legal-financing-new-niche-for-financial-services

Legal Financing: New Niche for Financial Services

Writen by Robert Draper

How to finance a lawsuit is not common knowledge among the general populace, much less among the legal field as a whole. Pre-settlement lawsuit financing is a relatively new phenomenon in the financial services sector that is a little over six years old. Basically if a lawyer has a case brought to his firm and upon initial review determines it has strong merit - he will then need time and money to develop and “flesh out” certain basic facts. This phase, called the “discovery period” can last several months to several years depending on the complexities involved.

If the firm’s financial resources cannot sustain this expense, there are funding sources that will advance the necessary capital. They specialize in finding cases that have a strong likelihood of being winners and have an in-house staff of attorney’s that review such cases. Once the law firm is confirmed as a valid risk by the funding source, money is advanced, normally in stages up to an agreed-upon limit. A lien or legal claim is then created so that upon settlement the principal and fees are dispersed to the funder. In the event the case is lost; most funders have no recourse - so obviously their legal team will look with hawk eyes to the merits of the case.

Another recently created niche in this arena is personal injury lawsuit financing, also called pre-settlement legal financing. Look in any major yellow pages under attorneys and personal injury law firms will predominate. Many people who have sustained an injury - be it in an automobile accident or slip and fall, etc. - cannot because of their condition continue to work. Their lawyers can fund items directly related to the case but cannot directly give personal advances to their clients in most states because doing so would be a conflict of interest.

The same basic procedure applies here in that these funders have lawyers in-house that are familiar with these cases and can determine the odds of a winner fairly quickly. The injured parties are advanced money that allows them to pay their bills and survive until a settlement is reached. For most people in this situation, going up against an insurance company means deep pockets and lots of patience.

An important point should be noted here - these funds are not loans. A loan normally has a well defined payback schedule, usually on a monthly basis and there is an agreed upon date for final payment. The correct term is called an advance and the fees are based on the amount of risk involved. A case could conceivably run from several months to several years - there are no hard and fast rules. The advance has no “up front” fees or monthly payments due and again if the case is lost the client is under no obligation of repayment.

For the reasons just stated, these funds are priced according to the risk involved. However, for many people who have run out of resources, this does give them staying power to go up against deep pockets and very possibly receive a larger settlement. The lawyer may also be helped by not having to settle quickly.

Some have expressed concern that this type of service will lead to a further growth of litigation and “frivolous” lawsuits. Actually the opposite is true. Attorneys for the funders must judge each case with very clear eyes or they stand to lose not only all money advanced but possibly their own jobs. They act as a kind of sifting mechanism separating the wheat from the chaff.

This service is not for everyone - however for attorneys that come up against massive pre-trial expenses and for their clients that have no other way of sustenance until a settlement is reached pre-settlement funding does offer a viable alternative.

will-my-home-be-at-risk-if-i-take-out-a-secured-loan

Will my Home be at Risk if I take out a Secured Loan?

Writen by Peter Kenny

There are as many uses of personal loans as there are people who borrow them and most lenders will be happy to allow you to borrow for whatever purposes you desire. However, there are a couple of general principles that you should apply when deciding how much to borrow, what type of loan to take out, and how long you want to take to repay the loan.

One of the first and most important guidelines in this regard concerns secured loans. Secured loans will be secured over your home and will give the lender a right, in the event that you fail to repay your loan, to sell your home to recover the amount owed. This is a serious event that you will wish to avoid at all costs and by following a few simple principles you should be able to drastically reduce the chance of this occurring.

Many people worry that their home will be put at risk if they take out a secured loan over their home. This is because any secured loans that you take out will give the lender a right over your home. This right allows the lender to step in and take possession of and even sell your home in order to recover the amount you owe him if you fall behind in your payments or otherwise breach any of the terms of the loan. The answer to whether or not your home is at risk will, as always, depend to a very large extent on your own personal and financial circumstances.

In general, people take out secured loans all the time and in the vast majority of these cases, there will be no significant danger to their homes. In fact, in most of these cases, the taking out of a secured loan will in fact be a wise financial move that will result in savings, useful investments, or otherwise improve the financial situation of the borrower.

However, there are cases where lenders have been willing to lend to people, far more money than they can afford to repay simply on the ground that there is security for the loan. If you look at the situation from the point of view of the lender, they will only see that there is security for the loan and that therefore, whatever they lend to you will be safe as they will be able to recover it by selling your home if it turns out that you cannot manage under the payments. In these cases, the lender has taken little notice of or paid very little attention to the ability of the borrower to repay the loan and have allowed the borrower to borrow more than they can afford. In these circumstances, there is a good chance that the home of the borrower will be at risk.

