General Finance, Secured Loans, Unsecured Loans, Debt Consolidation etc.

Can I Get a Loan With Bad Credit?

2010-02-22T20:07:00.000Z

credit rating. There are a myriad of different reasons why you may have bad credit. All sorts of financial problems can lower your credit rating; missing payments on an existing loan, loosing your job, mortgage arrears, sudden unfoseen expenses etc. You're not alone if you've recently fallen into bad credit due to the current recession. We're all suffering a strain on our finances. The good news is that even with extremely bad credit you can still qualify for several types of loan.

Despite your bad credit it's first worth checking to see if you qualify for a more traditional mainstream loan rather than a bad credit loan as they will have lower interest rates and better financing terms. Some loans will be better than others, depending on your financial history.

If you find that you don't qualify for a more mainstream loan, then all is not lost. A personal loan and a payday loan are two types of loans that you can get even with bad credit. Of course, the interest rates will be a little higher and the terms of the loan may be a little stricter but neither will be extortionate. The lender is essentially charging a little more for the increased risk he's taking in accepting your bad credit.

Secured Loans
Now a personal loan can be both secured or unsecured. If you have bad credit and you're looking to borrow a larger amount then a secured loan is your best option. You will need collateral, usually property, on which the lender can secure your loan. Because the lender will not be in any sort of financial danger with a secured loan, the interest rates will be lower and the payment schedule and other terms of the loan may be more flexible. The money available to borrow through a secured loan ranges from between £1,000 to £100,000.

If you don't like the idea of putting your property on the line or you simply don't have any collateral to offer then a secured loan is not for you.

Unsecured Loans
Unsecured loans are your other option, they're easy to get but the interest rates will be a little higher and the financing terms stricter. The amount available to borrow is also lower than with a secured loan but if you don't need anything above £50,000 then you're fine. Unsecured loans are available from between £500 to £50,000.

Payday Loans
A third option is the payday loan, which is basically a cash advance on your wage. A payday loan is generally used in a cash emergency when something unexpected has popped up and left you financial short. You will need to provide proof of a monthly income to qualify for a payday loan. You will also need to prove that you have been at your current residence for a time.

However, payday loans do not require collateral, they're very short term, usually less than a month and consequently have a much higher interest rate than the other types of loan mentioned above. The loan amounts available range from £80 to £1,000.

Whichever loan option you choose, whether it be secured, unsecured or payday simply making your loan repayments on time and in full will improve your credit rating and as long as you continue those repayments you could switch your loan at a later date for a new loan with a better interest rate based on your now improved credit rating.

If you're looking for a loan with bad credit Quick And Easy Loans can help, we search 90%+ of the loan market for the lowest rates and best deals available to you. We offer a quick application with no obligation and we can help you with a secured, unsecured and payday loan whether you have bad credit or not. Get your Quick Loan here now.

Consolidate Your Debt With a Secured Home Loan

2009-03-03T21:13:00.001Z

With the world's financial markets in complete chaos, it's a very good time to look at consolidating your debt with a secured home loan. Things are bad and they are expected to get worse before they get better.

Now is the perfect time to take all that credit card debt and any other personal loans you may have and clear them all with a single secured home loan. It makes sense financially and it will provide better piece of mind as well. The last thing you need in your life is more stress.

Secured Home Loans Have Lower Interest Rates

A low rate secured home loan will allow you to consolidate everything into one easy and convenient monthly payment, almost always at a much lower rate than your other debts. Over time the savings in interest can add up to some serious money. Why throw all that money away on interest payments, especially during these rocky financial times?

Secured loans are a great option and can mean the difference between weathering these hard times stress free or struggling needlessly to make your monthly payments. Most of the time these payments aren't even touching the principle. With a secured loan you are always paying some of the principle with your monthly payment.

Pay Less Each Month

You will be paying less each month, your debt will go down and you can stop 'barely scrapping by' by providing yourself with more financial 'elbowroom'.

Wouldn't that be refreshing! Making payments and not seeing your balance go down can be very demoralizing. A secured loan also offers a lower rate than an unsecured loan.

In addition to the savings offered by this type of loan, there is the convenience factor. Having only one payment a month instead of many, means you're not going to forget a payment and end up with a late charge. Better yet it allows you a more credible financial base to budget on. Since it's a fixed payment, you will always know what is due out each month, unlike variable debt instruments such as credit cards.

Think of how much easier it would be to only have one payment to make each month. The argument for a single secured home loan is an easy one to win. Once resolved to it, you will see how much easier your financial life can be in the face of these very tough economic times if you consolidate your debts and make one easy payment.

Improve Your Credit Rating

A secured loan can also help your credit rating. Lenders like to see fewer loans on your credit report, and for that matter loans with lower interest rates. It shows financial responsibility and will help you credit wise in the long run. Having a secured home loan shows your ability to recognize the smart way to weather a financial storm. There is really no downside to consolidating your debts with a secured home loan.

Why not start the ball rolling and consolidate your debt today with a secured home loan and get your finances out of harms way...

Quick & Easy Loans can help you with a low rate secured home loan. They search 90%+ of the UK secured loan market to find you the best loan deal. Whether you're looking to consolidate debt or finance for any other purpose we can help.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.

Repair Your Credit Rating With Bad Credit Loans

2008-08-09T17:20:00.000Z

There are a lot of different things you can do to get control over your financial situation. However, if you have let things slide for a while, it is likely that your credit rating has taken a bit of a dive as a result of that neglect.

Simply having bad credit can make things difficult for you – particularly if this bad credit is something which has followed you from your past. You can still get a loan though, even with bad credit. Credit which is less than spotless will not necessarily prevent you from getting a loan – there are even ways to use this fact to rebuild your credit rating.

Repairing Your Credit Rating

There are quite a few lenders who actually specialize in bad credit loans. Some will even guarantee a loan no matter what shape your credit rating is in.

Sound too good to be true? Well, to a certain extent it is. However, as long as you have the wherewithal to secure one of these bad credit loans, you will be eligible for one.

A bad credit loan does come with a higher rate of interest than a traditional bank loan. This higher interest rate reflects the increased level of risk undertaken by the lender in providing a loan to a borrower with a imperfect credit history.

However, despite the higher interest rates than loans which would be offered to borrowers with good credit, a bad credit loan can be invaluable in re-establishing your credit history. As long as you make your payments on time, it can go a long way towards improving your credit worthiness.

Bad credit loan providers report on your payment (or lack thereof) to the credit reporting bureaus, just as any other lender would. This can work in your favor as long as you are consistently on time with your loan payments.

A Bad Credit Loan Can Save You Money

As you can see, paying a bit of a premium to secure a bad credit loan can help you to repair your credit rating. Your credit rating will be rebuilt as you make your payments; meaning that you will be eligible to take out a loan with a more favorable interest rate in order to repay your bad credit loan.

Of course, it must be kept in mind that a failure to keep up with the payments on your bad credit loan will result in your credit situation being worse off than when you began.

You can apply for a bad credit loan here now. We search 350+ Lenders FREE to find you the best deal possible, at no obligation to you.

You will have to pay a little more in interest on a bad credit loan; but there are a lot of benefits to be had for your credit rating.

Without one of these loans, it will be much more difficult to return your credit rating to good health. A bad credit loan can be a great help in restoring your credit – you should give them some consideration next time you find yourself in a bit of a crunch, credit-wise. You can apply for these loans online, so all you need is your computer to begin getting a handle on your finances and take back control of your life.

A lot of people have a negative view of bad credit loans since they can be expensive; admittedly, they are expensive, with the interest rate being as much as twice that of other loans. However, this expense is well worth it if you can repair your credit rating and get more favorable loans later on.

About The Author
For a low rate bad credit loan try Quick And Easy Loans today. Relieve the pressure and claim back piece of mind now. Your financial future relies on it.

This article comes with reprint rights. Feel free to reprint it and distribute it as you like. All that we ask is that you do not make any changes, that this resource text is included and that the links above are intact.

Adverse Credit Loans An Overview

2008-01-14T16:13:00.000Z

Adverse credit loans are designed for homeowners with a bad credit history. There can be many reasons why a borrower has a bad credit rating, the circumstances of which aren’t always foreseeable such as redundancy or illness. Secured loans of this type are often the only option if you have an adverse credit history.

The loan is generally secured against the borrowers property, should the borrower consistently default on loan repayments the Lender has the right to repossess the property as payment in full of the loan amount.

As with any loan you can use the funds for a variety of reasons including debt consolidation, a new car, a holiday, home improvements etc. A little known side benefit of taking out an adverse credit loan is that it can be used to improve your credit rating, provided you make payments on time and consistently your credit rating will improve.

Debt consolidation can also have far reaching benefits. Consolidating your debts in to one easy monthly repayment each month will not only lower your outgoings but also improve your credit score and it could just be the first step towards a clean credit sheet.

Although the rate of interest on this type of loan can be higher than other types, it is often the only option for those with a bad credit history.

Finding a Lender online is the simplest way to go about finding a loan. Many loan brokers are taking their businesses online and stiff competition means some great deals are to be found. Of course it's also a great time saver as many Lenders will offer somekind of comparison service. Applying online could also mean you can be pre-approved within a matter of minutes.

Once approved in principal, applications are usually dealt with fairly quickly.

Though the loan repayment duration depends on the type of loan, usually short-term loans provide finance for the duration that suits your ability to repay and personal circumstances. You should be cautious of over stretching your budget on a steep repayment schedule for your loan. Don't be tempted to get a little bit more than you genuinely need.

If your adverse credit loan is for a purchase you wish to make you should consider whether you need to make the purchase now or whether you could delay it for a few months until you have sufficient funds available. However frightening the realisation of the true cost of your loan is, it is essential that you establish the total amount repayable on any personal loan, this figure can also then be used for any comparisons when you first begin your search for a loan.

Are you considering an Adverse Credit Loan? Quick and Easy Loans can offer you some of the lowest rates available in the UK.

This article comes with reprint rights. Feel free to reprint and distribute it as you like. All that we ask is that you do not make any changes, that this resource text is included, and that the links above are intact.

Consolidate Debt Loans - Secured Loan Or Unsecured Loan?

2007-12-29T17:32:00.000Z

Are you looking to restructure your existing debt and improve your financial situation? Then you may be considering consolidating your debt, if this is the case then loans are one of the first places to look, but they can be confusing. In this article we take a look at the different types of debt and loans and the best way you can borrow, depending on your circumstances.

Many people with debt seek debt consolidation loans to help them. These can be another, larger unsecured loan, or more commonly, a secured loan, a second mortgage or a re-mortgage. All of these options are valid, but it depends largely on your individual financial situation as to which option may best suit you.

A debt consolidation loan will help by putting all of your debt into one place, with one regular payment. If you are consolidating credit cards, store cards or other loans, it will lock in your rate and give you a specific time frame in which to make your repayment.

Unsecured Loans
An unsecured loan is that which does not require any kind of collateral or security such as property. They generally carry the highest interest rates because there is a greater risk to the Lender and they are usually a little more difficult to obtain than secured loans, because of the lack of collateral, but conversely, if you are applicable, you will receive the funds much faster.

Secured Loans
This is money that is borrowed by offering collateral against the value of the loan, such as property. The Lender has a claim on your collateral until the debt is paid in full. There is also a lower interest rate as the Lender has a guaranteed way of getting their money back should you default on your repayments.

This is usually the smartest way to borrow if you have the option. The rate will be significantly lower and it will be easier to qualify. If you are using property as security, another bonus is that it is possible to deduct the interest that you pay on the one from your taxes. This makes the interest work for you instead of against you.

Secured loans usually take a little more time to finalize because there is more paperwork involved. Where as an unsecured loan can take as little as two or three days, a traditional or mortgage can take a couple of weeks or a couple of months or more. You can however speed this process up considerably by supplying your Lender with all the required paperwork as soon as possible. If you are not in a hurry to consolidate your debts, the secured option is the cheaper route.

Conclusion
No matter which option you choose to consolidate your debts, you will undoubtedly save money in the long run. You will also have many benefits such as lower payments, less interest, a shorter term, possible tax advantages, the convenience of one payment and many others. Consolidating your debt will bring financial relief, as well as peace of mind knowing that your debts are taken care of.

