Top 5 Advantages Of Unsecured Debt Consolidation

Debt consolidation is the process where multiple loans are replaced with only one loan that has a lower monthly payment scheme but a longer repayment period. There are basically two types of debt consolidation; secured and unsecured. In secured debt consolidation, some asset is placed as collateral for the debt consolidation loan. If the borrower fails to repay the loan, then he or she stands to lose the collateral.

In unsecured debt consolidation, no asset is used as collateral. So there is no fear of the lender having any direct charge on the borrowers home in the event of non-payment of the consolidation loan. Here, if repayments are not made, the borrower has the privilege of re-negotiating the repayment with the lender. There is no fear of the collateral being lost through non-repayment of the unsecured debt consolidation loan. However, the interest rates of these consolidation loans are usually on the higher side.

One of the advantages of an unsecured debt consolidation loan is that since there is no property valuation involved in sanctioning the loan, these loans are approved faster. This saving in time also saves in any debts that may keep on adding through its interest. However, to get an unsecured debt consolidation loan, it is important that the borrower be clean on the credit front as the credit history helps the lender determine the credibility of the borrower. This is because the loan providers may fear sanctioning loans to borrowers with a bad credit history, and with no collateral pledged.

However, this does not mean that a person with bad credit will be rejected an unsecured debt consolidation loan. Nowadays, there are many loan providers who are willing to take a risk with lending money to people with bad credit. This is because they now believe that bad credit is not an absolute indicator of credibility.

One of the disadvantages of an unsecured debt consolidation loan is that the borrower cannot draw as large an amount as the secured debt consolidation loans. This is so as to cover the risk of giving a loan without any collateral. However, if the lender has enough faith in the borrower, then there is a chance of him loaning him a greater amount in the unsecured debt consolidation loan.

The specialty of an unsecured debt consolidation loan or any debt consolidation loan is that the loan provider actually designates experts who work along with them to eliminate debts. Here the borrowers only have the task of performing the debt settlement process. They have to provide information of the various debts they want settled; this has to include all big and small debts. The reason all the small debts have to be included is that the borrowed amount does not increase much with its inclusion, and these small debts add up to a big amount with its interest.

Once the information of the debts is provided to the loan provider, then their trained representatives will handle the several creditors of the borrower. This is a relief to the borrower, after all that haggling with the creditors. Good representatives can in fact bring down the repayable amount and thus save on the unsecured debt consolidation loan.

Writing Resumes without Mistakes

Resume and curriculum vitae act as entry tickets to a job. Todays world is full of competition. A prospective employer is in search for a person who is active, productive, and skillful in nature and with a positive attitude. The resume should reflect the attitude and details of education, age, qualification, experience etc. The resume should be written with relevance to the particular job. Gone are the days where one resume was used for all the jobs. The resume should be attractive enough to catch the attention of the employer among the thousands of resumes. It is important that the resume should be free from any common mistakes.

Effective resume writing:

An effective resume should contain basic sections viz., complete and powerful contact information, headline of what is being offered by the employee to the employer, summary of skills highlighting relevant skills will be an added advantage, professional experience which has to be relevant and last but not the least educational qualification- details of grades, year of passing etc. An effective resume will be free from grammatical and spelling mistakes. This shows the command over the language. Hence, it is very important to proof-read more than twice to avoid any mistakes in the resume.

Common mistakes in a resume:

The resume with irrelevant contents is a common mistake, like the information regarding the children, spouse, hobbies etc and also when applying for a computer job, it is irrelevant to show an experience of a position held as an accountant.

When using creative fonts, one has to be very careful. It might be easier to read on the computer of the person writing the resume, but not necessarily it can be readable in the employers computer. If the font is not found in the computer it will show bizarre information.

The resume should not be like a job application, the previous employers name, contact information of the previous employer; reasons for leaving the job are irrelevant in the resume.

Never get obsessed about the length of the resume but focus on the content. Also personal pronouns like I, me should be avoided, as it might pose you as an egoistic person.

When sending resumes to multiple recruiters never send it via one email, as personalized addressing is very important.

Fuel Economy: What You Should Know if You’re in

Fuel Economy: What You Should Know if You’re in the Market for a New Vehicle

If you’ve been kicking around the idea of buying or leasing a new SUV and upgrading to a more fuel-efficient model, it’s important to know that you may not be comparing apples and apples. This year marked a change in how the Environmental Protection Agency (EPA) determines how the fuel economy of brand new 2008 cars, pick uppickup trucks, and SUVs is calculated.

