Finance, Loan, Debt and Credit.

February 13, 2018

Using Your Home Refinance Loan For Debt Consolidation

Filed under: Loan — Tags: , , , , , , , , — admin @ 12:46 pm


With today’s economy it can be difficult to get a new mortgage, but securing refinancing for your existing mortgage is not quite as difficult.

One of the ways that many people consolidate their debt is by refinancing their homes and then securing additional funds through that refinance to pay off existing debt.

Hector Milla Editor of the “Best Debt Consolidation Services” website — http://www.BestDebtConsolidationServices.net — pointed out;

“…One the surface this may seem like a very good idea, and if it is done through a debt consolidation professional then they can assure that it is done properly and can be a winning situation for you and your finances. But there are a few things to consider as you attempt to refinance your home to consolidate your debt…”

If you are getting a 15 or 30 year mortgage, then you need to consider whether or not the debt you are putting on your refinance needs that long to be paid off. Of course, a mortgage will carry a significantly lower interest rate than a credit card but there is a chance you could secure other financing to pay off that credit card well in advance of the terms of a mortgage. The closing fees and other charges associated with a mortgage are dependant on the total cost of your mortgage, and if you add more cost to that mortgage then you will pay more fees at closing. If you roll your closing fees into the refinance, then you just added to your 15 or 30 monthly payment as well.

“…A refinance is a great option for paying off long term debt. But if you have other kinds of debt besides long term loans that you are paying off, then you may want to sit down with a debt consolidation company and discuss all of your options. It may turn out that a refinance is not your best choice after all, and a debt consolidation professional will help you run through you whole list of choices to help you decide on which one is the best. A full term mortgage is a very long commitment, so be sure that you understand what you are signing up for before you put your signature on the dotted line…” added H. Milla.

Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationServices.net

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

October 10, 2017

Using Tax Accounting Software to Produce Self Employed Tax Returns

Filed under: Tax — Tags: , , , , , , — admin @ 12:47 am

Terry Cartwright designs tax accounting software for self employed accounts and company accounts that produce automated tax returns. Simple automated tax software designed to produce accounting solutions and self assessment tax returns for business clients, accountants and bookkeeping services.

December 10, 2016

Kids Using Parents Credit Cards Online

Filed under: Credit — Tags: , , , , , — admin @ 12:47 am

CPP, the online identity protection company have warned parents that they might be at risk of identity fraud due to their children secretly using their credit cards for online purchases, subscriptions and games.

Regulated by the Financial Services Authority, CPP carried out an extensive survey which shockingly revealed that around 23 per cent of children have secretly used their parents credit card online.

In addition, they found that a massive 77 per cent of children in the UK use the internet completely unsupervised.

This can put the parent at huge risk, as younger people are often not aware or are at least less aware of the risks of identity fraud.

According to the research, children are much more likely to post credit card details recklessly and take much less persuasion to part with vital personal information.

If they are using their parents credit cards this can mean that the sensitive personal ID authentication details of their parents are left vulnerable to phishing and identity fraud attacks.

CPP and the Financial Services Authority urge parents to keep a close eye on their child’s internet use and when they give permission for their children to use their credit card online to ensure that It is being used on a trustworthy site.

Michael Lynch, CPP fraud expert commented: “They are putting up credit card details and home address details on the internet which can be used by fraudsters, whether it’s through phishing attacks to either sell the data or commit fraud using their credit card details.”

In order to combat growing online fraud, parents must familiarise themselves with safe internet use and ensure that their children are not revealing their personal details to anyone unnecessarily online.

While it is clear that it is not possible to watch children 24/7, it is possible to keep a close eye on your credit card and only allow it to be used on reputable sites.

That is not to say that online purchasing should be ruled out, as it is often cheaper, more convenient and offers more choice than the high street, it is simply wise to do your research before making or allowing others to make an a online purchase.

Experts advise that if a website is secure and it is safe to enter your credit card details, the web address should start with https:// instead of http://. The ‘S’ indicates that the site is secure and your details will be safe.

