Category Archives: Business

How do Payday Loans Work?

payday loans

Payday loans are basically short term loans which can be very useful during a financial emergency. The term was coined because the loan is tied up with the borrower’s source of income. This type of loan may appear to be very convenient for some people who are strapped for cash but acquiring this kind of loan can sometimes be tricky and stressful. Therefore, it is important for borrowers to do their research first so they will not end up in a lot of debt.

Payday loans are called short term loans since the borrower has to pay the loan amount within 2 weeks or so. The loan amount is usually modest since lenders do not typically release large sums of money for this kind of loan. The borrower must first issue a check for the loan amount plus fees. If the borrower is not able to pay the loan amount on the agreed schedule, then they can ask the lender for a roll over so that the loan will be extended. This is probably one of the worst things that can happen to a borrower because the fees will keep on building up. Fortunately, some states have already limited or regulated the number of roll overs for the borrowers.

 

Are payday loans worth the risks?

Payday loans may save your life especially during desperate times; but in reality, this type of loan can be ridiculously expensive. Borrowers must pay an APR or annual percentage rate that could be a lot bigger considering that the loan period usually lasts for 2 weeks or so. Another major pitfall of a payday loan is the cost that it entails. The fees on top of the loan amount are usually high plus interest rates.

However, payday loans can still work for anyone as a short time solution. As a borrower, you just have to always keep in mind the due date of the loan and it will also help if you deal only with legitimate and trusted lenders.

Payday loans are mostly offered by private lenders but because of its popularity; banks are now offering this kind of loan provided that the borrower will be able to comply with the requirements. Loaning from a bank is a better alternative from traditional bank loans. However, the process and pitfalls of a payday loan from a bank is basically the same as from a private lender or financial institution.

Now despite issues, if you still think that getting a payday loan will solve your problems, then here are a few things that you need to carefully consider:

  1. Do your own research online or by asking referrals from your friends or colleagues. Ensure that you take the time to read about lenders and what they have to offer.
  2. Always read the fine print. Better yet, look for a lender that offers deducted fees or even minimal interest rates.
  3. Be mindful of your due date. Make sure that there is enough money on your checking account so that the payment will be processed.

Reblog: Typical Payday Loan Process

By Chadwick Davis

WHAT CAN I EXPECT FROM THE TYPICAL ONLINE PAYDAY LOAN PROCESS?

The world of online payday loans can be an intimidating and controversial one for consumers. With all of the negative hype and confusing misconceptions circulating, consumers often don’t know whether an online payday loan is the right financial alternative for them and their situation.

The truth is that an online payday loan might just be the answer you’re looking for! At the very least, the option of a payday loan is always something worth looking into, especially if you find yourself in need of immediate financial relief.

This article is intended to clear up some of the confusion and illustrate the typical payday loan process. Obviously, different companies will have different ways of conducting business.
In no way does this article represent the full and exact process for each and every payday loan company that you find online. It is only intended as a general guide for the process and what you can expect from a typical, respectable payday loan company.

Always fully research any company you plan to do business with prior to completing any transactions.

WHERE DO I GO?

First you will need to access the payday loan website. Typically, there are two kinds of payday loan sites on the internet.

1. A Payday Loan Lead Site.

o Normally a customer will search for a payday loan site and come across a “Lead Site” thinking it is a payday loan company. “Lead sites” are hosted by companies whose main goal is to gather information from several potential customers, and then sell that information to companies that will further review it and potentially lend you the funds you are requesting. Lead sites are normally identified because they do not have a member log-in section on their homepage. Also look for a disclaimer somewhere on the website which states that their main purpose is to generate name leads for financial loan companies.

2. A Genuine Payday Loan Company Website

o You can usually recognize genuine online payday loan sites by searching for a member’s log-in area. These sites are direct lenders for customers who apply for a loan via the company’s website. These companies are responsible for processing the applications in-house and depositing the funds into customer accounts once the loan is approved.

GENERAL REQUIREMENTS:

Customers should always research any company they are planning to do business with. After identifying the company you would like to use you will likely need to fill out a loan application. Online payday loan companies will have their own general pre-designated requirements in place that must be met in order to qualify for a loan. Examples of this may include the following:

o Active Direct Deposit
o An established checking and/or savings account that allows unlimited ACH deposits and withdrawals (Established for three months or more as a general rule)
o A minimum monthly take-home pay amount (Generally around $1000)
o An established employment history of 3 months or more
o US citizenship
o Applicant age of 18 years or older

Online payday loan companies tend to be very specific and forthright about all of the requirements in the loan application. Be sure to fully read and understand all of the terms prior to signing the agreement.

