Council tax – Adventurebase100 http://adventurebase100.org/ Tue, 15 Nov 2022 13:07:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://adventurebase100.org/wp-content/uploads/2021/10/icon-3-120x120.png Council tax – Adventurebase100 http://adventurebase100.org/ 32 32 Refinance an existing credit with debt consolidation https://adventurebase100.org/refinance-an-existing-credit-with-debt-consolidation/ Tue, 15 Nov 2022 13:07:46 +0000 https://adventurebase100.org/refinance-an-existing-credit-with-debt-consolidation/ Sponsored Content Loan problems? You can refinance an existing credit with debt consolidation Credit cards represent a large part of our daily financial transactions. The ability to spend now and pay later is something that comes in handy most often. Whether it’s daily dinners, weekend getaways, or any […]]]>

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Loan problems? You can refinance an existing credit with debt consolidation


Credit cards represent a large part of our daily financial transactions. The ability to spend now and pay later is something that comes in handy most often. Whether it’s daily dinners, weekend getaways, or any ambitious need, we rely heavily on credit cards.

A significant 26.5% increase in transaction volume, value and average ticket size has been observed over the past year. And with the big announcement of credit card-enabled UPI payments, our reliance on these debt instruments will become inevitable.

Likewise, personal loans have been recognized as a trump card in planned or unplanned events. Along with enticing offers, brands and lenders have raised the bar by offering seamless onboarding journeys, end-to-end digital processes, and instant access to credit in minutes.

While debt instruments give you the freedom to spend money you haven’t yet earned, you need to be very careful not to abuse it. They are a blessing as long as you make timely payments and maintain them prudently. A little misunderstanding and you could find yourself in a debt trap situation.

Relief from spiraling debt

As part of a prudent financial plan, you need to make sure you don’t have multiple debts at once. If you have multiple debts or credits that are spiraling out of control, debt consolidation is your solution.

Debt consolidation is a financial tactic that helps consolidate multiple loans and unpaid credit card bills into a single personal loan. Just be aware of its existing loan foreclosure policies. Using a single personal loan to pay off all dues has a plethora of advantages.

It is rather easy to repay a loan compared to several debts. This reduces the hassle of dealing with multiple lenders and due dates falling on different parts of the monthly calendar. Failure to pay can result in heavy penalties.

Low-Rate Loan Solution

We are well aware of the interest rates that credit cards attract. Not to mention the number of other costs involved. Debt consolidation helps convert all existing debt from 36-45% interest rate to a personal loan at 15-18% interest rate. Wiping out all high-interest debt with just one loan can help save quite a bit of money.

Since servicing a single loan will become a breeze, one due date, one lender to attend, and one EMI to repay, your risk of default will be reduced. Making payments on time definitely improves your credit score. Also, the lower the debts, the better the opinion of your credit profile.

Holding on to debts that you cannot afford can put you in a difficult financial situation. Although debt consolidation can be a temporary relief, it is not a permanent solution to financial problems. Be sure not to use debt securities as an extension of your paycheck and especially not to be enticed by enticing offers and rewards. Always monitor your spending habits and plan your borrowings to maintain your financial health at all times.

Data source – Reserve Bank of India (RBI) data

Learn more about Loan Tap here.

The Federal assumes no editorial responsibility for this content.

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How to choose the best debt consolidation lender? https://adventurebase100.org/how-to-choose-the-best-debt-consolidation-lender-2/ Tue, 15 Nov 2022 04:46:34 +0000 https://adventurebase100.org/how-to-choose-the-best-debt-consolidation-lender-2/ The Good Brigade/Getty Images Debt consolidation is combining multiple debts into one loan to reduce the number of bills you pay each month. Ideally, when consolidating debt, you also reduce the interest rate you pay and you can ultimately pay off the debt faster. If you are considering debt consolidationYou should start by deciding which […]]]>

The Good Brigade/Getty Images

Debt consolidation is combining multiple debts into one loan to reduce the number of bills you pay each month. Ideally, when consolidating debt, you also reduce the interest rate you pay and you can ultimately pay off the debt faster.

