Financing a car for your teen

If you received a call from a friend asking you to bail him or her out of jail, the first thing you would probably think about is determining how to come up with the money needed for this. Bailing someone out of jail will require paying a cash deposit, and the jail will release the person once the amount is paid in full. If you have never done this before, here are some tips to help you understand the process of bailing a person out, as well as information on how a payday loan could help you with this situation.   Find Out the Amount After your friend asks you to bail them out, you will need to call the jail to find out how much money you will need. To get this information, you will need to give your friend’s name to the person you speak with and ask how much money the cash bond will be. This amount can vary by two things: the severity of the crime, and your friend’s criminal history. If the crime was non-violent in nature, the bond amount may be around $500. Get a Payday Loan to Pay the Cash Bond Once you have the information you need from the jail, you may need to figure out how to come up with the money needed to accomplish your goal. If you have cash on hand, you could simply use that. One of the best, most convenient, and easiest methods to use for coming up with bail money is applying for a payday loan. If you have a job, getting a payday loan is very easy to do, and you do not need good credit to get approved. In fact, most payday lenders do not even pull credit reports on applicants. When you apply for a payday loan, it’s important to understand how the fees work so you can make sure you receive enough cash to pay the bond amount. In many cases, a payday lender will charge around 15% for a payday loan, and this amount is taken off the total amount of the proceeds. For example, if you take a $500 payday loan, you may only receive $425, because they may take $75 in fees right off the top. Because of this, you may want to apply for a $600 payday loan if you actually need $500 cash. With a $700 payday […]

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Running a trucking company can be a great way to earn a living; however, most trucking companies face challenges when it comes to cash flow. This is typically because a trucking company is offering freight services each day of the week, but the customers paying the freight usually have 30 days or more before they are required to pay their bills. This is why a lot of trucking companies turn to factoring services. Here are two main benefits you should consider if you are thinking of using accounts receivable factoring. You Will Not Have To Worry About Collections The main reason companies use factoring is to eliminate cash flow problems, but a second major benefit of factoring accounts receivables is the relief it gives you for collecting the money owed. While most of your accounts may pay their bills on time, there may be certain customers that do not. When customers fail to pay on time, you will have to spend your time making phone calls or writing letters to send to them. Not only is this a time-consuming task, but it can also make things more stressful at work. Instead of spending your time managing these accounts, you can close them out by selling them to a factoring company. When you factor, you turn over your accounts to a different company. After this happens, the factoring company becomes responsible for the collections of your accounts. In return, you will pay a percentage of your accounts to the factoring company. This percentage varies, but it is often 1% to 5% of the account balances. When you decide to factor your accounts receivables, you will get cash right away. You can choose to factor your accounts every month, or you could do it weekly if you would like. If you factor every account you have on a regular basis, you will have a steady cash flow coming in. Each time you factor, you exchange your accounts receivables for cash. Doing this weekly will keep cash flowing in on a weekly basis. You Can Keep Your Customers Happy Paying the percentage to a factoring company may seem like a big expense, but it really is not when you consider the benefits this offers. Factoring is the only way to keep your cash flow moving without borrowing money, and it will help keep your customers happy, because you can continue offering 30 days […]

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While cash advance loans may have a bad reputation, there are times when it makes complete sense to take one. A good example of this is if you realize you made a mistake in your checking account, and the result of your mistake will be bounced checks. In this situation, taking a cash advance could help you save a lot of money and headaches. Here are three things to consider about this situation and using a cash advance to get you through. How Overdrafts Occur Managing a checkbook takes time and accuracy, and it can be easy to end up with an overdraft charge if you make a simple mistake. Anytime you spend more money than what is in your account, you can end up overdrawing your account. Unfortunately, overdraft fees can be extremely expensive, which is why you should try to avoid overdrawing your account. Accidents happen, though, and you might realize that your account is about to overdraw before it actually does. In many cases, banks run credits before debits when balancing accounts during the day. This means that all your deposits will get added to your account before your checks and withdrawals are taken out. If you look up your account balance and see that it is currently negative, you might have until the end of the day to make a deposit to avoid paying overdraft charges. If this is the case, you will need to find a way to get some cash fast if you want to avoid paying the overdraft fees. The Cost of Overdrafts Finding a way to cover the negative balance in your account is important, because overdraft fees are very expensive. The average overdraft fee is $27, but your bank might charge even more than that. On top of that, this fee is something that banks charge per item. In other words, if you made a simple error in your checkbook that caused three different checks to bounce, you will most likely receive three overdraft fees. At $27 per transaction, you could end up owing $81 just for the mistake you made. You should also realize that most banks will charge an additional fee each day when an account is overdrawn. This fee is usually between $5 to $10, and there is no limit to how many days the bank will charge this fee. Another point to remember is that if your […]

