May 31

If you have filed bankruptcy in the past, and you’ve found yourself in financial trouble again, you’re probably wondering if you are eligible to file for bankruptcy protection again. Filing for bankruptcy a second time is rarely a pleasant thought – but if you’re struggling with debt, you need to know if this is an option for you.

In truth, there are no limits on how many bankruptcy petitions you can file; however, in order to receive a second discharge, you’ll have to wait a certain amount of time between filings.

The amount of time depends on the type of bankruptcy you previously filed, and the type that you intend to file now. Here are the guidelines for bankruptcy filing eligibility:

  • If you previously received a Chapter 7 discharge (which erased your debts, rather than restructuring them), you will have to wait 8 years before you can receive another Chapter 7 discharge. If your second filing will be for Chapter 13 protection (which reorganizes your debts), the waiting period is 4 years.
  • If your previous bankruptcy was a Chapter 13, you’ll have to wait 2 years before receiving another Chapter 13 discharge. If you’re seeking a Chapter 7 discharge, 6 years must have passed since your Chapter 13 filing.

Keep in mind that the time periods are measured from filing date to filing date, not from discharge date to filing date.

Also, there are exceptions to all of these rules, so you may be able to file before the end of the waiting period in certain cases. If you are considering another bankruptcy, contact a bankruptcy attorney to find out if you qualify for an exception.

May 30

Everybody wants to purchase a good classic car as it shows class, style and glamour of buyer. As classic car is very expensive and hence you need large amount of money to purchase that car for you so, you need huge amount of coverage to protect your classic car from various kinds of risks and dangers.

classic car insuranceIn addition, thieves also target the expensive and luxurious car always so you must carry some safety equipments on your classic car. Whenever you going to buy car insurance policy for your classic car then it is wise to contain some information prior about the various car insurance quotes that suits your needs. By getting knowledge before planning to purchase any car insurance policy, you will able to know the different factors that insurance companies consider when they determine your premium rate.

First, you need to know the category of your car according to that insurance company from whom you are purchasing your car insurance policy. All insurance companies generally have three categories of cars but the method of each insurance company to decide the category of different types of cars is same. All the car insurance companies know those cars who manufacture before the year 1903 as veteran cars. However, for cars manufacture between the year 1903 and 1933, insurance providers call those cars as vintage cars. Finally, cars manufacture after the year 1973 is termed as classic cars. You will not able to purchase car insurance policy at the low premium rate if you have a classic car. This is the reason that why it is necessary to contain more and more information regarding various classic car insurance quotes available in the market.

You may able to protect your classic car from thieves and damage occur due to fire as all insurance companies will only provide protection for your classic car from the above said risks. Some insurance companies charge assessing fee from their customers to assess their cars so it is wise to ask from your insurance provider that whether there is any accessing fee or not. Also want to know the number of miles you can drive freely in a year without exceeding maximum limit so that in case your insurance provider offer any low mileage discount you will able to receive that discount easily. Before purchasing any car insurance policy for your classic car, you need to know the various driving restrictions as well as safe place where you should garage your classic car.

May 29

Auto refinance is basically the loan which is availed to pay off your current auto loan. Therefore these loans are generally cheaper and you may also look for extending the time span for the repayment term of the loan and also the amount that is usually required to be paid each month. However this does not reduce the cost of the loan but makes the monthly payments more manageable.

Refinancing house loans are also similar to refinancing auto loans. If you have a poor credit score it will be required for you to shop around and undertake research and the best way to conduct your research is the use of internet because it is the quicker and the cheaper way to conduct your research. You can normally apply for a loan online if you happen to come across a loan that well suites you. The finance is also easily available for those with bad credit history as well.

You can search for the companies that specialize in auto refinancing. There are many lenders in the financial market who give a good deal to those who pay on time. However the lender might deny providing the loan amount depending on the ratings you have as a borrower with a bad credit score. These loans basically the kind of loan which involve trading an old car having favorable characteristics with the new one at better terms and conditions. These loans are such kind of loans for which a low rate of interest has to be paid. The application procedure generally gets completed within an hour. There are certain steps which are required to be followed to refinance an auto loan. Firstly, it is required to contact his or her car loan lender to validate the payoff amount of the car loan. An electronic mail is sent to the applicant regarding the repayment procedure. Thus the entire procedure becomes convenient for the borrowers.

auto refinance

May 28

Two bills designed to address some of the problems resulting from the economic crisis have been signed by President Obama. The first deals with mortgage fraud and the other with helping families who are involved in a foreclosure situation save their homes.