If you are considering debt consolidationYou should start by deciding which method is best and evaluating your financial and credit health to determine if you are a good candidate for debt consolidation. Once you’ve taken these steps, you can move on to researching and evaluating lenders to find the best solution to help you pay off those crippling debt balances sooner.

Identify the type of debt consolidation that suits you best

The first step is to evaluate debt consolidation options and select the method that is best for you. Common methods include:

  • Personal loan: Many lenders offer debt consolidation loans or personal loans designed to help you pay off your debts faster and save a lot of interest. Debt consolidation loans usually come with a fixed interest rate and a loan term of 1 to 10 years. You are free to use the funds as you see fit, but the idea is to pay off your debt balance with the loan proceeds.
  • Zero APR credit card: Also known as balance transfer credit cards, these debt products can help you save a significant amount in interest and eliminate high-interest debt balances faster. They are generally reserved for consumers with a good or excellent credit rating. You should only consider this option if you can repay the balances you transfer to the card during the introductory period. Otherwise, you could end up paying a fortune in interest.
  • Home Equity Loan: You can convert up to 85% of your home equity into cash and use it to consolidate your debt with a home equity loan. It acts like a second mortgage and comes with a repayment period of between five and 30 years. The interest rate is also fixed and lower than most credit cards, but the main drawback is that your home guarantees these loan products. Therefore, you could lose your property to foreclosure if you fall behind on loan repayments.
  • Home Equity Line of Credit (HELOC): A HELOC is a home equity loan, but you will not receive the loan proceeds in a lump sum. Instead, you’ll have access to a pool of money that you can draw on as needed during the 10-year draw period. Interest-only payments are also required during the drawdown period on most HELOCs. Once completed, you will repay in monthly installments over a term of up to 20 years. The amount of the monthly payment can fluctuate since the interest rate on HELOCs is generally variable.

It’s important to select the best option for your needs, as this will help determine the type of lender you choose. Not all lenders offer the same borrowing options. Once you’ve decided on a consolidation option, you can analyze each lender’s interest rates, loan terms, and fees to determine which offers make the most financial sense for your goals.

Determine your qualifications

Lenders want to know that you are creditworthy and have the means to make timely payments on the loan or credit card you are using to consolidate your debt. This means you can expect the lender to assess your credit score and credit history to determine if you have a history of responsible bill paying.

Lenders will also look at your debt-to-equity ratio to determine if you can afford monthly repayments and if you’re not taking on more than you can handle. Lenders also want to see verifiable proof of income and will be looking for long-term financial stability.

Also, be aware that the most competitive interest rates are generally reserved for borrowers with a good or excellent credit rating. A lower credit score doesn’t always mean you’ll automatically be denied a loan or credit card. Still, you will usually get a high interest rate if approved to offset the risk of default posed to the lender or creditor.

Ultimately, you may find that it doesn’t make sense to consolidate your debt if you have bad credit if you only qualify for a higher rate than you’re currently paying.

Shop around for lenders

Look for lenders that offer the type of debt consolidation you are looking for. Most offer online prequalification with a flexible credit application. If you’re considering a debt consolidation loan, you’ll also get an overview of potential loan costs to compare your options with.

In addition to checking online lenders when shopping, it may be a good idea to check the options available from banks or credit unions. You may qualify for more favorable loan terms if you have a pre-existing relationship with a bank or lender.

Regardless of the type of lenders you include on your shortlist, prequalification takes the guesswork out of finding lenders willing to work with you. Plus, you’ll avoid going to lenders who might deny you a loan or credit card and get an unnecessary credit check.

