Crosby Finance

A study commissioned by VA in 2001 estimated, over the next 14 years, only about 30 percent of eligible veterans would apply for pension.

The importance of using a knowledgeable consultant is invaluable when it comes to submitting a claim with the Veterans Administration. Getting the aid and attendance benefit is a slow process even for those applicants who know what they are doing.

On the other hand, for those who blindly submit a claim without the proper support documents, it can take 8 to 12 months for a decision from VA. A poorly documented claim may also result in a denial. A knowledgeable consultant can shorten the award decision to possibly 3 to 4 months. In addition, a consultant will make sure that all deductible expenses are applied in order to maximize the award.

Finally, and most importantly, the consultant will provide guidance to prevent denial of the claim. Pension is an under used benefit. There are different income categories for pension, but the highest could pay as much as $1,801 a month in disability income to a qualifying veteran household. A study commissioned by VA in 2001 estimated, over the next 14 years, only about 30 percent of eligible veterans would apply for pension.

The conclusion was most veterans simply don’t know about it. In fact, according to the National Care Planning Council, about a third of all seniors in this country, over the age of 65, could become eligible for Pension under the right circumstances. When it comes to dealing with assets that may disqualify the applicant, there is an asset test to qualify for pension. Any asset or investment that could be easily converted into income might disqualify the claimant.

An asset ceiling of $80,000 is often cited in the media as being the test. The $80,000 has to do with VA internal filing requirements and is not the actual test. In reality, there is no dollar amount for the test and any level of assets could block the award. The asset test ultimately becomes a subjective decision made by the veterans service representative processing the application.

A home used as a residence and a vehicle are excluded from the asset test. VA will allow assets to be transferred or converted to income in order to meet the asset test. There are specific rules governing transfers of assets and what constitutes income from assets and it must be done correctly.

A qualified consultant can provide the necessary advice for a successful award. The application form provides no information on the existence of special treatment for annualized medical expenses.

If the initial application, involving annualized cost, is not done correctly, delays in record gathering could force the award decision to take up to a year. Or the eventual award could be substantially reduced or even denied. The applicant must wait another full year to reapply or go through a time consuming appeals process to correct any unfavorable decisions.

The secret for receiving a successful award for aid and attendance is not in filling out the form but in knowing what documents and evidence must be submitted with the application.

Knowing the secrets for a successful award is 95 percent of the battle. Filling out and filing a claim is a formality. A knowledgeable consultant can provide information to shorten VA’s decision window of six to 12 months to as little as three or four months. The consultant also understands how to maximize the benefit or avoid a denial.

The consultant can also provide guidance for meeting the asset test. Finally, the consultant can provide the actual strategies for transferring assets and he or she can arrange for trusts or income conversions to allow for the best possible transfer of assets to beneficiaries thus avoiding taxes, family disputes and Medicaid penalties

There are three levels of assessment that can be carried out on your property; a ‘basic’ valuation, a home-buyers report and a full structural survey. The latter two are prepared for the client whilst the first is for the Lender although often the applicant receives a copy.

All lenders need a “basic survey” to ensure that the property they are providing a mortgage for is of sound quality, with no obvious structural defects.

Some lenders offer this free of charge. However, most do not, in which case you can expect to pay around £300.

The second option is a “homebuyers report” which gives a more detailed assessment of the superficial condition of the property and costs around £500

The most comprehensive assessment is a “full structural survey”. This is a far more detailed version of the basic survey, which will usually uncover defects which are not immediately obvious. It is recommended for older properties.

Such surveys are far more costly and you can sometimes expect to pay over £1000. However, if any problems are found with the property, then buyers will be in a good position to negotiate a discount, and thus get a cheaper mortgage. In addition, it ensures you are aware of all defects before committing to a purchase that could have been a very expensive mistake.

Either a homebuyers report, or a full structural survey are useful to have done if you are buying a property for the first time.

