Anyone who owns a car will know that it is illegal to take it out on the road without insurance. Logically, therefore, it would make sense if every homeowner were legally obliged to purchase home insurance. However, this is not the case. Homeowners are simply advised to take a policy but it is not a legal requirement. You may also not realise that your home and contents insurance documents are actually a legally binding agreement between yourself and the home insurance company. There are therefore many legal implications associated with home and contents insurance. Just a few of them are listed below.1) Your mortgage and home and contents insurance – If, like the majority of home buyers, you have had to take a mortgage out in order to pay for your home then it is likely that your lender will stipulate that you have to take home and contents insurance or else forfeit the mortgage. They can legally do this because they are technically protecting their investment. Your home insurance company may even be linked to your mortgage lender.2) Fraud – If you defraud your home insurance company by falsely claiming on your home and contents insurance then you are liable to be prosecuted. False claims cost home insurance companies millions of dollars every year and thus they are beginning to crack down on any false claims and are likely to push for legal action to be taken against you.3) Applications for home and contents insurance – The one thing you must always remember from the start is to answer all questions that your home insurance company asks you completely honestly. Many homeowners have lied on their applications in the past and have later had their insurance revoked as a result. Again, this is a form of fraud, but has more serious implications for you than simply jail time. If your house is burgled, for example, and the home insurance company comes out to inspect the damage then they will discover that you don’t have the deadbolts on the doors that you claimed to have. You will forfeit any pay out and may just face prosecutions, thus causing you to lose your property and possessions as well as your freedom. That may sound a bit extreme, but you can see the trouble that one lie can get you into with home and contents insurance. So telling the truth may raise your premiums slightly, but they may work out far better in the long run.Of course, this list is not an exhaustive list of the laws and regulations associated with home and contents insurance. Your home insurance company will be able to fully inform you of the all the laws that actually apply to you. However, they are the basic laws you should know before applying for home and contents insurance. The law may only actually come into question for you if you lie. If you remain honest then you will get along just fine.
Payday loan stores are among the fastest growing financial services in the world. They were not in the scene ten years ago but today they are available everywhere.Apply For An Instant Loan OnlineYou do not need any credit card to apply for an instant payday loan. What you need is just a job and your checking account. You just need to write a personal check to the store for the loan amount. In turn, the store gives you loan ranging from 15 to 30 percent. But nowadays people hardly have time to visit payday loan stores.Everything has gone online which helps an individual to get all their loans approved without going to the payday loan store. You can apply for no credit check payday loan from the comfort of a chair. Actually this type of credit is for those people who have bad credit or no credit at all. With this type of loan, you can repair your car, or it can also be used in case of emergencies. Actually this type of loan is taken mainly to avoid the annoying fees of overdraft. Here you just need to fill up a form where you have to fill your personal details. So, there is no more waiting for you and you get instant loan online. Does not this sound interesting to your ears?Get $1000 In Twenty Four HoursThe loans are approved in no time and it takes hardly a few minutes. But you must be aware that there are certain websites which might land you into trouble. So, it is always better to visit a secure server so that you remain on the safer side.Now there is another concept called ten dollar payday loan. In order to qualify for such a loan, one needs to be the citizen of that country and should be more than 18 years of age. There are different norms and standards depending on the organizations. There are some which requires an individual having an experience of at least 3 consecutive months and again there are some norms in terms of salary as well. As already said people have no time to visit loan stores, so everything can be done online. So, you need not worry and you can take payday loan without any wait.Go online for payday loansPeople now hardly go out to the payday loan stores, as everything they need is now available online. You can use your payday loan for any purpose you choose. With the help of the Internet, it is very easy to get fast easy payday loan without having to wait in the queue. If you think that this is a very lengthy process, then you are wrong. They are approved in no time and it is very simple to tackle with the online loan application which takes just a few minutes. You no longer have to go through the hassles for applying for a loan. So, you need not wait any further and just be careful to visit a secure server to get your loan approved online.You also find no credit check payday loan for those who have bad credit or no credit at all. With this type of loan, you can repair your car, or it can also be used in emergencies. It is taken to avoid the annoying fees of overdraft. This too can be availed online. You just need to fill out an online application where you need to fill out your personal information. There are some organizations which needs a person to be employed for at least six months in order to apply for this type of payday loans. But there are different terms and conditions for different organizations.The funds are directly transferred to your account. So, you need not worry to apply for this type of payday loan through the Internet. You can get payday loan calculator on the Internet as well. So, there are so many options to choose from. Calculate the rates of different loans with the help of payday loan calculator and become tense free from your payday loan.
