Understanding Why Your Payday Loan was Denied

Payday loans are great financial instruments to get you through those hard times. However, not every will get an approval. Find out why here.

Are you wondering why your Kingston payday loan was denied? Certain reasons result in a denial despite making promises that you are able to pay the interest and principal of the loan on time.

Valid Proof of Employment
A Kingston payday loan may require less paperwork and personal information compared to traditional loans, but you still need to prove that you have a stable job that would enable you to pay for the loan. A lender will not risk lending money to someone who cannot pay it back. Make sure you have some form of employment or source of income to get an approval.

Previous Filing Application for Bankruptcy
Payday lenders do not usually run credit checks, but they still want to know the financial capability of the person they will lend money to. Bankruptcy is a red flag that raises several questions about how you manage your finances. If you filed for bankruptcy within the past year, the likelihood of denial is significantly higher. It normally takes at least one year to recuperate from financial troubles. 

Unemployment 
This is similar to the first reason, but in some cases, a lender sets a length of time for employment to approve an individual’s application for a payday loan. In most cases, creditors want their applicants to be employed at least for the past six months. You have to look for companies that allow these circumstances to approve your loan application.

Failure to Meet Net Income Requirements
Certain lenders set a monthly net income before they approve a loan application, failure to meet these requirements will result in a denial. Most payday creditors ask applicants to at least make $1000 a month. If you make less than that amount, your financial capability to pay it back becomes questionable.

Unpaid Loans
A creditor wants to make sure you have no other outstanding pay loans or returned checks because of insufficient funds. You have to pay off other loans to have your application approved.

Unable to Verify Identity
Your Kingston payday loan application might be denied if the creditor cannot verify your identity. This occurs when an applicant uses a fake ID or provides invalid personal information. Lenders will deny any applicant whose identity they cannot verify.

These reasons will reduce the likelihood of an approval; make sure you make enough money to meet requirements and not have any other outstanding loan.

One reliable Kingston payday loan provider that can offer you fast and easy payday loan application is GoDay. To qualify for a loan, it is best to find out what their requirements are.

 You can find out more about this Kingston payday loan company by visiting https://goday.ca/kingston.aspx

Save that Cheque from Bouncing with a Payday Loan

Payday loans may be the answer to your financial emergency. Find out more about how you can use payday loans here.

Mississauga payday loans can be used a number of ways. You can use it for an unexpected emergency where your on-hand cash may not be enough. You can use it simple to make ends meet until your next paycheque arrives. For some, it can be a good way to avoid a bounced check. Bounced cheques or insufficient funds for cheques may be returned and be subjected to huge penalties. It can also affect your credit score and make it even more difficult for you to get loans or other forms of financing in the future. Save that check from bouncing by applying for a payday loan.

The advantages of getting a payday loan
There are times when it is difficult to pay debts and bills because of job loss or a business slowdown. In such cases, you will need to have cash on hand to pay for expenses that you will incur at home or from your business.

If you need cash quickly, an ideal option is to get a payday loan. Mississauga payday loan companies provide you with the money you need to pay for outstanding debt or other expenses you have when you are struggling to stay afloat.

Payday loans are easy to apply for because you can get one online and get the cash you need within the day or just a few hours after getting approved. The fast access to cash gives you the time you need to put money in your bank accounts. This prevents your cheque from bouncing, keeping your credit score and paying off debt and bills immediately.

Payday loans provide you with a contingency plan for difficult financial situations. You can use the money in any way you like, whether it is paying for credit card bills or for paying utility bills.

A payday loan is also easy to apply for and get an approval because it requires fewer requirements compared to traditional loans. Mississauga payday loan companies such as GoDay only require you to be a Canadian citizen 18 years old and above, with a stable job and a bank account. The application is pretty easy and can be completed online in just five minutes. You can also get an instant decision and get the cash you need in as little as one hour. 

When it comes to usage of the funds from a Mississauga payday loan, you actually have full flexibility. In other words, you can use it anyway you want. The important aspect of payday loans is to be able to pay it off in the agreed upon date. Late payments are subject to penalties as is indicated in your loan agreement. Payday loans are meant to be short-term loans to help you out when you need it the most, as such it should ideally be paid off by your next pay period. 

