Dealing With COBRA Health Insurance After The Healthcare Reform

It’s a great source of interest to anyone who has recently been laid off, or expects to be soon one day – will the new health-care reform help you, or work against you? The mandatory COBRA health insurance program – will there be any changes? How much will it cost and how long can you have it?

Well basically the good news is that the COBRA health insurance coverage you always had, you still do; you certainly aren’t deprived of anything; but there are certain areas where things get a little better. It’s kind of complicated though. Basically, you get your COBRA coverage benefits for any year and a half. The health-care reform originally included coverage beyond that; but they couldn’t pass the law with this, and they cut it down to only 18 months.

COBRA health insurance has always been a kind of bridge program. If you are out of a job, it helps you stay on your former employer’s coverage until you find a new job. The problem is, you don’t get a job as quickly these days as he used to, and 18 months don’t seem to last as much. There was this story on the news the other day – a skilled manual worker at a car parts plant in New York was laid off about one year ago. She knows she has until December before her COBRA health insurance expires. Her unemployment benefits will end too. She isn’t quite 65 yet, and Medicare isn’t an option for a couple more years. She gets by on the payments she gets from her husband’s Social Security benefits, and healthwise, her only hope is the community clinic in her area.

For anyone who can afford to buy state government-sponsored insurance, you really need to do that right away. If you have COBRA health insurance on the independent open market, you are guaranteed coverage even with a pre-existing condition. But you need to make sure that you don’t let your COBRA expire before you go shopping. Or else, they could deny you coverage because of your pre-existing condition. If you don’t have one, you’ll probably get a very good deal for being healthy and for being someone coming out of COBRA. The important thing here though is to make sure that you don’t let your COBRA expire before you go looking for an alternative.

If the cost seems a little of the high side, you could try to put your cfhild on another plan .Insure your child under your state’s CHIP program. If you make enough that you don’t qualify for Medicaid, but you’re not quite rich enough to buy  private health insurance for yor child, you’ve got your CHIP for another five years.

Remember, if you just had your COBRA health insurance expire, you have opted two months to go before you get your new insurance. If you let your grace period pass by without taking action, it can have very serious consequences for the health of your wallet.

Be Sensible With College Student Credit Cards

When you are in college, every cent tends to count. If you have already been through school and paid your own way, then you can certainly relate to this. After tuition and textbooks are covered, you hope you have enough money for room and board. There are months where the dollar has to be spread pretty thin. Hence the common macaroni and cheese meals that college students are known for. This is where college student credit cards come in handy. Although you may not have known it, there are various options when it comes to credit cards for college students these days. These can really assist you with getting through school.

If you have never applied for a credit card, you should first know that it is a very easy and convenient process nowadays. Especially when you consider the fact that it is all done online. If you have a computer and access to the World Wide Web, you will certainly have no difficulties applying for college student credit cards. Furthermore, it does not take long to fill out a simple application. You will need to know your basic information, so that the company can run a check on you to see if you are worthy of a student credit card. As a college kid, you are not likely to have any dings on your credit yet.

The reason many students appreciate college student credit cards is the additional funds they have access to when needed. Have you ever been in a situation where you did not have enough money to cover one or two of your monthly bills? Or, maybe you successfully paid all of your bills for the month, but now lack the additional funds to buy groceries for the week. This is definitely where a student credit card can come in handy. You can simply charge the bill and pay it off later. As long as you do not abuse this and waste money on needless things or material items, you will be okay in the long run. It is all about being sensible.

As you may know, one of the major perks of college student credit cards is the low interest rates they generally have. It does not matter if it is a Discover, MasterCard, or Visa, college student credit cards often have low APRs so that students can handle the monthly percentage rates. However, the available credit amounts on credit cards are typically low for college students. You may want to find additional information on credit cards for college students by browsing through websites like CitiCards.com, Discovercard.com, and CapitalOne.com. This is a great way to find the right college student credit cards to meet your needs.

How To Get A Car Loan For People With Bad Credit

If you’ve got bad credit, you probably know it! Now your car has gone south and you’re looking to get a car loan for people with bad credit. Geez. From bad to worse, you might well think. No, don’t throw in the towel yet. Getting a car loan, even with bad credit, is a doable project. You just need to know the rules of this particular financial road.