Assess the lender

Once you have a shortlist of at least three lenders, it is a good idea to compare them side by side and compare the factors below, which will impact the overall cost of your loan, your ability manage it and the customer service you receive:

  • Annual Percentage Rates (APR): This figure represents the actual annual cost of borrowing. It includes interest and fees determined by your credit score and debt-to-equity ratio. Knowing this information for each loan option can help you assess which one will cost the least.
  • Lender fees: Some lenders charge origination fees ranging from 1-10% of the loan amount. Even if the APR is on the lower end, high origination fees might make a different loan product the more practical choice. Similar to APR rates, knowing each lender’s fees can help you determine which loan is more expensive or best suited for you.
  • Characteristics of the lender: Top lenders also have an online dashboard where you can monitor your account, schedule payments, and chat with customer service representatives. It’s also great if free educational resources can help you manage your credit and overall financial health more effectively. Understanding the features and customer service offerings of each lender gives you a better idea of ​​which loan will be easier to manage.
  • Customer reviews: You want to select a reputable lender with a proven track record of providing quality service. Checking online reviews from past clients can be a good way to gain peace of mind before signing on the dotted line with a lender. Seeking accreditation from the Better Business Bureau (BBB) ​​may also be a good idea.

At the end of the line

Before applying for a loan or credit card to consolidate your debt, weigh your options to decide which type of debt consolidation makes the most sense. Plus, get prequalified with at least three lenders to see potential loan quotes and compare your options. This will allow you to make an informed decision, reach your debt repayment goals faster, and save money.

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The dirty secrets of debt consolidation loans revealed https://adventurebase100.org/the-dirty-secrets-of-debt-consolidation-loans-revealed/ Fri, 04 Nov 2022 16:00:00 +0000 https://adventurebase100.org/the-dirty-secrets-of-debt-consolidation-loans-revealed/ Things If you are considering a debt consolidation loan, you need the advice of a financial mentor. Rob Stock is a Stuff business journalist specializing in money and consumer issues. ANALYSIS: The dirty secrets of debt consolidation loans have been revealed in documents sent to the government. They can be interpreted as sending a clear […]]]>
If you are considering a debt consolidation loan, you need the advice of a financial mentor.

Things

If you are considering a debt consolidation loan, you need the advice of a financial mentor.

Rob Stock is a Stuff business journalist specializing in money and consumer issues.

ANALYSIS: The dirty secrets of debt consolidation loans have been revealed in documents sent to the government.

They can be interpreted as sending a clear message to borrowers who are considering taking out one: you are experiencing a financial emergency and need expert help.

A debt consolidation loan is a loan that people take out to pay off their other debts. The theory goes that one loan is easier to manage than multiple loans.

But if you are in debt, it may be time to question your own judgment and financial skills, and get free, independent advice from a budgeting service.

READ MORE:
* New rules on home loans force some people to turn to second-tier lenders
* Borrower complains after $41,500 turned into $59,500 during his jail term
* Retired banker protests banks’ ‘takeover’ of loans

The dirty secrets of debt consolidation loans have been exposed in submissions sent to the government by financial mentors from budgeting departments across the country opposed to plans to make it easier for lenders to sell.

Some mentors said they had never seen a debt consolidation loan that made things better for a borrower.

They said a typical trick of lenders was to refinance short-term debts into a single, longer-term debt consolidation loan, on which they could earn interest over a longer period.

Financial research website Moneyhub has compiled 12 credit card “sacred rules” that every cardholder should follow, if they don’t want to fall victim to easy and costly consumer debt.

Borrowers were charged new loan fees, and sometimes lenders sold them low-value loan repayment insurance, or waivers, which are like insurance, except they’re not covered by law. which are supposed to keep insurers honest and financially viable.

Mentors said unsecured loans were sometimes refinanced into debt consolidation loans secured by property, and not always the property of the borrower.

