Online Financial Tips

Archive for December, 2011

Harland C. Stonecipher established Pre-Paid Legal Corporation on 11 July 1969. Harland after incurring huge legal bills, while he was being treated after a vehicle accident got the inspiration to launch this mlm company. The company introduced exceptional products and good business opportunity. In addition, it acts more like an insurance company. Pre-Paid Legal began to sell plans via direct marketing in 1983. In 1984, it went public on NASDAQ’s National Market System. Later in 1986, this MLM company secured a place in the American Stock Exchange.

In 1999, Pre-Paid Legal made a way on the NYSE (New York Stock Exchange). It was even ranked as the 33rd fastest growing Corporation on NYSE for the same year. In 2007, Pre-Paid Legal was listed among the 200 Best Small Companies in the United States of America. At present, it renders services in nearly 50 cities in Washington, D.C. along with four provinces of Canada. Pre-Paid Legal proffers business opportunities, whereby individuals can directly sell or recruit other people for selling the company’s memberships. This is similar to any MLM business structure, wherein individuals have earned huge money due to the demanding services of offered by PrePaidLegal.

At any point if time, you can get in touch with this MLM Company. Simple legal matters that require opinions help in saving huge money. Usually most of the attorneys charge unaffordable rates, whereas Pre-Paid Legal offers the opposite. This MLM Corporation covers legal issues such as will preparation, buying a car or house, problems relating to insurance companies, contract reviews, and identity thefts. This MLM company has more than 1.5 million associates thus making it one of the largest and successful network-marketing corporations. Legal programs of Pre-Paid Legal are distributed by the Independent Business Owners (IBOs). In fact, you can access and obtain legal plans through PrePaid Legal on one-to-one basis.

One of the most important things that this MLM Corporation offers is mental peace, as you are aware of the fact that, you have legal representation with no threat of identity misuse. If you are looking for some kind of legal services or advices on any general legal matters, this MLM Company will help in solving your problems. As the requirement for legal service is increasing in various spheres of life, the costs for legal representative are also increasing. Therefore, Pre-Paid Legal is making accessible plans on monthly basis that are similar to car accident insurance or health care insurance.

Checking the credit history of any borrower is the most important step in any lending process. Lenders do this for obvious reasons but most of the borrowers hate undergoing credit checks, which disclose their credit history to strangers. This is especially true for those having poor credit history or frequent defaults. There are many reasons for which people like a no credit check loan. It could be that they do not have any credit history or they do not want to undergo the humiliation of a credit check. Whatever the reason might be, but the fact remains that the lender does not have a clear picture about how a particular borrower has fared in the credit market and how good is he at the repayments. Indeed, the risk is greater for the lenders in giving a loan without any credit check.

Getting a No credit check secured loan [http://www.easyfinance4u.com/secured_loans.html] is quite difficult if you do not have any collateral to offer. A positive credit report is something, which gives comfort to the lenders. In the absence of a collateral and credit check they impose strict conditions for lending. A proof of continuous employment and a minimum salary limit is required to get a no credit check loan. The amount lent in this case is also small, usually proportional to the salary of the borrower. Therefore, if a borrower is unemployed and is not able to convince the lenders by his monthly income, the only way that he can get a no credit check loan is by offering a sufficient collateral.

When a collateral is offered the loan is called a secured loan. After finding that the collateral is sufficient to guarantee the loan amount, the lenders don’t press for a credit check on the borrowers. The presence of a collateral provides them the solace that if a borrower defaults or is unable to repay, they can repossess the collateral and recover their amount. Based on this fact, the lenders give the no credit check secured loan, albeit a bit cautiously. The major things any lender verifies besides the collateral are the identity of the person concerned and his checking account details.

Though the lenders have a collateral, but the last thing they want is to get into the costly and time-consuming process of repossession of the collateral. They give the money presuming that it will be returned with due interest, within the stipulated time frame. Since, they are lending purely on the basis of the collateral and do not have a clear picture of the borrower’s credit history, they charge higher interest rates. So, the borrowers must be ready to repay in higher monthly installments if he wants such a loan. The amount lent, in case of no credit check secured loan is also significantly less than what otherwise would have been, had the borrower undergone a credit check. The lenders may give any amount up to 70% of the collateral’s value; anything above this value will not find favor with them.

The borrowers can use no credit check secured loan, for any purpose they desire. Since the interest rate on such a loan is on the higher side, it will be good if the borrower judiciously shops around for the lender with the best possible offer. Any offer with a low interest rate can save a fortune for the borrower. This could be vital if the financial condition of the borrower is quite precarious and will definitely prevent him from falling into a debt trap.

