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Tuesday, April 15, 2014

Cash Crunch: 5 Ways You Could get Quick Cash Within a Day

It happens to the best of us. Payday is a few days away, but you need cash now. Maybe your car broke down or your kids need money or a field trip at school. No matter the reason, here a few ways to get extra cash to help you make it to payday.

Use Your Car

Offer to give someone a ride. Websites like Uber and Lyft allow you to connect with visitors to your city that need a ride. You simply input the times you are available and customers will come to you.
Pros: You can make extra money and meet interesting people.
Cons: You never know who you are going to meet, so this could be a bit risky.

Market Your Skills

You don't have to make anything fancy, simply put up a few flyers around town advertising your skills. You could offer to walk dogs, babysit, cut grass or even edit papers for extra cash. Scroll through your cell phone - who do you know that might be willing to give you a little bit of money for a job well done?
Pros: You can set your own hours and rates. Also, you will get paid as soon as the job is completed.
Cons: It could take more than a day to get a positive response.

Work as Day Laborer

If you don't have a regular full-time job, you may consider work as a day laborer. An internet search or your local phone book should list employment agencies that supply day laborers to businesses.
Pros: A day worked is a day paid. More than likely, you will be paid the same day.
Cons: You could end up doing all manner of work from picking up trash at a construction site to heave lifting.

Clean Out Your Closet

Everyone has something in the back of their closet that hasn't been used for years. Why not turn it into extra cash? While internet yard sales are common, if you need cash quickly, consider a local pawn shop like Sam Light Loan Company. They will value your item while you wait and pay you cash on the spot. You can choose to either sell the item or pawn it. With a pawn, the shop gives you a loan that you must repay, with interest. Once you have repaid the loan, you will get your item back. If you choose to sell it, the pawn shop keeps the item and you are not responsible for paying anything back.
Pros: You don't have to worry about shipping or the buyer backing out of the sell.
Cons: Some pawn shops charge very high interest on their loans.

Micro Jobs

If you need money but don't want to leave your house, consider taking on a few micro jobs. Sites like ClickChores offer a variety of simple tasks to complete. Most only require a few seconds. If you work fast, you can complete several of these in practically no time and earn some extra money while you're at it.
Pros: Tasks are very quick and easy to complete.
Cons: Most pay less than $1.00 per task, so you will need to complete several.

Thursday, April 3, 2014

Loan Checklist: Comparing Five Quick Loan Options

Sometimes, emergencies occur that require a quick source of money. There are several different loans that are available that will be able to provide access to this money.

1. Small-Dollar Loans

Because of the increasing need for smaller, short-term loans, the FDIC created the Small-Dollar Loan Pilot Program in 2008 that makes money available for loans less than $1,000 at roughly the same ease of access as payday loans, but without the high APRs and fees. The APRs for these loans tend to be between 5% and 36% and are slightly more difficult to obtain, but are usually relatively safe.

2. Payday Loans

Payday loans are short term, high interest rate loans that are available to basically everyone, even if they have a low credit score. They allow a person to take out the money for a fee which is then supposed to be paid back at the next payday, usually within two weeks. The main advantage from companies like Cash 2 Go is that the loan allows the person to get money quickly. However, this money is gained at a high APR and you will end up paying fees.

3. Short Term Small Loans

The National Credit Union Association created the Short Term Small Loan Program that allows credit unions to give members loans that are between $200 and $1,000 for an APR of 28% or less. When an STS loan is repaid, a person's credit score will be raised, allowing that person to access loans in the future for lower rates of interest.

4. Cash Advance from an Employer

Another viable option for a quick loan is by getting a cash advance from an employer. This is usually easy to do, especially if a person is highly thought of in the company. While doing this more than once will negatively affect a person's financial situation and social situation where he or she works, doing it once allows money to be accessed with a minimal amount of fees and risk. There is also no way for the debt to snowball.

5. Secured Credit Card

This type of quick loan requires some advanced planning, but is excellent for those with a poor credit score. Money will be put down ahead of time as collateral that will determine how much credit will be extended. Then, the card can be used for emergencies that would ordinarily require loans. The fees and interest rates vary from card to card.
Do some research to determine which short term loan is the best for your financial situation. Look for low APRs and consider the fees involved with any loans.

Friday, March 28, 2014

Quick Rundown of the Legal Side of Bankruptcy

All bankruptcy cases are taken care of through any of the three bankruptcy courts that are based in Pennsylvania. Although the United States codes for bankruptcy are uniform in every state, there are various regulations that are based on data from each state. For example, every bankruptcy court has its own specific rules concerning managing cases and filing petitions. Here is a quick rundown to help you understand the legal processes in bankruptcy.

Chapter 7 Bankruptcy Laws

Anyone is eligible to take advantage of a Chapter 7 bankruptcy. However, it is not always the best option. It is normally a good idea to discuss your options with bankruptcy law attorneys. Anyone who is dealing with debt that they are no longer able to pay can take advantage of a Chapter 7 bankruptcy. After filing for a Chapter 7 bankruptcy, all of a person’s assets are sold in order to pay the various creditors the money that is owed. Once this has been done, all of the debts will be discharged. Fortunately, there are certain assets that can be exempt. Using the services that are offered by All Family Law Group, P.A. and other bankruptcy lawyers can help you keep some of your assets.

Chapter 13 Bankruptcy Laws

A Chapter 13 bankruptcy is designed to help men and women make their payments in installments. These payments are dealt with through the help of a trustee. A Chapter 13 bankruptcy gives men and women the chance to be able to have more time to make payments on the debts that are owed. Although some assets may be sold to pay that person’s creditors, it is possible for a person to keep their assets using Chapter 13 bankruptcy. In addition, it is possible to have the amount of money owed to be reduced. In order to be eligible for a Chapter 13 bankruptcy, the person’s debt must fall under a certain number that changes every three years.

