Fraud on Finance

Tips on Finding a Bankruptcy Lawyer

Initially, it is quite hard to declare yourself bankrupt, and filing a bankruptcy is a much more complicated thing to do. You should think careful before filing this kind of record, since it will last for 7-10 years on ones record. This is one simple reason of a bankruptcy lawyer exist, to help you filing all necessary legal paperwork while there are other benefits that you can have from a bankruptcy lawyer service. Before you decide to retain a bankruptcy lawyer you must have some previous referral to have further insight about them.

This way you would know the competency of the lawyer that you need to handle your case. You could look some information from your family and friends who already had been in bankruptcy condition. If you think it’s quite embarrassing for you to share, do not hesitate to ask for some information to your state’s Attorney General Office as they will advise you for referral list of bankruptcy lawyers in your area.

This recommended lawyer should be able to give you a lot of alternative ways to handle your case. You can ask their advice at their first consultation which usually comes free. And during this term, you should be putting out all of your real financial condition in order for them to give a lot of expert legal methods on wiping out your debts. They also will help you dealing with creditors for your debt repayment strategies.

So make sure that you choose an experienced and skilled lawyer who has dealt with lots of bankruptcy case. You also have to consider the level comfort that you need from your lawyer. A good lawyer will explain and respond well on every single questions and details that you need to know and to do subsequently. So you should provide your bankruptcy lawyer of all debt lists that you borne. A credible bankruptcy lawyer must also well aware with all new procedures and laws of bankruptcy, so you have access to legal advice and meet with required actions needed on time.

In order to choose a fair local standard fee, you can browse the bankruptcy lawyer fee online and have rates confirmation from your local association near you. Those free initial consultant lawyer also will offers a competitive rate for their fees, but don’t compromising quality and experience though. It might cost you a little bit but you will have a healthy financial back on track in the end.

Free Money Saving Auto and Home Loan Tips

Free Auto Loan Tips

The following tips should help increase your chances of getting a car loan at a better rate.

Tip #1 – If you just started a job (recently graduated from college) then wait 6 months to apply for your car loan.

Tip #2 – If you have currently have bad credit then repair it before applying for an auto loan.

Tip #3 – If you’ve recently moved then wait until you have lived at your new address for 6 months before applying for a loan.

Tips #4 – If you have had a previous auto loan or home mortgage on your credit report then your chances for a new loan improve greatly.

Tip #5 – Try and pay off all of your credit card balances or at least lower them. You may want to consider finding the best debt consolidation loans to erase all of your credit card bills. The bottom line is don’t keep a high debt load or credit card balances.

Tip #6 – You must have a stable job or occupation.

Tip #7 – Other examples of credit extended to you should appear on your credit report. Verify this with a quick and easy online credit report. Also avoid charge off’s on your credit report.

Tip #8 – If you’ve filed bankruptcy before then you should wait 3-4 years before trying to get an auto loan.

Free Home Loan Tips

Tip #1 – Make Bi-Monthly Payments: Instead of paying your mortgage with one monthly payment switch to paying half of your loan payment every 2 weeks. The savings comes from the 26 half payments you make which add up to 13 monthly payments versus the regular 12 payments you would normally make in a year. The end result is you save a large sum of money on the interest owed and you’ll own your home a lot sooner!

Tip #2 – Choose a 15 year mortgage instead of a 30 year mortgage: You’ll end up with a higher monthly payment but in the long run you also save tens of thousands of dollars in interest charges, especially if you shop for the best home loans you can afford.

Tip #3 – Mortgage Refinancing: Currently this is the most popular trend. You refinance your mortgage if you can get a rate that is at least one percentage point lower than your existing mortgage rate and plan to keep the new mortgage for several years or more.

Tip #4 – Buy down the rate: The seller or builder, or through innovative pricing, can help you buy down your mortgage rate for one, two, or three years.

Tip #5 – Consider an adjustable-rate mortgage (ARM): If you think you will be in your house for less then 5 years then perhaps you should consider an ARM. An adjustable-rate mortgage (ARM) starts with a considerably lower interest rate, but then adjusts every year. This type of loan moves a little bit of the risk away from the lender, and the lender rewards you with a lower rate. Usually these mortgages are capped to rise not more than two percent in any year, and not more than five or six percent for the life of the loan for your protection.

Mortgage Loan Tips

Finding the right mortgage loan when purchasing a house can be very hard and frustrating. Especially, if it is your first time of taking a loan. Buying a house and taking a mortgage loan on the house is a big step for you since it involves a lot of risk. You probably don’t know what to do or where to go. Do not allow other people take advantage of you ignorance. Take the time to learn everything there is to know about mortgage loans. Here are some mortgage loan tips to guide you on what to do.

The very first step you need to take is to shop around for lending companies offering mortgage loans. You can do research in the internet or personally talk to people who are experts in the field. Check out not only three but more than six lending companies and get estimates or quotes from each company to be able to compare. Then as you get to know each company inquire about their interest rates both in fixed and adjustable, fees and services being offered. With all the needed information at hand you can now compare one company to another. Then it would be easier for you to decide.

Never allow a company to encourage you to commit fraud by claiming that the loan is intended for business use when in fact it is for personal, family or household use. A loan that is based in wrong information will never get far nor prosper.

