One of the most common tax myths is that debts will be removed from your credit report as soon as they are settled. Because consumer credit bureaus rely on public records to determine credit scores, they do consider tax debts. Information is customarily collected from county and state courts. These courts offer credit bureaus a wealth of information, including bankruptcies, foreclosures, and federal tax liens.
What are federal tax liens?
A federal tax lien gives the IRS the option of taking possession of a taxpayer's property. If the individual is in arrears and has been notified of his tax debt, the IRS will give him ten days to respond to a final notice before they enact a priority claim. This means that the IRS will receive all proceeds if property or personal possessions are sold at auction after the debtor declares bankruptcy. These federal liens are filed publically as a way of warning other creditors that the IRS has first dibs on all future collections.
According to America's most respected credit score company, Fair Isaac Corporation (FICO), a federal tax lien is just like a bankruptcy, in that it remains on your record for seven years. Because these debtors have serous delinquencies, they invariably receive much lower credit scores that are difficult to improve in the short term.
Once a tax lien is filed, a person cannot simply erase it by paying it. The only way to avoid a black mark on your record is to pay your tax debt or to enter an IRS payment plan for taxes before the lien is filed. Recent changes at the IRS provide a way for taxpayers who pay their tax debt in full or who allow the IRS to auto-withdraw payments to request that a tax lien be lifted from their record. However, the IRS does not perform this step automatically, which means taxpayers must know how and when to ask for the lien to be lifted. The surest way to avoid a ding to your credit is to do whatever you have to with the IRS to avoid a federal tax lien in the first place.
Why is it important to pay?
The importance of credit reports and scores should not be underestimated. Poor scores can keep you from getting a loan, renting an apartment, getting the best auto insurance rates, and even from getting a job. At the very least, poor credit scores will ensure that you pay a lot more for your monthly credit card bills. In the end, it is almost always cheaper to pay a tax bill than it is to suffer through seven years of bad credit.
We should also mention that liens can eventually become levies if your take debt is left unpaid. That means the IRS can start seizing your assets and garnishing your wages. They can also go into your bank account and take every penny that is owed to them if you have the funds available. Once again, the only way to prevent this nightmare scenario is to settle taxes before an IRS lien tax is filed.
With the help of an experienced tax advisor, it may be possible to avoid an IRS lien tax and to negotiate a payment plan for taxes. If, however, the lien has already been filed, a tax expert may be able to help you subordinate the lien against your personal belongings and property. This will enable you to sell your home or refinance your mortgage to settle taxes and halt IRS harassment. Trust us, you do not want the IRS selling your property and/or belongings at auction. For one thing, they almost never get fair value, which means that you might still owe them back taxes even after they sell everything you own.
Saturday, June 30, 2012
Mexico Real Estate
When you start looking for Mexico real estate, there are basically two ways you can look for the best real estate deals out there the hard way and the easy way. Here we want to show you how to find the ideal real estate for your needs using online Mexico real estate tools.
When you start looking for Mexico real estate, there are basically two ways you can look for the best real estate deals out there the hard way and the easy way. Here we want to show you how to find the ideal real estate for your needs using online Mexico real estate tools to start off your real estate search the smart way.
First of all, let's consider the slow way. You start of by finding real estate listings. Let's just assume for the sake of argument, that you find good listings; they are thorough, easy to use and well organized and they also have a good search option. So you start looking. You choose condos in Puerto Vallarta between 0,000 and 0,000, just for the sake of an example. You look through the listings. There are many great options, you jot a couple of down that catch your attention.
A couple of days later you go back. You can only find half of the ones you jotted down (you're notes are messy) and you're not sure if 3 of the listings are new, or if you already saw them last time.
You also see one that looks like a great deal, but while you're trying to compare prices, you accidentally close the page and loose the listing. Basically it's like you're starting all over again every time you search.
Of course, later, you'll work with an agent who will do most of the organizing for you, but in the meantime it would be nice if you could have something that helps you with this task. The good news is, that there are online services to help you.
Personalized User Accounts Some brokerage groups have set up options for personalized user accounts. These allow you to browse listings from a variety of locations throughout the country, save listings that catch your attention and set up e-mail alerts for properties that meet your criteria. This save you time and helps you get organized.
Real Estate Deal Listings Remember that problem of deciding whether something's a good deal or not? Professionals have already gone to the trouble of doing this. Listings dedicated to the best deals available help you browse these options quickly. E-mail alerts for these give you the advantage of being the first to know.
So, which way would you prefer to search for real estate in Mexico? I suggest the smart and organized way, but then again, you can choose for yourself!
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
When you start looking for Mexico real estate, there are basically two ways you can look for the best real estate deals out there the hard way and the easy way. Here we want to show you how to find the ideal real estate for your needs using online Mexico real estate tools to start off your real estate search the smart way.
First of all, let's consider the slow way. You start of by finding real estate listings. Let's just assume for the sake of argument, that you find good listings; they are thorough, easy to use and well organized and they also have a good search option. So you start looking. You choose condos in Puerto Vallarta between 0,000 and 0,000, just for the sake of an example. You look through the listings. There are many great options, you jot a couple of down that catch your attention.
A couple of days later you go back. You can only find half of the ones you jotted down (you're notes are messy) and you're not sure if 3 of the listings are new, or if you already saw them last time.
You also see one that looks like a great deal, but while you're trying to compare prices, you accidentally close the page and loose the listing. Basically it's like you're starting all over again every time you search.
Of course, later, you'll work with an agent who will do most of the organizing for you, but in the meantime it would be nice if you could have something that helps you with this task. The good news is, that there are online services to help you.
Personalized User Accounts Some brokerage groups have set up options for personalized user accounts. These allow you to browse listings from a variety of locations throughout the country, save listings that catch your attention and set up e-mail alerts for properties that meet your criteria. This save you time and helps you get organized.
Real Estate Deal Listings Remember that problem of deciding whether something's a good deal or not? Professionals have already gone to the trouble of doing this. Listings dedicated to the best deals available help you browse these options quickly. E-mail alerts for these give you the advantage of being the first to know.
So, which way would you prefer to search for real estate in Mexico? I suggest the smart and organized way, but then again, you can choose for yourself!
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Friday, June 29, 2012
Mid Size Cars In Australia: An Excellent Choice Of Brands Available
The mid size car segment is thriving in most parts of the world, and Australia is no exception. These are cars that are a bit bigger than a compact and are referred to as the D segment in Europe. Both Australia and New Zealand though, prefer to call them mid size and though they are smaller as compared to North American standards, they are a great combination of just the right amount of space and power required for a small family.
Indeed, the mid size car segment has seen a resurgence with many Australians preferring them over the large gas-guzzling but spacious vehicles that have been dominant till now. The mid size car segment, as offered in the form of sedans and hatchbacks, is ideal for those looking for utility features at an affordable price. Most of the popular brands have latched on to this market segment and introduced models that boast of great internal space optimisation. The external dimensions too make them easy to park and by padding them with sufficient safety features, major brands have ensured that the customer does not feel insecure driving them.
These mid size cars are ideal for both city driving as well as for long highway routes. The leg room for passengers, sufficient engine power, and stream lined external dimensions, as well as adequate boot space provided at the rear, confer upon them the best of both the worlds the flexibility and easy maneuvering associated with small cars without the typical over sized issues that have plagued large cars.
With many people concerned about reducing the personal carbon footprint and also finding it difficult to meet mounting fuel expenses, the mid size car option has come as a breath of fresh air. These vehicles are very utilitarian and though lacking the panache or trendiness of their gas guzzling larger cousins, present the best option to those seeking the middle path and are more than happy to sacrifice performance for utility and money savings.
The consumer has never had it so good. The surfeit of brands that are available in this segment make it a problem of plenty to choose from. While Honda has been a dominant player for a long time in the Australian mid size market, Peugeot, Mazda, Ford, Toyota, Subaru, Audi, BMW, Citroen, Hyundai and many others have been making strong inroads into this segment over the last couple of years. All of them have been well received by the consumers and they have also been pampered with some very good introductory offers by these famous brands.
These top brands have been quickly able to blend ride comfort and fuel efficiency in each of their models, making them irresistible for the consumers. They have been diligent about taking consumer feedback and incorporating desired changes in the cabin space to make them not only roomier but also sophisticated so that the consumer does not feel at any point of time that he would have been better off with a larger sedan.
Indeed, the mid size car segment has seen a resurgence with many Australians preferring them over the large gas-guzzling but spacious vehicles that have been dominant till now. The mid size car segment, as offered in the form of sedans and hatchbacks, is ideal for those looking for utility features at an affordable price. Most of the popular brands have latched on to this market segment and introduced models that boast of great internal space optimisation. The external dimensions too make them easy to park and by padding them with sufficient safety features, major brands have ensured that the customer does not feel insecure driving them.
These mid size cars are ideal for both city driving as well as for long highway routes. The leg room for passengers, sufficient engine power, and stream lined external dimensions, as well as adequate boot space provided at the rear, confer upon them the best of both the worlds the flexibility and easy maneuvering associated with small cars without the typical over sized issues that have plagued large cars.
With many people concerned about reducing the personal carbon footprint and also finding it difficult to meet mounting fuel expenses, the mid size car option has come as a breath of fresh air. These vehicles are very utilitarian and though lacking the panache or trendiness of their gas guzzling larger cousins, present the best option to those seeking the middle path and are more than happy to sacrifice performance for utility and money savings.
The consumer has never had it so good. The surfeit of brands that are available in this segment make it a problem of plenty to choose from. While Honda has been a dominant player for a long time in the Australian mid size market, Peugeot, Mazda, Ford, Toyota, Subaru, Audi, BMW, Citroen, Hyundai and many others have been making strong inroads into this segment over the last couple of years. All of them have been well received by the consumers and they have also been pampered with some very good introductory offers by these famous brands.
These top brands have been quickly able to blend ride comfort and fuel efficiency in each of their models, making them irresistible for the consumers. They have been diligent about taking consumer feedback and incorporating desired changes in the cabin space to make them not only roomier but also sophisticated so that the consumer does not feel at any point of time that he would have been better off with a larger sedan.
Tuesday, June 26, 2012
Factors To Consider When Choosing Culinary Schools
Deciding whether or not to enter culinary school involves major contemplation. Some people eventually decide not to pursue. But those who decide to take up cooking classes should choose the right school. There are many culinary schools, and finding the ones with good reputation should be your priority.
Look for accredited schools.
In the United States, professional chefs have an organization called the American Culinary Federation (AFC). It regulates culinary schools, making sure they adhere to national standards in instruction and school facility. Schools should seek ACF accreditation to have high standing in the country.
The requirements for ACF accreditation are tough. To be accredited, a culinary school must have good curriculum, standard facilities, acceptable teacher-student ratios, certified/licensed instructors, and adequate learning materials. When a school is accredited, you know they have what it takes to offer competent instruction.
Consider the cost of culinary arts.
Ask any culinary arts student and they will tell you tuition is high. Cooking schools can charge about forty thousand dollars or even more. Many students cannot afford the cost, so they obtain student loans. When they graduate, they have to pay the debt, but there are a few entry-level cookery and food service jobs that pay high enough.
The high cost of culinary arts is enough to discourage many aspiring students. However, there are schools that offer affordable tuition. For instance, there are community colleges in California where culinary programs cost only about a thousand dollars. That is not so bad when compared to forty thousand dollars of tuition fees offered elsewhere. And you have to note that culinary programs do not have to be expensive.
Go to schools with good reputation.
New cooking schools are being established today to meet the needs of an increasing population of people who are interested in culinary arts. These new schools are usually not better than the old ones. Old schools most likely have accreditation. New schools may only be working to be accredited. Old schools with good track of record should be your best bet. There is a good reason why they lasted long in the field. Seasoned cooking schools are already aware of the market and most definitely would be able to provide instruction congruent to current market trends in culinary discipline.
Check the facilities of the school.
You will have to visit the school in person to find out if they have good buildings, comfortable rooms, and adequate facilities and equipment. This is where low-charging culinary arts institutions fall below the high-charging ones. The latter definitely would have enough budget to buy new facilities and do school improvements. Community colleges offering culinary arts may fall behind expensive schools when it comes to facilities and equipment. But who needs state-of-the-art facilities, especially when not all restaurants and kitchens in the world use them?
Ask senior students about their on-the-job training experience.
Culinary arts students cannot finish their course without going through a simulation training, wherein they are subjected to real-world restaurant training. This training should be realistic. The best schools do not spoil their students with practical restaurant service training wherein they only serve about twenty people daily. This is unrealistic. There are schools that actually require their students to work at local restaurants to get the actual feel of what it is like to work as a cook for real.
Look for accredited schools.
In the United States, professional chefs have an organization called the American Culinary Federation (AFC). It regulates culinary schools, making sure they adhere to national standards in instruction and school facility. Schools should seek ACF accreditation to have high standing in the country.
The requirements for ACF accreditation are tough. To be accredited, a culinary school must have good curriculum, standard facilities, acceptable teacher-student ratios, certified/licensed instructors, and adequate learning materials. When a school is accredited, you know they have what it takes to offer competent instruction.
Consider the cost of culinary arts.
Ask any culinary arts student and they will tell you tuition is high. Cooking schools can charge about forty thousand dollars or even more. Many students cannot afford the cost, so they obtain student loans. When they graduate, they have to pay the debt, but there are a few entry-level cookery and food service jobs that pay high enough.
The high cost of culinary arts is enough to discourage many aspiring students. However, there are schools that offer affordable tuition. For instance, there are community colleges in California where culinary programs cost only about a thousand dollars. That is not so bad when compared to forty thousand dollars of tuition fees offered elsewhere. And you have to note that culinary programs do not have to be expensive.
Go to schools with good reputation.
New cooking schools are being established today to meet the needs of an increasing population of people who are interested in culinary arts. These new schools are usually not better than the old ones. Old schools most likely have accreditation. New schools may only be working to be accredited. Old schools with good track of record should be your best bet. There is a good reason why they lasted long in the field. Seasoned cooking schools are already aware of the market and most definitely would be able to provide instruction congruent to current market trends in culinary discipline.
Check the facilities of the school.
You will have to visit the school in person to find out if they have good buildings, comfortable rooms, and adequate facilities and equipment. This is where low-charging culinary arts institutions fall below the high-charging ones. The latter definitely would have enough budget to buy new facilities and do school improvements. Community colleges offering culinary arts may fall behind expensive schools when it comes to facilities and equipment. But who needs state-of-the-art facilities, especially when not all restaurants and kitchens in the world use them?
Ask senior students about their on-the-job training experience.
Culinary arts students cannot finish their course without going through a simulation training, wherein they are subjected to real-world restaurant training. This training should be realistic. The best schools do not spoil their students with practical restaurant service training wherein they only serve about twenty people daily. This is unrealistic. There are schools that actually require their students to work at local restaurants to get the actual feel of what it is like to work as a cook for real.
Is It Possible to Qualify for a Mortgage with No Pay Slips?
Planning to take out a loan? Before you proceed, you need to make sure you will be able to meet all the requirements of lenders. One of them is showing proof that you have a stable income by being employed. You'd have to present an employment record and submit certain documents like pay slips and tax returns.
This is how the normal process of loan applications goes. Those who cannot adhere to the requirements are usually denied their request. This is because lenders have probably found them unfit for a loan. The most common reason is the lack of evidence that they have the financial ability to repay the loan. And they base their decisions on whether or not the borrower is able to produce the necessary documents.
But what about those who have money but without documents like pay slips? Will they be denied loans? It shouldn't be since the whole point is to prove you have money for the repayments, right?
Ideally, there should be no problem as long as the source of income is established. However, being worried as they are, lenders want to make sure that they have enough proof to show strong financial status. Saying you have money and a job that pays well is not enough. Your requirements need to show that.
This is where things can go wrong for a lot of people. How do you think you'd be able to take out a mortgage with no payslips or any other document?
This can really be a challenge for a lot of interested homebuyers. But there is a solution to this. If the typical lender does not want to give you a loan, then look for another one.
Know that there are many other lenders out there who are willing to gamble on you. They're more lenient and would look for other things that would show you have the ability to pay off a loan.
It's all right if you do not have any pay slips. They'd understand that you might have a job that is not like other people. You could be a casual worker or get more money form bonuses. They will not be too strict about certain policies and would look for ways on how they can actually help you.
Based on the other proof you can provide, they will assess your financial situation and, hopefully, award you with the loan. It's not really hard to do it especially when you have a mortgage broker to help you.
It's really advisable that you seek the help of mortgage brokers because they know how to go around these types of problems. They now which lenders offer alternative solutions like unusual employment mortgage.
They will convince lenders that you are fit to receive a loan. They can even negotiate for the most competitive rates and allow you to borrow as much as 90% of the property value.
With their help, you can still take out a mortgage with no paylips or any other documents that typical lenders are going to ask from you.
It will definitely make buying a house a lot easier.
This is how the normal process of loan applications goes. Those who cannot adhere to the requirements are usually denied their request. This is because lenders have probably found them unfit for a loan. The most common reason is the lack of evidence that they have the financial ability to repay the loan. And they base their decisions on whether or not the borrower is able to produce the necessary documents.
But what about those who have money but without documents like pay slips? Will they be denied loans? It shouldn't be since the whole point is to prove you have money for the repayments, right?
Ideally, there should be no problem as long as the source of income is established. However, being worried as they are, lenders want to make sure that they have enough proof to show strong financial status. Saying you have money and a job that pays well is not enough. Your requirements need to show that.
This is where things can go wrong for a lot of people. How do you think you'd be able to take out a mortgage with no payslips or any other document?
This can really be a challenge for a lot of interested homebuyers. But there is a solution to this. If the typical lender does not want to give you a loan, then look for another one.
