Online Lenders Can Offer The Right Bridge Between Paydays

Every now and then, unforeseen expenses crop up and leave us on unsure ground. Luckily, online lenders can help you. Using advanced technology, these companies successfully match customers with suitable loans, helping you bridge the gap between paydays. However, there are a few benchmarks you need to keep in mind before you make any final selections about the company you’ll be dealing with.

The online application process is designed to be quick and straightforward, and a lender’s decision can be delivered within minutes of receiving the loan request and verifying the application information. In many cases, funds can be deposited into your account on the same day, or the next business day, so you can deal with your financial situation without delay.

Short-term online loans can be the right type of bridge when you need to pay for an urgent car repair, a medical emergency, or some other type of personal expenses that just can’t wait until next payday. There are many reasons to consider a loan to help with immediate expenses. For example, applying for an online loan to pay for an overdue utility bill can help avoid having to pay late fees, penalties, or the risk of disconnection. Meeting your financial obligations on time can also help improve your credit score. Usually, repayment of the loan in full is automatically deducted from your bank account on your next regular payday so that the entire process is completed promptly and efficiently. People who need to borrow funds that come with a longer repayment schedule may be better suited to the online lenders that offer lines of credit.

When you investigate the website of reputable lenders, you’ll find they’re very direct about the services they provide and strive to make it easy to access information about how the procedure works, how the loan is repaid, and the way interest and other charges are calculated on the amount borrowed.

In addition to offering the option of convenient online loans, ethical lending companies like MoneyKey exercise responsible lending practices so there are no hidden costs, and customers are not encouraged to take out loans they can’t afford to repay on time. Making sure the application and loan sourcing methods are explained in simple language allows the borrower to clearly understand the lender’s requirements so there’s less risk of getting into financial trouble. Repaying the loan on time establishes a good relationship with the lender so you’ll feel comfortable using their services again.

The best of these companies will explain how much money you can borrow, the cost of borrowing, and the time frame for receiving and repaying the borrowed amount. Because you probably need the money as soon as possible, a firm that offers a simple online application, a speedy approval process and a same-day deposit is a sign you’ve found a company committed to providing customers with transparent and reliable lending services.

When you need a loan for a short period of time, or even a line of credit, it’s important to find a place that allows for flexible repayment options and great customer service. Taking the time to research the characteristics of a professional lender will make the process run more smoothly, and get your slippery financial situation back on solid ground!

This is a guest post

Which online lenders do you use?

Credit Card Convenience Has a Catch

ccI remember nearly 25 years ago a friend dropped me at a car rental at Orlando Airport. I wanted a car to go down to Miami; I was flying to Cancun in Mexico later in the day. I was asked for a credit card. I said I had plenty of money and would pay cash. I didn’t have a credit card even though I had been working for many years by then. Cash was not acceptable initially until I showed them my airline ticket. I got the car with a warning that if it was not returned to their Miami office by a certain time the FBI would be on my tail.

The reason seems obvious now. A credit card was a combination of identity card and the company’s insurance that I was not going to drive off over the USA a bit like Thelma and Louise did in the film of the same name. There are many questions relating to how people use credit cards and what benefits they have brought to their users and the companies that accept them for payment. The answer to the question pre-recession is certainly different from the one that many would give today. Credit Card Companies were throwing credit around before the recession came, and lots of people were happy to take it.

Things have changed. Cards are still very convenient, but used irresponsibly can still create all kinds of problems for their users. Many people use to have a number of credit cards and spent up to their limits on each; they simply got another and paid the minimum monthly amount on those where their credit was finished. The minimum rarely knocked anything off the outstanding balance when interest was added.

While a consolidation loan could sometimes pay off the balances often, they merely added to the amount of money people were spending each month to keep afloat.

Financial institutions often looked at students as their future customers and offered incentives for them to sign up for a credit card. Suddenly they had something on their hands that they could use to spend on anything they wanted up to the approved limit. The problem was not confined to young students; everyone was tempted and generally everyone was accepted and given a card.

Things have changed, but there is still a level of temptation with that little piece of plastic. There are some rules that everyone should follow for getting the convenience of not having to carry cash. Most are obvious but often forgotten. A credit card is not free money; interest will be charged on outstanding balances making that bargain purchase more expensive than it seemed.

Anyone signing up for a credit card needs to use it sensibly and know exactly the terms and conditions under which the card has been issued. It is essential that the card is used in such a way that the convenience is a definite advantage, and there are no downsides. It is important that users are never late with their monthly payments and that the expenditure that is going on to the card is included in any personal budget that the user is supposed to be following.

Budgets that are artificially supported by a credit card are quite dangerous. Everyone can meet their monthly bills while building up an increasingly large balance on a credit card. The day of reckoning will come in the end, and it will not be pleasant.

I got a credit card shortly after my Orlando experience; it is convenient, but it demands discipline.

Steve Smith is a retired financial director living on the wonderful Turquoise Coast of Turkey. He has seen many wonderful places in every Continent of the World.  He is a Graduate with Honors and since retirement has been writing professionally for a range of business clients either side of the Atlantic for four years.

Picture by Tax Credit

This is a guest post

If Tax Problems Arise, Turn To A Qualified Tax Firm

A man doing his taxes using a calculator and pencil on a white background

Taxes can be quite complicated and can easily lead a person astray. No one is spared the stress or confusion that comes with filing taxes. There are so many small details that it can be very difficult for a person to try to file their taxes or solve tax problems on their own. Luckily, there are professionals who are trained to do just that. A tax firm is a diverse company employing a wide range of professionals.

There are accountants, tax specialists, as well as lawyers. This is why the bigger tax problems are best solved by firms. Accountants and tax preparers do not have the same access to lawyers that these tax firms do, and this access gives tax firms a unique perspective.

