Getting a Loan Without a Cosigner

Getting a Loan Without a Cosigner
If you are unable to get a loan on your own then a cosigner could be a way to get the loan, but if this not possible then you will need to know how to get a loan without a cosigner.
In order to get a loan you will need to know what the lender…


Balance Transfer Vs. Debt Consolidation

Balance Transfer Vs. Debt Consolidation

It is never easy to pay off debt, but the load can be lightened with lower interest rates and smaller repayments.


Two popular ways to lower your rate on debt is through balance transfers and debt consolidation loans.

Both of these options have advantages and disadvantages, so, which one is best?

Credit Card Balance Transfers

It is easy to transfer a balance with a credit card and you could pay 0% interest on your debt for a limited amount of time. This means that instead of paying for your interest and your repayment, all of your repayment will go towards reducing your loan balance.

These work well when you know you are able to pay off your debt quickly.


Generally with a balance transfer you will have to a fee. This means that any savings you are making with a lower interest rate will need to be enough to cover the transfer fee as well. Also with a new credit card you may have to pay new annual fees.

Interest Rate

The best interest rates are on offer to those that have good credit. You will then need to know the offer that you will get in regards to your credit. For instance you might be offered 0% APR for a certain amount of time, but you will need to know what happed after the promotional period has ended.

Your Credit

Balance transfers aren’t typically bad for your credit, but they could cause issues. When you apply for a new card, lenders will look at your credit and inquires can affect your credit score.

Your score can also be lowered by having too many accounts.

A balance transfer should be used a debt payoff tool and not seen as a way to increase your debt as this will just lead to more problems.

Debt Consolidation

You are able to consolidate your debt with a personal loan, a secured loan or with a P2P loan.

If your loan is large then you could allow you to combine several loans into one. A debt consolidation loan has a fixed rate so there are no promotional periods like a balance transfer.


With debt consolidation loans you may or may not pay any fees. There are some loans that do have fees and others where the fees are built into the interest rate. You should then compare different loans and see what the fees and interests are and which will benefit you the most.

Interest Rates

The interest rate you pay will depend on the type of loan you use.

A personal loan that is unsecured may have a higher interest rate than a home equity loan for instance.

However, you will usually pay an interest rate that is lower than your normal credit card rate. If you think it will take a while to pay off your debt then it would be best to use a debt consolidation loan.

Your Credit

A new loan will immediately affect your credit score especially in the short term. In the long term debt consolidation loans have the potential to be better for your credit than a balance transfer.

Credit scores are higher when there is a mixture of credit types and installment loans make you more attractive to a borrower.

A debt consolidation loan could show that you are committed to paying your debt.

If you are interested in a debt consolidation loan, head to FinanceMan.

When To Shop for Insurance

When To Shop for Insurance
One of the best ways to make sure that you are getting the best rate for your insurance depending on your circumstances is to shop around. When you shop around you can compare your current rate with other rates from insurance providers.
There is many times where you…

Dealing with Small Business Debt

Dealing with Small Business Debt
There are times where businesses have to deal with too much debt, but in some cases this is first necessary in order to succeed and only when the debt is managed.
However, when business debt gets unmanageable there are things you can do in order to save the…

debt consolidation

Will Debt Consolidation Fix Your Debt Problem?

Will Debt Consolidation Fix Your Debt Problem?

It can be hard to deal with debt, especially when it is overwhelmingly large. Most people will want to ease the debt burden, but they do not want to go through bankruptcy.debt

This is where debt consolidation comes in and in most cases it could be a solution, but is it the right one for you?

What is Debt Consolidation?

With debt consolidation, all of your separate debts are combined into one single debt. You are able to take a debt consolidation loan, which has the specific purpose of paying off debts, but you don’t always have to get this special loan.

If you have a credit card that has a high enough limit then you are able to use a balance transfer to put all of your debts on to a single credit card. You can also take a second mortgage, use a personal loan or a home equity loan.

Debt Consolidation Advantages

Lower Monthly Payments

With debt consolidation you will be spreading your debts over a longer period of time, which means you will benefit from a lower monthly payment that might be friendlier on your budget.

Lower Interest Rate

You should try and get a lower rate loan or credit card with debt consolidation. With a lower interest you will have a lower debt cost overall.

Debt is Easier to Manage

After you have taken debt consolidation, you will have only one debt payment to manage instead of multiple debts. Having only one debt payment to manage you will find it easier and a lot less stress.

Debt Consolidation Disadvantages

Your Home is at Risk

If you choose to secure your debt with a home equity loan or mortgage then you do risk your home being foreclosed if you fail on payments.

Higher Cost of the Debt

Even though you will have lower payments when your debt is extended over a longer period, you will be paying more for your debt.

Having a Co-signer

You may struggle to get a loan to consolidate your debt if your credit score has already suffered due to your debt, so you may need the help of a co-signer.

Debt consolidation is an option if you are able to do it at a low cost without risking your property or other assets.

Even though debt consolidation can help you to pay off your debt, it does not solve the problem. You need to look at why you got in debt and change your habits so you can avoid further and future debt.

If you are looking for debt consolidation, head to FinanceMan.

Seasonal Accounting Jobs for Tax Season

Seasonal Accounting Jobs for Tax Season
When tax season arrives, accountants will find plenty of seasonal accounting jobs that they can do to pick up some extra money. Here is a look at some o these seasonal tax accounting jobs.
Risk Assurance Associate
There are few companies…