Having a killer business idea is not enough to start a business. ‘Finance’ is the key factor that is required to start any kind of business ― a small business unit or a medium size one. Take time to pen down the various sources/options for financing your venture. This would give you a vague idea regarding whom to approach for a loan. You should also consider how and when you plan to repay the same.
There are certain things that you need to take into consideration, while applying for a business start up loan. First and the foremost thing is to check your credit report. If you have a bad credit history, repair your credit first. A bank or a financial institution will lend you money at a higher rate of interest, if your credit rating is poor. Instead of paying a higher rate of interest, it is wise to improve your credit score, and then approach a financial institution.
You can finance your new business by using some amount of money from your savings. Another source is to borrow from
Though it has been a long time since the sub-prime crisis, people are still reeling under its after-effects. People who are in dire straits and need a loan desperately have a ray of hope as they can still avail low credit score loans. These are specially designed for people with low credit score. There are several companies which let people avail these loans by putting collateral up against them. These can be taken by anyone who has a bad credit history.
Today, lenders have realized the fact that not everyone applying for a loan will have a fabulous score. People used to have a bad score in the past as well, but, due to recession, many people were left unemployed, which in turn made it difficult for them to pay off their existing loans. This impacted their credit score and there are a lot of people who haven’t recovered yet.
The best way to apply for these loans is through online websites of different financial companies. Most people prefer this way of applying for a loan, as it helps you to compare the interest
Abraham Lincoln once said, “Discourage litigation. Persuade your neighbor to compromise whenever you can. Point out to them how the nominal winner is often a real loser, in fees, expenses, and waste of time.” Business debt relief is structured on the same concept. Business debt troubles can arrive at any time and in various degrees of crunches. They can arise due to delays in production, unexpected market fluctuations, product demand deficiency, or even due to mismanagement of funds. Whatever the reason, business debt is an unavoidable way of life for businesses. Yet, there are many relief options, ranging from the simple to the most complicated. Often though, bankruptcy is seen as the last and only choice. However, it spells the end of the business, so this option is not always the best one. Let us look at the reasons for looking at other options and also at the things they entail.
Bankruptcy as an Option
Though it may sometimes seem that there is no hope for your business, and maybe bankruptcy is your best available option, this may not necessarily be true.
Education is the main step for a successful life and students need funds for further education. Funds are required to pay college fees, hostel fees, books expenses and other costs. Lenders usually ask bad credit students for collateral or a co-signer for approving a student loan. Students also end up paying a high interest rate for availing a student loan. A student with bad credit, who has faced problems in applying for a student loan, can use ‘loans for bad credit’ to help fund their education.
Student loans for bad credit can help them get the education to grow in their careers. A student who has passed high school recently has no credit rating. And so, lenders never consider credit rating as a basis of granting bad credit loans for students. In fact, the approval time of the loan is much faster and easier, which makes the loan easy to get. So, student loans for people with bad credit are, not only easy to get, but also, easy on the pocket as they come with low interest rates.
Student loans for people with bad credit are provided in the form of different loans by government agencies. Among student loans
There are many people like John who wish to have their own vehicle. Getting auto loans after filing for bankruptcy is possible if you can satisfy the terms and conditions set by lenders.
Getting Auto Loans After Bankruptcy
Filing for bankruptcy is one of the most difficult decisions in the life of any person. Bankruptcy not only causes us to surrender our assets but it also remains on our credit report for a very long time. A bad credit score in turn makes it very difficult to secure loans at attractive rates of interests.
So, even if you manage to get a loan, it would be at a higher rate of interest, as compared to the rates charged for people who have a high credit score. However, getting an auto loan sanctioned after bankruptcy is easier than applying for a credit card or an unsecured loan, because the creditors will be using the car as collateral. This means that if you do not pay your monthly installments on time, the car will be confiscated by lenders.
