Debt Help Info: 2007

Thursday, April 19, 2007

A Beginners Guide to the Best Online Loans

If you're looking for the best online loans, it doesn't hurt to do a little research so that you'll know exactly what sort of things that online lenders are going to be looking for when you apply for a loan.

It's obvious that the best online loans won't simply fall into your lap; in order to get the best interest rates and most agreeable loan terms, you're going to have to be open to using high-valued collateral and accepting the repayment terms that different lenders have available.

If you take the time to consider your options and choose a lender based upon those considerations, it's entirely possible that you'll end up with one of the best online loans that you can get.

Collateral

Most likely, the best online loans are going to be secured loans… after all, the use of collateral as a guarantee for repayment of the loan allows the lender to offer interest rates and loan terms that they wouldn't be able to offer with an unsecured loan.

Since the lender is using the internet to offer their services online, however, it's unlikely that multiple forms of collateral will be accepted.

For some of the best online loans, the item that they are used to finance can serve as collateral… this is true of online mortgage companies as well as online auto lenders.

Many other online lenders don't offer loans to cover high-value purchases, though; their loans go more toward debt consolidation. For these lenders, high-value home equity is a good choice of collateral since it is more

intangible than physical properties such as automobiles and is easy to analyze and transfer ownership of.

Repayment Options

As with any loan, the best online loans will have to have repayment options available that are acceptable to both the borrower and the lender.

Many online lenders offer direct withdrawals from personal bank accounts, to offer an easy method of payment that doesn't involve writing and mailing cheques.

Other options such as wire transfer and online payment may also be available, in addition to having physical payment addresses for the borrower to make use of.

Paperwork

While the best online loans can be applied for over an internet connection, there is always some amount of paperwork that must be completed.

To make things easier for both the borrower and the lender, the best online loans do as much of the paperwork via computers as possible… it may still be necessary for some forms to be printed out, filled out, and sent in sometimes along with identifying paperwork.

Often this paperwork can be sent in via fax machine, though some online lenders may require that hard copies of the document be mailed in.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About the Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.

Written By: John Mussi

A Beginner's Guide to Low Interest Debt Consolidation Loans

Looking for low interest debt consolidation loans can sometimes seem like looking for gold at the end of the rainbow, but loans with minimal interest can be had even by people with poor credit ratings.

The most important things in trying to find low interest debt consolidation loans are to know how to use your collateral correctly and to know the best places to shop. Don't be in a hurry to find a loan and miss out on a lower interest rate by simply taking the first offer that comes your way… shop around at different banks and lenders until you find the best loan for your money.

First you need to figure out the entire amount of debt that you want to consolidate, and also the lowest amount that you can get by on… while it would be nice to reduce all of your debt to a single monthly payment, you might have to pick and choose if your debt level is too high and your collateral value can't cover it.

Once you've determined about how much you're looking for, then it's time to head out and try to get one of the low interest debt consolidation loans.

Collateral matters

In order to get the best of the low interest debt consolidation loans, you're going to need good collateral. The most common collateral is automobiles and real estate, and with good reason… these types of property almost always have high values and are easily recognizable as sellable property by lenders if things should have to come to that.

Use the collateral object that has the

highest value, and try to borrow less than that amount. The lower the amount you ask for in relation to the value of your collateral, the better chance you have of getting one of the low interest debt consolidation loans that lenders offer.

Finding the right lender

Different lenders can offer different kinds of low interest debt consolidation loans. Your best bet for finding a good rate comes from going to small local banks or finance companies… both of these are more likely to offer low interest debt consolidation loans that some of the larger chains of banks and lenders that get enough business that they don't need to offer you as low of an interest rate.

Try to go during a promotion that the bank or finance company is holding; they tend to offer special rates during promotions that you can take advantage of. If there aren't any promotions to be had, go anyway… even if they can't give you one of their low interest debt consolidation loans, they may be able to direct you to other lenders you should try.

Get quotes from several before deciding on the one for you, and get the best deal that you can.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About the Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.

Written By: John Mussi

100% Home Mortgage Refinance – Choose A Lender Online

100% home mortgage refinance frees up your money for other purchases, like a second home, renovations, or debt consolidation. To get the best deal on your cash out refi, look online for your next lender. By evaluating loan quotes that you can get in minutes, you can save thousands with just a couple hours of research.

Better Mortgage Lenders Online

If you like low rates and fees, then you will find your best lenders online. Technology and competition has pushed down refinancing costs, saving you money.

Online financing companies also give free personalized loan estimates, so you have real numbers to make your refi decision. Requesting quotes is also a good way to “test-run” a company to make sure they deliver on prompt customer service.

Items To Check Before You Sign

Interest rates should be at the top of your list when researching lenders. But also take a look at closing and miscellaneous fees. On average, your refinancing closing costs equal no more than 3% of your principal. But for 100% refinancing, you may have to pay more, especially if you have poor credit. Early payment fees should also be dropped, in case you decide to move or refinance again.

The APR will give you a picture of the total cost

of the loan. There are cases when a higher rate loan might actually save you money though. For example, if you plan to move in a couple of years, you may get a bigger savings by not forking out thousands at closing, even with the higher rate. For these types of situations, you need to use your calculator to determine which is the best option for you.

Commit When You Are Ready

When you have found the right loan package, commit to it as soon as possible to lock in rates. Your application can be completed online in about ten minutes with final paperwork arriving in the mail in a couple of days. Once your contract is complete and received by your lenders, your money can be wired to the appropriate accounts. From start to end it takes about 10 business days.

About the Author:

Visit http://www.abcloanguide.com/refinance.shtml for a list of 100% mortgage refinance lenders online. View our recommended 100% mortgage refinance lenders online.

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16.4% APR $5,000 Auto Loan…HELP!

Are you the victim of a high interest rate auto loan? If so, the following email discussion may help you. Read on:

DEAR LoanResources.Net:

I was very impressed with your article entitled "8 Point Checklist, Evaluating Online Lenders."

I have tried several sources to refinance my auto. I only have 2 more years to pay $245.04 a month. I owe 4,414.00 on the car loan.

This may not seem like a lot of money but I would like a lower interest rate on my car loan which is now $16.4% APR.

I want to still pay it off in 24 months but at a lower rate so that I can use the money saved to help pay off other bills.

In my internet searches, the auto refinance loans required that you borrow more money than I need. I tried to search for unsecured personal loans on your website and they also required that I borrow more money.

I have a very good credit record and I am working to get some of my bills paid off.

Is there anything you can suggest so that I can get a lower rate auto loan for under $5,000? Any assistance will be appreciated.

Thanks. Geraldine W.

***

DEAR Geraldine:

Sorry I have not gotten back to you sooner. I took a couple weeks off to be with family...Thanks for the compliment on the article!

Anyway, I read your email and I do indeed have a suggestion or two that I'm happy to share.

A COUPLE THINGS INITIALLY:

1. First, you’re paying a very high interest rate at 16.4% APR for an auto loan! I'm going to assume that your statement as to your good credit is accurate. If that's true, then you do indeed need to fix this.

2. Since you only need $5000, with the intention of paying it off in 2 years or less, I don't think you should look for a refinance auto loan or a refinance on your home. Indeed, the bank is going to want to loan you much more money, usually at least $25,000. While a refinance or equity loan on your home does offer tax benefits, we’re only talking about interest on $5,000 over the course of 2 years. I have another idea you may not have considered.

HAVE YOU CONSIDERED?

Have you considered just putting the balance of your car loan on a credit card that has a lower interest rate?

1. Credit Cards are, indeed, unsecured lines of credit with financial institutions.

2. They are the perfect financial vehicle for a $5,000 transfer of debt, with added flexibility, and you should be able to find an interest rate between 9 to 11%, and better, on average.

3. IN ADDITION! Once approved, the bank will usually give you blank checks for balance transfers (sometimes they'll just do it for you right over the phone)…,

4. AND GUESS WHAT? The majority of the time, the incentive interest rates on the balance transfers are EXTREMELY low; sometimes zero percent for up to 6 months to a year.