To find out more about Mississauga payday loans, visit http://www.goday.ca

Post-divorce Debt Management

Divorce is an emotionally and physically gruelling endeavour for both parties. The problems get bigger when spouses start dividing their estate, especially if they did not have a pre-nuptial agreement. You have to establish and follow post-divorce debt management to move on with your life.

Divorce and Joint Debts

A couple that separates or divorces that have outstanding debt are fully liable. If you and your ex-spouse have a line of credit or credit card debt totalling $6000 before separating, you cannot evenly split the debt 50% each. From the creditor’s point of view, making that assumption is incorrect; you are both liable to pay the $6000 debt.

If you file bankruptcy to eliminate the outstanding debt the lenders cannot collect from you, but they can collect the whole amount from your ex-spouse.

You have an option to contact your bank and ask if it is possible to create two different loans, in separate accounts to pay off the joint debt before the divorce. Creating separate loan accounts enables both parties to know what they agreed to pay.

If you and your ex-spouse cannot pay the debt, both parties may file a consumer proposal or bankruptcy.

Managed Shared Accounts

Certain situations do not allow for quick refinancing or close of shared debts after divorce. Large loans and mortgages are difficult to refinance. In such cases, the divorcing parties may work together to open and manage a shared account. Keep in mind that your credit score is affected, if your ex-spouse is unable to manage the shared account.

The ideal way to manage shared debt is by creating an online account. This enables both parties to login and check the payment status of debts. If you see that there is outstanding debt for the month, contact your ex-spouse or pay the balance to avoid a lower credit score.

If you have smaller debt during your relationship that you can afford to pay off, it is best to do so quickly prior to the separation. An example of this may be payday loans. If you have a payday loan taken out during your relationship that may have been used when you were together, then it is best to settle this right away to avoid late penalties as stated in your loan agreement.

Payment troubles happen for a variety of reasons. A spouse may be intentionally delaying payments to ruin their ex’s credit score or just do not have the funds to pay on time. It is best to communicate with each other to stay on the same page when it comes to paying off the debt.

These enable you to navigate the complexities of a post-divorce debt management plan. Managing and paying off debts help you begin a new life after divorce.

Payday Loans: Getting Help During Hard Times

Payday loans provide you with the financial relief you need during times when you have difficulties paying debt and bills.

Everyone goes through hard times financially, at one time or another. It may even feel like you’re living from paycheque to paycheque and that financial relief may be a fading dream to you. However, you have an option that helps you get back on your financial feet right when you need it.

Why Get a Payday Loan?
For those in a tight financial situation, a Pickering payday loan is an ideal option because of the benefits it provides. A payday loan is unlike traditional loans because you need little to no paperwork to get your money. You only need to be at least 18 years of age, be a Canadian citizen, have a stable job and a Canadian bank account. 

Pickering payday loans have shorter payment periods compared to traditional loans. You need to pay the loan when your paycheque arrives. It gives you the time and financial relief you need to pay off outstanding debt, get you through a personal emergency or just purchase your necessities until the next pay day. 

This type of loan is also convenient and easy to get; some online payday loan provider offer you services 24/7. They can even get you instant decision your payday loan application. They might also provide you with the cash you need in as little as an hour. The quick and easy application hastens the process, you do not have to wait long to get your money.

You have no restrictions on how you can use the money; use it to pay bills or credit card debt. It is a great way to keep you afloat financially during emergencies where you may not have savings or your savings are no enough to cover things like hospitalization cost or car maintenance. As long as you pay the loan when it is due, the Pickering payday loan companies such as GoDay will make it easy for you to access the money you need. 

Plus, you can rest assured that your consumer rights are protected. Payday loan companies are regulated in Canada. There are also associations like the Better Business Bureau and Canadian Payday Loan Association that looks out for your best interest.

Payday loans in Pickering can offer you the help you need during hard times without making it hard for you to access the money you need. Find out more about Pickering payday loans by visiting http://www.goday.ca today.

How to Know You Owe Too Much

Keeping yourself in check when it comes to debt is important to have a secure financial future. Find out here if you already have too much debt.