Looking for Consolidate Debt Loans? Whether you decide to take up a Secured Loan UK or an Unsecured Loan, Quick & Easy Loans can help, we can also offer you some of the lowest loan rates available in the UK.

Your Quick And Easy UK Secured Loan Guide

2007-11-26T14:58:00.000Z

Secured loans are one of the best ways to obtain large amounts of money quickly. They're backed by personal property, usually a home and are therefore available to homeowners, with lenders offering the loan on a secured basis against the property.

Loan Security
Secured loans are typically easier to obtain than an unsecured loan because of the collateral involved. Collateral does come in various forms but the most common is your home, or other property you own.

Loans secured against property that is already mortgaged are known as second charges, where as loans secured against a property owned outright with no existing mortgage in place is known as a first charge. Loans are available for almost any purpose including debt consolidation, home improvements, holidays and car purchases.

Credit Scoring
Lenders frequently use credit scoring facilities and credit reference agencies to assess your suitability. If you are refused a loan or wish to make inquiries concerning your own credit file you can apply to the credit reference agencies for a copy of your credit file.

Credit reference agencies provide a detailed analysis of your financial position as they hold information relating to your credit history, any adverse credit and any existing commitments. They will look at your past credit history and take into consideration any adverse credit such as mortgage arrears, defaults or county court judgements.

Bad Credit doesn't mean you can't get a loan.

Bad Credit
Loans are available at reasonable rates even with a bad credit history, which means that you can enjoy lower repayment terms even if your have a tarnished credit history. CCJs and bad credit history need not be a problem when applying. Many Lenders are sympathetic to personal loan requirements whatever they may be, good or bad credit history, employed or self employed.

It's a competitive market and Lenders need to stay in business, so they're open to considering a broader spectrum of personal circumstances.

Loan Amounts And Interest Rates
The main advantage of taking out a secured loan is that the interest rates are much lower than most other types of loan and the repayment scan be spread over an amount of time that suit’s the borrower rather than the Lender.

If a Lender knows that the loan amount is tied into the borrower’s property then he knows that the borrower has an extra commitment to keep a roof over his or her head. This security covers the risk factor that is attached to the loan amount.

The Lender will also need to know the value of your home and details ofyour outstanding mortgage and any other loans secured on the property, as already mentioned the amount that you can borrow is based on the amount of equity in your home. Equity is your current mortgage balance taken away from the current value of your house.

It is not necessary for you to own your home or property outright to secure the loan, although you must have sufficient equity in the property to cover the amount borrowed. The actual rate available to you will depend upon your circumstances and the loan amount.

Conclusion
Secured loans offer a flexibility generally not seen with other lending methods, for example loan amounts equivalent to 125% of your property value can be arranged. Typically a remortgage will offer only 90% or thereabouts. 100% self certification is also a possibility. Loan turn around time is also very quick when compared to mortgages, loan deals can be completed within as little as 10-14 days.

How Easy Is It To Get A UK Commercial Mortgage?

2007-02-09T19:59:00.000Z

As is the case when applying for any mortgage, be it a residential or a commercial mortgage, the better your credit and the better the collateral, the easier the process becomes. But that doesn't mean that if your credit is less than perfect, or you want to purchase commercial property in a less then desirable part of the city, that you are automatically locked out of getting the money you need. It just means that you need a "friend" in the business.

When you are applying for a commercial mortgage your potential lender will consider your credit rating, your business' balance sheet, the purpose of the loan, and the type and location of the proposed property as well as that property's appraised value. If every one of these items do not fall within the lender's acceptable guidelines then you may get a "no thank you" instead of a pile of money. Considering the amount of paperwork that you may have to complete in order to get a decision, be it a positive or negative one, you want to make sure that you have the best chances of securing that loan before you even start.

And that is where having a "friend" in the commercial mortgage business comes into play. If you were going duck hunting, and only had one shell with you, then you'd better be a pretty good shot. On top of that, you'd better not be planning to serve roast duck to a crowd because you're only coming home with one duck if any. Oddly enough, the same holds true when you are applying for a commercial mortgage.

Different lenders have different requirements for granting an approval. Since your goal is to make getting a commercial mortgage loan approval as easy as possible then you need to carry more than one shell with you. The best way to do that is to use the services of a commercial mortgage broker. A broker represents you and submits your commercial mortgage loan application to many lenders.

Your "one shell" turns into a whole case of ammo as your application makes it across the desk of potentially hundreds of lenders. The odds are greatly in your favor that you are going to get an approval from at least one lender and, the truth is, many borrowers end up with several interested lenders and can actually negotiate the terms and conditions which suit them exactly.

Since your commercial mortgage loan broker doesn't earn their fee unless you get approved, they work with you to make getting a commercial mortgage loan as easy as possible. And, since the broker gets paid by the lender and not you, there is absolutely no reason not to engage their services.

Even if you had access to the same quantity of lenders as a broker does, you would have to fill out a separate commercial mortgage application and submit it to each lender. That process alone would take you more time than it takes to drive across the continent. A broker uses the same application and sends it to all of their lenders. That fact alone makes it easier to get a commercial mortgage than doing it yourself does. Even better is the fact that the broker already knows the terms and conditions that each of their lenders utilize. The broker will only send your application to those lenders whose qualifications you already meet.

Just like with everything else in life, there is an easy way and a hard way. If you're looking for the easy way to get a commercial mortgage loan then I suggest finding the best broker for your needs and let them do all the work. It doesn't get any easier than that!

Commercial Lifeline are Independent Commercial Mortgage Brokers. If you are
looking for a UK Commercial Mortgage we have the answer.

How To Get A Free Credit Report

2007-01-23T19:13:00.000Z

If you are thinking about fixing bad credit or you want to know what your credit history is like then it’s a good idea to take a look at your credit report. Looking at your credit report gives you an idea of what a lender will see the next time you apply for a loan or mortgage.

A credit report is a register of a person’s credit history and is made up of four categories of data:

• Identification Data – also known as the credit header data, this part includes name, address, social security number, and date of birth.
• Credit History – this contains a person’s payment history and shows account status, credit limit or credit balance, monthly payment information etc.
• Public Records – this part of the report contains data on court judgments, tax liens, bankruptcies, and collections.
• Inquiries – this section contains information about all other organisations or individuals who have looked at the file and for what purpose in the past six months.

It used to be law that everyone was entitled to at least one free credit report every 12 months. From then on you may have to pay, but this depends on which state you live in and how much you have to pay. This has now changed and people have to pay to get a copy of their credit report.

How You Can Get A Free Credit Report.

You can get hold of a free copy of your credit report if you have been recently turned down for credit.

When this happens, you receive a letter that explains why you were refused and the credit bureau used, and how to contact them to get a free report.

The three major credit bureaus are Experion, Exifax and Transunion. Some may have more information than others and it’s possible that one of the credit bureaus doesn’t have any credit information on you at all, especially if you don’t have a great deal of credit history.

You can purchase a 3-in-1 report which is basically getting all three reports from each of the credit bureaus. This is a good start especially if you have never seen your credit report before.

The final way to get a free credit report is if you have been a victim of fraud. If you believe there has been fraudulent activity on your credit report then you can write to the credit bureaus, explain to them the situation and request a free copy of your report.

You may want to be cautious if you are using fraud as an excuse to get a copy of the report because every time you do it a note goes on your report.

For more help and advice on credit cards, debt, loans, mortgages, forex, insurance etc try www.1stfinanceguide.com

Debt Consolidation Loans – A Good Idea?

2007-01-18T23:28:00.000Z

What is a debt consolidation loan

A debt consolidation loan is typically a loan of a large amount that you can use to consolidate all your existing credit. The purpose of this is to pay off all your outstanding debt so that you have just one loan left to manage.

People can have lots of small loans, credit cards or purchases made on credit. Smaller loans typically have higher interest rates so that lenders make enough money during the repayment period so they can make a profit from giving someone credit. Consolidation loans are bigger so they should have a lower interest rate in the same way as a mortgage loan for a house.

If you have a lot of small loans then applying for a debt consolidation loan may be the best option for you.

What are the benefits to getting a debt consolidation loan

A debt consolidation loan can be used to pay off all you existing loans. Usually a debt consolidation loan will have a lower interest rate. This can also be a great way to bring several loans together so that you are accountable to one lender rather than four or five at one time. This will help if you struggle to pay all your loan repayments every month because if you can get the right consolidation loan with a lower interest, then this should help you stay within budget every month.

What are the disadvantages to getting a debt consolidation loan

The repayment period is usually longer so you will probably be paying more money in the long term. The other problem with debt consolidation loans is that it is typically successfully pitched to people that are struggling to pay their repayments. This means you have to read the small print very carefully to make sure you are not going to get ripped off by accepting bad terms and conditions. This may mean that the interest and repayments are structured in such as way that if you want to settle the loan earlier, you then find you end up with much more total debt to repay.

Things to remember

Debt consolidation companies have to make profit just like everyone else. The term you have to pay off your loan may be a long term commitment that doesn’t suit your life-style. So it is worth considering whether cutting back to pay for your current loans is better than spreading payments out over a longer time.

Because consolidation loans are much bigger loans you have to be more careful with the small print. Signing up to a high interest rate could mean you end up paying a similar amount to what you were paying but for much longer. You must make sure the numbers add up for you.

Remember not to make hasty decisions in signing up for a debt consolidation loan. If you have a great credit history and a lot of credit on poor interest rates then it may be a good solution. However, if you have bad credit then reacting to your finances with a short term goal may just be setting yourself up for big debts in the long term future.

For more help and advice on debt, credit, loans, mortgages etc try www.1stfinanceguide.com

What Makes A Property Good For A Commercial Mortgage?

2007-01-14T13:08:00.000Z

The idea of purchasing a commercial property is that it is well suited to the needs of your business. This can and is defined by several factors and they will all be considered when you apply for your mortgage. The commercial lender will look at your business and what it does and how it will relate to the commercial property in question.

If your company makes widgets, the lender will want to know how long you have been making widgets. They will also want to know what your growth rate has been over the time you have been making widgets. They will look at the property to consider whether it will meet your needs for making widgets during the lifetime of the loan.

The lender will want to see that you will have room to grow and that you will grow to fill the space. They will also look at the location of the property to see how that is going to work with your widget manufacturing needs. Do you have good access to roads that can handle the volume of traffic that will be generated?

Will there be adequate parking available for staff and customers? Does the location provide room for expansion if your growth rate is more then expected or will you be moving in a couple of years? What tax incentives are available on that property and how long will they be available for that property? Are the tax incentives a one-time offer or are they able to be extended to make the property more appealing.

The things that will make a commercial property desirable will change depending on what your business is. If you want to open a pub, your needs will be very different from that of a factory. The lender will want to know that the property is in a good location to maximize the profitability of the pub. The property could be located across the street from the factory we talked about in the previous example.

The lender will again look at your past performance in regard to operating pubs to make sure that you know how to run a pub. They will want to know what the growth potential is and if the commercial property will meet those needs.

The commercial lender will not give you a commercial mortgage if the property is too big or not big enough to meet the expected needs of the business. If the property does not have enough parking for peak customer traffic, it will mean you could loose business.

The lender will want to know if there is enough space for the number of employees required and if the kitchen is large enough to meet thier needs. What is the maximum seating capacity of the building and how much will the average customer have to purchase to make the payments. There are many similar small things to consider when deciding if the commercial property being looked at is a good deal for both you and the lender. The list of things that can make or break a property deal is very long and it does change from business to business.

For example for some businesses, it may come down to waste removal. If your business is involved in agriculture, it could come down to the smell. Is the location of your farm upwind or downwind from a population center? If you are upwind from a population center, there could be some issues as locals oppose your being there. This could create a different kind of pressure on the lender that could make the property less desirable for the commercial loan. An independent broker could help out with this type of issue.

It does not make any difference what your business is, what will make all the difference is what your business needs are and will the commercial property meet those needs. The definition of a good commercial property is one that will meet all your current and long-term plans. If it does, it will make it easier to get the commercial mortgage you are looking for. It will also help you to get better rates and conditions on your commercial financing.

Looking for Commercial Mortgages in the UK? Commercial Lifeline can help. As Independent Commercial Mortgage Brokers, Commercial Mortgage and Bridging Finance specialists.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.

