accounting – Medielys http://medielys.com/ Mon, 20 Jun 2022 09:09:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://medielys.com/wp-content/uploads/2021/08/favicon-2-150x150.png accounting – Medielys http://medielys.com/ 32 32 Global Consumer and Corporate Debt Consolidation Market 2022 Company Overview, Recent Developments and SWOT Analysis 2028 – Instant Interview https://medielys.com/2022/06/20/global-consumer-and-corporate-debt-consolidation-market-2022-company-overview-recent-developments-and-swot-analysis-2028-instant-interview/ Mon, 20 Jun 2022 09:09:06 +0000 https://medielys.com/2022/06/20/global-consumer-and-corporate-debt-consolidation-market-2022-company-overview-recent-developments-and-swot-analysis-2028-instant-interview/ Global consumer and corporate debt consolidation market from 2022 to 2028 research prepared by MarketQuest.biz is the most expert and reliable knowledge and trust building, containing Market Size, Trends, SWOT, PEST, Porter’s Analysis, Forecast, 2022-2028. Based on industry-wide research, the document explains the dynamics of the parent industry. The research takes a multidisciplinary approach to […]]]>

Global consumer and corporate debt consolidation market from 2022 to 2028 research prepared by MarketQuest.biz is the most expert and reliable knowledge and trust building, containing Market Size, Trends, SWOT, PEST, Porter’s Analysis, Forecast, 2022-2028. Based on industry-wide research, the document explains the dynamics of the parent industry. The research takes a multidisciplinary approach to highlight prospective market pathways and unmet prospects. Our specialists conducted a thorough examination of the competitive environment and anticipated the strategic framework used by market players.

The overview includes data and figures on market dynamics. It also discusses the global consumer and corporate debt consolidation market including its volume and size. The study is provided solely to give an orderly examination of the complex and vast facts of the market. Additionally, the growth and restraint segment has shed light on potential opportunities and restraints in the market.

DOWNLOAD A FREE SAMPLE REPORT: https://www.marketquest.biz/sample-request/111268

The report also includes the segment namely:

The information also includes the element namely:

The main players in the personal and corporate debt consolidation market are:

  • Goldman Sachs
  • OneMain Financial
  • Discover personal loans
  • loan club
  • Pay
  • Debt Relief Freedom
  • National debt relief
  • Rescue One Financial
  • ClearOne Advantage
  • New era debt solutions
  • Pacific Debt
  • Approved Debt Relief
  • CuraDebt Systems
  • Guardian Debt Relief
  • Debt negotiation services
  • First Debt Help
  • Oak View Legal Group

The study examines the industry’s most important geographic locations, such as:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
  • South America (Brazil, Argentina, Colombia and rest of South America)
  • Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and Rest of Middle East and Africa)

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The main findings of the report:

  • A detailed examination of the regional landscape of the Consumer and Business Debt Consolidation Market
  • Identifying the Competitive Landscape of Consumer and Business Debt Consolidation Market
  • Other study findings will impact the consumer and business debt consolidation market pay scale.
  • The study also provides statistics on market share gained by product type sector, profit valuation and production growth.

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Further consolidation expected for the Malaysian stock market https://medielys.com/2022/06/16/further-consolidation-expected-for-the-malaysian-stock-market/ Thu, 16 Jun 2022 23:30:59 +0000 https://medielys.com/2022/06/16/further-consolidation-expected-for-the-malaysian-stock-market/ (RTTNews) – The Malaysian stock market has finished higher on two of the three trading days since ending an eight-day losing streak in which it lost more than 100 points or 6.9%. The Kuala Lumpur Composite Index is now just above the 1,470-point plateau, although it is expected to head south again on Friday. Global […]]]>

(RTTNews) – The Malaysian stock market has finished higher on two of the three trading days since ending an eight-day losing streak in which it lost more than 100 points or 6.9%. The Kuala Lumpur Composite Index is now just above the 1,470-point plateau, although it is expected to head south again on Friday.

Global forecasts for Asian markets suggest further consolidation amid global recession fears. European and American markets ended with heavy losses and the Asian stock market should also open in the red.

KLCI ended slightly higher on Thursday after gains in financials and telecoms, while plantings were mixed and glovers down.

For the day, the index advanced 13.72 points or 0.94% to end at 1,472.77 after trading between 1,461.94 and 1,476.02. The volume was 2.476 billion shares worth 1.840 billion ringgit. There were 556 rejections and 392 winners.

Among assets, Axiata strengthened 1.09%, while CIMB Group rose 1.21%, Dialog Group fell 1.89%, Digi.com rose 0.93%, Genting fell 1. .07%, Hartalega Holdings fell 4.03%, IHH Healthcare climbed 2.42%, INARI climbed 1.53%. , IOI Corporation slipped 1.23%, Kuala Lumpur Kepong rose 0.17%, Maybank reaped 1.04%, Maxis rose 1.23%, MISC jumped 2.68%, MRDIY gained fell 1.65%, Petronas Chemicals gained 1.05%, PPB Group gained 0.38%, Press Metal accelerated 1.86%, Public Bank rose 1.56%, RHB Capital jumped 1 .74%, Sime Darby gained 0.94%, Sime Darby Plantations fell 1.30%, Telekom Malaysia climbed 2.61%, Top Glove plunged 3.47% and Genting Malaysia and Tenaga Nasional are remained unchanged.

