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Are 401Ks & IRAs WORTH IT? (Financial Independence & Early Retirement) | Investing For Retirement? ( Video

Are 401Ks & IRAs WORTH IT? (Financial Independence & Early Retirement) | Investing For Retirement, NEF6.COM


#Are #401Ks #& #IRAs #WORTH #IT? #(Financial #Independence #& #Early #Retirement) #| #Investing #For #Retirement

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Are 401Ks & IRAs WORTH IT? (Financial Independence & Early Retirement) | Investing For Retirement


Are 401Ks & IRAs WORTH IT? (Financial Independence & Early Retirement) | Investing For Retirement, NEF2.COM


Are 401Ks & IRAs WORTH IT? (Financial Independence & Early Retirement) | Investing For Retirement

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#Are #401Ks #& #IRAs #WORTH #IT? #(Financial #Independence #& #Early #Retirement) #| #Investing #For #Retirement

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What Are FHA Home Loan Requirements? | FHA First Time Home Buyer Requirements. \ Video

#What #Are #FHA #Home #Loan #Requirements? #| #FHA #First #Time #Home #Buyer #Requirements

What Are FHA Home Loan Requirements? | FHA First Time Home Buyer Requirements, NEF6.COM


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What Are FHA Home Loan Requirements? | FHA First Time Home Buyer Requirements


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Blue Planet Biomes – World Biomes

#what #are #biomes


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A biome is a large geographical area of distinctive plant and animal groups, which are adapted to that particular environment. The climate and geography of a region determines what type of biome can exist in that region. Major biomes include deserts, forests, grasslands, tundra, and several types of aquatic environments. Each biome consists of many ecosystems whose communities have adapted to the small differences in climate and the environment inside the biome.

All living things are closely related to their environment. Any change in one part of an environment, like an increase or decrease of a species of animal or plant, causes a ripple effect of change in through other parts of the environment.

The earth includes a huge variety of living things, from complex plants and animals to very simple, one-celled organisms. But large or small, simple or complex, no organism lives alone. Each depends in some way on other living and nonliving things in its surroundings.

To understand a world biome, you need to know:

  • What the climate of the region is like.
  • Where each biome is found and and what its geography is like.
  • The special adaptations of the vegetation.
  • The types of animals found in the biome and their physical and behavioral adaptations to their environment.

Ecological Relationships of Biomes

The survival and well being of a biome and its organisms depends on ecological relationships throughout the world. Even changes in distant parts of the world and its atmosphere affect our environment and us. The eruption of a volcano in Mexico, or Southeast Asia can bring the temperature of the whole world down a few degrees for several years.


Low documentation home loans: what are they and should you apply? #stafford #loan


#low doc loans
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Low doc home loans

Low doc loans are designed to assist people who do not qualify for a traditional home loan to buy a property. Low doc (or low documentation) loans still require the application to be made in writing, however you may not be required to provide much of the paperwork that is necessary with standard home loans, such as proof of income, assets or liabilities. The low doc loan relies more on a method called self-verification, where you state your income without the verifying documentation.

Who can benefit from a low doc loan?

Low doc loans are designed to benefit those people who have some existing equity or a deposit saved, and have trouble showing evidence of regular income. This could apply to the self-employed or casual workers. Low doc loans could also be made available to people with a bad credit history.

Low doc loans are also sometimes abused by people who have income they have omitted to declare to the taxation office. Failure to declare taxable income is an offence and, if caught, offenders are forced to pay penalties that far outweigh the savings they intended to make by breaking the law.

Why should I take out a low doc loan?

If you fall into any of the categories above and wish to purchase a property, a low doc loan could be your only option for obtaining the required finance. As with any major financial decision, always weigh up the pros and cons and determine whether you can afford the repayments. There could also be extra costs involved as many lenders will charge an inflated interest rate when standard documentation is not produced on application. Mortgage insurance is also a standard requirement with low doc loans, which adds further to the cost.

Most low doc loans will cover up to 80% of the value of the property (80% LVR), although the more financial documentation you can present to the lender, the higher the percentage could be.

Types of low doc loans

There are three main types of low doc loans: self-declared income, account statement and asset lend. Each of these low doc loans have slightly different eligibility requirements.

Self declared income

The most common low doc loan, where the lender will offer a home loan on a signed declaration of income, with no accompanying evidence. In general, 80% of the property value is loaned and the interest rate can be higher than a standard loan

Account statement

Requires more substantial income evidence, such as a letter from your accountant, however interest rates are usually more in line with a standard home loan .

Asset lend

This type of low doc loan requires the least evidence to be presented, in some cases no proof of income or signed declaration is needed. The loan is secured purely on the value of the property. These loans have substantially higher interest rates and, in general, a lower percentage of the value of the property can be borrowed.

What to look out for

Low doc loans generally have certain conditions and extra costs attached, such as:



Interest Rates on Student Loans Are Expected to Drop Soon – Bloomberg Business #pensioner #loans


#college loan interest rates
#

Interest Rates on Student Loans Are Expected to Drop Soon

In a rare bit of good news for students facing hefty college bills, interest rates on federal student loans are expected to head lower soon.

Rates on U.S. student loans are on track to drop by half a percentage point for the upcoming academic year when they are reset in July. As tuition prices escalate, borrowers have racked up $1.2 trillion in student debt, mostly in federal loans.

The expected reset would mean a college student with the average $28,000 in federal loans could save about $800 over 10 years in the most popular loan program for undergraduates, called the Stafford, assuming rates stay constant, according to a government financial-aid calculator. Currently, borrowers pay 4.66 percent annually.

“It’s a lucky time to get a student loan,” said Ward McCarthy, chief financial economist at Jefferies Co. “Historically, these rates are extremely low.”

The shift won’t help students saddled with older loans that have fixed interest rates as high as 8.5 percent. Since last June, U.S. Senate Democrats, led by Elizabeth Warren of Massachusetts, have unsuccessfully tried twice to pass bills letting student-loan borrowers refinance their existing loan balances at lower interest rates.

Congress sets the interest rates on student loans each year, based on the yield of the 10-year Treasury note yield at its May auction. The yield was 2.24 percent on Wednesday, 0.37 percentage point lower than the rate at the government’s auction a year ago, suggesting that student-loan rates will fall by about that amount. Rates for this academic year can be as high as 7.21 percent for certain graduate-school loans.

Of course, there’s a flip side to an interest rate decline, according David Bergeron, a former Education Department official. Families who are socking away money for college in bonds and certificates of deposit are out of luck, since they aren’t getting much of a return on their money.

“If you’re saving for college, this makes it harder,” said Bergeron, now a vice president at the Center for American Progress, a Washington-based policy research group.

(An earlier version of this story corrected the 10-year savings in third paragraph.)



FHA Loans – What are 203k Loans? #sba #loan #requirements


#what is an fha loan
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FHA 203k Loans: What Are They? What Are the Benefits?

In this article:

Getting a Mortgage Loan for a Fixer-Upper: A Primer on FHA 203k Loans

The idea of buying a fixer-upper and turning it into your dream abode can seem so perfect every nook and cranny just to your specifications! The reality, however, can be harsh. When you realize how much it will cost to remodel, you often also realize that you can t afford it. Or you find out that a lender won t give you a loan because the home is considered “uninhabitable” as it is. That s where an FHA 203k loan comes in.

An FHA 203k loan is a loan backed by the federal government and given to buyers who want to buy a damaged or older home and do repairs on it. Here s how it works: Let s say you want to buy a home that needs a brand-new bathroom and kitchen. An FHA 203k lender would then give you the money to buy (or refinance) the house plus the money to do the necessary renovations to the kitchen and bathroom.

Often the loan will also include: 1) an up to 20 percent “contingency reserve” so that you will have the funds to complete the remodel in the event it ends up costing more than the estimates suggested and/or 2) a provision that gives you up to about six months of mortgage payments so you can live elsewhere while you re remodeling, but still pay the mortgage payments on the new home.

Which Repairs Qualify?

There are two main types of FHA 203k mortgage loans. The first is the regular 203k, which is given for properties that need structural repairs such as a new roof or a room addition; the second is the streamlined 203k, which is given for non-structural repairs such as painting and new appliances.

Among the other repairs that an FHA 203k will cover: decks, patios, bathroom and kitchen remodels, flooring, plumbing, new siding, additions to the home such as a second story, and heating and air conditioning systems. The program will not cover so-called “luxury” improvements such as adding a tennis court or pool to the property.

How Much Money Can You Get?

The maximum amount of money a lender will give you under an FHA 203k depends on the type of loan you get (regular vs. streamlined). With a regular FHA 203k, the maximum amount you can get is the lesser of these two amounts: 1) the as-is value of the property plus repair costs, or 2) 110 percent of the estimated value of the property once you do the repairs. With a streamlined loan. you can get a loan for the purchase price of the home plus up to $35,000. To determine the as-is value of the property or the estimated value of the property post-repair, you may need to have an appraisal done. You will be required to put down 3.5 percent, but the money can come from a family member, employer or charitable organization.

What Kinds of Properties Qualify?

Qualifying homes include: a one- to four-family home that has been completed for a least a year; a home that has been torn down, provided that some of the existing foundation is still in place; a home that you want to move to a new location. The home cannot be a co-op, but some condos are eligible.

Your property will also have to qualify under the usual FHA requirements. For example, its value cannot exceed a certain maximum amount, which depends on where you live.

What Are the Pros and Cons of These Loans?

The main benefit of these loans is that they give you the ability to buy a home in need of repairs that you might not otherwise have been able to afford to buy. Plus, the down payment requirements are minimal, and often you get decent interest rates (note that the interest rates and discount points will vary by 203k lender, so it s important to make sure that you re getting a good deal on the loan).

The downsides are that not all properties qualify, there are limits on the funding you can get and applying for the loan isn t easy. For example, to apply for the loan you may need to hire an independent consultant to prepare the exhibits required (to get the loan, you have to provide a detailed proposal of the work you want to do and cost estimates for each item). Get more information on 203k loans .



Credit Unions Are Good for Auto Loans #refinance #auto #loan


#used car loans
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Credit Unions Good for Auto Loans

By Keith Griffin. Used Cars Expert

Keith Griffin has been an automotive journalist and new car reviewer for more than 13 years. His experience as a journalist dates back 35 years. He is currently immediate president of the New England Motor Press Association.

Less than one in five used car loans are made from credit unions, which is surprising because they can be a great source of low-cost loans because they can offer competitive financing rates to their members versus other institutions.

What’s a Credit Union?

Credit unions are financial institutions formed by a group of people with a common bond (like a church, business or union). Credit union members pool their assets to provide loans and other financial services to each other.

These factors allow credit unions to pay dividends to their members (not shareholders) and offer them lower loan rates, higher savings rates and fewer service fees.

Who Can Join a Credit Union?

There are various types of credit unions. Some are affiliated with professional groups, others are part of companies, and some credit unions have geographical requirements for membership. So, basically you can join some depending on where you live.

Typically, credit unions are smaller organizations, which means you’re also going to get faster service.

Decisions are almost always made locally. Your loan check is going to be cut right there so you avoid overnight delivery fees. Other processing fees are typically lower, too.

Possible Savings

According to CUDL. the country s leader in indirect and point-of-sale lending for the credit union industry, credit unions accounted for 16.9 percent of all auto loans originating in 2007, down slightly from 18 percent in 2006. The average used-vehicle loan amount was $18,199 in 2007, a $45 increase from 2006.

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The advantage to credit unions is they are owned by their members and are not-for-profit. Terms are usually better with lower interest rates. That means your loan is going to be shorter. CUDL reports that used-vehicle loans, meanwhile, decreased in average maturity from 70 months to 65 months in 2007.

Get Shorter Loans

Find a Credit Union

The Credit Union National Association (CUNA) maintains a website that can help you find a credit union near you. It also has some good financial tools that could be helpful when making decisions about your loan.



Are Student Loans BAD DEBT? #payday #advance


#bad debt loans
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Are Student Loans Bad Debt?

Q: Are student loans considered bad debt? Or do student loans make sense for some students?

A: Student loans are not always a bad option, but you need to be careful about accepting any loan.

You need to be especially careful with student loans because it is easy to borrow too much, and student loans cannot be discharged in bankruptcy. So whatever you borrow, you need to be able to repay.

The general rule with loans is this: It is better to take a loan for something that increases in value over time than for something that decreases in value over time.

So for example, a home mortgage makes sense because the value of the house will increase over time. This is what people call ‘good debt’ because you are buying an asset. An asset is something that can earn you money over time.

On the other hand, an expensive car loan is bad because the value of the car quickly decreases over time. This is what people call ‘bad debt’ because you are buying a liability. A liability is something that will never earn money over time, it only costs money.

So before you borrow one penny, you need to ask yourself what your education will be worth over time. You need to plan for what your career will be after you graduate from school. For example, a law, medical, business, or engineering degree will almost always earn more than a psychology, history, or communications degree. So plan accordingly and avoid debt whenever you can.

How Do I Pick the Right Student Loan?

If you must take out a student loan, you need to start by completing the FAFSA form at www.fafsa.ed.gov

Most students will need help from a parent to complete the FAFSA, but this is the only way to get access to low-cost federal student aid.

1. There are three types of federal student aid:

Grants: This is financial aid that does not have to be repaid (unless, for example, you withdraw from school and owe a refund).

Work-Study: This program allows you to earn money for your education. This aid does not have to be repaid.

Federal Loans: These loans allow you to borrow money for your education. You must repay all loans, with interest. Federal loans come with fixed interest rates and are usually the cheapest form of student loans.

2. Beyond federal aid, there are also private student loans:

Private Student Loans: These loans are usually offered by banks to help you pay your education costs. Unlike federal student loans, private loans come with variable interest rates that can change monthly or quarterly. To qualify, most students need to apply with a creditworthy cosigner (such as a parent).

To save money, students should make use of all of their federal student aid options before considering a private student loan.

3. So here are all the student loan options to consider:

Federal Perkins Loans (Best Choice Option)

– Low fixed rate

– Receive up to $5,500 a year

– No payments until after school

Perkins Loans are made through participating schools to undergraduate, graduate and professional degree students. They are offered to students who demonstrate financial need and are enrolled full-time or part-time. These loans must be repaid to your school.

Federal Stafford Loans (Best Choice Option)

– Low fixed rate

– Receive up to $8,500 your first year

– No payments until after school

Stafford Loans are for undergraduate, graduate and professional degree students. You must be enrolled as at least a half-time student to be eligible for a Stafford Loan. There are two types of Stafford Loans: subsidized and unsubsidized. You must have financial need to receive a subsidized Stafford Loan. The U.S. Department of Education will pay (subsidize) the interest that accrues on subsidized Stafford Loans during certain periods. Financial need is not a requirement to obtain an unsubsidized Stafford Loan. You are responsible for paying the interest that accrues on unsubsidized Stafford Loans.

Federal PLUS Loans for Parents (Good Choice Option)

– A federal loan that parents can use for a child

– Low fixed rate

– Receive up to total cost of education

The PLUS Loan can be a good option if a parent is willing to help you pay for school. PLUS Loans are loans parents can obtain to help pay the cost of education for their dependent undergraduate children. Some parents prefer the PLUS Loan to home equity loans because they do not have to put their home at risk. It is also a better option for parents who may be considering taking money out of a retirement account for education purposes. In addition, graduate and professional degree students may obtain Graduate PLUS Loans to help pay for their own education.

Private Student Loans (Good Choice Option for Borrowers with Great Credit)

– Must have good credit or cosigner to qualify

– Comes with a variable or fixed interest rate

– Can usually cover all education costs

Private student loans from banks can be a good option after you have maximized all of your federal student aid options first. Because private student loans are typically more expensive than federal student loans, it is not recommended that you use a private loan to cover all of your education costs. If you must take out a private student loan, use those funds to cover your extra or left-over expenses. Also, if possible, it is a good idea to make interest payments on your private loan while you are still in school. If you do not, you may be surprised by the amount of interest that has accrued while you were in school. If you are a graduate or professional degree student, consider the Graduate PLUS Loan before taking out a private student loan.

Last word of advice: Check out your free money options before considering any student loan.



Are Interest Free Car Loans Too Good to be True? #no #fax #payday #loans


#interest free loans
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Should I Take Advantage of an Interest Free Car Loan?

By Miriam Caldwell. Money in Your 20s Expert

Miriam Caldwell is a freelance writer with a specialty in personal finance. She believes that you can lay a solid foundation by starting to manage your finances in your twenties.

Question: Should I Take Advantage of an Interest Free Car Loan?

However it is important to realize that a car is a depreciating asset. Many people consider cars an investment because of the large purchase price, but a true investment should bring you a rate of return for the money you spend, and a car will not. Generally speaking a car will lose anywhere from $1600.00 to $2500.00 dollars in the first year of ownership. Most cars will depreciate from between $6500.00 to $10,000.00 over the first five years of the life of the car.

If you realize that the car is going to depreciate in value over time, the next question is to look at how much interest you will be charge over the life of your loan to see if you will come out ahead by buying a used car at a lower purchase price.

With the purchase price of $12,000.00 and an interest rate of six percent you will end up paying interest of about $1160.00 over the life of a three year loan.

