Friday, August 31, 2012

Mortgage Loans For The Self-employed: Making Home Purchase Possible

Everyone wants to buy a cozy home to live in, and everyone has the right too. But unfortunately what home can be bought depends on the mortgage that is deemed affordable. For many people with their own businesses, qualifying for a mortgage is a challenge, but mortgage loans for the self-employed are available to improve their chances.

The reason that the self-employed find it harder to secure mortgage loan approval is the lack of job security. A business can go to the wall, especially in these difficult financial times. But an employee does not have to worry about the same things, and are able to rely on their salaries more.

By providing the required documentation, it is possible to get the mortgage loan needed.

Criteria to Qualify

Because of the large percentage of the workforce that is self-employed, there are plenty of options open to that niche market. However, there is still a need to meet the necessary criteria to qualify for a mortgage loan for the self-employed. The criteria inevitably involves furnishing proof that the applicant has a business and that everything with it is fine.

The range of documentation is not that wide, but it is enough to ensure that everything is above board. Typical documents needed to secure mortgage loan approval include a business license, the business credit report and trading tax returns. With this information, lenders are able to ascertain just how secure the business is, and the level of debt the applicant already has on his plate.

Other proof required is that the income is reliable, that the applicant has been self-employed for at least 3 years, has no recent bankruptcies or foreclosures in the credit report, and proof of a down payment. Once these are confirmed, the chances of securing a mortgage loan are improved considerably.

Knowing Your Limit

Budgeting is hugely important when it comes to mortgage loans for the self-employed. And so it is a good idea that your limit is known before the application is submitted. The first step is to find out your credit score, and to check what effect it will have on mortgage terms like interest to be charged and the percentage purchasing price offered.

Efforts to secure mortgage loan approval may be extensive when going into this level of detail, however, the effort is certainly worth it. If the bad credit score is between 620 and 650, it will probably mean getting 65% the purchasing price. This means a down payment of 35%, or a second mortgage of that amount, is needed to push the purchase through.

Knowing what terms are around the corner allows the applicant time to put things in order before making the mortgage loan application. For example, improving the credit score to 680 could see 75% of the purchase price provided, or an excellent 700 ensuring an 90% financing deal.

Finding A Lender

Different lenders offer different deals, so finding a lender that offers a mortgage loan for the self-employed that has low interest rates and good repayment terms can require some searching.

Efforts to secure mortgage loan approval generally involve making concessions, but that is not to say that any terms should be accepted. A basic decisions is to choose between fixed rate and variable rate mortgages. A good lender will be able to advise properly on which is the most suitable option given your circumstances.

It is also worth considering options like a shorter term (15 years), or a mixed variable and fixed rate deal. Whatever the options, however, make sure it fits your mortgage loan budget, otherwise it could spell financial disaster.

Monday, August 27, 2012

5 Tips for a Less Stressful Busy Season

A good deal of CPAs develop a range of feelings about those crazy months leading up to April 15. They appreciate the hefty revenue that's part of the deal, which can support their practice for the rest of the year. Regrettably, too many ignore their accountant websites and other important aspects of the firm for months on end, and they completely give up on staying healthy. In spite of the extra money it brings, ironically, busy season can sink an accounting practice.

Check out how shrewd accountants maximize the profits of busy season while minimizing the stress:

1. They Invest in accountant websites That Do the Grunt Work for Them

During busy season, time is money. Taking precious time to file paper returns and fix broken printers slows accountants down - and ultimately equals less revenue.

To cut down on needless waste, smart CPA firms choose accountant websites that are loaded with time-saving tools and features. The following website features take care of a lot of the grunt work that can slow down a CPA during busy season:

- Secure file exchange

- Electronic tax prep forms

- PayPal or another credit card processing program

- Automated newsletter

- Frequently asked questions page

- Map and driving directions

2. They Update Their Accountant Websites BEFORE Busy Season Hits

One of the greatest contributors to stress is a disorganized work space. Paper piles and file stacks can easily overwhelm desks and surrounding areas when work load is at its peak. Important documents can get lost in clutter mountains leading to angry clients.

