In response to the incredible rise in mergers and financial transactions all over the world, MBA in Finance has turned out to be one of the hottest streams of MBA fields. Students from this MBA stream are taught subjects which are related to Strategic Financial Management, Security Analysis & Management and Taxation Management. But on the other hand MBA in HR has also gained much significance. Possibly as one of the much popular alternatives for the MBA graduates, MBA HR along with MBA Finance has gained much popularity. The students of HR study subjects like Human Resource Development, Human Resource Planning and audit, Performance Management study, Contemporary issues of human resources at work and Strategic and Workforce Planning.
In additional to HR and finance, there are number of other MBA streams like International Business, E-commerce, Information technology, Marketing, Insurance, banking, hospitality management etc.
One might wonder at times as to how MBA in HR or finance helps an individual in his career? MBA in Finance is now days one of the most desired and opted specialization by the students who desire making their career in this MBA field. Specialization in finance is amid the most favorite ones among the students now days as it is widely demanded by the corporate sectors. The changes in the global economy have made finance the most favorite subject for students and a necessity for the employees of corporate sector.
With open market policy gaining significance, the number of MBA Finance students has increased to great extent. Students with specialization are possible to search employment in various industries like investment, banking, and stock market and so on. The growth in stock market of India has also opened a wide avenue for the finance students of MBA. The progressing stock market has produced great demand for MBA streams like finance and insurance, hence forth giving more scope to careers like portfolio managers, equity advisors, financial experts and stock brokers.
Another upcoming demand of corporate sector is MBA HR as they want candidates who have specialization in this particular field so that they can handle the challenging and intellectual work easily and efficiently. The HR program is for 2 years and is provided by almost all colleges in India. The main topics which are taught in this field are Psychology, Organizational Behavior, performance appraisal, ethics in establishments, winning across cultures, management applications, team building, negotiation and counseling etc.
The candidates who have pursued their specialization in Human Resources are offered prosperous, attractive and lucrative packages. This sector is undergoing advancement and growth in every aspect with the passing phase, thereby establishing the modifications in HR MBA degree. The management field is generally the one which demands MBA (HR) executives to survive the balance in any corporate sector. Human resources are very important asset of any organization and it is duty of HR executive to look after their needs and well being.
So if you are wondering which specialization is best, worry not. All MBA fields have their own significance and importance. It all depends on the qualities, interest of the respective candidates for what they want to opt for or make their career with.
Wednesday, October 31, 2012
Tuesday, October 30, 2012
Advantages Of Online Payday Loans
Online payday loans are a variation of the traditional payday loan and they are conducted completely over the Internet. As a consumer, using this type of loan can provide a number of advantages that other loans will not. Before getting involved with a payday loan over the Internet, it is important to consider some of these benefits.
Convenient Application Process
One of the biggest advantages of doing payday loans online is that they are easy to apply for. The consumer does not even have to leave his home in order to apply for this kind of payday loan. He also does not have to worry about business hours or locating a payday lender in his local market. He simply gets on the computer, finds a payday loan website, and then starts applying. Typically, the application is not very complicated either. The borrower will have to provide some basic personal information like his name, Social Security number and address. This is often much easier than applying for a loan at a regular bank.
Fast Approvals
Another big benefit of getting involved with this type of loan is that the approvals are very fast. Instead of having to wait days or weeks to find out if he is approved, the borrower will typically find out within a few minutes. In many cases, as soon as the borrower submits the application, the site will determine if he is approved.
Quick Access to Money
In addition to finding out if he is approved, the borrower can also get access to the money quickly. As part of the application process, the borrower will include information about his bank account. The payday loan lender will wire the money to the borrower's bank account after he is approved. In some cases, the money will be deposited into the borrower's bank account within an hour of applying and getting approved. This is often much faster than a traditional bank loan scenario.
Bad Credit Approval
One of the nice things about these loans is that they are easy to get approved for even when a borrower has poor credit. With this type of loan, the lender does not typically look at the borrower's credit profile. Instead, the borrower is only concerned with whether the borrower is employed and how much money he makes on a monthly basis. Each lender will have its own criteria for determining how much the borrower has to make on a monthly basis in order to get approved. As long as the borrower's income is sufficient and he does not have a poor track record with the lender, he should be able to get approved for the loan.
No Collateral
Another benefit of using this type of loan is that it does not require any collateral. With some secured loans, lenders require borrowers to put up some kind of collateral to protect their interests. For example, the borrower may have to put up a deposit or attach the loan to a piece of property. Then if the borrower doesn't pay back the loan, the borrower can simply repossess this property to pay for the debt. With a payday loan, the borrower is not required to provide any collateral.
These loans are easy to get and they provide access to funds where other loans may come up short. Borrowers who have bad credit or need money fast should explore online payday loans as an option to consider.
Convenient Application Process
One of the biggest advantages of doing payday loans online is that they are easy to apply for. The consumer does not even have to leave his home in order to apply for this kind of payday loan. He also does not have to worry about business hours or locating a payday lender in his local market. He simply gets on the computer, finds a payday loan website, and then starts applying. Typically, the application is not very complicated either. The borrower will have to provide some basic personal information like his name, Social Security number and address. This is often much easier than applying for a loan at a regular bank.
Fast Approvals
Another big benefit of getting involved with this type of loan is that the approvals are very fast. Instead of having to wait days or weeks to find out if he is approved, the borrower will typically find out within a few minutes. In many cases, as soon as the borrower submits the application, the site will determine if he is approved.
Quick Access to Money
In addition to finding out if he is approved, the borrower can also get access to the money quickly. As part of the application process, the borrower will include information about his bank account. The payday loan lender will wire the money to the borrower's bank account after he is approved. In some cases, the money will be deposited into the borrower's bank account within an hour of applying and getting approved. This is often much faster than a traditional bank loan scenario.
Bad Credit Approval
One of the nice things about these loans is that they are easy to get approved for even when a borrower has poor credit. With this type of loan, the lender does not typically look at the borrower's credit profile. Instead, the borrower is only concerned with whether the borrower is employed and how much money he makes on a monthly basis. Each lender will have its own criteria for determining how much the borrower has to make on a monthly basis in order to get approved. As long as the borrower's income is sufficient and he does not have a poor track record with the lender, he should be able to get approved for the loan.
No Collateral
Another benefit of using this type of loan is that it does not require any collateral. With some secured loans, lenders require borrowers to put up some kind of collateral to protect their interests. For example, the borrower may have to put up a deposit or attach the loan to a piece of property. Then if the borrower doesn't pay back the loan, the borrower can simply repossess this property to pay for the debt. With a payday loan, the borrower is not required to provide any collateral.
These loans are easy to get and they provide access to funds where other loans may come up short. Borrowers who have bad credit or need money fast should explore online payday loans as an option to consider.
Friday, October 26, 2012
Classic Car Investors Can Use A 1031 Exchange Too
If you invested in a classic car several years ago, you're probably patting yourself on the back right now. Collectible car investments have appreciated considerably in recent years, and they are in high demand. But if you decide to sell, don't be surprised when you find yourself looking at a 28% capital gains rate.
The rates for the sale of collectible property are much higher than those on the sale of real estate. So, is there any way to avoid paying inflated capital gains rates on the sale of your collector car? The answer is to make a 1031 exchange. This is a tactic that is often used by real estate investors, but that can be particularly helpful in the sale of collectible property.