“We also see many debt consolidation loans secured by the assets of other family members. This has a huge negative impact on family dynamics and everyone’s mental well-being. We call it STD – sexually transmitted debt,” said Andrew Henderson and Charlotte Whitaker of the Dunedin Budget Advisory Service.

Collateral could be “clawed back” by lenders if borrowers do not repay.

Some mentors reported seeing interest-free debts such as buy now, pay later (BNPL) loans, family loans, some debt collection debts, education debts, health debts, electricity debts and even interest-free debts owed to the government refinanced into debt consolidation loans at higher interest rates.

Some mentors even claimed that “irresponsible” loans, granted to borrowers who could not reasonably be expected to repay them without suffering hardship, were converted into new loans through debt consolidation.

Under responsible lending laws, these irresponsible loans should be unwound, not sneakily converted into new loans.

The dirty secrets of debt consolidation loans have been exposed in submissions sent to the government by financial mentors from budgeting services across the country.

Things

The dirty secrets of debt consolidation loans have been exposed in submissions sent to the government by financial mentors from budgeting services across the country.

The mentors also said that sometimes the loans repaid by debt consolidation loans were on revolving loan facilities like BNPL accounts, credit cards or store cards.

These accounts were not always closed, and vulnerable and desperate households ended up having access to even more debt.

Henderson and Whitaker said, “In our view, a debt consolidation loan is not a loan, but a product used to achieve client betterment.”

Where it worked, it worked with low-interest, interest-free debt consolidation loans from nonprofit lenders like Ngā Tangata Finance and Good Shepherd, they said.

Lenders simply saw it as another way to keep whānau in debt, for a longer period, with collateral and no other options, they said.

The unequivocal conclusion is that debt consolidation should be approached with extreme caution.

GOLDEN RULES:

  • Debt consolidation loans are a symptom of financial distress
  • Beware of the Dirty Tricks of Debt Consolidation
  • Get independent advice

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Magsasaka party list will continue to push for debt consolidation bill – Manila Bulletin https://adventurebase100.org/magsasaka-party-list-will-continue-to-push-for-debt-consolidation-bill-manila-bulletin/ Thu, 03 Nov 2022 04:12:00 +0000 https://adventurebase100.org/magsasaka-party-list-will-continue-to-push-for-debt-consolidation-bill-manila-bulletin/ The Magsasaka party list continues to push for the passage of a bill to reverse the debt burden and write-offs accrued by land reform beneficiaries (ARB). Sugar Cane Farmers (Manila Bulletin File Photo) “Excusing the debts of land reform beneficiaries now will not only be a good step in the pursuit of social justice, but […]]]>

The Magsasaka party list continues to push for the passage of a bill to reverse the debt burden and write-offs accrued by land reform beneficiaries (ARB).

Sugar Cane Farmers (Manila Bulletin File Photo)

“Excusing the debts of land reform beneficiaries now will not only be a good step in the pursuit of social justice, but it will also stimulate economic growth in which the country’s agricultural sector will be at the forefront”, said Robert Nazal, Rep. of Magsasaka Party-list.

Nazal vowed that once his internal party list dispute was settled, he would push for approval of the measure. He was referring to the Supreme Court (SC) issuing a Temporary Restraining Order (TRO) upon his election as a member of the House.

LILY: https://mb.com.ph/2022/10/20/comelec-to-abide-respect-sc-resolution-on-magsasaka-pl-dispute/

“Beneficiary farmers will be given a fresh start and be freed from the bondage the law really wanted them to be freed from,” he said.

President Ferdinand “Bongbong” Marcos Jr. said in his first State of the Nation (SONA) address that his administration would push for a one-year moratorium on ARB debt.

LILY: https://mb.com.ph/2022/07/25/marcos-to-grant-1-year-moratorium-on-payments-interest-for-agrarian-reform-beneficiaries/

Marcos estimated that the concession would cover about “58.125 billion pesos benefiting about ARB 654,000 and involving a total of 1.18 million hectares of allocated land”.

