Posts Tagged ‘Card’
March 31, 2015 | 
Author Growing Number of People Using Solo 401(k) Plan Loan To Pay Off Credit Card Debt, According To IRA Financial Group Survey
New York, NY (PRWEB) March 24, 2015
IRA Financial Group, the leading provider of self-directed solo 401(k) plans for self-employed and small business owners with no full-time employees, announces the results of its internal survey which showed a large number of people looking to use the solo 401(k) plan loan feature as a means for paying off their credit card debt.
“Due to very high interest rates surrounding most credit card debt and the heavy financial burden it has on the individuals, more people are turning to the solo 401(k) plan loan feature as a way of paying off the credit card debt with a lower interest rate, “ stated Susan Glass, a tax specialist with the IRA Financial Group. “People are so excited when they lean that they can access up to $ 50,000 tax-free and penalty free from their 401(k) plan and use the solo 401(k) plan loan as a way of replace a high interest rate credit card loan with a low interest rate solo 401(k) plan loan, “ stated Ms. Glass. “The best part of the solo 401(k) plan loan is that you can get tax-free and penalty free access to your retirement funds and use them to pay off the credit card debt and at the same time pay your plan back, which in-turn increases the value of the loan, “ stated Ms. Glass.
Internal Revenue Code Section 72(p) allows a Solo 401K Plan participant to take a loan from his or her 401K Plan so as long as it is permitted pursuant to the business’s 401K Plan documents.
A solo 401k loan is permitted at any time using the accumulated balance of the solo 401k as collateral for the loan. A Solo 401(k) participant can borrow up to either $ 50,000 or 50% of their account value – whichever is less. This loan has to be repaid over an amortization schedule of 5 years or less with payment frequency no less than quarterly. The lowest interest rate that can be used is Prime as per the Wall Street Journal, which is currently 3.25%.
With IRA Financial Group’s Solo 401K plan loan feature, a self-employed individual or small business owner with no employees can borrow up to $ 50,000 tax-free and penalty free and use those funds to pay off student loan debt. There are no penalties or taxes due provided loan payments are paid on time. “The Solo 401(k) Plan loan has proved to be an appealing financing option to paying off high interest rate credit card debt and secure cheaper self- financing”, stated Ms. Glass.
IRA Financial Group’s Solo 401k Plan documents will allow a self-employed individual to use a loan from your Solo 401k for any purpose, including paying off debt, such as a mortgage, personal loan, or student debt. “In 2015, we have already helped hundreds of individuals use the Solo 401(k) Plan loan feature as a way to access at least $ 50,000 of retirement funds without tax or penalty to use for any purpose, including for use in paying off personal debt, such as credit card and student loans, “ stated Adam Bergman, a tax partner with the IRA Financial Group.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the leading provider of Solo 401(k) Plan solutions. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate and private business investments without custodian consent.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.
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Personal Finance Math 2: Calculating Credit Card Finance Charges, Part 1 How to reconcile results found on your credit card statements. This anicast is an in…
Posted in Personal Finance | 
Tags: Calculating, Card, Charges, Credit, Finance, Math', Part, Personal | 
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If you are online looking for: – Debt Management Tips – how to get out of credit card debt – credit card consolidation – credit card relief – free credit rep…
Gift Card Guy – An Entrepreneur Exposed
Los Angeles, CA (PRWEB) October 24, 2013
Gary T. Dinkin, the entrepreneur that revolutionized the Gift Card industry releases his first book today and exposes the gift card industry and himself to everyone. Don’t just give a gift card this holiday season, give Gift Card Guy, the book, to anyone that is dreaming about becoming an entrepreneur.
“Four-Star…Engaging Read” – Foreward Clarion Review
“A light breezy record of one entrepreneur’s rise to fortune and the crazy ways of American business” – Kirkus Reviews
For people who don’t enjoy reading business books, this book is for them!