Know that there are many other lenders out there who are willing to gamble on you. They're more lenient and would look for other things that would show you have the ability to pay off a loan.
It's all right if you do not have any pay slips. They'd understand that you might have a job that is not like other people. You could be a casual worker or get more money form bonuses. They will not be too strict about certain policies and would look for ways on how they can actually help you.
Based on the other proof you can provide, they will assess your financial situation and, hopefully, award you with the loan. It's not really hard to do it especially when you have a mortgage broker to help you.
It's really advisable that you seek the help of mortgage brokers because they know how to go around these types of problems. They now which lenders offer alternative solutions like unusual employment mortgage.
They will convince lenders that you are fit to receive a loan. They can even negotiate for the most competitive rates and allow you to borrow as much as 90% of the property value.
With their help, you can still take out a mortgage with no paylips or any other documents that typical lenders are going to ask from you.
It will definitely make buying a house a lot easier.
Get Home Loans With Bad Credit: Online Lenders Can Help You Succeed -
For many citizens, the chance to own a home is not something to pass up. Owning a home is the best way to build wealth over time and a true measure of a person's accomplishments. However finding home loans with bad credit may make this chance more elusive than ever. For borrowers with bad credit, home loans may seem like just another dream. However, there are ways to get the mortgage loan you need through online lenders who specialize in high risk lending.
Credit Is Still Important
Many people wonder why a simple three-digit score is so important when trying to buy a home. It's just a number after all, right? Wrong. The Fair Isaac Corp. (shortened as FICO) developed the credit scoring system as a means to help lenders assess the likelihood of default on loans. The system take several aspects of your credit: your asset to debt ratio, your past history of repayments, bankruptcies, foreclosures, etc. and uses that to generate a score that tells lenders a lot about you with little fuss.
Basically, the point of a credit score is to serve as a short cut for borrower evaluation. Bad credit means that the borrower has had problems with money in the past and may have problems in the future. Therefore, when looking for a home loan, bad credit is an important element that a lender will use to assess whether or not you will be able and willing to repay the loan on time and in good standing. If you do not do this, the lender loses money.
Lenders Willing to Take the Risk
Even if you have reformed bad habits or, worse, your poor credit score is a result of factors out of your control (such as lay-offs or medical bills) most traditional lenders will still consider you a rick when considering you for a home loan. With bad credit, no matter the reason for that bad credit, you are at a disadvantage with most lenders.
There are clear exceptions to this rule, however. Many lenders who operate online are willing to work with people whose credit scores are lower than ideal. Why? Many of these lenders understand that in cases where bad credit is a thing of the past, a second (or even third) chance is warranted. These lenders will give home loans to those with bad credit because they believe you have the ability and willpower to succeed.
There Are Still Penalties
This does not mean that you are on even playing ground with other borrowers however. Because of your bad credit, home loans will come with certain penalties or other circumstances that will offset the risk your bad credit creates. Principally, this means that your interest rate will be higher than those low rates you see advertised all the time. There may also be certain fees for late or missed payments that are higher than those on traditional loans. It is important to read all the fine print on your final loan papers in order to understand all of these circumstances.
The good news is that borrowers with bad credit can still get home loans. With bad credit, it is easy to get discouraged, but it is not necessary. Consider all the options in front of you and start your search today!
Credit Is Still Important
Many people wonder why a simple three-digit score is so important when trying to buy a home. It's just a number after all, right? Wrong. The Fair Isaac Corp. (shortened as FICO) developed the credit scoring system as a means to help lenders assess the likelihood of default on loans. The system take several aspects of your credit: your asset to debt ratio, your past history of repayments, bankruptcies, foreclosures, etc. and uses that to generate a score that tells lenders a lot about you with little fuss.
Basically, the point of a credit score is to serve as a short cut for borrower evaluation. Bad credit means that the borrower has had problems with money in the past and may have problems in the future. Therefore, when looking for a home loan, bad credit is an important element that a lender will use to assess whether or not you will be able and willing to repay the loan on time and in good standing. If you do not do this, the lender loses money.
Lenders Willing to Take the Risk
Even if you have reformed bad habits or, worse, your poor credit score is a result of factors out of your control (such as lay-offs or medical bills) most traditional lenders will still consider you a rick when considering you for a home loan. With bad credit, no matter the reason for that bad credit, you are at a disadvantage with most lenders.
There are clear exceptions to this rule, however. Many lenders who operate online are willing to work with people whose credit scores are lower than ideal. Why? Many of these lenders understand that in cases where bad credit is a thing of the past, a second (or even third) chance is warranted. These lenders will give home loans to those with bad credit because they believe you have the ability and willpower to succeed.
There Are Still Penalties
This does not mean that you are on even playing ground with other borrowers however. Because of your bad credit, home loans will come with certain penalties or other circumstances that will offset the risk your bad credit creates. Principally, this means that your interest rate will be higher than those low rates you see advertised all the time. There may also be certain fees for late or missed payments that are higher than those on traditional loans. It is important to read all the fine print on your final loan papers in order to understand all of these circumstances.
The good news is that borrowers with bad credit can still get home loans. With bad credit, it is easy to get discouraged, but it is not necessary. Consider all the options in front of you and start your search today!
Monday, June 25, 2012
Options For $5,000 Personal Loans For Bad Credit Borrowers To Consider
No-one can expect the task of securing a loan to be easy when bad credit scores are part of the equation. However, there is little reason to expect the task to be too difficult either. This is especially true when the purpose of the extra funds is to get existing debt in order. So, even a ,000 personal loan for bad credit borrowers is within reach.
There is no great trick to such deals. Lenders only want to be sure they will get their money back, while borrowers just want to secure a personal loan to kick-start their financial recovery. And since repaying the loan is the best way to rebuild their credit reputation, lenders know they can trust most bad credit borrowers.
Securing approval on a ,000 unsecured loan application is possible though clearly there are some strict criteria to adhere to also. But what are the best options to consider?
Deals From Online Lenders
Borrowing from online lenders can be one of the wisest moves for an applicant seeking a ,000 personal loan. For bad credit borrowers especially, the terms available with the loan packages they offer are almost perfect. While interest rates are competitive at best, repayment schedules are far more flexible than any traditional lender would offer.
But there are some factors to take into account. Firstly, many of these lenders carry out no credit checks when assessing the application. This is good news, but such a facility is available only on small personal loans, like ,000.
Also, because online lenders specialize in bad credit lending, the chances of getting approval are much higher. Approval is firmly focused on income, and having a full-time job for at least 6 months before applying for a ,000 unsecured loan is a basic requirement.
Cash Advance Loans
While online applications can be processed in as quickly as a few minutes, and funds forwarded to the bank account of the applicant in a few hours, there is still a stronger chance of being rejected than with a cash advance loan, for example. These are ideal when it comes to small loans (smaller than a ,000 personal loan) for bad credit borrowers.
Also known as payday loans, cash advance loans are limited to a maximum ,500 and are tailored to suit those in need of cash injections fast. Usually this is to ensure a financial emergency can be taken care of, like an unexpected bill or perhaps final notice.
However, this personal loan is granted against an upcoming paycheck, with the debt usually cleared in a single repayment within 30 days. What complicates this further is that interest is usually very high (35%), making the lump sum substantial, and the chances of getting ,000 unsecured loan very slim.
Loans From A Bidding Site
A third option is to join an online lending website and seek a loan from private lenders. Through this system, an applicant advertizes a desire to borrow a ,000 personal loan, for bad credit management purposes (or whatever the purpose is), and then await offers to finance the loan.
Members of the site bid for your approval by offering the lowest interest possible, and while they do make a profit the whole deal is a lot more affordable than it would be from a traditional lender.
Keep in mind, however, that such deals are outside the credit system, so repaying this personal loan does not improve your credit score. Also, while getting a ,000 unsecured loan is possible, it is necessary to propose a loan deal that is attractive. There is no guarantee any website member will show an interest.
There is no great trick to such deals. Lenders only want to be sure they will get their money back, while borrowers just want to secure a personal loan to kick-start their financial recovery. And since repaying the loan is the best way to rebuild their credit reputation, lenders know they can trust most bad credit borrowers.
Securing approval on a ,000 unsecured loan application is possible though clearly there are some strict criteria to adhere to also. But what are the best options to consider?
Deals From Online Lenders
Borrowing from online lenders can be one of the wisest moves for an applicant seeking a ,000 personal loan. For bad credit borrowers especially, the terms available with the loan packages they offer are almost perfect. While interest rates are competitive at best, repayment schedules are far more flexible than any traditional lender would offer.
But there are some factors to take into account. Firstly, many of these lenders carry out no credit checks when assessing the application. This is good news, but such a facility is available only on small personal loans, like ,000.
Also, because online lenders specialize in bad credit lending, the chances of getting approval are much higher. Approval is firmly focused on income, and having a full-time job for at least 6 months before applying for a ,000 unsecured loan is a basic requirement.
Cash Advance Loans
While online applications can be processed in as quickly as a few minutes, and funds forwarded to the bank account of the applicant in a few hours, there is still a stronger chance of being rejected than with a cash advance loan, for example. These are ideal when it comes to small loans (smaller than a ,000 personal loan) for bad credit borrowers.
Also known as payday loans, cash advance loans are limited to a maximum ,500 and are tailored to suit those in need of cash injections fast. Usually this is to ensure a financial emergency can be taken care of, like an unexpected bill or perhaps final notice.
However, this personal loan is granted against an upcoming paycheck, with the debt usually cleared in a single repayment within 30 days. What complicates this further is that interest is usually very high (35%), making the lump sum substantial, and the chances of getting ,000 unsecured loan very slim.
Loans From A Bidding Site
A third option is to join an online lending website and seek a loan from private lenders. Through this system, an applicant advertizes a desire to borrow a ,000 personal loan, for bad credit management purposes (or whatever the purpose is), and then await offers to finance the loan.
Members of the site bid for your approval by offering the lowest interest possible, and while they do make a profit the whole deal is a lot more affordable than it would be from a traditional lender.
Keep in mind, however, that such deals are outside the credit system, so repaying this personal loan does not improve your credit score. Also, while getting a ,000 unsecured loan is possible, it is necessary to propose a loan deal that is attractive. There is no guarantee any website member will show an interest.
Sunday, June 24, 2012
Payday Loans - Guaranteed Payday Loans
If you need to find a way to pay a bill that is late, are running short on cash until payday, or need to have cash, there is something that you can do. Payday loans are available to help lend you the money that you need until you get paid. While every payday loan and company have different payment structures and requirements, you can find the guaranteed payday loans that you need to get your bills paid and not have to wait until payday.
If you are looking for a payday loan company that you can rely on to get you the money without having to wait, you can find that there are online payday loans like dayday365.co.uk that can help get you the money and you will not have to wait for it. If you have been looking at different instant payday loans, and are not sure how to know which ones are the best, you can look to see which ones offer you the money when you need it, and what they charge in fees.
The process is usually pretty simple and you have to fill out the information and get qualified to see if you are able to get a payday loan. Once you have been approved, you will be able to see how much you qualify for. After you get the loan, you set up payments with the company and the payments are usually due on the next payday. Many people use the payday loans to help them get the bills paid and not have to wait until payday. If you need to have money and you are not sure where to go, you can find the online payday loans that you need that can help you get the money and not have to wait for it.
Finding the guaranteed payday loans online is easy, and you can fill out the form and submit it to see if you qualify. Most payday loan companies may request additional information from you and make sure that you have been employed and that you have a bank account. If you meet the qualifications for the loans, you are able to be approved. The company will approve you for a certain amount that they can lend to you and then you will have to set up the payments with them to get then paid back. There are charges associated with payday loans, so check with the company first to make sure that you see how much you are going to have to pay to receive the loan and the details of paying the loan.
If you are looking for a payday loan company that you can rely on to get you the money without having to wait, you can find that there are online payday loans like dayday365.co.uk that can help get you the money and you will not have to wait for it. If you have been looking at different instant payday loans, and are not sure how to know which ones are the best, you can look to see which ones offer you the money when you need it, and what they charge in fees.
The process is usually pretty simple and you have to fill out the information and get qualified to see if you are able to get a payday loan. Once you have been approved, you will be able to see how much you qualify for. After you get the loan, you set up payments with the company and the payments are usually due on the next payday. Many people use the payday loans to help them get the bills paid and not have to wait until payday. If you need to have money and you are not sure where to go, you can find the online payday loans that you need that can help you get the money and not have to wait for it.
Finding the guaranteed payday loans online is easy, and you can fill out the form and submit it to see if you qualify. Most payday loan companies may request additional information from you and make sure that you have been employed and that you have a bank account. If you meet the qualifications for the loans, you are able to be approved. The company will approve you for a certain amount that they can lend to you and then you will have to set up the payments with them to get then paid back. There are charges associated with payday loans, so check with the company first to make sure that you see how much you are going to have to pay to receive the loan and the details of paying the loan.
Friday, June 22, 2012
What Are The Similiar Things Between A Mlp And Reit?
Why not invest your assets in the companies you really like? As Mae West said, "Too much of a good thing can be wonderful".
Warren Buffett, legendary investor and the third richest man in the world.
The importance of investing in creating wealth is underscored by Warren Buffett's career. However, very few have the business acumen of the Oracle of Omaha and have to depend on others' expertise for managing wealth. This has given rise to investing vehicles like mutual funds, Real Estate Investment Trusts (REITs) and Master Limited Partnerships (MLPs).
While mutual funds have been around for some time, REITs and MLPs are comparatively recent innovations. Both of them share some similarities and differences.
A REIT is defined as a tax designation for a corporate entity investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90 percent of their income, which may be taxable, into the hands of the investors. The REIT structure was designed to provide a similar structure for investment in real estate as mutual funds provide for investment in stocks.
A MLP is defined as a limited partnership that is publicly traded on a securities exchange. It combines the tax benefits of a limited partnership with the liquidity of publicly traded securities. To qualify for MLP status, a partnership must generate at least 90 percent of its income from what the US Internal Revenue Service (IRS) deems "qualifying" sources. For many MLPs, these include all manner of activities related to the production, processing or transportation of oil, natural gas and coal.
Now, let's talk about the similarities between a Master Limited Partnership (MLP) and a Real Estate Investment Trust (REIT).
One similarity, that has main implications for investors, is that they keep off the corporate income tax, on both a state and federal basis. finally, the investor's share of the proceeds increases. Another major similarity that both REITs and MLPs also share with ordinary shares, pardon the wordplay, is their tradeability. Units of both REITs and MLPs are traded on stock exchanges just like common stock.
Another similarity is that both REITs and MLPs are classified into three categories each. REITs are of the following three types:
1.Equity REITs: These own real estate like offices, malls, etc.
2.Mortgage REITs: These lend money to real estate owners or buy existing mortgages or mortgages backed securities.
3.Hybrid REITs: These are basically a mixture of the above two types - own real estate and lend money to owners of real estate.
MLPS are of the following three types:
1.Roll-up: Multiple assets or small limited partnerships combined into a larger limited partnership.
2.Rollout: A large, single multiple limited partnership like a corporation spins off some of its assets into a separate multiple limited partnerships.
3.Roll-in: New assets put into a multiple limited partnership with a guarantee to combine supplementary assets in future.
As is clearly seen, there is a lot that is common between these two investment vehicles.
Warren Buffett, legendary investor and the third richest man in the world.
The importance of investing in creating wealth is underscored by Warren Buffett's career. However, very few have the business acumen of the Oracle of Omaha and have to depend on others' expertise for managing wealth. This has given rise to investing vehicles like mutual funds, Real Estate Investment Trusts (REITs) and Master Limited Partnerships (MLPs).
While mutual funds have been around for some time, REITs and MLPs are comparatively recent innovations. Both of them share some similarities and differences.
A REIT is defined as a tax designation for a corporate entity investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90 percent of their income, which may be taxable, into the hands of the investors. The REIT structure was designed to provide a similar structure for investment in real estate as mutual funds provide for investment in stocks.
A MLP is defined as a limited partnership that is publicly traded on a securities exchange. It combines the tax benefits of a limited partnership with the liquidity of publicly traded securities. To qualify for MLP status, a partnership must generate at least 90 percent of its income from what the US Internal Revenue Service (IRS) deems "qualifying" sources. For many MLPs, these include all manner of activities related to the production, processing or transportation of oil, natural gas and coal.
Now, let's talk about the similarities between a Master Limited Partnership (MLP) and a Real Estate Investment Trust (REIT).
One similarity, that has main implications for investors, is that they keep off the corporate income tax, on both a state and federal basis. finally, the investor's share of the proceeds increases. Another major similarity that both REITs and MLPs also share with ordinary shares, pardon the wordplay, is their tradeability. Units of both REITs and MLPs are traded on stock exchanges just like common stock.
Another similarity is that both REITs and MLPs are classified into three categories each. REITs are of the following three types:
1.Equity REITs: These own real estate like offices, malls, etc.
2.Mortgage REITs: These lend money to real estate owners or buy existing mortgages or mortgages backed securities.
3.Hybrid REITs: These are basically a mixture of the above two types - own real estate and lend money to owners of real estate.
MLPS are of the following three types:
1.Roll-up: Multiple assets or small limited partnerships combined into a larger limited partnership.
2.Rollout: A large, single multiple limited partnership like a corporation spins off some of its assets into a separate multiple limited partnerships.
3.Roll-in: New assets put into a multiple limited partnership with a guarantee to combine supplementary assets in future.
As is clearly seen, there is a lot that is common between these two investment vehicles.