By making a 1031 exchange instead of selling outright, you can defer your capital gains taxes indefinitely, allowing that 28% to be reinvested and continue working for you. This is useful for real estate investors, but even more so for those holding personal property for investment. Here are a few things that you should keep in mind when making 1031 exchanges on personal property, such as a classic car or other collectibles or antiques.
First of all, you need to be aware that like-kind requirements on personal property are far stricter than those on real estate. When making a 1031 exchange on real estate, you can, for example, exchange an apartment building for a farm. When making an exchange on a collector car, you can only exchange it for another car, not for a crane or a piece of aircraft equipment. Also keep in mind that it is best to exchange for property of equal or greater value. If you downsize, you will not receive the greatest possible tax deferment.
With the demand for collector cars at an all time high, how can you afford to lose that 28% of your profits? The smart collector will opt to make a 1031 exchange instead of paying the exorbitant capital gains rates.
By making an exchange on your personal property instead of selling outright, you can avoid a huge hit to your returns and maximize your potential profits.
The rates for the sale of collectible property are much higher than those on the sale of real estate. So, is there any way to avoid paying inflated capital gains rates on the sale of your collector car? The answer is to make a 1031 exchange. This is a tactic that is often used by real estate investors, but that can be particularly helpful in the sale of collectible property.
By making a 1031 exchange instead of selling outright, you can defer your capital gains taxes indefinitely, allowing that 28% to be reinvested and continue working for you. This is useful for real estate investors, but even more so for those holding personal property for investment. Here are a few things that you should keep in mind when making 1031 exchanges on personal property, such as a classic car or other collectibles or antiques.
First of all, you need to be aware that like-kind requirements on personal property are far stricter than those on real estate. When making a 1031 exchange on real estate, you can, for example, exchange an apartment building for a farm. When making an exchange on a collector car, you can only exchange it for another car, not for a crane or a piece of aircraft equipment. Also keep in mind that it is best to exchange for property of equal or greater value. If you downsize, you will not receive the greatest possible tax deferment.
With the demand for collector cars at an all time high, how can you afford to lose that 28% of your profits? The smart collector will opt to make a 1031 exchange instead of paying the exorbitant capital gains rates.
By making an exchange on your personal property instead of selling outright, you can avoid a huge hit to your returns and maximize your potential profits.
Wednesday, October 24, 2012
Reasons You Must Double Check Your Van Leasing Insurance Cover
Hiring vehicles has become a great choice for individuals and companies due to its advantage of cutting cost. For example, it assists one in avoiding the enormous capital outlay needed while someone is purchasing a new vehicle. In addition, it presents advantages in tax. However, someone cannot decide on a car leasing agreement blindly merely because it is alleged to present several benefits. One of the most crucial things to examine is the insurance coverage.
Because you did not buy the vehicle, you must not assume it is not your duty. Thus, just like someone who has purchased a vehicle, you should make sure it has the correct cover. However, you should examine the agreement carefully before paying for the coverage. This is due to the cover declared in the document may be more than what you could pay for a vehicle of your own. Thus, you should not merely confirm the minimum liability coverage needed by the state. Or else, you may run into troubles with the lease company.
Remember that the property remains with the lesser even after leasing of the property to the lessee. This is why the companies require the lessee to pay more for cover because they are partly liable in case an accident occurs. By doing this, the company is sure that their investments are not at risk at all. Therefore, the company is able to control its business and maintain stability hence an advantage to the lesser.
One reason why people overpay the lease cover is the tendency to stick to one company. That is why it is advisable to look for information regarding other companies to compare the leasing cover prices. This will enable you to select the company whose cover is of fair price and avoid overpaying. Additionally, you need also to check on changing rates of payment for the cover.
It also necessitates that you scrutinize the coverage costs in terms of whether they are standard or unfair. This will allow you to come up with decisions that will get you a cover with low-fair price. To come up with a suitable decision, carry out research on the deal you require and one that complements the present cover payments.
You can also take advantage of discounts since most companies offer such incentives based on ones driving record, the safety features you have in the car, the number of cars you have among other issues. You should also investigate how your credit score, vehicle type and the age of the driver might affect the cost of the cover.
In addition, perform a detailed search on the model of the car to lease. This is because, the model of the car that you want to lease has an effect on the cost where it can either increase or reduce the price. In addition, the type of car model determines whether there are more chances for the car to be stolen hence having a great effect on the leasing process.
Therefore, with all these issues in mind, you have a good reason to double check the insurance cover before settling for any vehicle leasing contract. Otherwise, a very good deal might be ruined by a poor decision in terms of insurance.
Because you did not buy the vehicle, you must not assume it is not your duty. Thus, just like someone who has purchased a vehicle, you should make sure it has the correct cover. However, you should examine the agreement carefully before paying for the coverage. This is due to the cover declared in the document may be more than what you could pay for a vehicle of your own. Thus, you should not merely confirm the minimum liability coverage needed by the state. Or else, you may run into troubles with the lease company.
Remember that the property remains with the lesser even after leasing of the property to the lessee. This is why the companies require the lessee to pay more for cover because they are partly liable in case an accident occurs. By doing this, the company is sure that their investments are not at risk at all. Therefore, the company is able to control its business and maintain stability hence an advantage to the lesser.
One reason why people overpay the lease cover is the tendency to stick to one company. That is why it is advisable to look for information regarding other companies to compare the leasing cover prices. This will enable you to select the company whose cover is of fair price and avoid overpaying. Additionally, you need also to check on changing rates of payment for the cover.
It also necessitates that you scrutinize the coverage costs in terms of whether they are standard or unfair. This will allow you to come up with decisions that will get you a cover with low-fair price. To come up with a suitable decision, carry out research on the deal you require and one that complements the present cover payments.
You can also take advantage of discounts since most companies offer such incentives based on ones driving record, the safety features you have in the car, the number of cars you have among other issues. You should also investigate how your credit score, vehicle type and the age of the driver might affect the cost of the cover.
In addition, perform a detailed search on the model of the car to lease. This is because, the model of the car that you want to lease has an effect on the cost where it can either increase or reduce the price. In addition, the type of car model determines whether there are more chances for the car to be stolen hence having a great effect on the leasing process.
Therefore, with all these issues in mind, you have a good reason to double check the insurance cover before settling for any vehicle leasing contract. Otherwise, a very good deal might be ruined by a poor decision in terms of insurance.
Monday, October 22, 2012
Start Up Business Financing Alternatives You Must Try Out
To successfully fund your start up business, we recommend that you employ one of the following alternatives:
- A business loan. This kind of loan is often considered the most traditional form of business financing. With it, you can look forward to receiving sufficient funds to finance a business requirement. In return, you will be asked to submit payments to your lender, on a monthly basis, until you can completely pay back the funds you borrowed, plus a reasonable interest charge.
However, you should remember that applications for traditional business loans often take as much as four months to receive approval. And so this might not be the best financing option for you, especially if you need a huge sum of cash to finance an urgent business need.
- A small business credit card. Did you know that there are credit cards especially designed to meet the needs and special requirements of business owners? They're called business credit cards. You can apply for one and use it for covering the bills and expenses you will incur, especially if you don't have enough cash to settle them, right away.
There are two basic types of business credit cards - secured and unsecured. To get a secured business credit card, you need to make a substantial deposit to your target card issuer. This initial cash-out serves two important purposes. First, it guarantees the repayment of your credit card charges, in case of default. Second, it determines the spending limit that will be imposed on your business card account.
