Entries from April 2011 ↓

Five Strategies to Avoid the Student Debt Trap

There is no doubt that a four year degree can be a valuable asset when you are looking for a better job in today’s society. Unfortunately, the costs of gaining that degree are continuing to rise out of the comfort zones of most parents and students. Student loans can quickly soar into the hundreds of thousands if you do not plan for them.

1. Prepare as Early as Possible

Start a savings account that will be used strictly for college. Even if you are starting late and can only save a little, that account will help you keep the student loans to a minimum. Many states offer special college savings programs that limit your tax liability on the money that you save.

2. Choose a School that Fits your Budget

The different costs between universities can be staggering. Make sure that the school you choose is giving you the best degree for your money. In many cases, a degree from a public university will be just as powerful as a degree from a private institution when you are looking for a job. The truth is that hiring managers look at your grade point average, not your alma mater. Cheaper schools are traditionally less academically challenging, so they make sense from cost savings and job searching points of view. Compare the success rates of graduates from several different schools, and base your decision on what you can expect from the degree.

3. Get Creative

Students have many options when it comes to college. You could take AP classes during high school and cut down on the number of years you have to attend college, which could cut an entire year’s tuition from your bills. Many students are beginning to take advantage of inexpensive community colleges for their first two years of school, then transferring to the larger university for their final two years. Going to school locally for two years will save you on housing and meal expenses as well as tuition.

4. Apply Everywhere!

The government offers subsidized and unsubsidized student loan options that have lower interest rates than most typical loans. Try to cover as many of your costs with these low rate loans before you approach a lending institution to borrow more money. If you qualify, a subsidized loan does not charge interest on the borrowed amount. If possible, a home equity loan is also a less expensive option than a standard student loan. Apply for each scholarship and grant you can find. Many grants go unclaimed simply because no one applies.

5. Have Your Student Calculate the Costs

The most powerful way to cut down on student loan borrowing and overall student spending is to have the student calculate the costs of paying the loans back on their own. Student loan calculators are great tools for bringing the esoteric idea of thousands of dollars in loans down to earth with real life monthly payment plans.

 

Jessica Bosari writes for Technology-Colleges.info, a site that helps students find and apply to the best technology schools. Visit the site to explore computer science jobs and computer networking careers.

Business Debt Relief

A business debt relief service is very important if you have been dealing with financial troubles for a long period of time. You may also want to look into adding the protection of a disability insurance self employed policy in order to make sure that you are protected in the event that you are no longer able to work. When you are self employed, the only way that you will be able to continue paying all of your bills on time is to make sure that you always have work coming in. However, if you become disabled because of a serious injury, this would make it impossible for you to focus on creating the income that would help you to remain out of debt and in your home. If you do not have any protection against disability, you should not wait another day in order to pay for this coverage. Disability is something that nobody wants to think about, but it happens to millions of people every day. Accidents occur when you least expect them, having an insurance policy against this would help you to make sure that you are able to maintain a decent standard of living.

Once you find the disability insurance self employed policy that would provide you with the most protection for your premium payments, you want to pay for the policy right away. Waiting just one more day can increase your chances of being unprotected when a serious accident occurs. As such, you should avoid the tendency that many people have to delay paying for a policy. Once you take advantage of the quote, you would be protected from the money that your payment is processed. If disaster strikes and you are disabled because an accident that occurs next week, you would be able to count on this insurance policy to help you live the quality of life that you deserve. Most importantly, the money from this policy would allow you to stay up to date with the payments on your home or apartment. One of the biggest fears that most people have is how they will continue to pay for their shelter without a source of income. If you do not have insurance, this could land you in the street. Pay for a policy today and you will sleep much easier as a result. If you need business debt relief, be sure to use the best service available today.

Getting a No Teletrack Payday Loan

There are a lot of people who are interested in or need to get a payday loan but are hesitant to do so because they do not have a good credit standing. The recent economic downturn really had an effect on people’s credit history and it is just now that people are starting to recover from it.

However, people can now apply for a payday loan even if this is their case. Their option is to get a payday loan with no Teletrack. What does this mean? It means that the lending company will not conduct a report on their financial history before they decide on whether or not to approve the person’s loan application. Teletrack is a credit agency which is responsible for checking a person’s credit history as requested by a particular company. They will then send a report to the company while keeping it confidential.

It is important to know that there are several lending companies who offer payday loans without checking account or faxing required but still require Teletrack to be conducted. This is because Teletrack’s report is an important factor for them to consider when approving a person’s loan application. There should be lending companies in your area who offer payday loans without conducting a Teletrack. Even if they say that they will not be performing a Teletrack report on you though, they may still choose to do so without informing you of it if only to make sure that you will be able to return the amount of money that you borrowed.

