How To Get The Best Graduate Loan

If you have recently finished university, getting started in the 'real
world' can be tough if you don't have the funds to start on your chosen
career path. If you have dreams but don't have the cash to follow them, then
you should look at getting a graduate loan to help you out whilst you find
your feet. Here are some hints and tips about how to go about getting a
graduate loan and how such a loan could help you.

What are graduate loans?

In essence, graduate loans are just a form of unsecured personal loans. They
are for people who have recently finished university and want to get ahead
in their career or for any other purpose. Graduate loans usually consist of
a lump sum of around £1000 to £25,000 and are repayable over six months to
ten years.

What are the advantages?

Although graduate loans are basically unsecured personal loans, because they
are for people starting out in their careers, lenders often offer better
rates. The interest rate will be lower than regular personal loans, and the
amount you can borrow will usually be greater than you could normally
secure.
However, graduate loans are still based upon your credit rating and so rates
may vary depending on your status and current income.

Deferred payment

Another advantage of graduate loans is that they sometimes offer deferred
payment options, both at the start and at various points throughout the
loan. This means you can delay your payments for a number of months in order
to get your finances in order. Of course, doing this still means you will be
charged interest, and so will end up paying back more.
However, it can be useful if money is tight or you want time to sort things
out before you begin repaying the loan.

Charges and costs

Although typical APRs are low, there are other charges to consider when
taking out a graduate loan. For instance, missing payments can be expensive
with late fees of anything up to £40 for a missed payment. Also, if you want
the money within 24 hours of applying you might have to pay a fee of around
£50 or more for the privilege. However, graduate loan charges are fairly
similar to those of any other personal loan. Just make sure that you read
the terms and conditions before applying.

What can I use the loan for?

What you use the loan for is up to you, but usually graduate loans are used
to pay off credit card debts from university and to help start you off in
your chosen career. This might be to buy the right smart clothes for your
job, or to pay to move to a new city, or for travel expenses. Getting
everything you need to start your career can be expensive, especially if you
already are short of cash because of university debt. Getting a graduate
loan will help you to sort out your finances and put you in a position to
get what you need to move up in the world.

About The Author: Peter Kenny is a writer for http://thriftyscot.co.uk
Please visit us at http://www.loanwize.co.uk and
http://www.thriftyscot.co.uk/Loans/

Personal Debt - A Quick Guide

The growing level of personal debt is fast becoming a serious social
problem, or so the experts are saying. The causes of such debt are manifold
and can be caused by various difficult life circumstances. For most people,
being in debt of some sort is just a way of life. But it is possible to
become clear of debt; and a good way to start is by learning how to manage
on whatever income you have.

If you do happen to be in debt, the two best types of debt to have are home
equity loans and mortgages. The usual options for those who have large
amounts of debt are either debt consolidation or to think about going
bankrupt. Bankruptcy is very often the result of medical problems, losing a
job, or sometimes a marriage breakdown, which results in the accumulation of
debt. About 20% of folk in debt are being treated for depression and similar
ailments from their doctor, which shows what a stressful experience it can
be.

Be on your guard, there are many companies out there who promise a quick fix
to all your financial problems. But be very careful, some of them may charge
high fees and fail to deliver on their promises. With a lot of personal debt
problems, the hardest part can be admitting to the fact that you actually
have a problem. To avoid running into problems in the first place, try to
educate yourself as much as possible about debt and the damage it can wreak
on your financial health.

A recent report has stated that American credit card debt is estimated to
stand at around $785 billion, which averages out at about $7500 for each
household. Another recent survey of 1500 consumers carried out by another
company, said 71% of people asked said debt is causing them some level of
distress.

To summarize: My advice would be to try and start making some improvements
right away, although you must realize that setting yourself free from debt
might not turn out to be a quick or necessarily easy process.

About The Author: James Hunaban is the owner of http://debt.jims-info.com/
and http://www.debt-advice-online.net/ sites dedicated to Debt advice.

What Are The Benefits Of A Cash Advance Loan?

Cash advance or payday loans are one of the quickest ways to get hold of
money when you are short of funds. They are predominantly used to cover your
expenses until your next payday, when you pay back the loan in full. If you
find yourself short at the end of the month and need cash fast, then you
should look at getting a cash advance loan. Here are some tips about the
benefits of a cash advance loan.

What is a cash advance loan?

A cash advance loan is a short-term loan that is meant for people who need
cash quickly due to a temporary shortage of funds. Usually, you can get hold
of a cash advance or pay day loan within a few hours of applying. You are
simply required to be in regular employment and fill out a few bank details.
You can borrow anything up to about £500 depending on your needs and job
circumstances.

No credit checks

One of the major advantages of cash advance loans is that no credit checks
are required for you to get hold of the loan. All you have to do is provide
details of your employer and you can get hold of the loan. This makes the
application process extremely fast and helps you to get the money when you
need it most.

Great for emergencies

If you have trouble getting hold of other loans or credit cards and have an
emergency situation that requires money, there might not be time to find the
funds elsewhere. A cash advance loan gives you the opportunity to get hold
of the money you need quickly and at a relatively low cost.

Costs of cash advance loans

Although cash advance loans are relatively cheap if you pay back the loan
quickly, you are still paying for the convenience of being able to get money
quickly with very little checks. This means that you will pay a percentage
of the amount you borrow as a fee, usually around 10%. If you pay back the
loan when you next get paid at the end of the month, then this will be all
you have to pay. However, if you can’t pay this back, then you will be
charged again and again until you do. This could mean that in just 6 weeks
you will have been charged £90 on a loan of just £300. This can lead you to
get into a vicious circle where each month you have to get a cash advance
loan just to stay afloat.

