Dealing with a financial emergency is easy with a payday loan. This type of loan helps you deal with an unexpected situation, such as a medical emergency or the payment of overdue bills. You can pay back the loan with your next check. So, you will have this burden for no more than a few weeks. Given below are 5 benefits of a payday loan.1. SpeedWhen provided required information, most lenders will grant you the loan almost instantly. The procedure is quick and easy. Unlike the traditional loan procedures, you won’t need to fill in a bundle of forums. The process will take a few hours and the funds will be deposited in your bank account on the same day or the next day in some cases. In other words, you won’t have to wait in the queue for your application get approved and the loan granted. The paper work will take a few hours and the money will be in your hands.2. ConvenienceSince the procedure is carried out online, you won’t need to see the loan officer in time. The application will be sent online and you will get the credit in the form of cash. You can use the cash on anything you want. On the other hand, with the credit card, you can only pay for a service or product.In case of a payday loan, you can use the cash to buy goods or pay your bills. On the other side, other traditional loans are granted for a specific purpose, such as for buying a car or home.3. Easy RequirementsSince a payday loan requires you to meet a couple of fundamental requirements, the access to the service will be a lot easier. One major requirement is that you have to have a stable source of income. If your income is stable and verifiable, you are good to go. Actually, the lender needs an assurance that you earn enough to pay back the loan.On the other hand, conventional loans require collateral. Another requirement that you need to meet is that you must have an active checking account and you must be a registered resident of your state. Aside from this, you have to be over 18 years of age to apply for the loan.4. Qualifying for a Higher AmountSome payday lenders put limits on the amount that they can lend. In other words, you can apply for any amount as long as it is within the amount of salary you get each month.Usually, the amount of loan that can be granted is set by the state. During the application, you will know how much you can borrow. If you pay the loan back in time, you can develop a good relationship with your loan provider and get a higher amount of loan the next time, which is a great plus point.5. Credit RatingFailing to pay back your loan means you will adversely affect your credit score. Besides, you can incur fines and penalties, which will add to the cost of the loan. On the other hand, a payday loan helps you deal with your financial emergencies in a quick and easy way. Even if you have a bad credit rating, you can get a loan within hours. Since you pay back these loans within a month or so, your credit rating won’t get affected and you won’t have to face legal consequences.So, these are 5 benefits of a payday loan. If you have an emergency to deal with, you can apply for this type of loan.
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The self employed face is a logistical obstacle when applying for a mortgage. They deduct business expenses on their tax returns in order to have a low net income, which saves them money at tax time, but their mortgage lender uses that net income figure to determine their annual income. The bookkeeping discrepancy can make the self employed borrower appear to have a low income and high expenses, even if the situation is just the opposite. Sometimes, the best option for the borrower is to take an adjustable rate loan and then plan a self employed mortgage refinance for the future.The best candidates for a self employed mortgage have great credit, little consumer debt, two or three years of audited financial records, and cash to use for a down payment. There are, however, many cases in which all of these stars do not align. Self employed borrowers are considered high risk by lenders because their income can vary widely from month to month, and because income can’t be accurately estimated into the future. They may only qualify for an adjustable rate loan, or a high interest loan. Borrowers may choose to take the loan they qualify for, no matter the rate, and do a self employed mortgage refinance when they meet more of the lenders’ terms.When borrowers have low net income on their tax returns and can’t prove to the bank that their actual income is higher, they may be approved for a loan amount with a lower monthly payment than a wage earner with a comparable income. The borrower may choose to take fewer deductions over the next few years, in order to have a record of higher income, and then begin a self employed mortgage refinance to either qualify for a lower interest rate or a shorter term loan with a higher monthly payment. Of course, this option is for self employed borrowers who are confident that their income is higher than the bank determined.Planning ahead financially is important for the self employed, because of their variable monthly incomes. Budgeting ahead may be more difficult with an adjustable rate mortgage. Self employed mortgage refinance would be helpful in the case that it switched the borrower’s mortgage to a fixed rate, allowing for easier future planning. Over time, the self employed borrower may establish a relationship with his lender and bank, and prove that he can reliably make the monthly mortgage payments, thus allowing him to consider a fixed rate refinance.
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If you’ve recently lost your job or are self employed or work as a freelancer, you may not have health insurance. You’re not alone. Hundreds of thousands go uninsured due to financial reasons.Others may be staying in jobs they hate “because I need the health benefits” and they worry about what to do if they make a transition. You’re not alone either. Good health is a huge priority. Without that, everything else can fall apart.I’m a strong advocate for taking preventative health measures. But part of taking preventative measures is making sure you see your physician for annual general checkups along with followups, and seeing a physician when you know something is wrong.Since it can be confusing navigating where to go to obtain health insurance during such times, I thought the following might help.The American Diabetes Association has put together a very helpful resource guide for you. I’ve used New York here, since many of you reside there but you can get the same information for ANY state by clicking on your state on the red map on their website.NEW YORKThe following information details health insurance and assistance programs available to uninsured people in New York.If you currently have health insurance or have just lost health insurance coverage within the past 60 days, visit the health insurance section of the American Diabetes Association website for options available to you.New York Insurance Department – (800) 342-3736Residents of New York cannot be turned down from purchasing an individual health insurance policy regardless of any health conditions they may have. This is called guaranteed issue. In addition, residents cannot be charged a higher rate for their policy because of their health status. This is called community rating. The New York Insurance Department may be able to help you locate names and phone numbers of possible insurers who will sell you this type of policy. Please contact them for more information.If you are having a problem with your state-regulated health plan and you are unable to resolve it with the plan directly, file a complaint with the Insurance Department. They may be able to provide you with assistance in reaching a conclusion.New York Health Insurers Guide AvailableThe New York Consumer Guide to Health Insurers provides information about the wide range of health care options available in in the state and enables New Yorkers to compare commercial and non-profit health insurers as well as health maintenance organizations (HMOs) on a variety of factors, from services offered to overall consumer satisfaction. This guide can assist you in finding the best health care plan for you and your family.New York Medicaid – (518) 486-9057Medicaid is available to anyone who meets income and eligibility criteria. Even if your income meets the criteria, you must fall into one of the eligibility categories in order to qualify. Contact your state Medicaid program for more information.Healthy New York – (866) 432-5849The goal of the Healthy NY program is to provide health insurance coverage to eligible uninsured working individuals and self-employed individuals. This program is also available to small businesses that are not currently offering health insurance coverage to their employees. You must meet certain income eligibility criteria to qualify. Please contact Healthy New York for more information.Child Health Plus (CHPlus) – State Children’s Health Insurance Program –
(800) 698-4543Child Health Plus is the health insurance program designed to provide health insurance to children and teens under age 19 whose family may have too great an income to qualify for Medicaid, but who may not be able to afford health insurance. Visit the Web site to find out if you or your child meets the income guidelines.New York Family Health Plus – 1-877-934-7587Family Health Plus is a health care program for uninsured adults between the ages of 19 and 64 who have incomes too high to qualify for New York ‘s Medicaid program. Family Health Plus is available to single adults, couples without children, and parents with limited incomes. Individuals must meet residency and certain immigration qualifications to be eligible.If you or your loved one is unable to see a physician due to the cost of care, there may be a local community health clinic in your area. These clinics generally are free or require a very small fee for patients to receive care. Find a clinic in your area.For those with preexisting conditions, there are advocacy groups working on your behalf. If you have trouble finding one, message me and I’ll send you a link.Also, if any freelancers have had a good or bad experience with certain health insurances, please message me as it’d be helpful to know which ones are working well and which are not.Hope this helps.Quick Link to Map for Health Insurance in other States:
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