Microfinance Brazil - The Birthplace of a Revolutionary Concept

Let's take a trip back in time, shall we? The year: 1973. The place: Brazil. It was here that Accion International distributed the first ever microloan. Microfinance in Brazil was born. It wouldn't take long for other countries to catch onto this powerful concept of providing small loans to the working poor, allowing these individuals to create their own businesses, save, and invest so they could pull themselves out of poverty.

Now, fast forward back to the present. As it stands, some $25 billion in microfinance loans is currently working to help the extremely poor create long-term financial independence in their lives. Microfinance institutions are popping up in developing countries throughout the world, and nonprofit organizations are working tirelessly to raise more funds so that extreme poverty will soon be a distant memory.

Microfinance in Brazil and elsewhere is about more than just giving out loans. It's about educating and empowering the poor, many of whom are women, to create better lives for themselves. That's why the process doesn't just involve doling out small loans, but it also includes educating the recipients of the loans on sound business principles and proven money management techniques that allow them to grow their assets. The result? Recipients of microfinance loans are able to pull themselves up out of poverty because they are armed with the knowledge and the resources needed to make a better life for themselves.

Since the birth of microfinance Brazil, the industry as a whole has given loans to over 100 million poor people throughout the world. The amazing part? Over 97% of these loans have been repaid. This is proof that microfinance is more than a hand out; it's a long-term solution that creates a sustained positive impact in the lives of those who receive these loans.

But there is still a lot of work to be done before the microfinance industry reaches its goal of eradicating extreme poverty. Estimates show that about $250 billion is needed to get these loans to all the poor people in the world who need them. Thankfully, there are several nonprofit organizations working diligently to make this dream a reality.

One such group is Lingerie Miami. This revolutionary philanthropic brand uses the powerful world of fashion to raise funds for microfinance institutions throughout the world. The first fashion show was held in February 2009, and it attracted top fashion designers and A-list celebrities (the event was hosted by Eva Longoria-Parker). Created by Renata Black, this exciting new concept is being taken to New York and other major cities throughout the world in the near future.

Proceeds raised from Lingerie Miami and future shows directly benefits microfinance Brazil and several other countries. With the help of this philanthropic brand and other similarly-minded nonprofits, the microfinance industry hopes to reach its goal of eradicating extreme poverty and world hunger and promoting gender equality throughout the world.

Australian share market information

If you are looking for stable and perspective investment opportunities, consider investing in Australian Share Market, which will not only allow you to profit, but also to participate in the growth of Australian and international businesses and their future profits. By investing in Australian Share Market you will bring the risks down to minimum as this market is supported by the country's strong economy and its continuous trend of growth. You will be able to choose among 2000 various companies that are being listed on the stock exchange, and these companies represent a market capitalization which totals whooping 1, 5 billion Dollars. Australian Securities Exchange or ASE is listing the shares that are classified within indices, based on their industry and size. Also, there is classification of the companies according to industry sectors they belong to, which is based on Global Industry Classification Standard. Australian share market is suitable for those investors who are looking to invest in long term opportunities, as shares are generally considered to be an investment of higher risk and higher return. Australian share market has traditionally been providing a long term growth, although there were some short-termed returns which have been fluctuating at times. If you decide to invest in the Australian share market, you may expect some amount of negative returns once every 5-7 years, which makes Australian shares almost ideal for long-term investing, preferably within 7 years and plus time-frame. Although the vicissitudes in returns that you get from shares cannot be completely eliminated, they can be greatly reduced as time passes.

BHP Billiton - A committed and strong work force

If you belong to those investors who are interested in commodities, BHP Billiton has given all the hints how you should invest over the next year. You shouldn't ignore these tendencies set by large companies such as BHP Billiton, as they are subtly telling you what to avoid, what to buy and when. When raw material consumers start rebuilding their stock piles, the commodity prices start to climb. However, these short-termed fluctuations in commodity prices shouldn't get you carried away. There are many commodity producers, like BHP Billiton, who have idled wells or mines and any occurring price increase will only be temporary, as it will result in bringing those idled capacities back onto the market. The result of that will be depression of prices, which will last for a while. If you carefully observe behaviour of the big players, such as BHP Billiton, you, as an investor will be able more easily to figure out whether or not and which commodity stocks to buy. You should look for those commodities of which the production hasn't increased because of the recent increase in prices. If you pick the stocks in these sectors, you are on for a nice short-term gain, because it will take a while to get the mines back to production, there will be a lag in new supplies, which will give the producers such as BHP Billiton a great share of the recent increase in prices. Also, you should look for these commodities where the consuming companies have increased their production and end product prices, as it will often be enough to trigger additional demand in supplies and growth of commodity prices.

The latest business news

If you would like to plunge into investment business or you are already swimming in the business waters, you are well aware how important it is to regularly track latest business news. There are a lot of reliable resources of information available both on and off-line, which are oriented toward helping investors to achieve the financial security. These resources are providing relevant business news, instructions and strategies, which are all invaluable keys to successful investing. The Wall Street Journal and Investor's Business daily are among the most popular and most comprehensive publications that you will definitely need to consider if you want to succeed in your investment endeavours. Business news publications are often including highly valuable sections about different companies and are covering all the information the investors need and want so they could prosper in their business. For business entrepreneurs and investors, it is of extreme importance to find a reliable and unbiased source of timely information, which will help them to both protect and maximize their finances. Business news publication of your choice, whether off line or on line, needs to be informative enough, to give valuable tips in a wide range of business fields and to teach their readers how to rely of the subject's history rather than on their gut-feeling when it comes to investing. Latest business news will greatly help you to get oriented in the world of business and investment, and arm you with knowledge necessary to make the right business moves at the right time.

