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The 5 Safest Ways To Use Short Term Loans

Whatever your reason for applying for a loan, it is absolutely essential that you fully understand the agreement into which you will be entering.

The consequences of entering any personal loans bad credit agreement with your eyes closed could never be described as ‘advisable’ and this is certainly the case with anything related to finance in any way.

If we were to believe the adverts, we would all be signing up for a payday loan and waiting for the end of all our problems!

Covering Our Backs

Without asking all of the right questions before taking out a loan we can open a-lady-running-away-with-a-large-credit-cardourselves up to all kinds of negative consequences in the future.

A recent example of these was highlighted when controversial payday loan firm Wonga wrote to its customers implying that taking out one of its loans offered the ability to “do wonders” for their credit ratings.

The Guardian recently explored the controversy surrounding payday loans in their article – What is a payday loan – and why are they so controversial?

The following video also takes a look into the dangers associated with payday loans.

Reality Often The Opposite of Perception

The reality however can often be quite the opposite due to the fact that many a-man-carrying-a-huge-coinlenders now view the fact that you have used a payday loan as a huge red flag indicating a sign that you have been in financial difficulty.

Wonga’s email to customers says: “Repaying your Wonga loan on time does wonders for your credit rating!”

While the Wonga statement does not specifically state that applying for a payday loan will definitely help to boost your credit rating, the implication is there for all to see.

What Does It Fail To Mention?

By placing the idea of boosting credit ratings (something very important to lenders) it fails to mention, or warn customers, that a record of taking out a payday loan can make you look unattractive to other lenders.

This is because they may see you as being financially stretched, given payday loans are aimed at those with short-term money problems. With one, you usually borrow a few hundred pounds and pay it back a few weeks later.

For more on this story please check out the Daily Mail’s story – Wonga ‘sorry’ for sending emails implying that its loans could ‘do wonders’ for people’s credit rating

The 5 Key Ways To Use Short Term Loans Safely

With so much bad publicity surrounding certain short term loans, there are 5 key aspects of borrowing that you must keep in mind if you wish to limit the potential for costly mistakes.

Our 5 keys to safe short term loan borrowing are as follows:

  • Only Apply For Loans Without Fees
  • Choose Loans Which Can Be Repaid Early Without Additional Charge
  • Choose a Loan Which Will Be Credited To You Quickly
  • Stay Away From Secured Short Term Loans
  • Apply For Fixed Rate Loans Wherever Possible

Tip – Stay away from payday loans!!

Don’t Pay Unnecessary Charges

Depending on whether you are going to a-man-running-with-a-large-banknote-and-a-ball-and-chaingo directly to the lender, you may be charged a fee for going through a broker when setting up your loan. This is something that you must factor into your decision making process.

In the possibly unlikely scenario of you wishing to repay your loan early, some lenders actually charge a fee if you wish to do this and it is important to ensure that you know whether your lender falls into this category.

How Quickly Will The Loan Be Made Available?

Although personal loans for a bad credit rating are designed to be repaid over a shortened period of time, it is also important to know how quickly the balance will be made available to you.

Some lenders, such as those offering guarantor loans often make the balance of the loan available within just a few minutes of the loan application being granted. How quickly do you need the loan to be available for you?

Do You Really Want To Offer Security?

Will your lender expect you to put up anything of value as security against the balance of the loan, such as a car or even your house? This is obviously a very risky proposition and should be avoided wherever possible.

Making Sure That You Know Where You Stand

Fixed interest rates are absolutely perfect if you would like to be able to accurately budget throughout the duration of the loan.

For more information relating to fixed interest rates please click here.

Do Your Homework

Whatever the size and type of lender you opt to submit your application to, you must make sure that you ask any relevant questions before you submit your application because once things have been agreed, it will be too late to make any changes then.

For more information, visit LIREC.org

Getting Your Hands on The Best Short Term Loans

Despite the fact that there are more different types of loan currently available than ever before, getting your hands on cash for a short time, can often prove to be a little tricky if you want to avoid the pitfalls associated with payday loans.