Wall Street’s advance is broadly negative as major averages opened sharply lower on Thursday and remained deep in the red throughout the day, ending near session lows.

The Dow Jones fell 741.46 points or 2.42% to end at 29,927.07, while the NASDAQ plunged 453.06 points or 4.08% to close at 10,646.10 and the S&P 500 fell 123.22 points or 3.25% to end at 3,666.77.

The sell-off on Wall Street reflected fears that aggressive monetary policy by central banks around the world could trigger a global recession.

Following the widely expected 75 basis point interest rate hike from the Federal Reserve on Wednesday, central banks in Switzerland, England and Taiwan, among others, also moved to hike rates.

In economic news, the Labor Department noted a slight decrease in first jobless claims in the United States last week. Additionally, the Commerce Department said new residential construction in the United States plunged more than expected in May.

Oil futures stabilized higher on Thursday after prices rebounded as tight supply levels outweighed worries about the outlook for energy demand. West Texas Intermediate crude oil futures for July ended up $2.27 or 2% at $117.58 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Continued consolidation expected for Thai stock market https://medielys.com/2022/06/14/continued-consolidation-expected-for-thai-stock-market/ Tue, 14 Jun 2022 02:30:12 +0000 https://medielys.com/2022/06/14/continued-consolidation-expected-for-thai-stock-market/ (RTTNews) – Thailand’s stock market has finished lower in consecutive sessions, losing more than 40 points or 2.5% along the way. The Stock Exchange of Thailand now sits just above the 1,600-point plateau and is eyeing another small advance for Tuesday’s trade. The overall forecast for Asian markets is broadly negative due to fears of […]]]>

(RTTNews) – Thailand’s stock market has finished lower in consecutive sessions, losing more than 40 points or 2.5% along the way. The Stock Exchange of Thailand now sits just above the 1,600-point plateau and is eyeing another small advance for Tuesday’s trade.

The overall forecast for Asian markets is broadly negative due to fears of an economic slowdown and worries about the outlook for interest rates. European and American markets were down sharply and Asian markets should follow suit.

The SET ended sharply lower on Monday with damage across the board, especially among financials and energy producers.

For the day, the index fell 32.56 points or 1.99% to end at 1,600.06 after trading between 1,599.34 and 1,616.31. The volume was 20.533 billion shares worth 73.466 billion baht. There were 1,769 declines and 301 gains, with 146 stocks remaining unchanged.

Among the assets, Advanced Info fell 0.48%, while Thailand Airport fell 0.73%, Bangkok Bank slipped 1.12%, BTS Group fell 1.18%, CP All Public lost lost 2.76%, Charoen Pokphand Foods fell 0.95%, Energy Absolute fell 2.27%, Gulf fell 2.20%, IRPC cratered 2.86%, Kasikornbank lost 1, 67%, Krung Thai Bank fell 1.27%, Krung Thai Card fell 2.45%, PTT Oil & Retail fell 3.70%, PTT fell 2.67%, PTT Global Chemical fell 4.23%, Siam Commercial Bank fell 3.14%, True Corporation fell 1.73%, TTB Bank fell 1.57% and Banpu, Bangkok Dusit Medical and PTT Exploration and Production remained unchanged.

Wall Street’s advance is brutal as the major averages opened sharply lower on Monday and only worsened as the day wore on, ending deep in the red.

The Dow Jones fell 876.05 points or 2.79% to end at 30.516 billion baht, while the NASDAQ plunged 530.80 points or 4.68% to close at 10,809.23 and the S&P 500 fell 151.23 points or 3.88% to close at 3,749.63.

The extended selloff on Wall Street reflects lingering concerns about inflation and the outlook for interest rates after last Friday’s report showed rising consumer prices.

The Federal Reserve is expected to announce its latest monetary policy decision on Wednesday, with the central bank set to continue raising interest rates in a bid to fight inflation.

With Fed rate hikes widely anticipated for months, traders seem increasingly worried that a tightening in monetary policy could trigger a period of stagflation or an outright recession.

Crude oil futures rebounded from early losses and edged higher on Monday as global supply concerns outweighed demand worries. West Texas Intermediate crude oil futures for July ended up $0.26 or 0.2% at $120.93 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Student Loan Consolidation vs Refinancing – Forbes Advisor https://medielys.com/2022/06/08/student-loan-consolidation-vs-refinancing-forbes-advisor/ Wed, 08 Jun 2022 23:57:00 +0000 https://medielys.com/2022/06/08/student-loan-consolidation-vs-refinancing-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. For student borrowers, student loan consolidation and refinancing are two ways to manage payments if you have multiple loans. Although these strategies are similar, they have important differences and caveats. If you’re […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

For student borrowers, student loan consolidation and refinancing are two ways to manage payments if you have multiple loans. Although these strategies are similar, they have important differences and caveats.

If you’re thinking about consolidation versus refinancing, make sure you know the distinctions before submitting an application.

Consolidation vs Refinancing

Even though consolidation and refinancing have many similarities, they differ in some key points.

How does student loan refinancing work?

Student loan refinancing involves taking out a new private student loan to pay off your current student loans. Your refinanced loans will have a new interest rate and new repayment terms. Once your old loans are closed, you will start making monthly payments on the new loan.

