How to Inventory and Assign Value to Estate Personal Property

There is an old saying that goes: What is the best way to eat an elephant? One bite at a time!

Personal property is the elephant of an estate. It is the responsibility that can take up most of your time, and it provides the estate with the least amount of money for the effort involved. But, dealing with the personal property cannot be avoided. The property must be inventoried, valued, distributed, or sold. Let us start our analysis by looking at what property we have (inventory); then we will determine what it is worth (valuation). In a future post, we will determine what to do with it (distribution/sale).

When you go to the courthouse, the clerk will provide you with the form you will need to fill out for the inventory. The form will ask you to provide general categories and a value for each category you have listed. For example, you would list: furniture, $1500; office equipment, $300, etc.. You will not have to list the items separately, such as sofa, $100; chair, $5; typewriter, $25. I suggest that you do keep a list of the individual items, though. Although you will not have to go into a lot of detail for the court, you will likely want a more detailed inventory for yourself. You will want this for two reasons: to track the sale of estate property, and to protect yourself against claims of heirs and/or creditors.

You do not have to get real fancy with with the inventory; pencil and paper will do. If you are so inclined, there are home inventory record books available at office supply stores, or you can purchase software online. There are also companies that specialize in taking home inventories.

You will need a helper. One person sorts and counts while the other writes. Start inside the house, and work your way from the top of the house to the bottom. Go room to room with a consistent pattern so that you do not miss anything: always clockwise or counter-clockwise around the room. Write down what is on the walls as well, not just what is on the floor. For small goods, write down identifiable groups of items such as 200 hardcover books, 100 paperback books, 42 nick-knacks, etc.. On your list, put a star next to any item that you think may be valuable. If the nick-knacks are porcelain and the books are first editions, they are valuable items. When you are finished, follow the same procedure for the outbuildings: the garage, shed, workshop, or whatever. If there is a rented self-storage unit, vacation home, recreational vehicle or boat, they will need to be inventoried as well.

When you file the inventory at the courthouse, you will need to state a value for the personal property. For run-of-the-mill household items, a good resource for determining the value is the software program It’s Deductible that comes bundled with the income tax program Turbo Tax. It’s Deductible can also be purchased separately. The software lists the thrift shop value for most household items, and it is easy to use.

For the items that you have identified as being valuable, It’s Deductible will not work. There are several ways to determine the value of single items or collections. A good place to start is eBay ( http://www.ebay.com ). To use eBay to help set your values, you will need to be a registered user. Registering for eBay is free; just follow the instructions when you get to the website. Once registered, type in the item you are researching, and eBay will search for the item. When the search results come up, scroll down and look on the left side of the page to where it says Search Options, click on completed listings, then scroll down further and click on Show Items. The search results displayed will be for completed auctions, not for auctions in progress. The prices listed in green are items that actually sold; the prices in red are for items that did not sell. If you find your item listed, and the price is green, you have a good value. Compare the details of the item you found on eBay with the details of the item you have. Use the closest match as your value.

If you are unable to find your item listed on eBay, it is time to go to the library or bookstore. There you will find an assortment of price guides for every sort of antique or collectible. You will also find blue books for automobiles and equipment.

If you have lots of items and no time to research, then it is time to call in an expert. In your local phone book you will find jewelers, antique dealers, auctioneers, appraisers, and other professionals who will tell you what the property is worth. What they will offer you is an opinion of value, not an appraisal. An appraisal is based on actual sales data, not an opinion. I will cover appraisals below; for now, just be aware that there is a difference. For probate valuation purposes, the value placed must be the fair market value at the time of the decedents death. This is the value you should ask your expert to provide.

In my home state of Virginia, individual items or collections that are valued over $500 must have an appraisal. Personal property appraisers are not licensed like real estate appraisers, but the content of their reports is regulated. For a personal property appraisal to be valid and accepted for tax purposes, it must be performed by a qualified expert and follow the federal guidelines of the Uniform Standards of Professional Appraisal Practice. Most real estate appraisers do not appraise personal property. You can find a personal property appraiser online by checking the websites of the Certified Appraisers Guild of America, the National Association of Auctioneers, or the American Society of Appraisers.

Estate Executors will find that the inventory and valuation of estate personal property is their most time-consuming task, but there are resources available to help.

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The Pros And Cons Of Funeral Insurance

Funeral insurance, also known as burial insurance is a type of insurance created to pay for the costs of memorial and internment services. Nowadays, many people especially those who are not getting any younger are getting funeral insurance to deal with the costs of burial and funeral services when they die.

