July 28, 2012

Tips for managing finance during natural disasters.

When Hurricane Katrina wreaked havoc along the Atlantic Coast, particularly in New Orleans, the whole world saw what followed. Shocking images of homeless people, widespread looting, hunger and total chaos made a lot us rethink our preparedness to face such a situation. Many of the survivors of natural disasters have often wondered if surviving the disaster was really such a good thing or not. The situation is especially difficult for those who already have a mountain of debt or are living from paycheck to paycheck.

One never really thinks about financial preparedness to face these situations. Most of us know how to hide or reach help, store food and other basic survival stuff.

But have we given serious thought to the morning after? If you haven’t then here’s how you can prepare for such an emergency.

  • Have a fireproof and durable box to store important documents, and be sure to take the box with you when you evacuate. You need to have a copy of your drivers’ license, residence proof, Social Security Card, marriage, birth and death certificates, your insurance policies and bank papers, wills, deeds, tax records, photographs, important phone numbers(like insurance companies) and a document listing all your major valuables which will help in insurance claim.
  • In your budget, make a provision for ‘Emergency Fund’. Perhaps you can open a separate bank account for this purpose. Be sure to regularly contribute to this fund, so that in the case of a natural disaster, you have sufficient money for your immediate needs.
  • Make sure you are sufficiently covered for floods, tornado, hurricane, volcano, and the insurance is up to date.

In the aftermath, when you’re on the road to recovery:

  • Be careful to whom you divulge your social security number; ensure the person is genuine.
  • Consult a consumer credit counseling service to get help with regular monitoring of your credit, and protect yourself against identity theft.
  • If you have had to move, be sure to provide all your creditors, insurance companies and the like, your new address. Include 'Disaster Victim' on your credit file; credit companies make concessions for people like you.
  • Be in touch with your bank to ensure an active account, adequate checks, and update your information.
  • If the situation has still not improved, but the credit concessions have ended, you can contact your creditors, with the credit counseling services as mediators, to renegotiate a debt management solution.
  • Find out about Employee Assistance Programs from your employer and utilize all resources you can.
  • Find out if there are special job considerations for disaster victims, from your state’s employment commission.
  • You can also register for victim benefits with the Social Security Administration.

This is a guest post by Tina Reeves of buyVerizon.com, a site that offers savings and current information on Verizon FiOS.
Continue reading..

July 9, 2012

Some useful Tips to help you find genuine and best payday loan lenders

Payday loans are a better option than the bank loans and other options to recover from your not so good financial situation. While you want to enjoy the benefits, there are few things to ensure that you are not fooled by the scam companies in the market.
Reviews by fellow consumers
While you are on internet, just check the reviews given by the fellow borrowers and other experts.  There are many forums and websites, which hold the information and reviews regarding the payday loan lending companies. You can check it out to know few of the best lending companies.
Is the site secure?
The fast cash payday lenders are now providing service for the customers through their official website; you can submit your application for loan through it. But, this is the only medium through which you supply your personal details, you must check if the site is secure or not.
They will provide their terms and conditions and privacy policy in the website. Take time and read them carefully. Check the URL of the website. The site would have an https instead of just http if it is a secure site.
Does the company have a valid License?
To check the legitimacy of the lending company, it is a must to ensure that the company has a valid Consumer Credit License. This is so easy to check. Just check the bottom part of the lender’s website. Most companies would have specified the details about their certification. It is a Law to disclose the License information to the borrowers. If the company does not have a valid license, then it is probably a scam company.
Direct communication with the Lenders
If you have any doubt regarding the loan and if it is specific to a particular lender, then you can contact them through e-mail or call them for inquiry. You can even chat with them live. They would be ready to answer all of your queries.
For a smooth application, processing and approval of the payday loans, you need to find the best lender in the market. By following the above tips, you will definitely be able to find the most genuine one.
Continue reading..