Citi Group has this advice for safe online credit card use:

1. Check for your browser’s symbol, such as a padlock or key, indicating you’re on a secure site
2. Look for privacy statements on each merchant website to learn what information is being collected and how it will be used
3. Review Citigroup’s Information on Privacy as an excellent example
4. Get referrals from your friends on their favorite shopping websites
5. Check with your state/local consumer agencies or the Better Business Bureau before buying if you don’t know the merchant
6. Look for customer feedback on the merchant’s website
7. Use secure sites that encrypt, or scramble, all information until the receiver unscrambles it. For example, we use 128-bit encryption for security purposes

August 21, 2016

Benefits Of Using An Independent Whole Of Market Mortgage Broker

Filed under: Mortgage — Tags: , , , , , , — admin @ 12:50 am

Copyright (c) 2010 Steve Wentworth

Introduction?The purpose of this article is to explain the benefits of seeking independent mortgage advice when looking to either purchase or remortgage a property.

So what are the different types of mortgage advice and where would you expect to find them? Non-advice – This type of mortgage broker offers the least consumer protection, they will simply ask a set of questions to narrow the customers requirements and thus filtering the number of mortgages available. They then present the customer with a small list of possible mortgages for the consumer to choose one appropriate. The consumer protection here is based on the script of questions the broker asks the script is a process determined prior to the consumer appointment and is impersonal therefore specific personal cirmcumstances are likely not to be assessed. It also assumes that the customers answers are factually correct and the final choice is made by the consumer (some further knowledge may be required by the consumer). Although no advice is offered these brokers do handle the arranging of the mortgage on the consumers behalf, and therefore dealing with all the chasing and removing stress from the process. Where would you expect non-advised brokers to exist? Well believe it or not many non-advised brokers are within the high street banks and building societies.

Advice-onlyThis type of services is where a mortgage adviser uses their knowledge and skills to provide the most suitable mortgage to suit a consumers personal circumstances. This will involve a full fact finding interview, affordability accessment, discussion on the consumers future plans and asperations, all of which provide key facts on a consumers requirements, and therefore a means for the adviser to identify suitable products. The adviser will not however, handle the arranging of the mortgage, and therefore the consumer would need to deal directly with the bank or buildings society to arrange the mortgage. These advisers generally do not exist alone this is often a service provided through the ‘Independent mortgage adviser’ type below. And often comes about when the most suitable mortgage is only offered direct through high street (i.e. not through mortgage advisers/brokers). The adviser would therefore offer an advice-only option to the client and often charge a fee for this service. Although the client must deal directly with the bank or building society they mortgage adviser often provides support to the consumer.

Tied mortgage advisersThese come in two forms ‘only offering mortgages from one lender or its own mortgages’ or multi-tied ‘only offer mortgages from a limited number of lenders’. This clearly limits the number of mortgage products available to match a consumers personal circumstances and in a lot of cases they may not be able to offer the most suitable mortgage product and therefore advice may result in the best mortgage they can offer, this could be woefully inadequate. Again found in high street branches. A consumer calls into their local building society branch and their in house mortgage adviser can only offer mortgage products from that building society. Consumer choice and mortgage product suitability are considerably reduced. Whats more high street branches often offer low mortgage rates/fees as a loss leader (marketing term to bring in business) and then try to sell their tied insurance products which are often also woefully inadequate and expensive.

Whole of market adviceBy far the best coverage these advisers can offer mortgages from all the UK mortgage lenders (having mortgage adviser/broker routes). The vast amount of mortgages available through these advisers is likely to cover the individual circumstances of a consumer. Whole of market mortgage advisers offer advice through conducting a full fact finding interview, affordability accessment, discussion on the consumers future plans and asperations and then can arrange the mortgage through the lender thus aleviating the stress which comes when purchasing a house. These advisers are usually separate firms often found in the yellow pages or through the internet they are sometimes linked to estate agents on an initial meeting mortgage advisers should declare if they are whole of market and this will be disclosed in the ‘Initial Disclosure Document’ they provide you. If you are not sure if an adviser is whole of market then ask them.

