Friday, August 31, 2012

How to know whether a debt consolidation company is a scam

Everyone wants to become debt free and many people assume debt consolidation as a legitimate means to pay off their debts and breathe a sigh of relief. As a result, they look for debt consolidation companies that will solve their debt problems for good.

However, they are not aware there are scam debt consolidation companies in the garb of legitimate debt consolidation companies that target gullible customers to make some quick money. They will make some promises that are too good to be true and this is one of the surefire signs that they are a scam. You should always stay away from these scam bill consolidation companies all the time since trying to get debt free with the help of any of these companies can land you in bigger trouble. Given below are the signs that will help you identify con debt consolidation service providers:

1) Not informing you about your rights as a debtor

A scam debt consolidator will never let you know about the rights you enjoy as a debtor. They will also not say what steps you can take for yourself to make yourself debt free.

2) Ask you for upfront payments

Scam companies will ask for payments from you even before they provide any service to you. They will also make false promises to repair your credit to get you into their trap.

3) Tell you not to contact any credit bureau directly

A scam company will advise you that you don’t need to contact any credit bureau at any point of time.

4) Tell you to prepare a new credit report

It is a surefire sign of scam companies that they will tell you to prepare a fresh credit report with an Employer Identification Number.

5) Ask for your Social Security Number

A genuine company will never ask for your Social Security Number by any means.

6) Tell you to challenge all your information in the credit report

A scam company will give you advices to challenge and deny all your information that is present in your credit report. They will also tell you to generate a fresh credit identity.

7) Try to sell you loan products

Scam companies will try to lure you into a second mortgage or home equity line of credit. Though you can consolidate your bills with their help, you have to furnish your home as collateral and have the risk of losing it.

8) Offer remarkably low interest rates

It is a sign that there are some hidden charges involved which the lenders won’t disclose.

9) Asking for personal financial details

A genuine consolidation company will never ask for details like your bank account number, Social Security Number, driving license number and other details prior to signing an agreement. You might be exposed to identity theft.

Knowing these signs will always help you avert a scam bill consolidation company.

Jonny is a financial advisor with He helps people to resolve their credit card problems and also problems related to home equity loan, personal loans, and other loans.

Wednesday, August 15, 2012

Why Should You Consider Getting a Logbook Loan?

The economy is at its all-time low. The banks are tightening their grip against their credit coffers and getting choosy about the people they lend to. The government’s economic policies are falling flat on their face. And you have just run into a huge financial crisis. Well, it seems logbook loans are the only way out of it that is there for you. While it is true that no one likes to pay a high interest rate like that required with a logbook loan, the reality is that you don’t have much of an option left. In case you are still in two minds about applying for one, here are 2 reasons to give you the incentive:

1. Available Without Property

Usually any form of regular loan from a bank will require you to submit a piece of tangible property as a collateral security for the loan amount. But what about the people who are renting an apartment or don’t own their home by themselves, are they supposed to decay away with the onset of the financial doom?

This is where a logbook loan can come to your rescue. The only form of security that you will need to present while applying for a logbook loan is your self-owned vehicle. Thus, the logbook loans are available for every individual that is there who owns a car, and that is quite high a number.

2. Flexible Usage

When you apply for a car loan from a bank you can’t use the amount for any other purpose but to purchase a car. Same applies for educational loans, home loans et al. But the situation is slightly different when you decide to apply for a logbook loan. You are free to use the sanctioned loan amount for any purpose that you need it for without any restriction on the usage.

You need to pay your rent? The logbook loan amount will suffice. You need to buy groceries? You can easily use the logbook loan amount. With this level of freedom offered to the lender when it comes to spending the sanctioned loan amount, logbook loans are surely the best bets one has during the difficult times.

Other usual upsides of applying for a logbook loan includes the likes of the fast processing time it has and the hassle manner of the whole affair which involves no credit history check.

B. Lyttle is a finance expert with over 5 years of experience. She recommends the website, logbook loans 4U, if you wish to find viable lenders to apply for logbook loans.

Are You Covered?