“There are moments of insight and inspiration and a great deal of humor as well…an education for anyone with a desire to start a business.” – Foreward Clarion Review
Take a ride with the Founder and CEO of the world’s largest closed-loop gift card software company as he chats one-on-one in this thrilling roller coaster ride to success.
Thinking about becoming an entrepreneur? This book demystifies surviving the ups and downs. After reading Gift Card Guy, there is a self-imposed question , “Do I have what it takes to go it alone or should I continue working for somebody else?”
“Offers plenty of advice…a scarce commodity in this or any age.” – Kirkus Reviews
“Gary Dinkin is nothing if not a born storyteller…The Fifty-Nine ‘LIFE LESSONS’ Dinkin sprinkles throughout the text are what make the book particularly relevant to would-be entrepreneurs… everyone should find Gift Card Guy very enjoyable to read.” -Foreward Clarion Review
As Dinkin explains, “There are no BS motivational speeches, or get-rich-quick strategies in my book—just some life lessons that I learned the hard way.” The life lessons in here will inspire and encourage anyone to take that first step toward success and happiness. Dinkin became an entrepreneur to prove that he could accomplish anything he wanted, every time someone told him he couldn’t.
He is a sought-after speaker at industry events and an acknowledged expert in the industry and is a past winner of Transaction World’s “Movers and Shakers” Award. Gary has two daughters, and he and his wife Linda and their two dogs split their time between the coasts.
The book is published by Doodle Vision Productions, LLC and is available through Amazon, iTunes, Barnes and Noble, Smashwords, and other leading distributors in both print and digital formats.
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Hawkeye Management the Small Business Loan Company Announces a New Whitepaper The Truth About Credit Card Financing
Blackwood, NJ (PRWEB) October 17, 2013
A small business owner who hangs around the Business Finance Lounge at all knows that Hawkeye Management talks a lot about business credit card financing and other forms of small business financing solutions. One of the reasons it is an important topic is because access to financing is one of the Top 3 Reasons Why Small Businesses Fail. So whether a small business needs/wants a small business loan or some other kind of working capital you may want to grab our new – and FREE – white paper about credit card financing.
The new whitepaper talks about:
The 6 core benefits that credit card financing offers a small business:
1. Get access to capital
2. Separate personal and business credit
3. Protect, preserve and improve a credit profile as money is borrowed
4. Obtain cash-flow friendly financing
5. Minimize interest expenses
6. Maximize tax benefits
The 3 of the most common myths about credit card financing:
Myth 1- Small businesses shouldn’t use credit card financing.
Myth 2- Other means of financing, such as Small Business Administration (SBA) loans, are more desirable.
Myth 3- If a small business owner must use credit card financing, the owner should use personal credit cards so that the business owner can enjoy the protections of the CARD Act.
The 4 steps to using credit card financing the right way:
*Use the right kind of business credit cards.
Keep credit utilization within acceptable levels.
Maintain plenty of available credit.
Treat your credit as an asset.
Business credit cards can be a great way to get low cost financing and protect, preserve, and improve credit profile if obtained and used wisely. Find out The Truth About Credit Cards here.
Hawkeye Management connects entrepreneurs and small business owners with up to $ 50,000-$ 150,000 or more in freely spendable business credit lines. Hawkeye Management understands the mechanics and realities of small business credit better than anyone. Hawkeye Management knows what works, what doesn’t work, and how small businesses can get the credit it needs as quickly as possible.
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Posted in Personal Finance | Tags: about, Announces, Business, Card, Company, Credit, financing, Hawkeye, Loan, Management, Small, Truth, Whitepaper | 2 Comments »
National Debt Relief Exposes Credit Card Facts That Most Consumers Do Not Know
Miami, FL (PRWEB) June 21, 2013
National Debt Relief, the leading provider of debt settlement services puts the limelight back on credit cards. On June 4, they published the article entitled “5 Little Known Facts About Credit Cards You Need To know.”
The article tackled the very controversial nature of credit cards and how some facts can affect the overall debt amount of consumers. In some instances, it makes the debt even worse than it already had become.
