more cashIn these times of financial disarray, more and more people need short term cash advances when an unexpected expense arises. If this is your case do not rush to the first offer. There are many payday loan operators willing to lend you some money, so you owe it to yourself to find the best offers in the market.

Do Your Research

When you need the perfect cash advance, it is also a good idea to research what the company has to offer. For instance, the smart cash advance is the one that gives you the money that you need. The smarter cash advance is the one that gives you what you need and also what you can afford.

You need to make sure that the company can provide you with enough universal cash advance options so that you can find a loan for the amount of money that you are looking for. Do not just assume that you will be able to get exactly what you want. Research it first so that you can be sure and you will have a much better experience.

Use An Interest-Free Promotional Loan

You can usually get an easy payday loan that does not have interest if you have never gotten one before. It is good to use easy payday loans like this because you then can learn about what it is really like to get these without having to pay anything extra.

This can help you to understand just what you are going to get without all of the risk that is usually associated with financial decisions. You can get this easy cash advance and then you can find out for yourself if you are working with one of the best companies on the market or if you need to look for someone else.

Look For Lists Of The Very Best

The last thing that you should do when you need advance payday loans is to find a list of the top 10 payday loans that has been compiled by a financial authority. You can find one of these that has been written by a person who has studied finances and who knows all about real payday loans.

When you look at this list, you will find the ten best out of all payday loans that are available. This is the ideal place for you to start your search. You can then look at all of the specific plans and find the one that you think is the very best for you.

Posted in credit

cheaper loansA payday loan or cash advance is a short term loan that helps manage an emergency situation and is notoriously high priced. In many cases, the interest rate is well above 200 percent and might reach amounts as high as 500 percent or more depending on the lender. With the high fees associated with the loan, it might seem impossible to find a lender who offers a low cost option. Though payday loans with low fees are less common than high fee loans, some lenders do have lower cost loans available.

Low cost of cash advances

A low cost payday loan is any loan that has lower costs than the average fees of the loan. Since a payday loan might cost more than $30 per $100 borrowed on the loan, a low cost loan is a relative term that means lower than the normal cost in the area you are borrowing.

A low cost cash advance is usually around $10 per $100 borrowed, resulting in more reasonable prices when compared to other loan options. A low fee cash advance is rare when compared to high fee loans and in general will have specific requirements before the lender offers the loan.

Low fee payday loans will usually require a good credit score rating. Since the loan costs less than other payday loans, the lender will usually want to see your credit history and might deny anyone who has a poor credit score.

Another requirement of cash advance low fee alternatives is the proof of employment. Most lenders will require that you provide a recent pay stub showing that you are employed and how much you make. Some lenders might even check with the business for verification if it seems doubtful that you are employed in the suggested company.

Though payday loans low fees might make you feel more comfortable taking out a loan during emergency situations, it is not the least expensive option when you want a low cost emergency loan for short term use.

Loans With No Fees

No fee payday loans might seem like a myth when you look into payday lenders and the cost of the loan, but some options are available to allow you to obtain emergency cash without paying interest or fees on the loan.

The easiest method of obtaining a no fee loan is a credit card cash advance during promotional periods. A cash advance credit card might have special promotions of taking out a 0 APR cash advance for a specific time period. After the 0 cash advance promotional period expires, the interest is added to the card. This allows you to take out the cash advance and pay it back within the specified time period and receive money without paying fees.

Final Words

A cash advance low fees option might seem difficult to find, but it is actually a simple matter of searching for the right type of lender. Using credit card promotional period is usually the least expensive followed by low fee loans that do not charge high amounts when compared to averages in the area.

Posted in credit

Gifting tax

US taxThe US Internal Revenue Code Chapter 12-Subtitle B states that “gift tax” is the gratuitous transfer of property ownership.  Section 2501 of the Internal Revenue Code imposes this tax, the responsibility of which typically falls on the shoulders of the donor or the giver of that gift.

The exception to this ruling would be if there is some retention of interest involved which has delayed the giving of that gift.  Additionally, the donor or giver receives nothing in return for the gift.

For tax purposes, the federal courts define the word gift as the proceeds resulting from “detached and disinterested generosity” therefore, you should be aware that there is a difference between the Federal Gift Tax compared to the IRS treatment of gifts.

In other words, where the treatment of gifts for the purposes of US gift tax (oftentimes referred to as the “transfer tax”) is concerned, it should not be confused with how those gifts may be treated for other tax purposes.  Where tax laws are concerned, most gifts may be excluded under Section 102 of the Internal Revenue Code.


From an estate tax planning standpoint, many individuals incorporate gifting as a method for reducing tax liabilities based on their estates.  There are 2 exemption levels where gift tax is concerned.  As of 2009, you could give meaningful and substantial gifts of up to $13,000 in value on an annual basis without incurring any gift tax.  If your spouse is involved giving gifts of this same nature, that figure doubles to $26,000.  In addition to this, you are not restricted to the number of people who receive gifts from you and the lifetime limit for gifting is $1 million before being taxed.


