paid it off. There may be errors pertaining to your address like it should be showing, or you may have information on an account you do not have. You want to make sure these errors do not occur, so you should request that the companies make the necessary corrections.
After you look for errors, you may want to take a careful look at all your accounts. Are there any charges listed on your report that you know nothing about? Do you recognize any of your accounts, especially the ones with high balances? If you do recognize something, do not hesitate to contact the company and ask for information about your account. They may contact you with the information they have and will cause you to correct errors or raise your score, raising your score is a good thing. A high score is one of the easiest ways to get lumps sum at a time, while a good rating prevents a lot of anxiety when it comes to financing such as loans since you can fix your payments in a reasonable time.
When you know your credit score and what is listed on your report you can see how it is affecting your financial life and determine what kind of changes you want to make. If you know your rating is not up to par, make the necessary changes to get your rating where you want it.
Personal bankruptcy occurs when a person is not able to pay off his debts and has more liabilities than assets. There can be different types of filing personal bankruptcy. The most common filing bankruptcy is under chapter 7. Of all the personal bankruptcy filings, approximately 1.5 million were reported in 2009 just according to data from the US Bankruptcy Case onset database.
Chapter 7 is the type of filing that involves the liquidation of assets to pay off the creditors. If you are filing bankruptcy under chapter 7, there is a possibility that some of the non-exempt assets will be liquidated to pay off some of the debt. Other assets can be classified under various types of asset protection.
Chapter 7 will allow the case to be completed without a discharge. When the case is completed, the petitioner has no duty to repay the debts that he or she has incurred, generally speaking.
However, the person must have tried on a voluntary basis or the creditors may seek a repayment program that is normally part of the bankruptcy proceeding as part of the plan. However, not all the creditors may agree to it even though it is part of the plan. Then there is an allowance for some of the debts that cannot be discharged. The debtor makes a financial plan in accordance with his earnings and expenses. After that plan is approved by the court, the creditors are not entitled to them. The creditors under chapter 7 are not permitted to bring any legal action while the debtor is still within the scope of the bankruptcy program.
When you file for bankruptcy under chapter 7, it will not affect your profession and you are entitled to continue with your present employment. Moreover, you can be a qualified candidate by your professional tests even though the case is still pending.
The bankruptcy is a seven-year ordeal and you stand to be discharged from your case after your completion of almost three years. The bankruptcy will also prevent other creditors to chase you for debt.
When you file a case under chapter 7, or 7 concern, the main advantage is that your property is liquidated and the proceeds are distributed to the creditors. After the sale of your property, the creditors are told to make payment in proportion to the value of the remaining property by either liquidating the property or by taking a course of legal action. In place of filing under chapter 7, you can choose under 11 that has paid almost all the creditors of the debt. Under 11 is often referred to as “no-asset” bankruptcy. This type provides you with several alternatives to choose from as long as they are qualified. Your 3-year repayment program will begin only after you have paid all the creditors as well as provide the full repayment of all the debts.
While filing for bankruptcy under 11, you can payback for the payment of the creditors based on what your fund can pay considering your priority and all your assets that it owns. If the value of assets is greater than the value of your priority claims, you are given a repayment plan for more than the time. However, you will be discharged from your repayment program only if you achieve the full payback for your debts as scheduled in the repayment plan. If your assets are equal to or greater than the large value of your priority claims, you may be asked to pay the principal out of your own funds based on a plan that was devised based on your income.
However, is bankruptcy for you is an alternative that you may also consider. Bankruptcy is a decision of disgrace. You are susceptible to having your name appear in the paper as a bankrupt. The cases are public records. In case you see your name in the paper when it is not you, you are compelled to put it on the public record. A record of bankruptcy will make you ineligible to apply for any more public contracts or government assistance. Chapter 11 will allow you to rebuild your business and keep your business operating successfully after your bankruptcy. Chapter 11 allows you to rebuild your assets and slowly hand over profits to pay off creditors. If you apply for Chapter 11 and are accepted, the court may appoint an official monitor to ensure that the company is making profits. It allows your company to make profits slowly without having to pay off creditors. Whether you choose Chapter 11 or Chapter 7 bankruptcy, you can be discharged from your bankruptcy when your assets equal to the amount as determined by the court.
Private money lending is mostly when people lend their own money to professionally managed or investors real estate properties. Investors usually turn to private lending companies to fund their deals because the amount offered by a bank does not qualify for an unsecured loan or they are running out of time and cannot wait the usual three months to a year period for an unsecured loan. In such cases, the private lending companies act as a financial partner for the investors by providing capital to purchase these properties.
Private money lending companies provide attractive mortgage deals to potential home buyers. The mortgage offered by these lending companies is a lot cheaper than the local property market. They take a big risk in lending money to the first time home buyers because, in the recent past, many homebuyers have defaulted on their mortgages. These lenders have to offer generous loans to retain the trust of the investor.
