Do You Let People Take Advantage Of You

Category: Finance.

If you are struggling to make end s meet, you might want to ask yourself a few questions concerning just why it is so hard for you to do so.

Do you let people take advantage of you? There are a lot of things that can make it harder to make a living and accumulate wealth and a lot of them are fairly avoidable. You know what I m talking about. If this is you, you might want to re- think your strategy when it comes to dealing with these people. When relatives or friends come to you and ask for money or need a place to stay, do you automatically feel like you have to help them because they are your friend or family? Unfortunately, there are always circumstances that will make the situation personal and hard to give advice on, but if you start to feel like someone is taking advantage of your hospitality, you re probably right. Sit down and find out what exactly you are spending every month.

You might think that giving someone a place to stay won t cost you anything, but at the end of the month when you look at your grocery and utility bills, you ll think differently. Factor in your rent, gas, electricity( if you have it) , insurances, and other miscellaneous, groceries expenses. This includes small purchases at the gas station or fast food restaurant or just about anything else you would purchase on a day to day basis. A lot of the time, you will notice that a larger portion of your funds go toward miscellaneous expenses than you thought. These seemingly insignificant purchases make up a larger portion of your monthly budget than a lot of people would expect. You ll be surprised at what you find.

Save your receipts from these purchases for a month and see just how much you re spending. Next on the list is to get rid of the processed foods from your kitchen. Unfortunately, a lot of us have strenuous jobs to deal with and so paying for the extra convenience of having a meal that you can just stick in the microwave seems like a great option. Frozen foods or meals that are" ready to eat" out of the can are generally the most expensive items by ounce in the grocery store. The bad thing is that these tend to be very unhealthy for you and your family to eat and as we mentioned before, they re expensive. If you simply cannot do without the convenience of processed foods, try to make up for the funds you are losing in other areas, such as cutting back on your utility usage.

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Opening And Operating A Merchant Account Is Quite Easy - Finance Blog:

A merchant account is an essential tool for the smooth functioning of any business as it provides reliable support in your business.

The Importance Of Income

Category: Finance.

"We re not saving enough for retirement" "Boomers Unprepared" .

Every time I turn on the news or open a newspaper or magazine there is some article talking about savings rates, or debt rates or whether it s better to save than to invest. "Lower Expectations" is the Wrong Advice. This is the topic of just about every article on financial planning I ve read in the last week. The ones that really get me wound up are the ones that tell the reader or listener that they need to lower their expectations for retirement because they aren t saving enough. It s all bordering on financial malpractice as far as I can tell. Ugggh! ! The Importance of Income.

Must you rely solely on savings? First, what does it take to retire? What if you have money coming into your household to pay for the lifestyle you desire to live? Hold On Tight To Your Dreams. Any lifestyle- whether you are working or not- takes income of course, and when you have income coming in from sources that don t require you to go to work to earn them, then you would be financially independent- not retired. Second, if you give up on your dreams, you die- yes die. How about showing people what they can do to reach their goals?

Many studies have demonstrated the power of goals, so why on earth are the" experts" telling people to reduce their expectations and" get real" ? Why not give them some options? No one. If people continue to hear they can t have this or they shouldn t do that, then who is the winner? This is the problem: too many people have been told for too long that they can t do things or they better not because it s risky so they don t even try. From Dream to Action. Instead, they settle for mediocrity and then look to the government or the banks to help them out because they still feel they are entitled to their life of financial freedoms.

It takes a dream to inspire someone to action, and action to make a dream come true( financially speaking) . Saving money, is not as, for most people strong an incentive as the immediate gratification that helps them feel better in the moment. You have to use all your resources( financial and otherwise) by taking your existing income and using it to create wealth, which creates more income which creates more wealth and so on and so on. If you are being told you can t have something, or maybe you should lower your expectations, then it s even more likely that you will want to enjoy the short- term rewards from spending money on something you want today. The answer to how to get out of debt and save money at the same time is really quite simple when you consider the emotion and psychology of goals and immediate gratification. The Power of a Complete Plan. The answer is not to look at getting out of debt at all, and not to look at saving money at all.

I m not talking about income that comes from a second or third job, but income that comes from setting powerful personal lifestyle goals and surveying all your available assets, then implementing some systems to build a foundation where your current resources are working to create income. The answer is to look at creating income. It s the power of a sequence and the power of having a full plan, not just several pieces of the picture taken independently. To effectively answer the debt/ savings question, you need to have a whole plan that starts with what income you want to live the life you want- then never ever, ever give up on that dream.

Just Having An Account In A Supposedly Sovereign Jurisdiction That Will" Keep Your Information Private" Is Not Good Enough In Todays Financial Landscape

Category: Finance.

As a middle aged, married, middle class, business owner, father of 3( one in college. argh) freedom seeker, I have sought for many years to establish the knowledge, and the resources, the relationships needed to make a lifestyle of financial privacy and freedom available to me and my family. Many have found that without doing something" shady" or" under the table" or downright illegal, and having to constantly be looking over your shoulder to see who is looking, having a workable private banking solution is, unattainable, in real life.

One of the most frustrating and problematic areas to resolve successfully has been that of how to establish a private banking relationship, for someone of moderate means, in today s world of intrusive financial surveillance. But I have found something that simply works. Just because I said it is simple, do not underestimate the value of this" gem" . If the above statement does not suitably impress you, perhaps you are not fully aware of what it takes to accomplish this in this day and time. If you think it s easy to find something that actually works. you have not tried. end of story. But before I give you a brief review of it s qualities and benefits, let me stress that I am not talking about just going out and opening an offshore bank account. The Continental Trust and Credit Union has been the long sought answer to the banking relationships I required.

