Nocomo: Blog Nocomo: Blog Copyright by Nocomo en Nocomo Tue, 14 Jul 2020 18:53:24 -0400 How Hard Inquiries Affect Credit Score A hard inquiry is a check on your credit when you apply for some form of credit. They remain on your credit report for about two years. Despite the length of time the inquiry stays on your report, it negatively affects your credit score for about a year.

Stated by a Chicago credit repair expert, In some instances, the hard inquiry will not affect your credit score at all. The trouble arises when you apply for a lot of credit in a short amount of time. For example, if you are applying for a mortgage, your credit score might be affected if you have several banks and lenders looking at your credit. Applying for student loans or auto loans at several organizations could negatively affect your credit score, too.

How Much Does the Inquiry Affect Your FICO Score?

The answer to the question is based on your credit score before the hard inquiries begin. For example, if you have good credit and you are applying for a new car loan, it is unlikely that the inquiry will even knock a point or two off of your score. However, if your credit score is already low, hard inquiries might hurt.

People who are building their credit need to be aware of the number of hard inquiries they make. When credit scores are figured, new credit inquiries only account for 10% of FICO scores. So, if you have minimal credit, your score could be changed more significantly than those who have well-established credit.

A good way to keep your credit good is to wait at least three months between the inquiries. Because every point matters, you should pay attention to the number of hard inquiries you have. Your credit report can affect the interest rate you receive from your lender. Therefore, when you are applying for big-ticket items like a home or a new car, be sure that you haven’t applied for credit in the last three months to a year.

Avoid Multiple Hard Inquiries

A credit check might happen at unexpected times. While you have to give approval before someone checks your credit, it is checked in time when you aren’t getting a credit card or a new car. For example, when you rent an apartment, the leasing agency will look into your credit. If you open a bank account, the bank might check your credit. These types of credit checks can add up quickly.

Lenders are reluctant to lend to people with too many credit inquiries. The statistics show that people with numerous inquiries in a short amount of time are more likely to file for bankruptcy than those who don’t.

Stay Aware Of Your Credit Score and History

Fortunately, you can check your credit report at any time and dispute inquiries that appear to be done in error. It isn’t easy to fix credit, but it is possible over time. While you follow your credit score and history to watch for unexpected hard inquiries, you should also take care to pay attention to the other factors that go into your credit report. So make your payments on time, and keep your credit card balances below 30% of your total credit limit.

Uncategorized Editor Tue, 23 Jun 2020 23:05:18 -0400
How Much to Spend on Diamond Engagement Rings? When you are planning to take your love to the next level, you will always want to make sure everything is perfect. However what makes the occasion special is the ring and a heartfelt proposal. After all this one occasion would be cherished by you and your better half as one of the best moments in your life

Points to Ponder

Buying this piece of jewelry does not seem difficult but when you visit the store and start staring at the rows of rings which are available in different shapes, sizes and prices you would find it very confusing and would not be able to make the correct decision. Hence doing some research before buying the engagement ring will help you choosing and deciding on how much you should be spending for an engagement ring.

You can also find more info at

  • Cost of Wedding Bands: The wedding rings are the most important and the most expensive jewelry so we should surely put a budget on it. The average female band cost is around $1,100 while band for men costs around $510. The wedding bands are generally made of white gold which is a popular choice for most women while tungsten is favored by men.
  • Checking where people buy wedding rings: Most people buy most of the necessities online. However when it comes to buying the wedding bands couples prefer gong to jewelry shops. Some of them opt for local retailer while others go to national/regional jewelry chain.
  • Spending on an engagement ring: A person who is thinking of buying an engagement ring should first think of the budget. This would make all the decision going forward easier. You can then think if you are looking for a better quality of a diamond or would you like to sacrifice on the quality and get a bigger diamond. Some couple even goes for simple bands with a smaller diamond to minimize the expenses. Not everyone can save three months of their salary to buy a huge diamond of good quality to impress their better half. You should always make sure that you would be comfortable with paying off for the ring and it may not be a burden to you after your marriage.  Make sure you calculate your current income and bills and determine if the purchase of an expensive ring affect your peaceful married life.
  • Partners Expectation: Discuss with your partner on what type of engagement ring do they want or dream about. Your main motive should be a ring which your partner will love regardless of the price. You can look around different jewelry shops before deciding on purchasing the wedding bands. Involve your partner’s friend who can help you in finding the right ring.
  • Buying jewelry online: Best way to save money on an engagement ring is to buy it online. You can select a reputed online retailer and select the rings from the wide range they offer you in your budget. You also get the option to customize the ring according to your needs.
Uncategorized Editor Wed, 03 Jun 2020 23:14:14 -0400
The Five Most Important Digital Marketing Skills for 2020

Digital marketing in Singapore continues changing rapidly, and as a marketer, you have to keep up with the pace. With so many innovations emerging every day, it is imperative to acquire new skills to remain relevant in the industry. From artificial intelligence (AI), programmatic advertising, chatbots, personalization, video marketing, influencer marketing to visual search, there’s always a trend emerging in digital marketing.

In this fast-paced world, your skills can easily become obsolete. More software, such as financial software, office software, or even VPN tools are created every day. For this reason, you shouldn’t let the speed of the industry outpace your skills or ability to adapt. If you are a digital marketing agency, you should also learn the skills to start recruiting to boost your services.

Singapore boasts one of the highest internet penetration rates in the world at 85%. It has spawned a digital-driven business landscape. Most people also shop online, which has inspired new digital technologies to offer better customer experiences.  As 2019 comes to a close, you have to stay on the lookout for important digital marketing skills for 2020.

This guide explores a few of these critical skills to prepare you for digital marketing in 2020.

1. Conversion Optimization Skills

Many businesses invest heavily in diverse marketing techniques with an eye on boosting conversion. However, these efforts don’t always pay and this frustrates marketers.  It is not enough to employ techniques such as content marketing, link building, and social media marketing without optimizing the same for conversion.

Conversion optimization skills enable the marketer to achieve the desired results in their marketing campaigns. As businesses seek to boost their marketing, content optimization skills will be in high demand.

2.   Social Media Marketing Skills

Social media is integral in any successful marketing campaign. In Singapore, you have over 79% of the population on social media, which makes this a crucial marketing platform. Social media marketing is more than posting stuff on social media. Brands now hire social media managers to run their campaigns.

There’s a lot of analytics, use of artificial intelligence (AI) and machine learning, and other cutting-edge technologies that demand new skills. A good digital agency will have these skills in its ranks for the best service delivery. As competition for social media users goes into high gear, marketers need to refine their social media skills in preparation for 2020.

3.    Data Analysis

Big data is no longer a buzzword but a reality.  Businesses today generate large volumes of data from a large number of contact points. As a marketer, you have to adopt the role of a data scientist in the analysis of marketing campaigns. Different metrics can boost your marketing campaign hence the need for intense knowledge of data. 

Data analysis is now an integral part of the marketers’ job. Digital marketers wear different hats in their roles, and one of these is telling data stories. Their role also includes measuring, managing, analyzing data emerging from marketing campaigns. The idea is to boost the success of these campaigns and optimize return on investment (ROI). These skills are necessary for digital marketing in 2002.

4. Video Marketing

Video content is the king of marketing today and this is a trend that is set to continue. If you are a marketer or business owner in Singapore, you should start investing in video production and marketing. According to recent reports, 53% of internet users engage with a brand after watching its video content.

If you want to boost your marketing campaigns, you have to incorporate visual content. A video on a landing page can boost conversion by 82%. This is only possible if you understand the

basics of video production and new technologies to support this technique. You should also learn new video marketing trends, including personalized videos, long-form videos, video in social media, interactive video, virtual reality (VR), and augmented reality (AR) among others. By learning these video trends, you will prepare for the digital marketing landscape.

5.  Content Marketing Skills

Content is at the core of any marketing campaign, and it has been around for some time. However, content marketing has changed tremendously over the years.  As a marketer, you

have to embrace new ideas, including result-oriented content, video, user-generated content, snippets, voice-centered content, data-driven content, personalized content and much more.