Independent whole of market mortgage adviserFinally this type of adviser has the ultimate scope of the mortgage market, not only can they offer mortgage advice from the whole of market (lenders with mortgage adviser routes) but can also offer an advice only process if they identify a high street direct deal is more suitable. The ‘Independent’ statement indicates that the adviser must offer the consumer a fee based service if required. This means that rather than the adviser taking commission as payment for the mortgage advice, the consumer can opt for paying a broker fee and any commission rebated to the consumer. The benefit of the fee based service is the consumer knows the adviser will not be swayed by higher commssion mortgage products when selected a suitable mortgage, however these days this is highly unlikely as the mortgage advice must prove to the regulator why a particular mortgage is most suitable. Some occassions where the commission is quite considerable this would mean the consumer could receive more money than the broker fee paid and therefore would be better of taking the fee based approach. Like the author of this document Independent mortgage advisers are usually separate firms often found on the high street, yellow pages or through the internet they are sometimes linked to estate agents. On an initial meeting an independent mortgage adviser would declare that they are whole of market and that they offer a fee based approach if required and this will be disclosed in the ‘Initial Disclosure Document’ they provide you. If you are not sure if an adviser is independent and/or whole of market then ask them.

What do independent whole of market mortgage advisers do for consumers:

1.Treat customers fairly.2.Support and inform the consumer from initial enquiry right through to completion and beyond.3.Take time to gain detailed knowledge of the consumers personal circumstances and aspirations.4.Provide impartial, expert, external scrutiny of mortgage products.5.Identify when the consumers personal circumstances do not meet the criteria of specific lenders.6.Can identify the most likely lender in unusual situations, thus avoiding the need for multiple credit checks.7.Assist in calculating affordability, ensuring that consumers can afford their mortgage and protection commitments, along with their other commitments.8.Provide useful advice on the housing market in general such as dealing with price negotiation, leasehold issues etc.9.Expert guidance in complex scenarios (shared ownership/shared equity, right-to-buy, adverse credit).10.Protect the consumer from corporate sales tactics used by some lenders and estate agency chains.11.Provide a fully personalised service tailored to individuals needs, not a faceless flowchart “one size suits all” (non-advised) service.12.Understanding the urgency of some transactions and “go the extra mile” to meet deadlines.13.Advise consumers not to do things that may not be in their long-term interest.14.Work for the consumer – estate agents, lenders and to some degree, solicitors have a different agenda.15.Explain the features and benefits of different mortgage and protection options.16.Choose the best products, from multiple providers for each aspect of a consumers mortgage and protection needs, and thus increasing their ability to afford their commitments, even when things go wrong.17.Select the best protection providers for consumers with health issues or unusual insurance histories.18.Highlight unusual exclusions on protection and general insurance products.19.Perform data input/entry for the consumer, minimising errors, omissions and non-disclosure.20.Ensure the provision of appropriate and customized protection products.21.Collate, verify and provide documentation for the lender to minimise delays in processing, speeding up the process for the consumer.22.Liaise with other parties in the transaction and ensure that consumers are kept up to date with progress and developments.23.Use past knowledge and awareness to predict problems and resolve them in advance.24.Act as advocate for the consumer during the application process.25.Explain the mortgage offer and assist in fulfilling the offer conditions.26.Quickly find an alternative lender if declined without wasting the consumers time.27.Free to act based on conscience and fairness as not usually directly targeted on specific areas.28.Take responsibility for the advice and recommendation provided, thus increasing consumer protection.29.Can arrange property insurance in ample time to be ready for exchange of contracts on purchases.30.Can find appropriate lenders and insurers for unusual properties ( thatched roof, flying freehold flats etc).31.Protect consumers from aggressive third-party marketing.32.Protect consumers data and privacy.33.Provide general support during what is acknowledged to be one of the most stressful events in life.34.Often personally available outside of normal working hours to answer questions or resolve issues.35.Provide a knowledgeable “Ally” in what can be a very worrying process.36.Encourage competition and innovation from lenders.37.Care about consumers and provide an ongoing long-term service, often several generations of the same family.