5. IN ADDITION! you can apply for incentive cards that provide rewards for your spending....free airline miles, cash back programs, etc. I use the American Express Blue, and I get cash back of up to 3% on everything I

spend. So, for $5,000, 3% cash back, AMEX™ pays me $150.

How do you like them apples? The bank pays YOU to borrow money.

RECOMMENDED PLAN OF ACTION:

So, Geraldine, here's what I recommend you do:

1. Go back to our website, and explore the credit card offers we’ve recommended. We’ve picked out what we think are the best offers, and there are a LOT of them, so think of it as a much needed shopping trip! Pay particular attention to our links for "incentive cards". We have two pages of them.

2. Apply for whatever card or cards suit your tastes and needs. There are so many great reward cards. Limit yourself to only your imagination.

3. Get approved, receive card, and receive balance transfer checks.

4. Pay off loan to 16.4% bank!

5. Pay off credit card loan (with extremely low rate and incentives), at your leisure!

…And enjoy the fact that you just made an excellent financial move, saved money, made money, and gave yourself the flexibility to manage your debt on your own schedule...

Hope this helps...Let me know how it all works out.

Sincerely, Tom Levine

Webmaster, LoanResources.Net

info@loanresources.net

http://loanresources.net

We’ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

Publisher’s Directions:

This article may be freely distributed so long as the copyright, author’s information, disclaimer, and an active link (where possible) are included. For more information about mortgages, debt consolidation, credit repair, and all other forms of consumer loan, credit, and debt products, please visit our website at http://loanresources.net .

Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loanresources.net, or you can email Tom at info@loanresources.net.

Written By: Tom Levine

15 Simple Debt Elimination Steps You Must Start Today!

What Everybody Needs To Know...Learn The Truth About Debt Elimination!

Debt Elimination tips shows how Millions of Americans are living on the edge of financial disaster surviving only on the hope of next week's paycheck. The average American is dying under a load of debt, with little or nothing building in the bank or in investments.

Here`s how we have been taught to charge, charge, charge and promised Easy monthly payments by advertisers who seduce us into debt. So its no accident that the credit, finance and loan companies end up with most of our money, while we end up with all of the bills.

Debt Elimination Tips, shows how we've been misled!

See for the first time how the entire way our economy works, is designed to make you work yourself to exhaustion--simply to accumulate wealth for the companies you do business with--Not For You.

The most staggering example of this is a home mortgage. Say you bought a home with a 30-year conventional or adjustable rate mortgage, you will pay for that loan about THREE TIMES. Just multiply out your payment times 360 months and you will see that the total is about 3 times the value of the money you borrowed.

Say you buy a $250,000 home, with a $200,000 mortgage; you will end up paying about $600,000 over 30 years. This means that you will pay nearly $400,000 dollars in interest! Just for the privilege of using their $200,000.

That means that two-thirds of that total is interest. Interest is the profit the Mortgage Company makes for lending you the money to buy the house. And they feel that you should pay them back THREE TIMES. That's 200% interest!

Debt elimination tips -- Now let these words soak into your mind and heart: You will have to work...week after week...year after year...to earn FOUR HUNDRED THOUSAND DOLLARS---Just so you can give it to the bank to make them rich!

Debt Elimination Tips, Show's how bad it really is to use credit cards and to make only the minimum payments!

Suppose you bought $2,000 worth of furniture on a typical (19.8% interest with a $40 annual fee) credit card, and you paid only the minimum monthly payments requested by the credit card company (here's why they only ask for a minimum payment), it will take you 31 years and 2 months to pay it off.

Plus--In addition to the original $2,000 cost of the furniture-- you would have paid $8,202 in interest,(if you make the minimum payments) just for the privilege of using their $2,000! That's five times the furniture's value! Long after you had thrown the furniture out, you would be draining your wealth away paying for it.

Banks, finance, creditors and credit card companies have encouraged indebtedness.

According to a study by the United States Department of Health and Human Services, 96% of Americans never achieve financial independence. They end up depending on charity, family, government welfare or they're forced to keep working just to survive!

Debt Elimination Tips, Why turn your hard-earned money over to the credit card companies? When you don't have too. Follow a proven debt elimination plan!

A new survey by the American Bankers Association found that 45% of credit card

holders with incomes between $50,000 and $100,000 never pay off their balances. Many others don't even make the minimum payments and fall behind on the interest. (Palm Beach Post, Oct 7, 1998)

Debt elimination tips shows how the average American will make over $1,000,000 in his or her working lifetime, and will have as much as 67% to 80% of their money Legally Stolen from them in the form of many different types of federal, state, local taxes and interest on borrowed money!

Are you tired of living paycheck-to-paycheck, month-to- month, making minimum payments, with little hope of ever getting ahead?

Debt elimination tips You Can Start Using Today!

1. Begin eliminating all debts.

2. Write down everything you purchase, determining where your money is going is half the battle on your road to becoming debt free and critical to your future financial success. Seeing it in black and white can give you a new perspective.

3. Pay cash whenever possible.

4. Cut up and cancel all your credit cards, Using a debit card instead of a credit card gives you all the convenience of a credit card but withdraws money immediately from your checking account, so you can not dig yourself back into debt.

5. Never fall into the habit of making only minimum payments.

6. Pay the most you can afford.

7. Put money-saving tips into practice, when possible shop at outlet malls, wholesale clubs and take advantage of coupons.

8. Avoid the trap of thinking in monthly payments.

9. Consider the total cost of purchasing goods and services on credit and compare that with cash savings. You'll pay cash every time.

10. Compare the interest charged on your debts with the interest earned on your savings and investments. You'll find it makes more sense to resolve all debts before beginning a savings or investment program.

11. Debt consolidation loans: be very careful your monthly payments will be lower, but you may lose in the long run, because those lower monthly payments will be spread over a longer period of time. If you don't change your spending habits Now, you could easily end up in worst trouble down the road!

12. Bargain for a better deal: Don't be afraid to negotiate with your creditors many will be willing to Freeze your interest on your outstanding balances in return for automatic monthly payments.

13. Avoid the Quick-Fix companies. Many will charge you a lot of money Up Front, but very few will genuinely help you in the long run.

14. Don't promise away your future income by cashing out part of your retirement savings early to pay down your current debt. You will have to pay Current federal and state taxes, Plus an early withdrawal penalty on that money. You are borrowing against your future, just to pay your current debts and to continue Living a lifestyle beyond your means.

15.Avoid filing for bankruptcy.

About The Author

Vincent Dail

Credit Repair Specialist is run by Vincent Dail. They review and then list some of the best credit repair and debt elimination programs available.

credit-repair-specialist.com

10 Tips To Reduce Your Exposure And Prevent Identity Theft

Identity theft is the country's fastest-growing financial crime. The Federal Trade Commission estimates that 27.3 million Americans have been victims of identity theft in the past 5 years, including 9.9 million people last year alone. Some ways to prevent becoming a victim could include avoid using credit cards or debit cards, stop filling out more credit applications, and cancel all of your credit cards. But the fact is that most exposure to identity theft is beyond your control, because there is still enough information about you and your finances floating around out there for identity thieves to put their hands on. Here are some tips to reduce your exposure and prevent identity theft:

1 - Make It As Difficult As Possible For The Thief.

Most Identity thieves aren't dedicated, but opportunistic creatures. If they come across any difficulty in getting your information, they will move on to the next potential victim. Keep your documents under lock and key. Don’t make it easy for a repairman or a guest in your house to walk off with your checkbook or some of your important files. Don’t fool yourself, you don't have to be rich or have a high credit score to have your identity stolen. Some identity thieves say that middle-class folks make the best targets, because they pay less attention to their finances than wealthy individuals.

2- Monitor Your Credit Report Constantly.

The first hint that you might have become a victim is a suspicious entry on your credit report. Experts recommend that you review your credit report twice a year or more.

3 - Buy a Paper Shredder.

Papers and documents that include personal financial information or your social security number must be shredded before is sent to the trash.

4 - Ask About Business Shredding Policies.

When required to give personal financial information, ask if the business has a shredding policy in place. Financial institutions, tax preparers, and companies with medical information should all be able to shred copies of your documents or have you come and pick them up, so you can do it yourself.

5 - Don’t Give Out Your Social Security Number.

