Month: December 2015

Did Financial Services In South Africa Save Us During The Recession

Posted by admin on December 25, 2015

Banks and financial services in South Africa play an important role
in the upkeep of our economy. The financial system of a nation will
determine how successful the country is. During the recession that
rocked the world, South Africa did fairly well in the sense that we were
not hit as hard as Europe and America. This meant the amount of people
who lost jobs was kept at a minimum and the country did not lose as much
money as predicted. This was evident in the middle of the recession
South Africa was spending billions on the soccer world cup. How was that
possible?

Firstly, we had one of the best financial ministers
in the world, Trevor Manuel. From the moment Trevor Manuel was elected
Minister of Finance in South Africa we saw continuous growth of our
economy. We are even part of the BRICS Nations, which consist of Brazil,
Russia, India, China and ourselves. Experts believe that the only thing
that holds us back is we have a smaller population than those other
BRICS countries.

Secondly, I believe the way Trevor Manual went
about running the Ministry of Finance was outstanding. He employed the
best staff and consultants to help him transform the Ministry of Finance
into what it is today. It has become South Africa’s best functioning
ministry. The National Credit Act sparked the development loan
administration software and other technology used in financial services.
This is the technology that determines how a person acquires loans from
banks and prevents over-indebtedness of consumers.

Now
that the worst of the recession is over we need to implement ideas that
will prevent a future crisis. I believe we need quality leadership, we
need to improve on the technology we have, improving financial service
software development is one of the ways of doing this. This will allow
us to stay ahead of the game using technology to keep our financial
system in the black. Consumers need to save more and spend less. The
recession was largely caused by bad debt, so less debt will prevent
future problems. If we work together the country has nothing to worry
about.

Get Instant Financial Help from Professional Financial Services

Posted by admin on December 24, 2015

It is not certain that you will never face financial crises in your
life. You may be a successful business identity having lots of money and
savings or a government job holder. However, you do not know about the
day when all the pleasure of life can be abolished due to the reason of
some sudden misfortunes that happens. Here, you need to consider that
life does not get stand still. In fact, life requires some maintenance
in this situation. You need to never lose your hope and take care of
your family members depending on you. Obviously, you cannot be free from
this rule of life and that is why you need to earn impulsively. If you
are also facing the problem of economic crisis then you need the support
of one who can make you able to feel better regarding making the
economical surrounding strong. If this is the thing then professional
financial services can surely help you in a perfect manner.

At present, there are a number of professional
services helping people economically when they are in need of money the
most. When it comes to these services, it only thinks for the best of
their clients and understand their situation in an appropriate manner.
While people face the distress situation in their life, these types of
services show the right path through which they can get just right
destination in order to earn their living. The experts of financial
service not only find out the drawbacks of the customers but also they
find out strong points in customers. If, in the family of a person
someone is dead or for the purpose of treatment, huge amount is spent.
Thus, people need to have an impulsive help financially for smooth
livelihood. If the same situation is with you then you need to take
support of the financial services easily available, these days.

There
is no doubt that you can surely get good monetary support from
professional financial services. The experts of financial services help
clients when they need urgent money for any reason. In order to get the
financial services, you need to pay cash. However, you must pay the cash
only when the experts of these services are securing you with impulsive
cash offer. At the time of verification, you need not to pay any cash
to them. So, what are you waiting for? Avail the benefits of financial
services and say bye-bye to financial crisis!

Can Mortgage Borrowers Take Advantage of Headline Deals

Posted by admin on December 15, 2015

Despite the Bank of England Base Rate continuing at a record low and
mortgage rates falling to record lows, millions of UK homeowners are
still finding it difficult to meet the criteria required to benefit from
some of the market leading mortgage deals.

Lending institutions continue to be criticised for
their stringent affordability criteria and also for increasing the high
fees that must be paid to secure some of the best rate deals. However,
some experts think that paying higher fees for lower interest rate deals
may actually be a good long-term solution, especially for some high net
worth mortgage clients. Keep reading to learn more.