It is also important to realize that the value of a car depreciates much more rapidly the first three years of the life of the car and begins to slow down by the time it is five years old. So although the car will continue to depreciate in value it will do so at a much lower rate.

Looking at the average numbers buying a three year old or a five year old car will save you money in the comparison of interest paid out ($1160.00) to the average cost of depreciation of the first year ($1600.00-$2500.00), which doesn’t take into account the further cost of depreciation over the next two or three years.

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Although buying a new car with an interest free loan may seem like a good idea on the surface, you will still lose more money than if you were to buy a used car with a loan that has interest. The loss will be even more if you roll your old car loan into a new one . If you can purchase your car with cash you will end up losing even more money in comparison with buying a new car. Additionally many used cars come with warranties and are still very reliable.



Are personal loans bad for your credit score? #government #business #loans


#credit loans
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Are personal loans bad for your credit score?

Taking out a personal loan is not bad for your credit score in and of itself. However, there are several factors that come with taking out a new loan that could affect your overall credit score.

What Factors Into Your Credit Score

To understand how taking out a personal loan affects your credit score, you must first understand how the score is calculated. Roughly 35% of your overall credit score is based on your payment history. Thirty percent of your score is based on the total amount of debt you owe. Ten percent of the score is based on the number of credit lines that you have opened recently.

The last two factors are initially impacted by a new personal loan. Your total debt increases overall, and a new credit line is opened. The credit agencies take note of this activity and could possibly lower your credit score based on the new loan. However, your overall credit history has more impact on your credit score than a single new loan. If you have a longer history of managing debt and making timely payments, the effect on your credit score from a new loan is likely to be lessened.

Keeping a New Personal Loan From Damaging Your Credit Score

The easiest and best way to keep a personal loan from negatively affecting your credit score is to continue making payments on time and to pay off the debt within the terms of the loan agreement. A personal loan that you pay off in a timely fashion can actually have a positive effect on your credit score; it demonstrates that you can handle debt responsibly.



What Are Modern Day Loan Sharks? #compare #loan #rates


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What Are Modern Day Loan Sharks?

Home > Debt Help > What Are Modern Day Loan Sharks?

After watching a few episodes of Discovery’s Shark Week. I was surprised that the most infamous shark wasn’t highlighted – the loan shark.  I guess the marine biologists don’t give much thought to loan sharks, but I can’t help but to tie things to a financial reference when possible.

With the advent of the credit card and lines of credit at local banks, loan sharks have lost popularity in the last 50 years, but they’re not extinct! We’ll look at how loan sharks have evolved, but first let’s take a look at the history of loan sharks and the practice of usury.

What is Usury?

Usury is a word used to describe the practice of charging excessively high (and often illegal) interest on loans. The practice of usury dates back to Biblical times and in the Old Testament, we find instructions for the Israelites on how they should handle money.

If you lend money to one of my people among you who is needy, do not treat it like a business deal; charge no interest. – Exodus 22:25 NIV

You must not lend them money at interest or sell them food at a profit. – Leviticus 25:37 NIV

He does not lend to them at interest or take a profit from them. He withholds his hand from doing wrong and judges fairly between two parties. – Ezekiel 18:8 NIV

The Israelites were instructed never to borrow from anyone, but they could lend to foreigners. Interestingly, they were instructed never to lend to each other, which is a great topic to discuss in itself!

Modern Day Loan Sharks

Fast-forward to the 1800s and you’ll find that small loans were undesirable because of the stigma behind it. People were looked down upon if they had to borrow a small amount. Also, banks and other financial institutions stayed away from this form of lending, so those in need of a loan sought out private lenders who often provided loans at very high rates.

Since it was actually illegal to charge exorbitant rates for loans, the loan shark didn’t have any legal way to go after the borrower if they didn’t repay, so they would use other means to scare them into paying. To enforce contracts, these loan sharks used blackmailing and harassment, and violence was added with gangs of loan sharks in the 1900s.

As for today, states regulate the maximum rate at which a loan can be made, putting the loan shark of old on the endangered species list. However, as a way to bypass the rules to charging interest, payday loans. sub-prime lending. and non-standard consumer credit have found ways to provide the money advancement service for individuals in need of loans. Generally, the borrowers will have lower credit and limited resources to get a loan elsewhere, so they will use a borrowing service to advance a paycheck.

Lending always seems to be evolving, but it’s interesting that there’ll always be a loan shark in some form – you just need to pay attention!

How are you doing at staying away from the loan sharks? Leave a comment!



Your Money: Car loans are cheap, but shop around #department #of #education #loan #consolidation


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Your Money: Car loans are cheap, but shop around

Scott Halleran, Getty Images

New luxury sedans are seen at the Mercedes-Benz of Houston Greenway dealership in Houston.

New luxury sedans are seen at the Mercedes-Benz of Houston Greenway dealership in Houston. less

It’s hard to beat the thrill of jumping behind the wheel of a new car at the North American International Auto Show, especially if your clunker is already 9 or 10 years old.

But how exciting is a car loan? Just itching for another monthly payment? Yeah, right.

The hot news about car loans this year, though, is that rates are lower than last year — so shopping around for car loan could prove invigorating when you snag a real deal.

“We’ve never seen rates this low” in the surveys of banks and credit unions, said Greg McBride, senior financial analyst at Bankrate.com .

Bargain car loan rates — both for used and new cars — are hovering around 3% or so now at banks and credit unions.

Plenty of carmakers are offering 0% and 1.9% financing on several models, too. But make sure to run the numbers on various online calculators to determine whether you’d be better off taking a cash-back rebate than 0% financing, if given a choice.

In mid-January, the average new car loan rate was 4.15% for a five-year new car loan at banks and credit unions surveyed by Bankrate.com .

The average used car loan rate was 4.77% for a four-year used car loan, according to Bankrate.com.

“We’re in a prolonged low-rate environment, and I don’t think they’ve bottomed yet,” McBride said.

Another trend: Some lenders are offering new car loans that go beyond five years, say 72-months, and a few are rolling out 84-month car loans.

Comerica’s 3.99% rate, for example, applies to 60-month and 72-month car loans.

Melinda Zabritski, director of automotive credit for Experian, said some consumers with lower credit scores can qualify for a more expensive new car if they opt for a six-year loan instead of five years.

Some consumers with higher scores opt for seven-year car loans to buy luxury brands, she said.

“A lot of it is an effort to make some expensive vehicles a little more affordable on a month-to-month basis,” Zabritski said.

Be warned, though: Dragging out a car loan to six or seven years drives up total interest paid for a car; and a consumer risks owing more on the car than it’s worth when it comes time to sell.

Another warning: If you don’t shop around for a car loan rate, though, it’s easier to get taken for a ride on rates.

“We see greater disparity in auto loan rates than any other product,” McBride said.

Lenders often decide what kind of market share they want in the auto loan business and price their car loans accordingly. And yes, many realize that consumers don’t shop for car loans as diligently as they should.

Does that mean everyone gets a car loan at less than 5%? Absolutely not. Rates vary by credit history.

The Detroit-based Communicating Arts Credit Union had received an initial $1.5 million federal grant in November 2011 to develop a bailout program for people who have extremely high car loan rates.

As part of that program, the credit union had 34 auto bailouts that had original car loan rates in excess of 19%. One customer refinanced a rate of 25% to 3.25%.Other customers refinanced rates of nearly 25% to a range of 9.5% to 12.5%.

Going to 5% from 25% would drop the monthly payment to $188.71 from $293.51 on a five-year, $10,000 car loan.

Hank Hubbard, president and CEO of the Communicating Arts Credit Union, said many times shoppers don’t realize they have alternatives. Some old loans may have been made during the credit crunch.

We’ve swung from one extreme where anyone could get a car loan during the economic boom to another extreme where lenders were paranoid about making loans to creditworthy consumers during the financial meltdown.

Now, “Lenders are certainly making loans available,” Experian’s Zabritski said.

Typically, Toprak said, someone with a 620 credit score could be getting a rate of 8.9% or higher now; while someone with a 500 credit score could be offered 13.9% now.



What Are Simple Interest Mortgages? Mortgage Professor #interest #loan #calculator


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If two loans are exactly the same but one is simple interest, I would take the traditional mortgage. You will pay more interest on the simple interest mortgage unless you systematically make your monthly payment before the due date.

What Are Simple Interest Mortgages?

January 5, 2004, Revised July 16, 2004, April 15, 2005, November 27, 2006, April 29, 2008

What are the benefits/drawbacks of a simple interest loan versus a traditional mortgage? Which would you take if offered the choice?

If two loans are exactly the same but one is simple interest, I would take the traditional mortgage. You will pay more interest on the simple interest mortgage unless you systematically make your monthly payment before the due date.

Calculating Interest on a Simple Interest Mortgage

The major difference between a standard mortgage and a simple interest mortgage is that interest is calculated monthly on the first and daily on the second.

Consider a 30-year loan for $100,000 with a rate of 6%. The monthly payment would be $599.56 for both the standard and simple interest mortgages. The interest due is calculated differently, however.

On the standard mortgage, the 6% is divided by 12, converting it to a monthly rate of .5%. The monthly rate is multiplied by the loan balance at the end of the preceding month to obtain the interest due for the month. In the first month, it is $500.

On the simple interest version, the annual rate of 6% is divided by 365, converting it to a daily rate of .016438%. The daily rate is multiplied by the loan balance to obtain the interest due for the day. The first day and each day thereafter until the first payment is made, it is $16.44.

[Note: On many commercial mortgages, the annual rate is divided by 360 instead of 365, making the daily rate a little larger.]

The $16.44 is recorded in a special accrual account, which increases by that amount every day. No interest accrues on this account, which is why it is called simple interest . See The Nomenclature of Simple Interest Mortgages. or Mortgage Concepts Homebuyers Should Know.

When a payment is received on a simple interest mortgage, it is applied first to the accrual account, and what is left over is used to reduce the balance. When the balance declines, a new and smaller daily interest charge is calculated.

Total Interest Payments on a Simple Interest Mortgage

How does this work out for the borrower? We know that a standard 30-year mortgage pays off in 30 years. Beginning January 1, 2004, this amounts to 10,958 days. On a loan of $100,000 and an interest rate of 6%, total interest payments amount to $115,832.

On the simple interest version of the same mortgage, assuming you pay on the first day of every month, you pay off in 10,990 days, or 41 days later than with the standard mortgage. Total interest payments are $116,167 or $335 more.

These are small differences, due largely to leap years. Over the 30 years beginning 2004, there are 8 years with 366 days, and the lender collects interest for those days. Leap years do not affect total interest payments on a standard mortgage.

The disadvantage of a simple interest mortgage rises with the interest rate. At 12%, and continuing to assume payment on the first day of every month, it pays off in 11,049 days or 91 days later than the standard mortgage. Total interest is $3082 higher.

Total Interest When Payments Are Late

But the borrowers who really get clobbered by the simple interest mortgage are those who pay late. The standard mortgage has a grace period within which borrowers can pay without penalty. On a simple interest mortgage, in contrast, borrowers pay interest for every day they are late.

Suppose the borrower pays on the 10th day of every month, for example. With a standard mortgage, he gets a free ride because of the grace period. With a simple interest mortgage at 6%, he pays off 101 days later than the standard mortgage and pays $1328 more interest. At 12%, he pays off 466 days later and pays $15,137 more interest.

Penalties for payment after the grace period work the same way on both types of mortgage. For this reason, I have not included penalties in the calculations.

Borrowers making extra payments also do better with a standard mortgage. A borrower who includes an extra $1,000 in his regular monthly payment, for example, will save the interest on that $1,000 for each day the payment is late, provided it is within the grace period. With a simple interest mortgage, in contrast, interest accrues for those days.

Making Payments Early

The only transaction that works out better for the borrower with a simple interest mortgage is monthly payments made early. If every month you pay 10 days before the payment is due, for example, you pay off 40 days sooner than the standard mortgage at 6%, and 254 days earlier at 12%. There is no benefit to early payment on a standard mortgage, since it is credited on the due date, just like a payment that is received 10 days late.

Bottom line: other things the same, take the standard mortgage. But if you are stuck with a simple interest mortgage, make it a habit to pay early; it will pay big dividends.

Note: Simple interest biweekly mortgages raise other issues. See Simple Interest on a Biweekly .

Days to Payoff and Total Interest Payments on a Standard Mortgage and Simple Interest Mortgage of $100,000 for 30Years Beginning January 1, 2004



Safe Payday Loans Are Finally Offered Online #cash #advance


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Representatives at http://fastpaydayloans.ws/ recently announced that safe payday loans are available to help consumers through temporary financial difficulty.

Our company top priority is providing reputable payday loans to consumers in need.

(PRWEB) August 01, 2012

A recent report published by the Securities Exchange Commission on financial capabilities of consumers showed that over half of the population has difficulty paying monthly expenses. In addition to this, the report showed that most people do not have money set aside for unpredictable financial emergencies. The research also showed that about 20 percent of the population must borrow money during these times to make ends meet.

For such situations, FastPaydayLoans now offers safe payday loan options to help people get back on their feet. These are legit cash advance loans, one representative stated. He went on to explain that his company believes in laying out the terms of payday loans before customers sign the papers.

It is difficult for people to find legitimate cash advance lenders, another representative said. People want to know they can trust their lenders. FastPaydayLoans offers legal payday loans to qualified applicants. The best part about these fast and reliable payday loans is that almost anyone qualifies, explained one smiling representative. This means people who have less-than-perfect credit can still get the financial help they deserve. Since payday lenders do not check credit history, an applicant s job or income status is equal to a good credit score during the approval process.

Whether someone is searching the Web for an integrity cash advance or hassle free payday loans, they should know there are reliable options, a representative said. Lenders offering payday loans without credit checks often call their products guaranteed cash advance loans. Applicants must submit their contact information, address, employment or income information and banking information. The approval process is short, and it includes a call to the applicant s employer to verify employment.

Customers are still getting trusted payday loans, a representative said. Personal banking information is required for the lender to send the funds to the borrower as quickly as possible. In many instances, payday lenders are able to transfer the funds within 24 hours. Representatives also explained that these secure payday loans have short repayment terms. Shorter repayment terms are necessary to avoid higher interest costs.

When asked what customers typically use their legitimate payday loans for, a representative responded, Well, consider a person who must pay rent but just paid for an emergency root canal. That person would be short on cash from the dental bill. Instead of paying for heightened late fees or risking eviction, the person could get a payday loan to cover rent charges. Repayment could happen as soon as the next paycheck arrives. The representative also stressed that these loans are not intended for paying off long-term debts.

Representatives at FastPaydayLoans agreed that the company s top priority is providing reputable payday loans to consumers in need. They welcome people with bad credit or those who do not have time to wait for a bank s lengthy approval process.

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Personal Loans: Low-Interest Solutions Are Available From Now #small #loans #for #bad #credit


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A few years ago, the New York Times reported that companies offering personal loans with low interest are more numerous in some areas than traditional franchise operations. Now http://lowinterestpersonalloans.ws/ offers competitive, low interest unsecured personal loans that can help borrowers get out of a crisis.

(PRWEB) July 30, 2012

Low interest bad credit personal loans are offered by a variety of lenders. Some banks compete with private lenders and offer terms that appeal to consumers. However, low interest rate personal loans offered through traditional financial institutions also rely on the borrower s credit history to determine the terms of repayment. This criterion excludes a large portion of the population.

With low interest personal loans bad credit issues disappear. Customers come from a variety of backgrounds. Some are in serious financial trouble simply because their bank refused to lend them any more money. Others borrowers have been trapped by high interest rates on previous loans. These borrowers often believe that no one will loan them money at a low interest rate. They might have a bankruptcy in their past, or a bad credit score might have invalidated their previous loan applications.

However, there are other indicators that can be used to determine a customer’s ability to repay personal loans with low interest rates. Borrowers who understand that each lender offers different terms of repayment are likely to find a satisfactory lending solution. If a borrower does not qualify at one institution, they can obtain a loan from an alternate source. Most borrowers can find a loan that will adequately meet their needs.

With online lending, the application process is expedited. Funds are often released within 24 hours. In addition, there are no limitations or stipulations imposed by the lender. There are no disclosure requirements or restrictions on how the money is used. This provides an unprecedented amount of flexibility for consumers as well as small business owners.

Personal loans low interest rates reduce the balance owed. Conversely, the amount of money that can be safely borrowed is effectively increased. A low interest rate loan allows customers to plan their finances ahead of time. Consumers can take advantage of this opportunity to obtain cash quickly and put it to work immediately. The money is instantly available, and it can be used to address the borrower’s highest priorities.

The application process has been simplified by the Internet. This flexibility enables people to resolve their most difficult financial situations discreetly. When used wisely, these funds can improve most short-term emergencies. For example, low interest personal loans for debt consolidation can help borrowers out of a credit crisis. Although these low interest personal loans for people with bad credit are easy to obtain, they must be handled responsibly.

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No Credit Check Home Loans Are Easy To Obtain #online #payday #loans #no #credit #check


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Simple Application Process

The process for getting the home loan started is simple. The first step is to complete the application and send it off to the lender for approval. Each lender will have different requirements for qualifying for the loan. You should check the requirements with the lender of your choice before applying.