Only Employers, IRS, DMV, Social Security Administration and certain Financial Institutions and Insurers that use your SSN to run credit checks to determine your premiums should be allowed to have this nine-digit number. When asked for your SSN as proof that you are who you say you are, give them only the last four

digits.

6 - Protect Your Incoming and Outgoing Mail.

Get a Locking Mailbox. Many identity thieves simply follow the mail man around and grab what they can from unprotected mailboxes. Consider using the nearest post office to send all your mail, rather than leaving it out where anyone can take it. Or sign up for a secure online bill-paying service.

7 - Always Keep an Eye on Your Debit Card.

Just like a credit card, your ATM card can be used without punching in a personal identification number. The banks won’t hold you responsible for fraud using VISA or MasterCard logo cards but a thief can quickly empty your bank account and could be days until the bank can restore the stolen cash. Use a credit card when paying a restaurant bill or anywhere you won’t be able to monitor the actual transaction.

8 - Be Wary of Phone Solicitors and E-mails.

Don’t give out sensitive information by phone or email to requests purporting to be from financial institutions, unless you initiated contact or really thrust the institution. Criminals are using a technique called “phishing,” which uses an email claiming to be from your Bank and that redirects you to a look-alike website where you are asked to input your account numbers. When contacted this way, do not reply to the email and only call the Bank’s 1-800 number from your statement for communication.

9 - Monitor Your Social Security Statements.

Make sure you are being credited for all the taxes you have paid into the system. Missing earnings or earnings that are not yours can be an indication of fraud. Call the SSA at 1-800-772-1213 if there are any discrepancies.

10 - Carry Only the Necessary in Your Wallet.

Do not carry your Social Security Number in your wallet and only a few credit and debit cards should be in it. In case you have your wallet stolen, grab your cell or the nearest phone immediately and call to cancel your most important credit cards such as 1-800-VISA911 and 1-800-MASTERCARD. Also, make a photocopy of all your cards and your driver’s license. This will make it easier to report the thefts and get them replaced.

About The Author

G. L. Bycz is the founder and developer of http://www.consolidate-credit-card.net an online source for free tips and information on credit card debt consolidation, refinancing loans, debt management programs and financial planning.

9 Steps to Get Out of Debt - Part 4

Step 4 - Reducing Your Interest

If you have read the previous articles, so far you have learned
how wide spread of a problem debt is, the true impact it can
have on your life, and how to determine exactly how much debt
you have and how much it will actually cost you. The next step
is to attempt to reduce your interest rate. There are several
ways you can accomplish this.

We'll start by looking at what are typically known as the
highest-interest debt, credit cards. Believe it or not, one of
the easiest ways to do this is to simply call your credit card
issuer and ask them to reduce your rate. This sounds laughable
at first, but quite often it actually works. Credit card issuers
typically charge customers much higher interest rates for the
money they loan than what they pay to borrow it from others.
This leads to huge profit margins, which means they really want
to keep you as a customer, especially if you regularly pay your
bill on time. They know you have plenty of options available,
and are likely to switch to another credit card issuer if you
feel you can get a better deal, so they're happy to make a
slightly smaller profit and keep you as a customer by lowering
your rate.

If that doesn't work, a second option is to find a lower-rate
credit card and roll your balance over to it. You may be tempted
to go with a card that has a 0% introductory rate. This is
probably not your best option though, unless you plan on paying
off the card within six months. What you want to look for is a
card with a low permanent rate. There are several sites
available to where you can compare credit cards from multiple
issuers such as Creditor Web, http://www.creditorweb.com/.

There are also several broader options available for credit
cards and other types of debt. One of which is to look into
refinancing any loans you have. Interest rates go up and down
over time, and it's quite possible the rate you can get now is
lower than what it was at the time you originally financed the
loans. Often there will be a refinancing fee involved, so use
the amortization calculator from the previous article to make
sure the amount you are going to save is greater than the amount
you will have to pay.

You can also get a debt consolidation loan. You need to be
careful when considering this option though, because although
there are several legitimate companies offering debt
consolidation

loans, there are also several companies trying to
make a quick buck at the expense of others. I highly recommend
checking out any company you consider getting a loan through
with the Better Business Bureau, especially if it's not a
reputable bank you are familiar with. In addition, once again
use the amortization calculator to make sure you are actually
saving money with the loan. Just because your monthly payments
are lower doesn't mean you're saving money. $300 per month for
10 years is going to cost you more than $500 a month for 5 years.

The last option I want to suggest is for those of you who own a
home. There are actually two options here, you can take out a
second mortgage, or refinance your home for its current value
and some additional funds, to pay off other debt. As with the
one before, this can be both good and bad. It can be good
because these loans typically offer the lowest interest rate
because they are relatively safe loans for banks. That is also
the same reason they are bad; if you do not pay them off, the
bank can repossess your house. The other built-in benefit is by
refinancing, you can often get a lower interest rate on your
house, which can save you a bundle. As with the previous option,
there's often a refinancing fee, so use the amortization
calculator,
http://www.destroydebt.com/calculators/AmortizationCalculatorJs.a
spx to make sure you are saving money by doing this.

With all of these methods let me stress that you should be very
careful not to fall into the same trap many others have. Too
often families will take out a second mortgage or debt
consolidation loan to pay off their credit cards, but instead of
using this is a means to reduce their debt, they charge up all
the credit cards again and end up in a worse situation than they
were before. Don't let this happen to you. Once you have
refinanced to eliminate any credit card debt, close those
accounts. Just keep one open for emergency use only until you
get to a later step in this guide where you can destroy that
one, as well.

About the author:

This article has been provided courtesy of href="http://www.destroydebt.com">Destroy Debt. Destroy Debt
offers great debt
relief articles for reprint, and tools and advice that
provide the debt help
you need.

8 Ways To Consolidate Debt

Next to winning the lottery, a debt consolidation loan is a debtor’s dream. With one monthly payment and a fixed monthly payment schedule, you can actually see an end to those monthly payments.

In reality, consolidating bills isn’t always easy. If you have a lot of debt, it can be hard to find a consolidation loan at a lower interest rate. And if you’re not careful, you can end up deeper in debt than when you started.

Your goal in consolidating your debt should be to lower your overall costs. To accomplish this there are two things to keep in mind:

1. Get the lowest interest rate possible

2. Have a plan to pay off your debts in 3 – 5 years.

Here are some of the best ways to consolidate:

Using Credit Cards

The good news about this method is that with a good credit rating, you may get a much lower rate than other forms of consolidation loans. And since credit card issuers don’t require collateral, you aren’t “risking the farm.”

Call your current issuer to ask what interest rates they will offer you if you transfer balances from other cards over to theirs. Go for a fixed rate if you can get it, and ask them to waive any transfer fees. If you can’t negotiate a low rate with your current issuer, try shopping for a new card at a site such as CardRatings.com. But be careful! Too many applications for credit in a short period of time can hurt your credit rating.

Once you do consolidate this way, be sure to set up an optimal payment plan so you can be debt-free in 3 – 5 years.

Home Equity Loans

With a home equity loan, you borrow against the value of you home, minus any other mortgages.

The two major kinds are:

•A Home Equity Loan – a fixed amount of money for a fixed period of time (sometimes at a fixed rate)

•A “Home Equity Line of Credit” where you borrow up to a pre-approved credit limit (interest rates usually variable) and can borrow again if you still have money available.

These loans can offer attractive rates, low payments, and the interest is usually tax-deductible if you itemize. Many issuers offer no or low closing costs for these loans. Interest rates are often variable, however, and there’s always the risk that you can lose your home if you can’t pay.

Cash Out Refinance

Refinancing your home and taking out money to pay off bills (called “cash-out refinance”) is yet another way to tap the equity in your home. If you can refinance at a substantially lower interest rate, you’ll eliminate the high interest costs of the debts you pay off, and you could even come out with a lower payment than you have right now since rates are so low.

One option to consider: an interest-only loan. By lowering your monthly payment, you can free up money to use toward paying down other high-rate debt or building a retirement fund.

Make sure you understand the total cost of refinancing. Take any money you’ve freed up by paying off other bills and use that to create an emergency savings fund.

