After an Injury Accident Contact a Lawyer

Posted on January 16, 2008
Filed Under Law, Personal | Leave a Comment

Many of us are good people and we like to think that everyone else is as well. However, those who rely on good people at the insurance agency to take care of them after an injury accident will only be taken advantage of. Insurance companies are not the “good people” you think they are, even if they sound like they are trying to help you. That is why you should contact a Boston personal injury lawyer. When you are injured in an accident you need someone to take care of your interests and many times you are unable to because you are injured and not well versed in the law. A Boston personal injury attorney knows how to represent your interests and protect your rights. This is exactly what you need when you have been injured because many times you are stressed out over the situation you are in.

Many people involved in an accident who are injured find themselves out of work and with no income and mounting medical bills. This would not be such a big deal if the insurance companies paid up like they should. However, most insurance companies drag their feet and do everything they can to settle for less than they should pay. They will do everything in their power to convince you to accept a settlement that does not benefit you and is not what you should be paid. That is why it is so important for you to talk with a Boston car accident attorney. This attorney will represent you and your rights and help you get the money you deserve. Not to mention, most accident lawyers will not require payment unless they win your case. That is a win/win situation and why anyone who has been injured in an accident must contact an accident injury attorney sooner rather than later.

The easiest way to find an accident injury attorney is to search the yellow pages or the Internet. You can simply look up “Boston injury lawyer” and then begin calling the different ones until you find one you are happy with. If you are searching online you can even search for reviews and past experiences of other clients to see how the lawyer is and if he does a good job. These are just a few suggestions to help you should you ever become injured in an auto accident or if you are currently injured and waiting compensation.

Caitlina Fuller is a freelance writer. Insurance companies are not the “good people” you think they are, even if they sound like they are trying to help you. You need contact a Boston personal injury lawyer When you are injured in an accident you need someone to take care of your interests. A Boston personal injury attorney knows how to represent your interests and protect your rights.

Colleges urge students to consolidate federal student loans

Posted on January 10, 2008
Filed Under Debt Consolidation, Mortgages, Sub Prime Mortgage | Leave a Comment

by April Capochino

Interest rates on federal student loans will increase nearly two points July 1 and college students stand to save thousands by consolidating Stafford loan debt now.

But with final exams and graduation at hand, debt refinancing is probably the last thing students are thinking about.

It’s a hard thing for students to grasp right now, said Cathy Simoneaux, director of Loyola University New Orleans’ Office of Scholarships and Financial Aid. It’s not really real until you have to pay the bill. But anyone with outstanding Stafford loans needs to look at consolidating.

Interest rates on the Stafford loan, the most commonly used federal student loan, are now at the lowest level in years. But they are going up sharply soon.

Borrowers will pay 2.77 percent interest on Stafford loans during their six-month grace period after graduation and 3.37 percent during the repayment phase, said Martha Holler, spokeswoman for Sallie Mae, a Reston, Va.-based company that manages more than $107 billion in student loans for more than 7 million borrowers.

However, beginning July 1, interest rates will increase to approximately 4.61 percent and 5.21 percent, respectively.

The federal government adjusts interest rates for federal student loans once a year after the May Treasury bill auctions.

The auctions take place weekly but the government focuses on results of the last T-bill auction in May to set the rate for the next fiscal year, which begins July 1. Because the last auction is May 30 this year, the rate could still fluctuate a bit but not significantly, Holler said.

The interest rate on a Stafford loan is capped at 8.25 percent.

Last year, the average federal and private loan debt for undergraduate Loyola students was $18,542, said Simoneaux.

Eighty percent of the 3,600 undergraduate students at Xavier University use federal and private loans to pay for their education, said Mildred Higgins, financial aid director.

It would be to their benefit to consolidate, Higgins said. Right now, they’re thinking about getting jobs. It hasn’t hit them yet.

Graduates carrying $20,000 in Stafford loan debt could pay more than $5,000 in interest over the 10-year life of the loan if they opt to wait six months until they start paying it back.

If they consolidate now, they can lock into a lower fixed-rate loan using a combined weighted average of the interest rates of the consolidated loans adjusted to the nearest one-eighth percent.

For instance, if a graduate consolidates $20,000 in Stafford loan debt at the 3.37 percent interest, the graduate would pay about $3,600 in interest over 10 years, which saves $1,400 over 10 years.

Consolidation loans can be 30-year loans, too.

We look at loan consolidation as a graduation present that student loan borrowers give themselves, Holler said. It’s hard to come up with a reason not to consolidate before July 1. But because of all the rules surrounding consolidation, the most important thing for people to do is to make an informed decision for them.