Therefore, you should always budget carefully before taking out any secured loans and make sure that you can properly afford all of the repayments in full. You should add up all of your income and all of your current expenditure and see if you can afford the proposed repayments on the loan. So long as you can comfortably afford these repayments, allowing yourself a little room for the unexpected so that you are not spread to thinly on the ground, you can take out the loan, but if you have any doubts whatsoever that you can afford the loan, then you should forget it. You should never assume that simply because a bank or lender is willing to give you a loan that you must be able to afford it.

Before taking out a secured loan, think carefully about all the implications that may occur if you default on any repayments. Always make sure your finances are in order.

Sometimes you may be able to get a better interest rate from a secured loan company just by simply asking for one! Try and call the company, it is always better to speak to someone in person.

money-management-advice

Money Management Advice

Writen by Lucy Fox

Avoid unnecessary debt, especially debt that has high interest such as credit cards. Pay all debt off as quickly as you can, even if it means taking out an extra mortgage to do so.

If you are saving, then make sure you know what is you are saving for. A house is always the best thing to save for. A car will always depreciate very fast, and vacations are a very quick way to burn savings.

If you are saving a portion of your money, such as 10%, then make sure you stick to it. If you are budgeting then make sure you stick to that too. It is very easy to do, after a while it just becomes habit.

If you are looking to build a share portfolio you really should learn something about investing in stocks first. It’s not a good idea to just leave it to a stock broker, they do not care about your money as much as you, and they work on commission. Choose some companies that you really think are a good investment. Do some research into the companies and find out what products they offer. Choosing a company just because they have a product that you love can be an investment strategy. Alternatively choosing companies that you think have great potential and good future are other reasons.

If you want to invest in real estate then to make any decent returns you will need acquire debt in the form of a mortgage. This debt is much safer as it is secured with real estate that is bringing in income to cover the interest on the mortgage.

It is because real estate is so secure banks will lend you money against it. This creates leverage in your investment. Banks don’t lend money for you to invest in stocks.

Real estate is the preferred investment choice for many people who know little about investing. If you don’t have the time to learn how to invest in stocks then this should be your choice of where to allocate your savings.

a-guide-to-career-development-loans

A Guide To Career Development Loans

Writen by Peter Kenny

If you are finding your current vocation a bit dull and want a lift, or feel that you could do more in your current career, then perhaps you should look at getting a career development loan. Career loans can help you to learn more about

your career by helping to pay for your extra education. If you want to get ahead in your career and invest in learning, then here is some information to help you learn more about development loans.

What are career development loans?

Career Development Loans, or CDLs, were launched back in 1988 and are part of a government program to help people further their education so that they can improve their skills within their chosen vocation. They are available for people who are employed, self-employed and unemployed, as long as they meet the criteria.

How do I apply?

Applying for a CDL is like applying for any other loan, in that you have to meet certain criteria in order to be accepted. If you are applying for a vocational course that lasts no longer than 2 years, or three years if part of the course is practical experience, then you could be eligible for a CDL. CDLs are available from a select few high street banks, and although you don’t have to be a customer of theirs, you will probably need to open an account with them to receive the loan.

Deferred repayment

The main advantage of career development loans is that they are what are known as deferred loans. This is similar to a student loan, in that you only start making the repayments after the loan term has finished, which is generally just a

little more than the length of the course you are taking. During the loan term, the Department for Education and Skills (DfES) pays the interest, and then once the loan finished you repay the loan using a fixed rate of interest. Although

the rate can vary from lender to lender, they are generally lower than normal personal loans because they are part of a government initiative.

How much can I borrow?

In general you can borrow between

Get Your Vitamins Naturally When Possible

There’s no doubt that there are times when supplemental vitamins are a good idea, but the best way to get your daily requirements of all vitamins is to consume them naturally. The problem is that most people don’t eat enough of the right foods to get all the vitamins needed to keep your body healthy.

One of the strikes against getting the right vitamins through diet alone is time. It simply takes time to stop for breakfast, lunch and even dinner. Another is the sheer availability of fast food. Most people are filled with the need to grab something to eat on the go.

