Loan

Credit News

Pensioner Loans – Low Income Loans Australia, low cost loans.#Low #cost #loans


Pensioner Loans

As a pensioner you may find it difficult to qualify for a loan from the banks. A big obstacle that most many pensioners face is being on a fixed income that really only covers living expenses with little left over. Banks and other large lenders tend to view this as a negative in their approval criteria among other things. Whilst the banks may not be a great option for obtaining financial help, there are other flexible options.

If you have struggled with debt and have late repayments in your financial history, your credit rating would reflect this. Being considered a bad credit risk can eliminate you from consideration for certain types of loans. Fortunately, there are still financial programs listed below that can provide assistance.

As with any type of loan, you will need to provide your personal and financial details along with income sources.

Compare Pensioner Loan Options

When reviewing any type of loan it is important to do your due diligence. Entering into a loan under poor terms can make your financial situation worse. Below are some tips on how to avoid engaging with un-reputable lenders.

  • Always check online reviews
  • Always search for online complaints
  • Use comparison sites but be wary, many of these sites only promote lenders that advertise with them. They may not disclose the actual best loans for pensioners.
  • Verify the lenders are appropriately licenced, this can be done with a quick search on ASIC

Following the above tips will help keep you falling victim to scams or predatory lenders.

Quick view – See loan and benefit options for specific circumstances here.

Below are multiple loan and money assistance programs for those on a pension

Specialist Lender: Seniors often have issues qualifying for work if they don t have a source of income outside of benefits or a pension. This is where a specialist lender may be a good option. They provide loans from $1000 to $5000 and generally have flexible approval criteria, even helping those with bad credit Learn more and apply here.

StepUp: The StepUp loans are low value loans that range from the high hundreds to the low thousands and are short term, fixed rate and low interest options ideal for a number of situations. Be it a sudden medical bill, crucial household repair or even if you’re just running a bit short this month, these small value loans, if paid back on schedule, can just the boost you need to help make that small emergency a thing of the past.

No Interest Loan Schemes: Commonly known as NILS; these are specialised loan schemes that are suited to anyone who requires financial help that serves to only improve the situation without any long term drawbacks. Since only those who receive government welfare are eligible for NILS, they are assured to be ideal for pensioners. All NILS applicants must possess a Centrelink pension card, which allows you to borrow in excess of a thousand dollars with absolutely no interest. There is no catch. These can be utilised for any purpose from household refurbishing, to auto maintenance or medical emergencies. Any regional community centre should be able to help with applying for NILS. The only documentation required is proof that repayment within a year and a half is possible.

Advance payments: A special advantage that Centrelink provides Australian pensioners are the advance payments that one is entitled to. You can get an advance payment of either one week or three week’s pay. The amount must be returned within a six month period, interest free. In the six month period you are allowed the option of choosing one advance payment of the highest allowed amount or three separate payments of the lowest allowed amount.

Good Money: Is a three way partnership between Good Shepherd Microfinance, State Governments and NAB. They assist residents of Victoria access low or no interest personal loans for the purchase of household goods. In addition to loan assistance, they also can assist with medical expenses, bills, debt and other money matters.

Pensioner Loans Scheme: This particular loan is for seniors who are of pension age (64+ for women 65+ for men) but don’t qualify for the Age Pension because of high incomes or asset value. This scheme allows you to obtain capital tied up in your assets to provide you with extra income. For detailed information visit humanservices.gov.au

If you are experiencing serious financial stress and are not collecting Centrelink benefits, try using the Centrelink benefits calculators to see if you qualify for some financial assistance. If you are already collecting Centrelink, try using the compare calculator or estimator to see if there is additional pensioner assistance you may qualify for.

Banks: Most of the banks in Australia do provide loans to pensioners. Applying through your bank may prove your best chances of approval as you already have a relationship with them. As with any lender, each application is looked at on a case by case basis. In addition, some banks may require your pension income be taxable to be accepted and if you are collecting benefits, a letter from Centrelink detailing your payments may be required.

Charities: If none of these options are what you are looking for, there are always a number of charitable foundations that might be willing to help out pensioners. Assistance in the form of money for utilities, sustenance and shelter are available from a number of organisations like the Salvation Army, etc. You can visit Australian Charities and Non-profits Commission for a list of all major charities that provide support for pensioners.

If non of the above options are unable to assist you with your financial situation, try reaching out to a free financial counselor at http://www.financialcounsellingaustralia.org.au/Home as they may have alternative solutions to your financial needs.

AddsUP: Is a program which is an extension of the NILS and StepUp programs. Its essentially a savings program where there is a matched savings from AddsUP, they will match each dollar you put into the savings after you have saved $300 on your own, the matching is capped at $500. This is a great program as it helps participants create a emergency fund which an give them a bit of peace of mind and cash for unexpected financial emergencies.

Saver Plus: Similar to AddsUP, this is a savings program for low income earners and their families. It also is a dollar for dollar matching program that is capped at $500.

These different programs are excellent options for seniors looking to take out a pensioner loan as they are low cost and specifically designed for those on a fixed or low income.


Cheapest Interest Rate Home Loans Online Mortgage Quotes, low cost loans.#Low #cost #loans


cheaper mortgages

affordable fixed rate

expert home lenders

Low cost loansLow cost loansLow cost loansLow cost loansLow cost loans

Low cost loans

We Specialize in low rate lending across the united states. Lowest Interest rates online!

