Can You Use Zero-interest Credit Card Offers To Consolidate Your Debt?

You may be stewing over your growing debt when, all of a sudden, you get an offer from a well-known credit card company suggesting that you use one of their handy-dandy checks to pay off your interest-charging loans and transfer them to a brand-new credit card. Best of all, this new credit card boasts zero interest.

Should you do this?

In a way, this is a mini-version of what debt consolidation is all about. Debt consolidation is one of many approaches to debt; it works by taking lots of smaller debts and rolling them together (that's the consolidation part) into one jumbo debt. The idea is that you can likely get better terms (less interest) on one large debt than on several smaller debts. Besides that, one payment a month keeps life simpler than having to make a dozen or more smaller payments (and there is less risk of missing a payment and getting a black mark on your credit report).

Still, caution is warranted. The first thing you need to do is review the actual offer extended by the credit card company. While zero interest is no doubt true, no company is going to extend that offer to you without some strings. Typically, the two main strings to look for is "how much?" and "how long?"

For instance, you may only be able to consolidate a specific amount of money to the new zero-interest offer. Let's say, it is $5,000. If you want to consolidate about $5,000 worth of debt or less, this is a workable amount. If you're facing $80,000 worth of debt, this isn't going to help much.

Next, look for the time limits. The company extending this kind of offer is going to set some specific time on the offer. You may get zero interest for a few months or even a year or more. But there will come a day of reckoning when you go back to a regular (or even higher-than-regular) interest rate.

Some offers for no-interest loans require that the loan be paid in full by the due date otherwise all of the interest is due. Furniture stores often extend this kind of credit. Let's say you buy $10,000 worth of furniture and the store says you can borrow that money free for one year instead of at the store's usual rate of 22% (yes, a lot of furniture stores charge rates that high). If you pay off the entire $10,000 before the year is up, you owe no interest. But let's say you paid $9,950 before the year was up but on the day the offer expired, you still owed $50. In this example, the company would be within its rights to charge you $2,250-that's $50 for what you owe and the $2,200 interest you owe because you did not pay the loan in full by the due date.

So find out how much money you can consolidate and how long the zero-interest offer lasts (and what happens when it expires). The next step requires brutal honesty; sit down with a calculator and answer yourself truthfully whether you can reasonably expect to pay off the debt on time (bearing in mind that life is unpredictable). For instance, if you owe $5,000 on a variety of credit cards, you can take two or three years to pay it off. Should you opt to consolidate some debts into a zero-interest offer with a ticking time clock, you are putting yourself under tremendous pressure to pay off that debt in one year. Can you do that? Sit down and figure it out (in this case, it means paying in about $417 a month, minimum, without fail).

The other issue involved in debt consolidation involves a process I call "stopping the bleeding." Think of debt as hemorrhaging money. Just as no person can hemorrhage blood indefinitely without suffering dire, even fatal, consequences, nobody can hemorrhage money for too long without financial disaster.

If you are still hemorrhaging cash, there is not much point in consolidating your debt. That's like taking an aspirin when you need a tourniquet. Debt consolidation does not work for everyone; it works best when the debt is finite (that is, you are not racking up more debt each month) and you have figured out what you need to do to keep yourself financially stable. Debt consolidation is the sort of approach that can help you clean up a financial disaster but it does not really tackle the root cause of why you got into debt in the first place.

Are these low-interest or no-interest loans a good deal? Actually, they can be, but they are better deals to highly disciplined money managers than to the debt-laden. If you are the sort of person struggling with mounting debt, taking on a project like this--a large debt with a ticking clock--can be stressful and might even require more financial discipline and resources than you can muster.

Another downside of the no-interest credit card offer is that it puts another credit card into your wallet, and one that you will be encouraged to use. If you already struggle with credit, you really don't need to add more temptation to your life.

That does not mean debt consolidation is not a good solution. If you can get a handle on your debt situation, figure out how to stop the downward spiral, and then work out a budget and plan to get free of debt, debt consolidation can be a great solution. In fact, it's a financial method used by large businesses and wealthy individuals to handle special financial situations. The trick is that there are many ways to consolidate debt and other ways that can be much more advantageous to those struggling with overwhelming debt.

By: Mandy Karlik

Article Directory: http://www.articledashboard.com

What is your financial style? Find out at www.debt-consolidation-diva.com . And while you're there get more information about debt consolation which is a solution that works great--but only for some people.