For many people who are re-mortgaging their property, a “mortgage valuation” will ensure that the amount they are lending is relative to the property being mortgaged.

You can expect to pay upwards of £150, depending on the size and purchase price of the property.

As with other surveys, some lenders will offer this service free of charge. It is also common practice for when obtaining a homebuyers report or full structural survey that they are bundled together with the Lenders valuation – and the fee for the ‘homebuyers’ survey of full structural survey covers both reports..

Conveyancing is the term given to all of the legal work involved with purchasing a home, the costs of which varies considerably from £400 to £1,500.

The exact cost will depend on the solicitor used, the area, the value of the house and the work involved. Conveyancing is often a slow process, as the solicitor has quite a lot of work to do.

In most cases the overall fee will be made up of:

• Local authority search fees
• Environmental and drainage search fees
• Land Registry fee
• Telegraphic transfer fee
• Solicitors’ administration costs
• Stamp duty (currently for properties over £120,000)

It is worth noting that some of the searches that used to be carried out by solicitors on buyers’ behalf are now part of the Home Information Packs (HIPs) that sellers must provide would-be buyers before a purchase goes through.

An easy way to save on legal costs is to use a licensed conveyancer instead of a solicitor. Although they are often harder to find, the work they do is often of no less quality than a solicitor. With both though, it pays to check out their credentials and for extra peace of mind, get one through personal recommendation.

You also need to check that your legal representative is acceptable to the Lender. Most Lenders have restrictions and will not accept every firm to carry out the conveyance on their behalf.

As financial markets have become increasingly more competitive over the years, lenders are falling over one another to see who can offer the lowest ‘headline rate’ on mortgages.

More and more emphasis is being placed on this single figure, to the point where it is often the single deciding factor for many first-time buyers, who rush into mortgage deals without reading all of the fine print.

However, it is vital that consumers are aware that there is a wealth of other charges to consider when taking out a mortgage – the majority of which can be considerably costly!

The following articles look into the main contributing factors to the overall cost of a mortgage in more detail.

Arrangement fees

According to the FSA (Financial Services Authority) an arrangement fee is a ‘commitment or administration fee… payable to the lender to reserve the mortgage funds’.

Only a few years ago, most arrangement fees, charged to cover the lender’s administrative costs in arranging the mortgage, tended to be around £250.

But as competition has intensified over the headline rate and APR, arrangement fees have rocketed. According to research published at the start of this year, the average now stands at about £575.

In some cases, however, it can cost considerably more. Fees of 2.5% of mortgage balance are not uncommon, which on a £150,000 mortgage would be £3,750..

Most lenders’ arrangement fees are added to the mortgage on completion or refundable if the mortgage does not proceed or the application is not successful, however, some are not. So it makes sense always to check before you apply.

The consistent rise in college fees is making higher education really difficult. To save your child from such a situation, you can opt for a 529 college savings plan. This plan is one of the most popular and beneficial investments today.

529 College Savings is an ideal way to offer your kid best college education along with considerable saving of money. It would be immensely beneficial if you opt for this plan from the time of your baby’ birth.

Saving for such a long time might seem like a wastage initially. But, if you check the current college expenses with the rising costs, then you will realize that it will be very beneficial in the future.

To make things easier for parents, 529 college savings offer two options. They are pre-paid tuition plans and college savings plans. Both of these plans are popular among parents. Moreover, both plans are sponsored by different states and colleges accordingly.

Those who choose a college savings plan will be able to withdraw money requisite at the time of payment for college expenses. You will also earn a certain amount of interest on your investment. If you go for a pre-paid tuition plan, then you need to do early payments for the future college expenses.

A Prepaid 529 college savings plan is mainly used by those students who choose to attend university in their own state. On the other hand, if you go for private schools outside the state then you may lose some money from the contract.

Both the prepaid tuition plan and the college savings plan have variations in the requirements and rules depending on the state in which you live. To attain more information, you must perform a thorough online as well as offline research. Consulting a financial professional is also highly recommended.