 

Look out rip-off artists, enforcers of the new mortgage fraud bill means serious business. Almost half a billion federal dollars has been authorized to spend on targeting charges of mortgage fraud. Agencies the likes of the Secret Service, U.S. Postal Service and HUD are all getting additional funding to increase their security measures.

 

The Fraud Enforcement and Recovery Act now sanctions the government to go after companies or individuals currently out of reach. Currently, an incidence of mortgage fraud can result in investigation, prosecution, civil penalties and prison time at a federal level, opposed to the prior gentler state penalties previously enforced. This new Act applies to all types of mortgage fraud, no matter how minor the offence.

 

In the past, these schemes defrauded home owners, realtors, lenders and builders out of billions of dollars each year. The FBI intends to send a message that mortgage fraud will not be tolerated and it is expected that offenders will receive stiff penalties in order to set an example to others.

 

 

The second bill, simply entitled, “Helping Families Save Their Homes Act,” is intended to simplify the process for homeowners to receive foreclosure financing and modifications to existing loans. It also makes it easier for the lender to offer these types of options and hopefully prevent an impending foreclosure.

 

The new law also offers protection for renters who find themselves living in a home whose owners are facing foreclosure. Under the old rules, tenants would have to move immediately following foreclosure, now they have the option to continue renting for a term negotiated with the lender. This makes sense on so many levels. Now hundreds of families who otherwise would have found themselves on the street, still have homes. Lenders no longer have to deal with the problems associated with the upkeep of an empty home. Hopefully this will reduce occurrences of complete neighborhoods of foreclosed houses sitting vacant and facing ill repair and vandalism. In many cases, reliable tenants are happy to stay on and maintain the property.

 

The law provides additional homeless relief, makes better use of local organizations in this role, and allows them more latitude when allocating federal funds for assistance.

 

Part of the reason that mortgage fraud became so widespread was attributed to the lack of a single watchdog affiliation to oversee the the sketchy subprime loan offerings, underwriting and lending schemes. Instead there were a number of small agencies, each only seeing part of the problem, but no single unit had the power to actually deal with the issue as a whole. Currently, the Obama administration has a plan in the works to establish a single federal agency designed to watch over everyone involved; from the small brokers to the major lenders.

May 21

The prime necessity of unemployed people is that to achieve new job, may keep away the issue of unemployment and include themselves in the public of employed. In this way, mostly people are failed to achieve their task on account of no provision of the cash. Even though they have been failed, yet do not loss their courage to be employed because lots of online lenders are presented with loans for unemployed to succor those unemployed who are 18 years old and haven’t got any expectation of funds from their family members or banks in order to meet their desirable task.

By way of these loans; to be employed is possible for one and all because these loans are obtained in two forms secured and unsecured. By the help of one of the two; the task as set up new own business, pay for higher education and to seek out new job. This kind of loans are available for those people who are worthy in such criteria for instance “their age is older than 18 years, their residential proof must be past for 6 months, citizenship is of UK and have an active checking account past for 90 days old.” Having such criteria, these loans are approved in the least span of time.

In order to meet the amount of secured loans for unemployed; there is a risky factor for the borrower that is to lose their assets at the time of repayment failure. In point of fact, these loans offer the large amount by requiring one quota of property which consisting of home, vehicle or real estate. Amount that can be derived according to the borrower’s necessity, for a time period of “twenty five years” from approval date, and the rate of interest is very low.

Unsecured loans for unemployed do not require any security of collateral in its place because these loans are offered generally for a small repayment period at somewhat higher interest rate in comparison of secured forms. These loans are the feasible alternatives for those people who are on the look out for a magic potion to dispose of bad credit history. Now they can easily derive these loans on giving the promissory of timely repayment capacity. The repayment time may be settled for ten years from approval date.

May 18

American Life Insurance the most trusted company which has a reputation of about 87 years. This company is one of the globally recognized life insurance companies and it has a number of branches all over the world which has a vast customer line following. American Life Insurance gives various tax benefits to all its insurance policy holders and it also takes care of all your life insurance related policies like retirement insurance policy, wealth management policy, medical insurance, health insurance etc.

Life insurance basic terms as you know is an important factor in every person’s life and when it comes to life insurance age is not the main criteria when it comes to get your life insured. American Life Insurance also known as AIG insurance company and majority of Americans has insured themselves with this life insurance company. The market value of this company is high and you can find the companies ratings in the financial books due to their vast financial transactions with other financial institutes.

