Archive for September, 2014

How to Clean Up Your Bad Credit.

Unsecured loans for bad credit are primarily designed to provide financial relief to individuals with a bad credit rating who may have been turned down by high street banks and other lending institutions. These sources of finance offer hope for people in this type of situation as funds may be granted without the borrower being subjected to a thorough credit check.

It is possible to obtain bad credit unsecured loans by fulfilling a few basic requirements in order to as certain that the borrower is eligible. The applicant must be at least 18 years of age and should be in receipt of regular income and have a bank account with a direct deposit facility. The debtor’s proof of income assists lenders in determining how much will be loaned to the applicant.

Bad credit loans generally have higher interest rates than other standard financial products. This is due to the fact that there is a higher risk of non-payment on the part of the borrower. Another factor that exacerbates the element of risk is the fact that these types of credit are unsecured. This means that the lender does not have any form of security so he cannot automatically seize the borrower’s goods in the event of non-payment. Because of the risks the amounts lent are also lower than with secure finance. If you are considering bad credit loans as a solution to your financial needs, it is a good idea to take the above factors into account and assess what is available to you. As lending institutions are now conveniently accessible online, it makes it easier to find those that offer the best deals and the lowest Annual Percentage Rate. This enables you to compare quotes to find the best product to suit your circumstances.

In addition to this, you may find that some lending institutions will offer you bad credit loans with no fees. This will work further to your advantage as it means that you won’t have to pay any additional charges such as upfront fees, service charges and processing fees. So the only sums you will repay are the amount borrowed plus interest. Repayments for these types of products are usually made monthly for a period of up to seven years. The interest rate and the monthly payment can be fixed for the entire period until the whole amount borrowed is repaid in full. This makes it easier for you to budget as you know exactly how much you will need to set aside each month.

It is important to note that if you are unable to make the repayments on time then you should contact the lender to see if you can come to some arrangement. If you repeatedly fail to meet the payments the lender has the right to take action against you, which could involve a collection agency or legal enforcement. As this could cause further damage to your credit rating it is important to reach an agreement with your lender as early as possible.

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Housing And Land Valuations: What To Expect.

Knowing the value of your housing or land is always a good thing. It will help you make so many more decisions and also help you to know what your estate is worth. If you are looking at selling either your land or home, then a valuation is also the best way to go for you. This means that you will never have to worry about getting less money that you deserve when it comes to your home, and you will also never have to worry about paying more than what a property is worth.

What to expect during a home valuation.

During a home valuation, there will be certain factors looked at, that will enable your valuer to determine how much your property is worth or how much you should get for it. When the valuers visit your property, they will measure it, and make notes about the details of it, such as the structure, any faults in the structure, the rooms, the layout of the house, the presentation and the fixtures and fittings. After this, any improvements made to the house will be looked at. If you have made recent improvements to the house that make it better, then you will be able to sell your home for a lot more than if you had only made certain improvements to it that did not enhance the functionality of the house. The age of you home will also get judged, as this is a big factor when it comes to pricing. Then the house will be compared with others of its type, meaning that an overall aggregate of its value will be reached.

What to expect from a land valuation.

When you own a piece of land, there are a lot of other factors that come into play, namely whether or not the land is for commercial, farming or residential use, and where it is zoned. You cannot for instance, sell a piece of residential land at the cost of a piece of commercial land, if it is not in the correct zone. There are some zones that do not allow for the operation of commercial business. A piece of land that is available for farming will be valued in how arable it is and also what types of produce it can grow. The better the climate and the more arable the land, the more expensive it will be. In terms of commercial land, the better located it is to arterial routes and ports, the more expensive it will be to buy.


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Working Capital Loans introduction.

Working capital loans are short-term loans that are used to finance daily business operations. While these loans are not intended for acquisition of long-term assets or investments, they can ease the handling of day to day expenses. Routine operational costs of a business may vary across businesses but in general, they are categorized into fixed and variable costs.

Fixed costs include expenses such as rent or employee wages while utilities (electricity, water, production costs etc.) are covered under variable costs. As you increase awareness about your product or service, you also require working capital for advertising and marketing campaigns. You may also use them towards inventory purchase.

Why Working Capital Matters.

With rising inflation rates and an unfriendly economy, many businesses are unable to generate the revenue required to fund their daily operations. As a result, business owners are often stressed out over stretching their funds to cover their business operations while funding other aspects of their business.