529 college savings enables you to send your child to one of the best colleges. But, it has risk factors too just like other market based investments. There is a remote possibility of losing money or not making the desired returns.

The biggest advantage is that its earnings are tax deferred. But, if you use this money for some other purpose then you have to pay income tax along with 10% tax. To avoid such a situation, you must plan things in advance.

So, make your child’s future bright and things easier by investing in 529 college savings. This is the best way to make your dreams come true!

Financial spread betting companies provide investors an opportunity to deal in the financial markets without actually owning the instrument in question. That is to say, an investor or trader can speculate on many financial instruments such shares, commodities, forex and indices without having to own the shares, currency etc.

Financial spread betting is increasing in popularity. One reason for this is the absence of taxation!*. There is no capital gains tax on profits and no stamp duty on transactions. However, when a spread trade goes wrong then you can lose more than your original investment. Any losses incurred through a financial spread bet cannot be used against any capital gains that are made on ordinary investments.

Spread bet on commodities / spread trading on commodities depends on variety of factors. If trading on “softs” such as corn or wheat then large influences can be low yielding harvests / bad weather.

Spread bet on commodities - Brent Crude Oil

If you’re trading on Nymex Crude Oil or Brent Crude Oil then you need to consider the key supply and demand elements. Recently:

• Fears over increasing demand from India and China push the prices up (June 07)
• Concerns over supply and OPEC’s operating levels pushed the prices up (July 07)
• OPEC releasing a statement saying it was planning the highest ever level of oil exploration, pushed the price down (July 07)
• A possible downturn in the US economy (the US is the number one oil consumer) pushed the prices down (Aug 07)
• Two storms in Gulf of Mexico threatened supply problems. The Gulf accounts for 30% of US oil production and the majority of its refinery capacity. Naturally that threat to supply pushed the price up. (Aug 07)

Such conditions help to make volatile markets on which you can profits from by Buying and Selling commodities.

Originally the commodities market was based purely on agricultural commodities (softs), where producers / farmers and traders would set prices on the future value of the crops. Similar principles are followed in both financial spread betting on commodities and the finance markets. The key difference is that in the latter one, no conventional quarterly cycle is followed.

Another difference is the presence of ‘new crop’ or ‘old crop’ in commodity softs spread betting, there are often two distinct markets present. The present crop and following year’s crop. In such cases, there is a possibility that prices and volatility will differ significantly. For more information on financial spread trading, FTSE spread betting, Financial Spreads and spread trading companies, log on to the website cleanfinancial.com. A handy website for getting information on commodity bets and a range of examples on how to spreadtrade commodities such as Brent Crude Oil

Financial spread betting is a relatively new form of investing. It allows you to bet on shares or markets without owning any stocks or products. Financial spread betting works on the basic principles of “Buying” or “Going long” and “Selling” or “Going short”. Buying or going long simply refers to betting on the value of a market going up. Selling or going short is betting on the value of a market going down. These two principles form the crux of financial spread betting which ultimately decide your profits or losses depending upon how much the markets move up or down.

Financial spread betting has become increasingly popular due to the variety of benefits that it offers. So for all those who want to know ‘ why spread bet? here are some of the answers.

First and foremost, financial spread betting is a tax free* investment. Unlike buying shares and other investments there is no income tax, no capital gains tax and no stamp duty deducted from your P&L.

Spread bets also give you the opportunity to stick to the market of your choice. There is little limitation with regards to the number of markets you can trade. You can take positions on a huge range of financial markets including shares, stock market indices, forex , commodities, interest rates, bonds etc. If your strength / knowledgebase is the NASDAQ, you can stick with trading the NASDAQ 100. If your strength is the Oil markets you can stick to spread trading the price of a barrel of Brent Crude Oil.

Financial spread betting also saves you from the headache of paying commission. Unlike many share dealing services, with spreads you do not pay a commission to the operator for every trade.

