Don’t panic if you need money in a hurry

moneyIf you need some money in a hurry then it can be very easy to get in to a panic about it. You may think that you will need to just apply to the first lender that you find and hope they get the money to you in time. This may not be the most sensible thing to do though.

There are many companies that offer short term loans fast. This means that you should be able to compare them and find out which one is going to be the best one for you. Most of these companies will be able to get the money to your within a few hours. This means that you should be able to find the time to take a look at them before applying.

It is so important to make sure that you are borrowing form the right lender. You need to consider how much you want to borrow, how much that will cost, when it has to be repaid and what happens if you cannot make the repayment(s). You need to try to keep calm and think about these things. Work out how much you will need to borrow and then you can look at which lenders will potentially let you have that amount. Then compare the lenders to see how much they charge for a loan of this amount and what fees there are for making late repayments. Also find out when the payments have to be made. You may not feel that it is important to check the late payment fees as you may feel that this will not apply to you. However, most people think they will be able to make the repayment but unfortunately things do crop up and sometimes they cannot. You will obviously hope this will not be you, but it is worth just knowing what might happen if it is. Also look at the website of the lender and decide whether they are a company that you would be happy dealing with. You may want to find out a bit more about them first. Continue reading

A Short Term Loan Is a Great Bridge Into a Stable Financial Life

A Short Term Loan Is a Great Bridge Into a Stable Financial LifeAccidents in life happen — that’s the very definition of an accident. It sneaks up on you when you’re not looking. It challenges you to make big, sweeping decisions — often without a lot of time to think about those decisions. If you’re stuck in a bad situation, but you know that you can work your way out of it, it’s definitely time to look into new resources to move the process along. For example, if you need fast money in a hurry, a short term loan is definitely the best resource to reach for.

Simply put, you can view a short term loan as a great bridge to a stable financial life. It takes care of the most pressing problem that you have, leaving you free to look at how to get your life back in order. Your finances are a huge part of your life, as you can’t get to bigger goals until you’ve taken care of outstanding financial issues.

But that’s why a short term loan is incredible: it’s there when you need it. You get to apply online and get an immediate answer one way or the other. But if you have a regular income, there’s no reason why you wouldn’t be able to get a short term loan. It doesn’t have to be for an incredible amount of money. if you just need a little bit of money to get from one part of your life to the next part of your life, then you can request the exact amount of money that you need.

Now, at this point, you might be concerned that you’ll have to explain in great detail what you need the money for, and how you intend to use the money once it’s transferred over to you. That’s not the case here. Once you get approved for the quick cash loan, you’re free to use the money for anything that you need it for. Continue reading

Over Half a Million British People Rely on Food Banks

Over half a million people in the UK are now reliant on food banks to survive according to a new report by Church Action on Poverty and Oxfam.

Many of the people are reliant on them because of their inability to cope with rising food prices and spiralling energy bills among other things. The most alarming statistic is that nearly half of those people needing the help from food banks do so as a direct result of their benefits being cut or even stopped.

Oxfam warned that the upcoming universal credit could make matters much worse, and that this could lead to a rise in demand for food aid, which the food banks may not be able to cope with.

The report says that the number of people being referred to food banks for help should be properly recorded, to give a much clearer picture of the scale of people needing help. Continue reading

Cooperative Bank Hires ex HSBC Boss

The Cooperative Bank is hoping to make steps towards digging itself out of a deep hole by recruiting Niall Booker as its new chief executive.

Niall Booker was chief executive of HSBC‘s North American arm of the business but was axed in 2011 as part of the banks restructuring measures. He is expected to join the Cooperative Bank in June. His appointment has been made with input from the PRA (Prudential Regulation Authority).

The PRA became responsible for the regulation and supervision of British banks, building societies and other financial sectors in April of this year.

The new head at the helm will be a welcome change as the bank looks to recover from the downgrading of its credit rating on a massive scale by Moody’s last month. The banks previous chief executive was dismissed after being attributed with the responsibility of the collapse of the deal with Lloyds TSB to buy 632 branches as part of its expansion. Continue reading

UK Households told to expect more energy bill rises

Households in the UK should expect more energy price rises in the future according to SSE, who are one of the main Energy providers in the UK. The irony is that SSE has revealed that its profits have rocketed at family’s expense.

