Economics Finance

Are you having difficulty buying your dream home because you don’t qualify for any of the available loan programs? But do you have a stable job which provides you with enough income to actually buy a home? If so, then you should take advantage of the lease purchase program.

This program is a simple yet beneficial one for both the landlord and the tenant. What happens is that the buyer pays a small down payment for the home and he can automatically move into it. Then each month he pays a small amount of money as if he were renting the place. Once the full price of the house has been paid then full ownership of the home is transferred to the tenant.

The advantages of engaging in this method of buying a new home are great. Firstly, you will only need to pay a small down payment. Likewise, you can move into your home right away. Also, you don’t need to go through the trouble of filling up stacks of forms, each of which has a chance of being rejected.

Here, you only have to fill up a single form in which you promise to pay for the entire selling price of the home. Then, you’re good to go. Keep in mind that by signing this contract, you are legally bound to buy the home. That means that you just can’t change your mind in the middle of paying the monthly dues. Continue reading ‘What’s So Great About the Lease Purchase Program?’ »

Nowadays, when the term “married couple” crops up, this refers to registered civil partners as well as married couples. This includes civil partners of the same sex. If you don’t leave a will, then unless your partner falls into this category, they won’t inherit anything. No matter how long the relationship and the period of co-habiting.

There will be talk of Nil Rate Bands when it comes to Inheritance Tax. Although Inheritance Tax has its complications, there are basic rules which are easy to understand. The Nil Rate Band is the part of the total estate which someone leaves when they die, which does not attract Inheritance Tax.

The Nil Rate Band is subject to change but in 2009 the figure or 325,000 pounds applied. So when an estate has been valued at a figure of less than this amount, no Inheritance Tax will be due. Since the end of 2007 if the first person in the couple is deceased and has left the estate to their spouse or legal partner, then that partner will leave two Nil Rate Bands. This is quite straightforward, but if gifts have been made in the last seven years of the life of the first to die, then the amount of Nil Rate Band will be reduced. Continue reading ‘Inheritance Tax, Intestacy and More’ »

Are you looking to work from home and are trying to find work from home jobs? I know exactly how it is to search for countless hours for something that seems like is impossible to find. I want you to know that your efforts have not been wasted because you finally came across this article.

The Internet offers many opportunities for you to take advantage of but of course many people are not aware of them because most people are afraid of the Internet. Can the Internet be trusted? This is one of the most popular questions amongst people who have no experience whatsoever on the online world. I remember when people were afraid to put their credit card numbers, bank accounts and any sort of that information on the Internet because they thought that some kind of hacker is waiting for them to put the information in. Continue reading ‘How to Find Work From Home Jobs – Can the Internet Be Trusted?’ »

1. One of the most valuable personal money management tips I can offer is to use a budget planner. Having a visual idea of your finances makes the process of keeping track not only easier but more accurate and of course also provides you with that important feeling of control.
2. Opening an online savings account offers you a much higher interest rate than a branch account. Having no branch or ATM access also means you are more likely to keep your savings than dip into them on impulse as withdrawing from this type of account requires transferring the funds into your normal bank account and usually takes at least 24 hours.
3. Don’t save at the expense of your social life, but don’t let your social life stop you from saving. Studies show that people who include an allowance in their budget for enjoyable activities are more likely to stick to their budget and therefore save more in the long term. When you resent your budget and feel restricted by it you will be more inclined to break it and ultimately loose track of the entire thing. Remember, life is all about balance.
4. Review your budget on a regular basis. By establishing the habit of sitting in front of your budget planner and bills one night a week you will be developing a habit that ensures you are always on top of things. In time you will begin to notice ways in which you can improve your budget while freeing up more cash, or perhaps notice a few leaks that need to be plugged before they get out of control.
5. When it comes to regular savings, change your mindset. To illustrate; when you receive a bill in the mail you know you can’t avoid paying it, there is no way around this, it is a social norm. Start thinking of your savings account as a bill that must be paid and even if that bill is only $5 a week; pay it before you do anything else.
6. These days most people (in the first world at least) receive their pay cheque as a direct deposit into their bank account. Decide on an amount of money you can reasonably save out of each pay and ask your boss or payroll department to split your pay cheque with a set amount going straight to your savings and the rest going to your normal account. With that small amount out of sight it is also out of mind and you won’t miss it. Continue reading ‘10 Super Savvy Personal Money Management Tips For the Household Budgeter’ »

1. You Cannot Remember The Last Time You Filed A Tax Return

If you are earning income and have not filed a tax return for a few years, then you might want to consider hiring a tax attorney. Even if you do not think that you owe the IRS money, a tax attorney can provide you with a full review of your IRS account to determine if you are owed any refunds.

2. You Get An Assessment Letter From The IRS

If you receive an assessment letter in the mail from the IRS, then it means they have determined that you owe them money. The first letter they send informs you of the situation and outlines the penalties and interest they are adding to your debt. If you do nothing, your debt will continue to increase. Alternatively, if you retain a tax attorney, they can begin working to settle your debts.