Arguably the biggest strike against eating right is simply habit. We tend to grab a package of chips instead of an apple or banana for a mid-morning snack. A donut and coffee could easily be replaced by a muffin and fruit juice or milk, but we tend to crave those less healthy foods. Take a minute to consider some sources of vitamins that could easily be part of your daily food intake. You may be surprised at easy a few substitutions could be.

Orange or apple juice instead of one soda a day. You’ll be surprised at how quickly you develop a taste for the juice. With this one change, you’re greatly increasing your intake of Vitamin C, needed to keep your immune system healthy. Not only that, apple juice provides a pick-me-up very similar to the caffeine rush some people look for.

Bake it, broil it or eat it raw. We tend to fry so many foods - including the popular potato. Instead of French Fries at your next meal, choose a tossed salad or baked potato. Unless counting calories is an issue, slather on the dressing or sour cream to make it more appealing. The bottom line is that baked or raw veggies are generally higher in vitamins than their fried counterparts.

Breakfast cereals are often fortified with vitamins - even those “good” cereals. Choose foods fortified with vitamins instead of those “empty” calories to help get the vitamins you need to keep you going throughout the day. Manufacturers are meeting the demands for “food-to-go” with cereal bars and other nutritious foods that are rich in vitamins.

At the end of the day, most people simply don’t eat right. If you measure the intake of vitamins over the course of a typical day, you’ll probably find that you’re not getting all the vitamins you need. When that’s the case, find good vitamins in the form of tablets, chews or other supplements as the next step.

Bob Benson is the founder of Furniture online. You can check out our website at http://www.anti-aging-natural-supplements.info

[tags]vitamins, health supplements[/tags]

a-brief-history-of-the-exchange-rates

A Brief History of the Exchange Rates

Writen by Ispas Marin

Where did these exchange rates come from? Have they always been used in relation to foreign currencies? How did they evolve along the years?

If you wonder about these things, the first thing you should know is that the exchange rates haven’t been used since the beginning of trade. Gold was the thing used to back the currencies for a very long time. What did this mean? It meant that a currency issued by a government represented a certain amount of gold that existed in that government’s vaults. The fact that a person owned that currency meant that person really owned a certain amount of gold.

But this balance was about to be changed as the US government set the value of the dollar at a unique level: 35 dollars would buy you one ounce of gold. This thing happened in the 1930s. After the end of the Second World War, countries started to consider the US dollar a strong basis for their currencies. The reason for doing this was the fact that the US dollar value was well known, so a currency based on the dollar would actually be based on gold. For instance, if a certain currency was worth three times more gold than the US dollar, then it actually worth three US dollars.

But this system became outdated quite fast due to the amazing evolution of the world economy. The US dollar started to be affected by inflation, meaning that it could purchase less and less goods. This wouldn’t have been very bad if other currencies hadn’t become stronger and more stable than the US dollar. In the end, the US dollar had to accept its fate that it had stopped being the as strong as it thought, so its value was decreased from 35 dollars for one ounce of gold, to 70 dollars for one ounce of gold.

In the 70s the US dollar gave up on its gold standard. The US dollar value started to be determined by its market strength. Although the US dollar stopped being the standard for world currencies, it never stopped being the most important currency on financial markets, as many exchange rates are still expressed in US dollars. The Euro has also become a strong currency, even stronger than the US dollar. These two currencies together represent about 50 percent of the exchange rates.

In conclusion, the exchange rates have evolved from being expressed in gold, to being expressed in US dollars, and finally, they worth as much as they weight on the market.

bad-credit-not-a-hindrance-in-taking-personal-loans

Bad Credit Not A Hindrance In Taking Personal Loans

Writen by Nand Kishore Sahu

Overburdening debts and poor financial management has resulted in creating bad credit history for scores of people in the past. Credit history includes County Court Judgments, default payments and financial transactions. You are in need of a personal loan to meet some of your pressing needs of life and the banks are turning you down because of your credit history, bad credit personal loans may be the answer for your financial problem.

There are various lending institutions, which do consider a bad credit personal loan application although with a high interest rate. There are two types of bad credit personal loans available in the market:

1. Secured bad credit personal loan

2. Unsecured bad credit personal loan

A secured bad credit personal loan is easy to get provided one offers some collateral whereas an unsecured bad credit personal loan does not need collateral. Since an unsecured bad credit personal loan doesn’t require collateral they are charged high in interest and it needs a lot of convincing to be done with.

