Friday, September 17, 2010

Which Financial Account Management Website Do You Use?

For a while, I've had a poll in the sidebar of my blog that asks the question: Which financial account management website do you use? Readers are asked to vote among financial aggregation sites such as Wesabe, Mint, and Yodlee. After I started the poll, I wrote a post that Wesabe was shutdown at the end of July 2010.

Nevertheless, here are the results so far:
Wesabe: 4%
Mint: 20%
Yodlee: 76%
Other: 0%
None: 12%

The percentages don't add up to 100% because readers are allowed to select more than one website when they vote. If you haven't voted yet, please see the poll in the sidebar.

In a financial jam? Get payday loans online from today!


Wednesday, September 15, 2010

How Payday Loans Work

Payday loans fill an important void that is not served by traditional banks. In a perfect world, everyone would be on top of his or her finances, and there wouldn't be a need for payday lenders. But in reality, most of us have gotten behind on bills at some point.

QuickQuid is a United Kingdom lender that offers cash advances based on using your next paycheck as collateral. A payday loan is something to consider if you find yourself in a short-term bind and in need of money. For example, if you have been shopping for one too many "bargains", and can't make your credit card payment, a payday loan may help you out. Applying for a payday loan is simple, and takes only a few minutes to complete. Most payday loans are quickly approved.

QuickQuid has a FAQ that explains how to apply for a loan. A bank account and a steady job are the requirements to apply. The actual terms for bad credit loans are governed by the Consumer Credit Act of 1974 and other applicable UK laws. QuickQuid assigns borrowers to one of three credit tiers: excellent, good or average. This is based on various factors including, but not limited to, your credit history, employment history and loan repayment history.

Based on this rating, a finance charge of £10 to £14.75 per £50 borrowed will be assessed. For example, suppose that you have excellent credit and borrow £250 from the payday lender. The lender will transfer this money to your bank account, and expects you to pay this amount plus a fee of £50 on a £250 loan (£300 in total) when you receive your next paycheck.

I advise borrowers to read QuickQuid's disclosure of finance charges before applying for a loan. The effective annual percentage rate (APR) on the loan can be several hundred percent, depending on the situation. If used correctly, a payday loan can help tide you over to the next payday.

This post is sponsored by QuickQuid.

Tuesday, September 7, 2010

Guest Post: How Can Bankruptcy Affect Your Professional Career?

Have you recently filed for bankruptcy? Then it might create impediment in the path while you are in search of new jobs. The prospective employer might ask you whether you have filed for bankruptcy or not. You need to reveal the information to your employer even if it has been years back since you have filed bankruptcy. If you choose to keep you lips sealed regarding your filing then you might be terminated on your secret being revealed. This article would help you to show how filing bankruptcy can take a toll on your professional career.

Individuals who have filed for consumer debt protection they have proved themselves financially unreliable so many business houses avoid employing bankrupts. When individuals are indebted due to joblessness they desperately look for jobs. And bankrupts are in dire need of jobs due to financial crisis. When the debtors file under chapter 7 bankruptcy their debts are discharged by the U.S Bankruptcy Court but the potential employers make it an issue to turn them down.

A legal solution through consumer debt protection is provided for debtors who are unable to manage their financial obligations. Unless the employers reconsider their stance of disappointing the bankrupts seeking for a job the situation won’t improve.

A challenging process to find job after bankruptcy:
The job seekers need to have clean credit records, no past criminal record, and negative drug tests as it would be verified by the future employers. As it would ensure them that they are hiring someone responsible for their organization.

But if your credit report displays Chapter 7 or 13 proceeding then you might not be considered eligible for the job. If you file under chapter 7 or 13 bankruptcy then it remains on your credit report for 7 to 10 years. Their financial record is ruined and that makes thing difficult while applying for a job.

If you inform the employers about your distressful situation and about the tarnished financial record before they unravel the secret. Then it might give a positive impress and they might reconsider to hire you. It might be purely based on past work performance, experience, and professional qualifications while ignoring your filing.

