3 Good Reasons to Consider a Short Term Loan

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Individuals who may be considering a personal loan may be daunted by the situations that may work against them, but there are other aspects that may work in their favor. Personal loans are short term loans which means people can get their hands on some well needed cash much faster than if they opted to try for a regular loan. There are a variety of sources from which these loans can be obtained. Here are three good reasons you should consider getting a short-term personal loan. 

1. It is a Viable Option for Building Credit 

High risk loans are potentially more harmful to a credit score. Short term personal loans are high risk loans because they are not secured against an asset. While defaulting on such a loan could be detrimental to your credit score, paying it off will on the other hand result in an immediate credit boost. Paying off short term personal loans is especially beneficial because you can receive a credit boost in as little as a few months when the loan matures. A high credit score can help you to save on credit. Short term loans may come with a high price tag, but they can help you to quickly boost your credit score. 

2. They Can Protect Your Credit 

Short term loans are not only good for saving bad credit, but people also use it to protect their credit score. You may have a very good credit score and wish to keep it that way so that you are save any hassles later on. A short term loan can save you from getting a black mark against your credit score because of a late payment. Use the loan to keep your payments up-to-date. 

3. With Short Term Loans You have Flexible Terms 

The terms that are available on short-term loans are attractive, and therefore appealing to many borrowers. With this loan you will be working with a shorter time frame which essentially allows you more options when it comes to the terms of the loan. One such option is the balloon payment which is commonly associated with short term loans. With this payment option you will only have to pay the interest rates on a monthly basis, and then pay off the balance at the end of the loan. This will give you more flexibility with your monthly budget. 

Overall, you should consider getting a short term loan because they are unsecured, and if you do not default, the high interest rates they carry will be well worth it. You will have the cash in your account in a short time, also see your credit score increase in a very short time. As was mentioned before, these loans are not only a savior for bad credit scores, but they can be used even if your score is good and you need to protect it by ensuring you do not default on other credit payments. There are no limits on what you can use the loans for so that is another bit of flexibility. 

Author Bio: Peter Coppola, an independent researcher and financial expert. He enjoys sharing his tips and insights on various personal finance blogs. Find out more about Easy Finance short term financing options.

Navigating the Decision to Get a Personal Injury Lawyer

If you've been injured because of another person’s negligence, such as in a car accident, you need the help of a lawyer to get the compensation you deserve. The other party’s insurance company does not hold your best interests at the top of their priorities; however, they would like to settle with the minimum amount of loss. It’s difficult to stand up for yourself in court against insurance companies and people who aren't willing to compensate you fairly. That’s why you need someone experienced to do it all for you. 

Important Qualities of a Personal Injury Lawyer

When you are looking for a personal injury lawyer, you want to carefully screen them for your needs. It’s always a good idea to search by locally or by county. For example, say you were searching for an Orange County Personal Injury Attorney, here are a few qualities that can help you narrow down your search:

• Experience: The most important quality to look for in a personal injury lawyer is the years of experience as a lawyer. More experienced lawyers are typically better because they have dealt with several cases in the past. You want a lawyer that has experience is various kinds of cases with varying circumstances, as it will increase his expertise in an assortment of different situations. 
• Compensation Structure: You should never pay any money upfront for the services of your personal injury lawyer. You should pay based on the settlement you receive from the case at the end. This is the best compensation structure for you because you don’t have to worry about the cost during the proceedings. 
• Attitude: There are lots of different personality types, so you want to choose a personal injury lawyer that has an attitude and personality that gels with your own. For instance, you probably don’t want a lawyer that is going to sugar coat everything for you — you want someone that is optimistic, but tells you how it is. 

What Does a Lawyer Do?

A lawyer is your personal advocate. He or she works with you closely to build your case. Your lawyer helps you file all the required paperwork for the court system and handle negotiations about settlements. Your lawyer is there to take the burden off your shoulders and get you a fair compensation.

In some cases, you may even want to hire a team of lawyers to handle your case — either way, it is better than having no lawyer at all. Some people try to handle their cases alone because of the price of a lawyer. The interesting thing is that lawyers tend to get people more money, so you have to weigh the cons and benefits of having one before proceeding without one. If you have a strong case, hiring a personal injury lawyer can make thousands of dollars difference in your compensation.

So, if you need a lawyer, search for one with the qualities mentioned here. You will make more money from your case and enjoy a much smoother process with the court system.

Emergency Preparations - Are you Financially Ready for Emergencies?

Are you prepared for an emergency? You need to be financially prepared for emergencies, or you will end up taking a hard financial hit. 

Here are some things to consider when it comes to financial emergencies:

1. Is your insurance coverage going to be sufficient? Are you a homeowner? If so, do you have adequate coverage for your house and contents? Do you live in a flood-prone area? If so, it’s possible you will need a separate flood policy, as most regular homeowner’s policies don’t cover damage from flooding. If you rent your home privately or from the council, tenants insurance could be a sensible option. While some council housing may come with a certain amount of tenants’ coverage, it can vary, and hardly ever covers the cost of even half your household contents. Your best option would be to use a comparison site to find a tenants insurance policy which you should be able to find for less than twenty pounds per month.

