Refinancing Student loans – Can they be beneficial to you?

The act of merging various loans into a single new package is termed as student loan consolidation which could be done through student loan refinancing. The offer is highly beneficial and you are allowed to draft the plan as you require. With fixed interest rate, you can potentially lower the monthly payments with the offer. Since the payments are highly flexible your stress due to payments are reduced and you can focus on a single payment instead of too many. There are a variety of programs through which you can consolidate your student loans and relieve the stress due to debts.

Why should you consider the option of refinancing?

The benefits are such that you can consider yourself fortunate if you qualify for any of these programs. Your credit score is not a matter of concern for the lenders to grant approval for the plan. The payments can be postponed as per the convenience of the borrowers. The outstanding loan is discharged at the demise of the borrower. One of the major attractions is that the interest on the student loan refinancing is exempted from taxes. When the federal student loans are consolidated under the consolidation program consolidated by the government, they are highly advantageous to the borrowers.

Though the offer is beneficial and much preferred, all the applicants do not become eligible for this. There are certain criteria and conditions that you need to meet if you need to be approved for the offer. The students who have unmanageable debts and those who struggle with repayments can obtain these loans with bad credit without and difficulties. If the debts are manageable, there is no need to avail this exclusive offer. When you think of applying for refinancing, you need to consider the terms of the offer to verify whether it is beneficial to your situation. You need to ensure that the amount that you can save through this program is significant enough to make the option worthwhile.

The bank loans and federal loans differ in their terms. It is essential to evaluate the advantages and disadvantages before you decide on the offer. The option is ideal for the students who have availed loans from financial institutions and not from the federal government. The interest rates for private loans are higher than for federal student loans. By opting for refinancing with lower interest rates, the payments towards private student loans can be reduced enabling the borrowers to save a significant amount every month. The savings could be spared to clear the debts at the earliest at

Whether you refinance your government or private student loans, you can extend the loan term to minimize the monthly payments. You can make it up to 30 years. However, you need to understand that it takes a very long time to pay off your debts though the monthly payments become affordable. Although there are various advantages associated with the offer of refinancing, you need to think twice. Converting Stafford loans or Perkins loans into a private loan will cost you more. The interest rates will be higher and there is the loss of some of the beneficial features that are drafted to support the borrowers who are financially strapped. The offer is of course beneficial to the students who struggle with private loans.

Factors that affect your Credit Report

Credit report or history is defined as the contradictory evidence regarding the preceding debt and loan transactions of an individual or the organization. This encompasses all the details about bankruptcy, loan default or late repayments if any. Credit report is otherwise known as credit score, credit history or credit reputation. Usually bad credit lenders would evaluate a person claiming loan, based on his/her credit history. So, it is the responsibility of the person to clear out the debts and maintain proper account transactions along with a fair credit report. Therefore, your credit history is a tool to judge your trustworthiness towards repayment.

Things that impact your credit history

  1. Credit history and Debts

Credit history of a person has a great impact on his/her credit report. The history of credit owned by an individual obviously reflects in the report. Therefore it is in the hands of the individual to maintain good history of credits in order to have a trustworthy credit score. Debts of the individual also have a great impact on the score because the remaining dues of the individual allows the lender to judge if the borrower is faithful enough to receive and pay back the loan on time at here.

Late payments of loans, bankruptcy, foreclosures are also factors that affect your credit score.

  1. Duration of credit history

The credit score of an individual is affected with the history of the bank account. This is because of the fact that the age of your bank account and your transactions during the past years will clearly display if there are any credits in due, if you are a bankrupt, and on the other hand, pictures the reliability of yours. If you possess a lengthy account history and if you have been paying all your bills on time then the credit score would favor you. If you have opened an account recently then it affects your credit reputation.