The face of content marketing will keep changing and as a marketer, you have to update your skillset to remain relevant. It is no longer viable to produce content with the sole intent of promoting your brand. Search engine algorithms now require more subtle marketing, with the focus being the user experience.

Wrapping Up

Keeping up with the changes in the digital marketing landscape is crucial for every marketer. It is the only way to survive the cutthroat competition from global brands eyeing the local market. By acquiring new skills needed in the future, marketers will offer relevant services in line with emerging digital marketing innovations. If you are a marketer, these are only a few of the skills you need to prepare for 2020.  They will equip you to serve in a rapidly changing business landscape.

Uncategorized Editor Wed, 06 May 2020 08:52:00 -0400
Five Tips for Negotiating for Better Car Title Loan Deals Negotiation doesn’t come easy for many people. Even if it could be the key to better deals on loans and products, the fear within can be quite overwhelming. When you think of the sky-high interest loans on car title loans, it makes sense to look for the best deals in the market.

The good news is that you can get yourself good deals that will not throw your financial life upside down. The trick is finding these deals. We have outlined five negotiation tactics that can inspire your lender to come down for you. If you are looking to get a car title loan, these tips will help you a great deal.

1. Do your homework

To know the rate you are willing to settle for, do your homework prior to meeting your preferred lender. Look up different companies and compare their interest rates. This will give you an overview of the market rates and what a discount looks like. While you are at it, you may want to research the most competitive rates available in the market currently. This will serve as a bargaining chip during the negotiation talks. If the lender still insists on giving you high-interest rates, simply show them an unbeatable offer by one of their customers. You stand a better chance if you have a good understanding of the competitor’s offering.

2. Educate yourself

Negotiation is a game of confidence and power. One way to feel confident is to be knowledgeable about what you are negotiating about. You need to speak the same language as the lender. Let them know that you are familiar with the loan acquisition process and your responsibilities. Apart from helping you negotiate better, this tip will help you sniff out red flags on the lender’s part and save yourself from looming trouble. Familiarize yourself with terms such as default, vehicle insurance, pay stubs, car resale value, single-payment, lump sum, etc. It will prove quite difficult to haggle if you don’t understand these things.

3. Don’t be afraid to walk away

Walking away is a huge part of the negotiation process. If your lender doesn’t seem to buckle and give you a better deal, take a walk. Remember timing is everything here. If you walk away too soon, you risk burning a bridge that you might need later. Not all lenders you walk away from will run after you. Approach this decision with calmness and tranquility. Slap them with a “great win-win” agreement. If they are till unreasonable and don’t want a win-win situation, it might be time to leave.

4. Loyalty is a powerful weapon

If you’ve worked with the lender a few times in the past, this might be a good time to remind them of this fact. Obviously, you must have a good track record with them before unleashing this card. If you are famous for being late on your payments, defaulting, and refusing to cooperate, you will not get too far with this tip. Arm yourself with all the proof of loyalty and don’t be afraid to show the lender every last one of them.

5. Set yourself as the ideal borrower

Are you the kind of borrower lenders love to do business with? If yes, this could be the key to nabbing low rates during a car title loan. Lenders love borrowers with steady sources of income, zero defaults, and no missed payments. A good credit score may help you through the door as well. If your car was manufactured after 2000, use that to get good rates. Some lenders don’t accept cars that were manufactured before 2000. In addition, mileage restrictions can play a huge part in the selection process. If your vehicle is within the limit, it makes you a good customer to work with. Mention this as well during the negotiation phase.

Emergencies are inevitable. When they strike, we have to get access to cash in a short period of time. Car title loans were designed for this very reason. Although they bear high-interest rates, you can haggle your way to better deals. Even if you weren’t born with the rare talent for negotiating, you can put the above tips into practice. The next time you apply for a car title loan, don’t be in a hurry to sign the paper yet. Take some time to talk to your ender and find out if they can get a favorable deal for you.

Uncategorized Editor Wed, 15 Apr 2020 23:02:33 -0400
How to Formulate an Investment Strategy As an avid investor, the first step to staying on top of your financial goals is to create a quantifiable, realistic and actionable investment strategy.  If done right, this strategy will help inform your investment decisions and encourage consistent performance.

Here are 5 tried-and-true tips that will help you formulate a killer investment strategy.

  1. Set clear, well-defined and realistic goals

You must be able to pin-point what your financial goals are. Before you go down this route, you must understand where you are heading to. As such, you need to define and document both your long-term and short-term goals, a step that will help you figure out your investment personality, you can read more about it at Savings Report.

For instance, do you intend to invest in purely real estate or are you a hybrid investor who gets his feet wet in multiple investment vehicles? Your goals should be crystal-clear and achievable. Don’t say you want to make money in flipping fixer-uppers, instead, state that you want to make at least $100,000 in a year.

  1. Set your investment timeframe

In addition to setting investment goals, you also need to think about the timeframe you need to achieve those objectives. For example, you have a 10-year or 20-year investment timeframe; you have more time to withstand market upsets, and so would be able to consider investment options with more risk but better returns in the long haul. On the other hand, if your investment timeframe is 1 or 2 years, you might want to be too careful with your options.

  1. Calculate your monthly savings

Talking of savings, you should determine how much you need to save every month. If you want to save $1million by the time you’re 60, how much do you want to at the end of each month? Be realistic with this amount so you don’t affect your overall quality of life.

  1. Consider long-term investments

Rather than wait until the end of the year and check how much is there to save, put your long-term savings and investments top of mind. That means that you should set aside some money in your savings account to start investing in your retirement fund, 401(k) or any other worthy investment vehicles.

  1. Put a risk management plan in place

Perhaps the most important thing to do is create a risk management strategy. First of all, you need to figure out what your risks are, and devise ways to mitigating those risks.

Uncategorized Editor Mon, 16 Dec 2019 04:49:30 -0500
How Invoice Factoring Can Help Your Business Invoice Factoring is perhaps the most popular form of business financing. Companies in Australia use factoring to eliminate the need for traditional loans and increase efficiency. Many industries rely heavily on factoring, and, as has been proven many times, it should be. Any industry, from medical to transportation, can benefit from billing. If you are not sure, read below and find out the main reasons for receiving billing services.

No new debt, no loans

When you receive Invoice Factoring, you are not creating new debt, but selling it for cash. Do not apply for a loan, so getting factoring is much easier than any traditional bank loan. No other form of business financing allows you to easily and quickly finance without creating the additional debt or taking a business loan. With this financing tool, interest is not payable or the principal monthly amount payable. Factoring is not a commitment to your balance sheet; it helps solve cash flow problems without excessive debt. Remember that factoring companies do not borrow money that they buy bills.

Get paid within 24 hours

Average bill financing is usually approved within 24 hours. It depends on the company, but no matter when it is approved, factoring offers to finance much faster than any other form of business financing. Many companies offer a 24-hour return after approval. Unlike bank credit lines, factoring finance does not limit the limit of capital that can be obtained and used. The great thing about this form of financing is that with an increase in sales and subsequent growth, the number of accounts that can be included is increasing. You can sell as many accounts as you want. Business owners often spend more than half their time on unproductive tasks, such as collecting, managing, accounting, releasing lenders and finding additional capital. Factoring helps eliminate this wasted time.

Eliminate collections

Factors manage collections professionally. Factors are not debt collection agencies. you should understand the importance of business relationships and treat every debtor as my best customer. FAST billing companies collect bills and reduce the cost of receiving them. You can eliminate the overhead associated with the person involved in the internal collection. When you sell claims to another company, you also eliminate the need to collect these claims. Then the responsibility of the financial company lies in collecting these debts. If you have a close relationship with your debtors, make sure you trust your financial company to handle them properly, or you won’t receive an invoice. In rare cases when your finances are not able to raise, they usually send them back to the debt collection agency.