Nazal pointed out that the government has difficulties in recovering the loans granted to the ARBs, hence the need to forgive the said debts.

“However, despite the noble intentions, the government currently has a staggering collection deficit of previous loans on land and credit secured by land reform beneficiaries…that being said, it should be noted that the failure of the collection stems not only from the lack of effective collection administration, but also the inability of beneficiary farmers to assume the loans in the first place, let alone compound interest, penalties or surcharges,” he said. declared.

In his statement, he cited data from the Bangko Sentral ng Pilipinas (BSP) which revealed that lending by Philippine banks to the agricultural and agrarian sector increased by 19.3%, from 713.6 billion pesos in 2020 to 851.76 billion pesos in 2022.

“In short, prolonging the burden on farmer-beneficiaries does not benefit anyone. Current interest unduly increases debt, but debt remains just debt. The government cannot afford the collection fee,” Nazal concluded.

Last September, the House of Representatives Committee on Land Reform formed a Technical Task Force (TWG) to consolidate several House bills that seek the cancellation of the ARB debt.

LILY: https://mb.com.ph/2022/09/14/farmers-debt-condonation-bill-moves-forward-in-house/

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Best Business Debt Consolidation Loans of 2022 – Forbes Advisor https://adventurebase100.org/best-business-debt-consolidation-loans-of-2022-forbes-advisor/ Tue, 01 Nov 2022 18:40:49 +0000 https://adventurebase100.org/best-business-debt-consolidation-loans-of-2022-forbes-advisor/ To consolidate your business debt, take out a new business loan and use the funds to pay off your existing debt from credit cards and other loans. This merges all your debts into one loan with one monthly payment, often with a lower interest rate and more favorable terms, depending on your creditworthiness. There are […]]]>

To consolidate your business debt, take out a new business loan and use the funds to pay off your existing debt from credit cards and other loans. This merges all your debts into one loan with one monthly payment, often with a lower interest rate and more favorable terms, depending on your creditworthiness.

There are several ways to consolidate business debt, but business debt consolidation loans and balance transfer credit cards are the most common methods.

Commercial debt consolidation loans

Commercial debt consolidation loans are available from traditional financial institutions and online lenders. Some lenders specialize in debt consolidation while others provide general business loans that you can use for a variety of purposes.

Depending on the lender, business debt consolidation loans can have lower interest rates than other business loans, making them an attractive option for businesses that want to lower the cost of their debt.

Business credit cards with balance transfer

Business credit cards with balance transfer involves transferring balances from existing business credit accounts to a new credit card with a lower interest rate. As with consolidation loans, this can be an effective way to reduce the cost of your debts, especially if you qualify for a 0% APR introductory period. To take advantage of these benefits, you must pay off the entire debt balance before the end of the 0% interest period, and you may be required to pay a balance transfer fee.

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Should you use a debt consolidation app? | Company https://adventurebase100.org/should-you-use-a-debt-consolidation-app-company/ Thu, 27 Oct 2022 05:30:00 +0000 https://adventurebase100.org/should-you-use-a-debt-consolidation-app-company/ If you’re striving to better manage your money and pay off your debts, a debt consolidation app can help you track and manage what you owe. However, each app takes a slightly different approach. Before you invest time and potentially money into any of them, get to know how they work and what will help […]]]>

If you’re striving to better manage your money and pay off your debts, a debt consolidation app can help you track and manage what you owe. However, each app takes a slightly different approach.

Before you invest time and potentially money into any of them, get to know how they work and what will help you best.

Reanna Smith-Hamblin is president and CEO of the Better Business chapter serving this region. She can be reached at 502-588-0043 or rsmith-hamblin@bbb.louisville.org.

