Periencing Cash Flow Problems? Invoice Discounting Could Be The Answer

By Peter Rufus

More and more modern businesses are proving the importance of invoice discounting. Whether these businesses are small start-ups or rapidly expanding, capital is the heart of every business and cash flow its lifeline.

As a company providing products or services to other businesses on a credit basis, you may already be experiencing cash flow problems. Even if you have 30 day terms, you might find your clients are working to varying payment terms of 60 days or even 90 days, it's easy for your payments to become tied up in the sales ledger. This can make affording your own expenditures difficult. Borrowing from the bank to cover your finances may seem like the best option, but it's often the most heavily administrated and time consuming, let alone the least cost-effective.

In these instances, a specialist finance broker becomes essential. A good broker can help identify the problems and tailor solutions to your needs with the right finance house that best suits your style of business. One solution they can guide you through is invoice discounting.

With an invoice discounting model tailored to your specific needs, a profitable business can draw money against its invoices immediately they are issues (as well as in the first instance get a payment from outstanding invoices. A discounter assesses what percentage of the outstanding sales ledger can be advanced, depending on your business up to 90%. Each month you will pay back more or less depending on the activity of your cash flow, with an interest rate based on the net amount of the advance.

All that is required of you is the continued administration of your sales ledger and debt collecting. This can prove beneficial when monitoring how much you can repay each month. Invoice discounting is an alternative, cost effective way of improving cash flow that's flexible enough to support your fluctuating finances on a monthly basis.

Another benefit of invoice discounting is the support it provides you while working with clients of varying payment terms. Invoice discounting allows you to build strong relationships with your client base without compromising on your monthly financing. Your customers don't even need to know such a system is in place.

And as well as improving customer relations, invoice discounting can significantly increase your available funds, improving your spending power. This can be a huge advantage when it comes to negotiations and prompt payments with suppliers - essential for small businesses looking to grow.

So what are the costs involved in invoice discounting? And how do they compare to other forms of borrowing?

Alongside an administration fee based on your turnover and a monthly charge for your discounter, you'll need to pay back interest on the advance. This interest rate is often comparable with that of an overdraft, ranging from 1.5 per cent over base rate to 3 per cent over base rate and calculated on a daily basis. And, with a number of independent financers and banks both offering invoice discounting, the rates are very competitive.

Unlike an overdraft, which may need to be renegotiated or give your business a poor credit rating, invoice discounting can help keep your business in credit. With the help of the right finance broker, sourcing the best discounter for your business is even more straightforward.

If you have an annual sales turnover averaging £200,000 or more and a minimum net worth of £25,000, with effective credit history and profitability in your business, invoice discounting could be the best step to solving your cash flow problems.

To find out more about invoice discounting for your business, contact Martingales for a free assessment. Martingales specialize in taking the strain out of corporate cash flow with bespoke finance solutions and invoice discounting.
For more information please contact:
Martingales Business Finance
T: +44 (0)1202 591602
E: enquiries@martingales.org
Or visit our website at www.martingales.org.uk
Martingales
The Park House
75 Parkstone Road
Poole
BH15 2NZ
Peter Rufus
Commercial Director
Martingales

Article Source: http://EzineArticles.com/?expert=Peter_Rufus

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Not Quite Western Union

By Daniel Kretschmer

If you want to send money fast Western Union is the way to go. Quick cash, emergency funds, expedient transfer, in a heartbeat. Nowadays I can move monies from my savings to my checking with the click of a mouse whenever I so desire. My paycheck gets direct deposited, my dealership credit company automatically withdraws my monthly payment, I drive this car around and buy gas with my credit card on the way to buy groceries in the same fashion. All this without ever seeing a cold hard penny. Theoretically there are some four trillion dollars in the world today, much of which has never ever been printed.

No money down, no payments till June, 0% APR for the first six months. Good credit, bad credit, no credit, your job is your credit. Everything is gearing consumers to finance. Swipe a card: "set it and forget it!" Put it on charge and you won't have to worry about it, just a little bit at a time once a month for an extended period for a small fee. In these times of woe, you can be safely assured little Johnny and Mary will have a visit from Santa this year, for 15% APR. What a world!