To begin the process please fill out the form to the right.

Low cost loans

About Five Star Mortgages

Low cost loans Are you ready to start scouring the market and searching for your dream home? Or, perhaps you are going to have your dream home built so it will have all of the features you have always wanted. Regardless of your situation, finding your dream home is half the battle. After all, once you have found the perfect place to buy, you need to determine how you are going to pay for that beautiful home!

With the help of FiveStarHomeMortgage which is conveniently located in New Jersey, the process of finding the right lender is made much simpler! Our professionals in our new jersey offices specialize in helping people just like you find the right type of mortgage loan to suit their needs. In addition, our goal is always to find the right program and the right lender to help you save money on your home purchase.

Mortgage Guide

With ARM loans, the amount of interest you pay will change according to the prime rate. This means your monthly payment will increase or decrease when the prime rate changes. The fixed interest loans, on the other hand, interest rate on these loans stays the same throughout the lifetime of the loan, which generally lasts anywhere from 15 to 30 years. The interest rate you receive is determined by your credit score as well as other factors taken into consideration at the time of the loan.

Bailout loans help you avoid foreclosure if you haven’t been able to pay your mortgage for 120 days, you can talk to your agency more about these type of issues. If you are building your home, on the other hand, a construction mortgage will allow you to access portions of your loan throughout the building process so you can keep your contractors paid. Rehab mortgages, on the other hand, are loans that are used to help purchase a “fixer upper” and also provide money to help with making the necessary repairs.

Low cost loans FHA and VA loans help veterans, people with disabilities, and people with low incomes acquire a home with mortgage terms they can afford. You can also save money in the beginning with interest only loans. With these loans, your monthly payment is applied only toward the interest. If you send more money, it is applied toward the principle and helps increase your equity. Rates on these loans are adjustable, which means your monthly payment can increase or decrease throughout the lifetime of the loan. The same is true with low down payment loans. These loans allow you to purchase a home even if you do not have the standard 20% down payment. Lenders will require PMI, which is an additional expense added to your monthly payment, when approving one of these loans.

If you have your own business, you might want a self-employment loan. These loans are used by people that are self-employed and may have difficulty with proving a steady income. No doc loans are also good for business owners as well as others with special circumstances. These loans require little documentation, which means you do not have to prove your income or the amount of debt you are currently carrying. Rates on these loans tend to be higher than standard mortgage loans.

If you are purchasing a home that is quite expensive, you might get a jumbo loan. These loans are given to homebuyers that are purchasing homes that are over $417,000. Similarly, if you need to get your hands on some more money, you might choose to refinance or to get an equity loan. These loans are used to access equity built in the home or to refinance the home in order to take advantage of better terms.

Whether you own a business, have perfect/excellent, good, fair, or poor credit or are looking to fix up a home that is need of repair, FiveStarHomeMortgage can help you find the loan that best suits your needs. Our professionals will work closely with you in order to find the type of loan and the lender that helps you get the loan you need so you can finally purchase the home of your dreams. Contact us today to learn more about how we can help!

Copyright 2009-2010 Five Star. All Rights Reserved.


Cost of a Payday Loan – Consumer Information and Prices Paid. #car #note #calculator


#cheap payday loans
#

How Much Does a Payday Loan Cost?

Annual Percentage Rate: 300%-500%+

Also called a paycheck advance, a payday loan lets an employed person borrow a relatively small amount of cash for a short period of time (typically two weeks), to cover expenses until the next payday. The Federal Trade Commission has issued a consumer alert[1 ] calling payday loans “very costly cash” and suggesting alternatives.

Typical costs:

  • Amounts borrowed vary from $100-$1,500, but most payday loans are for $100-$500. Fees are typically $15-$30 per $100 borrowed (or 15%-30%, if the payday loan company charges interest rather than flat fees).
  • For example, to borrow $300 with a fee of $15 per $100, the borrower writes a personal check for $345 (the amount of the loan plus the fee) and receives $300 in cash. The payday lender holds the check until an agreed-upon date, typically up to two weeks. On that date either the borrower gives the lender $345 in cash and gets the personal check back, or the lender deposits the check its checking account and the money is taken out of the borrower’s checking account. In some cases the money is transferred electronically by the lender, rather than depositing a paper check. Whichever way it’s done, the loan and fee are paid in full.
  • However, a borrower who isn’t able to repay the entire amount of loan and fee can choose to pay another $45 fee to “roll over” the personal check for an additional two weeks. If it’s difficult to pay off the entire loan, fees for extending the loan every two weeks add up quickly.
  • Because state laws vary, payday lending fees are different in each state. For example, Check Into Cash charges $10 per $100 borrowed in Oregon; $17.50 per $100 in California and Alabama; $20 in Colorado; $24 in Nevada; and $30 per $100 in Delaware.