Coping With The Financial Stress Of Debt

2007-01-12T21:25:00.000Z

Many people think that debt is caused by people that just can’t control their spending. This does happen but there are many other reasons why people suddenly find themselves in debt.

People in debt often think that they can’t cope because there is no hope of getting out of their situation. If you find yourself in this situation then there are actually a lot of thing you can do. The main thing is not to panic and take time to work it out making positive steps to helping yourself get out of debt.

The first thing to do is to be honest with your situation and find out exactly how much your debt you are in. You need to sit down and work out how much money you owe and how much you have to pay on a monthly basis. This includes all the things you buy. By looking at a bank statement for a typical month you will see the things you spend your money on. You then need to work out how much money you earn on a monthly basis.

This will tell you if you are spending more than you earn. If you are breaking even or earning more then maybe you need to think about cutting back and putting some money aside to pay you debt off sooner. If you are earning less, and many people are, then you need to look at the things you pay for month by month and see where you can cut back. You may have to be a bit creative in finding ways of spending less every month.

Debt for some people can arrive suddenly if you have recently separated from you partner, or if you lose your job. If this is the case then the credit companies advise people to tell their lenders by sending a letter explaining their situation. This quite often helps because mortgage companies have great difficulty in taking money from people that simply don’t have much.

It is usually far better for them to work with you on helping you repay your debt so that they get their money, even if it takes them a bit longer. The three credit companies Experion, Exifax and Transunion give good advice about coping with debt.

So if you find yourself in debt, don’t panic. Be honest with yourself about your situation and be constructive by thinking of the positive things you can do to help yourself get back on the right track.

For more help and advice on debt, credit cards, loans, mortgages, forex, insurance etc try www.1stfinanceguide.com

Building Good Credit With Secured Credit Cards

2007-01-05T12:00:00.000Z

What is a secured credit card?

A secured credit card is where you pay a bank an amount of money, say $500 and receive a credit card with a $500 limit on it. You use the credit card in exactly the same way as any other credit card and make regular monthly payments to pay off any money that you spend using the card.

The credit card is secured against the money you have in the bank so there is no risk for the lender because they simply take this balance if you don’t pay the balance on your credit card. Most banks will even give you interest on the initial payment you make to secure the credit card.

How this helps to build credit:

This is a great way for people with bad credit to build up their good credit. Firstly there is no risk for the bank so there should be no problem in them giving you a secured credit card.

Secondly if you are making regular and consistent repayments on your card then you are building a positive credit history on you credit report that shows you consistently pay off your debts.

What to watch out for:

You must repay your monthly amounts without fail or you’ll just be damaging your credit more. Also make sure you don’t go over your limit on purchases. This can be easy to do because secured credit cards do not allow large credit limits.

Secured credit cards don’t make a big financial impact on repaying interest rates because at the low credit limits, even with high interest rates your repayment interest will be low.

Many secured credit cards will be free to open, so be wary if a company offers you low interest rates but a high annual fee or start-up costs.

Building good credit

If you use your secured credit card often and make regular payments then you will build a thread of good credit history. After a year or so you can apply for other credit, such as a non-secured credit card. If you manage this properly too then you are well on the way to establishing good credit. But remember that you must avoid penalties for late payment.

For more help and advice on debt, credit cards, loans, mortgages, forex, insurance etc try www.1stfinanceguide.com

Steps To Eliminating Debt

2007-01-04T00:28:00.000Z

Debt is easy to get into. We all buy things on credit, take loans out to get instant money or pay for goods on credit cards. Credit can take minutes to build up, but years to pay off. When debt builds up we end up paying regular monthly payments that simply increase every time we get more credit.

The first thing we all have to do to clear debt is stop getting into any more debt. If you never took out another loan and cut up your credit cards then after a while you will pay off all your debt (provided you are making regular monthly payments).

However, there are lots of clever ways to pay off debt quicker and help you to become debt free. Simply make a list of all the debt you have. This is everything that you pay to a creditor and includes any loans, credit cards, financed items such as the finance on your car or furniture and also the big one, your mortgage.

You should know:

1. How much the debt is for or the total amount
2. How much is left to pay off the debt
3. What you pay every month
4. How many months you have left to pay
5. AND the interest rate you are being charged

If you add the amount of debt (number 2 above) you have left on each one of your debts then this is how much you owe to creditors. If you then add up all the monthly payments (number 4 above) then this is what you have to pay every month. Once you have worked this out then you are in a good position to start working out the fastest and cheapest way to clear this debt.

Paying off the debt as quickly as possible:

There are several ways you can pay off debt quickly. Some will be better than others and it also depends on the type of debt you have.

The interest pay off – Targeting number 5 on the list above

If you have a credit card or mortgage then you should be charged interest monthly on the amount of credit you have left to pay. If you pay off larger amounts off this then amount you have to pay every month goes down. The more you pay off the less you have to pay in interest every month. If you take the credit card or loan that charges you the highest rate of interest, then paying this off earlier saves you the most amount of money every month. Once it is paid off, you move to the next credit with the biggest interest rate. Because mortgages usually have the lowest interest rate out of all your loans or credit cards and is secured debt you should leave this until last on your list.

For some loans, creditors can sometimes charge the entire interest on the full amount across the time you have to pay the loan so that if you decide to pay a loan off early, you may still end up paying the same amount as if you continue to pay the loan every month. In this case you are probably better off not paying that specific loan early and focusing your efforts on a different loan.

The minimum loan pay off – Targeting number 2 on the list above

If you take a look at all your loans and start paying extra on the smallest loan then this will be paid off the fastest. Once you pay this off, take the amount you were paying on that loan and use it towards paying off the next smallest loan. Eventually you will again end up with only your mortgage left which if you use all the money you used for your other loans this will also be paid off much faster.

The biggest payment pay off – Targeting number 3 (or 4) on the list above

This works best for small loans with fixed payments and is great for people who find themselves with lots of loans with money to pay off on all of them. Because you want to reduce the amount of time and money you have to use to pay off the loan you simply target the largest payment you have to make every month. This may be the loan with the highest interest or the one the one with the highest balance. Once you put everything you can into paying this off your monthly payments will suddenly drop.

You can also do this by targeting the loan that has the least number of months left to pay off the debt. This will reduce the monthly payments quicker.

This will leave you with a lot more money every month and helps to control your finances better especially for people that struggle to pay off their loans. Clearing the loan that takes the highest payment every month has the biggest effect on your bank balance every month. Clearing the loan that has the least number of monthly payments left has the fastest effect on your monthly bank balance.

The clever part is to then use the money you save once you have paid off the loan to pay the other loans off faster and not to get comfortable with the debt you have left.

For more help and advice on debt, credit, loans, mortgages etc try www.1stfinanceguide.com

Is Bridging Finance For You?

2006-12-29T21:15:00.000Z

By definition, Bridging Finance or Bridging Loan is a short-term loan used to purchase commercial property. This is something that can come in very handy, depending on your particular situation. There are two main points that you need to consider before you opt for a Bridging Finance package, your needs and the state of the property market.

The whole point of Bridging Finance is that it will allow you to close on a property and purchase a new property before you sell your existing one. You will need to evaluate your current situation to determine if your needs justify taking on this type of finance. Will you lose the new property if you can't offer a deposit? Would you be eligible for a discount on the purchase price if you can come up with the cash fast?

What are the existing market conditions in regard to the sale of your existing property? Is it going to be possible to sell your existing property in the time frame set out in your finance package? Most Bridging Finance typically runs for one year and will need to be paid in full at the end of the term unless it is possible to convert it into a Commercial Loan. You will also need to be aware that the interest rates will be higher on a Bridging Finance package.

If the market is slow and you do not have an urgent need for the new property, it may not be in the best interest of your business to take on this type of loan. On the other hand if the property market conditions are good, you can be out from under a Bridging Loan fast. However, it is still something that will need to make sense for your business.

If you feel taking on Bridging Finance is the right thing to do, you will be far better off going through a specialist Commercial Lender.

This will shorten the entire process as a specialist will know the market and they can quickly make a judgment on the best package for you, based on your particular circumstances. Be sure to check that the package can be converted into a conventional Commercial Finance package. You will also want to check on the type of interest rate and the costs you will entail if you do have to convert.

Most Commercial Lenders will be willing to extend the terms of the Bridging Finance package. Let's say, for example, you have a buyer and you are waiting for the sale to close. Bridging Finance in general is much more flexible and accommodating than you might expect in this respect.

Paying back your Bridging Loan at the end of the loan term more often than not depends on your ability to sell your existing property. If it does not sell in the required time, you will be paying the existing loan on your current property, your new property and the newly converted Bridge Finance as well.

If you believe this may be a possibility be sure to take a package that can be converted to a Commercial Loan if the need arises. Otherwise you may have to come up with the full Loan sum at the end of the term of the loan.

Closing A Commercial Mortgage The Easy Way

2006-10-19T07:09:00.000Z

'Time is Money' it's an old adage. Good timing can also amount to the same thing. Taking action at the right time can make all the difference between an easy commercial mortgage transaction and a major headache of stress and panic. In between the lenders offer and the commitment consider undertaking what you can to ease your commercial mortgage deal by anticipating and dealing with any problems or hiccups that may occur.

Try to intercept any future problems or anticipate extra work that could stall your commercial mortgage deal at the critical moment. If you take a little time to consider what is required you should be able to deal with them one by one in plenty of time.

Once you have agreed to an offer from a lender and you are waiting for the commitment you should go ahead and run the title searches. The title work can be ordered by your real estate attorney from any number of companies that will risk loosing their title search fee if the commercial mortgage deal doesn't go through.

The title work is a very slow and labour intensive process, so the earlier you start it the quicker it will be completed. Starting it early will also allow for any delays or other issues that may pop up prior to the commercial mortgage completion.

The survey is another potential headache. Surveys have differing specifications and your new lender may have specific requirements of the survey that may not appear in your existing survey documents. Check with your lender exactly what they require of a survey and order it on receiving your offer rather than at closing. Most surveyors are very busy and they can have a very slow turnaround.

So again the sooner you can get it underway the easier it will be to deal with any hitches.

Cut down on your mortgage recording tax. Ask your lender to take an assignment of the old mortgage. Early in the deal process you should let your new lender's attorneys look over and approve the old mortgage. This is generally quite quick if you work with your own attorney to ease the process.

Consider the structure of your commercial loan. Does it cover any future plans you may have to modify your property? e.g. you may wish to convert your new property into multiple apartments. Does your loan account for the 'whittling' down of your asset as apartments are sold? This is a simple example but it's better to be upfront at the start about the plans you may have for the future of your property.

Along similar lines you would be well advised to consider the possibility of an early payment penalty if you plan to sell on your property within a few years.

Make a 'To Do' list and use and any spare time to work through it and clear it. There are enough things that can go wrong or cause delays as the deal nears completion. Clear what you can before you get to closing the deal, in this way you can give the mortgage agreement your full attention rather than worry about the other jobs that still need to be done.

Looking for a UK Commercial Mortgage? Commercial Lifeline are specialists in Commercial Mortgages, Bridging Finance and Buy to Let Mortgages.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.

Why Use Bridging Finance?

2006-10-19T06:45:00.000Z

Traditionally Bridging Finance, or Bridging Loan as it is also known, has been used to 'bridge' the financial gap between the sale of one property and the purchase of another. Allowing borrowers to purchase the second property before selling their existing property.

Numerous other uses for Bridging Finance include -

* Allowing Buy to Let investors achieve a discount for a faster completion

* Auction purchases, where funds are required quickly to complete the purchase

* Entrepreneurs requiring a quick injection of cash to fund a new business opportunity

* Property developers, utilizing the speed of Bridging loan to quickly buy and sell on a property

Fast Cash When You Need It Most

The traditional mortgage application route is well known for the snails pace at which it can sometimes operate. At the speed we live in today's postmodern age this can be a very frustrating state of affairs.

The property market has numerous opportunities but many can be left on the shelf. Either through the chain collapsing or the lender not having funds in place quickly enough. To add to this a discount on a property is a definite possibility if funding can be arranged quickly enough. Bridging Finance is a fast and easy solution to all these headaches.

