FastLoanTree Fri, 08 Feb 2013 10:16:00 +0000 en-US hourly 1 What is bad credit and what are its effects? Fri, 08 Feb 2013 10:15:24 +0000 admin badcreditloans-approvedThere are a lot of people who have bad credit. This is something that one has to be wary of. If you earn so much money that you do not have need to borrow, then you will not need to worry about bad credit, but if you do not earn a lot of money and need to borrow once in a whole to overcome financial troubles, then you need to know all about bad credit and its effects.

What is bad credit: The credit that is provided to you may not have been repaid by you on time and this is called as bad credit. For example, when you use a credit card and have not repaid the outstanding amount to the credit card issuing company, then you be said to have bad credit.

There are several effects of the bad credit that you need to know about too. Some of the effects are listed here.

  1. Inability to get more loans: You will not be able to get more loans if you have a bad credit. The lending agency will look at your credit score and also your credit history. When there has been a lot of defaults on payments and because you have a poor credit score and bad credit history, the lender will not provide loans to you. It is a well known fact that most of the people who have a poor credit score and also obtain new loans will default on these loans too. So, to minimize this risk, the lender will completely avoid giving out loans to you.
  2. Inability to get credit cards: If you have a bad credit history, then you may not even be able to obtain a credit card in your name. The credit card issuing company will be wary of a person with poor credit. This is because of the facts that once the card is issued, you may overshoot your credit limits and then avoid paying back the money. So, people who have poor credit history and poor credit scores will not be provided with credit cards.
  3. Inability to get a proper home for rent: A person who is having a bad credit will not be able to get a house for rent. This is because house owners or landlords who are giving out the homes for rent will check your credit score before providing the home. If they find that your credit report tells of bad credit, then they will not risk giving their homes to you on rent because they will be scared of not getting the rent paid on time.
  4. High interest rates will be charged on loans you get: The other effect of the bad credit is that you may not get a loan. Even if you do get a loan, then you will be charged a higher interest rate on the loan.

So, it is always better to have a good credit score so that you will not have to suffer all these effects that have been listed here.

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Healthcare industry has huge potential for growth Wed, 06 Feb 2013 14:22:58 +0000 admin One of the industries that have not grown like most of the other industries is the healthcare industry. There are many reasons for the lesser growth in this industry. There are a lot of people who have not thought of this industry as one that has an income potential at all. Most people think of the industry as one where the whole idea is to provide affordable healthcare to the people. The general idea is that when we try to provide affordable health care to the people, there is a lesser chance for the industry to make profits.

imagesThe truth is far from this statement. This is because of the fact that though there is a lot of focus of the health care industry on affordable treatments, there is also the general idea that health industry should be covered by insurance. When this becomes universal, the health of a person will be completely covered by the insurance companies. What will happen then is that people who become sick do not need to pay any money to the hospital or the clinic where they are getting treated. The payment for the treatment is paid by the insurance company directly to the hospital.

There are a lot of policies and rules that need to be enforced to make sure that this is done in a smooth manner. Also, there are millions of people who are not covered by the health insurance. This could be because of the fact that the person is not able to pay the insurance premium to get covered by the health insurance schemes. So, the best way out of this is that you will need to search for the best insurance that is also affordable to you. Once you find such insurance, you should start paying the premium and become a part of the scheme. This will help you to get the best treatment when you become sick. Also, you will be able to reduce the cost of the treatment that you have to pay.

When the payment is done directly by the health insurance company to the hospitals and clinics which treat patients, the healthcare industry will be poised for a huge growth. The other aspect about the growth of the healthcare industry is the growth in the pharmaceutical companies. There are newer diseases affecting people. Other than the new diseases, the treatment of the existing diseases is also becoming very difficult and newer drugs are being created to treat the diseases. People are also able to afford these newer treatments with different kinds of drugs. All these have helped the health care industry to grow phenomenally. There is also a high chance for further growth when the health care becomes universal.  Since there is a good chance of growth in the industry, the governments of the various countries should work in tandem with each other and formulate policies that will help to make healthcare to be universal.  This will help the industry to further grow and help in keeping the people healthy too!