Well for good or bad it wasn't always like this. First take a look at our dear old founding fathers in our dear old city of Brotherly Love, Philadelphia. This is when it really started to change. This city was the hub of everything political, economical, and social at one point, with dear old Benny Franklin spearheading the way to a better future by making such things possible as leasing a commercial property or buying fire insurance. Yes the days where you had to be upper crust elitists to run a business were over. The economy was making a turn for the better.

Whoa! Time out! [tires screeching]. Lets go back even further. How did commerce work before all this change? Well I'm not going to get into all the very exciting details about the history of economics (hey crack open a book), But I will tell you money was definitely different. Think 1492. Columbus found the new world full of glittering prizes beyond the sovereignty's imagination. Greed was as much a virtue back then as it is now and the relentless quest to obtain this wealth began. The Caribbean proved to be chock full of gold and coins, and around the 16th and 17th centuries the Spanish crown charged mariners to convoy this wealth back to the homeland via a certain route. Thus we have the Spanish Main. Treasure Galleons by the gross were sent on a perilous year long journey braving storms, disease, mutiny, pirates, and the ever so unforgiving sea to bring this cash back. Not quite money in a flash, huh?

Many a sea-faring adventurer met his demise on this treasure quest. It's comforting to know that with all the changes in the world over the centuries that human nature is the same wonderful concept we all know and love, always has been, and always will. People will do anything for money and gladly lay down their lives in the quest for it. Think of how many storms these convoys confronted. I know of one story of the Silver Shoals somewhere near the Philippines where sixteen Spanish galleons went down in a storm. Sixteen. All those men, and all that gold. And you know what the amazing part of it is? They're still there. Every last one of them. A time capsule just waiting on its nautical graveyard.

I've heard of a couple different estimates but they go so far as to say that there is approximately one trillion dollars worth of gold, silver, and valuables still on the ocean floor. Amazing. I mean, this is not just a kid's bedtime story of pirates and gold and sunken treasure, this is real shit. This really happened, and there are so many ships unaccounted for. Its not just the money, but the history that is so valuable. Think of these people at the bottom of the sea, think of how just a couple hundred years ago they dressed, they talked, their passions, their humanity. Think of what they tried to do, but fate wouldn't allow.

I would love to run an expedition to find one of these ships. There are legal ways to prove that a certain ship's sovereign nation "abandoned" it. If not for instance, the Spanish crown today may lay claim to a certain galleon on grounds that it is still in fact Spanish, and the gold was in fact headed for Spain. Salvers put a bad taste in people's mouths, especially historians and the such who obviously want this piece of "priceless" history preserved and not just plundered and ruined just for the treasure and sold off to the highest bidder. Many salvers surface old ships way too quickly causing the wood to oxidize and artifacts to spill over. To them helmets and spoons and stoves are worthless. History is just ruined. I don't think Cortez would be too happy. It's enough to make these captains of cash turn in their watery graves.

No I would do it right. I would spend months or years doing my homework. Finding which ships went missing and where. For example shores that have coins and artifacts wash up are a good clue. Finding these ships can and does happen. Of course money begets money, and with moths flying out of my wallet when I open it up, I would need to tap some kind of funds, or the curiosity of a trusting rich uncle. And with all this lottery hubbub when we talked about what to do with over 100 million dollars I said just this: sunken treasure is waiting for me. The others laughed and said they knew who the first to spend all his money would be. I said for one: life is short, be adventurous (I think this would be quite an adventure- searching for knowledge and lost pirate's gold!) and two: I'm only human and I wouldn't mind making more money. So when I turn my several millions into several billions I'll be laughing all the way to relax on the Caribbean Islands that made me so rich. But its not all about the money, it really isn't. Imagine being so close to all that history. To one man's sunken ill-fated history. It's kind of creepy.

Some say that within 20 years we will have the technology to find and surface all of the ocean floor's lost treasures. There will be no more adventure or mystery. I believe them.

I'd better get cracking...

Article Source: http://EzineArticles.com/?expert=Daniel_Kretschmer

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Best way to improve credit score

If you have ever had a loan denied it was probably humiliating, embarrassing, and a harsh reality check. So much for that bright red Mustang convertible you wanted. Or maybe it was for an old, beat-up, rusty sedan you thought you could afford to drive back and forth to work. Sadly, that new five bedroom, brick home with the sun porch is out of reach. Or was it your last hope for a deposit to rent a simple one bedroom apartment for you and your family. Some people know before they ever apply for a loan that they will be denied due to a poor credit rating. Others are completely surprised to find out their credit history is hurting. How does this happen?

