State House Faces Short-term Lending Program House Bill 2191

There is a kind of short-term lending program being considered as of the moment by the state House. The lending program involves a 14-day, $300 loan together with approximately $42.50 of fees and interests.

The House Bill 2191 is dubbed by supporters as a consumer protection measure. In contrast, it is considered as a bankruptcy by design by opponents because some banks in the state are offering two-week or payday loans with 369 percent of percentage rates every year.

Last May 8, the meeting was held and one of the members of the House Consumer Affairs Committee who voted in support of the bill was State Rep. Gene DiGirolamo. However, although he voted yes, DiGirolamo still have a few worries about it and is still contemplating whether or not it suits the people of Pennsylvania. He added that voting in favor of the bill does not indicate right away that it is supported by a representative.

The lending bill was co-sponsored by State Rep. Frank Farry. He said that there are worse loan programs offered through other countries and states than the bill.

According to Online 1-Hour Loan, a company based in California, the bill links borrowers to banks that offer fees ranging from $15 to $25 every $100 loaned for 1 to 15 days or more. Consumers can loan up to $1,500 and should earn a minimum of $1,000 every month. In addition, the company said that bad credit is not a hindrance in getting a loan.

On the other hand, there are also critics of the House Bill 2191. One of them is the Keystone Research Group.

Moreover, the Navy-Marine Corps Relief Society feels the same way. In fact, it thinks the bill will be mostly risky to retired sailors, Marines and their respective families.

Also, credit counselor Joan Reading said that any kind of short-term lending is opposed by the Credit Counseling Center of Bucks County.

What You do Not Know About Student Loans

Education is believed by many to be the most important element to succeed in life. This is the stepping stone to get a high paying job and live a happy, carefree life until you retire.

Many American citizens have realized the fast growing tuition fee rates which have overtaken the price on necessities and even some family’s payrolls. The amount that individuals loan for student tuition’s has even exceeded the amount of automobile and credit card loans in the industry.

There is one very important fact that you should put in your mind if you are a student that is never to get yourself into debt. For instance, if you cannot afford tuition in the most prestigious law school like Yale, then it would be too ambitious, not to mention foolish in your part to take on loads of credit card debt just to enroll in the school. The future is always uncertain, what if your plans do not turn out the way you wished and instead of graduating as one of the best law students in the world, you are overwhelmed with debt and bad credit.

Other piece of advice for schools, if you keep borrowing money from financial institutions because you think increased tuition fee rates will take care of them in the near future, then be warned. Though the tuition in schools have increased by 7.45 percent in the past ten years, according to the American Council of Trustees and Alumni, the students that are enrolling have also dropped in numbers by about half compared to before.

Public schools usually have to deal with parents who can complain and demand for more value in the tuition they pay the dean and their money usually go to foot-ball stadiums, or other sports or other visible projects. In private schools though, it is not the case, the school and the students are more into the curriculum, the laws and the priorities of the students and the school. But even so, they are more dependent on federal loans and more prone to criticism from the public.

Today, schools are asking more charges from their students, and the more they ask for these charges the more loans are available for the students. The students fall into debt but the schools, get their money without worries.If only schools can be bridge that handles the loans of students and the government, make the students accountable to the government so that they do not run off with a huge debt unpaid.

Your Credit Card Can Get You Travel Discounts

If you want to go for a vacation, then you will have to find ways to be frugal with your money so that your vacation does not turn into a leech that would keep sucking your money dry off your wallet.

Many American citizens would drive to their vacation destination instead of taking a flight;some would even stock foods and chips in their bags so that they could save on the cost of food. It even comes to the extremes that people would stay in a hotel that offers free breakfast and partition the meal to last until supper.

You should not be among these poor unfortunate individuals, grab a chair and your credit card agreement. Though you may be fully aware of the discounts you can get for an airline ticket and your money back rewards, you may be unaware that you have other perks that can make your vacation a wallet friendly one.

According to Bill Hardekopf, the CEO of LowCards.com some credit cards offer insurance for car rentals, if you want to avail this perk then you have to decline the insurance that the rental car supplier will offer. Then you have to pay the whole rental fee with your credit card.