1. Payday loans trap consumers in “cycle of debt”
Although the phrase “cycle of debt” is a favourite among industry critics, it is not based on the truth. Researchers and American state regulators consistently report that 70-80% of customers use payday cash advances between once a year and once a month.It is important to understand that a payday advance is not meant to be a long term loan. What a payday loan has done is assist millions of families with emergency needs. This means that a payday advance is given only under the agreement that it will be paid off on the applicant’s next payday (hence the term, payday advance). Short-term loan providers also operate a rollover service to help keep the payday advance applicant from being stuck in a long term, high interest rate loan.2. All operate as loan sharks
A payday loan provided by a reputable payday loan or cash advance company does not take advantage of people. It is meant to be used only for a short term emergency situation by employed persons who need a little bit of help between paydays for emergencies. This is a very common occurrence when most families live pay check to pay check and may not be financially prepared for emergency repairs, travel or medical expenses. In reality, quick payday loans fill a necessary component in the economic world.3. Rude employees
Payday loan companies do not compete on the price of their loan, therefore it is important for them to compete on other aspects of the service to create a competitive advantage. One of these ways is through customer service and to ensure all employees are financially knowledgeable and are fully qualified for the job to certify their customers are given an excellent customer service. This is further enhanced through the recording and monitoring of telephone calls in and out of the company.4. Target vulnerable people, the poor etc
Payday advances are marketed toward subprime clients without a distinction in employment or culture. In fact, payday loans are marketed toward those people earning between £10 000 and £25 000 per year. Most payday advance members are under 45 years old and all applicants are currently employed with a steady income and have an active checking account. In reality, payday advances are meant for working adults with an immediate emergency need that cannot be satisfied through bank and union loans.5. Hide fees and have high interest rates
The payday cash loan facility is required by law to disclose any application fees, interest rates and other fees. In accordance with OFT guidelines, it is a legal requirement that all fees and rates must be clearly outlined and disclosed to the customer.A payday loan does have high interest rates. This is not because the lender is trying to take advantage of emergencies, but because they are a short term lender. The payday loans are meant to be short term loans, not long term loans that are constantly refinanced with monthly statements. This means that the payday loan company assumes greater risk at the same profit level as other financial institutions.6. Threaten customers with coercive collection practices
Short-term loan providers are committed to collecting past due accounts in a professional, fair and lawful manner involving no criminal actions. In accordance with BBCA’s guidelines, companies in the UK may not pursue criminal actions against a customer as a result of the customer not repaying their loan. If absolutely necessary and after all other approaches have been tried, the lender may turn the issue over to a collection agency.7. Operate outside the OFT guidelines
All short-term loan lenders should follow OFT guidelines and are dedicated to practicing all practices and collections in the best way possible. The company strives to educate the consumer and to make sure that our borrowers clearly understand the payday loan process. This is in accordance within the customer selection criteria in a Responsible Lending policy.8. Unethical
Many posts have been written on consumer forums about how payday loan lenders are unethical and immoral for taking money from people who need it the most. This is not the objective of payday advances; these short-term loans are meant to tie over consumers until payday and be paid back on time. One loan provider operate a ‘Responsible Lending’ policy, listed in this policy are guidelines stating that the company’s charges are transparent and only lend to customers who can pay the loan back. The company also offers a payment plan option if customers are unable to pay back the loan on time; this allows them to pay back a small amount per week which the customer can afford.Short-term loan lenders who offer payday advances have also been seen to partner with a charity to match customer donations made through the website. For example, one lender has partnered with Starlight Children’s Foundation to match the 50p donation, customers can choose to make on their interest payment.9. Adds unauthorised charges to accounts
Payday loan providers only charge customers what they owe, and do not want to charge customers more for their loan. All companies ethical practices and responsible lending policy ensures customers only pay back the interest payments and charges which are relevant to their account.10. Employees are trained to set hooks
Employees from payday loan providers are trained purely for business purposes, and to help customers as much as they can. Employees from short-term loan providers pride themselves on excellent customer service and helping customers out. To employees from this short-term loan lender happy customers mean increase commission.