Exempt Assets

Property that can be exempt from the bankruptcy process includes residential property, jewelry, furniture and a vehicle. In addition, disability, veteran’s administration, welfare, unemployment compensation and social security benefits are exempt. Various pension benefits may be exempt as well.

Chapter 11 Bankruptcy Laws

Any corporation that is based in Pennsylvania can take advantage of a Chapter 11 bankruptcy. The debt limits for a Chapter 11 bankruptcy are normally higher. For example, it can be as much as 10 million. The amount of debt that is owed is normally eliminated after all of the assets have been sold.
Bankruptcy laws in Pennsylvania are inclusive. However, it does not take much to understand the basics of these bankruptcy laws. It is important to know a little about bankruptcy laws in order to deal with bankruptcy properly. A bankruptcy lawyer is required as well in order to ensure that your finances are handled properly.

Thursday, March 13, 2014

Navigate Your Way Out Of Debt with These 4 Methods

Many people struggle with debt, so you are not alone. Getting out of debt is possible, but it takes time, money and effort. If you are tired of living under a mountain of debt, consider these four methods for finally breaking free.

Consolidate Debts

Find out if you are able to consolidate all your debts into one lump sum. This takes all your smaller bills with high interest rates and combines them into one bill with a lower interest rate. If you are unable to lower your interest rate with this method, it may not be the right option. If you do choose to consolidate your debts, don't assume the problem is solved and start racking up more credit cards or other debt. You'll still need to pay off the new consolidated loan before you're completely out of debt.

Debt Settlement

If some of your bills are just too high to pay off within five years or they've been sent to collections, see about settling the debt for a reduced amount. In these situations, many creditors will just settle for a smaller amount, so they can get some of their money back. If you are considering this method, keep in mind the creditors will probably give you a short time frame in which to repay the debt. So even though you may only be paying 30-50 percent of what you owe, you may have to pay it off within one or two years.

Don't Pay the Minimum

If you are trying to pay off your debts by making the minimum payments each month, you'll be paying them off forever, and you'll be paying a lot in interest. Instead of paying the minimum on all your bills, target one and pay that one off as fast as you can. Once it's paid off, target a new one and pay that one off as quickly as possible. This way, you aren't going broke by paying a high amount on many bills, but you are also not paying the minimum on all of them.

Consider Bankruptcy

If your debt is just too high, consider filing for bankruptcy. Bankruptcy can eliminate all or most of your debts. This is the best course of action if you have significant debt for which you can file bankruptcy. Bankruptcy is a complex process with many rules, so if you are considering this, talk with the Chapter 7 bankruptcy laywers to help walk you through the process.

If you're struggling with debt, these four methods may be able to help. If you are unable to make the full payments yourself, consider having them consolidated or settled. In extreme situations, consider filing bankruptcy and starting fresh.

Friday, February 21, 2014

Here are Ways to Save Money on Your Mobile Data Plan

These days, it’s common to see everyone online, all the time. A few years ago, online meant routers and splitters and bulky internet devices. Then, mobile internet came and changed the name of the game. Now, everyone can check their emails or browse through webpages—no longer on bulky laptops or heavy laptops—but on small, sleek, and stylish smartphones. 

All-day access is, of course, a nice thing to have. But it could give you sky-hill bills if you’re not careful. So, if you want to learn how to save on your mobile data plan, here are a few suggestions:

Turn Off Features You Don’t Use

This, of course, is basic. Yes, a given. Just as you turn off the shower or television or lights when nobody is using them, then you should teach yourself how to turn off any and all mobile features you aren’t using. This not only allows you to save on your data consumption, but also reduces the drain on your phone’s batteries so they last longer.

Write a note to yourself to do this before you sleep, while you eat, when you take a shower, and whenever you’re on WiFi. It doesn’t matter how long or short the time is, it’s just important that you learn to save energy.

Monitor Your Data Consumption

Fix your settings. You know you should do everything you can to keep yourself from going over your data cap. Set a limit if you haven’t done that yet. For example, you may want to go with as low as 500MB per month if you’re not a hard user or if you’re going on a vacation and won’t have that much need for internet access as you normally do.

This way, if and when you do reach the limit, your phone will warn you, and the unit will automatically shut off as soon as you reach the limit. You can also try to adjust the data usage cycle and set it on dates that cover your billing period for better tracking.

Also, don’t forget to always check apps you regularly use. Maybe those apps are consuming more data than you think. Learn how to restrict the background settings on those. If this happens with any app you’ve downloaded, just uninstall these apps completely.

If you think you can’t live without one or two of these apps, then find yourself replacements—one or two that won’t burn through your data plan.

All these will prove handy for you if you always find yourself hitting the data cap and getting charged extra.

Backdate Your Mobile Plan

If it’s possible with your carrier, then try using the backdating feature. This can help you save plenty—in case you travel a lot. AT&T and Verizon allow users to change their plans, so you could adjust some of the details in yours. Try calling your carrier to backdate your plan to include an international feature or some other feature you like.

How should it work? Let’s say you go on an out-of-the country trip. You relied on your mobile unit so much throughout the trip that your phone charges may reach astronomical levels come your due date. However, with a backdate feature, you could inform your carrier to backdate those charges to reduce the amount you’ll pay. Changing your plan may cost you money, but it’ll be a lot less than the actual amount you’ll face if you don’t backdate those charges.

This may be the best and easiest way for you to save on your data usage. If you work with a wifi connection—at home, office or at a mall or cafeteria where wifi connections operate at high speeds—then, there won’t be any reason for you to go over your data cap any more. With wifi around, you can just burn through your mobile data plan when wifi access isn’t possible. Otherwise, you’re already covered. 
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