But why is this? It's very simple. Bridging Finance tends to be 'Non-Status'. Lenders consider the type and quality of the property as security as a measure of the lending possibility.

Unlike traditional lending bridging underwriters are generally looking at minimum lending terms of between 3 months, 6 months or 12 months. But some lenders are even more flexible in this regard and will lend with no minimum period on the loan. Lending is available at up to 75% LTV (Loan-To-Value), in some cases 85% LTV may be available. Apart from credit checks, the non-status factor is the same as mainstream non-status lending. The benefit is that the decision to lend is very much faster.

A Short Term Solution

Bridging Finance can bridge a financial gap. But it should never really be considered a permanent solution. A more permanent solution in the form of a regular mortgage should be considered if the property is to be held on to long-term. Or in the case of a more speculative investment the borrower will sell the property to make a quick profit.

Bridging Finance is flexible in another way. In terms of the redemption date it can set as both 'open' with no definite end to the loan, or 'closed' with a set redemption date. It is advisable to only use the open variety when you are confident of the sale of a property or the replacing of the loan with a more long-term finance solution.

Bridging Finance remains the fastest and most appropriate loan type for making a property purchase quickly.

About the Author
Looking for UK Bridging Finance? Commercial Lifeline are Bridging Finance specialists.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.

Why Cheap Term Life Insurance Isn’t Always So Cheap

2006-06-30T13:16:00.000Z

You’ve heard a lot of talk about cheap term life insurance and you’ve decided that it’s something you need to start investigating. That’s definitely a step in the right direction. Like so many other tasks in life, you’ve turned to the Internet to get the ball rolling.

You’ve filled out numerous online applications for cheap term life insurance but as the quotes start to come back you’re realizing that term life insurance isn’t really all that cheap. What’s going on?

Your health matters

A couple of factors might be causing higher than anticipated term life insurance costs. First and foremost is the general state of your health. Getting an online quotation is one thing, but pricing an actual policy after the life insurance company has reviewed your medical history is really what determines your true costs for life insurance.

Very rarely will an individual get life insurance without first having a medical examination. Getting a policy through your place of employment is the only time this may happen, but generally in this situation, your coverage will be minimal.

If you’re looking for cheap term life insurance that’ll actually be of financial value after you’re gone, you’ll likely have to supplement the policy you get through your job.

Let’s take a look at the logic for a moment. If given the choice, life insurance companies would select as customers only those whose health is excellent. Excellent health means you should live longer. When you live long there is less chance that the insurance company will have to pay out your policy’s death benefits.

In other words, if you outlive your cheap term life insurance policy, the insurance company comes out ahead. The company has collected your premiums, but it did not have to give any money back to your beneficiaries.

The categorization system

When determining the true cost of a policy, life insurance companies use a classification system. Individuals with a clean bill of health generally get classified as “super preferred” and get the lowest-priced premiums. They’re the ones who get cheap term life insurance. Several more categories exist and, unfortunately, each category comes with a progressively higher premium.

Some of the health conditions that raise a red flag in the eyes of an insurance company include use of tobacco products, being overweight, high cholesterol, high blood pressure, and a history of cancer, stroke, diabetes, heart disease or other type of chronic disease in your family, even if you do not have any symptoms of these conditions.

If you do have symptoms of the above conditions, you should expect that cheap term life insurance isn’t something for which you’ll qualify.

The types of medical conditions listed above are more likely to cause premature death in an individual. If the insured individual dies during the life insurance policy term, the insurance company will have to pay out death benefits. And that’s what life insurance companies look at when deciding whether or not an individual qualifies for cheap term life insurance.

Find Cheap Term Life Insurance in the UK. You will not believe how low our rates can go.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

Life Insurance Money Saving Tips

2006-06-30T12:54:00.000Z

Life insurance, specifically Term Life, is arguably one of the best values in the entire financial services arena. Where else can you go and get hundreds of thousands of pounds in protection for literally pennies per day? Rates for Term Life insurance remain at all-time lows, and now is the time to lock in the best prices. Here are some ways to help you save money when purchasing life insurance.

Buy when you're young. Although your financial needs may be lower at a younger age, the rates are also substantially cheaper when you’re young. Remember, the goal is to cover your primary assets (like your salary and house) so that if something were to happen to you, your beneficiaries would be able to persevere financially. The best advice is to lock in as much protection at a young age while your health and prices are still good.

Your “half” birthday could be costly. While some companies raise their prices based on your actual age, most companies increase the price of their policies six months before your birthday. It’s a term called “Age Nearest” in the industry, and that half-year price increase could really add up over a 20-year term policy.

Buy before any major health issues arise. Healthy people have the best mortality risks and thus are much cheaper for companies to insure. This translates into lower rates for the “Super Preferred” customer than someone with higher risk factors such as a heart condition, cancer or diabetes. Conversely, if you were unhealthy when you acquired your policy, and your health has now improved, it might be time to shop for a new policy, as your rates are likely to be lower.

Select the right length of coverage. Everyone has different needs, and not one size fits all when it comes to term life insurance. While it may make sense for people in their 30s and 40s to secure a 20-year term length, a 10-year term might be more appropriate for someone nearing retirement.

People who are trying to quit smoking, for example, might be best suited purchasing a shorter term (and then replacing it with a longer term policy when they qualify for non-tobacco prices). Lastly, individuals who have 30-year mortgages might want to consider a 30-year term to ensure that the house is protected throughout the period of the loan.

Check for price breaks. Companies often offer "price breaks" at certain coverage amounts (i.e. £250,000 vs. £225,000). The truth is that many people can actually pay less money for more coverage. Check how much or little your prices increase when you increase coverage to £250,000, £500,000, or £1,000,000.

Buy the right amount of coverage. Many agents may try to sell you more coverage than you need. The purpose of life insurance is to “indemnify” (replace financial loss), and what most people should be looking for is income replacement for their beneficiaries. Independent financial planners recommend the following rule of thumb: purchase an amount of coverage equal to 6-10 times your annual gross income.

The right hobby with the wrong company could cost you. People who participate in high-risk sports or activities (such as hang-gliding, skydiving, mountain climbing, scuba diving, and racing), or even those who like to have an occasional cigar could very well pay more money if they don’t pick the right company.

Every company looks at risk factors differently and some are more liberal in certain areas than others. Make sure you work with an insurance company that has properly matched your personal profile with their underwriting criteria.

Work policies aren’t always the best deal. . Work policies are often based on a composite profile of the employees you work with, many of whom may be less healthy than you, or have other underwriting factors that might drive up rates.

These type of policies also expire if/when you leave the company. Inexpensive term life insurance polices that cover your dependents until they can live comfortably on their own are often a better alternative.

Check out your payment options. Many life insurance companies offer discounts to consumers who pay their premiums annually.

Review your policy often. Do a review of your life insurance policy a minimum of every three years, if not more often. Rates may be lower, and your circumstances may have changed, necessitating more or less protection. If you are replacing a policy, make sure you allow enough time to get your new policy in place so coverages won’t overlap or lapse.

Don’t overspend on protection. Term life insurance is the most affordable and cost-effective pure protection available, and it is typically much less expensive than a comparable whole life policy. The old axiom still rings true: “Buy Term and invest the difference.”

Find Cheap Life Insurance in the UK. We are independent insurance brokers sourcing the lowest rate possible and then lowering it further still.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

How to Check Your Credit Rating And How It Affects You

2006-03-07T21:43:00.000Z

Did you know that each time you take up any kind of credit or loan, or pay one back, it adds to your credit rating. Who keeps a record on you will vary according to where you live, but the three major credit reference agencies are Equifax, Experian and Trans Union. They will supply your credit rating to any business that is considering lending to you.

What Does Your Credit Rating Reveal.

All your current debts are incorporated in to your credit rating. Believe it or not there is a history of all the debts you've had in the past ten years or so, and special note is made of anything that has gone wrong. A Default (missing a payment) on any debt can damage your credit rating. Borrowing a lot before you start paying anything back will make you seem like a very bad risk, as will going all the way up to (or even over) your limit on a credit card.

It's also worth bearing in mind that the credit reports of anyone you live with may be linked to your own report, and in turn could reflect badly on you - your partner's credit rating is coupled to your own quite intimately.

How Your Credit Rating is Worked Out.

'FICO', named after the Fair Isaac Corporation, who invented it, is the most common method of coming up with your rating. Your present credit status is prioritised thus:

1: Whether you've paid previous debts

2: How much debt you now have

3: Your credit history

4: What types of debt you use

5: How many times your credit rating has been checked of late

Things that happened in recent times are given more weight than things that happened a while ago.

Your Credit Rating is Significant.

Each time you get declined for a credit card or any other type of loan, the odds are that it was because of your credit rating. Companies handing over small loans are far more probable to rely entirely on this rating than to bother checking your income, and a poorer rating will mean that you are offered a higher interest rate.

Your rating is important when you get mortgages, loans or car finance too. You wouldn't want to find a house you love only to get declined a mortgage thanks to your habit of paying your credit card bills late.

How Do You Check Your Credit Rating.

Credit reference agencies are not allowed to hold your information on file without disclosing what it is they have. If you write them a letter and pay a small fee, they must send you the full credit report they hold on you.

You can then look over your credit rating and contact them if you discover something that is incorrect. You might find an error has made you look bad or there is a mistake. They store anything you report in your file.

It is possible in some countries to sign up and get credit reports frequently for a small fee, or even free!

Check your local laws to see if this is possible.

Get more help and advice on Credit, Debt, Mortgages, Investing, Real Estate etc. From www.1stFinanceGuide.com.

This article comes with reprint rights. You are free to reprint and distribute it as you like. All that we ask is that you do not make any changes, that this resource text is included and that the link above is intact.

Stop Saving If You Have Debt!

2006-03-03T19:03:00.000Z

People are funny. We don't always do what's best for us instead we do what feels best and try to suppress any reasons why it may not be the best thing to do. Perhaps that's why there are so many people that have both savings and debts.

It's Simple Commonsense.

It just feels better to save. In saving you feel like you are laying a foundation for the future, whereas on the other hand paying off debt almost feels like throwing your money away. You're saving that money for improving your house, or for the kids' education, or suchlike, in an account with a decent rate of interest. What could possibly be wrong with that? Plenty, if you have debts.

Don't Be Foolish With Debt.

There are pretty much no savings accounts that will offer interest rates as high as what the credit card companies charge.
Here's an example:
Say have $10,000 in a savings account at 5% per year
$5,000 on a credit card at an interest rate of 20% per year

How much money do you boast?

After as little as five years, the answer is effectively $0 - your debt will have grown to around $12,000, the same total that your savings are now worth.

It's difficult to accept as true right now, but it really is much healthier to pay off your debt. If you used half your savings to pay off that debt, you'd be in such a better place. You avoid five years of interest on the debt, but you still get to keep that $5,000 in your savings account, earning interest and after five years, that's about $6,180.

If you'd still prefer to keep your savings intact rather than using them to pay off your debts, ask yourself this basic question: is your pride worth $6,380 of your family's money?

Consider A Debt Free Future.

When you have money enough to pay off your debt, there's entirely no reason to keep it. Debt is for people who don't have the money, and need to borrow it. Debt costs money, and savings make money - you want as much of your finances as achievable to be savings, not debts.

If your savings account and credit card are from the same bank, then you're in effect paying for the opportunity to borrow your own money from them. How ridiculous does that sound?

By paying off your debt with savings you'll also be less stressed about your debts, and your credit report score will rise - getting you a much better interest rate if you ever need to go into debt again.

It can be tough. You just have to keep in mind that any money you've 'saved' hasn't in reality been saved at all. It's money you should have been spending instead of making purchases with a credit card.

Of course, it feels bad to spend money thinking that you're spending away your future - but always bear in mind that when you use a credit card to spend that same money, you're spending away your future, plus interest. As it goes, if you've got the debt, then those savings have already been spent.

About the Author
Get more help and advice on Debt, Credit Cards, Mortgages, Investing, Real Estate, etc. From www.1stFinanceGuide.com.

This article comes with reprint rights. You are free to reprint and distribute it as you like. All that we ask is that you do not make any changes, that this resource text is included and that the link above is intact.