What happened to the federal budget?

Do you need some safe investment opportunities that will provide you with secured income? Have you considered investing in federal budget? In these turbulent times, investors have a difficult time deciding where to put their money. The safest bet would be if you put it under the mattress, but that option will not bring you any interest. Those looking for a safe and solid investment opportunity should seriously consider the federal budget trust funds. Trust Funds have been placed as a way of funding the federal budget and are considered as one of the most important groups providing the income necessary for running of the government. Funds that are being invested in trust funds are further distributed to social security, Medicare, unemployment insurance and a great number of other programs. In accordance with the law, the funds are being invested on a daily basis in government bonds, which allows for a higher interest rate. Government Trust Funds are those funds which you and other investors are giving to the Government in order to manage the federal budget. These funds are further being invested in investment vehicles guaranteed by the government. Depending on your investment style which you choose, the amount of investment returns will also differ. Available investments may be in a range between conservative, medium and high risk investments. You may consult your broker to help you with appropriate information on investment strategies that are advisable at the given moment and that will best fit your style of investment.

Withdrawing From 401K

Withdrawing from 401k accounts can be done, but only under a number of very specific circumstances. If these circumstances are not met you will be charged a very large penalty for cashing out even a portion of the funds. These accounts have strict rules set up to protect your investments that, unfortunately, can make it very hard for you to get to the funds yourself.

The easiest and intended way to payout a 401k is after you turn 59 years and 6 months old. This is considered retirement age, and you can cash out your account without penalty. It is important to note that you do have to start taking from the account by the time you turn 70 years old.

If you are not yet old enough to do this, you do have some other options under some plans for withdrawing from 401k, so you'll want to check with the company your account is with.

One option that will work for any circumstances you need the money for are 401k loans. You can borrow up to $50,000, or 50% of the account balance, whichever is less. You do have to repay the money within five years, if you don't then the money will be considered cashed out as though you had cashed out in the first place and you will have to pay the penalties. The interest on these loans are low, and the money you pay in interest goes right into your account.

When you are in a situation of economic hardship, where you will lose your home or you have medical bills you can take money out without fees, but this money has to be repaid.

Some plans will allow you to pay for classes that further your current career by withdrawing from 401k funds.

If you take money out of your account that doesn't follow the guidelines for any of these allowed circumstances, you will be charged a large penalty. Cashing out, and paying this penalty, can only be done when you have left your current employer. At this time you have 30 days to decide to leave the money with your current employers 401k, roll into a new employers account, roll into an IRA, or cash out.

When you cash out early (before retirement age) you have to pay federal taxes, state taxes, and a ten percent early withdrawal fee. The federal tax percent varies based on your tax bracket, and state taxes vary state to state, so the exact percentage is different for every case. Generally speaking, however, the penalty can easily amount to thirty to forty percent of the amount you take out.

Because of these heavy penalties withdrawing from 401k accounts is only done when customers need money now and feel they have no other choice.

False Sense Of Financial Security - How To Manage Money

Would you say that you are living the 'American Dream'. Right now you are happily married, you have two kids, a dog, a nice home with a white picket fence, you own an SUV and a mini van and you are in debt. Your story is just like thousands of other people in this country. Okay, so your story isn't exactly as I just described but close. In fact the debt part is probably the only absolute truth. You are able to make all of your minimum monthly payments and are making ends meet - or so you think. You've been lulled into the false sense of financial security and think you know how to manage money. The truth to be told is you could be in too much debt. I've created a list of 10 warning signs indicating that you may be in over your head.

1. You have little to no savings

2. You can only make the minimum payment on your credit cards and other bills

3. You have been denied credit

4. You use cash advances from your credit cards to pay other bills such as heat and hydro

5. You are sometimes late with your bill payments

6. You keep making purchases with your credit card adding to the balance

7. You don't even know how far in debt you are

8. Your bank accounts are overdrawn and once in a while you bounce checks

9. You have one or more credit cards that are close to the limit or are maxed out

10. You've been secretive to family and friends about your debt and over spending

Does one or all of these statements sound familiar? Even if only one of those statements is correct you might be in some sort of financial trouble and should probably learn how to manage money once again. The good part is you are able to fix it. The bad part is you must begin taking control of your finances right now. The more you wait, the worse the problem will get. Finances are one thing that cannot be swept under the rug and forgotten about.

STEP 1: Now is the time to make a check list and go through it. Sift through these ten items and find out what ones correspond with you.

STEP 2: Discover a way to correct those problems. You have no savings? Start building an emergency fund. Deposit $25 a week or any amount that is possible to increase that balance to $1000. Do you keep buying things and increasing your credit card balance? Start buying things with cash and start making larger payments to your credit card. The list is important to take care of and you have to fix those problems.

STEP 3: Create some goals and begin to make them into reality. Tomorrow isn't the best time to start making goals. Start today - better yet, create them right now. Don't set your goals too high, create financial goals that are able to achieve like cutting your hydro bill by five or ten percent or save some money by cutting back on entertainment. Small steps are instrumental to goal setting and learning how to manage money.

Being lured into a false sense of financial security isn't hard to do if you don't not know the warning signs of serious financial problems. If you have gone through this list and discovered any matches it may be time to start fixing those problems before your security turns into a huge issue. Knowing how to manage money can be simple and anyone can do it.

Top 10 Stocks > Ten Best Hot Stocks to Buy Right Now – Best Picks

Beginner traders often fantasize or wonder about how some people are able to achieve tremendous profits by trading stocks just a few hours on a daily or weekly basis.

