tag:blogger.com,1999:blog-6630478883918086442024-03-13T13:58:43.415-07:00Money Saving GirlUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-663047888391808644.post-3816395487416674412017-10-04T05:05:00.000-07:002017-10-04T05:05:10.609-07:00Avoid Bankruptcy While You CanAvoid Bankruptcy – While You Can<br />
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One must avoid bankruptcy while he still can. Filing bankruptcy may save one from his debts, yet this has serious demands and consequences so it shouldn’t be dealt with without due consideration.<br />
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Avoid bankruptcy and one also avoids its profuse demands. If person is in a bankruptcy plan, he is also expected to stay current on his child support and/or alimony obligations, and to pay his taxes and a lot his other expenses, aside from keeping with the agreed regular plan payments. This time there would be rigid restrictions on how he spends his money. And if he should is not able to complete the plan because of circumstances beyond control like losing a job or a devastating illness, he is lucky enough if the court lets him discharge his debts on the basis of hardship; but if the bankruptcy court won’t give him a hardship discharge or even modify the plan, then the debtor would have to convert to a Chapter7 (sell properties) Bankruptcy if also permitted, otherwise he could just ask the bankruptcy court to dismiss the case. He would still owe his debts, although, the payments he made during the plan would be deducted from those debts. Still as it turns out, the creditors may now be able to add on interest they were not able to charge while the Chapter13 case was ensuing. So should one avoid bankruptcy? – Yes.<br />
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This stringency in bankruptcy is (blamed) justifiable against Bankruptcy Fraud of those with the criminal intention of evading provision/payment for ‘debts’ although they have funds to use as payment – so-called petition mills, false oath, assets concealment, and fraudulent conveyance of property. Even the use of multiple-filings as ‘strategic’ bankruptcy (which is not a fraudulent criminal act per-se), is an all-precarious move, creating court-prejudice against the filer if evidence shows that the bankruptcy is being used strategically. – Enough exasperating reasons for apt individuals to avoid bankruptcy, there are even more practical reasons to avoid bankruptcy: the filing cost, penalties, what you lose, finding an attorney, making a court-appearance, not to mention the obvious stigmas and disentitlements.<br />
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Even if one succeeds in the bankruptcy plan, being able to put with the repayment plan until the end and even finding creditors granting credit at the end of the repayment period, the bankruptcy could still stay on the debtor’s credit history for 6-10years. Having debts discharged by court would still leave a mark on the credit report and would make it more difficult and costly to borrow money or obtain credit in the future. Is that easy to get a fresh start financially? – No.<br />
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Bankruptcy shouldn't be taken casually. Avoid bankruptcy, if at all possible, and make a smart fiscal move.Unknownnoreply@blogger.comtag:blogger.com,1999:blog-663047888391808644.post-49084036843246458202017-10-04T05:02:00.002-07:002017-10-04T05:02:05.203-07:00Auto RefinanceAuto Refinance<br />
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You have probably heard of auto refinance before. Or simply refinance. The term “refinance” actually refers to a financial situation wherein a borrower finds financing to pay off a current loan. Refinance is often put into practice in home buying. In fact, refinancing is one of the most popular methods of getting financing for a home loan.<br />
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With auto refinance, the same thing applies. Auto refinance is basically paying off one loan with a new loan. The goal of auto refinance is to allow the borrower to save some money from your monthly loan obligations. And as such, it is one of the best kept secrets in the financing industry. For years now, people have refinancing their homes and saving thousands of dollars. However, the practice of refinancing car loans has yet to be indulged by most. Why? Perhaps the reason is that auto loans generally behave differently from home loans and people are naturally skeptical about new methods. Regardless, auto refinance is still a good choice, provided that the situation is right.<br />
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When to get an Auto Refinance Loan<br />
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The only way for auto refinance to work is if you get it when the interest rates are low. Mortgage rates tend to move with interest rates. Therefore, if interest rates are low, then it’s likely that mortgage rates are low also. Low mortgage rates typically mean low monthly repayments and this then is the situation you should aim for.<br />
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Only few people really understand the time value of money. Keep in mind that the longer you pay for a loan, the bigger amount of money you actually spend for it. Thus, by the end of the loan period, you would have paid more money on interest than on the principal. This is why auto refinance is important for it is one of the few methods that could help you minimize loan costs and maximize your savings.<br />
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Who can benefit from Auto Refinance?<br />
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Almost anyone with a loan to his name can benefit from auto refinance. Even car buyers with bad credit can obtain auto refinance as a way for them to lower down their APRs. Let’s say, for instance, you make an auto refinance loan for $16,500 on a new Honda Accord. At the end of six months, you agree to pay off the amount at 21% APR. So for a few months, this will be your monthly loan obligation.<br />
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Then, you decide to take an auto refinance loan. However, this time, your loan ate is at 6% APR. Your current monthly payment is $446 which gives you total interest charges of $10,283 at the end of your loan period. Your auto refinance loan offers you a monthly payment of $319 with total interest charges of $2,639. Thus, by refinancing, you can save up to $7,600.Unknownnoreply@blogger.comtag:blogger.com,1999:blog-663047888391808644.post-12508981523277395782017-10-04T04:57:00.001-07:002017-10-04T04:57:15.346-07:00529 College Savings Plan529 College Savings Plan<br />
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First up, what’s a 529 college savings plan? It got its name from Section 529 of the International Revenue Code, which states that the federal tax law grants you certain tax benefits if you can satisfy a few basic requirements.<br />
