The Best Options for Your Caravan Finance

Options for Your Caravan Finance

Buying a caravan can be a great way to organise more flexible holidays and weekend breaks. It can provide you with a home away from home, with all of your creature comforts. You can travel anywhere you would like to visit, spend one night or several without needing to worry about expensive hotel accommodation or costly restaurant bills. However, unless you are in a very fortunate financial position, it is likely that you will need to consider finance to fund the purchase.

Dealership Caravan Finance:

The most obvious place to look for your caravan finance is the dealership where you are purchasing the caravan. While this can be a great place to secure automotive finance, consumers should not assume that they are automatically obtaining the best auto finance rates. The dealership may have some attractive packages, but be sure to read the small print to check for any hidden fees or charges, and compare the rates with other providers before you commit. In many cases, the sticker price for the finance options are often based on longer term loans to make the monthly charges more attractive. Although this means that your monthly expenses will be less, you will be paying far more over the term of the loan. Always check the total finance cost in addition to the APR and monthly payment estimates.

Bank Loans:

Another source of financing is a loan from your high street bank. Most banks and financial institutions advertise some great loan deals for any purpose. However, you should be aware that since the global finance crisis, many banks are reluctant to lend to those without an excellent credit record. If you have less than perfect credit, you may not qualify for the advertised rate and will be offered a less competitive deal. Again, be sure to compare any quotes to check if it is the best possible deal.

Specialist Caravan Finance Broker:

A broker can be the best way to get a great deal on your caravan finance. Reputable brokers have access to a range of lenders who specialise in certain types of finance. The broker can search for the most competitive deals, allowing you to compare caravan finance rates without needing to fill out multiple forms and applications. A broker can assist you even if you have less than perfect credit as they will have access to a number of companies with more relaxed lending criteria. The broker can assist you with the paperwork, making the loan application process far less stressful and frustrating.

Learn the Importance of a Specialised Finance Broker in Getting Development Finance

Development Finance is a specialised form of funding suitable only for professional builders and developers. This form of funding will require the assistance of a professionally qualified and expert finance broker who has the required skills and experience to negotiate the finance on your behalf.

Suitable Development Finance Projects

If you are a professional builder or property developer, you must speak to an expert finance broker, who will help you in understanding the finance strategy required to fund any of the following projects:

>> Residential construction

>> Commercial property

>> Industrial property

>> Retail property, and

>> Land subdivisions

What Information do I need to provide?

Lenders/credit providers will look at a number of areas when they are considering your loan request. You will need to present a full proposal to the lender/credit provider, and they will require you to provide the following information:

>> Your Business Plan, which should list your background, professional qualifications and your trade and project management experience

>> Your experience as a property developer

>> The location of your proposed development

>> Development Type (Residential or Commercial)

>> The profit potential of the development

>> Your financial statement of accounts and personal assets and liabilities to determine your development cash flow

>> The amount of equity that you will bring to the development project

>> Copy of the planning consent and drawings for the scheme

>> Comparable evidence for the resales

>> A suitable exit strategy

Can I get an “In Principle” Decision?

When you are applying for development finance, you should have all the required information available so that the lender/credit provider can review and assess your finance proposal. The lender/credit provider will advise you:

>> If it is possible to arrange the required finance for development project, and

>> How long it will take to obtain an “In Principle” decision (You must remember that the lender/credit provider will make the final decision)

Why Choose a Professionally Qualified and Specialised Finance Broker?

It is always wise to start the development finance process with a professionally qualified and specialised finance broker because:

>> They will help you to prepare a Business Plan, which will set out your development finance requirements in exactly the way that lenders/credit providers wish to see

>> They know what the standard requirements for development finance loans are

>> They can accommodate a much faster credit decision for you, provided that they receive from you all the required documents as soon as possible (e.g. your professional qualifications, trade qualifications and certificates and your previous building or development experience)

>> They can structure a Customised Development Finance funding strategy that will meet your needs regardless of the size or complexity of the building or development project

>> Through their extensive network of specialised lenders/credit providers and private lenders, they are better equipped to offer you access to funds for your required building or development project

>> They can help you to secure the required finance so that you can fund all the stages of the construction cycle:

1. From financing the initial purchase of the land

2. Through to progressive construction draw-downs, and

3. To enable you to cover all the approval costs

So, this is what you, as a professional builder or developer, need to know about development finance. I sincerely hope this article helps you to understand why you need to seek assistance from only a professionally qualified and specialised finance broker.