So going farther than the hype & the bells and whistles that a lot of the called "trading gurus" like to invoke, the real "secrets" of the stock market game are enclosed within the trading set ups and market signals you rely on to decide how to CHOOSE stocks, as well as WHEN to BUY & when to SELL them, or even when to SHORT SELL those that are poised for a profitable fall.

So the clearer your set ups are, the faster you can spot a potentially profitable trading scenario and ACT ON IT reducing your risk.

Complicated technical systems and information overload can make you slow and confuse you right from the start, making you loose money instead of making your profits grow.

In essence, You can be sure that the trading method you employ to approach the stock market and pick stocks can make a big difference in your results as a trader. In order to succeed you will need to FOCUS on a set of simple trading strategies that you can implement without hesitation.

Fortunately some sites on the web do offer more effective and updated day trading methodologies. One of those sites that can show you how to take advantage of certain stocks on positive and negative momentum as well is MomentumStockPick.com

They focus on momentum stock trading strategies, that are practical and easier to apply than many other technical systems out there.

Stock trading doesn't have to be complicated as many people perceive. But you do need to follow a well organized set of rules and tactics, that once you master them, you can aspire to replicate profitable trades with consistency

Tax Help Available For Small Businesses By Jennifer Park

Many small businesses tend to procrastinate when it comes to filing for taxes. They behave in this manner for many different reasons. Some are uncomfortable in this unfamiliar territory, so they keep putting it off. Others, caught up in the daily operational issues of running a business, simply can't find the time to sit down to tackle the tax issue.

But filing for taxes is no small matter. It is required by law, and there is a dateline for filing taxes. Therefore, small business owners should take the matter seriously. They may even consider shutting down the business for a day or two just to give themselves time to settle the tax issues. However, for those who are unfamiliar with taxes, a day or two just isn't going to be enough time.

The right thing to do here, is to hire a bookkeeper. A full time bookkeeper will help maintain the books in a well organized and professional manner. When the time comes for filing taxes, everything is a breeze. Still, as the business continues to grow, it may have outgrown the services that a bookkeeper can provide. The needs of the business becomes more complex. In comes a qualified accountant. An accountant is better trained, and will be able to provide valuable advice on a wide variety of financial and tax matters.

If time is running out, it is possible to file for time extension. But bear in mind that this is a quick fix measure. It only gives the small business owner more time to handle the tax matters appropriately. Datelines can be immensely pressurizing. To prevent shortage of time, always plan in advance.

Mostly, an accountant will be able to serve the needs of a small and privately held company. But some companies have the ambition of going public from day one. So they focus more on growth. It's just a matter of time that the business will grow to such a stage where the accountant finds it hard to cope.

The first sign that financial help is required is when the management staff has to deal with financial decisions on a daily basis. For businesses arriving at this stage, the business owners may want to consider hiring a chief financial office (CFO). Usually, the CFO will have several accountants and assistants working with him or her.

The primary role of the CFO is to provide professional financial services to a business that is raising large amounts of capital, or the business has intentions to go public. During the stage of transition, a part time CFO may be hired to oversee financial aspects of the business. Over time, as the business stabilizes, a full time CFO can be engaged.

The key here is to remember that the finances of a business should be managed on a regular basis, and not be left to the last minute. Otherwise, the task ahead will appear overwhelming and insurmountable due to lack of time. Hire the expertise that is needed as early as possible, and keep the books and records clear and organized. This will benefit small businesses greatly.

Resource: http://www.isnare.com/?aid=343915&ca=Finances

Britons Are Keeping Cash in Their Homes By Michael Challiner

Keeping cash in our homes rather than in savings accounts is what five percent of us would rather do, according to MGM advantage, faith in high street banks and building societies has fallen according to the company’s recent Retirement Nation Study. The downfall of Northern Rock hit the north eastern area of Britain particularly hard. This said, confidence in these companies was at its lowest in Plymouth, it was revealed. Regardless of your wealth the trend to store your cash in your home was equally true, suggested the company.

Some eighteen percent of people struggling with personal loans and other debts also revealed they would rather keep their money beneath their mattress than trust it to a financial institute. Keeping hold of their money is what twenty five percent of respondents, with assets over one million pounds, said they would do.

Regardless of these facts, for the majority of us, we prefer to use savings accounts than any other way of investing. Fifty five percent of people asked favoured this method of saving as a means of protecting their future finances. Seventeen percent of people chose pension funds, with just over one in ten of us relying on the property market. In todays economic climate it was no surprise that just six percent of respondents would go for stock market investments.

The difference between men and women, in terms of the type of savings made, was apparent in the report. Some sixty percent of women have a savings account against just under half of males having the same. Also favouring this type of investment were the over sixty fives with again over sixty percent owning an account. Coming out on top though was the younger age group of sixteen to twenty four. This group trust financial companies most with two thirds of them owning a savings account.

Some investors are unaware of the most efficient ways of saving money, according to MGM advantage. Nearly a fifth of participants do not understand key financial terms like individual savings accounts, defined-benefit/final salary schemes, stakeholder pensions, pension credits, equity release mortgages, annuities and indeed independent financial advisory (IFA) services.

Investing in a mutual is something only ten percent of us would do. Instead of a question of trust this is probably due to a lack of knowledge. However, going to a mutual is something that double the number of those who use an IFA would do, rather than those who don't. That said, with less than a third of respondents understanding the term “mutual” it remains at the bottom end of the list of financial terms that are understood by the population. Included in these are “pension credit”, “stakeholder pension”, “defined -benefit final salary scheme”, “annuity” and “FSA”.

Talking about their financial situation is something people are not willing to do even with friends and family, according to Saga. Discussing their pension provision is something thirty eight percent of people will do whilst only fourteen percent will discuss personal loan or credit card debt.