An unsecured business credit card, on the other hand, does not come with a security deposit requirement. Instead, it carries strict credit score requirements and steep interest rates. Still, it is worth mentioning that such lines of credit come with much higher spending limits or caps as compared to their secured counterparts.
- An equipment lease. If your business has limited financial resources and you need expensive equipment, such as heavy machinery, vehicles or office furniture then, we encourage you to lease, instead of purchasing, them. Look for an equipment supplier nearby and arrange for a true lease. After all, with this option, you can receive the equipment you need without shelling out a significant percentage of your working capital. Moreover, you can use your business finances for covering more urgent startup costs you will soon incur.
- Invoice factoring. If you're in dire need of cash to settle your financial obligations and to keep up with your loan payments then, we suggest you sign up for invoice, or accounts receivable factoring. In this arrangement, you will submit some of your unpaid invoices to a factoring company, for cash. This will provide you with at most 80% of the sum of cash tied-up with your accounts receivable. The remaining 20% will be given to you by the factoring agency as soon as it receives complete payment from your customers.
Now, to avoid problems, we suggest you carefully select the invoices you will submit for factoring. Look for the receipts from your most reliable customers and file them with your chosen factoring agency. By doing so, your enterprise can avoid getting penalized for payment delinquency or default.
Copyright (c) 2013 Irish Taylor
- A business loan. This kind of loan is often considered the most traditional form of business financing. With it, you can look forward to receiving sufficient funds to finance a business requirement. In return, you will be asked to submit payments to your lender, on a monthly basis, until you can completely pay back the funds you borrowed, plus a reasonable interest charge.
However, you should remember that applications for traditional business loans often take as much as four months to receive approval. And so this might not be the best financing option for you, especially if you need a huge sum of cash to finance an urgent business need.
- A small business credit card. Did you know that there are credit cards especially designed to meet the needs and special requirements of business owners? They're called business credit cards. You can apply for one and use it for covering the bills and expenses you will incur, especially if you don't have enough cash to settle them, right away.
There are two basic types of business credit cards - secured and unsecured. To get a secured business credit card, you need to make a substantial deposit to your target card issuer. This initial cash-out serves two important purposes. First, it guarantees the repayment of your credit card charges, in case of default. Second, it determines the spending limit that will be imposed on your business card account.
An unsecured business credit card, on the other hand, does not come with a security deposit requirement. Instead, it carries strict credit score requirements and steep interest rates. Still, it is worth mentioning that such lines of credit come with much higher spending limits or caps as compared to their secured counterparts.
- An equipment lease. If your business has limited financial resources and you need expensive equipment, such as heavy machinery, vehicles or office furniture then, we encourage you to lease, instead of purchasing, them. Look for an equipment supplier nearby and arrange for a true lease. After all, with this option, you can receive the equipment you need without shelling out a significant percentage of your working capital. Moreover, you can use your business finances for covering more urgent startup costs you will soon incur.
- Invoice factoring. If you're in dire need of cash to settle your financial obligations and to keep up with your loan payments then, we suggest you sign up for invoice, or accounts receivable factoring. In this arrangement, you will submit some of your unpaid invoices to a factoring company, for cash. This will provide you with at most 80% of the sum of cash tied-up with your accounts receivable. The remaining 20% will be given to you by the factoring agency as soon as it receives complete payment from your customers.
Now, to avoid problems, we suggest you carefully select the invoices you will submit for factoring. Look for the receipts from your most reliable customers and file them with your chosen factoring agency. By doing so, your enterprise can avoid getting penalized for payment delinquency or default.
Copyright (c) 2013 Irish Taylor
Wednesday, October 17, 2012
The FDCPA Against Collectors
A debt collector may not be held legally responsible in any action brought under this subchapter if the debt collector shows by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error. In a nutshell, there had to be intent on the part of the collector. A bona fide error is not a willful violation. Alternatively any collector who violates the Act can be held legally responsible for his actions. You have a right to sue a debt collector who has violated the act notwithstanding error. Additionally, an employee of an original creditor does not fall under the FDCPA because the Act specifically states "someone who in the day to day operation of their job- collects debts and is a "debt collector". (Who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another).
Many employees of banks, furniture stores and medical facilities are not debt collectors. The law covers debt collection agencies and debt collection attorneys or even original creditors if. they regularly collect debts in their daily duties "(California statute). - Not all states may support "original creditor exceptions". Remember too that if it is to your benefit, State law can rule over Federal: "a State law is not not in agreement with Federal FDCPA if the protection of such law afforded any consumer is greater than the protection provided by the Federal law". What this means is that Federal always rules if the State law conflicts but just because the State law may offer more protection, doesn't mean it is a "conflict". If the two laws DO conflict with each other than Federal wins. It's called the supremacy Clause and it is found in the U.S. Constitution.
So, if you have been physically abused or abuse by a collector you can take action.
Generally the Fair Debt Collection Act Prohibits:
-You cannot be harassed
-They cannot tell third parties about the debt
-They cannot call you after 9 p.m. or before 8 a.m.
-They cannot threaten you or use scare tactics
-They cannot legally sue you for an expired debt
-They cannot contact you once you put them on notice not to
-They must be able to verify the validity of the debt
People fail to meet their credit obligations for a variety of reasons. These range from over-extension of finances to unemployment and illness. Whatever the reason, every person is protected by the federal Fair Debt Collection methods Act. Congress passed this act to protect consumers from harassment by debt collectors. Personal, family, and household debts are covered under the act. This includes money owed for the purchase of an automobile, for medical care, or for charge accounts.
Mini-Miranda Warning
If a collection agency or collection attorney forgets to add the mini-Miranda in its communications it can result in violations. Any communication with a debtor must always include the mini-Miranda specified by the Act. 15 U.S.C. 1692(e)(11). This notice is usually placed on all dunning letters utilized by collection agencies. For violations see smith v. Trans world Systems, Inc., 953 F. 1025 (6 th Cir. 1992).
Limitations on contacting the consumer
A debt collector may only contact a person between the hours of 8 a.m. and 9 p.m. Debt collectors may not contact the consumer at his job if the debt collector is aware that the employer prohibits personal calls. A person may notify a debt collector in writing if he or she does not want any further contact with the collector. Once this notice has been received, the debt collector must stop all communications, except to notify the person that a specific action will be taken.
Can debt collectors tell someone else about your debt?
No! A debt collector can discuss your debt only with your attorney, a credit bureau, the creditor, and the creditor's lawyer. However, the debt collector can contact other people to find out where the debtor lives or works.
What debt collection methods are forbidden?
Debt collectors may not harass, intimidate, threaten, or embarrass you. Debt collectors may not make false or misleading statements, such as falsely associating themselves with a government office or credit bureau. They may not use misleading or false threats of imprisonment or criminal charges.
Threatening to Take Legal Action
Collection agencies often threaten to sue debtors. The FDCPA prohibits collectors from stating that he will take action that cannot be legally taken or that is not intended to be taken. 15 U.S.C. 1692(e)(5); Case law:Bentley v. Great Lakes Collection Bureau, 6 F. 60 ( Cir. 1993).The FTC has indicated that collectors may not even imply that an action will be taken unless such action is legal and there is a reasonable likelihood at the time the statement is made that such action will be taken.