You should also read the cover of your credit card, for it may only be limited for you and not include your spouse or friends.You should also look at the policy for the car’s loss of use.

Another perk you can get is with your baggage. If you purchase your airline ticket with a reward card, then it will cover one luggage bag. If you are afraid your bags might get lost on the way to the hotel, then you can get lost-luggage insurance.

Furthermore, your card can avail you a concierge service, this will not only get you the reservations you want in restaurants, it can even get you tickets to sport games and other entertainment events like concerts happening in the area.

There are other things that your credit card can provide you with. You just have to be keen and smart enough to discover them. Emergencies and assistance and even currency conversions may be among the perks. Use your card to your advantage and enjoy your well deserved vacation.

Wedding Season’s Here

Summer is here and love is in the air! Though most weddings still occur on New Year’s Eve and Valentines’ Day, summer is dubbed as the wedding season because of the mass weddings that American couples would hold on the month of June and July (but not on August though).

However, weddings could be financially challenging for couples not to mention that after marriage the couple would have to share everything and by everything, this includes debt. Though, it still would depend on how the couple would manage their finances as partners that would determine the outcome of the marriage;may it be a good and happy one or a bad one.

But before anything else, there is good news that couples must hear. Whatever debt your future husband or wife has in the community’s property, will not come to haunt you. This sacred oath, as many call it, does not make you liable for all your spouse’s debts. It is illegal for collectors to force you into paying your partner’s loans, mortgages, or any other debts that he made on his own name and before your marriage.

If your partner has bad credit then it will not be a problem for you, unless you apply for a co-creditship of course. If you apply for a credit together then your credit score will merge and literally, what is his will be yours too. Though you can get rid of this bond legally in the future, it is very advisable that you avoid it in the first place since it could be a very irritable and time consuming effort in the future.

Now you heard the good news, let us proceed with the not so good one. If the creditor gets hold of a legal document from court he can confiscate anything that belongs to your partner, or any assets that both of you have such as bank accounts, property, house and other buildings. If your partner has shaky credit, be extra careful of co-signing an agreement to get a joint-property because not only can his personal things be taken if he falls into debt, you will be going down ruined, with him. Once you purchase a property and someone has their name in the document with yours, he or she is considered as the co-owner of the property, and this gives the creditor legal right to take anything that you own too even if the debt was not you’re doing.

To make things worse, those vows that wedded couples take for richer or for poorer are not just mere words. In most of the states even including Nevada, those who make this vow would have to pay for the expense of the other. The most expensive of these fees is one’s medical debts. Even if you are separated for years, you will still be responsible for your partner’s medical care.

Before you two get into a marriage it would be wise to not just plan about the wedding arrangements. Your future plans 50 years from after the marriage would be a wiser topic to discuss.

Most Asked Questions About the VA Loan

VA is a popular loan program for United States citizens, every week, the agency receives plenty of questions from their customers and this article composes the some of the most frequently asked questions by clients.

Many Americans inquire the agency about tips on how to cope up with bad credit. Well, this is what you should do: though this is might pose as a problem for many, in order to qualify for the VA’s loan the military household must have a FICO credit score of 620 or better. But if the individual who is applying for a loan has ever filed bankruptcy in the past, then an arrangement can be done with the agency.

The agency does not turn its back on poor credit clients; rather they become a strong partner with these citizens and help them back on their feet. The agency aids these applicants to qualify for the loan and repair their credit status.

Another query is about a spouse or a family member that has bad credit. To make it easier for the household, it is advised by the agency for a solo borrower to surface instead of having a co-borrower that has a bad credit. If ever you want to have a co-borrower then your credit scores must add up to at least 620. It is possible to have a solo borrower obtain a loan but he must be able to qualify all the criteria of the agency and afford the loan payments.

If you are wondering what you can purchase with a VA loan then you should know that it can be used to buy a primary residence. A vacant lot and other business or commercial related properties can also be bought with the loan. You can even buy a newly constructed property, but this is limited only to some land owners and money lenders.

So now, how much is a VA loan? VA loans usually just caries with the market. If you are an applicant you can usually get the loan interest rate before the approval process.