Digital finance – UK Digitala http://ukdigitala.com/ Thu, 24 Nov 2022 00:20:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ukdigitala.com/wp-content/uploads/2021/06/icon-2021-06-29T121704.452-150x150.png Digital finance – UK Digitala http://ukdigitala.com/ 32 32 New West families are seeing their debt rise due to rent and food prices https://ukdigitala.com/new-west-families-are-seeing-their-debt-rise-due-to-rent-and-food-prices/ Thu, 24 Nov 2022 00:20:00 +0000 https://ukdigitala.com/new-west-families-are-seeing-their-debt-rise-due-to-rent-and-food-prices/ Family Services offers financial workshops and one-on-one financial empowerment coaching People of all ages are using credit – or accessing payday loans – to pay their rent and put food on the table. Murray Baker, financial empowerment manager at Family Services of Greater Vancouver, said rising inflation and interest rates are impacting everyone, especially low-income […]]]>

Family Services offers financial workshops and one-on-one financial empowerment coaching

People of all ages are using credit – or accessing payday loans – to pay their rent and put food on the table.

Murray Baker, financial empowerment manager at Family Services of Greater Vancouver, said rising inflation and interest rates are impacting everyone, especially low-income and vulnerable people. He said it had a “huge impact” on people in Metro Vancouver, as some of the areas seeing the biggest increases are food and rent.

“It would be different if it increased on luxury cars – it won’t impact the customers we see,” he said. “It’s the food and the rent that hits these people hard.”

Baker said people with low incomes, unstable jobs, or who are elderly or disabled can access credit just to make ends meet.

“They don’t have access to credit to buy luxury items or discretionary items; they need to access credit just to live day to day,” he said. “Food on the table, feeding their families, making sure they have money at the end of the month for rent.”

Baker said people who don’t have good credit or who have instability in their jobs can find it very difficult to get credit from banks or other financial institutions, so they are often pushed to access to credit through “predatory” lenders who may charge 45 to 60 percent interest on loans.

“This is one of the areas where we are seeing an increasing number of people being affected,” he said. “And once people get trapped in this downward debt cycle, it’s really hard for them to get out of it.”

Baker said he deals with some “heartbreaking” cases, such as a senior on a fixed income who accessed a loan to help a family member, and was then paying $1,000 a month to repay these loans.

“When you access it, you have to pay. And if you miss payments, there are penalties involved. And the interest rates are prohibitive,” he said. “Quite honestly, I was worried about his mental well-being because he was so stressed about it. Imagine an elderly person in his 60s, not living an exorbitant life, and all of a sudden struggling to…find that money to repay those loans.

Family Services was able to help the man get a loan through a credit union, which reduced his payment to $350 per month.

“Some of the most difficult people I see are struggling people, older people who may have worked all their lives, who haven’t lived an extravagant lifestyle or anything, and who are struggling with homelessness or food security,” he said. “So those are some of the most heartbreaking customer stories I see.”

Baker told the story of a customer with a disability who had taken out payday loans, but was confused about what he was signing.

“He thought the interest he was paying was 6%, but it was 46%,” he said.

Some people, Baker said, feel like they have no choice but to get payday loans because they can’t get credit from a bank.

“They choose the predatory lender because in fact the bank is closed to them. They cannot access credit through the bank. So it’s a forced decision that attracts people there,” he said. “And then, unfortunately, when the economy is tough, some of these places really thrive because people – it’s a case of, do I take a payday loan or do I not pay my rent or do I have a bare table for dinner?”

Financial Literacy Month

November is Financial Literacy Month in Canada, a month aimed at strengthening financial literacy across the country. This year’s theme is Making Change That Matters: Managing Your Money in a Changing World.

The Financial Consumer Agency of Canada said this year’s theme reflects a complex and changing financial landscape. In the face of rising costs of living, rising interest rates and record levels of household debt in Canada, FCAC is putting the spotlight on debt management.

According to Family Services of Greater Vancouver, the number of people affected by inflation and the rising cost of living continues to rise in the Lower Mainland: nine out of 10 Canadians are tightening their household budgets as inflation and high prices persist; high inflation has pushed record numbers of Canadians to food banks in 2022; and nearly half of Canadians say their finances are worse than a year ago.

Baker said financial empowerment is about providing education to individuals, so they can make better, more informed financial decisions. When they have solid financial information, he says they are able to make good decisions and ask the right questions.

“If you have basic knowledge and ask well-thought-out questions, you’re probably less likely to be financially exploited,” he said.

Baker said he always wondered why financial empowerment wasn’t taught to students in school.

“A life skill, such as financial empowerment, is something that you’re going to use all your life,” he said.

If people have an understanding of budgeting, setting financial goals, saving, Baker said, it can have a huge impact on their lives.

Help is available

Family Services offers general workshops on topics such as: money basics (financial skills, budgeting, credit and debt); make your money work (saving and investing, saving for retirement, registered disability savings plans) and registered education savings plans); money and you (money and relationships, consumption, frauds and scams); advantages of navigation; and tax declaration. Services are offered in English, Spanish, French, Farsi, Cantonese and Vietnamese, and some workshops are offered at local public libraries.

“The message we want to get across is that if people are in trouble, there is help available,” he said. “Of course, our workshops are good for general information. But our individual coaching is really helpful.

While workshops and one-on-one coaching can’t immediately solve people’s financial problems in a single session, Baker said they often leave an hour-long session less stressed than when they arrived.

“They realize that there are options available, whereas when they first arrive they think there is no hope,” he said. “They leave knowing, ‘Hey, we talked about different strategies or things I can do. “”

Through one-on-one coaching, family service staff will work with a person on their personal situation.

“Our approach is very much a trauma-informed, client-centered approach,” Baker said. “We support and provide the information, strategies and options, but ultimately it’s up to the client to decide what action they want to take. We find that’s really beneficial because it gives them control, and they gain that confidence knowing they’re making the decision.

Baker said there was increased interest in post-pandemic programs. It is also picked up as inflation has increased.

For people who are struggling financially, the first step in family services is to see if there are ways to increase their resources, which could include using the benefits finder tool that provides a list of potential benefits they may receive.