Most of these people do not want to leave any type of burden, especially financial burden, to their loved ones. Some of the costs covered by insurance policies are cremation, burial, plots, music, flowers, taxes and even medical costs. Before purchasing funeral insurance, an interested person must consider things such as the location of the cemetery, arrangement and expenses of the funeral, cost of cremating and buying caskets or urns.

Aside from these considerations, he must also determine the advantages and disadvantages of this kind of insurance:

Cash to Shoulder the Funeral Arrangements. The insurance company will give the grieving loved ones lump sum cash that they can use for funeral arrangements. The amount of cash usually depends on the type of funeral insurance policy that the dead relative has purchased.

A Car to Make Funeral Arrangements. While the family members are on the verge of arranging matters of his funeral, the insurance company will provide a car to make sure that they still feel comfortable while dealing with his death and getting ready for his interment at the same time.

Bonus Monthly Payout. The family members who the insured person has left will be receiving monthly bonus cash from the insurance company. This amount of money is expected to help pay out for bills covering food and utility.

Chosen Funeral and Burial. A good thing about having a contract with an insurance company is that when he dies, he will have the memorial and interment services according to his will. He will have a funeral and burial that he thinks he describes.

Get A Tombstone. With the services that the company covers, the family members can choose a tombstone that will serve as its memory.

The disadvantages of purchasing funeral insurance are:

Insurance Policy May not Pay in Full. There are some companies offering funeral insurance that have waiting periods. These periods can reduce the benefits of the insured person. There can also be times when there can be no benefits at all. Some insurance policies can decrease in value as time passes by.

Insurance Policy May not be an investment. A person who chooses to have funeral insurance will have no control on how his money will be endowed. Another thing is that some companies offer very little interest rate. And lastly, some insurance policies are overpriced. This means that some of these policies cost more than the cost of funeral coverage. A person planning to get one must remember that by purchasing one means he is paying more premiumss than collecting insurance claims.

With the advantages and disadvantages of funeral insurance, a person can see that it will be highly recommended to apply for a funeral insurance policy that will fit his needs and requirements.

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Tips On How To Clean Your Dirty And Smellygage

Your luggage travels in different conditions. The rain, the muddy pathways and the dirty pavements can all make your luggage dirty and smelly. If you do not take good care of it, your precious travel bag can wear out faster.

Cleaning your dirty and smelly luggage should not be too daunting. Let me tell you some tried and tested cleaning tips:

1. Vacuum your luggage. Try to get rid of as much dirt and dust from your travel bag as you can. Also vacuum the casters and the interior of the bag. You might want to use a vacuum machine with a good filter to effect suck minute dirt and dust particles.

2. If you are using a canvas luggage, try cleaning it with a mild dish washing liquid. Mix two drops of the dish washing liquid in two cups of warm water. Soak a sponge or a clean towel in the mixture. Wring out the excess. Use this to wipe the interior and the exterior of the machine.

Make sure you remove dirt particles. Also wipe away dirt and crusty mud on the wheels of the luggage.

3. For your leather luggage, try to get rid of the mud using a leather polisher. Apply leather polisher on a clean rag. Wipe it all over the bag.

4. Get a soft bristled brush and use this to remove dirt particles in the zippers, wheels and the handles of the bag. You can try soaking the brush in the dish washing liquid solution first. This will loosen up the crusty mud or dirt.

5. Sprinkle baking soda on the interior and exterior of the luggage. Leave it on for an hour. Baking soda can effectively diffuse unwanted luggage odor. This will also help get rid of lingering stains and dirt.

6. After an hour, vacuum the travel bag again to get rid of the baking soda residues.

7. To deodorize the luggage bag once again, try spraying it with lemon juice solution. Just mix one cup of lemon juice with one cup of water. Place it in a spray bottle. Spray it all over the luggage. This should work in diffusing unwanted bag odor.

8. Let it dry completely. Place the bag in an area not directly exposed to the sun.

If you are traveling during rainy seasons, make sure you use a luggage cover for your bag. These can be purchased from travel bag stores. They can protect your bag from further damage.

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Rental Property – The Responsibilities of the Renter and the Owner

When you rent someone’s property, it’s good to know how what your responsibilities are in order not to have inconvenient situations. When some people rent someone else’s property they think that they are responsible only for a few little things and the rest of responsibilities should be taken care by a leasing agent. But usually it is vice versa. When someone rents a house or apartment, they are usually obligated to sign a contract where all the responsibilities of leasing agent and renter are fully described. In case if something happens both parties understand what they are responsible for.