Getting into debt is an easy task, but realizing that you are in debt and need to get out is difficult. Certain signs will tell you that it is time to put the brakes on using your credit card or paying only the minimum on your loans.

Adding to Balances Each Month
When you add to outstanding debt each month, it only means that you owe too much money to your creditors. Even if you pay bills or outstanding debt on time, you may still have debt because of interest. Avoid getting to a point that you have more debt than money coming in. 

Realizing it will take courage; you have to adjust your lifestyle to get back in the black. Cut back on luxuries and focus on necessities to pay off debt and interest over time. 

You Live from Paycheque to Paycheque
When debt consumes a huge chunk of your income, it means you are living from paycheque to paycheque. It is difficult to wait for the next paycheck just so you can pay the bills or purchase food.

You know you are tied to your paycheque when you have to borrow money from Ajax payday loans too often or use credit to buy food and pay for rent. When you reach this point, it is time for a lifestyle check and make the necessary changes to pay off debt first.

You Get Married and Realize Your Debt Doubled
Marriage is a joyous occasion, but when your spouse has the same amount of debt as you, you will have financial difficulties at the start of your married life. 

Before you marry, pay off as much debt as you can to get back in the black. You can’t control what your future spouse will do about their financial situation. However, you can do something about your debt problems before settling down.

When you marry, discuss the need to pay off debt over time with your spouse to avoid problems in the future. Many marriages end because of poor financial management and money-related problems.

Debt Payments Cost More than Your Home
Debt payments that are higher than your rent or mortgage will lead to your financial ruin. Pay off the debt by finding an extra source of income or reduce your monthly expenses. You do not want to reach the point where you have to use your home as collateral to pay for debt.

These signs are telling you to change your lifestyle to pay off debt. Reduce expenses to get back on the path to a debt-free life.

Do Your Year-end Financial Health Check

As 2015 closes, it is a great idea to do financial health check to keep yourself on-track for achieving your life-long goals.

The year is about to end, have you checked your financial health? Keeping abreast of your finances enable you to identify which parts of your spending or saving habits need improvement. You might not realize it, but your debts may be larger than your income. Certain things you do are red flags that may affect your financial future. It is ideal to do a year-end financial health check to overhaul or make minor adjustments to your goals.

Monitor Your Credit Card Spending
Credit card debt may accumulate faster than you think as small and big purchases affect the final bank statement. The interest rates and additional fees that using a credit card incurs might get you in financial trouble. Paying the minimum may provide short-term financial relief, but once you look at the big picture, you might have to pay debt this year, until next year.

The same goes with payday loans, since these are short term loans with relatively higher interest, it is best that you pay them off on time. 

Keep track of your credit card spending to determine how much debt you incur and how you can make adjustments to prevent a high bank statement once the year ends.

A Healthy Balance of Debt and Assets
Debt is not completely bad as it comes in different forms such as a mortgage to help you purchase a home or a car loan. You just need to find the right balance of debt and assets to grow your nest egg and provide you with a flexible financial situation to live comfortably.

If your debt exceeds your income, you may be in trouble. Start paying off debt before spending on luxury items and services. Paying just the minimum is not enough to reduce your debt. The principal combined with the interest rates will eat into your savings and make you worse off.

Instead of spending using your credit card, focus on diversifying your portfolio and investing in stocks, bonds or insurance. Multiple sources of income provide your savings a boost that enables you to live comfortably after retiring. A retirement plan does not start a few years before you leave the workforce; it begins decades before.

Financial Goal Achievements
Did you achieve the financial goal at the start of the year? If your answer is yes, you are in a stable situation. Setting a goal and making decisions daily to achieve it means that you are perceptive with your money. 

Goal setting keeps you focused on what you want to do with your money, and it gives you a reason to budget your expenses and savings. The goal can be as big as owning a house, buying a car, upgrading your work laptop or diversifying your investment portfolio.

Make sure to do a financial health check at the end of the year to determine if you need help or if you are doing all right.

Benefits of Using Coupons

Are you a shopper of good deals? If so, you need to get good value for money every time you shop. To get the most out of your shopping experience, search and gather coupons online.

Using coupons provide you with several benefits when you purchase things you need and want.