The saving grace in this scenario, is that even the banks recognize that a car is essential to just about everyone. That being the case, they also know that the last thing you want to lose is your car. This means that you might be late on your payments for anything else, but not that essential vehicle. Whether you want to finance a new or used car, they’ll adjust their sights accordingly. Does your income to debt ratio support the proposed payment on this car loan? If so, you’ve passed test number one. Now, how much money are you bringing to the table? This means the down payment. The larger the down payment, the better  is your chance of obtaining that car loan for people with bad credit. If you’re willing to part with a sizable amount of cash to buy the car, you’re going to make that payment on the car loan before anything else. Who wants to lay out $1000 of their own money, only to have the car repossessed when payments aren’t made on time? It becomes a lose-lose proposition. You lose your cash and your credit rating goes down.

Do you have direct deposit in place for transferring your paycheck to your bank account? Do you have a savings account? Do you belong to a credit union? If you can say yes to any of these, your chance for the car loan for people with bad credit increases exponentially with each ‘yes’ answer.

Even cold-hearted bankers know that there are any number of legitimate reasons you might end up with bad credit. The lender will look over your credit report and it will be apparent, with even a cursory perusal, that the loss of a job or a monster medical bill is all it takes to explain your current bad credit score. The question becomes, given your credit and employment history, and where the credit blips occurred, are you a credit worthy risk? Given that you’re putting a substantial sum down on the proposed car and demonstrate fiscal responsibility with a savings account, direct deposit and/or credit union membership, you start to look better and better as a credit risk.

No, a car loan for people with bad credit isn’t impossible. You just need to understand the rules of this road. Good luck!

Buying A Car With Bad Credit – How To Get A Good Deal

In today’s dismal economic woes, buying a car with bad credit may seem to be, at best, a bad deal for you, the consumer. However, as they say, when you’ve got lemons, make lemonade. Today, there are probably as many people with bad credit as there are those with good credit. So it’s time to assess your advantages and make them work for you. You can’t disregard the disadvantages of a bad credit rating, but at the same time, you can make the most of what you have in your favor. Your length of employment at your current job can be a definite plus. In the same vein, if you’ve banked with the same bank for some years, and have a pretty clean record in terms of overdrafts, have direct deposit and a savings account with regular deposits, these points all work in your favor. If you belong to a credit union, this is another plus.

When buying a car with bad credit standing between you and a lender, remember that they’re in the business of lending money for a profit. Some things never change. The blunt truth is they’re in business to make money. If a lender has sufficient data to deem you a reasonable risk, you can most likely get a loan. Consider too, that, when buying a car with bad credit, the vehicle title remains in their name until the loan is repaid. In other words, the car serves as collateral. Should you default, they can repossess the car and auction it off for the balance of the loan. This is their last road of resort, but in the end, they recover their money.

This means that you should talk to lenders with whom you already have an existing relationship first. They are most likely to give you an auto loan at the best rate. If you can arrange a commitment for an auto loan, this opens the door to the widest venue of buying options. You can buy from a private party, a used car dealer or a manufacturer’s dealership for a new or used car.

When buying a car, with bad credit as the down side, you want to make your prospect as a loan candidate as attractive as possible to a lender. One way to accomplish this is to put down a large down payment. The lender then knows that you have a vested interest in keeping your car and making good on the remaining balance of the loan. If you have a second car to solve transportation problems in the short term, sell your current car on the private market and use the sales amount to fund your down payment. You’ll be money ahead on interest and a shorter, smaller loan payment.

Be aware that banks won’t loan on a car that’s more than 9 years old. The auto financing companies that used car lots work with will, but you’ll pay a heavy price on the financing. This route is not generally a smart deal.

In summary, buying a car with bad credit isn’t really all that difficult. What’s difficult is finessing your strategy to benefit you. Now you know the ropes!

Finding The Best Debt Consolidation Company

For many Americans, it is a serious challenge getting debt under control. It tends to all begin with a simple credit card application. After that, all sorts of things can happen that cause you to go downhill. You see a new MPs player you have to have, and then it is a couch for your apartment, followed by a new laptop, and the list goes on and on. You naturally pay your minimum payment each and every month. However, this does not really encourage your balance to drop. Especially not with the terrible APR you have on the credit card. This is the very reason many people are seeking out the best debt consolidation company.

Think before you purchase. This may very well be the key to staying out of debt. However, this does not exactly help the majority of us who are in serious debt. Once you realize you are 10, 20 of 30,000 dollars in the whole to one or several organizations, it is definitely time to have a reality check. More specifically, it is time to acquire the assistance of the best debt consolidation company you can find. This is definitely well worth your time and effort. You see, once you get the wheels in motion, you can really begin getting out of debt, and on with your life. Just imagine how much less stress you will have to grapple with daily.