Even though there is not a credit check required the lender will still complete a background check. This includes the lender checking the applicant’s character as well as employment status and even the family background. Some lenders will even contact the applicant’s banks and employer to verify information. When a lender is dealing with someone who is applying for a mortgage loans without credit check they understand that it is probably because there is bad credit involved. They will concentrate mainly on the amount of income that the applicant brings into the home and the number of their dependants. That is the best way for them to decide on affordability. It is important to mention that the applicant’s credit history will be reviewed to see if there is a previous bankruptcy or anything similar that makes the borrower look a significant risk.

Costs Other Necessary Terms

Even though home loans are easy to obtain they do not come cheap. These loans carry a high interest rate. If you have successfully paid installments for a period your credit history will be improving. You might then like to look into refinancing the loan at a cheaper rate to save money in the long run.

The news is good! There is help out there and if you are uncertain about anything at all it is obviously worth getting advice. If you manage to repay any loan successfully in the future your credit status will improve and your financial health will improve at the same time.



The power of Instagram: Brands eye more social media influencers, are banner ads effective.#Are #banner #ads #effective


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The power of Instagram: Brands eye more social media influencers

Are banner ads effective

Forget models in magazines.

More consumers are buying goods and services based on what they see in their Instagram feed, recent trends suggest.

The shift is happening for good reason, and it’s forcing companies to adapt. A new study by TapInfluence found that social media influence marketing is 11 times more effective than banner ads, meaning that social media accounts with wide followings, so-called “influencers,” are coveted by companies looking to reach plugged-in consumers.

The dynamic means that advertising dollars are increasingly flowing to social media-based campaigns. According to a 2015 study by eMarketer, Instagram’s global mobile ad revenues are expected to close in on nearly $3 billion by 2017. That figure would accounting for over 10 percent of the revenues of Facebook, its parent company.

The new paradigm underscores the influence of social media, and users who are shunning traditional methods of consuming information. In the brave new world of streaming and social networks, companies are finding there’s less payoff in television and print media advertising, some experts say.

“Consumers trust the opinions of those in their social media group, including friends, bloggers and celebrities, more than messages they are getting directly from brands,” Liz Dunn, founder CEO of Talmage Advisors, told CNBC. “As a result, retailers and brands are trying to cultivate relationships with influencers to gain consumer attention.”

The power of an influencer

Are banner ads effective

Are banner ads effective

Instagram, for example, has become a wonderland for consumer products as diverse as food, clothes and grooming. On any given day, users harness the platform’s viral capabilities to sell or endorse products—and they don’t have to be celebrities, either.

Ashley Wilking, a New York-based fitness instructor, uses social media heavily as an extension of her own brand. “I like to incorporate products that I use in my everyday life,” she told CNBC. Wilking works with Indie Fresh, a New York based startup, which sells fresh smoothies, soups and more.

In an Instagram post, she often poses holding its products and offers a 10 percent off discount to her nearly 5,000 followers. The discount code is specific to her name “ashleywilking10,” so the company can easily track how many sales are coming from her. In return, Wilking gets discounted products herself.

Shom Chowdhury, Indie Fresh’s CEO, told CNBC that social media engagement is significantly higher with people than with brand pages. “We wanted to make our products part of people’s daily lifestyles,” he said. In return for the athletes that promote his products, athletes get discounts. “Instead of saying, ‘we want X amount of posts for this amount of payment,’ we decided to set up the athletes with discount codes,” he said.

Chowdhury said he previously used Facebook ads, but the adoption rate wasn’t as high as using influencers.

Aloha, which sells fresh protein and nutrition products, uses a similar model. “You’re more influenced by what they’re posting if you saw a banner ad,” Lee Hurley, the startup’s marketing director, told CNBC. “The things someone is promoting, you’re more likely to investigate it or purchase it down the line.”

Macy s gets in on the action

It’s not just startups, however. Now, legacy companies like Macy’s are tapping into influencers as their way of advertising.

Earlier this year, Macy’s Bar III launched a new social campaign, “#SettingTheBar,” aimed at highlighting millennials who create their own styles and influence others.

“The influencers we feature tell an aspirational yet relatable story,” Nancy Slavin, senior vice president of marketing at Macy’s merchandising group, told CNBC. That enables the company “to connect with consumers in a more interesting and ultimately more engaging way than traditional marketing allows.”

With 85 cents of every new dollar spent in online advertising going to Facebook and Google, should the tech giants be worried their own users are biting the very hands that feed them?

“They’re aware of this trend for sure, and they’ll likely create new ways to encourage and enable influencers posting on their platforms,” said Yory Wurmser, an analyst at eMarketer. “You’re already seeing some of this with the video offerings on Facebook and Facebook Live, and with various new ads on YouTube.”

Wurmser says, despite slight shifts in ad dollars, Facebook and Google still benefit, as more time is spent on their platforms. He thinks there is plenty of room to grow, but said there could eventually be consumer backlash from influencer marketing.

“A lack of authenticity could breed consumer cynicism above all,” Wurmser added.

Are banner ads effective



Career development loans: are they a good way to fund your master s? #advance #loans


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Career development loans: are they a good way to fund your master’s?

F unding is the biggest headache faced by students wanting to continue their studies after their undergrad degree. Taught master’s degrees no longer qualify for research council funding, and while some students manage to put together a funding package through scholarships and sponsorships, others are drawn to taking out a bank loan. But is this a good move?

Career development loans (CDLs) have become an increasingly common funding option for those undertaking postgraduate study. There are only two banks currently offering them – the Co-operative bank and Barclays .

Since the government-supported scheme began in 1988, over 304,000 people have taken out a CDL. In this 25-year period, banks have lent in excess of 1.34bn. The Co-operative says: We have seen a steady increase. In 2013, almost 5,000 people took out a CDL with the Co-operative bank.

The CDL funds full- or part-time vocational and professional study. Although it is a commercial bank loan, the government pays the interest for the duration of the course and recipients do not have to repay the loan until they complete their studies.

In recent years, the number of students undertaking postgraduate study has fallen due to following a rise in course fees. A postgraduate taught course now costs an average of just under 6,000 a year, an increase of 7% since 2012-2013.

The number of part-time students has fallen even further. Between 2010-11 and 2012-13, UK and EU students entering part-time postgraduate courses dropped 27% – the equivalent of 25,000 students.

Despite the fall in numbers of those undertaking postgrad study, there’s been a rise in CDL applications, because of the funding cuts.

The Department for Business, Innovation and Skills (BIS) explains the point of the loans: Professional career development loans are short-term finance offers which enable adults to undertake vocational and professional study, with the aim of moving on in work or into work quickly. Recipients are able to concentrate on the learning or training without needing to meet repayments. Repayment only begins one month after they leave their course.

Nevertheless, CDLs have come under some scrutiny and the University and College Union (UCU) argues that high interest rates, non-income contingent payback terms and the need for a good credit record mean that they are not suitable for everyone.

UCU points to a worrying effect on access to postgrad study: Students from less advantaged socio-economic backgrounds tend to be more risk-averse, and the benefits of further learning and the increased salaries that postgraduate qualifications can bring are being skewed towards more advantaged learners only.

You can take out a loan for any amount between 300 and 10,000, and both banks offer an interest rate of 9.9%. CDLs are available to those aged between 18 and 69 with an unlimited right to stay in the UK. However, you need to have been resident in Britain for at least three years, so if you have been abroad for over six months then the banks are likely to reject your application.

The banks will also reject your application if your credit rating doesn’t match their eligibility criteria. While neither the Co-operative nor Barclays were able to disclose the number of applications they rejected, I spoke to a number of students who had their applications declined.

Emma Finamore, currently doing a journalism master’s at Goldsmiths, University of London, says: My application was rejected even though I hadn’t been in any trouble with the bank or phone companies. This nearly stopped me from pursuing my dream of studying journalism.

If I hadn’t started a crowd-sourcing campaign and known someone who was prepared to lend me 5,000, I wouldn’t have been able to do this master’s.

The government covers the interest for one month after the course finishes, but after that the loan operates as a normal bank loan. The student is then fully liable for repayment. Recipients are given between one and five years to repay their loan; but obviously the longer they take, the more interest they accrue. The Co-op bank says the average term on a CDL is five years.

Unlike ordinary loans, CDLs come without arrangement fees or early settlement charges – if you want to end your repayment plan prematurely you can settle without additional charges.

If a graduate is still unemployed after they complete their course, there are protections in place and repayments can be deferred for up to 17 months, but this must be applied for in three separate stages.

However, once the recipient has entered into a repayment scheme it can become very difficult to halt or postpone payments. Banks are keen to retrieve their money even if employment circumstances change. With increasingly precarious labour conditions and the growth of zero-hour contracts, jobs will not necessarily remain secure for the entire repayment scheme.

Veering off-plan can cause long-lasting damage to your credit history and affect your future ability to gain credit. As with all bank loans, there is some degree of financial risk involved.

If recipients fail to meet payments, both the Co-operative and Barclays transfer the loan to a debt collector agency. The Co-op says they cannot disclose how frequently they transfer loans to a third-party debt agency because this is commercially sensitive data.

The Co-op says: If a customer encounters financial difficulties and is unable to pay back their loan, we would encourage them to contact us as soon as possible. We always strive to support customers facing financial difficulties and would only turn to a collection firm as a last resort.

BIS says: CDLs are commercial bank loans and as such the banks seek recoveries in the event someone misses regular repayments and so defaults.

The CDL may be far from a perfect solution to postgraduate funding, but it is one of the few funding options available.

If applicants think the course will further their vocational skills and career prospects, then the CDL may be a good option, but it is less so for those wishing to pursue a future in academia or any other career where a regular salary is not a safe bet.

Advice and an application pack are available if you call the information line on 0800 585 505, open Monday to Sunday, 8am to 10pm, or visit direct.gov.uk/pcdl for details.



Are You Risking Your (Small) Business By Taking An Online Loan? #student #loans #without #cosigner


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Are You Risking Your (Small) Business By Taking An Online Loan?

6 days ago | Updated 6 days ago

Shunit Harpaz Avid Politics Follower and Social Media Influencer

In our last blog post I stressed how small businesses are constantly looking for cash infusion. A positive cash flow for a small business provides breathing air much needed to grow, to renovate, to buy new equipment or just to free some needed capital. This task has proven challenging when turning to traditional banks and requesting a loan. Most businesses are turned down, desperately seeking other alternatives. On my way to meet Jack Elaad for this interview, I heard a radio commercial for a new company offering loans to small businesses. I asked Elaad, a seasoned banking executive – former Chairman of FIBI (Israel’s Top 5 bank) and Co-Founder of Credithood. a Fintech startup – for more information about this new trend of SMB online lending. I was intrigued since it sounded attractive – can SMB owners get approved this quickly? “This is where it begins and where it stops,” says Elaad, “the online lenders managed to cut down the processing time, but not much more. If you looked carefully you’d see that the loan terms are not great at all.”

So I did look into it, and found out that many online lenders only offer short-term loan repayment plans with interest rates that are quite high. Moreover, as Elaad points out, many online lenders are working in cooperation with traditional banks, like a modern “storefront.” They make it sound “cool” and “always on” but they must abide by the same rules and regulations derived from “old school” banking.

Traditional banks have a lot to lose, as lending is one of their key revenue streams and wealth generators. They need to stay prominent even in face of online trends — hence their close cooperation with the new players. Few examples. US online lender Kabbage just raised a mammoth $135 million from investors including Dutch bank ING and Canadian bank Scotiabank. In April, Prosper announced $165 million in from investors that included SunTrust Banks, JPMorgan Chase, BBVA and Credit Suisse. Moreover, USAA, BBVA, and SunTrust are working with Prosper to offer co-branded loans. Its main competitor, Lending Club, currently has co-branded relationships with Union Bank and community banks that are part of BancAlliance.

So are we looking at a wolf in sheep’s clothing?

The biggest caveat is in the loan terms. Even with greater accessibility and speed, the loan terms can still make or break a small business. With some data showing that over 80% are likely to fail in the first 18 months, SMBs need to build a healthy business. Taking a loan with the wrong terms could jeopardize their business, and their ability to repay short-term loans is limited.

According to Elaad, “the key to small business lending is to distill the business information and get to the core of their story. Not just their Facebook profile, but their likelihood to succeed. We founded Credithood to be at the frontier of small business financing. The questions that we look to answer are – is this small-business owner recognized as a valuable member of the community? Does this business have a loyal customer-base?” Answering these questions opens a lot of potential prospects. And what we do with the answers to these questions — in our next blog post.



Are personal loans bad for your credit score? #bad #credit #loans #australia


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Are personal loans bad for your credit score?

Taking out a personal loan is not bad for your credit score in and of itself. However, there are several factors that come with taking out a new loan that could affect your overall credit score.

What Factors Into Your Credit Score

To understand how taking out a personal loan affects your credit score, you must first understand how the score is calculated. Roughly 35% of your overall credit score is based on your payment history. Thirty percent of your score is based on the total amount of debt you owe. Ten percent of the score is based on the number of credit lines that you have opened recently.

The last two factors are initially impacted by a new personal loan. Your total debt increases overall, and a new credit line is opened. The credit agencies take note of this activity and could possibly lower your credit score based on the new loan. However, your overall credit history has more impact on your credit score than a single new loan. If you have a longer history of managing debt and making timely payments, the effect on your credit score from a new loan is likely to be lessened.

Keeping a New Personal Loan From Damaging Your Credit Score

The easiest and best way to keep a personal loan from negatively affecting your credit score is to continue making payments on time and to pay off the debt within the terms of the loan agreement. A personal loan that you pay off in a timely fashion can actually have a positive effect on your credit score; it demonstrates that you can handle debt responsibly.



Are Interest Free Car Loans Too Good to be True? #personal #loan #companies


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Should I Take Advantage of an Interest Free Car Loan?

By Miriam Caldwell. Money in Your 20s Expert

Miriam Caldwell is a freelance writer with a specialty in personal finance. She believes that you can lay a solid foundation by starting to manage your finances in your twenties.

Question: Should I Take Advantage of an Interest Free Car Loan?

However it is important to realize that a car is a depreciating asset. Many people consider cars an investment because of the large purchase price, but a true investment should bring you a rate of return for the money you spend, and a car will not. Generally speaking a car will lose anywhere from $1600.00 to $2500.00 dollars in the first year of ownership. Most cars will depreciate from between $6500.00 to $10,000.00 over the first five years of the life of the car.

If you realize that the car is going to depreciate in value over time, the next question is to look at how much interest you will be charge over the life of your loan to see if you will come out ahead by buying a used car at a lower purchase price.

With the purchase price of $12,000.00 and an interest rate of six percent you will end up paying interest of about $1160.00 over the life of a three year loan.

It is also important to realize that the value of a car depreciates much more rapidly the first three years of the life of the car and begins to slow down by the time it is five years old. So although the car will continue to depreciate in value it will do so at a much lower rate.

Looking at the average numbers buying a three year old or a five year old car will save you money in the comparison of interest paid out ($1160.00) to the average cost of depreciation of the first year ($1600.00-$2500.00), which doesn’t take into account the further cost of depreciation over the next two or three years.

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Although buying a new car with an interest free loan may seem like a good idea on the surface, you will still lose more money than if you were to buy a used car with a loan that has interest. The loss will be even more if you roll your old car loan into a new one . If you can purchase your car with cash you will end up losing even more money in comparison with buying a new car. Additionally many used cars come with warranties and are still very reliable.



Which Nursing Schools are in the Columbus, OH Area? #which #nursing #schools #are #in #the #columbus, #oh #area?


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Which Nursing Schools Are in the Columbus, OH Area?

Find out which Columbus, OH, area schools offer nursing programs. See the requirements, and learn about the variety of school programs at the bachelor’s and master’s degree levels in this area. Schools offering Nursing degrees can also be found in these popular choices.

Are you interested in exploring undergraduate and graduate nursing programs in the Columbus, OH region? Here you will find critical knowledge of the colleges, including the nursing program name, length, tuition, enrollment data, prerequisites, and more.

What You Need to Know

If you have no prior college experience, a 4-year bachelor’s degree program can prepare you for the registered nurse licensure exam. On the other hand, if you already work as a registered nurse, you could earn your bachelor’s degree in a 1-year accelerated program. Both of these programs include general education requirements.

Master’s degree programs are available and take a year and a half to three years to complete, depending on which area you choose. Options include several nurse practitioner specialties, as well as nursing administration and nurse education tracks. Explore schools offering undergraduate and graduate nursing programs near Columbus, OH, below.

Bachelor’s Degrees in Nursing in the Columbus, OH Area

Capital University

Capital University offers you one of the few BSN programs that admits students in the first year of the 4-year degree program. You begin your clinical practice in your sophomore year by completing supervised lab work to prepare you for work with patients. Your first clinical lasts eight weeks and takes place in the summer after your sophomore year. Clinical rotations become more advanced as you progress and during your senior year, you’ll work one-on-one with nurses to gain more practical experience.

  • Program Name: Bachelor of Science in Nursing (BSN)
  • Program Length: 4 years, full-time
  • Tuition and Fees: $32,830 per year (2015-2016)
  • School Type: 4-year, private, non-profit; about 2,740 undergraduates

Mount Carmel College of Nursing

The Mount Carmel College of Nursing offers a 4-year program in nursing that combines classroom study and clinical experience in nursing to prepare you to take the National Council Licensure Examination for Registered Nurses (NCLEX-RN). Courses in this program include anatomy, physiology and biochemistry. For students who wish to transfer into this program and have the prerequisite coursework completed, an advanced placement summer session is available.