3. The IRS Files A Lien Against Your Property

If the IRS assesses a tax debt against you and you do not respond, then they will begin the collection process. First, they may send you a Notice and Demand for Payment. If you do not respond after 10 days, then they can file a public Federal Tax Lien against you. The lien will attach itself to all of your property including homes, land, vehicles, etc. In order to get the lien released, you will need to first settle your IRS debts. This can be done by either paying the amount in full or hiring an attorney to negotiate an IRS settlement such as an Offer in Compromise. Continue reading ‘6 Signs You Should Retain a Tax Lawyer’ »

One of the most common questions asked by someone considering retirement to the Philippines is “how do I send my retirement money into the Philippines after I relocate there?” Most people retiring to the Philippines have their ongoing income (pension, annuity, investment income, etc) generated in their home country, but need to get it to their retirement home in the Philippines. With the advent of the internet, combined by an ever increasing number of people retiring to overseas, moving money into the Philippines is no longer a difficult matter. Of all the methods to transfer money, I have found the following to be the best ways:

1. Bank Wire Transfer

You need to set up a US dollar account at a bank in the Philippines and then wire transfer funds from your home country bank to your Philippines’ account. You wire transfer money from your home country bank by signing up with their procedures for sending wire transfers while out of the country. One you have signed up with your bank’s procedures to do this, it is a quick way to send money to the Philippines. However, it is expensive. Depending on the amount being transferred, the wire can cost as much as $75. Clearly, you would not want to transfer money more than once monthly.

2. Use a Philippine National Bank Transfer Facility.

If you are in your home country at the time of wanting to make a transfer, and there is a Philippine National Bank transfer facility nearby, a wire transfer of funds to a Philippine bank is relatively inexpensive. The fees are based on a sliding scale: the more money you transfer the bigger the fee, but the fee decreases as a percentage of the transfer as the amount of the transfer increases. Continue reading ‘Sending Money to the Philippines – 7 Ways to Send Money to the Philippines’ »

I received an e mail last week from a lady that was in a desperate situation. She had co-signed a student loan for a relative and had recently been notified that she must begin making a monthly payment of nearly $800 (since the student had defaulted). This is money she simply doesn’t have. While she thought she was doing a good deed helping a young person to obtain financing to go to college, she is now on the hook for nearly $10,000 per year in debt payments for the foreseeable future.

“A person devoid of understanding shakes hands in a pledge and co-signs for a friend.” (Prov. 17:18)

I regularly receive e mails from people wondering about whether or not they should co-sign to help out a loved one or a friend. This can be for a student loan, auto loan, a mortgage, or even a credit card. While I was working in the mortgage business several years ago, it became apparent how little people understood about the financial and legal ramifications of co-signing.

On numerous occasions I had to inform a client that their loan had been turned down due to a loan they had co-signed. In some cases, the loan was not being paid on time and it had destroyed their credit. In other cases, the addition of another monthly obligation caused their debts to represent too high of a percentage of their income for an approval. They all seemed to be in a state of disbelief saying, “but it is not really my debt…” Unfortunately, lenders do not see it that way. Continue reading ‘5 Dangers of Co-Signing a Loan’ »

Everyone has thought of starting a business at some point. Whether you are ready to start your first business or are already an entrepreneur just looking to diversify, a Credit Repair Company may be your best bet as a viable business for investment. Starting your own Credit Repair business may not have originally come to mind, but here is a list of reasons why you should consider starting a Credit Repair Service of your own:

· It can be done Part-time or Full-time
· Credit Repair will always be in demand
· It can be started with little or no money
· No Licenses or Certifications required

You can educate yourself on ways to keep your own credit in great shape One other great benefit Who wouldn’t want to help people if they could? A Credit Repair Service is an excellent way of doing just that. If you haven’t, then certainly you know someone who has had to suffer the consequences of having bad credit. We hear stories everyday of people barely getting approved for loans, and when they do, they end up paying extra points for a higher interest rate. Having less than desirable credit is not only a hassle, it can be crippling. Continue reading ‘Starting a Credit Repair Company is a Wise Business Choice in Today’s Economy’ »

Structured settlements are financial agreements that are worked out between a claimant and a defendant in tort proceedings. The two parties decide on a tax-free financial settlement that is paid out over a period of time that is determined by the claimant. Organized by Congress during the 1970s, these settlements were designed as an improvement over lump sum payments.

Nevertheless, our financial system has been ravaged by the decline for the last two years. Bankruptcies, foreclosures, and unemployment rates have increased greatly, putting many persons and families at risk. Hence, plenty of people have looking for a method to sell their future annuities in order to get structured settlement cash.

While these arrangements were proposed to help people be more financially conscientious, there are circumstances where liquidity is required. People are curious about how to get settlement cash in case they need to pay a bill or want to make a large purchase.

Most people who need to get cash for their settlement should make use of a structured settlement broker. Structured brokers submit your offer to a number of underwriters and help you choose the one with the greatest terms. In addition, brokers are able to review your unique financial circumstances in order to help you figure out the best course of action. It is not suggested that you attempt to sell your structured settlement without a broker. Continue reading ‘How to Get Structured Settlement Cash’ »

If you have been trying to get a car loan with a negative credit score, you have probably tried the traditional route. This would include going to the dealers in your area, maybe one or two, and going through the typical application routine. This can be one of the toughest ways to get auto finance, in your situation.

An easier way of getting approved is through what is called a “lending network”. There are a couple places online that allow you to get paired with lenders based on your credit history and income level. That way, rather than you having to hop all over town filling out credit applications, all you have to do is fill out one form. With so many lenders in the United States, it’s easy to imagine how there are lenders for everyone of every credit type, including yours.

The best part is that the lenders in these types of networks are screened. No predatory lending practices are tolerated and you can expect exceptional customer service from these types of lending sources. Getting an auto loan when you’ve got a negative credit score is not as troublesome as you might imagine. The secret to a simple, hassle-free approval lies in simply using the right sources. Continue reading ‘Help With Getting a Car Loan With a Negative Credit Score – Bad Credit Auto Finance For All People’ »