Banks thrive on locking us into loans for years but if you are prepared to look at slightly less conventional lenders, realistic options definitely are there.

Choosing The Right Option

Loans always used to be fairly inflexible products, lasting years not months, with penalties for early repayment. With a new breed of ‘short term loans bad credit’ lenders flooding the market, this is no longer the case and as borrowers, we have never had more choice than we do currently.

However before even thinking about what type of loan will best suit your circumstances there are 5 questions which you must first be able to answer – be honest!

5 Questions To Ask Yourself

  • Do You Actually Need The Cash?
  • How Much Do You Need To Borrow?
  • How Long Would You Like The Loan To Last?
  • How Much Can You Afford To Repay?
  • Is My Current Credit Rating Acceptable to Most Lenders?

Loans should only ever be used in emergencies a-man-weighed-down-by-a-fiancial-ball-and-chainand never to pay for luxuries, so if you find yourself pondering the first question for too long, there is every chance that you do not actually need the loan in the first place.

As a rule of thumb, loans will always work best for you if you only look to borrow the minimum amount that you need over the shortest possible period of time. You should also make sure that you do not find yourself in a position where you are stretching yourself too thin in a financial sense.

The last question relates to the current state of your credit rating. Your credit rating will play a pivotal role when applying for a loan and because of new lending policies, banks and building societies are likely to reply with a ‘computer says no’ response if your credit rating is not of the required level.

Finding The Right Lender

Once you have asked yourself the questions above and are certain that a loan is the right way for you to move forward, the next stage is to find the right lender.

With so many price comparison websites currently in existence, much of the homework will be done for you and you will quickly be able to find out which are the cheapest loans available to you.

For more information regarding price comparison websites please click on the following link – http://en.wikipedia.org/wiki/Price_Comparison_Websites

Guarantor loans

Escaping From Financial Trouble – The Guarantor Loan Way

With the constant barrage of bad weatheran image of scissors cutting up credit cards facing the UK over recent times and the 24/7 coverage on the television, it is not difficult to imagine what would happen if your home felt the full force of nature. Sometimes, regardless of how prepared that you may believe that you are, something happens which is absolutely beyond your control leaving you to find an immediate influx of cash to rectify the problem. If you are fortunate enough to have savings to dip into this may not be too much of an inconvenience. However, if this is not the case, you will be faced with a huge problem.

Make Sure To Take in the Bigger Picture

Emergencies often come as a boltsomeone balancing their chequebook from the blue but if you are making a substantial investment in something such as a house or a car, it is essential that you consider any future risks to your finances. When looking to purchase a house, you must factor everything that you can into your thought process. With so many houses prone to flooding at the moment, is the house located near water or on a steep hill, for instance? Is there a high crime rate? Are businesses closing nearby? These are all things which could involve your finances, either directly through needing to pay for repairs etc, or through loss of value in your property itself. This also applies to buying a new car. Does it have all of the necessary safety features? Will it be parked in a safe area? If the answers are no, you may have trouble waiting for you ahead.

Have You Got An Emergency Fund?

All it takes is one emergency or unforeseen situation to create a deep hole which may be difficult to get out of. If this is the case it is very important that you have a financial ‘safety net’ of money in place to help you pay for emergency repairs or similar. For more information on building an emergency fund – http://www.investopedia.com/articles/pf/05/emergencyfund.asp

How Much Should I Save?

There are a variety of different thoughts regarding how much you should aim to save. Whilst some people suggest that you have between 3 and 6 months’ worth of essential expenses behind you, other says £1000 should be enough to see you through some situations until other arrangements can be made. However you view emergency funds, if it is at all possible, you should ensure that you have one in place which will allow instant access should you need it.

Plan Ahead

Keep an eye on current affairs, the local news and the weather reports daily to ensure that you don’t miss anything important. You may need to take precautions if a big storm is on the way, for instance, and the more pre-warned you are, the less likely it will be that you or your property will come to any harm.