What should be included:

  • Payday loans are fast (typically approved in one or a few hours, and almost all go through within 24 hours) and relatively easy to obtain. No credit check or collateral is required, and the loan amounts are usually far smaller than those typically available through banks, credit unions or other lenders. Usually the borrower needs to show a photo ID and proof of employment or income (pay stubs and/or bank statements), and must have a personal checking account. Payday lenders rarely turn down an applicant who a job, ID and checking account.
  • Many payday lenders offer loans online, 24 hours a day, with supporting documents faxed to the lending company. The loan amount is transferred by a direct deposit into the borrower’s checking account and on the due date the loan and fee amount are withdrawn electronically.
  • Payday loans are for such short periods of time that many borrowers are not able to repay the debt and must roll it forward. Annual percentage rates on these loans work out to 300%-500% or more, and payday loans can be a short-term solution to what may be long-term financial problems, Consumer advocates allege that a few payday loan companies have used unscrupulous, unethical and even illegal means to collect unpaid loan amounts.
  • The Center for Responsible Lending charges that payday loans lock borrowers into a debt trap[2 ]. The center provides an example[3 ] of a consumer who borrows $300 with a $50 fee and rolls the loan forward nine times (the average per year per borrower), paying $450 in fees while still owing the original $300 loan amount. However, the Community Financial Services Association, a trade organization that represents the interests of the payday lending companies, asserts that such charges are myths.
  • Payday loans or paycheck advances are illegal in some states, and other states limit the maximum loan amount. Credit.com summarizes payday loan regulations[4 ] by state.

Related Costs: Line of Credit. Credit Card. Credit Report

Additional costs:

  • If a borrower doesn’t have enough money in his or her checking account when the lender deposits the personal check, the borrower will be charged bounced check fees (typically $20-$40 per check) by the bank and by the payday lending company.

Shopping for a payday loan:

  • Payday loan and paycheck advance companies advertise heavily in all media — radio, television and online. If a payday loan appears to be the best way to cope with unexpected expenses, Community Financial Services Association of America[5 ]. the payday lending organization, suggests choosing a lender who follows its code of best lending practices[6 ] .
  • The Consumer Federation of America offers consumer help[7 ]. suggesting ways to cope with a cash-flow gap[8 ] without borrowing.

What People Are Paying – Recent Comments

Subject: * Amount Spent: * Lending Company: Comments: Purchased (Month): Purchased (Year): City: * State: * Information about you:

Email: * Email addresses are not displayed. Name: This is the name we’ll display with your post. Remember me *=required field.


UK Loans – Low Cost Loans Online #personal #loan #companies


#cheapest loans
#

Compare UK Loans Available Today

  • Loans UK

Loan deals matching your requirements, available now.

  • Loans For Any Purpose
    Find a loan that matches your need for borrowing.
    • No Obligation To Accept

      You may decline the loan quote you receive with no risk. 100% Secure And Confidential

      We are registered under the Data Protection Act 1998.

    Low cost loan deals that come with no obligation. Apply online now!

    We never ask or charge any loan processing fee. Beware: Don’t lose your money: it’s SCAM if anyone asks you for loan fee or instalment by Ukash, cash u vouchers, Western Unions or credit card.

    Our TYPICAL APR is 13.8% (variable). This means 66% of our customers get their secured loan at this rate or better.

    Unsecured loans are available from Ј1,000 to Ј25,000.

    Representative 12.6% APR variable.

    Representative Example: If you borrow Ј11,000 over 6 years at an annual rate of 8.9% (variable) you will repay Ј230.63 per month & total amount payable Ј16,605.36.

    Gopher Money are a credit broker, a broker fee of up to 12.5% will be added to secured loans.

    Loans may be secured on your home. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayment on a mortgage or any other debts secured on it.

    If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

    Loans can be taken out for a variety of reasons and comparing the market is an efficient way to borrow, obtaining a suitable loan can give you the the financial help you require and the monthly repayments could be smaller than expected. Debt consolidation loans are the most common form of borrowing however you can get a loan for any purpose. Lenders offering online loans may include clauses which could increase the cost of borrowing and turn the deal in to a very expensive option, we compare reputable UK loan lenders to ensure you get a fair deal.

    Our aim is to cater for your financial needs, it does not matter whether you have a good or bad credit history, if you need to borrow money then let us help you find a loan offer that is suited to your personal circumstances. It’s easy, fast, risk-free and you’re under no obligation to accept at any point in the process.

    Loans for any purpose come as either unsecured loans or secured loans, the former is a popular choice for people who are looking for smaller loans, for example between Ј1000 and Ј15000, many borrowers prefer to use a loan for debt consolidation which reduces overall monthly repayments and makes your finances easier to organise, debt consolidation loans enable you to pay off multiple small existing debts and potentially lower the average interest rate on your finance. Unsecured loans are also popular with tenants who do not have a property to use as security.

    Secured loans are financial products which work by securing the loan with an asset, commonly your house or any property with existing equity.

    Secured loans are popular with people who want to borrow money with a potentially lower interest rate, due to the size of the loan and the fact it is a guaranteed loan because of your house you will find UK lenders are more willing to lower the monthly repayments and allow you to borrow over a longer period of time such as 10 or 20 years.

    Complete the form above and start looking for a great loan deal, you will then receive a no obligation loan offer from a fully registered and compliant broker who can answer any questions you have.