June 5, 2016

Using a Consolidation Loan to Better Your Credit

Filed under: Loan — Tags: , , , , — admin @ 12:48 am

A consolidation loan is a way to pay off all your debts and roll them into one payment. With a consolidation loan a person is immediately satisfying their outstanding debts and starting a new account on their credit. It can be a very good option for someone who is buried in debt and having problems. A consolidation loan can save a person form falling into the bad credit trap.
A consolidation loan is specifically for the purpose of consolidating debts. What happens is a person figures out the total amount of their debts, gets the consolidation loan, pays off their debts and then has only the one loan payment to make each month. It seems quite simply, but there are some considerations to make when getting a consolidation loan.
If a person is starting to have credit problems due to their debt they may find it is hard to get a consolidation loan. They may end up having only offers for high interest loans. It is important for a person to consider their options. One of the biggest things is they need to decide if they need a smaller monthly payment or if they want to pay less overall.
If a person is having financial problems currently then a smaller monthly payment is probably the best option. In that case a consolidation loan is perfect since a consolidation loan will likely cost less per month then paying each debt separately.
If a person is not having financial problems and is concerned about the amount they will end up paying overall then a consolidation loan is probably not going to be the best bet unless they can get a good interest rate. This is because the consolidation loan will likely carry more interest charges then each debt separately.
It also matters about the type of debt. Credit cards carry very high interest rates, so consolidation loans for credit card debt is perfect. The consolidation loan will save a person a lot of money in interest charges. Other debts, though, may have way lower interest rates then a consolidation loan, so it is really something to consider before getting the loan.
A consolidation loan is something that should be considered carefully. It is important that a person decides if they are gong to consolidate all debt or not. They also must look at how a consolidation loan will affect them financially. Taking out a consolidation loan can be a great thing if a person can afford it and it makes sense for their situation. However, if a person jumps into a consolidation loan without planning they may end up in more financial problems then they were before the loan.
A consolidation loan can be a life saver if used correctly. It is really a matter of understanding how the loan works and if it is a good choice for a particular situation. A consolidation loan may just be the answer to your financial problems or it could be a bad choice. Only you can decide for sure.

May 26, 2016

Is Using A Debt Consolidation Agency A Good Way To Repair Credit Score?

Filed under: Debt — Tags: , , , , , , , — admin @ 12:47 pm

When looking into the benefits of a debt consolidation loan, you must understand exactly what a consolidation loan is for, along with that it can do for you. Once you have grasped an idea of the entire process of a consolidation loan you will know whether it will help you in your specific situation cure credit score problems while fixing your debt. What is debt consolidation? Debt consolidation is a plan provided by a company to its clients which enables these clients to take their severely overdue, building up together, multiple debts and turn them into one single easy to manage debt with lower monthly payments. Making the clients more able to take care of themselves and their families more efficiently then before they took out the consolidation loan. How does a consolidation work? A consolidation works by a client of a company receiving a loan from the consolidation company to pay off all overdue debts. This said loan is typically not handed straight over to the person taking out the loan but the company usually pays off all of these debts for the client, and sometimes is also able to get the client a discount on the total debt being the debt is being paid off in full. After all debts are paid the consolidation company makes a time payment agreement between them and the client, the time payment agreement will be customized in consideration with how much was borrowed, what the clients monthly income is, and required living expenses. This way the monthly bill to be paid will not be unaffordable enough as to where the client goes back into debt. Is a debt consolidation agency able to repair a client’s credit score? The answer to this question depends upon the client’s ability to pay back the loan given by the consolidation company, for example if a client makes all payments on time and pays off the debt without error the credit score will improve. But if the client has other debts not being paid, or payments being missed on the consolidation loan the credit will decrease. So really yes consolidation can fix your credit, but only if you work to that goal.

When looking into the benefits of a debt consolidation loan, you must understand exactly what a consolidation loan is for, along with that it can do for you.

Once you have grasped an idea of the entire process of a consolidation loan you will know whether it will help you in your specific situation cure credit score problems while fixing your debt.

What is debt consolidation?

Paula de la Torre Editor of the “Best Debt Consolidation Companies” website — http://www.BestDebtConsolidationCompanies.net — pointed out;

“… Debt consolidation is a plan provided by a company to its clients which enables these clients to take their severely overdue, building up together, multiple debts and turn them into one single easy to manage debt with lower monthly payments. Making the clients more able to take care of themselves and their families more efficiently then before they took out the consolidation loan…”

How does a consolidation work?

A consolidation works by a client of a company receiving a loan from the consolidation company to pay off all overdue debts. This said loan is typically not handed straight over to the person taking out the loan but the company usually pays off all of these debts for the client, and sometimes is also able to get the client a discount on the total debt being the debt is being paid off in full.