Responsibilities Of Renters

Normally, renters bear responsibility for the area that is around their apartment and for the apartment itself. Usually, these are areas inside the apartment as well as their backyard. So this includes common sense responsibilities and rules of maintenance and cleanliness of the area. Such things such as repairing certain parts of the interior or the exterior or painting the walls are the responsibilities of the renter.

But still, this is not it. Renter is responsible for some other things in leasing agent’s house. If something happens with the bathrooms, the renter is also responsible for fixing it if it’s possible. But if such things happen and that renter doesn’t feel comfortable to accomplish this job she might contact the maintenance contractor for proper help.

Renters must know their responsibilities and always show respect to other renters in their area and not cause damage intentionally. Not picking up trash after yourself if you left it somewhere is the same as intentional littering. Renters that don’t follow these rules are fully responsible for their actions and might be forced to pay fines.

Responsibilities Of Leasing Agents

If something happens with that exterior of the building or the equipment is not working properly then it is the responsibility of the leasing agent. Leasing agent is always supposed to take care of his renters and make sure that they are always provided with all the necessary utilities and that everything is working properly in his apartment. For instance, if problems with water occur in the apartment then the leasing agent he supposed to contact maintenance staff.

And also, one more of responsibilities of a leasing agent taking care of public areas. This is usually that surround that area of the apartment, such as grassy parts of the land.

So basically, the leasing agent is always has to take care of his renters and make sure they don’t have any complaints or concerns. If the leasing agent doesn’t pay attention to any complaints that he’s renters might have, this may lead to having problems with clients or with the local housing authority. Again, if the client or the renter is not provided with what he expected and paid for, he will be very disappointed about the maintenance service. In these cases renter might call a maintenance company to resolve the situation and bill the expense to the owner.

So before you rent an apartment to a renter as a leasing agent make sure that both of the above are working fine. A renter faced with this kind of problems, can contact the department of housing and ask them to provide advice what to do in this situation.

In some cases, leasing agents may break their rules of that agreement and disobey points of the contract. The department of housing is usually responsible for enforcement in this kind of situation and if the renters still have complaints, they have the authority to force the owner to provide a remedy.

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Insurance Claims – Get an Advance Payment!

Insurance claim advance payments are not widely known by people who file claims. Often, when an insured has a loss of significant size, such as a flood, tornado, wildfire, hurricane loss or a big water damage loss, an advance payment of a portion of the anticipated settlement is issued by the insurance company. This situation also happens regularly when a business has a loss and needs money up front.

It is a customary and widely accepted practice for the insurance company to issue an advance payment in this type of instance. Be aware that there’s nothing in the standard property insurance policy that deals with advances. It is usually just a courtesy that the insurance company extends to their policyholder.

However, they don’t usually offer to do it. You have to request the advance.

Here’s an example. Joe Smith’s house is hit by lightning, and a fire damages most of the house. Joe’s policy has Building limits of $100,000, Contents limits of $50,000, ALE limits of $20,000. The house can be repaired for $70,000, which is less than the policy limits. However, the adjuster expects that the Contents loss will exceed the policy limits of $50,000, and the ALE loss will be $15,000. The adjuster sends in his first report to the insurance company, and tells them to expect the loss to be approximately $135,000 on these three parts of coverage.

The insurance company could easily issue an initial advance payment of $25,000 to $35,000 for Contents and ALE, and $40,000 to $50,000 for the Dwelling loss.

So, what do you do if your Contents are damaged and you need the most basic things, like a change of clothes and shoes? What if you need to have a contractor secure the building and put tarps on the roof to keep further rain out of the building? Most people do not have tens of thousands of dollars just lying in their bank accounts that could be used to begin repairs, or begin replacing personal property. That’s when the insurance company issues an advance.

It’s best to make your request in writing. Even if it’s just a hand-written letter, it’s best if it’s in writing. Write or type your request, keep a copy for your records, and give the copy to your adjuster. It’s also a good idea to send a duplicate copy to the claims department of your insurance company. Send it by overnight courier or certified mail. NEVER rely on the adjuster to ask for an advance on your behalf. He might get delayed with other work and it could be days before he asks. DO IT YOURSELF.

Take control of your claim, my friend! Make an EARLY request in the claims process for your advance payment!

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Geode Crystals & Astral Travel

Astral travel can be enhanced by working with crystals and their vibrational field levels during your session. But where do you start and how to help? There are many different suggestions for this, as well as different ones will resonate within different people and their energy fields.

