National payday loan relief is one of the legitimate loan consolidation companies. It has a decade’s worth of experience in helping clients get out of loan debts.

It is based in Oakland Park, FL, and has helped many people find their way out of extreme debt. As a result, National payday loan relief reviews are positive from previous clients

People, who are in multiple payday loans debt, need debt consolidation plan to settle their loan debt instead of taking another loan to pay off previous one. A trusted wage day loan consolidation company who specializes in payday loan debt can help you to settle.

Some other terms are also used for these types of loans such as; cash loans, cash advance loans, payday advance, check advance loans, post dated check loans and deferred deposit loans. National debt relief provides assistance to victims.

Why should choose National Payday Loan Relief?

Reliability

They are in the field of debt settlement business for more than ten years. This is an indicator of good services. They provide help with payday loan debt settlement and make people’s financial life smooth and on track again.

Legal Protection

Provide legal protection to their clients. A local attorney assists clients for free and provides legal security blanket to their clients without additional legal costs.

Negotiations

National payday loan Relief’s credit attorneys can convince loan lenders to waive off huge amount off in overall debt. While in other companies employ clerks to speak to lenders of clients.

Supportive

National payday loan relief’s customer care department staff is knowledgeable and receives adequate training to handle all customers with high esteem.

Recommendations

Clients, who got huge reduction in overall debt speak for this debt consolidation company.

Payday Loan Assistance Program Guidance

24 Hours Free Quote Request

Potential clients can apply for a free quote through its official website. The applicant submits personal information like name, contacts, federal state of residence, and outstanding debts.

The credit counselor will respond within 24 hours to free quote requests. If a client wants swift response, then he can call on an active toll-free number posted on National Payday Loan Relief’s website (1.888.407.4521) and book a free appointment with one of the certified consolidation officers.

Client Inspection

National payday loan Relief credit counselor will ask few questions to determine eligibility of client during first appointment. Consolidation applicants have to provide their bank statement to National Payday Loan Relief’s credit counselor.

If your total overdue loan amount is $1000 or more than you are eligible to apply for this debt consolidation plan. For marketing purpose and drive people to apply for plan, there are not many details about collateral requirements and settlement plans on website.

Success Rate Regarding Debt Consolidation Plan Negotiations

National payday loan relief does not claim high success rates regarding debt negotiations. But it has earned positive reviews from its clients. Applicant, on qualifying for a consolidation plan, will receive an assigned debt counselor. These legal assistants negotiate with the affected loan lenders to settle for a debt consolidation plan.

Limitations of National Payday Loan Relief

Federal states of America have their own set of credit consolidation policies. National payday loan relief is offering its services of loan consolidation plan in two states of US i-e Florida and Texas. But at the same time, it will recommend suitable debt consolidation companies within or near your city.

Eligibility of two applicants with the same amount of outstanding loan is not equal. Their eligibility depends on their current level of financial hardship. Its system favors applicants who have seasonal industries and might have difficulty to pay off their payday loans during off-peak seasons or have different types of pending debts such as credit card, medical and student loans.

Final Words

National Payday Loan Relief offers affordable debt consolidation loan program to help people to restore credit scores. It provides free quotes to potential applicants and charges a very small amount as service charges. Assigned credit counsellor and financial coach advise clients on how to clear such debt and tips to spot illegal payday lenders.

Its website lacks some basic information. May be it is their marketing strategy to urge clients to contact in person rather quit without any meeting with credit counselor. Although National payday loan debt relief reviews are positive but it is still suggested that despite of Strong debt consolidation program, should provide the generous amount of information on website.

International trade involves numerous factors such as payment for imports in the exporter’s country; shipment of goods within the limitations prescribed and difficulties of enforcing legal rights in the foreign country etc. Therefore, to overcome these hurdles, a system has been enforced; this system is represented by ‘Letter of Credit”.

The letter of credit is today the foremost way of financing international trade. In simple words, a letter of credit (L/C) can be defined as: 

“A bank’s written undertaking given to the exporter for payment of a certain sum of money on behalf of the importer provided the exporter tenders to the bank, or its overseas agents, the specified documents within a specified period in accordance with the terms of the undertaking”.

Parties involved in LC

• Importer 
• Issuing Bank 
• Exporter (Beneficiary) 
• Beneficiary’s Bank 

Other parties involved in L/C processing will be discussed in subsequent sections.

Letter of Credit Process Flow Chart

1st exporter export the goods

Importer pays after receiving goods

The dilemma of not trusting a stranger in a foreign land is solved by using a bank as an intermediary. 

Letter of Credit Application Form 

After having an approved L/C limit, the process of L/C opening starts with the L/C Application form. The bank has prescribed a standard application form that contains the required guidelines, instructions, and other relevant terms and conditions under which the L/C is to be opened and claims from the beneficiary are to be settled.

The application form contains the following

Description of the goods, detail of quantity, unit price, total price, and currency of credit. 

Instructions about the advice of credit, whether it should be sent by registered mail, by courier or telecommunication. 

Form of credit: whether revocable or irrevocable, confirmed or unconfirmed. Due to permission of irrevocable credit only, it is prescribed on form. 

The name and address of the beneficiary. 

Type of credit: whether sight, Usance, etc. 

The validity period of credit and last dates for shipment and negotiation. 

Port of shipment and port of destination and whether trans-shipment and/or part-shipment are allowed. 