Accountants who prepare for busy season before the first of the year are more relaxed and more effective in their client work. These CPAs get their accountant websites all set to go, clean off their desks, and generally declutter their space. And they're careful to "hibernate" any projects that can wait until after April 15th by placing them out of the way where they won't add to the general chaos.

Once work starts coming in, it helps to spend a couple minutes at the end of every day to tidy up the office. Folks who do this report feeling empowered and well-prepared for the next day.

3. They Let Go of Dead Weight

All accountants have clients who trigger ulcers when they walk through the door. They complain, haggle over fees, even leave nasty comments on firms' accountant websites.

It may be hard to do, but it's okay to fire obnoxious clients, and smart CPAs terminate these relationships. The time accountants waste dealing with these troublemakers is better spent working with the clients who are easy and problem free.

4. They Know When to Ask for Help

Think of all the time-consuming, administrative tasks accountants perform each day: e-mail, processing and filing returns, updating their accountant websites, sending out client reminders, answering phone calls, etc. Wouldn't it save time to hand all this off to someone else?

Busy season is the perfect time to hire interns. Many interns are fresh from schooling and more than happy to get real-life office experience. It's a win-win situation that can greatly diminish CPAs' workload.

5. They Aren't Married to the Job

During busy season, many accountants work 10, 12, 14 hours a day - or more. But not all of them. The most successful CPAs set boundaries for themselves.

Take a page from their playbook. Instead of burning the candle at both ends, set a fixed time at the end of the day when you power down your computer and go home no matter what. A few more hours of sleep will greatly enhance your mood and boost your efficiency.

And remember to tell your clients that you can't work miracles. They should know that they MUST hand in their materials by a particular date or you'll be filing for an extension on their behalf. End of story. Don't let a client's procrastination be the cause of a panicked rush on April 14th.

This year, try out some of these tips - and most important of all, make your health and well-being a priority. Once a week, forget about accountant websites, tax organizers, and dissatisfied clients - and relax. Go to a some live music, draw a bubble bath, or make a date with your pals. When you do, you - and your practice - will come out of the busy season much better off!

Saturday, August 25, 2012

No Down, Little And Low Down On Used Semi Trucks, Big Rig And Over The Road Trucks, Special Financing Program

In today's used semi truck, big rig and over the road trucks market, there are special financing programs that require no money, little and low money down to commence a financing arrangement. This one special program is in the South East part of the U.S and will do this for qualified applicants for a 0 documentation fee

Here are the requirements below for the semi truck financing program..

1) Minimum Credit Scores start as low as 550 however the higher the better to qualify for this program
2) A signed and dated lease application
3) Summary page of your last three months personal and/or business bank statements
The more money showed in the account at the end of each month the better
4) A hauling reference showing who you will lease on to or proof a good solid contract to prove income
5) No outstanding child support issues on the credit report
6) If there is a bankruptcy, it should have discharged three years or longer and proof of re-estabishing credit
7) Home ownership is a plus but not mandatory
8 ) No way of line debt ratios and/or line items on the credit that will cause a problem
9) No outstanding tax liens..

This dealer/lender has over 200 semi trucks, big rigs and over the road trucks for sale. These semi trucks are ready to go and the process to get approved is fast. Prior years tax returns are not usually required but a working spouse can only help support the income base to assume new debt.

The semi trucks that the qualified dealer has are from 1999 to 2008 and include Peterbilts, Kenworths, Freightliners, Volvos, Macks and Internationals..

The dealer/lender will work with startups and understands that each situation stands upon its own merit with its own story
If you are interested, contact me at 800-760-6863 or email me at

In addition, this dealer/ lender has over 100 trailers as well to go with the semis..These trailers include reefers, dry vans, low boys, drop deck, end and bottom dump, and other various trailer models.

If you don't qualify for this special financing, other dealer truck programs are still available to you. We even have a no credit check program that starts with a down payment with a special easy lease application... Call for the Details....

Happy hunting for your semi, big rig and over the road truck financing.