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Things you need to learn about a personal loan Mon, 04 Feb 2013 10:58:59 +0000 admin high-risk-personal-loansLending as well as borrowing has become a part of life and living. Loans vary in type, nature, purpose and objective. The objective and purpose of a personal loan will obviously vary from loans facilitating household construction, purchase of automotive or any other piece of commercial property. Before transacting a deal on a loan, you need to ascertain and figure out the exact parameters of your needs. If ever you are driven at the doorsteps of loaning by the dire consequences of an emergency, you need to thrash things out in a planned manner. Before opting for a specific variety of loan, it is imperative that you cross check its pros and cons. In case, you are a relative newcomer to the prospect of borrowing, a certain amount of initiative is necessary on your part to be methodical and focused in your deals of research.

Nature and objectives of this loan type

When it comes to sailing through some of the minor situations of emergency, personal loan turns out to be one of the most viable alternatives. The loan belonging to this category doesn’t generally involve the backup support of a security. Smalltime issues such as wedding expenditure and that relevant to the needs of travelling can be best covered by the aforementioned option for personal loaning. There are times, when you are bound by circumstances to have a consumer durable replaced. However, paucity of funds may put you on the back foot.  You may simply run out of savings. Under such circumstances, it is pretty injudicious to cash in on your fixed deals of investment. This is exactly where, the loaning scheme of the mentioned kind chips in with its effective role.

Features of advantage

The loans of this type are easily accessible. Easy processing and absence of complexities are the other facets of advantage. However, the absence of a security is one of the most startling points of advantage. For accessing and availing a personal loan, you need not be asked to disclose the end objective of your borrowing. The loan facilitator will obviously checkout on your capacity for repayment. But beyond this, there will be little or no query as to the ultimate purpose of your use. Thus, you are free to use the borrowed money in the way that suits you best. As long as, you are quick, calculative and certain about the modalities of repayment, there is little confusion about the loaning procedure.

Factors on the checklist for accessing personal loans

Personal loan may involve bare minimum usage of paperwork. But even then, you ought to comply with certain criteria for accessing the same. Income profile together with credit status of the concerned borrower is checked thoroughly. To all intents and purpose, the loaner has to ascertain and provide assurance for the capacity for repayment. Keeping this in mind, certain minimum conditions of entitlement are chalked out.  Though conditions differ from one to another, on an average a loan facilitator can expect you to furnish the application for loaning with age & identity proof, salary slip/balance sheets, accounts of profit, residential proof and certification of a guarantor.

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What is inflation all about? Fri, 01 Feb 2013 10:52:27 +0000 admin Inflation is something that eats into the money that you have saved. There are a lot of people who do not know anything about inflation. They just know that the prices of the essential things are all rising. So, the result is that the person who was earning a particular sum of money is not able to afford the same things that he was able to afford in the past, though there has not been a change in the income earned by the person. The reason for this is the inflation.

Inflation, Schlange vor Lebensmittelgeschäft, Berlin

Every single person who is saving money should ensure that the money that is saved is able to beat the inflation in the country. There are some countries in the world that have a very high inflation. There are other countries in the world that will not have a high inflation. In fact, there are a very few countries in the world where the inflation is negative. There are different conclusions that one can draw from these different rates of inflations present in various countries.