A good place to start is by working with the crystals you enjoy the most. If you are not sure where to start, go with your intuition and follow your gut instincts as they will not steer you wrong.

A wonderful way to work with them in astral travel and meditation sessions are in geode form. The best ones I have come across that have the highest energy vibrational level are clear quartz, amethyst, citrine and calcite. It is best to work with just one type of crystal within the geode, but you can combine them in your circles if you wish. The energy field will be a combination of the different types and will have them make a weaving type of pattern within the energy field. This is a very unique type of field to work within, but may not always be the best, as opposed to a single type of stronger vibrational field you would receive with just one type of geode.

During your astral travel session, surround yourself with as many geodes as possible, in a circle, or alternating the type of crystal found within. The more the better, and even if they are small, the geodes still put out a lot of vibrational fields for you to work within!

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What Is the Difference Between an Heir and a Beneficiary?

The term ‘heir’ refers to a person who is entitled to property owned by a deceased family member. Individuals can bequeath property to heirs through their last will and testament or a trust. When a person dies without leaving a Will, their assets are given to rightful heirs according to state probate laws.

An heir can be a surviving spouse, minor or adult children, mother, father, or siblings. Heirs can also include direct lineage relatives such as aunts, uncles, and cousins. Individuals can bequeath property to whomever they desire. If they gift items to anyone outside the family, those individuals are referred to as beneficiaries. Although somewhat confusing, heirs can be beneficiaries, but beneficiaries are not always heirs.

The only way to ensure property is distributed according to your wishes is to execute a legal Will. When property is held in a trust, the Will is used to provide directives regarding distribution. Unless inheritance assets are placed into a trust, the estate must undergo the probate process.

Probate is required to settle decedent estates. Two types of probate exist – testate and intestate. Testate refers to estates which include a last Will, while intestate refers to estates where no Will exists. The probate process varies depending on the type. Intestate estates take longer to settle because additional procedures must be taken.

The last will and testament is also used to designate a probate personal representative. This person is responsible for all tasks required to settle the estate. This can include paying any outstanding debts owed by the decedent; filing a final tax return and paying outstanding taxes; obtaining appraisals for valuable property; securing personal property owned by the decedent; and distributing inheritance gifts left to heirs and beneficiaries.

The last will can also be used to disinherit an heir. When a person decides to leave a direct lineage relative out of their Will they must include a disinheritance clause which states the reason for exclusion. While this clause does not prevent heirs from contesting the Will, it can minimize the risk. If a disinheritance statement is not included, heirs can prolong the probate process by claiming the decedent was influenced by another person or not in their right mind when executing the Will.

Contesting a Will is a costly process that often bankrupts estates due to excessive legal fees. Those who have direct lineage relatives whom they do not want to bequeath gifts to should consult with a probate lawyer to ensure their Will is properly executed.

Engaging in estate planning can keep certain assets out of probate and allow quick distribution to heirs. Individuals with checking or savings accounts can designate beneficiaries to receive funds at death. This is referred to as payable on death (POD) beneficiaries. Account holders must fill out POD beneficiary forms to provide the names, addresses, date of birth, and social security number. Upon death, beneficiaries must provide photo ID and a copy of the decedent’s death certificate to claim funds.

Individuals with retirement accounts or financial portfolios can assign transfer on death (TOD) beneficiaries. Upon death, heirs can elect to transfer funds into a new account to avoid estate taxes or cash-out the account. It is best to consult with a tax attorney to discuss tax ramifications before accepting lump sum cash.

Executing a last will and testament is one of the best gifts you can leave loved ones. Wills should be updated when major events occur. These might include buying or selling real estate; starting or closing a business; or when a new heir is born or a designated heir dies.

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The Pros and Cons of Discount Travel Clubs

If you love to travel, but can not seam to do it as often as you would like, you should consider looking into a good travel club.

My wife LOVES to travel the world as I am sure many of you do, but it was always so expensive. I am here to tell you, it does not have to be.

This is how travel clubs work.

When you think about it owning a resort property is just like any other business. They need a steady flow of customers to be profitable. Their unique challenge is, they also need a consistent flow of customers preferably evenly spaced through the entire year other many issues start to become problems for them. To many customers all at once is lost business, probably to your competition. Not enough customers means empty rooms and lost business and revenue, which makes staffing as well as many other things VERY difficult.

The challenge is to keep a steady flow of customers, preferably even spaced all year long. But how do they do that?