Tuesday, August 21, 2012

The Successful Entrepreneur Jack Simony And His Achievements

Co-founder of the Whitehaven Financial Group, Jack Simony was educated at CUNY Brooklyn and Oxford University. Moreover, this famous entrepreneur likes doing charity work, travelling, and fencing besides concentrating on the different areas of his business. Jack Simony has also made himself involved with different organizations such as the New York Athletic Club and Army and Navy Club, thus helping us know the interests of this famous businessman. Taking out time from his busy schedule, Jack Simony is also interested in writing blogs, where he puts forward his views on various topics. Therefore, we can know that besides being a thorough businessman, Jack Simony is also interested in various other things in life.

Jack Simony's company, the Whitehaven Financial Group, is a reputed and recognized litigation finance firm located in the city of New York. The HRAI or the Human Rights Advocates International has awarded Jack Simony the Defender Award for helping many individuals with his hard work and dedication. The HRAI is a U.S based non-governmental organization that works for the protection and encouragement of the human rights and the award is given to individuals who worked hard and have helped people in need. According to the HRAI chairman Gerard I. Nierenberg, Jack Simony has devised unique ways to help those in need, also meeting the needs and demands of the Wall Street, thus creating a scenario they had been looking for. Jack Simony has also been praised for finding creative financial solutions, as well as caring for the less fortunate.

Shorex, the world leaders in organizing wealth conferences for individuals with high net worth along with their professional advisors had chosen Jack Simony as the keynote speaker this year. Jack Simony is considered as a pioneer who has achieved huge name and recognition in the financial services industry. Moreover, this famous entrepreneur has an excellent track record in the field of litigation finance for more than 10 years and is recognized as one of the topmost industry leaders.

In the present day, Jack Simony is the CEO of DVG Capital and prior to that he worked as portfolio manager at Centurion/Platinum funds, a New York based company that invests in asset-based strategies through a managed account platform. The firm mainly concentrated on traditional ways of financing that includes litigation funding, warehouse loans to consumer finance companies, secured trade financing, and debt instruments. Jack Simony co-founded the litigation financing company, the Whitehaven Group in the year 2001 and served as the Chief Executive Officer of the company till 2008. When serving as the CEO of the company, Jack Simony mainly concentrated on the vision and the litigation funding goals. He handled the various aspects of the company such as operation, acquisitions, business growth and development, maintaining media and corporate relationships responsibly and with due diligence. It is good to know that the Whitehaven Group under Jack Simony could reach new heights of success and achievements.

Before co-founding the Whitehaven Group, Jack Simony was a partner with the Knightsbridge Equities, a trading company offering capital and technology to professional traders, hedge funds, and family offices. This famous entrepreneur has also worked for the Human Rights Advocates International NGO. His contribution to the society has made him a popular figure throughout the world.

Tuesday, August 14, 2012

Loans Against Car Title: Get Speedy Cash Aid Against Your Car Title

Nowadays people get into cash crunches at any point of time due to the sudden entrance of emergency in their respective lives. Due to having lack of finance in their checking account you might just incapable to deal with the demand of exigency on time. At such time only your car can save you. Wondering how? This has made possible by loans against car title. Yes you can now entail speedy cash assistance for your unexpected needs against the title of your car without facing any obstacle.

Therefore, Title Auto Loans have become a perfect tool among many people who are looking for cash aid instantly. These loans are best to avail at the time of urgency and give you a great chance to utilize the loan money for meeting with many urgent cash requirements. This includes pay for child's school or college fees, home rent, medical expense, bank overdraft, credit card dues, car repairs and other short term needs.

For the approval of loans against car title you have to qualify on certain grounds. For that you must be an adult with 18 years or above, you must hold a valid healthy bank account, your car must be insured, your car must be clear from all monetary claims and you must have proof of owning a car.

Depending upon the financial value of your car lenders may decide your loan amount and you have to repay the loan money within a short period up to 1 month. The interest rate for these loans could be from 8% to 12%.

Apply for loans against car title with the ease of online medium. Online application method is flexible, smooth, fast and hassle free. There is a fierce competition between many reputable online lenders, which varies their interest rate. To get a lower interest rate deal a thorough research is required.

auto title loans provide you full freedom from faxing hassles, lengthy paperwork transaction and also there is no credit check process. This may turn your loan approval quicker by the lender and the funds would be directly and conveniently supplied in your bank account within short time span.