Thursday, June 21, 2012
Stock Investment In Nigeria: Its Process And Benefits
Introduction
Securities are created and issued by corporate bodies and governments, which are in need of funds to finance expansion or development projects. For instance, Wazobia Plc, a manufacturing concern needs to expand its facilities to accommodate present and anticipated consumer demand as well as replace aging or obsolete equipments. It is however, short of internally generated funds (retained earnings) to undertake the projects require long gestation and payback periods, money market facilities which have short tenure would be inappropriate funding sources. The company would be left with one possible option, that is, to access the capital market if it meets the requirements for entry. This could be done by issuing shares and/or debt instruments. (Securities and Exchange Commission, 1999). Thus, capital market is a segment of financial market that is responsible for mobilizing and channelling long term funds into productive investment such as fixed assets. The investments in capital market are at longer period of time, which are held for a minimum of five years.
Moreover, the term securities consist of stocks and bonds. It is not possible in
this paper to digest all aspect of securities. Therefore, this paper shall limit itself to stocks only (i.e. shares).
Theoretical Framework
Fischer and Jordan (2005) see investment as a commitment of funds made in the expectation of some positive rate of return. If the investment is properly undertaken, the return will be commensurate with the risk the investor assumes.
Similarly, an investment is the current commitment of money or other resources in the expectation of reaping future benefits. For example, an individual might purchase shares of stock anticipating that the future proceeds from the shares
will justify both the time that her money is tied up as well as the risk of the investment. You sacrifice something of value now, expecting to benefit from that sacrifice later. (Bodie, Kane, and Marcus, 1998, p. 2).
Distinction between real assets and financial assets
According to Bodie, Kane, & Marcus (1998) real assets are assets used to produce goods and services. In contrast to such real assets are financial assets, such as stocks and bonds. Such securities are no more than sheets of paper (or entries in a computer) Financial assets are claims to the income generated by real assets (or claims on income from the government). If we cannot own our own auto plant, we can still buy shares in General Motors or Toyota and, thereby, share in the income derived from the production of automobiles.
Definition of Stock
In simple terms shares is ownership in share of a corporation. According to Ahmed (2008) securities as stocks and bonds. According to him, a stock represents a share, or percentage, in a corporation's profits and assets. By purchasing stock an investor is buying a percentage of ownership in a company.
Different Types of Stock
There are two main types of stock or shares, namely; ordinary shares and preference shares. Ordinary shares according to Nwiwu, Ya'u, Ezeocha, Ezima and Uzoigwe (2007) this form that part of capital structure of the business contributed by the common stock holders .For a new company it is called venture capital but in the old companies it is called equity share capital.
Ordinary or equity shareholders ordinarily own the business, so all reserves belong to them. They have the right to votes in the company. The shares are non- redeemable even though transferable. However, they have no fixed rate of dividend since rate depends on the level of profitability, company liquidity and management discretion. On the other hand, Preference shares are the hybrid or bat of financing because they exhibit the tendencies of both equity and debt at the same time. They have a fixed percentage dividend before any dividend is paid to the ordinary shareholders.
Share Certificate
Nwaiwu (2004) when shares are allotted to the investor a note will be sent indicating the number of shares allotted. After some period a share certificate will be issued. This certificate is a security, a proof of ownership of the shares in the company. If in future the shareholder wishes to sell the shares, the share certificate must be surrendered to a stockbroker who will forward it to the company's registrar. Nigerian Investments and Securities Law Reports (2004) pointed out that securities in the market are available in either of the following two (2) forms:
i. In certificate form; and
ii. In dematerialized form
When a security is presented in a certificate form, the selling agent needs to verify the signature of the holder and the validity of the presented certificate(s) with the Registrar to the company, after which it could be deposited for sale or any other form of transfer in dematerialized form into the account of the beneficial owner held with the CSCS. Consequently, any subsequent sale or transfer of these securities can validly be undertaken without any need to revert to the Registrar. It therefore follows that securities held in the CSCS account of any holder are deemed to have undergone the necessary verification and confirmation with the Registrars and therefore the holder is rightfully accepted as the true beneficial owner of the securities reflected in his account with CSCS. Thereafter, the only proof of ownership of the said securities that is available to the beneficial owner is the CSCS statement of account issued to him.
Benefits of Investing in Shares
According to Kofa (2004) there are numerous benefits accruing to a shareholder who invests in shares. Such benefits include:
i) Return on investment by way of dividend payment (share of profit by the company on each share owned by the shareholder. This of course depends on the number of shares held by the shareholder. The dividend declared by the company's Directors must however be approved at the company's Annual General Meeting (AGM).
ii) Bonus issue, this is an additional share given to shareholders based on the number of shares owned by each shareholder free of charge at a ratio approved by the Board of Directors/Management and ratified at the company's AGM.
iii) Capital appreciation; this is an increase of share price over time. The value of company share increases due to performance and demand/supply factors. That is, for example, unit price of share purchased today at N10.00 could be N20.00 one year after, due to market forces.
iv) It can be used for security/collateral for loan purposes. Share certificates or statements are acceptable as good collateral for loans by banks and other financial institutions.
v) Pressing immediate needs could be met without seeking any bank/individual financial assistance by disposition of shares.
Risks associated with stock investment
Elakama (2004) emphasized that there are no guarantees when it comes to individual stocks. Some companies pay out dividends, but many others do not. And there is no obligation to pay out dividends even for those firms that have traditionally given them. Without dividends an investor can make money on a stock only through its appreciation in the open market. On the downside, any stock may go bankrupt, in which case your investment is worth nothing.
Similarly, Securities and Exchange Commission (1999) like other forms of investments, there are risk/cost associated with investing in the capital market. There are also obligations on issuers of securities. The risk to investors includes possible unfavourable rate of return owing to depreciation in market value and/or nonpayment of dividends. It could also involve possible loss of investment should a company go burst.
Nature of capital market
At this point, it is important to recognise the nature of capital market. Sulaiman (1999) defines capital market as a network of interrelated institutions governed by operational guidelines which permit the sale of equity and long term debt
Elements of the capital market
There are three identifiable features of a capital market. These are: the instruments; the market place; and the participants.
a) Financial instruments
Financial instruments are the investment products, created to ensure the smooth and easy transfer of funds in the capital market. These instruments, generally known as securities are financial assets, which represent either debt or ownership. The instruments have various features depending on their type between the primary and secondary markets is the fact that proceeds of sale of primary securities go to the issuer (company or government) whereas in the secondary market, proceeds go to the investor.
b) The market place
Securities and Exchange Commission (1999) the capital market is divided into two separate but closely-related segments known as the primary and secondary markets. Primary Market a forum where new shares are offered to both existing shareholders and general public for purchase. Primary market offers can either be made directly by the company to increase its paid-up capital or through privatization of Government holdings, technically called divestment of government shares. On the other hand, Secondary Market is a market where existing shares are traded (sold and bought). Trading of shares at secondary market takes place on the floor of The Nigerian stock exchange. The Stockbrokers buy and sell shares on behalf of their respective clients. Essentially, the Stockbrokers are the dealing member firms licensed by both the Nigeria Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) to deal on shares and offer other services to the investing public. (Kofa, 2004, p.28).
c) Participants in the Market
Securities and Exchange Commission (1999) to facilitate the saving and investment process in any economy, financial intermediaries must exist and in good number. The financial intermediary is essentially a middleman who pools funds form savers and passes on such funds to those in need of them. An intermediary is a specialist) professional) in his line of business and thus, heavily relied upon by his clients to make good investment judgement on their behalf or provide professional advisory services to them. The capital market has a wide array of intermediaries performing various intermediation functions. They include:
i) Issuing Houses: These are institutions which assist corporate bodies and governments to raise long-term funds by packaging security issues for subscription on their behalf. The issuing house by this function plays a central role in the issuance process, and in industrial development. The issuing house as the principal agent of and adviser to the issuer has the responsibility of advising its clients on the most appropriate instrument and method of sourcing the required capital. It also has the responsibility of assembling and coordination all other specialists required in the issue process, ensuring that statutory and all other requirements are met, and that the issue is properly packaged and successfully concluded. Packaging would include pricing of the securities, preparation of the prospectus and other documents, as well as marketing and distribution of the securities.
ii) Stockbrokers/dealers: These are major players in the secondary market. Stockbrokers are the only persons permitted to transact business on the floor of a stock exchange or on the over-the-counter market. A stockbroker, therefore, stands between the seller and buyer of registered securities, making it possible for both parties to realize their desire to buy or sell securities. To act as an agent of the public or deal in his own account, a stockbroker/dealer must be registered by the statutory regulatory agency (Securities and Exchange Commission) and licensed by the stock exchange. As an agent of his client, the stockbroker is under obligations to transact business for him at the best price obtainable in the market.
iii) Investment Advisers: These are institutions/persons registered by the statutory regulatory agency to provide investment advisory services to their client for a fee. Investment advisory services are incidental to stock broking and issuing house business.
iv) Portfolio Managers: These are institutions registered by the statutory regulatory agency to manage the portfolio of clients. Portfolio management entails the receipt of funds, sometimes very large sums, to be invested by the portfolio manager. Most often, the choice of investments are left to the manger who however must send periodic investment statements, to his client. In exercising his discretion, the manager must at all times, consider the best interest of his clients. Both investments advisory and portfolio management services require extensive economic/market analyses to guide investment decisions and advice to clients.
v) Registrars: These are institutions employed by companies to keep comprehensive registers of their members (shareholders) and creditors. In addition, they arrange annual general and extra-ordinary meetings for their clients; distribute stock/share certificates, annual reports, dividend warrants and notices of shareholders' meetings. In cases of issue oversubscription, registrars dispatch surplus monies to subscribers.
vi) Trustees: These are important participants in debt issues and collective investment schemes such as unit trust. The trustee protects the interest of investors in debt instruments by monitoring and ensuring the fulfillment of the term of the trust deed.
vii) Receiving Agents: These are banks and stockbroking firms appointed by the issuing house to serve as centers for the distribution of offer applications forms, as well as for the receipt of subscriptions monies on behalf of the issuing house, for a fee.
viii) Receiving Bankers: These are banks designated by an issuer to receive proceeds of an issue on its behalf.
ix) Solicitors: These are law firms which either represent the issue or the issuer. In practice, two solicitors are required in a public issue of securities. These are the solicitor to the company (issuer) and the solicitor to the issue. The solicitor to the company among other things ensures that the memorandum and articles of association of the company are in consonance with legal requirements of a public company, and effect amendments where necessary. The solicitor would examine issue relating to the authorized capital, ensuring that it can accommodate the issue being proposed. Where a debenture stock is to be floated, the solicitor would make sure that the company has the borrowing power to do so. Generally, it is the duty of the solicitor to the company to ensure that the company complies with the provisions of the corporate law of the country (e.g. the Companies and Allied Matters Decree 1990 in Nigeria).
x) Auditors: These are the existing auditors of the company. In their capacity as the auditors, they provide historical perspective on the accounts of the company for inclusion in the prospectus.
xi) Reporting Accountants: These are firms of accountants which provide independent assessment of the accounts of the company. They review management forecast and examine the reasonableness or otherwise of such forecast. Based on their findings, the reporting accountants can recommend adjustments to the management forecast. They also prepare statement of indebtedness of the company, among other things.
Prerequisites to successful investing in stock
a) Selecting a Broker
According to Fischer and Jordan (2005) the investor's first step in establishing a satisfactory relationship with a broker is to choose a firm that is suitable for his needs and to select a representative of the firm with whom he can work. In practice separating the two choices is hard, for if one has chosen a satisfactory firm but is unhappy with the representative, it is embarrassing to shift one's account to another representative within the same firm. The brokerage firm should be a well-known and long-established institution. In selecting a firm an investor can ask for recommendations from his bank or from friends whose opinions he trusts.
b) Opening a Brokerage Account
This is an investment account, which is opened with the CSCS through a stockbroker. When this account is opened a client is issued with two numbers. The first number is called 'CSCS No.'. It is computer-generated numbers allocated to a new shareholder. It is unique to each stock-broking firm. Although a shareholder can have as many accounts as the number of stockbroking firms he uses. Furthermore, CSCS No is alphanumeric which is used if you have to fill in public offers if you desire shares allotted to you to be credited to your account.
Investors Account No. is numeric which is used internally on the floor for trading. In other word, investor's No. is the CHN represents the Clearing House Number assigned to every shareholder at the first point of entry into the CSCS system. He/She must have completed the CSCS -- R005 Shareholders Particulars Form. They are to provide the same CHN to all subsequent stockbroking firms they may have transactions with for ease of reference.
Other Prerequisites to successful investing in stock include opening a Bank Account, access to Post office Box (P. O. Box), access to Phone and active E-mail Address.
Process of acquiring shares
According to Nigerian Investments and Securities Law Report [NISLR] (2004) shares could be acquired by six (6) main modes;
1) Public offer;
2) Rights offer;
3) Bonus;
4) Nominal transfer; i.e. Transfer of share by way of gift.
5) Transmission from a dead relation or friends or collective investments or investments previously held under a corporate name for a beneficiary; and lastly
6) By purchase on the secondary market.
In general, a prospective investor who wishes to purchase shares on the secondary market is expected to approach a stockbroker such as Newdevco with a request to purchase or to invest in shares at a secondary market. In response, the stockbroker asks the prospective client which stock/shares he/she intends to purchase. Where the client has a selected stock in mind, the stockbroker executes the order according to the expressed need or interest of the client/customer. (Kofa, 2004).
Kofa (2004) added that in a situation where a client does not know which stock/share to buy, the stockbroker explains and advises the client accordingly in detail the shares to invest in. Consequently the stockbroker gives the client the necessary share transfer forms and Central Security Clearing System (CSCS) (particulars of shareholder) for completion. These documents are used to lodge the shares at Registrars Department of the company and also to open the new CSCS account for the client. The shares requested by client to be purchased are normally paid for by Bank Draft or physical clash to a stockbroker, who will in turn given an official receipt for the draft value or cash collected. Thereafter, the stockbroker purchases the shares as requested by client. Whenever the transactions are fully consummated, the stockbroker shall forward the CSCS statement of stock position to the client as evidence of ownership of such shares.
Benefits of Central Security Clearing System (CSCS)
Nigerian Stock Exchange (2008) states the benefits of CSCS to the operation of the Nigerian Stock Exchange as follows:
a) To Investors
Investors statements of stock position are issued every quarter free of charge or on demand for =N=100.00.
Use of stock position as collateral for loan facility after T + 3 settlement cycle i.e. 4 working days. In effect, a statement of stock position is obtainable from CSCS 4 days after transaction.
Investors can speculate more and take advantage of capital appreciation in their investment because of the T+3 settlement cycle.
Reduced risk of loss of certificates.
b) Quoted Companies
Huge cost associated with the production of share certificates for transaction through the secondary market has been significantly reduced.
Before CSCS, a single transaction on a certificate led to the cancellation of the certificate and the issuance of as many as ten (10) certificates depending on allotments made. This is no longer so since few shareholders request for certificates.
Indeed, of the 400,000 shareholders who use CSCS system now, only 2,200 shareholders have requested for certificates to date.
Amalgamation/consolidation of several accounts for a shareholder on the register leading to reduction of cost to the company.
c) Stockbroking Firms
Prompt Inter-member money and stock-settlement are assured.
The problems associated with delivery of shares are minimize
Increased efficiency and profit
Reduction in operational cost.
Disposal of Shares
According to Kofa (2004) a shareholder who wishes to dispose his/her shares is expected to go to a licensed stockbroker only. A Stockbroker is seen as the authorized agent approved by the government to deal in shares, especially in the purchase or sale of shares on behalf of an individual, group or company. The original hare certificates or CSCS statement will be tendered to a Stockbroker who will issue the relevant forms for completion by the shareholder and then forwarded to company Registrars for signature verification. That is, confirm the ownership of the shares in the case of share certificate. However, in the case of CSCS statement, the stockbroker verifies his client's signature. After the confirmation of signature, the share is taken to the floor of, say, the Nigerian Stock Exchange for appropriate disposal. After the disposal contract, a note shall be raised appropriately and the net proceeds is remitted to the shareholder after commissions and statutory charges are deducted as approved by the Nigerian Stock Exchange.
Recent Development in the Nigerian Capital Market
There are two recent developments in the Nigerian Capital Market. First, is the launching the e-dividend payment system which would subsequently solve the problem of unclaimed dividends by the Securities and Exchange Commission (SEC).
According to Olamijulo (2008) the e-dividends payment system refers to the payment of dividend due to shareholders through electronic means into the shareholders' nominated bank accounts. It implies same day clearance for dividend payment. He added that the system would enable shareholders receive their dividends on the same day, thereafter a confirmation letter of the dividend payment would be dispatched by the registrar. The e-dividend payment system would minimise cases of unclaimed dividends, eliminate dividend loss in transit, the forfeiture of dividends in the future and enhance the ability of shareholders to immediately access and utilize the proceeds of their investments.
Secondly, is the launching of e-allotment which will be fully operational from January 1, 2009. Ahmed, (2008) reported that the system is aimed at enabling the achievement of a certificate-less system in the Nigeria capital market.
E-allotment of shares as it is known is a process of direct credit of approved allotment on offers to the CSCS account of shareholders, as against the conventional issuance of share certificates. It is a process which will aid the achievement of certificateless transaction in the Nigerian capital market. (UBA Registrars, 2008)
The e-allotment is introduced as a result of postal services delays, and "the need to reduce costs in printing and dispatch of share certificates as well as to enable all investors in public offers speedily allotted shares."
Conclusions and Recommendations
It can be concluded that in Nigeria, the only obstacle to stock investment is the low level of investors' enlightenment on the benefits of the entire system, which has greatly affected the acceptance level negatively. Therefore, it is recommended that the regulatory agencies like the Nigerian Stock Exchange and Securities and Exchange Commission should continue to enlighten Nigerian especially, using major Nigerian languages on the gains of stock investment.