There are limitations and restrictions in the federal consolidation process.

At Dillard University, each student is required to complete exit loan counseling before graduation, said Cynthia Thornton, director of financial aid.

During the exit loan counseling, we advise our students of upcoming trends and issues such as this expected change in the student loan consolidation rate, Thornton said.

Patrice Coleman, a senior to-be at Dillard University this fall, plans to consolidate her nearly $20,000 in Stafford loans but she doesn’t think other students understand the increase.

I think it’s a big concern right now, she said. It should be, especially if they don’t have jobs.

Experts say there’s plenty of information available to students. To start the Stafford loan consolidation evaluation, begin with your lender.

If you do decide to consolidate, do it soon. Once new interest rates are set July 1, there’s no turning back.

We’d hate to have someone that wakes up July 1 or July 2 and says, ‘Yeah, I’d like to do that now.’ We’d have to tell them no, Holler said.

Copyright 2005 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.

After a Bankruptcy

Posted on January 3, 2008
Filed Under Bad Credit Mortgage, Credits | Leave a Comment

It is very important that after a bankruptcy is discharged that the correct information is recorded on the credit bureaus! The attorney (if you used one) filing the paperwork for the bankruptcy does not automatically or necessarily amend the credit report! In most of the post bankruptcy credit reports I have reviewed there is seldom an accurate reflection of the debtors true debt!

Modern credit scoring systems may not allow credit to be issued because of debt ratios, where the debt actually no longer exists. Review your credit report, if the debt was discharged you don’t owe it! The listing should reflect that. As a lender, I have seen many instances after a bankruptcy, where the credit bureau reported as if the debt still existed. Order a copy of your credit profile from the three major credit bureaus. Review your credit profile if you find an account is listed that shows a balance, take action. A simple letter to the creditor asking that the listing be modified may alter the listing.

Some folks don’t mind the hassle of ordering the credit reports and dealing with lenders and credit bureaus. Many people prefer to use credit repair kits or services to remove incorrect listings on their credit reports.

http://www.badcreditinfo.com

How To Repair Your Credit Using Credit Repair Services

Posted on January 3, 2008
Filed Under Credit Cards, Credit Report, Credits | Leave a Comment

Credit Repair Services are available to consumers that want to repair their own credit and eliminate high cost attorney or credit counseling services. If you have little money and more time you may want to consider using a credit repair service and repair your own credit.

Many people do not understand the American credit system. The credit system has “little credit secrets” that they do not want consumers to know about. If the credit bureaus do not intimidate you, then you might consider using a credit repair service to repair your credit.

Credit Repair Services are easy to understand and incorporate to help you repair your own credit. If you want to learn how to raise your credit score for half the cost and in half the time that an attorney or credit counseling service can do, then check out CreditSecretsBibleOnline to get all the information.

Unsecured Credit Cards - Scam?

Posted on January 3, 2008
Filed Under Credit Cards, Credits | Leave a Comment

 am sure you have seen the ads, they go something like this “you are pre-approved for a $10,000 credit card with no credit check”. Then, after a lot of time and energy, you find out that you are actually approved for a $200 credit line, with $180 in fees, leaving you with a whopping $20 in credit!Always read the fine print!

Unique Challenge in Building Your Credit

If you have bad credit, or no credit at all, you may not be able to qualify for a credit card. Oh sure, anyone can get a secured card. You pay a company $300, and they give you a credit line equal to your $300 deposit.

So, getting even one line of unsecured credit may be almost impossible

Without new credit being reported in your file, it is almost impossible to increase your credit score. So, not only is it a problem getting a new account reported on your report, But it can also cost you a lot of money in the long run in the form of higher interest rates.

THE FASTEST WAY TO RAISING YOUR CREDIT SCORE is having a new primary account reported to the credit bureaus. Adding a new account not only raises your high credit limit, but it also lowers your debt to “credit ratio.” These are 2 very important factors in determining your credit score.

There are companies that I use that will approve you for a $10,000 unsecured credit line, with no credit checks or deposits! Imagine what a $10,000 unsecured credit line will do for your credit score.

Donald Timms is Branch Manager and Senior Loan Officer of Equipoint Financial in Ojai California. in 2006, Donald personally funded over $200 million in residential loans. He specializes in helping Borrowers with challenged credit. His knowledge of the credit bureaus is a great help in helping his clients receive the best loans possible. Don is also the owner of http://www.creditaide4u.com, a website that helps his clients inprove their credit situation.