One way resort owners have discovered to help with this is by affiliating with travel clubs to offer club members unreserved rooms at deep discounts. This helps keep a steady flow of customers all year long, and helps the owner keep a properly staffed business running.

Think about it from their perspective, would you rather have an empty room and NO income, and have a staff to pay with no customers to serve or income being produced? Or, to keep a good quality staff busy, have customers that may only be paying enough to cover your expenses with little or no profit?

It does not take long as a business owner to figure out that "when possible" you sell at full price, when necessary you take a discount and less profit, and when push comes to shove at least cover expenses to avoid taking a loss.

Even taking some loss is acceptable if it helps with staffing issues, inventory, food shelf life, advertising, budgeting, exposure and many other business issues. As long as it is not the norm, obviously.

Now, keep in mind, all travel clubs are NOT created equal.

The owner of the travel club is also doing business. He wants to provide his members with an attractive offer to build membership, but also wants to make money in HIS business, which IS the travel club. If the owner is more concerned about profit, than they are about giving value to their members, that club has a limited future.

The saying that just popped into my head was "It is better to have a little bit of something, than a whole lot of nothing."

The resort owners are constantly negotiating transactions (level of discount) with hundreds of travel club owners.

The owner of a particular travel club may have negotiated with the resort owners the best prices for his club, but if he is trying to make to much profit with his travel club, his members would not be getting the best deals!

It is very hard to negotiate regardless, without something the other party wants. Therefore, the more members you have in your club the easier it is to negotiate great deals. But getting lots of members is no easy task in itself.

The most successful travel club owner has figured out how to build a large following (with minimal cost) so they have the leverage to negotiate great deals other clubs can not, but because of their low overhead they can pass most of the savings along to Their members.

We all know that the BEST form of advertising is, word of mouth. As luck would have it, it is also the least expensive. (Free) So, if you (as a club owner) were to pay your current members (for new memberships) to advertise by word of mouth or however they choose, and generate members for you just by telling potential members about your club and the Huge savings they had received, you would have a growing membership with minimal expenses, therefore, you could pass dramatic savings on to your members which in turn would help generate more members more easily and get better discounts.

As I stated earlier, not all travel clubs are created equal, just as with any other business. You must do your research to find a club that offers a large inventory of locations, at deep discounts to its members, without charging too much for their membership. That travel club will continue to grow in size and value, and provide you with a lifetime of deeply discounted travel for minimal cost so you can travel the world and enjoy what the world has to offer.

Travel clubs can be a great opportunity to save your hard earned money. Just make sure you do your research and find the right one, otherwise you are not going to get the most value possible for your money.

Good luck, and I'll see you on the beaches of the world.

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The Importance of a Balance Sheet

An individual has two primary tools for managing personal finances. The Personal Balance Sheet is ignored and the Budget is the darling of Financial Consultants and the media. The key to understanding personal finances is that you have to understand your Budget and Balance Sheet individually and also how they work in combination to give you a complete snapshot of your personal finances.

Your balance sheet is extremely important because it shows you where the gold is. It is your personal Fort Knox. It is also extremely important because you need to have a stash of gold in your personal financial picture. The gold in your Balance Sheet is not the Assets. They are the positive side of your Balance Sheet but the real picture of how much gold you have in your Fort Knox is your Net Worth. So just as important to your Balance sheet is your Liabilities. The total of your Liabilities is subtracted from the total of your Assets to give you your Net Worth.

You fill out your Balance Sheet and total up your Assets and Liabilities. You subtract the total of your Liabilities from your Assets. That number, your Net Worth will come out to either a negative amount, an amount of or near zero, or it will be substantially positive. These are the only 3 scenarios possible.

• If your net worth is a minus number, you are not managing your financial resources properly. Your Balance sheet is your report card and you are failing. It is that simple. If you are managing your money to deal with life's challenges and planning your personal finances with your retirement in mind, your Net Worth should be positive and growing. If your net Worth is positive, you can ride out financial storms like the current situation. At the time of your retirement, your Net Worth must be substantially positive so that you will be able to keep costs down and have investment income to replace your working income. During your working years, your Net Worth should be growing steadily because a retirement nest egg does not grow without years of nurturing.