No contracts

Unlike a bank loan, you do not need to set up your home or physical assets to access capital. The accounts themselves provide security. Since factoring differs from traditional forms of business financing, fewer obligations are attached. Contracts are never included when they are usually simple, with a few warnings. Many companies do not offer contract factoring, which can be very useful in some situations.

Cash flow and credit improvement

Having received this type of financing, you will receive a lot of money all of a sudden. This additional cash flow is the main reason why companies are interested in factoring. Additional cash flow allows you to track various options, from accounts to salaries. It will also help you evaluate the creditworthiness of your company, eliminating the creation of additional debt.

Invoice Factoring billing has so many advantages and benefits that every company that uses accounts in their companies should use this alternative form of business financing. This is a fantastic and cost-effective tool that you can use at any time to increase the cash flow and working capital necessary for doing business. Before concluding an agreement with a factoring company, several types of risks must be taken into account. Keep in mind that factoring financing should be a short-term solution. For larger Cash Flow Finance Australia needs that require long periods of payment, check out other options. You also need to know if your contract includes factoring with or without recourse. In the case of factoring, the business owner is responsible if the client has not paid the bill. One-time factoring means that the factoring company has a risk of default.

Uncategorized Editor Wed, 27 Nov 2019 01:06:46 -0500
Getting Approved for a Car Lease with Bad Credit

If you have a bad credit rating, the chances of you getting approved for a loan to buy yourself your very own car are slim. So, if you have a bad credit rating, unless you really save up for it in cash, it seems like a buying a car of your own would be a questionable option. But what if you really need a car that you could use on your daily commute to work and to run your children to school with? The answer is car leasing. With Wheels4Sure, you have the option for bad credit car leasing with an easy application and approval process, so you do not have to miss out on the opportunity of having the convenience of driving around town even with your bad credit rating.

Reliable Car Provider

Wheels4Sure would be able to help you with your car leasing needs even with your bad credit circumstances. Even if you have an extremely low credit score or if you have been refused credit before, you would be able to apply easily. The same goes from people who are self-employed and have trouble maintaining a good credit rating because their income does not come in fixed amounts each month. With their 95% approval rate for lease applications, they even say yes to those people who have a Country Court Judgment (CCJ) or even those who have been previously declared as bankrupt. However, it would already be beyond their car leasing providing services for people who are currently in IVA’s (Individual Voluntary Arrangement) or Debt Management Plans and those who are currently declared as bankrupt.

Wide Selection of Cars

Just because you have a bad credit rating does not mean that you have to buy the cheapest car around. In fact, at Wheels4Sure, you have a wide variety of car manufacturers and models which you could choose from, depending on your budget and preferences. You have manufacturers ranging from Fiat, Hyundai, Mazda, Mini, Peugeot, Renault, and Vauxhall. You can choose car models depending on your needs, such as if you only need a car for city driving, or if you need a larger one such as an SUV or a family car. You could even choose to drive an automatic. You have a lot of options from a small Fiat 500, a Hyundai i20 sedan that comes in manual or automatic transmission, a sleek Mazda 2 SE-L automatic, a classic Mini Cooper, a Vauxhall Corsa, or larger models like a Renault Captur Iconic or Peugeot 2008 – the option is in your hands. The best part about leasing with Wheels4Sure is that you will always get a brand new car at the start of the lease. 

Flexible Affordability

You could choose a car entirely up to the budget that you could afford each month. You could get a convenient Fiat 500 at only £199 per month for a three-year lease period with an annual mileage of 8,000. Initially, in the first month, you would have to pay more at £299, but for the next 35 months, it would only have to be £199. For a larger annual mileage of 12,000 or 16,000, you would only have to pay a bit more with an initial payment of £399 and monthly payments of £219 or £239 for the higher mileage. If you want a car that is more on the higher end of the spectrum, their most expensive offer is the Peugeot 308 Active on a manual transmission, which you could get for only £399 monthly payments and an initial payment of £899 for the first month, this payment scheme would get you a three-year lease period with an 8,000 annual mileage. If you need higher mileage, you can choose the 12,000 or 16,000 annual mileage option, but you would have to pay for £459 or £499 in the next months. Wheels4Sure also have special pricing offers on certain car makes and models, so be sure to look out for them

Uncategorized Editor Tue, 26 Nov 2019 22:22:59 -0500
3 Simple, Secret Ways to Live Well on Little Money Does it seem that costs are increasing and wages are remaining stagnant each year? You’re not alone if you feel this way, as wages have been stagnant for over 20 years. This means that while the actual wage numbers have increased; the purchasing power has decreased. For example, the minimum wage in 1968 was $1.60, which would be worth $12 in 2019 dollars. This figure is much greater than the current federal minimum wage of $7.25.

Luckily, there are some ways to live well on little money like developing a location independent source of income, living in a country with a lower cost of living like Thailand, and being aware of fundamental US expat tax laws.

1. Develop your source of income

Due to the internet, more workers are choosing to work remotely. This means that they will be able to work from anywhere like the beaches of Bali, to a cafe in Colombia and everything in between. There are many online job opportunities, but the best ones revolve around specific skills sets like writing, graphic design, web development, web design, business development and teaching english. Some of these jobs can be done on a full time basis, while most are considered contract or freelance opportunities.

You could use the following resources to find remote work

  1. Problogger (mainly for freelance writers)
  2. We Work Remotely (various job types)
  3. FlexJobs (various job types)

Besides working a full time remote or freelance job, many people have pensions and/or Social Security, which gives them a fixed, dependable  monthly income. This is more common among retirees and some countries cater to expats with pensions. For example, Panama has a Pensionado Visa which grants retirees permanent residency if they have a guaranteed stream of income of a least $1,000 USD per month. Thailand offers similar benefits, but applicants must have a monthly income of at least 65,000 baht or approximately $2,000 USD. 

2. Choose the right country

Many first world countries like the USA, Canada and Europe have high housing, food and transportation costs. Therefore, it makes sense to find a country that is safe, has a good visa policy and a low cost of living. It’s interesting to see how far your income can stretch in a developing country. For example, you can rent a furnished one bedroom apartment in Medellin, Colombia for $300/mo. or even a have a filling local meal for just $2 in many Southeast Asian countries. 

These lower costs will allow you to live a good life on just $1,000-2,000 per month, which would only cover rent in major cities like Los Angeles. While costs are important, you should look into visa requirements and safety issues. For instance, some countries like Mexico allow tourists to stay in the country up to 6 months with just a tourist visa. Others like Thailand are much stricter and only give tourists a 30 day period to stay in the country. Many expats based in Southeast Asia have to do “visa runs”, meaning that they go to neighboring countries briefly to avoid being fined for overstaying their tourist visas.

Safety is another large concern and you can use sites like the US State Department’s Travel Website to see if your destination is safe. Be sure to take these reviews with a grain of salt as the danger levels of some places like many Mexican cities, are over exaggerated. Practicing common sense safety tactics like not dressing fancy in public, avoiding dark alleys at night, staying in tourist areas, and not flashing high ticket items like phones will keep you out of trouble.

Don’t travel to a country with a level 4 travel advisory, and some of these countries include Venezuela, North Korea and Syria. Lastly, you can use Nomadlist to learn about the cost of living, safety and other vital information about most worldwide cities.

3. Be aware of basic expat tax laws

Taxes can become very complex if you’re from the USA and decide to become an expat. For example, the USA is one of the few countries that taxes its citizens on income that is earned outside of the country. It also has very strict requirements like having expats report foreign assets or bank accounts on form 8938 and the FBAR. If you have foreign bank accounts that are worth at least $10,000, you must report these on the FBAR annually to avoid steep penalties. US expats that have foreign assets like real estate must report values, gains and losses every year on form 8938.

Luckily, the US government does offer expat taxpayers relief through the Foreign Earned Income Exclusion Act (FEIE). The FEIE allows expats to not pay federal or state taxes on up to $105,500 for 2019. This amount is indexed for inflation, but expats must always pay Social Security and Medicare Taxes regardless of their income.

Your personal situation can vary, but it’s still prudent to know the fundamentals of US expat tax law. If you have more complex situations like a foreign spouse and/or substantial foreign assets, consult a tax adviser who specializes in these issues.