Benefits of Student Loan Refinancing

  • Possibly lower interest rate. If you have good or excellent credit, you may qualify for a refinanced loan with a lower interest rate than you are currently paying. The lower your interest, the less you will pay over the total term of your loan.
  • Combine your loans into one easy payment. If you have multiple student loans, keeping track of your various interest rates and maturity dates can become overwhelming. Refinancing means you can combine multiple student loans into one easy payment each month.
  • Change loan servicer. If you are unhappy with your current loan officer, the only way to transfer your debt to another company is to refinance your student loans. With good or excellent credit, you can compare many different lenders and compare which ones offer the best interest rate, repayment terms, and lowest fees.

Disadvantages of Student Loan Refinancing

  • Lower interest is not guaranteed. Even if you qualify for a refinance, you might not qualify for a better interest rate than the one you are currently paying.
  • Lose federal protections. If you refinance your federal loans, you will lose access to all federal protections and benefits, including income-based repayment plans, more flexible forbearance, and public service loan forgiveness (PSLF).
  • A credit check is required. Refinancing requires a rigorous credit check. If you don’t have a strong credit history, you may not qualify without the help of a co-signer. And if you do, you might not get the full amount you asked for or the lowest interest rate available.

How to Apply for Student Loan Refinance

Refinancing can only be done through private lenders like banks, credit unions, and online lenders. If you are looking to refinance, consider the following:

1. Clean up your credit

Before looking at lenders, check your credit score so you know where you stand before submitting a loan application. If your score is lower than you would like, take steps to improve your credit before you begin the refinancing process.

2. Compare lenders

Once your credit is in order, you can compare refinance lenders and look for the best rates. Student loan refinancing requirements are not universal; make sure you are eligible with each lender based on your creditworthiness, the amount you wish to borrow, and your graduation status (some lenders do not offer student loan refinance to those who do not have no degree).

You should also review what each lender offers in terms of interest rates, repayment terms, and fees. If possible, complete a prequalification to see which lenders you might be compatible with.

3. Complete an application

Once you’ve selected a few top lenders, prequalify with them if you can. This process allows you to view estimated rates and terms for which you may qualify. If everything looks good, complete an application with each lender and wait for approval. Many lenders approve you in minutes while others may require more paperwork to complete your application.

Once you are approved, you will receive the final loan terms and conditions. Review the documents and submit the final signed forms to your lender.

4. Pay your new lender

Your new lender usually repays your old loans directly. It is important to continue paying your current loans until your new lender notifies you that they have been paid. Falling behind could make your loans delinquent before the refinance is completed, so be sure not to delay the process by missing payments.

How does student loan consolidation work?

Student loan consolidation involves taking out a consolidation loan directly from the US Department of Education and consolidating all of your federal student loans into one. Your new interest rate will be the average rate of your current loans, rounded to the nearest eight percent.

Benefits of Student Loan Consolidation

  • Combine multiple student loans into one. Consolidating your debt combines several student loans into one. This means that you will only have one payment to worry about each month.
  • Access to certain federal benefits. Depending on the type of student loans you have, consolidating them can help you access additional federal benefits. For example, borrowers with parent PLUS loans must consolidate their debt to access income-contingent repayment or forgiveness of government loans.
  • No credit check required. Like most other federal student loans, a credit check is not required to consolidate your debt. This means you can qualify even with bad credit.
  • Longest repayment terms offered. Direct consolidation loans have repayment terms of up to 30 years, which is longer than most private lenders. A longer repayment window will lower your monthly payment, but increase the total amount of interest you pay on the loan.

Disadvantages of Consolidating Student Loans

  • Only federal loans are eligible. You cannot consolidate student loans that you have obtained from private lenders.
  • It makes up exceptional interest. When you consolidate student debt, any unpaid interest becomes part of the principal balance. This means that you may be charged additional interest on your new higher balance.
  • Potential loss of certain federal benefits. Consolidation may negatively affect some of your existing federal benefits. For example, people enrolled in an income-driven repayment plan will lose credit for any payments you made before consolidation, which will delay your eligibility for loan forgiveness. Other borrowers may lose certain interest rate reductions or benefits in the event of loan cancellation.

How to Apply for Student Loan Consolidation

To apply for student loan consolidation, you will need to ensure that you are registered on the Federal Student Aid website. You will need:

  • A valid federal student aid ID card
  • Personal data such as your address, telephone number and email
  • Financial information, including details of your current loans and repayment plans

Before completing the application, review the loans you want to consolidate. Many people choose to consolidate all of their federal loans together, but depending on the types of debt you have, you may choose to consolidate only a portion of your loans.

The online application process should take around 30 minutes and no co-signer is required.

Refinancing vs. Consolidation: How to Decide Which is Better

Not everyone can or should refinance their student loans, and not all borrowers are eligible for consolidation.

You may consider refinancing your student loans if:

  • You have excellent credit. If you have good credit, you’re well on your way to not only qualifying for a refinance, but also accessing some of the lowest interest rates available. If you can’t lower your interest rate or receive other tangible benefits with your new loan, it’s probably not worth refinancing.
  • You have private student loans. Since federal student loans come with additional benefits and protections, refinancing these debts carries more risk. But if you have private student loans, you don’t have much to lose if you refinance, especially if you can save interest in the process.
  • You are not in a federal reimbursement program. Refinancing means you will lose federal protections, like more flexible forbearance, income-driven repayment plans, or federal forgiveness programs. If you don’t use these benefits (and won’t need them in the future), refinancing might be worth it.