2. Are your financial records in a safe and secure location? The Red Cross recommends you keep at hand a “disaster kit,” a portable, waterproof, fire-resistant box that you keep nearby at all times, it should contain:

• Home improvement records 
• A record of all your possessions 
• Warranties and/or receipts for major purchases 
• Evaluations of jewellery, collectibles, artwork, and other valuable items 
• Credit card records or at least your account number and login information 
• Retirement account records or account number and login information 
• Recent current, savings, and investment account statements or account number and login information 
• Tenancy agreement, lease and/or mortgage documents 
• Recent pay slips and any employee benefits information you may have 
• Backups of important digital information, such as any accounts etc. 
• If you have one, Safe deposit box information such as the location, contents, and key 

Also you might want to keep a copy of your will and any solicitors documents you own.

3. Do you own any dispensable cash? It’s a good idea to have some cash hidden in a safe place, because bank card readers and cash machines won’t be working if the power goes out. Maybe if you have a cheque book also keep some blank checks (unsigned) with you.

This article was contributed by Frank Sexton on behalf of BadCreditPersonalLoans.co.uk. They specialize in providing low rate bad credit loans and also love sharing financial advice through different blogs.

How Can International Tax Affect Me?

Taxes (Photo credit: Tax Credits)

International tax can have a significant impact on you and your income. For UK taxpayers, it’s important to remember that how you’re taxed, and at what rate, is determined by whether you’re a resident of the UK, or a domicile, which affects your worldwide taxation. Other factors can involve how much businesses have to pay in terms of capital gains and remittance, as well as how investments and offshore accounts are handled. It’s also worth remembering that there are options for protecting foreign income, or using offshore accounts to manage income from within the UK. 

Anyone who’s a UK citizen, and is resident in the UK for half or more of the year, and pays income tax and National Insurance Contributions, is considered to be resident, and pays tax on their worldwide income. You can also be ordinarily resident, where you spend around 91 days a year in the UK over four tax years, and can be liable to more tax. By comparison, you can be domiciled in a particular country if you move between them, whereby you can be born in the UK, but domiciled somewhere else for tax purposes - this is typically defined by your parents’ domiciled at your birth, or by moving abroad and choosing a new country as your ‘domicile of choice’. How this is defined is often dependent on your personal situation and HMRC’s judgement. 

People that can be resident in the UK can therefore be domiciled elsewhere, and avoid paying UK tax on income or capital gains that are made outside the country, so long as it is not brought into the UK. Being non domiciled means that you avoid paying inheritance tax at UK rates on non-UK assets. There are situations where you can pay double tax on income brought into the UK, at which point it’s important to register your residency and domicile of choice with HMRC. Businesses can take advantage of not being taxed on their international income by registering as non domiciled, as long as it is not remitted into the UK. When this occurs, high earners often pay a fixed remittance charge for this income. In the last few years, HMRC and the UK Government have been trying to make it harder for individuals and businesses to claim non domiciled tax registration without justification. 

Other ways of protecting international earnings include making investments from abroad into the UK, whereby a remittance charge may not apply. Some exemptions might also be made on securities in European bonds. Moreover, there are cases where UK income can be invested in overseas schemes and tax havens through registered foreign companies, meaning that income does not technically be paid out within the UK tax systems. Whether you have a domicile in the UK, as well as whether you or a business are considered a resident or ordinary resident will affect eligibility here. It’s clear, then, that you stand to be affected by international tax if a proportion of your income is made outside the UK, with your legal status as a taxpaying individual or business having perhaps the strongest impact on whether you will pay more. It’s recommended that you seek advice on how your non-UK income can be handled, and whether you can benefit from both exemptions on remitted income, and from legal offshore accounts. 

Author Bio: Liam Ohm writes about tax. He highly recommends Faulkner International for information on company formation. In his spare time he enjoys reading and networking.

Car Financing for the 50 Plus Driver

Getting a car at any age can leave a massive hole in your wallet. Getting a new car is often out of the question, especially when you’re over 50. So you should choose carefully. Even without the option of buying a new car, there are a lot of great used cars out there, which are practically waiting for you to get them. There are always ways to finance a car that will leave both your wallet and your retirement funds seem almost intact. In this article, we will look at different options to car finance. These should come in handy as you make the decision on purchasing your car.

Borrowing from friends

Borrowing money from a bank may not be the best option when you’re 50, not to mention the interest they charge you. It’s not really smart to pay interest for a car. But unlike banks and professional lenders, your friends can lend you money, without charging any interest. Also, a friend wouldn't mind if you were late with the monthly payment. But always make sure you can afford to pay them back before you borrow!

