Posts Tagged ‘Credit’

Growing Number of People Using Solo 401(k) Plan Loan To Pay Off Credit Card Debt, According To IRA Financial Group Survey
















Self-employed 401(k) Plan $ 50,000 loan feature allowing small business owners to fund their new business without seeking high interest rate loan options


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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Mortgage Banker, Mr. Jason M. Ruedy, Redacts a Statement Made About Credit Scores Not Being Affected by Mortgage Shopping














Jason. M Ruedy

Denver, Colorado (PRWEB) March 17, 2015

Mortgage Banker, Mr. Jason M. Ruedy, also known as The Home Loan Arranger, redacts a statement made in a press release issued on February 24, 2015 regarding whether a person’s credit score will absolutely not be affected by shopping around for a mortgage.

In the press release Mortgage Banker, Mr. Jason M. Ruedy, Affirms “Your Credit Score Will Not Take a Hit as a Result of Shopping for a Mortgage”, Mr. Ruedy states that “it will not damage a person’s credit score to shop around for the best possible mortgage – even if multiple credit checks are necessary.”

As referenced in Mr. Ruedy’s February 24, 2015 press release, according to an article published on NYTimes.com on January 30, 2015 entitled Mortgage Shopping and Credit Scores, “Borrowers need not avoid shopping around for the best mortgage deal out of fear that allowing multiple lenders to “pull,” or check, their credit will chip away at their score. The notion that a flurry of credit inquiries from mortgage lenders will lower a borrower’s score is a common misconception, experts say. The truth is that five inquiries are likely to have no more impact than one, provided they are made within a compressed period of time.”

“I realized after my February 24, 2015 press release was issued that the words “will not damage a person’s credit score” were too definitive. In reality, if a person seeks multiple inquiries – all within a period of 45 days – the inquiries should be considered as one inquiry by the credit reporting agencies. But if multiple inquiries are made over a period of time lasting longer than 45 days, there is a possibility that the extended period of shopping could have an impact on a person’s score, albeit probably minimal.” – Jason M. Ruedy,

The Home Loan Arranger

Mr. Ruedy reiterates that credit checks completed by mortgage companies should not be seen as the same as credit checks from credit card companies – and the inquiries should not have the same potential for a negative impact on a person’s credit score.

“I still believe that worrying about a credit check by a mortgage company is not a reason to not consider purchasing a home or financing. I just want to clarify that mortgage-related credit checks should be the least risky to your credit score when all inquiries are completed within a 45-day timeframe. – Jason M. Ruedy, The Home Loan Arranger

According to Mr. Ruedy, the best course of action is to seek the advice of a trusted mortgage banker or mortgage broker if you have questions or concerns about how mortgage shopping may affect your credit score.

About The Home Loan Arranger:

Mr. Jason M. Ruedy, also known as The Home Loan Arranger, has 20+ years of experience in the mortgage business. His company was built around the crucial principles of hard work, discipline, and determination. The Home Loan Arranger evaluates client applications quickly and efficiently and structures loans with the best possible terms. Mr. Ruedy is successful in achieving loan closings for clients while meeting their highest expectations. Jason M. Ruedy is ranked #2 in the state of Colorado by Scotsman Guide, which is the top leading resource for mortgage originators.

For media inquiries, please contact Mr. Jason M. Ruedy, “The Home Loan Arranger”:

The Home Loan Arranger

512 Cook St #100

Denver, CO USA

Phone: (303) 862-4742

Toll Free: (877) 938-7501

http://www.thehomeloanarranger.com/



























Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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Consumer Credit Reporting Services Procurement Category Market Research Report from IBISWorld has Been Updated















Los Angeles, CA (PRWEB) February 13, 2015

Consumer credit reporting services have a buyer power score of 3.4 out of 5, which reflects moderate negotiating strength for buyers. Demand for consumer credit reporting services has been rising in line with the recovering economy and growing borrowing activity by consumers. “Over the three years to 2014, buyers have continued to rely on vendors to gather and distribute historical credit information,” says IBISWorld procurement analyst Kiera Outlaw. “The ongoing need to evaluate consumer credit, coupled with easier access to credit, increasing aggregate household debt and strengthening consumer spending has been causing service prices to rise.” Prices are forecast to rise further in the three years to 2017. Although rising service prices have hurt buyers’ purchasing power, buyers have been benefiting from a low level of price volatility during the recent period.