Debt Stress And Debt Relief

2006-01-16T20:48:00.000Z

Whenever you hear discussion of credit card debt, the various best ways to manage it and clear it etc., one thing is mostly ignored. Credit card debt can be extremely stressful and it can have a very negative impact on your life.

It’s always hanging over you, getting you down, making it difficult to live your life the way you would like to. This article takes a look at how to recognise debt stress, and what you can do about it.

The Symptoms of Debt Stress

There are numerous symptoms that can be caused by stress. Some of the most common ones are:

feeling depressed and irritable

headaches

not being able to sleep

forgetfulness

lack of concentration

If you have some of these symptoms but you're unsure whether they are related to stress a visit to your Doctor may be in order.

Who Gets Debt Stress?

Just about everybody that has debts gets stressed about them. Debt results in millions of days off work every year and it's statistically one of the leading causes of suicide. When you read about someone who has committed suicide it's very common to find their name is followed by “who owed [a very large amount] in debts”.

Students and graduates are among the most vunerable, as debt is growing here faster than in any other sector of society.

It's very easy for anybody to rely on their credit card, a little here and a little there and before you know it you owe thousands.

The average adult now owes many thousands in debts, tens of thousands even and as that’s the average, then it stands to reason that many people must owe much more.

This being the case then always remember that you’re not alone, other people are suffering in the same way and there may well be many worse off than you.

How Do You Deal With It?

The perception of stress caused by debt is often of embarrassment or shame. People with lots of debts don’t want to talk about it, even with their family or close friends, for fear of upsetting people or looking like a failure.

It's essential that you talk about your problems, storing it up inside will result in even more stress. If you talk to no one else you should at least talk to your partner. They are in the best position to understand and possibly help you.

When you're ready to confront your debt stress probably the best route is to find two people outside of your partner, one who can advise you and one who can act as a counsellor.

That means a professional who knows what they’re doing in regard to financial matters and possibly a psychologist or psychiatrist or some other kind of counsellor. Don’t let stigmas deter you, this is about your health which is much more important.

The next thing to do is to consider how you created the debt to begin with. Dig out your old credit card statements. What did you spend the money on?

By far the best way to defeat your debt stress is to pay back your debts.

You need to sit down and work out a budget based on your income and expenditure, cut as many unnecessary expenses as possible and try to free up as much money as you can to pay back the debts.

Even if it will take a while to clear the debt you know that your debt is gradually going down and as it does your debt stress will follow.

About The Author
Get General Finance help and advice on Credit Cards, Mortgages, Debt, Investing, Real Estate, etc.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

The Credit Card Cheque and Cash Advance

2006-01-13T13:47:00.000Z

If you’ve got a credit card did you know that you can do more with it than just use it for payments. For one you may receive a credit card cheque book which will enable you to pay with your card account via a cheque. For those times when a credit card will not be accepted.

You may also have the opportunity to get a cash advance. A means of withdrawing cash directly from your credit cardeither from a cash machine or directly to your bank account. This is great if you need cash in an emergency. But there's a catch to both these credit card account features, so be wary.

You Will Pay Much More Interest for the Service
Almost all credit cards charge a much higher interest for credit card cheques or a cash advance. You may forfeit any interest-free period, which means that you will start paying interest on the money the minute you spend the money. You will also find that most cards will also charge a fee each time you take a cash advance or use a credit card cheque. Plus using an ATM could raise the fee further still.

You Will Pop Up On The Credit Company Radar
Whenever you use a credit card cheque or take a cash advance, you’re revealing the fact that you’re not just using a credit card for it's convenience, you really do need the money. This will be recorded and noted in the credit card company’s records and mark you as someone who possibly shouldn’t receive the best deal. As they see it, you won’t be going anywhere.

Spend With the Credit Card Where Possible
Try avoiding using cash to pay for small things and only to find you have to take a cash advance or use a credit cheque to pay for bigger things. Instead do it the other way around. If you’re in a situation where you’re relying on a cash advance, you should start using your card for the smaller things where you wouldn’t usually consider it, in order to avoid taking the advances and paying the extra interest. Think carefully how you spend.

There are few bills now that need to be paid for with a cheque, consequently there are fewer reasons to ever use a credit card cheque. If you’re willing to make a call and wait in their queue for a while or there's a facility to pay online, the chances are you can get them to accept a credit card payment. Most companies accept credit cards now. The fact is they're loosing out if they don't.

Be Wary Of Advance Limits
If you start to rely on cash advances, you’ll eventually run into an advance limit. The credit card companies don’t advertise it, but many of them have limits on how much of your balance can be cash advances and how much must be in purchases. Check these limits before you start taking cash advances.

Cash Advances Get Paid Off Last
When you begin to pay back your credit card balance, most lenders will put your payments towards the lowest-interest money, your purchases, first and once this is cleared towards any other lending. This being the case you will always be paying the higher interest on the cash advance or cheque until you clear your credit card debt completely and get your balance back to zero.

About The Author
Get free General Finance help and advice from www.1stfinanceguide.com. Credit Cards, Mortgages, Debt, Investment, Real Estate etc.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

2005-10-24T18:45:00.000Z

Credit Score An Introduction

There's a lot of confusing information about credit scores out there. There are people out there who believe that they don’t have a credit score and many who think that their credit score doesn’t count for much. Your credit score can spoil your chances of getting some jobs, of good interest rates and even your chances of getting some apartments.

The fact is if you have bills and a bank account then you have a credit score and your credit score matters more than you might realise. Your credit score is may be refered to by a number of other terms, including a credit risk rating, a credit rating, a FICO rating, a FICO score or a credit risk score. All these terms refer to the same thing the three-digit number that allows lenders get an idea of how likely you are to repay your bills.

Each time you apply for credit, apply for a job that requires you to handle money, or even apply for some more exclusive types of apartment living your credit score is checked.

In fact, your credit score can be checked by anyone with a legitimate business and reason to do so. Your credit score is based on your past financial responsibilities and past payment records and credit and it provides potential lenders with an easy snapshot of your current financial state and past repayment habits.

Your credit score lets lenders know fast how much of a credit risk you will be. Based on your credit score lenders decide whether to trust you financially and give you better rates when you apply for a loan. Apartment managers will decide whether you can be trusted to pay your rent on time. Employers will decide whether you can be trusted in a high responsibility job that requires you to handle money.

There's quite a bit of misinformation circulated about crdit scores especially through some less than scrupulous companies who claim that they can help you with your credit report and credit score, for a fee of course.

Advertisements and suspect claims can mislead you to the point where you may come away with the idea that in order to boost or fix your credit score, you will have to pay a company or leave credit repair in the hands of the so-called 'experts'. This is not necessarily the case. It is possible to bring down debts and boost your credit by yourself with no expensive help at all.

About The Author
Credit repair, Debt problems, need a Loan, Mortgage help not sure what to invest in this General Finance Guide may have the advice you've been searching for. Hundreds of useful articles on all aspects of Finance are available to help.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

Create An Action Plan To Deal With Your Poor Credit Score

2005-10-08T09:30:00.000Z

When you receive your credit report and credit score, the first step is deciding where you stand and where your main problems may lie:

-Have you defaulted on a loan, failed to pay taxes, or recently been reported to a debt collection agency?
-Do you have too much debt?
-Too many unpaid bills?
-Have you recently faced a major financial upset such as a bankruptcy?
-Have you simply not had credit long enough to establish good credit?
-Have you defaulted on a loan, failed to pay taxes, or recently been reported to a collection agency?

The problems that influence your credit problems should dictate how you decide to start to repair your credit score. As you read this article, make a note of those tips that apply to you and from there develop a checklist of things you can do to improve your credit situation.

When you take professional credit help, counsellors will commonly work with you to help you develop a personal strategy that directly confronts your financial history and credit problems. This article allows you to develop a similar strategy on your own in your own time and at your own cost.

When developing your action plan, know where most of your credit score is coming from:

1: Credit history (can account for more than a third of your credit score). Whether or not you have been a good credit risk in the past is considered the best indicator of how you will react to debt in the future. For this reason, loan defaults, late payment, bankruptcies, unpaid taxes and other debt responsibilities will count against you the most.You can’t do much about your financial past now, but starting to pay your bills on time - starting today - can help boost your credit score in the future.

2: Current debts (can account for approximately a third of your credit score). If you have lots of current debt, it may indicate that you are stretching yourself thin financially and will have trouble paying back debts in the future. If you have a lot of money owing right now, especially if you've borrowed a lot recently, this fact will bring down your credit score. You an boost your credit score by paying down your debts as far as you can.

3: The length of time you've had credit (can account for up to 15% of your credit score). If you've not had credit accounts for very long, you may not have enough of a history to let lenders know whether you make a good credit risk. Not having had credit for a long time can affect your credit score. You can counter this by keeping your accounts open rather than closing them off as you pay them off.

4: Types of credit you have (can account for about one tenth of your credit score). Lenders like to see a mix of financial responsibilities that you handle well. Having bills that you pay as well as one or two types of loans can actually improve your credit score. Having at least one credit card that you manage well can also help your credit score.

As you can see, it's only possible to estimate how much a certain area of your credit report affects your credit score. But, keeping these four areas in mind and making sure that each is addressed in your personal plan will go a long way towards making your personal credit repair plan comprehensive enough to boost your credit score effectively.

About the Author
Debt problems, need a loan, mortgage help not sure what to invest in this General Finance Guide may have the advice you've been searching for. Hundreds of useful articles on all aspects of Finance are available to help.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

Bridging Loan Basics

2005-08-17T21:00:00.000Z

A Bridging Loan is a short-term loan used as a way to provide funding for the purchase of a new property while the borrower awaits the sale of an existing property. Unless all the stars are in perfect alignment, it’s tricky to coordinate the sale of one property and the purchase of another property in such a way that the transactions occur simultaneously.

A Bridging Loan or “Bridging Finance” as it is also commonly known, makes such transactions possible. They keep the borrower from getting stuck in a rough financial corner, which typically means being forced to pay two mortgages at the same time. Bridging Loans can be used either for commercial or personal reasons.

Short term in nature, the application process for a Bridging Loan is similar to that of a standard loan. Most importantly, it’s advisable to work with a lender that is experienced with this type of loan. Plus, as the need for a Bridging Loan often arises with little advance notice, being pre-approved for such a loan is a smart move.

Bridging Loans are usually interest only meaning that the borrower pays only the interest on the loan each month. The borrower continues with this repayment plan until the property the loan is being used for is sold. When the sale finally does occur, the proceeds of that sale are used to repay the principal. The principal payment typically is in the form of a one-time, lump-sum payment.

The lender need not be too concerned about default because the borrower is required to put up collateral to secure the loan. This is typically in the form of another piece of property. But rest assured the lender will still thoroughly review the credit history of the applicant, the business and any partners or others with an ownership interest to assess the level of risk it is undertaking. Poor credit however need not be an obstacle.

The interest rate on a Bridging Loan is based on several key factors: the potential risk associated with the loan, the current interest rates and a premium added by the lender. As Bridging Loans are short-term, generally not longer than two years, and in most cases only a metter of months, the lender has only a short time to make a profit on the deal. The profit is derived from the interest rate.

Expect to pay a higher rate of interest for a Bridging Loan. And remember, the monthly payments are generally interest only. You should also expect to pay off the Bridging Loan in full, usually as a one time payment, as soon as the property is sold.

In the off chance that the property is not sold before the Bridging Loan matures, it can usually be converted to a conventional loan without a payment penalty. But as ever you should not assume this is the case and be sure to check with your lender that this is an option if circumstances call for it.

About the Author
In need of a Bridging Loan Fast? Commercial Lifeline, independent Commercial Bridging Loan and Commercial Mortgage specialists can help.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

Mortgage Glossary of Terms

2005-08-14T16:22:00.000Z

Adverse Credit
The term used if the borrower has a poor credit history. This could include previous mortgage or loan arrears, bankruptcy or CCJ's. Other terms used to describe an adverse credit mortgage include:

Bad credit mortgage
Poor credit mortgage
Non status mortgage
Credit impaired mortgage
No credit mortgage
Low credit score mortgage

APR (Annual Percentage Rate)
The interest rate reflecting the cost of a mortgage as a yearly rate. The APR provides home buyers with the ability to compare different types of mortgages based on the annual cost of each.