The debt relief company does not completely bash the cards. In fact, they admit that “credit cards can be wondrous tools” but it had to be used correctly. To do that, consumers must understand the whole nature of the plastic cards. This is what prompted National Debt Relief to publish the 5 facts that they believe consumers should know.
Here are the 5 facts that were discussed in the article.
The first fact is credit card companies have every right to raise their interest rates whenever they want to. These cards are notorious for having high interest and to have that increase further will also grow your debt balance. The article states that the first year of the cards is usually the only time the rates are safe from having a high increase. The article also mentioned that even if the consumer is a great card holder (e.g. pays on time), they will still increase rates if they feel like it.
To counter that first fact, the article revealed that consumers have every right to refuse that interest increase. This is fact number two. Card holders can actually write to their creditor to negotiate that they keep the old interest rate. There are three things that can happen. The card company can either lower the credit line, increase the monthly payment of the consumer or close the account. In case the creditor closes the account and the consumer agree that it is the best course, they should be given around five years to completely pay off the debt. Whatever is decided, the debt relief company warns consumers to put everything in writing.
The third fact involves the protection that these cards can give. The article is quick to say that this is not for all cards though. It includes purchasing something that does not arrive or receiving something that was not what the card holder ordered. Theft through credit cards are easier to track than stolen cash so that in itself is a protection for consumers.
The fourth fact that the article discussed involves fixed rates. Fact is, it may not be fixed at all. Or at least, the article notes that it will not stay fixed and that it can convert into a variable in the future. Of course, before this can happen, the law requires card companies to provide consumers with a 45 days notice.
The last fact that the article revealed is all about the balance. Sometimes, card companies do not impose a spending limit. In some cases, there is a limited amount that can be forwarded to the next month. The article admits that this can be confusing so they urge readers to read the fine prints on the credit card’s terms and conditions.
National Debt Relief hopes that through this article, consumers will be more cautious about how they use credit cards. The debt relief company have already worked with thousands of clients who are mostly burdened with credit card debt.
To read the whole article, visit National Debt Relief or call 888-703-4948 to talk to an International Association of Professional Debt Arbitrators (IAPDA) certified debt expert.
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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Article by Wayne T
At this time of financial uncertainty, and we’re all going through it, anyone who is trying to stay afloat and keep their assets must eliminate credit card problem. There are few options for anyone trying to stabilize their credit in the shortest period of time.
Are you in trouble with high credit card debt? Do you feel stressed to the point you don’t know which way to turn to get the help that you need? There are several places you can go to get the right information you need to help determine which is the best solution for your situation in resolving credit card debt.
1. Over the last 30 years the credit card industry has grown exponentially and the consumer debt collection business has as well.
2. The Federal Reserve and Business Week report 3.7 billion of consumer debt in 1970 increased to .5 trillion of consumer debt in November 2007.
3. According to ACA International, a consumer debt collection trade group, each year debt collectors return more than billion to the U.S. economy.
4. According to data from the U.S. Census Bureau, there were 159 million credit card holders in the United States in 2000, 173 million in 2006.
According to the American Banking Associate, 4.75 percent of bank cards were delinquent in the first quarter of 2009. The point is, there are millions of delinquent credit card accounts to go around to ambitious debt collectors and collection attorneys.
Today, all debt collectors and collection attorneys don’t expect to collect from all debtors on their lists. They would consider themselves successful if they collected half of the people they pursue. Their time is money, so why should they waste time to go after an educated consumer that knows how to legally resist credit card debt collectors. Well informed debtors understand the process needed to eliminate credit card debt and can handle the attorneys and debt collectors smartly and with resolution.
Bankruptcy is a very difficult experience for anyone to handle. If bankruptcy is filed and issued it remains on the consumers credit report for ten years. A whole decade of poor credit.