Credit Card Debt Elimination and Settlement Options

The “Fair Debt Collections Practices Act” (FDCPA at U.S.C. Sec. 1692) defines a “debt” as any kind of obligation, or an alleged obligation that a consumer is “deemed” to pay – the financial “obligation” arising due to a transaction(s) in which money, property(ies), insurance or services are used, hired or bought for personal, family, or professional “purposes”. The “debt” can also include the money owed for the purchase of commodity and/or consumable product(s), and/or also for medical care or medical product(s). If you have serious credit card debt problems, or you have defaulted in the past and your dues are mounting, ideally you would be planning to redeem your debts as soon as possible. However, the financial conditions of debtors play an important part in deciding how the redemption process will take place. It is important to be debt free, and to lead a comfortable and a happy life. However, the repayment activity of outstanding credit rarely works out as per plan, and the debtors often face difficult times dealing with their debt problems. Severe debt issues can lead to many types of problems. Companies offer programs related to debt settlement, debt elimination, debt negotiation and debt solution which can effectively reduce your total outstanding debts. Prevention is always better than cure. It is important to know the “warning signs” which lead to a particular disease – the disease of “uncontrolled debts”.

Symptoms indicating you are suffering or likely to face debt related problems
Are you:

1. Running out of funds before the month ends?
2. Worried about bailiffs “knocking” on your door?
3. Not sure how much debt you owe?
4. Afraid who is on the phone every time it rings?
5. Ignoring your bank or credit card statements and not opening up credit related correspondence?
6. Losing your sleep and worrying excessively about the state of your finances?
7. Afraid your property will be repossessed?
8. Spending more cash than you earn every month?
9. Having a CCJ and unsure what it is?

In case you answer in the affirmative to any of the above questions, it is time you started thinking seriously about your debt conditions and how to eliminate them through an effective debt elimination plan.

If and when you decide to take on serious steps to eliminate your credit card debts, it is necessary to think about a few things before you “actually” start working on the issue. The following recommendations can help you a lot if you desire to eliminate credit card debt and start planning your future.

1. Avoid using your credit cards
The first major step to undertake is stop using your credit cards. All your credit cards. And this rule should be enforced for all cashless transactions beginning immediately. Purchasing commodity items such as gas and food with your credit card can be very “convenient”, but it is guaranteed when you are short of time, as the case generally is, you won’t be checking your “outstanding” balance before “making” the payment. And your debts are very likely to increase. When you have an outstanding condition, the “due” amount can easily go out of hand. It is recommended you start using your debit card or cash for your purchases. Individuals tend to be much more “frugal” when they “feel” they are spending hard cash. People spend much less when they stop using credit cards.

2. Reduce your net payable interest rates
Majority of the credit card companies charge in excess of 20% in terms of interest rates. These higher interest rates can be negotiated for lower rates, and your net payable interest amount can be significantly reduced. Even reducing your net payable rates by 10% or 12% is quite common while seeking debt help. It is possible to avail your credit card debt settlement if you play your cards right and negotiate with your creditors to reduce your debts.

3. Pay more than your “minimum” balance
Just paying a minimum balance means you are barely meeting your debt overheads. If you miss paying even a single installment in a particular month, it is going to be difficult catering to additional overheads, since the next month will have its own “dues” which will add on to the previous debt amount.