Types and number of sets of documents required to be submitted by the exporter. 

Shipping terms in the contract of sale, e.g., FOB, C&F, or CIF, etc.

An application form is a formal contract between the issuing bank and the applicant; therefore, it is signed by the customer, who by doing so undertakes to abide by the terms and conditions of L/C, mentioned in the application form.

Adhesive Stamp

The application form must possess a legal stamp worth Rs.100 or 500. Form without this adhesive stamp is not accepted. This legal stamp is pasted on the application form before giving it to the applicant.

Advantages of Letter of Credit 

Since a letter of credit is opened only by the importers with established credit standing, the exporter is sure of receiving the price of his commodity. 

An exporter may obtain necessary finance immediately on shipment under a letter of credit (through negotiation, OD Buying). 

A letter of credit may help the importer to meet its financial difficulties. He may obtain some finances against the L/C (as FIM, FATR, etc.).

Similarly, an L/C enables the exporter to obtain finances from his bank, for the operations of production even before shipment (e.g. Pre-shipment finance). 

Valid city markets have unusual importance regarding import operations and are considered as a business and commercial hubs of imports.

The process of imports starts with the establishment of a letter of credit. Before going into the details of this process, first the explanation of the letter of credit (L/C) and its basic aspects.

Letter of Credit Process

Starting from the establishment of an L/C, till the retirement of documents, the following are the banks involved in the whole L/C Cycle.

Issuing Bank (Opening Bank)

The banker opening the letter of credit is called Opening Bank or Issuing Bank. Opening a bank’s undertaking under an irrevocable or confirming L/C is absolute. Therefore, once an L/C has been communicated to the beneficiary through the bank, the banker has no option, but to pay, provided the other terms and conditions have been fulfilled.

Advising Bank

The bank that advises the L/C means who physically delivers the L/C to the exporter on the behalf of the issuing bank. It is a correspondent bank of the issuing bank situated in the beneficiary’s country or it can also be a branch of issuing bank.

Negotiating Bank

The negotiating bank receives the documents and delivers them to the exporter. When the exporter completes all the documents, after making the shipment, the negotiating bank sends them to the issuing bank. 

Reimbursement Bank

According to ICC Rules, Reimbursement against foreign currency has to be made through the country originating that currency. Therefore, for dollar transactions, reimbursement has to be made (received) through the banks situated in the USA.

When issuing banks don’t have any branch in the USA (for dollar payments), like ACBL, the reimbursement is made through a bank in the USA, where the issuing bank has Nostro Account, that bank is known as Reimbursement Bank or Drawee Bank. It is a correspondent bank or issuing bank and makes payment by debiting the Nostro account.

Types of Letter of Credit

Revocable L/C

“A revocable letter of credit may be amended or canceled by the issuing bank at any moment, without prior notice to the beneficiary”. 

This form of credit gives the buyer maximum facility but it places the seller in a difficult position when the goods are in transit and the credit is revoked before the documents are presented and payment has not been made on presentation.

Irrevocable L/C

“An irrevocable credit constitutes a definite undertaking of the issuing bank to accept and pay the bills drawn upon it so long as the terms and conditions stipulated in the letter are fulfilled”. 

This form of credit can be amended or canceled only with the agreement of all parties to it. Therefore, it gives the seller complete protection. 

Confirmed & Unconfirmed L/C’s

A confirmed credit is the one that has been confirmed by the advising bank. By confirming a credit, the bank agrees to take the liability of making payment to the seller if the issuing bank defaults for any reason

“When an issuing bank authorizes or requests another bank to confirm its irrevocable credit and the latter has added its confirmation, such confirmation constitutes a definite undertaking of such bank (the confirming bank), in addition to that of issuing bank, provided the stipulated documents are presented and that the terms and conditions of the credit are complied with.” 

Whereas, an unconfirmed credit is one that exclusively depends upon the issuing bank’s obligation. 

The parties to the present-day international trade transactions prefer a confirmed irrevocable credit because it is an instrument of the highest quality which ensures the payment to the seller by the advising bank while the buyer is assured of receiving the documents of title to goods, as specified in the terms of credit.

Sight L/C or L/C at sight

If the beneficiary of credit is to obtain payment immediately on presentation of stipulated documents, it is a Sight Credit” 

In this form of credit, the exporter draws a sight or demand draft payable at the counters of the advising bank or the bank specified in the letter of credit. The draft (bill of exchange) is paid on a presentation provided that all the other terms of the credit have been complied with. 

USANCE L/C:

When a credit stipulates payment to the beneficiary upon the maturity of a bill of exchange drawn under the terms of the credit, it is an ‘acceptance credit’, ‘terms credit’ or Usance Credit”. In this form of credit, the beneficiary draws a draft for a particular Usance (e.g. 30, 60, or 90 days, etc.), payable upon either the correspondent bank or the issuing bank. 

Clauses of Letter of Credit 

A letter of credit contains several clauses. The main ones are: 

Type of Credit

The heading of credit indicates the type of credit and its purpose. For this purpose, every bank has prescribed its own letter of credit forms. 

Value of Credit

The fixed amount to which the bank is liable is specially mentioned in the letter of credit. 

Specifications of Documents

The documents required are specially mentioned in the credit 

Description of Goods

A brief description of goods that are required by the importer is given. 

Partial-Shipment and Trans-Shipment

Part-shipment

Shipment of goods in lots or installments i.e. in more than one shipment. 