The primary purpose of gifting is to reduce the amount of tax liability that your heirs will incur from your estate when you pass away.  Here are a few tips on how to avoid this:

  • Give your spouse assets or monetary gifts
  • Set your children up with trust funds (irrevocable)
  • While you are still living, plan on how you can give enough money to any future heirs to avoid taxation, as well as planning this out accordingly
  • Make arrangements for charitable donations to be given after you die
  • Hire an income tax attorney or professional to help you


The best time to hire an income tax attorney is for prevention purposes, to avoid getting in trouble with the IRS or facing a tax bill that turns out to be way higher than what you would expect, because you did something without getting all the necessary information.

People are usually reluctant to consult a tax lawyer, but it’s much better to take the advice of a professional and minimize the chances of you making a costly mistake. This is definitely one of the areas where a competent tax attorney  can help you save a lot of money.

Posted in tax



Debt settlement is also referred to as debt arbitration or negotiation and is an approach to the reducing of personal debt.  It is a method in which the creditor and the debtor agree to reduce the balance of a financial obligation so that when that reduced amount is paid off it is regarded as being paid in full.  Additionally, creditors will not negotiate a reduced balance if you have been maintaining your regular payment schedule.  If the payments are curtailed or stopped, that balance will increase based on interest and late fees.

The consumer has some options for arranging their own debt settlements including:

  • hiring an attorney to assist them
  • hiring a debt settlement company
  • using the advice that they find on an online debt settlement website

Since there is the distinct possibility that the debt settlement company may charge an individual a large up-front fee for their services, or take the monthly fees from the person’s bank account, many consumers may be reluctant to pursue debt settlement.  We suggest that you search for a debt settlement company that only charge you the fees for their service once the debt has been settled.  It is not uncommon for these fees to equal up to 20% of that amount that the outstanding account balance has been reduced by.


There are 5 primary objections to pursuing debt settlement.  These are:

  • damaging one’s credit history and score
  • an increase in the number of collection calls
  • needing to settle with every creditor, not just one
  • the possibility of numerous lawsuits
  • the tax consequences

The bottom line is that you can still be sued by your creditor(s) as well as it damaging your credit history and score.


Most importantly there are tax consequences that you should be aware of.  When a debtor’s obligations are canceled (in part or wholly) and this has not resulted from filing bankruptcy, the canceled portion of the debt is viewed as taxable income by the IRS.  This is actually the biggest objection that most consumers have to debt settlement.

According to Form 982 (IRS publication), anything over $600 in discharged or forgiven debt is considered taxable income.  However, the IRS does not require this income to be reported should you be deemed insolvent.  Insolvency is defined as when your debts exceed your assets.  Additionally, and we are quoting the IRS ruling “you cannot exclude any amount of canceled debt that is more than the amount by which you are insolvent” (IRS Publication 525).

Posted in tax

A cash advance payday loan is a reasonable way to manage a cash crisis when you need a short term loan and you have bad credit. As you probably already know, banks won’t lend money to people who have bad credit or no credit. As you also probably know, everyone at some time or another can suffer a cash flow emergency. When you need fast cash but traditional banks won’t give you credit, then you’ll be glad to know that a cash advance payday loan is available, no matter what your credit history.

Cash Advance Payday Loan Won’t Ruin Your Credit

And speaking of your credit history, a cash advance payday loan won’t ruin your credit. If you default on a personal loan from a bank, that will go on your credit score. If you default on a cash advance payday loan, nothing gets reported. Your credit record is not at all affected.

All Fees on a Cash Advance Payday Loan Are Disclosed

When you apply for a cash advance payday loan, you know exactly what your fees are going to be. It’s all spelled out in black and white and it’s easy to understand. If you aren’t sure of the terms of your cash advance payday loan, then you can call the customer service reps and ask them.

There are no secrets or hidden fees here when you apply for a cash advance payday loan. If you decide you can afford the fees, or if you decided that your cash emergency warrants the fee, then you can apply and get your cash in one business day, and sometimes even more quickly. The way it works is, you pay a fee, usually $10 to $20 per $100 borrowed, and that’s all you pay if you pay back the cash advance payday loan on time. No interest or additional fees.

Cash Advance Payday Loan Fees

The fees on a cash advance payday loan are not only upfront and easy to understand. They are also reasonable and fair. People with bad credit don’t have access to personal loans from banks. They are locked out of the traditional banking credit system and until the cash advance payday loan came into existence, had nowhere else to turn other than friends, family, or unregulated lending sources. And if your friends or family can’t or won’t lend you money, or if it’s your policy not to mix family and finance, where else do you turn when you absolutely must have cash immediately?