Arrangement Fee
The fee you pay your Lender in return for them providing you with a mortgage. Usually paid on completion or with your application, these fees usually apply when you take out a fixed rate, discount or cashback mortgage.

AST (Assured Shorthold Tenancy)
A form of tenancy that gives the landlord the right to repossess their property after a set amount of time laid out in the tenancy agreement. New tenancies are automatically ASTs unless otherwise stated.

Assured tenancy
The landlord can charge a market rent (the current rate for similar property in that area) and take back the property under certain conditions, as set out in the Housing Acts of 1988 and 1996.

Bridging Loan/Finance
Short term loan to enable the purchase of one property before the sale of another essentially releasing funds that are required for the purchase. You should always consult a professional before considering any bridging finance as it could be a solution that is worse than the problem.

Brokers Fee
A fee charged by an intermediary or advisor for locating the most appropriate mortgage for the borrower.

Buildings insurance
Insurance you can take out when you buy a property that will cover the cost of any damage to the house and or contents..

Buy to Let
A mortgage meant for those who wish to purchase a property to rent out to others. The decision on whether you are able to repay this type of mortgage is often based up on the future rental income from the property rather than the personal income of you the borrower.

CCJ (County Court Judgment)
A judgement reached in the County Court generally realted to non payment of a loan, mortgage etc debt in general. If you pay off the debt, the CCJ will be satisfied and a note is put on your records that states this.

Chain
A housing 'chain' made up of a number of buyers and sellers, essentially the line of buyers and sellers involved in each house move.

Charge
Any right or interest, especially with a mortgage, to which a freehold or leasehold property may be held. Basically a charge is the claim the lender has on the property until the mortgage or loan is satisfied.

Completion
The term used when the seller and buyer exchange the finances required to buy a property through their respective solicitors. At exchange of contracts a deposit, usually 10%, will have been paid. At this point the buyer becomes legal owner of the property.

Conveyance
The legal process in which ownership of the property is transferred from the seller to the buyer. Generally undertaken by a solicitor, or licensed conveyancer.

Early redemption fee
If you decide that you want to sell your property or remortgage then you will be redeeming you mortgage early. Most lenders charge a penalty fee, especially during any period of a fixed, capped or discounted rate. Be sure you are clear about any potential penalties when you are about to take on a mortgage.

Equity and negative equity
The amount of value in a property that isn't covered by a mortgage - simply take the amount of the mortgage from the valuation to work out the equity. vThis is where the money you owe on the mortgage is greater than the value of your property.

Exchange of contracts
The contract is a written agreement that lays out the terms between the buyer and the seller. When both parties exchange
contracts, usually weeks before completion, the deal becomes legally binding. Often a deposit of around 10%, is paid at this stage.

Fixed Rate
A set interest rate on a mortgage fixed for a period of time. This varies from lender to lender.

Freehold
If you are the property owner outright then your property is freehold. Most houses are freehold wheres many flats are leasehold, since you are not the owner of the whole building containing the flats.

Gazumping
If you are in the process of purchasing a property and your offer has been accepted but the seller gets a better offer, before you complete, and takes it then, you've just been 'Gazumped'.

Interest Only Mortgage
A mortgage whereby the borrower is only required to pay inerest on the amount borrowed during the mortgage term. It is the borrowers responsibility to ensure that enough funds will exist (either through an investment policy or other means) to repay the full mortgage at the end of the term.

Intermediary
A mortgage broker or advisor who finds the most suitable mortgage for a borrower and arranges the mortgage on their behalf.

Leasehold
If you buy a leasehold property you don't own the property rather the right to live there for a specified period of time, however much time remains on the lease. The owner of the property is called the freeholder or landlord.

Liability
This relates more to commercial mortgages. With a commercial mortgage liability for the repayment of the loan depends on the legal structure of the business:

A sole trader will be personally liable for the mortgage debt. Personal assets could be seized if the business defaults.
Partners are jointly liable for the debts of the partnership and their personal assets are at risk.
With a limited-liability partnership and a limited company, the liability falls firstly on the business rather than on the individual partners and directors. The lender may take a floating charge on business assets in general, rather than simply on the current property being purchased.
The lender may also insist on personal guarantees as a condition of granting the loan, in which case the partners and directors may be held personally liable anyway.

Life insurance
If you have a joint mortgage, life insurance can be acquired that will see the mortgage paid of should one of you pass on.

LTV (Loan to Value)
The size of the mortgage as a percentage of the value of the property i.e. A £90k mortgage on a house valued at £100k would mean an LTV of 90%.

MIG (Mortgage Indemnity Guarantee)
A one off payment made when you set up a mortgage a kind of insurance policy for the lender. This offers them protection against the value of the home falling to less than the mortgage. It is generally only charged to borrowers with a less than 10% deposit, but this can vary.

Mortgage
A loan to buy a property where the property is used as security against you paying back the loan.

Mortgagee
The company or organisation that lends you the money.

Mortgagor
The person taking out the mortgage.

Non-Status
Where a lender may not require income details from you or may accept some previous poor credit history i.e. CCJ's or previous mortgage arrears.

Payment Holiday
A period during which the borrower makes no mortgage payments.

Regulated tenancy
A legal right to live in your accommodation for a period of time. Your tenancy might be for a set period such as a year (this is known as a fixed term tenancy) or it might roll on a week-to-week or month-to-month basis (this is known as a periodic tenancy).You are a regulated tenant if you moved in before 15 January 1989, you pay rent to a private landlord and your landlord does not live in the same building as you.

Remortgage
The taking on of a second mortgage to pay off the first. The most common reasons for doing this are that another mortgage is available at a better rate or that the value of the property has gone up allowing for the opportunity to borrow more money against the property.

Right to Buy
For example, a tenant in a council owned property may purchase the property at a discount depending on length of their tenancy.

Self Certified
Generally when a borrower applies for a mortgage he or she will be asked to provide pay slips or company accounts to prove their income. If it is difficult or inconvenient for you to provide this evidence, you can choose to self-certify your income. This involves signing a declaration which states your income sources and amounts. Lenders will charge you higher rates than average and offer you a limited range of mortgages if you choose to self-certify your income, in general it's not a good idea to self-certify just to avoid some paperwork.

Stamp Duty
Tax paid by the buyer of a property set at 1% for properties over £60k, 3% for properties over £250k and 4% for properties over £500k.

Structural survey
The most wide ranging check of the structure of a property. This is carried out by professional surveyor and should uncover any defects or faults with the building.

Tenancy
A legal written agreement between a landlord and tenant that sets out the terms of the rental.

Term
The period of years over which you take the mortgage and repay it.

Term Assurance
An insurance policy designed to repay the mortgage on the death of the insured person. Level Term Assurance covers a principal sum throughout the policy term and pays out the full amount on death. Reducing Term Assurance is designed to repay the balance outstanding on a repayment type mortgage upon death. Term Assurance may also pay out early on the diagnosis of a terminal illness.

Underwriting
The process of evaluating a loan application to determine the risk involved for the lender. This involves an analysis of the borrower's creditworthiness and the quality of the property itself.

Unencumbered
Where the property is owned outright and no mortgages or loans are secured against it.

Valuation
A simple check of the property in order to find out how much it is worth and whether it is suitable to secure a mortgage against.

Valuation Fee
The fee paid by a borrower to cover the cost of the lender checking that the property is suitable security for the mortgage.

Variable Rate
A type of interest rate the lender can charge. It goes up and down and your repayments change accordingly.

Vendor
The person selling the property.

================================================================================
Debt problems? need a loan? mortgage help? not sure in what to invest? Our General Finance Guide may have the advice you've been searching for in our hundreds of useful articles.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

The Google Algorithm Revealed

2005-06-05T19:01:00.000Z

How many years did you register your domain name for? If it's only one then that's a point against you in Googles eyes.

Why?

Because the majority of Spam websites only register a domain name for one year. A domain registered for a longer period implies that the owner is more likely to be legitimate and serious about their web site.

This is just one of the unusual factors now considered by Google when indexing and ranking a website. Factors you could never even have guessed at in some cases.

How do I know this?

Google have recently filed United States Patent Application 20050071741 on March 31, 2005.

read more

Debt a Glossary of Terms

2005-05-28T18:11:00.000Z

How easy is it to get a Commercial Mortgage in the UK?

2005-05-24T15:11:00.000Z

As is the case when applying for any mortgage, be it a residential or a commercial mortgage, the better your credit and the better the collateral, the easier the process becomes. But that doesn't mean that if your credit is less than perfect, or you want to purchase commercial property in a less then desirable part of the city, that you are automatically locked out of getting the money you need. It just means that you need a "friend" in the business.

When you are applying for a commercial mortgage your potential lender will consider your credit rating, your business' balance sheet, the purpose of the loan, and the type and location of the proposed property as well as that property's appraised value. If every one of these items do not fall within the lender's acceptable guidelines then you may get a "no thank you" instead of a pile of money. Considering the amount of paperwork that you may have to complete in order to get a decision, be it a positive or negative one, you want to make sure that you have the best chances of securing that loan before you even start.

And that is where having a "friend" in the commercial mortgage business comes into play. If you were going duck hunting, and only had one shell with you, then you'd better be a pretty good shot. On top of that, you'd better not be planning to serve roast duck to a crowd because you're only coming home with one duck if any. Oddly enough, the same holds true when you are applying for a commercial mortgage.

Different lenders have different requirements for granting an approval. Since your goal is to make getting a commercial mortgage loan approval as easy as possible then you need to carry more than one shell with you. The best way to do that is to use the services of a commercial mortgage broker. A broker represents you and submits your commercial mortgage loan application to many lenders. Your "one shell" turns into a whole case of ammo as your application makes it across the desk of potentially hundreds of lenders. The odds are greatly in your favor that you are going to get an approval from at least one lender and, the truth is, many borrowers end up with several interested lenders and can actually negotiate the terms and conditions which suit them exactly.

Since your commercial mortgage loan broker doesn't earn their fee unless you get approved, they work with you to make getting a commercial mortgage loan as easy as possible. And, since the broker gets paid by the lender and not you, there is absolutely no reason not to engage their services.

Even if you had access to the same quantity of lenders as a broker does, you would have to fill out a separate commercial mortgage application and submit it to each lender. That process alone would take you more time than it takes to drive across the continent. A broker uses the same application and sends it to all of their lenders. That fact alone makes it easier to get a commercial mortgage than doing it yourself does. Even better is the fact that the broker already knows the terms and conditions that each of their lenders utilize. The broker will only send your application to those lenders whose qualifications you already meet.

Just like with everything else in life, there is an easy way and a hard way. If you're looking for the easy way to get a commercial mortgage loan then I suggest finding the best broker for your needs and let them do all the work. It doesn't get any easier than that!

About the Author

Specialists in Bridging Finance and Commercial Mortgage lending Commercial Lifeline. Independent UK based Commercial Finance brokers.

Feel free to reprint and distribute this article as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

Bad Credit Mortgage

2005-05-19T12:29:00.000Z

Self certification, Adverse credit, bad credit need help. Try the friendly people at Riversdale Mortgages Ltd. They'll be happy to help.

157 Debt Consolidation and Debt Relief Articles

2005-05-11T20:46:00.000Z

Just some examples -

# Assess Your Financial Attitude and Eliminate Your Debt Forever

# Why You Should Get Out of Debt Today?

# Bankruptcy As An Option

# Bankruptcy: Which Chapter Do I File?"

90 useful Insurance related articles

2005-05-02T23:58:00.000Z

choosing-buy-to-let-property-insurance

choosing-affordable-health-insurance-for-children

choosing-the-best-life-insurance-option-for-you

How To Spot A Good Property Buy

2005-04-17T12:08:00.000Z

Beauty is in the eye of the beholder, particularly when it comes to buying a home. Features that attract one home-buyer may repel another.

However, the one feature of interest to every home-buyer is price. Getting the most home for your money is paramount. The real problem is figuring out whether that fixer-upper on one street is a better buy than the home in next-to-new condition two blocks away. Thats why knowing what to look for before you buy can save you time, energy and money down the line....

read more

Get 3 Months Free House Insurance

2005-04-14T12:54:00.000Z

Just discovered this House Insurance company offering 3 months free house insurance.