High value mortgage clients can benefit from paying a higher fee for a better deal


The UK government’s Funding for Lending and Help To Buy schemes have
enabled high street banks, building societies and other lending
institutions to access cheap funding in return for their lending more
readily to private individuals and small businesses. However, opponents
of these schemes are of the opinion that they only work for those with a
substantial amount of equity in their homes already and they do not
help those whom they were designed to help i.e. first-time buyers
seeking a mortgage.

Figures reveal that average two-year
fixed-rate mortgages have fallen significantly for those borrowing 75
per cent or less of their new home’s cost. But borrowers who require 90
per cent of a home’s value are still paying more; in some cases up to 1
per cent more for their borrowing, ironically the people who can
arguably least afford it and who the government schemes were supposed to
help. All of this while some lenders are now offering some of their
cheapest-ever mortgage deals, with the proviso that the borrower can
meet the stringent affordability criteria.


However, the best deals are available to those mortgage clients who
have at least a 40 per cent deposit, or equivalent equity in their
current home. But although there are extremely attractive rates for
those with substantial deposits the associated arrangement fees have
been steadily increasing with some fees pushing 2,000.

Experts
are also warning those borrowers considering a fixed-rate deal,
especially one as short as 2 years, to check what the rate will be once
the fixed rate period expires. For example, some two year deals around
the 3 per cent mark will almost double after the end of the fix period
so dramatically increase the monthly repayment amount on the mortgage.


Mortgage deals with high arrangement fees but a lower rate may make
these products seem less attractive for borrowers with a small mortgage
but high value mortgage clients may actually benefit from lower rates
and higher fees over the life of the mortgage. So it is always essential
to look at the overall cost of the mortgage not just the initial
headline rate; take into account arrangement fees and the reversion rate
one any fixed rate period is over. These high value mortgage deals
show, more than ever, that high net worth finance clients should take
all the fees and charges into account when choosing a large mortgage.

The Majority of People Fail to Grasp the True Cost of Their Mortgage

Posted by admin on December 15, 2015


The mortgage fees and charges applied by banks and building societies
are not always as clear as they could be and many people do not
understand exactly how much a mortgage will cost them over the lifetime
of the loan. Many simply ficus on the monthly repayments and the
interest rate they are paying. Yet research has revealed that only five
in a thousand people in the UK understand the true cost of their
mortgage deals. The survey by which found that a staggering 99.5 per
cent of borrowers failed to grasp all the costs involved with the
average mortgage deal.


Lenders are being urged to change the way they communicate their
mortgage fees as a result of this research from the consumer group.
However, the data is not wide ranging as it only looked at 2-year fixed
rate deals based on a 100,000 home loan but it did indicate that the
average consumer found it difficult to assess which was the cheapest of a
range of deals because of the lack of transparency in the fees and
charges and this is what is of most concern.

Whilst the results
varied depending on the type of borrower questioned, the survey
nevertheless showed that only a minority could correctly order 5
mortgage deals from most expensive to least expensive so this is
worrying research as it clearly shows that most borrowers find it hard
to work out the total cost of a large mortgage deal taking all costs
into account.

Sometimes the deal with a higher arrangement fee
can work out costing less and sometimes the deal with the lowest
interest rate is not the cheapest. It, obviously depends on the level of
mortgage you want to take out, the interest rate basis (fixed, tracker
or standard variable) and the mortgage term. It is often worth taking
specialist advice to establish which is the best deal for your own
personal and financial circumstances


On the whole mortgage borrowers find it difficult to accept that a low
interest rate deal is not necessarily the cheapest; a typical borrower
is still attracted by the headline rate rather than by the overall cost.

Nevertheless, lenders should be more transparent when showing
their charging structures so that borrowers have the opportunity to more
easily compare total costs rather than simply headline rates. This is
so important because more than 80 per cent of the thousands of mortgages
available in the UK include arrangement fees or other types of fee. And
mortgage arrangement fees have been rising rapidly over the past 2 or 3
years.