Bottom Line

It might seem tough to live well on little money. Most workers haven’t seen their salaries keep up with inflation, which has led to higher debt and lower quality of life. However, geo arbitrage or earning a strong currency like US dollars and spending in a weaker currency like Colombian Pesos or Thai Baht could be a great way to live on less. 

Before making this lifestyle choice, be sure to develop a mobile source of income, choose the right country based on cost, safety, visa situations along with other factors, and know basic US expat tax rules.

Have you ever considered geo arbitrage or made the leap? Please tell us below!

About the Author

Dalton is the lead financial copywriter of Sensible Financial Marketing. He enjoys breaking down complex financial concepts, so anyone can understand them. He also helps businesses gain more leads and increase revenue via converting sales copy, blog posts, white papers, email funnels and more!

When he's not writing about finance, you can find him surfing, playing pool or traveling the world!

Uncategorized Editor Sun, 24 Nov 2019 23:17:09 -0500
Steps To Take When Getting a Business Loan From a Bank Traditionally, banks are associated with catering to larger and established business ventures.

However, banks are gradually warming up to the SMEs and now offering them funding options.

Nonetheless, getting a bank to approve your business loan requires preparation as well as research.

 And in this article, we shall show you the steps you need to take to get your business loan approved by the bank.

Calculate How Much Big of a Loan You Need

The first step of getting a business loan from the bank is calculating how much you need.

Perform a thorough research of the loan amount that you need using a loan calculator, to avoid under-quoting or over-estimating.

While at it, you would also want to state how you want to spend your finances. Often, banks want to assess how the funds will be spent.

If you're looking to purchase and equipment, for instance, it would be suitable if you applied for an equipment loan. And if you are looking to pay debtors, a short term loan would be ideal.

Choose Items for Collateral

Most of the banks usually require borrowers to put up collateral.

Therefore, you need to identify something that will guarantee your loan.

The larger the loan, the more collateral is needed.

Putting up personal assets, or investment further goes to show how committed a business owner is at borrowing the loan.

Write a Business Plan

To increase the chances of securing a loan from the bank, you need to have a solid business plan.

A business plan brings out what your business entails; shows who you are, what your business is all about, and the future plans of your business.

Ideally, a business plan should state the business’s goals, mission, and how it will run to achieve the mentioned objectives.

Clean your Credit Score

All financial institutions, whether banks or online lenders, verify whether you’re eligible their loans and whether you can repay in full and on time.

 One way to do that is through examining your credit scores.

Therefore, when applying for a business loan, ensure that you check on your credit scores and reports.

Ideally, a credit score of 700 and above should improve your chances of securing a loan.

If your score is lower than 600, the odds might be against you, but might as well consider alternative revenue-based loans.

While at it, check for the errors that might appear on your credit report.

Assessing your Lending Options

After verifying your credit report, you now need to research on the available lending options.

If you don’t know how to choose your small business loan company we recommend that you start by asking other business owners within your industry where they attained financing.

In most cases, you’ll realize that banks that have a history of funding businesses comparable to that of yours are the best ones to approach for funding.

Additional, if you get many referrals to a particular lender, it shows they are reliable and might offer you a loan.

However, whatever options you choose to go with, ensure they meet the demands of your business.

Keep the Financial Records in Order

Before approaching the chosen bank, ensure that you've all the proper financial statements.

Having proper financial records in place will make it easier to sail through the screening process. This is because many banks will always want to check on your financial records such as balance sheets, and income statement to determine whether you're capable of repaying the loan.

Therefore, before approaching your bank, ensure that you’re keen on keeping and compiling the financial records in order.


  • Your quoted amount should be justified by your business plan’ financial statements
  • Contact a professional when working on your business plan
  • Be patient. Banks are slow at processing loans, especially the long-term business loans
Uncategorized Editor Wed, 16 Oct 2019 22:54:06 -0400
8 Factors To Bear In Mind Before Taking A Short Term Loan

Over the years, business owners have become aware of the fact that they cannot survive without short term loans. They need instant cash from time to time and it is practically impossible to arrange it internally. Short term loans serve as the ideal solution to bring in quick cash without much hassle. Additionally, the fact that these do not lead to a long term liability makes them ideal for a business. However, things are not as simple as they sound because loans are still liabilities irrespective of their time period. Therefore, you should know their nitty-gritty before you apply for them. Let us share a list of factors that you must bear in mind before taking a short term loan for your business.

Source of short term loan

The most vital factor to consider is the source you are going to get the loan from. You can either approach a traditional lender or borrow online. Traditional lenders include banks, credit unions, and private lenders. Borrowing from them involves a long list of formalities because you need to submit several documents as proofs for getting approval. Things are simpler with online lenders. You need not do much to get a short term loan here because the short term loan application process is as easy as filling a form online. The requirement of documentation is minimal as well and you can even get a bad credit loan.

Type of short term loan

Besides knowing the lender, you need to understand the type of loan you are planning to apply for. This will have a direct impact on the formalities of the application process. For example, personal short term loans require the submission of collateral deposits, business proofs, and income statements. With business loans, you need to mention the purpose of the loan, whether you require one as working capital or for business financing. Short-term loans for students have another set of formalities. Obviously, you would be more concerned about the second category of short term loans.

Interest rate

The next factor that would really matter while applying for a short term loan is the rate of interest you will have to pay. You would surely want to know the rate that the lender is charging and compare it with the prevailing rates in the market. Also, it would be smart to shortlist some reputed lenders and choose the one that offers the most competitive rate. After all, you would not want to pay an exorbitant rate of interest because it is a business expense.

Credit score

Your credit score is an indication of your ability to repay the loan at the end of the term. Anyone who gives you a loan will be most interested in knowing whether you are capable of giving it back. Unless you have a great credit history to show, they will not be keen to help. It is to be noted that your credit score has a direct impact on the interest rate. A poor credit score obviously translates into a higher rate because the risk for the lender is greater. Since there is not much that goes in favor of your repayment capacity, you will have to pay a higher interest for bad credit loans.

Bad credit short term loans

Though bad credit lowers your chances of getting a loan, it does not mean that you will not get one at all. In fact, there are several online lenders who may be willing to provide you the funds you need. However, you have to convince them that you will pay back on time despite your bad credit history. This may be a tough challenge but you can show them proof like a healthy income and stable business for assuring them about your repayment capacity. Bad credit loans may be hard to get but there is nothing that makes them impossible to procure.

Term of the loan

As the name implies, short term loans are the ones that are taken for a short span of time. Business owners prefer this form of borrowing because it gives them instant cash for their needs without tying them with a long term liability and interest burden. They simply apply for the loan and use the funds in the present and quickly repay the loan, often within a few months. However, you must clarify the implications of not being able to repay the loan within the agreed loan term. The lender may give you the option of a rollover to carry the loan ahead for another term. But you may also have to repay by taking another loan if the lender is not willing to extend the loan.

Repayment process

Typically, short term loans are to be cleared over a short span of time by making regular payments to the lender. These payments are calculated by including the interest as well. Before you take a loan, you should know the entire repayment plan so that you can handle it comfortably enough. Discuss this aspect with the lender and have a clear idea about how repayment would work and whether you require any changes in the plan.

Hidden fees

Besides the interest that you need to pay on a short term loan, the lender may also ask you to pay some charges and fees. These may be in the form of origination fees, administrating fees, underwriting fees, and processing charges. You may be taken by surprise because of these charges and fees. It is better to ask the lender to list the hidden charges upfront so that you can calculate the overall cost of the loan and decide whether it is feasible for you. It is better to look for a lender that does not burden you with such hidden charges.

Knowing these factors about short term loans is essential so that you know where you stand in terms of interest burden and repayment. Not having clear and proper understanding can cause problems and you may even be tied down by a loan that you may not be able to clear out within the agreed timelines.