Be persistent

Even if you’re able to borrow from a professional lender, at 50 it becomes a tougher option. But don’t give up on getting a new car for yourself or your family just because one of them turned you down. Be persistent. As you wouldn't apply to just one job if you’re jobless you shouldn't apply to just one lender when it comes to car loans. You will have to fill a lot of loan applications, answering a lot of questions, about your income, employment history and expenses. But whatever you do, do not misstate any information you are stating in the application. All of those applications go through a verifying process, and not telling the truth may put you in real trouble.

Know your credit

It is best to check where you stand before you actually get a loan for a car. You might be able to put your hands on a car loan no matter whether your credit is good or bad. But the difference is that the worse your credit is, the more you will pay. Loaners and banks have the ability to easily repossess your car if you can’t pay for the loan.But, you will be “lucky” to get a car loan if your credit isn't shiny.

Money for Down Payments

This is the trickiest part of buying a car. But you do have a few options. Chances are, that at age 50, you have to dip into your retirement funds to get those approximately $1000 to put down as the down payment when buying your new car. But, that doesn't have to be the case. A better option would be that you try to trade in your old car for a down payment.However, trading in your car as a down payment may not always be worth it, and you will most probably get more cash if you sell your old car yourself. But sometimes, if you know your old car’s value and the trade amount is approximate to the car’s value, this could be the option that you use. Otherwise, like mentioned above, you could always borrow some money from your friends too so you raise the money required for the down payment.

Be there with cash

Please beware that many dealers may find a way to manipulate you, or get you to sign one of their high-interest loan deals. That’s why sometimes it is better to get a loan from a bank or a credit union. They will usually take lower interest, and offer you better deals than the average car dealers. Though, that is not always the case.

In case you are really tight with money, you can always turn to finance companies. Even with sky high rates and really bad terms, you can turn to them if you have no other choice.

But to avoid making such harsh deals, in the very worst situation, the best option for you would be to tap into your retirement funds so you can raise the cash for the down payment, and a small bank loan.

Commercial Car Insurance: What You Need to Know

Having commercial auto insurance is essential, particularly if you use your vehicle for your business, or you drive a company vehicle to the workplace. When it comes to this type of insurance, both the employer and employee have shared responsibilities. This article will discuss how commercial auto insurance protects business owners and employees in the event of an accident, and the types of coverage for commercial driving. 

Importance of Commercial Car Insurance 

If you're a business owner with employed drivers for transportation or delivery purposes then having a commercial auto insurance is crucial for your business. Most states require business owners to purchase a specific amount of commercial liability insurance. Having a commercial insurance policy protects your business from any financial responsibility in case a car accident occurs involving your company drivers. 


On the other hand, if you're a commercial driver, you may also want to consider getting this insurance. Ask your employer about the extent and limitations of the commercial insurance carried by the business. Furthermore, inquire about the types of coverage included in the policy. 


Commercial insurance policies can include comprehensive coverage, collision coverage and uninsured/underinsured motorist coverage. 
Once you know what the business' insurance policy encompasses, you can make a better decision on what additional insurance to purchase for complete protection. 

Don't Put Your Personal Coverage at Risk 

Using your personal car for business purposes can endanger your insurability. If your insurer finds out about it, the company can choose to cancel your insurance policy. Even just making a delivery can be grounds for policy cancellation since the usage of the car is related to your business operations. Moreover, when an accident occurs while you use a personal vehicle for business reasons, the insurance provider may reject your claim. Thus, it's best to purchase commercial vehicle coverage instead of risking your own personal auto coverage. 

Types of Coverage Necessary for Commercial Driving 

States have varying requirements when it comes to business vehicle insurance. The minimum liability insurance required depends on your location. Make sure that you check your state's requirements. Here are other types of commercial insurance: 

Collision Coverage 

This type of coverage pays for damages due to collisions. For example, if your business car crashes with another vehicle, road sign, mailbox or any other stationary object, then your collision insurance will cover the repair expenses. 

Comprehensive Insurance 

This covers damages caused by theft, vandalism, weather conditions and natural disasters. If your commercial car travels through areas with harsh climates or you are driving or parking in unsavory neighborhoods, then you should consider getting this type of insurance coverage. 

Underinsured and Uninsured Motorist Coverage 

This financially protects you when car accidents occur involving underinsured or uninsured drivers. For instance, if you get involved in an accident that results in $100,000 worth of repair expenses, and the underinsured driver only carries $50,000 worth of coverage, then your insurance policy will cover the remaining half. Underinsured/Uninsured motorist coverage is very important considering that there are lots of drivers on the road today who don't have adequate insurance. 

Purchasing adequate commercial auto insurance is a good measure to protect your business. It's advisable to buy more insurance than your state's requirements to ensure that you're well covered. 

Richard Ackerman has worked in the auto insurance industry for many years. He enjoys offering advice on the subject by blogging for car and personal finance blogs.