Trans-shipment

Carriage of goods by more than one vessel or mode of transport. 

The credit must specify whether this can be trans-shipped / part-shipped or not.

Validity Period

This is a very important clause and because every credit indicates an expiry date or the validity period. This period is so fixed to provide sufficient time to complete the transaction. 

Reimbursement Clause

This clause indicates the method for obtaining the reimbursement by the foreign negotiating bank. It will be discussed elaborately in a later part.

Opening a bank account was a baby’s task some years back. It’s still simple and easy but due to many different unethical and unauthorized activities in Pakistan, it needs some banking processes (ordered by State Bank of Pakistan) to follow for opening a Bank Account.

Basic Types of Banking Accounts

1. Current Account
2. Savings Account

In Current account, you deposit you money and get no reward or interests on deposited amount where as in saving account you get some percentage from bank that is variable bank to bank. Both accounts have the basic requirement.

• The income Source: How you earn the money you want to deposit in bank?
• Valid Computerized National Identity card with copies
• Valid postal address of your home/office to receive letters from bank

How Free Lancers can open bank account in Pakistan?

Collect all the documents and visit nearest branch of any bank you like, there are many options and every bank is giving different services and have some different requirements as well as benefits of opening account at their bank like free cheque books, free atm cards, monthly, semi annually or annually statements as well as online banking and mobile banking.

The Problem for Bank Accounts for Freelancers

As free lancer, you cannot provide valid income source as you are neither an employee nor a business. You are just providing services online.

The fact, “Pakistan is one of those countries providing a large number of free lancers worldwide. Pakistan is ranked at no. 4 out of 10”

How to make a valid & authentic income source?

The first and sincere advice is to register yourself as a service provider with fbr and visit your rto for this purpose.

You can get a salary slip or employment letter from any of your friend or family running small or big scale business. Simply provide it to bank and get your problem solved.

It is easiest way

You can show yourself as a business entity; providing services and generating revenues. (Don’t use this in fake manners because authorities can track and disable your account in future)

For this piece of work, you will need to make a company letter head mentioning your business name with your address (both office & home are accepted).

You can simply google this queries and get hundreds of formats and visit some designer to do it for you.

Possibly bank may demand your visiting card, the reply would be, but not a big deal to answer it.

You can also open your bank account as student. For this you need to be a student of some College and university and would need to provide your student identification card along with CNIC. This account will be valid for the time of your education only.

Once your documentation is completed, you can simply go to any bank and provide them your details and request them account opening. You will provided an account opening form (usually staff will fill for you). Fill it up and submit it to bank with some initial deposit, maybe 1000 rupess or more.

If you are choosing to open account as business / service provider. You will need to write a request to bank on you letter pad for opening account. The format of application can be like this. Bank may require stamp but it’s not mandatory for personal account.

Branch Manager,

Branch Name (Town, Bazar etc)

Bank Name (the bank name)

Subject: Account opening request

Dear Sir,

We are providing online services to our clients from “one month” (time you are working) and providing services like “Website designing development, Domain, Hosting, SEO, Content writing etc” (or services you provide).

Most of our clients are from different cities and we need them to pay our services charges in our bank account. It is requested to kindly allow to open a bank account in your branch.

Regards

Your Name

CNIC No.

Your Service Providing Name

Note: In this way, your account will be opened with person’s name and not your service providing business name. If you want to open an account with your service providing name, like ABC Services, you will need to register yourself for NTN (National Tax Number) and enjoy,

Furthermore, If you are opening through this way. Bank may demand your client’s name, to whom you are providing or have provided your services in present and past respectively.

Disclaimer: This is general account opening process for freelancers and we shared it only to help them. We strongly discourage using the above way if you are not a freelancer.

Everybody is not lucky enough to all the facilities to make their dreams come true. They have to make situations according to them. There are many students who did not have a strong family background; had to suffer a lot because of a money crisis.

But now, everybody can feel like the king of the world. Unemployed students who do not have enough to spend on their higher studies can borrow without any difficulty. And they can make their dreams come true of studying further without doing any part-time job.

Loan Laws for Students in UK

The Government of United Kingdom through the student Loan Company SLC provides loans for Students who are unemployed. Student Loan Company is a non-departmental public body that is responsible for Student Finance England and Student Finance Wales. Unemployed students can apply for tuition fee and maintenance loans to pay for course fees and living costs.

No matter where in the UK you attend university, The Student Loans Company manages all British student needs. You can get extra money in form of Student Loan to pay for university or college tuition fees and to help with living costs. You start repaying 9% of your earnings above a certain income.

The best part it, monthly installments of your student loan will depend on how much you earn, not what you owe.

Loan System for UK’s Students

British student loan is administered by the Student Loan Company. In the UK, when you want to take out a student loan, you deal with the student finance body for the nation where you originally live – England, Northern Ireland, Scotland or Wales. It is not like a commercial loan.

Unemployed Student Loans are of three types;

1. Government student loans for unemployed
2. Parent-student loans for unemployed
3. Private Student loans for unemployed

Rate of interest is different for these three types of loans for students. Rate of interest for government unemployed student loans is comparatively low as compare to other two types.

Eligibility

There are two eligibility criterions to meet the student loan requirements: one is personal eligibility and the other is course or institution eligibility.

Personal eligibility criterion concerns the student’s residency status.