What to do if a debt collector violates the Act
Keep detailed records of any communication you have with the debt collector. Include time, date, and the name of the person with whom you spoke. Keep a copy of all written correspondence between you and the debt collector. Also, if a debt collection agency orders your credit reports before they have validated the debt then they may have violated the FCRA and the FDCPA. You may sue a debt collector.FDCPA-Sec.. - Civil liability
We have a sample letter for FDCPA violations
We also have a debt collection log sample letter to keep all notes
Read all Consumer Statutes> (opens in new window)
Collection agency laws by state
Restrictions on garnishments
FDCPA opinion letters by the FTC. These letters are a gem!
Locate a collection agency
Statute of Limitations to sue under the FDCPA
The FDCPA provides for a one-year statute of limitations. 15 U.S.C. (d). The limitation period begins to run on the date a communication is mailed, and cannot be extended by the Rules of Civil Procedure. Case law: v. U.S. West Communication, Inc., 967 F.2nd 259 ( Cir. 1992).If you are going to sue for damages under the FDCPA you must do it within one year or forget it.
Can you sue the Original Creditor for FDCPA Violations?
in the vast majority of cases, creditors do not have any liability arising from the FDCPA. However, the term "debt collector" does include creditors who, "in the process of collecting his own debts, uses any name other than his own which would indicate that a third person is collecting or attempting to collect such debts." 15 U.S.C. (6)(A). But... and this may be a long shot, you can try to claim "negligent referral" by an OC who sends the debt to a CA without ever billing you.
What is considered debt validation
This may be one of the most confusing aspects of the FDCPA. Debt validation means to have the CA prove the debt, (1) belong to the right debtor and (2) not already paid prior. Many CA are now fighting back against a debtor's request for VOD because they claim, the FDCPA states they only have to prove it is your debt and not paid prior. This is an area that will definitely need attention from lawmakers to clarify. However, in our opinion, VOD does include proving the debt is valid beyond just showing it belongs to the right debtor. So stick to your guns when requesting proof of the debt because you have an absolute right to make sure the debt is valid in its balance as well as contract information. Be concise in your request for VOD. Don't ramble on and on asking for everything under the sun, because that may not be supported by the FDCPA. Ask for your signature, balance due, posted payments, any credits and date of last payment and activity. These are all valid requests in our opinion and could be effectively argued under the FDCPA for VOD.See this article for more about VOD>
Many employees of banks, furniture stores and medical facilities are not debt collectors. The law covers debt collection agencies and debt collection attorneys or even original creditors if. they regularly collect debts in their daily duties "(California statute). - Not all states may support "original creditor exceptions". Remember too that if it is to your benefit, State law can rule over Federal: "a State law is not not in agreement with Federal FDCPA if the protection of such law afforded any consumer is greater than the protection provided by the Federal law". What this means is that Federal always rules if the State law conflicts but just because the State law may offer more protection, doesn't mean it is a "conflict". If the two laws DO conflict with each other than Federal wins. It's called the supremacy Clause and it is found in the U.S. Constitution.
So, if you have been physically abused or abuse by a collector you can take action.
Generally the Fair Debt Collection Act Prohibits:
-You cannot be harassed
-They cannot tell third parties about the debt
-They cannot call you after 9 p.m. or before 8 a.m.
-They cannot threaten you or use scare tactics
-They cannot legally sue you for an expired debt
-They cannot contact you once you put them on notice not to
-They must be able to verify the validity of the debt
People fail to meet their credit obligations for a variety of reasons. These range from over-extension of finances to unemployment and illness. Whatever the reason, every person is protected by the federal Fair Debt Collection methods Act. Congress passed this act to protect consumers from harassment by debt collectors. Personal, family, and household debts are covered under the act. This includes money owed for the purchase of an automobile, for medical care, or for charge accounts.
Mini-Miranda Warning
If a collection agency or collection attorney forgets to add the mini-Miranda in its communications it can result in violations. Any communication with a debtor must always include the mini-Miranda specified by the Act. 15 U.S.C. 1692(e)(11). This notice is usually placed on all dunning letters utilized by collection agencies. For violations see smith v. Trans world Systems, Inc., 953 F. 1025 (6 th Cir. 1992).
Limitations on contacting the consumer
A debt collector may only contact a person between the hours of 8 a.m. and 9 p.m. Debt collectors may not contact the consumer at his job if the debt collector is aware that the employer prohibits personal calls. A person may notify a debt collector in writing if he or she does not want any further contact with the collector. Once this notice has been received, the debt collector must stop all communications, except to notify the person that a specific action will be taken.
Can debt collectors tell someone else about your debt?
No! A debt collector can discuss your debt only with your attorney, a credit bureau, the creditor, and the creditor's lawyer. However, the debt collector can contact other people to find out where the debtor lives or works.
What debt collection methods are forbidden?
Debt collectors may not harass, intimidate, threaten, or embarrass you. Debt collectors may not make false or misleading statements, such as falsely associating themselves with a government office or credit bureau. They may not use misleading or false threats of imprisonment or criminal charges.
Threatening to Take Legal Action
Collection agencies often threaten to sue debtors. The FDCPA prohibits collectors from stating that he will take action that cannot be legally taken or that is not intended to be taken. 15 U.S.C. 1692(e)(5); Case law:Bentley v. Great Lakes Collection Bureau, 6 F. 60 ( Cir. 1993).The FTC has indicated that collectors may not even imply that an action will be taken unless such action is legal and there is a reasonable likelihood at the time the statement is made that such action will be taken.
What to do if a debt collector violates the Act
Keep detailed records of any communication you have with the debt collector. Include time, date, and the name of the person with whom you spoke. Keep a copy of all written correspondence between you and the debt collector. Also, if a debt collection agency orders your credit reports before they have validated the debt then they may have violated the FCRA and the FDCPA. You may sue a debt collector.FDCPA-Sec.. - Civil liability
We have a sample letter for FDCPA violations
We also have a debt collection log sample letter to keep all notes
Read all Consumer Statutes> (opens in new window)
Collection agency laws by state
Restrictions on garnishments
FDCPA opinion letters by the FTC. These letters are a gem!
Locate a collection agency
Statute of Limitations to sue under the FDCPA
The FDCPA provides for a one-year statute of limitations. 15 U.S.C. (d). The limitation period begins to run on the date a communication is mailed, and cannot be extended by the Rules of Civil Procedure. Case law: v. U.S. West Communication, Inc., 967 F.2nd 259 ( Cir. 1992).If you are going to sue for damages under the FDCPA you must do it within one year or forget it.
Can you sue the Original Creditor for FDCPA Violations?
in the vast majority of cases, creditors do not have any liability arising from the FDCPA. However, the term "debt collector" does include creditors who, "in the process of collecting his own debts, uses any name other than his own which would indicate that a third person is collecting or attempting to collect such debts." 15 U.S.C. (6)(A). But... and this may be a long shot, you can try to claim "negligent referral" by an OC who sends the debt to a CA without ever billing you.
