Mortgage Insurance Could Give You The Income You Need To Keep Your Home Identity Theft Statistics Debt Consolidation In The Uk A 5 Minute Primer Mortgage Predatory Lending And How To Avoid It Summary On Business And Credit Card Processing

If you were to lose your income by coming out of work after suffering from an accident, prolonged illness or through unemployment then you could be left with a serious struggle on your hands to find the money to continue meeting your mortgage repayments. Providing that it would be suitable for your circumstances then mortgage insurance could give you the income you need to keep your home.

Mortgage insurance would payout a tax free income each month you were out of work for up to 12 months and though some providers offer cover for up to 24 months.

The policy would give you a monthly tax free sum after you had been out of work for a certain length of time which can vary among the policies and can be anything from 31 days to 90 days with the majority of providers backdating the cover to the first day of coming out of work.

This income would give you peace of mind and security during hard times but it isn’t suitable for all circumstances and you have to ensure that it would be suitable for yours before you buy mortgage insurance. Some of the usual reasons which could mean a policy wouldn’t be suitable for your circumstances -employed, retired or if you are only in part time work. Of course it is essential that you check the key facts and exclusions of any policy you are thinking of buying as they can vary slightly from provider to provider.

Although mortgage cover – or ASU insurance as it is sometimes called – can be purchased when you take out your mortgage with the high street lender, this is often the dearest way of buying the cover and it can add literally thousands of pounds more onto the mortgage than it needs to. The cheapest premiums can be found with a standalone specialist provider of mortgage insurance and along with securing the cheapest possible policy you can also benefit from the advice a specialist will give.

Identity theft is a serious crime that we all need to be aware of. In this article we look at a number of statistics representing this crime in order to give you a better idea of this crime and how important it is to protect yourself against it.

Identity theft was first mentioned in literature in the 1990’s, studies showed that between 2001 and 2002 there was an 11-20% increase in this crime, while between 2002 and 2003 this figure had increased to 80%.

The Javelin/Better Business Bureau survey from January 2006 showed that there was a decrease in identity theft between 2003 and 2006 though. In 2003 the adult victims of identity theft living in the United States was 10.1 million in 2003, 9.3 million in 2005 and 8.9 million in 2006.

Identity theft statistics from the Javelin report however do show an increase in the fraud amount. In 2003 the one year fraud amount was $53.2 billion, $54.4 billion in 2005 and $56.6 billion in 2006.

Identity theft statistics show that in Waco, Texas, alone there was a 700% increase in identity theft cases between 2004 and 2005.

The Bureau of Justice Statistics estimated that in a six month period in 2004, a total of 3.6 million households were affected by identity theft.

Identity theft can also have severe consequences for businesses. Identity theft statistics show that it may cost a company up to $90,000 or more when just one laptop is stolen. These fees include fines, credit monitoring, public relations damage control and class action litigation.

45% of all identity theft cases are caused by stolen laptops. The second most frequent problem was data leaks from records lost by third part business partners or outsourcing companies. This second component makes up about 29% of all the cases.

The Identity Theft Resource Center says that, “Studies on the total cost of identity theft vary. One study said that identity theft cost U.S. Businesses and consumers $56.6 billion in 2005.”

A survey done by the Identity Theft Resource centre in the spring of 2006 showed some frightening results with regards to phishing. Out of 309 people surveyed, 165 people said they did not know what phishing was, while only 77 people answered correctly. For more info see on identity theft protection.

The Javelin report from 2005 however indicated that offline/traditional methods of identity theft were still more popular than online methods. The identity theft statistics they gave were 68.2% offline and 11.6 online.

In conclusion, although the number of adult victims of identity theft has decreased since 2003, the amounts involved have increased, and identity theft remains a very serious crime. Most criminals involved in identity theft are still using offline methods but we should also be cautious of online methods such as phishing. The statistics themselves may vary depending on different reports but the fact remains the same, these identity theft statistics are a reason to inform yourself about identity theft and take better precautions to protect yourself.

Getting into debt can be a very rapid process, since banks make money by issuing credit cards and other loans to those who need and want them. Each time someone charges up a credit card, they are required to pay interest as well as many fees associated with the credit cards, and banks are able to make money this way. Unfortunately, many people find themselves overwhelmed in monthly fees and payments, and they figure out that they are not able to pay off their debts. Because most credit cards and loans add interest each month, it is important to make a monthly payment higher than the interest in order to get the loan paid off, but many are not able to do this when they have many different credit card accounts and loans building up.

Debt consolidation loans make it possible for people buried in debt to get them paid off, without having to worry about forking over their entire paycheck to avoid interest charges and additional fees. Instead of having to pay ten different payments to ten different banks and loan companies, debt consolidation loans make it possible to only make one monthly payment. Banks that offer debt consolidation loans will loan an individual the money the need in order to pay off most or all of their debt, and they can then pay only one bank back with only one payment a month. This type of loan makes it much easier to avoid the many different fees and charges associated with credit cards and other types of loans, so people are able to pay off their debts and pay less than they originally had before getting a debt consolidation loan.