Course/ Institution eligibility criterion is that student must be studying for an undergraduate degree at a UK degree awarding institution or other verified higher education institution.

In addition, students aged less than 60 years studying for a postgraduate taught Masters at a UK degree-awarding institution or other verified HEI or students on some teacher, youth and community worker courses are also eligible for SLC support and for a £10,000 student loan.

How much Does Tuition Fee Loan?

Loan covers the cost of your course fees. The publicly-funded universities and colleges are currently charging students annually £9,250. These universities and educational institutes charge you according to your residential address and where you’d like to study.

If you live in Northern Ireland, Scotland and Wales, then you can apply for a tuition fee loan to nation’s student finance agency which may cover some or all of your tuition fee costs. And it is up to you whether you apply for a tuition fee loan to cover the full cost of your undergraduate course in a publicly-funded institution or some of your tuition fee.

Student Finance Agency will transfer tuition fee loans directly to your universities or college and not to your bank account. And you have to pay it back once you finished your studies and start earning above a certain amount.

Full-time students can get loans of £9,250 and full-time students at a private university or college can get £6,165 for the academic years 2017-2018, 2018-2019 & 2019-2020 and onwards.

Maintenance Loan

Maintenance loan is the loan to cover your living costs while studying. UK domiciled Students who are eligible for tuition fee loan are also entitled to a maintenance loan, which is designed to help pay for living costs whilst at the university.

Maintenance loan is a set amount for all students. Students at home are entitled to less and those living away from home in London entitled to more amount of maintenance loan.

Repayment of Student loan along with any maintenance loans will be started your graduation or once you have completed your studies.

And you start earning above a certain amount.

Tuition Fee Loan for Part-time Students

If your course has a course intensity of 25% or more then you are eligible to apply for. You can check the intensity of course with your university or college. If you are eligible then you can apply for a tuition fee loan of up to £6,935 per year.

Tuition Fee Loan for Postgraduate Master’s Students

If your age is 59 years or under and you are planning to study a postgraduate master’s degree, you might be eligible to receive a loan of up to £10,609 to contribute to your course and living costs.

You’ll only make repayments of the loan when you earn over the salary threshold, which is currently £21,000 annually.

Repayment of Unemployed Student Loan; How and When

The students will be eligible to start repayments in April after they have finished or left their course. The government has set repayment threshold. A repayment threshold is a minimum income that you will have to earn before you begin to repay your student loan.

Repayment	England & Wales	Northern Ireland & Scotland
Annual income	£25,725	£18,935
Monthly income	£2,143	£1,578
Weekly income	£494	£364

The Scottish Government has shown their commitment to raising the repayment threshold. The Scottish Government will raise it for the students from Scotland to £25,000 from April 2021.

For more information, see the Student Loans Company website for information about loan repayment.

When you start earning and reach the repayment threshold, you will pay 9% of your income. Income includes earnings from employment, self-employment, rental income, earning from savings interest, pensions or from investments, this would count as part of your income.

Employment	Repayment
Employed in UK	– If you are employed in the UK then your repayment will be collected through PAYE – HM Revenue and Customs makes the calculations and deducts the repayment from your gross pay with your income tax – It is your responsibility to inform your employer that you are due to repay a student loan
Self-employed	– If you are self-employed, so you will have to budget for your student loan repayment – Set money aside as the Student Loan Company cannot accept payments by credit card – You may have to deposit money as a direct debit to a saving account and repayments will be collected through the tax self-assessment system
Leaving Country for more than three months	In this case, you have to inform the Student Loan Company. The earning threshold differs for overseas countries

There are possibilities that a person could not repay the loan in full 30 years after his first payment, the remaining balance will be written off.

For Further Information

For more information on grants, loans, and other financial support available for undergraduate, part-time or postgraduate students, or for special needs students contact to student support services in your college or university or speak to an adviser.

You can also contact your country’s student finance agency

• If you are a student in England – Student Finance England
• If you are a student in Scotland – Student Awards Agency For Scotland
• If you are a student in Wales – Student Finance Wales
• If you are a student in Northern Ireland – Student Finance NI

A personal loan is unsecured borrowed money, from a bank, credit union, or online lenders, by non- US citizens or resident aliens in U.S. Unsecured personal loan, is not backed by a car or house. The amount of personal loans ranges from $1,000 to more than $100,000. This amount is to be pay back in fixed monthly payments, over the period of two to five years.

Either you are researching about low interest personal loan lenders or going to submit your personal loan application, it is better to know what documents are needed to apply for a personal loan. If you work on the following, it will definitely increase your chances for approval of a personal loan.

What Documents are needed to Qualify Personal Loan

Personal loans do not require collaterals such as a house or car. So it is getting difficult to qualify for a personal loan as a non-U.S resident in the U.S.

International lenders, banks, and financial institutions have strict eligibility criteria for a personal loan. In the USA, eligibility criteria are much stricter for non-U.S. residents or alien residents.  

Here is the list of documents and general requirements for non – U.S. citizens across the U.S.

These Documents can be categorized as

A: Identification Documents

B: Financial Details

C: Credit card report

Detail of the required documents is given below. Make a checklist of the following documents:

A: Identification Documents

Formal processing of personal loans demands a series of documents that help in the identification process of the applicant. Following is the list of documents:

• Passport of applicant
• Driver’s license
• State ID or Social Security card
• Your Birth Certificate; applicant must be 56 years of age or older
• Certificate of Citizenship
• Utility bills
• Military ID

B: Financial Details

Personal loan lenders required the following information and details for verification of your Income.