The cash advance payday loan industry serves a population that previously had no other alternative. Tens of thousands of cash advance payday loan borrowers every week can tell you that they are willing to pay the fees on these short term loans. After all, nobody else is willing to lend money to this population. Everyone can use access to emergency credit, and the cash advance payday loan serves much of the population that does not have access to short term credit any other way.

A bad credit payday loan is for you if you can answer yes to any of these questions. Do you need quick cash right now? Do you have an emergency that requires cash immediately? Do you find your budget can’t cover a sudden bill that absolutely must be paid? These things can stress you out and if you have bad credit than financial matters can be even more stressful. These days it can seem that having bad credit closes so many doors. It’s the key to so many things, like credit cards, good interest rates on credit cards, mortgages, and of course personal loans.

Posted in credit

A payday loan advance or two will not be enough to help the Greek economy!

Recently Germany was hoping to create the post of super Commissioner with the right to veto new spending by Greece.

They proposed that the second aid plan for Greece not to be paid unless two strict commitments are met. First to honor the debt service before expenses, which reduces significantly the risk of default.

Second, in view of the disappointing implementation so far, Greece would have to accept to give up part of its fiscal sovereignty for some time. These requests were striking especially in a country that has experienced Ottoman occupation for centuries. This could lead to a rise in hate between Europeans compromising any European project.

Of course there are problems in Greece as fraud raged long, especially in the more affluent sections of the population. But it was no secret to anyone, and it had not prevented international lenders to pour tens of billions over the country. It very easily overwhelms the borrower, but rarely the lender. Moreover, it is unnecessary to detail the amazing cuts and massive tax increases that have occurred since 2 years. However, this austerity produced no result because it has led this country into economic depression, with a 2011 deficit well above that of 2010.

The people, after having strongly protested and failed to get a referendum, apparently gave up in late 2011. Thus, the depression will deepen. In recent weeks, we rediscover a centuries old law: past a certain level of debt, the cards are in the hands of the State, and not in that of the creditors. Greece shows now the likely path out of the debt crisis: The general restructuring of national debts. After a year of statements on the theme of Greece will repay all, we went in July to private lenders will lose 21%, then in October 50% and next 70%. In all cases, private investors will lose 70% of their money, which is the sanction of their irresponsibility, but also the occurrence of a risk for which they were paid handsomely through high interest rates.

Discussions between Greece and its creditors on a debt swap recently resumed. Banks had suspended their discussions on debt restructuring with Athens, threatening the country from default. But behind the collapse in Greece it is the global financial system that is at risk. Recall the situation as of July 2011 when the Greek debt stood at 160% of GDP, or 360 billion euros, 110 billion owned by international bodies like the IMF, about 100 billion by public institutions, and 150 billion by private institutional investors. The European Summit had decided to involve the private sector on a voluntary basis in order to alleviate the Greek debt. It has been proposed that banks voluntarily accept a discount of 21% of the amount of their debt. Because the amounts owed by Greece are obviously non-refundable it must go through a restructuring.

At the continuing difficulties of Greece, the summit of October 2011 has increased the amount of voluntary loss to 50%. Be clear that this amount is the result of an agreement between the government and association of major banks and global financial institutions, which represents the banks. But it is only a kind of union, which did was really able to impose decisions to all its constituents. We thus arrived at a maximum discount of 50% of 150 billion euros, 75 billion, or about 20% of the Greek debt. In fact, all private investors were not affected by the voluntary downgrade. While 75% agreed, the total discount is only 55 billion or 15% of the total Greek debt. In summary, the agreement does almost nothing, and in the end, it may even more debt Greece. However, the Greek economy is collapsing, bending under unbearable austerity measures that prove totally against-productive: the final 2011 deficit was much higher than that of 2010. Greece has asked banks to increase the restructuring by up to 75% but the big banks are refusing to go beyond 60%.

The problem is that if voluntary loss, CDS (Credit Default Swap or insurance against default) are not activated, they are therefore useless in this case. However, several hedge funds have smelt the bargain with the Greek CDS, and they bought in recent months large amounts of government debt at a low price, and they are determined not to accept voluntary haircut. There are two possibilities: either Greece is repaying, aided by private creditors who accept the discount, and  the hedge funds will be refunded in full. Or Greece actually does default, and in this case, hedge funds will be reimbursed by the issuers of CDS. Thus, the number of creditors with a stake in Greek default increases, threatening the whole. It is of course possible that under pressure, a last-minute agreement is reached, but it will only postpone the date of the default which is inevitable, as Greece cannot repay such amounts.

But the Greek default, short or medium term, carries with it many dangers: impact on the ECB, IMF lending and public structures, destabilization of bank balance sheets, failure of CDS issuers, major tensions in the bond market and therefore the financing capacity of states and banks. All because of € 360 billion of debt. Recall some self-explanatory figures: Spanish + Italian debt: 2300 billion; German + French debt: 3700 billion; U.S. debt: 12 000 billion.

Posted in credit