Understanding Bridging Finance

2005-04-13T08:47:00.000Z

Bridging finance, also referred to as "bridge loans" and "bridging loans", have nothing at all to do with re-constructing the London Bridge. Bridging finance is typically a short-term loan that a business uses to supply cash for a real estate transaction until permanent financing can be arranged. The word "bridge" conveys the fact that the loan is designed to get you over a temporary obstacle. A typical use for a bridge loan is to cover situations such as when a company needs to close on a new office building before having sold their old one. They would use the proceeds of the bridge loan to continue making payments on the old building until it is sold.

Bridging finance almost always requires that you pledge some sort of collateral as security against the loan. You could offer up commercial or private real estate that you own,or are in the process of buying, machinery and office equipment or even existing inventory. If you have outstanding business and personal credit, as well as an outstanding relationship with your lender, you might be able to secure your bridge loans on just a signature.

Because the need for bridging finance sometimes arises suddenly and without warning, it is a good idea to establish a relationship with a lender before the actual need arises. When you do this you can arrange to be pre-approved for a specified loan limit. Later, when the need suddenly arises, you won't have to wade through all of the red tape. The typical term for a bridge loan runs from a fortnight to as long as two years. Of course, any terms can be negotiated and a motivated lender will work hard to match your needs.

Since bridging finance usually lasts for a relatively short period you may find that the interest rate you are being asked to pay is slightly higher than a more conventional type of loan. Lenders make their profit by charging interest across the life of the loan. The shorter the loan period the less interest they earn. As a result many lenders will often boost the rate by a 1/2 point or more. In general, the length of the loan, the amount of risk that is present for the lender, the quality of your credit history and the liquidity and value of your collateral all are used to help determine the interest rate.

Your best bet for securing a bridge loan at the most favourable rates and terms is to work if if you want to improve, be content to be thought stupid and foolish

with a qualified UK Commercial Mortgage Broker who understands the ins and outs of bridge loans. That way you can get your application in front of as many lenders as possible and end up with several who are willing to compete for your business.
---------------------------------------------------------------------
Author:- Bridging Finance and Commercial Mortgage experts Commercial Lifeline.

Download our free US Commercial Mortgage Guide by visiting our Commercial Mortgage Guide page.

This article comes with reprint rights. You are free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.

Bridging Finance UK

2005-04-12T21:15:00.000Z

Bridging Finance
Borrowers of any financial status will be considered;
Adverse credit records and self-certification accepted;
No redemption penalty option;
Rates from 1% per month;
Min £25k+, Max unlimited;
Residential and commercial land and property;
1st or 2nd charges;
Up to 70% OMV;
Interest roll-up available;

Pay the Minimum for Life Insurance

2005-04-12T09:03:00.000Z

"How would you like a £25 Marks & Spencers voucher FREE?"

Loan Advice

2005-04-08T14:39:00.000Z

"Loan help and advice

This is our directory of useful loan articles covering everything to do with loans both secure and unsecured. You are bound to find some useful and helpful information here. We try to be as broad and helpful in the loan related articles we choose to publish."

How to Survive with your Online Business

2005-04-07T11:41:00.000Z

Whats The Best Product To Sell Online?

How To Survive With Your Online Business

Debt help and advice

2005-04-07T10:26:00.000Z

Debt is a major problem these days. Our debt articles offer advice on dealing with debt. How best to consolidate debt and debt relief are major topics."

WebsiteTraffic, Fastest route to better Finances Online

2005-04-05T16:40:00.000Z

Something BIG is about to happen in Internet Marketing. Something never seen before. What is it?

Last year one guy, John Reese, made over $1 MILLION promoting his product in one day online, through his single page website!!. He's about to make the same again if not more. As he opens his new site today at 9am EST with a product relaunch.

How can he do this?

Well he has 125 lengthy gushing testimonials from past customers. Yep125! customers from 52 different countries all on the same page. This makes some awesome reading. I personally own this product and these testimonials are absolutely genuine, I'm priveleged enough to be part of a closed forum for John's customers and explosions in income are a day to day posting there. Honestly.

I've also been priveleged enough to receive a sneak peak at the new site pre-launch and you will be gobsmacked at some of the claims on there.

There's the teacher that now earns 5 times his salary just after following the first three things mentioned in John's course. He's on track to make a $1 Million himself this year.

Lots of story's about going from 100 to 1000 visitors a day.

One guy managed to get up to a 50k increase in site visitors.

18k extra in sales.

85% extra in sales.

Zero to $60k a month in profit.

Lots of testimonials from complete newbies too, that are absolutely stunned with what they've just done with their businesses.

The list just goes on and on I only scanned down as far as testimonial 28.

I recommend you go take a look at this now - traffic secrets

I personally turned my weekly income figure into a daily income figure thanks to this product. I'm no slouch when it comes Internet Marketing and I've been around and checked out all the major 'gurus'. But get this, John Reese is their guru.

Need I say more.

If you want to seriously change your life and make money online John Reese is the man to look to.

But I haven't mentioned what his product is, view a short article I wrote about John's product here

I can't emphasize enough the difference this product could make to your life. I'm trying not to make a sales pitch here. This is a genuine honest statement.

Check out his site and see for yourself.

Five Major Ways to Save Money

2005-04-05T10:53:00.000Z

undefined: "Five Major Ways to Save Money

There are two main roads to improving your personal finances: increasing income, and cutting costs.

Increasing income is the harder road to travel. After all, you can't always get a raise or a new job when you need one.

But cutting costs, that's a different story!"

Business Growth in 5 Easy Steps

2005-04-05T09:17:00.000Z

undefined: "Business Growth for Financial Planners in Five Easy Steps

Attracting new business: sometimes it happens by luck, sometimes by referral. Trouble is, 'sometimes' just isn't often enough."

Make Money with Turn Around Properties

2005-04-04T23:41:00.000Z

undefined: "Making Money With Turn-Around Properties

What is a turn-around apartment? One that you spin on the tip of your finger? Nope, usually a turn-around property is one that's distressed -- but has potential. Can you fix all properties and make them better? I don't think so, but this article will give you an idea of how to do it successfully."

Is it time to stop filling your Landlords Wallet?

2005-04-03T19:34:00.000Z

As a renter, you are subject to the whims of your landlord. They work at their own pace, and improve their property as they see fit. You have no control over the property that you reside in. Do your floors need to be resurfaced or your carpets replaced? Sit around and wait for your landlord to do it. Do your walls need to be repainted? Ask the landlord.

It sometimes feels like youre living at home with mom and dad again, doesnt it?

So, its just easier to keep paying rent, right? Dont forget . . . the landlord can raise rent on you over time.

You can afford your own home!

Unfortunately, most people fear that qualifying for a loan will never happen. This is not true. Competition between lenders has increased drastically, causing them to come up with more and more products. There is likely a product out there to help you afford your own home! You just have to do some work and find the right information.

While owning your own home may take some work, it is certainly worth it

* You can deduct the cost of your mortgage interest from your taxes
* Closing costs involved with the purchase of your home, and property taxes are often deductible
* Historically, real estate prices have been cyclical, but over the long term, prices have generally risen.

Think about it . . . if you pay $600 a month, your landlord ends the year with $7,200 of income from you alone. After five years, thats $36,000 that youve paid out (odds are your rent would have gone up over that period, so the amount youve paid out is likely much higher.) From this money, your landlord is not only getting income, but also getting tax deductions, business write-offs, and capital appreciation. Youre busy making him rich! Dont get me wrong, you did have a place to sleep at night . . .

Okay, so I definitely have an opinion here. Do whatever you can to get out there and find a home to buy! You and your wallet will thank me.

Remember: Make sure you do not stretch yourself too thin with your payments. Buy only what you can afford. Be sure to consult with an attorney or accountant to protect yourself.

Learn more about investing in real estate at BiggerPockets.com Real Estate Investing Community - http://www.biggerpockets.com. Discuss any real estate issues at our investing forums - http://biggerpockets.com/ipw-web/bulletin/bb/.

This Article may be be reprinted in its entirety, but reprints must contain the included weblinks.

About The Author

An avid real estate investor, Josh Dorkin is the creator of BiggerPockets.com Real Estate Investing - http://www.biggerpockets.com.

Find out more about mortgages.

Inexpensive Life Insurance To Protect What Youve Earned

2005-04-02T14:58:00.000Z

Adequate life insurance to cover your income producing ability is a product that is really needed today to give peace of mind. Life insurance was originally conceived to protect a man's family when his death left them without income. Over time is has developed into a variety of policy plans. In a "whole life" policy, fixed premiums are paid throughout the insured's lifetime; this accumulated amount, augmented by compound interest, is paid to a beneficiary in a lump sum upon the insureds death; the benefit is paid even if the insured had terminated the policy. Under "universal life," the insured can vary the amount and timing of the premiums; the funds compound to create the death benefit.

With "variable life," the fixed premiums are invested in a portfolio (with earning reinvested), and the death benefit is based on the performance of the investment. In "term life," coverage is for a specified time period (e.g., 5-10 years); such plans do not build up value during the term. Annuity policies, which pay the insured a yearly income after a certain age, have also been developed. In the 1990s, life insurance companies began to allow early payouts to terminally ill patients. In other words, a policy holder with a grave illness could now access some of their life insurance funds to use as they choose.

Weve searched all over the web and have located a few quality companies that we feel are not only financially sound and secure, but which also offer competitive rates. You dont need to even sit down and visit with an agent, all the information gathering and work can be done over the internet.

Youll find the best life insurance for your needs that will comfortably fit into your budget. Solid life insurance will give you peace of mind and confidence.

About The Author

Mike Yeager, Publisher

http://www.a1-insurance-quotes-4u.com/

Find more Insurance articles

How To Get Free Advertising By Giving Away Content

2005-04-01T13:35:00.000Z

Giving away content is a powerful way to get free advertising. For example, give other people permission to use your article on their web site or in their e-zine. The resource box at the end of your article acts as an ad. In return, you get free advertising. It's a win/win situation for both you and the people that need the extra content.

There are many forms of free content. It could be articles, reports, news stories, e-books, e-zines, e-mags, virtual e-mail courses, press releases, web books, etc.

You can take it a step further and make giving away content an even more powerful way to get free advertising. For example, give your free e-book to one person and allow them the rights to also give it away. Do you see what I'm leading up to? Let's say only 20 people download your e-book. Those 20 people may give away your e-book to 20 more people. That's a total of 400 people that have seen your ad in the e-book. And it just keeps multiplying!

If you keep producing free content over a long period of time it starts building up. Now, take all your free content and create an online directory. You can use your free content directory as a web site traffic generator. You can ask people to add the directory to their web site by linking to yours.

In conclusion, giving away content gives you three powerful ways to get free advertising. You can submit free content, allow other people to give away your free content, or have people link to your web site to give away the free content. My advice is to take it one step at a time and this system will bring traffic to your web site over and over for years to come.

Follow the link for more ideas on making money online.

Or for daily updates try http://www.makemoneyonline.info

Understanding Bridging Finance

2005-04-01T13:14:00.000Z

Bridging finance, also referred to as "bridge loans" and "bridging loans", have nothing at all to do with re-constructing the London Bridge. Bridging finance is typically a short-term loan that a business uses to supply cash for a real estate transaction until permanent financing can be arranged. The word "bridge" conveys the fact that the loan is designed to get you over a temporary obstacle. A typical use for a bridge loan is to cover situations such as when a company needs to close on a new office building before having sold their old one. They would use the proceeds of the bridge loan to continue making payments on the old building until it is sold.

Bridging finance almost always requires that you pledge some sort of collateral as security against the loan. You could offer up commercial or private real estate that you own,or are in the process of buying, machinery and office equipment or even existing inventory. If you have outstanding business and personal credit, as well as an outstanding relationship with your lender, you might be able to secure your bridge loans on just a signature.

Because the need for bridging finance sometimes arises suddenly and without warning, it is a good idea to establish a relationship with a lender before the actual need arises. When you do this you can arrange to be pre-approved for a specified loan limit. Later, when the need suddenly arises, you won't have to wade through all of the red tape. The typical term for a bridge loan runs from a fortnight to as long as two years. Of course, any terms can be negotiated and a motivated lender will work hard to match your needs.