After you have fully and truthfully answered all of the questions on the application a determination will be made regarding the approval or denial for the loan. Different companies rely on different systems when researching applicants. Reasons for denial may include the following:

o Active “write-offs” or a bad payment history with other payday loan companies
o Non matching information on the application (i.e. – Social security number does not match name given on application)
o Lying on an application
o Applicants, spouses of applicants, or dependants of applicants who are on current active duty with any branch of the military (Federal law prohibits these individuals from doing business with payday loan organizations)
o Excessive loan inquiries with multiple payday loan organizations
o Recent poor checking or savings account history
o Excessive amount of current payday loans still outstanding
o False reference or employment contact information

TYPICAL FEES:

Once the loan is approved, the funds will be scheduled to transfer into the customer’s account. The customer will be notified of the date in which the loan will need to be paid in full. In the event that the customer is unable to pay off the payday loan debt on the agreed upon date, “extensions” can be requested. These extensions usually have a fee associated with them. The fee and a full explanation of the extension process should be explained in the original loan agreement. The purpose of an extension is to extend the amount of time before the full loan payment is due again. Customers are generally allotted a specific number of extensions that can be used during the life of a loan. Once this number is reached no further extensions can be requested and the full loan payment amount will be due.

Another fee which may occur, and should also be explained in the original loan agreement, is what is normally referred to as an “NSF Fee”. This fee is charged when attempts to retrieve scheduled payments are made and the customer’s bank rejects the attempted withdrawal due to Non-Sufficient Funds. Typical NSF Fees are around $20.

Note: Customers living in specific states may or may not be able to utilize the extension process, depending on state laws that govern acceptable payday loan processes. Other related state laws may exist and dictate different aspects of the payday loan service. Customers should always research their specific state payday loan laws and regulations before entering into an agreement online.

THE BOTTOM LINE

Online Payday Loans don’t have to be an intimidating or confusing subject. Responsible customers often find them to be the perfect solution for a tough financial situation. The ball is often in the customer’s court when utilizing this option since all of the terms, fees, and guidelines of the payday loan process are readily available prior to accepting any agreement. The key to any successful payday loan transaction is the customer’s grasp in understanding the process and anticipating the way it will play out.

In addition, when doing business with an online payday loan company, customers should also look for an in-house Customer Service Department line. This service can act as a life-line for customers who become confused about any aspect of the process or who may have general questions.

Article Source: http://EzineArticles.com/?Typical-Payday-Loan-Process&id=1312694

5 Ways on How Not to Lose More Money with Title Loans

The moment you receive loan proceeds, the countdown to lose more money with title loans start.  With very high interest rate, that itself is the first step to lose money and if you do not know ways to avoid losing more money, then you will definitely sink further into the debt trap.  The lure of this kind of loan is very tempting as it is easy to apply and have the loan approved as you get the money in a few days or within the “same day” for those companies with such policy. There are even loan companies that claim you can have your loan approved within a few hours.  However, there are ways which you can avoid losing more money.

  1. Use a title loan calculator provided in the website. This way, you will have an idea how much money you can apply for and avoid seeking out an additional loan from another company because the money is not enough.  When you discover that the loan assessment is very low, you can always find another title loan company that can offer better loan computation and approve a loan that fits your requirement.
  2. Ensure that you will not lose your car.  One of the most unfortunate consequences if you cannot repay the loan is losing your car.  Find ways to make sure you can repay the loan such as look for a low interest car title loan or have it pawned which can allow a longer repayment period instead.  Or better yet, consider taking out a loan from credit unions or your employer and deduct loan payments from your commissions or incentives if you have any.
  3. Selling other valuable properties to repay the loan is another practical strategy to avoid losing more money.  You might have some things that are valuable to other people and just take up space in the attic, so why not convert these things into cash? Have a garage sale to find out which of these things are valuable to other people.
  4. Do not delay loan repayments. In some cases, the borrower has already allotted money for repayment but due to unforeseen circumstance that they have no control over, the borrower missed on payment and end up paying additional interests and penalty.  It is also wise to pay your loans when you have the money instead of waiting for the due date.
  5. Pay ahead of schedule, when you do so, you gain rebates or additional discounts because you pay ahead of time.  However, you need to check the terms and conditions and find out if the loan company offer this kind of benefit for borrowers.  Yet whether or not this option is offered, it is still better to pay ahead than risk losing more money by accidentally forgetting the due date.

Indeed, you do not need to lose more money when you can actually prevent it.  Title loans are helpful if you know how to avoid losing money from them.

For title loans in Memphis, TN, we suggest Quik Lend Cash.

