Category Archives: Financial

Credit Problems? Auto Financing is Possible with Consumer Portfolio Services

Buying a car is often a necessity for people who live in rural or suburban areas with little or no public transportation. For those who have credit issues, it can seem impossible to buy necessary transportation to get to work, school, medical appointments, and more. Fortunately, auto financing is possible with Consumer Portfolio Services.

Past Credit Problems

One of the most common reasons why people struggle to get auto financing is credit problems. If someone had unpaid bills or other credit issues, it can lower the person’s credit score and make lenders feel unsure about extended credit. Work with a finance company that specializes in providing indirect vehicle financing to have the most possible options.

Limited Credit History

If a person never had a credit card or loan, it could mean having little or no credit history. When lenders cannot see a pattern of repayment, they might not extend a loan for a car. Working with a dedicated service helps people with a limited credit history to get the auto financing they need.

Low Income

Many people work hard all week to earn a modest paycheck. They need reliable transportation to get to this job and consider getting a second job to earn more income. Qualifying for automobile financing can make a difference in the lives of low-income borrowers looking to make the most of their potential.

Dedicated Service

A dedicated financing service helps people from a variety of credit backgrounds to get the auto loans they need. Working with a quality service increases the chance of qualifying for auto financing to get a car or truck. Reliable transportation helps lenders move forward with their lives.

Competitive Terms

Auto financing should be accessible and fit into the budget of the borrower. Choose a lending service that offers competitive terms that will be comfortable to maintain in the years to come.

Trying to borrow money to buy a car can be difficult for people with credit issues. Using the right auto financing service can mean the difference between driving away into the sunset in a dream car or struggling to figure out the bus schedule.

Locals Help the U.S. Virgin Islands Recover More Quickly From Damaging Tropical Storms

The United States Virgin Islands is a wonderful place to live, but it also regularly faces serious challenges. Chief among these are the tropical storms that so often wreak havoc on the islands and will almost certainly continue to do so.

Especially because many residents of the territory are not well off, recovering from such disasters can be difficult. People like Kirk Chewning have taken the lead in recent years to help the U.S. Virgin Islands rebound more quickly after damaging storms make landfall.

Helping a Vulnerable Place Weather Intense Storms Better

Every Atlantic hurricane season puts the U.S Virgin Islands in danger, even if the territory escapes serious damage in most years. More regularly than anyone would like, a severe storm hits the islands head-on, leveling many buildings and causing other problems.

Even when residents take care to find secure shelter within which to wait out such events, getting back on track afterwards often proves difficult. Despite being a top destination for tourists from all over the world, the U.S Virgin Islands have never been especially wealthy.

Residents who have been fortunate enough to amass wealth and connections of their own, though, have increasingly opted to pitch in to help others. Chewning and other founders of local consulting firm Cane Bay Partners, for instance, established a non-profit that has been tasked with assisting with recovery after serious storms.

Much-Needed Resources and Support

That has made a significant difference in recent years, even after some of the most damaging storms in memory struck the islands in close succession. Offering up supply packages and other constructive responses quite quickly, nonprofits in the U.S Virgin Islands have helped make the territory more self-sufficient.

This has proved especially fruitful and significant because aid delivered from within the territory’s boundaries arrives more quickly and can be targeted more accurately. Instead of waiting many days or weeks for international help to arrive, residents of the U.S. Virgin Islands have been able to rely more on their neighbors for the support they needed.

While there are plenty of other steps that need to be taken, the value of this development should not be overlooked. Since the U.S. Virgin Islands will face many storms in the future, coming up with better ways to respond will always be helpful.

Financial Planning For Lifestyle Changes

In the Virgin Islands, lifestyle changes require a realistic look at finances and require consumers to determine what is most important. Several life events require sudden lifestyle changes for survival and better management of debts and expenses. A financial planner helps consumers create a better plan when they want a lifestyle change.

Lifestyle Changes After Divorce

After a divorce, consumers must evaluate their finances and adjust to a new lifestyle. For some, divorce improves their lifestyle in terms of finances. However, for others, the process could lead to further expenses each month and a need to create a tighter budget. New lifestyle changes require careful planning and evaluations.

Lifestyle Changes During Retirement

Retirement plans help consumers pay their expenses when they stop working. However, some lifestyle changes make it easier to cover costs and continue in the preferred lifestyle. Downsizing is a viable choice for seniors who don’t need a larger property. Some consumers choose a recreational vehicle over a permanent home. The lifestyle change makes it easier to travel and eliminates the cost of a mortgage.