Traditional Debt Consolidation Loans

A debt consolidation loan is an unsecured personal loan, and the only collateral you are offering for the lender’s security is you. Because lenders consider them risky loans, they’re usually more expensive and not always easy to get if you have a lot of debt.

If the interest rate is too high to make it worth it and the repayment term is ten or fifteen years, you should probably consider another method of consolidation. However, if the term and interest rate are right, this can be a great way to actually save money in the end. (Check Bankrate.com for current averages). Remember, to calculate

the total cost of the loan from start to pay-off.

Credit Counseling

Credit counseling agencies may help you get out of debt, though they don’t actually consolidate your debt. Instead, payment plans (usually with lower interest and fees) will be worked out for all of your eligible debts. You’ll make one monthly payment to the counseling agency, which will pay all your creditors.

Participating in a credit counseling program generally won’t hurt your credit rating, and if you stick to the plan you can be out of debt in three to six years. But be careful which agency you work with. If the counseling agency pays your bills late, you’ll pay the price since you’re still responsible to the lender. It happens.

Debt Settlement

Debt settlement is another option that’s become increasingly popular with consumers who have a lot of debt and can’t, or won’t, file bankruptcy. You stop paying your bills and instead make a regular monthly payment to the settlement company. Your creditors contact them, and not you, about your overdue bills. As your accounts fall further behind, the negotiation company will settle your balances – usually for 50% of the balance or less (including fees) depending on the debt. Most people can be out of debt in less than two years or less using these programs.

It’s not perfect. Your credit rating will be hurt in the short run and you must be certain you’re dealing with a reputable company or the money you pay each month could disappear. Still, for consumers who can’t shoulder the burden of debt they have now, it can be a very good option.

Retirement Loans

If you have a 401(k), 403(b) plan or certain types of pension plans, you can borrow against your nest egg. (You can’t borrow against your IRA.) It’s easy, with no income qualifications or credit check.

The key here is to borrow against your retirement account, rather than withdraw from it early so that you don’t end up paying taxes and a 10% penalty. Also, if you leave or lose your job, you may have to pay your loan back immediately or pay taxes and penalties for an early withdrawal.

These loans typically offer low interest rates, and interest is paid to you, since you are the lender. While tapping your nest egg like this can short-change your retirement, so can costly debt payments.

If you are in your 20’s and 30’s, you obviously have more time to rebuild a retirement nest egg, but even if you’re in your 40’s or 50’s, you will want to weigh the cost of paying the high interest of the debts over time, versus borrowing from your retirement account. The return you get from paying off high-rate debts is guaranteed – while the stock market isn’t.

Rapid Repayment

There is a mathematically optimal way to pay your debts. Choose a fixed level monthly payment, and commit to it each month. Pay as much as you can on the highest rate debt first, while payment the minimums on the rest.

I almost always suggest consumers with debt start by creating one of these plans. Many people who do so find they don’t even need to consolidate to get out of debt in the next few years. They just need a plan and they can do it on their own.

About the Author: Talbert Williams offers debt consolidation referrals and advice. For more information, articles, news, tools and valuable resources on debt solutions, visit this site: http://www.1debtfreedom.com

Source: www.isnare.com

Written By: Talbert Williams

8 Simple Steps To Becoming Debt Free

When you leave school, you can start building a credit record for yourself. The only way to do this is to go into Debt. You think you can handle it: paying off your credit cards every month, staying up to date with all your other monthly payments. You're earning an income, living the high life and you can handle anything that life throws at you.

Then Disaster Strikes - the car breaks down or someone in the family gets ill, and you rapidly realize that you're getting over your head. When the curve balls come your way, getting into debt can sometimes be the only way to cope.

All to soon, the Money coming in just doesn't cover your monthly expenses; you find yourself going deeper and deeper into debt just to make ends meet. And everybody who was so nice about giving you the credit in the first place, suddenly turns nasty and starts making demands.

Nobody likes to find themselves in this situation, yet it happens more often than you realize. It not only affects you emotionaly; it has an impact on everybody around you as well. Nobody like owing money and nobody likes losing sleep over Debt. But what can you do to get out of the downward spiral - so often a feeling of total despair hits you.

Eight Simple Step to get out of Debt.

Well here are 8 steps to actively follow to get the ball rolling and help get you out of debt quicker than you think.

Step 1: The first thing you have to do is to admit to yourself that there is a problem. It's amazing how many people would rather ignore it, and just hope that it goes away. So, admit it, just say: "I'm in big trouble". This step actually forces you to start looking at your problems.

Step 2: Stop making Debt! Right Now.

Step 3: Create yourself a Budget for every month and determine what you're spending where. Look at your income and your expenses and determine how much you can spend on debt repayments.

Step 4: Now comes the hard part. Make a list of all your short-term debts and the full amount that is outstanding on each and every one of them. These include your credit-cards, clothing accounts and even the monthle contract with the video store. Anything that you have to make a monthly payment on where you've received credit. Don't worry about your big debts like your Mortgage and Car Payments. We'll get to those later.

Step 5: Input all of these debts into a spreadsheet and add them up. You'll find this a big eye opener. Now, you have the real picture of what you truly owe. Only now will you be able to actively start attacking your debts. Sort your debts from the smallest debt to the biggest debt. The key is to start with paying the smallest debt off first and then the next in line and so on.

Step 6: Now you need to

determine how much extra you can pay every month over and above what you are already paying in monthly repayments. Look at your Budget that you created in Step 3 and see if you have a bit of extra money available from you monthy income after all your expenses have been deducted. If you do - great. If not, see where you can make cuts, such as luxury items on your grocery bill. We're not looking for a big amount, just that little extra.

Step 7: Start paying the extra money you created in Step 6 towards your smallest debt (in addition to the normal monthly repayment) and continue doing this every month until it's paid off. Once that smallest debt is paid off, you'll have some extra money available. Don't spend it! Use he money freed up to pay off the next debt in your list of debts (once again, in addition to the normal monthly fees) until this one is also paid off. What you have here is the snowball effect : Every time you pay a debt off, you'll have bigger and bigger chunks of money available to pay the next one off quickly

Step 8: You've paid off all your small debts and should have quite a pile of extra cash available every month. I know it's tempting to spend it, but the best place for that money to go is into your Mortgage - So invest your money into your own property. Why? Your mortgage is probably the biggest long term debt you will ever sign up for. For every bit of extra cash you pay into your bond in addition to your monthly payment, is offset against the capital amount of the loan. The less capital outstanding on your bond, the lower the monthly interest you have to pay over. And the added benefit is that you'll pay the mortgage loan of faster. It can make upto 3 or 5 years difference. I'm not saying use all of it, but a big chunk of that money needs to go there.

These eight steps will help you get out of debt pretty quickly - It's NOT easy, and requires you to become disciplined with your money. You can get out of the situation, but the only person who can help you out of the hole is You.

Take control. Follow these 8 simple steps. You will be on your way to become debt free in no time at all.

About the Author:

f you have serious problems getting out of debt, consider Debt Consolidation which can give you some breathing space to help you get out of debtGerard Korsten runs the website http://www.debtconsolidationweb.info/ to help people get out of the great silent killer - Debt. For more information, p

Source: www.isnare.com

Written By: Gerard Korsten

8 Point Checklist, Evaluating Online Vendors

Here are 8 things to consider, when evaluating lenders online:

Website Design
Privacy Policy
About Us
Popularity
Reputation
Short Form
Points, Fees, Terms and Rates
Communication

1. Website Design:

The webpage is, in fact, the storefront of the internet. In the real world, your first impressions make all the difference. Well, it’s no different on the internet.

Does the site seem forth-right? Can you glean valuable information immediately, or does it appear that you are being pushed to click here, click there?
Does the page load fast, indicative of a reliable server, or does it seem to take forever for everything to be displayed (or worse, are you receiving various error messages).
Are there a ridiculous amount of pop-ups, pop-unders, and other in-your-face ad campaigns, or, does the lender simply put it all out there for you to decide?

Examine the website design, and trust your first impressions.

2. Privacy Policy:

You will likely be sharing some personal information, in exchange for loan offers. You shouldn’t be so concerned about this that it limits your ability to reach out to possible lenders. However, use your common sense.

