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Business advice, tips and tricks from the SBB in Holyrood Business Park, Edinburgh
Types of Personal Loans
A bank loan is usually when a financial institution lends to consumers for a specific period of time. As part of the bank loan, the consumer is required to pay back a specified amount of interest per annum, or month, over a specified period of time. Unsecured Bank Loan. This is a loan that makes use of an asset as collateral against which you are able to borrow a large amount. But in case of default, your asset could be taken possession of by the lender. The advantage with unsecured loans is that the rate of interest is higher than secured loans. Home Equity Loans. Home equity loans can be used to pay off debts such as credit cards and car loans. The loan is secured against the borrower’s house, which he is using as collateral, but the interest rate is lower than that on other bank loans. Although you can obtain a larger amount under home equity loans, you need to repay the entire amount in about 10 years, but the lower rate of interest makes it more manageable. Personal Loans. Most credit unions offer personal loans at fairly reasonable rates, and at times have special financing options for those with bad credit. Personal loans can be unsecured or secured. Unsecured personal loans are generally for larger amounts such as buying a car or house. Bad Credit. There are banks that specialize in bad credit loans. Some lenders are willing to offer personal loans even for people who have filed for bankruptcy. Even if you have been turned down elsewhere, you may qualify for unsecured personal loans from these lenders. Lenders who specialize in these loans often offer better terms to borrowers, since they do not have to put up collateral. But, you must be aware that these types
Bookkeeping – An Overview
Bookkeeping is the recording of daily financial transactions, which is a significant part of the system of accounting in most companies and industry sectors. It involves preparing financial resource documents for company operations, processes, operations and many other occurrences of an organization. The ultimate objective of bookkeeping is to record financial transactions as they occur and provide interpretation for decision support. A number of methods are available to record financial transactions such as the single-entry system or double-entry system. Single-entry bookkeeping system records financial transactions in single account. Under this method, the date and amount of each transaction is entered; however, since the data is not written in code, it is prone to errors. Double-entry bookkeeping system records each transaction twice; the first record is for the current transaction and the second is for the previous transaction that was debited or credited. The single entry bookkeeping method makes use of certain computer software tools to record financial transactions and provides visual evidence for the recording and interpretation of data. The primary benefit of using this method is that the transactions are more easily recognized and may be immediately acted upon when required. Double-entry bookkeeping system makes use of bank reconciliation software to record financial transactions and use the cash basis method to record receivables. The software uses the debit and credit instruments to record financial transactions. Bookkeeping and accounting clerks, along with auditors, keep track of all company transactions. They create records of transactions by creating a database that contains details about each transaction. The accounting clerks prepare reports from the database by interpreting and comparing the information contained in the entries made in the books. The data is stored in computers, which are controlled by the accounting clerks, keeping track of transactions. Bookkeeping is divided into three basic forms:
The courts and the criminal justice system
When a criminal case is taken into court, the criminal solicitor will assist the barrister in preparing the file and collating all the evidence required. The criminal justice system is designed in such a way that all the organisations that are involved in the criminal process work together seamlessly to reach a conclusion that is just to all parties involved. What are the different courts involved in the criminal justice process? The court system in the UK is relatively simple to understand. There is a civil law system and a correlating criminal law system. There is a hierarchy of courts which means that there is a system that needs to be followed. An individual will not be able to take a case directly to the high court – it will need to be referred from what is known as one of the lower courts. The first division of courts or branches of courts that a case will have to be heard in is either the magistrates court or the Crown Court. The magistrates and Crown Courts hear all small and lower offence crimes, but sometimes the Crown Court can also try more high profile cases. This will be measured on a case by case basis. The next level of courts that a case can be moved to if the judges are unable to deal with the case at Crown Court level will be the High Court. This is usually for criminal offences relating to murder and rape and the more serious offences. What is the role of the judge and the jury? The judge and the jury play crucial roles in the criminal court process. The jury’s role is to listen to the case as it is presented to them by the barristers for the prosecution and for the defence,
What is probate?