You could consolidate your student loans if:

  • You only have federal student loans. Direct consolidation loans are only eligible for federal student loan borrowers.
  • You want to simplify payments. Since consolidation combines multiple federal loans into one, it can simplify the monthly payments you need to keep up with.
  • You want to reduce your monthly payments. Since direct consolidation loans have long repayment terms, up to 30 years, you can lower your monthly payment by consolidating. However, note that reducing your monthly payments usually results in an increase in interest paid over the life of the loan.

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Budget focused on fiscal consolidation and sustaining growth: Miftah Ismail – Pakistan https://medielys.com/2022/06/07/budget-focused-on-fiscal-consolidation-and-sustaining-growth-miftah-ismail-pakistan/ Tue, 07 Jun 2022 12:14:39 +0000 https://medielys.com/2022/06/07/budget-focused-on-fiscal-consolidation-and-sustaining-growth-miftah-ismail-pakistan/ Finance Minister Miftah Ismail said on Tuesday that the Pakistani government has prepared a phased budget that will focus on fiscal consolidation while supporting GDP growth and controlling inflation. Addressing the “Pre-Budget Seminar on Business, IT and Agriculture” in Islamabad, he said Pakistan would reduce its budget deficit to 5% from the current 8-9% while […]]]>

Finance Minister Miftah Ismail said on Tuesday that the Pakistani government has prepared a phased budget that will focus on fiscal consolidation while supporting GDP growth and controlling inflation.

Addressing the “Pre-Budget Seminar on Business, IT and Agriculture” in Islamabad, he said Pakistan would reduce its budget deficit to 5% from the current 8-9% while the economy will grow by 4-6%.

“Additionally, a targeted subsidy for poor sections of society will be announced,” he said. “We will cover nearly a third of Pakistanis in the grant.”

Government to prioritize agriculture and exports in next budget: Miftah

“GDP growth is not difficult”

He pointed out that GDP growth was not difficult for Pakistan given the population growth of 2.5%, but noted: “As soon as we reach 4.5-5% growth, we run into to a current account deficit. When the current account deficit increases, the economy dries up and the low income group loses jobs.

Therefore, the country’s growth model is flawed, he said.

“Our problem is low exports”

He also noted that the State Bank of Pakistan’s Temporary Economic Refinancing Facility (TERF) benefits the wealthy class and supports imports.

“Besides the import of machinery, shipments of consumer goods have also increased,” he said, lamenting that Pakistan only focuses on import substitution and completely ignores export promotion.

Miftah assures jewelers to provide maximum tax relief

Giving examples, he said that East Asian countries have developed through export promotion and the government also wants to implement this model in Pakistan.

“Our problem is not massive imports, it’s weak exports,” he said. “Nearly 80% of manufacturing is for domestic consumers and only 20% for export purposes.

Citing figures, he said the country consumed 3.5 million tonnes of edible oil, the price of which skyrocketed in the world market.

He expressed concern that imports of edible oils from Pakistan could cost $8 billion next year if the world price does not fall.

“I have requested foreign companies to start exporting from Pakistan and in return we will ensure regionally competitive export tariffs,” he said.

Financial and economic progress: Miftah Ismail welcomes the contribution of the Bank of China

Current account deficit

Talking about the achievements of the government, he said Pakistan has re-engaged with China, Saudi Arabia, UAE and other countries for help. China renewed a $2.4 billion loan at a reduced interest rate, he said, adding that the rescheduling was withdrawn at the end of March 2022.

Saudi Arabia will also renew its loan in December 2022 and the country is also expected to increase its oil credit line by $100 million to $200 million.

He cited that the current account deficit will rise to $12 billion next year. “We can reduce it further, but that will slow down the economy,” he said.

Furthermore, he predicted that the foreign exchange reserves of the State Bank of Pakistan will reach $12 billion in the coming days when China transfers money to Pakistan.

Miftah advocates a strict monetary policy

“Reserves are expected to increase by $8 billion next year to $18 billion,” he said. He said raising the price of fuel by Rs60 was a difficult but necessary decision.

The PTI had agreed with the IMF to impose a tax of 30 rupees on petrol and diesel and to impose a sales tax of 17%. This would have raised the price of petrol to Rs 300 per litre, he said.

State of the economy

Miftah said that when Prime Minister Shehbaz Sharif took office, Pakistan had the third highest inflation among all major economies in the world.

“Over the past four years, 20 million people have fallen into poverty while 600,000 have found themselves unemployed,” he said. “Each year, 1.8-2 million people join Pakistan’s labor market and economic growth of 5-6% can absorb them.”

Pakistan’s FY22 debt stands at 5.6 trillion rupees and current leaders are working to reduce it to 5.2-5.3 trillion rupees.

Panicked traders step up purchases of Indian rice after wheat export ban

“We left a debt of 1.65 trillion rupees a year in deficit, but the previous government increased it by 3.5,” he said. “Pakistan reached an agreement with the International Monetary Fund (IMF) last December and signed an agreement in February which promised a primary deficit of 25 billion rupees. In reality, it will amount to 1.33 trillion rupees, or 5,400% less.

He pointed out that Pakistan’s Tehreek-e-Insaf government had taken out loans worth Rs.5.18 trillion in almost four years, while the previous PML-N government had taken out Rs. 5 years. He said that from 2013 to 2018, the government of Pakistan used debt to establish power stations, LNG terminals and highways and develop Gwadar.