• Last 3 months Bank statement
• Salary slips for last 3 months and tax returns
• If you are self employed, you have to provide income proof, audited financial for the last two years.
  • Proof of office ownership and address
  • Provide supportive document proving continuity of income
  • Tax returns from the last two years

C: Credit Card Report

The application form may require information regarding your debt, liabilities, and assets. If your credit score is strong then you have better chances of approval of a personal loan at a lower interest rate. Credit card scores are general categories as follows:

Sr.	Credit Card Ranking	Credit Card Score
1	Excellent	720 and higher
2	Good	690-719
3	Fair or average	630-689
4	Bad	300-629

 It is not possible for you as nonresidents to provide a two-year credit history with a valid credit score within the U.S. or you have a bad credit report. But the good news is you still can apply for a loan with a bad credit score. In this case, you will need nontraditional credit references to increase the chances of approval of a personal loan. Lenders will need the following nontraditional credit references:

• Proof of additional source of income and working in U.S. for the duration of at least three years
• Payment record of your current rent or mortgage expenses
• Non-payroll-deducted medical bills, life insurance and auto insurance
• School tuition charges
• Paid Utility bills
• Add a co-signer in your application. This will add weight age to your request for loan  

Tips to speed up the application process

Once you have researched the best lenders in the USA. And finalize the lender who matches best with your need of loan and repayment plan. The next step is to apply formally for a personal loan. Following three steps will speed up your application process.

• Make a check list of required documents before you start. Before you start your online application, make everything organized and check the complete list of needed documents. It will save your time, and decrease the chances of missing any important information listed on site of lenders.
• Have a Scanned copy of all your documents. Keeping Electronic copy of your important documents is a good idea. It makes easy to complete online application. With a click, you can open the folder of scanned documents and attach the file of required document with online application form.
• Start now, finish later. While applying online, if you don’t have everything in hand. Don’t get panic. Just use “save and complete later” function offered on most online application forms.

You can easily complete your loan application if you know what documents you’ll need. Now compare lenders and apply for a personal loan.

The lender will check your credit score which may knock few points off from your credit score. When you qualify for a personal loan, you will receive your funds within a week according to the lender’s term. A personal loan consolidates debt, improve your credit score and covers unexpected costs.

But before taking a personal loan, think things over and then make a final decision. Find the best lenders who offer the lowest interest rates. Be sure that you are borrowing only what you need and be punctual with your repayments.

A credit card is also known as “plastic money”. A credit card allows a person to borrow funds from a bank, a financial company, or lender. This new financial tool has the potential to change your life. But credit card use will bring positive change or make your life worse. It depends on the way to use a credit card. If you use a credit card wisely, it will give you financial liberation.

Otherwise, it can let you fall into debt.

Millions of credit card users exorbitantly overcharged because they do not use it in the right way. Hence, it is best to use a credit card responsibly. Take credit card as a financial tool that helps you to build a healthy credit history that will serve you later in life.

The good credit score can make it easier to buy a new car or a new house on low-interest rates and fees. Here are top tips and tricks to help you to avail the benefits of having credit cards and avoid any costly mistakes.

Credit Card Tips and Tricks

That is why we have come up with tips and tricks regarding credit card usage to help you boost your credit rating. Here is the list of credit card tips and tricks for beginners. Follow these tips to avoid accumulation of interest and getting a bad credit rating:

1. Be Aware with Terms

Make sure that you know all the terms either you have it or going to apply for a new one. You should have prior knowledge about the interest rate, when your payment is due, the fees and all those factors which may incur an increased rate of interest.

It is important to understand the Annual Percentage Rate (APR), which decides how much interest you pay.

2. Keep an Eye on Balance Alerts

Mobile banking services have made it easier to have a check on spending with your credit card. Many large card issuers will notify you via email or mobile text alerts whenever you have spent the amount equal to the threshold that you have set. Mobile alerts will notify you when:

• When you have utilized 30% of your credit. For example, if your credit card limit is £1000. Then you should spend under £300.  
• If spending is unusual means doesn’t fit your usual pattern of spending, or transaction is from an unfamiliar location.

3. Activate Spending Analysis Tools

Spending Analysis Tool is one of the most important features offered by most card issuers. Spending track app allows you to see how much you have spent at the end of the month in different categories like restaurants, travelling, dining in, general merchandise, etc.

This will help you to analyze spending where you have spent more and where you have good control over your budget. Instead of letting your card to fall into debt, use your accounts to help you stay within your budget.

5 Ways to Track Credit Card Spending

1. Sign up for transaction alert.
2. Use text message banking to get on-demand accounts updates, such as a balance total.
3. Despite waiting for credit card bills, log in to your online credit card account and have a track of your account.
4. Your credit card statement breaks down your spending by categories. This might alarm you to cut unnecessary expenditures and save money for essentials.
5. According to new federal credit card regulations, you have to provide a snapshot of your credit debt.
6. This will help you to calculate how much you need to pay each month to pay off your current debt in three years.

4. Pay Your Bills on Time

It is important to pay bills on time to avoid interest. If you don’t, it will damage your credit score. Although it is very important to never skip a payment, still there are chances that you cannot afford to pay the full amount.