Get to know and understand everything about the loan you are taking. You have to know why you are paying it and know the different fees you are paying for.Every detail of the loan should be familiar to you and understood by you.

Be wary of prepayment penalties. Prepayment penalties are incurred when you make advance payments for your loans. The company will obligate you to pay the lending company six months worth of interest that you just paid in advance. So in the long run you still had to pay the interest even if you have made advance payment of the loan.

Quicksand loans should be avoided at all cost. This kind of loans contain combinations of short-term, high up front fees, high rates, balloon payments, exorbitant late fees and prepayment penalties. All these could swallow all your equity and ruin your financial position.

Review everything and in details before you sign any contract. You should know what every paragraph is saying. Go for lending institutions that offers the best deal and one you are most comfortable with.

Find out what is your credit report and check for any errors in the report. A good rating on credit report helps in the early approval of your loan.

You should have an idea on what mortgage plan will work best for you. What interest rate will be sustained by your current income? Take the time to study the advantages and disadvantages of the different mortgage loan types. Educating yourself will be an advantage for you. All these mortgage loan tips will hopefully help you make sound decision that will work best for your situation.

How to Get a 95% Home Loan for a Discharged Bankrupt

It is a widely held belief, that a discharged bankrupt can only apply for a home loan up to 80% of the value of the property, this is totally incorrect, there are lenders who will lend up to 95% of the value of the property, even if you have only been discharged for as little as one day.

You will need to be able to fund the cost of the LMI waiver fee, which at a borrowing level of 95% could be approximately 2% of the funds borrowed, this fee is charged in lieu of Lenders Mortgage Insurance, which is unavailable for borrowers who have been declared bankrupt.

So you would be wise to consider saving in the region of between 9% to 13% of the purchase price of the property, considering there may be transfer duty to pay as well.

Interest rates are an important consideration, they most certainly are not as low as those for people who do not have credit history problems, but the ability to switch to a lower rate is possible once 20% equity has been established in the property, subject to being discharged greater than two years.

What type of property can a discharged bankrupt buy?

As a discharged bankrupt you can buy an established dwelling to live in or as an investment property, newly completed dwellings or vacant land. You will be unable to build until you have enough equity to refinance to a lender who will approve your loan application for a total loan amount of 80% or less of the completed property’s value.

You will need to show solid repayment history for any property that you have rented, so renting via a property manager is a must, they will be able to provide the lender with a copy of your rental ledger to confirm that you have paid your rent on time.

The same applies for any credit facilities you may still have, or have obtained post bankruptcy, living by the mantra, “on time, every time” will put you in the best position for a home loan approval.

In essence, loans of this type are made available to people who have suffered a life changing event and who were unable to meet their financial commitments at that time, for many, these events were beyond their control. Lenders of this type take the opinion that having been in bankruptcy for three years and having re-established yourself via long-term employment and residential status you are sufficiently credit worthy again.

Bad Credit Car Loan Tips for Consumers

You have just received a response from an auto loan company that your application has been declined. According to the lending officer, your loan proposal has been rejected because of your bad credit history or low credit score. The lending company you submitted your car loan application to only accepts customers with good credit rating and obviously, you did not meet the lender’s criteria. What can you do?

Subprime Car Loans for People with Bad Credit

If your credit score is below average, then you fall into the subprime category. Does that mean you cannot get the car financing you need? Not at all! Many lending companies in the market do offer financing for the subprime market or consumers who are credit challenged. Even with bad credit, you can still get approved for a car loan but you need to find the right lender.

Do subprime car loans mean high rates and fees? Because of the greater risk involved, lenders may charge a little more on interest rate for this type of loan. But that does not mean you should settle for an unreasonably high rate or unfair terms. Even though you need to improve your personal credit score, you still deserve fair treatment.

Car Loan Tips for Consumers with Bad Credit

How can you get approved for a car loan if you have bad credit? More importantly, how can you find a car loan lender that offers a reasonable rate despite having bad credit? Consider the following tips:

Check out credit unions. It’s a good idea to check out your local credit unions for possible car loan financing programs. Credit unions are more likely to offer a much lower rate than what commercial lending companies offer even for consumers with bad credit history.

Check your credit report. If you’ve been denied financing because of your credit rating, you should immediately check your credit report. Order your report from each of the three major credit bureaus – Trans Union, Experian and Equifax.

See if there are errors or misinformation which could have caused your score to drop even more. If you do find errors, send a letter to the bureau that issued your report and request for corrections. Once the errors have been corrected, you might be able to raise your credit score significantly.

Watch out for predatory car dealers. Some car dealers that offer financing deals are after only one thing – making sales and making profit. You might be offered an attractive deal and easy approval despite your bad credit but once you signed up the contract, you might be informed that you did not qualify for the low rate because your credit score. You might end up paying an expensive loan because you’ve been ripped off by an unscrupulous car dealer.

Shop around and compare deals. In order to make sure that you’ve found a good deal, you should gather quotes from at least three to five lenders and compare the rates and fees. Use the internet to request for quotes for free. Use these quotes to narrow down your choices. Afterwards, be prepared to examine the background, terms and conditions of each prospective car loan lender.

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