A bad credit personal loan can be used to settle your past arrears, settle credit card bills, for home improvement plans and many other things as one wishes to. It also provides you an opportunity to correct your credit history for the future ahead.

One shouldn’t blindly assume that a bad credit personal loan is expensive in the market. With the growing population of bad credit history holders and booming of financial market, there is a fierce competition among bad credit personal loan lenders to come up with attractive interest rates and cheap personal loans.

So, it’s always prudent to do some research online, look and compare various options available in the market and then go for a right bad credit personal loan depending upon one’s needs and capability to repay.

how-to-reduce-banking-fees

How To Reduce Banking Fees

Writen by Jeffrey Strain

Nobody likes to pay banking fees, but if you aren’t active in trying to reduce them, you are probably paying more in fees than you need to be. One of the most important actions to take in order to reduce the banking fees is to figure out exactly how you use your bank. Consider what your average balance will be and how low the balance may dip. Also consider the type of transactions you make and what types of services you need. Once you have a better understanding of how you utilize the bank, you are in the position to get the most out of it while avoiding fees for services you don’t need or use.

Probably the best move you can make is to try and qualify as a member of a credit union. Credit unions are not for profit organizations meaning they don’t have to worry about making a profit. The qualifying factors to join a credit union vary from institution to institution, so you will need to check with each. The good news is that there are a large number of credit unions associated with a wide variety of organizations. Qualifying for inclusion has been broadened a great deal over the years, so it is much easier to find a way to qualify.

Since credit unions are there for their members and not out to make a profit, they are much more likely to offer completely free checking or free checking with a small minimum balance. In most cases, they also charge lower banking fees and their interest rates on accounts are higher. The one big drawback is that they tend to have fewer branches and automatic teller machines (ATMs) than major bank networks which can be costly if you are an ATM addict. You can begin your search to locate a credit union near you at the National Credit Union Administration: http://www.ncua.gov/siteoutline.html

If a credit union isn’t a possibility, then you need to take a look at the different types of banks. While the major banks will have a better distribution of ATMs and a greater variety of services, their fees can be as much as 50% higher than those of local banks. It is also worthwhile investigating Internet banks since their fees still tend to be lower than those of major banks.

Once an appropriate bank has been chosen, reducing the standard fees they charge is an important. Although there are a wide variety of checking accounts offered, most banks will offer at least two typical checking account alternatives. A basic checking account will have a lower minimum balance requirement, but it will usually have restrictions on the number of no cost transactions you are able to make each month. A premium account will usually offer interest and allow for more no cost transactions, but will require a larger minimum balance to avoid monthly fees. Not meeting the requirements of either of these can be quite costly, so it pays to chose the checking account style that best fits your use.

Although an interest earning checking account seems like the obvious choice to make, there are a variety of situations where you’re better off choosing a no interest checking account. If your account balance fluctuates quite a bit so that you are likely to go under the minimum balance required for the account even a few times during the year, you are likely to pay more in fees than you will ever earn in interest. In addition, checking account interest rates are some of the lowest, so choosing a checking account with no interest and a low minimum balance can make sense if you can put the difference into a higher yielding account.

Many people have several bank accounts at different institutions. It sometimes make sense to consolidate them at one bank. Consolidating your banking to one bank can give you more leverage in negotiating fee reductions and allow you to be more proactive in getting the best deals available. If you keep several different accounts at a bank, some banks will take into consideration the total balance of all your accounts at the bank. Although you may not have the minimum requirement in your checking account to earn interest, if you are also keeping a large deposit in a CD account that more than covers the checking minimum, the bank may be willing to count the balance of the combination of accounts as meeting the minimum requirement.

Another option that can give you leverage when negotiating on checking account fees is to have your paycheck direct deposited. Although every bank has its own set of rules, most will waive the checking account monthly fees if you direct deposit your paycheck. Don’t, however, assume they will automatically give it to you. Chances are you will have to politely ask before they offer you this service.

A further possibility in getting free checking is to invest in the bank. Although this doesn’t work with the larger banks, some small to medium sized banks have programs that award free checking and other special offers to investors. All you need to do is purchase a single share of stock to qualify.

Copyright (c) 2004, by Jeffrey Strain

This article may be freely distributed so long as the copyright, author’s information and an active link (where possible) are included.