Saturday, August 11, 2012

Plan Your Monthly Personal Budget Using Excel Spreadsheet

Plan your monthly personal or family budget without help from any tools should be a difficult task for you. The easiest way to plan your budget is to use help from Microsoft Excel. Use the following steps to create your own personal budget in excel spreadsheet :

1. Write down your daily expenses in one month period
Create four columns and label them with name "Date", "Description", "Category", and "Amount". Start filling the columns with your daily expenses. You can write any description for your expenses. Categorize it based on your defined category, and fill the amount of that expense.

2. Summarize your expenses
Create new columns and summarize your daily expenses into category where you have to use excel function to sum your daily expenses based on their category. Name the new columns with name "Category" and "Expenses". You can create it within the same spreadsheet or in separate spreadsheet.

3. Add budget column
Add a new column next to Amount column in step 2, and label it with name "Budget". Fill your "Budget" column with the same amount with "Expenses" column.

4. Subtract your monthly income with budget and expenses
Sum the total amount of your "Expenses" and "Budget" columns. Create new rows below "Budget" column, and label it "Income" and "Saving". Input your monthly income, and then in "Saving" cell subtract Income with total amount from "Budget" column. If the result is positive, you can use your expenses as your budget reference. If it is negative, you need to adjust your budget where you think you can save the expenses of that category, and try to commit on this budget on the following month.

You can follow those steps above to simplify your monthly personal budgets, or you can also find some personal budgets created in excel available in internet to ease your plan.

Thursday, August 9, 2012

Getting Over Your Break Up The Five Steps Of Recovery

Just as there are stages of grief when mourning someone who has died, there are also steps that must be taken when getting over a break up. One woman whose first husband died and second husband divorced her said that it was actually easier getting over the death of a husband than it was recovering from divorce. That is because there's societal support when someone dies, but you are supposed to go about getting over break up on your own.

First: You should do is sit down and write a long letter to your ex. Pour out your heart. Share the experiences you had together. Tell him or her why you loved them. Put on paper how you feel about the break up. Call them names. It's okay to emote in this letter because no one is ever going to see it. That is because you are going to light a candle and burn the letter over the candle's flame. There are not many rituals that go along with breaking up, but this one can help you on the road to emotional recovery.

Second: You need to arrange to exchange stuff. If you have been in a relationship of any length, you probably have some stuff of his at your place and he's got your things at his. You probably want much of this stuff back and he or she is equally eager to get theirs. Work out a time for a mutual exchange.

If there are things of your ex's that aren't going to be exchanged, either box them up or throw them away. Don't leave your ex's toothbrush lying around the bathroom because it will only remind you of them as you are trying to go about getting over the break up.

Third: It is also a good idea to box up any gifts your ex gave you for a time. Wearing a watch that your ex gave you will make you think of them every time you check to see what time it is. That's just not a good idea when getting over a break up.

Fourth: There are sometimes financial matters that need to be straightened out when getting over a break up. If you owe your ex money, try to either pay it off from your own funds or get another loan to pay it off. If you have a checking account together, work out how you are going to divvy it up and then go to the bank to close it.

What you should be seeing is a pattern of closing out the parts of your lives that you shared. This is essential to getting over break up.

Fifth: After you have done what is necessary, agree to have no contact for thirty days. This will allow you to start building separate lives. You shouldn't call, text, email, or meet the other person during this time. You may even want to agree that some places such as a specific bar or even a given church belong to one party or the other during this month long period.

After you have had time to begin building a separate life, you will be able to interact more normally once again. This is a difficult time, so give yourself the space you need in order to go about getting over a break up.

Getting over a break-up, even an amicable one, can be a lonely road but you just have to get through each step and each day one at a time.

Monday, August 6, 2012

Loans for people on benefit: Easy fiscal support to fulfill the requirements

For the benefits of physically or mentally challenged people the government of UK have been introduced various financial plans. Under which they are monthly getting financial aid to spend their livelihood properly. But, sometime this finance is also not sufficient to spend their life properly and we need some external financial aid. After analyzing this requirement of the people lenders have introduced loans for people on benefits. With assist of these loans they can simply avail the financial aid for any of their requirements.