“A lot of times we have customers come in, and they’re not even aware that they’re missing out on a particular benefit,” Baker said. “So one of the things we do is make sure their taxes are filed and up to date, which sometimes low-income people don’t file taxes, because their rationale is ‘I don’t earn enough. , it’s not worth me filing .’ But by not reporting, they often miss out on many government benefits.

Family Services also helps people learn about community benefits they may be eligible for, such as grants that can help seniors pay for housing or affordable internet services. Other actions could include finding ways to reduce expenses and providing information about food banks and other food programs if food insecurity is an issue.

Baker said single parents are a group that finds it particularly difficult, as are older people who may not be able to accept a job or other employment. He said college and university students are accessing food programs in increasing numbers, having seen “very significant” increases in rental rates.

“It’s an area, in fact, I’ve spent most of my career working in that area, writing books for students on how to fund colleges and universities. So it’s an area that I’ve been studying and writing about for many years. And it’s, you know, it’s probably one of the worst situations in terms of current students.

Baker is the author of the book, The Debt-Free Graduate: How to Survive College or University Without Breaking the Bank. He was inspired to write the book after seeing the “huge debt” of students after graduation and the impact it had on their lives for many years after graduation from college. including their ability to get married, to start a family, to start their life. own business, to buy consumer goods (which has an impact on the whole economy) and to set aside money for their own financial future.

“It’s really had a huge effect,” he told the Registration.

Debt impacts people’s lives — from their relationships with family members to mental health issues, Baker said. He emphasizes that there is no shame in asking for help.

“People don’t have to feel stigmatized if they’re in debt,” Baker said. “We do our coaching without judgment – ​​we don’t care how people got to the situation; our concern is how can we help you out of this situation? »

The Family Services team works with a variety of clients, some of whom earn six-figure incomes but are at risk of losing their homes to debt.

“People look around the Lower Mainland and you see nice homes and people driving fancy cars. Or you’re on social media and people are sharing their new purchases and things like that. There’s the perception that “everyone is fine except me,” Baker said. “And sometimes you compare it to an illusion rather than a reality. You don’t know all these people who drive nice cars, how much debt they have.

For coaching appointments, contact Family Services of Greater Vancouver at moneynavigator@fsgv.ca or call 1-800-609-3202.

Follow Theresa McManus on Twitter @TheresaMcManus
Email tmcmanus@newwestrecord.ca

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In South Dakota and Nebraska Deep Red, voters used ballot initiatives to reduce inequality https://ukdigitala.com/in-south-dakota-and-nebraska-deep-red-voters-used-ballot-initiatives-to-reduce-inequality/ Mon, 21 Nov 2022 05:54:53 +0000 https://ukdigitala.com/in-south-dakota-and-nebraska-deep-red-voters-used-ballot-initiatives-to-reduce-inequality/ This fall, in the run-up to the midterm elections, a group of Catholic nuns, Protestant ministers and other religious leaders caravanned through South Dakota on what they called a “Love Your Neighbor Tour.” . They stopped at grocery stores, restaurants, senior centers, libraries and other community gathering places to start conversations about health insurance. They […]]]>

This fall, in the run-up to the midterm elections, a group of Catholic nuns, Protestant ministers and other religious leaders caravanned through South Dakota on what they called a “Love Your Neighbor Tour.” .

They stopped at grocery stores, restaurants, senior centers, libraries and other community gathering places to start conversations about health insurance. They heard story after story of family members, friends and neighbors struggling to afford quality health care.

The purpose of this tour: to build support for a ballot initiative to help more South Dakotans get the care they need.

Through such initiatives, citizens can circumvent elected officials who have become disconnected from their constituents.

In this year’s elections, voters in more than 30 states committed to this form of direct democracy. These voters raised taxes on the wealthy in Massachusetts and Los Angeles, funded universal preschool and child care in New Mexico, and clamped down on medical debt in Arizona.

In South Dakota, the “Love Your Neighbor” campaign won big. By a margin of 56 to 44, voters approved a proposal to force their state government to expand Medicaid eligibility, a move that will help about 42,500 working-class people get treatment.

These people earn too much to qualify for the state’s existing Medicaid program, but too little to access private insurance through the Affordable Care Act. Since 2010, the federal government has covered 90% of the costs when states expand Medicaid, but political leaders in South Dakota and 11 other states have refused to do so.

This isn’t the first time South Dakotans have used effective strategies of people-to-people organizing and ballot initiatives for the good of their neighbors.

In 2016, a bipartisan coalition with strong support from the faith community won a stunning victory against financial predators, winning 76% support for an election measure to impose a 36% cap on loan interest rates. on salary. Previously, those rates averaged around 600% in South Dakota, trapping many low-income families in a downward spiral of debt.

In this midterm election season, Nebraska offers another inspiring example of citizen action to circumvent out-of-touch politicians.

For 13 years now, Republicans in Congress have blocked efforts to raise the federal minimum wage, leaving it stuck at $7.25 since 2009. Nebraska’s entire congressional delegation — all Republicans — has always opposed the hikes minimum wage. Rep. Adrian Smith, for example, recently attacked President Biden’s $15 federal minimum proposal as “economically harmful.”

Nebraskans see the issue differently.

Voters there approved an increase in the state minimum wage to the same level Biden has proposed — $15 an hour — by 2026. The measure, which was accepted with 58% support, will mean bigger paychecks for about 150,000 Nebraskans.

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Studies show gains versus hunger lost with tax credit ending – The 74 https://ukdigitala.com/studies-show-gains-versus-hunger-lost-with-tax-credit-ending-the-74/ Fri, 18 Nov 2022 17:03:06 +0000 https://ukdigitala.com/studies-show-gains-versus-hunger-lost-with-tax-credit-ending-the-74/ Support The 74’s end of year campaign. Each donation will be matched dollar for dollar. An article in the Journal of the American Medical Association in October confirmed previous research that food insecurity increased significantly after the monthly Federal Child Tax Credits expired on January 15, 2022. The study looked at the period between January […]]]>

Support The 74’s end of year campaign. Each donation will be matched dollar for dollar.