  • Program Name: Bachelor of Science in Nursing
  • Program Length: 4 years, full-time
  • Tuition and Fees: $12,180 per year (2015-2016)
  • School Type: 4-year, private, non-profit; about 930 undergraduates

Ohio State University-Main Campus

Ohio State University offers a bachelor’s degree that will make you eligible for the NCLEX-RN upon completion. During your freshman year, you complete prerequisite coursework, and then you may apply to the nursing program. Your sophomore year includes introductory courses in areas such as professional nursing, therapeutic communication and pharmacology. The final two years include significant clinical rotations that provide you with practical experience. If you are already an RN, there is a one-year accelerated program available.

  • Program Name: Bachelor of Science in Nursing
  • Program Length: 4 years, full-time
  • Tuition and Fees: $10,037 in-state, $27,365 out-of-state per year (2015-2016)
  • School Type: 4-year, public; about 45,000 undergraduates

Otterbein University

Located near Columbus in Westerville, Otterbein University offers a BSN that will also qualify you for the NCLEX-RN. This program includes courses in anatomy, physiology, chemistry, microbiology and pharmacology. Clinical rotations begin in your sophomore year and continue through senior-year immersions. If you already have a Bachelor of Science in a non-nursing major, a transfer plan is available.

  • Program Name: Bachelor of Science in Nursing
  • Program Length: 4 years, full-time
  • Tuition and Fees: $31,624 per year (2015-2016)
  • School Type: 4-year, private, non-profit; about 2,300 undergraduates

Master’s Degrees in Nursing in the Columbus, OH Area

Capital University

An MSN from Capital University allows you to focus your nursing studies in specialization areas. You can select an area of concentration from the following: nursing education, legal studies, administration or theology. The nursing education concentration prepares you to work as a nurse educator at the college-level or in a healthcare setting. The other three concentrations work with other colleges in the university or at Trinity Lutheran Seminary,providing a well-rounded curriculum that includes core nursing coursework in nursing science, research and informatics.

  • Program Name: Master of Science in Nursing (MSN)
  • Specialization Areas: Nursing education, administration, legal studies, theology
  • Program Length: 2-3 years
  • Tuition and Fees: $10,710 per year, no additional fees (2015-2016)
  • Prerequisites: BSN degree
  • Requirements: Ohio RN license, transcripts, resume, three professional references
  • School Type: 4-year, private, non-profit; 750 graduate students

Mount Carmel College of Nursing

Mount Carmel College of Nursing offers an MSN with concentration areas in nursing administration, adult health, nursing education and family nurse practitioner. You may select a concentration area that provides you with the education to take on an administrative role in healthcare or work as an advanced practice nurse. Regardless of the concentration you select, you will take core coursework in nursing research and evidence-based practice, theoretical foundations in nursing and leadership in advanced nursing roles.

  • Program Name: Master of Science in Nursing
  • Specialization Areas: Adult-gerontology acute care nurse practitioner, adult health, family nurse practitioner, nursing administration, nursing education
  • Program Length: 1.5 to 2.5 years, full-time
  • Tuition and Fees: $9,480 plus $98 in fees per year (2015-2016)
  • Prerequisites: BSN degree
  • Requirements: Ohio RN license or eligibility for licensure, resume, statement of purpose, transcripts, one year clinical experience, interview (for family nurse practitioner concentration)
  • School Type: 4-year, private, non-profit; about 150 graduate students

After reading this article, you now have an understanding of the financial and educational requirements that must be met in order to obtain a bachelor’s or master’s degree at Capital University, Mount Carmel College of Nursing, Ohio State University-Main Campus, and Otterbein University, all schools in the Columbus, OH, area.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.

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What Are the Education Requirements for a Counseling Psychologist? #psychologists #education #requirements, #what #are #the #education #requirements #for #a #counseling #psychologist?


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What Are the Education Requirements for a Counseling Psychologist?

Counseling psychologists help individuals, couples, and groups cope with a variety of mental, social, and vocational problems and improve their overall quality of life. Read on to learn about the education needed to become a counseling psychologist. Schools offering Addictions & Social Work degrees can also be found in these popular choices.

Undergraduate Degree

To become a counseling psychologist, you must obtain a graduate degree and licensure. This process begins with the completion of an undergraduate degree program. Most graduate counseling psychology programs accept applicants with bachelor’s degrees in any subject; however, schools may prefer those who’ve majored in psychology. Graduate degree programs typically require you to have completed a minimum amount of psychology coursework, such as in general psychology and research methodology, before granting admittance.

Important Facts About Counseling Psychology

Individual, group or family counseling

Several schools offer counseling programs online

School psychologist, mental health counselor, marriage and family therapist

Abnormal psychology and psychopathology, testing and appraisal courses

Graduate-level Education

Master’s degree programs in counseling psychology provide a passageway to a doctoral program or allow you to work as a clinical counselor or doctorate-level psychologist’s assistant. You might also work as a psychologist in the industrial-organizational industry. Other schools offer separate tracks for those intending to immediately enter the workforce and those looking to apply to doctorate programs. In a master’s degree counseling psychology program, you can expect to take courses in counseling theory and methodology, developmental psychology, and group counseling, as well as completing a clinical practicum.

Doctoral Program

Most states require you to receive a doctoral degree to become a counseling psychologist. At the doctoral level, you may pursue a Ph.D. or Doctor of Psychology (Psy.D.) in Counseling Psychology. The main difference between the two is that a Ph.D. is typically more research-oriented, while the Psy.D. is geared toward aspiring practicing psychologists. Many doctoral degree programs in counseling psychology require you to have first completed a master’s degree, but some schools allow students with only bachelor’s degrees to apply. Your curriculum will generally consist of extensive research, clinical practicums, a dissertation project, and a one-year internship.

Licensing and Continuing Education

You must become licensed to work as a counseling psychologist. The licensing requirements can vary dramatically from state to state, so you are advised to check with the state in which you wish to work for specific details. Some states also require you to earn continuing education credits in order to maintain licensure, which may include courses, workshops, and conferences. on topics ranging from abnormal psychology and psychopathology to testing and appraisal.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:



Dozens Of Democrats Are About To Vote For Racial Discrimination At Car Dealerships #auto #loans #rates


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“They would prefer the CFPB ignore this particular injustice.”

Massimo Pizzotti/Getty Images

WASHINGTON — Dozens of House Democrats are expected to vote this week in favor of legislation that would open the door to racial discrimination in auto lending. The bill would make it easier for car dealerships to overcharge people of color.

The NAACP, the National Urban League, the National Council of La Raza and the U.S. Public Interest Research Group have all issued statements opposing the legislation.

The bill would eliminate regulatory instructions, issued by the Consumer Financial Protection Bureau in 2013, that were designed to combat a longstanding pattern of people of color paying more for car loans than white customers with similar credit histories.

“Consumers should not have to pay more for a car loan simply based on their race,” Richard Cordray, director of the CFPB, said when the guidance was first issued.

Banks allow car dealerships to issue car loans to their customers. A dealer sends a buyer’s credit information to the bank, and then the bank tells the dealer the appropriate interest rate for a borrower with that particular financial profile. But dealers are given the authority to charge higher rates at their own discretion — and the dealers themselves receive a cut of that higher lending price.

This arrangement creates incentives for both the dealership and the bank to inflate interest rates. Lawsuits dating back to the 1990s have shown not only that customers of color are more likely to be charged additional interest rates, known as “markups,” but that their markup rates tend to be higher than those charged to white borrowers.

“Car dealers and lenders are attacking the guidance because they do not want the CFPB to enforce antidiscrimination laws in car lending,” the nonprofit group Americans for Financial Reform wrote in a September letter to lawmakers. “They have known for decades that car dealer markups lead to discriminatory lending, and they would prefer the CFPB ignore this particular injustice.”

Racial discrimination in consumer lending, though illegal, has long been widespread. Both auto dealers and banks resisted the CFPB’s effort to crack down on racist lending practices, as higher interest rates mean greater profits for both types of business. Banks and car dealers are particularly powerful interest groups on Capitol Hill, as both have a strong presence in nearly every congressional district.

The CFPB’s guidance encourages banks to get rid of the markup interest rate system as a way of compensating dealerships for issuing car loans. The CFPB said that banks could continue the markup practice if they took steps to ensure that they would not regularly overcharge borrowers based on race or national origin.

The legislation could receive a vote on the House floor as early as Tuesday.

The Obama administration released a statement late Monday condemning the bill, saying it would “create confusion about the existing protections in place to prevent discriminatory auto loan pricing, and effectively block CFPB from issuing related guidance in the near-term.”

But Republicans have had remarkable success in recent years attaching bank deregulation items to must-pass spending bills. In 2014, Republicans secured a measure to reinstate federal subsidies for derivatives trades — the risky contracts at the heart of the 2008 financial meltdown. They did so by slipping the measure into a must-pass government funding bill. GOP leaders defended the move on the grounds that many Democrats had supported the provision on the House floor. Critical spending bills will come up for a vote before the year’s end.

The bill to tear down the CFPB’s regulatory efforts was written by a Republican, but 65 of its 166 co-sponsors are Democrats, and 13 of those Democrats are members of either the Congressional Black Caucus or the Congressional Hispanic Caucus.

The legislation’s co-sponsors include Reps. Ed Perlmutter (D-Colo.), David Scott (D-Ga.), Brad Sherman (D-Calif.), Daniel T. Kildee (D-Mich.), Joyce Beatty (D-Ohio), Sanford Bishop Jr. (D-Ga.), Jim Cooper (D-Tenn.), Lois Frankel (D-Fla.), Ann Kuster (D-N.H.), Kyrsten Sinema (D-Ariz.), Kurt Schrader (D-Ore.), Tim Ryan (D-Ohio), Daniel Lipinski (D-Ill.), Tammy Duckworth (D-Ill.), Madeleine Bordallo (D-Guam), Patrick Murphy (D-Fla.), Brad Ashford (D-Neb.), Henry Cuellar (D-Texas), Frederica Wilson (D-Fla.), Gene Green (D-Fla.), Cheri Bustos (D-Ill.), Peter Welch (D-Vt.), Alcee Hastings (D-Fla.), Sheila Jackson Lee (D-Texas), Suzan DelBene (D-Wash.), Ruben Hinojosa (D-Texas), Steve Israel (D-N.Y.), Eric Swalwell (D-Calif.), Ron Kind (D-Wis.), David Loebsack (D-Iowa), Loretta Sanchez (D-Calif.), Dina Titus (D-Nev.), Marc Veasay (D-Texas), Julia Brownley (D-Calif.), Juan Vargas (D-Calif.), Timothy Walz (D-Minn.), Filemon Vela (D-Texas), Michael Doyle (D-Pa.), Gerald Connolly (D-Va.), Bill Pascrell (D-N.J.), Gwen Graham (D-Fla.), Derek Kilmer (D-Wash.), Kathleen Rice (D-N.Y.), Robert Brady (D-Pa.), Joe Courtney (D-Conn.), Elizabeth Esty (D-Conn.), Tulsi Gabbard (D-Hawaii), Mark Takai (D- Hawaii), Jim Costa (D-Calif.), Collin Peterson (D-Minn.), Norma Torres (D-Calif.), Debbie Wasserman Schultz (D-Fla.), Mike Quigley (D-Ill.), Ted Lieu (D-Calif.), Beto O’Rourke (D-Texas), Ann Kirkpatrick (D-Ariz.), Jared Huffman (D-Calif.), Pete Aguilar (D-Calif.), Alan Grayson (D-Fla.), Kathy Castor (D-Fla.), Ablio Sires (D-N.J.), Corrine Brown (D-Fla.), Donald Norcross (D-N.J.), Sean Patrick Maloney (D-N.Y.) and Sam Farr (D-Calif.).

Zach Carter is The Huffington Post’s senior political economy reporter and a co-host of the HuffPost Politics podcast “So That Happened.” Listen to the latest episode:



Racial disparities in the criminal justice system: Eight charts illustrating how it – s stacked against blacks #racial #disparities #in #sentencing, #racial #disparities #in #arrest, #racial #discrimination #in #the #criminal #justice #system, #racial #discrimination #in #sentencing, #is #there #racial #discrimination #in #arrests, #are #police #racist, #criminal #justice #system #racist, #being #black #in #the #justice #system


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Eight Charts That Show How the Justice System Is Stacked Against Black Americans

Eight Charts That Show How the Justice System Is Stacked Against Black Americans

What It’s Like to Be Black in the Criminal Justice System

In the year since Michael Brown was killed, Americans have focused their attention on the harsh treatment of black Americans at the hands of police. A shocking number have been killed in encounters with police, in the year since Ferguson and in the years before. Thousands more have suffered subtler forms of discrimination in the criminal justice system, where social science research shows striking racial disparities at nearly every level from arrest rates, to bail amounts, to sentence lengths, to probation hearing outcomes. We combed a vast body of research to find the clearest indicators of racial disparities at different phases of the justice process. The eight charts below offer a grim portrait of what it s like to be a black American in our nation s justice system.

1. Black Americans are more likely to have their cars searched.

Police are three times as likely to search the cars of stopped black drivers than stopped white drivers, as the chart below, based on data from the Bureau of Justice Statistics, illustrates. Nationally, black drivers are also more likely to be pulled over and less likely to receive a reason for being stopped. In one Rhode Island study. black drivers were stopped more even though they were less likely to receive a citation.

Source: The Washington Post . All charts by Derreck Johnson.

2. Black Americans are more likely to be arrested for drug use.

Police arrest black Americans for drug crimes at twice the rate of whites, according to federal data. despite the fact that whites use drugs at comparable rates and sell drugs at comparable or even higher rates.



What Are Modern Day Loan Sharks? #debt #calculator


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What Are Modern Day Loan Sharks?

Home > Debt Help > What Are Modern Day Loan Sharks?

After watching a few episodes of Discovery’s Shark Week. I was surprised that the most infamous shark wasn’t highlighted – the loan shark.  I guess the marine biologists don’t give much thought to loan sharks, but I can’t help but to tie things to a financial reference when possible.

With the advent of the credit card and lines of credit at local banks, loan sharks have lost popularity in the last 50 years, but they’re not extinct! We’ll look at how loan sharks have evolved, but first let’s take a look at the history of loan sharks and the practice of usury.

What is Usury?

Usury is a word used to describe the practice of charging excessively high (and often illegal) interest on loans. The practice of usury dates back to Biblical times and in the Old Testament, we find instructions for the Israelites on how they should handle money.

If you lend money to one of my people among you who is needy, do not treat it like a business deal; charge no interest. – Exodus 22:25 NIV

You must not lend them money at interest or sell them food at a profit. – Leviticus 25:37 NIV

He does not lend to them at interest or take a profit from them. He withholds his hand from doing wrong and judges fairly between two parties. – Ezekiel 18:8 NIV

The Israelites were instructed never to borrow from anyone, but they could lend to foreigners. Interestingly, they were instructed never to lend to each other, which is a great topic to discuss in itself!

Modern Day Loan Sharks

Fast-forward to the 1800s and you’ll find that small loans were undesirable because of the stigma behind it. People were looked down upon if they had to borrow a small amount. Also, banks and other financial institutions stayed away from this form of lending, so those in need of a loan sought out private lenders who often provided loans at very high rates.

Since it was actually illegal to charge exorbitant rates for loans, the loan shark didn’t have any legal way to go after the borrower if they didn’t repay, so they would use other means to scare them into paying. To enforce contracts, these loan sharks used blackmailing and harassment, and violence was added with gangs of loan sharks in the 1900s.

As for today, states regulate the maximum rate at which a loan can be made, putting the loan shark of old on the endangered species list. However, as a way to bypass the rules to charging interest, payday loans. sub-prime lending. and non-standard consumer credit have found ways to provide the money advancement service for individuals in need of loans. Generally, the borrowers will have lower credit and limited resources to get a loan elsewhere, so they will use a borrowing service to advance a paycheck.

Lending always seems to be evolving, but it’s interesting that there’ll always be a loan shark in some form – you just need to pay attention!

How are you doing at staying away from the loan sharks? Leave a comment!



Insurance Adjusters: Who They Are and How They Handle an Injury Claim #are #public #adjusters #worth #it


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Insurance Adjusters: Who They Are and How They Handle an Injury Claim

Insurance claims adjusters come with different titles, such as claims specialist, claims representative, or independent claims analyst, but they all do the same job. Understanding who claims adjusters are and how they work to resolve an injury-related insurance claim lets you see that they have no real advantage over you in the negotiation process. Indeed, by having a good understanding of the facts of your own claim, you may well have an advantage over them.

The Role of the Insurance Adjuster

When you have filed a claim against someone you believe was responsible for your accident, normally the negotiation process will be with a claims adjuster for that person s liability insurance company.

Occasionally, a claim is not handled by an insurance company s own adjuster, but instead is referred to a firm of independent insurance adjusters. Insurance companies often do this if they do not have a local claims office in a particular area.

Independent claims adjusters representing an insurance company operate the same as in-house claims adjusters. The only difference is that they may have a lower authority limit within which to settle a case and therefore must have your settlement amount approved by a claims supervisor at an insurance company office. The negotiation process, however, is exactly the same.