To avail the funds approval with loans for people on benefit people need to fulfill certain pre-requisite norms that can be as follow:

? Your age must be at least 18 years ? Getting monthly financial aid by DSS ? Have valid bank account that must be at least 3 month old. ? Primarily, have citizenship of UK.

Loans on benefits are quite valuable financial scheme for the bad credit borrowers as they can easily get approved for the financial aid. While approving the funds lenders do not held any credit check process. Thus, anyone can apply without any hassle and delay.

These loans can be accessible in both ways i.e. secured and unsecured. You can select the option as per your need and financial status. For major cash aid you must consider secured option and grab funds varying from 5,000 to 75,000 for the term period of 5-25 years. Though, you need to pledge something as collateral against the amount.

On the contrary side, to financially assist the tenants and non-homeowners unsecured option is also available. No security pledging is desired and avail funds in the ranges from 1,000 to 25,000 for the reimbursement period of 1-10 years.

Presence of World Wide Web makes the application procedure quite easier and faster. Lender may only ask you to complete a single online form with basic details that may include name, address, email id, contact no, employment, bank account etc. He'll check your application and if find everything perfect the cash will electronically transit in your bank account. So, being disabled people avail quick cash without any hassle and delay.

Sunday, August 5, 2012

Bankruptcy And How To Purchase A Car If You're Still In It

Bankruptcy! It's a negative word that is charged with a lot of adverse emotions and carries a defeatist attitude.

And, it's even worse if you find yourself needing a car after filing bankruptcy.

Contrary to a lot of information available on the Internet, you can purchase a new car while in bankruptcy.

There are some new car dealerships that have programs to get you into a brand new vehicle.

I don't suggest that this will be an easy task by any means. The first thing that you will need to do is to discuss this with your attorney. If he feels it is a good idea and advises you to go for a brand new vehicle you will need the help of your bankruptcy trustee.

A bankruptcy trustee is someone who is appointed to your particular bankruptcy case once it reaches the judicial court system. This is the person that draws up an estate which depicts all your debts along with a list of your total assets.

This estate gives a true picture of your financial portfolio. Your attorney and the trustee use this estate to help direct you on how to move forward from the bankruptcy by improving your future borrowing abilities.

If together your bankruptcy attorney and the estate trustee feel it is a wise decision to find a program that will get you into a brand new vehicle, you are ready for the next step.

In order to obtain a new car, you must have a letter of permission from your bankruptcy trustee. This letter will be filed with your legal bankruptcy portfolio for the judge to review.

In addition, a copy of this letter of permission will be presented to the salesperson and then sent on to the bank who borrows you the money for the car loan. Now you are ready to begin looking for a dealership who will grant a program for a new car purchase while in bankruptcy.

Most dealerships do not offer programs for those in bankruptcy so you may have to search extensively before you find one that can help you.

Before You Proceed Any Further - Stop And Ask Yourself If A New Car Is A Wise Choice

Under the circumstances, I feel I would be careless not to ask you to pause and ask yourself a question. Do you really need a brand new vehicle? Since you are experiencing a bankruptcy to help clear up extensive debt, there may be a better option available.

This option would be to buy a quality used car while in bankruptcy. This could have great advantages to you and your pocket book, as well as your new monthly budget.

The first and biggest disadvantage is the depreciation that happens with a brand new vehicle. Everyone knows that a new car drops in depreciation like a rock as soon as you drive it off the dealer's lot. With most new cars you lose anywhere from 3 to 50 percent depending on the make and model of vehicle you buy.

New car bankruptcy programs can cost you more money too.

Take A Look At These Reasons For Buying A Used Vehicle Before You Decide That A New Car Is Your Only Answer - You May Be Surprised At The Savings

A used car can literally save you thousands over a brand new vehicle.

This leads to the next advantage of a used car, which is lower monthly payments. Lower monthly payments will allow you to responsibly pay the loan back on time which will improve your credit score after bankruptcy.

