Tuesday, October 02, 2007

Advance Payday Loans

Advance payday loans can be a life saver if you are really broke and need some money before payday, but be warned because their rates can be outrageous. They can sometimes charge up to 15% of what they loan to you to finance your advance cash loans, or even more. The people who use these things are all or almost all really poor people just a little behind on a payment of some kind – perhaps rent or something like that. They get the advance payday loans because they are out of options. They are living paycheck to paycheck and hand to mouth and are a few days behind so they are desperate to do something, to do anything to make ends meet.

Sometimes advance payday loans are not used just by legitimate people who are having trouble making ends meet, but by the really desperate like junkies or addicts of various kinds. They can be so upset about not getting their fix that they will waste money they don't even have yet and get farther and farther behind, because they are desperate to get their fix. This is very sad, because these people already have such incredible problems without loosing 15% or more of their income to a loan shark. Many is the story of someone finally finished off for good by advance payday loans.

I had a friend in college like that once. He was brilliant – a student of both Physics and English, and one of the most creative, innovative, and unconventional thinkers I have ever met to this very day. He got an advanced cash payday loan because, well, he was looking to party, and figured he could make it up the next month by living lean, eating Ramen Noodles and ketchup sandwiches. HE was young, he figured, he could eat healthy when he was older. But the next month he was still behind, and the next too, and he kept having to get advance payday loans to cover the debt he already had. Besides this, he was developing an addiction at the time, and the stress of his finances was only making it worse. Fortunately, he had a supportive family who was able to get him into a rehab program, and help straighten out his financial dire straights, but it all just goes to show you that it's a bad idea to spend money that you don't have. advance payday loans may look like a good idea, but believe me, they are not.

Sunday, September 30, 2007

Build Trust And Reliability- Face Your Creditors

Build Trust And Reliability- Face Your Creditors

The last thing that creditors and money- lenders appreciate is being forced under the circumstances to deal with an ungrateful debtor. Agreed, you have incurred heavy losses in your business and that these are surely not one of your sunny days. So how can you emerge from this crisis without tarnishing your reputation. Well, avoiding your creditors like plague or giving them a cold shoulder treatment is certainly not going to earn you some extra brownie points. So what are the options that you are left with if you honestly want to repay those bad and doubtful debts?

The first lesson is to take the bull by its horns. This would mean that instead of acting indifferently with your creditors make them aware of your problems so that some of the more considerate creditors will be willing to extend the time for repayment. Instead of avoiding phone calls, make sure to reassure the money lenders that you are not a fraud who has coolly digested all their money and that if they are patient enough to wait you will make a conscious effort to pay them back their dues. This approach might help in resolving the issues more amicably without giving rise to any nasty situations.

If the creditor is a head- strong person who will not allow you a second more then you might have to let your other debts wait and first deal with this creditor.

You can approach your bank from which you carry out your regular business transactions and ask them to lend you money. This wont be too difficult specially if your past records with this bank have been favorable enough to portray you as a good paymaster. Besides you can take help from other banks as well.

If you cannot afford to pay the rent of your existing house then consider shifting to a smaller one whose rent would be affordable. This way you might be able to save some few extra bucks.

You can make use of those possessions that you might not need immediately such as a landed property, or any other valuables that can be mortgaged against a loan.

Last but not the least you can declare insolvency or bankruptcy. This might not be a very good idea because though it may provide you with instant relief from your current debts, yet in the process of doing so you will be destroying your company’s as well as your own credibility for the next ten years.

Saturday, September 29, 2007

Zero Apr Credit Cards

Credit cards are certainly one of the greatest weaknesses for human beings. Now, I can't really speak on behalf of everyone else, but Americans are seriously guilty when it comes to charging it. I worked in customer service for 8 years and saw people day-in and day-out, abusing those evil credit cards. I call them evil for obvious reasons. They tend to shaft you with the interest rates at some point or another. Of course if you can find 0 apr credit cards, then that's ideal. You want no interest rate on balance transfers and purchases. Ha, if you can actually find such a credit card, then I commend you.

If you're not yet savvy when it comes to credit cards and how they work, let me fill you in. The perfect plastic would be 0 apr credit cards. Now, these are not so easy to come by. Typically what credit card companies do is pitch a 0 APR on balance transfers. This generally only lasts for a year. Then it's hard to say how high the annual percentage rate will go. This is their way of catching your interest. Maybe you have student loan debt of ten grand, which has a horrible percentage rate. Well, you can transfer the balance onto your new credit card and suddenly have a 0 percentage rate. That's great! There are no two ways about it. It would even be better if you could pay the debt off before the year of 0 APR runs out. Anyway, with most 0 apr credit cards it doesn't concern purchases. I have yet to see a credit card that offers 0 APR for a year on purchases. They want to make money off the interest. This is why they don't offer it with purchases. They know, however, that they will keep you if you transfer a balance onto their card. It's hardly ever over after one measly year. Then you will be forking out the interest each month. This is simply the way of the credit card.

Maybe you're searching for 0 apr credit cards in order to do a balance transfer. Hey, you should absolutely delve into cyberspace and do a Google search. I'm sure you will find several 0 apr credit cards currently available. Just remember that these 0 apr credit cards most likely regard balance transfers. It's doubtful that the 0 APR concerns purchases. So basically don't charge them unless you have to.