If you have filed for bankruptcy earlier and still wish to buy a car by taking a loan, then you can only qualify for bad credit
The present economic situation has made a good credit score mandatory for people in need of a loan. An individual’s credit score measures his credit worthiness. In the US, the 3 credit bureaus, viz., TransUnion, Experian, and Equifax collect and compile information on a person’s credit history. Each bureau maintains a credit report and provides scores based on the system created by Fair Isaac Corporation (FICO) in the year 1958. A good FICO score is now a must for obtaining a home loan. Gone are the days of sub-prime lending. At present, a FICO score between 760 and 850 would mean an interest of 5.268% on a 15½ year adjustable rate mortgage, while a FICO score greater than 740 would entitle a person to a 30-year mortgage with an interest rate of 8.101%. A large number of bank failures in 2009 have resulted in banks and other financial institutions enforcing strict lending laws. In this situation, a person having less than satisfactory credit score will find it difficult to seek loans. Thankfully, there are a number of alternatives for such people, and they are mentioned below.
Payday Alternative Loans (PAL)
Banks and credit unions offer payday alternative loans for people
Personal loans are often classified as unsecured loans, owing to the fact that usually personal loans are smaller loans and which are granted by the lender on basis of the income of the borrower. However, of recent, these features have changed quite a bit as there are several lenders who also lend out secured and unsecured long term loans. With all these features in perspective, a personal loan can be simply defined as a loan, the disbursed proceeds of which can be used for reasons not specified for, at the time of applying for the loan or simply personal reasons. Thus you can borrow this loan for one or many purposes, any of which do not have to be specified to the lender while getting the loan. However it also does not mean that one has to be forbearing about the purpose of the loan, which can of course be disclosed if the borrower wishes to.
In accordance with this meaning of this definition, a personal loan can include, several other sub-types and classification of loans. For instance, a personal loan would include a lot things such as your credit card, secured or unsecured loans, loans and advances, regulator
It is a common incidence that students have no credit at all, and if they do, the credit score is usually less. At any point of time, no credit or less credit is far better than a bad credit. Nevertheless, in such situations, getting qualified for student loans is very difficult. Every private financial institution checks credit prior to sanctioning educational loans. In fact, many students end up taking loans with very high interest rates. The good news is that there are student loans with no credit check. There are several types of student loans that do not require credit check. In most cases, no credit check student loans are federal loans. Going through federal routes for getting student loans is the best way, as they charge a very low-interest rate and are long-term. Some of the popular options for securing student loans with no credit check are as follows.
Federal Stafford Loan
- Federal Stafford loan is one of the best options for these loans.
- With Stafford loans, you have the flexibility to repay the loan amount within a grace period of six months after you earn your graduate degree.
- For obtaining this loan, you need to fill
Many Americans are currently in need of urgent personal loans. In addition to their immediate financial problems, their loan applications are being rejected by banks and financial houses, and the reason for this is their bad credit scores. A good alternative and as a last resort to crawl out of such a problem is to approach private money lenders.
Private money lenders are entities who can be individual investors or privately owned financial houses. They are non-commercial loaners whose procedures for offering loans is much less complicated, unlike in banks and public funding companies. Note that their interest rates are generally higher than conventional loans, and might change depending on the company. The paperwork is also not that complicated as it is typically. Many have benefited from such kind of personal loans. They are most suitable for those who have a bad credit history or are yet to create a credit record. When it comes to applying for a loan from a private money lender, you need to be wary of some important considerations.
The first step is to collect and document all the essential financial data that can be relevant to the procedure. You will be required to show
As consumers, we need to know some important facts about the debt relief industry. The first point is that more than half the agencies, people, and so-called ‘very’ knowledgeable experts, are frauds who will simply charge you an outrageous amount in return for empty promises, that they will get your debt volume reduced. The following guide will help you identify a trustworthy program.
Guide to the Best Debt Relief Programs
You may require some guidance and tips, for which you can turn to the following sources:
- The best source for information is the Federal Trade Commission, which not only publishes information on its website, but also helps you reduce debt in all possible ways. Few of the popular activities organized by the Federal Trade Commission are workshops, lectures, and conferences about debt relief and how one can avail this facility.
- Secondly, you can take up what is known as a Christian debt relief, a nonprofit organization that is usually arranged by the Church or a Church-affiliated agency. This program is the safest of all and you will be guided in the most positive manner. Such programs also help you in getting reliable debt consolidation loans.
- Thirdly, the Federal Trade Commission (FTC)
There are millions of Americans who are neck deep in debt. While one can always blame the recent economic crisis for this condition, oftentimes, it is the poor money management techniques of people which drives them into a lifetime of debt. In either case, life becomes very tough for these people. Moreover, it also begins to have implications on the economic picture of the nation. Hence, the government itself has to take initiative to clear the debts of these people. Every year, the federal government doles out 0.5 trillion dollars to clear the debts of its citizens! Free government grants are available through various debt relief programs initiated by the federal government. Why does the government offer free grant money to pay off debt? Who can get full government grants to pay off debt? Let us find answers to these and more.