In this case, pay a minimum amount of your credit bill. Because if you miss a payment, it could result in a penalty, higher interest rates and a negative impact on score.

Your credit cards become expensive if you do not pay your bill in full and on due or before the due date. Consequently, the interest rate may increase to 20%, converting little debt into big debt.

Mid-Cycle Payments

Moreover, if you develop a habit to charge your card anytime in between the due date, this will make your credit card utilization low. Consequently, it will help to have a good credit score.

5. Is One Credit Card Enough?

Every new credit card advertisement may make you tempted to avail that too. But keep in mind, that every new application for a new card will drop your credit score. At the same time, it will increase the risk of too much debt on you.

So, it is better to keep one credit card especially when you are a college student.

6. Switch Your Due Date to Avoid Missing a Payment

If you are facing problem in payment of credit card bills as if the due date comes at an inconvenient time during the month. Despite missing payment, it is better to call your card issuer to move your due date.

This one simple move will help you to preserve a good credit profile.

7. Get a Reward or Cash-back Card Now

Credit card companies offer attractive deals to win the loyalty of their customers. So choose the best credit card for rewards. It is good for you to take advantage of these offers by using a credit card wisely.

If you are punctual in your full payments, a cash-back credit card is a great way to get some percentage of the amount you spent in form of cash or a reduction in your bill.

Another key point is keep one high-reward card for most or all of your purchases. This is a good way to rack up a lot of points.

Payday loans which are sometimes referred to as cash advances or check loans are short-term loans at high-interest rates, typically around $500 or less, that are due on your next payday along with fees. 

These loans may be marketed to help people to bridge the gap between their paychecks and unexpected expenses. But the Consumer Financial Protection Bureau says that payday loans can become “debt traps.”That is the reason, you should be cautious of payday loans.

The former president of the United States of America Obama said, “If you lend out money, you have to first make sure that the borrower can afford to pay it back”.

President Obama gave the above statement when The Consumer Financial Protection Bureau, a federal consumer watchdog group, just released plans to further regulate payday lending, a practice that’s viewed as predatory to consumers.

While payday loans are certainly popular, they are often criticized as charging exorbitant fees and interest rates, setting up borrowers to fail, and setting them further back financially.

How does Payday Loans Work?

Payday loans are marketed with different names such as cash advance loans, deferred deposit loans, check advance loans or postdated check loans — but they typically work in the same way.

If someone is in financial crisis and needs cash fast before he gets his next paycheck,  whether for an emergency, to pay a bill, fix their car, buy groceries, or any other reason. They can apply for a payday loan.   The lender verifies his employment, bank account, and documents some other information.

And then approves an immediate loan for a certain dollar amount. The borrower may need to write a postdated check made out to the lender that is dated for the same day when his paycheck comes.

The due date of loan payment is usually by your next payday, generally in two or four weeks. Many states allow payday loan lenders to cash your check and get the loan paid off with accompanying fee charges. Different states allow lenders to charge from $10 to $30 for every $100 borrowed.

Why are payday loans bad? The Problems Related to Payday Loans

The Pew Charitable Trust estimates that every year in the United States, about 12 million people borrow nearly $50 billion through payday loans. The majority of payday loan borrowers are employed and of lower financial status.

In a cash emergency, people often opt for payday loans as they may provide instant cash you may need. But before applying you should be aware of payday loans problems.

High Annual Percentage Rates (APR)

If a person gets a two-week $500 loan that charges $15 in fees for every $100 he borrows. According to the CFPB, the Annual Percentage Rate of the above-mentioned loan will be almost 400 percent.

Short Terms

Payday loans are also known as short-term loans as you typically need to repay a payday loan within two to four weeks of the initial loan.

Additional Fees

You may have to pay additional fees on top of the initial loan fee if you don’t manage to pay back the loan within a short amount of time. According to CFPB, nearly a quarter of initial payday loans are re-borrowed nine times or more.

• Non-sufficient funds charges, if you don’t have enough money in your bank account at due date to repay your loan. Then additional charges will be add on top of the initial loan fee.
• If you do not repay loan on time then you have to pay late fees or return payment fees.
• If you are unable to pay your loan on time and want to reschedule your loan’s due date. Then you will be charged with rollover fees on top of the original loan and initial fees.

Payday Loans Won’t Help to Build Credit

Short-term payday loan lenders usually do not report your payment history to the credit bureaus. That is why; a payday loan is not helping you build credit.

Target of Payday Lenders

People with limited financial education, weak credit, and low-income areas are targets of payday lenders. Just to achieve their target market, they follow payday loan laws. Each US State has its own laws, Residents of Louisiana may refer to Louisiana Payday Loan Laws.

Focus on scrutinizing people who are uneducated or desperate for credit. As these people don’t understand technical terms. So they give business to these lenders in form of higher interest rates and additional fee charges.

Why Are They So Disadvantageous?

The big difference between credit cards and payday loans is finance charges. Although finance charges on payday loans run around 15-30% of the amount you borrow. First thought strike to mind as it is the same as expensive credit card finance charges. But it is not.

The reason is credit card interest rates are spread out over a whole year while payday loan charges are amassed in a very short time. APR of payday loans would be around 800% in some cases.

Generally, the borrower has to pay a cost 35 times more than borrowing money on credit cards. If you borrow money for a home mortgage or auto loan to then the loan can cost may up to 80 times.

Do People Take Out Payday Loan Once?