Securities are created and issued by corporate bodies and governments, which are in need of funds to finance expansion or development projects. For instance, Wazobia Plc, a manufacturing concern needs to expand its facilities to accommodate present and anticipated consumer demand as well as replace aging or obsolete equipments. It is however, short of internally generated funds (retained earnings) to undertake the projects require long gestation and payback periods, money market facilities which have short tenure would be inappropriate funding sources. The company would be left with one possible option, that is, to access the capital market if it meets the requirements for entry. This could be done by issuing shares and/or debt instruments. (Securities and Exchange Commission, 1999). Thus, capital market is a segment of financial market that is responsible for mobilizing and channelling long term funds into productive investment such as fixed assets. The investments in capital market are at longer period of time, which are held for a minimum of five years.
Moreover, the term securities consist of stocks and bonds. It is not possible in
this paper to digest all aspect of securities. Therefore, this paper shall limit itself to stocks only (i.e. shares).
Theoretical Framework
Fischer and Jordan (2005) see investment as a commitment of funds made in the expectation of some positive rate of return. If the investment is properly undertaken, the return will be commensurate with the risk the investor assumes.
Similarly, an investment is the current commitment of money or other resources in the expectation of reaping future benefits. For example, an individual might purchase shares of stock anticipating that the future proceeds from the shares
will justify both the time that her money is tied up as well as the risk of the investment. You sacrifice something of value now, expecting to benefit from that sacrifice later. (Bodie, Kane, and Marcus, 1998, p. 2).
Distinction between real assets and financial assets
According to Bodie, Kane, & Marcus (1998) real assets are assets used to produce goods and services. In contrast to such real assets are financial assets, such as stocks and bonds. Such securities are no more than sheets of paper (or entries in a computer) Financial assets are claims to the income generated by real assets (or claims on income from the government). If we cannot own our own auto plant, we can still buy shares in General Motors or Toyota and, thereby, share in the income derived from the production of automobiles.
Definition of Stock
In simple terms shares is ownership in share of a corporation. According to Ahmed (2008) securities as stocks and bonds. According to him, a stock represents a share, or percentage, in a corporation's profits and assets. By purchasing stock an investor is buying a percentage of ownership in a company.
Different Types of Stock
There are two main types of stock or shares, namely; ordinary shares and preference shares. Ordinary shares according to Nwiwu, Ya'u, Ezeocha, Ezima and Uzoigwe (2007) this form that part of capital structure of the business contributed by the common stock holders .For a new company it is called venture capital but in the old companies it is called equity share capital.
Ordinary or equity shareholders ordinarily own the business, so all reserves belong to them. They have the right to votes in the company. The shares are non- redeemable even though transferable. However, they have no fixed rate of dividend since rate depends on the level of profitability, company liquidity and management discretion. On the other hand, Preference shares are the hybrid or bat of financing because they exhibit the tendencies of both equity and debt at the same time. They have a fixed percentage dividend before any dividend is paid to the ordinary shareholders.
Share Certificate
Nwaiwu (2004) when shares are allotted to the investor a note will be sent indicating the number of shares allotted. After some period a share certificate will be issued. This certificate is a security, a proof of ownership of the shares in the company. If in future the shareholder wishes to sell the shares, the share certificate must be surrendered to a stockbroker who will forward it to the company's registrar. Nigerian Investments and Securities Law Reports (2004) pointed out that securities in the market are available in either of the following two (2) forms:
i. In certificate form; and
ii. In dematerialized form
When a security is presented in a certificate form, the selling agent needs to verify the signature of the holder and the validity of the presented certificate(s) with the Registrar to the company, after which it could be deposited for sale or any other form of transfer in dematerialized form into the account of the beneficial owner held with the CSCS. Consequently, any subsequent sale or transfer of these securities can validly be undertaken without any need to revert to the Registrar. It therefore follows that securities held in the CSCS account of any holder are deemed to have undergone the necessary verification and confirmation with the Registrars and therefore the holder is rightfully accepted as the true beneficial owner of the securities reflected in his account with CSCS. Thereafter, the only proof of ownership of the said securities that is available to the beneficial owner is the CSCS statement of account issued to him.
Benefits of Investing in Shares
According to Kofa (2004) there are numerous benefits accruing to a shareholder who invests in shares. Such benefits include:
i) Return on investment by way of dividend payment (share of profit by the company on each share owned by the shareholder. This of course depends on the number of shares held by the shareholder. The dividend declared by the company's Directors must however be approved at the company's Annual General Meeting (AGM).
ii) Bonus issue, this is an additional share given to shareholders based on the number of shares owned by each shareholder free of charge at a ratio approved by the Board of Directors/Management and ratified at the company's AGM.
iii) Capital appreciation; this is an increase of share price over time. The value of company share increases due to performance and demand/supply factors. That is, for example, unit price of share purchased today at N10.00 could be N20.00 one year after, due to market forces.
iv) It can be used for security/collateral for loan purposes. Share certificates or statements are acceptable as good collateral for loans by banks and other financial institutions.
v) Pressing immediate needs could be met without seeking any bank/individual financial assistance by disposition of shares.
Risks associated with stock investment
Elakama (2004) emphasized that there are no guarantees when it comes to individual stocks. Some companies pay out dividends, but many others do not. And there is no obligation to pay out dividends even for those firms that have traditionally given them. Without dividends an investor can make money on a stock only through its appreciation in the open market. On the downside, any stock may go bankrupt, in which case your investment is worth nothing.
Similarly, Securities and Exchange Commission (1999) like other forms of investments, there are risk/cost associated with investing in the capital market. There are also obligations on issuers of securities. The risk to investors includes possible unfavourable rate of return owing to depreciation in market value and/or nonpayment of dividends. It could also involve possible loss of investment should a company go burst.
Nature of capital market
At this point, it is important to recognise the nature of capital market. Sulaiman (1999) defines capital market as a network of interrelated institutions governed by operational guidelines which permit the sale of equity and long term debt
Elements of the capital market
There are three identifiable features of a capital market. These are: the instruments; the market place; and the participants.
a) Financial instruments
Financial instruments are the investment products, created to ensure the smooth and easy transfer of funds in the capital market. These instruments, generally known as securities are financial assets, which represent either debt or ownership. The instruments have various features depending on their type between the primary and secondary markets is the fact that proceeds of sale of primary securities go to the issuer (company or government) whereas in the secondary market, proceeds go to the investor.
b) The market place
Securities and Exchange Commission (1999) the capital market is divided into two separate but closely-related segments known as the primary and secondary markets. Primary Market a forum where new shares are offered to both existing shareholders and general public for purchase. Primary market offers can either be made directly by the company to increase its paid-up capital or through privatization of Government holdings, technically called divestment of government shares. On the other hand, Secondary Market is a market where existing shares are traded (sold and bought). Trading of shares at secondary market takes place on the floor of The Nigerian stock exchange. The Stockbrokers buy and sell shares on behalf of their respective clients. Essentially, the Stockbrokers are the dealing member firms licensed by both the Nigeria Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) to deal on shares and offer other services to the investing public. (Kofa, 2004, p.28).
c) Participants in the Market
Securities and Exchange Commission (1999) to facilitate the saving and investment process in any economy, financial intermediaries must exist and in good number. The financial intermediary is essentially a middleman who pools funds form savers and passes on such funds to those in need of them. An intermediary is a specialist) professional) in his line of business and thus, heavily relied upon by his clients to make good investment judgement on their behalf or provide professional advisory services to them. The capital market has a wide array of intermediaries performing various intermediation functions. They include:
i) Issuing Houses: These are institutions which assist corporate bodies and governments to raise long-term funds by packaging security issues for subscription on their behalf. The issuing house by this function plays a central role in the issuance process, and in industrial development. The issuing house as the principal agent of and adviser to the issuer has the responsibility of advising its clients on the most appropriate instrument and method of sourcing the required capital. It also has the responsibility of assembling and coordination all other specialists required in the issue process, ensuring that statutory and all other requirements are met, and that the issue is properly packaged and successfully concluded. Packaging would include pricing of the securities, preparation of the prospectus and other documents, as well as marketing and distribution of the securities.
ii) Stockbrokers/dealers: These are major players in the secondary market. Stockbrokers are the only persons permitted to transact business on the floor of a stock exchange or on the over-the-counter market. A stockbroker, therefore, stands between the seller and buyer of registered securities, making it possible for both parties to realize their desire to buy or sell securities. To act as an agent of the public or deal in his own account, a stockbroker/dealer must be registered by the statutory regulatory agency (Securities and Exchange Commission) and licensed by the stock exchange. As an agent of his client, the stockbroker is under obligations to transact business for him at the best price obtainable in the market.
iii) Investment Advisers: These are institutions/persons registered by the statutory regulatory agency to provide investment advisory services to their client for a fee. Investment advisory services are incidental to stock broking and issuing house business.
iv) Portfolio Managers: These are institutions registered by the statutory regulatory agency to manage the portfolio of clients. Portfolio management entails the receipt of funds, sometimes very large sums, to be invested by the portfolio manager. Most often, the choice of investments are left to the manger who however must send periodic investment statements, to his client. In exercising his discretion, the manager must at all times, consider the best interest of his clients. Both investments advisory and portfolio management services require extensive economic/market analyses to guide investment decisions and advice to clients.
v) Registrars: These are institutions employed by companies to keep comprehensive registers of their members (shareholders) and creditors. In addition, they arrange annual general and extra-ordinary meetings for their clients; distribute stock/share certificates, annual reports, dividend warrants and notices of shareholders' meetings. In cases of issue oversubscription, registrars dispatch surplus monies to subscribers.
vi) Trustees: These are important participants in debt issues and collective investment schemes such as unit trust. The trustee protects the interest of investors in debt instruments by monitoring and ensuring the fulfillment of the term of the trust deed.
vii) Receiving Agents: These are banks and stockbroking firms appointed by the issuing house to serve as centers for the distribution of offer applications forms, as well as for the receipt of subscriptions monies on behalf of the issuing house, for a fee.
viii) Receiving Bankers: These are banks designated by an issuer to receive proceeds of an issue on its behalf.
ix) Solicitors: These are law firms which either represent the issue or the issuer. In practice, two solicitors are required in a public issue of securities. These are the solicitor to the company (issuer) and the solicitor to the issue. The solicitor to the company among other things ensures that the memorandum and articles of association of the company are in consonance with legal requirements of a public company, and effect amendments where necessary. The solicitor would examine issue relating to the authorized capital, ensuring that it can accommodate the issue being proposed. Where a debenture stock is to be floated, the solicitor would make sure that the company has the borrowing power to do so. Generally, it is the duty of the solicitor to the company to ensure that the company complies with the provisions of the corporate law of the country (e.g. the Companies and Allied Matters Decree 1990 in Nigeria).
x) Auditors: These are the existing auditors of the company. In their capacity as the auditors, they provide historical perspective on the accounts of the company for inclusion in the prospectus.
xi) Reporting Accountants: These are firms of accountants which provide independent assessment of the accounts of the company. They review management forecast and examine the reasonableness or otherwise of such forecast. Based on their findings, the reporting accountants can recommend adjustments to the management forecast. They also prepare statement of indebtedness of the company, among other things.
Prerequisites to successful investing in stock
a) Selecting a Broker
According to Fischer and Jordan (2005) the investor's first step in establishing a satisfactory relationship with a broker is to choose a firm that is suitable for his needs and to select a representative of the firm with whom he can work. In practice separating the two choices is hard, for if one has chosen a satisfactory firm but is unhappy with the representative, it is embarrassing to shift one's account to another representative within the same firm. The brokerage firm should be a well-known and long-established institution. In selecting a firm an investor can ask for recommendations from his bank or from friends whose opinions he trusts.
b) Opening a Brokerage Account
This is an investment account, which is opened with the CSCS through a stockbroker. When this account is opened a client is issued with two numbers. The first number is called 'CSCS No.'. It is computer-generated numbers allocated to a new shareholder. It is unique to each stock-broking firm. Although a shareholder can have as many accounts as the number of stockbroking firms he uses. Furthermore, CSCS No is alphanumeric which is used if you have to fill in public offers if you desire shares allotted to you to be credited to your account.
Investors Account No. is numeric which is used internally on the floor for trading. In other word, investor's No. is the CHN represents the Clearing House Number assigned to every shareholder at the first point of entry into the CSCS system. He/She must have completed the CSCS -- R005 Shareholders Particulars Form. They are to provide the same CHN to all subsequent stockbroking firms they may have transactions with for ease of reference.
Other Prerequisites to successful investing in stock include opening a Bank Account, access to Post office Box (P. O. Box), access to Phone and active E-mail Address.
Process of acquiring shares
According to Nigerian Investments and Securities Law Report [NISLR] (2004) shares could be acquired by six (6) main modes;
1) Public offer;
2) Rights offer;
3) Bonus;
4) Nominal transfer; i.e. Transfer of share by way of gift.
5) Transmission from a dead relation or friends or collective investments or investments previously held under a corporate name for a beneficiary; and lastly
6) By purchase on the secondary market.
In general, a prospective investor who wishes to purchase shares on the secondary market is expected to approach a stockbroker such as Newdevco with a request to purchase or to invest in shares at a secondary market. In response, the stockbroker asks the prospective client which stock/shares he/she intends to purchase. Where the client has a selected stock in mind, the stockbroker executes the order according to the expressed need or interest of the client/customer. (Kofa, 2004).
Kofa (2004) added that in a situation where a client does not know which stock/share to buy, the stockbroker explains and advises the client accordingly in detail the shares to invest in. Consequently the stockbroker gives the client the necessary share transfer forms and Central Security Clearing System (CSCS) (particulars of shareholder) for completion. These documents are used to lodge the shares at Registrars Department of the company and also to open the new CSCS account for the client. The shares requested by client to be purchased are normally paid for by Bank Draft or physical clash to a stockbroker, who will in turn given an official receipt for the draft value or cash collected. Thereafter, the stockbroker purchases the shares as requested by client. Whenever the transactions are fully consummated, the stockbroker shall forward the CSCS statement of stock position to the client as evidence of ownership of such shares.
Benefits of Central Security Clearing System (CSCS)
Nigerian Stock Exchange (2008) states the benefits of CSCS to the operation of the Nigerian Stock Exchange as follows:
a) To Investors
Investors statements of stock position are issued every quarter free of charge or on demand for =N=100.00.
Use of stock position as collateral for loan facility after T + 3 settlement cycle i.e. 4 working days. In effect, a statement of stock position is obtainable from CSCS 4 days after transaction.
Investors can speculate more and take advantage of capital appreciation in their investment because of the T+3 settlement cycle.
Reduced risk of loss of certificates.
b) Quoted Companies
Huge cost associated with the production of share certificates for transaction through the secondary market has been significantly reduced.
Before CSCS, a single transaction on a certificate led to the cancellation of the certificate and the issuance of as many as ten (10) certificates depending on allotments made. This is no longer so since few shareholders request for certificates.
Indeed, of the 400,000 shareholders who use CSCS system now, only 2,200 shareholders have requested for certificates to date.
Amalgamation/consolidation of several accounts for a shareholder on the register leading to reduction of cost to the company.
c) Stockbroking Firms
Prompt Inter-member money and stock-settlement are assured.
The problems associated with delivery of shares are minimize
Increased efficiency and profit
Reduction in operational cost.
Disposal of Shares
According to Kofa (2004) a shareholder who wishes to dispose his/her shares is expected to go to a licensed stockbroker only. A Stockbroker is seen as the authorized agent approved by the government to deal in shares, especially in the purchase or sale of shares on behalf of an individual, group or company. The original hare certificates or CSCS statement will be tendered to a Stockbroker who will issue the relevant forms for completion by the shareholder and then forwarded to company Registrars for signature verification. That is, confirm the ownership of the shares in the case of share certificate. However, in the case of CSCS statement, the stockbroker verifies his client's signature. After the confirmation of signature, the share is taken to the floor of, say, the Nigerian Stock Exchange for appropriate disposal. After the disposal contract, a note shall be raised appropriately and the net proceeds is remitted to the shareholder after commissions and statutory charges are deducted as approved by the Nigerian Stock Exchange.
Recent Development in the Nigerian Capital Market
There are two recent developments in the Nigerian Capital Market. First, is the launching the e-dividend payment system which would subsequently solve the problem of unclaimed dividends by the Securities and Exchange Commission (SEC).
According to Olamijulo (2008) the e-dividends payment system refers to the payment of dividend due to shareholders through electronic means into the shareholders' nominated bank accounts. It implies same day clearance for dividend payment. He added that the system would enable shareholders receive their dividends on the same day, thereafter a confirmation letter of the dividend payment would be dispatched by the registrar. The e-dividend payment system would minimise cases of unclaimed dividends, eliminate dividend loss in transit, the forfeiture of dividends in the future and enhance the ability of shareholders to immediately access and utilize the proceeds of their investments.
Secondly, is the launching of e-allotment which will be fully operational from January 1, 2009. Ahmed, (2008) reported that the system is aimed at enabling the achievement of a certificate-less system in the Nigeria capital market.
E-allotment of shares as it is known is a process of direct credit of approved allotment on offers to the CSCS account of shareholders, as against the conventional issuance of share certificates. It is a process which will aid the achievement of certificateless transaction in the Nigerian capital market. (UBA Registrars, 2008)
The e-allotment is introduced as a result of postal services delays, and "the need to reduce costs in printing and dispatch of share certificates as well as to enable all investors in public offers speedily allotted shares."