In my opinion, this is not a valid and workable relationship. And secondly, anything with your name attached to it in the banking system is discoverable. First, unless you intend on having assets of less than$ 10, 000 USD( I am talking about US citizens here) you are required to report this account. Just having an account in a supposedly sovereign jurisdiction that will" keep your information private" is not good enough in todays financial landscape. This is not the way to do it. Suffice it to look at the large number of" high rollers" who tried to" hide" a good portion of their assets this way and got in a good deal of trouble.

It s not what I want, and I will presume it s not what you want. "Hiding" things and privacy are very different arrangements, and you want to be involved in the latter. legitimate, secure, legal, workable financial privacy! The Continental Trust And Credit Union is a private savings and loan association domiciled in Stockholm, Sweden and registered in accordance with the Economic Associations Act( 1987: 667) . With that being said. let s take a look at this treasure I have found. The activities are regulated by the Swedish Banking Act( 2004: 297) . Under the law that regulates Continental Trust, provided that it does not solicit to the public and keeps its membership small by legal definition, an EF is exempt from the standard banking regulatory regime and the only reporting required is an annual tax return filed on net profits. As a legally designated Ekonomik Foerening (EF) it is essentially a Savings and Loan association.

What this means is that this type of an organization is basically not required to report anything regarding its membership or financial transactions. ever! Now this does not mean you can get away with criminal activity, because if you give governments or courts a legitimate reason to come after you, they can eventually get just about any information they want. but as far as financial privacy, this is off the grid. This is as good as it get s! This is a legitimate type of organization classified by the World Bank as a Non- Bank Financial Institution and recognized as" having an important role in a balanced and diversified financial sector" . All of its officers have had background checks, the books are audited annually by a major, well recognized auditing firm. In other words, it s not some shady deal that you have to worry about being under the table.

That s the legal stuff. now as far as its usability and benefits. here are the major points: Full internet access to accounts and built in secure message system. Account data is held not only in secure and stable Linux servers with all the appropriate firewalls, but is then maintained on powerfully encrypted hard drives which are not on the same server as the web page but are instead, held and maintained very privately and secure half a world away. Internet security system twice as good as most major banks( Regarding security. The domicile, secure servers, banking, web servers and administration are all conducted and compartmentalized from different parts of the world making Continental Trust one of the most secure operations of its kind in existence today. ) So designed that even if the webserver were hacked, no information could be accessed. Much more useful in situations such as car rental etc. Transfer accts. for general in/ out activity by wire transfer or by transfer to linked private International Secured Mastercard Program( no spending limits except for the balance stored) Credit card, not debit card.

Funds accessed by: merchant purchases. Wire transfer. ATM withdrawals. Bankers draft. CD s yielding from 1% -5% monthly( that s right. monthly. Savings Accounts with 9% yearly earnings. Excellent passive investment) Minimum initial deposit is 2500 euro.

My experiences with CTCU have been excellent. Loans against capital or real estate. The communications with the staff have been prompt and professional. The one small problem I once experienced was when opening a trading acct. The treatment I receive is as a person, not a" number" . The trading institution would not initially accept the wire transfer because it was sent from another institution than what was named on the account.

The problem was easily resolved by the staff sending the proper documentation showing that the CTCU account was in fact the initiator of the wire transfer. This is actually how this kind of organization works, it s clearing of funds is through a separate bank. Problem solved! There are other benefits as well to becoming part of Venture Resources Group as they are experienced professionals in the international arena, but I will not go into that here. The other thing you need to know is that access to the Credit Union is by private membership only. you must be a member of the private business group Venture Resources Group. The last thing I will point out, is that CTCU is still fairly young and it s deposits and ability to do other things in the financial world is comparatively small. but growing. More detailed information is available from the Venture Resources Group and guest login codes to access all the information on the Continental Trust And Credit Union website are available upon request.

So there you have it as best as I can put it. I sincerely hope that this article and the information it contains are of great benefit to you and can give you a sense of financial confidence that here, is a solution, finally to what you may have been looking for. as it did for me. For the purposes of this article, I have assumed that you understand this, and have access to this kind of knowledge and relations. Important Note: A pre- requisite to having this kind of financial privacy is to establish working relationships with properly formed and maintained international entities. If you do not, then allow me to refer you to Venture Resources Group where I know you can get reliable and reasonably priced access to them.

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Apply For Credit Cards And Beware The Costs - Arlene Fearn's Finance blog:

Financial institutions usually make it quite easy to apply for credit cards because these institutions make substantial profits from the credit card business.

Another Kind Of Home Loan Is The No Equity Home Loan - Finance Blog:

One of the vital things that you should ensure is your credit standing. However, not anyone possesses it.

So, How Are These Credit Scores Calculated - Finance Articles:

So, how are these credit scores calculated?

The Drilling Of A Borehole Requires A Government Permit First

Category: Finance.

If you are contemplating the development of a complex/ costly building, you are strongly advised to appoint a project manager who will manage the design team and the whole development.

Central heating is not generally required in the seaside towns( although this is a matter of own judgment) but air conditioning( at least in the bedrooms and for the seaside areas) is recommended. Also the appointment of a quantity surveyor on such large scale projects is strongly advisable. The cheapest form of cooling is the normal wail mounted units. Solar heating is an economic alternative and its adoption is relatively inexpensive, having a payback period of approximately 5 years. Split unit type with heat pumps is increasing in popularity and it is an alternative to be considered. If you will have a garden, it is advisable to drill a borehole for watering as the water charges rise more than proportionately with consumption. The drilling of a borehole requires a Government permit first.