Public entities such as state governments or large cities that receive lots of claims often have their own claims adjustment offices. The negotiation process with these government claims adjusters works the same as with private insurance adjusters. The only notable difference in negotiating with a government claims adjuster is that if a claim eventually winds up in court, judges and juries tend not to be overly generous in awarding damages with public money. For this reason, government entity adjusters tend to be tighter with settlement money than private insurance adjusters. If you have a claim against a public entity, expect your settlement to be 10% to 25% lower than if it were against a private party.

It sometimes happens that even though you have not filed a lawsuit, you find an attorney — instead of a claims adjuster — negotiating with you about your claim. Self-insured corporations and some insurance companies without a local claims office sometimes use either their own staff attorney or a local attorney as a claims adjuster. And government entities sometimes have assistant city, county, or state attorneys who deal directly with accident claims even before they get to court.

If an attorney is handling your claim instead of a claims adjuster, don t panic. In the claims negotiation process, a lawyer cannot do anything different from a non-attorney claims adjuster. A lawyer may bluff a little more than a claims adjuster about the law regarding negligence and liability, but there are easy techniques to call that kind of bluff.

If you file a claim under your own automobile collision, uninsured, or underinsured motorist coverage, you do not negotiate a settlement with your own insurance agent. All an agent can do is refer your claim to the claims department — and then it is completely out of the agent s hands. You will then negotiate an injury settlement with a claims adjuster who will be acting as the company s representative, not yours.

How Adjusters Settle Claims

The job performance of insurance adjusters is judged not only by how little of the insurance company s money they spend in settlements but also by how quickly they settle claims. Most adjusters get between 50 and 100 new claims a month across their desks. They have to settle that many claims — known as clearing or closing a claim file — each month just to stay even. Their performance is also rated on how many claims they can personally settle without having to involve supervisors or insurance company lawyers. Once an adjuster knows that you understand the range of how much your claim is worth, the adjuster will not usually stall your claim.

During negotiations, you will find that you know much more about your claim than the adjuster does. Except for those assigned to the largest cases, insurance claims adjusters have no special legal or medical training. And most have neither the time nor the resources to investigate or study your claim very carefully.

The result is that while an adjuster will know more than you about the claims business in general, he or she will not know your particular claim nearly as well as you do. You were there during the accident. You know what your injuries are, how much and where they hurt, and how long they have taken to heal. You have put in the time to understand how the accident happened and to demonstrate through photos and medical records and other documents what your damages were. The insurance adjuster, on the other hand, has only a couple of minutes a week to look at your file. As long as you are organized and understand the process, you are the one with the negotiating advantage.

The adjuster has the authority to come to an agreement with you on the telephone for what the final settlement amount should be. Once you and the adjuster agree on an amount, the adjuster simply sends you the paperwork to finalize the settlement. But adjusters authority to settle claims on their own is restricted to certain dollar limits. The limits depend on how much experience the adjuster has. For less experienced adjusters, the limit is between $5,000 and $10,000. For more experienced adjusters, the limit is between $10,000 and $20,000.

An adjuster will not disclose the limits of the adjuster s authority is unless you re going to get an offer higher than that authority. If so, the adjuster will have to ask for approval from a superior usually called a claims supervisor or claims manager. This is neither unusual nor difficult. But if the adjuster does need to check with a supervisor about your settlement offer, get a date by which you will hear back from either one, and then send a letter to the adjuster confirming that date.

For more details on negotiating an insurance claim, including sample letters to insurance companies, suggestions for handling negotiations, and strategies for dealing with an insurance company that refuses to make a good offer, see How to Win Your Personal Injury Claim . by Joseph L. Matthews (Nolo).

Get the compensation you deserve.



Online loan sharks find tribal lands are an easy way to skirt the law #unsecured #personal #loans #bad #credit


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PORTLAND, Ore. – Online loan sharks are exploiting a gaping loophole to get their hands on your money – and local lawmakers are fighting back hard.

What are these loan sharks doing that’s so wrong?

They’re setting up shop on Native American reservations so they can avoid state and federal laws that protect consumers. It’s one of the worst cases of online crime the KATU On Your Side Investigators have ever come across.

Oregon Democratic Senator Jeff Merkley told KATU he has been fighting for years to stop it.

What they’re doing is morally wrong, Merkley said. It breaks state law. It destroys families and we have to stop it.

We ve been talking to a Salem woman hard working but behind on her bills like a lot of us who is in over her head with a payday loan company way, way over her head.

Elena Peralta, 20, took out $150 to pay her car insurance but in a matter of weeks, she was on the hook for $4,500 and teetering on the brink of bankruptcy. The business she got the loan from is called US Fast Cash, which operates on the Ottawa tribe’s reservation in Oklahoma.

The loan company, Peralta found out, had the right to raid her bank account at will. And when that money ran out, she started getting phone calls from collection agents every day and night, and even at work, threatening her with legal action and harassing her.

And the payments Peralta did manage to make never touched the principal just the outrageous triple-digit interest rates the loan company was charging her.

It affected my family, she said. Not just myself, my whole family.

Everything about this loan sounds illegal under Oregon law. Regulators agree – so much so that the state has already red-flagged these online lenders in this consumer alert .

But here’s what we found out when we started looking into this – nothing can be done to stop them, or bring the worst of these cyber loan sharks to justice. Not yet at least.

This woman s case and thousands like it is now at the center of a legal battle at the highest levels of the U.S. Government a story that s taken us from Portland, to the halls of Congress, to a dusty town in Oklahoma – and deep into the pages of one of the murkiest chapters in America s history. Millions of dollars hangs in the balance as the rights of you, the consumer, are pitted against the rights of all Native Americans.

Their treaties with the United States are century-old binding contracts upheld by numerous court decisions. But the issue of tribal sovereignty is taking center stage in the fight to stop online loan sharks.

Merkley saw the writing on the wall in 2007, when as Oregon Speaker of the House, he authored and ushered through a new law putting strict limits on the amount of interest and fees lenders could charge. We knew that people would try to bi-pass the state laws over the Internet, so we passed a law saying that any loan done over the Internet is un-collectable, he said.

But Oregon lawmakers did not foresee the loan operations moving to tribal lands.

It may now take an act of Congress to stop the online loan sharks and Peralta may become the poster child for that effort.

Merkley is now trying to push a bill that he authored through the U.S. Senate. It would stop the lending from tribal lands in its tracks.

It simply says that you can’t operate out of a tribal reservation or overseas, or anywhere else, and violate the state laws, Merkley said.

If the bill becomes law, the Consumer Fraud Protection Bureau will also have the power to stop the loan sharks at the source, making it impossible for them to dip their electronic fingers into the bank accounts of anyone.

Merkley expects a fight. He says lenders and their lobbyists will line up to stop the bill s passage.

With her eyes filled with tears Elena told Thom, That’s something that I don’t want other people to go through. It’s bad.

With that, she said she hopes she does become the poster child for Merkley s bill, because it will most likely take that type of action to finally close this tribal loophole in lending laws.

What can you do if you’re in a sticky situation with one of these lenders?

Stop the drain on your finances by closing the account tied to the loan and opening a new one. That gives you time to contest the loan conditions.

The Oregon Division of Finance tells us that because these extra costs are technically illegal, you may not have to pay them at all. Use the links below to file a complaint.

What’s the best way to get a short-term loan?

If you really do need a short-term loan to make ends meet, state regulators recommend you go to a brick and mortar business – storefronts approved by the state and bound by Oregon and Washington laws, and bound by limits on interest and fees.



What are credit unions and how can they beat payday lenders? #credit #card #debt #consolidation


#loans for people with poor credit
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What are credit unions and how can they beat payday lenders?

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What are credit unions?

A credit union is a co-operative offering current accounts, savings accounts and loans to its members. Traditionally, members have had to share something in common, such as a locality, industry or workplace. This is known as a common bond. In 2012, the law changed so that credit unions can offer membership to people who don’t share that common bond.

How long have they existed?

The first credit unions were formed in Germany in the 19 th century, and the idea later spread to the US and elsewhere. The UK was late to the party: one of the first credit unions in Britain was the Hornsey co-operative, formed in 1964 by West Indian immigrants who couldn’t get access to loans from banks.

What is the advantage of joining a credit union?

Credit unions are run for the benefit of their members, not for shareholders, so there are no management charges on savings or loans.

They are a particularly good option for people who are on low incomes. Credit unions tend to be more more flexible than traditional lenders, says Lindsey Appleyard, a research fellow at Coventry University. “They respond to people’s needs; so if they need to wait an extra couple of days for their loan to be repaid or if they need to make the payments lower for a longer period of time, they have the facility to do so.”

Is the UK credit union movement growing?

Yes. Growth was slow at first, and it took 40 years for credit unions to reach half a million members. In the last 10 years, however, that membership has doubled: new figures from the Bank of England show that there are now 1.1 million adult members of credit unions, which have assets of 1.2bn .

The Association of British Credit Unions Limited (ABCUL) hopes that membership will reach 2 million by 2020. The movement has been helped to grow by 38m of funding from central government in the last two years.

What are the challenges facing credit unions?

Not everyone is aware of credit unions – they don’t have the capacity of payday lenders to advertise their services.

To be sustainable, credit unions have to attract better-off people to save with them. Making lots of small loans is expensive, so credit unions also have to attract more credit-worthy members who want to take out larger, long-term loans. Frank McKillop, policy manager at ABCUL Scotland, says they face competition from other lenders: “People who are good for a loan are constantly being offered by credit.”

Many payday lenders offer their services over the internet, and are often prepared to make instant loans. Credit unions, traditionally offering a face-to-face service, have been left behind, but increasingly, says Appleyard, they are moving online in order to compete.

Are they markedly better than payday lenders?

Yes – hugely so. Credit unions cannot charge more than 3% interest a month, which works out at 42.6% APR. Since January 2015, there has been a cap on payday lenders. imposed by UK watchdog the Financial Conduct Authority, with interest and fees capped at 0.8% a day and the total cost of a loan limited to 100% of the original sum. As experts point out that still means payday lenders are far more expensive. “The cap for payday lenders is eight times more expensive than the most expensive credit union loan,” says McKillop.

Why are councils getting involved with credit unions?

If local people are borrowing from local credit unions rather than payday lenders, the money stays within the community, boosting the local economy. Councils also want to prevent poorer residents from falling heavily into debt to high-interest lenders. Finally, councils benefit if their employees join credit unions – research shows that money worries have an impact on productivity.

How are they getting involved?

Many encourage their employees to join credit unions. Others offer funding to credit unions or work in partnership with them. Leeds city council, for example, has helped increase membership of the Leeds City Credit Union from 11,000 to 31,000 in 10 years. The council provides access to the credit union services through its own one-stop shops and community hubs.

Which councils have the strongest links to credit unions?

Glasgow has very strong historic links. About 25% of the city’s population belongs to a credit union, and that is in part due to support from the city council. None of the city’s 34 credit unions is charged rates, says McKillop, and council officers provide the unions with guidance. Council employees can save in a credit union through their payroll, and also take out and pay back loans through payroll.

Earlier this year, Sheffield city council set up Sheffield Money in response to research showing that that 50,000 people in the city were borrowing a total of 40m a year from high-cost lenders. It acts as a one-stop shop bringing together credit unions and other organisations, such as Five Lamps. a charity providing loans, and white-goods providers willing to sell products with low-interest repayments. It’s a model that has attracted a lot of interest from other councils.

The service offers an initial triage to assess people’s needs – whether, for example, they need a loan or help managing their utility bills. Mazher Iqbal, cabinet member for public health and equality at Sheffield city council, who helped establish Sheffield Money, wants to make the service as accessible as possible: “If we can’t respond to what’s out there on the high street, we’ve lost the battle.”



We Are The #1 Rated Bad Credit Personal Loan Company Online #boat #loan


#loan companies for bad credit
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We Are The #1 Rated Bad Credit Personal Loan Company Online

People with bad credit do not have the same opportunities as those with good credit. This is because most banks prefer to deal only with people of “A” credit. Of course, this is understandable since there is lesser risk involved with this type of people. There are many reasons why some people fall into bad credit. But whatever reason that is, it is sure to leave a negative impact on one’s credit file.

Having a bad credit background will surely tarnish your financial standing, and if you want to do something about it, it’s wise to consider getting loans from a bad credit personal loan company. The money you can get from a bad credit personal loan company will surely help you finance your personal and emergency needs.

A bad credit personal loan company can offer personal loans of different amounts and repayment terms. The range of repayment periods will depend on the amount and purpose of the loan. The minimum and maximum amount these companies can lend you will of course vary between lenders and their offerings. Because of such, it is recommended you do some research beforehand and shop around for the bad credit personal loan company that offers the package that best suits your financial needs and situation.

Generally, personal loans are repaid every month. But if your chosen bad credit loan company allows you to make over-payments and lump-sum payments, then so much the better for you. Through this, you will be able to pay off the debt over a shorter time. This is if the product you availed of offers a certain degree of flexibility.

If the personal loan package you took is truly flexible, then you can withdraw funds from your account on a rolling basis, given that you do not exceed your credit limit. Some lenders also offer payment breaks or repayment holidays, permitting you to stop making monthly payments during certain times, usually during start of the loan or during the term.  Consider these factors when choosing a lender, as packages and products can vary with each bad credit loan company .

But keep in mind that it can sometimes be quite tough to get a personal loan especially if you have bad credit. And, there are also qualifications to be met. The more qualifications you are able to pass, then the higher the amount you can get. If you do not have a regular source of income, no permanent address, or a previous credit history, then it could be more difficult for you to get a high amount personal loan.

So, if you have bad credit, your best choice would be to go to a bad credit personal loan company .  Although the APR will be higher compared to the rates offered by a standard loan provider, your chances of acceptance are far greater. Don’t make the mistake of thinking you have no options left if you have bad credit. There are several banks and companies willing to extend bad credit personal loans to help you in your time of financial distress.

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Structured Settlements – Monarch Advisory Services #what #are #structured #settlements


Monarch offers structured settlements and settlement planning services to plaintiff attorneys throughout the country. Our consultants utilize their vast industry and product knowledge to meet the needs of personal injury victims. In keeping with the values of it s founders, Monarch consultants will show each case the attention and care it deserves while providing attorneys and their clients with the utmost customer service.

Benefits of Utilizing a Structured Settlement

  • TAX BENEFITS: The interest earned from structured settlement annuities is tax-free. Under Section 104(a) of the Internal Revenue Code, the annuity payments are exempt from both federal and state income taxes.
  • SAFETY: Structured settlement annuities are written through the highest rated life insurance companies, providing one of the safest investments in the marketplace. The fixed return is guaranteed for the life of the annuity, protecting it from interest rate fluctuations and undesirable market trends.
  • GUARANTEED INCOME: Structured settlements can provide peace of mind to those looking for long-term financial security for their future needs. Also, claimants can enlist in the added component of having the structured settlement guaranteed for life, helping eliminate the worries of outliving one’s money.
  • PROTECTION FROM CREDITORS: Florida Statute 222.14 completely exempts the cash surrender value of annuity contracts from the legal process. Structured settlements protect clients from any potential creditors or lienholders seeking compensation from their settlement.

Ideal Clients for Structured Settlements

  • MINOR CHILDREN: A structured settlement can be used as a cash flow tool, with incremental tax-free interest payments made during the child’s college tenure, or for other life events, such as purchasing a home or vehicle. It can also sometimes be used in lieu of setting up a guardianship, saving on the fees and costs associated with the filings and labor that a guardianship requires.
  • CATASTROPHICALLY INJURED AND INCOMPETENTS: Structured settlements are invaluable for catastrophically injured or incompetent clients. They can ensure a monthly income for the remainder of the claimant’s life and provide funding for the future care and treatments the individual will need.
  • WRONGFUL DEATH: When the head of a household is no longer around to provide for the rest of the family, a structured settlement can assist by providing the deceased’s family with an income to help meet the everyday demands of monthly bills, mortgages, and other living expenses.
  • DISABLED CLIENTS: For clients who can no longer work and therefore are no longer bringing in income, a structured settlement annuity can act as supplemental income to their monthly disability.

Examples of Structure Options Available

Some of the more popular structured settlement payment schedules include, but are not limited to:

  • Lump Sum Payments for Important Life Events such as college attendance, purchasing a home, getting married
  • Monthly Payments for Life to Act as Monthly Income
  • Deferred Monthly Payments to Supplement Retirement
  • Deferred Annual Payments for Childrens’ College Funds


Nursing Trends and Challenges of Today and Tomorrow: Current Articles: South Florida Hospital News #no, #question, #2012, #are, #witnessing, #evolving, #nursing, #profession, #today, #s, #nurse, #not, #same, #one, #who, #donned, #uniform, #cap, #just, #50, #years, #ago, #today, #s, #nurse, #isn, #t, #same, #one, #from, #mere, #decade, #ago, #it, #makes, #


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Nursing Trends and Challenges of Today and Tomorrow

By Mark Sprada, MBA, BSN, RN

There is no question that in 2012 we are witnessing an evolving nursing profession. Today s nurse is not the same one who donned uniform and cap just 50 years ago. Today s nurse isn t the same as the one from a mere decade ago. So, it makes sense that as the profession develops there are a number of emerging trends and challenges that must be addressed.