The Most Common Signs Of Mortgage Servicing Abuse

Homeowners can use mortgage servicing fraud and abuse practices as a defense to stop a foreclosure lawsuit. Once mortgage loans are originated, they are frequently packaged and sold off to investors. While no one may really know who owns the loan, the rights to collect the payments are transferred to mortgage servicing companies. These companies are one of the greatest perpetrators of abuse and fraud against homeowners, as they have very little incentive to do right by the borrowers.

These companies are typically paid a flat fee by the trustees of the mortgage to administer the loan, collect payments, make sure property taxes and insurance are in place and paid through escrow, and pursue any foreclosure proceedings, if necessary. If homeowners do miss payments, the service provider gets paid anyway, and actually makes more money from a foreclosure than if they offered to work closer with the owners of the property to negotiate for a mortgage modification or other workout option.

That's right -- mortgage servicing companies actually lose more money when they help homeowners modify loans and save their homes from foreclosure! The fewer resources they dedicate towards loss mitigation and assisting borrowers, the more of the flat servicing fee they get to keep for themselves.

Of course, the parties on either side of the mortgage -- the homeowners and the holders of the loans -- lose far more in a foreclosure than a loan modification. But with a servicing company in the middle of the deal, it is more profitable to let a house go through the entire foreclosure process than to assist the borrowers in making the payments more affordable.

Servicing companies have also been found to "push" homeowners into foreclosure in a variety of abusive ways. If they are not pushed straight into foreclosure, the companies may covertly charge fees and extra interest, or credit payments late. If the owners ever do miss a payment (and many loan service providers only purchase rights to loans that are subprime or have higher risks of default), a foreclosure will quickly result and the costs to reinstate the loan may be astronomical.

The following is a list of the top seven most common mortgage servicing abuses that homeowners will run into. However, the ways that fraudulent companies can take advantage of borrowers are nearly endless, so if homeowners believe that they have been defrauded, they should take appropriate actions in court and with state and federal regulatory agencies. The more that they can discover about how their loan has been handled by a service provider, the better chance they have of proving servicing abuse and other related charges in a court.

Junk fees masquerading as legitimate. These may include property inspection fees, broker price opinions, and outrageous attorney fees, among many others. These will be charged to a borrower's account in order to increase the amount of a payoff, thereby creating even more profits for a loan servicer during a foreclosure action.

Failure to disclose fees during a Chapter 13 bankruptcy:

 Servicing companies seem to work even harder against homeowners once they file for bankruptcy. Fees can increase, but little justification for the fees will ever be given, even to the bankruptcy courts.

Collection of junk fees even after discharge in Chapter 13:

Because the company knows the homeowners no longer have the protection of the courts or the guidance of a bankruptcy lawyer, they can add the junk fees back in and charge them to the borrowers.

Using junk and late fees to show negative payment history:

This would help the mortgage service providers argue that the homeowners have failed to uphold the bankruptcy payment plan and that a relief from stay should be granted. The service providers can try and argue this even if the borrowers have made all of the required Chapter 13 payments on time.

Attorneys for corrupt mortgage service providers just as corrupt:

These attorneys will receive information they know to be inaccurate or misrepresented from the service provider and file motions in court like it was legitimate -- another case of lawyers abusing their positions in order to keep a rich client happy. But the lawyers also know that they can overcharge for legal and court fees and it will be charged to the borrowers' accounts. These fees may even be in excess of what courts have approved.

Escrow account abuse:

Service providers may create illegitimate escrow accounts to hide the fact that they are taking borrowers' money and applying it to junk fees, late fees, and interest, instead of on the actual amounts due on the loan. This pushes borrowers even further behind every month. Companies may also fail to fund escrow balances properly, creating negative balances when county property taxes or homeowners insurance are paid. The homeowners are then charged for this deficiency and fees and interest are added to the balance of the loan.

Forced-place homeowners insurance:

Too often, servicing companies will arbitrarily determine that the property insurance in place on a home is not sufficient, or they will simply deny there is any insurance present at all. At this point, the mortgage loan service provider will buy a policy from an insurance company it is affiliated with and charge the premiums to the borrowers. Unfortunately, the premium may be several thousand dollars more than the original policy was. But the service provider will adamantly, consistently deny that the homeowners' policy was adequate, and no amount of proof or phone calls will convince them otherwise.

Unfortunately, there are simply far too many ways that homeowners can be abused by servicing companies to list here. A surprising number of the largest names in mortgage servicing have been found engaging in these practices and have been forced to pay homeowners. A good attorney or foreclosure specialist trained in this area will be able to help the vast majority of borrowers determine if servicing abuse is a factor in their foreclosure.