This will cost around C1, 200 for the borehole and the pump, although it will depend on the depth of the borehole. Action to be taken and points to bear in mind when buying your own plot to build your own house. Visit the area that you are interested in and ask the local residents directly, or in case of a village, if there is, the village muchtar land for sale. Seek a suitable plot. Seek the assistance of a registered estate agent who may be in a position to offer to you alternatives but bear in mind always that most local sellers do not use the services of estate agents. A developer could be asking a high price for flats but he could be offering very attractive payment terms over a long period. Another factor which is also related to the price, is the payment terms.

Compare, not only the, therefore extent, quality etc. of a flat, but also the payment terms in order to ascertain who is offering you the best deal. What is luxurious accommodation may be far distant from what you will get however. Quality: In all advertisements for the sale of flats you will find the word luxury. If the flat you are buying is not ready, have your property surveyor go through the specifications of the materials and finishes so that he can explain their meaning to you.

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In Fact, There Are A Hundred And One Ways To Prove To Your Customers That They Come First - Finance Articles:

"People used what they called a telephone because they hated being close together and they were scared of being alone. " Chuck Palahniuk could be right and wrong! An online merchant will not exist and survive in the cutthroat world of online business without key customer service tools.

The Wohnbaukredit Is A Secured Loan In That The Housing Secures The Mortgage - Finance Blog:

In Austria, and in many other parts of Europe, there is a notable demand for home ownership, or a, and a mortgage wohnbaukredit is seen as normal funding for home purchasing.

Although You Are Able To Find Such Systems Using Search Engines Such As Google Or Yahoo This Is Not The Most Preferable Way Of Doing It - Finance:

When it comes to selecting a system out of the many Forex online trading systems that are now available there are a few things that a person should be aware of.

However There Is A Solution And It Comes In The Form Of Cash Advance Payday Loans

Category: Finance.

There is no appropriate time for any particular incident to crop up. If at the same time you do not have any readily available finances available to you, it can be pretty disturbing for you.

It can be in a day, within a few hours from now or in a month. However there is a solution and it comes in the form of cash advance payday loans. These loans are approved towards your bank account within a period of 24 hours which means that the amount is in your hands within the same day. These loans are designed specifically to provide you finances in times of emergencies without any hurdles. Cash advance loans are offered to you solely on the basis of your upcoming payday. Based on these, lenders approve amount in the range of$ 100- $1500 to fix your various personal needs.

The amount advanced is highly influenced by what you draw as your monthly income which must be at least$ 1000 per month. These are very short term loans and are made available to you for a period of two to four weeks maximum. Other than that, you must have completed 18 years with a valid bank account. The eligibility criteria required to avail these loans are that you must be employed for the past few month with a good source of monthly income. This is one chief reason why these loans are very much popular among the salaried individuals. In fact by repaying the borrowed amount, you get a chance to improve the credit score. If you are having a series of bad credit problems like arrears, defaults etc against your name, it is not of major concern as lenders approve the amount without any credit check.

The interest rates concerning the loans are slightly higher as they are made available to you for a short time period without any collateral. Cash advance payday loans offer instant money to meet your immediate requirements without creating any obstacle. But with a proper research using the online method can help you find lender offering the loans at cheap rates.

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If You Are Looking For A Credit Card, This May Be A Relatively Easy Way To Get One - Lindsey Kosloski about Finance:

If you are looking for a credit card, this may be a relatively easy way to get one. You still have to submit an application for evaluation before you receive the card.

No One Will Be Able To Run A Credit Check On You- Period - Finance:

Thousand of people each day become the victim of identity theft.

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My goal in writing this article is to teach you how to. reach your financial desires. The rich get richer and the poor get poorer& rdquo; .

APR Stands For Annual Percentage Rate

Category: Finance.

Home equity interest rates can be confusing for some people.

With the current housing market mess, it is wise to understand how these interest rates work and how much they will cost you during the life of your loan. In fact, if the wrong type of loan is taken out, homeowners can easily find themselves in financial trouble. The good news is that interest rates are a very helpful tool when homeowners are shopping for equity loans. APR stands for Annual Percentage Rate. Of the many terms that are associated with home loans, APR is one of the most important. It should be understood that you cannot compare the APR between an equity line of credit and a home loan. Homeowners should also understand that an introductory rate is often used by lenders to get new business.

These are two different types of loans and they behave differently. If your loan has an introductory rate make sure you understand what the true rate will be once the first phase or introductory phase is over. The interest rate for home equity loans does not correctly tell you the true cost of the loan because it does not account for added costs such as points and fees. There is a difference between the standard interest rate and the annual percentage rate. The APR is far more helpful when you are comparing two home loans because it accurately reflects the cost of credit expressed as a yearly rate. When you are trying to compare APR s between different loans, make sure that the terms and conditions of the loans are the same. It will also include the interest rate and all fees and points that must be paid.

Differences in the terms and conditions will affect the APR. Another confusing aspect of home loans is the difference between equity loans and lines of credit. As an example, if one of the loans that you are looking at has a longer payment term, and some type, a balloon payment of pre- payment penalty, it is not meaningful to compare its APR to another home equity loan that does not have those conditions. Consumers will do well to compare APR s on home equity loans, but they should understand that they cannot compare this to lines of credit loans. In other words, the fees in a line of credit are not factored into the APR. This is because the annual percentage rate for an equity loan takes into account the interest rate and all fees paid within the loan, while the APR for an equity line of credit only takes into account the interest rate. To avoid confusion, consumers should only compare like to like.