The majority of us are unaware of the multitude of ways an entrepreneur can make money with payday loans. Often we are so focused on our own passion, skill and knowledge base that we fail to comprehend other methods of monetizing our expertise and understanding of this dynamic industry. This brief discussion will cover a few of the ways we can develop multiple revenue streams all utilizing the payday loan product. If you and your team are uncomfortable or unwilling to fund payday loans be advised there are a multitude of ways to make a “ton of money” in the payday advance industry. (Note, this list is in no particular order.)* Funding Payday Loans. Of course this is the obvious method most of us employ to maximize our returns. We form a corporation, get a license where appropriate, we open our store, utilize advertising and signage to draw customers and fund the payday loans ourselves. This “brick-n-mortar” model still works very well. And fortunes are still being made with this approach.* Utilizing the Internet. Consumers in the USA, Canada, Australia, New Zealand, the Caribbean, England, Ireland, and more demand access to our payday loan product. However, not all consumers have the ability to simply walk into their neighborhood cash advance store and receive one. We are all aware of states having unfavorable payday loan legislation. Millions of payday advance consumers are forced to use call centers and web sites of companies outside the protection their state may offer or the “best-practices” promoted by http://www.CFSA.net and http://www.FISCA.org . And, let us not forget the value in combining a “brick-n-mortar” payday loan operation with web sites. The “big guys” in our industry have figured this out and purchased existing payday loan Internet companies. We perceive the major value in their taking this approach was the fact these payday loan Internet companies had pursued and secured multiple state licenses. In any event, it only makes sense to use a web site in conjunction with your “brick-n-mortar(s). Fund the loan applications submitted via your web site by residents of your state/province and simply sell those from locales you prefer not to do business in. (See Affiliates)* Payday Loan Leads. There are millions of dollars being made collecting and brokering payday loan leads and applications. (See Affiliates)* Consulting. There is a tremendous demand by entrepreneurs to get involved in the payday loan industry. Their thirst for knowledge regarding software, licensing and legislation, store location, web site development, ACH processing, stored-value and prepaid card deployment, compliance, and on and on has no end.* Affiliates. There has never been more money being made in the payday advance industry by entrepreneurial companies and individuals that never fund a single cash advance! Ten’s of thousands of dollars are made monthly by simple creating a web site to gather payday loan leads and applications and selling them to payday loan companies willing to actually fund the loans. Today, these leads and applications sell from $3.00 ea to as much as $55 each depending on volume, filtering, quality, source, and any due-diligence performed prior to the sale. Just one example is that of a payday loan lead generation entity selling 50,000 payday advance applications per month at an average of $9.00 each. And the buyer claims to be funding 40% of these leads! We estimate less than 10% of the payday loan web sites on the Internet today actually fund payday advances! It is extremely easy for an entrepreneur to simply build a web site(s), become an affiliate at http://www.cj.com to immediately begin selling payday loan leads to advertisers. Additionally, one can set up a Google AdSense account and earn approximately 30% to 50% of the income Google receives for each click (currently $7.02 per click for position #1). Last month 294,000 searches were performed at Google for the term “payday loan.” Of course, this count does not include all the other permutations for “payday loan” such as “payday advance”, “cash advance” “payday loan cash advance”, “no teletrack payday loan”, and many, many more. Nor does this include searches performed at other search engines such as Yahoo, AOL, Earthlink, MSN, etc. Our research yielded more than 1,000,000 searches last month for the term “payday loan”!* Vendors. There is no limit to the various products and services one can offer to payday loan operators and consumers of cash advances. Creativity is the key to developing continuing revenue in our industry. Payday loan operators need creative solutions for meeting compliance issues, creating complementary products, advertising and marketing, collections, solidifying relationships with payday loan consumers, customer identification, customer employment validation, bank account and ACH verifications, security, insurance, store layout, web site and software integration including http://www.Teletrack.com and http://www.CheckDataSystems.com.* Investors. Astute individuals and organizations with a desire to put money to work at favorable interest rates do exist. We receive inquiries from them daily. Those deals involving no equity typically earn returns of 2% to 5% interest paid monthly. The key for both the payday loan operator in need of funds to meet demand and potential investors is to research and understand the payday loan product thoroughly, develop specific criteria for the investment or use of the funds, and a complete assessment of the ability of both parties to work together. Finally, all agreements must be put in writing.* Education. Opportunities for helping payday loan operators to increase revenues and meet compliance and legislative issues abound. Again, topics covering marketing, advertising, collections, compliance, accounting, insurance, fraud, investing, debt servicing, complementary products and services, customer relations, legislation ( http://www.PaydayLoanLegislation.com ) are just a few of the subjects payday advance operators are in need of.* Franchising. Entrepreneurs are clamoring for information regarding how to get started in the payday advance industry. Independents desire a strong brand and well-organized operations offering terrific and timely support. Turnkey payday advance models will yield the greatest monetary success.* Trade Organizations & Magazines. It is shocking to realize how many existing and prospective payday advance operators, vendors and suppliers are unaware we have trade organizations and magazines. Visit and support http://www.Fisca.org and http://www.CFSA.net. And, do not forget our trade magazine, Cheklist(sic) Magazine at 212-807-0148. Cheklist Magazine maintains a list of state payday loan and check cashing associations.The bottom line is this: entrepreneurs, training organizations, vendors, suppliers, educators, consultants, and more all have an opportunity to earn substantial income and recurring revenue streams by participating in the payday loan industry. Success will come with proper research, a good plan put into action, follow up and adjustments in combination with integrity and honesty.