PML-N left 1.06 billion rupees of circular debt in the electricity sector, which has jumped to 2.5 billion rupees now, he said. Also, there was no circular debt in the gas sector and today a debt of Rs 1.5 billion exists in this respect, Ismail said.

“The electricity sector will be devastated if we do not undertake vital reforms,” ​​he said.

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How Small Businesses Can Benefit From Debt Consolidation https://medielys.com/2022/06/03/how-small-businesses-can-benefit-from-debt-consolidation/ Fri, 03 Jun 2022 07:33:39 +0000 https://medielys.com/2022/06/03/how-small-businesses-can-benefit-from-debt-consolidation/ Small businesses in Nigeria and all over the world are grappling with the problem of refinancing their already existing loans. Not only that, in tough business environments like Nigeria, many small businesses have had to take out loans in order to keep the business afloat. It sounds like a good idea in the short term, […]]]>

Small businesses in Nigeria and all over the world are grappling with the problem of refinancing their already existing loans. Not only that, in tough business environments like Nigeria, many small businesses have had to take out loans in order to keep the business afloat.

It sounds like a good idea in the short term, but macro-economic factors like inflation, which generally increase the cost of sales for these small businesses and ultimately make it difficult for these businesses to repay their loans. This is because they are small, which means they have very little leeway to pass their costs on to their customers without risking losing them to other alternative services or products or to a larger competitor who owns a very well established market share. This then affects their potential profits which would have been used to refinance their loans.

That is why in a country like Nigeria, in addition to getting loans from loan sharks, who give loans with high repayments to their customers and not to mention the recent trend of how these platforms share the personal information of those who have defaulted on their payment obligations. general public with the aim of embarrassing them to repay their loans, it is quite difficult to obtain loans at reasonable prices from banks and microfinance banks.

As a small business owner who has now taken various loans from different sources, it becomes very difficult to keep track of all this. Here’s why debt consolidation is very important for small business owners to know.

What is debt consolidation?

Debt consolidation is a smart financial strategy for small business owners who have incurred multiple debts from different sources. Consolidation merges multiple bills into one debt that is paid off monthly through a debt management plan or consolidation loan.

Debt consolidation lowers the interest rate on your debt and lowers monthly payments. This debt relief option unravels the mess that business owners face every month trying to cope with multiple bills and multiple deadlines from multiple card companies. In its place is a simple remedy; single-source payment, once a month.

How it works

Debt consolidation is the use of different forms of financing to pay off other debts and liabilities. If you are struggling with different types of debts, you can apply for a loan to consolidate these debts into one liability and pay them off. Payments are then made on the new debt until it is fully paid off.

Most people apply for a debt consolidation loan through their bank, credit union, or credit card company. It’s a good place to start, especially if you have a great relationship and payment history with your institution. If you are denied, try exploring private mortgage companies or lenders. Creditors are also willing to do so for several reasons.

For the borrower, debt consolidation maximizes the probability of collection from a debtor. These loans are usually offered by financial institutions such as banks and credit unions, but there are other companies that specialize in debt consolidation services that offer these services to the general public.

An important point to note is that debt consolidation loans do not erase the original debt. Instead, they simply transfer a consumer’s loans to another lender or type of loan. For true debt relief or for those who do not qualify for loans, it may be best to consider debt settlement rather than or in conjunction with a debt consolidation loan.

Going deeper, there are two major types of debt consolidation loans; secured and unsecured loans. While secured loans are backed by one of the borrower’s assets, such as a house or car, unsecured loans, on the other hand, are not asset backed and can be more difficult to obtain. Unsecured loans also tend to have higher interest rates and lower qualifying amounts. Regardless of the type of loan, interest rates are always generally lower than the rates charged on credit cards. And in most cases, the rates are fixed, so they do not vary over the repayment period.

Why it matters to you and your business

Debt consolidation is a great tool for people who have multiple debts with high interest rates or monthly payments, especially for those who owe N10 million or more. By negotiating one of these loans, you can enjoy one monthly payment instead of multiple payments, not to mention a lower interest rate.

As long as you don’t incur any additional debt, you can also expect to be debt free sooner. Going through the debt consolidation process can reduce calls or letters from collection agencies, as long as the new loan is kept up to date.

However, it’s important to remember that while the interest rate and monthly payment may be lower on a debt consolidation loan, its payment schedule may be another Pandora’s box you don’t want to open. Indeed, longer payment schedules mean paying more in the long run.

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Best Debt Consolidation Loans for Bad Credit of 2022 – Forbes Advisor https://medielys.com/2022/06/02/best-debt-consolidation-loans-for-bad-credit-of-2022-forbes-advisor/ Thu, 02 Jun 2022 19:13:00 +0000 https://medielys.com/2022/06/02/best-debt-consolidation-loans-for-bad-credit-of-2022-forbes-advisor/ A debt consolidation loan for bad credit may not be the best choice for everyone. If your credit is preventing you from qualifying for a lower interest rate than you are currently paying, you may want to consider the following alternatives to debt consolidation. Improve your credit first Good credit has many benefits, including the […]]]>

A debt consolidation loan for bad credit may not be the best choice for everyone. If your credit is preventing you from qualifying for a lower interest rate than you are currently paying, you may want to consider the following alternatives to debt consolidation.