Resource: http://www.isnare.com/?aid=344095&ca=Finances

Britons Are Keeping Cash in Their Homes By Michael Challiner

Keeping cash in our homes rather than in savings accounts is what five percent of us would rather do, according to MGM advantage, faith in high street banks and building societies has fallen according to the company’s recent Retirement Nation Study. The downfall of Northern Rock hit the north eastern area of Britain particularly hard. This said, confidence in these companies was at its lowest in Plymouth, it was revealed. Regardless of your wealth the trend to store your cash in your home was equally true, suggested the company.

Some eighteen percent of people struggling with personal loans and other debts also revealed they would rather keep their money beneath their mattress than trust it to a financial institute. Keeping hold of their money is what twenty five percent of respondents, with assets over one million pounds, said they would do.

Regardless of these facts, for the majority of us, we prefer to use savings accounts than any other way of investing. Fifty five percent of people asked favoured this method of saving as a means of protecting their future finances. Seventeen percent of people chose pension funds, with just over one in ten of us relying on the property market. In todays economic climate it was no surprise that just six percent of respondents would go for stock market investments.

The difference between men and women, in terms of the type of savings made, was apparent in the report. Some sixty percent of women have a savings account against just under half of males having the same. Also favouring this type of investment were the over sixty fives with again over sixty percent owning an account. Coming out on top though was the younger age group of sixteen to twenty four. This group trust financial companies most with two thirds of them owning a savings account.

Some investors are unaware of the most efficient ways of saving money, according to MGM advantage. Nearly a fifth of participants do not understand key financial terms like individual savings accounts, defined-benefit/final salary schemes, stakeholder pensions, pension credits, equity release mortgages, annuities and indeed independent financial advisory (IFA) services.

Investing in a mutual is something only ten percent of us would do. Instead of a question of trust this is probably due to a lack of knowledge. However, going to a mutual is something that double the number of those who use an IFA would do, rather than those who don't. That said, with less than a third of respondents understanding the term “mutual” it remains at the bottom end of the list of financial terms that are understood by the population. Included in these are “pension credit”, “stakeholder pension”, “defined -benefit final salary scheme”, “annuity” and “FSA”.

Talking about their financial situation is something people are not willing to do even with friends and family, according to Saga. Discussing their pension provision is something thirty eight percent of people will do whilst only fourteen percent will discuss personal loan or credit card debt.

Resource: http://www.isnare.com/?aid=344095&ca=Finances

Are Secured Loans the Answer? By Michael Challiner

Homeowners needing some spare cash are being attracted to secured loans as interest rates fall, despite the risks.

As personal loans and credit cards become harder to find with lenders being more selective, consumers are putting their properties up as security.

“There is no doubt that unsecured loan companies are tightening up their lending criteria, secured loans are becoming a very viable option as a result” says Tim Moss, head of loans and debt at comparison website Moneysupermarket.com

As with mortgages, failing to keep up with payments puts your property at risk of repossession.

Historically, secured loans were only available through brokers and were less popular as they were seen as a last resort for people with poor credit ratings. They also had higher rates.

However, secured loans with rates as low as 6.9 percent are now being offered direct to consumers by some companies.

“Loan brokers generally receive commission of between 2,500 pounds and 3,000 pounds per loan sold, so marketing secured loans directly to customers has allowed companies such as Fair & Square and Picture Loans to offer lower rates,” Moss says.

The terms have become easier to understand too. Neil Radley of secured loan provider Fair & Square says: “We recognise that people are often wary of secured lending, which is why we have been careful to make our loans as simple and ¬transparent as possible and to keep penalties to a minimum.”

Homeowners who face severe penalties to leave their low rate deals to remortgage are opting for secured loans, Moss says: “Home improvements are one of the most common reasons for people to take out a loan.

Radley says “Secured loans offer a means of getting some of the money out of your property without incurring penalty charges,”

If people also want to consolidate unsecured debts, a secured loan would be a good option, he claims.

“Our research shows a lot of people have unsecured loans and credit card debts they would like to consolidate at a lower rate to give them greater control,” he says. “Why pay 18 per cent or 20 per cent on a credit card when you could be paying just 6.9 per cent on a secured loan?”

Also saying “I believe secured loans will become more and more popular during the next year or so, that said, you must remember that loans of this kind
are secured against your home, so it is very important not to miss the repayments.”

Planning on taking out a secured loan for home improvements is Andy Symons, 33.

“We are having lots of work done and, as usual, the cost has spiralled above the initial quote,” says Symons.

“I also have some credit card debts I would like to consolidate at a lower rate, so I plan to take out a secured loan of about 30,000 pounds from Fair & Square to cover both.

“I am waiting to hear exactly how much more the work is going to cost before applying.”

This will be the first time Symons opted for a secured loan although he has had student loans and an overdraft in the past.

Resource: http://www.isnare.com/?aid=344092&ca=Finances

Saving the Borrower's Dignity With an Arizona Short Sale By Reed Lattin

Arizona short sale is basically a process where the lender and the borrower enter into an agreement that intends to make the best out of an unfavorable situation. And the situation being described here is none other than an economic recession or slump. When the economy is down, people who mortgaged their homes will be less able to pay for their debts. With Arizona short sale, borrowers like you can have a better chance to turn around and avoid foreclosure. For instance, if you qualify for a short sale Phoenix, your bank or lender agrees to take payment that is much lower than the amount you owe them. In short, an Arizona short sale is a better way to deal with your mortgage compared to getting your property foreclosed.