An article in the Journal of the American Medical Association in October confirmed previous research that food insecurity increased significantly after the monthly Federal Child Tax Credits expired on January 15, 2022.

The study looked at the period between January and July of this year in a series of national surveys and found an almost 25% increase in food inadequacy, affecting black, Hispanic and Indigenous families the most.

The article published Oct. 21 in JAMA, “Association of the Expiration of Child Tax Credit Advance Payments With Food Insufficiency in US Households,” involved a cross-sectional study of repeated surveys of a nationally representative sample of 592,044 US households.

“The results of this study suggest that loss of monthly payments (child tax credit) was associated with an increased prevalence of households with children in the United States reporting sometimes or often not having enough to eat, a condition associated with adverse health effects across the lifespan,” the paper concludes.

Monthly American Rescue Plan Act (ARPA) Child Advance Tax Credit (CTC) payments were administered to more than 35 million households with children in the United States between July and December 2021. Center figures on Budget and Policy Priorities show the appropriations benefited about 2.37 million children in Ohio. Tax credits were associated with a substantial decrease in food insufficiency, according to the study.

Under ARPA, three major changes to the credit have been enacted for the 2021 tax year: an expansion of eligibility to include families with very low or no income; an increase in credit amounts from a maximum credit of $2,000 per child per year previously to $3,000 per child 6-17 per year and $3,600 per child under 6 per year; and provision for half of the loan in the form of a monthly advance between July and December 2021.

As a result of these changes, about 92% of families with children were eligible to receive $250 to $300 per month per child between July and December 2021, according to the study. National data shows that parents report spending monthly CTC payments on food, utilities, rent, clothing and education costs, according to the article.

These monthly payments expired in January 2022 after the US Congress failed to extend the policy.

In a series of surveys conducted by researchers just before the CTC expired, the unadjusted household food insufficiency was 12.7% among households with children.

In late January and early February 2022, following the first missed monthly CTC payment, 13.6% of households with children reported food insufficiency, rising to 16% in late June and early July 2022.

“Given the well-documented associations between the inability to afford food and poor health outcomes across the lifespan, Congress should consider prompt action to reinstate this policy,” the JAMA article recommended.

These latest findings mirror previous research done by the nonpartisan National Research Group at the Brookings Institution and published in April 2022 in a report titled “The Impacts of the 2021 Expanded Child Tax Credit on Family Employment, Nutrition and financial well-being”.

Brookings researchers said the temporary tax credit expansion “has unprecedented reach” and lifted 3.7 million children out of poverty by December 2021.

“The expanded CTC significantly improved food security and healthy eating among eligible people,” Brookings found.

Moreover, according to this study, around 70% of CTC recipients who were negatively affected by inflation said that the payments had helped them better manage rising prices.

Besides increasing food security, other areas Brookings said tax credits help families include statistically significant declines in credit card debt compared to those who were not eligible; reducing reliance on expensive financial services such as payday loans and pawnbrokers, as well as reducing blood plasma sales rates; increased capacity to manage emergency expenses and strengthened family emergency funds; and a significant drop in evictions.

Brookings also found that credit enabled families of color to make significant investments in their children’s long-term educational outcomes. Black, Hispanic and non-white households were more likely to use the credit for child care and education expenses, Brookings found.

South Dakota Searchlight is part of States Newsroom, a grant-supported network of news outlets and a coalition of donors as a 501c(3) public charity. South Dakota Searchlight maintains editorial independence. Contact editor Seth Tupper with any questions: info@southdakotasearchlight.com. Follow South Dakota Searchlight on Facebook and Twitter.


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Payday Loans Add to Your Worries and Conflicts https://ukdigitala.com/payday-loans-add-to-your-worries-and-conflicts/ Tue, 15 Nov 2022 17:33:36 +0000 https://ukdigitala.com/payday-loans-add-to-your-worries-and-conflicts/ Become a personal finance expert Subscribe to our three times weekly personal finance newsletter that helps you manage your money better. Digging into financial maneuvers that seem suspicious. Payday loans are predatory products that people in financial difficulty often resort to in a pinch. Also called cash advances, these short-term loans are primarily used to […]]]>
Become a personal finance expert

Subscribe to our three times weekly personal finance newsletter that helps you manage your money better.

Digging into financial maneuvers that seem suspicious.

Payday loans are predatory products that people in financial difficulty often resort to in a pinch. Also called cash advances, these short-term loans are primarily used to cover basic living needs like utilities, car payments, credit card payments, housing, and food.

How are these products predatory? First, average interest rates vary from state to state, but rates are usually so high that borrowers fall into a debt trap. Texas, for example, has the highest average APR of 664% (well above the 36% APR cap defenders have claimed in a number of other states). This means that a borrower who needs $300 to cover their rent would have to pay back $1,992, which is often paid off by taking on more debt.

Second, payday loan ads disproportionately target Black and Latinx populations, and cash advance locations tend to be clustered in low-income areas. Enough said.

So while we strongly advise against payday loans at all costs, here’s what to do if you or someone you know is having trouble escaping this cycle:

  • Get help with debt management through the National Credit Counseling Foundation. (You may have to pay a small fee for the service, but it’ll be money well spent.)
  • Focus on a debt avalanche approach paying off the debt at the highest interest rate first.
  • Connect with your local support group for cash assistance or help paying for groceries.
  • Negotiate your expenses As talk to your landlord if you think you are behind on your rent. Call your credit card companies to see if you can change your payment due date.

It is important to remember that payday loans are the result of societal failures, not individual ones. And both the private and public sectors are working to eradicate this predatory practice: organizations like the Center for Responsible Lending are working to end predatory lending, and more than 16 states have banned payday lending entirely.-Myriam

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Is a payday advance from a bank better than a personal loan? https://ukdigitala.com/is-a-payday-advance-from-a-bank-better-than-a-personal-loan/ Sat, 12 Nov 2022 12:32:34 +0000 https://ukdigitala.com/is-a-payday-advance-from-a-bank-better-than-a-personal-loan/ Image source: Getty Images We’ve all come across an unexpected expense from time to time. Key points 60% of Americans couldn’t cover a $400 emergency expense without going into debt. If you need cash fast and your bank offers payday advances, it might be worth looking into. A personal loan has other advantages, however, such […]]]>

Image source: Getty Images

We’ve all come across an unexpected expense from time to time.