Although there is no specific federal or state law outlining what constitutes mortgage servicing fraud or abuse, both areas of the law outline some prohibited actions for any mortgage lender or service provider. Regulation Z of the Truth in Lending Act is a good place to begin research, as well as any applicable state foreclosure laws, consumer protection laws, and banking regulations.

In terms of using this as a defense against a foreclosure lawsuit in court, homeowners may allege servicing abuse in the affirmative defenses or counterclaims portion of their answer to the complaint. Depending on the severity of the abuse, borrowers may be able to offset some of the damages they have suffered or have an entire defense to the lawsuit for especially egregious acts.

By: Nick Adama

Article Directory: http://www.articledashboard.com

Nick publishes articles for the My Foreclosure Lender website. These articles provide resources to homeowners facing foreclosure, describing a number of alternatives they can use to delay foreclosure. The site details numerous methods, including loan modification, foreclosure lending, deed in lieu, filing Chapter 7, and others. Visit the site to find out more about how the foreclosure process works:www.myforeclosurelender.com/

Walmart Instant Credit: Extend Quick Help

Walmart instant credit has a great and advantageous feature of instant approval. At time of urgent financial requirements; the instant approval acts as a quick remedy. You get the financial assistance on time and can easily fix up your problems. For your convenience and considering your requirement the approval and processing is done really fast and you can grab the funds immediately. You are not required to comply with lengthy formalities and there is no paperwork involved.

Walmart instant credit can be grabbed for fulfilling various requirements. You can cover up various day to day expenses or shop around market, buy gifts, clothes or other useful things and easily scrap off all your bills. If you have to consolidate some existing debts then that is also possible. You can meet up any of your financial requirements or finance your personal need that calls for quick attention. With walmart instant credit, you have total liberty to use funds the way you want.

Walmart instant credit is offered at slightly higher APR. Availing walmart instant credit is not at all a hard nut to crack! The online technology has really simplified things. Now you can easily apply online by filling up a simple application form. The processing starts immediately after form submission. Online process is very quick and hassle free.

A good credit rating may help you get the card approved really fast. Worried about your bad credit? Then you need not worry because walmart instant credit is extended to even bad creditors. If your credit report shows CCJs, IVA, late payments, arrears, defaults and bankruptcy then you can apply for it. Walmart instant credit is provided irrespective of your credit records. Your past credit records will create any problem. So, just don’t waste your time in thinking; start acting and quickly apply for walmart instant credit!

By: Amy Gordon

Article Directory: http://www.articledashboard.com

Amy Gordon is associated with Instant Business Credit Cards. She holds a Master's in finance from Cambridge University. To know more about walmart instant credit, business credit card offer, small business credit card, credit cards please visit www.instantbusinesscreditcard.net/

Moving Companies: Alternatives And Financing

Moving from one property to another can sometimes be traumatic. Till you get used to the new property there are a lot of hassles that you’ll have to go through. Moreover, the problems will start from the very beginning when you have to move your things from one place to another. Thus, choosing your moving company is something that can provide a great relief or further problems.

Resorting to a moving company is not the only action you can take. It all depends on the amount of things you have and the distance that separates one property from the other. You may be able to move most of your things by yourself or maybe all with the aid of some friends or family members. But take into consideration the fact that some furniture and appliances are fragile and should better be handled by professionals.

Costs And Alternatives

Hiring a moving company can be expensive. If you have to move especially delicate things like a piano for example, you may even have to hire the services of exclusive moving companies that will charge significantly higher amounts. You can shop around and compare prices but bear in mind that sometimes what is too cheap turns out expensive and the company will be transporting all your belongings which you surely consider valuable in more than one sense.

As explained above, the cost of hiring a moving company will vary according to the amount of things that you need to transport from one property to the other but mainly on the distance that separates both properties. If the type of things you need to move would allow you to transport them yourself provided that you had the transport means, hiring a moving company may not be your only possible solution.

It is also possible to rent a truck or a van where you can (with the aid of friends or relatives) carefully load all your belongings and transport them from your current residence to your new home. Bear in mind though, that you’ll need to fasten and secure everything so nothing gets damaged during the carrying. Using a proper cushion wrapping to reduce the risk of damage is an excellent idea.

Financing: The Simple Solution

Though moving companies can be expensive, you may decide that they are the best choice for you. If that’s the case, the good news is that you can obtain finance to move your belongings. Some moving companies will agree to provide several installments to finance the fees. Even if that’s not the case, you can still resort to other forms of financing in order to obtain the funds to pay the fees altogether.

You have mainly two alternatives: you can pay with credit card and use the ability to finance the balance on your credit card so you can pay as much as possible every month. Or (and this is my preferred solution), take a personal unsecured loan to pay for the whole fees and then repay the loan in the small resulting installments. This last alternative is probably the cheapest one because the interest rates on personal loans are considerably lower than the ones charged by credit card financing.