The Institute of Medicine recently released its report on the future of nursing, and the challenges they outlined reflect issues being faced by leadership across the country.

First, our profession is struggling to identify an educational requirement for entry to practice. As more health professionals continue to educate themselves through masters, doctorates and fellowships, many nurses do not enter the work force with a bachelor s degree. Existing nurses need to complete their undergraduate degree, while future nurses need advanced education that can be put into practice to improve patient outcomes and the population’s health.

Second, health care is challenged with how to keep up with ever-changing technology. Let s face it, technology has gone Star Trek. Whether the Electronic Record or the operating room, technology is an integral part of patient care and the practice. Leaders must recognize that education is necessary to make technology user-friendly for all nurses. Technology ultimately improves work flow, but first nurses must be engaged during planning, implementation and optimization of systems.

Third, as the world continues to diversify, the nursing profession also must become more diverse. Nurses need to be educated in cultural differences and have access to resources that make care for patients of all cultures routine.

Finally, the nursing average age continues to increase. A large percentage of nurses are baby boomers who are approaching retirement. Managers need to leverage their contributions and keep them in the workplace. At the same time, a potential shortage of nursing staff particularly highly qualified nurses needs to be addressed to prevent compromising patient care.

While each of these trends and challenges can seem daunting, there has never been a more exciting time to enter nursing. Just think of everything that nurses of the future will learn and accomplish.

As a nurse in 2012 and beyond, a person has the opportunity to not only be educated in a chosen field, but also constantly learn as he or she interacts with other disciplines throughout the health care system.

There are no limits to where a career in nursing can take someone. A nurse need only choose the career track he or she would like to follow, and with the right attitude and knowledge, the opportunities are limitless. Whether it is continuing as a clinician or a transition into systems leadership, with the proper education and real-world experience, nurses are positioned to be the leaders as health care transforms.

A successful career in nursing also brings rewards such as being a member one of America s most respected professions. And, in addition to educating patients, preventing complications and being the front line of accountability for cost mitigation, today s nurse will witness the continued evolution of a great field. Yes, it s a great time to be a nurse and it will be even greater and more respected in the future.



Small loans: what are your options? #payment #calculator #loan


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Small loans: what are your options?

Sometimes you only need a small boost to your bank balance, but it can be hard with small personal loans to find the cheapest option.

Here we look at small unsecured loans. credit cards and other options you might not have thought of for borrowing smaller amounts of money.

Small loans with money transfer cards

Find a money transfer card to get a small cash loan

Small unsecured loans

You may be able to get a small unsecured loan, but it will depend on just how small the amount you want to borrow is. Some lenders will give loans for as little as £250 or £500 but you may find this comes with a very high APR.

Other unsecured loan providers may have more competitive rates, but will not lend much less than £1000, so whether or not an unsecured loan is right for you depends on the amount you need to borrow and the loans available for that amount.

You will also need a good credit rating for these small unsecured loans as the risk to the lender is greater than with a secured loan.

Payday loans for short term small loans

A payday loan might seem like the ideal small loan – they let you borrow between £50 and £1,000 for a few days or weeks until you next get paid.

However, payday loan companies typically charge up to £30 for every £100 you borrow for up to 31 days, which might not sound that bad, but actually equates to 2,255% APR. As of 02 January 2015 the Financial Conduct Authority has capped the interest on payday loans at 0.8% per day.

Payday loans should only be used for emergency cash for a very short period if you have no other options – so it’s probably best to look elsewhere for your small loan.

Getting a small loan from a credit card

Using a credit card to get a small loan can be very cost effective if you choose your card wisely. There are plenty of credit cards on the market offering 0% on purchases and if you can pay off whatever you borrow within the interest-free period, your small loan won’t cost you anything.

Remember, the 0% rate only applies on purchases – if you withdraw cash on your credit card for example, you’ll pay a higher rate of interest.

Alternatively, if you can’t pay off your balance in the period, you could transfer your balance to a 0% balance transfer card – you’ll have to pay a balance transfer fee, but your small loan will be interest free for longer.

Another option for getting a small loan from a credit card is a money transfer. Some credit cards offer interest-free money transfers into your current account. You pay a handling fee, but this could still be a very cost effective way of getting a small loan.

Using an overdraft as a small loan

Some current accounts come with overdrafts that can be used to provide you with a good value small loan. Some are even interest free for a few months, or even as long as a year.



How many shares are traded each day #how #many #shares #are #traded #each #day


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Liquidity

BREAKING DOWN ‘Liquidity’

Cash is considered the standard for liquidity because it can most quickly and easily be converted into other assets. If a person wants a $1,000 refrigerator, cash is the asset that can most easily be used to obtain it. If that person has no cash, but a rare book collection that has been appraised at $1,000, they are unlikely to find someone willing to trade them the refrigerator for their collection. Instead, they will have to sell the collection and use the cash to purchase the refrigerator. That may be fine if the person can wait months or years to make the purchase, but it could present a problem if the person only had a few days. They may have to sell the books at a discount, instead of waiting for a buyer who was willing to pay the full value. Rare books are therefore an illiquid asset.

Market Liquidity

In the example given above, the market for refrigerators in exchange for rare books is so illiquid that, for all intents and purposes, it does not exist. The stock market, on the other hand, is characterized by higher market liquidity. If an exchange has a high volume of trade that is not dominated by selling, the price a buyer offers per share (the bid price ) and the price the seller is willing to accept (the ask price ) will be fairly close to each other. Investors, then, will not have to give up unrealized gains for a quick sale. When the spread between the bid and ask prices grows, the market becomes more illiquid. Markets for real estate are pretty much inherently less liquid than stock markets. Even by the standard of real estate markets, however, a buyer’s market is relatively illiquid, since buyers can demand steep discounts from sellers who want to offload their properties quickly.

Accounting Liquidity

For an entity, such as a person or a company, accounting liquidity is a measure of their ability to pay off debts as they come due, that is, to have access to their money when they need it. In the example above, the rare book collector’s assets are relatively illiquid, and would probably not be worth their full value of $1,000 in a pinch. In practical terms, assessing accounting liquidity means comparing liquid assets to current liabilities. or financial obligations that come due within one year. There are a number of ratios that measure accounting liquidity, which differ in how strictly they define “liquid assets.”

The current ratio is the simplest and least strict ratio. Current assets are those that can reasonably be converted to cash in one year.

Current Ratio = Current Assets / Current Liabilities

Acid-Test or Quick Ratio

Acid-Test Ratio = (Cash and Cash Equivalents + Short-Term Investments + Accounts Receivable) / Current Liabilities

A variation of the acid-test ratio simply subtracts inventory from current assets, making it a bit more generous than the version listed above:

Acid-Test Ratio (Var) = (Current Assets – Inventories) / Current Liabilities

The cash ratio is the most exacting of the liquidity ratios, excluding accounts receivable as well as inventories and other current assets. More than the current ratio or acid-test ratio, it assess an entity’s ability to stay solvent in the case of an emergency. Even highly profitable companies can run into trouble if they do not have the liquidity to react to unforeseen events.

Cash Ratio = (Cash and Cash Equivalents + Short-Term Investments) / Current Liabilities



What Are the Top Schools for Clinical Psychology Master – s Degrees? #schools #with #psychology #masters #programs, #what #are #the #top #schools #for #clinical #psychology #master #s #degrees?


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What Are the Top Schools for Clinical Psychology Master’s Degrees?

A master’s degree in clinical psychology can lead to a career in social work, mental health counseling or community relations. It can also prepare you for study at the doctoral level. Keep reading to learn about the top three graduate schools in the United States offering master’s degrees in clinical psychology, based on national and regional school rankings and program offerings. Schools offering Clinical Psychology degrees can also be found in these popular choices.

How to Select a Good Master’s Program in Clinical Psychology

Students hoping to pursue clinical psychology at the master’s or doctorate level should consider a variety of factors when selecting a program. The student’s professional goals will help in the selection process. Whether a student wishes to work with patients in a counseling setting or pursue research will help determine what program they choose, as doctorate programs are typically more research-oriented. Students who hope to become practicing clinical psychologists should look for programs that offer clinical experience and training.

Three Top Clinical Psychology Master’s Programs

Loyola University Maryland

The Department of Psychology at Loyola University in Maryland offers two choices for students pursuing a Master of Science (M.S.) in Clinical Psychology. If your plans include earning a Ph.D. in this field, you can select the thesis track, which focuses on client-based theories and research methods. Or if you plan to seek a position as a hospital clinician or psychological associate working under direct supervision, you can pursue the practitioner track of the M.S. program. The practitioner track can also prepare you for a Doctor of Psychology program.

The university also offers Master’s Plus and Certificate of Advanced Study programs for students who already have master’s degrees, in addition to a doctoral program in clinical psychology. While earning a master’s degree at Loyola, you can expand your practical knowledge by working at the school-sponsored Loyola Clinical Centers, which provides psychological, educational and counseling services to the community. Loyola tied for third in 2016 U.S. News World Report ‘s list of best schools in the North.

  • Master of Science in Clinical Psychology (Practitioner or Thesis track)
  • M.S./Certificate of Advanced Study in Clinical Psychology
  • Masters Plus in Clinical Psychology

University of Indianapolis

The master’s program in clinical psychology at the University of Indianapolis lets you choose from four tracks, including a mental health counseling track, a mental health and addictions counseling track, a research track and a foundational track. The research track requires a thesis and a 225-hour practicum and is designed for students who want to continue on and earn a Ph.D. The foundational program is for students who plan to earn Doctor of Psychology degrees. The mental health tracks both offer a child and adolescent concentration. Both mental health counseling tracks require a 1,000-hour practicum and prepare students for licensure.

Ranked 30th among universities in the Midwest in 2016 by U.S. News World Report. University of Indianapolis’ graduate psychology program features classes with fewer than 25 students and offers a variety of practicum sites for students, including counseling centers, hospitals and addictions support centers. The university’s psychological sciences department also has a Psychological Services Center where graduate students can get hands-on experience helping clients.

  • Master of Arts in Clinical Psychology

Pepperdine University

The Graduate School of Education and Psychology at Pepperdine University confers a Master of Arts (M.A.) in Clinical Psychology with an emphasis in marriage and family therapy. The curriculum focuses on modern practices in psychotherapy and is designed to prepare students for licensure as Marriage and Family Therapists (MFT). This program includes supervised clinical experience, and you have the option of pursuing a focus in serving Latino communities.

Both day and evening formats are available for the master’s program. Students completing the clinical psychology program also will have met prerequisites to apply to Pepperdine’s Doctor of Psychology (Psy.D.) program. Additional training opportunities are available through the university’s Clinic Advancement, Research and Training program and the Pepperdine Applied Research Center. U.S. News World Report ranked Pepperdine 52nd among national universities in 2016.

  • Master of Arts in Clinical Psychology

Top Ten Schools that Offer Master’s in Clinical Psychology



Why Are 203k Loans So Terrible? #loan #calculater


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4 FHA 203k Myths Busted

“Wait, the government. Oh no! They take forever to do things! It’s like time’s standing still” Paperwork. Time. Bids. Big loan. These are all things we hear that are keeping people from taking advantage of the FHA 203k loan for home improvements, renovations and repairs. They also keep real estate agents from suggesting this option to clients. From needed structural repairs to desired improvements like carpet and paint, this government backed program can roll the cost of work into the life of the mortgage.

Well, it’s true. Sometimes it takes our government takes awhile to get through the red tape. And yes, some 203k loans we’ve heard of have taken “forever.” But here’s the secret: We’re closing loans in 30-45 days (just like any other loan). Let’s put 4 myths of the 203k to rest right now.

Yes, there is a little more work involved in a 203k loan . The good news is that we’re experts on the loan, and we know the steps it takes, so we’re efficient at getting whatever paperwork is necessary together all at once. This way you’re not waiting around for your application process to unfold. Our team has completed comprehensive training so everyone understands what HUD wants from the borrower. We can walk you through it.

We’ve heard the horror stories of 203k loans taking forever to close. Time frames including 60 days, 90 days or more have been tossed around. (Read: Don’t Wait 90 Days for Your Mortgage Loan to Close ) There could be several reasons for this to happen. The bank handling the loan may not understand the difference between a full 203k and a streamline 203k mortgage (the basic difference is that a full takes care of structural stuff, the streamline is more for smaller repairs and upgrades). A lot of loans get hung up in the bid process. When looking for a lender, look for one with a network of qualified contractors who have done this work before. In short, the loan should not take significantly longer than any other loan to close.

Some people are natural negotiators. I’m not one of them. So dealing with getting bids and finding the most appropriate one for the work doesn’t sound like a good time. Lots of people are the same way. We make sure we do our homework when it comes to contractors, so you’re not running around getting bids from a bunch of them. AmeriFirst now has a Renovation Lending Department to help take care of the behind-the-scenes work that goes into this part of the process.

“Buying a house and borrowing more money for repairs goes against the advice of financial planners. I don’t want to pay for the carpet for 30 years.” Here’s the great part about the 203k: you can borrow money based on the future value of that home when the repairs are done. So you’re amortizing the cost of the repairs and upgrades into the investment. This means you’re getting instant equity. If you buy a home for $60,000 that’s in the neighborhood of $100,000 homes, and put $20,000 worth of work into it, you’re now the owner of a more valuable home that you paid $80,000 to buy. You have $20,000 instant equity.

Whether it’s finding a great deal on a foreclosure, or working to improve your own home with a refinance, rolling the cost of the repairs and upgrades into the life of the home mortgage loan can really help add value to the house.

The takeaway:

Make sure you find a 203k specialist to help with this process. You want someone who’s done these loans, who knows the government requirements and who knows certified contractors to get the work done.

UPDATE:



Why Home Loan Calculators Are Necessary In India? #unsecured #loans #bad #credit


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Why Home Loan Calculators Are Necessary In India?

Nov 16, 2015

Home loan calculators available in India are of two types namely, eligibility calculators and EMI calculators. All financial institutions provide their customers with these calculators to help simplify the entire home loan process from the application to the repayment stage. Each calculator can be used for a variety of needs and have a number of benefits.

Home loan eligibility calculator

This calculator is used by individuals who plan to apply to a financial institution for a home loan. Even before the application is sent in, this calculator is used to find out how much loan the individual is eligible for. The calculator takes into account the individual’s monthly income, age and the percentage of interest they are willing to pay and the tenure of their choice. Once the amount is calculated the individual has an idea as to how much loan they are eligible for and if required can take steps to be eligible for a higher loan amount. The calculator helps ensure that the individual’s home loan application has a higher chance of being approved. In the cases where the individual wishes to apply for a home loan amount which is higher than what they are eligible for, they can take steps like getting another earning family member to co-sign the loan or improve their credit score. Without this home loan calculator in India being available, the number of home loan applications rejected would be higher.

This calculator provides a number of benefits for the borrower. Once the home loan application has been approved by the financial institution, the individual has to start planning on how to repay the loan. This calculator takes into account the principal loan amount, the interest charged and the tenure of the loan to calculate the monthly EMI. Having this knowledge in had allows the borrowers to plan and take steps to ensure that they make their payments on time. The EMI calculator can also be used by those who have opted for a floating interest rate. The calculator helps then calculate in advance the different possible EMI amounts that they may have to pay based on changes in the interest rate. The type of a home loan calculator in India helps one not only plan their finances but also calculate the correct amounts to ensure no defaults occur.

Home loan calculators in India provide a huge amount of help for the financial institutions’ customers who may have trouble calculating their loan amounts and EMIs. It helps ensure quality loan applications and on time payment of EMIs which is a huge benefit for both the borrowers as well as the financial institutions that provide the loans.



Guarantor Loans are unsecured loans backed by a Guarantor, bad credit loans, guarantor loan #short #term #cash #loans


#uk loans
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A Helping Hand Borrow up to 7,500 with a Guarantor

Guarantor Loans – Borrow up to £7500 to realise your goal

UK Trust Loans Ltd is not a broker – we are a direct lender providing unsecured loans of up to £7,500 which are backed by a Guarantor .

Put simply, Guarantor loans are unsecured loans that require a second person to act as a Guarantor. The Guarantor would typically be a friend, family member or work colleague who would be in a position to guarantee your loan.

Guarantor loans are not payday loans, the interest is much lower, you will not be charged any up front or arrangement fees, and there are no hidden fees or extra charges throughout the period of your loan.

Terms and conditions apply. Applicants must be 18 or over. All loans are subject to status, affordability and credit checks prior to approval, in accordance with UK Trust Loans lending criteria. UK Trust loans performs affordability and credit checks and verifies information on both the Applicant and Guarantor via credit reference agencies and the national data base.

Representative 49.9% APR.

You may not qualify for the product you apply for.

Ts Cs apply. Credit is subject to status, full application, credit check and affordability assessment.

UK Trust Loans Company No 8290762.

UK Trust Loans Ltd is authorised and regulated by the Financial Conduct Authority (Interim permission number 655810).

You can confirm our registration on the Financial Conduct Authority’s website www.fca.org.uk or by contacting the Financial Conduct Authority on



10 Best Affordable Cars for College Students #are #nissans #reliable #cars


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10 Best Affordable Cars for College Students

College students can estimate costs for maintaining and driving cars by projecting the total amounts of fuel, car insurance. and other fees and expenses associated with owning a car.