The energy company’s retail sector profits climbed 28 per cent to £410million partly due to its 9 per cent price hike in October 2012. What baffles customers is how the energy companies can plead poverty and raise their bills sharply and then announce such huge profits.

The company made £1.4billion over all in pre-tax profits last year, and still feels the need to announce that it is likely that more price rises are “highly likely”, blaming the need for them on wholesale prices and other costs.

The massive price hikes combined with the extreme winter the UK faced, a lot more households have been feeling the pinch, with many borrowing money from friends, family or even short term lenders. Some who couldn’t source extra money just shut off their heating and wrapped up. Continue reading

Poundland Cuts Prices in Sub-pound Price War

We have all heard the saying “Take care of the pennies and the pounds will take care of themselves”. Poundland are counting on this by dropping prices from their usual 99 pence to 97 pence in 4 stores where rival 99 pence shops have opened.

The discount superstore brand has said that it has adopted the new pricing plan for tactical reasons. It hasn’t said how long it plans to continue the new prices for. If it is successful it could be possible for it to become the new standard price point across the store’s 400 UK stores.

Jim McCarthy, chief executive at Poundland, said: ‘Poundland always aims to offer great quality products for amazing value to all its customers. ‘Like all retailers we test competitor response options all the time and this is just one of a number of tactical options. This price point is currently being applied in just 4 stores.’ Continue reading

Co-operative Bank Credit Rating Downgraded by Moody’s

The Co-operative Bank has had its credit rating downgraded by credit ratings agency Moody’s. Moody’s warned that the bank could need external support after it reported that is made losses of £600million during March. The bank is also reeling from a failed deal with Lloyds TSB who was going to sell 632 branches to them.

While the bank was reeling from the first downgrade, a second downgrade was announced that affects various Co-op bonds, and warned that more could follow.

The bank’s credit rating wasn’t just slightly lowered; it was hammered down by six notches on the rating scale. This will affect the rate at which the bank can secure capital with. The bank has tried to reassure its 6.5 million customers that there is nothing to worry about, and that it definitely doesn’t need external help. It did admit that it needs to raise more capital, but said it was doing so by various means including trying to sell off various assets. Continue reading

Government Considers Lowering UK Minimum Wage

The UK government is considering freezing, or even lowering the minimum wage due to fears that it could be damaging the economy and outing businesses off of creating new jobs.

The current minimum wage is £6.19 an hour for anyone over the age of 21, £4.98 for those aged 18-20 and £3.68 for 16 and 17-year-olds.

The UK minimum wage normally rises in the autumn to help low paid workers but this year could be different, despite recommendations by the Low Pay Commission. Continue reading

RAF flies emergency loan fund to Cyprus

Amid fears that British troops might not have access to money deposited to their bank accounts that are based in Cyprus. The RAF is flying 1million euros in cash to the island so that military personnel will be able to have access to an emergency loan.

The move by the Ministry of Defence is to make sure that the 3,000 British service personnel won’t be left short of money if cash is not available when the Cyprus banks re-open on Thursday.

The Cyprus financial situation is looking very unsettled after a proposal was announced to levy a charge on savings accounts to help fund an international bailout. Worries are rife that when the banks re-open everyone will rush to withdraw all of their funds in a panic to avoid the charges. Continue reading

RBS and NatWest allow mobile users to exchange money without account details

People are already familiar with the concept of transferring cash without needing to get hold of the sort code or account number of people thanks to Barclays’ PingIt service for smartphones.

The PingIt app allows people to transfer money from one mobile number to another, and now RBS are looking to get on board with their own smartphone app.

The head of mobile at RBS and NatWest, Ben Green, has praised the app for the new freedom it brings customers: “Our customers can make quick and easy payments without needing to get hold of the sort code and account number of the recipient. This safe and convenient tool will encourage yet more people to make the most of mobile banking – helping our customers to bank anywhere, whenever they want.” Continue reading