Researches show that taking out a payday loan is a recurring pattern. The Consumer Financial Bureau Stated that 64% of payday loans are extended multiple times which results in fees that are more than the original loan amount.

Only 15% of easy to get payday loan borrowers pay the loan on time within 14 days and the rest of them take out six or more quick cash payday loans a year or roll over their loan within just two weeks.

Is It Detrimental To Take Payday Loans More Than Once?

When you take out payday easy loans often, it starts building a trap that spirals their finances out of control. Overextended finances and more loans with high fees and interest rates make borrowers spent a good amount of their checks once payday hits, and will find themselves short of cash again very quickly, taking out more loans. In this way, this stuff gets crazier.

Other Alternatives of Payday Loans

Financial advisers suggest that although payday advance loans seem like a quick fix. It is better to prefer other options such as; borrowing from a friend or family, asking your employer for an advance, or even taking out a cash advance or make purchases on a credit card.

Outcome

If you are in a financial emergency and need cash now then a payday loan seems the easy way out. But it may end up making your problem worse with their huge fees.

But no matter what you do, it is suggested to educate yourself about the risks and pitfalls of various loans. It is better to look for payday loans alternatives. Take help from credit counselors to develop a budget and work on starting a saving account.

When the concept of the demand and necessities and their difference is clear, the next step in financial responsibility becomes learning what to do with money left after meeting the basic living needs.

Personal Finance

The management of fee for education, purchasing fixed assets like property or cars, buying the insurance policy, investing and saving for retirement are categorized as Personal finance. It may also involve paying for a loan, or debt obligations.

Financial Planning

The basics of personal finance is financial planning, a periodical process, that requires day-after-day monitoring and re-evaluation. Financial   planning process involves five steps, these are

All above is a long and time-consuming process. Now finance management, budget sticking, and investment handling decisions are easier than before because of personal finance applications.

Personal Finance Applications

Expenses track, bills payment and budget creation are precisely fun activities and these tasks are easier now with Android apps. Either someone is trying to save money, track company investments or pay off debt; there are many easy to use apps to help. There are many free personal finance apps available at Google play store. Top 10 of them are going to be discussed one after another based on users reviews, experiences and expert opinions.

10 Best Personal Finance Android Apps

Wallet

A planner that helps to track money spent, plan a budget and save money. Get a report of finances, together with the people being trusted across multiple banks, Currencies and financial institutions. Upload Fidelity or Reward cards. Keep full control of finances.

Wallet Andoird App Reviews

Rating: 4.5/5

Key or Unique Features

• AutomaticBank Updates
• Imports or Manual Bank Updates
• FlexibleBudgets
• Insightful reports
• Sharing selected accounts
• Loyalty and Reward cards

Money Manager

It allows to manage and record finance, personal, and business transactions, generate reports, and daily, weekly, and monthly financial data review.

Money Management Android App Review

Rating: 4.6/5

Key or Unique Features

• Doubleentry bookkeeping accounting system
• Budget and expense management function
• Credit/ Debit Card management function
• Transfer,direct debit and recurrence function

iSaveMoney

It has a lot of features and functions that will help to plan a budget, record transactions, and forecast budget.

iSaveMoney Android App Reviews

Rating: 4.7/5

Key or Unique Features

• User-friendly directions
• Speech recognition
• Auto-complete function
• Calculator
• Budget maker templates
• Budget planner templates
• Debt and saving calculation based on income and expense info.
• Budget forecast.
• Daily transactions monitoring
• Automatic Draft payment function
• Export data in CSV format
• Back up and restore data

Monefy

Safely synchronize data between all devices. Create or change records, add or delete categories and synchronize on other devices.

Monefy Android App Review

Rating: 4.6/5

Key or Unique Features

• User friendly interface
• Add new records
• Multi-currency support
• Nice and informative charts
• Safely synchronized using dropbox account
• Backup and export data
• Use budget mode
• Passcode protection
• Multiple accounts support

Bluecoins

An app to track and plan expenses, plan a budget. Synchronization and multi-currencies support, access to personal financial data on any device at any time and anywhere.

Bluecoins Android App Reviews

Rating: 4.7/5

Key or Unique Features

• Finance made easy
• Daily summary
• Monthly calendar
• Expense, income and net earnings
• Cash flow
• Budget tracking
• Flexible budgeting
• Bills and reminder
• Cloud backup
• Fingerprint and password security
• Export reports in PDF, excel & html
• Powerful finance search engine

Mobills

Allows a monthly budget creation to take control of the money. Manage money, track spending, and achieve financial goals.

Mobills Android App Reviews

Rating: 4.6/5

Key or Unique Features

• Credit card manager
• Financial goals and budgets
• Customized graphs and reports
• Advanced filters by bill, category, and tag
• Cloud synchronization
• Financial goals manager
• Expenses with Geo-location
• Store and save your receipts
• Export and import of EXCEL, OFX and PDFspreadsheet
• Bill payment alerts
• Monthly and annual cash flow graphs
• Monthly Budget Planner and Bill Reminder
• Debt control

AndroMoney

A personal finance tool for use on your mobile phone. By using this tool, we hope you can better manage your wealth.

