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Questions to Ask Yourself Before Purchasing Loan Insurance

01 May, 2016 / Comments:Comments Off on Questions to Ask Yourself Before Purchasing Loan Insurance / By Jennifer Hamilton

Loan protection insurance is created to aid policyholders through financial support if they are ever unable to support themselves. The need for a payout must be substantial such as because of unemployment or disability. This type of insurance can come in handy to continue your monthly loan payments and protect you from defaulting on your loans if you are unable to make payments yourself. Before you continue with the purchasing of this type of insurance, you must ask yourself a few things to ensure

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Strategies for Dealing with Multiple Payday loans

22 Mar, 2016 / Comments:Comments Off on Strategies for Dealing with Multiple Payday loans / By Jennifer Hamilton

Payday loans do serve a help to those who are in a difficult situation. When money is needed desperately and no other viable sources are available, a payday loan can aid in overcoming a hurdle. Borrowing, unfortunately, becomes a habit and can get out of hand. Once a borrower has several high-interest payday loan balances owed, the debt can be massive and problematic. Anyone who is in such a situation does need to follow logical advice on how to pay off the various balances. Cease the Borrowing Cycle Stop

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How Making Extra Payments Affect Loan Amortization

19 Mar, 2016 / Comments:Comments Off on How Making Extra Payments Affect Loan Amortization / By Jennifer Hamilton

An amortized loan is a loan that you make scheduled periodic payments of both interest and principal. This is unlike those loans that you only make interest payments, balloon payments or negatively amortized payments for. Borrowers who decide to amortize loans are more likely to avoid payment shock than those who decide to take out a loan that isn’t fully amortized. Keep in mind that loans that are not amortized must become amortized at some point over the remaining length of the repayment term

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Can Someone Unemployed Get A Personal Loan?

03 Feb, 2016 / Comments:Comments Off on Can Someone Unemployed Get A Personal Loan? / By Jennifer Hamilton

Being unemployed inevitably throws your finances into chaos. You have no money coming into the home, assuming you are single, and the bills start to pile up. In the short-term, you need to find a source of money to pay off your expenses, or loans you’ve already taken out. And if you have bad credit your bank will turn you down for a loan. There’s an alternative, though. Even if you aren’t in work, you can still get a bad credit personal loan. It does differ for people in this position, though.

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Risks Associated with Taking Out a Loan on a 401k

22 Jan, 2016 / Comments:Comments Off on Risks Associated with Taking Out a Loan on a 401k / By Jennifer Hamilton

The majority of 401k plans allow people to withdraw a loan from the account, and so many people do take advantage of this. In fact, an average of 13,000 people take a loan out from their 401k every month, for a median of $4,600. Yet, about 10% of these people end up defaulting on their 401k loans, which is usually caused by a job loss or change that they did not anticipate. On top of this, there are some risks involved. Here are some of the top risks to look out for when considering taking out a

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