Repairing Your Credit

Posted on January 3, 2008
Filed Under Credit Report, Credits | Leave a Comment

Credit score repair involves techniques for removing negative items from your credit report. These are the exact same methods credit score repair clinics and attorneys may charge up to $3,500 to perform. It is also possible to outsmart creditors who are damaging your credit score.

1. Many times the creditor does not re-verify in time or the credit bureau is busy and does not handle your dispute properly. This credit record must then be deleted from your credit report.

2. Every negative credit record on your credit report can be negated by you at any time. The credit bureau must reinvestigate and if that item cannot be verified within a reasonable amount of time, that credit record must be removed from the credit file (credit report).

3. Challenged credit records when challenged can be erased by mistake.

4. The credit bureau must prove each credit record on your credit report. If this is not possible, it must be stricken from the credit report. So, if the credit bureau cannot verify the credit record when investigated, it must be removed from your credit file (credit report) even if it is true.

5. It is possible that very old credit records cannot be verified because records may no longer exist after 1 or 2 years on credit report.

Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life. Website: http://www.legalhelpmate.com Email: jeffreyb@legalhelpmate.com

When You Can Get A Free Credit Report

Posted on January 3, 2008
Filed Under Credit Report, Credits | Leave a Comment

By Federal law, you are entitled to one free credit report per year directly from a credit-reporting agency only if you certify that:

1. You are unemployed and seeking employment in the next 60 days.

2. You are receiving public assistance.

3. You believe there are inaccuracies in your credit report due to fraud

4. Also if you have been denied credit on the basis of information in a credit report, you are entitled to a free copy of your credit report from the credit bureau that supplied the credit report.

5. Residents of Colorado, Maryland, Massachusetts, New Jersey, and Vermont are entitled by state law to one free credit report from a credit-reporting agency per year. Residents of Georgia are entitled to two free credit reports.

To obtain the excellent credit report service, get FREE online Credit Report, make your Credit Score higher, avoid becoming a Victim of Identity Theft, or correct your credit visit Legalhelper.ws.

Your credit score is important for obtaining credit. Your credit score is important to know, whether you need a new credit card, an auto loan, or a mortgage. Lenders use your credit scores to decide whether you are a good credit risk. If you have a high credit score, you are more likely to obtain the best rates.

Bad credit costs thousands of dollars!

About The Author

Virginia Broobin is a financial security specialist that helps people to solve their financial issues and be happy and successful within their life.

Website: vbroobin@legalhelper.ws

Five Drawbacks Of Bad Credit Card

Posted on January 3, 2008
Filed Under Credit Cards, Credits | Leave a Comment

With a bad credit and less than perfect credit history, getting a credit card with competitive features is not that easy. In this article we take a look at the 5 major drawbacks that come with a bad credit credit card.

1. High APR

With a bad credit credit card the interest rates are reasonably higher. Forget those 0% intro APRs- they rarely come with a bad credit credit card. So, keep your credit card balances low, to stop this high APR from burning a hole in your pocket.

2. One time processing fee

Some credit card companies charge a processing fee for people with bad credit who apply for credit card. This is generally charged by credit card companies due to the credit checks, other formalities and risk involved in providing a credit card to bad credit people. If you are going for a secured bad credit credit card then this fees can be waived, otherwise it has to be paid. The catch here is that credit card companies demand upfront payment of processing fee. But, a wise credit card consumer will find a credit card company which charges the fees to the credit card not demands cash in advance.

3. High annual fee

Keeping the bad credit credit card is definitely going to cost a lot in terms of annual fees depending on the credit report it can go in hundreds of dollars per annum. Bad credit credit cards with 0 annual fees offer is very difficult to find.

4. High late payment fee

Late payment with a bad credit credit card is severely penalized. The credit card companies charge heavy late payment penalties on repayment default and are very quick in reporting the default to credit rating agencies with a bad credit credit card.

5. Lower credit limits

Since, the credit card companies face increased risk in providing credit card to bad credit people, therefore the credit limits are lower. The credit limits can be increased with secured bad credit credit card and proper repayment of credit card balances.

These 5 factors related with bad credit credit cards increase the cost of owning one. Comparing various credit card offers, especially, when you have a bad credit will help you lower the interest and fees burden of a bad credit credit card.

Duran Mueller an expert author and credit card consultant, provides great American express credit card tips. Read more bad credit credit card articles at his credit card website.