The CRA has a department working very hard at finding people who slip through the tax collection cracks. Over 25 million Canadians file taxes every year, so this is an especially large and complex job. People who don’t pay their taxes and people who earn unreported income are two of the biggest problems they face. Over $35 billion every year is earned and not reported to the CRA. Steep penalties and possibly harsher punishments are waiting for those who avoid compliance with their taxes. There is a silver lining to this, though.

It can be stressful to deal with problems like audits, unreported income, overdue tax debt or being in arrears. The CRA can garnish wages or other income, put a lien your house or other property, or even press criminal charges in extreme cases. But it is never too late to try to set these problems right. Firms are especially handy in these situations because of the lawyers on staff. They can help understand what might happen from a legal point of view.

If filing taxes for a person is difficult, then filing taxes for a business can be a nightmare. There are all of the problems that exist with individual taxes, with additional problems that might arise because of the business aspect. There are several kinds of business taxes that must be paid, including the GST/HST for some businesses. It can be a maze to try to navigate through the tax system – from knowing how to correctly handle payroll and the various different kinds of payroll taxes, to knowing whether certain supplies or services are deductible business expenses. Small businesses, especially, who cannot hire a dedicated accountant but still must abide by the same tax laws as big businesses, can find the help they need from a highly knowledgeable tax firm such as Tax911, which can provide you with all the help you need regarding tax preparation services in Canada (visit their website for more information). In many cases the CRA will waive any penalties and extra fees if a taxpayer makes a voluntary disclosure and steps forward to correct their mistake before the CRA has discovered it.  One of the best ways for dealing with tax problems is to get ahead of the situation, and the best way to do that is to go to a tax firm to devise a plan.

Tired Of Corporate Banks? Try A Credit Union

family-saving-money-in-piggy-bankFor hundreds of years, banks were the way to do business when it came to saving money, investments, loans and lines of credit. For many years, this worked. However, consumers are now demanding more for their money and this goes for the banking industry as well. A credit union offers many of the advantages that consumers are looking for.

But what are these benefits? If you want to understand what credit unions offer in comparison to conventional banking, you need to understand their structure. These organizations are usually set up as not-for-profit enterprises and are seen mainly as cooperatives. Just like any other co-op, the members put the resources in and take all of the resources out. Credit union members all share in the profits and resources of their organization. While it’s an unusual foundation for a bank, the members find that they play a more active role in the financing and handling of their own money.

This structure usually results in several advantages for a member, including higher interest rates on savings accounts and sometimes even checking accounts (they’re usually referred to as dividends), lower interest rates on loans and the possibility for micro-loans. Geared to the personal needs of the individual consumer, credit unions focus on the client to get the services they need with the lowest possible fees.

Another advantage that credit unions have over banks is that they are focused on more than profits. Banks are usually corporations, which have millions of shareholders. These shareholders are the owners of the business and get paid accordingly, through stock or cash dividends. This means that any profits that the bank does not retain goes directly to their shareholders and not to their customers. Credit unions do not have shareholders, which is why they are a better option for independent consumers. Their customers are their members, and all of the profits they gain are given back. This is why most credit unions can offer very competitive rates and have extraordinary customer service. They’re unique that way, especially when compared to major financial institutions.

Credit unions are also very involved in their communities. They realize that their members are their owners, so they are invested in their interests. This means they always try to get involved with food drives, runs and walks for the cure and other great causes in their communities. Many credit unions often give very generous donations, showing that they truly care about the communities in which they were founded. This “local is best” mentality is another common denominator when determining why customers leave banks and move their assets to a credit union. If you live in the Ontario area, Pace Credit Union offers 14 locations across the province with a focus on community-building.

According to the Credit Union National Association, membership rates have increased to over 100 million users and continue to grow every day. As people realize they can get better rates and more friendly service at a credit union, they are switching to the best alternative to banks.





The Importance Of Having A Back Up Plan

Recently, a well established British company called its nationwide sales staff for an unplanned meeting and fired most of them as soon as they arrived without any warning. A lot of those who were fired were devastated and reportedly returned home in tears. Apparently, they didn’t have a backup plan because they had never imagined something like that would ever happen to them. This incident shows how important it is for everyone to have a backup plan in these economically uncertain times.

So what is a backup plan? Basically, it is a plan for an alternative course of action in case things do not go your way. It gives you something to fall back on and a chance to start all over again or to give your life a completely new direction. It ensures that you will not have to end up in the streets or hand over your children to foster care in case you lose everything you have. It makes sure that you will have enough to feed your family, pay your monthly bills and repay your debts.

Here is a backup plan (or Plan B) that you could use as a model for your own backup plan if you lose your business or job:

  • Save a portion of your income for a rainy day: When times are good, make sure to set aside a portion of your income for a rainy day. Having enough money to pay your bills and your debts makes life more bearable in times of hardship. If you have large enough savings, it gives you something to restart your life with. I would say 6 – 12 months worth of expenses.

  • Practice living within a budget: When money is flowing in, it is easy to get carried away and spend extravagantly. But you should never forget that good times do not last forever and there may come a time when you will have to count your pennies, so create a monthly budget and learn to live within it. It will help you to make a painless transition into a life of reduced income.

  • Invest in a side business or find a part time job: If you have some money or an additional skill, invest in a side business or find a part time job. Having an alternative source of income, however little it may be, makes the prospect of suddenly becoming unemployed less bleak. With a business or job already in place, you will find it easier to rebuild your life.

  • Develop a hobby and learn new skills: The process of learning should not end until the day you die. Develop a hobby, such as cooking, and enroll in training courses and programs. Many people who have lost their job or business have found great success with the skills they have learned as a hobby.

How about you, what’s you back up plan?


© 2012-2015 All Rights Reserved