  1. Fresh Credit

This is another reason for your weaker credit score. The count on your new accounts and your recent credit transactions would affect your credit history. If you go on shopping tediously on credit and have failed to repay the due then it would reflect on your credit score. Also when you have been opening fresh accounts in various commercial agencies then it transparently displays that you will be put into higher credit risk. This is due to the fact that only when a person needs to acquire money during emergency would happen to open a new account instantly.

  1. Miscellaneous Credits

This sounds quite similar to that of the fresh credit accounts. Miscellaneous credit history would affect your credit score. This is because when you have underlying dues with your credit card, shopper’s card or mortgage loans then you are subjected to a risk of foreclosures. When you already have debt balance in all the accounts, it really marks you bad for another credit. This denies further loan claims and transactions from your side. When you already have mix type of credits and still claim for other credit options again your credit score will get badly affected.

Compensation for accidents at work: physical vs mental damage

The legal definition of a personal injury is a personal injury is an injury to the body or mind of an individual rather than to their property. The difference with them is that generally a physical injury will be painful and often visible to the victim at least, mental damage no one can see, and it can be many months before it is recognized for what it is.

Mental injuries can happen in many ways but are usually because of a traumatic experience or undue stress, both of which can be because of your employment.

Employers have a duty to protect the health and safety of their employees, and that does not apply just to physical injuries. As examples, you could suffer from

  • Anxiety/stress

  • Depression

  • Post-traumatic stress disorder

  • Fear

These could result from:

  • Being in an accident

  • Witnessing an accident

  • Pressure from employers to work harder or longer

  • Large unwanted changes in your job

  • Ones self image after a scarring accident

You are just as entitled to compensation for accident at work if your injury is psychological as if it is physical.

Physical injuries

Physical injuries can be as life changing as a mental injury.  If a victim becomes confined to a wheelchair for instance, or loses their sight, they would have to live their life in a totally different manner.  Most of us are very adaptable though, we would be glad to be alive and learn to live with the injuries, no matter how bad they were.

That is not always possible with e mental injury. The depth of a mental injury can mean that the victim is not always able to to control their responses or reactions.

They can also be a lot harder to treat than physical injuries; you can’t see the healing process happening, if it ever does.

Making a personal injury compensation claim

It is not unusual for a claimant to be part way through a physical injury when  symptoms of a mental injury start to manifest themselves.  If that should be the case, the claim would be adjusted accordingly.

Acting on behalf of someone else

When someone has a physical injury, generally once they are over the initial shock and on their way to recovery, they are usually able to contact the injury lawyers, discuss everything that needs to be done and make their claim. Some victims leave it a while to see how their claim progresses before taking any action, but as long as they start the claim within three years of the accident, they can still go ahead.  At least they have that choice.

A victim that is mentally damaged, even with something like depression, cannot always grasp what they need to do, and with severe trauma would not comprehend what they need to do.  Because of the lack of clarity of mind, they should not lose out on their right to compensation, this could well be a time when they need it more than ever.

A family member should contact the injury lawyers on their behalf and get the claim started.

Energy Prices Set To Drop

The country is waking up to the news that the bigger energy companies have announced a price cut, after the government backed down on some of the measures that the energy companies felt were restricting them and causing them to push up the prices.

Backing Down

The majority of the cost cutting measures are made up in changes to the “Energy Company Obligation” which was introduced by the government at the start of 2013. This measure was intended to cover a number of objectives including reducing carbon emissions in effort to tackle global warming, focus more to help communities with the lowest incomes and introducing measures to reduce the cost of heating homes, for example replacing or repairing boilers.

Npower has also made nearly 1,500 of their workers redundant. They gave the reason as cutting costs. Although this statement may lead to some thinking that this means cutting the price of customer’s bills, it can simply mean that the business wants to increase their profitability.

Whilst the lowering of prices will be welcome news to people it also means that there will be 1,500 extra workers adding to the unemployment figures, potentially claiming unemployment benefits and facing uncertainty over the festive season and New Year.


All of this rather fast change also means that some people may have missed out on some of the better deals.
When the price rises were initially announced, many people were quick to get on the price comparison sites and switch supplier before they were stung by the price rises; some companies stated they were increasing prices by as much as 10%.

