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Secured Loan for Home Improvements
A secured loan is usually secured against the value of your home. So, one of the best ways to get together some cash for home improvements is to take out a secured loan against the home you are planning to improve.
By improving the home, you should be adding value to it – the lender will be reassured by this fact so there is usually little to stand in the way of being granted a home improvement loan.
May 31, 2008 at 12:55 pm | Secured Loan | No comment
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Bankruptcy is Not An Escape
Some people think that declaring themselves bankrupt is a great fall-back plan whilst they carelessly continue running up unmanageable levels of debt.
There’s nothing great about it, so don’t be fooled. You stand to lose EVERYTHING other than what you are wearing, and some of that too.
It’s far less traumatic to face up to your situation as early as possible and seek help from a personal loan adviser. They will often arrange a debt consolidation loan, which can be a real lifeline to help you overcome your seemingly impossible situation.
Don’t fool yourself – get help and sort it out before you risk losing everything you own.
May 29, 2008 at 3:56 pm | Debt Consolidation | No comment
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Bridging Loans’s Diary
I saw some really nice shoes I wanted to buy today. Only thing was, I couldn’t afford to buy them until I’d sold the ones I bought last week. I was confident Sandra would buy them, but I hadn’t actually made the sale.
Luckily, I managed to arrange a sort of bridging loan with Trisha – she was kind enough to lend me the money to buy the new shoes until I could sell the old shoes and pay her back. Fantastic, I thought.
May 28, 2008 at 4:34 pm | Bridging Finance | No comment
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Debt Consolidation Boy Band
A debt consolidation company is reportedly behind the creation of a new boy band, called “ConSolid8″.
ConSolid8 consists of 8 members, aged between 17 and 23, who have been hand-picked for the group in a ‘Pop Idol’ style auditioning process.
A spokesperson for the consolidation loan company, who is not prepared to be named at this stage, said: “The idea is to reach out to young people, who are becoming increasingly in need of debt help. We want to make them aware of the options out there, as it is no longer the case that most people are in their thirties before they get into financial problems and need to seek debt consolidation“.
The band is due to be unveiled some time later this year.
May 26, 2008 at 8:22 am | Debt Consolidation | No comment
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What’s a Bridging Loan, Then?
People often ask me, “Just what is a bridging loan, then?”
No, really they do. In fairness, it’s usually when I’m wearing my T-shirt that says on it “Ask me what a bridging loan is”, so you’ll see it’s not actually that unusual.
I always respond by saying:
“A bridging loan, often referred to as ‘bridging finance’, is simply a no-nonsense loan taken out to bridge the financial gap between the sale of an existing property and the purchase of new one.”
People go home more knowledgeable than they were that morning, and I go home feeling happy because my choice of T-shirt afforded me another chance to give a little bit back to the world. Everyone’s a winner.
May 24, 2008 at 10:39 am | Bridging Finance | No comment
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Debt Consolidation – Not Dept Consolidation
I was amused to come across a classic typo in the heading of an article today, which preached the benefits of ‘dept consolidation’.
The contents of the article made it clear that the subject matter was intended to read ‘debt consolidation’, but it got me thinking – there are probably businesses out there who are facing the choice of one or the other.
‘Dept consolidation’ would surely involve having to consolidate your department – ie your staff – into one smaller, affordable team to reduce your outgoings (sacking people!). Whereas ‘debt consolidation‘ could provide an alternative solution to a financial problem – arranging a consolidation loan to reduce the outgoings, allowing the wage bill to remain sustainable (not sacking people!)
Thus, the conclusion of my findings is that Debt Consolidation is better than Dept Consolidation.
May 23, 2008 at 11:32 am | Debt Consolidation | No comment
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Consolidation Escalation
A recent report, rather predictably, has concluded that an increasing number of people are turning to debt consolidation in an effort to control their spiraling debt problems.
More than 6.5 million people have taken a consolidation loan in the past three years alone.
Let’s hope this statistic reflects the growth in responsible attitudes to debt rather than a growth in the misconception that debt consolidation is just another way to spend other people’s money when the credit cards have dried up.
May 21, 2008 at 10:26 am | Debt Consolidation | No comment
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Carlsberg DO do Briding Loans!
When Carlsberg bought Scottish & Newcastle in a joint deal with Heineken, they did so using a bridging loan to finance the £7.8bn deal.
They have now announced a £3.2bn rights issue to repay the bridging loan.
May 19, 2008 at 5:09 pm | Bridging Finance | No comment
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4.9% From the Top and an Outrageous 8.5% Thereafter, Please Carol
I’m just going to admit it. I’ve always been a bit of a Carol Vorderman fan, even though that’s probably far from cool these days. But she does make it increasingly hard to defend her right to admiration while she continues to blaze a dusty trail of somewhat unscrupulous personal loan advertisements.
The latest advert in which she appears has been labeled a ‘debt trap’, encouraging vulnerable homeowners into unmanageable levels of debt.
The secured loan advert, for a company called ‘First Plus’, offers an attractive low interest rate of 4.9% for the initial 90 day period of the loan, after which the rate increases to a staggering 8.5%.
The lesson, as always, is to look out for such tricks and be fully aware of the complete terms of the loan before entering into any agreement.
May 18, 2008 at 2:11 pm | Secured Loan | 1 comment
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Personal Loan Sharks Target Facebook Geeks
Gullible teens, who’s skin tissue has now morphed with their chairs through Facebook addiction – leaving them with only ‘virtual’ friends, are being targeted by unscrupulous loan companies plaguing the antisocial networking site with dodgy personal loan ads.
Debt charity, Credit Action, claim that regular loan ads are targeting those with bad credit ratings through the geeky world of Facebook.
They urge these vulnerable individuals, who have lost the basic skills of real human interaction, to report any instances to the Facebook web site.
May 16, 2008 at 8:23 am | personal loan | No comment
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