What Not to Do with Regards to Auto Title Loans

Critics of auto title loans argue that this kind of loan is predatory.  It attacks on the weakness of borrowers, which is lack of money at the moment, and there are emergencies to pay and overdue bills to take care of.  The promise of convenience made some borrowers blinded with the negative side of this type of loan such as the repayment period is quite too short (at 30 days on the average), making it sometimes impossible for borrowers to pay it on time.  In fact, studies have shown that on the average, the loan is rolled over many times before it is repaid in full or the car is repossessed. Given these situations, it is important that borrowers should be aware of what not to do when taking out this kind of loan.

Do not borrow this kind of loan if the car is very important

Just think of the inconvenience you cause your family and of course the hassle that it will impact with regards to your professional life.  Do not compromise your personal and professional life just because you need extra money to solve short term problems.  How do you think your children will react if you can no longer fetch and drive them to school?  How do you think can you juggle your time riding a public transport system and meeting quite a number of clients during the day? Scary, isn’t it?

Avoid seeing a financial counselor

When you have already taken out a loan and see that you indeed cannot repay the loan on time, it is wise to see a financial adviser and help you deal with this problem.  He or she can negotiate loan moratorium and at the same time give you pointers on how to avoid this expensive loan in the future.

Not taking it seriously

Financial counselors are in the same wavelength telling everyone that borrowers are easily lured and trap with the idea of getting that extra cash from this kind of loan and did not fully analyze if they really needed it then.  Very often, their lack of understanding towards different methods on how to deal with overdue accounts and dated loans is one of the reasons why they succumb to instant loans instantly.  Again, financial counselors can help you negotiate with your creditors as they will remind your lenders of your rights as borrowers when you tend to struggle with your payments.

Not dealing with it face to face

When you are convinced that it will take time for you to repay the loan, be man enough to admit it and inform your creditors.  You will never know their reactions if you will not tell them so.  By telling them, you might be in for a surprise and they might offer you suspension of interests or give you more time to settle it without repossession.

Clearly, auto title loans are obligations that you have to deal with personally.  It is not something that you can ignore and let time run its course and wait for solutions to pop instantly and the loans will vanish.

For auto title loans online and in San Diego, CA, see USA Checks Cashed. Other services include payday loans, check cashing, and more.

What Corporate Housing Offers

Corporate housing is one idea that made company accountants and business owners clap their hands due to so much elation.  You see, this kind of accommodation has solved many issues relevant to accommodating their staffs, managers, and executives.  Everyone knows that people in the company move around from one location to another to attend meetings and seminars, on the job training, or due to promotion.  Most often, temporary residences are one big problem for companies and business owners.  Here are what corporate housing offers:

Stress Free Relocation

Other than the fact that it saves companies from huge expenses from housing their employees in hotels, this kind of accommodation saves employees from temporary stress of finding a perfect place for him or her while adjusting to new territories.  As such, the new manager or employee can attend to a job orientation and succeeding professional activities as well because the problem of temporary accommodation is easily solved.

Customization at its Best

A lot of people do not realize that this kind of temporary residence can be customized according to preferences.  How is this so?  First, you have to relay what your preferences are in terms of temporary housing such as number of bedrooms, amenities you need like parking spaces, safe and secured location of the housing, and style.  Yes, you cannot undo what is already constructed but with a wide array of choices, you have one according to your specific liking.

Very Pocket Friendly

In most cases, the company will only shoulder accommodation so other living arrangements like laundry and food for example is for the employee or manager to deal with.  With temporary housing for corporate people, it is a very affordable convenience since you will not be paying for additional charges like service fee, value added tax, and other charges that you usually pay for in hotels like tips for example.  Most corporate shelters for executives are already equipped with kitchen and laundry area; thus, you can cook your preferred food and schedule your laundry activities without paying extra charges.

Best Locations Available

Temporary housing for company employees such as serviced apartments for that matter are usually situated in central business districts; thus, managers and employees will not have difficult time trying to reach many important destinations related to their professional and even personal aspects of their lives.   In fact, some people were even thankful that their temporary housing is just a walking distance from the office and it gives them traffic free day always; thus, they are in a good mood always when they report to their office.

It Feels Like Home

Today, companies and business owners are so sensitive to their employees’ needs so they will surely give the best company housing they can provide to their people.  With that, their employees and executives will not have their mind wander and miss their homes.  While they are accommodated temporarily in serviced apartments, this kind of accommodation do not have the cold atmosphere hotels are known about; thus, you have a feeling that you never left home.

Indeed, corporate housing is just more than a convenience.  It is indeed a winning solution for the company and its employees when you talk about temporary residences.

For corporate housing Toronto, see the Rosemont Residences at http://www.rosemontresidences.com.