  1. Investments that are made should beat inflation: The investments that you make today in various financial instruments will give you a rate of return. The rate of return should be more than the rate of inflation that is prevalent in the country at the time. For example, if you are investing in a financial instrument that provides you a return of 8% and if the inflation that is prevalent in the economy at that time is about 9%, then the amount that you get in return after the period of investment will have a lesser value. This return on investment that has a lesser value is called as negative return, when adjusted for inflation. On the other hand, if the investment earns a rate of about 8% and if the inflation is about 5%. Then you will be able to get a return on your investment of about 3%, when it is adjusted for inflation.
  2. Retirement planning should be based on inflation: The planning for the retirement is something that you will have to think and plan too. Each and every person should start planning for their retirement even when they start their career. This is because of the fact that it is not easy to plan and invest just in the few months before the retirement. So, when you plan for the retirement, you need to ensure that you invest in instruments that will give you a return that is much more than the inflation, over a period of time. You should not think about the short term inflation, but you should think of the long term inflation that could eat away into the money that you have saved. In spite of saving so much money, you will end up not having a lot of money at the time of your retirement.

So, it is very important that you try and plan for the inflation adjusted returns on your investments. This will help you to get enough money after the period of investment.

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Is real estate investment the best bet for the future? Wed, 30 Jan 2013 11:53:08 +0000 admin There are many methods of investing. Each person should invest money to ensure that the future is secured not only for them, but also for their family.  So, the investment that a person makes is very important. One of the most important components of investment is the use of the real estate. There are some people who invest all their hard earned money in the real estate and hope for the prices to increase, so that they will be able to make a huge profit on their investment. Let us see if it is good sense to invest all the money that you have in the real estate market. Also, let us see if it will help you to earn a lot of returns on your investment.

Some of the important factors that you will have to remember are listed here.

  1. Prices of real estate are sure to rise over a period of time: The prices of all the investments that you make in the real estate are sure to increase over a period of time. This is because of the fact that inflation will cause the value of any investment to increase. The good thing about this is that you will get a return on your investment, but the problem with this is that you may not get a high return on the investment that you made. Over a period of time, the pries may increase, but if the increase in the prices may not be as high as you would want it to be.
  2. There are times when the prices may not increase much: There are many years when there will be a slump in the prices of the real estate. This may be because of the cyclical nature of the economy. When the economy is bullish, then the process of all the things will increase and there will be a lot of liquidity in the economy and people will be able to buy and sell things in spite of the high process of the real estate. On the other hand, there are instances and periods of time when the investment that you have made in the real estate will not increase as much as you would expect it to. This means that you will only be able to get a small return on the investment that you made in the real estate.
  3. Real estate should not make up your full investment portfolio: When you are creating a portfolio of investments, then there are some factors you need to understand. The real estate that you have purchased will be a risk and it may not provide stellar returns that will beat inflation. On the other hand, it has been seen that the equity investments are the ones that give you a high rate of return over a longer period of time on a consistent basis. If this is the case, then you need to ensure that you have to invest only a part of the portfolio in the real estate. The other investments should comprise of investments in Gold and also equity.
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The mobile application industry is the fastest growing one Mon, 28 Jan 2013 14:19:20 +0000 admin There are a lot of industries that are growing all the time. On the other hand, there are many other industries that may be doing well for a few years and then they will not do so well. One of the industries that as recently started booming is the mobile application industry. There are several kinds of mobile phones that are available and the applications for these phones also are more. Other than the mobile applications that are created by the phone companies, there are also a lot of applications that are being created by many freelancers. The result is that there are thousands of applications that are in various stages of development each and every day.

Some of the phones that have a lot of applications are the iPhones as well as the Android phones. The iPhones have applications in the iStore that can be bought by you. You can pay for the applications on the internet and then you can download these applications on the phone that you own. This is a simple process which can be very helpful for you.

For example, the Apple iPhone store had many thousands of applications created in the last one year itself. Other than the creation of the applications, they can also be shared between lots of phones. You will be able to send the applications from one place to another through Bluetooth and other methods. This will help many people to get the same kind of applications. The business is booming because these applications that are created are being used for various useful purposes.