Free Government Grants to Pay Off Debt
A grant is financial aid offered by the government to the needy, which need not be repaid by the recipient. You might have heard about free debt relief programs offered by private organizations, which indeed sound very lucrative. However, most of these programs are scams without an iota of truth in
Student loans just like your car or mortgage loans need to be paid timely. The more you delay, the difficult it gets for you to completely repay them. If you are facing trouble in repaying your student loans, you can take help of several debt relief options.
Student Debt Relief Programs
Educational loans, if not paid on time are charged with late fees. In case you are unable to repay your loans on time, as mentioned in the legal documents while you took the loan, you may end up in default, which is quite a serious financial setback. If you are in default, your credit rating will be spoiled and legal action can be taken against you by federal government, your loan service provider, your educational institution and even by your loan guarantor. If you have been finding it difficult to make payments of your loan for quite some time, it is time to rush to your loan service provider or the school, college that gave you the loan, and seek query. If you approach them timely, you may benefit from some other relief options. It is a blunder not to mention your creditors that you are unable to
Going through the rigmarole of a bankruptcy trial can be tough for any applicant and the only way the matter can be simplified is by finding a good lawyer, who can steer you through the entire process and guide you in the right direction. You want to be in experienced hands for something as important as the bankruptcy trial.
Finding a Good Bankruptcy Lawyer
They say that finding a good lawyer is half the battle won in any court room battle. An astute bankruptcy lawyer, well versed in this abstruse field of law, can provide you with guidance through the legal maze. Bankruptcy is a subject of federal law and the legal proceedings are handled by the United States Bankruptcy Court, which fall under the aegis of United States District Courts.
According to the United States Code, you can file for any of the six different types of bankruptcies, according to the nature of your insolvency problem. You need an expert lawyer, well versed in this sector of law, who can guide you regarding which chapter of bankruptcy law should your case be filed under. In the following lines, you will find some advice regarding finding good bankruptcy lawyers. There are
Being a successful lawyer has always been a dream of several young college students. However, only those who are genuinely interested in this field can survive here for a long time. The competition here is very tough you will need a bachelor’s or preferably a master’s degree in law from a reputed college to make a place for yourself. Lawyers are of different kinds – tax lawyers, business lawyers, criminal defense lawyers, immigration lawyers, etc. All these professionals are known to earn well if they have sufficient years of experience.
Income of a Lawyer
As per the various salary surveys, the median salary of lawyers is around USD 92,000. However, the salaries for the beginners having less experience were found to be in the range of USD 30,000 to USD 42,000. On the contrary, highly experienced and successful lawyers who have spent ten to fifteen years in the legal field can easily earn around USD 150,000. The salary of those with three to five years of experience can be anything in between USD 40,000 to USD 60,000 a year.
The main aspect of the job of tax attorneys is related to the important tax laws and the Internal Revenue Service. The
Personal injury law is one of the most lucrative fields of law and is concerned with providing compensation for injuries, both physical and emotional. Personal injury lawyers are also referred to as trial lawyers and represent people who are involved in vehicle collisions, work injuries, assaults, medical errors and other accidents. The injury claim settlement often run in thousands of dollars, making for a large percentage for the lawyer.
Personal injury law or tort law helps individuals to claim relief for the damages suffered because of a third party. The third party can be a government agency, large corporation, medical institution or a person. Personal injury law deals with charges such as assault, trespass, battery, negligence etc. Personal injury law is categorized into three broad categories. These are:
- Intentional torts
- Negligent torts
- Strict liability torts
Individuals who wish to take personal injury law as a career field should have completed a four-year degree course and a law degree from a accredited institution. After completing the law degree an individual is required to pass the following bar exams:
- Multistate Bar Examination (MBE)
- Multistate Essay Examination (MEE)
- Multistate Professional Responsibility Examination (MPRE)
After passing these examinations, it is important for
A lawyer’s career can be both challenging as well as rewarding and it also offers a wide scope of practice. A lawyer can have his or her own private practice, can work with a law firm or in a corporate firm, can be employed with the government or even pursue a career as a political leader. However, getting to this very lucrative career requires a lot of time and dedication towards the purpose. In fact, it is said that obtaining a lawyer’s degree is tougher than obtaining a medical degree. It involves pursuing high level of education and qualifying various examinations, even after obtaining the degree. Those wanting to become a lawyer, must understand that they need to focus on their educational goals, all throughout. So, what are the qualifications to be a lawyer? Listed below are the requirements to become a lawyer.