Author Bio:  A graduate in banking and finance, Marcus Ryan has worked for top financial institutes before he decided to make a switch to writing. Currently working as Content Strategist with Outreach Monks, he has an eye for what’s best and the rest.

Uncategorized Editor Wed, 09 Oct 2019 08:44:36 -0400
When to Refinance Your Mortgage: Before or After Bankruptcy When credit card debt, personal loan debt, and other debts become unwieldy and completely overwhelming, sometimes the best solution is to declare bankruptcy. Though this is often a less-than-ideal situation, sometimes it can help a person completely wipe their financial slate clean and have a fresh start in a matter of years.

Belongings with a lot of emotions attached to them are often involved in a bankruptcy, one of which may be your home. If you want to keep your home throughout a bankruptcy, you may be wondering if you should refinance your mortgage for a lower rate before or after bankruptcy. The answer to this question really depends on when your chances of being approved will be better, and what type of bankruptcy you’ll be filing. 

Types of Bankruptcy

To quickly recap, there are two types of bankruptcy, Chapter 7 and Chapter 13. Your ability to refinance will be determined, likely, by which one you file. Chapter 13 will require three to five years, and though it may be easier to refinance with this type of bankruptcy, your request to refinance will need to go through the court system. A Chapter 7 only takes a few months to clean up, but it will make it much harder to refinance.

If You Want to Refinance Before Bankruptcy

Understand that refinancing before you file bankruptcy may or may not be possible. If you have a low credit score or a lot of unsecured debt, refinancing may not be an option. The application process can be extensive, and some lenders are more strict than others with it comes to whether or not they’ll allow you to refinance when you’re on the brink of bankruptcy.

Keep in mind that even if you do refinance, you’ll have to provide proof of what you did with any money you take out of your home’s equity. You may be able to get around this if your state has a bankruptcy exemption, but not all do. That said, it’s a good idea to leave your home equity where it is if you’re about to declare bankruptcy. 

If You Want to Refinance After Bankruptcy

Even if you do want to refinance after declaring bankruptcy, know that this may not be possible for a few years. Some lenders won’t allow a refinancing application until a few years after your bankruptcy was filed. Even then, your application may not be strong enough to get a refinance approval. Even though bankruptcy gets rid of unsecured debt (except student loans) it still makes you look like a risk to a lender and can therefore hurt your refinancing application.

However, keep in mind that all lenders are different and if you’re set on refinancing before or after bankruptcy, it won’t hurt to check with your lender and apply to see what may be possible. But it’s important to remember that if you’ve filed a Chapter 13 bankruptcy, you can’t do so without asking the courts first.

To Refinance or Not Refinance?

At the end of the day, consider where you’re at in the process of filing for bankruptcy and consider whether you’ll be able to refinance later, and whether your application has a chance beforehand. Contact your lender to determine what your options look like and be sure to make the decision that will best benefit your financial situation in the long term. 

Written by John J Scura III, Esq.                                                                                                         
Partner, Scura, Wigfield, Heyer, Stevens & Cammarota, LLP

John has been Certified by The Supreme Court of New Jersey as a Civil Trial Attorney.  Whether it is a personal injury case, bankruptcy case, litigation case or other type of matter, John wants his clients to participate in the decision making process toward solving their problem in the best way possible.

Uncategorized Editor Tue, 27 Aug 2019 16:30:37 -0400
Top Benefits of Outsourced Payroll Services in Aruba

Top Benefits of Outsourced Payroll Services in Aruba


Payroll is how you reward and maintain staff, compensating them for the work they have accomplished. If there are mistakes due to miscalculation, you will end up with unhappy, unmotivated staff. Payroll management is one of the most important aspects of a company and has a direct impact on company growth. The main reason businesses outsource their payroll functions are for specialized skills. Payroll outsourcing services in Aruba offer a variety of advantages to the corporate sectors, particularly to small and medium-sized businesses in Aruba. Some notable benefits are:

Outsourced Payroll Reduces Costs

Accurate reporting needs full and correct records of employees. Without the right technical resources, it can be difficult for companies to complete this task. Outsourcing payroll can assist companies reduce their operating costs by providing the necessary software to streamline the process.

As per small and medium-sized business trends, outsourcing your payroll management helps business owners and their employees focus more on core organization practices, saving up to 80% of the payroll management cost for your business.

Saves Your Time and Let's You Focus on Core Business

Creating payroll takes a lot of time because it involves a lot of data and is a time-consuming process. Outsource your payroll management to focus on business growth rather than playing with the numbers. Outsourcing payroll can help employees free up their time to focus on more important and more job-specific responsibilities.

Enhance Security & Reduce Risks

Payroll processing is a complicated, possibly risky business operation. There is always a risk of identity theft or embezzlement of money for private gain, even with trusted staff.

There is also the usual risk when using in-house payroll software: How secure and secure is payroll information on a company's server or network?

This issue can also consume the energy and attention of a business owner. Outsourcing your payroll management eliminates all these risks as you deal with a professional company having good reputation in the market.With professional payroll outsourcing companies, security of the confidential data like pay packages can be ensured.

Tax Saving

High penalties can be avoided by identifying inaccurate filings and tax payments, and surveys say that almost 40 percent of companies around the globe sometimes get impacted in a lifetime due to incorrect filing and tax payment. And that's why payroll outsourcing businesses are the best option for your company.

Financials4rent offers outsourced payroll services for small businesses in Aruba. We take care of all your salary-related affairs, so you can free up time to concentrate on your core organization. We also provide best customer service, ensuring the offering is cost-efficient and easy to implement.

Uncategorized Editor Mon, 19 Aug 2019 08:20:40 -0400
Financial Accounting Basics Startups Must Know If you are thinking of launching a business or you recently started on the journey of one, then kudos to you because it isn't an easy task. However, many entrepreneurs make some financial accounting mistakes that prevent their businesses from excelling. Read on to know some essential tips that will help keep your finances in check and enhance the growth of your startup.

  1. Manage cash flow

Most startups do not succeed for several reasons. One of these reasons is quite more common than the rest - getting short of money. As a new business owner, you should know where every single penny comes from and where it goes. Managing your cash flow is very important because your inability to do this may put your business in a dangerous position. It matters little if yours is such a brilliant business idea. You will hit a brick wall the moment you run out of money. The way out of getting financially incapacitated is by establishing a budget and ensuring that you stick to it.

  1. Spend time wisely

Every business person should know that every minute has some monetary value. There's a famous saying that "Time is money." When you make a plan of your day-to-day activities and schedule, take into consideration the timing of each duty. This action is necessary because every second you spend on something that isn't related to your business is a waste of time and money. Sometimes, you may never be able to recover.

  1. Track and monitor expenses

It is certain that with a startup, there are so many expenses coming at you from every angle. Hiring a full-time accountant to handle your financial activities, in the beginning, may cost you a chunk of your budget. It would be better for you to use reliable accounting software such as Sunshine Coast for the better finance organization. Monitoring all that you spend will not only help with your cash flow, but it also makes accounting easier when it's time to pay an annual tax. As your business develops and the accounting gets more complicated, you may need to consider hiring an expert.

  1. Prepare for the worst

You will never envisage what can occur when you start a business. So, you should prepare yourself for a possible bad situation. Anyway, continue to remain optimistic. Try to save up in both your personal and business accounts, for cases of emergency. One can never be too prepared for adverse occurrences. Unfortunately, they do happen when one does not expect them.

As an entrepreneur, your retirement is your responsibility. Hence, you should work towards it by making investments, even small ones. If you do not save for rainy days, you might find yourself back in square one. Hence, always foresee a future where your business may not run smoothly and make adequate plans to rescue it from collapse.

  1. Focus on acquiring customers

Your business is non-existent without customers. The sooner you find a way to acquire customers, the higher the chances your business has to succeed. Identify different acquisition channels available to your company and work on optimizing them to lower your costs. Focus on the opportunities that are most lucrative first so that you can have the finances to explore other channels.

