Monthly Archives: January 2016
When it comes to saving time and money, the internet is a great tool to use. No matter what you want to do in life, you can do it quicker and for less money online. Planning a vacation, a wedding or a special event? Buying a home? Changing employment? Buying gifts? All of it can be done online. The same is true when it comes to shopping for loans. Services that allow you to compare loans online have made it easier than ever before for people to compare loan quotes and find the loan that is right for them.
One of the benefits available through loan comparison services is the ease of applying for a loan. In the past, people had to approach multiple lenders individually and ask for quotes. This involved producing and duplicating the same information over and over for each lender.
Loan comparison websites have made it possible to receive multiple offers by filling out one simple application. While there will be additional paperwork after you decide which loan to pursue, you can compare multiple offers without having to contact several lenders.
As you can imagine, filling out one application will save you a lot of time. Taking advantage of loan comparison services also allows you to compare more loan quotes than you would have been able to otherwise. Unless you are extremely dedicated, there simply is not enough time to contact numerous lenders during business hours. Applying online allows you to review multiple offers simultaneously any time of the day, any time of the week.
Comparing offers simultaneously also has its advantages. Loan terms and interest rates change daily. This makes it very difficult to compare a quote you received last week or last month with one that you received today. Comparing loans online makes it possible to review multiple quotes in real time before the offers become invalid.
Information equals savings. With multiple loan offers in front of you, you can compare terms and rates until you find the loan that is perfect for you and your individual situation. This can help you save a lot of money. You could save money in interest by securing a lower interest rate or get added protection through a payment protection plan. But you will not know what is possible if you do not compare loan quotes before you secure a loan.
Having all of this information at your fingertips saves you time. Just think of the amount of time that it would take for you to contact multiple loan companies during business hours. When would you do it? Would you have to take a day off or call lenders on your lunch break? An online loan comparison service puts all of the information you need right in front of you when you need it. You can access it whenever you have a free moment to dedicate to shopping for a loan. The bottom line: There is no more convenient way to shop for a loan. If you’re borrowing money without comparing quotes online, you are wasting both time and money.
Payday loan lenders online are not going to interfere with your credit report. No hard inquiries, the loan not reported as debt while it in term, no late payment negatives will be added to your credit history to lower your score. Payday loan lenders offer no credit check loans, as long as you keep making payments on the loan. Once the account has been sold off to collections, your debt will be reported to the credit bureaus. If you want to keep your credit score from being affected by a transaction with a payday loan lender, you can a) not get a loan or b) don’t default on the payoff.
Once your loan has gone to a collection’s agency, you will be dealing with professional collectors rather than professional lenders. They mean business, it is their business, and they will get up all in your business.
There is the Fair Debt Collections Act which regulates collections. By no means may a collector use any threats or harass you during the process. If you feel like your rights have been violated, you will want to contact the Attorney General.
Not all collections agencies have people who make these violations, but since is all they do all day long is collect debt, it sure could seem like they are harassing you. Find out your rights if you have collectors contacting you.
Understand a bit more about debt collectors so you will know how their system works. Learn to deal with the collectors the right way.
*Most often, when a message is left on your phone, it is a made up person. When you call back and ask for that person, you will be told that he/she is out to lunch or out of the office and a real collector will try to help you.
*Asking for a manager will not get you better service. You are better off hanging up and calling back to talk to another collector.
*Calling your work is a great way to get people to pay up fast. They will only stop if you specifically tell them not to call. No one is going to tell you, you just have to know it.
*If you do decide to “settle” your debt, the collector is eager to take your information in a “applications style form.” There is no form, but the collector will seem like they are bored filling out a form, as they take all your information down just in case the settlement falls through.
*They won’t let you know if the debt has passed the state’s statute of limitations. If you make any kind of payment of acknowledge the debt, the clock will start over for them.
*When a collector says they are “getting a manager” often times it is another collector being the “bad cop”.
*Agencies often times by debt for pennies the cost, so if an offer you make is not agreed upon, ask the collector what they may offer as a settlement price.
*A collector has the power to wipe out potentially thousands of dollars of debt with a one-time settlement rate. So be polite if you want to work with them.
*Top collectors often times get big monthly bonuses. The more they collect, the bigger the bonus. It is an incentive to keep after you for a payment.
*Your story is one of many, aka HLS (hard luck story) your account will be HLS noted, but won’t stop the calls or emails.
If you have finally arrived at the decision to buy a home, it is good to act fast. Almost by default, home prices increase with time and the longer you wait, the costlier the property will be. In South African real estate market, getting a home loan is not difficult but you need to be on the lookout to ensure you get the fairest terms possible attached to the loan. Here are some essential tips to keep in mind.
Ensure you know your credit worthiness and try to make it as favorable as you possibly can. The National Credit Act has made it mandatory that credit bureaus should issue consumers with a free copy of their credit report on request each year. As such, it is important to check your credit report before applying for a loan to ascertain that all details are correct. If there is any discrepancy, take measures to inform the credit bureau so that this can be corrected in time.
Many banks use the amount of disposable income you have in determining if you qualify for a certain loan or not. The term ‘disposable income’ here means the amount of money you will have in your wallet after you have disposed off with all your monthly financial obligations. There are some subtle ways to increase your disposable income such as scaling down on your car and paying off some credit card debts.
Rather than hunting for the best home loan deal on your own, take advantage of a mortgage originator. These are professionals with deep understanding of the real estate market and the predilections of various banks and lenders. Their recommendations will therefore not only save you time but money as well.
Another way a mortgage originator can assist you is in getting a preapproval certificate from one or more banks. In effect, this certificate is a validation that the bank or lender has approved the arrangement to finance your purchase at least in principle. However, the terms of the certificate will usually include a clause that financing will be subject to a specific valuation of the property you eventually decide to buy.
Having the relevant facts at your fingertips will prove essential to anyone hunting for a good home financing deal. Today you have the choice of using online based home loan services consultants. They will help you to find a money saving deal in good time.
When you are in debt, the longer you stay in debt, the more your debt increases. It is important to pay off your debts as fast as you can, but with the high interest rates that most credit cards charge, this can be an impossible task. Some months it is all you can do to pay the minimum payment or simply cover the interest payments without making a dent in the principle amount that you owe. Online debt consolidation services can be that answer to your problem.
Debt consolidation services allow you to pay off high interest credit cards.
While consolidation loans don’t erase your debt, they do gather them up into one loan, giving you one payment to make instead of several each month. When you have one loan payment to make each month, it is much easier to budget for that payment and that can mean no more late penalties and fees being added to your debt.
Debt Consolidation services usually lower your interest rates.
Credit card companies charge outrageous interest rates on the purchases you make. By consolidating your balances into one larger loan, you can secure a much lower interest rate so that you can actually pay on the principle of your debt each month. The lower interest rate can literally save you thousands of dollars.
Debt Consolidation services can help you save money on your taxes.
If you take a home refinance loan to consolidate your debts, you may be allowed to deduct the interest on your taxes. That means that you will pay less in taxes than you would if you were still paying all of that interest money to credit card companies. You can take the money you save and use it to pay down your consolidation loan, getting you out of the debt you are in even faster than you planned.