The popular reason they have given for this is that wholesale prices for gas and the fuels used to make electricity had increased and that the “green levies” put upon them are being increased.

Prices Are Still Increasing

British Gas said it would be able to cut bills by £53 after announcing a rise of £123 for the average customer on dual-fuel (gas and electric) tariffs.  This still means that energy prices are rising by around £70. This still equates to a large amount of fuel prices increasing to a rate that is higher than many people are able to afford.

To top this off, some energy companies – the main one being SSE – have stated that the adjustments of their pricing strategies will not come before the traditional cold spells, which may mean customers are paying unnecessarily high prices over the periods where they will need to use more energy to heat their homes.
This is compared to the late-spring to early-autumn periods where most people will have little need for central heating, where the majority of the utility bills will be focussed on paying to heat water for baths and showers and for use in cooking meals.

Statistics from a report by the Money Advice Service into debt levels across the country also indicated that those in debt found commitments to paying gas and electricity bills were taking a large chunk of their income and in some cases pushing them further into debt.

According to a BBC article, the average dual fuel bill is £1,385 per year. It is no surprise that this has such a big impact on those with debts, as income statistics show the overwhelming majority of those in debt earn less than £15,000 per household per year, meaning that round 10% of their income is spent on keeping warm.


This reduction of measures has a short term effect on the prices of energy, but it is unlikely to help in the long run. Ensuring energy efficient products and insulation are installed in homes of all customers, especially those with lower incomes, could have a greater effect with a greater benefit for society.

This article has been written by Jamie Smith on behalf of Loans4Tenants. If you’d like to read more of his articles visit

How To Help Your Aging Parents With Their Finances

Your parents have always been there for you helping you through thick and thin and solving issues whenever you had them. During your early years, they were taking care of you and guiding you through the most critical moments of your life. Now, they are old and need you to help them make decisions regarding their lives. One of the main issues that senior citizens find themselves in have to do with managing their money. You want to help your aging parents with their finances, so you need to inform yourself about what this implies.

The first thing you need to know about helping your aging parents managing their money is their current financial situation. You should ask them about any retirement plan that they might be enrolled in as well as any other source of income that they have. You should sit with your parents and inform them of their financial situation. They would want to know what it is happening with their money, so you want to include them in any type of decision that you make regarding their finances. This will make them feel helpful, and they will not resent you for managing their finances.

This is important information because you want to make sure that they are living within their financial situation. You want to make sure that their savings or income will provide them a good life. As senior citizens, they need to be comfortable. You also have to think about any emergency they could find on the way, so you have to inform yourself about their financial situation before doing anything else.

Once you have the records that give you this information, you need to make a life plan for your aging parents. This should include a budget that details each one of their expenses. You should include information such as rent, food, medical expenses, and any other monthly expense that they have. This will allow you to have a better idea of how much money they need every month.

You have to evaluate certain information when you are writing down their budget. Ask them if they are happy with their current living situation. You want to make sure that they are satisfied with their life, so this should be a priority for you. If they live on their own, you should make sure that they are living under adequate circumstances. If they complain about anything in particular, you should make any necessary change before proceeding to any other change in managing their finances.

Even if you make necessary changes, you might want to consider secured environments for the future. There are many senior’s home that will provide your aging parents with the necessary care they need once they are unable to live by themselves. Even if that is not the case at the moment, you want to evaluate them for the future. You should think that their safety is on your hands, and it is up to you to move them to a safe environment when the time comes.

Once you sort this out, make sure that their daily and weekly needs are met. For example, many aging parents are unable to drive or walk for that matter. Ask yourself and them what would make their lives easier. Things such as getting groceries delivered can be extremely important changes they have to make. Money will play a role in this, so you need to add this in your budget.

