Posted by admin on Oct 21, 2011 in
Debt Consolidation
If you live in the UK and you are looking to consolidate your debts then you have several options. The best consolidation option for you will depend on your own particular circumstances such as the size of your debts and how many creditors you have.
One of the most popular debt consolidation options used in the UK is an Individual Voluntary Arrangement, commonly known as an IVA. With an IVA you can consolidate your debts and clear them in a fixed period of time. Typically you will make consolidated payments for a period of five years after which all remaining debts will be written off leaving you debt free. The amount you pay each month will depend not only on the size of your debts but also on what you can afford given your current income and essential outgoings. By entering into an IVA it is possible for you to reduce your debts by as much as two thirds. IVAs are an excellent choice for many people with debt problems they aren’t however suitable for everyone. Usually to qualify for an IVA you must have debts in excess of £15000 and be in regular employment. If you do not meet this criteria then you will have to consider other options.
The most common form of debt consolidation used by people in the UK is debt management plans. A debt management plan is an informal arrangement made between a person and their creditors to reduce the size of their debt repayments. Creditors are usually prepared to agree to such an arrangement if it prevents the debtor from defaulting on the payments all together. Typically the plan will also mean that any interest being charged to the debt is stopped and so the size of the debt is no longer increasing. Although it is possible to arrange a debt management plan yourself it is more common for the plans to be arranged by a third part such as a specialist debt consolidation company or the citizens advice bureau.
Read more... Tags: Compared, Consolidation, Debt, Options
Posted by admin on Mar 17, 2011 in
Finance You shouldn’t worry too much about bad credit finance options, because there are several financing options available regardless of your credit history… some of them charge higher interest rates or require some additional security, but in the end may be just what you’re looking for.
Vehicle financing
If you’re looking for a bad credit finance for a new or used vehicle, your best option is most likely going to be to visit a finance company as opposed to a traditional bank.
Some finance companies are more likely to offer bad credit finance options for vehicles than others, and the financing will usually depend upon the type of vehicle being financed, where the vehicle is being purchased from, and what sort of insurance and driving record you have.
Other factors that will be taken into consideration include your annual and monthly income, any cosigners that you might have for the loan, and any recommendations or referrals that you might have.
Home financing
Finding someone to offer you a bad credit finance for a house or other real estate can sometimes be tricky, but generally real estate shouldn’t be too difficult to finance.
Major factors in getting a mortgage lender to approve you for bad credit finance options include your income, any insurance that you will purchase for the house or real estate, the amount of a down payment that you’re willing to offer, and any references of former landlords that you can offer.
Mortgage lenders for bad credit finance loans can be found online, at finance companies, and at some real estate and property management services.
Other financing
Read more...
Tags: Credit, Finance, Guide, Options
Posted by admin on Mar 1, 2011 in
Finance Whether you are starting an import business or have an established importing business, it can be a very profitable venture if you have the right financing to grow your business. Imports are defined as: a good that crosses into a country, across its border, for commercial purposes; a product, which might be a service that is provided to domestic residents by a foreign producer; or a combination of the two.
Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.
It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.
Definitions:
Purchase Order Financing
Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; 
The accounts are settled and the profit is paid to you. Read more...
Tags: Companies, Financing, Import, Options
Posted by admin on Dec 25, 2010 in
Finance The availability of easy car finance is one of the prime reasons for the booming sales of the cars year after year. Even the most highly priced cars are available on monthly finance options of different types. This is a global phenomenon. The car loan can be had after paying some sum as part down payment and the rest on monthly instalments.
Some of the most common types of car finance options are: car lease, commercial hire purchase, salary packaging, Low doc/no doc car finance, chattel mortgage, novated lease and even by taking personal loan. The difference between these different methods lies in the title or ownership of the car, the liability to pay the sums to the car company and the tax treatment of the different finance options.
The car loan can be had in any of the different formats depending upon your nature of occupation. For the people employed with some organization, usually the most preferred way is to get the same within the salary package. This can take two forms. In one, called salary packaging, the monthly instalment is deducted from the salary of the employee and paid to the car finance company. The liability to pay lies with the employee and if he leaves the job, he will have to arrange for the new employer to get it packaged in the salary.
For people who want the cars for their trading purpose, like the ones in the tour and travel business, the commercial hire purchase option can be most suitable. With each successive payment, you are paying off money towards the ownership of the car. The money to be paid as instalment can be taken out from the incomes derived from using the cars in business. So, there is no extra burden on the owner. Even if the cars are taken away due to non payment of the instalment amounts, there is nothing to worry for the owner since he has not done any capital investment on it. Read more...
Tags: everyone, Finance, Options
Posted by admin on Apr 16, 2010 in
Finance Whether you are starting an import business or have an established importing business, it can be a very profitable venture if you have the right financing to grow your business. Imports are defined as: a good that crosses into a country, across its border, for commercial purposes; a product, which might be a service that is provided to domestic residents by a foreign producer; or a combination of the two.
Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.
It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.
Definitions:
Purchase Order Financing
Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; The accounts are settled and the profit is paid to you. Read more...
Tags: Companies, Financing, Import, Options
