After completing bankruptcy proceedings, your financial situation will be very different. Although you will no longer have the threat of debt, foreclosure, and so on, some things will become harder to do. It is possible that sometime, you will want to get another loan. Since bankruptcy stays on your credit report for seven to ten years, this may be hard to do. As a result, it is important to know your financial options after completing bankruptcy proceedings. Continue reading
Loans
Title X: Private Student Loan Transparency and Improvement Act of 2008
The Higher Education Opportunity Act was enacted on Aug. 14, 2008. It is a reauthorization of the original Higher Education Act (HEA) of 1965, back when Lyndon Johnson was President. The Act was created to help students pay for college by creating scholarships, increasing federal money given to universities, and giving out low-interest loans. The original Act also installed the Pell Grant, an award that does not require repayment. The subsequent reauthorizations of the HEA have amended additional programs, policies, and financial information. Continue reading
Consumer Finance Companies Explained!
If your credit is less than amazing, but that new car is just so shiny, what do you do? Well, if you really have to own it, what options do you have? You can always appeal to the almighty consumer finance companies in the United States. In a good ten to twenty years, you too can be the proud owner of that shiny new car. Continue reading
Warning signs to avoid personal loans
A personal loan usually occurs between an individual and a bank, though people are increasingly seeking out person-to-person loans. Both parties agree to a set amount of money which the lender will give to the other party, as well as an interest and payment rate, which regulates how much and how often the money must then be repaid. Most people, of many different income ranges, take out secured loans for cars or homes.1 Continue reading
What is the Truth in Lending Act?
Congress passed the Truth in Lending Act in 1968 in an attempt to help consumers by requiring lenders in credit transactions to disclose important terms. In the past, the government’s philosophy was that it was up to the buyer to be sure what he or she was getting into, but this act marks the first shift into the government requiring more disclosure in order to protect the consumer. Continue reading
What is the Free Application for Federal Student Aid?
The FAFSA, or Free Application for Federal Student Aid, is the easiest and best way to receive financial aid from the US government to help pay for college education. It mainly serves to assist those families who cannot pay the skyrocketing costs of attending many of the nation’s most prestigious universities. There are two steps to filling out the FAFSA before there can be a follow up to the application process. Continue reading
Positives and Negatives to Consolidating School Loans
Student loans can be one of the most difficult types of loans to pay off because of their strict rules. Often, having many different sources of student loans and payments causes headaches for borrowers. If your student loans have become too unwieldy, there are ways to consolidate them, so you should see if it is right for you. Continue reading
Small Business Loans Mean Changing Business Plans Completely
Before we get to the ends and outs of loans, let’s assume that you are an entrepreneur looking to set forth the Next Big Thing Inc. You’ve got big dreams, big dedication, and possibly big talk… but you know in your heart-of-hearts that you’ll succeed. Continue reading
Good Deal… Great Deal? Leasing Vs. Buying a Car
Car commercials scream at us about leasing or buying their latest model, quoting the option with the lowest payment. But it makes you wonder— if you could purchase a vehicle, why would you not choose to own it? Or, why would you pay full price if there was a less expensive way to drive? Continue reading
The Big Expense: College Financing Tips
A college education is one of the wisest investments a person can make— think of how much more earning-power comes with that seemingly magical piece of paper. Not to mention the personal growth that develops alongside it. Continue reading
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