The Hard Money Lending Companies are categorized as investment-grade banks that are registered with the Department of banking. To qualify, the investor must be a resident of this country and the money lending company has to be registered with the Department of escrow. A minimum deposit is required before the deal is closed.
Private money lending companies usually use two types of financing – hard money lending and commercial loans. The hard money lending companies borrow funds from investors. Commercial loans are provided by bank loans. Hard money lenders use some credit unions as sources for the funds. The interest rates are always slightly higher than the local banks.
Commercial loans are the major source of funds for most private hard money lending companies. Commercial loans are taken from banks and credit unions. In some cases, the suppliers may also use some other financial institutions like the Pawn Shops. The suppliers are in a better position to negotiate a lower interest rate with these financial institutions. The suppliers are in a better position to demand a reasonable price for the collateral.
There are some private money lending companies that lend online. The borrower applies for an online loan using his/her personal computer. There is no paperwork involved. An online form is submitted to receive the approval of the loan amount.
Money lending companies are offering commercial real estate loans for the first time in almost every state. The investors can choose from fixed-term commercial real estate loans to adjustable-rate commercial real estate loans. The borrowers can choose to get one or more financing options depending upon their needs and requirement. The maximum loan amount is only $75000.
Commercial real estate loans are classified into two types: one is a secured loan and the other is unsecured. Secured loans are for a larger amount and they can be renewed with additional amounts as and when required. For secured loans, the borrowers can choose to sell the property as a result of default repayment by the borrower. On the other hand, an unsecured loan is made for smaller amounts. The lending rates are much higher in the case of unsecured loans. Therefore, it is advisable to go through a professional real estate financing company.
Most of the hard money lenders are registered with government agencies and they follow strict legal regulations to ensure the safety of the borrowers. They use collateral to secure the loan amount with the potential of recovery in case of default. The hard money market has developed due to the increased number of individuals with capital to lend to individual investors. There are many private lending companies that provide competitive hard money loan products to meet individual investor needs.
Hard money lending companies also provide comprehensive financial information, including loan amount, terms, interest rates, collateral, and private lender’s reputation. Many private lenders provide various loan products such as buying down, mortgage refinances commercial real estate investment plans, tax liens, partnership deals, joint ventures, investment trusts, business plans, and more. It is important to compare loan quotes from different private lenders so that individuals can find the most suitable lending product.
There are many professional financial advisors, brokers, and bankers that provide assistance to individual investors to select the appropriate hard money lending product. It is important to choose a private money lending company that has sound experience and is backed by reliable financial institutions. It is advisable to compare loan quotes from several private money lenders before making any commitment. Most investors fail to get the best deal because of their lack of research and knowledge when it comes to selecting an appropriate private money lending company.
If you are considering purchasing a home or a car, or even just opening a credit card account, you should make yourself aware of the Truth in Lending Act, also known as the TILA. The Truth in Lending Act is a 1968 federal law that requires borrowers to make known certain information to potential customers before they utilize the borrowing services. The act is meant to make it easier and more standardized to shop for credit and to better educate consumers about the true costs of extending a line of credit.
TILA requires that the potential lender disclose all associated costs of borrowing money before they are able to extend a line of credit. These costs include:
- The annual percentage rate
- The loan’s terms
- The total cost of the loan to the borrower.
This information must be presented in a standardized format, using standardized terminology. The lender must also share information disseminated by the Federal Reserve Board that explains a consumer’s rights when borrowing money. In particular cases, lenders must provide additional materials. In the case of an Adjustable Rate Mortgage, for example, lenders must provide information to consumers about the terms of that particular type of mortgage. The Truth in Lending Act also sets limits on how creditors can advertise their credit services.
Lenders are responsible for complying with the terms of the Truth in Lending Act. They can be held monetarily responsible for misleading or not informing consumers. You should be aware of what information a lender is required to give you before you begin shopping for credit. A lender who does not provide this information is not only breaking the law but also likely a bad creditor to do business with. Always keep all documents that a lender has sent prior to and during the time you are drawing on a line of credit. These documents could be useful if you begin to suspect that you’ve been misled by your creditor.
If you have already purchased a home, car, or started a credit card and think that you have been misled by the credit company, you should contact an attorney who has experience in TILA cases. Just because you’re dissatisfied with the amount of money that you owe does not necessarily mean that you’ve been taken advantage of by a creditor. A real estate attorney, or one familiar with financial laws, can help assess if your claim is valid.
TILA cases often come to light when a bank begins the foreclosure process on a home. If your home is being foreclosed on because you are unable to make your payments, you should check with an attorney to assess your options. An attorney can help you determine if a bank’s violation of TILA may have led you into foreclosure.
Taking out a line of credit is always a serious business and, as a consumer, you should familiarize yourself with the terminology of borrowing, the terms of particular loans, and laws, such as the Truth in Lending Act that can protect you.