As mentioned above, home equity lines of credit may offer an introductory interest rate to get your attention. The APR of a home credit line loan should only be compared to the APR of another home line of credit that contains similar terms. These introductory rates are also called discounted rates or teaser rates. In some cases, the added interest can be significant, in which case you may want to continue shopping. It is important to know in advance how long the rate will apply and how much additional interest you will have to pay once it is over.

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Keep All Details - Finance Articles:

If you have ever shopped online, then you might know about some of the dangers associated with online purchasing and online credit card fraud. Here is some more information about the dangers of online credit card fraud and how to avoid them.

Many Merchants Complain About The Lack Of Information When It Comes To High Risk Merchant Account Application - Camille Genovese's Finance blog:

Many merchants complain about the lack of information when it comes to high risk merchant account application. It s more likely because merchant account providers do not provide standard customer service or are simply too lazy to share the nuts and bolts that the applicants need.

Cyprus Property Market Has Being Said To Be One Of The Fastest Growing Property Markets In Europe - Finance:

Cyprus s real estate and property market is booming dramatically due to the continuous work of construction companies who invest large amounts of funds towards infrastructure development.

Term Life Insurance Is The Cheapest Policy Around

Category: Finance.

If you are the breadwinner in the family or not one thing that you should be thinking about is a life insurance policy. How would your family survive.

What would happen to your family if you were to leave this world? You need to make this one of your main priorities. Online life insurance quotes are right at your fingertips, so take advantage of the opportunity. Today with the internet access if is quite easy to find a policy online that will meet all of your needs. If you were to shop around for a life insurance agent to have he or she help you find what you need, you may get pressured into something that you don t really need or want. Shop at your convenience, with no pressure and no underwriter pushing you into something that you don t want.

With online life insurance quotes, there is no pressure. Get Your Quote Online. There are a lot of companies out there that will help you find what they think that you need. Before you start looking for your online insurance quote, you need to get your information in order and there are some things that you need to think about before starting. Now some of these companies are good at figuring out what you need, by the way that you answer there questions. Assess Your Current Situation.

But there are a lot of companies who will just about sell you anything, whether you need it or not. One of the first things that you need to do before going online looking for coverage is to make an assessment of your finances are what your present situation is. For people who are on a tight budget, the best policy for you would probably be a term life insurance policy. One thing that you must realize is, even though you know that you need to get your family some assurance for yourself, it does mean that you have the spare income to make the payments. What you don t want to do is to get some policy that the price of the premium is to high. Term life insurance is the cheapest policy around.

You don t want the insurance bill to just pile up on your desk and you know that you can t afford the policy, even though you know you need it. But make sure that is the one for you. Don t become miserable after you purchase the policy because the premium is to big. Read the other articles that I have explaining what the differences are. Make sure you evaluate you situation before starting. The purpose of the policy is to get coverage for your family after your death. Consider this before you start your search for online life insurance quote.

Know how much money they are going to need to life the life that they currently live. Bills, rent, mortgage, etc. should all be added up to determine this amount. Make sure that you know this information. In fact this should be the basis when asking for a quote online. If you need more information on various types of insurances, please visit our site: http: //www. insurancelifecompany. com How much does my family need to live comfortably after I have left this world.

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Sears Credit Cards Can Pay For The Latest In Technology - Finance:

Sears credit cards are very useful because the stores affiliated with Sears credit cards carry a vast array of the needs of most consumers.

This Is Where Business Credit Cards Can Help - Finance Articles:

The first three years of a business life are the most crucial. This forces the owner to give the important numbers a good, hard think.

OsCOMMERCE BUGABOOS - Marilyn Strawbridge's Finance blog:

Just because osCommerce is the most popular merchant account software doesn t mean it s the best solution for your online business.

There Are Many Types Of Insurance Available

Category: Finance.

There are many types of insurance available. This article will examine some of the more common types of specialty insurance.

Home owner s insurance, life insurance, automobile insurance, to name just three, but there are also specialty insurance policies available that some consumers may find very useful. In simple terms, specialty insurance is exactly what it sounds like. It is also used to provide protection for items that might otherwise be protected under another policy but are not protected because of some unusual aspect. It is insurance that is purchased for items that are special or unique. For example, a diamond necklace might be protected under the home owner s insurance policy but what if the necklace is with you while you are traveling and it is stolen or broken? Specialty insurance policies are not available with all insurance carriers and that means that you may have to do some research in order to find the best carrier for the item that you wish to insure. A specialty insurance policy on the necklace( and only on the necklace) can provide the protection that you need for that item no matter where you are.

Lloyd s of London is an example of a famous specialty insurance carrier who( it is reputed) will insure anything as long as the insured is willing to pay the price. This can be done online, if you wish. Other, carriers are available, less famous, but you will probably have to search for them. Another way to find reputable insurance carriers is to ask the people from which you bought the item. Chances are good these vendors will have some contacts that you can explore. In the necklace example above, you might want to ask the jeweler with whom he does business with.