The Bottom Line Is...

...there are more programs available for those going through bankruptcy for quality used vehicles than there are new ones. You will have an easier time finding financing for a used vehicle and this will save you unnecessary headaches while you are going through the process of bankruptcy.

Arriving At Johannesburg Airport, What To Expect

If you are arriving at Johannesburg OR Tambo International Airport by air, you'll find yourself 14 miles east of the city centre. Johannesburg OR Tambo International Airport is currently in the process of a complete refurbishment but still provides efficient customer service and top-class facilities to match any international airport.

The airport has six different terminals. Only three terminals are actually in use for passengers and include the Transit Terminal, International Terminal and Domestic Terminal. Most of the Transit Terminal has been torn down to make way for the new Central Terminal. The new terminal is expected to ready in 2009 and is part of the big push for the FIFA 2010 World Cup finals. The new Central Terminal will be home to a travellers' check-in area, more gates and will have an indoor link between the International and Domestic terminals.

At the moment, there is no covered link between the two terminals and passengers are required to make the 5-minute outdoor journey along the main exit road to change terminals. Hawkers line the route between the terminals offering assistance with luggage and are very persuasive. Their service isn't free and it is up to you how much you want to pay them.

Inside the terminals there is any number of facilities including all the usual suspects; bureaux de change, cash machines (ATMs), gift shops, restaurants, duty-free stores and curio shops. Johannesburg OR Tambo International Airport does however have something a bit different in the form of a chic cigar and wine lounge once you pass through security. Here you can get light snacks, beers and cocktails. The lounge looks like it's reserved for first and business class passengers, but anyone is permitted to use the facilities.

Both international and domestic flights arrive at Johannesburg OR Tambo International Airport, with a high volume of passengers using the airport each day. The airport is also used by all the major carriers as well as some minor ones.

Outside the International and Domestic terminals you'll public transport options that will take you into the city of Johannesburg. Transportation to places farther afield such as Kruger National Park is best done by hire car. There is a range of reputable car rental firms represented at Johannesburg OR Tambo International Airport, with booking online in advance being the best way to secure the vehicle of your choice.

There are a range of parking options on-site at the airport including short-term, long-term and valet parking lots, in addition to drop-off and pick-up zones for those who don't want to pay for parking.

Business passengers are very well catered for at Johannesburg OR Tambo International Airport. The airport has a state-of-the-art business and conference centre in the Arrivals Hall of the Domestic Terminal. These conference and meeting rooms can accommodate up to 10 people and can provide a range of food and fax, telephone, internet and secretarial services.

Thursday, August 2, 2012

Describing What A Hedge Fund Accountant Does

Unless you represent your company's pension fund, or are an extremely wealthy individual, you will not be eligible to participate in a hedge fund or need to select a hedge fund accountant. You still may find the need to comprehend how a hedge fund works if you are searching for a better understanding of how your company's pension fund functions. A hedge fund manager handles an actively traded account or fund, on behalf of a group of individuals. Shares in the fund are purchased by investors wishing to get involved in the fund. Typically a hedge fund manager will also buy shares and participate in his own fund. The managers fortune and his clientele, are tied together.

How the hedge fund operates is what sets it apart from other funds. As an example, a mutual fund is designed to be stable with constant, modest return on investment. A mutual fund, just like a hedge fund, is open-ended, meaning money may be withdrawn and deposited throughout the participation. By investing in reliable, positive-growth companies, utilities as an example, a mutual funds principal grows. A mutual fund purchases stock only, and it does not engage in short sales. If a mutual fund is more aggressive they may look to target higher growth organizations, in the technology sector for instance and gain a slightly higher return for a slightly higher risk. The problem with a mutual fund would be that it will generally generate losses in a recession. The retirement accounts based on mutual funds this decade have taken a huge hit due to the economic downturn.