  1. Limit fixed expenses

At the beginning stage, it is expedient that you set limits to your fixed costs and keep them low to prolong the lifespan of your business. For instance, you do not need a large, elaborately furnished office located in the best parts of the city. Neither do you need fully catered dishes three times daily? As much as you would like to make yourself comfortable and your establishment conducive enough, unnecessary spending may run your startup down.

Operate thin so that you can distribute the significant part of your capital to grow. This will consequently enable you to achieve whatever perk you may want. Many startups focus on the wrong things, such as over-the-top amenities and fancy offices. They forget that their top priority should be about generating revenue.

  1. Establish financial goals

When you have a vision of what you want your organization to become or how much you'd like it to expand in specific years, the next step is for you to implement that vision. Start by breaking your financial goals down into measurable and reachable ones. Your business will achieve more constant growth when you remain on track with your revenue goals.

In conclusion

You might think that you didn't get into business to become an accountant, so why do you need to learn these accounting tips? Well, understanding these basic concepts will keep you better informed. And, help you make better predictions of your company's future. Apart from guiding you to make smarter financial decisions, the concepts emphasize on your two most valuable resources as an entrepreneur - time and money.

Uncategorized Editor Sat, 17 Aug 2019 06:20:02 -0400
Before You Sign Up: How to Analyze FAHW’s Warranty FAHW is one of the leading home warranty providers in the US. Its services are available in the majority of states and it has multiple positive customer reviews, even on reputed platforms like the Better Business Bureau. The company offers comprehensive coverage and offers great value for money.

A Bit of History: FAHW Home Warranties from 1984 to 2019

FAHW is one of the industry veterans, which first appeared on the market in 1984. Since that time the company has grown tremendously offering its service in all but 16 states. Today it is one of the most reliable in the business with comprehensive coverage and rather low premiums, considering the industry standard.

This company services 523,600 homeowners in different parts of America, and that’s despite the fact that it only offers two plans, Basic and Premium. The company obviously understands the needs of the average homeowner as its plans fit the majority of homes offering comprehensive coverage for the essential systems and appliances within.

The cheapest Basic plan covers: fridge, washer, dryer, garbage disposal, microwave, oven range, cooktop, and trash compactor. Premium Plan extends the coverage to home systems (electrical, plumbing, heating, etc.) and appliances like a vacuum, water heater, and even your garage door. There are also a variety of items you can include as Optional, such as pools, spas, and fans.

According to a recent FAHW analysis, the company is most praised for the quality and speed of contractors’ work. It has similar coverage to the industry leader (American Home Shield) but lower premiums, which explains why this provider is one of the people’s favorites today. It’s also on the Fortune 100 Best Companies to Work For 2019 list.

Reviews indicate that the company ensures emergency repairs are done as soon as possible. However, in non-emergency cases, the repair timeframe is about two days. But you get a chance to get a free second opinion, which only a quarter of the nearly 200 companies in the industry offer.

Most importantly, FAHW has a very straightforward fine print. This means that the risk of being cheated, which is high in this industry, is minimal with this provider. Although there are some complaints about the business, this company isn’t associated with any major incidents like the infamous Wells Fargo scandal.

Pros and Cons of Using Home Warranty Plans

Using FAHW’s home warranty policy can save you a lot of money in cases when one of your expensive home systems or appliances break down unexpectedly. In this situation, you won’t need to delve into your emergency fund (if you even have it) or try to settle for a life without the essential item until you manage to save up for a replacement. The plan will cover a significant part or all of the repair cost.

In the case of FAHW, the limits on repairs range from $500 to $3,500. This means that you might save up to $3,500 and even get the item replaced in some cases. The exact terms for every covered item are outlined in the contract, so take your time studying them.

This kind of protection is most beneficial for:

  • Homeowners, who just made an upgrade or installed new systems and appliances. This kind of extra protection will extend beyond the manufacturer’s warranty.
  • Home sellers, who want to sell the house faster and for a higher price by offering this kind of additional guarantee to the buyer.
  • Landlords, who benefit greatly from not only having extra protection for their property but also from the home warranty company being the one point-of-contact for all repairs.

However, you also shouldn’t forget that a home warranty might be a disappointment to the homeowner. This usually happens in the cases where you don’t use the coverage or only use it for minor repairs. In the latter case you will still have to pay a $75 service fee, which makes even a minor repair not so “minor”.

Another important issue to consider is the possibility of home warranty scams. It’s when the company doesn’t honor its obligations and refuses to pay for the coverage you are due. Unfortunately, such things happen rather often, especially with the new companies that seem to exist for the express purpose of collecting a small fortune in premiums and disappearing with no forwarding address.

The industry also has a major issue with claim denials. These cases are rarely black-and-white and they usually boil down to squabbling over loopholes in the contract’s Terms and Conditions. That’s why it’s essential to study that part of the contract with extreme care and take your time to read through all the fine print. If you don’t understand something, get clarifications before signing up. This might be the thing that makes a difference between you being satisfied and disappointed with your home warranty plan.

What Is FAHW’s Standing on the Market Today?

Many people seek out the biggest companies on the market when they want to find the best ones. After all, it should be natural that the most successful businesses can be trusted. It might be trickier with the home warranties market because this industry is rather new and unbalanced. According to Statista, the top six companies in the industry claim nearly 80% of the market.

And of those six, FAHW is the second biggest. Therefore, even when assessed from this perspective, the company shows itself to be reliable.

Of course, it’s not perfect, and no provider in this industry is. However, with the Better Business Bureau rating of “B+” and hundreds of thousands of satisfied clients all over America, FAHW stands strong.

The company is rather transparent and you can gather a lot of information about it. You definitely should do this in order to make sure that you can trust this provider. But don’t forget that you should obtain information from a variety of sources, because each of them is sure to be biased in some way.

Analyze the information you collect with a cool head and think about your needs. Will this particular plan offer the right kind of protection for you? Are you satisfied with the terms? Are you satisfied with the quality of service you received when you contacted the company for information?

Answer all these questions before making the final decision.

Uncategorized Editor Thu, 15 Aug 2019 16:55:24 -0400
How to handle a situation when you urgently need cash today Financial emergencies can be of several types. There might be multiple occasions when you can be faced with a situation where an urgent requirement for cash will be demanded. It could arise out of medical urgencies, accidental occurrences and many such. Sometimes the unpredictability of an incident makes it more vulnerable and the cash becomes hard to be arranged at those pick hours. Though friends, relatives, banks, and other financial institutions always remain as the savior with money lending provisions, there are certain aspects which must be considered while battling the situation. The logical mind must not be paralyzed during the critical hours.

Think Peacefully

In case of any financial emergency, the first thing that one should do is allow some time to think over the entire situation in a calm mind. An anxious mind often leads to flawed solutions and less effective measures. When thought in a peaceful mind, the best ways out of the bottlenecks seem to appear. To ensure that you make your way out of such a situation effectively, appease your mind and think over the possibilities to choose the best one out of them.

Choose The Best Option

Once you have identified the potential avenues from where you can arrange the money, it is time to recognize the best out of it. The best way is not the one which would provide you with maximum cash, but the one which would entitle you to the sum at less cost. Evaluate the rate of interests associated with the loans and choose the one that seems to tax you least. The other aspect that must be considered while judging the options is the processing time. when in an emergency, a loan that can be processed without any time lapses should be o your priority list even if it comes at a higher price than the one with low costs and substantially high processing time. If the difference between the processing times between a high cost and low-cost loaning option is negligible, you can consider the later depending on the status of the urgency of the situation.

Plan Your Action

Every loan involves a planned execution and the same has to be done neatly even during the rush hours. When we know that you have less time than required to get a job done, we tend to lose control over our meticulous mind. But, the paradox is, this is the time when your logical functioning is the most required. Make sure that you have identified the best source for the loan and initiate the process for application considering the approval time.

Do Not Panic If You Need Cash Today

Panicking about a situation will never get you out of the situation. Therefore, the best option is to approach any emergency with the best of your abilities and reasonability. If you fail to keep the anxiety away, you can also consider consulting a therapist to help you come out of the mental apprehension.