Improve your credit first

Good credit has many benefits, including the ability to qualify for better financing. If you aren’t able to get an attractive interest rate on a debt consolidation loan right now, working to improve your credit might give you more options in the future.

When creating your credit improvement plan, remember: You may want to adjust your approach depending on whether you are building credit from scratch or working to rebuild damaged credit. Either process can take time, but getting better credit can make your hard work worthwhile in the long run.

Use a debt repayment strategy

If you have some wiggle room in your monthly budget, a debt repayment strategy might be right for you. Do-it-yourself strategies like the snowball or debt avalanche method lead you to restructure how you pay down your debt each month. Ultimately, each approach has the potential to save you time and money in the debt elimination process.

Get professional help

Credit card debt and other high interest debt can sometimes spiral out of control. If you’re struggling to meet minimum payments on your monthly credit obligations, it might be time to talk to a financial professional about your situation.

A non-profit credit counseling company may have solutions that could help you, including a debt management plan. In extreme cases, you may even want to seek advice from a bankruptcy attorney regarding plans that can provide you with protection from your creditors.

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Consolidation in Indian real estate: fad or reality? https://medielys.com/2022/05/29/consolidation-in-indian-real-estate-fad-or-reality/ Sun, 29 May 2022 10:58:50 +0000 https://medielys.com/2022/05/29/consolidation-in-indian-real-estate-fad-or-reality/ Being a frequent business traveler in Pune, I walk past a project under construction; this project was developed at a snail’s pace before. But over the past year, everything suddenly changed and the project was completed at an extremely rapid pace. When I looked closer, I saw the name of a top enterprise developer on […]]]>

Being a frequent business traveler in Pune, I walk past a project under construction; this project was developed at a snail’s pace before. But over the past year, everything suddenly changed and the project was completed at an extremely rapid pace. When I looked closer, I saw the name of a top enterprise developer on the co-branded palisade!

I learned from the site in charge that the previous developer was unable to build on schedule due to lack of funds coupled with almost zero sales and the same project showed tremendous speed after acquisition . And, there are many such projects with similar stories in most cities.

So what exactly has changed in the last 6-7 years in Indian real estate? Is serious consolidation taking place in the RE space or is it just a passing fad?

Let’s analyze the story of 2015

Prior to 2015, there were no barriers to entry into real estate, liquidity was readily available, and sales were easy to make. Anyone who owned a piece of land would go into development given the high margins it offered. There was nothing called compliance, customer focus or business discipline. The biggest loser in this chaos was the end customer!

From 2016, through various policy measures such as GST reforms, Benami property law, housing for all and RERA compliances, the government has taken positive medium-term steps to bring about structural change in the area.

While demonetization and RERA drastically reduced the “cash” portion of real estate transactions, the Benami Property Law ensured that landholdings are well defined and the involvement of the underground economy and illegal sources is reduced.

While these measures were good on paper in the short term, in the medium term they have become major deterrents for entry into India’s property ecosystem.

The tightening of the renewable energy ecosystem due to the reforms has ensured the following –

1. Customers have become more informed about developers and the status of specific projects

2. Institutional lenders began to do more due diligence when lending, cutting short the flow of funds to unruly developers

3. Land prices have stabilized in all geographic areas. Arbitrage in land development has declined, as have overall price movements in house prices

After the ILFS fiasco and defaults from other top lenders like Indiabulls, Altico Capital and DHFL, the lending space in real estate has suddenly tightened. Paradigm

The loan change came about 6 months before Covid19 when financial indiscipline and slow sales led to developers failing to repay.

Lenders have begun to tighten the noose, strengthen legal agreements and increase due diligence. It has become increasingly difficult for small developers (i.e. landowners) to raise capital.

The Covid19 pandemic has caused further problems for frivolous developers, as construction and sales have come to a complete halt and the cost of debt has reached unprecedented levels. As established developers rethink their upcoming projects and financial models while seeking help from existing lenders, smaller ones have had to look for another recourse.

The second wave was the final nail in the ecosystem’s coffin. Despite government measures on GST, stamp duty and interest rates, many have not been able to recover. There has been a constant consolidation of the ecosystem on all fronts.

In the developer community, “weaker” developers seek to monetize their assets either by selling the land or projects entirely to more capable developers or by entering into a joint venture with them. There have been many cases of such acquisitions across the country. Apart from bailing out the existing developer, these M&A deals also unlock the financing potential of the project. The new developer, with its good credit history, is able to seek debt/project financing on much better terms from institutional lenders.

Additionally, the stronger developer is able to streamline costs through better management of suppliers and raw materials at more competitive prices.

When blocked projects are larger, corporate developers step in, in various forms. Either they buy up large tracts of land, as they did in the suburbs of Thane from MMR (Tata, Oberoi, Godrej, Mahindra, Raymond, L&T Realty, etc.), or they enter into joint development agreements with the existing promoters. In some cases where the incumbent has construction strength but no sales and marketing prowess, these companies enter into a specific agreement where the entire sales of the project is handled by them.

While few big players will continue to cross borders and have footprints in different cities (Prestige, Adani, Tata), the local micro-market flavor will continue to hold with a number of good players operating in a specific market.

On the side of institutional lenders too, considerable consolidation has taken place in which few players have bought the outstanding loan book of a few lending institutions in industry-wide securitization transactions.