Credit and Mortgage Dictionary: A

Posted on January 23, 2007
Filed Under Credit and Mortgage Dictionary | Leave a Comment

Ability To Pay A method of working out the creditworthy-ness of a customer, by estimating how much he or she will have left to make payments on a loan or mortgage after other deductions have been made from gross income.
Acceleration Clause Allows the lender to collect the balance of a loan if a borrower misses one or more payments.
Acceptance A positive response to an offer or a counter-offer. Acceptances may be ‘conditional’, ‘express’, ‘implied’ or ‘qualified’, depending on the circumstances of the deal and whether there are any further mitigation’s, conditions or requirements.
Accident An unexpected event, usually referring to an injury or fatality, although in some accidents it is just property that gets damaged. Although some accidents are easier to prevent than others, the financial damage can be limited by taking out accident and sickness insurance, and ensuring that your car, house and other valuable property are properly covered.
Accident Insurance Insurance that covers you if you suffer certain injuries, such as loss of a limb or vision.
Accident, Sickness And Unemployment Insurance Insurance cover arranged by the borrower to protect against inability to meet mortgage payments. Unemployment cover is restricted to cover certain events only. Exclusions to this insurance include dismissal due to professional misconduct or taking voluntary redundancy. The accident and sickness cover does not cover any act of self-injury or any injury related to the use of alcohol or drugs.
Account See bank account, insurance account, credit account, trade account, foreign currency account.
Added To Loan The additional costs associated with arranging a mortgage that include a high loan to value fee or arrangement fees, which can be added to the amount you borrow. Fees that may be added vary by lender.
Additional Principal Payment An extra payment each month to help reduce a debt.
Additional Security When lending exceeds a certain loan-to-value, lenders may require additional security. The simplest form of additional security is a single mortgage loan-to-value, however other security such as cash or shares may be accepted as security.
Add-On Interest Interest a borrower pays to the lender for the duration of the loan.
Adjustment Date Date on which interest rates change for variable rate mortgages.
Administration Charge Any fee charged by bank or other financial institution to cover costs beyond day to day running of an account. This typically involves banks sending letters to customers to tell them they have gone overdrawn.
Administration Charge Some lenders will reserve a proportion of the fee charged for the valuation to cover their own costs. If an application does not proceed, this part of the valuation fee may not be refunded, even if the valuation has not taken place. See valuation fee.
Advance Amount of your mortgage/loan. See also Cash Advance.
Advice Centre A drop in centre which can offer advice on personal issues, including financial problems such as debt, unemployment or divorce. The most popular advice centres include: CAB (Citizens’ Advice Bureaux), Student Advice centres, Job centres, and some council “one stop shops”.
Affidavit A legal statement made in writing and in the presence of a solicitor or other legal professional. From the latin verb affidare; affidavit is the past tense “I have pledged”.
Affidavit Swear Fee A fee charged when a mortgage lender is required to swear an affidavit.  This is a written legal statement to a solicitor in connection with mortgage arrears.
Agreement In Principle This means you have been accepted for a mortgage or other financial product, but it will depend on issues such as a valuation report and confirmation of employment.
Annual Any payment or report which is due once each year.
Annual Bonus A bonus paid annually on an endowment mortgage which is dependent on the performance of the investment fund being used to repay your mortgage.
Annualised Percentage Rate (A.P.R) An explanation to identify the true cost of borrowing and a standard in order to provide a method of comparing costs of different loans. Initially mortgage lenders were not obliged to quote an APR due to its inappropriateness in comparing mortgage loans. APR was designed to reflect the cost of different types of hire-purchase contracts that were quoted on flat and fixed basis giving headline rates which were often half the APR. It is a legal requirement that a true APR figure be provided with any loan.
Annuity Mortgage Another term for a capital & interest repayment mortgage.
Applicant Someone who applies for a mortgage, or other financial product.
Applicant Type A method of classifying applicants by status or other market segment. Common types for mortgages applicants might include first time buyer, self employed, or buy to let.
Application The process of applying for credit, or other products. The vast majority of credit applications need to be made in writing, although it may be possible for some services, such as an overdraft extension, to be arranged over the phone. Even internet based credit applications will usually require you to sign documents before the application is finalised.
Application Fee Any charges made for an application.
Applied Or Nominal Interest Rate Rate used to calculate interest due.
APR See Annualised Percentage Rate.
Architect A professional who is employed to design plans for, or extensions to, buildings. Some modifications to your house may require the approval of an RIBA recognised Architect, in order to get approval for a home improvement loan or re-mortgage. You should always check the credentials of anyone calling themselves an Architect, as it is not possible to practice as such in the UK without being a member of the RIBA.
Arrangement Fee A fee charged by a lender for setting up the loan. Normally payable upon completion but may sometimes be added to the loan. See fee, fees added to loan, booking fee, Conveyancing fee, land registry fees, IGP, stamp duty and valuation fee.
Arrears A late payment, or a payment after the event, for example most salaries are paid “monthly in arrears” - i.e. the first payment is one month after commencement of work.
Arrears Fee Charges for any late payments. See late payment fee.
Asking Price This is the initial starting price for which the property owner is looking to sell their property. It is rare for the asking price to get paid, except in a rapidly rising property market.
Assumption When a buyer assumes the loan payments and obligations of the seller. If the purchaser defaults on the loan both the buyer and seller are responsible for the debt.
ASU Income protection cover for loss of earnings caused by accident, sickness, or unemployment.
Atrium A inner courtyard of a home or other property that is open to the sky.
Attic A space in between the ceiling an the roof of your house. It can often be converted into an extra room, significantly increasing the value of a property.
Auction The process whereby something is bought at a price that arises from a process of bidding. If you bid for and win a home at an auction you will be legally bound to buy the house.
Auctioneer A person who controls an auction.
Audited Figures These are a set of business accounts that have been ratified by an accountant. Self employed people may need to provide 3 years worth of figures checked by an auditor to be able to get a mortgage.
Australian Style Mortgage A form of mortgage where the repayment period is reduced due to interest being calculated daily.
Average The sum of any amount divided by the number count. A statistical term often used to describe financial figures, such as “average house prices”, “average earnings”.