    A debt consolidation loan will help lower your total monthly outgoings. Taking out a larger UK loan from a single lender means that you will be able to pay off all outstanding finance agreements with other lenders and concentrate solely on paying your new debt consolidation or secured homeowner loan off.

    a1-loansdirect.co.uk is a trading name of Gopher Money Limited. Company Registration: 04925788 | Gopher Money Ltd is a licensed credit brokerage authorised and regulated by the Financial Conduct Authority: 549562 Company Registration: 04925788 | Data Protection: Z1620786


    Low Cost Loans #loan #modification #programs


    #cheap loans for bad credit
    #

    Homeowner loans

    10,000 – 150,000

    THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

    Secured loans. Rates start from 7.3% APR. We also offer a range of products with rates up to 26% APR, which allows us to help people with a range of credit profiles. 15.3 APR typical variable.

    Unsecured loans. 49.9% APR Representative

    Find a low cost loan with Ocean

    If you’ve applied for loans on the high street and been rejected, you might be despairing at ever getting accepted for a low cost loan. Get your loan quote from Ocean today. Whether you need a loan to make some changes to you home, to make a big purchase, or even to consolidate your debts, we may be able to help. All quotes are no obligation and won’t affect your credit rating.

    You can borrow £10,000 to £150,000 over 5 to 25 years with a homeowner loan. or £2,000 to £5,000 over 2 to 4 years with a personal loan. Use our clever loan calculator to find out how much, approximately, your monthly repayments will be – simply enter a few details, such as how much you want to borrow, and how long for.

    How do I get a low interest rate on my loan?

    What determines a low interest rate at any given time will depend on the loans market and your personal circumstances. Generally, the interest rate will be affected by the current Bank of England base rate, the availability of credit in the market, and the demand for loans at any given time.

    Your individual circumstances play a big part in the rate you’re offered. A low cost loan for somebody with a perfect credit history is likely to be cheaper than a low cost loan for a borrower with a less than perfect credit history. Here at Ocean, we have specific loans to help people with different credit profiles, and have competitive low-cost loans for people with good and fair credit ratings.

    Ocean also have access to loans designed for people with a bad credit rating, who may find it more difficult obtaining a loan elsewhere. Even if you have a bad credit rating, we’ll do our best to find you a good deal.

    Why Ocean?

    Applying for a loan with Ocean is really quick and easy. Use our loan calculator to find out how much your monthly repayments might be, by simply giving us a few details – such as how much you’d like to borrow and how long for.

    • Borrow from £10,000 to £150,000
    • Our search won’t affect your credit rating
    • We treat everyone as an individual, no matter what your circumstances, and if we can help, we will – whether you’ve poor credit or are self-employed
    • No up-front fees

    15.3% APR typical variable. 2 out of 3 customers will receive this rate or lower. Ocean Finance arranges secured loans from a panel of lenders. Ocean will receive a commission from the lender upon completion. A fee of 12.5% of the net loan amount, capped at £2975, is payable upon completion. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

    Unsecured loans 49.9% APR Representative. Ocean is part of Intelligent Lending Limited. We are a broker for the Ocean personal loan. R Raphael & Sons Plc are the lender. We will not charge you for arranging your personal loan but, if your application completes, the lender will pay us for our services.

    Based on Feefo.com reviews – 99% of customers who left an Ocean Finance review recommend us with an average rating of 4.9 out of 5 from 469 reviews left by Ocean Finance customers (as of Nov, 2015)


    How a No Cost Refinance Loan Really Works #unsecured #loan #rates


    #no fee loans
    #

    How a No Cost Refinance Loan Really Works

    You may have seen ads for a “no cost refi” loan lately, a mortgage program that promises no fees or out-of-pocket expenses when you refinance your existing mortgage.

    While this type of offer is by no means a new concept, it’s definitely a subject worth visiting to ensure people understand what they’re getting when they choose a no cost refinance option.

    What Is a No Cost Refinance?

    A no cost refinance is essentially a loan transaction in which the lender or broker pays settlement costs, including typical lender fees such as processing and underwriting fees, the appraisal fee, and loan origination points. along with third party costs like title/escrow fees and so on.

    You may be asking yourself how banks and lenders make up for the absence of fees that normally must be paid during a refinance (or purchase) transaction.

    Well, assuming the lender actually pays your closings costs, doing so will bump up your interest rate, sometimes dramatically, in order to make up for the missing fees that are typically charged at closing.

    No Cost Loan  = Higher Mortgage Rate

    It s a simple trade pay nothing now, but pay more over the life of the loan in the form of a higher mortgage rate .

    For some borrowers, a no cost loan is a necessity because they don t have the required funds to pay all the fees at closing, but for others it s a decision that will need to be made during the loan process.

    Keep in mind that mortgage brokers can also set up a no cost loan for you, adjusting their yield-spread premium (commission) to the point where they make enough money to offset the fees associated with the loan.  *This is now accomplished by using a lender credit .

    Tip: The terms of no cost loans will vary by lender. Some programs may cover ALL closing costs, while others may still charge you for certain third-party fees such as appraisal/inspection, title, escrow, and even mortgage points !  Be sure to pay attention to what fees are and are not covered.

    For example, if a bank advertises a no lender fees loan, they will expect you to pay for third-party fees, along with property taxes, prepaid interest, and insurance.  Regardless, you can still attempt to negotiate a lower rate whether it s no cost or no fee.

    Let’s look at an example of a typical no cost refinance program:

    No cost refinance: 6.5% mortgage rate, NO fees.

    Standard refinance: 6% mortgage rate, $7,500 in fees.