As mentioned above, you can bet on both upwards and downwards moving markets. If you think a market will go down, you can spread bet on the market going down.

Financial spread betting also lets you place your bets online or via the phone.

We understand the need to know about financial spread betting and therefore endeavour to provide a comprehensive guide to spreads. Just go to www.cleanfinancial.com whenever you are looking for a range of different opinions, tips and/or strategies on financial spread betting.

Life insurance claims can be paid quickly if there are no complications. In fact one source states 91% of life insurance claims are paid within five working days.

When an insured person dies, it is the responsibility of the beneficiary to file life insurance claims to collect any death benefits. It is important to get the claims process under way as soon as possible because most policies have a time limit to file a claim.

Family members often don’t file a life insurance claim because they don’t even know that the benefits exist. A search for life insurance policies should be included in winding up any estate.

You may be able to track down a policy by checking the person’s banking records of payments made to any insurance company. You can check with the agent for other insurance policies such as car or house insurance to see if there was also life insurance. Or you could check with employers about any group policies that may be in effect or to see if there are any payroll deductions for individual coverage.

To get started, the beneficiary should ask the agent or company for a claim form. They will need the name of the insured, the policy number (and the policy itself if available) and a certified copy of the death certificate. The statement of claim should include the full name and address of the beneficiary or the person making the claim.

Once proof of the death of the insured individual reaches the insurance company’s claims department, they begin a process of verification. They make sure there actually is a policy in effect and that all premiums have been paid. They make sure the right person is identified as the beneficiary. They check the policy for any limiting clauses, including loans against the cash value of the policy. They verify that all the information in the policy is accurate.

In most situations life insurance claims are paid without dispute but the life insurance company will review each claim carefully before paying out their money and some life insurance claims are denied or delayed.

The company could refuse to pay a claim because the insured committed fraud when applying for the policy or the insured committed suicide.

After fraud on the part of the policy holder, the most common reason life insurers use to deny claims is that there was a “material misrepresentation” on the life insurance application.

Just the fact that a claim is made in the first two years the policy is in force will lead to closer scrutiny. If the beneficiary intentionally killed the insured person, the company can refuse to pay the death benefit no matter how long the policy has been in effect.

High life insurance claims are also more likely to be examined very closely.

There can be complications as a result of divorce. If you are an ex-spouse, you will need to know the law in your area to determine whether or not your status as a beneficiary may have changed. Even if you were named beneficiary prior to your divorce, if the insurance is not part of the divorce settlement, you may be out of luck. If there are conflicting claims, the company may turn the money over to a court and the court will hold the money until it decides who is entitled to receive the benefit.

Having done all its investigation, the company will either pay the claim or notify the beneficiary if there is a problem with the claim. If there are complications in your situation, it is important that you seek help from those who are knowledgeable and experienced concerning life insurance claims.

This week it was announced that the Bombay Stock Exchange (BSE) in Mumbai will take a 26% stake in the state-owned National Multi Commodities Exchange (NMCE) to counter the rapid growth of the Mumbai Commodity Exchange (MCX) and the Indian National Commodity and Derivatives Exchange (NCDEX). This development is interesting as it precedes the final enactment of the Indian warehouse receipts act which will transform farmer and supply chain financing in India.

Basically, by doing this deal, NMCE will be able to tap into the electronic trading system of the BSE and use it as a basis for agricultural contracts or even to trade negotiable warehouse receipts when the Indian warehouse receipts act comes into force later this year.

Another state body, the Central Warehousing Corporation of India (CWC), has a 26% stake in NMCE, which means the new shareholding group will have an excellent opportunity to add warehouse infrastructure to the NMCE offering. Put simply, NMCE seems to be providing the exchange function, BSE the technology and CWC the physical storage infrastructure.

Let’s imagine we are a few months in the future and the tie-up is completed and the Indian warehouse receipts act has been passed. The idea could be that that you will be able to deliver goods into a CWC warehouse, who will issue an electronic warehouse receipt which can then be either traded on NMCE or used as security to raise finance with your bank.