One way to get started dealing with your debt is by looking into organizations such as CareOneCredit.com, ConsumerCredit.com, and InCharge.org. You may additionally want to check out debtconsolidationcare.com for answers. These are helpful sites that can really assist you with finding the best debt consolidation company to help you personally with your debt. Since not everyone is the same, and different people owe different sums of money, it is important to check out a number of debt consolidation organizations in the beginning. It is wise to make a list of questions that you need to ask them regarding what you owe, and how long it may take to pay off.

A lot of dealing with debt is getting control over monthly bills. often when people find themselves drowning in debt, it is typically due to the monthly sums they have to fork out to various companies. However, if you speak with the best debt consolidation company to suit your needs, they can aid you with consolidating all of your debt into one reasonable monthly payment. This way you will only have to deal with one bill each month, as opposed to several. Furthermore, you can commonly get a lower interest rate, which means you will be losing a great deal less cash every month to interest alone. Do not wait to find the best debt consolidation company to get your debt in order.

Beware Of Bad Credit Instant Approval Credit Cards

If your credit rating has been impacted by the economic slump, you’ve probably seen your mailbox getting stuffed with those offers for ‘bad credit instant approval credit cards‘ almost every day. You’re certainly not alone – tens of millions of Americans have fallen victim to the vagaries of this declining economy, resulting in a once good or decent credit rating dwindling down to a poor rating. There are a myriad of reasons; perhaps you’ve been laid off, had a reduction in work hours or pay, experienced costly health problems or simply can’t keep up with spiraling food costs. Just a few missed payments can send your credit rating way south in a hurry. You may think, “Desperate times call for desperate measures”, which makes you easy prey for those cleverly written ‘offers’ for bad credit instant approval credit cards. Along with the ‘advance payday’ loans, these types of offers should go straight from your mailbox into the round file. Here’s why.

Think about how, several years ago, the banking industry lured millions upon millions of Americans into mortgage loans they really couldn’t afford, encouraged by brokers and lenders to ‘fudge’ on the data on their loan applications, either inflating their real income, or convincing them to accept some of the more creative financing packages, such as the ARMs. Today, we see the disastrous results: foreclosures on these loans are at a record high. This is quite similar in nature to those solicitations for bad credit, instant approval’ credit cards you now find burgeoning in your mailbox. Let’s take a closer look at this latest banker’s ploy.

The friendly, clever copy of the cover letter is designed to make you believe that taking them up on this offer may help you out of a tight spot. Nothing could be further from the truth. When you examine the fine print, you’ll see that the APR is outrageous. Should you miss a payment, even by a day, that already hefty APR automatically goes up and you’ll be assessed a substantial fine – think $75 or more! There have been many documented cases of lenders, receiving a timely payment and then deferring processing the payment for a day or two, just so they can raise your APR and assess you that substantial fine. Keep in mind that only one incident like this can then eat up the rest of your credit line!

Probably the key phrase in these so-called offers for bad credit, instant approval credit cards is ‘instant approval’. You already know you’ve got bad credit and are desperately looking for an immediate solution. Legitimate ‘instant approval’ credit card offers are approved only for those with an authentically near-pristine credit record.

If you’ve got bad credit, you need to work your way out of it the ‘old fashioned’  way. Sharpen your pencil and give your budget a good amount of scrutiny. Cut all unnecessary spending. If you have one or more small debts, squeeze your budget and pay them off, one by one. Try to make at least the minimum payment on existing credit cards. Consult with a non-profit debt consolidation organization to see if you can’t consolidate your current debt and reduce your total monthly payments. The moral to this story? Avoid those bad credit instant approval credit cards like the plague! Good luck!

Become A Financial Planner And Help Others

If you’re a high school student about to graduate, you’re probably wondering what exactly should you do with the rest of your life. At least you’ll be asking yourself what kind of work you’d like to do. You’ll look into different occupations and seek those that promise to give the greatest play to your skills, abilities, potentialities, and that holds out the prospects of good money and continued advancement. If you’re the right kind of young person, if you have the right motivations and have done your school work, you might decide to become a financial planner.

How does someone become a financial planner? What motivates them; what do they have to do, what studies should they pursue, to be a financial planner. Is the payback attractive? What other rewards besides monetary can you expect if you become a financial planner?