So, you’ve stepped out on a limb, and find yourself in business. Or maybe you’ve operated a business for some time, but can’t understand the difference between one insurance type and another.In this article, we will take a look at three main types of business insurance you may require:
1. General Business Insurance;
2. Professional Indemnity Insurance; and,
3. Public Liability Insurance.
General Business Insurance
As the name suggests, this type of policy will cover the business in a general sense. Things like your office equipment, stock, shelving, and any plant or machinery (except vehicles,) should be covered under General Insurance.
The reason for cover of this type is to protect you against theft, fire, flooding, or other damage and loss. Think about this: if you lost your business assets overnight, how dramatic would the effect be on your livelihood? With a General Business policy, you are able to rebuild in a relatively short time.

Professional Indemnity Insurance

You’re all taken care of in the General side of insurance, now it’s time to take a look at what you do, to see if this should be covered as well.
Do you offer professional services as part of your business? Are you an investment advisor, insurance broker, naturopath, medical practitioner, draughtsman, or some other professional where you are advising or suggesting a course of action to your clients? If so, Professional Indemnity Insurance is a must for you.
Should a client pursue a civil lawsuit against you, Professional Indemnity Insurance is what will protect you from the cost of the proceedings, along with any findings that award the complainant a sum of money. Essential if you wish to carry on your business without facing the bankruptcy courts!

Public Liability Insurance

Public Liability Insurance also covers the cost of litigation. However, while indemnity covers you for services rendered, liability protects you against class action resulting from an event on your premises.
For example: imagine you own a small grocery store, and a child knocks over and breaks a bottle of oil. The child’s mother is afraid you will charge her for the damage, so they leave without informing you of the spill. Mr and Mrs Smith, an elderly couple, stop in to buy a few things, when Mrs Smith slips on the oil, resulting in a very painful fall.
Later, at the hospital, it is discovered that she has broken her hip, and will require extensive surgery to repair the damage. Mr and Mrs Smith sue your business for the cost of the surgery and rehabilitation, resulting in a medical bill of many thousands of dollars.Without the public liability insurance, you would most likely end up bankrupt- unable to pay the bill, and forced to close your business.
As you can see, obtaining the correct business insurance, and the right amount of cover, is paramount to the survival of your enterprise. Many people have trusted in luck to keep them out of trouble, but no matter what the cost of being properly insured is, it does not compare to what you could lose if things go wrong!

Friday, August 10, 2012

Features and Benefits of Business Credit Cards

Owning a business requires making various purchases for supplies and other needed items. Making any type of purchase will be easier if you have a business credit card. There are many benefits to the use of a business credit card to make purchases that you need.

Track Spending
One feature that is beneficial to a business is the ability to track spending. A monthly statement shows a business their individual expenses and total spending for each month. You will not need to calculate the totals for each purchase as all the information is provided on the statement. A business expense report is sent to each card holder every month.

Separate from Personal Credit
Credit that is extended to a business is not ties to the personal credit of the business owner. This means that the credit for a business is issued based on different factors. Transactions on a business credit card will not affect the personal credit history of the business owner.

Positive Credit
Obtaining a business credit card will help to build positive credit for a business. A positive credit raring will aid a business if a loan is needed from a lender in the future. Positive credit implies that a business can be trusted by a lender. This is credibility that allows a business to expand and grow. Money may be more easily borrowed from lenders and from investors.

Reward Options
Most business credit cards offer some type of rewards program. Making needed purchases on cards that offer rewards means that they may build up fast. Reward programs may include discounts on purchases made for certain supplies, cash back, travel miles, and other types of rewards. Choose from the rewards programs that are available from a variety of credit cards before applying.

Employee Trust
Allowing certain employees to make purchases on a business credit card leads to increased trust. This is a great way to show appreciation and to delegate business functions to employees. You are able to give one or more employees authority to purchase business supplies or inventory that is needed for the business.

Track Employee Spending
Monthly statements that are provided by lenders allow a business owner to track employee spending. A statement can include categories of spending so you can see any non-authorized spending. You can also see if you have exceeded a monthly spending limit.

High Credit Limits
Business credit cards will often have higher credit limits than a personal credit card. A higher limit for a credit card used for a business allows greater purchase options. Many purchases made by a business are often expensive and can typically be paid back faster.

Ease of Use
Credit cards that are available to a business makes purchases much easier. A business owner can use the credit card online or over the phone. There is no need to write a check or pay cash. Transactions will be processed much faster than other payment methods.

Special Features
Insurance protection for travel and automobile rentals may also be available on these credit cards.

The articles of Ethan Grunt have been proving very useful for the customers who look forward to get information on business credit cards. He suggests them to visit for further information.