The consumer credit reporting services market is moderately concentrated, with Equifax, Experian and TransUnion holding the majority of total market revenue due to their massive data networks and inter-bureau reporting arrangements. These major consumer credit reporting firms have also started to offer business credit reports and other related support services to expand their competitive positions. Nevertheless, the growing adoption of online credit reporting platforms has made it easier for other vendors to enter the market, including a number of specialty firms that focus on reporting nontraditional credit data. “Suppliers can obtain high profit margins in this market, presenting some opportunity for buyers to negotiate lower prices, particularly when bundling multiple services from a single supplier,” adds Outlaw.

Buyers face a mixture of risks and opportunities throughout the purchasing process. As a result, buyer negotiation power is negatively impacted by the lack of viable substitutes and switching costs that can arise due to a moderate level of service specialization. Alternatively, buyers benefit from a low total cost of ownership, short buying lead time, low supply chain risk and minimal chance of vendor default. For more information, visit IBISWorld’s Consumer Credit Reporting Services procurement category market research report page.

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IBISWorld Procurement Report Key Topics

This report is intended to assist buyers of consumer credit reporting services. Vendors in this market provide objective reports on each consumer’s credit history, which buyers can use to make informed business decisions. Insurance companies, human resources departments, property managers and institutional creditors request consumer credit reports. Individual consumers also purchase reports to evaluate their own credit standing and to address potential data errors. Consumer credit reports usually generate a score based on a consumer’s timeliness of payments, level of debt, credit history length and other relevant information sourced from public records. This report excludes credit counseling and credit card services.

Executive Summary

Pricing Environment

Price Fundamentals

Benchmark Price

Pricing Model

Price Drivers

Recent Price Trend

Price Forecast

Product Characteristics

Product Life Cycle

Total Cost of Ownership

Product Specialization

Substitute Goods

Regulation

Quality Control

Supply Chain & Vendors

Supply Chain Dynamics

Supply Chain Risk

Imports

Competitive Environment

Market Share Concentration

Market Profitability

Switching Costs

Purchasing Process

Buying Basics

Buying Lead Time

Selection Process

Key RFP Elements

Negotiation Questions

Buyer Power Factors

Key Statistics

About IBISWorld Inc.

IBISWorld is one of the world’s leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.






















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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…

The No Credit Check Auto Lender Answers “Can You Use a Personal Loan for a Car Purchase?” in New Article












Seattle, WA (PRWEB) November 02, 2014

Many shoppers find the task of applying for an auto loan taunting and therefore look for other ways to purchase their new car. The idea of using a personal loan as payment is a questions many shoppers ask themselves. In the newest article from the online auto lender, the differences between loans is discussed as well as the best loan option for a car purchase.

https://completeautoloans.com/application-form/ – Get approved for a car loan in as little as 60 seconds

“Auto loans are secured loans, meaning that the lender has a physical piece of property (the car) that they can use as collateral in the loan. For this reason, auto loans can have lower interest rates and lower qualification requirements than personal loans,” says Complete Auto Loans.

As an extra service, Complete Auto Loans also provides a complimentary online credit score tool which has helped drivers save thousands of dollars. Upon completing the easy online car loan application, applicants are given the opportunity to save thousands of dollars on their loan. For more information, visit Complete Auto Loans website.

About Complete Auto Loans

Complete Auto Loans is a Seattle-based company that is dedicated to helping their customers acquire national car financing. They design and develop customized no credit financing, bad and good credit loans. Voted the best for “Quality Customer Service” and “Best National Service” by thousands of people, their finance experts focus on providing their customers with the following: information and tools available for different loan offers, how to choose the best loan that fits their budget, as well as related eligibility guidelines.

















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Vocus©Copyright 1997-

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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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…

Nonprofit Debt Management Credit Counseling Providing Low Cost Student Loan Help












Lighthouse Point, FL (PRWEB) July 24, 2014

Debt Management Credit Counseling Corp. http://www.dmcconline.org, a nonprofit credit counseling organization (DMCC), announced today that it is providing free and low cost services to help federal student loan borrowers identify and implement affordable repayment options. The U.S. Department of Education offers various repayment options to borrowers who are struggling to repay their student loans. The options available, and the corresponding repayment terms, depend on many economic factors. DMCC provides borrowers free counseling and education to help identify the options that may be available to them. Low cost services may be requested to help borrowers implement their best option.