Real estate support services are not immune to these dynamic changes either. Whether in real estate brokerage, or in project management, in material supply companies, or in investment banking, the bottom of the economic cycle has left all of the weaker players stranded and forced to close their doors.

As global equity and technology permeate India’s renewable energy ecosystem, all these consolidations are not short-term fads but long-term permanent shifts. Many aspects of the RE business have gone digital, from sales (digital prospecting) to home loan disbursements. From design to construction technology, everything is in line with the rationalization of resources and the implementation of green technologies. In all of these initiatives, the system has created a barrier to entry and costs of exit – which will deter the frivolous.

This consolidation is surely a fact that will remain for a long time in the Indian RE space!



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Disclaimer

The opinions expressed above are those of the author.



END OF ARTICLE



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How Debt Consolidation Loans Work https://medielys.com/2022/05/20/how-debt-consolidation-loans-work/ Fri, 20 May 2022 07:00:00 +0000 https://medielys.com/2022/05/20/how-debt-consolidation-loans-work/ Debt consolidation is the consolidation of several debts into a single loan with a single monthly payment and a single interest rate (hopefully lower). This can help you stay organized and possibly save money, especially when you have a lot of debt and you don’t seem to be making any progress in paying off what […]]]>

Debt consolidation is the consolidation of several debts into a single loan with a single monthly payment and a single interest rate (hopefully lower). This can help you stay organized and possibly save money, especially when you have a lot of debt and you don’t seem to be making any progress in paying off what you owe.

However, not all debt consolidation loans are the same. Understand how they work and weigh the pros and cons of these loan products before deciding if they are right for you financially.

What is a debt consolidation loan?

A debt consolidation loan is a way to refinance your debt. You will apply for a loan for the amount you owe on your existing debts and, once approved, you will use the funds to pay off your outstanding debts. Then you will repay the new loan over time.

When choosing a debt consolidation loan, you will need to assess features such as:

  • Type of loan: The most common types of loans include personal loans, credit cards with a 0% initial APR, 401(k) loans, and home equity loans.
  • Loan conditions : The loan amount, interest rate, and loan term depend on the type of loan you get and your financial health.
  • Secure versus insecure: With a secured loan, you must post collateral. For example, a home equity loan is secured by your home. If you are late in payment, the lender can take this security to settle your outstanding balance. If you don’t want to risk your assets, consider sticking with your unsecured options, such as personal loans and 0% APR credit cards.

How does a debt consolidation loan work?

Most debt consolidation loans are fixed rate installment loans, which means the interest rate never changes and you make a predictable payment each month. So if you have three credit cards with different interest rates and minimum payments, you can use a debt consolidation loan to pay off those credit cards, leaving you with one monthly payment to manage instead of three.

Let’s say you are paying off credit card debt. Here’s how a debt consolidation loan can help you save on interest charges:

  • Card 1 has a balance of $5,000 with an APR of 20%.
  • Card 2 has a balance of $2,000 with an APR of 25%.
  • Card 3 has a balance of $1,000 with an APR of 16%.

If you pay off those credit card balances over 12 months, your interest charges would be $927. But let’s say you take out a 12-month personal loan for the amount you owe – $8,000 – with an APR of 10%. If you pay off the loan in one year, you reduce the interest charges to just $440. To calculate savings on your own debt, try using a credit card repayment calculator and a personal loan calculator.

Benefits of a debt consolidation loan

If you’re looking to save money, streamline your monthly payments, and circle the payment date on your calendar, debt consolidation may be right for you. Here is a breakdown of the main benefits:

  • Pay off your debts faster. Making the minimum payment on your credit cards can stretch your repayment schedule for years. A debt consolidation loan can put you on the path to faster repayment.
  • Save on interest charges. Generally, if you qualify for a lower rate than you are currently paying, you will save money on interest charges. Since the beginning of May 2022, the average credit card interest rate was 16.41%, compared to the average personal loan rate of 10.28% in January 2022.
  • Simplify your monthly payments. It’s easier to manage one monthly payment than multiple payments with different due dates. This reduces your chances of missing payments, which is good for your credit.
  • Repay on a fixed schedule. Many debt consolidation loans are fixed payment loans, which means you’ll know exactly when you’re debt free. It can help motivate you while you pay off your debts.

Risks of a debt consolidation loan

You will need to weigh your immediate needs against your long-term goals before moving forward. Some people choose to consolidate their debt to save money and organize their monthly payments, but there are downsides to consider.

  • This will not solve all your financial problems. Once you’ve used the debt consolidation loan to pay off your debt, you might be tempted to start using your credit cards again. This increases your overall debt, which can impact your credit and make it harder to pay off your balances.
  • There may be an initial charge. Some debt consolidation loans come with fees, including origination fees, balance transfer fees, prepayment penalties, annual fees, and more. Before you take out the loan, ask the lender if any of these apply.
  • You can pay more interest. This can happen in two ways. Depending on your credit score, debt-to-income ratio, and loan amount, you may pay a higher interest rate than you would have paid on the original debt. Or, if you use the debt consolidation loan to lower your monthly payments by extending your repayment term, you may end up paying more interest in the long run.

Debt Consolidation Loan Interest Rates

When you pay off a debt consolidation loan, you’re not only paying back the amount you borrowed, you’re also paying an extra amount each month in the form of interest. Interest rates on debt consolidation loans generally range from 5.99% to 35.99%. A higher interest rate will cost you more over the life of the loan than a lower interest rate. Each lender has different criteria for setting rates, so shopping around can help you find the best deal.

