Loans & Credit Blog

Quick, Easy Loans for Your Summer Vacation

June 14, 2010

The weather is warming up and the urge for a summer vacation is probably becoming hard to contain. If a summer break to the beach or mountains sounds like a nice getaway, but limited cash is leaving you wondering if you’ll be able to make it across state lines, a quick, easy loan may be the way to go. Here are some steps for getting a loan for your summer vacation.

Select a Destination

So you want to getaway this summer? There are lots of options for a family summer vacation. You could go to Disney, hit the beach or spend some time visiting relatives. You’ll want to dedicate a little time to researching the best destination option for your family. Consider how much time you have and what method of travel will be most convenient.

Set a Budget

Before you secure a loan for your summer vacation, set a budget. Figuring out how much you need will help you determine what type of loan to get. While a 14-day cruise to Europe may be a little out of range, a family road trip to Mt. Rushmore or the Grand Canyon could be full of just as many memories, with far fewer expenses. Depending on some of your financial factors, keeping within a reasonable budget will improve your chances for getting the summer vacation loan you’d like.

Talk to a Loan Company

Now that you’ve got some plans in place, talk to a loan company. Be prepared to share some basic financial information with them in order to get the loan quickly and easily. It’s best to work with a company that has a local branch in your area so that you can deal with loan professionals directly rather than automated systems. Once your loan has been approved, which shouldn’t take long, you will have the cash you need to take the summer vacation you deserve.

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Bad Credit Auto Loans: How to Find Them

May 17, 2010

You found the car of your dreams. It’s just what you’ve been looking for. The car is clean and ready to roll off the lot. There’s just one problem: you’ve got bad credit. Don’t let your dream car drive away with someone else. consider these options for finding a bad credit auto loan.

Try a Local Loan Company

Rather than deal with big financial institutions that treat you like a number, find a local loan company that will be more willing to work with you on an auto loan, even if you have bad credit. They’re more likely to tell you certain steps to take to make getting a loan easier even with less than perfect credit.

Consider a Co-Signer

You may have better luck securing an auto loan when you have bad credit if you have a co-signer. A co-signer is someone with a better credit score that will be named on the loan. However, keep in mind that if you don’t make your payments, you’ll also be hurting your co-signer.

Think Loan First, Car Later

Avoid disappointment and delay by securing your financing before shopping for the perfect car. You’ll have better bargaining power when dealing with a dealership if you know you already have the ability to buy the car. Once you have secured financing, you may be able to negotiate a better rate with another company.

Try a Bigger Down Payment

You may be more likely to secure that auto loan despite your bad credit score if you’re able to bring more cash to the table. Find some ways to make quick cash so you can offer a larger down payment for the car. That means you won’t need as large of a loan either, which could increase your chances of getting an auto loan despite your low credit score.

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How to Help a Friend that Needs Quick Cash

May 13, 2010

Lots of people experience money crunches. Maybe payday isn’t coming quickly enough to keep up with all of the bills. Or maybe an emergency is requiring more money than you have on hand. If you’ve got a friend that needs quick cash, here are some ways to help.

Give Them a Gift

Money can do serious damage to any relationship. Rather than loan your friend money, give them a gift. Removing the expectations for repaying the loan will reduce any chance for negative feelings in the future.

Help Them in Other Ways

Perhaps your friend could use some free child care, groceries or extra time to pick up a part time job. If there is something you can do for them it may free them up to pick up extra hours at work or get a part-time job.

Pay a Bill

Rather than just give them cash, help your friend by paying one of their bills. They’ll feel relief for getting caught up with some of their financial obligations. And they’ll likely have extra cash for other needs.

Help Them Find Work

You probably know your friend pretty well. You know their strengths and weaknesses. You know their likes and dislikes. Help them find work by asking around your circle of friends, searching want ads or keeping an eye out for companies that are hiring. You’ll help them put more cash in their pockets.