Sometimes it's just a lack of discipline or good organizational skills. This leads to poor paying habits and late payments which can damage your credit. Sometimes it's temporary circumstances beyond your control such as a job layoff, divorce, illness, etc. You are forced to choose between putting food on the table and making a credit card payment. That's a tough one. Thankfully, there are ways to improve your credit rating with a little effort. The following five tips can help.

1. Often, a big part of your credit score depends on your debt to credit ratio. I'll give you an example. If you have a credit card with a $1000 limit and you carry a $900 balance this would make the percentage you owe to the percentage available 90%. On paper it would look like you were in a credit-tight position. There are three ways to improve this.

A)Apply for another card. Whatever the limit is becomes part of the calculation. If it is $1700 you now have a total limit of $2700. This brings your ratio down to 33% ($1000 original credit + $1700 additional credit divided by $900 balance=33%). That's a big difference. B)You can do the same thing by asking your current credit card company to raise your limit. C)Pay down your current balance. Make it a priority!

2.Always try to pay your bills on time. Chronic slow or late payments lead to denials or approvals with ridiculously high rates. If you just can't seem to remember when to pay bills try using a personal planning calendar, PDA, or numbered folder. I use a folder that has multiple dividers numbered 1-31 for each day of the month and additional dividers for each month. You can get these at office supply stores. File your bills in the divider where you will see them the week before they are due. Check the folder daily.

3.Get a copy of your credit report and contact the credit bureaus if you find errors. Ask to have them removed.

4.If you have a credit card for every store you have ever entered....cancel some! No one needs fifty retail credit cards. Retail cards are sometimes viewed less positively than bank cards so get rid of them first.

5.Piggyback on the good credit of a friend or relative. Have them add you to their account (but don't use it). Once you're on, ask the creditor to report this account to the credit bureaus. Be careful with this one. Don't abuse the goodwill of your friend or family member by using the account without asking first!

In our credit-driven society it's way too easy to bite off more than you can chew. Throw in a couple of life's little emergencies and you can quickly get into trouble. The tips here can be helpful, but I suggest you don't just use them for temporary gain. If you go to the trouble to improve your credit, go to the trouble to keep it good. Look at your habits and try to change them if necessary. I know this is a tough one that we all have trouble with, including me. Hope this helps.

About the Author

Bob Armstrong is the Owner of DebtPuzzle.com which shows you the Best way to improve credit score.

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Get Money On Your Car With Auto Title Loans

By Andrina James

You've seen some online auto title loans websites, but you're not sure what they are all about, or if are you qualify for such loans or not. Read on to find out more about car title loans.

No matter what kind your credit might be, companies nowadays are offering guaranteed car loan to prospective buyers. With no credit or bad credit, if you have a job you can buy a car with guaranteed car finance, keeping you on the move.

Auto title loans are loans that are supposed to be short term loans to get you through to your next payday. With this type of loan you give your car title to the lender. If you do not payback the loan on the predefined date then the lender takes away your car. These loans involve such high interest rates that you may never be able to pay them off and the longer you take to repay them the more you pay. You can end up paying more than your car was ever worth.

Auto title loans may be useful only in the rarest of situations. For instance if you know you're getting paid in the next 2-3 days but you must have cash immediately for some emergency. Car title loans are almost never a good idea, though you can of course utilize them at your own risk.

Your car may help you to build back your credit rating after bankruptcy. There are now many companies offering bankruptcy car loan, helping people with poor credit histories to build them back again. Since the lender is taking a bigger risk giving a loan to someone who has been bankrupt than someone who has a good credit history, bankruptcy auto loan financing will generally have higher interest rates and stricter rules around repayments. If you are looking for such loans then it is very important to shop around to make sure you are getting the best deal available.

Some Disadvantages Of Auto Title Loans

Auto title loans can destroy whatever credit you have left and also take away your car. These loans place a huge stress on an already tight financial situation. Actually the way out of financial trouble is not to borrow more money, but to cut down on expenses. If you find yourself in financial trouble, look to lower your expenses; don't put one of your most important assets at risk.

Need cash before next payday? Ask for auto title loans. Bankruptcy car loan and bankruptcy auto financing can help you improve your credit rating?