Since bridging finance usually lasts for a relatively short period you may find that the interest rate you are being asked to pay is slightly higher than a more conventional type of loan. Lenders make their profit by charging interest across the life of the loan. The shorter the loan period the less interest they earn. As a result many lenders will often boost the rate by a 1/2 point or more. In general, the length of the loan, the amount of risk that is present for the lender, the quality of your credit history and the liquidity and value of your collateral all are used to help determine the interest rate.

Your best bet for securing a bridge loan at the most favourable rates and terms is to work if if you want to improve, be content to be thought stupid and foolish

with a qualified UK Commercial Mortgage Broker who understands the ins and outs of bridge loans. That way you can get your application in front of as many lenders as possible and end up with several who are willing to compete for your business.

Author:- Commercial Mortgage and Bridging Finance specialists Commercial Lifeline.

Download our free Commercial Mortgage guides by visiting our Commercial Mortgage Guide page.

This article comes with reprint rights. You are free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the links above are intact.

Click here for more information on mortgages

No Deposit Home Loans

2005-03-30T22:11:00.000Z

A few years ago, many of us would have had a light chuckle to ourselves if someone mentioned that you could borrow money to buy a house with only the promise of solid future earnings. But today this is a regular occurrence. Many of the industrys non-conforming lenders are selling these financial products to many happy consumers, with most of the major banks avoiding this riskier route.

Ideally, the individuals set to gain from this product have high incomes in industries with high job security. With this loan you are presuming that the benefits of immediate ownership and debt outweigh the costs of renting. This may not always be the case however. The risk to the lender is greater and so you will pay a premium interest rate for the privilege, usually about 2% higher than the current market rate.

With this is mind, it may be time to clean the dust of the old mortgage calculator and assess the long term financial gain or speak to a financial consultant to establish whether this is a sound option for you, and for many people it can be.

Of course, there is no such thing as a free lunch and strictly speaking, no deposit means with enough money to cover initial expenses such as stamp duty, loan fees and mortgage insurance. If you are lucky enough to be eligible for a government first home buyers grant, you may have most of these expenses paid for you.

The main point with this type of loan is that to really win you are betting that your salary will be increasing steadily over the term of the loan. This income will then be able to be ploughed back into the loan to build some equity.

In many countries, such as Australia, no deposit home loans are becoming less attractive due to the state of the market. Lenders are becoming more stringent with their loan acceptance policies, indicating a potential interest rate rise and thus much greater risk to those with no deposit home loans. The lender may also have harsh exit fees, running into thousands of dollars so read carefully before you sign on the dotted line.

Many lenders also will only lend for specific types of property, leaving well alone riskier properties in regional areas and places with no established resale value.

Here are a few tips to help you manage your financial position.

- Allow for higher interest rates when budgeting for repayments over the next 2-3 years,

- Ensure personal debts like credit cards and car loans are under control before committing to a property loan, and

- Make extra repayments where possible to reduce your exposure to higher rates and falling prices.

About The Author

Brad Slade
More information available at http://members.ozemail.com.au/~lnart/

Find more Loan related articles.

Second Mortgage Loans

2005-03-29T15:57:00.000Z

A second mortgage is a loan that is secured by the equity in your home. When you obtain a second mortgage loan the lender will place a lien on your house. This lien will be recorded in 2nd position after your primary or 1st mortgage lender's lien, hence the term second mortgage.

A second mortgage is also sometimes referred to as a home equity loan. There is no difference between a home equity loan and a second mortgage. These are just two different terms for the same subject.

A second mortgage can either be a fixed-rate loan or an adjustable-rate credit line. Interest rates and loan program terms will vary from lender to lender so it is important to shop around and compare before committing to any one offer.

Loan proceeds from a second mortgage loan can be used for just about anything. Many consumers take out 2nd mortgage loans to consolidate debt, do home improvements or pay for their kids college education. Whatever you decide to do with your loan proceeds it is important to remember that if you default on your payment you can lose your home so you will want to make sure that you are taking the loan out for a worthwhile purpose.

Another plus of a second mortgage loan is that the interest you pay back on the loan may be tax deductible. Consult your tax advisor regarding your personal situation but in most cases the interest is 100% fully deductible as long as the combined loan to value of your 1st and 2nd mortgage do not exceed the value of your home.

For more information on second mortgage loans, or to compare rates and programs of second mortgage loan lenders visit http://www.equityloansource.com

Levetta Rivera is a successful author and publisher of http://www.equityloansource.com . An informational and resource site for home equity loans.

Click here for more info on Mortgages

How Creditors Measure Your Credit Rating

2005-03-29T12:43:00.000Z

Good credit is everyone's dream. A wise use of credit can go a long way. It certainly makes certain goals in life (like acquiring business loan from bank) easily attainable.

But the key question remains: "What does it take to achieve 'Triple A' credit?"

First and foremost, it is important it is critical to point out where most people go wrong when it comes to their credit and credit report. People with bad credit will usually seek credit repair help. Most would seek credit expert advice and few will try to do it themselves by purchasing a credit repair book.

Mainly, the problem is not the type of help you hire, rather the assumption you are left with after the whole credit repair process. Where most people go wrong is that once their credit report is free of any negative entries (or errors), they simply assume that they now have an excellent credit.

That's simply untrue.

In reality, your credit is not bad because you now have managed to erase the negative entries that was shown on your credit report before. At the same time, you do not have ' Triple A ' credit either. Unless, you have positive items or entries showing on your credit report.

And the key to a successful credit repair is not just getting rid-off the negative entries on your credit report, but rather to show-off that you have multiple positive entries on your credit report that can buy the confidence of your bank to loan you their money.

You can find numerous articles dedicated to guiding through the credit repair process, but few will discuss further than just repairing your credit. Meaning few will tell you (better yet, know about), "How to add positive entries to your credit report?".

It is very important you understand that, you can repair your own credit and make it flawless, better than anyone ever could. Today, there is so many help on credit repair help, but not all are legitimate help. And it is extremely important to keep that in mind.

If you want to avoid getting chopped-down by bogus repair companies, take the following two statements as an advice that will serve you a long way.

1- There is no law available to any credit repair company, expert, or attorney - that is not available to you as the credit consumer. 2- Credit repair companies use the same law made available to you by congress to repair your bad credit. And they certainly can not change the law for their clients.

The above two simple statements might seem obvious, but repeating them like a mantra can be the difference between getting ripped-off and getting the 'Triple A' credit you deserve.

Back to the main point - "How To Achieve Triple A Credit?"

Here you will learn two powerful and proven ways that will give you a sterling credit in the shortest time possible - 25 Days. Apply the following two techniques and, guaranteed, you will give your credit a face lift that would have banks open their check book.

1. A Millionaire's Credit in 25 Days.

Do you have a checking account and a savings account? Good. If you don’t, no worries, these days you can open an account online. It should take you no more than 5 minutes. You got your accounts opened? Good, now comes the second phase.

Phase 2: Now you will need your savings account to use it as a collateral. Now using your savings account ask your bank for a secured passbook loan.

You can borrow a dollar for dollar with a passbook loan. This type of loan works well with as little as $300, but if you have $10,000 - that’s even better. Once you secure a loan with a passbook you can not touch the funds until you have fully repaid the loan. Remember, you should be able to do with-out these funds for 30 days. A bank secured with your passbook loan has no risk in lending you money, so any bank should be willing.

Note: It is extremely important that the bank reports your loans to the credit bureau. Therefore ask your bank "If they report your payment history to the three credit bureaus?", it is critical part of this whole process. After all, the whole purpose of you doing this is to add zing to your credit report with a very powerful and positive payment history, right?

Now once you borrow the money, wait 25 days and repay the loan back to your bank. Because you have fully repaid your loan the bank will send your positive payment history to the credit bureau.

That's a grand slam!

Now you have the bank as your friend and the credit bureaus can not help it but report your good payment history.

2. How To Use $500 - $1000 into A Millionaire's Credit

With let’s say a $1,000 in your account, ask the loan officer for a 12- month a $1,000 passbook loan. Do not be discouraged, you can certainly achieve this with less money, but if you can afford to do it don’t hesitate. By the time you’re done with this technique - - - well it’ll be all worth it. Just wait and see. Since this is a secured passbook loan (meaning, it is secured by the amount of money available in your savings) most banks will not run a credit check. And if they tried to do so explain it to them why they should not as it is secured by the money you already have in your savings account. Which you won’t be able to access until you payoff your loan anyway, so there is no justified reason to run a credit check. Now with the $1,000 secured passbook loan from your first bank, open a savings account at another bank with the $1,000 loan received from the first bank.

The request that they give you a $1,000 12-month loan and do not mention the loan received from the first bank. Wait about a week or two, go to a third bank and repeat the process.

Next, at one of the three banks open a checking account with the $1,000 you received from the third bank. You now have a$1,000 in a checking account and three outstanding 12-month loans at three different banks – for a total of $3,000. Deduct your original $1,000 and you need only repay $2,00 plus interest.

Note: Make sure that you ask your bank if they have a pre-payment penalty because you do not want that.

Finally, about one week later start to pre-pay your three loans.

Now you have an advance payment record with three banks and will have established powerful credit for your credit report. From now on every type of loan and credit card will be yours for the asking. Here you are with un-touchable credit, three big banks as your future business friends, and a credit bureau reporting positive payment history – all in just under 30 days. You just learned about one of the very few techniques that can change your credit significantly within a month time. Of course you can apply these techniques for as long as you like and keep improving your credit. Apply these techniques discussed and you will get the Triple A credit you deserve.
------------------------------------------------------------------------------------
© Copyright -http://www.deleteuglycredit.com You have permission to publish this article electronically or in print, in your Newsletter, on your website, or in your E-Book, as long as the author's Resource Box is included with the article.

About the Author
Omar M. Omar is the owner of http://www.deleteuglycredit.com and - Author of "The Credit Repair Bible" book. The website is dedicated to providing credit consumers free advice on how to repair credit. It also provides credit consumers numerous information about their credit report, credit laws, and their rights as a consumer.

Click here for more articles on credit related issues

4 Simple Ways to Solve Your Debt Burden

2005-03-29T11:47:00.000Z

Getting Behind
Getting behind on your debts owed can be a very frustrating and trying time for you and your family. Depending on how far behind you are, there are other repercussions, such as your credit rating, that will affect you further down the road.

Examine Why
Why did you get behind in the first place? This is a very important question in helping you understand what you need to do to get out of this predicament, and prevent your self from getting into the same or similar situations in the future. Was it your spending habits or not properly planning for emergencies? In any case, track down the cause, change your spending habits, and you will bring about a different effect.

Create a Budget
The necessary evil. This is where many people get tripped in planning for their financial future. Creating an accurate budget allows you to see exactly what is coming in and going out. It allows you to see what you can put away for Christmas, birthdays, office parties, etc. When trying to determine how to pay your debts, this is one of the first steps towards and informed decision.

Cut Your Bills in Half
Sometimes, it may come down to paying on the debt or eating. We know who wins this. The way I have found that both sides can somewhat win is to split your debt payment into two. If you get paid this week on Monday, talk to your creditor and ask if it is possible for you to pay half this check, and half the next. Rather than get nothing at all, most creditors will agree.

Add a little extra each payment. If you have a bill that costs you $50 a month, sending $30 each pay period probably will not hurt you as bad, and you begin to get ahead of your payments if you pay the little extra. Getting ahead of your payments can save you money on the interest that you are paying, provided you note the extra money is toward the principal. Some companies apply the extra money accordingly, whereas others need it to be specified.

Get Money Wise
For you to be reading this article, lets me know that you are working on this. Read as many articles and books as possible, as this is your ammunition to fight the war against debt. Also, you may be able to help someone else overcome these issues such as a loved one.

Take Action Today!
There is no better time than the present to get started. The sooner you begin your financial action plan, the sooner you will be saying good bye debt, hello financial freedom.

------------------------------------------------------------------------------------
Gordie Prescott is a motivational speaker and success coach in the areas of personal, career, and financial success. Gordie also owns GordiePrescott.com and the Money Matters website.

Click here for more Debt help and advice. Click here for more General Finance help and advice