    Imagine you’re able to qualify for a mortgage at an interest rate of 6% on a $500,000 loan, paying a point to the lender and another $2,500 in closing costs, totaling $7,500. While this may seem like a large upfront cost, the trade-off should be a lower interest rate.

    With a typical no cost mortgage, you’ll cruise through the process without paying a dime at closing, but you may end up with an interest rate of 6.5% or higher for the very same loan.

    Assuming you make the interest-only payment each month, you’ll pay an additional $200 a month, or roughly $2,400 more annually if you select the no cost option at an interest rate of 6.5%.

    As you can see, it s a case of pay less now, but a lot more over time.  You re basically financing the costs you didn t pay at closing, which will be more expensive in the long run.

    Is a No Cost Refinance a Good Idea?

    This is the point where you need to ask yourself what you plan to do with the property and the mortgage.

    If you’re planning on moving or upgrading to a more expensive home in just a few years, or if you’re the type who refinances often, paying upfront costs for a lower interest rate will probably be a losing endeavor. For you, a no cost loan may actually be a good choice.

    After all, there s no reason you should pay for a lower interest rate if you re only going to turn around and sell/refinance a few months/years later.  You ll never realize the savings!

    But if you plan to stay in the home for five or more years (or whenever the break-even point takes place), it would make sense to pay a little more upfront for future savings.  Why?  Well, that $200 discount each month might ease your budgeting woes in the future, and amount to some serious savings if you stick with the mortgage for the long haul.

    Remember, no cost loans aren’t inherently good or bad. They aren t a scam and they aren t magic.  The money is either paid upfront or over time.  Their associated benefit or cost will really depend on your unique financial situation, what the fees are, and what the interest rate impact will be.  Make sure you do the math and compare options before signing on the dotted line.

    Also watch out for banks that bundle your closing costs on top of your loan amount, increasing the size of your loan, effectively making it a “no-cash loan.

    Though you may avoid out-of-pocket expenses and upfront fees, these costs are not lender-paid, and the loan is not a true no cost loan.  You simply pay the fees over the life of the loan instead of at closing.  And you re stuck with a higher loan amount to boot!  Not necessarily a great deal.

    For the record, you can also get a no cost loan for a home purchase, though it might take a combination of a lender credit, a credit from your real estate agent, and seller concessions to make it all work.

    Lastly, don t forget to negotiate .  It might be best to ask the lender what their best rate is, then tell them you want a no cost option as well.  That way you can see what the difference is without showing your hand.  If you tell them you want the loan at no cost, you may never know how low the rate could have been.


    Cost of a Payday Loan – Consumer Information and Prices Paid. #installment #loans #no #credit #check


    #cheap payday loans
    #

    How Much Does a Payday Loan Cost?

    Annual Percentage Rate: 300%-500%+

    Also called a paycheck advance, a payday loan lets an employed person borrow a relatively small amount of cash for a short period of time (typically two weeks), to cover expenses until the next payday. The Federal Trade Commission has issued a consumer alert[1 ] calling payday loans “very costly cash” and suggesting alternatives.

    Typical costs:

    • Amounts borrowed vary from $100-$1,500, but most payday loans are for $100-$500. Fees are typically $15-$30 per $100 borrowed (or 15%-30%, if the payday loan company charges interest rather than flat fees).
    • For example, to borrow $300 with a fee of $15 per $100, the borrower writes a personal check for $345 (the amount of the loan plus the fee) and receives $300 in cash. The payday lender holds the check until an agreed-upon date, typically up to two weeks. On that date either the borrower gives the lender $345 in cash and gets the personal check back, or the lender deposits the check its checking account and the money is taken out of the borrower’s checking account. In some cases the money is transferred electronically by the lender, rather than depositing a paper check. Whichever way it’s done, the loan and fee are paid in full.
    • However, a borrower who isn’t able to repay the entire amount of loan and fee can choose to pay another $45 fee to “roll over” the personal check for an additional two weeks. If it’s difficult to pay off the entire loan, fees for extending the loan every two weeks add up quickly.
    • Because state laws vary, payday lending fees are different in each state. For example, Check Into Cash charges $10 per $100 borrowed in Oregon; $17.50 per $100 in California and Alabama; $20 in Colorado; $24 in Nevada; and $30 per $100 in Delaware.

    What should be included:

    • Payday loans are fast (typically approved in one or a few hours, and almost all go through within 24 hours) and relatively easy to obtain. No credit check or collateral is required, and the loan amounts are usually far smaller than those typically available through banks, credit unions or other lenders. Usually the borrower needs to show a photo ID and proof of employment or income (pay stubs and/or bank statements), and must have a personal checking account. Payday lenders rarely turn down an applicant who a job, ID and checking account.
    • Many payday lenders offer loans online, 24 hours a day, with supporting documents faxed to the lending company. The loan amount is transferred by a direct deposit into the borrower’s checking account and on the due date the loan and fee amount are withdrawn electronically.
    • Payday loans are for such short periods of time that many borrowers are not able to repay the debt and must roll it forward. Annual percentage rates on these loans work out to 300%-500% or more, and payday loans can be a short-term solution to what may be long-term financial problems, Consumer advocates allege that a few payday loan companies have used unscrupulous, unethical and even illegal means to collect unpaid loan amounts.
    • The Center for Responsible Lending charges that payday loans lock borrowers into a debt trap[2 ]. The center provides an example[3 ] of a consumer who borrows $300 with a $50 fee and rolls the loan forward nine times (the average per year per borrower), paying $450 in fees while still owing the original $300 loan amount. However, the Community Financial Services Association, a trade organization that represents the interests of the payday lending companies, asserts that such charges are myths.
    • Payday loans or paycheck advances are illegal in some states, and other states limit the maximum loan amount. Credit.com summarizes payday loan regulations[4 ] by state.