Conclusions and Recommendations
It can be concluded that in Nigeria, the only obstacle to stock investment is the low level of investors' enlightenment on the benefits of the entire system, which has greatly affected the acceptance level negatively. Therefore, it is recommended that the regulatory agencies like the Nigerian Stock Exchange and Securities and Exchange Commission should continue to enlighten Nigerian especially, using major Nigerian languages on the gains of stock investment.
Wednesday, June 20, 2012
Advice On Seeking Asset Finance For Business Funding
There are many business out there wanting to grow, but who simply do not have the funds available to so. A lot of these businesses will often choose an asset finance scheme to help them generate necessary business funding. If you are one of those businesses looking to move forward in these difficult times, asset finance could be a suitable solution for you. Here are some simple guidelines you should follow in order to raise business funding through asset finance schemes.
One of the most important things is to make sure you exactly pinpoint what you need in order to take your business onto the next level. Will extra equipment at your premises help speed up production? Perhaps it would really help business if you had an extra couple of vehicles? In this process you really should arrive at an almost exact amount of money that you will require as business funding from an asset finance specialist. It is also crucial that your business will be able to afford to make the required monthly repayment installments on this amount of money.
Of course any asset finance provider will want to know why you are applying for business funding. Therefore it is also important that you can provide potential lenders with an up to date business plan. The business plan should show your current business situation and what strategies and objectives you have to take you forward. The business plan should illustrate how additional business funding to acquire additional machinery, vehicles etc. will help take your business forward.
Once you have done this you are in a good position to begin looking for suitable asset finance specialists. This can easily be done on the Internet where you will find many companies offering asset finance as a way to generate your business funding. You will discover, maybe to your surprise, that there are quite a number of asset finance companies. Make sure you have a good look at several of them online. Because there are a lot of companies offering asset finance you can be assured that they will be competing to win your custom. Therefore you will no doubt find some deal that suits you.
Looking deeper into each of the asset finance schemes on offer make sure to read through the various terms and conditions that apply. It is essential that you always compare the interest rates that will be used for this kind of business funding solution. It is crucial to also establish whether or not you will be able to commit yourself to the monthly repayment installments. Doing these checks in advance could help you both avoid repayment difficulties in the future and help you save money.
Your business will now hopefully be in a more informed position when dealing with an asset finance specialist. Perhaps a good place to look first of all is Bell Finance. Bell Finance are leading business funding specialists and offer comprehensive asset finance solutions to businesses across the UK. If you are looking for helpful advice on asset finance then Bell Finance will be more than happy to help. For more information on Bell Finance and how your company could benefit from business funding using an asset finance scheme visit them at bellfinance.co.uk.
One of the most important things is to make sure you exactly pinpoint what you need in order to take your business onto the next level. Will extra equipment at your premises help speed up production? Perhaps it would really help business if you had an extra couple of vehicles? In this process you really should arrive at an almost exact amount of money that you will require as business funding from an asset finance specialist. It is also crucial that your business will be able to afford to make the required monthly repayment installments on this amount of money.
Of course any asset finance provider will want to know why you are applying for business funding. Therefore it is also important that you can provide potential lenders with an up to date business plan. The business plan should show your current business situation and what strategies and objectives you have to take you forward. The business plan should illustrate how additional business funding to acquire additional machinery, vehicles etc. will help take your business forward.
Once you have done this you are in a good position to begin looking for suitable asset finance specialists. This can easily be done on the Internet where you will find many companies offering asset finance as a way to generate your business funding. You will discover, maybe to your surprise, that there are quite a number of asset finance companies. Make sure you have a good look at several of them online. Because there are a lot of companies offering asset finance you can be assured that they will be competing to win your custom. Therefore you will no doubt find some deal that suits you.
Looking deeper into each of the asset finance schemes on offer make sure to read through the various terms and conditions that apply. It is essential that you always compare the interest rates that will be used for this kind of business funding solution. It is crucial to also establish whether or not you will be able to commit yourself to the monthly repayment installments. Doing these checks in advance could help you both avoid repayment difficulties in the future and help you save money.
Your business will now hopefully be in a more informed position when dealing with an asset finance specialist. Perhaps a good place to look first of all is Bell Finance. Bell Finance are leading business funding specialists and offer comprehensive asset finance solutions to businesses across the UK. If you are looking for helpful advice on asset finance then Bell Finance will be more than happy to help. For more information on Bell Finance and how your company could benefit from business funding using an asset finance scheme visit them at bellfinance.co.uk.
Internet Piracy and Payday Loans
So you want the latest music release, but you've run out of credits on iTunes. It's on all of your friend's iPods, you know they got it illegally off the internet, and now you are tempted to do the same. Before rushing off into the seedy world of internet piracy, there are a few things you may want to know that could keep you from incurring costs that force you to the payday loan office.
There are many arguments out there for and against the ethics of illegal downloading. Some argue that it is blatant thievery, a complete disrespect for the law, and should be punished to the full extent. It is no surprise that most of these sentiments are vocalized by record company executives and musicians. These people generally claim that by downloading music illegally, internet users are stealing musician's hard work and taking away opportunities from up and coming talent. On the other hand, many argue that taking 99 cents from a multi-millionaire can hardly be seen as stealing, and that such arguments fail to understand that the majority of a band's money is made through concerts. Those who take this side tend to cast record executives as greedy capitalists who should be undermined for the greater good. Neither of these sides ever really focuses on the pragmatics of illegal downloading, which can be far more compelling of an argument.
Illegal downloading can save you money in the short term, as you can acquire movies, music etc. freely. However, should you get caught, be aware that the fines for illegal downloading are very high. A student in Boston was recently fined 5,000 for downloading and sharing thirty songs on the internet, and a woman in Minnesota was fined .9 million for illegally downloading 24 songs. We are likely to see more of these staggering fines imposed on illegal downloaders, as lawyers and executives are cracking down on the growing problem of internet piracy. The fees per song range from the relatively minor 0 to the major ,000. This is much more than any payday lender will advance you, so should you find yourself in this situation you may have to look elsewhere for help.
In addition to the legal costs of downloading pirated music and movies, you stand the very real chance of being stuck with computer costs as well. File sharing networks are notorious havens for computer viruses. These can range from the relatively benign to the entirely destructive. Even benign viruses can require a trip to the Geek Squad for those of us who are not experts in the field. A simple virus may be gone with a few clicks of a button, but more sophisticated ones will require you to reformat and reinstall your operating system or, even worse, require you to replace your computer completely. Although the latter situation is rare, it can and does happen. Thus, when confronted with the temptation to download music illegally off the internet, you need decide whether the immediate savings of 99 cents is worth the possibility of having to take out a cash advance to cover the costs of a new computer.
While several arguments abound for the ethics of internet piracy, the practical consequences can be much more compelling of a reason to keep away from such sites. Saving a couple dollars is just not worth the financial and legal trouble you could find yourself in.
There are many arguments out there for and against the ethics of illegal downloading. Some argue that it is blatant thievery, a complete disrespect for the law, and should be punished to the full extent. It is no surprise that most of these sentiments are vocalized by record company executives and musicians. These people generally claim that by downloading music illegally, internet users are stealing musician's hard work and taking away opportunities from up and coming talent. On the other hand, many argue that taking 99 cents from a multi-millionaire can hardly be seen as stealing, and that such arguments fail to understand that the majority of a band's money is made through concerts. Those who take this side tend to cast record executives as greedy capitalists who should be undermined for the greater good. Neither of these sides ever really focuses on the pragmatics of illegal downloading, which can be far more compelling of an argument.
Illegal downloading can save you money in the short term, as you can acquire movies, music etc. freely. However, should you get caught, be aware that the fines for illegal downloading are very high. A student in Boston was recently fined 5,000 for downloading and sharing thirty songs on the internet, and a woman in Minnesota was fined .9 million for illegally downloading 24 songs. We are likely to see more of these staggering fines imposed on illegal downloaders, as lawyers and executives are cracking down on the growing problem of internet piracy. The fees per song range from the relatively minor 0 to the major ,000. This is much more than any payday lender will advance you, so should you find yourself in this situation you may have to look elsewhere for help.
In addition to the legal costs of downloading pirated music and movies, you stand the very real chance of being stuck with computer costs as well. File sharing networks are notorious havens for computer viruses. These can range from the relatively benign to the entirely destructive. Even benign viruses can require a trip to the Geek Squad for those of us who are not experts in the field. A simple virus may be gone with a few clicks of a button, but more sophisticated ones will require you to reformat and reinstall your operating system or, even worse, require you to replace your computer completely. Although the latter situation is rare, it can and does happen. Thus, when confronted with the temptation to download music illegally off the internet, you need decide whether the immediate savings of 99 cents is worth the possibility of having to take out a cash advance to cover the costs of a new computer.
While several arguments abound for the ethics of internet piracy, the practical consequences can be much more compelling of a reason to keep away from such sites. Saving a couple dollars is just not worth the financial and legal trouble you could find yourself in.
Tuesday, June 19, 2012
Junior Uranium Companies
After the mega uranium merger between SXR Uranium One (SXR) and UrAsia (UUU), speculation has run rampant as to which uranium companies will next consolidate. With a soaring uranium price and lofty market caps, anything is possible. Or is it? Some of the more likely targets seem reluctant to sell out too soon.
On the heels of SXR Uranium One's announcement to acquire UrAsia Energy, one might conclude this could spawn the beginning of widespread consolidation in the uranium sector. In the early morning hours after the billion deal was announced, SXR Uranium One chief executive Neal Froneman emailed StockInterview writing, Our focus on the U.S. has not changed. In previous interviews, Mr. Froneman has kindly been transparent in his intentions to not only build up his uranium assets in the United States, but to pursue a senior stock exchange listing, presumably the New York Stock Exchange.
On Tuesday, the Financial Times (UK) reported that investors wanting high-quality exposure to the uranium bull market are basically limited to buying shares in Cameco Corp (CCJ). Froneman told the newspaper, The new Uranium One will provide an alternative to Cameco. He's right, but there are also two mid-size uranium producers Denison Mines and Paladin Resources with sufficient market capitalization to acquire one or more of the smaller uranium juniors. Widely respected Justin Reid, uranium analyst at Sprott Securities, told the Financial Times, for them to retain market share, they have to do something aggressively, and they have to do it now.
Justin Reid's recent thesis, 2007 Uranium Equities, is appropriately sub-titled, The Sector Moves Towards Production & Consolidation. His dual theme for uranium mining stocks in 2007 is consolidation and U.S. uranium miners offering a security of supply. Reid wrote in his February 14th report, We expect that the acquisition parade has just begun and will become a common theme in 2007. Moving forward we suggest that the U.S. will be a focus, as security of supply, aggressive development plans, and a large resource base waiting for exploitation should be attractive to companies looking for production visibility within a stable political climate.
As an aside, we phoned Justin Reid to congratulate him on his brilliant and comprehensive 120-page uranium mining report. We also wanted to thank him for joining the growing minority of analysts who view the numerous advanced uranium exploration companies, developing their U.S. assets, as one of the more promising and safer havens for investors the dominant theme in our articles over the past year. After all, the United States presently operates more than 23 percent of the world's nuclear reactors and annually consume about 55 million pounds U3O8. By contrast, U.S. uranium production has only recently risen to about three million pounds of mined uranium oxide. U.S. utilities need reassurance there will be security in future supply so this market remains the premier country for uranium mining production for at least the next decade.
Who's on the Menu?
On Thursday, TheInvestar website reported, it must be noted that our uranium index for Canada, as well as Australia, has closed at a record high for the past three days. The juniors are showing strength across the board as well as across continents. Investors have been phoning their favorite companies, since Monday, asking if the company is on SXR Uranium One's, or another's, radar. The record uranium price of US/pound has helped enhance the currency of not only the potential acquiring companies, but also those on their menu.
In a recent telephone survey with four potential and often-discussed takeover candidates, we found reluctance, not eagerness, was the common thread.
We are not for sale! Uranerz Energy (URZ) Dennis Higgs told us. His company recently acquired additional property in Wyoming's highly promising Powder River Basin. Higgs told us there has been strong interest in his company, but he's not taking any offers seriously at this time. Because of U.S. Securities and Exchange Commission (SEC) guidelines about resources, we are probably undercapitalized with regards to our peers. Because his company only trades in the U.S. market, it is not required to file a National Instrument 43-101 technical report on its uranium resources. Higgs also pointed to his company's management team one of the company's attractive qualities, and told us, If management doesn't bless the deal, it won't happen.
Uranerz continues to build value in the company as is the case with the other junior near-term producers we interviewed for this report. We asked Uranerz chief executive Glenn Catchpole why his company spent about 25 percent of the company's cash on the recent property acquisition. To which an otherwise poker-faced Catchpole responded, We spent .12 million for properties which may host about four million pounds of U3O8. Not a bad deal about .28/pound.
Another company which threw us for a loop is Strathmore Minerals (STHJF). While we believed the company would be acquired in 2006, based upon retaining National Bank Financial to help them evaluate and negotiate in the acquisition process, recent company developments suggest otherwise. Right now, we are doing a lot of work on our properties, Strathmore Minerals chief executive Dev Randhawa told us. We have begun to maximize our shareholder value by spinning off our assets and doing joint ventures. By joint venturing some of our assets and having partners, we are showing the market these properties have more value than the market has been giving those properties.
Randhawa told us the market has been giving some of the non-core assets zero value. It is something he appears to be in the process of remedying. Recent analyst ratings by Sprott Securities' Justin Reid (Speculative Buy, Target Price: C.70) and Raymond James' Bart Jaworski; Target Price: C.00) reflect the company's present strategy. In Reid's Wednesday report, he remarked that Strathmore broke out of a large trading base dating back to early 2006, targeting C.25/share.
Strathmore has about 20 uranium projects in three countries (U.S., Canada and Peru). And the company has been busy. Over the period of about two weeks, Strathmore announced its intention to form a joint venture with Yellowcake Mining (YCKM) on a Wyoming property, a proposal to spin off its Canadian mineral properties into a new exploration company, and an exclusivity agreement with Fortune Global 500 company to develop its Roca Honda (New Mexico) property and construct a uranium mill in the area.
It appears as a uranium company approaches near-term production, the company must also develop a stomach for responding to investor inquiries about takeover speculation. One chief executive weary of takeover rumors is UR-Energy's (URE) Bill Boberg. Potential opportunities have been discussed since early last year with a number of companies, he told us. There is nothing to be said at this time. Personally, we believe UR-Energy is too busy, as are the others mentioned here, moving their projects forward. In a recent audio interview with Boberg, he explained the step-by-step procedure his company has been taking in advancing through the permitting process so he can bring the Lost Creek and Lost Soldier properties (Wyoming) into production.
In other discussions we've had with Bill Boberg, we believe he is completely determined to become Wyoming's first uranium miner in the new uranium bull market. As with other companies mentioned here, he has strong faith and loyalty for his team. Mark this one as another company unlikely to sell out in the near future. Sprott's Reid wrote that UR-Energy remains in an uptrend and has been forming another base since November, targeting C/share.
One surprise was the emailed comments from the vice president for strategic initiatives at Energy Metals Corporation (EMU). Farhad Abasov wrote, Energy Metals has been aggressively building up its uranium property portfolio in the US via two-pronged growth strategy: organic, staking properties and corporate acquisitions. In the last 13 months Energy Metals completed the acquisition of 3 uranium companies in the US. Now we are gearing up for the first production in Texas in 2008. The company controls over 250,000 acres of land in the US. We will continue scanning the market for good and synergistic acquisition deals. At the same time we are open to opportunities on the other side of the M and A that will enhance our shareholders' value.
During a phone conversation, nearly a year ago with chairman Bill Sheriff, we asked him whether his company was open to be taken over. At the time, Energy Metals traded for about one-quarter of its present market price. Sheriff snorted in response, No way! Asked at what price he would consider an offer, he answered, At /share, maybe, but I doubt it. For now, Energy Metals is safely below C, but perhaps not much longer. Reid wrote that Energy Metals is making new all-time highs and that he foresees a potential toward the upper end of the stock's trading channel about C+ per share.
Conclusion
Thanks to the steady upward uranium price climb, now being heralded as likely to be one of a top-performing commodity in 2007 and with some analysts calling for US0 uranium per pound, the sector has attracted several hundred players and wanna-be players. The majority will vaporize as many industry experts quietly, and not so quietly, predict. As Justin Reid accurately points out, the uranium sector is fragmented. It is more fragmented in the United States than elsewhere, aside from Australia. In Namibia, the uranium rush forced the country to re-evaluate its issuance of exploration licenses. Lucky stars for Paladin Resources and front-runners in the horse race, such as Forsys Metals and UraMin.
Fragmentation will eventually lead to consolidation. Those with the currency of their market capitalization have the most confidence from their bankers. And the most clout to advance additional consolidation in this sector.
Ultimately, the game boils down to negotiations. In January, SXR Uranium One chief financial officer Jean Nortier had complained about the high price of uranium assets around the world. In the all-stock transaction to acquire UrAsia, both parties agreed the uranium price should continue rising. And as long as this remains the case, further acquisitions should be expected whether the targets are reluctant or not.
And the next very big deal will probably take place in the United States. Whether the acquirer would be SXR Uranium One or the alternatives in Paladin Resources (PDN) or Denison Mines (DML) is not known. Reid did make Denison his Top Pick, probably to the chagrin of uranium guru James Dines. Sprott Securities terminology for top pick is our best investment ideas, the greatest potential value appreciation. With this strong backing, Denison's currency might improve and provide them with more clout to build their uranium asset base through another acquisition.
Strathmore Mineral's Randhawa best summarized what makes U.S. uranium companies appealing, By acquiring U.S. uranium assets, those companies with foreign assets also get an insurance policy when they make a deal. Until then, the junior uranium companies continue to move their projects forward, and at some point, the time will be ripe. But not yet.