DMCC’s online calculator, which estimates the monthly payments under various federal repayment options, is the first step for borrowers seeking assistance. Using the calculator, borrowers can easily identify the option that may be best fit their budget. Taking a few minutes to fix what can become a 25 year problem is especially important to those borrowers whose student loans are in default. DMCC also provides links to information about each option’s requirements, costs and consequences. “One of the biggest obstacles that borrowers face is knowing where to start”, said Phil Heinemann, DMCC Executive Director. “Loan servicers do not always volunteer information about all the options available and more importantly, which one is best for you. The federal student loan websites and the options presented can be overwhelming. Our goal is to educate borrowers on their repayment options and help them implement the one that is in their best interest.”

DMCC cautions borrowers who are looking for help with their student loans to avoid debt relief companies charging high fees for such services. The repayment plans available for federal student loans are available at no charge through the U.S. Department of Education. However, the complexity surrounding the process, and consumer reluctance to speak with lenders, causes many borrowers to seek help from aggressively marketed debt relief companies that often charge excessive fees for their services.

DMCC provides its student loan services along with free personal budget counseling and general financial literacy education. Debt management plans to assist consumers with the repayment of credit card accounts are also available. Lower credit card payments obtainable through debt management plans, combined with budgeting, is an option that may provide sufficient relief for student loan borrowers to enable them to balance all of their monthly payments.

Borrowers looking for information about their student loan repayment options should go to the DMCC Student Loan Center or call 866-204-0520, Monday through Thursday 9:00am to 6:00pm ET or Friday 9:00am to 3:00pm ET.

About Debt Management Credit Counseling Corp.

DMCC is a 501c3 nonprofit organization committed to educating consumers on financial issues and providing personal assistance to consumers overextended with debt. Education is provided free of charge to consumers via seminars, workshops, a proprietary financial literacy program, and a vast array of online and printed materials. Personal counseling is provided to consumers to identify the best options for the repayment of their debt at no charge. DMCC is a U.S. Department of Housing and Urban Development Approved Housing Counseling Agency, is approved by the U.S. Department of Justice to provide bankruptcy counseling and education, and has an A+ rating with the Better Business Bureau.



















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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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No Credit Check Auto Loans with Bad Credit and Guaranteed Approval up to $ 35,000 Now Offered by Complete Auto Loans











No credit Check Auto Loans


Seattle, WA (PRWEB) April 24, 2014

Auto loan shoppers who need a no credit check auto loan can now find trusted dealers in their local area online through Complete Auto Loans. Instead of shopping dealer individually and dealing with the frustration of being turned down by multiple dealers, the nationwide lending resource makes it easy for people to get approved with a lender in their local area. The only requirement for approval is that applicants make at least $ 350 per week.

To get approved just fill out the secure online lending application below:

https://completeautoloans.com/application-form/ – 60 second application

America’s favorite lending resource provides low interest rate loans to people with good credit, bad credit, and even no credit. Their unique lending experience can be provided due to the fact that they’ve been building their trusted lending network for years with dealers and lending institutions who have a history of provided high quality customer service.

Checking One’s Credit Score

Getting approved for a loan is just one of two necessary steps people with bad credit should take. One of the best ways for a person to improve their credit score is to buy a car and then track their credit history. This is why Complete Auto Loans provides applicants with an easy to use Credit Score tool that keeps users up to date on their latest score from all three of the top sources in the nation. A better credit score can save applicants thousands on their next auto loan or home loan. It just takes a minute to apply and people can literally save thousands on their next loan by working on improving their credit score.

Learn More about Complete Auto Loans

CAL is a Seattle based resource is fully dedicated to help its customers acquire national car and auto financing. They design and develop customized no credit auto and car financing, bad and good credit auto and car loans. Voted the best for “Quality Customer Service; Best National Auto Loans Service” by thousands of people, their finance experts focus in providing its customers information and various tools available for different auto loan offers, help them to choose the best that fits their budget as well as the related eligibility guidelines in detail.

















