Debt repayments, Loans, Make some money, Saving money, Uncategorized

How to get a loan without a Bank

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The internet has brought about many changes to our lives. Not least is the fact that you can now do your banking 24 hrs per day via the internet. At the same time you can also get a better savings rate or a loan. Traditionally to get a loan you went to the bank. Now adays it is possible to get a loan from people in your community, from people you dont know, and without the use of a bank.

The idea of social lending via the internet began with the establisnment of ZOPA. ZOPA is an accronym for Zone of Possible Agreement. The Zone is a a concept that in simple terms, refers to an agreed range of offers at various interest rates and amounts, equal an agreement to lend. Complicated, yes, but dont worry too much about it. Let me explain.



Miss Borrower wants to borrow £5000. She uses a social lender. The social lender credit checks and grades Miss Borrower. If ok, she is allowed to advertise that she wants to borrow. The website, does not lend her the money, we do. Individuals are able to offer lump sums at differeing interest rates. Once the £5000 is raised, (maybe in lots of £10), bidders can continue to offer lending bids. However, now the loan is fully subscribed, so in order to lend, lenders need to undercut other lenders to stay in the running. This has the effect of reducing the overall APR to the borrower. Once the auction reaches timeout, all those within the funding bands get to lend their money.

As of today there are a number of social lending websites. The largest and most established is Zopa. If you are looking to borrow money, and dont want to use a bank, look at a social lender. Click here to go through to Zopa.

Home Working, Make some money, Motivation, Saving money

Earn a Second Income

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I am a customer and also an independent distributor for Telecom Plus. The following advitorial is provided by Telecom Plus trading as the Utility Warehouse as approved advertising text available to all independent distributors. It is therefore the copyright of Telecom Plus and not of any individual distributor.

Telecom plus Business opportunities

General

• Over the last 10 years Telecom plus has grown from just an idea into a company with a turnover of over £278 million and whose shares are traded on the London Stock Exchange. A track record second to none. This phenomenal growth in turnover and profits has been achieved by word of mouth “referral marketing”. The question is: What share of this could you earn for yourself? The explosion in growth that Telecom plus is experiencing right now is just the beginning. It is said that the key to success is not necessarily being in the right place at the right time, but recognising that you are in the right place at the time, and not four years later with hindsight.

Telecom plus PLC is a British, publicly quoted company promoted to the FTSE 250 on the London Stock Market in December 2008. The corporate management team, headed by Chief Executive Charles Wigoder, has been responsible for the phenomenal growth of the company over the last 10 years. Charles’s previous successes prior to joining Telecom plus include the spectacularly successful growth of Peoples Phone which he launched in 1990 and which grew to 400,000 customers, which at the time represented 10% of the UK mobile phone market prior to its purchase by Vodafone. He is now applying those same skills to Telecom plus PLC, which operates the Utility Warehouse Discount Club, with breathtaking results. Telecom plus is extremely successful and its profits are growing spectacularly every year. It also boasts an exceptionally strong balance sheet with over £25m of cash and no debt, providing confidence that this business really is here to stay.

• How many people do you know who use the phone, switch on a light, turn on the oven or use the internet? The Utility Warehouse are not asking people to spend extra money on services they do not normally use, they are simply offering the same services but with one major difference – they offer far better value! You will be tapping into a market where people and businesses are already spending many billions of £’s a year.

• Every time your customers make a phone call, switch on a light, turn on the heating or surf the net, you could be getting paid.

• Anyone who wants to earn some money and has drive and enthusiasm can become successful with Telecom plus.

• The residual income you build will continue to be paid as long as your customers continue to use these services, and that could be long after you have stopped building your Telecom plus business!

• Telecom plus provide a unique support and training programme, which includes a comprehensive package of manuals and marketing materials, provides everything you need to start building your own successful Telecom plus business. Initial training for all new Executives is provided free of charge at over 20 training centres throughout the country.

The more successful and prosperous you become, the greater the Utility Warehouse’s success, so they do everything they can to help you succeed!

• In addition to earning a residual income, generating discounts on your utility bills or raising funds for a good cause, Telecom plus Distributors can also benefit from an exciting range of incentives and bonuses. These include owning your own Utility Warehouse branded BMW Mini; driving one of the company’s fleet of Porsche Boxsters; qualifying for luxury, all expenses paid holidays; earning vouchers to spend in Marks & Spencer or John Lewis and also significant cash bonuses for achieving certain customer and Distributor gathering targets.