Many of the very low mortgage interest rates now on
offer can seem very attractive, as indeed some are, but the flip side of
those low rates is that big mortgage arrangement fees are being
imposed. These fees have risen dramatically,making it even more
important for borrowers to understand the cost of their mortgage over
the lifetime of the deal, especially those with large mortgages that are
likely to incur higher charges. If people are struggling to understand
such an important financial commitment them lenders should be doing more
to help clarify the costs.

Debt Reduction Planner To Help You Pay Off Loans in Easier Way

Posted by admin on December 14, 2015

Debts can be daunting especially when you find that the statements
are just rolling in with no end sight. Well, if you are in debt, you
should stop panicking and prepare yourself to get rid of them. Just calm
down and say to yourself that this is not going to happen overnight,
but you can speed up the process and stay calm by strategizing a plan
and sticking to it. If you find yourself overwhelmed, you can seek
professional assistance. There are many professionals and companies that
would help you stay organized and manage your finances with a debt
reduction planner.

There are websites that can help you plan out with
the help of the tool they provide on their website. You can fill out the
details of your debt and figure out how you would get rid of your debts
by putting in figures that can help you manage your finances properly.
The calculator will help you find out how long it will take for you to
get rid of your debts by making minimum monthly payments. You can also
lower down the number if you want to use a fixed payment option. This
will give you an outline of the time within which you will be completely
debt free.

However, the debt reduction planner can also help
you get rid of the debts faster. You can do this by filing out the form
provided by the tool by asking how much of the repayment amount you need
to make if you want to chuck out your loan within a certain period of
time. The tool will help you find the amount that you need to pay every
month to achieve your goal. You might be surprised that if you manage
your finances properly and in a planned way you will be able to pay off
your loans faster than you might have calculated.


Besides working out strategies of how to pay off your loans with the
help of debt reduction planner, you can also pay attention to other
aspects so that you are able to reduce multiple debts in a timely
manner. Simple changes in lifestyle can help you get rid of your loans
easily than expected. Limit your spending by avoiding dining out in
restaurants, clipping coupons or postponing holidays because these can
make huge differences and will have a great impact on your debt amounts
without even making any major change in your lifestyle.

Helping You Out Of Your Debt Nightmare

Posted by admin on December 14, 2015

Helping You Out Of Your Debt Nightmare

Debts may be crushing you and you may not know where
to turn or who to go to. You might have got loans off friends and family
to cover credit cards, gone to short term loan companies sold your gold
and taken your possessions to highstreet pawnbrokers and still be
nowhere close to paying back what you owe and those debts just keep
mounting up.

It’s a horrible position to be in yet more and more
of us find ourselves in just this situation. But don’t worry, there is
always a solution to any financial problem and all of them are better
than jumping every time the phone rings or there is a knock on the door
and feeling anxious just getting out of bet and facing the morning’s
post.

Who Can Help?


You may have suddenly realized that your debts are much bigger than you
expected and you’re concerned that you don’t know where to find the
money. If your debts have mounted up so much that you can no longer
afford to pay your utility bills, rent or mortgage or meet the minimum
charges for your credit cards then you are in what is termed ‘debt
crisis.’

Debt crisis sounds terrifying, being in a position
where you stand to loose everything you own can’t be a nice place to be
but it’s not too late to get help. The first thing you should do is
approach a debt counseling service. They will be able to go through all
of your options including repayment plans, budgeting, dealing with
creditors and recovery agents such as call centres and bailiffs, even
declaring yourself bankrupt and letting receivers and their trustees
deal with your problem. Whether you’ve been frivolous with credit cards,
gambling, lost your job or have had relationship problems which have
seen you separated from someone upon whom you were financially dependent
you’re not alone, just admitting that you need help and actively
seeking it will start to make you feel better and once you find that
help you’ll start to see a light at the end of the tunnel.