To help with this important buying decision, we ve compiled a list of 10 economical vehicles with the lowest combined sticker price, and the best miles per gallon. Students shopping for new cars should consider miscellaneous costs associated with owning a car. Miscellaneous costs vary depending upon a number of factors, including the type of car purchased, and where the student resides.

These miscellaneous costs might include: citations, emissions inspections, finance charges, gas, insurance, maintenance, parking, safety inspections, taxes, tags, and traffic citations.

Using information from Car and Driver. we ve listed ten affordable, fun, and reliable cars for today s college student.

Top 10 Cars for College Students

1. Nissan Versa

Economics majors love the Nissan Versa sedan, whose bare-bones styling and modest amenities make it an economical choice for today s college student. The sedan has 14 wheels and a 1.6 liter engine.

According to Nissan s website, the Versa Hatchback offers more than you would expect from its small cost, including AM/FM/CD audio system, auxiliary audio input jack, power windows and door locks, dual power body-color outside mirrors, rear intermittent windshield wiper with washer, and Vehicle Dynamic Control with Traction Control System.

The Versa offers a modest sticker price, a 3-year/36,000-mile limited vehicle coverage warranty, and a 5-year/60,000-mile limited powertrain coverage warranty, making this a smart choice for the financially conscious college student.

2. Hyundai Accent

The Hyundai Accent stands solidly in the number two spot on our list of least expensive vehicles for today s cost-conscious college student. Described by Car and Driver as delightful, the Accent has a sticker price of less than $11,000 brand new, and boasts affordability, sleek styling, a five-year/60,000-mile basic warranty, and a 10-year/100,000-mile drivetrain warranty that minimizes unexpected expenses.

3. Smart ForTwo

The tiny Smart car rests in the number three spot on our list of the most cost-effective vehicles for college students. This tiny ride may appear more at home on a bike path than the highway, but the price tag, and the estimated miles per gallon, makes this car an excellent choice for the cash-strapped college student. Smart cars have a 2-year/24,000-mile limited warranty.

4. Chevrolet Aveo

The Chevrolet Aveo is the only American car on our list, and the fourth most economical vehicle for college students. American auto enthusiasts may want to consider the Chevy Aveo, which comes equipped with a 3-year/36,000-mile limited vehicle coverage warranty, and a 5-year/100,000-mile limited powertrain coverage warranty.

5. Kia Rio

The Kia Rio ranked high in a Car and Driver comparison test of economy cars, with the test driver rating the vehicle cute and fun to drive. At number five on our list of affordable vehicles, the Rio comes with a 5-year/60,000 mile limited basic warranty and a 10-year/100,000 mile powertrain warranty.

6. Toyota Yaris

The tiny Toyota Yaris is number six on our list of the best vehicles for the modern college student. If you want style and reliability, look no further than the Yaris. This small production vehicle couples beautiful styling with affordability, low ownership costs, a 3-year/36,000 basic warranty, and a 5-year/60,000-mile powertrain coverage warranty. The Yaris offers the peace of mind that comes from owning a Toyota, one of the most reliable car manufacturers in the world.

7. Kia Soul

At number seven on our list is the Kia Soul, the boxy small vehicle by the Korean auto maker. This affordable new car offers a menu of customization options which include stripe packages, custom wheels, body-kits, a 5-year/60,000 mile limited basic warranty, and a 10-year/100,000 mile powertrain warranty. Kia offers a number of limited edition models reminiscent of the Toyota Scion line of vehicles, including special paint jobs and unique interior trims.

8. Suzuki SX4

The Suzuki SX4 comes in at number eight on our list of the ten most cost-effective cars for modern college students. With its sleek modeling and choice of trim packages, including a hatchback or a 4-door, the SX4 offers a decent 9 second, 0-60 mph time. Suzukis have a 3-year/36,000 mile new vehicle limited warranty, and a 7-year/100,000 mile limited powertrain warranty.

9. Hyundai Elantra

The manual transmission model of the Hyundai Elantra is the ninth most cost-effective vehicle on our list. Coupling sleek styling with fuel efficiency, and a conservative sticker price of around $15,000 brand new, Hyundai also offers an industry-leading five-year/60,000-mile basic warranty and a 10-year/100,000-mile drivetrain warranty on the purchase of any new vehicle.

10. Kia Forte

The Kia Forte finds itself in the tenth spot on our list of the most fuel-efficient vehicles for college students. An added bonus: Kia, like Hyundai, offers an industry-leading 5-year/60,000 mile limited basic warranty and a 10-year/100,000 mile powertrain warranty.

Final Word

Factor in all the associated miscellaneous costs and fees associated with purchasing a vehicle before buying a car. The fees and costs can easily add up to thousands of dollars on top of the purchase price. Used models of the above-listed vehicles can reduce the costs of ownership even more, but keep in mind that used cars may have additional expenses related to car maintenance .

Are you a cash-strapped college student? What is your car of choice, and how has it worked out for you so far?

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Career development loans: are they a good way to fund your master s? #student #loans #no #cosigner


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Career development loans: are they a good way to fund your master’s?

F unding is the biggest headache faced by students wanting to continue their studies after their undergrad degree. Taught master’s degrees no longer qualify for research council funding, and while some students manage to put together a funding package through scholarships and sponsorships, others are drawn to taking out a bank loan. But is this a good move?

Career development loans (CDLs) have become an increasingly common funding option for those undertaking postgraduate study. There are only two banks currently offering them – the Co-operative bank and Barclays .

Since the government-supported scheme began in 1988, over 304,000 people have taken out a CDL. In this 25-year period, banks have lent in excess of 1.34bn. The Co-operative says: We have seen a steady increase. In 2013, almost 5,000 people took out a CDL with the Co-operative bank.

The CDL funds full- or part-time vocational and professional study. Although it is a commercial bank loan, the government pays the interest for the duration of the course and recipients do not have to repay the loan until they complete their studies.

In recent years, the number of students undertaking postgraduate study has fallen due to following a rise in course fees. A postgraduate taught course now costs an average of just under 6,000 a year, an increase of 7% since 2012-2013.

The number of part-time students has fallen even further. Between 2010-11 and 2012-13, UK and EU students entering part-time postgraduate courses dropped 27% – the equivalent of 25,000 students.

Despite the fall in numbers of those undertaking postgrad study, there’s been a rise in CDL applications, because of the funding cuts.

The Department for Business, Innovation and Skills (BIS) explains the point of the loans: Professional career development loans are short-term finance offers which enable adults to undertake vocational and professional study, with the aim of moving on in work or into work quickly. Recipients are able to concentrate on the learning or training without needing to meet repayments. Repayment only begins one month after they leave their course.

Nevertheless, CDLs have come under some scrutiny and the University and College Union (UCU) argues that high interest rates, non-income contingent payback terms and the need for a good credit record mean that they are not suitable for everyone.

UCU points to a worrying effect on access to postgrad study: Students from less advantaged socio-economic backgrounds tend to be more risk-averse, and the benefits of further learning and the increased salaries that postgraduate qualifications can bring are being skewed towards more advantaged learners only.

You can take out a loan for any amount between 300 and 10,000, and both banks offer an interest rate of 9.9%. CDLs are available to those aged between 18 and 69 with an unlimited right to stay in the UK. However, you need to have been resident in Britain for at least three years, so if you have been abroad for over six months then the banks are likely to reject your application.

The banks will also reject your application if your credit rating doesn’t match their eligibility criteria. While neither the Co-operative nor Barclays were able to disclose the number of applications they rejected, I spoke to a number of students who had their applications declined.

Emma Finamore, currently doing a journalism master’s at Goldsmiths, University of London, says: My application was rejected even though I hadn’t been in any trouble with the bank or phone companies. This nearly stopped me from pursuing my dream of studying journalism.

If I hadn’t started a crowd-sourcing campaign and known someone who was prepared to lend me 5,000, I wouldn’t have been able to do this master’s.

The government covers the interest for one month after the course finishes, but after that the loan operates as a normal bank loan. The student is then fully liable for repayment. Recipients are given between one and five years to repay their loan; but obviously the longer they take, the more interest they accrue. The Co-op bank says the average term on a CDL is five years.

Unlike ordinary loans, CDLs come without arrangement fees or early settlement charges – if you want to end your repayment plan prematurely you can settle without additional charges.

If a graduate is still unemployed after they complete their course, there are protections in place and repayments can be deferred for up to 17 months, but this must be applied for in three separate stages.

However, once the recipient has entered into a repayment scheme it can become very difficult to halt or postpone payments. Banks are keen to retrieve their money even if employment circumstances change. With increasingly precarious labour conditions and the growth of zero-hour contracts, jobs will not necessarily remain secure for the entire repayment scheme.

Veering off-plan can cause long-lasting damage to your credit history and affect your future ability to gain credit. As with all bank loans, there is some degree of financial risk involved.

If recipients fail to meet payments, both the Co-operative and Barclays transfer the loan to a debt collector agency. The Co-op says they cannot disclose how frequently they transfer loans to a third-party debt agency because this is commercially sensitive data.

The Co-op says: If a customer encounters financial difficulties and is unable to pay back their loan, we would encourage them to contact us as soon as possible. We always strive to support customers facing financial difficulties and would only turn to a collection firm as a last resort.

BIS says: CDLs are commercial bank loans and as such the banks seek recoveries in the event someone misses regular repayments and so defaults.

The CDL may be far from a perfect solution to postgraduate funding, but it is one of the few funding options available.

If applicants think the course will further their vocational skills and career prospects, then the CDL may be a good option, but it is less so for those wishing to pursue a future in academia or any other career where a regular salary is not a safe bet.

Advice and an application pack are available if you call the information line on 0800 585 505, open Monday to Sunday, 8am to 10pm, or visit direct.gov.uk/pcdl for details.



Armed Forces Loans Are Easy To Qualify For. Get Approved Today. #construction #loan #calculator


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Easy Armed Forces Loans

Getting cash quickly doesn’t have to be a long and involved process. Just Military Loans understands that when you need cash fast, you can’t afford to wait for days or weeks for loan approval. Believe us when we say we “get it.” Serving in the United States Military already comes with enough demands on your time. The last thing you need is to have to encounter a lengthy and detailed loan application process. When we say we take the hassles out of applying for the armed forces loans you need immediately we really mean it. Over the last several years, we’ve become a trusted online military loan leader. We’ve helped thousands of enlisted military personnel just like you, who have needed a quick cash loan for any reason. We take your privacy and personal security very seriously. That means you never have to worry about us selling your personal data to any third party company after you begin your loan application process with us. Or ever, for that matter.

Our name says it all. Just Military Loans specializes in servicing the exclusive and unique needs of the men and women serving actively in the United States Armed Forces.  The best part about applying with us for armed forces loans is that we’ve made qualifying as easy as 1-2-3 .  If you have at least 18 months of service remaining in your tour of duty, and are able to make at least 12 monthly payments, you are qualified! It really is that easy! We’ve developed a unique proprietary model that takes military service personnel into consideration when applying for a cash loan with us. We have dedicated our lending practices exclusively to the enlisted men and women of the United States Army. Navy. Marine Corps. Air Force and Coast Guard . What this means to you is that even if you have no credit, little credit or even bad credit, we can still get you quickly approved at the same rate as other service personnel.

Let s take the case of Lieutenant Daniels (not his real name). Lieutenant Daniels came to us a few months ago because he needed a quick armed forces loan right after his vehicle broke down. The repairs were prohibitively expensive and the mechanic advised him he d be better off buying a new vehicle than paying to get his older vehicle repaired. Well, Lieutenant Daniels knew he couldn t afford a brand new car, but his close friend Brad (not his real name) was getting ready to sell his vehicle. Brad was more than happy to give Lieutenant Daniels a great deal on his much newer and more efficient automobile, but there was one condition; he would need to pay for the vehicle in full and within 2 weeks because Lieutenant Daniels was getting ready to relocate to another part of the country. And although Lieutenant Daniels really wanted to help Brad out, he absolutely could not afford to front the money or give him a loan. To make matters more complicated, Lieutenant Daniels knew his credit wasn t in great shape and that the chances of him qualifying for a higher limit credit card with cash advance privileges or traditional loans, were slim to none.

When Just Military Loans received Lieutenant Daniels s application and most current Leave and Earnings Statement (LES), we were able to get Lieutenant Daniels approved within less than 24 hours! Not only did Lieutenant Daniels get the money he needed, he also had enough money left over for new tires and an in-dash upgraded radio/cd player. Lieutenant Daniels was thrilled and so were we. We are in the business of helping thousands of enlisted military personnel  just like Lieutenant Daniels every single year. Oh, and did we mention we really don t ever need to know what you need the money for and will never ask you. That has never been a qualifying factor in order to receive any loans for military personnel with us.

We hope you now have a better understanding of just how incredibly simple it is to apply for and quickly receive your military short term loan with Just Military Loans. Why hassle with traditional bank loans and high interest credit card cash advances, when you can apply for and get approved within as little as one to two days with Just Military Loans? We ve got the armed forces loans you need right now.



United Cash Loans – What are the complaints against them? #home #loans #calculator


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United Cash Loans – What are the complaints against them?

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United Cash Loans is a payday loan company that claims to offer quick cash to borrowers. Consumers dealing with this company have a lot of complaints. Read through the section below to know more about these complaints.

What are the United Cash Loans complaints?

There are many consumers who have shared their bitter experience with United Cash Loans in the DebtCC forums. They have the following complaints against this company:

  • Debiting money even after loan is paid. Some consumers claim that the company kept debiting their accounts even after the loan amount was paid. One such consumer says that he took a loan of $300 from the company. They kept renewing his loan and debited his account for a total of almost $900! Read more .
  • Not licensed to lend. Consumers allege that the company is not licensed to lend in many states like Nevada, Oklahoma, etc. They often violate the laws regarding lending and thus, they pose a threat to those taking loans from this company. Know more .
  • Withdrawing extra money. United Cash Loans is accused of withdrawing extra money from customers’ accounts. A customer says he took out a loan of $200 and the company was withdrawing $60 every two weeks. But suddenly they started withdrawing $80-100! He ended up paying them over $600 for the loan! Find more on this .
  • Unauthorized withdrawal. A customer made arrangements to pay the company $135 from his bank account to repay a loan. But later on, the company took another $105 which was not authorized by the customer. On contacting, the company told him that he made arrangements to pay $105 and they did not do anything illegal. But he insists that he had authorized the withdrawal of only $135! Check out for more .
  • Harassing calls. Customers complain of getting harassing calls from United Cash Loans. A customer says he paid well over $700 for a loan of just $200. He had to close his account as the company had drained his funds. But even then, he kept on receiving harassing calls from the company. He was also threatened that a lawsuit would be filed against him. Know more .
  • Rude behavior. People say that United Cash Loans customer service is not good. A person complains that the company renewed his loan 7 times illegally and charged him more than they should have. When he called the company regarding this, the representative talked to him in a rude manner. Find the details .

If you need to contact this company, you may find the following details useful:

United Cash Loans Address:



Your Money: Car loans are cheap, but shop around #payday #loans #online


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Your Money: Car loans are cheap, but shop around

Scott Halleran, Getty Images

New luxury sedans are seen at the Mercedes-Benz of Houston Greenway dealership in Houston.

New luxury sedans are seen at the Mercedes-Benz of Houston Greenway dealership in Houston. less

It’s hard to beat the thrill of jumping behind the wheel of a new car at the North American International Auto Show, especially if your clunker is already 9 or 10 years old.

But how exciting is a car loan? Just itching for another monthly payment? Yeah, right.

The hot news about car loans this year, though, is that rates are lower than last year — so shopping around for car loan could prove invigorating when you snag a real deal.

“We’ve never seen rates this low” in the surveys of banks and credit unions, said Greg McBride, senior financial analyst at Bankrate.com .

Bargain car loan rates — both for used and new cars — are hovering around 3% or so now at banks and credit unions.

Plenty of carmakers are offering 0% and 1.9% financing on several models, too. But make sure to run the numbers on various online calculators to determine whether you’d be better off taking a cash-back rebate than 0% financing, if given a choice.

In mid-January, the average new car loan rate was 4.15% for a five-year new car loan at banks and credit unions surveyed by Bankrate.com .

The average used car loan rate was 4.77% for a four-year used car loan, according to Bankrate.com.

“We’re in a prolonged low-rate environment, and I don’t think they’ve bottomed yet,” McBride said.

Another trend: Some lenders are offering new car loans that go beyond five years, say 72-months, and a few are rolling out 84-month car loans.

Comerica’s 3.99% rate, for example, applies to 60-month and 72-month car loans.

Melinda Zabritski, director of automotive credit for Experian, said some consumers with lower credit scores can qualify for a more expensive new car if they opt for a six-year loan instead of five years.

Some consumers with higher scores opt for seven-year car loans to buy luxury brands, she said.

“A lot of it is an effort to make some expensive vehicles a little more affordable on a month-to-month basis,” Zabritski said.

Be warned, though: Dragging out a car loan to six or seven years drives up total interest paid for a car; and a consumer risks owing more on the car than it’s worth when it comes time to sell.

Another warning: If you don’t shop around for a car loan rate, though, it’s easier to get taken for a ride on rates.