The lenders closely watch the repayment schedule of a no credit check secured loan. Any default is penalized heavily and since the tolerance limit is low because of the higher risks involved; the lenders are prompt in repossessing the collateral. Looking on the positive side, a prompt repayment of no credit check secured loan can work wonders for the credit history of the borrower.

Hearst Newspapers has written an extensive article about the prevalence of medical mistakes and how they are the #1 cause of accident deaths in America. You can read the story on the Seattle Post Intellingencer’s web site.

The article states that 98,000 people die every year from medical mistakes. This is more than the number of people killed in the 9/11 terrorist attacks on the World Trade Center. Also, more than 99,000 patients succumb to hospital-acquired infections, and most of these deaths are clearly preventable.

Hearst reports that there is a prevalent “veil of secrecy” among hospitals when it comes to reporting the mistakes and the circumstances surrounding the preventable deaths of patients. It appears that among states that are participating in healthcare safety campaigns, just 20% of the hospitals in these areas are participating. You would think that the medical mistake-death statistics would provide some incentive for most if not all of these hospitals to participate in a campaign designed to reduce mistakes and prevent unnecessary mistaks.

The case of Michael Blankenship

A 15-year old boy sought dental treatment at the dental clinic of a well-known and highly respected hospital that specializes in treating children. Michael Blankenship had autism, but he received regular treatment at this hospital.

When Michael was discharged the hospital’s chief pediatric dentist made a fatal mistake. She prescribed a Fentanyl “pain patch” because Michael’s mother informed the hospital that her son could not, or would not, ingest oral medication due to his autism. This fact had also been recorded in Michael’s chart years earlier.

The dentist prescribed Fentanyl, a very potent narcotic that is designed to treat chronic pain patients. According to the drug’s warning label, Fentanyl should never be prescribed to an opiate-naive patient like a young 15-year-old boy who had no history of using narcotic medication over a long period of time. And the drug should never be used to treat acute pain, or pain following surgery on an as needed basis.

But Michael’s dentist prescribed the highest dose available, and instructed mom to apply the patch later that evening. Even the hospital’s head pharmacist failed to detect the mistake, and also told mom again that the prescription was accurate and the dose safe.

Michael’s mother did as instructed. The next morning Michael was found dead in his room. The Fentanyl patch delivered so much of the narcotic to Michael’s system that it caused respiratory arrest and this caused his death. As you can imagine, Michael’s mother is devastated.

The whole family is now suffering over what was a very preventable mistake. It never should have happened had there been appropriate safeguards in place by the hospital.

A dentist decided to prescribe a lethal dose of a narcotic that never should have been prescribed in the first place. The dentist merely had to consult the Physician Desk Reference (a reference book that most physicians have in their office) to discover that there were at least 5 warning signs in Michael’s case which would have informed any reasonably competent doctor that the drug should not be used at all.

What can we do as a society to prevent medical mistakes? The first order of business is to communicate how prevalent mistakes are in our hospitals today. Yet the doctors and the state medical association consistently spout propaganda to deflect attention of these mind-numbing statistics by arguing that doctors should be immune from mistakes so lawyers can’t sue and obtain million dollar jury verdicts.

I’ve never seen a multi-million dollar verdict against a doctor or hospital that didn’t involve a horrible injury or the needless death of a patient. When negligent physicians and hospitals maim and kill, they cause a substantial amount of suffering, pain, and usually an extensive neeed for future medical care.

Just a few years ago the Washington State Medical Association waged an aggressive campaign to limit damages recoverable in medical negligence cases. The doctors argued that physicians were having to leave the state in record numbers because of outrageous insurance premiums. The measure was soundly defeated by Washington citizens. But word is that the WSMA is planning its next attack in the coming years.

The article by Hearst has again raised awareness of a problem that no one, not the local and national governments combined, has addressed through public attention and intelligent disclosure laws. If hospitals were forced to report all incidences of negligence, then I believe more would be done to avoid the mistakes in the first place. But the healthcare industry has continued to fight against reasonable reporting and disclosure laws.

Mortgage loan modification and refinancing used to be as eventful as changing one’s shirt on a hot day. Nothing difficult, sexy, or exciting. With home prices plummeting, you may need professional or government help to pull it off.

President Obama’s aggressive rescue plan calls for:

* restructuring distressed mortgages
* keeping struggling borrowers in their homes
* reworking troubled loans
* installing a floor beneath falling property values
* helping up to 4 million homeowners

The Obama administration has set aside $75 billion to prevent defaults and foreclosures even though 52% of loans modified in early 2008 went bad again within 6 months.