Minimalist Lifestyle Changes

A minimalist lifestyle benefits consumers who need to reorganize their finances and save for more investments in the future. A minimalistic budget cuts a larger majority of luxury spending and helps consumers pay off more debt. The lifestyle change is extreme for some individuals, but it is advantageous for anyone who wants to minimize and settle more debts.

Saving for Travels and New Business Opportunities

Creating a fund for travel helps consumers find better solutions for these investments. A financial plan includes specific details related to the destinations and the best rates for hotels, transportation, and meals while in the area. A financial planner has a network of connections that helps consumers travel more without creating financial burdens.

In the Virgin Islands, lifestyle changes occur after divorce, during retirement, and even when expanding a family. When starting a lifestyle change, consumers start with a review of their finances and adjust according to their earning capacity. A financial planner assists consumers with sudden lifestyle changes. Consumers who want to learn more about managing lifestyle changes and related finances contact David Johnson Cane Bay now.

What Should You Know About Getting Auto Financing After Bankruptcy?

Going through bankruptcy can be stressful for individuals. Often, lenders will not even give people a chance if they have a bankruptcy on their record, even when it has been discharged. It is important individuals understand their options for getting auto financing approval, even if they have a bankruptcy on their record. With this information, individuals will be fully prepared.

Help for Getting Financed

Although it is more difficult to get auto financing with a bankruptcy, it is not impossible. The following steps will help individuals to get the approval they need, regardless of their credit score or past bankruptcy activity.

  • Researching lenders is crucial for being able to discover ones that handle past bankruptcy. Companies like Consumer Portfolio Services are committed to help individuals with problematic credit scores and records. Finding the right lender simply takes a little research.
  • A lender is more likely to be willing to take the risk if the individual has more money to put down on the downpayment. If a person is lacking a downpayment, taking time to save money will be worth the effort.
  • Individuals cannot purchase a car while their bankruptcy is in effect. It is important to wait until it has been discharged before starting the process of seeking financing.
  • While it may be tempting to purchase a new car, it will likely be wiser for individuals to attempt to get approval for a less expensive used car until their credit improves. Many used car dealerships offer their own financing with easier terms.
  • If a person’s credit score is poor, working on their score is important. Checking for errors and paying off old debts is helpful in improving a person’s score and ensuring they are able to obtain better financing.

Learn More Today

Yes, getting auto financing with a bankruptcy on your record is going to be more difficult, but it is not entirely impossible. There are companies, like CPS, that are willing to work with high-risk borrowers and help them finance the vehicle they need.

Visit the website today and you can learn more about the services they offer. Give them a call if you are ready to get started.

Licensed Insolvency Trustees Help Many Canadians Overcome Serious Financial Problems

Financial insolvency can be challenging to work through, but there are almost always options worth pursuing. There are a number of types of relief that are available to individuals who meet the standards set in the relevant Canadian laws.

In many cases, it will be necessary for a trustee to be appointed to oversee a debtor’s progress through bankruptcy or a legally binding consumer’s proposal. Hiring a Licensed Insolvency Trustee in Calgary even before such a point is reached can be helpful and wise.

Professionals Dedicated to Helping Consumers Deal With Insolvency

Consumer debt levels in Canada have been rising steadily for many years, and not always with positive, desirable results. More and more frequently, generally responsible Canadians find themselves facing debts they can no longer realistically service.

When that happens, it will almost always be wise to consult with someone who is familiar with all the available options. When debtors in Canada successfully file for bankruptcy or submit acceptable debt repayment proposals, a trustee will normally be appointed.

The Canadian government imposes strict requirements on those who would take on such responsibilities. Obtaining a license to serve as an insolvency trustee requires a significant amount of training, demonstrated knowledge, and experience.

As such, licensed insolvency trustees are typically well positioned to advise people who have not yet taken concrete steps toward resolving their debt-related problems. Because they are required to understand the ins and outs of the Canadian bankruptcy and consumer proposal systems, licensed trustees often have a lot to offer to debtors who need help.

The First Step Toward a Life Free of Debt and Related Pressure

Making an appointment with a licensed insolvency trustee, in fact, often proves to be the most important step a debtor could have taken. Many debtors wait too long to seek support and advice, and that can easily prove costly in the end.

The earlier an insolvency trustee is brought in to provide counsel, the more options will typically be available. A debtor who consults with a licensed trustee early on will also typically have more leverage when negotiating with creditors. Given these facts, it will always be better to arrange for help sooner rather than later.

