How Short Term Lenders Operate With Borrowers with Poor Credit

Following the recession crisis, borrowers were placed in a difficult situation as many were entirely shut out by traditional lenders. As financial institutions begin to recover from losses and loans, which were granted to troubled borrowers, there is an increasing trend for the largest lenders to woo customers back. A bankruptcy lawyer in Manhattan, Charles Juntikka said that people with bad credit are already addicted to credit and banks are again pushing it.

This means that these banks are building confidence with the very clients they had locked out. However, consumer advocates and attorneys worry that these financial institutions could again be preying on the vulnerable and borrower who is willing to take out credit at whichever cost. Former banking regulars have raised concerns that this kind of lending, which is at its early stages, could potentially put the institutions to the same risky lending that was cited as one of the factors that helped fuel the credit crisis.

The lenders on the other hand have said that they learned a lesson from the crisis and they are keenly distinguishing between chronic deadbeats, and what they call fallen angels- referring to those who had good repayment record before the credit crisis began. Shorter-term lenders have discovered that there is a group of poor-credit borrowers who can repay their loans in short term.

This is a booming business, as the lenders do not want to engage in long-term deals with these vulnerable borrowers. Although unemployment remains high, consumers are working hard to reduce their debts. Delinquencies on credit card and car loans have gone down sharply from the heights recorded during the crisis. This gives the lending institutions a new hope in recovering from the lending crisis.

Understanding that they are dealing with financially sophisticated client, the lenders still think that they can expand again. A principal in Deloitte’s banking practice noted that this segment of vulnerable borrowers cannot be ignored anymore. Short term loans are ideal for people who need money to cover their expenditures for a short period. According to Bankrate, there are four types of short-term loans available to persons with poor credit. These are payday loans, title loans, pawnshop loans and advance free loans. Some of these are secured by collateral.

However, there are other unsecured loan programs that fall under short-term loans, and which can take up to 4 years to pay. Because the poor credit may not necessarily mean that a person cannot repay a loan, lenders are examining the ability of the borrower to repay. If you have steady income, you can apply for a short-term loan and be able to repay.

The lending institutions also understand that they can help the already trapped borrower to start building his or her credit score. If you take short-term loans, you are able to complete repayment fast and help build your score. You can take another loan at even a better rate after you have cleared the first. Short-term personal loans can average up to 4 years. However, they attract higher interest rates than long-term loans. You need to choose a lender who offers lower interest rates and ensure that you do not default the payment or make late payments

Tips For Managing Water Damage Disasters At Your Home Or Business

Flood damage on a property can occur for many reasons such as a natural disaster, broken appliances, or even plumbing equipment gone awry. When this happens, it is in your best interest to call a team of expert professionals to get the job done quickly and safely to ensure that your home or business and its contents are salvageable. In this type of situation, professionals will take the stress off of your shoulders by taking control and getting the job done correctly. Flooding on a property can leave many owners feeling hopeless and stressed, and calling a professional can help combat those feelings. Most companies stay up to date on the latest advances in equipment, which means that the job will get done more quickly due to high quality products. Unless you have the proper equipment and the knowledge needed to remove water from your property, than you should not try and tackle removing flood water from your residence. Leave your worries to a team of experts that will remove the water, dry out your property, and get your life back on track in no time at all.

When looking for a restoration company to remove flood waters from your property, make sure that the company knows all about the regulations, codes, and ordinances specific to your situation. These regulations are in place to keep you safe, as well as the technicians who are working to restore your property. The first thing you should do when you discover your property has flooded is call your insurance carrier to find out what kind of coverage you have, and see if the damage is covered. From there, call a local expert restoration team to come to your location and get the process rolling. Any professional team will be able to advise you of any immediate steps that need to be taken over the phone before they arrive, and will help you better understand the process of water mitigation. The first thing a certified team will do is assess the extent of the water damage sustained. If too much time has gone on, some items on your property may not be salvageable. From there, they will set up a personalized plan with you to remove the water safely and efficiently. Once you have given them the “O.K”, they will bring in the rest of their expert team to begin the process.

This process includes first removing the water using situation specific equipment. They will then sanitize and disinfect the affected areas and begin to go through your contents to inspect the extent of the damage done. Then, they will begin to dry out your property thoroughly. This is the most important step, because if a property is not thoroughly dried, than rot and mold may set in. Those issues can cause the need for your structure and flooring to be gutted out and completely replaced. These are just a few reasons why it is important to leave this job to the professionals when dealing with flooding on your property.

Reasons Why You’re Water Bill Is So High

Have You Spring A Leak??
Many people are struggling to pay their bills. The bills go up without our pay increasing. When the water bill is higher then expected, we may start to wonder what the reason could be.