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Global Consumer and Business Debt Consolidation Market Overview 2022, Recent Developments and SWOT Analysis 2028 https://adventurebase100.org/global-consumer-and-business-debt-consolidation-market-overview-2022-recent-developments-and-swot-analysis-2028/ Thu, 20 Oct 2022 16:12:34 +0000 https://adventurebase100.org/global-consumer-and-business-debt-consolidation-market-overview-2022-recent-developments-and-swot-analysis-2028/ Global consumer and corporate debt consolidation market 2022 by introspective by Company, Region, Type, and Application Market Research to 2028 is a report provided by MarketQuest.biz which examines current trends, provides a financial overview of the industry, evaluates historical data, and examines overall market dynamics. The data obtained for the Global Consumer and Corporate Debt […]]]>

Global consumer and corporate debt consolidation market 2022 by introspective by Company, Region, Type, and Application Market Research to 2028 is a report provided by MarketQuest.biz which examines current trends, provides a financial overview of the industry, evaluates historical data, and examines overall market dynamics. The data obtained for the Global Consumer and Corporate Debt Consolidation Market is extensively analyzed and interpreted in this report.

The Consumer and Business Debt Consolidation Market is segmented into three categories in this report: application, type, and geographical region. It describes the current state of the industry. The influence of global and local market experts, value chain optimization, probabilistic research, technology goals, product launches and significant market segments are all explored in this report.

DOWNLOAD A FREE SAMPLE REPORT: https://www.marketquest.biz/sample-request/111268

The research was written by our analysts using primary (surveys and interviews) and secondary (institutional industry databases, paid sources and trade magazines) data collection techniques. A detailed qualitative and quantitative assessment is included in the report.

The typical segment includes:

  • Credit card debt
  • Student loan debt
  • medical bill
  • Apartment leases
  • Others

The application segment includes:

Review of the competitive landscape:

  • Basic company facts and a business summary are available.
  • The study document includes information about each company’s sales, pricing methodology, gross margins, revenue share, and growth rate.
  • The operational areas and distribution channels of leading companies are studied.
  • The study includes details on investments, mergers and acquisitions, development models, market concentration rate and new players.

The main players in the report are:

  • Goldman Sachs
  • OneMain Financial
  • Discover personal loans
  • loan club
  • Pay
  • Debt Relief Freedom
  • National debt relief
  • Rescue One Financial
  • ClearOne Advantage
  • New era debt solutions
  • Pacific Debt
  • Approved Debt Relief
  • CuraDebt Systems
  • Guardian Debt Relief
  • Debt negotiation services
  • First Debt Help
  • Oak View Legal Group

Prospects for the region:

  • The study examines the economic indicators of major nations and their influence on the overall growth of the industry.
  • The consumption growth rate and market share of each region throughout the analysis period are also provided.

The regions analyzed in the report are:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
  • South America (Brazil, Argentina, Colombia and rest of South America)
  • Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and Rest of Middle East and Africa)

ACCESS THE FULL REPORT: https://www.marketquest.biz/report/111268/global-consumer-and-corporate-debt-consolidation-market-2022-by-company-regions-type-and-application-forecast-to-2028

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This report can be customized to meet customer requirements. Please contact our sales team (sales@marketquest.biz), who will ensure that you get a report tailored to your needs. You can also get in touch with our executives at +1-201-465-4211 to share your research needs.

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Using a Home Equity Loan for Debt Consolidation https://adventurebase100.org/using-a-home-equity-loan-for-debt-consolidation-2/ Thu, 20 Oct 2022 04:32:41 +0000 https://adventurebase100.org/using-a-home-equity-loan-for-debt-consolidation-2/ Using a Home Equity Loan to Consolidate Debt How to use a home equity loan to consolidate debt? More importantly, how do you choose between these two options when use home equity consolidate debt? Let’s take an example, knowing that Rocket Mortgage® allows borrowers with a high credit rating to borrow approximately 90% of their […]]]>

Using a Home Equity Loan to Consolidate Debt

How to use a home equity loan to consolidate debt? More importantly, how do you choose between these two options when use home equity consolidate debt?