Big Savings

Coupons provide you with big savings in the form of discounts, two for one specials and other similar promotions. You get better value for money each time you shop for groceries, books, bags, clothes and other items.

Many online and brick and mortar stores distribute coupons to loyal customers. Sign up for their newsletter or be a frequent shopper to get good deals on the items a particular shop offers.

If you want to get good value when you shop, take advantage of coupons and the discounts and promotions they offer.

Purchase More Items

With the use of coupons, you get to buy more items when you go shopping. A coupon gets you big discounts on certain items that enable you to buy more and get better value. Are you looking for a pair of pants? You can get two with the coupons you get from a store. Do you want to buy groceries for a week? You add more days to your budget, when you take advantage of the discounts provided by coupons.

Loyalty Programs

Coupons often come with loyalty programs for consumers. By signing up for a loyalty program, you get notified whenever a promotion comes up. By being one of the first few people to know about promotions and discounts, you get access to certain items and save more money over time.

Through a loyalty program, you get to purchase particular items at a discount rather than the retail price. The discrepancy enables you to buy and save more every time you go shopping.

Shop from Home

Shopping with coupons provides you with an incentive to stay at home when you shop. Shopping from the comfort of home reduces the stress of looking for a parking space, a cab or waiting in line to pay. You also do not have to print anything out as all you need to do is input the code of the coupon you want to use.

Coupons have several advantages for shoppers looking for good value for money. Accumulate enough to save money, get more items when you shop and be the first to know about promotions.

Knowing What You Own and What You Owe

Once you start organizing your current financial situation and future, one big step you take is calculating your net worth. Your net worth is assets minus liabilities; if you sold everything, you have right now and used the money to pay debt that would be your net worth.

Some people get the surprise of their life after discovering they owe $15,000 more than they originally thought after they computed for their net worth. It is important to know this to enable you to get on the path to financial freedom.

Assets

Assets are anything that you own that has value or you can sell to improve your cash flow. You and many others have these assets:

1. Cash on hand and in the bank
2. Home
3. Furniture
4. Cars
5. Retirement and brokerage accounts
6. Cash value life insurance

These are not the only assets you may have, but these have some value. The value of your assets is not what you deem it but how much a willing buyer will pay for it. The market will dictate the price of your home or vehicle, and the other items you have as assets.

Liabilities

Liabilities are anything that take away from your cash flow and have a negative effect on your balance sheet. Some sample of these are:

1. Line of credit
2. Mortgage
3. Long-term loans
4. Payday loans
5. Credit cards

These are just a handful of the liabilities you may have, there are others that take money away from you and lose value over time.

Why It Is Important to Know Your Net Worth

After calculating, your net worth may be positive or negative.

Your net worth also helps you identify items that you own which have resale value to help you get on the path to financial freedom.

Just because you have a negative net worth does not mean you will have a bleak financial future. The computation does not consider your income earning potential. You may be thousands of dollars in the red because you went to law school, but you have a high earning potential to pay off the debt faster. 

Off-Season Shopping Equals Super Savings

Do you love shopping? If so, to save money whenever you shop, it is ideal to make purchases during off-season because of the many advantages it provides. Off-season shoppers get good value deals for the items they purchase.

Big Savings and Better Value

The biggest benefit of shopping during off-season is the savings you get. You get more out of your money because of the huge discounts that retailers offer. Instead of buying just one item, you get to purchase two or even three because of the reductions. Use the extra savings on other items that you might need, or make a budget to pay for outstanding debt.

The huge discounts enables you to shop till you drop for birthday presents, anniversaries, Christmas or whatever special occasion that might need a gift for a special someone or friend.

More Items on Sale

Off-season is when most shops want to sell their stock to make room for new ones. They want to sell the winter jackets, pants and old shirts from several months ago. This is the perfect opportunity to revamp your wardrobe for whatever occasion.

More items are on sale during off-season, giving you an opportunity to buy new outfits, even if you will not wear them for several months. The winter jacket you are eyeing might not be a good idea to wear in the summer, but if it is 70% off, it is a good deal. You save more money and get better value compared to waiting for winter.

