Archive for the ‘Financial Planners’ Category

The Many Facets Of Consolidated Credit Counseling Services

By Sean A. Kelly

Consolidating your debts may not be an easy thing for you to do all by yourself. This may be because the process often involves numerous negotiations with creditors and also endless paperwork. For this reason, many people with overwhelming debts sign up with debt management companies such as Consolidated Credit Counseling Services so that they may not have to get their debts in order all on their own. Such agencies may help clients like you by acting on your behalf in negotiations with creditors as well as proposing the best possible solution for your particular financial issue. Suggestions and proposals from these agencies are often made by financial experts they hire so you may find their advice to be viable. However, you may still need to be a bit knowledgeable about your own financial situation in order to make a well informed decision.

Debt management companies such as Consolidated Credit Counseling Services generally work for a certain monthly fee sometimes ranging from $10 to $20 for each account you have with them. You may want to bear in mind that although these agencies may act on your behalf when it comes to dealing with creditors, you are still the one who are going to pay 100% of the debts to the creditors. They may make repaying your debts easier by combining all your debts into one single entity and they may be the ones who would be distributing that one deposit a month you make into their account to each respective creditor. The upside is that you may have a significant reduction in the amount you have to pay every month as they may negotiate with your creditors to reduce the interest rate or to extend the loan term so that you could still afford to pay your debts.

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One good thing about having debt management agencies helping you out with your debts is that you may no longer have to cope with the stress of overwhelming debts. Solutions such as credit card debt consolidation may lead to instant stress reduction because you may no longer have to confuse yourself with which credit card you may have to pay first before others. These agencies may do that for you. Of course, you may also enjoy significantly reduced interest rates and lower monthly payments so you may have to worry less about not being able to afford making the payments. You may find it easier to get your finances back in order as these debt management agencies may also provide counseling for you to gain more knowledge on how best to manage your own finances as well as some peace of mind. Calls from creditors may be redirected to these debt management agencies so you may not have to feel the pressure of having to pay your debts anymore.

On the other hand, you may want to keep in mind that a consolidated credit card debt may not be a permanent solution to your debt problem. Sometimes the root of the problem may be your own spending habit. So as miraculous as debt consolidation may sound to you it may only provide a short term solution. You may need to do your part to ensure that you stay debt free throughout the rest of your life. Seeing that you probably manage to have the amount of your debt reduced you may also have to pay the consolidated debt over a longer period of time during which you may also be accumulating new debts. Therefore, you may want to take the advice of many financial experts, especially those who work with debt management companies, to start changing your lifestyle and financial habits if you truly wish to live your life free of debt.

In general, debt management companies may provide a temporary fix on your debt problems. In order to stay off debts, you may have to be proactive and take the advice of your financial advisors to strategize your plan towards living a life without debt.

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Posted on January 14th, 2019 by eE73Dg  |  No Comments »

Best Credit Union Rates For Auto Refinance 5 Steps To Getting The Best Rate

By Susan Willis

If you own a car, you have probably heard that refinancing may be an option for you to save money on your monthly payments. And this is absolutely true, under certain conditions. The best time to refinance your auto loan is when one or more of the following is true:

a. average auto loan interest rates are down relative to those of the past few years

b. your credit score has improved over the past few years since taking out your current loan

c. you want to refinance your loan over a longer time period in order to reduce your monthly payment amount

Credit unions are becoming increasingly popular alternatives to banks. In case you are new to credit unions, from the customer’s perspective they “look and act” much like a regular bank. They have tellers, ATM machines .. . and they can extend home and auto loans to their customers.

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It used to be that credit unions had very strict membership policies, but nowadays you can find a credit union to join fairly easily without much in the way of pre-qualification. And, they are a great place to shop for refinance rates.

If you are looking for the best credit union rates for auto refinance, try these 5 steps to getting yourself the best rate:

1. Start by checking their websites for posted rate information:

Scope out some of these institutions near you and figure out which ones you might like to do business with. Then, go online to their websites and check out their posted rates for car loans. Of course, they are going to actively promote only their best-possible rates that are available to customers with excellent credit (usually, people with a credit score above 770). However, at least by checking their websites you can get a relative feel for what they are offering. Be sure to take good notes.

2. Make a list of at least 3-5 credit unions:

Now, as you examine the various stated rates, make a list of at least 3-5 of those that seem to have the best interest rates. Also, be sure to review their membership policies to make sure you qualify.