Professional Financial Services Help You Reap More Benefits

Posted by admin on December 5, 2015

The project deals with the concept professional financial services.
The project deals with the role played by the various institutions.
There are many companies which work whole heartedly towards customer’s
satisfaction. They buy financial contracts for automobiles which can be
both used as well as new, trucks and motorcycles manufactured by various
dealers. Not only that they also provide services to doctors, lawyers
and other professionals associated in various professions by providing
mortgage service and free financial service. The main function of these
companies is to mortgage funds for those who did not get his fund back
for a long time. These people have direct access to many of the mortgage
schemes and products which would be helpful enough in solving the
various problems of the customers. These companies provide free service
to many professionals thus assisting them in their financial planning.

There are many other companies throughout the world
who provide professional financial services to its customers. They
provide the best service in the industry as they listen to the customers
properly. They try to delve deep into the problems of the customers and
the kind of services they require. They collect various kinds of data
to ensure that proper facilities are provided to the customers in terms
of service. For that they collect assets, liabilities, statement of
income, data regarding the benefit of the employees, insurance plans
regarding the business and personal need, legal documents and
statements, legal agreements and tax returns.

After gathering
information about the customers, the companies prepare reports regarding
the data they have received about the customers and the areas of
problems are highlighted. These problematic areas are then discussed in
detail by the companies along with the customers in order to reach a
particular solution which should be according to the benefit of the
customers. A financial statement is prepared where a detailed analysis
regarding the allocation of investment is mentioned much to the facility
of the customers.

The
background information is important as it provides the necessary
information regarding the status of the client and hints at the
problematic areas of the client. The client gets to know a lot about the
new plans and strategy taken by the company to solve the problem of the
customer. There is the facility of in depth discussion with the client
regarding the problems and the solution to their problems.

The
companies also prepare retirement plans which will help in the benefit
of the individuals as a whole. These plans are made keeping in mind the
security of the individual.

4 Tips in Dealing with Debt Collectors

Posted by admin on December 1, 2015

It’s something every consumer dreads: a call from a debt collection
company asking about unpaid credit bills, student loans that are past
due, or a medical debt that has been forgotten about for months.

Credit counselors, state regulators and debt
collectors all agree on one thing: ignoring a debt collector’s phone
calls and letters is not going to help get rid of the debt. The only way
to really stop them from bothering you is to deal with the debt,
otherwise, it will only get worse.

Here are 4 tips for consumers to help deal with debt collectors.

Avoid them altogether

Contact
your original creditor to work out some kind of payment plan that you
can handle with your current financial situation. Most financial
institutions are open to customized payment plans especially if their
clients request for it. If you don’t contact them, they will sell the
debt to a 3rd party credit or debt collector.

Know your rights

This
might just save you from paying thousands of dollars. The FTC or
Federal Trade Commission has a collection of publications made to help
customers learn about the Fair Debt Collection Practices Act, a law that
protects their rights-under the act, nuisance and harassing phone
calls, abusive language and threats are illegal.

These
should be taken note of and reported to your state’s attorney general’s
office and the FTC. Debt collectors usually have a debt collection
lawyer in California working together with them. Try to ask for the
contact information of the lawyer so that your lawyer can personally
send a complaint to him or her.

Never ignore these phone calls and letters

You
have to reply or work on these notices right away. You have the right,
according to law, to write or call in for a copy of a verification of
the debt being asked from you. Make sure that the debt being collected
is actually yours. You also need to make sure that it’s not old debt.
You could have paid that amount already and the debt collection lawyer
in California is using old data from your original creditor.

Get a lawyer

You
can’t do this alone. It’s easier to get a credit lawyer to help you out
with the situation. They know everything about the system so any
loopholes and problems found in your case can be fixed. You also end up
saying money if you get a lawyer since they will check the debt if it
matches to how much you really owe.