What is considered debt validation
This may be one of the most confusing aspects of the FDCPA. Debt validation means to have the CA prove the debt, (1) belong to the right debtor and (2) not already paid prior. Many CA are now fighting back against a debtor's request for VOD because they claim, the FDCPA states they only have to prove it is your debt and not paid prior. This is an area that will definitely need attention from lawmakers to clarify. However, in our opinion, VOD does include proving the debt is valid beyond just showing it belongs to the right debtor. So stick to your guns when requesting proof of the debt because you have an absolute right to make sure the debt is valid in its balance as well as contract information. Be concise in your request for VOD. Don't ramble on and on asking for everything under the sun, because that may not be supported by the FDCPA. Ask for your signature, balance due, posted payments, any credits and date of last payment and activity. These are all valid requests in our opinion and could be effectively argued under the FDCPA for VOD.See this article for more about VOD>
Friday, October 12, 2012
Getting $20,000 Personal Loans With Bad Credit: Why Approvals Are Not A Dream
Bad credit ratings are supposed to mean that large loans are impossible to get, but the truth is this rule has become irrelevant. In fact, there is no great problem in getting a large loan, even a ,000 personal loan with bad credit just as long as the necessary boxes are ticked and the application is convincing enough.
This is because, in reality, credit scores have only a small influence in the approval process. After all, many honest borrowers have seen their ratings fall due to the economy, not through any fault of their own. So, even with a low score, there remains a strong chance of securing loan approval.
A successful application for a large personal loan depends on more things than a credit score. So, by ensuring an application satisfies these more influential factors, getting the green light should not be a problem.
The Truly Influential Factors
Structuring an application properly is a key element on a successful application, especially when a large loan is required. Securing a ,000 personal loan with bad credit, for example, rests on the lender being confident they will get their money back. The truly influential factors are having a large enough income, a strong debt-to-income ratio, and the availability of collateral.
A large and reliable income is an obvious factor, with lenders unlikely to approve any applicant who has no regular source of income. There can be little surprise then that proof of income is important if there is to be any chance of securing loan approval. In the case of the self-employed, tax returns that confirm earning are needed.
However, it is the debt-to-income ratio that is the most influential factor. This confirms whether existing debt repayments are too much to permit taking on a new loan. A large personal loan, can be rejected if the share of income needed for debt repayments goes above 40%.
Find Some Security
Of course, one great way of convincing lenders they will get their money back is to provide some security. Usually, this means offering some collateral when submitting an application. It is especially helpful when applying for a ,000 personal loan with bad credit. This is because the item offered can be claimed in compensation should the borrower default on the loan.
The problem with collateral is that it must match the value of the loan, but with a ,000 loan, it may be difficult to find an item that is worth ,000, though combined items can add up to the value. Securing loan approval is not always so straightforward.
But this is where a cosigner is so useful. In fact, most lenders would prefer a cosigner because the promise is that payments will be made, so the hassle of converting a car into the ,000 owed is not necessary. With very large personal loans this is a common opinion.
Finding the Best Lender
A key part to the whole transaction is finding the best lender. When applying for something like a ,000 personal loan with bad credit, the right lender will be the balance between affordable and too expensive.
The best lenders are usually found online, where interest rates are lower than usual. A subprime lender is a safe bet when getting loan approval seems in the balance, though they do charge slightly higher rates.
But what is important is that large personal loans are available if the applicant is willing to make some compromises. Then, the funding so badly needed can be secured and progress made.
This is because, in reality, credit scores have only a small influence in the approval process. After all, many honest borrowers have seen their ratings fall due to the economy, not through any fault of their own. So, even with a low score, there remains a strong chance of securing loan approval.
A successful application for a large personal loan depends on more things than a credit score. So, by ensuring an application satisfies these more influential factors, getting the green light should not be a problem.
The Truly Influential Factors
Structuring an application properly is a key element on a successful application, especially when a large loan is required. Securing a ,000 personal loan with bad credit, for example, rests on the lender being confident they will get their money back. The truly influential factors are having a large enough income, a strong debt-to-income ratio, and the availability of collateral.
A large and reliable income is an obvious factor, with lenders unlikely to approve any applicant who has no regular source of income. There can be little surprise then that proof of income is important if there is to be any chance of securing loan approval. In the case of the self-employed, tax returns that confirm earning are needed.
However, it is the debt-to-income ratio that is the most influential factor. This confirms whether existing debt repayments are too much to permit taking on a new loan. A large personal loan, can be rejected if the share of income needed for debt repayments goes above 40%.
Find Some Security
Of course, one great way of convincing lenders they will get their money back is to provide some security. Usually, this means offering some collateral when submitting an application. It is especially helpful when applying for a ,000 personal loan with bad credit. This is because the item offered can be claimed in compensation should the borrower default on the loan.
The problem with collateral is that it must match the value of the loan, but with a ,000 loan, it may be difficult to find an item that is worth ,000, though combined items can add up to the value. Securing loan approval is not always so straightforward.
But this is where a cosigner is so useful. In fact, most lenders would prefer a cosigner because the promise is that payments will be made, so the hassle of converting a car into the ,000 owed is not necessary. With very large personal loans this is a common opinion.
Finding the Best Lender
A key part to the whole transaction is finding the best lender. When applying for something like a ,000 personal loan with bad credit, the right lender will be the balance between affordable and too expensive.
The best lenders are usually found online, where interest rates are lower than usual. A subprime lender is a safe bet when getting loan approval seems in the balance, though they do charge slightly higher rates.
But what is important is that large personal loans are available if the applicant is willing to make some compromises. Then, the funding so badly needed can be secured and progress made.
Tuesday, October 9, 2012
Get Approved With 360 Loans
Personal loans help in lots of situations. Need a car to get to work, have a leaking roof or other needed home repairs, have children with education needs, need to upgrade your skill levels to earn more, want to start a small business, or have an emergency? Whenever you need quick cash for any purpose a personal loan fits the bill.
You do not have to be perfect to get approved with us. Loans get approved every day for applicants with every credit level. Bad credit, slow credit, no credit, 360 loans can help. Applications and approvals are fast and easy. When you want to be sure you get the right loan you need help from our team of specialists. Their experience has taught them how to look at every loan creatively. They see all sides of your situation to identify possibilities for you.
Personal loans are unsecured loans. What does that mean? Equity loans or lines of credit often need to be backed up, or secured, with something of value. A car, a house, or a business could each secure a loan. But you need enough equity or ownership in your car or real estate to back the loan. One of our loans can be approved without any assets. That is why they are called unsecured loans.
Personal loans offer fast applications, credit approval for a variety of credit ratings, and are unsecured.
How do you apply for a loan with us? A couple of ways work for you. One way is to just call us to talk with one of our trained representatives. Fill out the application over the phone with the staff person. Approvals can be given very quickly. Approvals can happen within 24 hours or less and sometimes within an hour or even minutes depending on each situation.
Online personal loans make the process even easier. Put your information into the online application. Submit the application. It's that easy. Advancements in technology enable confirmation of your information on the computer. The privacy of online personal loans is assured. And like telephone applications, online approvals are fast.
360 Loans understands that credit issues can happen to almost anyone. We look at how you can repay the loan not your past credit history. A loan with us can help re-establish credit or build a first credit history. So call us or apply for online personal loans.
You do not have to be perfect to get approved with us. Loans get approved every day for applicants with every credit level. Bad credit, slow credit, no credit, 360 loans can help. Applications and approvals are fast and easy. When you want to be sure you get the right loan you need help from our team of specialists. Their experience has taught them how to look at every loan creatively. They see all sides of your situation to identify possibilities for you.
Personal loans are unsecured loans. What does that mean? Equity loans or lines of credit often need to be backed up, or secured, with something of value. A car, a house, or a business could each secure a loan. But you need enough equity or ownership in your car or real estate to back the loan. One of our loans can be approved without any assets. That is why they are called unsecured loans.
