Oct
In short, debt consolidation loans are a simple way to consolidate your outstanding loans and make a one payment out for them all, usually at a lower rate of interest. By taking a debt consolidation loan, you can pay off short-term bills while in parallel reduce your overall outstanding debt. A debt consolidation loan can help you pay off any kind of loan that you might have taken. The loan can be a personal loan, an educational loan, or maybe on things that you bought on your credit card or any medical expenses - everything can be clubbed together and paid singularly for in debt consolidation.
What are California Debt Consolidation Loans? As the name suggests, California Debt Consolidation loans are the various debt consolidation loans that originate in the state of California. The loans or financial schemes can be anything from home loans to educational loans. The California debt consolidation programs are fast gaining popularity across the other states in America because of the goodness of fit they offer. As California is a financially strong locale, consumers save a reasonable amount after they pay off all their bills using the debt consolidation mechanism.
Over the years, owing to the quality of debt consolidation plans it offers, California debt consolidation mechanism has gained credibility across the globe in the field of finance. California financial services have been helping lots of people across the USA in specific who have been suffering from the ever-increasing burden of debt. The services offer an incredibly low rate of interest to the consumers making them one of the most lucrative services offered in the United States of America. By securing a debt consolidation loan in the form of a local California mortgage loan or second mortgage loan, you can avail the low interest rates and benefit immensely from the reduction in the monthly payment that you make out to your creditors. These are some of the reasons why most of the people are opting in for a debt consolidation loan from local Californian firms. The deal is always bright - you get reasonable payment terms and a significantly lower interest rate. The Internet can also help you find a good consolidation loan and it is quite convenient too. As a resident of California, you will get edge over other people by getting better interest rates. People who suffer from a marred credit history will know how difficult can it be to secure low interest consolidation loan.
The key is to perform an exhaustive market research and figure out a consolidation program that best suits your financial needs. One of the things to check while looking around for a consolidation loan is to find a plan that uses collateral against which you get a lower rate of interest. The greater the value of the collateral, the greater your chance is for a low interest rate loan.
6 Responses so far to "California Financial Services: Best In The Business"
October 16th, 2008 at 9:58 pm
If I mail out a payment to a company from California and the post mark is on the due date, by law is it late?
I live in California, the company is in Illinois. I sent them a payment on may 16th, the bill was due on may 17th, they credited my account on may 18th. I was given a late charge because they state that the payment arrived late. It is my belief that according to California law, if a payment is post marked on or before the date the item is due, the item is considered paid upon that date. And because the company does business in California, I also believe that they would be subject to this law. The company is a financial services institution but not a bank. The name of the company is Unicorn Financial who deal with the financing of Dental and Optical services and they solicit through the offices where these services are preformed. This was my final payment. Am I correct?
October 17th, 2008 at 3:00 am
Received on due date is just that, not Mailed date.
Check the statement, see what it says.
If it says "Must be received by-" then you're stuck.
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October 17th, 2008 at 3:02 am
The date of the payment refers to the day it was received as per your credit aqgreement. I do not believe that the California
legislature has made laws relating to the date of payments. I make them via the web or telephone when I am running late.
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http://www.bankrate.com/brm/news/cc/20020701a.asp
October 17th, 2008 at 3:04 am
Short answer: Yes…unfortunately.
Next time send a postdated check.
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October 17th, 2008 at 3:06 am
First to let you know there is no succh law. If your payment is due on the 17th you should have paid on or before that date. Secondly if such a law did exist it would hurt honest consumers because companies would just push up the due date a few days earlier knowing that payments by law could be legally a few days late. Also there is a Federal law which would prohibit a company from being penalized for enforcing a reasonable due date. Federal law would take precedent over State law.
If I was you I would call the company and explain that you have always made your payment on time and that you thought you put the payment in the mail on time. They might throw out the late charge as a goodwill gesture.
You might also try bill pay. Most bill pay services are free and will tell you the exact date the payment will be received if scheduled on a certain date.
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October 17th, 2008 at 3:08 am
Yes, according to the Uniform Commercial Code, a payment postmarked on or before the date due is considered paid in time. This is not just in California. All states have adopted the Uniform Commercial Code. However, while this works in most commercial transactions, such as paying a mortgage, or an invoice, it is not applied by businesses such as credit card companies. Agreements with credit card companies say the payment must be received by the due date. The financial services company to whom you sent your payment receives thousands of checks every day, their mail may be opened by a machine, and they cannot take the time to look at the postmark on your envelope.
If you are paying a credit card bill, you probably have no recourse. If you paid an invoice for a product or service that stated the date due, you may be right but you may not have much luck convincing them. Evidently you did not pay to the service or product provider but to a collection service. If the payment was for a single invoice, you might try calling the company and explain that you paid it in time based on the postmark and ask them to remove the late fee. They may be willing to cooperate.
In today's world, it is best not to rely on the law but make the payment well in advance to avoid late fees.
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