What are the alternatives?

The alternatives to cash advance loans are limited, especially if you don’t
have a credit card or a family member who can lend you the money. Although
they can be expensive, if you use cash advance loans wisely for emergency
situations and special circumstances, you will find them a great way to get
hold of much needed cash at short notice without the usual credit checks and
long approval processes.

About The Author: Peter Kenny is a writer for The Thrifty Scot, please visit
us at http://www.loanwize.co.uk and http://www.thriftyscot.co.uk/Loans/

Payments Are Lowered When You Choose To Consolidate Debt

There are lots of ways to reduce the way in which an individual pays their
debt. Some of these methods include debt management, declaring bankruptcy,
bill consolidation, debt forgiveness, debt payoff, and debt settlement.
Individuals who are trying to reduce their debt burden will need to consider
their options in light of their situation; for many, bad credit debt
consolidation will be the best choice.

Most people in debt find themselves there due to poor planning in terms of
spending on credit cards. Credit card companies make their money through the
interest rates they charge on purchases; these rates are often quite high
and when the consumer finds himself unable to make a payment the interest
charges, late payment fees and pother penalties which are injured add up so
quickly that soon an individual will find themselves in a credit quagmire.
This scenario is an ideal time to make the decision to debt consolidate.

The basic premise behind credit card debt consolidation is simple. An
individual takes all of the balances owing on the various credit cards held
and transfers them to one lender, with the idea that the interest rates paid
will be lower than the amount charged by all the previous bills combined.
One way to accomplish this is to take an advance on the introductory rates
offered by another credit card which generally include a much lower interest
rate and paying the money back using that formula. Beware, though; once the
introductory rate has expired, your interest rates may again soar.

Another way to consolidate credit bills is to take out a secured loan. These
loans are procured by putting up a secure asset such as a house or property
against the amount of the loan. Once the loan is gained, the borrower can
pay off the higher debt owed to the credit card companies and begin saving
money by paying the lower interest rate of the loan. The money saved can be
used to make bigger payments, which will also serve to reduce the money that
is paid.

Remember that bad credit reflects very poorly on an individuals ability to
get ahead in life, and sometimes even to maintain a standard of living. It
is important to repair any black marks on your credit record as quickly as
possible.

In addition to debt consolidation, people who find themselves in need of
credit repair may want to consider the services offered by companies who
offer consolidation loans. These services will help to gain some more peace
of mind for the individual as the collection agencies cease calling about
outstanding amounts and there is a little more money left over after the
debt payment has been made. Gaining the consolidation will also put an
individual in contact with a financial expert who can assist in finding ways
to overcome bad spending habits.
Remember that although debt and bill consolidation is an easy and usually
safe way to regain peace of mind, it is up to the individual to make sure
that they do not repeat the mistakes that necessitated the proceedings in
the first place.

About The Author: Barry Brokhard is writing at large for
http://www.creditenio.com , an online site on debt consolidate and bill
consolidation. His articles on bad credit debt consolidation can be
encountered on http://www.creditenio.com/baddebt.html as well as other web
sites.

Using A Company For Credit Consolidation

If you have found yourself over your head with money and in need of credit
repair, you may choose to go ahead and apply for credit counseling.
Companies that offer this service will set individuals up with a payment
plan to reduce their debt until it is paid off through methods such as
credit consolidation.
While these services may prove invaluable in restoring your financial
integrity and gaining back a measure of control over your life, it is
imperative that you apply for these services through an accredited,
professional agency. There are many companies offering these services and
you must choose the one best suited to your needs. Make sure that any
companies you are looking into are accredited by a third party; that is,
their services are recognized and endorsed by a second organization
(non-affiliated!) that recognizes their high standards.

The Council on Accreditation and of Services for Families and Children,
Inc., is probably the most well-known of the large number of organizations
which debt counseling companies can be recognized by. Accreditation by the
COA means that the agency is guaranteed to abide by the high standards set
in the areas of volunteer Board governance, service delivery, fiscal
integrity, and counselor certification. It is important to note that as a
reliable accreditation organization, the COA does turn companies down for
accreditation if the standards they set are not met by the company.

Another organization which is vital to the process of debt reduction
business is the National Foundation for Credit Counselling. Debt
consolidation companies that are members of the NFCC also are required to
conform to very high standards.
These standards apply both to individual counselors and to the business as a
whole. Counselors who work for these businesses must undergo exacting tests
and training in order to be certified.

Debt consolidation companies who offer a credit loan and other means of
reducing debt must adhere to several standards in order to receive
accreditation. They must agree to have annual audits done on operating and
trust accounts,a s well as meeting all the requirements that are stated by
the Federal Trade Commission. Any clients who use the business must receive
a quarterly statement from the company at the very least, and clients must
file detailed reports about their situation, including the cause of their
debt and written plans of action.

The COA goes even further when they accredit an organization.
In order to receive recognition from the COA, businesses must have
counselors who are certified by the NFCC and have minimum fee structures in
place for their clients. The COA is also committed to meeting the needs of
specific minorities and the fair treatment of creditors.

About The Author: Concentrating on the topic of credit consolidation, Eric
Slarkowski published principally for http://www.creditenio.com . From his
reports like http://www.creditenio.com/councel.html ,the author proofed his
knowledge on themes dealing with credit counceling.