Let’s take an example, knowing that Rocket Mortgage® allows borrowers with a high credit rating to borrow approximately 90% of their home equity.

Kristen wants to consolidate her student loans and credit card debt.

First, she determines how much of her home equity she can tap into by determining her loan-to-value (LTV) ratio. She calculates her LTV by subtracting the remaining balance of her 90% primary mortgage from the appraised value of her home. In this case, Kristen’s home is valued at $300,000 and her remaining mortgage balance is currently $150,000.

$300,000 x 0.9 = $270,000

$270,000 – $150,000 = $120,000

In this example, Kristen could borrow $120,000 to consolidate her debt.

Next, she must decide if she wants a home equity loan or a HELOC. In this case, she decides to go for a home equity loan based on the type of loan she has – student loans and credit card debt. A lump sum will help her take care of her student loans all at once.

If she wanted to consolidate debt, but also use funds to renovate, a HELOC would be a good option because she could spend the money as needed.

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Best Debt Consolidation Loans of October 2022 – Forbes Advisor https://adventurebase100.org/best-debt-consolidation-loans-of-october-2022-forbes-advisor/ Tue, 18 Oct 2022 07:02:00 +0000 https://adventurebase100.org/best-debt-consolidation-loans-of-october-2022-forbes-advisor/ LightStream is a consumer lending division of Truist, which formed from the merger of SunTrust Bank and BB&T. The platform offers unsecured personal loans from $5,000 up to $100,000. Loan amounts vary depending on the purpose of the loan. Although a number of lenders offer loans smaller than the LightStream minimum, few lenders offer a […]]]>

LightStream is a consumer lending division of Truist, which formed from the merger of SunTrust Bank and BB&T. The platform offers unsecured personal loans from $5,000 up to $100,000. Loan amounts vary depending on the purpose of the loan. Although a number of lenders offer loans smaller than the LightStream minimum, few lenders offer a higher loan maximum. Repayment terms are available from two to seven years, making it a great option for those who want to spread the payment of large expenses over time.

In addition to offering attractive and flexible terms, LightStream does not charge any set-up, late payment or prepayment fees. The lender is also offering a 0.50% rate discount to borrowers who sign up for autopay – higher than most lenders with the same benefit – as well as a 30-day Lending Experience Guarantee to ensure borrower satisfaction, Covid-19/hardship assistance and rate-beating program. LightStream will beat a competitor’s interest rate by 0.1% for applicants who meet certain criteria.

LightStream offers loans in all 50 states, as well as Washington, DC, and Puerto Rico, and applicants can contact the lender’s customer support team seven days a week; current borrowers have access to customer support Monday through Saturday. And, although LightStream does not offer a mobile app for loan management, customers can access their account through LightStream.com.

Eligibility: LightStream recommends that applicants have good to excellent credit before applying for a personal loan. To increase their chances of approval, applicants must also have several years of credit history, including multiple account types, as well as an income stable enough to pay off current debts and a new LightStream loan.

LightStream does not provide prospective borrowers with the ability to prequalify for a loan. This fact, combined with the minimum credit score requirement, makes the platform a better choice for those with a strong credit profile. Applicants with excellent credit are also more likely to obtain favorable terms. LightStream does not allow co-signers, but potential borrowers can submit a joint application.

The loan uses: LightStream personal loans can be used for a variety of purposes, from buying a new car, RV or jewelry to paying for home improvements. However, LightStream really stands out because the loans can be used to finance land, timeshares, and so-called tiny homes. As with other major lenders, LightStream prohibits the use of its personal loans for post-secondary education expenses, business purposes, and illegal activities. Borrowers are also prohibited from using LightStream loan funds to refinance an existing LightStream loan.