Refer Them to Regional

Regional Finance has several options for people who need quick cash. There are a wide range of loan amount offerings and if you refer a friend, right now you can get some money too. The Refer-a-Friend Program provides $25 to you when you refer a friend. Just fill out this printable form and have them bring it in to their local branch to qualify.

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Turning Your Bad Credit into Good Credit

May 13, 2010

Millions of Americans are in a tough place financially. They’re facing mounting bills and dropping credit scores. If you feel like your credit score has room for improvement here are five ways to turn your bad credit into good credit.

1. Pay Bills On Time. This isn’t always the easiest task, but make it a priority. Paying your bills on time shows creditors that you can handle your financial obligations. The longer you can go without a late payment, the better your credit score will become.

2. Review Your Credit Report. Errors can impact your credit report negatively. Take some time to review your credit report and check it over for mistakes. You can get your hands on a free copy of your credit report each year through AnnualCreditReport.com.

3. Reduce Debt. If your debt-to-income ratio is off-balance it will impact your credit score. Paying off excessive debt will help to improve your score. Focus your efforts on the credit card or debt with the lowest balance until it’s paid off. Then move on to tackle the next debt.

4. Pay off Credit Cards Monthly. Once you’ve eliminated the bulk of your debt, commit to paying off your credit cards each month. This will improve your credit score by showing that you are reliable when it comes to making debt payments.

5. Get New Credit. Even if you’ve got a low credit score, you may want to consider applying for a credit card. Signing up for a store credit card or one through a local credit union will help you establish more credit. Just make sure you are responsible and pay it off at the end of each billing cycle. Don’t rack up more debt that you aren’t able to pay off or you may end up hurting your credit score rather than improving it.

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Earning Cash on the Web

May 3, 2010

Just about everyone could use extra cash. But the big question is– how do you get it? Quick cash can be easy to find on the Internet. You just have to know how to go about getting it. Here are some ways to earn cash on the web.

Sales and Auctions

There are lots of ways to use the web to sell or auction off your items in order to make money. Check out sites like eBay and Craigslist for turning unwanted items into cash. It won’t take you long to list your items and depending on which resource you use, you could have your extra money within a couple of days.

Become an Affiliate

An affiliate is basically like a sales person for a company except instead of a salary, you just earn money every time you get someone to make a sale or sign up for a service. One example of this is the shopping portal Ebates.com. For every qualified person you get to sign up with Ebates you’ll earn $5. You can spread the word on your blog, Facebook page or through email. There are lots of other affiliate programs. Start with the websites or stores you use often and find out if they have an affiliate program.

Complete Online Surveys

Don’t expect to get rich quick by filling out online surveys. But you may earn some extra cash doing an easy job. Watch out for scam companies and don’t ever pay to participate. But once you find a legitimate company, you’ll be able to fill out surveys during your free time.

Get Paid to Tweet

Are you on Twitter? Consider turning your tweets into cash with advertising programs like Sponsored Tweets. You’ll get to select and write the tweets you send out. You’ll also get to set your price. The more followers you have on Twitter the more money you’ll earn.

Write Online Articles

Do you like to write? Consider writing for money with websites like Demand Studios. Signing up is free and you’ll be able to select the articles you want to write. It’s a flexible job that pays well so you’ll have extra cash quickly.

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Get Quick Cash With Spring Cleaning

April 13, 2010

Spring is here. That means it’s the season for cleaning up and organizing your life. Not only is getting organized a great way to save time and reduce stress, but spring cleaning can also be a great method for making quick cash. Here are some ways spring cleaning may be your source for extra money.

Loose Change: Did you know that the average American has more than $50 in change sitting around their home? Check those couch cushions, junk drawers and piggy banks. You may be surprised just how much money you have when you pile it all together.

Sports Equipment: Cleaning out the garage? Pull out any used sports equipment and clean it up. Make small repairs such as inflating any basketballs or bike tires. Take your equipment to a store like Play it Again Sports that buys gently used sports equipment.

