December 25, 2006, 8:55 pm : If You Have a Positive Credit, Negotiate With Lender
Filed Under: Debt ConsolidationDiscussion: C[0]mments
My parents used to always tell me that I shouldn’t cry over spilled milk. I was confused with what they were trying to say during those times, but I can now totally grasp the point. There’s no use crying over the mess I made. The only think that I can do is to clean it up and fix it. Anyway, this is a great metaphor for credit card and loan debt. If you have a load of debt on your hands, then you should do something to improve the situation instead of fussing over it. You can fix your credit card troubles with the assistance of credit consolidators. A professional consolidator can help you get back on the right track to a normal and manageable life.
We can all benefit from knowing how to fix our debt issues. Of course, debt problems vary from person to person. Your friend might run to his rich daddy to fix the mess, but you may not have the same option. Anyway, the Internet is a wonderful place to start when it comes to dealing with debt problems. It is also the best place to find reliable credit consolidators. You will discover an entire slew of credit consolidators and varying rates on the World-Wide-Web.
If you have a huge debt, then you would want to get it as soon as possible. But, the last thing you want is grappling with more high interest rates in the process of paying your debt. After all, your annoying credit card companies can give you those already. You should focus on consulting credit consolidators and finding the lowest percentage rate currently possible. You can dramatically reduce your monthly payment, and have more cash to spend on other things with the assistance of credit consolidators.
A few weeks ago, I watched a show about a woman attempting to take control of her financial issues. She decided to find help from credit consolidators. Fortunately, a professional stepped into the picture and told her exactly what to do. She then acquired a consolidation loan and put her grand total of 30,000 into one spot. The deal she got is great considering that she got a 6.5 percent interest rate. Well, that’s certainly a whole lot better than her former credit cards rates. She then proceeded to throw away her credit cards because she no longer wants to have dept problems.
December 23, 2006, 10:18 pm : Be Careful Payday Loans
Filed Under: Payday LoansDiscussion: C[0]mments
“Payday loans provide credit facilities to consumers in emergency situations”
Whilst this may be true to some extent, a payday loan usually defers the inevitable from a current date to a future one. By their nature payday loans are aimed at people in financial trouble and statistics show that over 90% of payday loans are made to people in a cycle of repeat borrowing.
“Payday lenders serve middle class working families”
The payday loan industry claim to have its roots in middle class America is based on a study funded by the industry itself. The study concludes that 50% of lenders are middle income earners based on interviews with only 427 out of 5,400 lenders.
In contrast to that, business plans submitted by lenders paint a different picture altogether. These plans suggest that up to 40 million households with incomes of $25,000 or less are in need of quick loans between $50 and $300 and that this market is expected to grow substantially over the next decade. This all points to the fact that the industry is targeting lower income families on an ever increasing scale.
“Customers understand the cost of this service”
Most borrowers believe that the APR on their payday loan is in the region of 30%, which is fairly close to the credit card rate. In reality however payday loan rates are on average 13 times higher or around 400%. This gap in perception is certainly a cause for concern and prospective lenders should familiarize themselves with the terms of the loan before signing any documents.
The perception of lower interest rates is reinforced by wording in most contracts which typically state something to this effect. “We charge $15 per $100 borrowed. Sounds like 15% to most people, but when you factor in the duration of the loan at only 8 days, the real annual rate is closer to 800%.
December 15, 2006, 12:36 am : Bid a Car Only $500
Filed Under: Car AuctionDiscussion: C[0]mments
Bid a Car Only $500, Do you believe?
Yesterday, I get a message from Bargain . They announced that their vehicle listing are over 1 million and many car prices only $500. I don’t know whether it’s real, but spend $500 get a car is wise. The question is how to bid a $500 car, I think the competition for the $500 car is very fierce. Everyone are want it, the problem is who will be first.
Here is their $500 car join link, if you are interesting in it.