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The plan itself is a form of education savings plan which is operated by a state. A 529 college savings plan may also be operated by an educational institution specially designated by the state to provide such a plan. The purpose is to provide families a way to save money for future college expenses.<br />
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What are the benefits?<br />
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The first clear advantage of a 529 college savings plan over other education plans is the unrivaled breaks in income taxes you get. Remember that a 529 is provided for and operated by the state and federal law expressly provides that a 529 college savings plan is tax-deferred. Not only that, but college costs for the plan’s beneficiary come out free from federal taxes. Now, with the passage of the Pension Protection Act of 2006, the tax-free treatment of costs paid from distributions of a 529 college plan is made permanent.<br />
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The second advantage of 529 college savings plan over other education plans is that as the donor, you stay in charge of the account. In other words, the named beneficiary cannot claim the funds for himself. Only you have that right, with few exceptions. You are the one to decide when to withdraw funds and how much. In fact, most 529 college savings plans allow you to get back the funds from the account for yourself.<br />
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The third advantage of a 529 college savings plan is that it can provide you with an easy way to save for college. Applying for a 529 college savings plan is very easy and very simple. All you have to do is fill up a form and then make your payments. There is even one option where you can automate your deposits. It is the plan that handles the continuing investment of the account, not you. So, after doing all that is necessary to enroll under a 529 college savings plan, you can just relax and stop thinking about it. Of course, if you want to transfer your investment on your own, you can do that, too. You can change your 529 program or rollover to another program of the state.<br />
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And finally, the eligibility requirements for a 529 college savings plan are such that everyone can qualify. There is no income limitations required in general, and there are no age restrictions. What’s more, the amounts that you can pay to your account are substantial. Some states may even allow over $300,000 per beneficiary.Unknownnoreply@blogger.comtag:blogger.com,1999:blog-663047888391808644.post-84010806594313523462017-10-04T03:47:00.001-07:002017-10-04T03:47:07.337-07:00Handle Your Defaulted Student LoanHandle Your Defaulted Student Loan<br />
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College student auto financing is increasing day-by-day because of the needs of students. These students should apply to their home country for fee and living cost support, and will therefore be subject to the same student finance arrangements that apply to other undergraduates in 2017/18. You pay student loan repayments on the same income that your employer pays national insurance contributions on. So, if your pension contributions lower this figure, that's the one assessed for student loan repayments.<br />
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There are multiple repayment plans to choose from. Most students do not work with a tutor unless they need help, and usually a lot of it. It can be easy to feel like you must take a student from their level of understanding and move them to yours by the end of the session.<br />
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In order to handle your delinquent student loan, one can easily opt for the loan consolidation program. Like any type of loan, there are clear criteria applied by lenders when it comes to issuing loans to students. College students are experiencing a most tumultuous time in their lives.<br />
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In the first case, a new car, you should calculate the down payment, monthly rates, and the interest rate you have to pay. Secured loans, like Home Loans, which are backed by some mortgage have a lower rate of interest when compared to the unsecured loans which do not have any collateral like all education and most personal loans.<br />
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Unlike a debit withdraw, which is taken from available funds in one's bank account without the accrual of interest, a credit card advance is withdrawn from one's available credit but with an extremely high interest rate. It is the official and primary application form submitted by eligible individuals to the Federal Student Aid.<br />
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-663047888391808644.post-60937439572506764902017-10-04T03:38:00.002-07:002017-10-04T03:38:14.502-07:00College Families Bushwhacked By New Loan LegislationCollege Families Bushwhacked By New Loan Legislation<br />
The popularity of consolidating college loans is understandable, especially given the high level of debt that college graduates are faced with. Please read the handbook carefully before applying for a student loan. Private lenders, such as banks, credit unions and savings & loan associations, provide Federal Family Education Loan Program (FFELP) loans. The "Income Based" plan will ask that a certain portion of a student's income go toward the student loan and lasts for 10 years.<br />
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Clearing the debt created by student loans while in college is not easy. FedLoan is the government provider for PSLF - if you apply for it, you're always going to be at FedLoan. Be sure that you ask about the difference between private and federal loans; because many lenders treat them very differently during consolidation.<br />
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She finds out that she can refinance the loans into a $10,000 consolidation loan to lower her monthly payments and she'll be eligible to extend her payments over 8 years. This leaves many students in the middle, and these students typically take out student loans.<br />
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Unsubsidized federal student loans are also guaranteed by the U.S. Government , but the government, while controlling (setting) the interest rate, does not pay interest for the student, rather the interest accrues during college. Make sure you apply early - even if you have a conditional offer - as you can amend or cancel your application if your plans change.<br />
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Having a regular card however means you could forfeit some of the student benefits from having a student credit card, although you might get a lower interest rate and a better credit limit than a student card. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received.<br />
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