    Related Costs: Line of Credit. Credit Card. Credit Report

    Additional costs:

    • If a borrower doesn’t have enough money in his or her checking account when the lender deposits the personal check, the borrower will be charged bounced check fees (typically $20-$40 per check) by the bank and by the payday lending company.

    Shopping for a payday loan:

    • Payday loan and paycheck advance companies advertise heavily in all media — radio, television and online. If a payday loan appears to be the best way to cope with unexpected expenses, Community Financial Services Association of America[5 ]. the payday lending organization, suggests choosing a lender who follows its code of best lending practices[6 ] .
    • The Consumer Federation of America offers consumer help[7 ]. suggesting ways to cope with a cash-flow gap[8 ] without borrowing.

    What People Are Paying – Recent Comments

    Subject: * Amount Spent: * Lending Company: Comments: Purchased (Month): Purchased (Year): City: * State: * Information about you:

    Email: * Email addresses are not displayed. Name: This is the name we’ll display with your post. Remember me *=required field.


    When Can You Claim a Tax Deduction for Health Insurance? #tax, #taxes, #turbotax, #turbotaxhealth, #national #insurance #awareness #day, #health #insurance, #compare #insurance #rates, #health #care, #medical #expense #deduction, #premiums, #insurance #coverage, #affordable #cost, #tax #deduction, #tax #deductible, #subsidy, #premium #tax #credit


    #

    When Can You Claim a Tax Deduction for Health Insurance?

    Each year, June 28 marks National Insurance Awareness Day, serving as a reminder that it’s a good time to review your insurance coverage and ensure that it still fits your needs.

    This is particularly true for health insurance and making sure you have the right amount of coverage at an affordable cost.

    Health insurance can be expensive, so being able to claim a tax deduction for some of your insurance costs can help you save come tax time.

    Since there are specific rules and qualifications you must follow, here’s an overview of when you can and cannot claim a tax deduction on your health insurance.

    When health insurance is not tax-deductible

    If you didn’t pay for health insurance, you can’t take a tax deduction for it. If your employer pays your health insurance premiums, you can’t deduct those costs. However, if an employer only pays for part of your premiums, you still may be able to claim a tax deduction for the portion you paid.

    If you received a subsidy or premium tax credit to purchase an insurance plan in the Health Insurance Marketplace through the Affordable Care Act, any advanced-payment subsidy that lowered the cost of your health insurance premiums cannot be claimed as a tax deduction. However, the money you paid out of your own pocket for your premiums might be tax deductible.

    You can’t take a deduction for health insurance you paid for with pre-tax money. If you have insurance through your employer, the premiums you pay are usually taken out of your paycheck before your income taxes are calculated. Since these premiums are paid with pre-tax dollars, they’re already income-tax-free, meaning you can’t claim them as a tax deduction.

    Also note, you can not deduct health insurance unless you itemize your tax deductions or you are self-employed. You don t need to know if you qualify for itemized tax deductions, TurboTax will figure it out for you.

    When health insurance is tax-deductible

    If you’re self-employed, your health insurance premiums may be tax deductible. If you’re self-employed and not eligible for an employer-sponsored health plan through a spouse’s job, you may be eligible to write-off your health insurance premiums on your taxes. However, you can’t write off more in health insurance premiums than you earned.

    Health insurance premiums paid with your own after-tax dollars are tax deductible. For example, if you purchased health insurance on your own through a health insurance exchange or directly from an insurance company, the money you paid toward your monthly premiums can be taken as a tax deduction.

    Some Medicare plans are tax deductible. This includes Medicare Part B and Part D prescription coverage.

    There are limits to the amount of your health insurance you can deduct. If you are able to write-off your health insurance, there are limits to how much of your premiums you can write off.

    If you’re able to claim your health insurance as a medical expense deduction. you can only deduct medical expenses that exceed 10% of your adjusted gross income (7.5% if you’re 65 or older). If you’re self-employed and claimed the self-employed health insurance deduction, you don’t have to exceed the 10% threshold because you’re writing the premiums off as an adjustment to your self-employment income rather than as a tax deduction deduction.

    As with all tax laws, TurboTax is up-to-date with the latest tax law changes. If you have more questions about the Affordable Care Act and how it impacts you and your taxes, you can get answers from TurboTax Health .

    Post navigation


    Solar Power & Solar Panels Guide, MoneySuperMarket, how much money does it cost to install solar panels.#How #much #money #does #it #cost #to #install #solar #panels


    #

    Solar Power

    We compare prices from every energy supplier in England, Scotland and Wales to help lower your fuel bills

    How much money does it cost to install solar panels

    Solar Power

    Solar panels can cut your energy bills, and pay you for producing electricity, which makes them an appealing option if your energy costs are going up. But before paying thousands to install solar panels, consider whether your property is suitable, and whether they’ll really cut your bills.