You are sure to be told by your counselor that you will be happiest doing what you do best. This piece of ancient Greek wisdom, Plato the source, was insightful when it was stated then, and it is still valid for most of us today. Do you enjoy working with money, numbers, planning? Are you successful at your own financial planning? Do you get a thrill when your plans come together, when the goal has been reached and the hoped for and expected actually occurs? Do you get along with people, like them, derive a sense of meaning as you help them along their own paths to fulfillment? If you can answer all these questions in the affirmative, you probably have what it takes to become a financial planner.

There are various kinds of financial planners, and those who enjoy working with individuals will probably gravitate towards personal financial planning. Such people may work for large corporations, but more often they open their own business and carry out their business as a single person consultant. They may have their own offices, even their own administrative staff. Those who get the right kind of clients, clients with money or money-making potential, are often located in the central business district of the city the work from. They may make millions (2% of managed assets in some cases), or they may make enough to live a comfortable life; they do enter this profession, after all, to make money. If you become a financial planner, and you’re good at it, you’re bound to make a fairly good living as you help others to make the most of their income. The financial rewards for you are promising indeed!

As a financial planner, you’ll help other people with a moderate to high income put their money to work for their greater enrichment, and you will devise plans, given your client’s resources and potentials, to make their money earn more money to finance their goals and dreams. You’ll have to know economics, business, finance. Getting a degree in any of these fields will lay the necessary foundation for you to become a financial planner, and you’ll have a degree you can display on your office wall like a doctor, one that assures your future clients of your competence. You’ll learn about investments, insurance, taxes, risk management, retirement planning, estate planing, education funding, all personal financial concerns. You can go on to become a certified financial planner by taking examinations from competent authorities.

Being a personal financial planner offers many rewards besides money. For many planners, helping families realize their dreams is the greatest of all rewards. Through your knowledge, experience, and art, you can be instrumental in helping others realize the meaning, the purpose, of these lives.

Car Title Loans – Look Before You Leap!

As we all know, lenders of money are nothing if not creative, when it comes to finding a way to loan you money, while minimizing the lender’s risk. Car title loans are one such vehicle. Here we take a look at how car title loans work and give you some points to consider before you apply.

In order to obtain a car title loan, you must own the vehicle free and clear, holding the title. The age and condition of the vehicle in question also must meet certain criteria. Unless you have a ‘classic’ car, which appreciates in value over time, you’ll find lenders reluctant to give you car title loans that make the transaction worth your time and money. Basically, the agreement works like this: you sign over the title to your car, to the bank, in exchange for a certain amount of cash up front, which you repay over time, just as with a conventional car loan. Let’s say you paid $10,000 for your new car 5 years ago and have now paid it off, and hold the title. The current Kelly Blue Book(R) value is now $4200. In this case, the lender will be willing to lend about $3300 on a car title loan. If approved, you get the cash and start making monthly payments, including interest.

This may be a plan in certain scenarios. If you’ve got a good credit rating and can manage the payments on a short term loan of say, 2 or 3 years, you’ll probably get an APR that is competitive with your credit cards. Naturally, you’re again paying interest on the same vehicle, but this could be a smart move.

On the other hand, if your credit rating is not good, you’ll have greater difficulty in getting the loan and won’t enjoy a good APR. If your situation is so shaky that you’re not absolutely certain you can meet the monthly payments, you may not want to risk having your car, paid off once, repossessed the second time around!

Be certain to check the fine print and the guidelines for your state.  In some states, for example Texas, car title loans are exempt from government restrictions and it is not unusual to find lenders who rape you with an interest rate of 299%!  On a title loan of only $450 you would be required to pay an interest only payment of around $113 per month.  Any payment above that would be paid toward reducing the principal.

Taking car title loans can be a risky business, for you. No longer in possession of the title, the car becomes the collateral for the loan, leaving you open to losing your transportation when you need it most!

Be sure of the amount you need to borrow. If you don’t need but $1000, car title loans can be arranged for just that amount. You don’t need to borrow the maximum amount. The smaller the loan, the better you’ll make out in overall cost.

Another strategy you may want to employ is that of speaking with a financial consultant, or your own bank, to see what other options might fulfill your financial objectives, both in the short and long term.

Car title loans can be an efficient way to handle cash shortages – in some situations! Look your situation over carefully!