COPYRIGHT 2007 by StockInterview, Inc. ALL RIGHTS RESERVED
On the heels of SXR Uranium One's announcement to acquire UrAsia Energy, one might conclude this could spawn the beginning of widespread consolidation in the uranium sector. In the early morning hours after the billion deal was announced, SXR Uranium One chief executive Neal Froneman emailed StockInterview writing, Our focus on the U.S. has not changed. In previous interviews, Mr. Froneman has kindly been transparent in his intentions to not only build up his uranium assets in the United States, but to pursue a senior stock exchange listing, presumably the New York Stock Exchange.
On Tuesday, the Financial Times (UK) reported that investors wanting high-quality exposure to the uranium bull market are basically limited to buying shares in Cameco Corp (CCJ). Froneman told the newspaper, The new Uranium One will provide an alternative to Cameco. He's right, but there are also two mid-size uranium producers Denison Mines and Paladin Resources with sufficient market capitalization to acquire one or more of the smaller uranium juniors. Widely respected Justin Reid, uranium analyst at Sprott Securities, told the Financial Times, for them to retain market share, they have to do something aggressively, and they have to do it now.
Justin Reid's recent thesis, 2007 Uranium Equities, is appropriately sub-titled, The Sector Moves Towards Production & Consolidation. His dual theme for uranium mining stocks in 2007 is consolidation and U.S. uranium miners offering a security of supply. Reid wrote in his February 14th report, We expect that the acquisition parade has just begun and will become a common theme in 2007. Moving forward we suggest that the U.S. will be a focus, as security of supply, aggressive development plans, and a large resource base waiting for exploitation should be attractive to companies looking for production visibility within a stable political climate.
As an aside, we phoned Justin Reid to congratulate him on his brilliant and comprehensive 120-page uranium mining report. We also wanted to thank him for joining the growing minority of analysts who view the numerous advanced uranium exploration companies, developing their U.S. assets, as one of the more promising and safer havens for investors the dominant theme in our articles over the past year. After all, the United States presently operates more than 23 percent of the world's nuclear reactors and annually consume about 55 million pounds U3O8. By contrast, U.S. uranium production has only recently risen to about three million pounds of mined uranium oxide. U.S. utilities need reassurance there will be security in future supply so this market remains the premier country for uranium mining production for at least the next decade.
Who's on the Menu?
On Thursday, TheInvestar website reported, it must be noted that our uranium index for Canada, as well as Australia, has closed at a record high for the past three days. The juniors are showing strength across the board as well as across continents. Investors have been phoning their favorite companies, since Monday, asking if the company is on SXR Uranium One's, or another's, radar. The record uranium price of US/pound has helped enhance the currency of not only the potential acquiring companies, but also those on their menu.
In a recent telephone survey with four potential and often-discussed takeover candidates, we found reluctance, not eagerness, was the common thread.
We are not for sale! Uranerz Energy (URZ) Dennis Higgs told us. His company recently acquired additional property in Wyoming's highly promising Powder River Basin. Higgs told us there has been strong interest in his company, but he's not taking any offers seriously at this time. Because of U.S. Securities and Exchange Commission (SEC) guidelines about resources, we are probably undercapitalized with regards to our peers. Because his company only trades in the U.S. market, it is not required to file a National Instrument 43-101 technical report on its uranium resources. Higgs also pointed to his company's management team one of the company's attractive qualities, and told us, If management doesn't bless the deal, it won't happen.
Uranerz continues to build value in the company as is the case with the other junior near-term producers we interviewed for this report. We asked Uranerz chief executive Glenn Catchpole why his company spent about 25 percent of the company's cash on the recent property acquisition. To which an otherwise poker-faced Catchpole responded, We spent .12 million for properties which may host about four million pounds of U3O8. Not a bad deal about .28/pound.
Another company which threw us for a loop is Strathmore Minerals (STHJF). While we believed the company would be acquired in 2006, based upon retaining National Bank Financial to help them evaluate and negotiate in the acquisition process, recent company developments suggest otherwise. Right now, we are doing a lot of work on our properties, Strathmore Minerals chief executive Dev Randhawa told us. We have begun to maximize our shareholder value by spinning off our assets and doing joint ventures. By joint venturing some of our assets and having partners, we are showing the market these properties have more value than the market has been giving those properties.
Randhawa told us the market has been giving some of the non-core assets zero value. It is something he appears to be in the process of remedying. Recent analyst ratings by Sprott Securities' Justin Reid (Speculative Buy, Target Price: C.70) and Raymond James' Bart Jaworski; Target Price: C.00) reflect the company's present strategy. In Reid's Wednesday report, he remarked that Strathmore broke out of a large trading base dating back to early 2006, targeting C.25/share.
Strathmore has about 20 uranium projects in three countries (U.S., Canada and Peru). And the company has been busy. Over the period of about two weeks, Strathmore announced its intention to form a joint venture with Yellowcake Mining (YCKM) on a Wyoming property, a proposal to spin off its Canadian mineral properties into a new exploration company, and an exclusivity agreement with Fortune Global 500 company to develop its Roca Honda (New Mexico) property and construct a uranium mill in the area.
It appears as a uranium company approaches near-term production, the company must also develop a stomach for responding to investor inquiries about takeover speculation. One chief executive weary of takeover rumors is UR-Energy's (URE) Bill Boberg. Potential opportunities have been discussed since early last year with a number of companies, he told us. There is nothing to be said at this time. Personally, we believe UR-Energy is too busy, as are the others mentioned here, moving their projects forward. In a recent audio interview with Boberg, he explained the step-by-step procedure his company has been taking in advancing through the permitting process so he can bring the Lost Creek and Lost Soldier properties (Wyoming) into production.
In other discussions we've had with Bill Boberg, we believe he is completely determined to become Wyoming's first uranium miner in the new uranium bull market. As with other companies mentioned here, he has strong faith and loyalty for his team. Mark this one as another company unlikely to sell out in the near future. Sprott's Reid wrote that UR-Energy remains in an uptrend and has been forming another base since November, targeting C/share.
One surprise was the emailed comments from the vice president for strategic initiatives at Energy Metals Corporation (EMU). Farhad Abasov wrote, Energy Metals has been aggressively building up its uranium property portfolio in the US via two-pronged growth strategy: organic, staking properties and corporate acquisitions. In the last 13 months Energy Metals completed the acquisition of 3 uranium companies in the US. Now we are gearing up for the first production in Texas in 2008. The company controls over 250,000 acres of land in the US. We will continue scanning the market for good and synergistic acquisition deals. At the same time we are open to opportunities on the other side of the M and A that will enhance our shareholders' value.
During a phone conversation, nearly a year ago with chairman Bill Sheriff, we asked him whether his company was open to be taken over. At the time, Energy Metals traded for about one-quarter of its present market price. Sheriff snorted in response, No way! Asked at what price he would consider an offer, he answered, At /share, maybe, but I doubt it. For now, Energy Metals is safely below C, but perhaps not much longer. Reid wrote that Energy Metals is making new all-time highs and that he foresees a potential toward the upper end of the stock's trading channel about C+ per share.
Conclusion
Thanks to the steady upward uranium price climb, now being heralded as likely to be one of a top-performing commodity in 2007 and with some analysts calling for US0 uranium per pound, the sector has attracted several hundred players and wanna-be players. The majority will vaporize as many industry experts quietly, and not so quietly, predict. As Justin Reid accurately points out, the uranium sector is fragmented. It is more fragmented in the United States than elsewhere, aside from Australia. In Namibia, the uranium rush forced the country to re-evaluate its issuance of exploration licenses. Lucky stars for Paladin Resources and front-runners in the horse race, such as Forsys Metals and UraMin.
Fragmentation will eventually lead to consolidation. Those with the currency of their market capitalization have the most confidence from their bankers. And the most clout to advance additional consolidation in this sector.
Ultimately, the game boils down to negotiations. In January, SXR Uranium One chief financial officer Jean Nortier had complained about the high price of uranium assets around the world. In the all-stock transaction to acquire UrAsia, both parties agreed the uranium price should continue rising. And as long as this remains the case, further acquisitions should be expected whether the targets are reluctant or not.
And the next very big deal will probably take place in the United States. Whether the acquirer would be SXR Uranium One or the alternatives in Paladin Resources (PDN) or Denison Mines (DML) is not known. Reid did make Denison his Top Pick, probably to the chagrin of uranium guru James Dines. Sprott Securities terminology for top pick is our best investment ideas, the greatest potential value appreciation. With this strong backing, Denison's currency might improve and provide them with more clout to build their uranium asset base through another acquisition.
Strathmore Mineral's Randhawa best summarized what makes U.S. uranium companies appealing, By acquiring U.S. uranium assets, those companies with foreign assets also get an insurance policy when they make a deal. Until then, the junior uranium companies continue to move their projects forward, and at some point, the time will be ripe. But not yet.
COPYRIGHT 2007 by StockInterview, Inc. ALL RIGHTS RESERVED
Monday, June 18, 2012
Credit Repair: Before Or After?
We receive many questions regarding whether one should undertake credit repair actions or hire the services of a credit repair agency before or after consolidating debt. As usual, the answer to this question is not a simple one and will depend on many variables. Credit and debt problems change from one debtor to another and no general solution is available for all. However, there are some guidelines that can be followed in order to achieve positive results.
In order to understand what follows it is important to give a general idea of what debt consolidation and credit repair effects are. Both a debt consolidation and credit repair process have implications on each other and thus a correct combination of both in terms of time and opportunity can produce the best outcome and achieve the most advantageous results which is what everyone wants when undertaking such processes.
Debt Consolidation Effects
Debt consolidation produces several effects that can alter a credit repair process. For starters, depending on the strategy used, the amount of creditors may be reduced. If the process implies a debt consolidation loan which is used to repay all or the majority of the outstanding debt, then, all the creditors (or most of them) will be replaced by the new lender and thus, though some entries on your report may remain, from now on, you have a fresh start on your credit history.
If a debt consolidation loan is not the way to go, debt consolidation will imply only negotiations with current creditors to reduce debt and agree new repayment programs. Debt consolidation when it implies negotiation can also include the removal of negative entries on the credit report. In any case, the debt reduction alone will improve your credit score and history. However, certain debt consolidation agencies chose to default on several loans and lines of credit prior to negotiations in order to obtain better results and this implies new bad entries on your credit report.
Credit Repair Programs Effects
Credit repair programs have different effects depending on the stage of the program. At first, unfortunately, credit repair programs tend to make the applicant's credit score to drop to lower levels than the ones before joining the program. This is mainly due to the fact that credit repair programs often imply the interruption of payment of certain debts to make room for negotiations.
At a later stage, on the other hand, your credit score will continually increase as negative inputs on your credit report keep getting removed by creditors or by the mere pass of time. The interaction of credit repair programs and debt consolidation programs is not unpredictable. Moreover, there are agencies that provide both services.
The combined efforts of credit repair and debt consolidation can get you back to a good credit and financial stance in as little as two years. For some this may sound as a long time but let me assure that it is not. Investing two years time and efforts will result on a good credit score and access to all financial products available for those that never had bad credit. Thus, the answer to the question asked at the beginning of this article is simple: neither before or after, at the same time.
In order to understand what follows it is important to give a general idea of what debt consolidation and credit repair effects are. Both a debt consolidation and credit repair process have implications on each other and thus a correct combination of both in terms of time and opportunity can produce the best outcome and achieve the most advantageous results which is what everyone wants when undertaking such processes.
Debt Consolidation Effects
Debt consolidation produces several effects that can alter a credit repair process. For starters, depending on the strategy used, the amount of creditors may be reduced. If the process implies a debt consolidation loan which is used to repay all or the majority of the outstanding debt, then, all the creditors (or most of them) will be replaced by the new lender and thus, though some entries on your report may remain, from now on, you have a fresh start on your credit history.
If a debt consolidation loan is not the way to go, debt consolidation will imply only negotiations with current creditors to reduce debt and agree new repayment programs. Debt consolidation when it implies negotiation can also include the removal of negative entries on the credit report. In any case, the debt reduction alone will improve your credit score and history. However, certain debt consolidation agencies chose to default on several loans and lines of credit prior to negotiations in order to obtain better results and this implies new bad entries on your credit report.
Credit Repair Programs Effects
Credit repair programs have different effects depending on the stage of the program. At first, unfortunately, credit repair programs tend to make the applicant's credit score to drop to lower levels than the ones before joining the program. This is mainly due to the fact that credit repair programs often imply the interruption of payment of certain debts to make room for negotiations.
At a later stage, on the other hand, your credit score will continually increase as negative inputs on your credit report keep getting removed by creditors or by the mere pass of time. The interaction of credit repair programs and debt consolidation programs is not unpredictable. Moreover, there are agencies that provide both services.
The combined efforts of credit repair and debt consolidation can get you back to a good credit and financial stance in as little as two years. For some this may sound as a long time but let me assure that it is not. Investing two years time and efforts will result on a good credit score and access to all financial products available for those that never had bad credit. Thus, the answer to the question asked at the beginning of this article is simple: neither before or after, at the same time.
Sunday, June 17, 2012
Footwear Breathe Life Into Your Feet
As the winter months pass by and we start to look forward to better and warmer weather, our thoughts turn to the clothing and footwear we're going to be wearing when we can bear to take off our layers.
For feet that have been encased in winter boots, trainers and slippers for months, it's a positive relief to get into shoes that let the fresh air in. The transition from enclosed footwear to something a little lighter always takes a few weeks to get used to, but it's definitely something that both men and women look forward to as spring and summer approach.
New seasons bring new opportunities for designers and retailers, who compete to offer customers the very best in design, quality and affordability. At a time when most people are budgeting and watching expenditure, it's more important than ever that retailers choose footwear lines that attract customers' attention and persuade them to buy. As consumers, we're always looking for the perfect blend of style, colour, material and price, and when it comes to sandals and casual shoes, we also want a little fantasy and beach-bum style.
That's why classic styles like loafers, boat shoes, moccasins and espadrilles are perennially popular. Available in a range of colours and styles, these simple shoes offer amazing comfort and instantly transport you to warmer days and happier nights. Being able to wriggle your toes and give your feet some air is a great relief after months spent in thick socks and heavy shoes, so when you choose your summer footwear, you want to make sure that you get it right. Fortunately, with quality shoes available at great prices, you can invest in more than one pair of lightweight shoes to make sure your feet get the treat they need.
For girls, sandals, peep-toes, fretwork, mary-janes and other key styles mean that there's plenty of choice when it comes to airy footwear. But design is on the side of the guys too. Increasingly, the styles of summer shoes available for men means that they have a greater choice; from shoe-type sandals with plenty of space for the air to flow around your feet, to lightweight sandals and flip flops that are ideal for the beach.
If you're thinking about freeing your feet and giving them space to breathe, now's the time to check out the latest arrivals for the new season. Not only will you get in there nice and early so that you can be sporting the latest styles as soon as the temperature rises - you'll also be doing your feet a favour.
For feet that have been encased in winter boots, trainers and slippers for months, it's a positive relief to get into shoes that let the fresh air in. The transition from enclosed footwear to something a little lighter always takes a few weeks to get used to, but it's definitely something that both men and women look forward to as spring and summer approach.
New seasons bring new opportunities for designers and retailers, who compete to offer customers the very best in design, quality and affordability. At a time when most people are budgeting and watching expenditure, it's more important than ever that retailers choose footwear lines that attract customers' attention and persuade them to buy. As consumers, we're always looking for the perfect blend of style, colour, material and price, and when it comes to sandals and casual shoes, we also want a little fantasy and beach-bum style.
That's why classic styles like loafers, boat shoes, moccasins and espadrilles are perennially popular. Available in a range of colours and styles, these simple shoes offer amazing comfort and instantly transport you to warmer days and happier nights. Being able to wriggle your toes and give your feet some air is a great relief after months spent in thick socks and heavy shoes, so when you choose your summer footwear, you want to make sure that you get it right. Fortunately, with quality shoes available at great prices, you can invest in more than one pair of lightweight shoes to make sure your feet get the treat they need.
For girls, sandals, peep-toes, fretwork, mary-janes and other key styles mean that there's plenty of choice when it comes to airy footwear. But design is on the side of the guys too. Increasingly, the styles of summer shoes available for men means that they have a greater choice; from shoe-type sandals with plenty of space for the air to flow around your feet, to lightweight sandals and flip flops that are ideal for the beach.
If you're thinking about freeing your feet and giving them space to breathe, now's the time to check out the latest arrivals for the new season. Not only will you get in there nice and early so that you can be sporting the latest styles as soon as the temperature rises - you'll also be doing your feet a favour.
Friday, June 15, 2012
Stone Etching: The Timeless Art Of Richard Bulman
Stone has a timeless quality to it that many people find not only interesting, but compelling as well. Stone etching is an art form that puts shapes and figures into a surface that will last the ages. This combining of art with stone isn't anything new; cultures have been doing it for centuries. It is really as old as art itself. Whether it be ancient Greek sculptures, Byzantine relics, Chinese engravings, or Olmec figures, stone is the medium of choice for many societies around the globe. When canvas, wood, plastics, and other perishable materials have long since departed, the works in stone will likely remain.
The timelessness of stone etching is probably one of the biggest reasons artists are drawn to it. But there are other reasons as well. In a recent conversation with artist Richard Bulman, of Bellingham, Washington, I learned that he prefers to work in stone because of its natural and varied surface. The textures and shapes in each stone surface are unique. Once the stone "speaks" to him, he commits to the figure or picture he has in mind, (or the one that reveals itself to him), to the surface. By etching along a natural line in the stone, or by shading here and there, he draws an image out of the stone, often with striking results.