In contrast, a hedge fund runs very diversely. The hedge fund has the freedom to not only purchase stocks long, but to sell stocks short in the instance of an economic downturn. Irrespective of the state of the economy, hedge funds usually have a positive return on investment (ROI). As the basic law of finance says, with the hedge funds higher return rate, always comes a higher risk. The use of the shorting strategy is part of the hedge funds higher risk. When an investor buys long, they will never lose any more than their financial investment. However, when an investor buys short, he can lose a lot more than his investment and actually obtain a debt. The expertise for controlling this risk and properly forecasting economic growth and downturns is much more difficult than just choosing high-growth companies. For this reason it is so important to examine the credentials for any possible accountant for the hedge fund.

Another tactic used by a hedge fund broker is leverage. Leveraging happens when you purchase a certain stock for only a fraction of its actual worth. The stockbroker makes up the difference, expecting that the stock price will not deviate enough to threaten his participation. The ratio of the value of the stock to the level of the investment is definitely the leverage. If the leverage had been 2:1, then a growth in stock of 1% would yield a return on investment of 2%. It is also possible for a hedge fund manager to work with a 10:1 leverage or higher. This gives them the opportunity to realize huge profits. It also signifies that there is a real risk of huge losses.

There are two things that investors use to qualify an effective hedge fund accountant: long-term ROI and draw downs. 20 years is a good time horizon minimum amount. In that time, you can examine the ROI from start to end, in other words, the present day return on an investment made and held 20 years ago. It's also wise to watch negative deviations from a straight upward line of growth. These deviations are referred to as draw downs. The account is recognized as a substantial risk if its draw down is more than 20%

To truly learn about hedge funds, one must do far more research. However, this information will get you started in understanding basic hedge fund operation.

Wednesday, August 1, 2012

Pawnshop, Payday Loan, or Title Loan: What's Right For You?

In the current economy, many people are faced with low credit scores that inhibit their loan options. Without a strong FICO score, very few options are available for those in need of a loan or line of credit. This leads a lot of people to seek out the options that are available: namely, pawnshops, payday loans, and title loans. Although all of these options provide fast cash without a credit check, they are not the same. It is wise for consumers with low credit scores, who are already in a fiscal bind, to thoroughly research the limited options that they do have and to make an informed decision based on what is the best possible service available for them.

Pawnshops are an option often utilized by those with poor credit. At a pawnshop, an individual can obtain a loan for collateral, meaning that the individual provides the shop owner with a valuable item in exchange for money. The amount of the loan exchanged for the individual's item is usually only a portion of the item's monetary worth, not to mention any sentimental attachment associated with said item.

If the borrower cannot repay the loan, the pawnshop gains ownership of said item, potentially costing the borrower the actual value of the item. In such a case that the borrower cannot repay the debt, the loan is forgiven, but the item is also lost. Since the item is worth significantly more than the loan, the borrower can potentially lose a lot of money if a loan cannot be repaid. Thus, anyone utilizing this service should make sure that the loan can be repaid prior to pawning any item. Like all loan lenders, pawnshops charge high interest on their loans, making it a less appealing option for the frugal minded.

A payday loan is a solid option for people who don't have great credit but do have steady employment. Based upon one's income, payday loans are granted in small amounts for short periods of time. Because the loan amount is small, it is more manageable to pay off when the time comes. Like pawnshops, payday loans have high interest rates.

Unlike pawnshops, however, no collateral is required for this type of loan, so the borrower is not at risk of losing valuable items if unable to repay on time. Needless to say, a borrower should always repay on time, regardless. Additionally, reputable payday loan lenders are also government regulated, meaning that the borrower can be sure that contracts will be upheld to a higher set of standards. A borrower should always read reviews and research loan lenders prior to borrowing to confirm their reputations and terms.

Title loans are another option; yet, in order to obtain a title loan, a borrower must own their vehicle and be willing to offer said vehicle as collateral should the loan go into default. This means that one's car, which may be the source of one's livelihood, is potentially at risk if the loan isn't repaid. If a borrower needs a large loan, title loans may be the way to go, as they offer bigger loans than their payday loan or pawnshop counterparts. On the downside, a bigger loan means more to pay off and they do have extremely high interest rates, making them difficult to pay in full.

All in all, payday loans are generally the best bet for small loans, but, depending on one's situation, another option may work if treated responsibly and paid off in full.