All of this good news for collateralised lending and structured trade finance (off-balance sheet lending) in India. Because a warehouse receipt can be used as collateral for the loan, it eases pressure on a trader’s balance sheet. This frees up more resources for the trader to use in other ways; i.e. it adds liquidity to the system.

It has recently been reported in the Indian national press that CWC wants to leverage opportunities from its reach right across India. It wants to educate the farming community so it will understand how to use commodity risk management and warehouse receipts.

Once the BSE-NMCE-CWC tie-up is complete, the new grouping will be able to provide a system which is comprehensive, which serves the needs of traders and producers alike and which will offer new financing opportunities for trading firms both domestically and internationally.

Being debt free is something we all wish we could always have, but in reality there a great many who will have need of some form of student debt consolidation loan at some time in our lives. It is the amount of debt and how well it can be managed that we concern ourselves about. It has been said that debt is good, but in the context of this article it means there is good and bad debt. The good debt some financial gurus talk about is when you use other people’s money to make more money for yourself, conversely bad debt can then be described as having debt that does not assist ones financial situation and most likely makes it more precarious.

So the bad debt is what needs to be addressed. Having debt management that not only helps you to responsibly meet your commitments and allows you to have a life is the correct way to go.

Debt Consolidation

Debt consolidation is one way of managing your finances using the financial institutions own systems to assist you in this endeavor. They provide the assistance in the form of consolidation of existing loans into one loan and also providing a lower interest charge for that loan, therefore helping the person in debt repay their debt in a way where everyone wins.

Student Debt Consolidation

Going to college or university is something we aspire to do and not all of us have the means to support ourselves, so some students seek student loans to provide income for the basic necessities of living while studying part time and full time. While undertaking their studies it sometimes becomes necessary to extend or add another loan to the mix added to a possibly over extended credit card or two and you can see how the situation can get out of hand.

The debt accumulated can be rolled into a student debt consolidation loan using the same principles outlined above. These loans take into account the students situation whereby some loans can be deferred till the student graduates and retains a position of employment. Upon starting a new job the student then is obligated to start repaying the debt. Another clause to the student debt consolidation loan can be a time limit for the repayment to start after an agreed time after graduation. This allows the student time to find the right employment with post graduate qualifications under their belt thus increasing their chance of successfully acquiring that job.

In conclusion, you can see that debt is a part of life for some but needs not be a noose around your financial neck. Using the student debt consolidation systems available to take the pressure off someone with debt and allow them to repay it can only help everyone concerned.

A broker is a financial center that holds and manages your money and provides you with graphical interface software so you can access the markets. They have become popular with those individuals that want to place their funds in a secure account.

Many misconceptions have been found with how Swiss accounts work. Many believe what they see in the movies. Only millionaires, government officials, or celebrities are allowed to hold Swiss accounts. This is far from true as any average person can hold an account under Swiss law

Forex brokers in Switzerland abide by the same laws as regular bank accounts hold.

Advantages of Accounts in Switzerland:

Privacy -

The Swiss law forbids any bankers/brokers to disclose any information on your account without your consent. If somehow your information is leaked without your permission, Swiss financial managers can be prisoned for 6 months and be fines 50,000 Swiss francs.

Low Risk -

Your main purpose probably for trading forex is to build your wealth. What good is your wealth if it isn’t protected. Swiss law passed the Swiss Banking Act to insure confidence to all depositors that hold their funds in a Swiss account. It guarantees that if the bank fails, depositors will receive their legal claims immediately.

Most of the residents that are not from the native country of Switzerland want to hold Swiss accounts for their large investments. Usually the more investments options you want the more the require account balance you need.

Forex brokers that are located in Switzerland offer a big advantage for an investor over United States or other offshore based financial centers. Remember though that holding a Swiss account usually requires you to hold a larger account. Earnings from forex though should easily account for this as they can be really substantial.