Typically, lenders check these factors when deciding if you qualify and setting your interest rate:

  • Your credit score: Borrowers typically need a credit score in the mid-600s to qualify for a debt consolidation loan, and a higher score can help you get a lower interest rate.
  • Your DTI ratio: Your debt-to-income ratio (DTI) tells lenders how much of your monthly income is spent paying down debt. Lenders tend to look for a lower DTI ratio.
  • Revenue: The lender will verify your employment and verify that you earn enough to make payments.

If you don’t quite meet the credit requirements, you may be able to find a lender willing to give you a loan, even if you can get a higher interest rate. If this is your situation, consider adding a co-signer to the loan. This person promises to take over the payments if you fall behind. She must therefore understand what this implies before saying yes.

How to Apply for a Debt Consolidation Loan

There’s a bit of legwork involved, but it will pay off if a debt consolidation loan saves you money. Start by applying for your credit, comparing quotes from multiple lenders, and checking your chances of getting approved for a loan.

  • Understand your finances. A good credit rating gives you a better chance of qualifying for a debt consolidation loan and getting a good interest rate. Check your credit rating before applying to see if it needs work.
  • Compare lenders’ terms. Searching for the best deal can help you save money on debt consolidation. Get quotes from multiple lenders and compare interest rate, fees, loan term and monthly payment.
  • Get prequalified. Some lenders offer prequalification, which gives you an idea of ​​the type of offers you might receive. Many can only complete a simple credit application, which means prequalifying won’t affect your credit score.
  • Gather what you need to apply. When applying for a debt consolidation loan, you may need your social security number and contact information, an estimate of your monthly debts, and a pay stub and employer information to prove your revenue.

Once you are approved, the lender can disburse your loan proceeds to your creditors or send the funds to you. Make sure the original debt is paid off, then get to work on your new loan. Set up automatic payments or use reminders to make payments on time each month. Over time, you will be debt free.

At the end of the line

You may be able to pay off your debt balances much sooner and save a lot of money with a debt consolidation loan. You’ll also enjoy the convenience of making just one payment per month instead of worrying about paying multiple lenders on time. However, you might incur additional costs that you didn’t have before, and you might get a higher interest rate.

Ultimately, you want to assess your situation and analyze the numbers to decide if a debt consolidation loan is right for you financially. It’s equally important to focus on developing good money management habits over time.

Learn more:

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What is debt consolidation? | Accelerate lending https://medielys.com/2022/05/20/what-is-debt-consolidation-accelerate-lending/ Fri, 20 May 2022 04:21:53 +0000 https://medielys.com/2022/05/20/what-is-debt-consolidation-accelerate-lending/ The Easiest Debt Consolidation Methods There are several types of debt consolidation methods you may want to use to lower your payments, lower your interest rates, and more. Take a look at some of the easiest debt consolidation methods available to you below. Balance transfer A balance transfer is a type of credit card transaction […]]]>

The Easiest Debt Consolidation Methods

There are several types of debt consolidation methods you may want to use to lower your payments, lower your interest rates, and more. Take a look at some of the easiest debt consolidation methods available to you below.

Balance transfer

A balance transfer is a type of credit card transaction that occurs when debt moves from one account to another. This type of debt consolidation is generally only used for credit card debt. It can be beneficial to know that you’ll get a lower interest rate that doesn’t go up later.

Home Equity Line of Credit (HELOC)

A home equity line of credit (HELOC) is a type of second mortgage that lets you borrow against the equity in your home. You receive a revolving line of credit, which can be replenished once you reach a predefined credit limit, but only as long as you make interest or minimum payments throughout what is known as your drawdown period .

When you reach the end of your draw period, you enter repayment mode and must make full payment of interest and principal. A lender typically lets you borrow about 80% of your home’s equity.

However, it should be noted that HELOCs use your home as collateral for the loan. This means you must have equity in a home to get one, you could also lose your home if you stop paying back the amount you borrowed.

This type of loan can be beneficial for homeowners who know they are in a strong financial position to make their payments, who will also benefit from a lower interest rate and pay less overall.

Please note that Rocket Mortgage® does not currently offer HELOCs.

Home Equity Loan

A home equity loan is also a second mortgage and debt consolidation strategy that allows you to tap into the equity in your home. Lenders typically allow you to borrow around 80% of your home’s equity with a home equity loan. You will receive a lump sum which you repay with a fixed interest rate based on a fixed payment schedule. Just like with a HELOC, you will be putting your home up as collateral for a home equity loan.

Similar to a HELOC, it’s a good idea to have confidence that you can make your payments throughout the life of your loan and that you’re okay with the debt consolidation for mortgage strategy. Plus, you’ll want to make sure you pay less over time with this option than if you kept all your loans separate.

Please note that Rocket Mortgage does not offer home equity loans at this time.

Cash Refinance Loan

A cash refinance is an option that replaces an old mortgage with a new one whose amount is greater than the amount originally due. It is a method of debt consolidation reserved for mortgage holders. You’ll be tapping into the equity in your home when you opt for a cash refinance.

If you want to transfer to one convenient payment and are comfortable with the idea of ​​borrowing against the equity in your home, a cash-out refinance might be a good decision.

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