Bankruptcy means a person or an organization is not in a position to repay its debts to their creditors.  It is a legal declaration by the individual or organization that he has no assets of his own in terms of property, equipment or hard cash to pay the debts they owe to creditors.   There are various factors that can lead to the state where somebody becomes bankrupt.  A person starts a business by purchasing office space, furniture, raw material for production in case of manufacturing company, etc.  He either avails all these from his own money or takes a business loan from a bank or financial institution.  If he takes a loan there is an agreement between the person and the institution of repaying the loan in EMIs as per the agreement.   Once he starts the business, he earns  [...]

  Loan is something that almost every person requires for some or the other reason.  Some banks do provide cash advance in as short as 48 hours duration but only some persons qualify for it due to the terms and conditions. In U.S. there is something called as Payday Loan.  Loan against payday means loan against your next due pay.  In simple terms, it is referred as a cash advance.  This is a very short-term and unsecured loan, and not necessarily related to borrower’s payday.  Payday loan means one can avail of some cash up to certain amount (percentage of his next pay due), For some loans you may need to have a very good credit rating but with payday loans this is not the case.  If you meet the eligibility criteria, the lenders will do everything that might help you in availing  [...]

It has often been observed that your hard earned money at times lands up in wrong places at the wrong time, and all thanks to the financial advisor appointed by you. You may have trusted your hard earned money to a financial advisor, who may honest but may not be savvy to the volatile market and in the process you may lose all your investments. It is imperative to check the back ground, and other aspects of your financial advisor before you trust and entrust him with all your savings. To select your financial advisor you must look for someone who is very experienced in the financial markets, has an impeccable track record, has clarity of thoughts and actions as in financial markets you have to take a call on a spur of moment, has rational and lateral thinking power. He should be a balanced  [...]

  Credit card frauds on the rise in India and the amounts defrauded are staggering, whereby the banks and the credit card holders are incurring huge losses. The most common frauds committed by the fraudsters is using the modus operand of skimming, where with the help of a simple device the fraudsters capture your important details and retrieve the information to commit frauds and misuse the card. The other fraud on the rise is by the way of making online- payments by misusing your credit card. Credit card companies have decided to implement a fool proof method whereby the card holder will not be responsible for the payment in case of a fraud if the second level authentication is not used and any amount that is debited to your card will be returned. In the case of physical swipes, the  [...]

You are bound to get excited when you are issued a credit card by a bank.  The reason for excitement is that you don’t have to pay hard cash at the time of purchase or shopping, but you have to keep in mind that it is only an ease of payment and you are given a credit of a period of time.  Since you don’t have to pay at the time of purchase or transaction you are making, you may tend to spend a little more here and there.  But one should take care while using the credit card.  You have to check your budget definitely before you spend.  Visa and Master Cards are the most popular cards offered and a general credit of about 30-45 days is offered on such cards.  It may be that you may be paying for your current purchase in the next month, that is when you get the credit card bill, but  [...]

Debt when used carefully can be helpful in life hence if you use your credit card wisely it works for you, but if you get in to the credit card trap, it can be a night mare. To understand the credit card trap, you must understand that credit card companies do not really want you to pay in full each month, as their source of income from the credit card is the interest which they earn in case you make a part payment, and the balance you roll over from month to month with interest being charged, hence making minimum payment is not advisable and can lead you in to big financial loss by the way of interest paid. Bankers have the tendency to inform you the terms and conditions in fine print and hence read the fine print on your credit card statements to understand how credit card companies calculate  [...]

Gold prices are all set to rise in the New Year and the prices will reach to all time high, and after a long time the prices of gold are on the way to stability. The gold price according to financial analysts and trade pundits is expected to touch about Rs. 29000 to Rs. 32,000 in India this year. The factors that will contribute to the rise in the gold price are – The improving Indian economy, the growth of the economy has accelerated and the expected rate cuts in the interest rates will stabilize the gold prices. Fiscal cliff is another important factor and if it is not resolved in the US economy, it is bound to affect the gold prices and there will be a substantial gain in the prices of the gold. The demand for the gold has increased in comparison to the supply, and hence gold will  [...]