Securing a Business Loan

Published by admin on May 29th, 2013 - in Finance

World governments today continue to spur economic growth by means of providing business grants to entrepreneurs. However, federal grants for business have some great future consequences that might mean trouble for the entrepreneur. Lenders are still on task and willing about providing consumers a business loan. Here are just a few things you’ll need.

1. Credentials
Always have a hard and soft copy of your company’s credential, the proprietor’s credit report and score. Your company’s credentials include your balance sheets, accounting, business standing, stock value and profitability. Also, present the bank your future plans for business growth.

2. Business Growth Plan
Your business’ credentials are one thing, but your growth plan is also another. Banks need to hear what you’ll use the loan for and how soon could you pay them back. Banks are more concerned about the span of time you will need to repay your loan and the risk value of the loan itself.

3. Achievements in the Last Year
Your business achievements last year may not only reflect on the profits you make but also your company’s profile as a business in the industry. Industrial progress, including all those in the same market as you, may be taken into consideration in calculating your risk value for the business loan.

When Should You Invest in the Stock Market?

Published by admin on May 13th, 2013 - in Finance

They say that the stock market is a wondrous place to invest your savings in and that, saving your money in your sock or your bank is not the best option especially in these economically-trying times. However, some young and old retirees ask about the right timing to invest in the stock market. The definite answer is: anytime.

You might need to invest at least £750 to your investor’s account upon opening. Then, you could contribute the same amount to it monthly and then you could begin investing. £750 monthly is actually not a big amount; it’s just suffice to get you at least a few starting stocks in the process.

If you invest at a young age, you can find it more easier to learn about the stock market’s processes, namely purchasing and selling stocks, knowing how to read a ticker tape, studying risk assessments and values for different companies and knowing when to sell or buy a stock.

These might be as easy to study when you’re at your retirement, but starting early gives you opportunities to begin with your long-term investment goals as soon as possible. You might be saving for your child’s education, a new house or a retirement bond. Investing in the stock market enables you to take advantage of a smooth-flowing or heavily-fluctuating stock market.

So, if you have the capital now, invest as soon as possible. Don’t waste the time to allow your hours to turn into money and capital for your future.

Taking Care of Your Credit Cards

Published by admin on March 21st, 2013 - in Finance

A credit card can afford to increase your credit score or could drag you down in deep debt. Every card owner must take great care in using their card to avoid these situations. Here is a list of things that card owners should know to avoid high debt from their credit cards.

1. Keep a Notebook
By keeping a credit card notebook to tally all your purchases, card owners can manage their purchases without having to max out their credit cards. In the notebook, list the total credit limit you have with your card and the amounts you’ve purchased using the credit card.

2. Card Advantages
Credit card providers usually work with merchants and can afford you discounts on products and services in the process. You could also earn free items or shopping vouchers if you use your card and hit a certain price limit with the card. This can definitely save you tons of money.

3. International Usage
If you’re traveling, make sure to call your card company if there will be added costs to your credit card’s use abroad. Some card companies add an additional international fee. Many card users become indebted to their lenders because of this small carelessness, so be careful and stay ahead.

4. Use Your Money
Credit cards, especially high limit ones, have great financial power and can afford you a financial plan easily. However, it is much viable that you use actual money for the things you want and reserve the financing option for the things you need. When a customer saves money, they learn financial discipline and save themselves from a world of debt.

Personal Injury Claims: Pedestrian Crossing Accidents

Published by admin on March 18th, 2013 - in Law

Road traffic accidents are not limited to car and motorcycle accidents; these also involve pedestrians or bike riders crossing the street. If you get hit by a vehicle or a motorist and you’re a pedestrian, you could very well get compensated for your injuries.

In the United Kingdom, there are different kinds of pedestrian crossings and each one can affect a pedestrian’s personal injury claim.

A Zebra Crossing is a pedestrian lane with red and white parallel lines that warns motorists that pedestrians can cross at any time and even if within the speed limit, they must ensure care in crossing the road. Once on the crossing, a pedestrian has the right of way. Most pedestrian victims are unlikely at fault when using the zebra crossing.

A Pelican Crossing allows a pedestrian to cross the road but only using the stoplights. The pedestrian uses a button at the crossing to cross the road and stop the vehicles. Pedestrians should only cross if the green pedestrian crossing light is on. Motorists should give favour to pedestrians who use the light and the stoplights

Toucan and Puffin Crossings operate similarly to pelican crossings and they also allow cyclists to cross the road as well.