I suppose there is a comfort in working with stone material, rather than forcing one's will upon it. Taking this gentler, more subtle approach elevates stone etching into a true art form. Anyone can grab a chisel and start hacking away at a rock. Even computerized sand blasting equipment or water jets are employed to etch in stone. But there is something unique and special about taking the personal and hands-on approach that Bulman prefers.
Being able to connect with the stone and really look at it allows the artist to discover its unique beauties and potential. Bulman is not frustrated if a certain piece of stone doesn't reveal itself to him immediately. Instead, he is content to set it aside and come back to it another day. Eventually, the stone will reveal its secrets and a stone etching can commence.
Bulman works primarily in slate. This is a permanent surface for his stone etching, and one that he prefers. I was especially struck with the way he elevates the human form by tastefully depicting it in his art. This does credit to not only our common humanity, but to the sensitivity and passion of this particular artist. Our society has become very good at debasing and objectifying the human body. Rather than going that route, Bulman skillfully etches each figure with love and skill. You can tell from each etching he does, that he really cares about his work.
My particular favorite Bulman stone etching piece is Atlas 1. This shows the classic male figure supporting a large round world on his left shoulder. It is a depiction of idealized perfection that captures the essence of my own vanity I suppose. The impact that the strength and power of the figure itself portrays, is second only to the way Bulman brings out the detail, depth, lighting, and presence of the slate itself. It is impressive to say the least, and I am glad it will be around forever.
The timelessness of stone etching is probably one of the biggest reasons artists are drawn to it. But there are other reasons as well. In a recent conversation with artist Richard Bulman, of Bellingham, Washington, I learned that he prefers to work in stone because of its natural and varied surface. The textures and shapes in each stone surface are unique. Once the stone "speaks" to him, he commits to the figure or picture he has in mind, (or the one that reveals itself to him), to the surface. By etching along a natural line in the stone, or by shading here and there, he draws an image out of the stone, often with striking results.
I suppose there is a comfort in working with stone material, rather than forcing one's will upon it. Taking this gentler, more subtle approach elevates stone etching into a true art form. Anyone can grab a chisel and start hacking away at a rock. Even computerized sand blasting equipment or water jets are employed to etch in stone. But there is something unique and special about taking the personal and hands-on approach that Bulman prefers.
Being able to connect with the stone and really look at it allows the artist to discover its unique beauties and potential. Bulman is not frustrated if a certain piece of stone doesn't reveal itself to him immediately. Instead, he is content to set it aside and come back to it another day. Eventually, the stone will reveal its secrets and a stone etching can commence.
Bulman works primarily in slate. This is a permanent surface for his stone etching, and one that he prefers. I was especially struck with the way he elevates the human form by tastefully depicting it in his art. This does credit to not only our common humanity, but to the sensitivity and passion of this particular artist. Our society has become very good at debasing and objectifying the human body. Rather than going that route, Bulman skillfully etches each figure with love and skill. You can tell from each etching he does, that he really cares about his work.
My particular favorite Bulman stone etching piece is Atlas 1. This shows the classic male figure supporting a large round world on his left shoulder. It is a depiction of idealized perfection that captures the essence of my own vanity I suppose. The impact that the strength and power of the figure itself portrays, is second only to the way Bulman brings out the detail, depth, lighting, and presence of the slate itself. It is impressive to say the least, and I am glad it will be around forever.
Thursday, June 14, 2012
Is Xowii Energy A Scam? An Unbiased Review Of The Xowii Business Opportunity
First off let me start by saying I have absolutely no association with XOWii or its opportunity. This review isn't going to praise each aspect of the company with the sole intent of recruiting you into XOWii.
XOWii is currently the defendant in a court case that was brought against them from Network Marketing Superpower MonaVie. MonaVie is accusing XOWii of trying to recruit their network of distributors by spreading false information regarding their products and compensation plan. I'm not an attorney and don't feel like reading from beginning to end pages of legal documents so I'm not going to remark on this situation.
The Company: XOWii is headquartered in Newport Beach, California and officially launched on October 4th, 2009. They enter the very competitive healthy energy drink marketplace and currently offer two products through its network of distributors. XOWii Energy and XOWii Thin.
So is XOWii a scam? To be classified as a scam the company would have to be involved in practices that attempted to cheat someone out of their money with deceitful or misleading acts. With that being said, XOWii is a 100% legitimate business working in and licenced by the state of California.
XOWii's Leadership Team: CEO and C0-Founder Richard Kelly has more than 15 years of experience in a broad range of investment opportunities within the banking and real estate industries.
President and Co-Founder James Christiansen has greater than 10 years of experience also in the real estate and banking industries. He was also a top earner with MonaVie for just over two years from 2006 to 2008.
The remainder of the management team also has extensive experience in banking and finance. What puzzles me somewhat is when reading their bios there is a noticeable exclusion of this teams former experiences in management or operations in the Network Marketing industry. With any company you contemplate joining you should assume to see a lengthy list of past achievements inside Network Marketing but regrettably other than James Christiansen it's just not there.
XOWii Business Opportunity Review: When taking into consideration any business opportunity, it's very important that you take into great consideration the market that you'll be entering. There are currently over 2000 Network Marketing companies alone competing in the health and wellness industry with a significant number capitalizing on the modern energy drink fad. As we all recognize, fads come and go. How long will the energy drink craze last? Nobody knows. Will XOWii boost its product line and venture into new markets? Only time will tell.
From a marketing perspective I have a difficult time seeing a distinctive marketing proposition with the XOWii opportunity. Besides having a product line that in my opinion will be hard to market in the congested energy drink arena, on the surface the compensation plan seems as if it falls into the industry standard Binary program. I don't see anything that really sets this compensation plan apart and will grab the interest of experienced marketers.
My harshest analysis has nothing to do with products or compensation but rather is regarding their main website and what may be the most obnoxious presentation video that I've ever come across. The repeating bad music made me want to hit the back button and in no way come back. As a distributor, I wouldn't feel comfortable sending any prospects here and with a bit of luck they will adjust it shortly.
XOWii Marketing Training: Other than long-established Network Marketing prospecting methods I regrettably couldn't locate any official company lead generation marketing system. I did on the other hand come across a group of strong leaders within XOWii that has taken the initiative to provide their team with a lead system and training. If they aren't already, this group will more than likely become the leading and most profitable within XOWii and attain colossal MLM success.
Suggestion: I'm not putting my stamp of approval on the XOWii opportunity nor am I saying stay away. This company has gained early momentum but it's just way too early to forecast their long term sustainability so proceed with caution. The lack of a unique marketing proposition or lead generation system will make those that do join to find a way to market successfully and position themselves in the incredibly competitive juice and energy drink market.
XOWii is currently the defendant in a court case that was brought against them from Network Marketing Superpower MonaVie. MonaVie is accusing XOWii of trying to recruit their network of distributors by spreading false information regarding their products and compensation plan. I'm not an attorney and don't feel like reading from beginning to end pages of legal documents so I'm not going to remark on this situation.
The Company: XOWii is headquartered in Newport Beach, California and officially launched on October 4th, 2009. They enter the very competitive healthy energy drink marketplace and currently offer two products through its network of distributors. XOWii Energy and XOWii Thin.
So is XOWii a scam? To be classified as a scam the company would have to be involved in practices that attempted to cheat someone out of their money with deceitful or misleading acts. With that being said, XOWii is a 100% legitimate business working in and licenced by the state of California.
XOWii's Leadership Team: CEO and C0-Founder Richard Kelly has more than 15 years of experience in a broad range of investment opportunities within the banking and real estate industries.
President and Co-Founder James Christiansen has greater than 10 years of experience also in the real estate and banking industries. He was also a top earner with MonaVie for just over two years from 2006 to 2008.
The remainder of the management team also has extensive experience in banking and finance. What puzzles me somewhat is when reading their bios there is a noticeable exclusion of this teams former experiences in management or operations in the Network Marketing industry. With any company you contemplate joining you should assume to see a lengthy list of past achievements inside Network Marketing but regrettably other than James Christiansen it's just not there.
XOWii Business Opportunity Review: When taking into consideration any business opportunity, it's very important that you take into great consideration the market that you'll be entering. There are currently over 2000 Network Marketing companies alone competing in the health and wellness industry with a significant number capitalizing on the modern energy drink fad. As we all recognize, fads come and go. How long will the energy drink craze last? Nobody knows. Will XOWii boost its product line and venture into new markets? Only time will tell.
From a marketing perspective I have a difficult time seeing a distinctive marketing proposition with the XOWii opportunity. Besides having a product line that in my opinion will be hard to market in the congested energy drink arena, on the surface the compensation plan seems as if it falls into the industry standard Binary program. I don't see anything that really sets this compensation plan apart and will grab the interest of experienced marketers.
My harshest analysis has nothing to do with products or compensation but rather is regarding their main website and what may be the most obnoxious presentation video that I've ever come across. The repeating bad music made me want to hit the back button and in no way come back. As a distributor, I wouldn't feel comfortable sending any prospects here and with a bit of luck they will adjust it shortly.
XOWii Marketing Training: Other than long-established Network Marketing prospecting methods I regrettably couldn't locate any official company lead generation marketing system. I did on the other hand come across a group of strong leaders within XOWii that has taken the initiative to provide their team with a lead system and training. If they aren't already, this group will more than likely become the leading and most profitable within XOWii and attain colossal MLM success.
Suggestion: I'm not putting my stamp of approval on the XOWii opportunity nor am I saying stay away. This company has gained early momentum but it's just way too early to forecast their long term sustainability so proceed with caution. The lack of a unique marketing proposition or lead generation system will make those that do join to find a way to market successfully and position themselves in the incredibly competitive juice and energy drink market.
Wednesday, June 13, 2012
Bin Checker- A Useful Tool To Check Bank Identification Number
BIN or Bank Identification Number is 6-digit number of a credit or debit card that is used find out the name of the bank, which has issued a particular card. The first 6 digits of a credit, debit, gift or prepaid card constitute the BIN of the card. The number facilitates or validates any transaction, which you are going to make with that particular card.
BIN is used as a tool to identify the card and the issuer of the card in order to detect fraudulent transactions made through these cards. BIN of a particular card is authorized by comparing with an authentic database of thousands of Bank Identification Numbers. Using BIN and comparing it with accurate BIN database can easily detect credit cards frauds. However, the reliability of the process depends upon a few factors such as accuracy of the database, ease of use and number of records maintained in the BIN checker database.
BIN checker is a tool that is designed to check and scan BIN database easily. With the help of BIN checker, you can search BIN database for authentication of Master Card, Visa Card, Fuel Cards, China Union Pay and gift cards such as Diners Club, SOLO, Laser and JCB. There are a number of bin checker websites over the Internet that are offering you to check BIN online. Many websites offer bin checker online free demo or bin checker free trial where you can check about ten BINS absolutely free.
BIN checker is such a tool that not only allows you to check the type of the card, but also helps you to identify the brand of the credit. With the help of bin checker free software, you can find that if the card you are checking is a credit card, debit card or a gift card. BIN check software also allows you to find out the level of a particular card such as whether the card in question is an Electron card, Gold card or Silver card.
In order to verify or authenticate a particular BIN, you need to enter the 6-digit number in a BIN checker. The bin checker card system works with complete software. The software will compare the BIN with bin checker database to find out that the BIN in question is listed in the bin checker list or not. If BIN checker finds the BIN in its database, it means the card is authentic and genuine.
In order to use BIN checker in an appropriate manner, you can see bin checker demo on the number of websites offering bin checker online free. A number of websites also offer bin checker download and bin checker free tools to update your bin checker free download version. Competent BIN checker databases contain almost 100,000+ records and you can use bin checker for American express, bin checker for master card, bin checker for amex as the database contains the records of almost all popular card issuers. Download or use such a bin number checker tool that updates on daily bases in order to have latest data to verify different cards.
BIN is used as a tool to identify the card and the issuer of the card in order to detect fraudulent transactions made through these cards. BIN of a particular card is authorized by comparing with an authentic database of thousands of Bank Identification Numbers. Using BIN and comparing it with accurate BIN database can easily detect credit cards frauds. However, the reliability of the process depends upon a few factors such as accuracy of the database, ease of use and number of records maintained in the BIN checker database.
BIN checker is a tool that is designed to check and scan BIN database easily. With the help of BIN checker, you can search BIN database for authentication of Master Card, Visa Card, Fuel Cards, China Union Pay and gift cards such as Diners Club, SOLO, Laser and JCB. There are a number of bin checker websites over the Internet that are offering you to check BIN online. Many websites offer bin checker online free demo or bin checker free trial where you can check about ten BINS absolutely free.
BIN checker is such a tool that not only allows you to check the type of the card, but also helps you to identify the brand of the credit. With the help of bin checker free software, you can find that if the card you are checking is a credit card, debit card or a gift card. BIN check software also allows you to find out the level of a particular card such as whether the card in question is an Electron card, Gold card or Silver card.
In order to verify or authenticate a particular BIN, you need to enter the 6-digit number in a BIN checker. The bin checker card system works with complete software. The software will compare the BIN with bin checker database to find out that the BIN in question is listed in the bin checker list or not. If BIN checker finds the BIN in its database, it means the card is authentic and genuine.
In order to use BIN checker in an appropriate manner, you can see bin checker demo on the number of websites offering bin checker online free. A number of websites also offer bin checker download and bin checker free tools to update your bin checker free download version. Competent BIN checker databases contain almost 100,000+ records and you can use bin checker for American express, bin checker for master card, bin checker for amex as the database contains the records of almost all popular card issuers. Download or use such a bin number checker tool that updates on daily bases in order to have latest data to verify different cards.
Monday, June 11, 2012
Best Locations In Bangalore To Buy Residential Property
When you think of buying a residential property in Bangalore, the choices are many, ranging from simple one room house to independent villas. But, choosing a location can be quite a cumbersome task, as you have to choose a property that suits your needs and your pocket too. The price of a property depends on the type of the property and the location. You will need a bigger pocket if you are eyeing the central areas that are well connected and located in the heart of the city. Or, if you are satisfied staying in some interior part of the city, you don't need to worry much about the expenses.
The most popular areas like Brigade Road, M.G. Road, and Cunningham Street etc. are mostly known for their commercial importance and it's a mammoth task finding a house in these areas. Apart from that, there are some residential areas as well, that may not be as pocket-friendly as you want your desired locality to be. For example, Sadashiv Nagar, Whitefield(Villas), Off Cunningham Road, Off Palace Road etc that are known to be the abode of the affluent.
Following is a list of stylish, well-planned residential areas in Bangalore that are well connected and yet, are average budget localities:
Indira Nagar-Located within a diameter of few kilometers from Domlur airport, the area is well connected to rest of the city. It can boast of several renowned hospitals and educational institutions as well. There are a number of shopping options in addition to nearby pubs, bars, restaurants, gyms etc. The area can be classified as an average budget area.The average price and rent for apartments in this area is Rs.4736/sqft and Rs. 16/sqft respectively. The price for residential plots, on an average is Rs. 8935/sqft.
Koramangala-Reputed firms and business houses, renowned educational institutions, St. John's Hospital and a number of shopping centers and malls, this area is surely a very good option to settle down. Criss-crossed by many roads and near to Indira nagar, the area doesn't seem to be facing any sort of connectivity issue.The average price and rent for apartments in this area is Rs.4614/sqft and Rs. 18/sqft respectively. The price for residential plots, on an average is Rs. 6570/sqft.
Banshankari- A medium budget locality at about 15 Km from railway station and 25 Km from the airport, the major connecting road is the 100 feet ring road. There are a number of new projects developed recently or under development in the area.The average price and rent for apartments in this area is Rs.4232/sqft and Rs. 9/sqft respectively. The price for residential plots, on an average is Rs. 3693/sqft.
Jayanagar- Lying close to Banshankari, Jayanagar is a well developed residential area with a cosmopolitan setup. There are a number of shopping complexes, educational institutions and some of the most famous food joints, e.g. Mughal Darbar, Taj Darbar, Blue lagoon etc., in the area.The average price and rent for apartments in this area is Rs.4974/sqft and Rs. 15/sqft respectively. The price for residential plots, on an average is Rs. 10167/sqft.
Malleshwaram-It is one of the greenest localities of the Garden City. The place is naturally beautiful with the lush greenery all around.The average price and rent for apartments in this area is Rs.5223/sqft and Rs. 16/sqft respectively. The price for residential plots, on an average is Rs. 8312/sqft.
Marthahalli- Close to Whitefield and Sarjapur, the area is well connected and offers lots of new projects as well, to choose from. It is again a medium budget locality.The average price and rent for apartments in this area is Rs.2617/sqft and Rs. 12/sqft respectively. The price for residential plots, on an average is Rs. 2863/sqft.
BTM Layout-Located in the southern Bangalore, the area houses the IIM. It is a well planned residential colony with developed road system and separate market place.The average price and rent for apartments in this area is Rs.3174/sqft and Rs. 12/sqft respectively. The price for residential plots, on an average is Rs. 5110/sqft.
Madiwala- An area for small budget home seekers, Madivala is one of the most crowded areas of Bangalore. Though the interiors of the locality are not comparable to those lying in the vicinity, it is nearby to BTM, Koramangla, and HSR Layout areas.The average price and rent for apartments in this area is Rs.2785/sqft and Rs. 12/sqft respectively.
HSR Layout- The area is well connected to Whitefield, Marthahalli, and Electronic City, where most the offices are located. Well connected to the city and better infrastructure makes it dearer. You can find any number of medium budget houses in this locality.The average price and rent for apartments in this area is Rs.3351/sqft and Rs. 12/sqft respectively. The price for residential plots, on an average is Rs. 4402/sqft.