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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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Midland Credit Now Helps Clients Find The Right Car











SEO Desk logo

(PRWEB UK) 26 April 2014

Midland Credit, a leading UK car finance firm, is now pleased to offer assistance to clients who are looking to find the right car. In their work over the past thirty years, Midland Credit has had the pleasure and privilege of working with a number of car dealers. Over the years, the firm has developed an understanding of which firms offer a reliable, dependable and value for money service. The company has a network of recommended car dealers across the country, all contained in a database with many variables. This means Midland Credit is able to provide clients with a car dealer recommendations based on any criteria that they may have.

Although offering reliable car finance deals is the most crucial part of the Midland Credit service, the firm aims to offer as much support and guidance to clients as they possibly can. Obtaining car finance and buying a car can be difficult and not every professional is looking to provide the best advice or guidance. Midland Credit is happy to offer impartial advice on a wide range of car topics, and with more than thirty years’ worth of experience in the car finance industry, the company is confident that they know what they are talking about.

The firm understands that car financing is the reason why people contact them and Midland Credit offer a decision within 1 hour of the client making their car finance application. Obtaining bad credit car leasing is a tense time for most people and Midland Credit understands that a lengthy wait will only add to the tension that people feel. This is why the firm is keen to offer a reliable and speedy service. With many clients only requesting car finance support when they are actually looking for a new car, the firm understands that time is often of the essence.

The fact that Midland Credit is able to provide an answer on a car finance application within an hour makes them one of the best car finance firms in the United Kingdom. The company’s experience means that they know the importance of owning a car and why the current economic downturn is no barrier to people obtaining car finance. Midland Credit is ready to help clients obtain the finance they need, and if a client is looking for the best place to get a new car, the company can assist with this process too.

About Midland Credit:

Midland Credit has been operating for more than thirty years. This ensures the firm is one of the most experienced car finance firms in the United Kingdom. The company knows the importance of offering car finance and the firm knows that the current economic crisis, or people’s own bad credit rating, shouldn’t work against someone when they are looking to obtain car finance. The firm also knows that time is of the essence and aim to provide a decision within one hour of the application being submitted.























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Dealer Capital Can Now Facilitate Revolving Lines of Credit with the Best Rates Available for Auto Dealers Nationwide












Boynton Beach, FL (PRWEB) February 13, 2014

Dealer Capital LLC, the one-stop-shop for the most superior cash flow products and services nationwide, announced the introduction of innovative programs designed to facilitate revolving lines of credit for buy here pay here auto dealers and auto finance companies secured by their auto receivables.

The company offers interest rates from Prime to the mid-teens and advances ranging from 50% to 75% of the auto loans current principal balances. The lines can be as low as $ 1 million with borrowings beginning with a minimum preferred of $ 500,000. The larger the line size, the more time in business and industry standard systems required. There are minimum requirements of good widely known software management system and static pool analysis for lines of $ 5 million and larger.

Bill Campbell, CEO at Dealer Capital LLC, explains “Perhaps you are in need of a new line of credit or you wish to refinance your current line of credit to lower your cost and improve your advance rate. We are offering great programs to facilitate the credit lines.”

The specific unique programs offer interest rates that vary depending on line size and credit quality of borrower: lines to $ 5 million – Prime + 9 points, lines of $ 5 million to $ 20 million – Prime + 1-3 points, and lines of $ 20 million + – LIBOR + 1-3 points. The financial requirements include 2 years tax returns, 2 years and YTD P&L’s and Balance Statements and current personal financial statements plus 2 years of personal tax returns.

Moreover, Floor plan lines of credit are also available – lines as low as $ 50,000 to $ 1 mil + and interest rates down to 6%.

And Mr. Campbell adds “Our philosophy focuses on under-promising and over-delivering. This is key contributor to our continued customer growth & satisfaction, and a major reason why our clients recommend us to their colleagues.”

Choosing Dealer Capital LLC can enable clients to eliminate the need for outside financing and the use of additional assets as collateral, increase their cash flow and profitability, and select competitive funding options from multiple lenders and funding sources. All bids are at no cost and no obligation.

Further information on the specific programs are available at http://dealercapitalllc.com/.

About

Dealer Capital LLC, based in Florida, with a reputation for top quality service and more than 35 years of combined experience, offers a wide variety of programs and cash flow options to best meet the needs of their clients.



























Vocus©Copyright 1997-

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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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