Does the website post its privacy policy? If so, take a quick peak at it.
Does it seem to make sense, and is it reasonable?

Virtually all trustworthy online businesses now have posted privacy policies to both assure you of their intent, and to comply with current laws and regulations.

3. About Us:

Does the lender post an “about us” page?

If not, this could be a red flag. In other words, the lender should take pride in its history, its vision, and its mission statement. An “about us” page is an opportunity for your lender to tell you a little bit about themselves. If you don’t see it, then what are they hiding?
On the other hand, if you do see an “about us” page, go check it out. How long have they been in business? Where are they located? Do they post a phone number, and do they provide contact information? What are their policies and philosophies?

Reading the “about us” page can tell you tremendous information about the lender.

4. Popularity:

Take your lender’s website address, and plug it into Alexa.Com. Alexa is a tool, created by the folks at Amazon, to evaluate traffic on the internet, and to provide a venue for visitors to post critiques of websites.

Popularity is gauged by the Alexa rating, and the lower the number, the higher the rating. For example, our site, http://loanresources.net , as of today’s date, has a 3 month average Alexa Rating of 86,517. This means that we are one of the top 100,000 websites in terms of traffic (and popularity). If we get down to let’s say 50,000, then our traffic and popularity has increased.
You can use this tool to evaluate the traffic of your prospective lenders.
Our advice is this: Don’t be blinded by popularity alone. There are plenty of competitive lenders and mortgage brokers out there with the highest integrity, which may not, necessarily, have a favorable Alexa rating. It doesn’t mean that they shouldn’t be considered. It is simply a measurement of traffic, and that’s it. Don’t miss out on what they have to offer.

Just use popularity as one of the many tools at your disposal, when evaluating online lenders.

5. Reputation:

There are a number of ways to evaluate a lender’s reputation. Talking to friends, family, and associates, of course, is one way. Another method is to see whether or not the prospective lender is a member of the Better Business Bureau (BBB at BBB.Com), and if there are any complaints on record filed against them.

The BBB produces what’s called a “Reliability Report”, and this report will provide you with corporate information (such as name, address, phone number), BBB membership information, whether or not the lender is a participant of the “BBB Online” program, along with a complaint history, and each complaints final resolution.
The report also states the overall rating that they give the lender. Remember we discussed earlier, that popularity is not everything? Here’s a prime example. You’d be surprised how many “popular” lenders, may in fact carry a rather lengthy BBB Reliability report filled with a variety of complaints.
Again, just use your good,

common sense, and consider reputation alongside all other factors.

Also, if you see something on the reliability report that may be concerning you, talk to your prospective lender, and see if they can give you a reasonable explanation for what happened.

6. Short-Form:

Complete an online “short form” application, and within minutes, several competitive loan offers could be making their way to you.

Consider the short form application, when evaluating the lender. Is it short indeed, or are they asking you for way too much information?
Be expected to share some basic information about yourself, such as name, phone number, salary information, etc., but never disclose what you feel is too personal or compromising, such as a social security number, credit card numbers, etc.
Does the short-form make sense, is it well organized, and is it simple for you to follow and understand? This is important, because if the form is easy to complete, the lender may be saying that their whole loan process is simple and easy. On the other hand, if the form is arduous and complex, what does that tell you?

So, evaluate your comfort level with the context of each lender’s short form application online.

7. Points, Fees, Terms, and Rates:

After you complete the online short-form, prospective loan offers will almost instantly be making their way to you.

These preliminary loan offers will present you with important information about the points, fees, terms, and rates being offered.
This, of course, is the nuts and bolts of what you are evaluating…This is the dollars and cents of your preliminary loan offers.
Obtain several offers, and compare them to each other.
Who offers the best savings? Who seems too low to believe? Who is way too high to consider?
Check the current rates and see how these offers compare. We’ve got a RateWatch set up at our website, or, you can find other resources from any search engine.

8. Communication:

After you’ve obtained several loan offers, it will be time to talk to your prospective lenders over the phone.

Do not fear this process. Remember, you are the buyer of this product, and you are in the driver’s seat. Think of it as an interview, and you are in charge. Ask some good questions, and see if you are comfortable with the relationship forming.
How does the lender strike you over the phone? Is it someone that you feel you could do business with, or, does the conversation seem forced and uncomfortable?
Use the phone call to evaluate the relationship, and to obtain useful information.
Do not make an immediate decision. Talk to 3 or 4 lenders, and then take a pause, and evaluate what you’ve learned.

Use your instincts to gauge who you worked well with, and who might present challenges down the road.

Publisher’s Directions:

Written By: Tom Levine

8 Danger Signals To Foretell You Are On The Debt Road

Debt consolidation is a major concern throughout the world. There are many things that one needs to watch for to avoid this malady and this stands true for all types of people. The article will try to highlight a few danger signals which can foretell that you are on the debt road – so you can recognize them and straighten things out.

Danger signal 1

Your credit card expenses increase while your income is the same or decreasing. When this happens stop using your cards and manage on whatever cash you have available. Stop when the cash is finished unless there is a great emergency – do not take out the cards. Diminishing income will suffer greatly if the bills of the credit card are added to it; get away from card shopping till your income stabilizes.

Danger signal 2

You are unable to pay more than your minimum balance on the card debts; this is when it should be obvious that cash problem has started; this is the time when you should leave the credit cards and try to pay off all your outstanding by wise financial management.

Danger signal 3

You find yourself borrowing on one card to pay on another. This is the message that you are entering unmanageable debt – so take charge and control all unnecessary expenses right away. Try to pay off the debt of one card and use only one card – that also only in acute emergency.

Danger signal 4

You observe that you have more than 5-6 credit cards. Ideally, you should not have or use more than two credit cards. There are many who advocate the use of only one card while – if you have more – you can keep the rest

locked for any emergency. When you have too many operational cards, you can very easily over spend and find yourself in a financial mess.

Danger signal 5

You are finding that you are using your credit more and more for emergency payments – and the emergency payments include grocery bills. The moment you include in the emergency payment list ordinary purchases, you should understand that something is seriously.

Danger signal 6

Your credit card payments keep you working overtime – if you observe that you do not have sufficient funds to cover your credit card payments – that means you are extending your income to your credit card limits – this is a definitely a danger signal.

Danger signal 7

You are at limit of all your credit cards. When you find yourself to have topped the limits of your credit cards –this obviously shows you that your income is not sufficient to take care of your expenses – and or you are spending too much.

Danger signal 8

You are gambling and paying the debts with the credit cards. Never ever pay your gambling debts with the credit cards because this will really create an egg-and-chicken vicious circle from where you will never get out.

About the Author:

Visit Credit Car Debt Consolidation to read more informative and instructive articles about debt consolidation solutions, mortgages and loans.

Source: www.isnare.com

Written By: Sebastian Schneider

7 Ways To Protect And Improve Your Credit Rating

Your credit score accounts for the amount of interest you have
to pay for a loan or a credit card. Increasing your score in
just a few points will make a big difference in the interest
rate you will pay for a purchase. If your credit score is high
enough, you'll have no problem qualifying for a lender's best
rates and terms on auto financing, home loans and small business
loans. The following are a few tips about how you can protect
and improve your credit rating.

1 - Order Your Credit Report. Your credit score is based on your
credit report, so you should begin by ordering your reports and
reviewing each one for accuracy. You can get your reports from a
service such as MyFico.com, or order from Equifax, Experian and
Trans Union separately online or by phone.

2 - Check Your Credit Report Information for Inaccuracies. Check
the identifying information for name, social security number,
birth date and incorrect address. Make certain that old
negatives and paid-off debts are deleted. Check for accounts and
delinquencies that are not yours, late payments, charge offs,
lawsuits, judgments or paid tax liens older than seven years
old. Also, paid liens or judgments that are listed as unpaid,
duplicate collections, bankruptcies that are older than ten
years and any negative information that is not yours.

3 - Always Pay Your Bills on Time. Payment history makes up more
than a third of the typical credit score. If you paid bills late
in the past, you can improve your credit score by starting to
pay your bills on time. Lenders are looking for any sign that
you might default, and a late payment is a good indicator that
you are in financial difficulty.