Specialty items that you might want to consider insuring include such things as: exotic animals, coin collections, artwork, antique watches or other time pieces, various pieces of, collectable automobiles jewelry, antique furniture pieces, historical documents, rare books, and any other unique item or items that you may have. For example, assume you have a home owner s insurance policy that covers one million dollars of damages. One reason many consumers and collectors use specialty insurance policies is when the item insured is worth more than the location where it is stored. Let s further assume that you have a famous piece of art that has been appraised at three million dollars. The one million dollars recovered through the insurance would need to be used to replace the home and the furnishings, and would not come close to being enough to pay for the lost art. The artwork could be covered under the home owner s insurance but there would be a substantial problem should the home burn down and the artwork is lost in the fire. By having a separate policy on the artwork, a policy that better reflects the high value of the piece, the home owner is better able to recoup his or her losses.

When the amount of loss is considered, it can actually be a great value in terms of replacement as well as in terms of emotional comfort. Specialty insurance is not as expensive as many people believe it to be. Knowing your unique items are insured can go a long way in relieving stress.

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There Is No Limit To The Power Of The Credit Card - Finance Articles:

Credit cards have become a way of life for millions of people in the US, credit cards are used for shopping, entertainment and even buying everyday groceries.

So Check The Terms In Your Business Credit Card Agreement Beforehand - Finance Articles:

Virtually all the business credit card issuers provide free vehicle insurance cover for rental car vehicles that are paid with their business credit cards. In case an accident or theft occurs while you are driving the car, the business credit card issuer undertakes to reimburse you for the cost of repairing or replacing the vehicle.

Others Relied On Open- Book Credit - Finance Blog:

It was only inevitable that Americans would invent the credit card.

The Bank Must Strive To Meet The Credit Card Holder S Needs

Category: Finance.

Owning a credit card is fast becoming a better deal for consumers as the credit card industry( banks and other credit card issuers) starts changing their practices and implementing what can only be construed as more lenient practices, under the pressure exerted by Congress.

In economic figures released by the Commerce Department at the end of May 2007, the U. This article offers the whole story. S. first- quarter gross domestic product( GDP) grew by 6 percent. Housing continued to be a drag on the economy and was though likely to remain so in the coming months. This was the weakest quarterly expansion since the fourth quarter of 2002 and was well under the 8 percent growth rate projected by Wall Street economists. However, there were positive signs as well, which could signal a healthier rate of growth towards the end of the year.

In a related report, the Labor Department reported on June 6 that U. One of these good signs was personal consumption spending- which powers two- thirds of the economy- increased by about 4 percent versus the 8 percent figure in April. S. worker productivity had also increased at a much slower rate than originally estimated. Most of the performance figures had already been anticipated. This report raised fears about possible inflationary pressures as labor costs go up. What came as a surprise was that borrowing by U.

This increase in consumer credit was the smallest monthly increment in seven months, since October. S. households had expanded by less than half( $6 billion) of forecast( $6 billion) as credit card use actually fell for the first time in 13 months. It seems consumers are pulling back from taking on more debt. The decline in revolving credit has been interpreted as a sign that consumers are paying off more of their credit card debt. Revolving credit, which includes credit cards, declined$ 403 million in April, the first monthly decline in the 13 months since March 200Consumers may be cautious about contracting more debt while housing remains in a slump and economic growth has been so weak. In the middle of these mixed signals from the various sectors of the economy, legislators have expressed their dismay over practices being followed in the credit card industry. Lawmakers subjected executives of major credit card issuing banks to intense questioning during the hearing.

The House Financial Services subcommittee hearings last Thursday, called for stronger, June 7 action by the Federal Reserve to control what lawmakers called the deceptive and predatory practices of credit card companies. Saying that the average American household carries$ 13, 000 in credit card debt and overall credit card debt runs in the hundreds of billions of dollars, the panel chairwoman Rep. Y. , was reported to have expressed fears" that we will see a perfect storm in consumer credit as these pressures converge on Americans, and that the ripple effect will be felt throughout our whole economy. " Maloney cited the success of credit cards in providing for the credit needs of the American consumer but also emphasized that with great success came" great responsibility. " Lawmakers think the Fed needs to do more to protect credit card users, and propose to give other bank regulators the authority to curb industry abuses, including policies that confuse consumers and push them into more debt. Carolyn Maloney, D- N. The Fed is requiring credit card companies to extend to 45 days the notification period to consumers before they implement any changes in the terms of an account. The Fed s proposed full disclosure requirements would, allow consumers a, among other things longer time to look for another credit card.

The present practice is that when banks want to make any changes, to increase interest, for instance rates or to impose a higher penalty rate for missed or late payments, they will give only 15 days notice. But legislators feel this is not enough and want regulators to impose an outright ban on abusive practices. Legislators are targeting other practices like charging interest on portions of debt that is paid on time during a grace period, and raising interest rates because a customer is late on payments to other creditors( not the credit card issuer) - which is termed" universal default" in the industry. They do not want to create new laws, but prefer to see regulators act on the problems. Legislation is being proposed that would make some of these practices illegal. Other regulators appear to agree with the lawmakers.

These are serious concerns being raised by our lawmakers. The Federal Deposit Insurance Corporation chairman is not fully convinced that problems regarding credit card industry practices will be resolved by full disclosure alone. Because of the close scrutiny by Congress, several major banks have started to temper or remove some of their most criticized practices. Other federal regulators who were also called to testify expressed support for legislation that would give their offices the authority to curtail practices that are deemed to be deceptive or unfair. Banks may need to do more to allay consumer fears, and eventually, suspicion, resentment. Already one of the major credit card issuers, has begun to, Chase articulate its response.

How banks will respond remains to be seen. The bank has issued a June 12 statement saying that in their view the complex credit card system that exists today will be able to sustain its success if the two principal parties in the relationship- the credit card issuers( banks) and the credit card holders( individual consumers) - acknowledge that theirs is a shared responsibility. The bank must strive to meet the credit card holder s needs. The credit card holder must use the card in a responsible manner. Overall, the bank says the credit card has broadened access to credit to all consumers. The bank has defined what responsibility should mean for the credit card holder: pay on time.