Key points

  • 60% of Americans couldn’t cover a $400 emergency expense without going into debt.
  • If you need cash fast and your bank offers payday advances, it might be worth looking into.
  • A personal loan has other advantages, however, such as a higher borrowing limit and a lower interest rate.

Many of us have been there. You had a car accident, and now you have to pay the mechanic to fix it. This unexpected expense will cost you a few hundred dollars and, like 60% of Americans, you won’t be able to cover it with your savings. Plus, you only have money for the bare necessities left in your checking account, and your next payday is days away. What should you do?

You have a few options in this situation. Read on to learn more about bank payday advances versus personal loans, and how to decide which is right for you.

What is a salary advance?

A payday advance loan from a bank or credit union is called a small amount loan. These are loans generally between $100 and $1,000 granted by a bank to account holders. The intention is to give consumers an alternative to predatory payday loans (see below) when they are in a financial bind. If your bank offers them, you’ll get the money you need quickly and pay it back from your next paycheck via direct deposit, or over a period of weeks or months. You will have to pay a fee (either a fixed dollar amount or a small percentage of what you borrow) and interest for the service.

Discover: These personal loans are the best for debt consolidation

More: Prequalify for a personal loan without affecting your credit score

You may soon hear more about payday advances; a Bloomberg Law report in early October 2022 noted that federal regulators want banks to be able to offer them, but banks need more guidance from regulatory agencies moving forward. Personal loans, on the other hand, are already reliably available for your emergency borrowing needs.

What is a personal loan?

A personal loan is a fairly easy way to borrow a lump sum of money. They usually come with lower interest rates than many other quick cash solutions, like credit cards or payday loans (and certainly lower than payday loans). However, if your credit isn’t in top shape, you may not qualify for the best personal loan rates available.

Personal loans are generally in the amount of $1,000 to $100,000, and can often be funded fairly quickly after your application is approved. In some cases, you can get the money the same day or the next day. Is there another way to borrow money fast? Yes, but you probably want to stay away.

Try to avoid payday loans

Although it may seem counterintuitive (after all, there’s “payday” in the name), it’s a good idea to avoid payday loans. And depending on where you live, they may be illegal in your area; they have been banned in 13 states and the District of Columbia. Payday loans are small, short-term loans of $500 or less, usually with a very high interest rate.

As of 2022, typical payday loan rates range from 28% to 1,950%. These loans often lead consumers into a cycle of debt from which they cannot easily escape. Can’t repay your loan on your next payday? That’s fine, the lender will turn it into a new payday loan for you! How nice of them. Your best choice is probably a payday loan or a personal loan.

How do you choose?

There are a few things to consider when choosing between a payday advance and a personal loan.

How much money do you need?

A payday advance loan, if you can get one from your bank or credit union, is probably best for borrowing smaller amounts. If your auto repair bill is $350, but the smallest personal loan amount you can take out is $1,000, that’s not ideal. If your surprise expense is larger, you’ll likely get a better interest rate with a personal loan (plus, payday loans from your bank may be capped at $500).

How fast do you need it?

If you can wait a few days and have good credit, you may be better off with a personal loan – again, because of interest rates. That said, if your bank offers payday advance loans, they might approve you fairly quickly if you’re an existing customer in good standing. It has already registered you and can access your finances in the form of your bank account(s). Plus, your bank can easily send the money you borrow directly to your account.

How long do you need to pay it back?

This is where a personal loan probably has the advantage. You will have more time to repay a personal loan (months to years) than a payday loan (weeks to months). But again, a lot depends on the amount of money you need to borrow.

Payday advance loans and personal loans have their place, and if you ever get into trouble and need to borrow a relatively small amount of money, both are worth considering. However, it is definitely in your best interest to avoid payday loans.

The Ascent’s Best Personal Loans for 2022

Our team of independent experts have pored over the fine print to find the select personal loans that offer competitive rates and low fees. Start by reviewing The Ascent’s best personal loans for 2022.

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Pennsylvania Instant Cash Loans Online | Emergency loan with StarLoans https://ukdigitala.com/pennsylvania-instant-cash-loans-online-emergency-loan-with-starloans/ Thu, 10 Nov 2022 00:40:11 +0000 https://ukdigitala.com/pennsylvania-instant-cash-loans-online-emergency-loan-with-starloans/ Philadelphia, PA –If you find yourself in a situation where you urgently need funds, and your credit history or time does not allow you to go to a bank, the best option is to contact a non-banking company. The most popular non-bank offers are payday loans and title loans. In order to understand which of […]]]>

Philadelphia, PA –If you find yourself in a situation where you urgently need funds, and your credit history or time does not allow you to go to a bank, the best option is to contact a non-banking company. The most popular non-bank offers are payday loans and title loans. In order to understand which of the proposals suits you best, read the article below.




Short term payday loans are instant internet loans that can be obtained even in 15 minutes! With online payday loans in Pennsylvania, you can get anywhere from $100 to $1,000 with a repayment period of up to 31 days. Thanks to modern lending platforms, lenders can offer customers quick and convenient access to an express loan via the Internet – in extremely attractive amounts and flexible repayment dates.








Anyone who owns a car in Pennsylvania can get a loan even faster. The amounts that can be obtained through title loans are higher, since the amount of the loan depends solely on the value of your car. To get a title loan, all you have to do is take money against his car. More and more such offers are available on lending websites that operate in Pennsylvania. Only private car owners can afford this type of loan.

starloans





How do these loans work?

A car loan is a type of transaction that is guaranteed by the car of the person who decides to contract it. With this type of option, you can borrow a much higher amount from the lender. And all thanks to its protection in the shape of a car.