4 - Keep Credit Cards Balances Low. Carrying smaller balances is
the best way to increase your credit score. The score measures
how

much of your limit you use on each credit card or other line
of credit, and how much of your combined credit limits you are
using on all your cards. Within 60 days, paying down credit card
balances can increase your credit score by as much as 20 points.

5 - Try Not to Open In-Store Credit Cards. Although your first
credit accounts can serve to build and improve your credit
history, there comes a point when each subsequent credit
application can reduce your score. New credit cards reduce the
age of your credit history, and a department store credit card
isn't good evidence of credit worthiness. Every time you apply
for a retailer's credit card your credit store gets dinged.

6 - Be Conservative When Applying For Credit. Having at least
one credit card that's more than 2 years old can help your score
by 15 percent. Make sure that your credit report is checked only
when necessary. Or, if you are shopping for a home, try to apply
for loans within a two-week period. By keeping the loan process
within a two-week period, all of the credit report lookups are
seen as one single request.

7 - Don't Close Credit Cards or Other Revolving Accounts.
Shutting down unused accounts that have outstanding balances
without paying off the debt changes your "utilization ratio,"
which is the amount of your total debt divided by your total
available credit. It will reduce the gap between the credit you
are using and the total credit available to you, and that can
hurt your credit score.

About the author:

G. L. Bycz is the founder and developer of
http://www.consolidate-credit-card.net an online source for free
tips and information on credit card debt consolidation,
refinancing loans, debt management programs and financial
planning.

7 Tips To Help Reduce Your Debt

As debt continues to increase in many households across America,
more families each year are finding themselves looking for ways
to reduce their overall household debt. For some, this may be
easier said than done. Debt reduction requires a lot of hard
work and dedication. Especially when you are used to spending
money left and right.

Those that are serious and committed to reducing their debt will
eventually reap the rewards of being debt free. Reading my
simple seven tips will give you many ideas, about how you can
reduce your debt.

Cut back When you start to cut back on spending, you will find
corners that you can cut through out the month, to help you pay
off your debts. Simple things such as, being aware of all of the
electricity you use, and turning off lights that are not needed
as you leave a room, will help reduce your light bill,
therefore, you save a little more money to reduce your debt
with. Once you become aware of your spending habits, and start
cutting back, you will start to notice more ways to cut back
each month.

Budget Budget your income. List all of your monthly bills and
their due dates. Apply them to your budget, as well as other
household needs, for example, groceries, gas etc. Allow yourself
only so much money per month to spend on extras. Sticking to
your budget will show self control, and determination for
reducing your debt.

Limit the use of your Credit cards If you can not pay cash for
it, then do not buy it. If you have to charge something, make
sure that you can pay the balance in full when your next credit
card bill comes in. Never charge on your credit card to only pay
the minimum monthly amount. You will never get that maxed out
credit card paid off that way. The importance of paying

your
credit card balance in full, can not be stressed enough.

Get rid of your credit cards If you are determined to reduce
your debt, cutting up your credit cards will help. If you do not
have them, you can not use them. If this is too big of a step
for you, at least get rid of the unnecessary ones. Keeping only
one or two, low interest rate cards for emergencies only, is a
good idea. Remember if you can not pay cash for something, then
you probably do not need it.

Pay off your debts If you have already acquired some debt you
need to pay off, now is the time to get started. Decide which
debt is your smallest and start with that one. Pay on it as your
budget will allow. Once you have gotten your smallest debt paid
off, you will have a feeling of satisfaction and know that you
can pay off your debts. Then move to the next smallest debt,
when you are paying them off one by one, it is easier to do,
with out feeling over whelmed. Before you know it, all of your
debts will be paid and you will feel great about knowing you
paid them off.

Debt consolidation Debt consolidation is another option to look
at for reducing your debt. Debt consolidation companies, will
call your creditors for you, and make payment arrangements for
your debts. Many companies will get you one low monthly payment
to pay each month, until all of your debt is paid off.

Financial counseling Make an appointment with a financial
counselor to help you reduce your debt. Some people find, having
someone else point out the errors in their spending habits to
help tremendously. Financial counselors can also show you how to
better manage your money, and stick to a budget.

About the author:

Free debt reduction
tips

7 Tips for Generating Online Leads Part 2

4. Keep It Need-to-Know

When it comes to forms, ask for as little information as
possible. You probably want to request customer information that
includes everything from name to shoe size. You can certainly
ask for it. But the more information you ask for, the less
likely folks are to fork it over. Conversion rates are generally
proportional to the amount of information requested. This holds
especially true for lead-generating conversions.

Lead generation is a value exchange. Your visitors expect to get
something of value from you in exchange for their information.
What they have to provide should not be one iota more than they
perceive necessary! If you want more information, provide more
value in proportion to the request. You want my shoe size for
your newsletter? Offer me a free pair of socks after I've
received the newsletter.

5. Help Them See It

No two ways about it, if visitors can't quickly make visual
heads or tails of your content, they won't stick around and you
won't generate a lead. Layout matters. Evaluate your copy for
scannability and skimmability. Use eye-tracking principles so
visitors can find what they expect to find where they expect to
find it.

6. Qualify Better

It is your job to help your visitors qualify their needs as soon
as they land on your site. When you provide a means for them to
find what they want and get to it quickly, you build rapport and
help your visitors feel understood. It's a process that begins
on the

home page (or a well-designed landing page).

But not all visitors know exactly what they want. Some may not
be in a buying mood. That doesn't mean they won't buy. An
exceptional qualification scheme is critical to getting a
customer. It's just as critical to generating a lead. Let
visitors know briefly who you are, what you do, and what you
offer. You're more likely to persuade them to become a lead.

7. Test, Measure, and Optimize

Improving lead generation means evaluating what you've done so
you can figure out how to do it better. Web analytics to
consider include:

Responses: How many folks downloaded your white paper,
subscribed to your newsletter, or opted in to your e-mail list?
Time spent on site: How long do visitors stick around?

Reject rates, especially on contact pages: Where do folks bail
out of your site? Are you losing visitors just when you think
you have them?

Leads-to-close ratio: Is there a connection between perception
and satisfaction?

Try incorporating one or two of these suggestions and see what
happens. Better still, make all these the centerpiece of your
site's conversion philosophy, and watch those leads roll in!

About the author:

Talbert Williams offers debt consolidation, debt reduction,
credit card debt referrals and advice. For more information,
articles, news, tools and valuable resources on debt solutions,
visit this site: http://www.1debtfreedom.com

7 Tips for Generating Online Leads Part 1

Generating a lead may be the sole purpose of your site or a
small piece of your marketing mix. Either way, it is always
about answering a prospect's unspoken questions and
communicating the value of doing business with you.

Folks do their research online precisely so they don't have to
interact with someone - think of your visitors as the most
introverted people you ever knew. They come to you with
curiosity, expecting you to understand what they need and to
lead them along a comfortable path of enlightenment and delight.
Every click represents an unspoken question they hope you will
answer.

Can the design, architecture and content of your Web site
convince visitors you're valuable to them, so they give
something of value to you in return by becoming leads? Here are
seven suggestions to get you started.

The Persuasive Process

It doesn't matter whether your business is B2B or B2C, whether
your sales process is simple or complex - these may influence
the details of your tactics, but they won't change the fact that
every ebusiness is about persuasion. Framing a persuasive
process always begins with answering the same basic questions:

Who do you need to persuade?

What are you persuading them to do?

When the goal is generating leads, you usually want to persuade
your visitors to fill in a contact form, download a white paper
or demo, register, opt in to a newsletter or e-mail list, or
forward your content to a friend.

Once you have created the personas, constructions that represent
your "who"s, and identified the action you want them to take,
you then turn to designing an online experience that
incorporates your answer to the third basic question: How can
you most effectively persuade them?

1. The Message Must be Relevant

Identify what really matters to your visitors. What

motivates
them to seek you out? What problems do you solve for them? What
friction points do you reduce for them? Identify the benefits
and value your products or services confer. Find your visitors'
buttons, then push them by serving up a nice, juicy, relevant
message.