No situation is permanent and a coherent mind always handles the difficulties best. Hence, if you need cash today, you can find a payday loan in Toronto or think over the options and act accordingly instead of panicking.

Uncategorized Editor Tue, 13 Aug 2019 05:48:17 -0400
Why online credit agencies are better than traditional institutes if you need cash today? Financial emergencies may crop up at any time. If you do not have cash in the savings account, then you need to look for alternative options. Credit or short-term loan can come to your rescue. The credit system has evolved over the years. It is one of the main pillars of the economic system. Experts, associated with the financial field have adequate information about the application and issuance process of credit. It can be rather overwhelming for a novice to take in so much at the onset. Thus, it is wise to opt for the services of an expert credit agent.

Earlier, the market was dominated by traditional credit sources. The banks and other financial intuitions were most sought after by the probable borrowers. However, there were both registered and unregistered independent loan agents. With the inception of the internet, the credit market got another avenue to diversify. It laid the foundation for online credit agencies. Recent studies suggest that most people turn to these portal-based agencies to get meet emergency financial requirements.

Go online if you need cash today

Several factors worked in unison to pave the path for the rapid growth of the online credit sector. It does not mean that the traditional institutes have faded into oblivion. But the main issue with reputed loan institutes is that they do not entertain people with a low credit score. If you are a passenger of the same boat, then online loan companies will come to your rescue. Experts opine that the establishment of portal-based credit companies has made the process simpler, faster, and easier.

Easy online application

Hassle of drafting the credit application documents was unnerving for those who are unaware of the ins and outs of this sector. With these online credit companies, interested borrowers no longer have to worry about this. Individuals who are in a hurry will need cash today. With online loan agencies, they need to fill in a digitized application form and highlight the amount they require.

Once the application form is submitted, the company officials will check the details and background of the applicant. The decision of issuing the loan will not depend on the credit score of the person. Thus, it is an ideal alternative for people with a poor credit score. The scrutiny of the applicant is done via software. It provides fast result generation. Once the applicant signs the repayment contract, the online credit company deposits the money in the person’s bank account.

Several loan packages

The financial requirement of one person will differ from another. So, there is no universal loan package that can satisfy all borrowers. The R&D department of these loan agencies continually work to come up with new loan packages. Whether the amount is significant or small, the agencies have a credit package that meets your requirements perfectly.

Each day, more and more online credit agencies register in this sector. Take the necessary precautions to stay out of the traps of fraudulent companies. Research and then pick an online loan organization that has a positive market reputation.

Uncategorized Editor Tue, 13 Aug 2019 05:47:19 -0400
The Benefits of Working With a Credit Repair Company You may be under the impression that the solution for everything in life can be found online. Perhaps you are right – there is a lot we can find on the internet that was not available to previous generations. Regardless, though; there are situations where you will need to hire real-life professionals.

Hiring a Credit Repair Company

Let’s say you need to improve your credit score, it’s best to forego the internet and actually hire a specialist in this field to assist you. You may be asking why? The internet can help you uncover tips on how to improve your diet, change a tire, and assemble a couch. So, why wouldn’t it be the perfect place for information surrounding how to repair your credit score?

Credit repair software will have you doing 99% of the work.

Plus, you will be taking up more time going through software programs than having someone else do it for you.

These are just a few examples, but not the full spectrum. Now, let’s take a deeper dive into why you should hire a credit repair company rather than doing it yourself.

A Professional Helps You Save Time

Stated by a credit repair company in Austin, while you will still be involved in the process and have to make the initial connection with a credit repair specialist, you will be required to do minimal legwork once that relationship is established. Once the credit repair professional has gathered all the information they need, they will be able to hit the ground running and provide you with regular updates on the progress.

Someone Who Cares

While a software program will have coding to assist you, having a real person in your corner will prove to be way more valuable in the long run. A professional will be able to take into account what your short-term and long-term goals are and formulate a personalized solution that meets your specific needs. Communicating with credit bureaus without knowledge of consumer protection laws is extremely difficult, so partnering with a knowledgeable professional who can take the reins for you is incredibly powerful. They know what to say, who to talk to, and what steps they need to take to help improve your credit score.

The Possibility of Money Back

There is no money back guarantee when you install a credit repair software program. When you hire a professional and sign a contract, however, you will usually receive a money back guarantee option should you not be satisfied with the services.

Open Communication

If you install a credit repair software, there won’t be any two-way communication with a professional who can provide you with a comprehensive understanding of what is going on. With a credit specialist, however, you have an open line of communication, you can tap into to learn about the process, pose questions, and gain insight into where corrective action can be made. It’s important to know what’s going on with your credit, and it helps to have an advocate on your side to explain everything to you.

You may not realize at first that bringing on a professional credit repair company for your credit improvement is the way to go. You shop online, communicate online, and basically have everything you need online. In this digital age, real-life interactions are undervalued and underutilized. There’s a myriad of benefits you can reap from having an actual person guiding you through this process.

Uncategorized Editor Sat, 27 Jul 2019 04:41:05 -0400
How to Get Low-Interest Loans Even with Bad Credit Bad Credit Loan

Bad credit loans can be called as personal loans that help you to face financial emergencies even when your credit score is below what you and the banks would like. Many people who have bad credit scores worry about getting loans from big banks. It is because their low credit scores put a limit on their borrowing options.

The bad credit loans come in handy whenever you have a financial emergency like you car needs to be repaired or a medical bill, electricity boll, rent, tuition bill, etc, is on your head.  These loans are treated as personal loans and just like personal loans, you can pay them back in monthly installments. You can opt for a bank loan but it usually comes with a high interest rate for a low score.

However there are other options that will charge lesser interest rate.

  • Credit unions: The maximum interest rate is 18% making this a great option.
  • Family and friends: They will charge you very less or no interest rates.
  • Finding a co-signer: This will allow you to obtain a lower interest rate by using someone else’s high credit score.
  • Home equity: You can get a loan with home equity as proof.
  • Online: You can opt for getting bad credit loans with Personal Money Network or other such online money lenders who provide you with loans.

Of course there are other options like loans from retirement accounts, payroll advances, borrowing against life insurance, etc. but those should be your last resort.  

What are bad credit scores?

Credit scores represent your likeliness to pay back a loan. They range from 300 to 850. The lower your number, the less likely you will repay and vice versa. Bad credit scores range from 300-650. The people who fall in this category are considered as high-risk candidates. They also pay the highest interest rates and are the chief candidates for these loans.

The commonly accepted range is:

  • Excellent: 760-850
  • Very good: 759-700
  • Fair: 660-699
  • Poor: 659-620
  • Extremely poor: Under 620.

However, the definition of bad and good credit scores varies from lender to lender. While some lenders would not lend to anyone below 650, some market give loans to people with 650 or lesser credit score.

Credit utilization, on-time payment of your credit card bills or loans, new credit applications are the three factors that affect your 75% credit scores. If you are able to minimize these, your credit score can improve by 100 points in just six months.

How does your credit score affect you?

If your credit scored is considered good by your lender, you will easily receive a loan with a low interest rate. But, if a lender considers a person’s score bad, the loan might be rejected or be provided with high interest rates. 

The average credit score of Americans was 700 in 2018, 11 point higher than 2008. But this doesn’t mean that everyone has a credit score of around 700, right?  The people above sixty years have an average score of 743 while the youth (18-29-year-olds) only have a score of 652.

The 91 point difference costs a lot of money when shopping for auto or home loans. 

Consider taking a 30-year, $200,000 home loan. If your score is 619 or lower, you will have to pay a total of $212, 502 interest, whereas, if you stand somewhere between 760-850, you will pay $154,744.

In case of a six year, $25,000 auto loan, you will pay a total of $2924 interest if your score is above 700 while if you are below 620, you will pay $13,345.

How can you obtain a loan with bad credit?

The first step is to improve your credit score for comfortable loan offers. Make timely payments and don’t apply for new credits if you want your credit score to improve.

If taking the loan is an emergency, requesting the loan officer in your interview with them and convincing them that you will repay the loan might help.