Take in advantage that many aging parents do not want to lose their independence. You should make sure to arrange transportation options in order to help them move around town without feeling forced to call you every time they need or want to. Depending on their health and mental state, they could walk or drive themselves. However, you need to make sure that they are aware of the different options they have before doing this. You should stress the fact that money will be use for this type of services too, so they know where their money is going.

Something that will take a big part of your parents’ income is medical expenses. Senior citizens start presenting health issues even if they are overall healthy. You want to make sure that you are covering this expenses properly based on their monthly income. You also have to remember that emergencies happen, so you also want to save them money in case you have to face one.

Overall, it will take you some time and effort to help your aging parents with their finances. There are many steps you can take in order to manage their money in a way that it can cover each one of their needs, so you should be sure to consider each one of them.

Guest post by: Debt Consolidation USA

How To Go Green To Save Green

There are very few things as worrisome as the current state of the planet earth. We are constantly bombarded with news about climate change and the consequences of this phenomenon. This is why it is not odd to hear phrases like “going green” in order to help save the planet.

How Can You Go Green To Save Green?

There are a few things that you can do in order to change your lifestyle and help the planet at the same time. Changing to an environmentally green sustainable society is becoming a popular choice among young people. Most of them realize that their decisions will influence the state in which their children and grandchildren will find the planet which encourages them to be more self-aware.

There are a few things that you can do in order to change to a green lifestyle, and you will notice that it will positively influence your life in many ways. You should be aware that it requires a commitment to go green. However, you will find out that not only you are helping to save the planet by reducing environmental impact. In some cases, you will also save money while living a healthier lifestyle.

First things first. Consumerism has caused people to live in constant disarray and fast-paced lives without paying attention to the consequences that this lifestyle brings to the planet. However, you do not have to change exponentially you lifestyle in order to change this. Small changes in your daily routine will allow you to get used to your “green lifestyle.” You need to change your mindset and commit to transform your daily routine to a sustainable one.

Now, you are ready to know the ways in which you can help the planet. You need to be aware that you can adapt most of the following tips to what suits you the best. You just have to be sure that you are doing this with an open mind.

1. Go Green By Saving Energy

Whenever you think about saving the planet and go green, saving energy should be your priority. Why? It is proven that most of the damage to planet earth comes from consumerism culture. During the last decades, the world has experienced an incredible fast development. Although this is a great thing in general, more and more products we use in our daily routine consume energy.

Going green does not mean that you abandon your electronics. It only means that you do minor changes. For example, depending on the weather, you can always set your thermostat a few degrees lower or higher. This will not only leave a print on the planet, but it will also allow you to save some money. Change to compact fluorescent light bulbs instead of the regular ones. If you are going out of your house for at least 12 hours, unplug the appliances that you are not going to use or connect them to a smart power strip.

2. Go Green By Spending Less Gas

This is a big one because gas usage can damage our environment considerable. Also, have you ever notice how much money you spend on gas on a weekly or monthly basis?

If you live close to your work, you should consider walking or biking instead of driving. It will improve your health considerably, and you will save the planet at the same time. If you live far away from your job, you can always commute with people who work close to you. Some states offer commuter services in which you travel with people that work in certain areas. You can also take advantage of the public transportation system. This will allow you to save a lot of money, and you will be going green at the same time.

3. Change Your Diet

Another great way of going green is making changes in your diet. Instead of having a diet based on meat, you can try change it to a vegetable-based diet. If you are not very happy with the idea, you can try to go meatless every other week.

Also, you should consider purchasing your food from local farmers. Many cities offer local farmers market in which they sell their organic vegetables, meat, and dairy products. You will be helping your local economy while supporting sustainable techniques that help the environment.

You should also stop drinking bottled water. Instead, get a water filter and purify your tap water. This will reduce your container waste and save you a lot of money.

As you can see, going green is not as difficult as it appears. Slight changes in your lifestyle can help the environment. You do not need to make drastic changes. And you will notice that you are a more happy and healthier person once you go green.

Guest post by: Bad Credit Consolidation

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