2. No Jargon

Unless you're marketing to a select audience that absolutely
requires you to communicate credibility via insiderspeak
(jargon), stay away from the stuff. Jargon convinces folks you
aren't really interested in talking to them, so they're far less
likely to pay attention. If you must include specific
terminology, give it a low profile. Those wanting to know if you
can really talk the talk will look to find it (and yes, you
should have a place for this on your site).

If you're not sure how folks talk or think about your products
or services, conduct online consumer research and speak with the
people who interact directly with your customers. Using your
customers' language on your Web site not only helps them feel as
though you are speaking to them, it also boosts your chances
with the search engines.

3. Don't "We" All Over Yourself

The first rule of online success is it's never about you.
Brilliant as you and your business may be, focus on visitors.
Let them know you understand their needs and what matters to
them. Put them center stage. Want a thumbnail view of how
customer-focused the language on your site is? Try the Customer
Focus Calculator on our Web site. It identifies how often your
copy brags about things like, "We are the best, we are the
original."

About the author:

Talbert Williams offers debt consolidation, debt reduction,
credit card debt referrals and advice. For more information,
articles, news, tools and valuable resources on debt solutions,
visit this site: http://www.1debtfreedom.com

6-Effective Ways to Shop For a Personal Loan

Shopping for a loan is very similar to finding a new home to buy. Since they both are important financial decisions, it requires more than looking for the best rate or the easiest personal loan to qualify. Before you opt to take out a personal loan there are a few consumer smart – personal loan strategies may consider adopting. Use the following strategies to fine tune your personal loan decision.

1. Know Your Credit Rating

Credit ratings qualify loan approval. Understanding how your credit rating will help a person qualifies for, Depending on a credit score, there are specific personal loans that are applicable to your situation. For instance, certain lenders specialize in extending sub-prime financing. (Sub-prime loans carry a higher interest rate).

2. Organize Financial Documents

For the loan shopper in need of a personal loan or debt consolidation loan, certain personal financial documents may be needed for approval. Generally, lending institutions request the following records:

W-2 statements from the past two years
Federal tax returns from the previous two years,
Investment and mutual fund documents
Current and recent paycheck stubs, d
Records that demonstrate other financial sources (2nd job, commissions, interest dividend income, bonuses)
Child support or alimony documentation
Home and vehicle titles
Any other assets

3. Know Your Assets

Before you begin shopping for a loan, understanding where you stand is the first step to take. The first question of consideration involves, how much loan you can afford. Add up your collateral. For example, if you have a home, car, and insured jewelry, these items are assesses to approve or calculate a loan.

Determine how much you need to borrow
Review the current interest rates you are paying.
Analyze how much loan payment you can afford.
Remember to budget your consolidation loan with a breathing space or leeway. It will prevent you from falling prey to over-extending personal finances – again.

Another important step to include in your debt calculation is to tally all current bill obligations: housing costs, credit card debt, child support, car notes, alimony or student loans. Lenders believe that 36 percent of a person’s debt should account for 36 percent of a borrower’s pre-tax income.

4. Research Different Personal Loan Products

Since personal loans come in a variety of flavors, researching different products can help you find a loan customized to your specific financial situation. To gain a better understanding of diverging lending product terms vary, review glossaries and frequently asked questions (FAQs).

Various Classifications of Personal Loans

Debt

consolidation loans allow the borrower to refinance or reorganize debt.
Mortgage – a loan to purchase property
Mortgage refinancing – a loan where the homeowner borrows money against the equity of their property to pay off bills, apply for a lower interest mortgage (Mortgage refis- are tax deductible).
Equity loans – are lines of credit that can be taken out on a home with out affecting the state of the mortgage. (Depending on the terms of the financial institution, equity loans- are usually tax deductible).
Personal loans – are all options you have to borrow money, and make one monthly payment until you are out of debt.
Secured personal loans – are ideal for the consumer with collateral (in example: home, real estate property and certain specialty recreational vehicles can be used as collateral).
Unsecured Consolidation Loans – are a personal financial solution for the consumer who does not have assets or own real property.

Advantages Versus the Drawbacks of Secured and Unsecured Personal Loans

Secured personal loans

Advantage:

Lower interest rate on the loan
Ease in borrowing money
Smaller Monthly Payments

Drawback:

Longer repayment terms
Risk factor involved in losing property

Unsecured personal loans

Advantage:

No risk in losing assets
Condensed payment terms

Drawback:

Higher monthly payments
Heftier interest rates

5. Search For a Personal Loan

Selecting the perfect lender requires shopping around with various lenders. Obtaining quotes of lending products available for your financial leads will enable you to make the best personal loan decision. Remember to pose questions regarding the penalties, surcharges and costs for getting the loan approval.

6. Choose a Lender

The final step to obtaining debt relief starts with the selection of a respected lender. Although the choice may be a bit challenging, consider the terms and risk factors involved with each personal loan opportunity. Remember, just because a personal loan comes with an ultra low interest loan – doesn’t mean that it’s the best loan.

The four Steps for debt consolidation loans Includes the following:

Applying for the loan
Loan approval
Modify your budget as debts are paid-off
Avoid accruing more debt during the consolidation loan process

About The Author

Holly Bentz is a finance writer and a contributor to About Personal Loans.

About-Personal-Loans.com

5 tips about Debt consolidation

Debt consolidation is a way to financial freedom, having a
positive impact on the credit rating. Credit rating, quality of
living, and the impact on the family, are affected when
creditors harass for payment and the payment made causes the
balance to rise instead of decrease. Due to continued interest
and fees, these issues escalate as the monthly payments get
further behind. This is where debt consolidation intervenes,
offering competent solutions to financial problems.

Debt consolidation is basically a service or a program that is
available to the consumer who finds himself at the end of the
rope, especially when debt exceeds income.

Debt consolidation acts as a means to resolving debt issues and
to reducing this burden. There are various debt-consolidation
firms that channel their activity towards helping their clients
to find answers to their debt dilemmas. Every client's situation
is different, so these professionals are trained to come up with
an individual program by counseling with the consumer and
mapping out a plan to stop the harassment, reduce interest or
eliminate it altogether by working as a mediator between the
creditor and the consumer.

Debt consolidation is the best way to find a solution that

makes
sense. Debt consolidation will take multiple payments and
decrease the amount into one monthly payment. An answer to
financial related problems can be rolling unsecured debt into a
second mortgage or contacting a credit counseling center or a
debt consolidation firm and find out the process of debt
consolidation. The answers are promising and will lead to
financial freedom from debt and a better credit rating.

Debt consolidation is an appropriate way of stopping late fees
and watching balances go down, as the credit score rises.

Some of the reasons for debt are living above one's means by
spending more than earned or perhaps some unforeseen events that
occurred and created problems by draining available resources.
Therefore, debt consolidation is nothing but an answer to
changing the spending pattern thus attacking the problem with
solutions that make sense and bring relief from the stress
caused by the burden of debt.

5 Things You Can Do To Get Out Of Debt Legally

Most people tend to ignore their financial situation until it becomes a huge problem. Realizing that they are in trouble, most often they turn to others for a solution to their situation.

More often than not, they look for help at debt consolidation companies which in my humble opinion just worsens their situation. When you realize that you are in trouble financially, there are a few things that you can do yourself to help ease the situation.

The first step is to take action. Do not procrastinate or try to hide from your problems - it is like a weed garden out of control - eventually it will be too much for you to handle.

Understandably, some people feel so burdened with debt that they simply cannot get their financial situation under control. However, there is no need to be depressed or discouraged about your situation.

You CAN do something about it if you are serious about getting out of debt. It doesn't matter how terrible things may seem - with a bit of planning your debt woes can be solved.

A five point plant for solving debt problems

No matter how depressing your financial situation may seem, there are steps that you can implement to improve the situation.

Lets look at 5 things you can start doing immediately to ease your debt problems.

1. Do not make any more debt.

The very first step towards solving one's debt problems is not to make any more debt. It sounds simple but it is a principle that is often ignored. The point is, if you stop making debt your monthly living expenses will be reduced. You will also be saving on interest because any money you owe on naturally has an interest amount attached to it that has to be paid back.