There are two major life insurance policies that this AIG Insurance Company deals with i.e. the Term Life Insurance and Whole Life Insurance. In case of Term Life Insurance the policy taken is for a short period of time and Whole Life Insurance is where you get yourself insured for your whole life.

AIGAIG insurance company is one such life insurance company that charters to the needs of the common person. One of the benefits of getting insured in this life insurance company is that you reap a rich harvest of life insurance benefits on all your life insurance policies which no other life insurance company provides you as this company provides you with the benefits when you are still alive.

This life insurance company in order to increase its relationship with their vast flowing customer’s have started life insurance online services which has made it easy and convenient for them to get themselves and their family members insured staying within the very comforts of their own house. AIG Insurance is one of the most sought of companies and it is a tough competitor to other life insurance companies.

May 17

Countless parents pay a lot of money to assist their children acquire the best professional training but forget to forfeit the little essential to help them acquire the skills of managing their education paybacks- salaries.

Financial decisions are almost attached to every aspect of our lives and this is what makes financial literacy very important to both parents and their children as they grow up.

Why teach your kids about money

There are several benefits a child can gather from being wise on money matters, some of which my include the following.

Children can administer their own incomes that parents provide now by spending on necessities while avoiding extravagance.

A child will value savings and investment decisions. Money matters education along with parent’s intervention on the child’s financial use enables him or her to think and take action about tomorrow.

A child becomes independent when still young. How many parents have brought up grown-ups who remain parasites even when it is obvious that they should be out of the nest and facing the world on their own?

Children who grow up understanding that earning money requires handwork, determination and smart spending and saving decisions, can be said to be self-sufficient.

Becoming an entrepreneur is thought out to be inborn for some people while others are made.

Your child could later become his or her own boss in a business and if they will be financial literate then, it will make them strategic business and money planners.

Simple ways a parent can use to train kids personal finance

Soon after he/she learns counting, introduce them to money. To do this, parents need to be patient with the kids as they take these lessons. Normally they understand fast by observing a repeated money lesson.

Open up your own money values, saving it, growing it, and most notably spending it and this means as a parent you need to consider how well you master your own finances.

Assist them in making distinctions between needs, wants and luxuries. Not understanding these ends up in overspending and really bad debts even to the adults.

Emphasize on setting spending goals every time kids request for money, or items, to discourage impulse buying; in other words, let them learn the process of budgeting.

Initiate the principle of savings against spending and demonstrate how swift money grows.

This will begin if you showed them how to list their needs in order of priorities and emphasize on spending based on urgency not luxury, when cash is limited. Involving them in shopping will sharpen spending skills more.

Allow them to participate in opening their own bank saving plan by letting them accompany you there.

Some parents open many of such plans on behalf of their kids and say nothing until a time to join college comes.

One way of raising a completely responsible child is by leaving them to be vulnerable on financial issues, and without you around, they will find a solution to the problem.

Let them participate to such easy tasks as opening bank accounts, applying for credit cards, collage loans, and the like, only come in if they need any clarifications.

Keep your distance and allow your children make their financial decisions on their own, whether good or poor.

The bad ones motivate them to be careful with money tomorrow while good ones mean they are progressively getting on track on their own.

One way you can enhance this process is by all means training them how to keep track of the money they have spent, invested or saved by maintaining good records.

Paying a personal finance management course for your collage going child or talk them into paying if they are already done and independent is the best decision a parent may never regret why they made it.

May 16

There are many places you can go to get a mortgage quote. The internet has made it even easier to get help finding the right mortgage. There are many sources you can go to get a quote. You can go direct to the lender although you will only get information from that lenders limited range or you could go through an intermediary like a mortgage broker. In my opinion the best way to is to go through a mortgage broker.

mortgage broker

A mortgage broker takes the pain out of searching for a mortgage. You will complete an application form including details of the property you are interested in, how much you are looking to borrow, deposit you can put up against the mortgage as well as the length you want for your loan.

Many mortgage brokers will search the whole market to find the best deal for you, saving you time and effort. It is also possible to find a broker who won’t charge a fee for their services. You can make use of their services without the obligation of going ahead with an application.

Using a mortgage broker will also give you the benefit of expert advice. They can save you many wasted hours in the searching process. They can advise you on the type of mortgage that will suit your circumstances and help you at each stage of your application.