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If you’ve recently received a late payment notice or notice of default from your mortgage lender, you may be wondering what to do. Once you’ve fallen behind on mortgage payments, your lender may begin tacking on late fees, legal fees, and other costs that can make it impossible for you to catch up. After a certain point, your lender will stop accepting your monthly payments until this past due amount is paid in full. Reinstating your mortgage can ensure that you’ll avoid most of these fees and continue with a clear title to your home. Read on to learn more about some short-term loans that may provide you with the funds needed to catch up on past due mortgage payments. How long do you have to reinstate your mortgage? Although your lender may stop accepting your monthly payments once the amount past due exceeds the amount of your monthly payment, you do have the option to reinstate your mortgage at any point before 5:00 p.m. on the last business day before the foreclosure auction of your home. This reinstatement amount will include the total of your past due payments, plus any late fees, additional interest on the late amount, legal fees, costs of force-placed insurance, and/or costs of inspecting your home for vacancy. It’s important to get a reinstatement amount from your mortgage lender and pay this amount by the deadline prescribed in this letter. After this time elapses, your reinstatement amount will increase. What short-term loans are available to help you repay your mortgage? If falling behind on your mortgage was a temporary blip in your finances and you’re ready to start catching up, but are still falling a bit short in the savings department, you may want to take out a short-term loan to help repay your past due mortgage amount. Because it’s important to reinstate your loan as quickly as possible, waiting for bank approval for a private loan can be a lengthy and difficult process. This is especially true if your credit score has fallen due to the late mortgage payments. These short-term loans are often available for those with bad credit and can provide nearly instant cash. Paycheck advances If you have a job or earn regular income, you can borrow against future income by requesting a paycheck advance. When you visit a paycheck advance store, you’ll need to provide proof of employment and weekly […]

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No one knows better than a personal injury attorney how long the road can be between accident and settlement or judgment for your clients. If one of your clients is dealing with financial difficulties resulting from their injuries, they may seek your help in obtaining a lawsuit loan – a loan based on the settlement or judgement that they’re likely to receive when the case is over, instead of on their credit record and personal financial history. As their attorney, you’re in a position to help your client make smart financial decisions and guide them through the process. Here are some things for you to consider when faced with a client who is seeking a lawsuit loan. Is Your Client A Good Candidate For A Lawsuit Loan? Plaintiffs have to meet certain criteria to be considered for a loan by a lawsuit financing company. They have to be represented by counsel, they need to have a strong case with a high likelihood of winning, and you, the attorney, will need to be available to provide details to the financing company. Before agreeing to help your client obtain a lawsuit loan, you should look at another type of criteria: why do they need the money? If your client needs money to pay past-due rent, prevent a foreclosure, pay utility bills or buy food, or if they need money to repair damage or pay for ongoing medical treatment, they are probably good candidates for a lawsuit loan, especially if there are no other sources of funding available to them. If they are not in serious need of funding, or if they have lower cost funding options, you should advise against a lawsuit loan. Will A Lawsuit Loan Strengthen Your Client’s Case? As an attorney, you will have to weigh certain ethical issues before advising your client to go ahead with a lawsuit loan. One concern is that alternative litigation funding might constitute a breach of attorney and client privilege because of the case details that you’ll need to provide the loan company. This is admittedly a sticky issue. However, for many personal injury cases, you will only need to provide information that would be discoverable by the defense in any case, like accident reports and medical records. At the same time, you have to consider that a lawsuit loan may strengthen your clients bargaining power. A client who is strapped for cash […]

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About Me

Do you have a teenager approaching the driving age? Do you like the idea of your kid taking off with your car and leaving you home unable to go places? You are probably beginning to think about your son or daughter driving your vehicle. I worried about the condition of my car after my son was done driving it, so we decided that it was in our best interest to take out a loan for a car for my son. Although our budget was tight, we thought that it would be better for him to drive a cheaper, not-so-nice car so I could maintain the value of my own. Learn how we found the affordable financing options for our son's car so you can do the same for your teen.

August 2016
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