Nevertheless, many people are still not aware that AZ short sale does exist. Worse, not many realtors are knowledgeable about how an Arizona short sale is processed. Therefore, many people are not taking advantage of the many benefits that an Arizona short sale can offer lenders, borrowers and, believe it or not, even buyers of properties. For people who are into buying and selling real estate, AZ short sale is a good way to drum up business even during a financial crisis.

It is important to note though that Arizona short sale is not a favor from banks or lenders. It is not something that they do out of charity for defaulting borrowers. A statewide Arizona short sale or a more focused short sale Phoenix is actually part of the standard business procedures that banks often do. It is a way for lenders to cut their losses. Instead of retaining non-cash assets in their books, banks and other mortgage lenders would rather have cash. So, in a short sale Phoenix, borrowers like you do not have to feel indebted to the lender, whether in cash or goodwill.

Arizona short sale can help you make things right at a time when financial failures and disappointments are rampant. Arizona short sale, also called AZ short sale, comes in many forms. And not all of them end up in total cancellation of debt. There are cases when the borrower still has to pay the remaining balance between the amount owed and the proceeds from the short sale Phoenix. So, make sure to clear things up with your bank's loan officer.

It feels really bad when people are losing their homes due to foreclosure. Losing ownership to your home can ruin your very sense of dignity. Fortunately, Arizona short sale can protect you from embarrassment. It is true that an AZ short sale will also result in losing your home. Nevertheless, it is so much better than having to face foreclosure. An Arizona short sale sets you free from your mortgage debts at a lower cost. When you pass for a short sale Phoenix or a statewide Arizona short sale, you definitely avoid bad credit rating. Overall, AZ short sale means you can have a better control of your finances even when the economy is on a downward trend and your resources are tight.

Resource: http://www.isnare.com/?aid=343464&ca=Finances

Higher Rates on Personal Loans for the Less Well Off By Sheila Challiner

Anyone who may fall into the lower income bracket and those with a poor credit record are going to have to pay higher interest rates, up to 19.9%, to enable them to borrow money for a personal loan.

It seems very unfair but it has recently emerged that the Nationwide Building Society, the largest in the UK, are basing their interest rates on the assessed risk of the individual client. Up until now, the system that has been used across the board within the industry has been very straight forward and rates have been based on the amount of the loan, not on the credit history of the borrower.

At Nationwide, as with many other lenders, the street cleaner or the lawyer, will not pay the same basic rate for a loan as before, but, the person with the smallest income will pay the highest rates and the higher earner who is likely to be financially secure will get their loan at a lower rate.

This trend has been implemented throughout many of the finance companies long before now, say Nationwide, and they are merely ‘jumping on the band wagon’.

At the end of the day, the final outcome is that those on lower incomes in our society will find borrowing much more expensive and harder to achieve – for some this could make it impossible to make a major purchase and for many, even harder to make ends meet.

In such troubled economic times the Nationwide say that they have to be cautious and cannot risk their finances against people who simply do not, or are not trusted to pay their debts. It is a time of major instability in the housing market with an increase in people losing their homes and also many becoming bankrupt.

Using the system of risk-assessed lending a well-off or low-risk person wanting to borrow 1,000 to 3,000 pounds would be charged at a rate of 15.9%, whereas the less well-off, high-risk customer would have to pay interest at a rate of 19.9% - quite a difference and in the cold light of day, compared to the Bank of England’s 2% base rate, 15.9% is plenty high enough.

As the amount borrowed increases, say to 5,000 to 7,500 pounds, the interest rate for the low-risk customer with a good credit history drops dramatically to 8.9%, but, for the high-risk borrower it only drops by 3% to 16.9%

Jeremy Wood, Nationwide's director of Consumer Finance, justified their move by saying: 'As a prudent lender in the current credit environment it is important that, in pricing personal loans, we are placing a greater emphasis on risk and lending appropriately.'

From the Moneynet website, Andrew Hagger, a personal finance expert said: 'The net effect is that the people who can least afford it end up paying more.'

The decision by Nationwide to follow suit behind other big financial companies has proved to be extremely controversial and very much on a tangent from the requests of other banks, Members of Parliament and the Government to be fair in their treatment of customers.

Plans have been revealed by Ministers to bring in a strict code of regulations for banks which will be regulated by the Financial Services Authority and legally enforced.

Resource: http://www.isnare.com/?aid=344199&ca=Finances

HGV Insurance Information By Stanley Headley

The Department of Transport manages road traffic legislation in the UK. Their purpose is to ensure that anyone using the public highways complies with this legislation.

Both the police and Vehicle and Operator Services Agency (VOSA) take the lead in enforcement by maintaining a roadside presence, as well as stopping and checking vehicles and driver’s are compliant. This includes checking that all necessary documents and licenses appropriate to heavy goods vehicles are current, authentic and valid, including HGV insurance.

Carrying hazardous or dangerous goods have increased risks of being involved in accidents or incidents which can have potentially disastrous consequences, such as tanker fuel explosions.

Hazardous goods are classed at different levels; there are regulations which deal specifically with the carriage of dangerous goods. These regulations place duties on all involved with the carriage of these types of goods to ensure they know what they have to do to reduce the risks. It is the haulage company’s duty to inform HGV insurance companies the nature of the goods they are carrying in order for accurate assessment and insurance policies which will typically include Employer’s liability insurance and Public Liability insurance.

There will always be risks associated with driving. Carrying out regular risk assessments on all vehicles, employees, loading and unloading areas is seen to be a very proactive way to reduce the risk of accidents and injuries which HGV insurance companies look favourably on.

Employers have responsibilities to their employees under the Health and Safety at Work Act to maintain their safety and reduce as many risks as possible. This includes driving time, as well as riding in a vehicle while at work whether it is in a company, hired or personal vehicle.