It insists that average interest rates have gone down from close to 20 percent to only 12 percent approximately, and in many cases issuers no longer charge annual fees. Keep within your credit limit. By following this simple equation, the credit card holder gets an interest- free loan for a certain period when they pay off whole balances every month, fraud and loss protection, plus instant and, and other benefits constant availability of credit. And maintain your creditworthiness. The bank also delineates what it sees as its responsibility: make sure customers understand the terms of their credit card account. Give them tools that help them pay promptly time and stay within their credit limits.

Show them how to manage their credit cards. Spot those in trouble and point to avenues for financial solutions. The bank has implemented a set of initiatives to promote greater customer understanding of the terms of their credit card account and to provide tools for managing accounts. And evaluate more carefully the credit applicant s capability to manage debt prior to credit card issuance. This program is channeled mainly through the company s special website, which it says details everything in clear and simple terms. Outlining procedures that allow customers in the military to keep their credit card accounts current when deployed overseas. Some of these initiatives involve: Putting detailed instructions and calculations that clarify the implications of paying only the minimum amounts instead of paying more on the balance, if not paying it off entirely.

Allowing all customers to choose their preferred due date for payments. Installing a system of communications where customers can sign up for timely alerts sent via phone, e- mail and text messages to remind them of payment due dates. Providing instructional materials for students and first- time credit card users to guide them in making prompt payments and keeping within credit limits. Providing for a system of automatic credit card payments. Individual credit card holders like you have made your opinions heard, to both the legislators and the credit card issuers. And, Creating an outreach program to reach those who may be having financial difficulties and to determine what assistance and financial programs can best help them. By heeding your opinions, and altering the criticized practices, holding a credit card is becoming even better than before.

Look For The Mortgage Lead Companies That Acrue Their Leads Through Web Sites They Operate

Category: Finance.

Look for the mortgage lead companies that acrue their leads through web sites they operate. This is very important because most mortgage lead companies will sell their leads up to 7 times and your customer may already be dealing with your competition and not find the need to call you.

If you are a loan officer or mortgage broker on the market for mortgage leads, make sure the mortgage lead company you are scrutinising has a good return policy. If you do decide to go with a mortgage lead company, look for the mortgage lead companies that sell their leads in" real time, " this way you will be getting fresh leads, and you will be able to relytheir quality. According to the Mortgage Bankers Association, the slowdown is seen in the whole industry, lenders, affecting builders, real estate agents, brokers and credit companies. For starters, it would be, without the internet impossible to even buy your mortgage leads in real time. If you do decide to go with a mortgage lead company, look for the mortgage lead companies that sell their leads in real time, this way you will be receiving fresh leads, and you will be able to relytheir quality. Stay away from the mortgage lead companies that purchase their leads from third party vendors and than sell them to loan officers at a profit.

A lot of lead companies purchase their leads in bulk from third party companies, then turn around and sell them to loan officers at a higher price. One of the reasons that these types of more complex loans are becoming ore common on the market is that mortgage lenders have better data support and tools for estimating risks as well as better credit scoring data available. For loan officers and mortgage brokers on the market for mortgage leads, the quality of the lead should be a top priority when making a decision which companies product to invest in. Stay away from the mortgage lead companies that purchase their leads from third party vendors and than sell them to loan officers at a a big profit. If you are a loan officer or mortgage broker on the market for mortgage leads, make sure the mortgage lead company you are scrutinising has a good return policy.

The' Wohnbaukredit' Is A Secured Loan In That The Housing Secures The Mortgage

Category: Finance.

In Austria, and in many other parts of Europe, there is a notable demand for home ownership, or a, and a mortgage' wohnbaukredit' is seen as normal funding for home purchasing.

The' wohnbaukredit' is a secured loan in that the housing secures the mortgage. In fact, a wohnbaukredit is, all throughout Austria the standard method that allows businesses and individuals to purchase commercial or residential real estate, when paying in full value immediately is not an option. Like in all the other types of loans, the' wohnbaukredit' involves a creditor- a bank or a financial institution- and a debtor- the consumer looking to purchase a home or a commercial property. The mortgage, or' wohnbaukredit' may be foreclosed by the creditor, if the debtor fails to meet the conditions of that mortgage, in order to recover the debt. The creditor makes loans available to debtors for the purpose of purchasing real estate, either an entity, while the debtor or an individual, has to pay the interest rates agreed upon. Legal representation may also be involved in this process, due to the legal exchange, which can be fairly complicated.

Given the wide range of options available for' wohnbaukredit' on the Austrian market, the debtor may also choose to be assisted by a financial adviser or a mortgage broker, when trying to find a competitive loan. This is one of the reasons why either participant in the' wohnbaukredit' may choose to be legally represented. Most financial institutions in Austria provide consumers with the possibility to opt for a mortgage in foreign currency, or' fremdw�hrungskredit' . In the case of foreign currency mortgage, or' fremdw�hrungskredit' , are based on the specific currency that the mortgage is denominated in, meaning that the constant change of currency exchange rates needs to be taken into consideration before deciding to choose a foreign currency mortgage as a means for housing purchase. 'Fremdw�hrungskredit' can come with either capital saving or capital loss. This type of loan represents a source of financing for both corporate and personal mortgages. In the event that the domestic currency strengthens against the currency of the mortgage, the debtors will have to pay less in his/ her domestic currency, meaning that he/ she can make capital saving.