By: Sarah N Dinkins

Article Directory: http://www.articledashboard.com

Sarah Dinkins is a financial advisor who has been associated with Guaranteed Bad Credit Loans since long ago. To find Personal Loans, Guaranteed Unsecured Credit Card, and others visitwww.badcreditfinancialexperts.com

The Equipment Lease Calculator - Know Your Lease Amount

Leasing is a valuable alternative for growing businesses. Equipment leasing gives us:

1. Maintain Capital Strength
2. Efficiency
3. Flexibility
4. Obsolescence Protection
5. 100% Financing
6. Customized solutions
7. Asset Management
8. Tax Advantages

When you are leasing equipment for your business such as computers, heavy construction equipment, used medical equipment or and farm equipments, you may qualify for benefits that you may not have known existed.

About The Equipment Lease Calculator

As a business lessee, you probably want to know approximately what you can expect to pay for an equipment lease. Here's an equipment lease calculator that will give you fast answers to your financial questions. Simply enter the cost of the equipment that you are looking to finance and analyze quotes for 12, 24, 36, 48, or 60 months. Determine if a lease fits your priorities, long term goals and financial condition, all with a few clicks of your mouse. It’s easier than ever to determine the amount and length of lease that’s right for you.

The results returned by the leasing calculator are monthly rentals based on conservative equipment leasing rates for assets .Some sub-prime business customers may find that the deposit required is greater than the leasing calculator returned, i.e. 12 months rental instead of 6 is needed. Leasing companies will endeavor to achieve the best monthly rental we can for your asset finance. Lease payments are calculated by subtracting the residual from the net selling price, dividing that amount into payments and then adding the lease charge. The formulas mentioned below are basic and can vary.

Step 1 : Calculate the Depreciation
Depreciation = (Selling Price - Residual) / Number of Months
Step 2: Calculate the Lease Charge
To calculate the lease charge you will need to know the Money Factor (money-factor as the "interest rate" for the lease)
((Net Sales Price - Residual)/ Term) + ((Net Sales Price + Residual) x Money Factor) = Month Lease Payment.
Step 3: Convert the Money Factor to an Interest Rate

This formula produces a high interest-rate it doesn't necessarily mean that it is a bad lease.
(Money-Factor x 2400)
This "lease calculator" takes no account of the following:-

1. The size of loan.
2. Your company’s circumstances.
3. A start-up company may need to have additional security to secure lease finance.
4. Other potential costs that an asset lender may charge.
5. Examples are documentation or "change of title" fees, which do vary but are generally minimal.
6. Other factors that may affect the rentals include:-
- The residual value of any asset to be leased.
- Quarterly, Half Yearly or Annual Rentals.
- The amount of deposit you may wish to put down.

You’ll soon find that the whole equipment leasing process is faster, simpler, and often less costly than other financing alternatives. You can rely on the equipment lease calculator to navigate your way through various options. Our calculator allows you to analyze your business transactions, calculate monthly costs, and preserve your resources.

By: Sanjana Sharma

Article Directory: http://www.articledashboard.com

Sanjana Sharma is an author of this article. For more information about equipment lease calculator, lease calculator, computer equipment leasing, used medical equipments, commercial truck leasing visitwww.leasewithcrystal.com

Top 10 Things To Look For When Choosing A Car Leasing Broker

What is a Car Leasing Broker?

A Car Leasing Broker acts as an intermediary between the Finance Company and the company or person wishing to lease a vehicle. He checks a number of funding providers on a daily basis (similar to an insurance broker) to see which is the most competitive on a particular vehicle. This is in contrast to the Main Dealer who is usually tied to using only his Manufacturer’s finance terms, which may be noncompetitive.

In addition, due to the large volume of business the Car Leasing Broker introduces to Main Dealers, he has negotiated the best possible discount on the vehicle. This preferential vehicle discount, together with the low Finance Company rate, means that he can usually offer a much lower lease rental than is available direct from a Main Dealer, although there are exceptions such as when a dealer is running a special promotion.

Furthermore, a good Car Leasing Broker can often provide a much higher level of Customer Service and personal attention than either the Finance Company or the Main Dealer, because he is acting primarily on your behalf. He is there to give you any help you may need and to resolve any issues you may have with your vehicle or contract during the course of the rental period, and will help you liaise with the Finance Company if problems arise.

So, what are the Top 10 things to look for when choosing a Car Leasing Broker?