Some of the useful purposes for which the applications are created include trading in the equity markets through the applications. Also, other applications include the creation of methods to get news feeds on your phone. The Apple store was the one that initially started with the idea of creation and sharing of these applications.  This has become so popular that there are thousands of people creating applications for the phones.

These days, there are so many smart phones that there are different operating software on which these phones operate. The applications are created for these different platforms. The applications that are the best will be able to garner a great market share. As each person downloads these applications, the creator of the application will get the money. The business of the creation of applications for the smart phones will only increase. This is because of the fact that many more people are turning to smart phones to use the internet than use the personal computer. This means that it could cause a new revolution in how we access the internet. As we move from the personal computers to hand held devices, the business of creation of applications and sharing them on the internet will increase further. This is already a multibillion dollar industry and this is sure to grow in leaps and bounds in the near future. If you would like to get a share of the revenues from this booming business, you need to ensure that you try and create some applications and sell them through the internet.

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How secured loans can help you to recover from financial injury Wed, 23 Jan 2013 11:20:37 +0000 admin There are many people in today’s scenario who are struggling with debts due to several reasons. Getting a loan is only a temporary solution for your financial problems. However, in order to find a permanent solution for your financial problems, you need to spend some time and effort and plan your daily life properly. Usually people take loans without ascertaining their ability to repay them and as result become defaulters. This causes their credit ratings to fall drastically. This kind of financial injury is difficult to cure, but there are several ways that it can be done. One of the methods to improve a low credit score is secured loans.

There are many different types of loans available for different borrowers. The two main types are secured and unsecured loans. The secured loans have collateral attached to them whereas unsecured loans are without the need of collateral. Both these types of loans satisfy different kinds of requirements and both have their own pros and cons.

Getting rid of credit card debts

fastloantreeIf you have huge debts – especially credit card debts – and you are unable to repay them, the chances are that your credit score is very poor. At the same time the credit card interest rates are usually very high. In this situation it will be a good idea to consolidate various high interest rate loans with one low interest loan. If you own a property then it becomes easy for you to get a secured loan by offering your property as collateral.

Secured loans

Secured loans are also known as home owner loans. This type of loan will help you to get the required money even if you have a low credit score. Apart from low interest rates, the other benefit of secured home loans is that you can get an amount three times larger than what you would get as unsecured loan. For this loan you will be required to pledge your property or some other valuable belongings as collateral. The loan amount will be equivalent to the value of the property or other belongings.

  • Secured loans are long term loans and are usually given for a period of 5-10 years.
  • If requested they can be extended up to 20 years also
  • It is easier to get these loans approved than it is to get unsecured loans.
  • The interest rate of these loans is low compared to that of unsecured loans

A secured loan can help you in easing your financial difficulties because it has a low interest rate and as a result the monthly installments will also be affordable. However, before opting for this type of loan, you should be careful to calculate your repayment ability. This is because if you are unable to repay this loan, the lender has the right to foreclose your property or other valuable belongings. Hence if you are not careful, you may end up losing your property.

However, if you calculate properly and plan wisely, then you can make good use of a secured loan.

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Is China the economic leader of the world? Wed, 16 Jan 2013 09:29:13 +0000 admin China is one country where the economic condition seems to be improving all the time. When the world seems to be having a lot of economic problems in some of the most developed countries, China is always becoming better economically. This economic strength of the country is because of the hard work of the people and also because of the various policies laid down by the Government.

China is not considered to be the economic leader of the world mainly because the Chinese go about their business without a lot of hype and have achieved great things in the past few years. They have consistently been able to improve their performance on the economic front and have achieved high growth in the past few years. Each quarter of the financial year brings better results, though there have been some minor problems in their economy too. These problems are very minor compared to the problems that are being faced by the other major devel0epd nations.

Is China the economic leader of the world?