Personal loans offer fast applications, credit approval for a variety of credit ratings, and are unsecured.
How do you apply for a loan with us? A couple of ways work for you. One way is to just call us to talk with one of our trained representatives. Fill out the application over the phone with the staff person. Approvals can be given very quickly. Approvals can happen within 24 hours or less and sometimes within an hour or even minutes depending on each situation.
Online personal loans make the process even easier. Put your information into the online application. Submit the application. It's that easy. Advancements in technology enable confirmation of your information on the computer. The privacy of online personal loans is assured. And like telephone applications, online approvals are fast.
360 Loans understands that credit issues can happen to almost anyone. We look at how you can repay the loan not your past credit history. A loan with us can help re-establish credit or build a first credit history. So call us or apply for online personal loans.
Sunday, October 7, 2012
Lease Tansfers
When it come to a lease transfer, finding a reliable service may become a tedious quest without the help of professionals in this area, who can provide you with all the information you need, helping you through the whole process to complete a successful transaction.
That is what Swapalease and LeaseTrader are all about, the two largest lease assumption marketplaces, which are internationally renowned. Whether you want to begin a lease or get out of a lease, these services are the right place to get help completing the transaction successfully.
Swapalease is in-process vehicle lease service that rapidly became a full-service online marketplace for both sellers and buyers. People, who are actually leasing vehicles but want to get out of them can find matching people who are willing to get short-term leases with the best condition for both parties.
Lease sellers are able to offer in-process leases through Swapalease for assumption online, improving their chances to close a deal because of the number of potential Lease buyers who prefer this site to browse the available offers and contact the Lease sellers directly through Swapalease marketplace.
If you want to get out of a car lease or get a short-term car lease, Swapalease provides the assistance you need to swap or process the lease termination with no money down. This service also offers step-by-step guidance to process a Lease assumption or lease transaction proceeding in any case.
With the help of Swapalease, you can exit your actual car lease with no penalties, while Lease buyers can benefit by taking over short-term leases with the best conditions in the automobile market.
On the other hand, at LeaseTrader you can take over a lease and pay rates below the actual national rates, including short-term leases with no money down. If you are the seller, this service let's you get out of your lease by listing your car, where potential lease buyers can view your listing, while LeaseTrader helps you to transfer your lease.
Lease Assumptions, short-term auto leases and lease transfer are all taken with a professional service attitude and full support, providing to both Lease sellers and Lease buyers with all the information needed to understand the car leasing process.
Browsing LeaseTrader in depth is the best way to take advantage of this car-leasing marketplace, always offering new features and information guides to visitors and recurring clients.
LeaseTrader has developed a comprehensive six-step process whether to assume or transfer a car lease. Starting a negotiation is as easy as visiting the site and registering yourself as a user. After this, you can either post your leased car as a seller or browse the listing to choose from the leased cars for the vehicle you want to assume.
Because LeaseTrader guarantees no money down, the following step is verified buyer credit worthiness before seller and buyer communicate with each other to negotiate and close the deal, after which LeaseTrader provides guidance to initiate the transfer process, including the complete documentation that enables buyers to drive away.
Swapalease and LeaseTrader are both your best option for getting into the auto lease transfer marketplace with bigger success chances to get out of your lease or take over a lease with the most benefits for finding the right car, with the best price and right term to suit your needs.
You can find throughout these sites a larger number of Short Term Leases ranging from 6 to up to 20 months leases, including Lease assumptions that reward buyers with incentives from sellers wanting to get out of a lease.
On-site opportunities are countless, so, you can easily find what you want when it comes to Auto Leasing, Short Term Leases, or Auto Assumptions. You can also find a large number of car brands listed and research facilities to browse by category, price, or further information regarding Auto Leasing and inherent processes.
Another advantage for Lease buyers and Lease sellers is that Swapalease and LeaseTrader offer additional services such as vehicle history report, vehicle title insurance, inspection and transportation, as well as credit reports and tracking, credit repair service, and overall warranty services.
That is what Swapalease and LeaseTrader are all about, the two largest lease assumption marketplaces, which are internationally renowned. Whether you want to begin a lease or get out of a lease, these services are the right place to get help completing the transaction successfully.
Swapalease is in-process vehicle lease service that rapidly became a full-service online marketplace for both sellers and buyers. People, who are actually leasing vehicles but want to get out of them can find matching people who are willing to get short-term leases with the best condition for both parties.
Lease sellers are able to offer in-process leases through Swapalease for assumption online, improving their chances to close a deal because of the number of potential Lease buyers who prefer this site to browse the available offers and contact the Lease sellers directly through Swapalease marketplace.
If you want to get out of a car lease or get a short-term car lease, Swapalease provides the assistance you need to swap or process the lease termination with no money down. This service also offers step-by-step guidance to process a Lease assumption or lease transaction proceeding in any case.
With the help of Swapalease, you can exit your actual car lease with no penalties, while Lease buyers can benefit by taking over short-term leases with the best conditions in the automobile market.
On the other hand, at LeaseTrader you can take over a lease and pay rates below the actual national rates, including short-term leases with no money down. If you are the seller, this service let's you get out of your lease by listing your car, where potential lease buyers can view your listing, while LeaseTrader helps you to transfer your lease.
Lease Assumptions, short-term auto leases and lease transfer are all taken with a professional service attitude and full support, providing to both Lease sellers and Lease buyers with all the information needed to understand the car leasing process.
Browsing LeaseTrader in depth is the best way to take advantage of this car-leasing marketplace, always offering new features and information guides to visitors and recurring clients.
LeaseTrader has developed a comprehensive six-step process whether to assume or transfer a car lease. Starting a negotiation is as easy as visiting the site and registering yourself as a user. After this, you can either post your leased car as a seller or browse the listing to choose from the leased cars for the vehicle you want to assume.
Because LeaseTrader guarantees no money down, the following step is verified buyer credit worthiness before seller and buyer communicate with each other to negotiate and close the deal, after which LeaseTrader provides guidance to initiate the transfer process, including the complete documentation that enables buyers to drive away.
Swapalease and LeaseTrader are both your best option for getting into the auto lease transfer marketplace with bigger success chances to get out of your lease or take over a lease with the most benefits for finding the right car, with the best price and right term to suit your needs.
You can find throughout these sites a larger number of Short Term Leases ranging from 6 to up to 20 months leases, including Lease assumptions that reward buyers with incentives from sellers wanting to get out of a lease.
On-site opportunities are countless, so, you can easily find what you want when it comes to Auto Leasing, Short Term Leases, or Auto Assumptions. You can also find a large number of car brands listed and research facilities to browse by category, price, or further information regarding Auto Leasing and inherent processes.
Another advantage for Lease buyers and Lease sellers is that Swapalease and LeaseTrader offer additional services such as vehicle history report, vehicle title insurance, inspection and transportation, as well as credit reports and tracking, credit repair service, and overall warranty services.
Friday, October 5, 2012
How to Counter Recession
While everyone lament shortage of money during recession, one sure shot way to be financial comfortable is often not heeded. The way is to reduce the expenses and needless purchases. The expenses may include foreign trips, home makeover or any new gadgets. Any purchase that is not essential and can be put off should be put off for the future when the cash flow is much better.
For most people, these times are trying and hard. The economy is not going to get better anytime soon and in fact, we may see a double dip very soon. So while government does it part to manage economy, we can help ourselves to make our lives tad easier in this downturn economy.