To receive both pennsylvania cash advance and securities loans, you must follow the same steps required when applying for other types of loans, i.e.:







  1. First, you need to choose a lending company whose services you want to use; it does not have to be a fixed installation; now more and more sites offer this type of loan.
  2. In the next step, you will need to fill in the form required by the lender; it must include data such as: name and surname, identity card number, residence address, e-mail address, telephone number, employment information and data on your car in the case of home loans.
  3. Then you have to wait for a response from the lender.

Formalities that the lender will expect from us

If our loan application is approved, we will then have to complete all the formalities required by it.

At first, the loan company will send us a loan agreement, the transfer of ownership of the car and a power of attorney, through which you can enter the lender as a co-owner of our car.

You should know that on the basis of a car transfer agreement, the loan company obtains 51% of its ownership. Only when we repay the loan in full does it transfer full ownership of the vehicle to us. From the borrower’s point of view, the most important thing is that he can use the car for the entire repayment period (if he is only a co-owner of the car).

In the case of a title loan, once all required documents have been signed by both parties, the borrower must:

  • Take the power of attorney and the property contract and contact your communications department.
  • He must file an application there with the loan company with which he signed the loan contract to be registered on the registration certificate as co-owner of his car.
  • The borrower has 7 days to carry out this type of activity; they are counted from the moment of the conclusion of the agreement with the lender.
  • The next step is to send the borrower a scan or readable copy of the new registration certificate.
  • Additionally, many lenders also require that you send them several photos of the car (including its engine – there should be a legible VIN number on it; a photo of the windows is also recommended in this case – there should be a registration sticker on it).

What are the documents required when concluding this type of loan agreement?

To benefit from a car loan, you must bring the vehicle registration certificate and your identity card. The age of our car will be extremely important to the lender. For most loan companies, it can’t be more than 8-12 years old. It should also be remembered that our registration certificate must indicate that we are the sole owners of the car for which we wish to take out a loan.

If you apply for a fast personal loan, all you need to do is provide your identity card and proof of income.

Our car should then have:

  • Civil liability insurance policy in force,
  • Assignment of the policy to the lender,
  • Vehicle card (if, of course, it was issued earlier).
  • From the borrower’s point of view, the most important thing in this case is that the lending company will not verify the source or amount of our income. It is possible because it is secured by our car.

Are these loans profitable?

There are no perfect loans, as each requires timely payment of all installments. Of course, a loan is unequal. That’s why you should carefully compare the offers of different loan companies. The safest option is to choose an offer from a company that has been operating in the market for many years like money online at starloans.net. By contacting it, you can be sure that it is a trustworthy institution. After all, hundreds or even thousands of people before you have trusted this company.

The advantages of both types of loans:

  • You do not need to present certificates which would document how to receive and how much income we make
  • You do not have to wait a long time for the decision of the loan company (of course, if we immediately provide a set of documents required by it)
  • You will be able to take out a new loan from the same lending company as soon as we repay the one we took out first
  • Even those who have never used this type of offer can apply for such a loan.

Thus, by choosing one or another type of loan, you should only start from your preferences and desires. The risk of losing the car if we don’t repay the loan we took out is one of the biggest drawbacks of title loans. However, you can receive large sums even if you do not have a stable source of income; all because your car will protect it in this case.

It’s up to you to decide which loan suits you and your needs at any time.


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Grace Victory’s 7 tips to help manage family finances https://ukdigitala.com/grace-victorys-7-tips-to-help-manage-family-finances/ Sun, 06 Nov 2022 06:51:17 +0000 https://ukdigitala.com/grace-victorys-7-tips-to-help-manage-family-finances/ As the cost of living weighs heavily on our minds, columnist Grace Victory explores the pressures on parents and her personal tips for budgeting when you have growing offspring. I think it’s fair to say that most of us don’t feel financially secure right now. Whether you’re literally going through every month, a nursing student […]]]>

As the cost of living weighs heavily on our minds, columnist Grace Victory explores the pressures on parents and her personal tips for budgeting when you have growing offspring.

I think it’s fair to say that most of us don’t feel financially secure right now. Whether you’re literally going through every month, a nursing student trying to make ends meet, or a mother trying to get back to work but childcare costs get in the way, the rising cost of living affects us all.

I grew up poor. I grew up knowing about payday loans and child allowance, and I understood from an early age that if I wanted anything out of life, I had to go out into the world and grab it, because nothing was wrong with me. was given.

We lived in an apartment in a housing project, then a housing project, and at 18, after finishing my studies, I chose to work rather than continue my studies. I knew I needed money and had to contribute in some way to my family home, so I said no to college or professional musical theater school (which was really a dream of mine). And while I don’t regret my decision at all, I often wonder if I would have made that choice if my family and I had had financial freedom.

I don’t remember ever being without it, but I do remember my mom budgeting, saving from January to pay for the next Christmas, and never buying anything for herself . I believe my mother sacrificed a lot to make sure my sister and I were clothed and fed, and I will be forever grateful to her. I know all types of family dynamics, but single moms don’t have it easy in any capacity, so I respect those who go it alone.

I started making money from social media in 2015 and since then with each passing year I am earning more and more. It’s no secret that influencers, content creators, and YouTubers earn a substantial sum through ads, paid partnerships, or affiliate links – I’m no different. But I often struggle to know where I am in my identity, because I grew up with very little, and now I have so much.

And it’s not just about having the money to buy things, it’s about the opportunities, convenience, and mental relief that come when your bank account is plentiful. It’s the lack of worry or anxiety that I’m grateful for, because early in my career I struggled to pay my rent, and the level of stress I felt was enough to make me vomit. I saw people online flying business class to Bali while I was sinking deeper into debt.

I am very proud to say that I now have £0 in debt, which is truly amazing, and I have made a life for myself and my children that is different from the life I had as a child. But I’m also becoming more and more aware of our ever-changing world and the fact that money just doesn’t seem to be going as far as it used to – or as far as it should.

I am fully aware that I am speaking from a privileged place here. I am financially stable, earn money regularly and even though I set a budget each month, I know that some months I can be indulgent and provide myself or my family with things we would like. But even I’m a little worried that the energy bills keep going up, the grocer’s apparently going up £20 every week, and the price of petrol too – I could go on! Every aspect of everyday life costs so much, and if I feel this ever-increasing burden, I can’t imagine the stress and anxiety that people less financially privileged experience, including people close to me, like my mother. .