K R Puram- Krishna raja Puram or K.R Puram is well connected to the city. You can find hundreds of flats in this area, depending on your needs and budget.The average price and rent for apartments in this area is Rs.1796/sqft and Rs. 10/sqft respectively. The price for residential plots, on an average is Rs. 1151/sqft.
The most popular areas like Brigade Road, M.G. Road, and Cunningham Street etc. are mostly known for their commercial importance and it's a mammoth task finding a house in these areas. Apart from that, there are some residential areas as well, that may not be as pocket-friendly as you want your desired locality to be. For example, Sadashiv Nagar, Whitefield(Villas), Off Cunningham Road, Off Palace Road etc that are known to be the abode of the affluent.
Following is a list of stylish, well-planned residential areas in Bangalore that are well connected and yet, are average budget localities:
Indira Nagar-Located within a diameter of few kilometers from Domlur airport, the area is well connected to rest of the city. It can boast of several renowned hospitals and educational institutions as well. There are a number of shopping options in addition to nearby pubs, bars, restaurants, gyms etc. The area can be classified as an average budget area.The average price and rent for apartments in this area is Rs.4736/sqft and Rs. 16/sqft respectively. The price for residential plots, on an average is Rs. 8935/sqft.
Koramangala-Reputed firms and business houses, renowned educational institutions, St. John's Hospital and a number of shopping centers and malls, this area is surely a very good option to settle down. Criss-crossed by many roads and near to Indira nagar, the area doesn't seem to be facing any sort of connectivity issue.The average price and rent for apartments in this area is Rs.4614/sqft and Rs. 18/sqft respectively. The price for residential plots, on an average is Rs. 6570/sqft.
Banshankari- A medium budget locality at about 15 Km from railway station and 25 Km from the airport, the major connecting road is the 100 feet ring road. There are a number of new projects developed recently or under development in the area.The average price and rent for apartments in this area is Rs.4232/sqft and Rs. 9/sqft respectively. The price for residential plots, on an average is Rs. 3693/sqft.
Jayanagar- Lying close to Banshankari, Jayanagar is a well developed residential area with a cosmopolitan setup. There are a number of shopping complexes, educational institutions and some of the most famous food joints, e.g. Mughal Darbar, Taj Darbar, Blue lagoon etc., in the area.The average price and rent for apartments in this area is Rs.4974/sqft and Rs. 15/sqft respectively. The price for residential plots, on an average is Rs. 10167/sqft.
Malleshwaram-It is one of the greenest localities of the Garden City. The place is naturally beautiful with the lush greenery all around.The average price and rent for apartments in this area is Rs.5223/sqft and Rs. 16/sqft respectively. The price for residential plots, on an average is Rs. 8312/sqft.
Marthahalli- Close to Whitefield and Sarjapur, the area is well connected and offers lots of new projects as well, to choose from. It is again a medium budget locality.The average price and rent for apartments in this area is Rs.2617/sqft and Rs. 12/sqft respectively. The price for residential plots, on an average is Rs. 2863/sqft.
BTM Layout-Located in the southern Bangalore, the area houses the IIM. It is a well planned residential colony with developed road system and separate market place.The average price and rent for apartments in this area is Rs.3174/sqft and Rs. 12/sqft respectively. The price for residential plots, on an average is Rs. 5110/sqft.
Madiwala- An area for small budget home seekers, Madivala is one of the most crowded areas of Bangalore. Though the interiors of the locality are not comparable to those lying in the vicinity, it is nearby to BTM, Koramangla, and HSR Layout areas.The average price and rent for apartments in this area is Rs.2785/sqft and Rs. 12/sqft respectively.
HSR Layout- The area is well connected to Whitefield, Marthahalli, and Electronic City, where most the offices are located. Well connected to the city and better infrastructure makes it dearer. You can find any number of medium budget houses in this locality.The average price and rent for apartments in this area is Rs.3351/sqft and Rs. 12/sqft respectively. The price for residential plots, on an average is Rs. 4402/sqft.
K R Puram- Krishna raja Puram or K.R Puram is well connected to the city. You can find hundreds of flats in this area, depending on your needs and budget.The average price and rent for apartments in this area is Rs.1796/sqft and Rs. 10/sqft respectively. The price for residential plots, on an average is Rs. 1151/sqft.
Saturday, June 9, 2012
How Long Does Foreclosure Take?
In Foreclosure
Power of Sale Foreclosure vs. Judicial Foreclosure, how fast can the bank foreclose?
First of all, most lenders will not begin foreclosure proceedings until a borrower is 3-6 months behind on their payments. Although missing a single payment is a default under the terms of most loan documents, lenders have neither the time nor the desire to foreclose on borrowers who have missed one payment. The process will be initiated when it becomes clear that the debt can no longer be serviced. This post deals with the timing of a foreclosure once your lender has started the process and has instituted a foreclosure action against your property.
The speed with which a bank can foreclose on a borrower varies based on state law. There are basically two different types of jurisdictions for foreclosure purposes: power of sale jurisdictions and judicial foreclosure jurisdictions. In over half the states, the prevailing method of foreclosure is non-judicial power of sale foreclosure. What does this mean? If you have entered into a deed of trust with your mortgage lender, your deed is held by a Trustee pending full payment of your note. In the event you fail to make your mortgage payments the trustee has authority to sell your home at auction. Power of sale foreclosure can occur much more quickly than judicial foreclosure because the trustee vested with the power of sale does not need court oversight to sell the property. The trustee will give Notice of a public foreclosure sale and then sell the distressed property to the highest bidder. A court will usually not oversee the process. If a default has occurred the trustee is permitted to go through with the
foreclosure sale after a relatively short notice period (usually two to three months from the date foreclosure proceedings are instituted). If you live in a power of sale Jurisdiction, your mortgage lender can complete the foreclosure process in two to three months. Today, 29 states (Alabama, Alaska, Arizona, California, Colorado, the District of Columbia, Georgia, Hawaii, Idaho, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming) allow foreclosure by the power of sale
Judicial foreclosure is available in every state and is the required method of foreclosure in many states. Judicial foreclosure jurisdictions require a court to oversee the foreclosure process. Like power of sale jurisdictions, all interested parties must receive notice of the foreclosure sale. Judicial foreclosure proceedings can take a year or more to be completed . The requirement that the lender foreclose through the court system slows down the process considerably. While either method of foreclosure can be successfully challenged by an attorney, the court oversight of judicial foreclosure allows more procedural leverage to slow down aggressive lenders.
It is important for consumers to understand that they have rights in the fight against foreclosure. Power of sale jurisdictions allow for your property to be sold outside of court supervision but they still require you receive adequate notice of the sale and that your property be sold for a reasonable price. Hiring an experienced foreclosure defense attorney in a judicial foreclosure jurisdiction could buy you months while you fight back against the bank. Bankruptcy, although a last resort, will stop a foreclosure dead in its tracks due the Automatic Stay that freezes all creditor collection actions the minute a case is filed. I have filed many bankruptcy cases for clients the night before their home was scheduled to be sold at auction and had the process stopped. Chapter 13 bankruptcy may allow you to stay in your home while getting caught up on mortgage arrearages that have spiraled out of control. You have options and there is help available, but remember if you are in a power of sale jurisdiction and have
executed a deed of trust with your lender, the foreclosure process can be completed in a matter of months.
Power of Sale Foreclosure vs. Judicial Foreclosure, how fast can the bank foreclose?
First of all, most lenders will not begin foreclosure proceedings until a borrower is 3-6 months behind on their payments. Although missing a single payment is a default under the terms of most loan documents, lenders have neither the time nor the desire to foreclose on borrowers who have missed one payment. The process will be initiated when it becomes clear that the debt can no longer be serviced. This post deals with the timing of a foreclosure once your lender has started the process and has instituted a foreclosure action against your property.
The speed with which a bank can foreclose on a borrower varies based on state law. There are basically two different types of jurisdictions for foreclosure purposes: power of sale jurisdictions and judicial foreclosure jurisdictions. In over half the states, the prevailing method of foreclosure is non-judicial power of sale foreclosure. What does this mean? If you have entered into a deed of trust with your mortgage lender, your deed is held by a Trustee pending full payment of your note. In the event you fail to make your mortgage payments the trustee has authority to sell your home at auction. Power of sale foreclosure can occur much more quickly than judicial foreclosure because the trustee vested with the power of sale does not need court oversight to sell the property. The trustee will give Notice of a public foreclosure sale and then sell the distressed property to the highest bidder. A court will usually not oversee the process. If a default has occurred the trustee is permitted to go through with the
foreclosure sale after a relatively short notice period (usually two to three months from the date foreclosure proceedings are instituted). If you live in a power of sale Jurisdiction, your mortgage lender can complete the foreclosure process in two to three months. Today, 29 states (Alabama, Alaska, Arizona, California, Colorado, the District of Columbia, Georgia, Hawaii, Idaho, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming) allow foreclosure by the power of sale
Judicial foreclosure is available in every state and is the required method of foreclosure in many states. Judicial foreclosure jurisdictions require a court to oversee the foreclosure process. Like power of sale jurisdictions, all interested parties must receive notice of the foreclosure sale. Judicial foreclosure proceedings can take a year or more to be completed . The requirement that the lender foreclose through the court system slows down the process considerably. While either method of foreclosure can be successfully challenged by an attorney, the court oversight of judicial foreclosure allows more procedural leverage to slow down aggressive lenders.
It is important for consumers to understand that they have rights in the fight against foreclosure. Power of sale jurisdictions allow for your property to be sold outside of court supervision but they still require you receive adequate notice of the sale and that your property be sold for a reasonable price. Hiring an experienced foreclosure defense attorney in a judicial foreclosure jurisdiction could buy you months while you fight back against the bank. Bankruptcy, although a last resort, will stop a foreclosure dead in its tracks due the Automatic Stay that freezes all creditor collection actions the minute a case is filed. I have filed many bankruptcy cases for clients the night before their home was scheduled to be sold at auction and had the process stopped. Chapter 13 bankruptcy may allow you to stay in your home while getting caught up on mortgage arrearages that have spiraled out of control. You have options and there is help available, but remember if you are in a power of sale jurisdiction and have
executed a deed of trust with your lender, the foreclosure process can be completed in a matter of months.
Cheap Vans and Finance Deals
You may be looking for a van for your business, but may not have the finance to buy it outright. It can be costly, and particularly difficult if you are just starting up your own business. Luckily though, there are lots of cheap vans you can lease on finance deals, so you will not need to be out of pocket. Some of the best deals on cheap vans are detailed below:
1 Fiat Fiorino Cargo These cheap vans are ideal vehicles for any business, or for personal use. They are relatively compact, and offer many exciting features, including a side loading door for ease of removal and loading of goods, remote central locking, electric windows and mirrors and a protective ladder bulkhead. You can lease these cheap vans for as little as 139 per calendar month.
1 Nissan NV200 Voted 'Van of the Year 2010' by What Van?, these vehicles will easily cater for all your business needs. With many features on offer, including twin side loading doors and low level loading floor, to enable you to remove and load your goods with minimal effort, ABS and CD/MP3 player. The driver's air bag will provide you with additional protection and peace of mind, and the folding passenger seat will give you some
more room in the vehicle. These cheap vans can be leased on a financial plan of 149 per month.
1 Ford Transit SWB These are popular cheap vans, which are perfect for handling all your business needs. The standard features of these vans includes electric windows,remote central locking, immobiliser and side locking door. The Ford Transit on a financial plan, will cost you around 179 per month.
1 Vauxhall Astravan Sportive A sleek and stylish model, this vehicle offers many exciting benefits to drivers. Not only are they cheap vans, they are compact and sporty, so you will be able to impress your clients, if you use them for business purposes. Some of the features of these vans, include dark-tinted rear window, for added privacy in your vehicle. You can also enjoy the benefits of electric windows, door handles and side mouldings, and air conditioning. A finance plan will allow you to lease these cheap vans for
as little as 189 per month.
1 Peugeot Boxer Range Large size cheap vans which will enable you to transport a high number of goods, whether for business or personal use. Standard features which come as part of the deal with these cheap vans include, steering wheel mounted controls for ease of use when listening to your favourite CD's or radio stations. Other benefits include a side loading door and electric heating door windows. These vehicles can be leased for 199 per month.
1 Fiat Fiorino Cargo These cheap vans are ideal vehicles for any business, or for personal use. They are relatively compact, and offer many exciting features, including a side loading door for ease of removal and loading of goods, remote central locking, electric windows and mirrors and a protective ladder bulkhead. You can lease these cheap vans for as little as 139 per calendar month.
1 Nissan NV200 Voted 'Van of the Year 2010' by What Van?, these vehicles will easily cater for all your business needs. With many features on offer, including twin side loading doors and low level loading floor, to enable you to remove and load your goods with minimal effort, ABS and CD/MP3 player. The driver's air bag will provide you with additional protection and peace of mind, and the folding passenger seat will give you some
more room in the vehicle. These cheap vans can be leased on a financial plan of 149 per month.
1 Ford Transit SWB These are popular cheap vans, which are perfect for handling all your business needs. The standard features of these vans includes electric windows,remote central locking, immobiliser and side locking door. The Ford Transit on a financial plan, will cost you around 179 per month.
1 Vauxhall Astravan Sportive A sleek and stylish model, this vehicle offers many exciting benefits to drivers. Not only are they cheap vans, they are compact and sporty, so you will be able to impress your clients, if you use them for business purposes. Some of the features of these vans, include dark-tinted rear window, for added privacy in your vehicle. You can also enjoy the benefits of electric windows, door handles and side mouldings, and air conditioning. A finance plan will allow you to lease these cheap vans for
as little as 189 per month.
1 Peugeot Boxer Range Large size cheap vans which will enable you to transport a high number of goods, whether for business or personal use. Standard features which come as part of the deal with these cheap vans include, steering wheel mounted controls for ease of use when listening to your favourite CD's or radio stations. Other benefits include a side loading door and electric heating door windows. These vehicles can be leased for 199 per month.
Friday, June 8, 2012
Payday Loans Online
If you are facing trouble with your finances and you are short of money, consider applying for payday loans online. Cash advances from these loans can be used for any purpose and they can be easily acquired. These loans do not require any credit check and there are simple steps which are to be followed to receive instant cash. The cash amount can vary from 0 to ,000 and the money can be used for various purposes like rent payment, utility bills payment, medical bills payment, personal expenses and almost everything that you can think of. Once you get your next pay check, you can pay off the loans.
Application procedure for payday loans
Before you apply for payday loans, you need to know that there are two methods which can be used for application and that you need to fulfill the eligibility requirements. You can pay a visit to any of the physical offices of the lenders and make paper application for the loan. In this method of application, there is always a chance that you can come across someone you know and this can lead to embarrassment. This can however be avoided by using online application. You need to visit any physical office and you can simply fill up the electronic application form from the website of the lender and at the same time enjoy the comfort of your home. Before applying, you must find out whether you satisfy the eligibility criteria or not. To be able to apply for these loans, you need to be older than 18 years and you need to have a steady income flow every month. You also need to have an active bank account and you must be employed with some reputed and dependable company for a period of at least 6 months.
Online application
Application for payday loans online will require you to fill a simple application form which takes a maximum of 90 seconds. Once, you furnish the data required, the application is processed immediately and the cash is deposited in your bank account within a few hours. The lenders do not run any credit check which explains why loan applications are processed quickly. To compensate for the risk that the lenders take by not running any credit check, they generally charge interest rates which are higher than the prevailing market rates. Once you receive the money, you can use it for any purpose and you need to repay the money after you receive your next paycheck.
Security issues
Online application has a security risk. There are hackers and risks of identity thefts which is why, the lenders make use of the most advanced and latest web security technologies and protect the data with multi-layer encryption. This ensures that the information that you furnish is completely safe and secured.
Bottom line
Financial crisis can hit anyone anytime. Since banks do not entertain loan applications for amount less than ,000, applying for payday loans online with alternative reputed lenders can help you to get some instant cash to deal with your financial problems.
Now, find out how you can now get the best payday loans without within a few minutes from the best reviewed online resource.
Next, find out how to get the best payday loan at:
Application procedure for payday loans
Before you apply for payday loans, you need to know that there are two methods which can be used for application and that you need to fulfill the eligibility requirements. You can pay a visit to any of the physical offices of the lenders and make paper application for the loan. In this method of application, there is always a chance that you can come across someone you know and this can lead to embarrassment. This can however be avoided by using online application. You need to visit any physical office and you can simply fill up the electronic application form from the website of the lender and at the same time enjoy the comfort of your home. Before applying, you must find out whether you satisfy the eligibility criteria or not. To be able to apply for these loans, you need to be older than 18 years and you need to have a steady income flow every month. You also need to have an active bank account and you must be employed with some reputed and dependable company for a period of at least 6 months.
Online application
Application for payday loans online will require you to fill a simple application form which takes a maximum of 90 seconds. Once, you furnish the data required, the application is processed immediately and the cash is deposited in your bank account within a few hours. The lenders do not run any credit check which explains why loan applications are processed quickly. To compensate for the risk that the lenders take by not running any credit check, they generally charge interest rates which are higher than the prevailing market rates. Once you receive the money, you can use it for any purpose and you need to repay the money after you receive your next paycheck.
Security issues
Online application has a security risk. There are hackers and risks of identity thefts which is why, the lenders make use of the most advanced and latest web security technologies and protect the data with multi-layer encryption. This ensures that the information that you furnish is completely safe and secured.
Bottom line
Financial crisis can hit anyone anytime. Since banks do not entertain loan applications for amount less than ,000, applying for payday loans online with alternative reputed lenders can help you to get some instant cash to deal with your financial problems.
Now, find out how you can now get the best payday loans without within a few minutes from the best reviewed online resource.
Next, find out how to get the best payday loan at:
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