    How much money does it cost to install solar panels

    How solar panels work

    Solar panels harness the sun’s energy through photovoltaic cells. The cells convert sunlight into electricity. You don’t need direct sunlight for the panels to work, as they still generate some power on an overcast day.

    • Cut your carbon footprint – the panels are environmentally friendly, as solar electricity doesn’t release harmful carbon dioxide (CO2) and other pollutants into the atmosphere.
    • Renewable and sustainable – you can’t run out of this type of power.
    • Cut energy costs – sunlight doesn’t cost a penny, once you’ve paid for the panels to be installed.
    • Financial support – solar panels are eligible for Feed-in Tariffs. You earn money for each kWh of electricity you generate, and you get an additional payment for the electricity you export back into the grid.
    • The initial cost – this can be expensive, at thousands of pounds, unless you’re eligible for financial help towards the cost.
    • Dependent on weather – solar panels still produce power on a cloudy day, but the weather may influence how well they work.
    • Your property might not be suitable – you need a roof that’s big enough to fit the panels, and produce enough power. Ideally, your home should also be south-facing. Listed buildings are unlikely to be allowed to install solar panels.
    • Effort – there is a big initial outlay, and building work is required. This will put many people off, when energy is available simply from a range of suppliers.

    Call your local Energy Saving Trust Advice Centre on 0800 512 012 for more information on solar panels.

    The cost of solar panels

    The average 4kWp solar panel system costs around 5,000- 8,000 to install, according to the Energy Saving Trust.

    This can generate around 3,800 kWh of electricity a year, and save around two tonnes of carbon dioxide every year. However, costs vary widely between installers – so get several quotes.

    Before spending thousands installing a system, make sure it’s worthwhile. Check if other energy saving measures could save more, such as switching suppliers, loft or wall insulation.

    Your home must reach band D or higher in the Energy Performance Certificate to be eligible for the highest rate of Feed-in Tariff.

    If you’re unable to install solar panels or you decide against it, cut energy costs by comparing tariffs and switching to a cheaper deal. Make sure you’re on the most competitive tariff, particularly given the rising cost of energy.

    Fitting solar panels

    Tell your buildings insurer: The panels will form part of your home’s structure. This means your insurance could get more expensive, if your insurer decides you need a higher level of cover, particularly if the house needs rebuilding and the panels need replacing.

    Consider separate insurance: Your home insurance won’t guard against any mechanical fault in the panels. If they stop working, check if they’re under warranty. You may need to insure them separately.

    Check the provider: Look out for the REAL Assurance and Microgeneration Certification Schemes (MCS), ensuring you can trust the company. The MCS mark shows that the installer offers high-quality products, while the REAL Assurance Scheme is a consumer code that offers protection.

    How much money does it cost to install solar panels

    Can I compare energy prices if I am on a prepayment meter?

    If you use a prepayment meter, you can still compare energy prices and potentially switch to another cheaper prepayment deal.

    If you are on a prepayment meter, you could switch to a fixed-rate deal and save.

    You can compare your current prepayment tariff to alternative tariff options using our energy comparison tool.


    Actual Cash Value, Repair Cost Estimate, Total Loss Threshold #car #value, #repair #cost #estimate


    #

    Car Value

    3 figures every consumer needs to be familiar with after an accident:
    1. Actual Cash Value (ACV) $$$ your insurer will pay for your vehicle when it is totaled. Insurance settlements are typically insufficient to replace your car with a vehicle of like kind and quality. Insurers pay you the depreciated value of your vehicle, forcing you to come out of pocket to get a new car. All insurers have a different methodology for this and some are more generous than others. You will have to arm yourself with the best information available to defend your position and make a case for the maximum settlement. Remember, you get what you NEGOTIATE, not what you DESERVE!
    2. Repair Cost (estimate) The key driver in the total loss decision process. The total cost of the repair, as a percentage of the Retail Value will determine what flexibility an insurance carrier has in qualifying your vehicle as total loss or repair.
    3. Total Loss Threshold (Click here ) – Repair Cost as a % of Actual Cash Value – the lower this figure is, the more likely your vehicle is to be totaled.

    You can obtain an electronic copy of the vehicle repair estimate from your insurance adjuster or insurance claims center. Your claim number will be assigned when you report your accident to the carrier and you will most likely be given an alternate telephone number to call for updates. The body shop where the vehicle is located may not be at liberty to release a copy of your repair estimate so it is best to go directly to your insurance carrier provided you have insurance coverage. Always get the estimate emailed to you so that images can be viewed, expanded and retained for future reference in the event of a legal dispute.

    Example #1:

    Your Vehicle s Retail Value
    $10,000
    Repair Estimate
    $6,800
    Total Loss Threshold in your state
    60%

    In the example above, the vehicle should be a total loss. If the repair estimate is below the threshold, but close to it the insurance carrier may total the vehicle at the adjusters discretion. Another factor influencing the total loss is the Supplemental Repair Order Process. It is fairly typical for most body shops to begin a repair and find hidden damage or repairs that are not accounted for on the estimate. The body shop will have to request that those repairs be covered in a Supplemental Repair Order. Some insurance carriers experience Supplemental Repair Orders submitted on 40% of the vehicles they repair. The industry standard is close to 30%.