I don’t live a particularly glamorous life, but rarely worrying about money is definitely one of my biggest blessings, but that’s slowly changing, and I have to adapt and change some aspects of how we live in family, for factor in the current state of the UK.

  • I’m tightening my budget even more and making sure I know exactly where each book is going.

  • I do our weekly grocery shopping where there are the best deals or discounts (this week it was Ocado because they had £15 off, plus their usual savings).

  • I cancel subscriptions and apps I no longer use, and unsubscribe from emails so I don’t get tempted to overspend.

  • I buy things like diapers, wipes and toilet paper in bulk because it’s cheaper that way.

  • I usually don’t spend money on clothes (unless it’s maternity leggings because my bump is bigger LOL).

  • I opt for free, discounted or cheap family outings.

  • I check my bank account every other day, just to make sure I know where I am with my spending habits.

These are just a few of the things I do to help ease the pressure, but at the end of the day, if you don’t have more money coming in than you are taking out, you’re going to struggle. I’m angry and frustrated that so many people are put in horrible situations (especially during the winter), and all because of greedy white men in suits and an absolutely disastrous government – and it’s me who am nice.

I also donate plus size clothing and baby items to charity, toys to local playgroups, and donate food to food banks.


Love Grace x



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I applied for a $1,000 loan. Here is what happened. https://ukdigitala.com/i-applied-for-a-1000-loan-here-is-what-happened/ Tue, 01 Nov 2022 22:01:38 +0000 https://ukdigitala.com/i-applied-for-a-1000-loan-here-is-what-happened/ Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR. When my car broke down a few months ago and I needed quick cash for repairs, my friend recommended a company called ZippyLoan. They say you can borrow between $100 and $15,000 and […]]]>

Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR.

When my car broke down a few months ago and I needed quick cash for repairs, my friend recommended a company called ZippyLoan.

They say you can borrow between $100 and $15,000 and have the money in your account by tomorrow, even if you have bad credit.

But are they legit or just another scam?

Keep reading to find out what happened when I tried ZippyLoan and if you should ask them for a loan too.

What is ZippyLoan?

If you’ve searched online for a personal or payday loan company, you’ve probably heard of ZippyLoan.

This is a free, no-obligation service that helps connect you with potential lenders.

If you’re looking for quick access to a personal loan through a simple, secure, and transparent process, ZippyLoan may be able to help.

Its website states that borrowers can avail unsecured personal loans with just proof of identity and a regular source of income.

Whether you need a loan for personal or family use, like making a major purchase, renovating your home, consolidating debt, or just covering an unexpected expense, ZippyLoan can help.

How ZippyLoan Works

FinanceProject

When you use ZippyLoan, you are not borrowing directly from the company.

They are not lenders and are not involved in the loan approval process.

Instead, ZippyLoan helps connect you with potential lenders who can lend you the money you need.

Here is an overview of how ZippyLoan works.

  1. The first step is to complete an online form. ZippyLoan says it takes less than 5 minutes. You can fill out this form on a desktop or mobile device 24 hours a day, 7 days a week, so there are no queues or waiting.
  2. The second step is that ZippyLoan tries to put you in touch with a lender who will make you a non-binding offer. It shares your information with lenders on its platform to see who may be able to help you. If you receive an offer and are happy with the terms of the loan, you can electronically sign a loan agreement on the spot and have your money deposited in your bank account the next business day.
  3. The third and final step is to repay your loan. If you take out a payday loan, you can pay on your next pay date. You can also opt for a personal loan that offers monthly repayment for up to 60 months.

To apply for a loan from ZippyLoan lenders, all you need is proof of identity and a regular source of income.

There is no minimum credit score, so you may be able to get approved for a loan regardless of your credit history.

This makes ZippyLoan one of the best places to apply for a personal loan if you have a low credit score.

Is it safe to use the ZippyLoan website?

Plugging your personal information into a website can be daunting, but ZippyLoan is safe and secure.

They are members of the Online Lenders Alliance (OLA) and are committed to high standards of conduct. If you have any problems, you can call the OLA Consumer Helpline (1-866-299-7585) for assistance.

ZippyLoan OLA.png

FinanceProject

Credit checks?

As ZippyLoan is not a lender, it does not perform credit checks, so your credit score will not be affected.

If you accept an offer, the lender will tell you whether they will do a soft or hard credit check before electronically signing your agreement.

Is it easy to use?

ZippyLoan’s online form is fully optimized for mobile devices, so you can apply for a personal loan wherever you are.

The form takes less than 5 minutes to complete and you should start receiving offers from lenders immediately.

Quick approvals?

One of the best features of ZippyLoan is that everything is done online so you can get approved quickly.

If a lender makes you an offer that suits you, you can sign the agreement online and receive your money the next business day.

Rates and Fees

Network lenders offer between $100 and $15,000 and are flexible on rates and fees.

The exact terms you are offered will depend on your personal circumstances and credit history, but here are some representative examples:

  • Short-term or payday loans are usually due in full in 14 days and cost between $10 and $30 per $100 borrowed.
  • Personal loans can be repaid over 6 to 60 months and have an annual rate (APR) of between 7.04% and 35.89%.

To give a fair review of ZippyLoan, I also wanted to give my opinion on some of the downsides of using the website.

Disadvantages of ZippyLoan?

Unfortunately, ZippyLoan is not available to residents of New York, District of Columbia, Oregon, or West Virginia.

And because it’s not a direct lender, it makes no promises that you’ll be approved or qualify for a certain rate on your loan.

Another thing to remember is that ZippyLoan won’t do a credit check when you fill out their form, but all the lenders you work with will.

Most lenders will do a credit check through one of the big three credit bureaus, Experian, Equifax or TransUnion.

This type of check can show up on your credit report and can worsen your score, so be sure to check with lenders before applying.

My experience with ZippyLoan

When my car broke down and needed repairs, I had to borrow $1,000 and asked ZippyLoan for help.