• There are circumstances where where it is acceptable to have a Net Worth of Zero or near Zero. The first is when you are just starting out. It just makes sense that it would be zero. You may have student loans but that is offset by some form of education that will allow you to make more money in the course of your lifetime. The key is that this is the best time to start building your net worth. It allows the principal of compounding value to work its magic on your assets for decades. That saves you a lot of work later in life. However, most of us are not that wise and we find ourselves in our 30s and 40s with little or no Net Worth. This means you have less time for compounding to work. So you have to work harder and especially manage your money smarter to prepare for the financial challenges you face going forward. The nice thing is that you have probably made some mistakes that have made you much wiser. You should be able to recover much faster than you would have in your undisciplined youth.

• If you have a positive net worth that means that you are building assets. Just as important is that you are controlling your debt. This is the key that has probably gotten you to this situation. The key to a positive Balance Sheet is that debt offsets the value of your assets when you look at your personal finances as a complete picture so your debt / equity ratio should be less than one and get smaller and smaller. Debt servicing saps cash flow on your budget that could have been used to build assets that can be used to produce income in your retirement years. Clear title ownership of assets such as your home reduce cash draw and this is incredibly important as you approach retirement.

The financial crisis we are in now is described as a Balance Sheet crisis. We are in this crisis because nobody was paying attention to their Balance Sheets, not even at the rising heights of our financial infrastructure. The symptoms were everywhere. While researching I found that the top sites on the internet for Balance Sheet are those who want to sell you something so that they can gain access to any assets on your balance sheet that might be left after this disaster. Before the disaster, the only thing that had any importance was whether a potential buyer of anything could afford to make the payments on whatever he was buying assuming he made 120% of his declared income. The most outrageous symptom was that people would take appreciating home equity and borrow against it to buy depreciating assets and consumer goods. They overbooked their budgets and now they have gutted their balance sheet.

The resulting loss of home values ​​is the disaster we have now where people have either a zero or minus Net Worth. The other aspect is that we are now wiser. For the good of our society and our financial infrastructure we had better be. Going forward we must pay attention to our Balance Sheets and recognize that is where the gold is. You must save and protect your gold. Net Worth is where financial power is and that is the Importance of a Balance Sheet.

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Four Unconventional Ways to Land a $5K Loan With Bad Credit

A lot of folks got lifted high during the early part of the 21st Century. Times were good and promised to be so for a long time. Fearless about future debt, many consumers over-extended themselves. The economy fell flat thanks in part to this vast over-extension and the banking and mortgage industry that fed off of it.

As a result, loans came due with no cash flow to pay them. Foreclosures became normal. Credit card companies felt the pinch as members defaulted. Credit ratings suffered greatly. Presently, those folks have no recourse to any venues that could offer them any financial relief. A minimal $5,000 bad credit loan is unreachable.

People in this situation do have some options that they should consider while they try to rebuild their financial lives as well as their financial credibility. These options are perhaps not those that they would normally consider, but the times are not normal.

One: Familiar Loans

In one way this is the best scenario to get a much needed cash injection. In another, it could be the worst. Embarrassment is probably the biggest bar to approaching friends or family members for cash to get you through tough times. On the other hand, the terms for repayment can be quite flexible and interest rates can be low or nonexistent. Certainly, a loan such as this does not require a credit check. It would be wise and friendly to draw up a contract so each party knows what is expected.

Two: Salary Potentialities

Should a person in need of cash be to uncomfortable approaching family or friends, they might look to the workplace. Some progressive companies have opportunities for employees who have hit on hard times. A credit union may serve the company and it may be very happy to extend a loan at low interest rates and easy payback terms. If there is no credit union, sometimes an employer can be approached for a loan that can be deducted directly from future paychecks. Sometimes this sort of loan is available to promote loyalty and productivity.

Three: Non-Traditional Bad Credit Loans

Should the previous venues turn up dry, unsecured personal loans are available, either locally or via online lenders. Traditional lenders such as banks are not going to be forthcoming with any help for borrowers with poor credit. Online lenders do not consider credit scores and are usually eager to grant unsecured loans in the range of $500 to $10,000. The requirements are few; having steady employment and a bank account are often enough. The application process is easy and you can usually have cash in your account within 24 hours.

Four: Neighborhood Pawnshops

Do not cringe. For centuries shops such as this have been able to offer affordable loans to people in the community who find themselves a little shy of cash from time to time. Your loan will require security in the form of personal property offered as collateral that is equal to the worth of the loan. You will sign a document acknowledging your obligation. If you do not return to redeem the collateral, the shop is allowed to sell it to cover the loan.

No matter what sort of credit history you may have, you should be able to put your hands on some cash using the outlets described above. Just be sure you do not allow yourself to become a victim to any sort of fraud. Just be sure any money you do get is used responsibly and paid back according to the terms of any agreements.

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