Article Source: http://EzineArticles.com/?expert=Andrina_James

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The Pro's And Con's Of Hire Purchase Schemes

by Fred Inance

Hire purchase schemes are everywhere these days. So much so you may have one and not even realize it as they are not always advertised as such. The obvious and original hire purchase schemes are traditionally associated with buying a car. However, these are seen with all types of home improvement suppliers such as conservatories, extensions, and driveways. You have probably seen advertisements for sofas 'buy now pay later' and not realized this is actually a hire purchase scheme that they are referring to. In short it is a scheme set up to finance cars, home improvements, household items, plastic surgery, - practically most things that you can think of. Advantages of Hire Purchase Schemes Hire purchase schemes often allows you to buy big-ticket items such as a car on credit.

A simple, easy to understand method of financing a specific item. You might find this useful if you can't borrow enough to fund your purchase through a bank loan or credit card to your credit rating or lenders criteria. You might find it easier to get credit from an HP company than from, say, a high street bank or credit card company as they sometimes hold the item as security against non payment of the finance. Disadvantages of Hire purchase

You must be aware that you don't own the item you have purchased until you have paid back all the money you owe. Pushy salesmen do not always make this clear. They also often hide hefty payment protection premiums in the cost as well as set up fees. Be clear on all in the credit agreement. Read all the terms and conditions. Also be aware that the HP Company can claim the goods back if you don't make your payments. If you have paid a third or more of the value of the goods, the HP Company would have to get a court order to get them back. You may still owe money on goods that have been taken back.

Hire purchase type finance may well be a more expensive way to borrow than a good value personal loan or credit card. Shop around for the best hire purchase deals. Some deals have smaller payments and a big payment at the end. This is often referred to as a balloon payment. Therefore do make sure you will be able to cover the final payment. You can back out of the deal and return the goods at any time, but you then have to pay enough to bring your total payments up to half the price of the goods. If the installments you've paid already amount to that, you only have to pay for any missed payments or damage to the goods. Look at other options first.

If you can borrow the money at a similar or cheaper cost through a bank loan or credit card, steer clear of HP. Often the cheapest way to finance big ticket items such as to purchase a car is to consider a secured loan.

About the Author

Fred Inance writes about Speedy Secured Loans and answers Secured Loan Questions at http://www.easyukloans.co.uk

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Using the Yield Add-In Functions

Excel provides five functions that let you make price calculations for securities such as bonds more easily: YIELD, YIELDDISC, ODDFYIELD, ODDLYIELD, and ODDLYIELD. (Excel's online help file supplies the actual formulas used for many of these yield functions.)

Some Background Info on the Yield Functions

As a group, the functions use a set of standard arguments:

The settlement date specifies the date the bond is settled, or purchased.

The maturity date specifies the date the bond matures, or expires.

The issue date is the date on which a security is issued. You may enter the date arguments either as text strings enclosed in quotation marks (for example, "7/4/99") or as serial date values (for example, 37000 for April 19, 2001.)

The functions for pricing odd-period securities-ODDFYIELD and ODDLYIELD-also require the date of the first regular coupon payment or the date of the last regular coupon payment in order to calculate the first or last odd period.

The rate argument is the bond's interest rate.

The yield argument is the bond's annual yield.

The redemption argument is the bond's redemption value per each $100 of face value.

The price argument shows the price of a bond expressed as a percentage of its face value. For example, a bond that cost $991.83 would be priced at 99.183.

The frequency argument gives the number of coupon payments made each year: you specify 1 to indicate an annual coupon, 2 to indicate a semiannual coupon, and 4 to indicate a quarterly coupon.

Finally, the basis argument specifies the number of days in the month and year assumed for the date calculations. You specify the basis as 0 for the US (or NASD) version of 30 days in a month and 360 days in a year; as 1 for the actual number of days in the month and year; 2 for the actual number of days in the month but 360 days in a year; 3 for the actual number of days in the month and 365 days in a year; and 4 for the European version of 30 days in a month and 360 days in a year.

NOTE: Excel uses only the integer portion of the arguments you supply to the add-in and yield date functions.