Here’s how it went.

  • The application process was very simple and it took me less than 5 minutes to enter all my information.
  • Within minutes I had loan offers from lenders ready to lend me. The terms of the loans were all written down and I could see what credit checks they wanted to do before I accepted the loan.
  • I decided to choose a lender who offered me a 14 day loan with a fee of $15 per $100. This meant I could borrow $1,000 for two weeks and had to pay back $1,150, which I thought was reasonable.
  • After accepting the offer, I had the $1,000 in my account the next day.

I found the whole process very easy and was able to get the money I needed quickly, and will use them again if I ever need emergency money.

If you’re looking for a quick loan to get you out of trouble and you’re sure you can pay it back, then I 100% recommend ZippyLoan.

Click here to visit the ZippyLoan website and request the money you need today.

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Getting ‘stuck’ with payday loans https://ukdigitala.com/getting-stuck-with-payday-loans/ Sat, 29 Oct 2022 11:03:45 +0000 https://ukdigitala.com/getting-stuck-with-payday-loans/ Image courtesy of Pixabay By JESSICA LOVECourtesy of Indiana Capital Chronicle Have you ever had your car or truck stuck in the mud; and the harder you try to get out, the deeper your tires sink? I have. So, I know from experience: unless you have the luxury of waiting for things to dry, you’re […]]]>
Image courtesy of Pixabay

By JESSICA LOVE
Courtesy of Indiana Capital Chronicle

Have you ever had your car or truck stuck in the mud; and the harder you try to get out, the deeper your tires sink? I have.

So, I know from experience: unless you have the luxury of waiting for things to dry, you’re going to need some help – a push or a pull – to get unstuck.

And you’re probably going to feel a little embarrassed. I mean, technically, even if you had no intention of getting stuck, no one else was driving. Either you didn’t see the danger in front of you, or you thought it wouldn’t be so bad to go through it.

Even if you didn’t have a good way around it, or if you calculated the risk and thought you could get away with it, the fact remains that it happened and you were “at fault”. Thinking back on it, you wish you had done something other than the fix you were looking for – the one that caused your “tires to sink deep in mud and mud” (for others little blue truck fans).

Now imagine that the vehicle you are thinking of represents your family’s financial health and the process of “no longer stuck” as a result of choosing the option to solve your short-term problem yourself – instead of asking for help. or not to think of you had other options – represents a payday loan. The “solution” then becomes a bigger problem to solve than the original problem.

That’s about where the analogy ends, since muddy patches don’t have business models designed to keep you stuck like payday lenders do. It’s by locking people in more that the profits are really made, where the interest rate eventually hits 391% in Indiana. And you really need to find a solution to your solution.

This is why I often refer to the payday loan industry as one of the most subsidized markets in existence – because government and non-profit resources are so often needed to lift people out of disasters caused by payday loans.

What if it didn’t have to be like this?

One way forward is policy change. For now, the onus is largely on Congress, and your legislative action will help make the Fair Credit for Veterans and Consumers Act – which will cap all payday loans at 36% – a reality. You can also ask your state legislators to impose a 36% cap. But until and even after the legislation is passed, many Hoosiers will still need a more responsible way to borrow.

What if there was another route?

What if most of the 88% of Hoosier voters polled who said they would like to see Indiana have a 36% wage rate cap — who are able to provide another way — have paved the way for a solution alternative for their employees and co-workers?

The impact, to reinforce my analogy, would be shattering for Hoosier families who lack the resources to weather a financial shock.

A specific “bypass” – previously available in only 23 counties – recently became available statewide. If you’re a business owner, or an HR representative, or just someone who wants to talk to your boss about providing a financially viable option to those in your workplace, the solution I present to you is the Community Loan Center program.

It is a small, affordable, employer-focused loan program. So what’s the problem ?

Well, as difficult as it may seem, there really isn’t. For companies enrolled in the program, the CLC program is provided as a benefit at no cost to the employer. Employers literally only have to: 1) confirm employment when a loan is requested and 2) set up a payroll deduction in accordance with the employee’s repayment plan. By doing so, they instantly gain employees who are less stressed and more present for their work.

Made available through non-profit organisations, this affordable 12 month loan is designed to get people into or out of debt instead of trapping them. (CLC loans can be used to repay payday loans.) The reason is simple: nonprofit providers offering this program would rather focus their resources on improving a family’s economic trajectory than on bail out from the earthquake that stems from a payday loan.

Just think about how you could bring this alternative to your workplace – and actually help solve a colleague’s short-term financial problem in a way that makes it manageable and gets people out of the mud without getting stuck. .

Jessica Love is Executive Director of Prosperity Indiana, a statewide membership organization for individuals and organizations that strengthen Hoosier communities.

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Senator Warren will promote student debt forgiveness during his visit to Western Mass. https://ukdigitala.com/senator-warren-will-promote-student-debt-forgiveness-during-his-visit-to-western-mass/ Mon, 24 Oct 2022 18:15:00 +0000 https://ukdigitala.com/senator-warren-will-promote-student-debt-forgiveness-during-his-visit-to-western-mass/ Democratic U.S. Senator Elizabeth Warren will be in western Massachusetts on Tuesday with Congresswoman Ayanna Pressley to talk about canceling student debt. The two are touring the state with additional stops in Boston, Brockton, Worcester and Springfield to encourage those eligible for President Joe Biden’s pardon program to sign up. Announced in August, the plan […]]]>

Democratic U.S. Senator Elizabeth Warren will be in western Massachusetts on Tuesday with Congresswoman Ayanna Pressley to talk about canceling student debt. The two are touring the state with additional stops in Boston, Brockton, Worcester and Springfield to encourage those eligible for President Joe Biden’s pardon program to sign up.

Announced in August, the plan forgives $10,000 of student loan debt for individuals — and an additional $10,000 for Pell Grant recipients. The US Department of Education estimates that the program will cost the government $30 billion a year over the next decade. Americans currently collectively owe about $1.75 trillion in student loan debt. While a lawsuit from six Republican-controlled states stalled the plan in federal appeals court, the Biden administration has said it still intends to overturn it. Warren told WAMC why she was heading to Springfield Technical Community College on Tuesday afternoon.