Clothing: Chances are you’ve got plenty of clothes you no longer wear. Take the nicest pieces and list them on eBay. Online auctions last up to a week and then you’ll have quick cash instead of clothes you don’t wear.

Electronics and Jewelry: Have old electronics or jewelry you don’t want cluttering up your home anymore? Consider taking it to a local pawn shop or consignment store. They’ll either give you money on the spot or let you try to sell it in their store. Once it sells you’ll get the money minus the clutter.

Yard Sale: Anything that you weren’t able to sell to a store or on eBay, consider adding to a garage sale pile. Enlist a neighbor to join you in holding a garage sale so you can split the expenses and the work. You’ll be amazed at how much money you can make off the stuff you don’t want.

Donate: You won’t make quick cash from donating the stuff you don’t want, but you will have a tax write-off for next year. So anything you uncover during spring cleaning that doesn’t sell at the yard sale, considering giving away to charity. Just because you don’t need it doesn’t mean someone else won’t!

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What to do if You Need a Tax Filing Extension

April 13, 2010

April 15 is Tax Day in America. That’s your last chance to file your tax returns to Uncle Sam. Or is it? There are ways to get a tax filing extension. Here is what you should do if you need one.

Ask the Government for More Time

If April 15 just isn’t enough time for you to get your tax return submitted, ask for an extension. While an extension may give you six more months to file your return, keep in mind that it may not get you out of having to pay penalties. To ask for more time fill out Form 4868, also known as Application for Automatic Extension of Time to File US Income Tax Return.

Submit Form 4868

Once you fill out Form 4868 you must submit it to the Internal Revenue Service. You can either do this electronically or by mailing in the form. You must ask for an extension before the April 15 deadline passes.

Determine if you Qualify

Certain people will not necessarily have to pay penalties when filing a late tax return. Determine if you qualify for an automatic extension. If you are a US citizen, but outside of the country during the April 15 deadline, you are allowed two additional months to complete and submit your return. This means your deadline would be June 15, 2010. By checking the box on line eight you may also be able to secure an additional four months.

Pay the Penalty

Unless you meet certain qualifications you’ll need to be prepared to pay interest and/or a tax penalty for filing late. Taxpayers who do not meet the April 15 deadline must pay interest on unpaid tax. The interest must cover the entire time from April 15 until you pay your tax. You could also be forced to pay a late payment penalty which is .5% of your unpaid taxes. The IRS charges this penalty each month until the payment is made. The maximum penalty is equal to 25% of the tax that is due.

Consider Getting Professional Tax Help

If you’re filing your taxes late simply because you haven’t had time to complete them yourself, or because you’re confused, consider hiring a professional tax preparer. Chances are it will help you get the work done faster and possibly avoid hefty penalties.

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Tax Time Mistakes That Can Cost You Money

March 15, 2010

Whether you’ve already spent your refund or you haven’t started your tax return, this is information every taxpayer needs. There are some mistakes (and we’ve all made them) that can cost big bucks when it comes to tax time. Here are some mistakes to avoid:

Mistake: Keeping Bad Records

Don’t track your work or business expenses? Not sure how much you spent making your home more energy efficient? No idea what you paid for medical expenses that your insurance didn’t cover? Not keeping good records can cost you big time when it comes to filing taxes. You need good records to be able to qualify for the maximum amount of deductions.

Mistake: Not Holding onto Documents

Think you only need those W-2s or 1099s for April 15? Think again. If you get audited, not having those tax documents will create a big headache for you. Financial advisers suggest keeping them for up to seven years just in case. You’ll also want to hold onto other things like check carbons and bill receipts.

Mistake: Not Separating Business and Pleasure

If you own your own business, this is a biggie. It’s very important to keep your personal expenses separate from business expenses. This will save you a lot of time– and money– when it comes time to file your taxes.