Using the YIELD function

The YIELD function calculates the yield of a security given the settlement date, maturity date, coupon rate, price, redemption price, coupon frequency, and basis. It uses the following syntax:

YIELD (settlement, maturity, rate, price, redemption, frequency, basis)

Suppose, for example, that you want to calculate the yield on a bond that you purchased on March 4, 2000, that will mature on May 31, 2011, pays a semiannual coupon of 3.5%, is priced at 101.1425, and will be redeemed at face value, or 100. Further assume that you want to use the European, 30-days-in-a-month, 360-days-in-a-year day count basis. To make this calculation, you use the following formula:

=YIELD("3/4/2000","5/31/2011",.035*2,101.1425,100,2,4)

The function returns 0.068507, which is equivalent to 6.8507%.

Using the YIELDDISC function

The YIELDDISC function calculates the yield of a discounted security given the settlement date, maturity date, price, redemption price, and basis. It uses the following syntax:

YIELDDISC (settlement, maturity, price, redemption, basis)

Suppose, for example, that you want to calculate the yield on a discounted security that you purchased on March 4, 2000, that will mature on May 31, 2011, is discounted at 56.1762, and will be redeemed at face value, or 100. Further assume that you want to use the European, 30-days-in-a-month, 360-days-in-a-year day count basis. To make this calculation, you use the following formula:

=YIELDDISC("3/4/2000","5/31/2011",56.1762,100,4)

The function returns 0.069412, which is equivalent to 6.9412%.

Using the YIELDMAT function

The YIELDMAT function calculates the yield of a security that will pay its interest upon maturity given the settlement date, maturity date, issue date, coupon rate, price, and basis. It uses the following syntax:

YIELDMAT (settlement, maturity, issue, rate, price, basis)

Suppose, for example, that you want to calculate the yield on a security that you purchased on March 4, 2000, was first issued on March 4, 1999, that will mature on May 31, 2011, pays a coupon of 3.5% semiannually, and is priced at 95.8194. Further assume that you want to use the European, 30-days-in-a-month, 360-days-in-a-year day count basis. To make this calculation, you use the following formula:

=YIELDMAT("3/4/2000","5/31/2011","3/4/1999",.035*2,95.8194,4)

The function returns 0.071698, which is equivalent to 7.1698%.

Using the ODDFYIELD function

The ODDFYIELD function calculates the yield of a security when the first period is odd- shorter or longer than a typical coupon period-given the settlement date, maturity date, issue date, first coupon date, coupon rate, price, redemption price, coupon frequency, and basis. It uses the following syntax:

ODDFYIELD (settlement, maturity, issue, first coupon, rate, price, redemption, frequency, basis)

Suppose, for example, that you want to calculate the price on an odd-period bond that you purchased on March 4, 2000, that will mature on May 31, 2011, was originally issued on December 7, 1999, pays a semiannual coupon of 3.5% starting on November 30, 2000, and is priced at 99.183 but will be redeemed at face value. Further assume that you want to use the European, 30-days-in-a-month, 360-days-in-a-year day count basis. To make this calculation, you use the following formula:

=ODDFYIELD("3/4/2000","5/31/2011","12/7/1999","11/30/2000",.035*2,99.183,100,2,4)

The function returns 0.066599, which is equivalent to 6.6599%.

Using the ODDLYIELD function

The ODDFYIELD function calculates the yield of a security when the last period is odd- shorter or longer than a typical coupon period-given the settlement date, maturity date, issue date, last coupon date, coupon rate, price, redemption price, coupon frequency, and basis. It uses the following syntax:

ODDLYIELD (settlement, maturity, issue, last coupon, rate, price, redemption, frequency, basis)

Suppose, for example, that you want to calculate the price on an odd-period bond that you purchased on March 4, 2000, that will mature on May 31, 2011, was originally issued on December 7, 1999, pays a semiannual coupon of 3.5%, last paid a coupon on November 30, 1999, and is priced at 99.183 but will be redeemed at face value. Further assume that you want to use the European, 30-days-in-a-month, 360-days-in-a-year day count basis. To make this calculation, you use the following formula:

=ODDLYIELD("3/4/2000","5/31/2011","11/30/1999",.035*2,99.183,100,2,4)

The function returns 0.070019, which is equivalent to 7.0019%.

Stephen L. Nelson is the author of many bestselling financial and computer books including the MBA's Guide to Microsoft Excel from which this article is adapted. Nelson also edits the popular Forming an S Corp and the Incorporating a Business, the forming an LLC web sites.