Driver tiredness is thought to be a major cause of road traffic accidents involving HGVs. The number of fatalities due to sleep related accidents is three times higher than other accidents as drivers fail to swerve or apply their brakes.

Hard hitting advertising campaigns have been launched by OSA to bring people’s attention to the risks of sleep disorders. One particular visual image is that of a young girl wearing a t-shirt with the slogan ‘Daddy used to drive a big lorry, then he fell asleep’ in bold lettering across the front. For the haulage industry HGV insurance premiums continue to pay huge amounts of money for road accident claims, screening drivers for sleep related conditions is encouraged to try and reduce the number of accidents involving HGVs on the UK’s roads.

Up-dating driver training is a pro-active safety measure which may help reduce the risks associated with driving a heavy goods vehicle. Insurance companies will be happy to help you find the most suitable and applicable training and re-training for your truck drivers. Some HGV insurance companies will reward such positive steps and offer generous discounts for those who care and look after their drivers.

Driver training can also be a cost effective way to help reduce fuel and vehicle maintenance costs. Training drivers to reduce excessive breaking and be less heavy with their right foot on the accelerator can not only help reduce the risks of accidents and HGV Insurance claims, but save your company money!

Resource: http://www.isnare.com/?aid=343204&ca=Finances

Payment Premium Insurance (PPI) to be Axed by the Big Banks By Mark Aucamp

The Financial services Authority (FSA) has fined banks and lenders for the mis-selling of Payment Premium Insurance (PPI) and for failing to treat their customers fairly. Payment Premium Insurance cover (PPI) is sold to borrowers to cover them against the risk that they may not be able to pay their monthly payment on a credit card balance, mortgage or personal loan; due top ill health, accident or redundancy. PPI has in the past been a major source of income for banks, finance companies and retailers .The commissions paid received would have been from 25% to 75% of the total payment for the protection policy taken out. This is outrageous!

Todate the following banks, finance companies and retailers have been fined:

• Capital One was fined £175,000
• HFC Bank, (trading as Beneficial Finance & Household Bank) was fined £1,085,000
• Alliance& Leicester was fined £7,000,000 (million)
• Liverpool Victoria was fined £840,000
• Egg Bank was fined £721,000 recently
• GE Capital Bank was fined £610,000
• Loans.co.uk was fined £455,000
• and other retailers.

A whole reclaim industry has grown on the back of Payment Premium Insurance being mis-sold and anyone with a personal loan, car finance or a mortgage should check if they have a single premium policy as they could claim their money back.. Some companies have been ruthless in their sales techniques whilst others have just mislead customers into believing that they would not get their loan or finance agreed if they did not take out PPI protection.

Finance companies and Banks have been guilty of selling big chunky sized Payment Premium Insurance policies; usually around £3,000 to £4500 which they have then added to the mortgage, finance or personal loan agreement. The payment for the PPI cover would then be added to the initial loan amount. This would increase the amount borrowed by a few thousand pounds and finally Interest would then be charged on the entire life of the loan. Outrageous!

The Competition Commission would like banks, finance companies and retailers to stop selling PPI policies for 14 days after the finance was arranged. In early October last year the Financial services Authority (FSA) said it would be stepping up its action over the mis-selling of Payment Premium Insurance (PPI) in the future. It is little wonder that Royal Bank of Scotland, Nat West Bank, Barclay, Lloyd Banking Group, Alliance & Leicester, and the Co-Operative Bank have announced that they intend to stop selling single block Payment Premium Insurance (PPI) with personal loans by the end of January. The FSA now hopes that other firms will follow the lead of the Big Banks and cease selling Payment Premium Insurance (PPI).

In view of this announcement by the banks to withdraw PPI you should consider Mortgage Payment Protection Insurance (MPPI). Protecting our home is a basic need during a recession especially one with so many uncertainties. If we are made redundant we still need money to pay our mortgage and bills for 13 weeks or three months under the new initiatives recently announced by the government before we qualify for their help and assistance.

Almost all of us harbour fears of being made redundant; we are concerned about how we would pay these bills and commitments and we fear repossession of our homes. Mortgage Payment Protection Insurance can help to protect our mortgage payments, personal life insurance and your building and contents insurance for up to 24 months if you cannot work due to unemployment or suffer a disability. We can have these policies set so that they pay out after thirty days back to day one. The Council of Mortgage Lenders is now encouraging all mortgage borrowers to consider the advantages of taking out independent mortgage payment protection insurance (MPPI). Your thoughts, experiences and comments are welcome.

Resource: http://www.isnare.com/?aid=344088&ca=Finances

Behind the Scenes By Sheila Challiner

There are three well-know credit reference agencies that everyone seems to know about. Any check up on you financial situation is likely to be carried out through Experian, Equifax of CallCredit. If you want to find out just what any lender will find out about you should you ask for credit, you can contact any one of these agencies and find out without any delay. As little as 2 pounds is all it’ll cost and your file will be revealed.

Not many people will have heard of “National Hunter” though. It may sound like the “dead cert” for the Grand National, but in fact it’s a fourth credit agency. Their input is similar to the others, and their approval is necessary if you’re going to succeed with that application, but it’s going to cost you five times as much to find out just what data they hold on you. Under the Data Protection Act, this is the maximum amount they’re allowed to charge, the full 10 pounds.

This little-known firm was established in 1993 by a group of banks and is currently co-owned by a mixture of around sixty building societies, banks and lenders. Officially based in Stoke-on-Trent in Staffordshire, in actual fact National Hunter is operated by Experian, for the owners, and is based in Nottingham.