“… After all debts are paid the consolidation company makes a time payment agreement between them and the client, the time payment agreement will be customized in consideration with how much was borrowed, what the clients monthly income is, and required living expenses. This way the monthly bill to be paid will not be unaffordable enough as to where the client goes back into debt…” P. de la Torre added.

Is a debt consolidation agency able to repair a client’s credit score?

The answer to this question depends upon the client’s ability to pay back the loan given by the consolidation company, for example if a client makes all payments on time and pays off the debt without error the credit score will improve. But if the client has other debts not being paid, or payments being missed on the consolidation loan the credit will decrease.

So really yes consolidation can fix your credit, but only if you work to that goal.

Further information about trusted and reputable companies for debt consolidation by visiting; http://www.BestDebtConsolidationCompanies.net

February 18, 2016

If Using A Credit Card Debt Consolidation Company, Does It Affect Your Credit Score?

Filed under: Credit — Tags: , , , , , , , , — admin @ 12:47 pm

If you choose to take a debt consolidation loan to help get out of debt you may be wondering if it will affect your credit score.

It should not affect it much in the short term. Credit agencies usually look at all of your credit history as a whole and will take note that other accounts were paid off. This is due to the debt consolidation loan. In the big picture, as long as you make your payments on time for a year or two your credit score will ultimately improve.

Hector Milla Editor of the “Credit Card Debt Counseling” website — http://www.CreditCardDebtCounseling.biz – pointed out;

“…The thing to remember though is to handle the accounts your pay off properly. You may decide to close the credit card accounts so you are not tempted to use the increased credit made available by the debt consolidation loan. Do not be too quick to do this because closing your account does not close the credit history on them…”

Also by closing your accounts your lower your available credit which raises the percentage of available credit that you are using at the present moment. This can go against you because a credit agency may very well feel that you are at you limit of available credit and consider this a dangerous warning sign of a bad risk.

“…If you do decide to close accounts anyway because you just do not trust yourself close the newer accounts over the ones you have had for years and years. If you have long-standing accounts on the report, it establishes a long credit history and that helps your credit score. Make sure your write a letter to the creditor if you decide to close and account that it is being closed by your request and it should be put on your credit report that way. Make sure to check your credit report and see that it is written correctly afterwards…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtCounseling.biz

January 7, 2016

Using Business Federal Income Tax Software

Filed under: Tax — Tags: , , , , — admin @ 12:46 pm

There was a time that the person had to bring out the old receipts for the entire year and then use a pencil, a calculator and paper when preparing the federal income tax report. After double-checking the figures, the document is finalized and then filed on or before the deadline.
These days, there is a faster way of doing it and this involves the use of the computer. The individual will just have to get the tax preparation program to be able to finish this faster than before.
Individuals who want to get the software can either buy the program or get one that is absolutely free. Here are a few examples of those that are available.
1. The first one is called Turbo Tax. This is only free if the taxpayer is only earning a gross income of $50,000 or in the military service. Those who are earning more can still use the program but will have to pay close to $40.
This can even be used for small business tax preparation. The person can buy the CD or download this from the web. If this is going to take awhile to finish, the information can be saved so this can be continued later on.
2. Tax Act is another software program. The eligibility requirements in order for it to be free are the same as Turbo Tax. Those who choose to use the deluxe or ultimate version will have to pay to be able to use it.
3. Next is Tax Slayer that can be done online or downloaded into the person’s computer. This company has been providing this service since 1992 and has made the program available to the public since 1998.
This can be used when filing for federal and state tax returns, which includes all the necessary forms. After submitting this online, a copy can be printed for reference.
4. Tax Cut can also be used when filing the federal income tax. This is user-friendly and works just was well as the others ensuring that there are no mistakes when this is ready to be submitted.
A consumer report shows that 53 million people last year used free or paid federal income tax software programs in filling the return before submitting this to the government. This number is expected to increase next year as more individuals are beginning to realize that this makes the job easier at no extra cost to the taxpayer.
It takes so much to build a business and so much more to make it a real success. They say that you have to be really cut for it in order to make it in any business venture because while some get lucky, businesses are all about time, effort and a whole lot of strategy.
When one has a business, one will realize that while it is primarily about gaining as much profit as you can there are many other things to take care of to ensure the continuing success or existence of your business.
Some of the factors that you have to look into are taking care of your employees after all employees are your real worth. It is only when you have the best employees can you assure yourself that even if you are not around to check on them everyday, your customers are safe in their hands.
Also, while you want to keep the profit all to yourself, there is a need to allocate to your human resources and other needs like marketing efforts perhaps to increase sales but more importantly you have to make sure that you are paying business income tax. Yes, the more your business earns the more business income tax you have to pay.
So just think of it this way, the more business income tax you pay the more successful you are. For sure there will always be that desire to cheat your way into paying lesser business income tax than you should really be paying. Most business owners even justify this by saying that there is no way they can earn if they pay the right amount of business income tax.
Bear in mind that the government tries to be fair in imposing business income tax. Read through the many laws about business income tax or if not look for a friend who is knowledgeable in tax laws so that you will be properly informed. You never know, there might be legal ways for you to contribute less business income tax.
In terms of preparing your business income tax, you can scour the net or ask around other people who have experienced filing a business tax for the correct business income tax software. The business income tax software will make it easier for you to go through the process of filling in details and finding out the precise amount of business income tax you have to pay.