A complimentary copy of any newsletter or a link to the site where the article is posted would be greatly appreciated.

identity-fraud-precautions

Identity Fraud Precautions

Writen by Finn Jensen

Consequences of Identity Fraud
In most parts of the world, identity fraud is the fastest growing offence. Yet, in the USA, a longitudinal 2005 study by Javelin Strategy & Research showed that the crime had decreased since a 2003 study from the Federal Trade Commission was released in 2003. The most current US Javelin data also showed that 9.3 million persons, being 4.25% of all adults, are victims of identity fraud on a yearly basis. In the United Kingdom in 2005 the consumer group Which issued a report stating that one in four people had been the victim of identity fraud, or knew someone who had been a victim.

Precautions against Identity Fraud
Rigorous research has shown that the following methods will be most effective at preventing identity theft or fraud:

Freeze your credit, if available in your state. With a credit freeze, no one can open any form of credit in your name.

Request your own credit report each year and check the reports for inaccuracies and new lines of credit issued that you did not request.

Minimize the use of mail for sending or receiving financial documents, checks, and have your name removed from junk mail lists (8% of identity fraud results from stolen mail).

Check your bank accounts each week online or at an ATM. 70% of identity fraud is detected by the victim, and victims who do so through electronic methods suffer losses of less than 1/8th that of those who rely on paper statements for monitoring account activity.

Use reliable ATM’s at reputable sites only. Watch your surroundings for anything suspicious. If the interior of a bank is closed but an indoor ATM is still accessible with a card, refuse helping any stranger to enter.

Watch your surrounding when entering sensitive codes of information at an ATM or on a telephone keypad.

Do not use wireless phones or cellular phones to talk about sensitive information.

Shred credit-card receipts, used (processed) cheques/checks, junk mail and other such documents, as they may contain private information.

Never give out personal information in response to telemarketers and delete all e-mails that claim to be from your bank (or other financial provider) and ask you to “log in” using a hyperlink embedded in the e-mail message. This type of scam is also named phishing.

When shopping online, make sure the company is reputable and displays an approved security symbol.

Watch your surroundings when using a credit card at any checkout counters or any similar places as some identity thieves use cell phones with cameras to steal others’ credit card numbers and expiration dates.

Limit the amount of personal information you publish on the web.

Do not allow anyone to copy your identification documents.

If someone calls you claiming to be from a financial institution you do business with asking for personal information - do not give it to them.

As a general rule, do not do business with people that come to you. If you want something, you find the business or company.

Don’t order checks preprinted with your driver’s license or social security number.

Don’t carry your social security card unless absolutely needed.

loans-mortgages-credit-cards-interest-rate-rises-around-the-corner

Loans, Mortgages, Credit cards: Interest Rate Rises Around the Corner

Writen by Michael Challiner

Financial traders in the City are expecting interest rates to rise by half a percent by the end of this year. These days the Bank of England prefers to make a series of small changes to interest rates rather than one large change, so watch out for the first 0.25% rise around August time

Mortgage rates are already reacting with the rates for fixed rate mortgages rising. The best rates for two year fixes are now in the 4.15% to 4.48% range and for three year fixes, 4.49% to 4.64%. The rates on credit cards and loans are usually variable, so these aren’t likely to rise until the Bank of England moves - but you can bet your bottom dollar that when the time comes, they’ll move quickly.

Only a month ago economists were talking about further falls in interest rates, so why has everything changes?

It’s all because inflation is coming back under pressure. The governments’ target for inflation is 2% per annum but with energy prices high, and likely to soar even further, we are beginning to see the knock on effect of energy inflation across the economy. And despite fuel bills siphoning money from drivers, new car registrations are up 7% on the year to March, industrial orders rose more than 13% and business confidence improved again in April. Even America, the world’s largest consumer of oil, the economy is experiencing surprising levels of activity.

In many ways this is good news for Britain’s economy. The annual rate of exports is growing at the rate of almost 20%, a rate virtually matched by imports. And the major quarterly survey of the economy suggests that growth will remain strong.

For the man and woman in the street, economic figures are all well and good, but it’s the housing market that is perhaps their key barometer. Here the current news is good for existing homeowners, but perhaps less good for those trying to get a foot on the housing ladder.

Currently, the housing market is buoyant. In the first three months of this year the Halifax reported house prices up by 1.6% and the Nationwide reported prices up 2.3%. But these are averages. Increases vary widely depending on where you live. The average asking prices reported by Rightmove, the web site for estate agents, were up 2.7% January to February 2006, 0.9% from February to March and 1.1% March to April to set record high of

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