The Reality Of Payday Loans

January 23, 2014 by  
Filed under A Note for You, Front Page

Payday Loans Neon Sign

Payday Loans Neon Sign (Photo credit: rinkjustice)

The Reality Of Payday Loans
Pay day loans or pay day advances were a thing of the past. Most people who worked in the formal sector had not even used this service let alone heard it. It was the hard work that they put in that counted and so they counted on promotions.
Fast forward to the second decade of the 21st century and they are now a trend. They have become a service that is widely used by at least 25% of persons in the formal sector. Why you ask? This is because the cost of living has risen and profits among companies have fallen.

Since the economic crunch of 2008, we have seen a rise in the costs of food, mortgage, telephone bills, fuel, health services and in the education sector. Pay day advances from lenders such as http://www.mypaydaylender.co.uk are widely applied for by households especially the breadwinners who have to complete paying the bills; be it electricity or the mortgage. But is there really a motivating factor as to why people are obliged to request a pay day advance?
Well I could ask, why can’t someone endure those few couple of days doing side hustles to boost their incomes? Because a pay day loan is only a benefit in the short run but when you look at the long run, it is actually a loss. Read more

4 steps you can follow to build your business credit

As an experienced Canadian credit reporting professional and a business man himself, Pat Drummond knows the challenges that small businesses face, and has learned from experience how to avoid common mistakes, which may eat up valuable time and money. Small businesses especially ones that are generally family-owned or those that have been operating for less than 2 years need access to credit. Here are 4 steps you can follow to build your business credit:

1. Establish a Business Credit Report

Every business starts with no credit score, and no credit history. Similar to your personal credit report, a business good credit profile can help your company grow and prosper. As you make connections to your business clients, you can start to build your working relations and credit profile.  As the business expands and starts establishing it, approvals for loans will get easier. Read more

How to Buy Homes Without Borrowing From the Bank

Location in the state of California

Location in the state of California (Photo credit: Wikipedia)


Don Nay has purchased more than 3,300 residential properties during the past 30 years and has never borrowed money from a bank to purchase a home. Now he wants to teach other people in Southern California how to buy homes the same way he did.
“Banks are financial institutions, not people,” explains Nay. “They have a cookie-cutter approach to making and servicing home loans in Southern California that is without concern for the person responsible for repaying that loan. I figured it was time to share what I’ve learned about the home buying process so that it might just help a few folks to buy a home or avoid foreclosure. It might help wake the banks up, too.”

I live in San Bernardino County and this county has been hit the hardest with foreclosures. Real estate has also been tough in Riverside County. There was an increase in foreclosures by 34% in the first part of 2013. I meet a lot of agents who say now is the time to get back into the market. I know people HAVE to be educated. The market is different. Even if you have experience, it’s best to learn what is working now and why. Don recommends a Purchase Money Mortgage and he can teach you how to use it. Read more

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