Another thing is that if you stop making new debts, you will have more money to pay off your old debts faster. You cannot build wealth if all of your income goes out towards paying debts.

Whatever you do, do not make the mistake of borrowing money to pay off old debt. The borrowed money will also have interest that will have to be paid off, you will have another long period of having to pay off your newest debt and by doing this you will just be creating a cycle of never ending debt payments!

No matter how painful it might seem, only by refusing to incure new debt will you eventually be able to accumulate enough money to pay off your existing debts.

2. Negiotiate with your creditors.

So you have people knocking at your door night and day looking for money that you owe them...

Instead of sticking your head in the sand, face up to your problem and contact each and every person that you owe money to. Rather than not paying anybody, or picking a name out of hat, you could try and negotiate with your creditors to pay a smaller amount every month for a longer period until you have paid off the full amount. Most creditors would rather receive a reduced payment than no payment at all.

Do not ignore your money problems, be proactive about it.

Having debt problems is nothing to be ashamed of, most people find themselves in a situation like that at least once in their lives.

The difference lies in what one chooses to do about

it.

3. Selling assets

If you have any assets that you can dispose of to reduce your debts and ease your money worries you should do so. It is better to have just one car than to have two, not being able to pay your debt and eventually maybe losing your house.

If you have your grandmother's diamond ring stuck in a vault somewhere, sell it. Yeah, I know it has sentimental value but sentimental value does not put food on the table. Sometimes one just have to differentiate between what is essential and what is not.

If you own a house, why not rent it out and move to a smaller place in the interim. Do you really need to worry about keeping up with the Jones'? You can always move back once you have settled your debt.

There are many ways that you can solve your money worries. Assess your own unique situation and see what you can change to help you in your effort to get rid of bad debt.

4. Change your lifestyle

Harsh as it may sound, if you really want to get out of debt, you will have to look at what expenses you can cut out on.

Stop eating take away food - it is bad for you anyway. Stop buying weekly magazines. Do you really need that chocolate bar every time you go shopping? Pack your own lunch for work. Walk to work if you don't live to far away instead of taking your car or a bus.

Instead of buying the most expensive box of biscuits, settle for a cheaper one. Switch off the lights when you leave a room.

Most of all, try and set up a monthly budget and stick to it.

5. Increase your income If you can, try and find a part-time job to help earn extra money.

If you know anything about the internet, try and put up a website to sell something or earn money with Adsense.

There are many options available if one really looks around.

If you sincerely cannot find a way to increase your income, it is imperative that you implement the other 4 steps mentioned above.

In closing

It is absolutely not necessary to approach any debt consolidation companies to help you get out of debt if you are prepared to just do a little work. If you do it yourself you will get out of debt much sooner than if you try and do it through a debt negotiation or debt consolidation company.

It is better to cut down on expenses and to negotiate with your creditors in good time. Don't wait too long to do something about your debt problems or you could find yourself being declared insolvent and losing everything you own.

Getting out of debt may take you a while, but at the end of the day it will be worth your while. You will probably be able to do it without having to spend several years paying off extra debt if you use the services of a debt consolidation company.

About the Author:

You can get more information on debt consolidation here: http://www.debt-consolidation-made-easy.info

Source: www.isnare.com

Written By: Joan Masterson

5 Things In Selecting The Best Mortgage - You Should Know

Your goal is not only to find the best rates and programs, by searching through a huge number of lenders products, and save yourself thousands of dollars on mortgage payments every year, but also, to save time and hassle by simplifying the loan process and reducing the paperwork. Here are some things you can keep in mind when selecting a mortgage provider.

1. Shop For Rates

You should get instant online free quotes, and be able to apply securely online.

2. Apply Online

Be able to use a secure online application and let a qualified loan specialist help you find the best loan program.

3. Get Prequalified

Find out how much money you can borrow for your next home purchase!

4. Get Pre-Approved

Get free, no obligation pre-approved

commitment letter that you qualify.

5. Loan Processing And Approval

This is when your loan is processed, goes through underwriting and final approval.

Taking these steps will be in you best interest to secure a mortgage that will benefit you and your family. It will also help to save you money

Paul Kellum represents a full service mortgage broker / banker with a track record of over 10 years. We service loans relating to residential properties, including purchases, refinance, home equity loans, and home equity line of credit (HELOC), and debt consolidation. You can search and securely apply for the program that best fits your client's financial needs: http://www.loans-mortgage-refi.com/index.html

Written By: Paul Kellum

5 Things How Credit Report Rating Can Save You From Fictitious Credits

5 Things How Credit Report Rating Can Save You From Fictitious Credits
Let us see the bigger picture why there is a stirring need to check our credit report rating. To know the creditworthiness of an individual, lenders rely on credit report scoring or FICO scores. Credit report rating involves a predicative value that conveys to the lender whether said individual can pay on the time stipulated.
A credit report must be regularly checked in order for an individual as well as his lenders to have a good grasp of his credit report rating. A credit report rating is a rating made by authorized credit agencies that signifies a person's credit history. It is an integral part of contracting a mortgage or personal loan, whether it's a home mortgage loan, business loan, commercial loan, refinance or debt consolidation.
Why is there a need to check it? Here are the vital points why checking credit rating information is indispensable.
1.Credit reports acquaint people with the credit history of an individual, thus, neglect in checking it may mean obtaining new credit by giving the holder bad credit. If you have neglected your bills, defaults, mortgage inquiries and the likes, you can have access to them through your credit report.
2.Another factor is to avoid identity theft and bad credit report rating. Identity theft is an insidious crime which involves a person who assumes the true holder's name without the latter's knowledge in order to open new accounts, switch card statements and contract bad debts. Identity theft can put to risk your ability to obtain potential credit.
Another, if you have a very common name, chances are you may be sharing another person's name and age. The best way though to avoid

these things to happen is to check your credit report scoring. If your record has been wrongfully opened and disclosed, a notation must be put into the report.
3.Checking is also done to preclude credit fraud. This happens when a person has gained access to your credit card or account number. Said abuse may result to higher interest rates imposed by creditors, or worst, to deny the loan. Credit report rating in general, helps the holder catch up with his account.
4.Checking is also done to boost the holder's confidence. With this, an individual may know whether he is worthy of the credit he is pursuing. One of the reasons why an individual is less confident to contract credits is poor credit rating report. This is mostly because of unpaid bills.
5.To err is human, that is a blatant fact. Moreover, there can be inaccuracies involving late payments, mixed data and payments not credited to your credit rating information. If you do not check your credit report, you may have no way of knowing these inaccuracies.
Your credit report rating is the best resource to know the credit worthiness of an individual. Thus, a credit report is just as equally important as credit report rating. To safeguard the latter from unscrupulous individuals and circumstances, its holder must order a credit report regularly to manage his credit wisely while preparing for viable credit strategies.

About the Author

Khali S. is the founder of http://www.no-cost-credit-report.com - information site that shows you all about free credit reports, which companies to avoid and Free Tips & Tricks to boost your credit score legally.

Thursday, April 19, 2007

A Beginners Guide to the Best Online Loans

A Beginner's Guide to Low Interest Debt Consolidation Loans

100% Home Mortgage Refinance – Choose A Lender Online

100% Home Financing with Credit Score as Low as 570

16.4% APR $5,000 Auto Loan…HELP!

15 Simple Debt Elimination Steps You Must Start Today!

10 Tips To Reduce Your Exposure And Prevent Identity Theft

9 Steps to Get Out of Debt - Part 4

8 Ways To Consolidate Debt

8 Simple Steps To Becoming Debt Free

8 Point Checklist, Evaluating Online Vendors

8 Danger Signals To Foretell You Are On The Debt Road

7 Ways To Protect And Improve Your Credit Rating

7 Tips To Help Reduce Your Debt

7 Tips for Generating Online Leads Part 2

7 Tips for Generating Online Leads Part 1

6-Effective Ways to Shop For a Personal Loan

5 tips about Debt consolidation

5 Things You Can Do To Get Out Of Debt Legally

5 Things In Selecting The Best Mortgage - You Should Know

5 Things How Credit Report Rating Can Save You From Fictitious Credits

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