Category: financial crisis

Check into Cash – Cash Advance: Payday Loans, Payday Loan, No Fax

Posted on January 7, 2019 by

Nowadays payday loans are a common source for individuals in need of a short term loan. However, in 1993 a company called “Check into Cash” was created, starting the clever invention of payday loans. The very first Check into Cash opened up in Cleveland. The company’s corporate headquarters is located in two buildings equaling out to a total of 70,000 square feet. The buildings are stationed in Village Green Town Center. The company has now spread throughout the U.S., as it’s become the number one payday advance service.

Check into Cash – How Does a Payday Loan Work?

As for any payday loan company, the rules are often the same. However, the way that Check into Cash works is the consumer issues a post dated check payable to Check into Cash in which comes from their existing bank account, then Check into Cash proceeds to give the consumer the fast cash right on the spot. The company makes their income by charging a flat rate. Then the consumer avoids being late on bills or is able to get out of their current financial bind by getting an early pay check.

Get a Payday Loan Online

There are many payday loan companies which offer the same type of loans for people in financial stress, however, Check into Cash has earned its reputation by establishing a long history of successfully serving its consumers.

Get a Cash Advance From Check into Cash

The company offers online payday loans, over the phone loans, as well as walk in cash advances. The convenience is great for anyone in a hurry to get fast cash. There are many various locations to choose from and if consumers have Internet access, the process can be taken care of online.

Payday Loan Qualifications

The great thing about payday loan companies is that they do not require their consumers to have good credit and the process is simple. Often all that is needed is proof of an existing bank account, proof of being 18 years of age or older and proof of a monthly income.

Payday Loans and Cash Advances Online

For someone who is caught in a financial bind, Check into Cash is a great place to turn to. The process is easy and the loan offers instant cash. Simply apply for a loan online or walk into one of their locations.

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How to Pay off and Get Out of College HECS Debt: Eliminate Higher Education Contribution Scheme Loans

Students may have a hard time paying their Higher Education Contribution Scheme bill until they exit school and get a job. The debt is accrued during the college years to help pay for tuition and other fees and expenses related to going to school. Thankfully, the funds are not required to be paid back until the student has left school.

Typical Payback

The student can pay HECS at one time before the requirement period begins and receive a 20 percent discount on the bill. This is not helpful until the student has successfully landed a job. The Government will allow the student to defer payments on the loan amount until after this has happened. The loan is converted to an interest-free HELP loan. Once the student begins to make over a certain monetary bracket per year they are required to begin paying the loan back. The HELP debt is repaid through the withholding of taxes and are automatic. At this time the loan begins to accrue with interest. The interest rate is higher with an increased income amount.

Early Payback

Anyone who pays the HECS bill back earlier than required will receive discounts. For anyone who wants to avoid paying these extra interest feeds, there is a way to minimize the amount of debt accumulated.

The simplest way to keep from having to pay these fees and interest is through saving money and pay the debt in lump sum payments. This will earn an additional 10 percent discount taken from the HECS debt.

Saving a little bit of cash from every payday will help accumulate a lot of money over the period of one year. When $1,000 has been saved place this money in the student account to go towards paying the debt. This scenario will reduce your balance by $1,100 at once.

Repeating this process every 2 months will effectively reduce the amount owed by over $6,000 before the student ever leaves school. Because interest rates do not begin to accumulate on the amount owed until after the student leaves school, this $6,000 will never have been charged for interest.

Conclusion

Paying back funds early appears to be simple, if not easy. This is effective in eliminating the debt by reducing the amount owed before interest begins to be compounded on top of the principal. A reduction in principal will always reduce the amount owed. Once the required period starts, the amount owed is removed from the payroll check automatically. This is another good reason to pay off the HECS student loan debts early. Get out debt as quickly as possible for a richer and more meaningful life.

What’s Wrong with Housing? Value Equation, Over Supply, and Consumer Confidence

Posted on January 7, 2019 by

Mortgage write-downs continue to plague the financial markets today with no end in sight. As the mortgage market continues to roil in turmoil, more and more experts have suggested that the housing depression will go deeper and last longer than previously expected. Low interest rates do not seem to be enough to spark a housing revitalization.

The Housing Market

The housing market began its downward spiral over a year ago. Cracking fundamentals finally gave way about six month ago, leading to the decline the United States and Europe find themselves in today.

Housing is experiencing two fundamental problems. The value equation represents the first problem. Purchasing a home requires a larger portion of income than ever before. While a home might have accounted for 50% of a new homeowner’s income 10 years ago, that number now is more like 70-75%. This significantly increases the probability of default. Homeowners simply cannot save enough for a rainy day. On top of that economic clouds are swirling and some homeowners are already in the eye of the storm.

Market perception and consumer confidence make up the second issue. Consumers have made up their minds that housing is finally too expensive and that recession fears are real. This expectation of a price decline keeps buyers out of the market. Supply and demand takes over after that and all of sudden housing stocks rise to record highs and prices begin dropping at a record pace.

Mortgage terms represent the third dark horse stalking the market. With an increase in consumer defaults and a faltering economy, mortgage lenders and banks have to be more judicious about where they deploy their capital. This means tighter lending restrictions, higher downpayment requirements, and a generally tougher loan market despite a record low Federal Funds Rate.

Turning around the Residential Market

Eventually two of the three issues plaguing the housing market have to change. Unfortunately these issues will not change overnight. Honestly, these issues take months and perhaps years to correct themselves. With supply and prices at record levels, buyers could be sitting on the sidelines for well over a year before even considering re-entry into most markets. Now that consumers have been sold on the fact that the United States is in a recession, it will be a very hard sell to get them out of their bunker mentality. As negative data continues to pour in over the near future, they will only develop more resolve to save and hold off major purchases. Without substantial change in these two problems, expect the mortgage market to hold firm on their lending standards and the housing market to remain in a rut.