1) Love your Job: First casualties in recession are new jobs. Companies stop hiring new recruits and in fact lay off many jobs. At this time the best job is the job you are holding. So, stay put where you are working right now and work hard. Banish any thoughts of finding job in any other company and cement your position in your current job.
2) Cost Cutting: Cost cutting is just not for corporates. You too should avoid lifestyle purchases like new smart phones, laptops, play station etc.
3) No new Loans: Do not make any purchases which mean new Loans. New cars or house are a strict NO when there is no job guarantee. EMI may mean additional strain on your budget. In a scenario where you can be laid off or you may face salary cuts, this is suicidal.
4) No Risky Investments: This is a time for conserving your resources. Do not invest in risky avenues like equity. Only invest considering your risk appetite. If you are in a business, then hold off your business expansion plans. Slow market may mean that you won't get returns soon or as expected.
5) Insure yourself: Even in downturn you need health and term Life Insurance Plans. Make sure that in your absence, your family can live comfortably without any fear of future. One basic rule is to have a minimum of 12 times the annual income as life cover in a term plan.
6) Continue SIP: During the recession, the stock market also will be low. This is the time when you can get best shares at cheapest prices. Keep faith in SIP to minimize your loss. Do not stop systematic insurance plans as you will loss the advantage of cost averaging. Cost averaging has two facets - buying more when the market is low; growing all when the market is high. We buy more units for the same investment, as the units of the mutual funds at a lower NAV (Net Asset Value). By stopping the SIPs we loss out at the buying more stage. This will also mean that you lose out during grow-all stage as you will not have adequate units in your hands for them to grow.
7) Learn: During downturn, it's the survival of the fittest. Companies want the best people to maximize their expenses. Also, educating yourself all the while makes you much more prepared for the upturn.
For most people, these times are trying and hard. The economy is not going to get better anytime soon and in fact, we may see a double dip very soon. So while government does it part to manage economy, we can help ourselves to make our lives tad easier in this downturn economy.
1) Love your Job: First casualties in recession are new jobs. Companies stop hiring new recruits and in fact lay off many jobs. At this time the best job is the job you are holding. So, stay put where you are working right now and work hard. Banish any thoughts of finding job in any other company and cement your position in your current job.
2) Cost Cutting: Cost cutting is just not for corporates. You too should avoid lifestyle purchases like new smart phones, laptops, play station etc.
3) No new Loans: Do not make any purchases which mean new Loans. New cars or house are a strict NO when there is no job guarantee. EMI may mean additional strain on your budget. In a scenario where you can be laid off or you may face salary cuts, this is suicidal.
4) No Risky Investments: This is a time for conserving your resources. Do not invest in risky avenues like equity. Only invest considering your risk appetite. If you are in a business, then hold off your business expansion plans. Slow market may mean that you won't get returns soon or as expected.
5) Insure yourself: Even in downturn you need health and term Life Insurance Plans. Make sure that in your absence, your family can live comfortably without any fear of future. One basic rule is to have a minimum of 12 times the annual income as life cover in a term plan.
6) Continue SIP: During the recession, the stock market also will be low. This is the time when you can get best shares at cheapest prices. Keep faith in SIP to minimize your loss. Do not stop systematic insurance plans as you will loss the advantage of cost averaging. Cost averaging has two facets - buying more when the market is low; growing all when the market is high. We buy more units for the same investment, as the units of the mutual funds at a lower NAV (Net Asset Value). By stopping the SIPs we loss out at the buying more stage. This will also mean that you lose out during grow-all stage as you will not have adequate units in your hands for them to grow.
7) Learn: During downturn, it's the survival of the fittest. Companies want the best people to maximize their expenses. Also, educating yourself all the while makes you much more prepared for the upturn.
Thursday, October 4, 2012
Advantages of Housing Loans Using SIBOR Rate
Advantages of Housing Loans Using SIBOR Rate
Home loans are some of the most common types of loans people apply for in order to purchase another property or to refinance a home renovation or rehabilitation project. There are many factors to consider before choosing a housing loan such as the amount of loan, which bank or institution to apply and the interest rates available. Choosing the interest rate for your home loan is very important since this factor will determine how much you are going to pay every month to pay off your loan. That is why many home buyers and investors prefer the lowest interest rate as possible in order to obtain lower monthly payment costs. One of the most common interest rates used as benchmark by various banks in Asia is the SIBOR rate or the Singapore Interbank Offered Rate.
Aside from Singapore, many countries in Asia also use SIBOR for their home loans. The Association of Banks in Singapore or the ABS is the main institution that sets the SIBOR rate every day. Since it is one of the most common benchmarks in the industry, it is important that people especially home buyers and borrowers have sufficient knowledge about this type of interest rate. Banks and lending companies use SIBOR rate because of its good qualities. One advantage of SIBOR against other types of variable interest rates is that it is more stable compared to the SOR which is another type of benchmark used by banks and lending institutions in Asia. SOR are only ideal for short term interest rates while SIBOR rate is more ideal for long term home loans. This is because SOR pegged home loans have lower initial interest rates but are very volatile and always fluctuating while SIBOR starts a little higher but do not fluctuate rapidly.
If you don't want to take risks with home loans pegged on variable interest rates, you can consider home loans based on fixed rates. Fixed interest rates are higher than variable rates since banks and lending companies are profit-driven institutions and they operate by securing their profits and reducing possible losses. With higher fixed rates, banks can minimize risk of losing money no matter what the economic condition and performance will be. Aside from being relatively high, fixed rates are also used by banks as promotional rates which are only applied at the initial years of the housing loan. After the initial years, the interest rate will be changed to the main benchmarks such as the SIBOR rate. Using fixed rates are only ideal if you want to have better comparison among home loan options and deals available to you.
Aside from the common benchmarks and fixed rates, some banks and lending institutions offer housing loans pegged on their own derived interest rate. Banks using these kinds of interest rates usually make changes on the rates if the factors affecting the rates also changes such as the supply and demand, real estate performance and other economic factors affecting their self-determined interest rate. Compared to SIBOR rate which is publicly available and can be easily monitored every day, changes to the interest rates determined by banks are only announced by giving notice to its clients.
Home loans are some of the most common types of loans people apply for in order to purchase another property or to refinance a home renovation or rehabilitation project. There are many factors to consider before choosing a housing loan such as the amount of loan, which bank or institution to apply and the interest rates available. Choosing the interest rate for your home loan is very important since this factor will determine how much you are going to pay every month to pay off your loan. That is why many home buyers and investors prefer the lowest interest rate as possible in order to obtain lower monthly payment costs. One of the most common interest rates used as benchmark by various banks in Asia is the SIBOR rate or the Singapore Interbank Offered Rate.
Aside from Singapore, many countries in Asia also use SIBOR for their home loans. The Association of Banks in Singapore or the ABS is the main institution that sets the SIBOR rate every day. Since it is one of the most common benchmarks in the industry, it is important that people especially home buyers and borrowers have sufficient knowledge about this type of interest rate. Banks and lending companies use SIBOR rate because of its good qualities. One advantage of SIBOR against other types of variable interest rates is that it is more stable compared to the SOR which is another type of benchmark used by banks and lending institutions in Asia. SOR are only ideal for short term interest rates while SIBOR rate is more ideal for long term home loans. This is because SOR pegged home loans have lower initial interest rates but are very volatile and always fluctuating while SIBOR starts a little higher but do not fluctuate rapidly.