This is the reason why, when choosing' fremdw�hrungskredit' , it is highly advisable that the borrower approach a currency manager, who should be able to make use of interest rate savings and debt reduction to pay off the' fremdw�hrungskredit' within its normal lifetime. On the other hand, if it is the currency of the mortgage that strengthens against the borrower's domestic currency, then the borrower needs to pay more, leading to capital loss. As stated above, the Austrian market provides consumers with a varied choice for loans with the purpose of real estate purchasing. Be it' fremdw�hrungskredit' or' wohnbaukredit' , debtors can choose whatever financial institution or type of loan that meets their demands and needs, and are advised to request specialized assistance when doing so, given the complexity of this market.

TIP# 4: Get A Credit Card

Category: Finance.

So you have filed for bankruptcy.

At first blush, you are full of ideas on how you are getting a fresh start. What's the next step? You have freed yourself from almost all of your debts and you are, for all intents and purposes( financially, at least) , a new person. In exchange for a discharge of your debts and stopping your creditors from pursuing any collection actions against you, your credit rating took the brunt of the blow. But note that by filing for bankruptcy, you had to pay a dear price. Considering how your credit rating was probably not all that great to begin with, this recent hit is not going to be an easy one to recover from.

The silver lining? Let's start with the bad news: - The bankruptcy will stay on your credit report for up to 10 years. - To lenders, you would seem a bad risk because you have legally written off at least some of your past debts. - As a consequence, you may not be able to get a loan or a credit card for some time after the bankruptcy. - And if you do get lucky and get approved for credit, the interest rates and fees attached will be rather punishing. Think positive. Credits were what you got bankrupt in the first place. It is good that you are restricted from getting new credit. They will have no difficulty getting you in that place again. Common sense dictates that you lead a simpler lifestyle properly slimmed- down, no frills attached.

Now, for the rebounding tips to help you climb back up from the pits of bankruptcy: TIP 1: Lead a Frugal Lifestyle. In other words, be frugal. The purpose of Chapter 13 is to allow debt reorganization so that you can continue holding on to your properties and other assets in exchange for obliging yourself to pay your debts for a certain number of years. If you filed under Chapter 13, it means that you have signed up for a repayment plan to pay off some of your debts. The bottom line, is that you, therefore are still in debt, you may only, albeit pay a portion of the total debt to your creditors. During this time, the court allows you only a set amount to live on while the court- appointed trustee divides the rest among your creditors each month.

The usual period given by bankruptcy courts with which you can pay off your debts is within three to five years. What does this mean to you? No luxuries whatsoever, except those exempted under the law. As we earlier said, it means a no- frills lifestyle. And sometimes, it may also, just sometimes mean changing your basic expenses, such as how much you pay for shelter and groceries every month. Suffice to say that getting new credit will be a difficult feat, if not downright impossible.

You may even have to move to a cheaper apartment or a more low- end neighborhood just so you can get by with the amount the court allows you. So you can forget about getting a new credit card or a car loan. Besides, you can' t take on a new debt without the court's permission anyway, and getting that means adding an awful lot of complexity in your life. Or at least, getting it the easy way. So how do you go about with barely anything to tide you over through the hard times ahead? Better yet, keep a close watch on your expenses for three months and make a budget based on any observations you have made on your spending habits.

It's simple really make a budget. This is exactly what Greg McBride, senior financial analyst, CFA for Bankrate. com advises. Then create a realistic budget that fits within your monthly income, he says. Track your expenses for three months to get an idea of how much you' re spending and where that money is going. The first step to saving is to set boundaries on your spending. That's the most important part.

And after making a budget, stick to it. TIP# 2: Work on Rebuilding Your Credit. Fortunately for you, filing for bankruptcy does not have quite the same social and financial stigma it once did ten, maybe twenty years ago. Ah yes, the 800- pound gorilla that you would have to take on rebuilding your credit. The purpose of filing is a safety valve, says Roger M. Thank God, the day in which it was like wearing a blazing star on your forehead is over. Whelan, resident scholar of the American Bankruptcy Institute, a nonprofit professional organization.

But rebuilding your credit is the double- edged sword of post- bankruptcy life. However, this does not mean that you would have to steer clear from credit from now on. You have gotten to where you are now because you mismanaged your credit. At first, you may have to, because you are given little choice on the matter. So what are the rules? But sooner or later, you find that you have to get credit to rebuild your financial life. There are no rules.

It does not matter how you do it or how fast. That's the best part about it. The factors can vary widely from the kind of resources you have and the type of bankruptcy you filed for. Whereas, if you filed under Chapter 7, the bankruptcy could stay longer in your credit report say, up to ten years. For instance, if you filed under a Chapter 13 bankruptcy, the bankruptcy will stay in your credit for five to seven years. During that period, it is going to be very, very difficult for you to get credit, let alone work on rebuilding yours from bad to good. Now, if you have a high dollar income, then obviously you are going to have a slightly better edge over the rest.

And yet, if you want, rebuild you must to get back in the financial game. But just slightly. But remember that many apartments don' t report to credit bureaus, so those payments will keep a roof over your head but won' t help you rebuild your credit, business development manager, warns John Ulzheimer for MyFico. com, a division of Fair Isaac Corp. , the company that developed credit scoring. If you managed to hang onto your house, paying your mortgage on time will improve your credit report. Ironically enough, while Chapter 7 filers usually have a hard time getting approved for new credit, they are also usually the ones that have a better chance at rebuilding their credit. That's because you cannot really apply for new credit without getting the court's permission first.