Prior to 2008, the EPA, along with automobile manufacturers, used a method of testing a vehicle’s ratings that let’s just say, didn’t adequately recreate real-world conditions. The vehicle was placed on a set of rollers called a ‘dynamometer’ that allowed the car to sit in place while turning the wheels of the vehicle. Although the drag on the rollers was adjusted to better simulate various driving conditions, the vehicles were never tested in environments where wind resistance could influence the amount of fuel being burned, and the accessories were never running. Hence, the test created a level playing field for all vehicles of the same class to be compared, but the results never depicted the fuel economy you could expect in the real world. In addition, the simulated speeds prior to 2008 were considerably slower than what the average driver actually drives only 48 miles per hour for highway tests and 20 miles per hour for tests in the city.

Starting this year, the EPA has begun to use an adjusted system of testing requirements to account for all the things that affect fuel economy: faster acceleration, higher speeds in both the city and on the highway, colder external temperatures, and vehicles are now tested with accessories (like the air conditioning) on.
The result? While the new method of testing gives potential buyers a better idea of what they can expect when the vehicle is driven off the lot, overall mileage projections have been reduced. While most people would probably prefer a more accurate method of testing, and therefore more accurate results, the problems arise when we throw another ingredient into the mix. Many automobile manufacturers have upgraded their 2008 lines to be more fuel-efficient as a response to increased gas prices over the past two years. Unfortunately, on paper, these vehicles now appear to be less fuel fuel-efficient than their predecessors. Without an understanding of the new testing system, comparing one’s older model to a new 2008 could suggest you’re better off keeping the car or pick uppickup truck you have. Chances are, you’re not. Even the “non-green” models (models that still operate solely on unleaded gasoline without the assistance of an electrical power source) are becoming increasingly economical.

For example, the popular 2008 Isuzu Ascender advertises a fuel economy of 14 miles per hour gallon in the city and 20 on the highway. At first glance, that might seem lower than the ratings you’re used to seeing. In reality, it’s right in line with other 2008 midsize SUVs in the Ascender’s class; the Ford Explorer, Mercury Mountaineer, GMC Envoy, and Chevy Trailblazer all share the same rating. The 2008 Jeep Grand Cherokee and Hummer H3 both rate slightly lower than the Ascender under the new, more accurate tests. Although the numbers will say that this year’s Ascender get fewer miles per gallon than last year’s, that’s not true. The 2008 4.2-liter, six-cylinder engine has actually been recalibrated for efficiency and according to Consumer Guide, accelerated to 60 mph in 8.8 seconds.
The moral of the story? Comparing ’08 models to previous years won’t tell you much in terms of fuel economy, so stick to comparisons between the newest models to gauge if the SUV or car you’ve got your eye on stands up to others in its class.

Students Need To Be Aware Of Debt Management

If you havent heard, student loan interest is now a tax deductible item on your personal tax return. On August 1, 2005 the cap on the old maximum student loan rate was lifted, and the new one was pushed into effect. So exactly what is going to be the affect on your existing student loan going to be you may be wondering. How will this now change the end result of the parent or students tax return?

A lot of the associations that offer student loans told students that their best bet was to consolidate the existing loans and lock in the new lower interest rate, while it was still available, so that the new rate would affect their upcoming tax returns.

The interest rate of a federal subsidized loan does not have the same huge affect as it does with a private or unsubsidized loan. When obtaining a deferred payment loan, which will also defer the interest payments on the loan, can drum up huge amounts of additional debt for the borrower since the interest actually accrues interest leading to a huge amount of debt very quickly. So this should tell you the huge effect the new law will have on those with student loans.

The government, over a span of the last couple of years or so, has tried to promote the advancement of continued education, therefore allowing a deduction to be made on the interest payment of student loans.

This deferred payment arrangement will allow the student to borrow the money, attend to their studies without the worries of payments over their head, and then after completing their education and obtaining their degree beginning their monthly payments. These types of deferred payment plans come in to types from the government; unsubsidized and subsidized.

For students with need of financial assistance, the subsidized is prevalent. On this type, the government will pay the interest that is accrued until the time that the student is finished with school. The unsubsidized is the exact opposite, and the student will be responsible for the interest payments as it is accrued.

Lenders have become wise to the benefits for them when it comes to deferred payments plans, in which the interest builds on top of the interest each and every month, as it builds onto their balance every single month. This generates huge income for the lender.

The private loan sector has made a frequent business with the deferred payment loan, due to the fact that they are free of federal lending requirements that are normally attached to this loan type.

Its usually fairly easy for these lenders to grant these loans because students dont usually realize the effects that these loans are going to have on their balance in the beginning, and blindly except and sign a contract on these terms. Usually at this point in a students life, debt management isnt a prevalent concern and the lenders are aware of this. Advice to these students should be to find a good credit counselor to assist them in looking over their choices before hastily signing on for any loan.