Alternative Options

Whilst the idea of an emergencya hammer smashing a piggy bank fund is a great one, not everyone is lucky enough to have the disposable cash needed to make one. If you find yourself in this situation and need cash quickly, the loans available from www.solution-loans.co.uk could offer the ideal solution. Available for sums of up to £10,000 repayable over up to 5 years, they will typically be granted to applicants regardless of their credit history, so long as they have someone willing to guarantee the repayments. Therefore even if things seem bleak in the time of a financial emergency, it is important to remember that realistic options still exist.

For more information on guarantor loans UKhttp://www.independent.co.uk/money/is-a-guarantor-loan-right-for-you-8500128.html

If you would like any further information regarding how these loans for bad credit can help you, please view the video below.

Online Advertising

Online Advertising For Small Businesses In Kent

Small businesses in Kent should be thinking about social media’s value to them, especially since most big businesses are seeing a lot of results therein. In fact, today, 94% of businesses are using social medial for marketing. Of this 94%, 73% are using social media and social ads. Every year more businesses are seeing that they should be spending their time engaging in social media. There are many benefits that small businesses can reap from doing so as well.

Drive New Business Thus Increasing Sales

Crowdspring says that 50% of small business owners have reported gaining new A picture of a laptop and a pile of paperscustomers through their use of social media, especially whenever they were using Facebook and LinkedIn. As far as statistics go, LinkedIn themselves reported that 82% of businesses say that this is an effective way for them to generate leads. HubSpot has also done a report on the state of inbound marketing stating that 77% of B2C and 43% of B2B businesses have acquired customers via Facebook.

Increase Brand Awareness

The majority of decision-makers in business today report using social media and the majority of consumers go online to check out social networking sites prior to making a purchase. Clearly, you can see here how social media content marketing really does work to improve brand awareness.

Better Customer Service and Relationships

It used to be really difficult for a business to build relationships with its customers until social media came about. Now this is the best way for small businesses in Kent to not only build relationships but to also get consumers to engage with their brand.

Social Medial Lends Credibility to Businesses

It’s interesting to note that the majority of Facebook users say that a recommendation from one of their friends on Facebook would make them more likely to purchase a specific product or visit a specific retailer.

Social media channels can also be used to create links back to your website. To find out how, please take a moment to look at the following video

The Ability to Target Your Audience

What a lot of small businesses in Kent don’t realize is that they can actually use social media advertising to target specific zip codes, keyword and demographics. This is important because today approximately half of the population has a social media profile.

The Ability to “Own” Your Audience

Running tradition media advertisements (i.e. newspaper, television, radio) no longer makes much sense today. Instead, you’ll find a more highly targeted audience by using social media. While this may take a bit more work, it’s like any other asset that’s worth having in that the investment will pay off in the end.

Increased SEO Leads To More Online Traffic

While iMedia did a study that showed that 71% of businesses reported that content marketing helped them improve their website’s rankings, this actually improved for small, local businesses. In fact, Balihoo did a study showing that 91% of people use Facebook to find local businesses.

The Ability to Actually See What’s Being Said about Your Business

With social monitoring tools and some research you’ll be able to see what your customers are actually saying about your business. This is a tool that many successful businesses are using today as the information they gather really can help them to enhance their relationships with their customers.

Competitive Intelligence

Would you like to know what your competition is really up to? Advice from an SEO expert Kent will help you to use social media monitoring to track them. This means there won’t be any more surprises for you along the way.

Better Customer Service

Social media lends itself to better customer relationships, your brand being more likable and the ability to instantaneously get feedback from your clients. Of course, it does take a little work because most people aren’t going to want to make a purchase from a company who doesn’t answer the questions or complaints that make their way onto the company’s Facebook page.

The Bottom Line

Ultimately, social media is a necessity for any successful business today. Fortunately, if you’re too busy or simply not comfortable using social media, there are companies who can do the work for you. Regardless of how you do it, no small business should be without a social media presence today.

The following Forbes article goes into great detail regarding the importance of social media or small businesses – http://www.forbes.com/sites/danschawbel/2014/05/21/larry-weber-why-social-media-is-important-for-startups/

 

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