4 Benefits of Short Term Rental Temporary Housing

Hotels, motels, and inns are not the only accommodation options for family vacations.  There are many other short term rental vacation houses and apartments you can rent when you travel anywhere around the world for an extended period of time or when you go on a vacation with your family or friends.  The term is easy to understand as it is all about fixed rate for the whole duration of your stay in the city, say for example, weeks or a month.  There are several advantages that you can get using this type of accommodation and here are four of them:

Cost

It is more expensive to pay daily room rate instead of renting one full month on temporary houses.  And if you are lucky, you can find tenants who are open to negotiations. Using logic and charm, they might agree to lower the rentals on the temporary house or villa you are interested in.  Indeed, rental is negotiable.

Comfort

One of the negative things you can say about hotels is the cold and impersonal ambience that you feel inside.  With temporary vacation houses, apartments, or villas, the feeling that you are living inside your home is always there and children will not have a hard time adjusting to the new environment as you are living in a house, not a just a hotel room with ample space and one window.  Homesickness is definitely out of place when you rent a temporary apartment, villa, or house.

Variety

You can choose any type of temporary house that you like; beach front, beside a lake, with camping trails, or just near the city. With hotels on the other hand, front desk will give you rooms based on availability and sometimes the ones with the best views are always taken.  Thus, if you have other specifications like color, style, and architecture, feel free to browse the Internet and look for vacant temporary housing where you are planning to stay. And there is no need to bring everything inside your house when you book one as there are furnished apartments or houses that you can rent on a short term basis.

Straight Forward Transactions

In some cases, you do not need real estate agents or lawyers to book for a temporary house or vacation villa.  In fact, there are those who are able to rent one based on the recommendations of their friends.  Sometimes, booking with agents or representatives involve lots of hassles and takes time for both parties to agree since these people are only given certain blanket of authority. So if you have requests that are not included in their authority, these people will beg for time and ask their client who is the owner of the house or villa.

If you are one of those people who are not fond of hotel living and prefer to maintain the personal touch of your home, short term rental temporary housing is definitely recommended.  Why not start enumerating your requirements for a start so that you will have a guide when you finally search for one as your family will go on vacation or your company on a business trip anytime soon?

For short term rental Toronto in Canada, see the wide selection of furnished and unfurnished luxury apartments of Rosemont Residences. See http://www.rosemontresidences.com.

Everything You Should Know about Having a Website for Business

Every business needs a website. Even individuals have their very own website or blog. A well-built website that incorporates web design can do wonders for a local business anywhere around the world. You can even run your business from home without requiring an actual brick and mortar space.

In today’s world, everything is done through technology and the Internet so there is a need for a website to give your business an edge over your competition. Internet has become the global market with huge potential to grow even more. There are millions surfing the web every day. Internet has made yellow pages, business directories, and other older advertisement medium outdated.  Also, owning a website is economical, convenient, and highly effective for marketing and promoting a business. The whole process of doing business over the web is known as e-commerce. E-commerce fully functions online with online buying and selling, online registration, online payment system, etc.

What Comprises Websites

Going back to websites, all sites are created using markup language like HTML, XHTML, XML, CSS or Cascading Style Sheets, and programming languages like JSP, PHP, ASP etc. Formatting a text using font, font size, font color, inserting images, sound and videos, background image and/or color, table etc. are all part of designing a webpage.

A website usually constitutes of a homepage, contact us page, and so on. The homepage or index is the first page that is shown when visiting a website. The content of a website is as important as the actual designing of a page. A killer combination of the two helps bring in traffic to a website. Careful planning is necessary however. It is important not to overdo it and put everything in one place like large files as these increase the loading time of a webpage and actually slows it down. It is better to distribute files into different pages and sections of the site.

Two Types of Websites

There are two types of websites – static website and dynamic website. A static website is a simple website that doesn’t need programming and its content doesn’t change. It is written using HTML and CSS codes. A static website will have the same content, images and layout. A dynamic website on the other hand, is user-friendly with its content changing in real time. The content of a dynamic web page or site interacts with the user and may change automatically without having to manually intervene. A static website costs cheaper than a dynamic one.

Cross Browser Compatibility

Aside from all details mentioned, there’s one last thing to check before the website is up and running on a web server. It is necessary to ensure that the website is cross browser compatible. This can be done by running the website on different web browsers like Google Chrome, Mozilla Firefox, Internet Explorer, etc. and making necessary adjustments and coding if needed.

SEO and Web Marketing

Web design can also benefit from SEO or search engine optimization. SEO helps in improving a website’s rank in search engines like Google, Bing, Yahoo etc. SEO and web marketing is important in generating traffic back to a site.

If you’re looking for professional services for both web design and SEO, Globalgraphics UK, a web designer Birmingham company which provides a range of services from redesigning a site, SEO, graphic designing, branding, paid web marketing, ecommerce, and content management. For more details, please visit http://www.globalgraphics.co.uk.