With the changing market conditions, it is more difficult to acquire a mortgage when compared to eighteen months ago. Mortgage brokers are therefore of more benefit nowadays, helping you meet the new market conditions.

Whether you are serious about getting a mortgage now or want to investigate for the future. A mortgage broker can get the mortgage quotes for you and without cost.

Search for a mortgage broker online now, many are available and looking for your business. It is a competitive market so they will all be after your business and in more need than ever. Remember to use a whole of market, fee free mortgage broker. Giving you expert mortgage advice without the obligation or cost incurred.

May 12

When it comes time to do a home equity refinance there are several terms that you should be familiar with. Many people do not understand how a home equity loan works or even what home equity is. There are two basic types of loans you can get when it comes to home equity; an equity loan or a home equity line of credit.

So what is home equity?

Quite simply it is the difference between what you still owe on your home and its appraised value, or what your home is worth. Here’s a simple example.

If your home is appraised at $150,000 and you still owe $50,000 on your mortgage the equity in your home is $100,000. When you take out a home equity loan, or refinance your current home equity loan, you are borrowing against that equity you have built up in your home. This type of loan will give you a one time lump sum in the form of a check that you can do whatever you choose with. You will have to pay it with a monthly payment over a set amount of months, much like a mortgage. A home equity line of credit works a little differently. You still are able to borrow a specific amount of money based on the equity in your home, but the money is not paid out in a lump sum. You can tap into your line of credit as needed, much like we do with a credit card. The nice thing about a home equity line of credit is you only have to make payments on the money you have borrowed.

If you have a $10,000 line of credit and your use $3,000 to do some home remodeling you will only make payments on the $3,000. It is important to remember that just like any other loan you will be paying interest on any money you use out of your credit line. When you are looking to do a home equity refinance loan you must realize that you are using your home as the collateral in order to get the loan. You are guaranteeing your ability to repay the loan against the value of you home.

If for any reason you cannot make your payments the lender has every legal right to foreclose on your home so they can sell it to cover the value of the loan. One of the best reasons to do a refinance your current home equity loan is to get a lower interest rate. If your original loan had a high interest rate you can save quite a bit of money if you are able to obtain a lower rate. If you are thinking of doing a home equity refinance then do some research and get at least four quotes from reputable lenders to see which package may work best for you.

May 3

Here’s a little story. There was a 16 year old boy who won a thousand dollars in a contest. He lived in a run-down tenement block. A smart kid, he learned the basics of financial management in school, so he decided to invest his prize money in stocks. 

Fast forward eight years, his investment brought him $200,000. This, in turn, he used to put up a car rental company, which eventually made him a millionaire in a couple of years.

Too good to be true? Not exactly. Scenarios like these happen, as facts show.

Small business owners become millionaires, even billionaires, with the right decisions and actions. Not having a lot of money to invest now is not a hindrance to making a bundle on your investments later. You can take out a small instant payday loan, invest it wisely, repay the loan, and see how your investments grow.

But before you turn into an investor, there are two important things you should think about first. One is to make your investments based on your needs. With this, time is the key. A good amount of time is needed for any investment to grow. Professional investors have a term for it: investment time horizon. It simply means how soon you want to earn from your investments.

The great thing is there are many kinds of investments and you can choose from these to fit your needs and financial resources. You can have short term investments, like time deposits, that you can use within months or a year. If you have time to wait for your investments within the next three to six years, then a medium-term investment is good for you. Cash is okay but stocks and bonds are better since their value is higher. But if you want your investments to earn more, think about long-term investments that take ten years or so to fully appreciate and mature. Remember that smart kid in our little story? It took eight years for his investment to grow to a big amount. With this kind of investment, better look for a stable institution to invest your hard-earned money in for years to come.

The second important thing to think about before you make your first investment is to go beyond the expected risks and challenges. Given the financial hard times, you would think twice before investing and taking cash loans for it. You’ve read and heard stories of crashes in the stock market where values of shares come crashing down. There’s really no way of saying that your investments are solidly safe. That’s why you have to consider where you’ll place your hard-earned cash.

If you’re short of cash, look to payday advances; they’re easy and fast and a more feasilble option that getting a larger loan amount that you don’t necessarily need. You don’t have to wait for days or even bear long lines because the application process is done online.

Investing might be an alien concept to you but it’s worth your time and effort to look into it. It’s up to you to choose which type of investment will work for your needs and lifestyle. So, are you ready to make your money grow?