• Thousands of Distributors have already joined Telecom plus, and many of them are either earning a significant monthly income which is making a huge difference to their lives, raising funds for community projects close to their hearts, or generating significant discounts on their utility bills. But with less than 1% of UK households currently using their services, you needn’t worry about being too late to join.

• Telecom plus operates a Share Option scheme to act as an incentive for its Distributors. Share Options are a ‘risk-free’ way for you to share in the future growth and financial success of the company. The Options issued so far have been worth a staggering £6 million, creating huge gains for many Distributors, and the intention is for the company to make further allocations in the future.

• This is your chance to obtain a ‘FREE’ allocation of Share Options in a fast moving PLC on the London Stock Exchange. Did you know that as a result of Share Options issued by Microsoft, they have over 10,000 millionaires working for them? The more customers that we attract and the bigger our business becomes, the more your Share Options will be worth. They could eventually be worth hundreds of thousands of pounds. So don’t miss out – get involved and make sure you qualify simply by sharing the benefits of Telecom plus with other people.

1) Earn an income which could change your life…click through for further information to here.

Build your credit rating, Credit Cards, Debt repayments, Loans

Loan Consolidation and Debt Management Companies.

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I don’t watch daytime television often, but when I do there is something that really annoys me. Its the adverts for loan consolidation. They often go along the lines of consolidate your loans and agree one simple repayment. The problem is that often people dont see beyond the low payment, they just see that they are paying less each month.
So whats the catch if your paying less each month. Well the answer is simple, the reason you are paying less is because the loan is over a longer time period. Often the rate of interest is no better, its often worse. So the end result is that you pay more over the longer term.

What makes this even more appalling is that the adverts are shown during the day targeting the poorest in society, the unemployed.

The other thing to be aware of are the number of companies that offer Debt management. Your in arrears and a debt collection company is writing letters to you. So when you see an offer for debt management, during that period when you are vulnerable and stressed, the attraction of debt management, where someone looks after your debts and deals with your creditors is incredible.

Well before you take up this offer, bear in mind they are out to make a profit from you. If you go for the debt management option, you will often have to pay an upfront fee, often a few hundred pounds. The company then deals with your creditors and negotiate a monthly payment plan. You then pay a fixed fee to the debt managment company who then process your payment to the lender. Sounds great in principle, but the debt management companies charge monthly fees. So for example, you could arrange to pay the debt company £50 per month. A nice, easy manageable figure, but the debt company may charge a flat fee of around £25 every month. So actually your creditor gets only £25.

There are ways around this. There are some organisations such as Payplan that will manage your loan for free. They do this because they are funded by the credit industry. They will assign a caseworker who will speak to your creditors and arrange a plan, then you pay Payplan and each month they pay the company. The cost to you is zero. You just pay off the loan.

Lastly, I should mention debt collection agencies. These are companies appointed by your creditor to collect the debt. The interesting thing here is that by the time a debt goes to debt collection, the interest is normally frozen. So at this point, the debt collection company is looking to clear the debt as quickly as possible. They may offer a quick settlement figure, but for most, quick settlement is not an option, so they will offer an instalment plan. Again, every penny goes towards clearing the debt as you are not paying fees. This can work to your advantage, as you are effectivly paying off debt at 0% interest.

However its not all a bed of roses. You should aim to repay the debt as quickly as possible in order to restore your credit rating. Don’t think you can go on paying £5 a month on a £10K loan as your account will be reveiwed every year and if your circumstances have improved, they will expect higher repayments. Whilst paying off more of a debt is not a bad thing, you need to ensure the repayments are possible. If you can’t the worse thing you can do is say yes to a higher instalment figure as you are not going to be able to sustain the higher repayments and will then start falling behind leaving yourself open to possible legal option.

Finally, whatever your debt circumstances, there is always a way out. However you must be proactive and keep to any repayment plan. Seek informal advice via the forum that can be found here or consult a qualified debt advisor. Whatever you do, don’t ignore letters, take positive action and I dont mean throwing them in a bin. Take on your debts and control them, not let them control you.

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