Credit and Mortgage Dictionary: B

Posted on January 8, 2007
Filed Under Credit and Mortgage Dictionary | Leave a Comment

Bailiff A court official, who may repossess goods or property belonging to any person or business which fails to maintain their credit payments, and who does not come to any agreement to pay with their creditors.
Bankruptcy The process of declaring an individual bankrupt. Bankruptcy remains on your credit rating for seven years and limits a person’s ability to borrow.
Bankruptcy: Discharge A debtor is discharged from bankruptcy after a period of approximately three years and his debt is treated as paid, however credit referencing agencies normally identify former bankrupts for up to 15 years after their discharge.
Base Rate The minimum lending rate was abolished in 1981, and so the banks introduced the base rate, used to refer to the mortgage lender’s standard variable rate.
Basic Annual Income The annual income earned that is guaranteed regardless of the individual’s or his or her company’s performance. This is important when establishing a borrower’s ability to pay, especially for sales people, or other employees where a significant part of their salary package is made up of commissions, bonuses or share options.
Basis Point A basis point is 1/100th of 1%. For example the difference between a loan at 9.00% and a mortgage at 9.12% is 12 basis points.
Before-Tax Income An individual’s total (gross) income before taxes are deducted.
Benefit Period Time frame in which the interest rate of a mortgage is discounted. (See fixed or capped).
Biweekly Loan A loan that requires payment every two weeks, therefore reducing the term and cost.
Black Listed Colloquial term for someone with a poor credit score, originating from Gentlemen’s clubs, which used to “black ball” people they did not want as members. Technically, there is no such thing as being “blacklisted”, although some people clearly have better credit scores than others. Simply being declined for a credit application does not mean that someone is blacklisted, it just means that they do not meet the criteria for that particular institution at that time.
Booking Fee A fee charged by a lender to secure mortgage funds, payable at the time the loan application is submitted and normally applies only to special offer loans, such as fixed or capped rates. See fee, arrangement fee, fees added to loan, conveyancing fee and valuation fee.
Breach Of Contract Failure to fulfil the term and conditions of a contract.
Breach Of Covenant Failure to obey a legal agreement.
Bridging Loan Short term loan used as coverage when buying a new property before selling an existing one.
Broker A third party individual who attempts to find the best available financial or other package. Brokers could be affiliated with a larger network in finance, or they may be independent.
Broker Fee A fee charged by an intermediary to the applicant for negotiating a loan. If a loan has not completed within 6 months of the date of introduction to a lender, the maximum fee that a broker may retain is £300, under the Consumer Credit Act.
Brokerage Term used to describe the act of a broker.
BSA Trade organisation for building societies - the Building Societies Association.
Building Society Building societies are mutual organisations owned by their members and regulated by the Buildings Societies Act. The Building Societies Commission lays down restrictions on their lending criteria, so they are less able to help with certain categories of loans.
Buildings Insurance An essential insurance policy which covers the structure of the building. Where the property is leasehold the buildings insurance will normally be arranged by the freeholder and the cost charged on to the leaseholder within the service charges payable. See uninsurable, contents insurance.
Buy To Let Mortgage A mortgage for a property which the owner intends to let out to students or other tenants. See commercial mortgages.
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