When applying for a payday loan, it is important to keep in mind that its interest rates may be higher than usual. This is particularly because of the fact that it is short term in nature. This is why you should determine whether you really do need the loan or if you have other options.

How To Obtain Tenant Loans

Tenant loans are probably the hardest loans to get; the reason for this is the way banks look at tenants. For tenants, they feel that the banks will not look at them because they are not home owners. The good news is that tenants can obtain loans and there is a large lending industry that is backing it. There are lenders that will specifically cater to helping tenants get loans. Finding the right lender is the key.

If you are looking for a tenant loan you will probably want to stay away from the larger loan companies such as large banks. You will want to look for lenders that specialize in this type of a loan. The way you find these lenders is to look in your local paper, phone book, or simply go to your favorite search engine and do a search for tenant loans. You will find a lot of different companies online that will just love to assist you. Now you might ask if one is better than the other. It’s really the rates that determine that and your credit history. One way to improve your credit history is to have a credit card and pay off your bill every month. So if you don’t already have one, you should apply for a credit card.

There is another way that may be even better when finding a tenant loan, and that is using a broker. Yes, a broker can find someone that will lend you the money you seek and they will set everything up as well. Going to a broker is simple and easy. They gather all of your information; fill out all the paper work. They will also tell you upfront what your chances are of landing the type of loan you’re looking for. This is very helpful and can save you from wasting a lot of time as well as getting the best deal on the market. Brokers only make money when you get the loan. So working with a broker for a tenant loan may be in your best interest.

If all else fails, you might want to consider social lending websites for a tenant loan. These sites allow you to borrow money from other individuals and use the funds for any reason, whatsoever.

Debt Solutions for Different Credit Ratings

A bad credit rating makes life more difficult today than how it used to in the past years. Since the start of the “credit crunch,” it has become increasingly difficult to borrow from lenders. This is because lenders have become more careful in lending money to their loan applicants.

One type of loan that people try to obtain is the debt consolidation loan. This is a personal loan that aims to help individuals who practice good financial management but want to simplify their debts by decreasing their monthly payments. This loan primarily requires a good credit standing in order to get approval. Hence, individuals with bad credit standing may have a difficult time obtaining this type of loan.

A debt consolidation loan works by obtaining a new loan to be able to pay other current debts. Also, this type of loan is not a loan for people with bad credit. It simplifies debts by combining different debts into one single, large loan. It makes budgeting easier. It may decrease interest charges. It also prevents the possibility of missing some payments. Furthermore, the payment term for debt consolidation loans can be extended. Longer payment terms decreases the monthly payments but increases the total loan amount because of interest rates.

Additionally, this is not a home refinance or a bad credit refinance loan. This kind of loan is usually unsecured so there is no collateral. In a typical home refinance, the house would be used to collateralize the debt.

As mentioned, debt consolidation loans are not ideal for problem debts. It cannot solve any financial problem and may even worsen the situation of an individual in a credit rut because of giving an additional loan.
But, there are other kinds of debt solutions that can be an option for individuals with debt problems. Debt management plans and Individual Voluntary Arrangements are two of these very rare types of loans for people with bad credit. Both of these have proven to be helpful for people. However, it takes a lot of commitment from the individual to settle it. Moreover, these debt solutions may call for the approval of unsecured creditors.

How To Avail Auto Loans For People With Bad Credit

Auto loans for people with bad credit are very hard to achieve because banks will never dare to risk their investment just for you. They will protect it and will see your application as void because of your bad credit score. Having a bad credit score will give you a very negative impression that upon seeing it, banks will immediate decline your application. But do not lose hope. Turn on financing companies that will consider your situation. There are some out there especially online that would help you have a car loan despite your bad credit score. Here are some tips that you can follow to make the search easier.

Get a Job

If you finally found a financing company that considers people with bad credit, you should make sure that you have a stable job or any source of income. Having a job will a great plus for your capability to pay your loan. If you do not have any, then start searching for one instead of thinking of a car loan.

Provide a Deposit or Collateral

You can also offer some deposit or collateral to gain their trust. If you can give them valuable collateral then they might give you the loan because they are assured that no matter what happens in the duration of your loan, they can have your collateral and they won’t lose a thing.

No credit check auto loans quotes can be easily found at the internet. You will surely find some companies online that will give you some great deals despite your bad credit score. But before going to all the hustle in finding the best car loan for bad credit quotes you should first make it certain that you can pay for it. Do not do something that will just worsen your situation.