AndroMoney Android App Review

Rating: 4.7/5

Key or Unique Features

• Multiple accounts and support account balance & account transfer
• Cloud Storage (Drop box ,Google Docs)
• Synchronize with other devices
• Any currency with downloadable rates
• Hierarchical categories with custom attributes
• Pie and Bar charts for Expense and Cash Flow
• Password Protection
• Overview expense and income summary
• Back up data to Excel/ Mac Number

Fast Budget

Many tools for managing money like various types of charts or a useful calendar.Possibility to synchronize five devices.

Fast Budget Android App Review

Rating: 4.6/5

Key or Unique Features

• Create and modify accounts
• Manage daily expenses and income
• Insert daily revenues and outgoings
• Scheduled transactions
• Summary of cash flow

Daily Expenses 3

Income and expenses organization, money movement recorded by date, the reports review daily, weekly, monthly or yearly.

Daily Expenses 3 Android App Review

Rating: 4.6/5

Key or Unique Features

• Track income and expenses
• Modify or delete the records
• Backup or restore information
• Summary of the month.
• Reports review daily, weekly, monthly and yearly
• Create graphical reports
• Horizontal screen for tablets.

CoinKeeper

Popular personal finance management, budget, bills, income and expense tracker

CoinKeeper Android App Review

Rating: 4.6/5

Key or Unique Features

• Add income or expense
• Wonderful ‘coin’ interface
• Monthly budgets
• Financially planning
• Manage a family budget
• Quick start, tutorial
• Help centre for new users
• Reminders for recurring payments
• Detailed statistics
• Debts management
• Code lock
• Export to CSV
• Support for all world currencies

All of the above apps are free and have more ratings with respect to reviews, expert opinions, and expertise. The above information can be the best approach to consider the best app with respect to the requirements.

Disclaimer: All the videos and downloadable apps are reserved properties of the developer. Images, Videos, and other resources are shared for informational purposes only.

If you are residing in Louisiana, and if, you find yourself in a situation where your expenditure exceeds your income. Hence, you face stress and look for alternative or traditional bank loans. Mortgage loans require one month or so for the processing which may do not suit you as you need money to synch your expenses.

In this particular scenario, payday loans or quick cash loans can get you through this rough patch.

Louisiana payday loans in Lafayette, Baton Rouge, and other cities of Louisiana are online and offline and designed as a small amount of cash loan until salary.

A cash loan is lent and has to repay on the borrower’s very next Salary. The amount of the loan is repaid by a personal check from the borrower.

The lender holds the check until the borrower’s salary, then the lender deposits this check-in particular account of the borrower, and the loan is thereby paid off.

Despite the paper checks, the loan amount may be debited through electronic access to the borrower’s bank account.

Legislation of Payday Loans in Louisiana

Payday lending is considered legal in the state of Louisiana, USA. Online Louisiana Loans industry regulates through Louisiana Revised Statutes Annotated La. Stat. Ann. 9:3578.1 et seq. Louisiana state practices quite tough regulations method to protect its residents from draconian contracts.

Payday lenders companies have to comply with the existing rules and regulations of Louisiana State to obtain a license to operate in Louisiana.

According to Louisiana payday loan collection laws, every direct lender company has to register itself under state law. Direct lender companies require completing the registration process. Then state gives them permission to issue credit check or no credit check loans to residents of Louisiana.

Nevertheless, few lenders do not get a license for issuing. They work under different licenses and offer loans with different titles. These unlicensed lender companies usually give bad credit payday loans in Louisiana on the very high interest rate and drive revenue. So beware of them.

Louisiana Consumer Credit Law Information

Louisiana Payday Loan Laws for the Understanding of Borrowers

1. Louisiana payday loans online are legal loans. Lenders use different names for payday loans such as cash advance, check advance, deferred deposit check loans, deferred presentment or small loans. It is an unsecured short-term loan which is secured by borrower’s personal check. The borrower gives an agreement to have the money back out of their bank account on the salary day of the borrower or at some future date ( usually within 14 days after borrowing money).
2. Limit of these loans is $350 at a time. The borrower is forbidden to take loan more than the limited amount by the state of Louisiana. Loans must be repaid within 60 days not longer than that.
3. According to Louisiana Payday Loan Laws; Processing charges are fixed. Legitimate payday loan companies cannot charge more than $55 as a processing fee. Louisiana laws allow the lender to charge $30 for every $100 borrowed + $10 documentation fee.
4. The borrower is not allowed to renew or refinance. Either, he must pay off the payday loan completely or repay at least 25% of loan amount before making another.
5. And if the borrower repays only 25% of loan amount then he can refinance the remaining 75% of the amount borrowed with an additional fee of $20.
6. The lenders have some legal right for collection. If one cannot repay debt when it is due then the lender can take legal steps to collect the debt.
7. The Louisiana Payday Loan Lenders can charge more money if one cannot repay on time. Maximum Finance Rate and Fees for Louisiana are 16.75% of face value of the check, + $10 documentation fee (After default: months 1-12: 36% per year; months 13 and beyond: 18% per year)
8. In case, if the lender deposits borrower’s check and a check is returned unpaid due to the insufficient amount in the bank account. The lender can charge you an additional $25 for processing the NSF
9. Borrowers are allowed to apply for multiple payday loans. There is no limitation on numbers of the loan. But it is not a good idea as it may cause additional financial hardships.

WARNINGs:

1. Payday loans are short-term loans which are not meant to meet your long-term needs. If you use these loans for the long-term purpose, it will definitely cause financial hardship.
2. Always check your company registration. Some Illegal companies are working in the US.