Article Source: http://EzineArticles.com/?expert=Stephen_Nelson

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P2P Lending Is The New Age Solution To Borrowing

Social lending is growing as a popular mainstream-lending platform. Where banks have failed - social lending hubs like Zopa & Prosper have successfully launched their lending services and are becoming effective community borrowing networks. One of the primary reasons being that banks charge a hefty interest rates on loans plus service charges, whilst online loans taken from a social lender tend to have lower interest rates.

According to recent studies, it can be seen that banks are continuously trying to push up the fees. This situation is not new to Australians where bank loans have become an expensive option. Australians are continuously looking for alternatives, which is in the form of cheaper banking solutions. According to a research-based report by Fujitsu Consulting, it appears that Australian banks charge, on an average, some of the highest fees in the world. According to this report by Fujitsu Consulting, a customer of an Australian Bank pays an average of $95.63 as monthly fee as compared to $55.67 in Britain, $71.79 in the US and $84.41 in Canada.

The current situation Australia is that banking customers are trying to put up a brave fight against those banks, which are charging them exorbitant fee. The most obvious path chosen by most Australian banking customers is closing of their account and charging a refund. A recent survey by NEWS.com.au found out that 44% of 1366 people were charged overdraft and 52% were charged penalty fee on credit cards. In such a volatile situation, Social lending hubs are being looked as a welcome break for all those who have been the victim of high interest rates for loans.

The Social Lending Wave

The social lending wave came in the form of Zopa in UK followed closely by Prosper in the US. Both social lending hubs are increasingly becoming popular due to their ability to offer easy loan terms as against banks, whose popularity has somewhat diminished. These social lending hubs have been developed with only one aim: which is to make a loan available to anyone without the all the unnecessary hassles of the bank or having a middleman in between. At the same time, it is an alternative investment vehicle. Both lenders and borrowers belong to the community. For lenders, it is an excellent investment opportunity where they can grow their money by lending it to another person at a lower interest rate than normally charged by banks.

The lower interest rate is due to the fact that there is no middleman and the best part is that both lenders and borrowers are allowed to decide upon an interest rate. Also known as peer-to-peer lending, the statistics talk loud about the success of this kind of lending platform. According to Prosper, they have been visited by people who have borrowed 15,000 loans at a net value of almost US$91.2 million. There has been a growth in the average loan amount as well, which has leaped from $6,100 to $7,000. As a result, a space or a market has been created for new players to enter and exploit the tremendous opportunities it offers.

Type of Loans Offered

Although not as comprehensive as banks yet peer to peer sites offer different types of loans. Zopa offers mostly unsecured and personal loans, the most popular being car loans. The top 6 loans at Zopa include:
• Car Loan
• Personal Loan
• Home Improvement Loan
• Consolidation Loan
• Short Term Loan
• Flexible Loan

At Zopa, you can borrow a minimum of £1000 and a maximum of £15000. A typical loan request at Zopa will look like this:

Borrower: Driveaway44
Amount requested: £8,040.00
Preferred rate: 4.5%

For example: If you want to borrow £5,000 over 36 months then the typical fixed rate of interest would be 7.2% APR in Zopa. Apart from this, borrowers have to pay a fee of 0.5% of their total loan value.

With the lead taken by Zopa and Prosper, peer to peer lending has started to make its way to other markets like Australia and New Zealand.

Lending Hub is a social lending hub that will launch in Australia in early 2008 and you can find more information at their website http://lendinghub.com.au PeerMint has been founded by a small team of ex-banking professionals and is aimed at being an alternative investment platform for lenders as well as a source of loans for borrowers at much more reasonable rates than the banks currently offer.

Ivan Mantelli is an accomplished writer as well as the owner of an Australian Lending Hub http://lendinghub.com.au

Article Source: http://EzineArticles.com/?expert=Ivan_John_Mantelli

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The Difference Between Secured and Unsecured Credit Cards

Millions of people use credit cards all around the world. A huge chunk of those users made mistakes when dealing with their credit cards. The consequence of the errors is costly.

A lot end up in debt and most of the time these are the people who rant about the credit card being the devil. But fact of the matter is, this is not the case. When used properly, credit cards are very good financial tools.

Credit cards are not necessarily just for people who have large sums of money to use. There are some cards even for the financially challenged, and these are called the: "Bad Credit Cards."

A bad credit card is just precisely that: a card with a very bad or low credit limit.