Requirements To Be a Lawyer
There are three main lawyer requirements. The first requirement is that you should have studied for four years and achieved a bachelor’s degree. After that to get enrolled into a law school you will need to pass the law school admission test. Once, you are done with this you will study in
A television show or a movie may portray him as always in court, rubbing elbows with the social elite. Well, just so you know, a corporate lawyer’s job is to study law, and draft legal documents. For all one knows, it wouldn’t be wrong to call corporate lawyers ‘the handmaidens of the deal’. They facilitate the business process that may require insight into the requirements of a client, and may call for expertise and service mentality. To ensure the legality of commercial transactions, corporate firms all over the world require corporate lawyers who’re well aware of statutory law and regulations passed by governmental organizations, to assist clients in attaining their goals, without exceeding the bounds of the law. Corporate lawyers research contract law, tax law, securities law, accounting, intellectual property rights, bankruptcy, and all regulations that involve business and finance. To gain more insight on the same, the following words make up for an interesting read.
Job Profile of a Corporate Lawyer
As is universally known, in order to deal with corporate law, one needs to have an incisive mind and terrific communication skills, for the simple reason that, throughout the negotiation procedure, a corporate lawyer constantly writes and revises
The prospect of divorce in itself is a messy affair for those involved. One definitely wants to get it right, as far as the legal aspects are concerned. However, paying for a divorce lawyer is not possible for everyone. Many people lose out on what they are entitled to just because they cannot afford a lawyer who can represent them well in the court of law. The enormity of the legal fees plays a major role for those searching for a lawyer.
Here is where pro bono lawyers come into the picture. A pro bono divorce lawyer is one who fights a divorce case free of cost, or if not, at least at a very nominal charge. Such a lawyer may not specialize in divorce cases, however, he may provide legal services in divorce at no or little cost to individuals or charitable organizations.
Why do Lawyers Work Pro Bono?
Pro bono is the Latin phrase which translates as ‘for the public good’ or ‘in courtesy of the people’. Under the ethical rules of the American Bar Association, every lawyer is recommended to set aside 50 hours of pro bono service every year. Some individual State Bar associations may require its
Did You Know?
According to the website named asbestos, legal analysts claim that there are more than 600,000 plaintiffs and 6,000 defendants for asbestos litigation, and the total outlay for the lawsuits could reach up to USD 200 billion.
Mesothelioma is a rare kind of cancer which is caused due to exposure to asbestos. Many people work in an environment where they inhale or ingest asbestos fibers or dust, causing this cancer. Several people claim compensation from their employers for not adopting safety precautions to avoid asbestos exposure. If you are facing a similar problem, it is important that you file a claim immediately. Remember, based on the Statute of Limitations, you have only limited time after the diagnosis to file a case for mesothelioma compensation. This time period varies from state to state. Hence, it is advisable to file the lawsuit immediately after the diagnosis.
An asbestos litigation is considered as the longest and most costliest mass tort in the history of the U.S. Hence, there are chances that you may have to spend a lot to get a good lawyer who can help you to win the case. Don’t worry if you do not know how
Law is an enticing career for many, but it is a highly competitive field to which admission is quite challenging. And for someone who has a criminal record, the ride is even tougher to say the least. Perhaps your past is your past and you want to turn over a new leaf, and there are many practicing lawyers who have such a record in their past. However, it has only been an uphill task to be able to attain a degree and then give the state license exams to become a practicing lawyer with a criminal record, be it for drug abuse or for felony. Even so, there is a little hope for you if you seek to become a lawyer with such a background. Here are certain things you may have to do.
What You Can Do
A lot of you may assume that you can just avoid mentioning that you have had a background where you have been convicted of some kind of crime, so that you can smoothly get into law school. However, do that and you will kill all the possible chances you have to become a lawyer. Law schools run a criminal background check on