Innovative Enterprises

Consolidate Debt

admin — Thu, 03 Jun 2010 14:35:44 +0000

Life has its unexpected emergencies and sometimes to solve our crisis we must make hard financial decisions. When an emergency causes you to advance more cash then you have available it may lead to short-term debt. However, if you are unable to pay back your debt, it will continue to exist and continue to grow as interest is added.

If you have recently not been able to manage your debt it may be time to consider consumer credit counseling, debt consolidation or bankruptcy. These three options are tailored for different situations.

Consumer credit counseling is good for people who have “manageable debt.” meaning, that if they could lower their interest rates and consolidate their payments into one lump sum every month they could afford to keep up on payments. One requirement of entering this program is that you must stop using ALL credit cards. However this option is the least damaging to your credit score.

The second option is debt settlement. Debt settlement is good for people who can no longer manage their debt. Debt being any unsecured debt, like personal loan debt, credit card debt, medical debt, etc. Student debt is not something that can be settled even in bankruptcy. With debt settlement, a lawyer will negotiate your debt down on average to 50% of what you owe and then you are responsible for the remaining portion to be paid off in one lump sum. This method does affect your credit score as debt settled on your credit history is worse that a debt paid in full. Also, you must be behind in payments and most likely will continue to be in “default” until the lump sum is payed off.

Bankruptcy should be a last resort. It is used if you are falling behind on unsecured debt like mentioned above as well as asset-backed debt such as mortgages, auto loans, etc. Bankruptcy is devastating to your credit history and can only be claimed once every 7 years.

Always consult a financial professional and legal advice before entering any debt reduction program.

Cash Loan

admin — Fri, 28 May 2010 14:34:38 +0000

Sometimes it seems no matter how hard you try to budget for bills and emergencies, some cash flow problem will inevitably come up and take you by surprise. When this happens people often turn to a savings fund or possibly a credit card. But what happens when emergencies happen to people with bad credit? What are there options!!!

If you have bad credit and need a cash loan within 24 hours sometimes your only option may be a payday loan or cash advance. These loans are set up to be used in emergencies only and are meant to be repaid usually by your next payday. Don’t take a payday loan if you can’t pay it back on time because you could double the already high interest. Typically payday loans cost approximately $100 to get a loan for $500, so you end up paying back $600 by your next payday.

Since these loans are expensive to acquire its best to seek out all other alternative resources first!!!

Credit card cash advances and hidden fees

admin — Tue, 18 May 2010 14:30:20 +0000

You may have recently opened up your mailbox and noticed and recent spike in credit card offers! I know I did and began to wonder how this is possible since we just passed credit card regulatory legislation, limiting credit cards companies profit-making model? How can they afford to pay for all of this advertising? And more importantly how can they offer these great credit card deals?

Well I have some bad news, these “deals” may not be exactly what you had in mind. Read below as we explore the fine print offered on some of the most recent “hyped” credit cards and cash advance and balance transfer offers.

Cash advance offers - Card companies are offering new deals for 0% interest on cash advances, both on new cards and in those convenience checks that come with the cards you’ve already got. But here are the traps: (1) the 0% period is shorter than it used to be (typically five or six months vs. a full year or more previously); and (2) they carry automatic cash advance fees that are getting higher and higher. Those fees used to be 3% of the balance transferred, capped at something like $60 or $75. Now they can be 4% or even 5% of the balance transferred and there’s no cap. And lets NOT forget that it is compounding APR

So before you decide to accept a credit card offer make sure to ALWAYS read the fine print.

Payday Loan Laws

admin — Mon, 10 May 2010 14:28:49 +0000

When it comes to finding payday loans online, its easy to find a million lenders by just searching the terms in which you are looking for, however all payday lenders are NOT created equal and people NEED to know their state laws to protect themselves against high interest rates.

The people in charge of regulating payday loans in their state are the attorney generals of each state. While some state generals are notorious for finding any companies that does not cooperate with each and every rule enacted by their state, especial usury caps, some state generals just don’t have the time or budget to police Internet lending and how it relates to their residents.

It is best to be prepared and know about, not only payday loan laws in your state, but also about other financial products you could potentially shop for online. However, just because payday advances are illegal in your state, doesn’t mean that there are not some lenders that will still extend the loan to you. By law, this is illegal but many online lenders can still service your needs.

There is a great study done, however, it has not been updated in a while (since 2007) that rates each state with a pass or fail of each small loan category. To view this study, click here

Save Time Finding Loans Online

admin — Tue, 04 May 2010 14:27:33 +0000

When you get ready to search online for loans be prepared to spend a time in doing your home work. Because of the nature of the internet there is usually millions of sites that will come up in your search. But don’t worry, you will not have to look at every single one of the pages but you will have to look at multiple sites to find your best deal.
When conducting a search on the internet start by searching exactly what you are looking for. For example, if you are looking for mortgage loan, try entering “mortgage loans for people with good credit in Arizona” into the search bar, instead of “mortgage loan”. The more exact you can be with your search the better results will be populated onto your search results.
Ypu may get lucky and find a multiple-lender search provider on the internet. Take Money Now! USA for example, you can go to their website and enter your information in only once and they will search over 150 lenders automatically and for free for your personal loan. Not all websites will search multiple lenders, but when you do find sites like these they can save you a lot of time AND a lot of money

Going to college with the right career path

admin — Sun, 25 Apr 2010 14:32:34 +0000

Thinking about going back to school, well this is a great time to do that. However, make sure the career path you choose will pay off in the end (and those pesky student loans)

Top 3 Hot Careers of 2010

Technology- Anything you can think of in the tech field is needed. Some of the most in-demand fields include, mobile media, software engineers, internet/website gurus and topping the list is health care information and technology.
Medical - from Medical IT personnel down to geriatric nurse’s assistants (or CNAs) are in growing demand. As our population ages and grows medical jobs are still in high-demand, especially with the aging baby boomers and explosive technology careers.
Translation Services - Teaching English as foreign language as well as translating Spanish to English and vice verse are two hot career for multi-lingual individuals. Other language needs are growing as well including Mandarin Chinese, Arabic, Hindi, when related to international translation needs.
Looking for a payday advance,

Signature loans made easy for all

admin — Fri, 16 Apr 2010 14:26:35 +0000

Do you find yourself with a bad credit history and yet many payments pending? This can be very stressful when you don’t know where to turn for assistance. Luckily there are advance payday loans open to people with the most terrible credit histories. Of course there are limits to how much you can borrow depending on your credit score but it is better than other options like borrowing from relatives and friends. Getting a signature loan is easy because you don’t need to bring in people in or property as evidence of your paying ability. All you do is fill in an online application and sign as a person responsible to pay off your debt back on time. Paying on time is always important. If you miss payments this may further damage your reputations among the lenders and the interest rates will rise too. The system is very convenient as it lets you sign in online and get your loan fixed very fast. You just get it into your account and do whatever you need with it. It’s as simple as that. Availing of this offer is fortunate because it will keep you afloat for a period of time ad give you a chance to catch your breath and figure out how to stabilize your finances for the future.