If you don't want to take risks with home loans pegged on variable interest rates, you can consider home loans based on fixed rates. Fixed interest rates are higher than variable rates since banks and lending companies are profit-driven institutions and they operate by securing their profits and reducing possible losses. With higher fixed rates, banks can minimize risk of losing money no matter what the economic condition and performance will be. Aside from being relatively high, fixed rates are also used by banks as promotional rates which are only applied at the initial years of the housing loan. After the initial years, the interest rate will be changed to the main benchmarks such as the SIBOR rate. Using fixed rates are only ideal if you want to have better comparison among home loan options and deals available to you.
Aside from the common benchmarks and fixed rates, some banks and lending institutions offer housing loans pegged on their own derived interest rate. Banks using these kinds of interest rates usually make changes on the rates if the factors affecting the rates also changes such as the supply and demand, real estate performance and other economic factors affecting their self-determined interest rate. Compared to SIBOR rate which is publicly available and can be easily monitored every day, changes to the interest rates determined by banks are only announced by giving notice to its clients.
Monday, October 1, 2012
School Counselor Cover Letter
For those of you looking to find a lucrative and rewarding job as a school counselor, here is an example of a cover letter that will aid you in writing your own. Take a look.
A school counselor is the ear for student's problems in school. These problems could be career-related, personal, or study-related. A student can talk to a school counselor about problems with peer pressure, problems with choosing a career, difficulty studying or catching up with a particular subject, or even problems in the home in some cases. A school counselor not only hears out a student, but also provides the appropriate guidance to her/him so that her/his problem may be resolved. Such a professional may also serve as a mediator between the student and say a professor or a classmate, if there has been a miscommunication that has resulted in a major problem. As such, the prime job of a school counselor is to counsel students and aid their psychological development in a healthy manner. By implementing various techniques that help reduce their stress, school counselors help students grow with lesser pressure that they are prone to in today's day and time.
The job of a school counselor is highly rewarding, and those of you who wish to make a definite career in this field should know how to introduce yourselves to a potential employer. This you can do by writing a good cover letter that will get you an appropriate job. Given here is a sample of a cover letter for a school counselor that will help you write a good one yourself.
How to Write a Cover Letter: for School Counselors
The job of a school counselor is highly sensitive, which is why you should make the most of the cover letter you send to a prospective school, explaining why you would be the best candidate for the position. It is all you have to speak for you till you are granted a personal interview for further discussion. So, here's a sample you can go through to draft your cover letter on similar lines.
Sample Cover Letter for a School Counselor
Your Name
Address Contact Number: 0000-0000 E-Mail Address
________________________________________
Date
Contact Name (Name of Hiring Manager)
Contact Designation
School Name
School Address
School City, State, Zip
Dear Ms./Mr. Last Name,
This letter is in response to the job posting that I have come across on the JKL website for a school counselor with your esteemed school. I understand that you are looking for someone with a good amount of experience working with children, and I can safely say that I may be able to fit the bill in more ways than one.
I have 6 years of work experience in the field and have primarily been working with children in high school. However, my expertise is not limited just to this lot and I can easily cater to the needs of children of any age group in school. My experience began as early as college, when I used to volunteer with school going children in orphanages, and would advice them on the social problems they faced in school. That is when I decided that being a school counselor was the perfect job for me.
Having started at an early age, I find that my expertise does in fact lie in helping students deal with social pressure, and helping them cope with the stress and frustration it brings. I have also been successfully able to help students improve their self-esteem by making them focus on past successes, so that they may be able to garner the strength for future aspirations. I don't think age has any role to play when it comes to warming up to students. So long as they can find a mentor and a guide in someone, they are likely to open up to them.
I believe my aforementioned skills will be an asset to your school, and that I will definitively be able to contribute to the psychological growth and personality development of the children at an individual level, as well as to meet the expectations of the school from students who pass out from it. I assure you that I am a highly dedicated professional who understands the sensitivity of the position as a school counselor. Do feel free to call me on the number mentioned above to arrange an interview and discuss this position at length, at your convenience.
Thank you for your time and consideration.
Sincerely,
Signature
Name
Encl: Resume
Since your resume will talk about your experience in detail, focus your letter on your personality traits and your previous experience with kids. This will boost your prospects for an interview, and is likely to have you land that coveted job. Good luck!
A school counselor is the ear for student's problems in school. These problems could be career-related, personal, or study-related. A student can talk to a school counselor about problems with peer pressure, problems with choosing a career, difficulty studying or catching up with a particular subject, or even problems in the home in some cases. A school counselor not only hears out a student, but also provides the appropriate guidance to her/him so that her/his problem may be resolved. Such a professional may also serve as a mediator between the student and say a professor or a classmate, if there has been a miscommunication that has resulted in a major problem. As such, the prime job of a school counselor is to counsel students and aid their psychological development in a healthy manner. By implementing various techniques that help reduce their stress, school counselors help students grow with lesser pressure that they are prone to in today's day and time.
The job of a school counselor is highly rewarding, and those of you who wish to make a definite career in this field should know how to introduce yourselves to a potential employer. This you can do by writing a good cover letter that will get you an appropriate job. Given here is a sample of a cover letter for a school counselor that will help you write a good one yourself.
How to Write a Cover Letter: for School Counselors
The job of a school counselor is highly sensitive, which is why you should make the most of the cover letter you send to a prospective school, explaining why you would be the best candidate for the position. It is all you have to speak for you till you are granted a personal interview for further discussion. So, here's a sample you can go through to draft your cover letter on similar lines.
Sample Cover Letter for a School Counselor
Your Name
Address Contact Number: 0000-0000 E-Mail Address
________________________________________
Date
Contact Name (Name of Hiring Manager)
Contact Designation
School Name
School Address
School City, State, Zip
Dear Ms./Mr. Last Name,
This letter is in response to the job posting that I have come across on the JKL website for a school counselor with your esteemed school. I understand that you are looking for someone with a good amount of experience working with children, and I can safely say that I may be able to fit the bill in more ways than one.
I have 6 years of work experience in the field and have primarily been working with children in high school. However, my expertise is not limited just to this lot and I can easily cater to the needs of children of any age group in school. My experience began as early as college, when I used to volunteer with school going children in orphanages, and would advice them on the social problems they faced in school. That is when I decided that being a school counselor was the perfect job for me.
Having started at an early age, I find that my expertise does in fact lie in helping students deal with social pressure, and helping them cope with the stress and frustration it brings. I have also been successfully able to help students improve their self-esteem by making them focus on past successes, so that they may be able to garner the strength for future aspirations. I don't think age has any role to play when it comes to warming up to students. So long as they can find a mentor and a guide in someone, they are likely to open up to them.
I believe my aforementioned skills will be an asset to your school, and that I will definitively be able to contribute to the psychological growth and personality development of the children at an individual level, as well as to meet the expectations of the school from students who pass out from it. I assure you that I am a highly dedicated professional who understands the sensitivity of the position as a school counselor. Do feel free to call me on the number mentioned above to arrange an interview and discuss this position at length, at your convenience.
Thank you for your time and consideration.
Sincerely,
Signature
Name
Encl: Resume
Since your resume will talk about your experience in detail, focus your letter on your personality traits and your previous experience with kids. This will boost your prospects for an interview, and is likely to have you land that coveted job. Good luck!
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