The purpose of this agency is to prevent fraud and is a major weapon in the war against financial crime. They will investigate each loan request and warn the lender if there is anything suspicious about the application. If this results in an application being marked as suspicious, then the lender’s computer is likely to turn down an application for credit, without actually informing the applicant of the actual reason.

Whilst many of the rejections are undoubtedly in order, what is worrying is that it’s not known what the extent of the numbers of files that National Hunter holds on individuals is, or how many rejections are as a result of an error. What if there’s been an honest error with the application or some confusing facts given, that can’t be checked? Can these be automatically discounted? There’s computer error to worry about too.

Circumstances which could cause applications to appear as risky could include such things as changes of employer in a short time, the same mobile number being used by more than one applicant, mistakes or miss-spellings in names, or possibly mistakes in identification documents. A change in stated salary can look suspicious but be easily explained and income which is difficult to check on would flag up a warning

Any one of these eventualities could be quite innocently made and could be easily corrected.

National Hunter would inform the lender of a risky application – marking it as “suspect”. If the lender’s computer then refuses the application without giving a reason or saying which data base was used for checking, then many individuals wouldn’t even have heard of National Hunter, let alone followed up their credit details with them.

If you’re unexpectedly refused credit, do follow it up with the lender. Mistakes can happen and you have every right to know the reason for the refusal and to be given the chance to put it right.

A follow up to this article is called “Checking Out Your Credit”.

Resource: http://www.isnare.com/?aid=344198&ca=Finances

The Pitfalls of Insuring Against Subsidence By Michael Challiner

You may have heard this advice before, but it is so important…..read the small print and check that subsidence is not excluded. You may find, for example, that outbuildings like garages are not covered .

You will not be surprised to learn that premiums will increase following a claim. The chief structural claims manager, Neil Curling, from Halifax Home Insurance, warns that you must disclose material facts, such as signs that walls are cracking or bulging or a history of previous subsidence. Failure to make a full and honest declaration of the condition of a property may result in the policy being declared void.

Subsidence is a expensive condition to remedy, often running into tens of thousands of pounds, so insurers are very reluctant to pay out. Solicitors often have to be called in to stop insurers from reneging on their obligations.

There is no substitute to a full structural survey on a property. Although it may appear to be an expensive luxury, it could pay for itself many times over in the long run. Subsidence may not be recorded on a search as the solicitor acting for the seller may be economical with the truth.

It will be very difficult to obtain buildings cover if a survey reveals that subsidence has taken place.

Nationwide Home Insurance confirmed that they will continue to cover an existing customer if subsidence occurs. They will also provide cover if they receive a satisfactory application from the new owners of the property, which has been purchased from their customer. However they will not provide cover for properties that have suffered from subsidence in the past, which is standard practise throughout the industry.

The following case study illustrates the problems you may encounter when claiming on your buildings insurance.

Jackie Summerfield and partner Paddy Boyle live in the town of Hastings where they own a Victorian house. 10 years ago, when they were tenants, the landlord discovered that the property was suffering from subsidence. Paddy recalls that they actually attended talks when the loss adjuster, who represented the interests of the insurer, and a structural engineer were present. Evidently the loss adjuster felt that only a bay window should be underpinned whereas the structural engineer advised that the property needed far more extensive underpinning.

After the underpinning had been carried out and paid for by the insurer acting for the landlord, Jackie and Paddy bought the property.

The property showed no further signs of distress until two years ago when a horizontal crack appeared in the lounge. Paddy says that he contacted their insurer, Zurich, and the original structural engineer. Although the couple had to pay 1000 pounds excess, Zurich underpinned the house for a further 60,000 pounds. The work took 5 months to complete and they were very happy with the result.

The problems had been caused by their house being founded on a clay soil which had slowly dried out. The shrinkage of the clay had caused the property to settle. Paddy has been delighted with the service provided by Zurich, who were happy to renew his policy. However when he approached other insurers for an alternative quotation they refused to cover the property as it had been underpinned.

Resource: http://www.isnare.com/?aid=343320&ca=Finances

Business Insurance For Your Home Business

Every home business should look at getting an insurance policy that will provide them with adequate cover. Your home insurance policy will often cover you for some of the contents of your home business, including PCs, laptops and other small office equipment. However, it will not cover very expensive specialist equipment nor provide any public liability cover for visitors to your home business if any accidents should happen.

If you work from home, you should contact an insurance expert and discuss buying a home business insurance policy to cover the gaps in your existing home buildings and content policy. It is possible to get one policy that will cover your home, contents and business but in practice this is rare and often, the one size fits all, just does not work properly for all circumstances.

The kind of cover that is advisable for a home business owner will protect them if they are ill, unable to work, injured in an accident or the home office and stock room is damaged due to fire or other form of damage. The cover will also protect them if a business visitor to their home has an accident within the home boundaries.

As a quick summary, you should discuss with your insurance advisor:

1)Public Liability Insurance

2)Professional Indemnity insurance

3)Cover for your home business building

4)Cover for your home business contents

5)Cover for your business equipment when travelling

6)Cover for business interruption

7)Cover for your employees

8)Cover for assault and injury

Ask the following questions when buying a home business insurance policy:

1)How much cover do I get for theft?

2)How much cover do I get for vandalism?

3)How much excess do I have pay?

4)How many business clients and visitors am I allowed to have?

5)Will I benefit from a no claims discount in years to come?

6)How do I make a claim?

7)What are the key exclusions?

As a rule of thumb, it is advisable to get three quotes before committing to any one business insurance policy. However, it is no longer necessary to phone around as there are plenty of comparison websites on the internet that will give you comparable quotes from different business insurance providers within minutes. The comparison websites are forever scouring the marketplace looking for best deals so that you do not have to look at getting multiple quotes from multiple websites!