Mistake: Not Reviewing Tax Documents

Simple mistakes like inverting a couple of digits on your social security number can create a big hassle. Not only could it delay any refund you are getting, but it will cost you time to straighten out. Take a few minutes to double check all tax documents before sending them in to Uncle Sam.

Mistake: Waiting Until April 14 to Do Your Taxes

Just about everyone procrastinates, but when it comes to taxes it’s a bad idea. Don’t wait until the last minute because rushing can lead to mistakes. And if you end up filing late you could face a penalty. If you haven’t started working on your taxes– do it. Hire a professional if you need to, but don’t make another mistake by waiting until the last minute.

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Loan Payment Protection Plans: Do You Need One?

March 4, 2010

Do you ever worry about what might happen if you can’t repay a loan? Loan Payment Protection is basically like insurance on your debts. You can sign up for them from various financial companies.  It’s an additional service that will cover you should you be unable to make your loan payment due to not being able to earn a salary for the following reasons:

  • Accident
  • Sickness
  • Unemployment
  • Death

Typically when you have Loan Payment Protection and you find yourself unable to pay, you will be covered for a set time period, such as twelve months. So how do you know if a Loan Payment Protection Plan is right for you? Here are some of the situations where purchasing this product could be a good move:

You have job uncertainty. Layoffs are happening in a wide variety of fields, all over the country. If you’re worried about losing your job or fear that your company could close, then purchasing a Loan Payment Protection Plan could be a good move that offers you peace of mind.

You work in a dangerous field. Are accidents common in your line of work? If there is a chance that you could be injured and unable to work, then you may want to consider opting for a Loan Payment Protection Plan. Obviously no one is immune from the possibility of having an accident, but this is an especially important point to consider if you’ve got a risky job.

You have poor health. If you fear that your health could keep you from working in the future, then a Loan Protection Plan may be a good move. The last thing you want to worry about when you’re sick is repaying your loans and if your health is not good, earning a living is tough.

The bottom line is a Loan Payment Protection Plan is an investment and before committing to it you need to review your options. But it can definitely offer peace of mind to anyone paying off a loan.

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Ten Easy Tax Tips

February 15, 2010

Ready or not tax season is upon us. As your W-2s start showing up in the mailbox and commercials for tax preparation service begin bombarding you, make sure you are taking the right steps to get your biggest refund possible. Here are ten easy tax tips to help you get there.

1. Get Organized: Don’t wait until the last minute to get your taxes filed, and certainly don’t wait to get organized. Start gathering receipts and documents you’ll need to get the job done.

2. Lookout for W-2s:Tax documents including W-2s are probably showing up in your mailbox. Do yourself a favor and keep these all together in a safe place. When it comes time to do your taxes you’ll be glad you did.

3. Visit IRS.gov: In order to stay informed about key deadlines, news updates or scam alerts, make sure you’re visiting IRS.gov during tax season.

4. Get Free Help:Did you know the IRS gives out free tax software for qualified taxpayers? If you earn less than $57,000 a year you may qualify for this freebie. Checkout IRS.gov for more information on Free File.

5. Hire Someone You Trust: It doesn’t matter how much you pay a tax preparer– you’re still responsible for your tax return. Make sure the person you hire to help you is someone you trust to do the job with honesty and accuracy.

6. Try e-Filing: If you haven’t tried e-filing your taxes yet, make 2010 your year to do it. It’s a great way to save paper and save time.

7. Have Refund Directly Deposited: You won’t have to worry about your check getting lost in the mail if you opt for direct deposit. Plus you’ll get your tax refund much faster.

8. Don’t Rush: You’ve still got plenty of time. Don’t rush to send in your tax return. Make sure you take the time to review it completely so there are no mistakes.

9. Call for Help: Feeling overwhelmed with y our taxes? You can always call the IRS for help. You can reach their customer service department at 800-829-1040.

10. Make Copies: Always make copies of your tax return before sending them in. If you’re e-filing, make sure you print copies as well. That way you’ll always have a back-up in case you need it.

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