Completion time : LightStream borrowers can receive funds the same day if the loan is approved by 2:30 p.m. EST on a bank business day. To receive same-day financing, the applicant must also review and electronically sign the loan agreement; provide LightStream with funding preferences and relevant banking information; and complete the final verification process, all before 2:30 p.m. on the day the loan is approved.

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Debt consolidation: how to get out of holiday debt https://adventurebase100.org/debt-consolidation-how-to-get-out-of-holiday-debt/ Mon, 10 Oct 2022 20:49:06 +0000 https://adventurebase100.org/debt-consolidation-how-to-get-out-of-holiday-debt/ If you’re looking to get rid of your holiday debt quickly, a smart strategy is to consolidate all your debt into a new loan with more favorable terms. This can guarantee you a lower interest rate, which means you’ll have a smaller monthly payment and can pay off your debt faster. Different debt consolidation options […]]]>

If you’re looking to get rid of your holiday debt quickly, a smart strategy is to consolidate all your debt into a new loan with more favorable terms. This can guarantee you a lower interest rate, which means you’ll have a smaller monthly payment and can pay off your debt faster. Different debt consolidation options can help you pay off your vacation debt faster.

The holidays are over and now it’s time to pay the piper. If you’ve gone a little overboard with your spending, you’re not alone. According to a recent study, the average American has a vacation debt of $1,000.

Debt can be a real inconvenience, especially during the holidays. But don’t worry, there are things you can do to control your vacation debt. Check out these tips and get back on track.

Debt Consolidation: Vacation Debt

As the holidays approach, many Californians are beginning to feel the pressure of freebies and travel expenses. For some, that means racking up credit card debt, using buy-it-now services, pay later, or taking out personal loans. Although the holiday season is a time of joy for many, it can also be a source of financial stress for some.

It is important to keep track of what you owe.

Photo credit: Trismegistus san

Start by making a list of all the debts you have. Indicate the type of debt, the name of the account and the balance due. This will give you a good overview of your overall debt situation. If you have multiple debts from different sources, be sure to include them all.

It’s important to stay organized when it comes to your finances and know how much you owe on each debt. Write down the minimum payment amount, interest rate, and payment due date for each.

Staying organized with your finances is key to avoiding astronomical bills. Make a list of all the debts you owe, including the amount, minimum payment, interest rate, and due date for each one.

Make it affordable

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Debt consolidation can be a difficult thing to deal with, but there are ways to make it more manageable. One of these ways is the 50/30/20 budget. With this budget, you allocate 50% of your monthly income to necessities, 30% to needs, and 20% to savings and debt repayment. This can help you better manage your income and expenses and ultimately help you get out of debt.

Make a payment plan

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Start by understanding how much you owe and what your budget is. Next, create a repayment plan that will help you pay off your vacation debt as quickly as possible. making more than the minimum monthly payments will help you reach your goal faster.

You don’t have to pay more than the minimum on all your debts at this time. You can focus on one debt at a time using the snowball or debt avalanche method.

Debt Snowball vs. Debt Avalanche: What’s the Best Way to Get Out of Holiday Debt? If you are considering two different debts, one with a higher interest rate and one with a lower interest rate, which should you pay off first?

The debt snowball method says that you must first pay off the debt with the smallest balance while making the minimum payments on the others.

Check out ways to get out of holiday debt

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Here are some tips to help you pay off your debt faster:

Earning more money gives you the opportunity to pay off your debts faster. You can earn extra money on the side (for example, by walking your dog or using a cashback app).

Try to negotiate with creditors

If you are unhappy with the interest rate charged to your credit card, call your issuer. It might pay off – you might be able to get a lower rate or more favorable terms.

Consolidation optional

Debt consolidation can be a useful way to manage multiple debts by combining them into one payment. This can help reduce the total amount you pay over time and get your finances back on track, making it easier to manage. Usually you will need a good or excellent credit score to qualify. Even if you have bad credit, there are options to help lower your interest rate. By doing this, you can pay off your debt faster and start fresh.

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