3. For comparison purposes, make a list of 3-5 other types of lenders:

Even though going with a credit union may be your best option, it will behoove you to widen the playing field a bit by researching at least 3 other types of lenders like banks, auto dealers and auto loan financing companies; add them to your list as well. It can’t hurt to have more options.

4. Choose a reasonably-priced automobile to buy:

Before you start applying for loans, make sure you have your eye on an automobile that is reasonably-priced. Remember, a lower-price automobile will mean a lower monthly payment – regardless of the interest rate. It may also help you qualify for a lower-interest loan, depending upon your credit score and income.

5. Save up for a good-size down payment if you can:

Before applying, do yourself a favor and save up for as large a down payment as possible. Like tip #4 above, this, too will help you secure the cheapest-possible loan.

Take these 5 steps to getting the best credit union rates for auto loan refinance.

About the Author: Get a list of any-credit-okay auto refinancing lenders near you at:

Bad Credit Auto Financing Deals



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Posted on December 25th, 2018 by eE73Dg  |  No Comments »

Could Be The Easiest, But Surely The Smartest Way To Save Money On Your Auto Insurance Payments

By Ed Sneineh

Getting some discounts and savings on car insurance involves that you have little information but some common sense, and little knowledge of finance and insurance matters. You perhaps want to spend some times to study the different points of liability insurance, the expressions of deductibles and exclusions, etc. Perhaps you got mislead when someone informed you that your liability insurance will protect you for towing and rental reimbursement, and possibly it was all miscommunication between you and your broker when your were told that you getting auto insurance discounts because you did not smoke.

When people learn about certain matters they normally save themselves time (which is money), pure money, or frustration, or maybe all the above. For example, with some companies, insuring 6 autos is less costly that insuring 5 autos! How can that be true? If your policy contains 5 automobiles with full coverage on all, and the policy lists 3 adults and 2 youthful operators, adding up a 6th automobile liability only and appointing the 17 year old boy with 1 ticket to that 6th automobile will unquestionably decrease the premiums with the vast majority of insurance companies that permit assignments of operators to automobiles. Keep in mind that if you cross out the 6th automobile later, you may have to pay additional charges to take that automobile off your policy. The previous case is an example of a complex situation which may intrigue many people, including beginners in the insurance business.

Nevertheless there are other circumstances where you do not have to be an insurance specialist to comprehend how simple it is to save money. The next is a setting that is very common in its occurrence with folks buying insurance, every day. The situation entails people with choices to make either full payment or down payment and scheduled monthly payments.

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Situation: Assume that you decided to go ahead with an insurance quote, with a final cash premium of $635.00. Payment Options: The insurance agent asks that you either pay in full or may you put a down payment of $175.00, and then the remaining balance of $460.00 be paid with 4 monthly payments of $123.11, leading to total payments of $667.44; [175+(4X123.11)].

Financial services, including insurance, is one of the highest regulated industries. The state regulatory usually sets restrictions on the maximum charges which consumers will pay for having your premiums paid on monthly or quarterly basis. In Illinois the maximum nominal interest rate that can be charged to a consumer for outstanding balances is 10%. However the law permits for setup charges on the contract, with a maximum setup fees of $40.00 per contract. In the previous examples, the customer is paying $32.44 [$20.00 setup and 12.44 interest] for choosing to schedule monthly payments.

Paying $32.44 may seem an ‘acceptable’ verdict, but when you take in consideration that this amount is paid to ensure a balance of $460.00 for only four months, which makes it comparable to around 41% of the money borrowed, it will make you wonder if you had the correct judgment. What makes things more knotty is the added fees that customers must pay for (1) Being behind schedule dates, (2) Monthly payment contracts being canceled and reinstated (3) Paying more fees for using online/phone payment system by credit cards or check by fax/phone. If you miss a payment, get canceled and reinstated once, and paid once by check by phone you extra charges will be over $15.00. So imagine if you miss that two times, or even three times!!

Making a lump sum payment on your insurance if you can, and you must make an attempt to, pay for it, will certainly save you money, time and stress from seeing late or cancellation notices on your insurance!

About the Author: Ed Sneineh, ChFC, an insurance professional since 1989, former college educator of insurance, and founder of Insurance Navy, a leader in providing

auto insurance quotes, Chicago

. Visit our website and get your

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in 5 minutes or less. Insurance Navy represents major carriers such as AAA, Travelers, Progressive, Hartford, and more than 20 other carriers.


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Posted on June 1st, 2017 by eE73Dg  |  No Comments »