“We see greater disparity in auto loan rates than any other product,” McBride said.

Lenders often decide what kind of market share they want in the auto loan business and price their car loans accordingly. And yes, many realize that consumers don’t shop for car loans as diligently as they should.

Does that mean everyone gets a car loan at less than 5%? Absolutely not. Rates vary by credit history.

The Detroit-based Communicating Arts Credit Union had received an initial $1.5 million federal grant in November 2011 to develop a bailout program for people who have extremely high car loan rates.

As part of that program, the credit union had 34 auto bailouts that had original car loan rates in excess of 19%. One customer refinanced a rate of 25% to 3.25%.Other customers refinanced rates of nearly 25% to a range of 9.5% to 12.5%.

Going to 5% from 25% would drop the monthly payment to $188.71 from $293.51 on a five-year, $10,000 car loan.

Hank Hubbard, president and CEO of the Communicating Arts Credit Union, said many times shoppers don’t realize they have alternatives. Some old loans may have been made during the credit crunch.

We’ve swung from one extreme where anyone could get a car loan during the economic boom to another extreme where lenders were paranoid about making loans to creditworthy consumers during the financial meltdown.

Now, “Lenders are certainly making loans available,” Experian’s Zabritski said.

Typically, Toprak said, someone with a 620 credit score could be getting a rate of 8.9% or higher now; while someone with a 500 credit score could be offered 13.9% now.



What kinds of government loans are available to homebuyers? #cheapest #loan #rates


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What kinds of government loans are available to homebuyers?

Questions:

Answer:

What kinds of government loans are available to homebuyers?

Several federal, state, and local government financing programs are available to homebuyers. The two main federal programs are:

FHA loans. The Federal Housing Administration (FHA), an agency of the Department of Housing and Urban Development (HUD), offers insurance backing to loans made to U.S. citizens, permanent residents, and noncitizens with work permits who meet financial qualification rules. Under its most popular program, if the buyer defaults and the lender forecloses, the FHA pays 100% of the amount insured. This loan insurance lets qualified people buy affordable houses. The major attraction of an FHA-insured loan is that people with passable credit scores can put down as little as 3.5%. Another plus is that, unlike with conventional loans, FHA-backed loans allow the entire down payment and costs costs to come from a gift (perhaps from family). The downside is that FHA loans have a maximum loan limit that varies depending on the average cost of housing in a given region. (Find out FHA’s loan limits at www.fha.com by clicking on “2014 FHA Limits.”) Also, you’ll have to pay MIP (mortgage insurance premium) as part of an FHA loan. For more information on FHA loan programs, contact a regional office of HUD or check the FHA website at www.hud.gov .

VA loans. U.S. Department of Veterans Affairs (VA) loans are available to men and women who are now in the military and to veterans with honorable discharges who meet specific eligibility rules relating to length of service, credit history, and recent employment, as well as eligible surviving spouses. The VA doesn’t make mortgage loans, but guarantees part of the house loan you get from a bank, savings and loan, or other private lender. If you default, the VA pays the lender the amount guaranteed and you, in turn, will owe the VA. This guarantee makes it easier for veterans to get favorable loan terms with low or no down payment and no PMI (private mortgage insurance). (Conventional mortgages have PMI and FHA loans have MIP.) For more information, check www.va.gov or contact a regional VA office for advice.

Other government loan programs. For information on other government loans, contact your state and local housing offices. They often have programs available for first-time homebuyers who are purchasing modestly priced properties. To find your state housing office, check the State and Local Government on the Net Directory at http://statelocalgov.net. Or go to your state’s home page, where you may find the listing for your state’s housing office.



How to Spot and Avoid Credit Card Skimmers #what #are #the #best #credit #card #companies


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How to Spot and Avoid Credit Card Skimmers

Criminals can easily capture your credit and debit card information with small devices called skimmers. Don’t fall victim to these insidious attacks!

The moment I started seriously worrying about credit card and debit card skimmers wasn’t when my entire bank account was transferred to Turkey, or when I had to get three credit cards in two months because of fraudulent charges. It was when I learned that stealing a credit card number is as easy as plugging in a magnetic strip reader into a computer and opening a word processor. Every swipe is read as a keyboard entry, with no extra setup required. More advanced devices to steal your information are installed by criminals directly on to ATMs and credit card readers. These are called skimmers, and if you’re careful you can keep from being victimized by these insidious devices.

What Are Skimmers?
Skimmers are are essentially malicious card readers that grab the data off the card’s magnetic stripe attached to the real payment terminals so that they can harvest data from every person that swipes their cards. The thief has to come back to the compromised machine to pick up the file containing all the stolen data, but with that information in hand he can create cloned cards or just break into bank accounts to steal money. Perhaps the scariest part is that some skimmers don’t prevent the ATM or credit card reader from functioning properly.

Classic skimming attacks are here to stay, and will likely continue to be a problem even after banks make the shift to EMV chip cards. according to Stefan Tanase, a security researcher at Kaspersky Lab. Even if the cards have a chip, the data will still be on the card’s magnetic strip in order to be backwards compatible with systems that won’t be able to handle the chip, he told us. Now, months after the U.S. rollout of EMV cards, some merchants still require customers to use the magstripe.

The typical ATM skimmer is a device smaller than a deck of cards that fits over the existing card reader. Most of the time, the attackers will also place a hidden camera somewhere in the vicinity with a view of the number pad in order to record personal-identification-numbers, or PINs. The camera may be in the card reader, mounted at the top of the ATM, or even just to the side inside a plastic case holding brochures. Some criminals may install a fake PIN pad over the actual keyboard to capture the PIN directly, bypassing the need for a camera.



Personal Loans on the Rise, but are They Right for You? #best #personal #loans


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Personal Loans on the Rise, but are They Right for You?



Why Are STUDENT LOAN Rates So HIGH? #loan #repayment #calculator


#student loans rates
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Why Are STUDENT LOAN Rates So HIGH?

Q: Why are student loan interest rates so high?

A: The answer is that student loans are not backed by collateral (like a mortgage or a car loan) and also, because students often default on their student loans.

With a mortgage or a car loan, if the customer defaults (stops making payments) the bank can seize the collateral asset. With student loans, there is no collateral asset that can be seized.

This means that student loans present a greater risk to loan providers, so they raise the interest rate and fees of student loans according to the credit score of the applicant.

For this reason, if you are applying for a private student loan offered by a bank, you will likely need to apply with a creditworthy cosigner (or co-borrower) in order to qualify.

But before you apply for a private student loan with a high interest rate, make sure that you make use of all of your federal student aid options FIRST.

If you need a student loan to help pay for college, you need to start by completing the FAFSA form at www.fafsa.ed.gov

Most students will need help from a parent to complete the FAFSA, but this is the only way to get access to low-cost federal student aid.

1. There are three types of federal student aid:

Grants: This is financial aid that does not have to be repaid (unless, for example, you withdraw from school and owe a refund).

Work-Study: This program allows you to earn money for your education. This aid does not have to be repaid.

Federal Loans: These loans allow you to borrow money for your education. You must repay all loans, with interest. Federal loans come with fixed interest rates and are usually the cheapest form of student loans.

2. Beyond federal aid, there are also private student loans:

Private Student Loans: These loans are usually offered by banks to help you pay your education costs. Unlike federal student loans, private loans come with variable interest rates that can change monthly or quarterly. To qualify, most students need to apply with a creditworthy cosigner (such as a parent).

To save money, students should make use of all of their federal student aid options before considering a private student loan.

3. So here are all the student loan options to consider:

Federal Perkins Loans (Best Choice Option)

– 5 percent fixed rate

– Receive up to $5,500 a year

– No payments until after school

Perkins Loans are made through participating schools to undergraduate, graduate and professional degree students. They are offered to students who demonstrate financial need and are enrolled full-time or part-time. These loans must be repaid to your school.

Federal Stafford Loans (Best Choice Option)

– Low fixed rate

– Receive up to $8,500 your first year

– No payments until after school

Stafford Loans are for undergraduate, graduate and professional degree students. You must be enrolled as at least a half-time student to be eligible for a Stafford Loan. There are two types of Stafford Loans: subsidized and unsubsidized. You must have financial need to receive a subsidized Stafford Loan. The U.S. Department of Education will pay (subsidize) the interest that accrues on subsidized Stafford Loans during certain periods. Financial need is not a requirement to obtain an unsubsidized Stafford Loan. You are responsible for paying the interest that accrues on unsubsidized Stafford Loans.

Federal PLUS Loans for Parents (Good Choice Option)

– A federal loan that parents can use for a child

– Low fixed rate

– Receive up to total cost of education

The PLUS Loan can be a good option if a parent is willing to help you pay for school. PLUS Loans are loans parents can obtain to help pay the cost of education for their dependent undergraduate children. Some parents prefer the PLUS Loan to home equity loans because they do not have to put their home at risk. It is also a better option for parents who may be considering taking money out of a retirement account for education purposes. In addition, graduate and professional degree students may obtain Graduate PLUS Loans to help pay for their own education.

Private Student Loans (Last Choice Option)

– Must have good credit or cosigner to qualify

– Comes with a variable interest rate

– Can usually cover all education costs

– Payments can be delayed until after school

– Avoid private loans where the money comes straight

to you — these loans can be very, very expensive.

Private student loans from banks can be a good option after you have maximized all of your federal student aid options first. Because private student loans are typically more expensive than federal student loans, it is not recommended that you use a private loan to cover all of your education costs. If you must take out a private student loan, use those funds to cover your extra or left-over expenses. Also, if possible, it is a good idea to make interest payments on your private loan while you are still in school. If you do not, you may be surprised by the amount of interest that has accrued while you were in school. If you are a graduate or professional degree student, consider the Graduate PLUS Loan before taking out a private student loan.

Last word of advice: Check out your free money options before considering any student loan.



Debt Consolidation Loans – What They Are and How They Work #online #payday #loans


#unsecured debt consolidation loans
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Debt Consolidation Loans – What They Are and How They Work

A debt consolidation loan is a type of financing that is extended to people that have multiple debts, allowing them to consolidate (or combine) all of their debts into one new loan.

While debt consolidation loans can be used to consolidate various types of personal debt. the most common is credit card debt. The loan is intended for people with multiple credit cards who are struggling with making the minimum monthly payments to their creditors.

Benefits of Debt Consolidation Loans

The benefits of a consolidation loan can be a worthwhile solution to climbing out of debt for candidates with heavy debt that is dispersed amongst multiple credit cards.  Essentially, when taking out a consolidation loan, you are paying your credit card debts in full and the new loan is established in their place.  Taking out a consolidation loan is beneficial in the following ways:

  • May reduce the number of collection calls you receive from multiple creditors
  • Allows you to make one monthly payment to one source
  • Provides you the opportunity to improve your credit score over time by making timely payments

Secured vs. Unsecured Debt Consolidation Loans

There are two basic types of consolidation loans – secured and unsecured.  Secured loans are tied to an asset (house, car, piece of property) and used as collateral in the event that you default on your loan.  Unsecured loans are not tied to an asset and are based largely on your credit history because you are considered high-risk for a lender.

Secured Loan: positives and negatives

+ Easier to obtain from a lender

+ Higher borrowing amount allotted

+ No asset risk

+ Shorter repayment term (lower cost in interest over time)

 Harder to obtain from a lender (high risk borrower)

 Lower borrowing amount allotted

 Higher interest rate

 No tax benefit

How Will a Debt Consolidation Loan Affect My Credit?

A debt consolidation loan can provide an opportunity to improve your credit if you use it as a financial plan, as opposed to just shifting debt around.  When you take out your consolidated loan, your credit card debt will be paid in full and you will focus on paying down your single new loan.

If you need to take out a consolidation loan, it is safe to assume that your credit has already taken a hit with delinquent payments.  As your score won’t immediately improve, timely payments on the new loan will start to positively impact your credit rating over time.



Are Student Loans BAD DEBT? #amortized #loan #calculator


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Are Student Loans Bad Debt?

Q: Are student loans considered bad debt? Or do student loans make sense for some students?

A: Student loans are not always a bad option, but you need to be careful about accepting any loan.

You need to be especially careful with student loans because it is easy to borrow too much, and student loans cannot be discharged in bankruptcy. So whatever you borrow, you need to be able to repay.

The general rule with loans is this: It is better to take a loan for something that increases in value over time than for something that decreases in value over time.

So for example, a home mortgage makes sense because the value of the house will increase over time. This is what people call ‘good debt’ because you are buying an asset. An asset is something that can earn you money over time.

On the other hand, an expensive car loan is bad because the value of the car quickly decreases over time. This is what people call ‘bad debt’ because you are buying a liability. A liability is something that will never earn money over time, it only costs money.

So before you borrow one penny, you need to ask yourself what your education will be worth over time. You need to plan for what your career will be after you graduate from school. For example, a law, medical, business, or engineering degree will almost always earn more than a psychology, history, or communications degree. So plan accordingly and avoid debt whenever you can.

How Do I Pick the Right Student Loan?

If you must take out a student loan, you need to start by completing the FAFSA form at www.fafsa.ed.gov

Most students will need help from a parent to complete the FAFSA, but this is the only way to get access to low-cost federal student aid.

1. There are three types of federal student aid:

Grants: This is financial aid that does not have to be repaid (unless, for example, you withdraw from school and owe a refund).

Work-Study: This program allows you to earn money for your education. This aid does not have to be repaid.

Federal Loans: These loans allow you to borrow money for your education. You must repay all loans, with interest. Federal loans come with fixed interest rates and are usually the cheapest form of student loans.

2. Beyond federal aid, there are also private student loans:

Private Student Loans: These loans are usually offered by banks to help you pay your education costs. Unlike federal student loans, private loans come with variable interest rates that can change monthly or quarterly. To qualify, most students need to apply with a creditworthy cosigner (such as a parent).

To save money, students should make use of all of their federal student aid options before considering a private student loan.

3. So here are all the student loan options to consider:

Federal Perkins Loans (Best Choice Option)

– Low fixed rate

– Receive up to $5,500 a year

– No payments until after school

Perkins Loans are made through participating schools to undergraduate, graduate and professional degree students. They are offered to students who demonstrate financial need and are enrolled full-time or part-time. These loans must be repaid to your school.

Federal Stafford Loans (Best Choice Option)

– Low fixed rate

– Receive up to $8,500 your first year

– No payments until after school

Stafford Loans are for undergraduate, graduate and professional degree students. You must be enrolled as at least a half-time student to be eligible for a Stafford Loan. There are two types of Stafford Loans: subsidized and unsubsidized. You must have financial need to receive a subsidized Stafford Loan. The U.S. Department of Education will pay (subsidize) the interest that accrues on subsidized Stafford Loans during certain periods. Financial need is not a requirement to obtain an unsubsidized Stafford Loan. You are responsible for paying the interest that accrues on unsubsidized Stafford Loans.

Federal PLUS Loans for Parents (Good Choice Option)

– A federal loan that parents can use for a child

– Low fixed rate

– Receive up to total cost of education

The PLUS Loan can be a good option if a parent is willing to help you pay for school. PLUS Loans are loans parents can obtain to help pay the cost of education for their dependent undergraduate children. Some parents prefer the PLUS Loan to home equity loans because they do not have to put their home at risk. It is also a better option for parents who may be considering taking money out of a retirement account for education purposes. In addition, graduate and professional degree students may obtain Graduate PLUS Loans to help pay for their own education.

Private Student Loans (Good Choice Option for Borrowers with Great Credit)

– Must have good credit or cosigner to qualify

– Comes with a variable or fixed interest rate

– Can usually cover all education costs

Private student loans from banks can be a good option after you have maximized all of your federal student aid options first. Because private student loans are typically more expensive than federal student loans, it is not recommended that you use a private loan to cover all of your education costs. If you must take out a private student loan, use those funds to cover your extra or left-over expenses. Also, if possible, it is a good idea to make interest payments on your private loan while you are still in school. If you do not, you may be surprised by the amount of interest that has accrued while you were in school. If you are a graduate or professional degree student, consider the Graduate PLUS Loan before taking out a private student loan.

Last word of advice: Check out your free money options before considering any student loan.



Are personal loans bad for your credit score? #interest #rates #for #car #loans


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Are personal loans bad for your credit score?

Taking out a personal loan is not bad for your credit score in and of itself. However, there are several factors that come with taking out a new loan that could affect your overall credit score.

What Factors Into Your Credit Score

To understand how taking out a personal loan affects your credit score, you must first understand how the score is calculated. Roughly 35% of your overall credit score is based on your payment history. Thirty percent of your score is based on the total amount of debt you owe. Ten percent of the score is based on the number of credit lines that you have opened recently.

The last two factors are initially impacted by a new personal loan. Your total debt increases overall, and a new credit line is opened. The credit agencies take note of this activity and could possibly lower your credit score based on the new loan. However, your overall credit history has more impact on your credit score than a single new loan. If you have a longer history of managing debt and making timely payments, the effect on your credit score from a new loan is likely to be lessened.

Keeping a New Personal Loan From Damaging Your Credit Score

The easiest and best way to keep a personal loan from negatively affecting your credit score is to continue making payments on time and to pay off the debt within the terms of the loan agreement. A personal loan that you pay off in a timely fashion can actually have a positive effect on your credit score; it demonstrates that you can handle debt responsibly.