Home business insurance is essential if you run a home business. You will need home and contents insurance and another policy to insure business cover. Remember to read the small print very carefully. You need to know exactly what you are covered and what is excluded.

You also need to be aware of all limitations. Make sure you buy the home business insurance that is right for your particular circumstances even though it might not be the cheapest! Make sure you are covered for all the types of risks you encounter on a regular basis. After all, when something does go wrong, it is important that you are covered and you can bet your bottom dollar something will eventually go wrong.

Types Of Debt Solutions By Jay Ashley

Most Americans qualify for assistance with their entire debt burden. For instance, a homeowner having over 10 thousand dollars of “unsecured debt” in medical fees is an excellent candidate for an assortment of “debt solutions”, which can include debt consolidation.

In more serious cases, an individual owning 100 thousand dollars of debt due to gambling and without collateral so to obtain a loan may have to consider filling for bankruptcy as his debt solution.

Subsequently, you might need or require the help of a professional in order to direct you to the right course, constructing a budget plan for you in order that you will be able to monitor your expenditures as well as manage your cash more efficiently.

There is nothing to be embarrassed about in obtaining professional assistance to recognize workable debt solutions that are available to assist you.

Furthermore, there is no cost required in obtaining information. Most trustworthy debt management firms provide debt assessment or free consultation that you can benefit from. Inquire about the company’s debt solutions as well as what you might be qualified for.

While any debt solution is constructed to meet all your exact requirements, they fall usually into 1 of these 3 categories:

1.'Debt consolidation'.

This type of debt solution is used generally to combine all your existing loans into one new single loan that with much lower payments every month.

•Your debt is stretched over a much longer period than your current loans.

•Your debts’ interest rate that will be charged is typically less than your existing debts average rate.

Even as debt consolidation may not be the solution for many individuals, it is useful means during a time of low rates of interest or there already is adequate equity built-up in your property that you may need to arrange a remortgage or second mortgage.

2.“Debt management”.

This type of debt solution is for individuals who opt not to refinance all their current debts and the other choice is to make contact with their creditors in anticipation of reducing their monthly payments.

However, this solution is most successfully accomplished through hiring a professional debt or loan managers.Your debt manager will obtain your financial statement in order to find out and establish how much you can manage to pay monthly your creditors after you have paid your overheads and living costs.

This extra or remaining money is then divided on a “pro-rata” basis between your creditors and presented as a portion of an informal agreement between you and your creditors.

Since debt management agreements are informal, it is important to note that they can anytime be called off by any of your current creditors. While this can be a great risk, your reliable debt manager generally will bring seriously work on your case ensuring that arrangements made are more strictly observed.

3.'Bankruptcy'.

This is the most extreme type of debt solution available but should be carefully considered, especially if your situation is really bad.

In certain cases however, bankruptcy can be your best option. However take note that once you declare bankruptcy, you can be locked-up to it typically for several years. Bankruptcy long-term consequences include not being able to have credit access, open up a current bank account or be in specific kinds of businesses.

Bankruptcy must be your last resort so to solve all your financial difficulties. It must only be utilized after you have explored all other types of debt solutions.

Keep in mind that debt solutions take approximately three-five years until you are totally debt free. At this time, you are required to surrender all your credit cards with the exception of just one and control all extravagant expenses.

Debt solutions are types of financial reconstruction and will not adversely reflect on your credit. Creditors in fact view this as a constructive effort on the road to better “financial management”.

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Resource: http://www.isnare.com/?aid=75646&ca=Finances

California Reverse Mortgage: Ease Your Retirement Life By Antonio Redford

Life after retirement is never easy and especially, if you are facing a financial crunch. It is a very well known fact that after retirement the monthly flow of income stops and this can have adverse impact on the life of the senior citizen. It goes without saying that money plays a very important part in the life of an individual and no matter whether you are retired or working you need to have a constant flow of money to take care of all your needs. Reverse mortgage is something which can help out the senior citizens who are looking for a constant flow of money even after retirement. It becomes very difficult for an individual to lead a life of dignity and honor if there is lack of money and reverse mortgage can set this just right for you. California reverse mortgage is something that citizens residing in and around California can use for their benefit.

To be eligible to get money through reverse mortgage, the person must be the owner of a house. The California reverse mortgage loan is available to any senior citizen above the age of 62 years who owns a house on the equity of the house. The person who takes the reverse mortgage loan will not have to repay the loan amount till the time he decides to sell the house, move out of the house or the borrower passes away. One of the main advantages of a reverse mortgage loan is that this will never be passed on to the heirs if and when that person who takes the loan passes away. The loan amount will be automatically paid off as the person who provides the reverse mortgage loan will become the owner of the house after the house owner passes away. The loan amount will vary based on the equity of the home.

To be eligible for California reverse mortgage loan a person must fulfill certain eligibility criteria. First the person must be a senior citizen, which means that he must be more than 62 years of age. The other primary requirement to get a reverse mortgage loan is that the loan seeker must in possession of a home. Therefore, if you want to take a reverse mortgage loan from a broker, you must make sure that you know about the various things that are associated with taking the loan amount. Since you want to take a loan, it will be best for you to be informed about these aspects, so that you do not fall prey to any fraud loan brokers.

Life is full of both pleasant and unpleasant surprises and that is why we need to be prepared to deal with any eventualities at any time. Taking a California reverse mortgage loan is one way to deal with the financial aspect of any emergence that you may face in your life and especially if you are retired you need the money form this loan to take care of all your day to day needs. You can take the loan money either in lump sum amount or in monthly installments based on your needs.

Resource: http://www.isnare.com/?aid=191922&ca=Finances