It is important that a debt consolidation loan only be used to pay off existing debts to keep them paid off, rather than paying them off so they can be charged up again. Debt consolidation loans can help to improve the credit of a person, since having only one open loan rather than many can make a score increase. If a person gets a loan, pays off their debts, and then charges them up again, they will experience a severe decrease in their score that can be very hard to get back up again. A person with a long history of debt should not consider a debt consolidation loan, since it will most likely be their opportunity to further build up their debt and make it harder to pay off. A debt consolidation loan also should not be used to pay off loans with little to no interest charges, since debt consolidation loans do include interest. It would be pointless to get a debt consolidation loan and end up paying more in interest and fees, so it is important to make sure the loan will actually save money rather than costing more.

Debt consolidation loans are a great way for people to get out of debt, but should be researched before agreeing to any loan. It is important to first determine that it will actually save money rather than cost more, and being able to keep the credit cards and loans paid off is also important. For more information about the different types of debt consolidation loans available, contact your local bank or credit union.

There has been a lot of talk lately about predatory lending in the mortgage industry, but not much talk about what it is. Predatory lending covers a lot of area and some of the practices that are used in it are somewhat difficult to understand for the average consumer. Here are a few aspects of predatory mortgage lending that might be of interest.

The first thing consumers should understand is that predatory lending does not begin and end with the lenders themselves. It is true that there are several lenders who are guilty of bad loan practices, but there are others just as guilty. These include appraisers, mortgage brokers, home builders, and home improvement contractors to name a few.

Some of the things that you want to watch out for when you are considering a home purchase include:

Always think twice before working with someone who will sell properties for much more than they are worth by using false appraisals that inflate the value of the home.

Never work with anyone who wants you to lie about your income, expenses, or job history. They may also want you to lie about the amount of cash that you have on hand.

Stay away from lenders who encourage you to borrow more money than you know you can repay. This is one of the fastest ways to foreclosure known.

Some predatory lenders will charge high interest rates to home buyers based solely on their race or national origin. The black community is especially hard hit with this one.

There are also some lenders and other professionals who will charge high fees that are not normally a part of the home buying process. If someone asks you to pay a fee for a product or a service make sure you understand what it is you are paying for.

Be very careful when working with anyone who tries to pressure you into taking a home loan that contains high-risk factors. These include things such as balloon loans, interest only payments, and steep pre-payment penalties.

The elderly seem especially vulnerable to those predators who use high-pressure sales tactics to sell home improvement projects or work and then finance them at very high interest rates.

Lending predators are good at their work. If they were not, there would not be such a problem with them. Some of the cons they use to pull people in include such things as telling a home buyer that they, and only they, are the only ones who will finance the home. They may also try to convince you that the home you are looking at is worth much more than surrounding homes even though there is no physical proof that it is. Many of these folks want home buyers to sign contracts or other documents that have blank spaces. Home buyers should never sign these types of documents.

Another crafty tactic is to hand over a higher than expected bill at closing. They understand that after all you have been through to get to this final stage you are more likely to pay the added charges. Do not pay them unless it is proven that they are legitimate charges.

The best advice is to be careful and to be wary. Take your time and do not allow lenders or others to pressure you or to push you into a contract that you do not fully understand.

Credit card processing has become an ease for customers and an advantageous tool for business owners. Credit card processing does not just add to the status of a business, but is also the best way to increase the sale of any business or trade. The array of benefits makes business and credit card processing go hand in hand.

Credit card processing is a process where customer gets to pay for his/her payment by simple swiping of its credit card through a credit card processing equipment or machine. The whole procedure of credit card processing to complete a money transaction consist of a network of credit card holder, credit card provider and the trader or merchant account holder.

Before owning a credit card processing service to facilitate a business with series of advantages and bonuses, a trader or a business owner needs to open up his/her merchant account. This merchant account allows a business to provide its customer with the quick mode of money transaction. In business, two kinds of merchant account are available i.e. OTC (over the counter) and MOTO (money order/telephone order). Out these two, OTC is the kind of merchant account suitable for a land based business where the transaction fee is less and MOTO is the kind of account suitable for online business.

But for any business to have a merchant account in order to begin with credit card processing service, there are eligibility parameters to be cleared i.e. every merchant account provider will check for the work history of the particular business as well as the current status and feedback of the company. A merchant account may provide a business with credit card facility, improved sale and good customer feedback, but before you pick up on a merchant account providing company do not forget to search well, compare the services and get a clear understanding of the fees and charges for money transaction. Also, whether the merchant account you wish to choose supports your choice of credit card or not (example: VISA, American Express and Master Card). Banks, Third Party Processor, Associations and many more such credit card processing companies offer merchant account with variety of offers and scheme.

For an ecommerce transaction, credit card processing acts as savior from all the hassle of cheque collection or payment collection from the client. Also, a credit card processing service adds to the visitor list of the site as well as boosts up the sale and ranking of the business.

Business and credit card processing makes buying and selling process easy, fast, convenient, flexible and reliable (in terms of safety for both the business owners and customers). It saves a business from a long/delayed transaction as well as from bounced/invalid cheque or draft. Similarly, the secured system behind the whole process also encourages customers to use the power of purchasing anytime, anywhere without worrying about the safety of their account. Thus, this combination of business credit card processing has become a need of changing trend and busy lifestyle.

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