The control by the Central bank in China on the Chinese economy is also much more than the control that the Central banks of the other countries has on their respective economies. There is less privatization and this has also helped. Though the Chinese were very reclusive in the past because of their Communist background, this has not prevented them from taking advantage of the liberalization and the open market system that is prevalent in the world. The Chinese have started manufacturing products in a big way and this has caused their economy to boom. The number of people who are without jobs is very less in China. This is because of the high amount of manufacturing industries in the country.

So, can we say that China is the economic leader of the world? The truth is that though the economy of China is booming, there are some problems that are faced by the country. One of the problems is that the products that are manufactured in China are not very good. There are a lot of fake products and the quality of the products that are manufactured is not very good. The result is that the people who use these products are not able to get good value for the money that they have spent on the purchase of these products.

Still, because of the growth that the Chinese are showing in their economy, they can be seen as the market leaders, but the growth that is being seen in China may not continue at the same speed forever. All economies go through periods of cyclical correction and the same will happen in China. The ability of the Chinese to recover from these declines in growth needs to be seen. Also, there are other developing nations that are competing with China. Some of them include countries like India and also Brazil which are also growing at a reasonable pace and may start getting ahead of China. So, though China may be the fastest growing country in the world, the country cannot be said to be the economic leader of the world just yet!

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American family finance statistics Mon, 14 Jan 2013 14:41:14 +0000 admin The given infographic represents the statistics of American Family Statistics Finance: an average American family savings account balance- 3800$, 25 % of American families have no savings, an average American household debt amounts 117.951$, an average American family home value attains 160.000$, an average amount owed on home mortgage attains 95.000$, an average American household annual income-just 43.000$, an average credit card debt has reached 2200$. It is obvious that 74 % Americans target to reduce costs in the next months because of escalating prices. Today, the average American spends about 23% of the profits on food &gas. Actually, 60% of the students in California public schools now can qualify for reduced price or even free school lunches. Sorrowfully, the figures of Americans without health insurance have increased from 38 to 52 million in 10 years.


Finance Infographic on FastLoanTree



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Situations when the contingency fund saved by a family will help Mon, 14 Jan 2013 10:10:52 +0000 admin The personal finance of every family is very important. Each individual should have a financial plan of their own. Other than the contingency plan that they have as a family, the individuals also need to ensure that they have their own plans. It is important that the family as well as the individual plan well so that they are not in any kind of financial crisis because of various emergency situations. Some of the situations in which the financial planning with adequate allocation to the contingency fund will help are listed here.

  1. Health problem: In case there is a health problem to one of the family members, then you need to ensure that you will have to make sure that you try and get the person treated for the disease. The situation that can arise is that you will spend a lot of the money on the treatment. Other than this, the health problem could also cause the sick person to lose the job. These situations can arise anytime and when the person loses their job, the family needs to sustain though the difficult days and the money from the contingency fund is used to sustain during these difficult day.
  2. Disability or death of main earner in family: The main person who is earning the bulk of the income in the family will be supporting the family to a great extent. This person will be meeting the financial needs of the family and may have bought a house and a car. These purchases would be made with the help of a mortgage. The result of this is that every month, a bulk of the salary would go for the repayment of these mortgages. In this situation, if the person who earns the bulk of the family income dies or even has a disability, then the result is that the repayments will not be possible and there could also be difficulty in sustaining the regular lifestyle. This is the reason for the family to have a contingency fund.
  3. Loss of job: The loss of a job due to the economic recession or because of any other problems is another factor that could cause the family to go through a lot of hardships. There are many families that are struggling all the time because of the loss of a job and the result is that they undergo increased family strife leading to divorce and breakups. This can be averted by saving money in a contingency fund and using it in time of need.
  4. Sudden financial crisis: There are other situations when you may face some sort of financial crisis too. This is a situation in which you will have to overcome. This phase of financial crisis could be a very short time or it could be a longer phase. Whatever the time period of the financial crisis, the family has to cross it and this will be possible with the help of the contingency fund that has been saved. The contingency fund should be easily accessible so that the financial crisis is met and overcome successfully.
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