There are a variety of credit card types, each claiming to offer you the best possible deal. Finding the programs and incentives that works best for you is key to maintaining a good credit card history.Each type of credit card offer different benefits. Some are geared toward the individual consumer, while others are set up to work for small businesses. To find the type of card that best fits your needs, let’s review some of the options.Business CardsA business credit card offers the business owner an opportunity to keep business and personal expenses separate. The card may offer special business rewards and saving opportunities that go above and beyond what the individual card owner has. Since money management is essential for running a business successfully, this card may offer an expense management service that helps track outgoing money. You can obtain additional cards for employees who may need them for travel expenses and such. You may also have a higher credit limit than you normally would on an individual card.Student CardsMany credit card companies will issue student cards with lower credit limits and fewer incentives, helping new card users to keep their spending in check. However, note that many college students now graduate with credit balances averaging from $3,000 to $7,000. With high interest rates, these debts can be a real problem to pay off.Debit CardsPrepaid debit cards are 1 type of credit card that has grown significantly in recent years. Although it works like a traditional credit card when making a purchase, that is where the similarity ends. With a prepaid debit card, you actually set the credit limit yourself by depositing money into the debit card’s account. The amount you deposit determines the credit limit on that card. This is a great way to have the convenience of a credit card without the possibility of charging more than you can afford to pay off.Cards for Bad CreditEven with bad credit, it is possible to obtain a credit card. These cards come with some restrictions not typically found on other types of cards. Your credit limit will be lower and your interest rate higher. Some may require you to have a secured card, meaning you have to maintain a savings or some other type of account that will cover the expenses on the credit card. Once you have established that you will be responsible in your credit handling, some, if not all, of your restrictions may be lifted.Cash Back CardsMany cards will now offer you cash-back incentives for using their cards. Depending on how much your balance is, and how often you use the card, you can earn cash back for your purchases. Some companies offer 1% off your balance while others, like Sears, will offer you cash off purchases made in their store. Either way, if you are planning on using a card, finding one that will offer you a cash incentive is a smart choice.Low-Interest CardsOne of the more recent additions to the credit card world is the low-interest credit card. These cards offer a significantly lower interest rate than most of the older cards you may already have. As balance-transfer cards, most of them offer you the option of transferring a balance from a higher interest rate card and, for a specified period of time, your transferred balance will be at either 0% interest or something quite low. This can save you a fair amount of money if your plan is to pay it off.Reward and Incentive CardsSince credit cards have become such a lucrative business, many corporations have jumped on the bandwagon. Even airlines now offer credit cards that come with a certain amount of frequent flyer miles attached, depending on your balance and purchases. If you do a fair amount of traveling, this can be a real bonus. Along these same lines, reward credit cards are growing in popularity. Competition is stiff, and many card companies are now offering different reward or incentive options for using their cards. Once you accumulate enough points, the rewards pour in. These can be anything from travel insurance to small appliances. If you use a card regularly, finding one with a reward program can really pay off.Instant Approval CardsAnother form of credit card is the instant approval card. Once you fill out the application, a quick background check will be done and you will have your approval almost immediately. Regular cards can take up to 2 weeks to process. Although you can get instant approval, this does not always mean you can get instant credit. Some companies will supply you with a temporary credit card number and allow you to begin making purchases immediately, while others will not, due to an increase in credit card fraud potential.Protect Your CreditSince there are so many options in choosing a credit card, you should do a little research before you apply. Decide what type of card best fits your needs and apply for that one. Don’t go overboard, though. Applying for too many cards will negatively affect your credit rating.And, above all, once you get your new credit card, use it responsibly.