Probate is a legal and financial process that is used to deal with the issue of property, money, and possessions that belong to a person who has died. Dealing on behalf of someone who has died to sort out the possessions and financial assets they have left behind, can be a lengthy procedure that provides obstacles and causes a great amount of stress. Losing a loved one is hard enough without having to worry about the financial implications of such an event. If a person wants to consider the support of a probate solicitor Portsmouth then they should read this article to see if they require access to the services offered by such solicitors, what the services are that will be provided and finally what their next steps should be. Do I need a probate solicitor? A person may want to consider a probate solicitor to deal with the administration of an estate, provide representation and provide the documentation for them if they are seeking probate. Many circumstances may require the support of a highly trained lawyer who can ensure that the administration process is dealt with in a professional manner. Executors or the bereaved may wish to have support and assistance whilst they go through this process, this is when a solicitor could come in handy. The stress and burden of this process can be eased by the presence of a professional who has extensive experience in this field. If this is starting to sound like something that you could benefit from, then you should consider reading on to see what services could be beneficial to you. What services can a probate solicitor provide? A solicitor can determine whether a grant of probate is required. They can also ascertain the deceased person’s assets by collecting and collating important relevant
How much does a divorce solicitor really cost?
This is a question divorce solicitors in Guildford get asked often, and is actually one that requires a surprisingly simple answer. There is often confusion surrounding the cost of seeking legal guidance from a legal specialist, which is why many potential clients may shy away from legal intervention initially. In actuality, the cost of a divorce can start from as little as the amount charged for a fixed court fee which is minimal, if the couple decide to complete all of the necessary paperwork alone. Despite this however, many individuals may possess hectic work and social lives which can make it extremely difficult to finish this paperwork, which is where a divorce solicitor can help Making the cost clear So where does the confusion surrounding the cost of divorce occur? If a partnership decides to seek the help of a legal professional they are normally expected to pay a fixed divorce fee plus a VAT charge in addition to the court fee. These costs will be made clear by solicitors at the outset. Despite these costs being seemingly well defined, financial confusion often begins when the couple find it hard to make decisions on matters such as child custody arrangements, finances, and division of assets. This legal wrangling can cause the costs to stack up, which is why the mediation of a divorce solicitor is crucial to conclude these disputes as soon as possible for both parties involved. What to expect from the legal process Divorce is extremely common both within the UK, and on a global scale. Despite it being so common however, many individuals may still be unsure of what to expect from the legal process, and the steps typically taken to end a marriage. Although every individual legal case differs greatly regarding the process and outcome, every
When is a probate solicitor required?
It is important to first understand what probate in the UK means and the laws surrounding probate. In England and Wales probate refers to the procedures required when dealing with the estate of a deceased person. On the death of a person and prior to an executor or a next of kin being able to sell, transfer or claim rights to any of the deceased’s property or assets, a grant of probate may be required. There is a whole range of obligations that have to be fulfilled before an estate can be divided and allocated in the case of a will or if there is no will. A probate solicitor Emsworth is best suited to handle the complicated procedures to ensure that no problems occur at a later stage. Complications of probate law When someone dies it is necessary to carefully and correctly wind up their estate, which requires ensuring that all the individual’s liabilities are settled to enable an accurate value of the estate to be determined. Identifying all the assets and liabilities of an individual who has passed away is not always a straightforward procedure and may require some in depth searches being conducted. All sorts of debts need to be established, things like outstanding debts, credit card balances, utility bills and loans are but a few. Determining if any inheritance tax needs to be paid or if there is any income tax or capital gains tax outstanding is also crucial. A grant of registration has to be applied for to confirm the administrator of the estate. Selling off any assets that may be required to settle all outstanding debts must be done before the remaining value of the estate can be confirmed. Beneficiaries of an estate A probate solicitor will undertake the legally required course of action