The first thing to do is check the inside of the home for leaks. Start with the toilets and then check underneath the sinks. If the bathroom floor is just a little bit damp around the toilet then this could be the whole problem. Make sure the faucets aren’t leaking around the top or the pipes underneath the sink. These problems can usually be fixed without much effort. If needed, then a plumber can get the job done quickly.

Next, check the water line for leaks. First, shut off the main water valve. Wait a few minutes and check to see if the meter is still turning. If so, then there is a leak somewhere between the meter and the home. Look for wet areas in your yard and under the house. If you see water standing or a damp ground than that is likely where the leak is it. You will have to dig up the ground to get to the pipe. Usually once you do this then you will see the water coming out of the pipe. There is probably a hole in the pipe or the pipe has came apart. A new pipe can solve this problem. Even the smallest leak can waste a gallons of water.

Another reason for a high water bill could be a simple use of more water. A swimming pool, for example, can cause thousands of gallons of water to be used. Also, have you been watering plants or a garden? This could be the reason for a high bill. Check with everyone in the home to make sure they cut off all faucets after each use. A tiny drip of water from a faucet can cause more water to be used.

Unfortunately, any leak from the meter to the home is your problem to fix.
Most can be fixed for a little amount of money but can sure be a hassle to deal with. If you have looked everywhere and still can’t find a leak then you need to contact the water company. It could be a broken leak under the road or the water meter may have went bad. This would be there problem to fix and not yours. Some water companies will work with you if you find you have a leak. Most will give you credit on your bill while you fix the problem. Some will also send a letter when they notice a big change in the amount of gallons being used. Talk with them to help handle your current water bill situation. Most will be more than happy to help.

This article was provided by the Plumbing Pros from Tri County Plumbing, who provide emergency plumbing services to the greater S.E. Michigan area, to learn more aboue emergency plumbing and Mike Wallace, you can connect with Mike on Google+ and Twitter.

Avoid Home Fires With These Safety Tips For Your Christmas Tree Decorations

Safety with Christmas Trees, Light and Decorations
Celebrating Christmas – and Safety
Christmas is a time when many families decorate their homes from top to bottom. Lights, garlands, fake snow, stuffed animals, and a Christmas tree are only a few options for decoration possibilities, but each of them comes with a few safety concerns. As the holidays are supposed to be a happy time, following a few steps to ensure the safety of the home is well worth a little extra time.


Christmas lights can be hung indoors and outside, and used to highlight just about anything imaginable. From the borders of a roof to the branches of a tree, Christmas lighting not only looks festive and fun, but it is relatively simple to decorate with lights. Like all electrical items, these lights should be carefully inspected each time they are used, as well as periodically throughout the season. Check for frayed wires, burned out bulbs, blown fuses, and make sure to read the suggested use guidelines. Although only one more strand may be necessary to complete the decorating, overloading one outlet can cause fire, creating an even bigger problem. Also, using lights only where recommended is key – outdoor lights and fixtures are specially designed to withstand the elements.

Other Decorations

Paying attention to what is being used as decorations is key to Christmas safety. Watching for flammability, toxic ingredients or plants, and small pieces is a good way to make sure that a decorative display is as safe as it can be.

For homes with children and small pets, using items like Poinsettias, scenes that have small or sharp pieces should be avoided – or done very carefully. Utilizing high places like shelves, counter tops and even placing things outdoors may prevent many accidents from occurring. Though these decorations are popular choices for this time of the year, there are alternatives to the “real” things, such as fake flowers, scenes with minimal piece counts, and items that can be secured to one place, not moved around easily.

Christmas Trees

Often the centerpieces of any Christmas display, Christmas trees can be dangerous if not properly tended to. Ensuring that a live tree has plenty of fresh water will help keep it from drying out and becoming a fire hazard. Fake trees and the materials that they are made of are often flame resistant, but they need to be monitored as well. The lights on the tree should be checked for safety, as well as turned off when leaving the home or going to sleep, which may also help prevent fires.

Sometimes overlooked, the ornaments and tinsel on trees should be carefully considered before decorating. Glass ornaments can shatter if they fall from the trees, potentially causing injuries to people and pets, and even the hooks that are used can be dangerous if used incorrectly or dropped into carpet. Making sure that the tree itself is stable can prevent an accidental topple, which could tear cords, break glass, or even injure someone in the vicinity of the tree itself.

Don Marks works for Jarvis Property Restoration, a leading fire damage restoration firm that often helps property owners repair and restore their homes following unexpected home fires. Practicing safety in the home can ensure that the Christmas holiday season passes by smoothly, leaving cherished memories for the future – and a good impression on those involved.