1. Independence – a Vehicle Leasing Broker should not be tied to any one finance company or vehicle manufacturer
2. Broad portfolio of finance company funding partners to ensure the most competitive quote – a broker should be well placed to compare the market to find you the best deals
3. Member of the British Vehicle Rental & Leasing Association (BVRLA): This accreditation means that a Broker must offer you the highest levels of service, honesty and integrity, and must handle any customer issues promptly and efficiently (conciliation service is available if necessary)
4. Well established business with a proven track record – ask to see testimonials from satisfied customers
5. Should be able to supply all makes & models of cars and commercial vehicles, and offer all the main types of Business Car Leasing and Personal Car Leasing Contracts – your one-stop shop
6. Should be happy to give free impartial advice on the most suitable option for each individual customer, including VAT & company car tax (e.g. helping private individuals opt out of their Company Car Scheme)
7. Should keep you fully informed as to the progress of your order and provide one convenient point of contact for all your queries or issues about your vehicle or contract, so you have no need to contact the finance company or supplying dealer directly.
8. Should offer Free Delivery to your home or office, and Free Collection at termination of contract
9. Should offer pooled mileage arrangements, as this could potentially make substantial savings for companies with a number of vehicles
10. Should offer a full range of Car Leasing services including Fleet Management, Maintenance Contracts, Accident Management, Duty Of Care legislation compliance, Gap Insurance, Fuel Cards and Short Term Rental

So, it’s definitely worth speaking with a reputable Car Leasing Broker if you’re looking for a competitive leasing quote and you value good Customer Service.

By: Howard Mostyn

Article Directory: http://www.articledashboard.com

Howard Mostyn runs a Car Leasing Consultancy business in the UK. and offers free advice on Car Leasing, via his website Car Leasing Guide. He is giving a FREE copy of his eBook "Car Leasing Secrets - How To Get The Best Deal Possible On Your Next Lease!" to anyone who subscribes to his Car Leasing Blog.

Top Reasons People Take Out Personal Loans

Life can throw little curve balls at you all the time and sometimes those curve balls can get expensive. When people get hit with bills they cannot pay, or they start to make future plans that they need to finance, many will turn to taking out a personal loan. Check and see if any of these top reasons that people take out a small loan apply to you and your situation.

Home Renovation - One of the more expensive rooms in your home to renovate is the kitchen and when it comes time to put in a new sink or a new kitchen floor then a small loan is a great way to finance it. You can also use a loan to put some new appliances in as well.

New Computer - If you find yourself with a need to be connected to the rest of the world then you are in need of a new computer. You could sign up for a credit account with the computer manufacturer but the chances are pretty good that the interest rate on that account will be fairly high. The solution could be a small loan, with a low interest rate, as a way to finance your new computer.

Big Screen - People who love movies tend to invest in some of the better movie watching equipment and a prime investment for any movie lover is a home entertainment theatre system. For a really impressive plasma screen, speaker system and proper seating your finances might need a little lift, all for the love of movies.

Landscape - Many people use their garden as their escape from the rest of the world and if you really want to take your garden to the next level then you need some serious landscaping. You can finance your garden landscaping and, when the garden is done, you will have your own oasis from the rest of the world. Not only this, the resale value of your home will be boosted by the improved garden.

Backyard Pool - When the weather is hot every Aussie wishes they had a swimming pool installed in time to fend off the heat of the summer sun. Having a swimming pool installed is a great gift for your family!

Fun on the Water - Some people look to the open waters as their source of relaxation, and to do that you need a boat. Buying a boat to get away from it all is something that doesn't come cheap. After the boat, you'll need to moor it, have a boat license and pay for fuel and upkeep.

Wedding Bells - The happiest day of a young couple's life can also be one of the most expensive days. A young couple seeking to get married; enjoy the day and invite the family, then jet off to some exotic island for the honeymoon is enough to make some people postpone their big day until they've saved up enough. A small loan might be a wise idea, to speed up that joyous day!

A Family Holiday - At some point everyone just needs to get away from it all and go on holiday but many people do not take that well needed rest because they feel they do not have the finances, and perhaps they do not have the cash flow right then and there. A low interest rate loan can get you on the beach and away from it all in no time.

Cash Flow - Sometime you can get caught in a situation where you need additional cash flow to fund a hobby you have taken up or maybe invest in a idea that you have been cultivating for a very long time. A personal loan can help you increase your cash flow and bring your ideas to life.

By: Tom Becker

Article Directory: http://www.articledashboard.com

Tom Becker is a personal finance expert having spent his working life in business advising companies and individuals on how to manage their finances. He writes about low interest personal loans and credit cards forwww.moneycompare.com.au.