December 24, 2015

Using Mortgage Refinance Calculators

Filed under: Loan — Tags: , , , , , — admin @ 12:48 am

Mortgage refinance calculators can appear intricate for first-time users but this guide will help you get the figures you need.Step 1 Choose the right source.The best mortgage refinance calculators are those given by unbiased websites. If you see a link to any mortgage company in the site then there is a good possibility that the free on the Internet mortgage refinance calculator you’re using is rigged to give results favorable to the business.For more accurate results, you should likewise consider buying software that permits you to install your own mortgage refinance calculator in your computer.Step 2 Decide on the right type.There’s a great deal of mortgage calculators available in the web so do make sure you’re utilizing the right one. Mortgage refinance calculators can also be referred to as second mortgage calculators. Some are likewise specially made to work on fixed rate mortgages while others are created to compute rates for variable rate mortgages.Step 3 Get your data ready.For fast results, make certain you’ve got all your data ready. Have a directory of quotes from different mortgage providers. Be sure that likewise you know every pertinent figure relating to your existing mortgage as well as the various fees you can be charged with for removing a second mortgage.Step 4 Input figures.Now that you’ve got everything you need on hand, it’s time to input your figures.Savings from RefinancingThere are ordinarily two major categories made use of in mortgage refinance calculators. The first category needs you to input the necessary figures to calculate how much you can save from refinancing.Current Monthly PaymentHow much are you paying every month for your existing loan? Make sure you input the total figure and not simply the interest or the sum of money you pay to deduct from the remaining loan balance. Balance Left on MortgageIf your creditor can’t provide the precise figure then don’t worry because this is fairly easy to work out. First, determine how many months you’ve been paying your loan dues. Now, deduct the volume of interest expense from your total monthly loan payment. Multiply the difference with the number of months you’ve been paying. Lastly, deduct the merchandise from the sum of money you originally borrowed and the result will be the remaining loan balance. Interest RateMortgage refinance calculators will likewise require you to input the interest rates for your present and possibly second mortgage.Loan Terms Also for comparison, a mortgage refinance calculator will require you to indicate the number of years you’re allowed to pay off your second mortgage along with the number of years left on your existing mortgage. How Much It CostsThis is the second category of figures made use of in mortgage refinance calculators and most of other figures used here might be provided by your future creditor.Application Fees and CostsSome mortgage businesses charge borrowers with application fees, but this may well be waived if you are eligible for a pre-approved loan. Other fees that may or may not be waived include document preparation, inspection, title search and insurance, credit check, local and miscellaneous fees.Attorney Fees Costs for second mortgage may need you to pay for the fees of your attorney along with that of the mortgage lender. Step 5 CalculateUpon keying in the required data, click Calculate or Enter in your mortgage refinance calculator and you’ll ascertain how much your new monthly payment is, how much you’re saving and how quite a few months you can recoup your expenditures.

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