Promotions Galore

Off-season shopping gives you several options and promotions to choose from. Are you looking for a two for the price of one special? Are you looking to get 70% for the third pair of jeans you purchased? These are just some of the promotions that might be available to you when you shop during off-season.

Stores are slashing prices and practically giving items away that are on stock for several months because they want to get rid of inventory, and replenish it with the latest designs. This is the perfect time to shop because of the many deals and discounts that are available to you.

Find the Best Deals

With the many deals in-store and online, you get to choose which place to shop to get the best value for money. Compare prices to find out which shops offer the biggest price reductions. Save more money and shop for more items when you find the best deal online or in-store.

Save Big by Comparison Shopping

After shopping, do you feel remorseful? One look at the receipts of all the purchases you made will lead to a head-scratching moment. The feeling intensifies after you receive your credit card bill at the end of the month.

There is a way for you to avoid massive debt and a huge bill after shopping. Through comparison shopping you get better value for money and save more over time.

How Comparison Shopping Saves You Money

Impulsive shoppers feel the burden of their expenses once they get their credit card bill or see the cashier light up the amount they have to pay for. To avoid the pitfall of over spending after shopping, start with comparison shopping.

Comparison shopping saves you time and effort in visiting shops or malls as you can compare prices and items you want to buy even before you leave the house.

Comparison shopping enables you to look at various products and services and determine which one offers the best deal. Compare deals and discounts online, make your computations and choose the one that saves you the most money and gets you the most items.

With the help of comparison shopping, you get to compare two or more items you want to buy but cannot make up your mind. You get to see the pros and cons of each item, making a list of their features enables you to make good choice.

Planning your shopping spree may seem like a tedious task, but it is one that will save you money over time and get you the lowest prices for the items or services you want.

The extra money you save purchasing one item, lets you purchase more things that you need or want.

You do not have to open multiple tabs or go to several websites to do comparison shopping. Some websites enable you to do the comparing hassle-free and easy. Browse through products, look at prices and compare which ones offer the best value for money.

Research about the items you want to purchase to give you an idea if they are worth their price tag. Read customer reviews to determine if the item has cons and flaws that you failed to see. Gather as much information as you can, to make the best choice and get the most value out of each dollar you spend.

Be a smart shopper by researching and doing comparison shopping to save money and get good value.

Saving on Baby Items

Having and raising a child may be expensive, but it does not have to cost you a fortune and burn a hole in your savings. Certain saving techniques will allow you some financial flexibility as your child grows.

Hospital Savings

One of the biggest expenses first-time parents will incur is the hospital bill. To save money, turn down an offer for extras when you are about to deliver. Choose a two-person room over a private one to save thousands of dollars after delivering your baby.

If the hospital allows you to take some of the toiletries home, do not pass up on this opportunity. You can get certain baby items such as diapers, swaddling cloth, nasal aspirator, disposable nipples for bottles and other items that you will need.

Cost-Conscious Attire

Once you leave the hospital, you will have to begin shopping for clothes for your little one. Avoid purchasing baby clothes in advance, as newborns may have a sudden growth spurt. You might spend on clothes your child will not be able to wear after a few months.

When shopping, shop for unisex styles and shades; you get to save more money when you use hand-me-downs, if you decide to have another child. Skip shopping for shoes that your child will outgrow in a few months. Children learn how to walk faster when they run around indoors barefoot. Purchase a pair of soft booties to keep your baby’s feet warm when you bring them outdoors.

Choose pre-owned special occasion clothes for your child, get a princess outfit or suit at a discount store instead of a branded one. You save more over time; your child will not fuss about brands at such a young age.

Save on Baby Items

When you shop for accessories and furniture for your baby, choose some that do double duty. Items such as a changing table and dresser or a high chair with a cushion that you can transform into a booster will save you money over time.

Purchase one or two bottles only before your child is born. Some babies prefer the bottles they want. You might end up with items your child does not want to use. Do not purchase crib pillows because they have no other use than being cute. These pillows may also cause SIDS or sudden infant death syndrome.

You may also want to consider buying pre-loved items. Visit mommy bazaars or community bazaars where moms sell new and used items from their grown-up kids.

Follow these baby-shopping tips to save more and still get the items you need for your little one.