A working capital loan can help tide you over until your business gains a firm foothold and you are able to meet your day to day operational expenses. This can give you some much-needed breathing space during which you are able to continue business operations despite an inability to cover related operational expenses.

A significant cash infusion can make a huge difference to business performance. Gaining access to adequate capital can help you accept new orders that require increased production capacity or power up your marketing campaign to increase sales.

When Do You Need a Working Capital Loan.

You could require a working capital loan under different circumstances. These include starting a new business, during expansion or for restructuring your current business. Seasonal businesses also need funding to help them stay afloat during lean seasons.

Most lending institutions will require your company’s credit history, cash flow details and projected revenues to approve your loan application. Loan approvals can take as long as 2 to 3 months.

Types of Working Capital Loans Available.

You can gain access to different types of loans, depending on your profitability levels and credit history.

Debt Financing.

This is a great way of gaining access to working capital for those businesses that have run into debt and require funds for daily operations. However, you might want to be aware that debt financing institutions often have stringent criteria for loan approval and the process tends to be long-drawn and complicated.

Equity Financing.

You can also generate revenue by selling shares in your company to interested investors. Some businesses also offer a percentage of ownership to potential investors and use the cash infusion to fund their business operations.

While this is a good way of generating revenue, you are forced to share ownership (and profits) with other investors.

Special Government Subsidies.

Certain businesses enjoy the patronage of government subsidies that offer them loans at attractive rates. Businesses that are perceived as good for the country’s economy get preference for approval. For example, export businesses can often get approved for government subsidies.

Repayment Methods.

Working capital loans can be typically repaid in one of two ways. One is by offering a small percentage of sales towards repayment. This percentage/amount is decided at the time of application between the lending institution and the applicant.

Another way of paying off the loan is to pay a small amount on a daily basis from Monday to Friday. This method of repayment helps you build up a respectable credit history and reduces stress levels.


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Useful Bankruptcy Advice.

Deciding on bankruptcy isn’t the easiest decision. Many people see this option as a failure, but in reality it is a solution to help you get out of debt and enjoy a fresh start.

There are a number of different debt relief options available from consolidation loans to this option, which is why it’s important to do your research, determine what is the right choice for you and speak to a professional financial consultant to get the information and advice you need before making such a big decision, which will affect both you and your family.

There are many advantages and disadvantages to choosing bankruptcy to write off your debt. Understanding these advantages and disadvantages will help you make the right decision.

Looking at the advantages, you get a fresh start within twelve months. This type of option stays in place for around one year, after which you start your life anew, completely debt free.

Another advantage is that any unsecured debt is usually written off, which means that your debt is taken care of, stress is reduced and hounding calls from creditors comes to a stop.

There are thousands of people around the world who fear a knock on the door or when the phone rings because they owe so much money, this leaves them with serious insomnia, which affects every aspect of their lives. In some cases bankruptcy is the only solution to help them get back on track financially and improve their health.

Once you choose this option, you will want to find a financial advisor that can assist you every step of the way. The advantage to this is that you know all the forms are completed accurately and that the chances of your case being approved is increased.

This can only be approved through the High Court and is a detailed process consisting of petitions, statements and affidavits to prove your case. Once your case is approved, your assets will be used to pay off outstanding debts, your creditors leave you alone and after a year, you can start a new life.

During the year you cannot apply for credit, though you can open a bank account. You have to disclose to financial institutions that you are bankrupt and let them make the decision from there.

As mentioned, this type of solution comes with disadvantages, which you must be aware of. First and foremost please be aware that your assets can be used to pay off debts. This is especially true if you have used your home as collateral. Though you will be able to retain your appliances and possibly your vehicle, in some cases.

There are implications when it comes to your job. Depending on your position within the company and the industry in which you work, this will determine whether you keep your job or not. Company directors are not able to work while they are going through this process. Be aware of this and ensure you find out how this will impact your job for the next year.

There is a fee for choosing this option which makes up the court fees, ensure you have this money available to pay for the service and help yourself improve your health, sleep better and get the hounding creditors off your back.

If you are self-employed, there is the risk that you will have to close your business. This is something you may wish to discuss with your advisor to ensure you are completely aware of what will happen if you choose bankruptcy as your choice going forward.

There are a number of websites where you can get sound bankruptcy advice, enabling you to make the best decision that will help you and your family moving forward.


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