WARREN: It’s really exciting. You know that President Biden has forgiven the student loan debt of approximately 43 million Americans. And that’s about 850,000 people in the Commonwealth of Massachusetts who will have some or all of their debt forgiven. So Congresswoman Pressley and I are going out to Springfield Technical Community College on Tuesday. We’ll be there at 4:45 just to rally people to make sure everyone who is eligible signs up to get their debt forgiven, and to encourage people to come out and spread the word. You know, tell your sister, tell your mother, tell your cousin, tell your neighbor, because I want to make sure everyone in the Commonwealth who is eligible for this liberation actually gets it.

WAMC: So what’s at stake here? What are people missing out on if they don’t take advantage of this program?

Well, if someone was a Pell beneficiary when they were in two-year college, four-year college, technical school, they are entitled to up to $20,000 in loan debt student canceled, disappeared, erased from the books. If they weren’t eligible for Pell, they have the right to reverse about $10,000, off the books. Now this only applies to people with incomes below $125,000. And I’m just going to be blunt here – Most people who have this debt and are going to get relief have a household income below about $75,000. But it’s an easy, easy form to go online to check it out. It’s under studentaid.gov, and it’s a very simple form and you can tell right away if you qualify for a cancellation. Fill out the form, it takes a few minutes. And here’s the best part – The cancellation is going to happen in a few weeks, and that means – I want you to think about it from a personal perspective. That means people who’ve been under that weight, that means people who couldn’t think of moving out of mom’s basement, or buying a car, couldn’t think of buying a house, for some haven’t been able to start a small business, or haven’t been able to start a family, that they can get rid of that debt and really build a more secure economic future.

Let’s talk brass thumbtacks. When you talk about the impact of student debt on American society, on the Commonwealth, what are the big numbers that are relevant here? What does this mean materially for the people of Massachusetts?

Well, what that mainly means for the people of Massachusetts, for the 850,000 who will be eligible for debt cancellation here, is that they can just stabilize themselves financially. Now, as you know, there’s been no student loan repayment so far for that, it’s been two and a half years during the pandemic. But those payments are set to begin in January. And on average, they cost around $400 per month. So being able to erase or reduce your student loan debt will have a big impact month-over-month for people in the future. And that’s going to be a really big deal.

Now this legislation is just the start of an effort to address a problem that will certainly continue long after this, the impact of this is being felt. And certainly, you had your own bigger ambitions for bigger versions of this same program. What comes next for Democrats to build on this and continue to reduce student loan debt in America?

Excellent question. So let me give you the second part, because we’re also going to do that on Tuesday, and that’s the Civil Service Loan Forgiveness Program. So you might remember for anyone… Think who is in the public service. Public school teachers, firefighters, police officers, people who work for the city or county or for the state or federal government, nurses who work in nonprofit hospitals. All, under current law, were entitled to take out public service debt forgiveness. And after 10 years of payments, they get the remaining debt erased. Well, it turns out the loan officers were really bad at it, and they put people in the wrong programs, they sent them off to the wrong places that gave them the wrong information. And so a lot of people who could have gotten help didn’t. By October 31st, by Halloween, people who are in the civil service are entitled to get what is called a waiver to participate in the new civil service loan forgiveness program and have all their previous payments count towards their 10 years, and when they reach that 10-year mark, clear the remaining debt. So that’s going to help a lot of our teachers, firefighters and nurses. This is the next step. But we have more than that! Want to hear about it?

I certainly would.

Okay, from there we have to continue to reduce, obviously, student loan debt. But we also need to take a closer look at how to prevent this debt from building up again in the future. And that means we need to make college more affordable. And to do that will take a combination of our state and federal governments to provide enough support to our public colleges and universities so that no one has to shoulder crippling debt to get a technical certificate, or to to obtain a two-year degree, or to obtain a four-year degree. For me, it’s about how we think about building a future, and we’re building a future by making investments, roads and bridges. We are building a future by investing in broadband. We are building a future by investing in the education of our people and helping people prepare for a 21st century economy. As a nation, I believe we need to make these investments so that everyone who wants to get that education can get it without being burdened with student debt. That’s what’s left in the future, and that’s part of what’s on the ballot in November. So that’s what the Democrats are fighting for, and that’s why I’m fighting alongside them

I wanted to hear your opinion on the Fifth Circuit Court of Appeals ruling on the Consumer Financial Protection Bureau regarding the unconstitutionality of the funding structure. What do you think about this? I know you’ve already fought backbut I kind of want to cut to the bone here- What’s going on with the desktop?

Well, first they got the law wrong. And second, it’s really reckless. So let’s do the first. The Consumer Financial Protection Bureau is funded similarly to the Federal Reserve, which, by the way, is not the only banking regulator that is not funded by appropriations. The Office of the Comptroller of the Currency, which is the primary banking supervisory board, and the FDIC, you know, which provides this great insurance to make sure the money will be there, you know, if you have money in a current account, all are financed outside loans. And that means the Senate doesn’t vote or Congress doesn’t vote on them every year, and that’s been the case since 1863, when the first federal banking regulator was put in place. And you know, the reason was pretty obvious. And it was that basically, as one nation said, it’s not a good idea for politicians to have financial control over these banking regulatory agencies, because they’ll be under too much political pressure. That’s how it was set up from the start. There is nothing abnormal about the CFPB. But that’s part of what makes this decision so reckless. When the Fifth Circuit says, no, I’m fair, they’re just declaring the whole agency unconstitutional, they’re actually trying, I think, to try to say that all the regulations that the agency has put in place to protect people on residential mortgages and credit cards and payday loans – are they saying it just goes away? And are they saying that, at least in the Fifth Circuit, they don’t recognize the Federal Reserve Bank? They don’t recognize the banking supervisors from the Office of the Comptroller of the Currency? They don’t recognize FDIC insurance? This is just one of those opinions you just have to shake your head about how these guys are doing politics instead of doing their job and applying the law as it is written.

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