Bad Credit Cash Advance

There are times when you plain and simply need some money! However, what will you do if you have nothing tucked away in savings, you have no credit card you can resort to, and you have bad credit from a few bad decisions over the years? Well, luckily for you, there are bad credit cash advance programs that can be of some assistance. Depending on how much cash you require, these lenders can help you acquire the money you need in no time at all. So, before you just assume that bad credit means no assistance from lenders or banks whatsoever, be sure to think about bad credit cash advances, which can be found online.

Maybe you are about to be late on a couple of bills. Well, you cannot just avoid paying your power and water bills. After all, you truly do need these services to live a normal lifestyle. Furthermore, if you have ever dealt with power companies or the local water company before, then you know that they cannot be crossed too often. After a couple times of not paying your bills, they may just go ahead and shut your power or water off. This could be truly awful. Especially if you have a family. So what you need to consider is a bad credit cash advance from one of the easy-to-access lenders like My Cash Now or Pay Day One.

Your credit is clearly important to you! After all, how can you ever expect to purchase big ticket items with bad credit? The reality is you need a good credit score if you plan on living a decent lifestyle and having the things you want in life. This is where bad credit cash advances come into the picture. Although you may have been late on some payments or bills in the past, this is no reason to let this happen again and again. If you do, your credit will even get worse. So take the initiative to check out websites like MyCashNow.com, paydayone.com, and CheckIntoCashOnline.com. These are the professionals that can help you.

It is no big secret that most people struggle at times with money and finances. After all, working for a living is a challenge. No one can be expected to have all the money they need all the time. That is not how it works in the real world, because there are always additional expenses that arise at times. Expenses that you do not expect, nor do you plan for. Fortunately there are bad credit cash advance solutions these days to assist you with this financial dilemma. If you have a moment, go ahead and visit the websites for My Cash Now, as well as Pay Day One. This way you can obtain a better understanding of how this process works.

Bad Credit History – How It Can Effect You!

A friend of mine had been struggling with somewhat serious credit card debts of about $9000 that he carried for quite a while and hadn’t been able to pay back. It wasn’t anything frivolous that saddled him with that sum – his newborn child had serious problems starting out and my friend needed to dip into his credit cards to help manage the situation. But there’s something that came out of his credit card situation that he never knew to expect – he says his bad credit history got him fired from his job. The surprising thing here is that he works for the government, for the Defense Finance and Accounting Service in Ohio. They say that bad credit history ruins a person’s security stature in a way that will be difficult to accept at a high-security government position.

But that employer is hardly the only one; there are so many people now with bad credit history, their conditions brought on by all the foreclosures and the unemployment of the past two years; and more and more, employers, both governmental and private,  are using credit background checks to make sure that they don’t have anything to do with employees with bad credit. There is a reason they say why your credit history should matter. They just believe that the more you are in trouble financially, the more you will be tempted to swindle the company, to embezzle, to accept kickbacks or indulge in unwholesome financial practices.

So are they being completely unfair or is there a certain amount of logic to their position? If you ask me, I’d go on the side of saying that they were just being bloody-minded. More than one out of ten employers have made credit checks a part of their background screening process – for every job, and not just the ones where an employee would come into contact with money or anything to do with money. And secondly, no one has ever proved, not even close, that people with bad credit history and financial problems are likely to steal or indulge in anything dishonest.

About one out of four employers readily admits that if they got an application from someone whose credit report mentioned a bankruptcy at any time at all in his life, that they would not consider him. The thing is, to hold a person’s credit situation or bankruptcy against him in employment goes against equal opportunity employment under federal law: it is actually illegal. Not that a little illegality would stand in the way of wanton insensitivity at these companies. In fact there’s been a bill being passed that prohibits companies from conducting credit checks at all on employees or on potential employees. The law does make exceptions for certain businesses like banks where employees have to work in close contact with lots of cash. There are lots of other states that are passing these laws too – Washington, Hawaii and many others.

The government has intervened and my friend has his job back now, but no one knows for how long. Basically he just lost his job because he happens to be in an office where they pay the bills of the Department of Defense. That really shouldn’t have to be high-security. Pretty soon, there could be lots of companies that find reasons to fire someone because someone happens to have some remote form of access to customers’ credit card numbers. A new law when they pass it throughout the country, should make sure that there are no loopholes possible that businesses could use to just claim that they had to pull an employee’s bad credit history and fire him because there was some way they could prove that he happens to be within ten feet of someone’s credit card number.