Law prohibits Discrimination:
U.S. Bankruptcy Code under Section 525 forbids discrimination against anyone exclusively on the basis of filing bankruptcy. The employers have the right to screen the individual if they plan to hire them. If the individuals are associated with the financial, government, high security sector then this would be a legitimate concern for the employer. If the employees go through financial doldrums then they might get in the trap of a fraud, bribery, robbery in order to come out of such financial disaster. This kind of act might hamper the interest and reputation of the company.

The future employer can reject you by showing other reasons but the reason might be on the basis of bankruptcy. But after getting the job if they terminate you on the grounds of bankruptcy then you have a right to file a case against them.

By the Fair Credit Reporting Act under Sections 604, 606, and 615 a few set of guidelines needs to be followed by the employers while evaluating your credit reports.

1. If your credit is being reviewed for job evaluation then the employers have to inform you through a letter.
2. A “pre-adverse action disclosure” should be sent by the future employer if he figures out any discrepancies on your credit report. It helps you to correct the inaccurate information on your credit reports.
3. The employer must give you an “adverse action notice” before terminating you from the service, if he traces some unpleasant information on your credit report. The contact information of the credit reporting agency providing the report should be there on the notice. If you find any inaccuracy on the report then contact the agency to solve the disparity. And demand an additional free report within 60 days from them.

A bankruptcy attorney can help you with his proficient knowledge on such cases. If you smartly deal with things then it won’t be difficult to acquire a job even after filing bankruptcy.

About the Author:
This is a guest post by Kevin Craig who is a financial writer. He has helped lots of debt burdened people with free counseling and advices on many finance related topics. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.

Disclaimer: The information provided here is not meant as tax or bankruptcy advice. I encourages readers to consult with a bankruptcy attorney or financial adviser if they have specific questions about bankruptcy.

Thursday, September 2, 2010

Guest Post: 4 Ways To Avoid Debt Relief Scam

It is not difficult for the customer to trace a fraud debt relief agency. You need to be conscious of the warning signals that these scam companies often try to hide. You can secure your financial future by avoiding getting into the trap of Scam Company.
  1. If you have found a debt relief agency from the internet then try to be careful about its reliability. Often the debt relief companies are fraud that advertises their company in order to help people to come out from the trap of debt. If you are looking for debt relief agency then ask help from someone trustworthy who can suggest you a dependable debt relief agency. It is crucial to verify the history of a debt relief company. Make sure that that the debt relief company is accredited by Better Business Bureau. It is a pro consumer protection right that is labeled with the authentic debt relief agency.
  2. Ensure that the upfront amount in not excessive compared to the other debt relief company. Make sure that you compare the rates of all the debt relief companies and then choose that is more affordable for your pocket. If you find that your debt relief companies asking for more upfront fee then demand a break up of the fee. And if they fail to produce then avoid enrolling with debt Relief Company.
  3. The first thing that you should need to discuss with your debt relief agency is about settling the interest rate and negotiating on the past due as well as on the over limit account balances. It is essential to keep a check on the creditors in order to ensure whether the negotiation terms are being followed or not. At times the credit card companies agree on the negotiated amount but at the end of the month that might slip out from their mind. So it would a duty of the debt relief officers to keep a vigil on the creditor to see whether they hold on to the bargain till the end or not.
  4. Most debt relief alternatives for instance pay day loan outlet should be avoided even if they are in severe financial catastrophe. You might get influenced by the commercial on the televisions in this way you get trapped in a company associated with fraud. With their false promises they might attract many borrowers who are in dire need of help in order to get rid of debt.
The interest rates are too high on payday loan and the borrowers who think of settling their debt with the payday loan cannot come out from the vicious cycle of debt. It would be better to take help from your family members than getting into the maze of these scam ventures.

About the Author
This is a guest post by Kevin Craig who is a financial writer. He has helped lots of debt burdened people with free counseling and advices on many finance related topics. If you are interested in writing a guest post, please contact PF Stock at the Email address listed in the sidebar.