Mechanics of the loan modification plan:

* the loan servicing company reduces monthly mortgage payments to no more than 38% of the borrower’s gross monthly income

* government acts to reduce these payments down to 31%

* to get to 31%, the loan servicer will first reduce the interest rate to as low as 2%

* if not enough to reach the 31% threshold, the loan terms are extended up to 40 years

* if still not enough, the servicer will forebear (not reduce) loan principal at no interest

Writing down the principal to make the mortgage loan balance less than the home’s value is critical. Anyone left “underwater” – mortgage greater than home value – would have an incentive to default.

You would think the banks would have every reason to embrace the Obama plan, given the REOs already on the books. I guess their lobbyists in Washington wanted an even sweeter deal – at taxpayer expense.

Incentives:

* loan servicers will receive $1,000 (your tax dollars) for each mortgage loan modification completed

* servicers will receive an additional $1,000 per year for up to 3 years if the borrower is making payments on time

* borrowers will receive $1,000 knocked off the principal each year for 5 years if they make payments on time

No cash incentives are awarded until modified loan payments have been made for at least 3 months.

As with all government programs, strings are attached. The government states that it is out to assist responsible homeowners who were caught up in a historic housing slump.

Caveats:

* house must be owner occupied

* owner occupancy will be verified through credit reports

* the mortgage must have been written before January 1, 2009

* the outstanding principal balance must be $729,750 or less (don’t know how they came up with this figure)

* borrower is required to sign an affidavit of financial hardship and to verify income

* modified loan payments will remain in place for 5 years

Verification is likely to be more stringent than for the original mortgage loan. No more “wink and a nod” loans through shady mortgage brokers.

Loan servicing companies will determine whether or not to modify a loan by using a “net present value” test. The test compares expected cash flow if the loan is modified against performance projections if it is not.

The test is a clever way to placate bankers and investors. When the federal subsidies are included in the formula, modified loans are a better risk for investors.

What remains unclear under the plan is how to deal with second mortgages and equity lines of credit.

Will it work? I’m not sure, but I do believe it’s a lot like chicken soup for the homeowner – it can’t hurt.

If you are a homeowner on the ropes, I would not attempt this on my own. The paperwork alone should be staggering. Work with professionals who know the system and any alternatives available to you.

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The need for having a commercial general liability insurance coverage is paramount if you are running a business or commercial establishment of your own so as to protect you against the many liability claims that you may be subjected to.

Commercial general liability insurance protects you against those liabilities that might be incurred as a result of your business dealings with customers or other individuals or organizations. There are many types of liabilities that could be claimed against you and your business.

These include claims for personal injury or bodily injury suffered by a customer at your place of business or a claim arising out of faulty goods and service delivery. There might be also instances when you might face a worker’s compensation claim for injuries suffered at the workplace by your employees.

The most common causes for liability claims are usually slip and fall accidents in which customers are involved and which take place at your place of business as well as accidents that involve your employees during their course of employment with you.

A commercial general liability insurance policy protects you from all these liabilities and many more by paying for the damages or by reimbursing you. In the event that a claim made against you is successful, you stand to lose a lot. A successful claim usually means that you end up paying increased amounts as monthly premium towards your policy. The reason is that you are perceived as high risk by the insurance company with each claim that is successfully made against you.

General liability insurance protects you from various liabilities that you might incur, namely personal injury liability which also includes bodily injury, property liability claims, workmen’s compensation claims and also claims arising from advertising injury. Irrespective of whether the claim against you is false or genuine, you stand to gain from the protection given by your coverage instead of having to go in for a million dollar settlement with the plaintiff. The policy protects you and your business from suffering the ill effects of litigation.

Establishing credit worthiness and building corporate credit are two goals that are essential to the growing business. Serious business owners will never be turned down for a loan or won’t have to use their personal credit in order to finance their business if they are building corporate credit. Business proprietors must act to establish corporate borrowing power prior to making applications to obtain loans, leases or credit.

It is very important to start building corporate credit early in your business career. Any mistakes you make may have an adverse impact on your capacity to establish corporate credit. It is simple and quick to obtain corporate credit with the assistance of the pros at United Business-Credit. This enables you to concentrate on your business rather than being concerned with establishing corporate credit.

It takes time to build up business borrowing power. It’s not possible to suddenly determine that you require funds and drop in at a bank anticipating being given a loan. Businesses have their own credit scores just like your personal credit score.

A score of 75 is thought to be good, with the credit scale for business being in a range of 0 to 100. There are a few different companies that maintain information and decide on business credit scores. There are only a small amount of businesses reporting this information, as this is voluntary, and this is a problem. Locating them and obtaining credit with them is very important for establishing business borrowing power.

Higher credit-card spending limits and applying for and receiving bigger loans are the benefits of building a credit profile. It is similar to building your personal credit, in a way. In the beginning, you most likely obtained a credit card with a limit of only a few hundred dollars, but you could borrow thousands after just a few years, enough maybe to purchase a house or finance a new car.