4. Redeem your interest rates in an organized manner
Financial consultant and planners advise a steady “payoff” method in which you pay off your highest interest rate credit card debts first. While it may appear to be a logical approach to erase your debts, in fact it is not always the case. From the psychological point of view, some individuals are more productive while utilizing the “bottom up” approach in which you start paying off the lower owed amounts first, regardless of the associated interest rates. At times people prefer to pay the largest debts first since they have higher interest rates. It is important to choose the method that best suits your personality and needs. Seeking professional help can be a good option since you start availing proven methods to achieve your goal of paying off the credit card debts in totality.

5. Consolidate your debts into one payment
If you have creditors who refuse to “budge” or help you with your debt problems, it makes sense to combine all your debts into a single financial package consisting of a low interest rate. Credit card consolidations can be helpful, often allowing you to redeem all your debts at a go. The distinct advantage is you cater to a single loan and a single creditor, so you save a lot of time and energy while repaying your debts. The “extra” time can be utilized for more productive purposes such as income generation.

6. Reduce your spending or earn more money
You automatically start saving money when you curtail your spending. A penny saved is a penny earned. Spending less takes discipline. But it has a big advantage while paying off your credit card debts. A little bit of frugality does not make a drastic change in the way you live, and the money saved can be used for paying off your debts. Outstanding and untended debts can lead to serious issues such as foreclosures.

7. Debt negotiation programs
Debt negotiation programs help in debt elimination. Many debt negotiation or debt settlement companies help in avoiding bankruptcy related issues. The negotiation process involves an arbitration process or activity between you or your representative and your creditors. Positive efforts are made to reduce the net payable interest and avail reduced monthly credit repayment schedule. This can result into a steady pay off of your monthly dues, which in turn can improve your credit ratings. At times the negotiation programs are also know as debt settlement programs since the basic objective of negotiation activities is to settle your debts.

Awesome Tips for Debt Relief

Trying to get out of debt? You can join the rest of the country in doing so!

Study shows that most American households are riddled in all kinds of debts. The top three include mortgages, student loans and credit card debts. This is only one of the negative aftermaths of the recent recession. While the country is slowly and steadily recovering from it, several consumers are left with mounting debt. Although the employment rate is climbing, it is not enough to solve the debt crisis.

Because of this scenario, consumers are looking at various debt relief options that will help them eliminate their debts entirely. This is a dream and fortunately, all these debt relief options really work! The challenge lies in choosing the right option to go for. Couple that with the debtors commitment to see their debt relief plan through and to discipline themselves in terms of their spending habits and they will eventually gain financial freedom.

Before you can proceed to choose how you will eliminate your debts, you need to analyze your financial standing and capabilities first. List down three things: your income, expenses and total debt amount. You need to know how much money is coming in, how much you need to pay for basic necessities and how much you are required to pay for your debts.

The goal of is to create a budget plan that will allow you to pay for your debts while having enough to pay for your basic needs and even a small amount for your emergency fund. If you are wondering why you need to put away money for this fund instead of sending it to your creditors as payment, it is to avoid taking out more debt in the future. A lot of debts are incurred when an emergency happens so it is best to prepare for this scenario while you can.

Once you have a clear picture of your financial standing and how much you can afford to pay for your debts, it is time for you to choose your debt relief option. In truth, your choice will depend on your finances. In evaluating, here are tips to help you determine which path you should follow.

If you are able to pay for the monthly minimum without sacrificing your basic necessities, you can opt for credit counselling. They will help you create a payment plan and will provide expert advice on how you can tackle your debts. This is the best option to keep your debt woes out of your credit history. By getting financial advice, someone can help you stay on track to debt freedom.

But if you cannot afford even the minimum payments of your combined debts, you may want to consider debt settlement or debt management. This is the option that will help your reduce the outstanding balance of your debts by proving that you are unable to shoulder the original amount you owe. Hiring a professional debt settlement negotiator will give you the best result. Most of the time, they have a current working relationship with creditors and are more knowledgeable of how to negotiate for a settlement.

Debt consolidation loans can be an option if you have a good credit standing and a collateral to put on the line. You can get a secure or unsecured debt to help you pay for all your debts and eventually come out with only one monthly payment and interest rate to worry about. This option will not make your debts any lower and will have an effect on your credit report. It will, however, help you manage your debts better.