Pedestrian victims could receive compensation based on the facts but generally, drivers are held responsible in most instances. However, pedestrians could receive reduced compensation because of contributory negligence, but if the victim was a child, reduced compensation is highly unlikely.

PPI Claims: We’re Still Far From the Finish Line, Says Analysts

Today, the PPI bill is estimated to be above £13 billion as the Financial Ombudsman states that it is receiving at least 1,500 claims a day. Barclays announced an additional £700 billion for its compensation package to the entire United Kingdom. Lloyds is predicted to add at least £2.3 billion more on top of its £4.3 billion set aside for compensation claims. Analysts state that the United Kingdom is still far from the finish line for the PPI crisis.

Recently, FOS reached its 500,000th PPI claim from an elderly woman mis sold PPI as she was proven ineligible for the insurance policy. Analysts state that the number is still small, considering the greater scheme of things, in which millions may still be mis sold PPI and are awaiting the processing of their claims. However, as these are many claims, the PPI claims process continues to be “clogged up”

Banks blame claims management companies and the Financial Services Authority for the great amount of claims coming in every day. Claims management companies have focused on the ineligibility of customers for PPI and the Financial Services Authority asked banks to call upon customers potentially mis sold PPI policies and invite them to make a PPI claim.

The Financial Ombudsman chief ombudsman Natalie Ceeney stated that she expected the high number of claims to come in and the clogging process is not because of claims handling companies and the FSA, but mostly from banks. She states that banks are placing part of the blame to customers and that claims management companies show how far the customers mistrust their banks for their bad practices.

Essential Credit Recovery Tips

Published by admin on October 30th, 2012 - in Finance

You might think that your credit card brought you to bigger financial problems than what you already have, but it can actually help you get back to your previous financial status with proper use and management. Here are a few things to remember when trying to recover your credit scores.

1. Purchase Small Priced Items

The main idea of credit recovery is working with your card and keeping it “free” by purchasing items and repaying the entire bill by the end of the month. So use the card when doing grocery and ensure that you repay the card on time and in full.

2. Get Financing

Lower credit scores doesn’t mean that you can’t get any type of financing. It only means that you can get financing that have stricter details compared to what you could get with better scores. If you need some financing, you can get back your lender confidence by adhering to their strict financing rules using your card and repaying the entire loan easily.

3. Debt Consolidation

You can transfer your credit card debt and secure it with a collateral to lower its interest rates. That can enable you to repay the card’s bill easily along with your other debts in one full repayment. Debt consolidation companies can actually work for using your card in recovering your credit scores.

4. Work With a Credit Union

A credit union may seem to work like a bank, but it has limited items for customers and will need to choose customers who have a “common ground” with them. This means that if you’re a medical professional, you can work with a medical professional credit union. Credit unions have very affordable financing rates and they report straight to credit bureaus.

How Bank Professionals Deceive Their Customers

Any financial adviser or broker works on a commission-basis and you’re lucky enough if you pay a financial adviser a fixed fee and they don’t work for a commission basis. Commission means selling the higher-rated product can earn you a larger cut. This particular banking incentives system guarantees good compensation for the professional, but not for the customer. Because of this banking incentives system, many become tricked to purchasing higher rated products. Here’s a list of how bank professionals trick you.

1. Insurance

Bank professionals can always state that an insurance policy is a requirement to go along with a loan, mortgage or credit card. Because insurance policies have exclusions, insurance can never be used as a requirement. Sometimes, the bank professional can introduce the product as a “bonus” for your high credit score that you do not have to pay for 1 year or the insurance is “packaged” along with the product. These enable them to have you overlook the exclusions leading to a wrongly-sold item. In the United Kingdom, claims management companies (CMC) such as are the ones that help resolve payment insurance isses similar to this.

2. Credit Cards

Your financial adviser might tell you that your credit card is possibly your credit-rebuilding tool and this is actually true. The only problem is that they urge you to purchase the card to help you get the financing you need in the future, such as a mortgage or a business loan. The credit card will earn the financial adviser a higher cut in the commission but then, can you really make use of it even if you pay for the yearly membership fee?

3. Mortgages

Wrongly sold mortgages are common all around the United Kingdom aside from the payment protection insurance claims that and other reputable CMCs continue to help customers with. Mortgages are large financial commitments and your finance’s last line of defense against financial problems is solely your financial adviser. However, your financial adviser can decide to sell you short. They can push you to purchase a high-street deal rather than one that you can make use of just for commission, so be careful.