Restaurateurs Benefit When They Learn More About the Best Industry-Specific Accounting Packages

Running a restaurant inevitably takes a lot of hard work, but there are ways to make it easier. Restaurateurs who identify and use the right tools tend to be a lot better off than those who fail to look into the options.

Adopting the best available restaurant-specific accounting system, for instance, regularly proves to be one of the most productive moves of all. Go online to learn more about the specifics and it will become clear that high-quality accounting software can make a definite difference for any restaurant.

Accounting Software Tuned to Accommodate the Needs of Restaurants

In some respects, restaurants are businesses like any others, but they also have plenty of distinctive, characteristic features. Surprisingly many restaurants rely on accounting apps that are actually designed for general-purpose use.

It will almost always be better to use an accounting system that accounts specifically for the needs of restaurants. Doing so can produce benefits concerning issues like:

  • Compliance. All businesses are regulated to some extent or another, but restaurants are subject to quite a bit more oversight than most. From food safety concerns to payroll taxes, the list of regulatory issues restaurateurs have to keep up with can seem almost endless. In many cases, though, accounting packages that are designed specifically for the industry will make it easier to stay in compliance with quite a few of the relevant rules. That will cut down on the time required to make sure that fines and other sanctions will not be forthcoming.
  • Profits. Even a restaurant that enjoys high volumes of business can end up losing money if great care is not taken. Restaurateurs have to keep a close eye on ingredient and labor costs at all times, while weighing these against menu prices. Many restaurants also end up losing large amounts of money to waste, even when nothing overtly seems amiss. Once again, accounting packages that make it simple to get a handle on such issues can produce impressive returns.

A Powerful Tool for Any Restaurateur

Restaurateurs who make sure to seek out and use the most appropriate tools available to them will almost always come out ahead. In many cases, a carefully selected accounting package will make an enormous difference.

Ways To Generate Residual Income

In the Virgin Islands, residual or passive income doesn’t require consumers to complete several tasks on an ongoing basis. Several opportunities are available for generating residual income. The income streams help consumers generate more earnings and save up for future investments. A financial advisor presents information about ways to generate residual income.

Peer to Peer Lending Practices

Peer to peer lending practices offers a way to generate interest payments from personal loans. Several platforms are available for individuals who want to start a business lending to their peers. A financial advisor helps consumers who want to start the residual income stream weigh the pros and cons.

Investing in Dividend Stocks

Dividend stocks pay out dividends at each quarter. A financial advisor helps consumers select stocks according to their current financial status and current prospects. Consumers want stocks that aren’t risky that perform well. The purpose of purchasing stocks is to generate a new residual income stream without facing financial hardships. Investment portfolios are managed by planners.

Purchasing and Offering ATM Services

ATMs offer a beneficial way to generate residual income. Each machine offers residual income for the owner, and the owners collect fees each time consumers withdraw funds from the machines. When considering the potential income streams, the consumers should consider where they place the machines and possible risks. Financial advisors help them review potential risks and benefits of the machines and ways to improve residual income streams.

Renting Out a Room

Empty nesters have an opportunity to generate residual income by renting out rooms in their homes. The opportunities are similar to that of a rental property owner, however, the property owner lives in the same home as the tenant. For some property owners, the residual income opportunity offers more control over the situation and could reduced liabilities.

In the Virgin Islands, residual or passive income offers exceptional ways to generate earnings with minimal efforts. The income streams don’t guarantee immediate wealth, but a careful plan could help consumers eliminate debts and save money for future costs. Consumers who want to learn more about residual income streams contact David Johnson Cane Bay and schedule a consultation right now.

Indirect Lenders Help Many Independent Dealers Compete and Succeed

Automotive dealers who specialize in selling pre-owned cars face unprecedented levels of competition. Letting any sale get away can set an entire dealership back and lead to plenty of associated problems.

There are good ways for dealers who primarily stock pre-owned vehicles, though, to make success more likely. Lenders like Consumer Portfolio Services are ready to help out in ways that make excellent sense for many independent dealers.

Financing Well-Suited to Many Smaller Dealers

Automotive dealerships that own franchise rights offered by the major manufacturers typically focus on serving financially stable buyers. There are many more people who need access to reliable transportation, though, but cannot qualify for most conventional types of financing.

Indirect lenders who make agreements with independent dealers are helping to fill in many such gaps. With each dealer being tasked with assessing and vetting loan applications, the lender steps in to buy the contract only after it has been signed.