Henry Sommer, an attorney and author of Consumer Bankruptcy: The Complete Guide to Chapter 7 and Chapter 13 Personal Bankruptcy says that while you' re in a Chapter 13( reorganization) , your options are somewhat limited in terms of credit. On the other hand, under a Chapter 7, you are given more freedom in that area since all your debts are discharged. TIP# 3: Adopt a Positive Attitude and Show What You have Learned. The sooner your debts are discharged, the sooner you can get to working on repairing your credit. Experts on bankruptcy insist that attitude and persistence can make a difference on your life after filing for a Chapter 7 or Chapter 1 The consumer who's going to recover faster is the consumer who jumps back in, says Ulzheimer. Hira, a professor at Iowa State University who specializes in consumer economics and family finance. Financial capacity is one thing, says Tahira K.

Mental or attitudinal capacity is the other thing. If you build a savings account, carry no debts and have an emergency fund, you` re saying, I can control, Look my behavior, Hira adds. So being positive can make a whole world of difference. It depends on how good a salesperson you are and how good your behavior has been. Pay your bills on time is the name of the game. And, by behavior, of course, she means your financial behavior or how you carry yourself around expenses and financial obligations. It is also incidentally the easiest way to show to your lenders that you have learned from your past financial mistake and are making every effort never to fall into that trap again.

Can you handle it? In short, youve got to be a model citizen in terms of financial management. Of course, you can! There will be a price attached, which is higher, warns Hira interest. And the only rule to follow is this: Shop for lenders. This gives you all the more reason to be discriminating when choosing lenders. Don' t get hard- balled into paying for high interest rates when you can get virtually the same loan for lower interest.

Don' t just jump at the first credit opportunity thrown your way only to find that the interests are punishing. Compare lenders. TIP# 4: Get a Credit Card. You are the consumer and you still have the advantage of choice. The best way( to establish good credit) is to get a credit card, director of the, says Mark Oleson University of Missouri Office for Financial Success. You generally have two options.

It's ironic because the best way to help yourself is also the best way to damage yourself. You get either a secured card or an unsecured one. Because they lose nothing by this, credit card companies are very open to secured cards. Here's how the two are different: Secured Card. However, personal finance experts are divided on whether or not these cards are helpful to consumers looking to re- establish credit. The limit of this charge card will depend on the amount that you have deposited( it's usually for the same amount) . Basically, a secured card works by depositing money with the bank in exchange for a charge card.

Thus, when you close the account, you get your deposit back. For all the credit bureau knows, you have a credit card and you' ve been using it for some time. The good thing about secured cards, is that some, though of them do not report to the credit bureaus that the card is in fact a secured one. It will show on your credit report as a regular credit line without anything explaining it as a secured card. So a common sense advice would be that if all you get is a secured card, be sure to get the best rates and the least fees. However, that is not always the case.

Before you sign, be sure to read all the fine print. Give it only six months to a year. And finally, use the secured card sparingly. And afterwards, try to negotiate with the company for an unsecured card. Even after you have declared bankruptcy, you may still be able to get a card. Unsecured Card.

It all depends on lender discretion. What's more, there is a, with bankruptcy certain time period where you cannot file for another bankruptcy. Some lenders and banks may even consider you a good risk because you do not have any debts on you. Lenders may take it into good account that you may not be able to file for bankruptcy for a several years. Again, the standing advice is: shop around and always, always read the fine print before signing anything. However, note that there is a very likely chance that you are going to pay for this privilege.

If You Are Like Most People, Having A Lot Of Credit Card Debt Becomes Very Stressful When You Are Trying To Make The Payments Every Month

If you are like most people, having a lot of credit card debt becomes very stressful when you are trying to make the payments every month. This becomes very discouraging because when you receive your next month's statement and you realize that you are making very little progress in paying down the balance.

Most people own way to many credit cards so the can only pay the minimums on each one. Most of a minimum payment amount goes towards the interest, and not toward the principle amount. This will save you time and money and cut out the stress associated with excessive debt. There are several ways to get yourself out of credit card debt faster and more effectively. Negotiate- If you have a good credit rating, negotiate your interest rate with your credit card companies. This can be done more easily with major credit card companies like MasterCard or Visa.

If you are a good customer, they will not want to lose your business and will make the necessary adjustments to keep it. Department store cards are almost impossible to talk down any. Take all those department store cards and pay them off. Consolidate- Once you negotiate a better rate consolidate as much debt as you possible can on to that card. They always have an outrageously high interest rate. This will help you lower the principle amount much quicker, which will save you lots of money. Pay as Much as Possible- When you receive the statement for the card that you consolidated all your debt to pay as much over the minimum as you can possible afford.

The above tips are for people who owe some monies but are not in really serious debt. Home Equity Loan- This is the quickest and easiest way for you to eliminate all of your credit card debt. If you owe a substantial amount of credit card debt, say getting upwards of 20 to 30 thousand dollars you will need much more help than those tips above. Using the equity in your home to consolidate all the high interest credit card will help you immensely and immediately. Many banks offer these loans without any closing fees so you really can' t go wrong. You will save hundreds of dollars every month.

Professional Help- If you have tried all the tips above and you are still not making any headway on your own considers a debt professional. They will also help you fix the underlying problems that got you into this situation. They can work with your lenders and help you to set up payment plans at lower interest rates. Those are a few tips to get out of credit card debt faster. It will also help you save money each month. The stress that you will eliminate is well worth the little bit of time and energy it takes to make some changes.