Borrowing

The Right Approach to Personal Loans

Personal Loans

“I need a loan to get some renovation work done on my home. We will soon be having a baby come into the family and I want to be prepared before the baby can arrive. Plus I would also like to get the ageing motor of my car repaired and/or replaced because I know there will be a lot of use for it once the baby comes. I have never taken out a personal loan and do not know how to go about it, how much time it will take for me to get the money and other details...

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Understanding the Matrix of Personal Loans

Personal Loan

You can avail personal loans for different purposes. They help you whenever you do not have adequate cash. The interest rate for such loans is relatively lower. Hence, it is better to opt for personal loans for many-fold purposes, which include the purchase of consumer durables. Knowing the advantages and disadvantages of these loans is a sheer necessity. These loans do not necessitate production of any security or collateral like other loans. You don’t have any middleman or agent during procurement of this loan. Banks are ever willing to provide personal loans...

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Exploring the Gamut Personal Finance with Student Loans

student loan

Student loans constitute a viable portion of personal finances. This loan is designed to assist students to pay for their books, university tuition and living expenses. It organically differs from auxiliary loans in accordance with varying standards of interest rates. These rates are substantially lower than the others of its ilk. The repayment schedule and mechanism can also get deferred while you are still pursuing your education. The norm is different from one region to another. The strict laws pertaining to the regulation of bankruptcy form a noteworthy precedent in this regard...

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Credit Report: 4 Important Steps to Dispute the Wrong Information

credit score

If there is any wrong information in your credit report then you need to dispute it properly. Under FCRA or Fair credit reporting act, the credit reporting bureaus – Equifax, Experian and Transunion should rectify the false information that is written on your credit report. Besides this, the creditor that has given the false information on your report should make it a point to rectify it too.

You should evaluate your credit report once every year in order to see if you are having a good credit score and also if there is any mistake on the report...

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How to Handle Payday Loans by Avoiding the Demerits

Payday loan

Numerous people find payday loans advantageous enough. Easy accessibility is the actual reason behind this. You neither have to produce your credit report nor your bank details to get a payday loan. However, the actual picture isn’t that pretty at all. There are several disadvantages of payday loans that every consumer must know before taking out one.

The Demerits of Payday Loans that you Must Know

Go through the following demerits of payday loans to get an idea about the exact scenario:

1. The interest rate is considerably high: Payday loans come up with extremely high interest rate...

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Purchase or Lease a New Car?

Lease or Buy a New Car?

My previous article, Buying a Car: New or Used?, addressed the most common factors which should be considered when deciding whether to buy new or used. For those who decide to acquire a new vehicle, this article explores the main distinguishing factors between purchasing and leasing. So, Purchase or lease?

Business Use

If you are acquiring a new vehicle for business use, it is often preferable to lease. This is because the entire annual leasing cost can be claimed as an expense for income tax purposes, up to a specified limit.

If you purchase a vehicle, the expense you claim for income tax p...

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Using Home Equity as a Piggy Bank

Home Equity as a Piggy Bank?

As mentioned in my previous articles on Debt, historically low interest rates have fueled an unprecedented increase in personal borrowing and household debt. One significant component of this debt is real estate mortgages and debt secured by real estate. To make matters worse, many people make poor decisions regarding the use of equity.

Equity in your home is the difference between its market value and the balance on any mortgage. Once home equity is accumulated, there are several ways to use it to your advantage...

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The Mortgage: Buying and Financing a Home

Balancing House and Money

For most people, buying or building a home is the largest single purchase and investment they will ever make. There are so many issues to be considered and so many decisions to be made. Once you have decided whether to buy or build, careful consideration must be given to location and neighborhood, size, interior layout and exterior design, affordability and, of course, mortgage and financing. Arranging the mortgage and financing is the first concrete step before proceeding with your purchase or building project.

Buy or Build?

Many families prefer to build a new home for a number of reasons...

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