This style of financing generally works very well for smaller dealerships that have to compete against larger ones. Partnering with such a lender will often allow such a dealer to sell vehicles to shoppers whose credit records include:

  • Bankruptcy. No financial fault is taken more seriously than bankruptcy, and for good reason. Given that one bankruptcy can wipe out many debts, conventional lenders view those who have been through them with pointed, particular suspicion. Secondary lenders are often willing to be more flexible, even to the point of buying loans issued to people who have worked through bankruptcy fairly recently.
  • Mortgage delinquencies and defaults. Most people prioritize making mortgage payments above all other types of debt service. When a person’s credit record shows late payments on a mortgage or even an outright default, most lenders will be reluctant to extend financing offers. Once again, indirect lenders are frequently willing to fund vehicle purchases made by such consumers if the other details are appealing.

A Great Way to Sell More Cars

When independent dealers become able to finalize agreements with shoppers who have been through such problems, sales volumes tend to climb. That will always be welcome news for the many dealers who need to do everything possible to keep their numbers strong and positive.

Is It Possible to Get an Auto Loan with Poor Credit?

A person’s credit score follows them throughout life. If the score is not where it should be, individuals can find themselves being turned down for certain types of loans. When a person’s credit score is lacking, they have the option of seeking help from Consumer Portfolio Services. Getting an auto loan is not impossible, even with poor credit or discharged bankruptcies.

How to Get Started

To get started on the process, it is first important the individual checks their credit score. The more a person knows about their score, the better equipped they will be to seek the right lender. There is a lot of information available on the credit report.

Individuals need to check all entries and ensure they are valid. If there are any mistakes, these need to be reported to the creditor and Credit Bureau right away. While some negative credit entries can stay on a person’s record for as long as ten years, most fall off within seven. Old or erroneous items should be removed.

If an individual has a lot of unpaid accounts, it would be wise for them to start paying on the old debts to improve their score. When items are paid off, the creditor reports the accounts as paid and this can help raise the individual’s credit score.

Fill Out the Paperwork

When applying for an auto loan with bad credit, it is wise to take time and research lenders. Getting pre-approval will cut down on wasted time and embarrassment. With pre-approval, individuals will be able to discover their ability to seek a loan before they even sit down with a lender.

Many lenders allow individuals to seek pre-approval online. Within a few minutes, individuals can learn if they qualify. Although the interest is typically higher on high-risk loans, as a person’s credit score improves, they will be offered better rates.

If you are seeking an auto loan with poor credit, it is important to be aware of your options. Check out the website today to get started right away. CPS will be happy to help you in the process and answer any questions you may have.

What Do Scientists Say About Whether Climate Change Is Causing Stronger and More Frequent Hurricanes?

When businesses are headquartered in an area that is devastated by a severe storm, a wildfire or an earthquake, the owners may feel motivated to do what they can to help people in their community. That’s the case with Cane Bay Partners, which set up a charitable division called Cane Bay Cares after two hurricanes hit the U.S. Virgin Islands in 2017. With so much damage resulting from hurricanes in recent years, many people wonder whether climate change is causing the storms to be more frequent and stronger.

Reviewing Statistics

As with most issues relating to climate change, experts disagree on the topic. The best way to determine an answer is to review statistics from previous years that are published by authoritative organizations. Climate scientists provide analyses of these numbers to show whether any evidence indicates that hurricanes are happening more often and are more severe than used to be the case.

More Serious Storms

Statistics show that the number of hurricanes has not increased over the past several decades. However, there has been an increasing number of category 4 and 5 storms, which are the most severe hurricanes. Tropical storms are more frequently becoming hurricanes and doing so more rapidly than historically was true. In fact, the percentage of tropical storms that gain momentum quickly is three times higher than it was 30 years ago.

Warmer Ocean Waters

Many scientists believe this is occurring because the ocean waters are warmer, which fuels the storms. The Geophysical Fluid Dynamics Laboratory, a U.S. government agency, explains that there is a strong correlation between warmer ocean waters and more powerful storms, indicating the possibility that the warmth is actually causing the problem.

One major problem with these rapidly developing hurricanes is their unpredictability. They change course with little warning, leaving people in those areas unprepared. Hurricane Dorian was predicted to strike St. Croix, but instead it went north and hit the Bahamas before traveling up the U.S. coastline. In 2017, Hurricane Maria slammed into the island of St. Croix, the home of Cane Bay Partners. Sustained winds up to 106 mph and gusts of up to 137 miles per hour caused enormous amounts of damage.