If you are in a more critical situation than the 3 scenarios mentioned above and you are unable to pay for your debts at all, then bankruptcy is the last option. This is when you file for bankruptcy in court and your creditors can no longer collect anything from you. This should be your last resort as it has very heavy effects on your credit history.

Debt Counseling Presents A Systematic Method Of Clearing Debt Load

It was my wife who first introduced me to debt counseling and I thought it would be just another agony uncle whom I would have to deal with. However, it was not late that I was proved wrong. It was through debt counseling that I survived the deadly debts to recount its benefits.

Debt counseling is the advice offered through experts on several debt related issues. Debt counseling has a two-pronged strategy. While the advice focuses on ways to counter the current debt load, the borrower will also be informed of methods to prevent debts from originating. Thus, debt counseling plays defensive as well as a preventive role.

The defensive strategy will be employed for situations where the debt load is sufficiently large. In my case, the debt load was substantially large. My personal savings and monthly income would have lessened the burden a little. But, there were other expenses too that needed to be paid through the same limited income. By channeling my income towards debt settlement, I would only have paved way for newer debts.

Debt counseling showed the way out. Large number of people in the UK owe their freedom from debts to debt counseling. In fact, the very first lesson that I learnt from debt counseling is that I was not the only person who had debts. There were many others who have even messier finances. The statistics are really appalling. How come so many people, belonging to so rich a country as the UK, be so vulnerable to debts? However, people do incur debts. A desire to have almost every material comforts, often pushes people to spend rashly. On most occasions, the expenditure is without any consideration for the sources of payment.

However, as the pressure of the creditors mounts, the very first priority of debt counseling will be to design a way out for the debtors. Presently, there are a number of debt elimination options available in the UK, namely debt consolidation loans, debt consolidation mortgages, debt consolidation through remortgage, home equity loans and credit cards. Each option has its own set of advantages and disadvantages, and it will be really difficult to make a choice for one of these. Through debt counseling, borrowers can also get help during the product selection process.

Since I had a large debt load, the debt counselors suggested that I take up a debt consolidation loan. They did not force the product on me. This is one of the peculiarities of debt counseling. The debt counselor presents an impartial view of the various products. However, not all debt counselors adopt a similar view. Most of them will sell their products in the guise of debt advice. Borrowers need to stay clear of such advisors. As in medical sciences, second opinion is always beneficial during selection of debt settlement products. There are a large number of profit and non-profit agencies and individuals who provide genuine and professional advice. Some of these, like Independent Financial Advisors are bound by the rules laid down by the Financial Services Authority to offer genuine advice.

The preventive role of debt counseling is more of an advisory nature. The aim of this exercise will be to instill debt sense in the people; though this will prove a Herculean task, given the strange relationship of people with debts. The role may take the form of a face-to-face meeting with an individual, or a conference wherein a number of people are addressed at one time.

During these sessions, the debt counselor advises borrowers of ways to deal with debts. Debt consolidation loans and debt consolidation mortgages can at the best relieve individuals of debts for sometime. However, if the individual does not improve his spending habits, he will again have a large debt load. Through preventive debt counseling, the debt counselor aims to strike at the roots of the debt.

Some of the principal debt counseling tips include:

  • Do not spend more than what you earn.
  • If the expenditure is necessary, then a provision needs to be made for its payment.
  • Every individual must prepare a priority list showing the importance of each expenditure.
  • Try to generate newer sources of income.
  • If a debt has been incurred, then it must be repaid with priority.

Preventive debt counseling tips are not new to people. They may have heard of them from their parents or recited them in moral science classes, but all these lessons vanish while spending. A workable debt counseling method must be practical enough to be implemented. The borrower’s finance needs to be studied exhaustively for finding an effective solution. No debt counseling is complete without the borrower’s participation. Consequently, borrowers need to tread safely on any debt decision that they make.