In keeping with the Fair Debt Collection Practices Act, debt collectors or collection attorneys initial demand for payment can signal to the collectors that this consumer is educated in debt collection matters and knows his or her rights. Therefore, he or she is not a good candidate to continue to pursue with or without court action.
Debt collectors can threaten a lawsuit. Collection attorney’s letterheads can be very scary, but people that take the time to educate themselves properly can motivate agencies and attorneys to focus their energies elsewhere. It’s all about the documentation. The consumer needs to respond, in writing, to the collection people so everything is done legally and in a proper manner.
Next…discover the tricks and tips to reduce credit card debt…go here. http://www.waynet-reviews.com
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Britain’s got big bills to pay, but is looking to a century-old solution when times were even tougher. Never-ending loans to cover the cost of the First World War are still being repaid today, but the Treasury Chief is planning more. And that means a financial headache for tomorrow’s children, as Ivor Bennett reports. RT on Twitter: twitter.com RT on Facebook: www.facebook.com
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Article by matthiw coach
Consumers ought to not believe every thing they hear about credit card debt settlements, of which, have lately been under attack. Even though a few poor apples can give virtually any business a poor representation, it isn’t typically the truth.
Whilst some from the poor apples of personal debt relief firms could be frauds, the majority of the organizations honestly attempt to sincerely assist their clients remove their unguaranteed consumer debt. The rest of this article will present you the falsities and the truth within the unsecured debt relief industry.
Upon obtaining a credit debt settlement program, your credit card is going to be effected in a negative manner. Nevertheless, it isn’t as bad as reaching personal bankruptcy, which takes a many more years to recover from. If a unsecured debt reduction firm informs you they could eradicate your unsecured debt that’s unguaranteed and it won’t effect the score they are certainly not telling the truth. Consequently you have to look in other places for a more honest firm, as they may well lie to you once again in the future.
Even though each situation is diverse, regular consumer debt settlements can eliminate 60% of the personal debt. Even though it can vary, it depends about the general status on your accounts and how great a debt settlement company is good at reaching negotiating with your creditors. You have to get a trustworthy and productive organization, and you have to know exactly where to look.
If you’re one of those in credit debt and want to get out of it, I can inform you a necessity of discovering the correct company. In no way just go straight to any debt relief organization, but very first go via a credit card debt alleviation network that’s connected with various debt firms which are reputable. To be a component of this network, they should demonstrate a great track record of getting rid of consumer debt for their clients, and they should pass an ethical standards test. Going via a credit debt relief network for example this will guarantee that you identify the most trustworthy and hard-working personal debt relief settlement
firm.
To locate reputable debt settlement companies and get a Free Personal Debt Relief Review take a look at the following link:Free Debt Advice
About the Author
DebtBankrupt.com is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.
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www.euronews.com Some news from Cyprus, which sounds uncannily like news from Greece: the country does not have access to the international capital markets and economic reforms are going at a snail’s pace. Cypriot banks are drowning in greek junk bonds. That’s why they need a muti-billion euro lifeline now too… More new faces are showing up at the soup kitchen in the southern Cypriot city of Limassol, entire families asking the orthodox church for a free meal. The church is warning that some radical new changes are afoot. Cyprus needs a bailout. The communist ruled EU-member is cash-strapped. Unemployment is on the rise and the economic outlook is gloomy. Fifty-seven year old Costas is looking for a job. Nothing special: just something, anything. But instead of blaming the lack of competitiveness of the Cypriot economy, banks for their investment choices, or even the politicians for not having reformed the island’s economy in time, he blames the EU’s free labour market. Costas Panayi, unemployed, Limassol “In Cyprus there is a big problem now. Iit is getting worse, because more people come here to eat. They do not have food…300 people and families… and there are no jobs in Cyprus, because of the Europeans that came from Romania, Bulgaria, all over the place – and they take the jobs of the Cypriots.” But the problem also lies elsewhere: Cyprus suffers from it’s close links to crisis-shaken Greece. Just nearby the church’s soup kitchen, Cypriots and tourists mingle …
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