    Example #2:

    Your Vehicle s Retail Value
    $10,000
    Repair Estimate
    $4,800
    Total Loss Threshold in your state
    60%
    Supplemental Repair Estimate
    $1,350

    The sum of the estimates is now $6,150, which exceeds the State Total Loss Threshold and the vehicle must be totaled to conform to state law. In this scenario, the insurance carrier is also responsible for the partial repairs to the vehicle (tear-down charges) which result in unnecessary added expenses had the insurance carrier decided to total the vehicle initially.

    In summary, insurance carriers will look carefully at the repair costs as a percentage of the vehicle retail value (ACV), but will err conservatively to account for supplemental repairs that could put the vehicle over the total loss threshold. If your goal is to have your vehicle totaled, the supplemental estimate angle is a very legitimate one that can be used for leverage in negotiating with your claims adjuster.

    How to get more for your total loss?

    Go to all the following Automotive Guidebook Sites:

    NADA.com
    BlackBook.com
    KBB.com
    Edmunds.com

    NADA and BlackBook are the most widely recognized by insurance carriers and in our opinion the most accurate. ALWAYS enter your VIN, it will insure against mistakes that will impact your final vehicle value.

    Before you research values, have the following:

    • VIN
    • EXACT MILEAGE
    • List of all added equipment

    Don t: estimate or try to remember the mileage if the vehicle is not with you. Use the last repair receipt (oil change). If you can t find anything with the exact mileage, be prepared to adjust your thinking along with the same rate that the guidebooks will adjust your vehicle value. We typically see a 10-12% error rate when people guess the miles on their vehicle. This could cost you several hundred dollars of adjustment on a total loss settlement.

    Do: be honest with yourself if your vehicle is CLEAN, the insurance adjuster will see it was clean and agree. If you say it was clean, that does not mean, washed before you wrecked it! CLEAN means very well maintained, spotless interior, flawless exterior and excellent mechanical working order.

    2006 Nissan Altima-4 Cyl. Price

    DamageMAX experts hear all the time from insurance personnel that they consistently lose legal disputes over total loss settlements when the consumer uses BlackBook or NADA to challenge a claim. Stand your ground if you have a guidebook that substantiates any attempt to short or underpay a total loss claim.

    Other items:

    Mechanical repairs while your insurance carrier may give you a pro-rated adjustment for items like new tires, a rebuilt transmission, etc. Guidebooks do not. These items are generally required for the vehicle to be in good working order and fall into the area of vehicle condition. Be prepared when you meet with your adjuster. Bring receipts for all recent maintenance items, repairs, upgrades, etc. Items like brakes are not generally pro-rated. The adjustment given for these items are usually of a conciliatory nature and not significant.

    Negotiating Remember, YOU are the customer. The policyholder. Insurance carriers spend $5.7 B per year in advertising trying to attract new policyholders, they lose on average almost 1 out of 2 (50%) after accidents due to claims handling. Let them know that you intend to stay if they treat you fairly and fairly is YOUR perception and opinion, not theirs. It is their job to make you FEEL like you have been treated fairly and most insurance adjustors lack the social skills to handle people. They follow a process and deviating from the process makes them uneasy and they resist. If you sense resistance, escalate your claim to a supervisor and you will be rewarded. Squeaky wheels get oiled!

    Diminished Value Claims there are provisions for diminished value in three states; GA, KS NC. That means the insurance carrier will be writing you a supplemental check specifically for diminished value after they settle your claim. Specific formulas are established for that purpose in each state. The adjuster will generally not initiate any discussion and will dismiss this topic as non-negotiable and formula driven by state legislation. Ask and you shall receive!

    How many people get a DIMINISHED VALUE ADJUSTMENT? Well I didn t! Because I didn t ask for one! Now if the vehicle is a total loss, diminished value is kind of a moot point. But if it gets repaired and the accident was not your fault, you should be compensated. If there is any doubt in your mind that if any reported accident will have an impact on your vehicles value, go to www.carfax.com and under ABOUT US you can find out what they specifically report on. This was taken from their site:

    Every CARFAX Report contains information that can impact a consumer’s decision about a used vehicle. Some types of information that a CARFAX Report may include are:

    • Title information, including salvaged or junked titles
    • Flood damage history
    • Total loss accident history
    • Odometer readings
    • Lemon history
    • Number of owners
    • Accident indicators, such as airbag deployments
    • State emissions inspection results
    • Service records
    • Vehicle use (taxi, rental, lease, etc.)
      CARFAX receives information from more than 34,000 data sources including every U.S. and Canadian provincial motor vehicle agency plus many auto auctions, fire and police departments, collision repair facilities, fleet management and rental agencies, and more.

    READ the above AGAIN carefully Every CARFAX Report contains information that can impact a consumer’s decision about a used vehicle

    This translates to what we report will have an impact on who looks at your vehicle . This will unequivocally have a financial impact on YOUR vehicles value when you go to trade or sell the vehicle. All franchised and independent auto dealers in the USA try to avoid trading vehicles with accident history because it complicates the sales process with damage disclosures, thereby increasing liability.

    Think of it this way what consumer goes to a dealer intending to buy a car that has been in an accident?

    CARFAX has successfully capitalized on insurance company data sources, motor vehicle and municipal data sources. The information from your accident can and will be shared and will be attached to your vehicle s history FOREVER.

    Get paid for the diminished value up front by your insurance company! Fight for it now because you will give it up later