In the interview with your loan officer, be prepared with documents to show you that you are liable. Lending institutions look for stability. So, if you can prove to them that you have lived in the same house or city, worked the same job with the same employer for several years, it will definitely help you in your appeal for the loan.

You can show your tax returns, alimony or child support, list of assets to strengthen your case. The key is to convince the money lenders that you have become responsible with your money and their money is safe with you. So, any of the documents that prove it will help.

Who provide bad credit loans other than banks?

  1. Credit unions:

Credit unions willingly provide loans to everyone regardless their credit scores. With a low credit score, a bank may charge up to 36% interest rate but a credit union will charge maximum 18% for the same amount.

  1. Friends and family:

They might not judge you over your credit score. Friends and family will not even ask for a high interest rate. But it is noteworthy that delayed payments or default in payment might cost your relationship with them.

  1. Get a co-signer:

You can jointly take up a loan with someone with a good credit score. The lender will give cheaper loan based on high credit score of the co-signer. But in such cases, both of the loan takers are equally responsible for its payback and timely payments. However, if you manage to pay on time, your own credit score will improve.

  1. Home equity loan:

There is an option to take up a loan with your home as security. In such cases, the interest charged is low since the security offered is strong, even though your credit score is low.

  1. Online personal loans:

The loans are provided by lenders that are banks but without offices. They work faster giving you loan in minutes or hours. The loan applications are free of cost and easy to fill out. Also, your low credit score isn’t the only factor that affects their decision to lend.

Uncategorized Editor Mon, 22 Jul 2019 03:55:00 -0400
Smart Financial Moves in Your 20s, 30s, 40s & 50s If you had a timeline of the financial steps you should probably take in life, what would it look like? Answers to that question will vary, but certain times of life do call for certain financial moves. Some should be made out of caution, others out of opportunity.

What might you want to do in your twenties? First and foremost, you should start saving for retirement – preferably using tax-advantaged retirement accounts that let you direct money into equities. Through equity investing, your money may grow and compound profoundly with time – and you have time on your side.

As a hypothetical example, suppose you are 25 and direct $5,000 annually for 10 years into a retirement account earning a consistent 7%. You stop contributing to the account at age 35 – in fact, you never contribute a dollar to it again. Under such conditions, that $50,000 you have directed into that account over ten years grows to $562,683 by the time you are age 65 with no further action from you. If you contribute $5,000 annually to the account for 40 years starting at 25, you end up with $1,068,048 at 65.

Aside from equity investment, you will want to try and build your savings – an emergency fund equal to six months of salary. That may seem unnecessarily large, or just too grand a goal, but it is worth pursuing, particularly if you are married or a parent. You could suffer a disability – not necessarily a permanent one, but an illness or injury that might prevent you from earning income. About 25% of people will contend with such an episode during their working lives, the Council for Disability Awareness notes, and less than 5% of disabling illnesses and accidents are job-related, so workers’ comp will not cover them. As Money notes, just 13% of millennials have disability insurance.

What moves make sense in your thirties? You may have married and started a family at this point, so your spending has probably increased quite a bit from when you were single. As you save and invest in pursuit of long-range financial objectives, remember also to play a little defense.

You should think about creating a will and a financial power of attorney in case something unforeseen happens. Another estate planning/asset protection move that becomes essential at this point is life insurance. Right now a 20-year, $250,000 term life policy for a 35-year-old can cost less than $30 a month. It will not build cash value like a permanent life policy, but it can easily be renewed (and in some cases, converted into permanent life insurance).

What considerations emerge between 40 and 50? This is where you may be “sandwiched” between taking care of your kids and your elderly parents or relatives. Your spending may reach a new peak; hopefully, your salary is rising as well.

Try to maintain your retirement planning effort in the face of these financial stresses – your pace and level of retirement account contributions. You may have teens or pre-teens at home, and if you have not yet considered creating a college fund that can grow and compound over time, now is the right time. You should not dip into your retirement fund to pay for their college educations, no matter how onerous college loans may seem.

You may want to look into long term care insurance. If you are wealthy, or soon will be, it may not be worth buying; you may have the money on hand to pay for years of nursing home care (or other forms of eldercare) that might be needed as you age. If you find yourself in the middle class, LTC insurance may be worth the expense depending on your health history and health outlook. Buying it before age 50 and while you are in good health is a wise move, if you are interested in such coverage.

Between 50 and 60, you are in the “red zone” before retirement. If you can, accelerate your retirement saving through greater contribution levels and/or the catch-up contributions allowed for many retirement accounts after age 50. You may want to tolerate less risk in your portfolio as retirement nears; you may not. Some investment professionals contend that in this era of low interest rates and low inflation, it makes much more sense to tilt a portfolio toward equities than toward fixed-income investments – provided you can put up with the inevitable volatility. Other investment professionals feel that is simply too risky a decision, even with some boomers needing much larger retirement nest eggs.

If possible, think about (and plan for) an approximate retirement date. Aim to reduce your debt as much as possible by that time or earlier. Retiring with multiple major debts can be stressful to say the least. Lastly, check in with a financial advisor in Charlotte, NC to gauge how close you are to realizing your long-term financial objectives.

Uncategorized Editor Thu, 18 Jul 2019 06:54:17 -0400
How Does Health Insurance Work: Understanding Benefits

Are you seeing the ever-increasing cost of medical care? Yes, that is happening with everyone around the globe.

While one is traveling to seek medical assistance abroad OR going to the specialists around their local areas or within the country.

It is all going to cost for sure.

And then comes the real turn of signing up for a good insurance program.

But is it only enough to just subscribe to it and be all done?

Of course, not. It is not really the single entity to just go for it and you are all done.

What we really have to understand besides the cost and the monthly premiums, to know how does the health insurance really work.

So, how does it really work and we will tell you all.

How does health insurance work

How means the procedure.

The reasons.

And understand the benefits that we may count on the insurance that makes it work.

  • Premiums
  • Deductible
  • Co-insurance
  • Out-of-pocket maximum
  • In-network
  • Out-of-network
  • Pre-existing condition
  • Co-payment
  • Waiting period
  • Enrollment/open period


You pay the amount monthly or yearly (as decided at the time of subscription) to your insurance company to keep it active. 

And that is the one vital element of the 


This is the term used for paying the amount to must pay before your coverage initiates.

Normally, it is set at the rounded amount such as US$ 500.00 or US$ 1,000.00 that you must pay per medical assistance and if you are billed US$ 2,500.00 and your deductible is set at US$ 1,000.00, the rest of the US$ 1,500.00 will be paid by your insurer.


It is the part of the amount that one owes to the medical provider once the deductible has been paid.

If your co-insurers of the plan is set at 20 % and you are billed for US$ 200.00, that means you are to pay US$ 40.00 in co-insurance.

Out-of-pocket maximum

Anything that you pay in the name of deductibles and co-insurance charges within a year before your insurance company starts to pay off all of the covered expenses, is called out-of-pocket maximum.


Got in-network coverage within your policy. With in-network, the physicians and medical that attend the patient services which cost so-less and one of the cheapest options for policyholders. The pool of physicians and the medical establishments that have talked out their budget and are up with their lowered rates.


Those physicians and the medical establishments that are not covered in your insurance policy but still if the patient requires immediate assistance and the chance is there for the out-of-network availability, they would cost so much higher than the in-network ones.


With co-payment, you get to pay the full amount when you see a physician or specialist without waiting for the deductible to be paid out.

Waiting period

The employer-sponsored insurance plans where they would have to wait for a period of 90 days before the employees would be allowed to enroll in the insurance plans.

Enrollment/open period

This provides the window of time where you can apply for the health insurance of modifying the plan to include your spouse and the children.

When the enrollment window time is expired, the policyholders would not be able to seek modification in their plan until the next enrollment window does not open unless if you experience to qualify the life event such as marriage, birth of a child, divorce, change in the individual and household income, or the relocation of interstate residence.

Uncategorized Editor Fri, 05 Jul 2019 04:54:45 -0400