Monthly Archives: October 2008

Cheap unsecured loan – A risk free finance to overcome financial hardship

In the loan market, only those loans appeal that comes with attractive interest rates and lucrative terms and conditions. You will definitely get a lower interest rate if you are ready to pledge your property as collateral against the loan. But many people either do not have any property or they do not want to attach it because of the associated risks in case of any default in the repayment. For these applicants, lenders have come with cheap unsecured loans. With the help of these unsecured loans, you can obtain the finances at very cheap rates and that also without putting anything as collateral. Once you have got the finances, you will have no problems in getting cheap loans, compare credit cards, mortgage.

Cheap unsecured loans do not require any kind of assets to be pledged as a security. This allows people to get the loans without undertaking any risk. These kinds of loans are beneficial to tenants and non homeowners. You can use the loan amount to pay off the existing credit card debts, mortgages and other loans taken in the past. Or you can do home improvement, car purchase, education financing, marriage, clearing outstanding debts etc.

Since there is no collateral involved in cheap unsecured loans, the loans get approved instantly due to its fast processing. The loan amount is issued on the basis of your income and repaying capability. So you should be ready with documents that prove your income and employment status, credit reports etc. These loans can be paid back within a period of 6 months to 10 years.Cheap unsecured loans can be obtained at lower interest rates by a variety of lenders. The presence of a large number of lenders and the intense competition among them has made it possible to get the loans at the lowest interest rates. You can find a variety of lenders be it traditional or online. The online lenders provide lower interest rates than the traditional lenders. Applying online is cost effective as there is no processing fee to be paid. Since life has got so busy, so you should be definitely able to save a lot of time and energy while applying for these cheap unsecured loans on the internet.

Cheap unsecured loans help you to fulfill all your financial needs at the best possible terms and conditions. You don’t have to be worried if you have a poor credit history or not having any assets, you can certainly get approved for cheap unsecured loans and compare cheap loans, compare credit cards, mortgage offers from a variety of lenders.

Helpful tips to avoid the identity theft during the 2008 tax session

The recently passed federal economic stimulus package has not only been beneficial to the US economy but it has also given a boost to the industry thieves stealing identity. According to the IRS announcement, 130 million Americans will receive tax rebates this year and this has given the chance to the scammers to earn extra cash. They want to lure the Americans to disclose their sensitive personal information.

The “phishing” tactics can take a variety of forms. The most common form is a scammer pretending to be an IRS employee and sending emails or making phone calls to the consumers. The scammer will promise a sizeable rebate if the taxes are filed early in the year. They will try to get your bank account number if they get you in their trap. The consumer needs to be smart on the facts and follow the proper precautions.

Here are few helpful tips before you are preparing your taxes for the year 2008 and avoid identity thefts:

  • Beware of phishing scams. IRS will never contact the consumer by email or phone to request sensitive personal information. If someone calls you and represents from the IRS, file a complaint with the Anti phishing Working Group and contact the IRS immediately.
  • Avoid shopping mall kiosks or pop up preparers who offer to assist you with tax preparation. You don’t want to hand over your personal information to someone whose background and experience is unfamiliar to you. Ask a trusted friend to introduce you to his/her tax preparer or consult a local CPA association for trustworthy members.

Careful tips when filing taxes electronically:

  • Avoid using wireless networks. Data in the wireless network is transmitted over open airwaves, similar to a radio transmission. The data transmitted is not secured and it can be picked by an uninvited party.
  • Don’t prepare your taxes on a public computer. There are key logger spy ware which tracks all information including passwords and account information. Identity thieves use the key loggers to steal your personal information entered into the computer during the session.
  • Keep the record of the tax claims as long as it is necessary. Purge the data once the need for it has expired.

Filing taxes by mail:

  • Don’t put your completed claim in an unlocked mailbox for pick ups. Instead, go to the post office and post your claim.
  • Send the claim through certified mail with return receipt requested for delivery tracking. That way you will be sure that your information has reached to the IRS safely.

You may also choose to have the IRS deposit your tax rebate directly to your bank account to minimize the risk of identity theft.

Your credit scores impact on your credit potential

Your credit score decides your potential of getting a new loan from your credit lender. The three digit credit score will decide how much is going to be the cost of your loan. If your credit scores are high, the lenders will consider you as a low risk to their finance. This means that you will get competitive interest rates.

There are other factors that determine your potential of getting a loan besides your credit scores. The property that you are using to get the loan, how much equity you have, the cost of the loan that the lender can issue for you are reviewed.

Your credit scores are very important in front of different lenders, merchants, employers and insurance companies. They will understand your financial situation and make suitable offers. Consumers are getting more alarmed when they find their credit scores determining their insurance rates. Insurance companies review your credit scores thoroughly and predict how likely you are going to pay the premiums. This has been helpful to them to cut their losses. They use a slightly different formula from what your banks and credit grantors use to determine your credit potential. They call it an “insurance score”.

The way the insurance company have been reviewing the credit potential of the individuals is under scrutiny all over the nation. Many states have passed laws to restrict this practice. Washington, Utah, Idaho and Maryland have already done so, and 20 more states are considering it. Check your state’s department of insurance website to see the laws of your state.