There are two types of credit cards: there is the secured and the unsecured credit cards.

Unsecured credit cards are the accounts that are free from the limits of a bank account. The limit of credit is up to the bank's discretion and not up to the size of the bank account. If the bank thinks that a person is deserving of a bigger credit, then it will be given.

This is the usual type of credit cards in the market and is fairly popular among the card shopping people. These are also the cards known to be more respected by other companies. These are also the cards known to send people to a very deep debt.

This is the type of credit card that should be avoided if the applicant is already in a financial mess.

The secured credit cards are the bad credit cards. These cards are grounded on the size of the account a person has. For example, if a person has a $1,000 balance, then that is all the credit a person is going to get. If there is a point where the balance reaches $0, then the person should go and "re-fill" the account.

The bank limits the credit to the money already present to avoid overspending, thus preventing even deeper debt. This will monitor the expenses of the person and will help the development of a financial recovery for some.

These credit cards are also known as "pre-paid credit cards" for there is only a fixed amount that can be used and the holder is the one who puts it there.

About the Author

by Thomas Rockwood

For more information about bad credit card offers and finding the best secured and unsecured credit card offers online visit http://www.Credit-Card-Offer-Reviews.com

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Personal Injury Insurance Claim

Keith Mallinson

Personal injury protection is advisable for most people depending on the everyday driving activities of the person involved. This is not just a frivolous indulgence either, especially if you have the responsibility of paying a mortgage and dependents that rely on your physical wellbeing. Personal injury protection or PIP may be a part of a larger personal insurance plan or a specific plan in and of itself. As with many things in life, it is often those that need something the most that cannot afford it and this type of insurance does not always fit into the average family's monthly expenses. The situation can be made worse when the policy has not been researched carefully and does not insure everything it was intended to.

In America personal injury protection is now a required form of insurance cover in many states although the amount does vary depending where you are in the USA. In Alaska for example a car driver will require ten times the amount of insurance cover that a driver will in Florida. Even if personal injury protection is not obligatory in your state, you may still want to consider purchasing the insurance policy to protect you from any personal injury insurance claim. Personal Injury protection will pay around 80% (depending on the insurance plan) of the costs of the insurance holder and passengers. But because personal injury protection is considered a no fault insurance policy it covers you and your passengers, even if it was your fault, for medical bills, expenses and any lost earnings.

Before you purchase personal injury protection, you would be advised to take a look at your current policies and see whether or not the areas covered by the proposed personal injury protection are not already duplicated with other insurance plans. It could be that the cost of lost wages and medical bills may be recovered through an existing health insurance policy. If you were to discover this it may only be necessary to take out a minimal cover personal injury protection policy and possibly not require one at all.

Your driving record can also be a contributing factor when considering whether or not you actually require personal injury protection. If you carry passengers on a regular basis your health insurance might cover your own medical expenses, it won't however, cover those of your passengers (unless they are members of your family who are on your health plan). If, after checking your current health insurance you find that passengers are not protected by the policy you will be required to ensure they are covered by a personal injury protection plan in the event of an accident. It is not unfair to assume that any person traveling in your vehicle should be the responsibility of the driver and insured individual.

If you live in a state that does not have mandatory personal injury protection you may want to add this into your insurance portfolio. Many drivers find they only require minimal personal injury protection cover as they are middle aged, experienced drivers with a good record and already have an adequate health insurance plan in force. Younger drivers however, do not fair so well if they are inexperienced with little insurance cover in place but they are often in greater need of good health insurance cover to protect themselves and any family they have. Accidents unfortunately happen but before you rush into buying insurance cover, look into the subject as it could save you some money but more importantly will make you feel more secure when you drive with passengers.

About the Author

Keith Mallinson BscHons Provides Information on personal injury insurance, what it is, how to find auto accident personal injury insurance claim and where to find the best personal injury insurance settlement information. http://www.personal-injury.insurance-llc.com/personal-injury-insurance-claim.html

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Bad Credit Guaranteed Payday Loan – What you Should Know

Apurva Shree

You can get a bad credit guaranteed payday loan when you need immediate cash for urgent payments. It is easy to apply for a payday loan online. It is the best solution if you need a small amount of cash urgently and your payday is still a few days away. You can borrow from relatives but that makes you indebted to them which most of us do not want. The best thing is to take a no fax guaranteed payday loan for a small amount of cash because you can repay it on your next payday.

Advantages Of Taking A Payday Loan

There are many reasons why most people prefer to take a bad credit cash advance. The main advantage is that it is easy to apply for a loan online. You can submit the online application form which you can find on the company website. Once you do that, you can get an approval almost immediately. Within twenty four hours the cash is deposited into your account. This is the perfect solution for amounts up to $1000 as it is a short term loan which you have to repay when you get your next paycheck.

Another advantage of a personal unsecured guaranteed payday loan is that there is no need to fax any papers to the lender. They process all the details electronically and as long as you provide the information they need, you do not need to fax papers to them.

A major reason why the bad credit guaranteed quick cash advance is so popular is that there is no credit check conducted. The main reason why banks do not approve loans is when a person has a history of bad credit. This is not so with a personal unsecured guaranteed payday loan. Even with a not-so-perfect credit history, you can still be approved for a loan till payday.

Things To Be Aware Of

Most loans have some fees attached to them such as processing fees or service charges. These fees are usually higher than regular bank loans. The annual percentage rate or APR is another factor to consider. Sometimes you may end up paying as much as 600% as APR. The minimum interest amount works up to about $15 for every $100 that you borrow. So before taking a bad credit guaranteed payday loan, it is advisable to compare the fees and rates of different companies so that you can find the one offering you the best deal.

About the Author:

The best thing about a bad credit guaranteed payday loan is that there is no credit check conducted. A history of bad credit will not deter you from getting a guaranteed approval payday loan. But we careful that you should not make taking a personal unsecured guaranteed payday loan a habit. Visit guaranteed payday loan for more information.

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Prospective Loan Applicants 'Should Act Now'

Britons looking to apply for a loan - and in particular those wanting a low rate of interest on their borrowing - should act as soon as possible, an industry expert has stated.

Speaking earlier this week, Esther James, personal finance analyst for Moneyfacts reported that this week's withdrawal from the personal loan market of the Hanley Economic Building Society and Eskimo Loans, which was funded by Northern Rock, could act as a blow to consumers looking to take out a UK loan. And as these two financial providers "bite the dust", the economic expert asserted that the pulling out of the market by Leeds Building Society, GE Money and LV= earlier this month means that the level of unsecured loan lenders has fallen by about ten per cent in the space of just four weeks. As a result, she suggested that consumers may develop more difficulties in finding a cheap loan.

Commenting on the findings, Ms James said: "Such a large reduction in just the last month is worrying. With no signs of rate rises slowing, it's a rather unsettled market. The credit crunch is showing its strength in the personal loan market. Anyone considering a personal loan might be advised to act sooner rather than later. With less choice, a more cautious lending strategy and the impending decision on payment protection insurance sure to shake up the market, the 2008 loan market could look very different."

As a result, prospective borrowers wishing to apply for a loan may wish to act immediately. According to the Moneyfacts analyst, there still are a "handful of competitive deals" available - which could be welcomed by those after a cheap loan. However, pointing to the financial services firm's best buy charts, Ms James indicated that loans with interest rates as high as ten per cent are becoming evermore prevalent. Consequently, those considering borrowing were urged to take the time to scour the market for the most inexpensive deal that they can find. In doing so, she claimed that it is possible consumers will be able to save "a bundle" in the long-run.

With the Christmas period - and the subsequent rise in spending that it can bring - many people could well become concerned that they may develop problems in managing their money. In turn, those looking towards a cheap loan as a means of help with money difficulties should act straight away. And in applying for a personal loan as a means of consolidating debts, borrowers are likely to discover that their financial situation takes a turn for the better. Robin Amlot, senior editor of Moneyextra, recently claimed that taking out an unsecured loan for consolidation purposes serves two main objectives.

As such borrowing carries a fixed rate of interest, he suggested consumers will always know how much money they are paying out each month. In addition, Mr Amlot reported that the loan also marks a date by which borrowers will have their debts cleared off. He added that although applying for a loan makes a "great deal of sense" in terms of providing help to get back on their financial feet, people should be careful to ensure that they are able to make repayments and avoid falling back into the red.

Abbi Rouse writes for All About Loans. Our visitors can apply online for poor credit secured loans. We also specialise in cheap loans, and the cheapest consolidation loans online. Visit today http://www.allaboutloans.co.uk/

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