Archive for June, 2008
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GCI Transitions Rural Telecommunication Services to Galaxy 18 …
RedOrbit, TX - US-based telecommunications services provider, GCI, has successfully transitioned all of its rural telecommunication services to the Galaxy 18 satellite. … |
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If you like this post, please buy me a beer for $3 8-) Borneo Bulletin |
Telecommunication engineering student wins Unduk Ngadau crown
Borneo Bulletin, Brunei Darussalam - The 20-year-old telecommunication engineering student beat 34 other contestants to walk away with the coveted crown and RM32,000 worth of prizes, … |
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Vanguard Telecommunication Services ETF (AMEX: VOX) Hedged Price …
Market Intelligence Center, VA - Vanguard Telecommunication Services ETF (AMEX: VOX) closed yesterday at $68.08. So far VOX has hit a 52-week low of $57.00 and 52-week high of $85.37. … |
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If you like this post, please buy me a beer for $3 8-)Being a co-signer on a personal loan for a friend or family member is a very generous offer as it will likely mean the difference between them being able to qualify for such a loan and not being eligible. However, the decision of being a co-signer for a personal loan should not be made lighter. It is the responsibility of potential co-signers to educate themselves about how this situation affects them, especially with regard to their responsibility to the loan should the borrower default.
Most co-signers don’t realize that this loan is going to show up on their credit report. Keep in mind that this might affect your ability to get your own loan down the road as the personal loan you co-signed on with by used to calculate your debt to income ratio. It can also affect the interest rate you get your own loans at. If you feel it is a good idea to co-sign a personal loan for a friend or family member, do so with the understanding that after a set amount of making on time payments the borrower will attempt to redo the loan under their own name only. The more money you co-sign for, the longer you can expect to be a part of that loan.
Since the loan can both positively and negatively impact the credit rating of the co-signer it is important to set the loan up so that they co-signer can access the account information. This will allow you to find out what has been paid on the loan and what is still owed. Make sure the lender will inform you of any late payments or non-payment issues with the borrower as soon as they happen. Too often co-signers aren’t aware there was an issue with the loan until it has already impacted their credit.
While co-signing a loan for a friend or family member can help them, be aware of how it will affect not only your credit but your relationship as well. Nothing can sour relationships faster than money issues. It is important for a co-signer to look at the circumstances that lead to the individual needing one in the first place. If it comes down to simple money mismanagement, then you aren’t doing them or yourself any favors. However, it is the result of circumstances they had no control over you may want to consider it.
To minimize your risk as a co-signer, don’t make it habit of offering to do so for friends and family. The word will spread like wildfire with more requests heading your direction. If you don’t feel your own credit and finances can’t hold up if the borrower doesn’t repay the loan, then do not co-sign for a personal loan. It can be difficult to say no, but it is important you are able to.
You might consider having the borrower provide your with verification that payments are being made including regular statements or cancelled checks. To further reduce your risk as a co-signer insist the borrower purchases personal loan insurance that can cover loan payments for a particular amount of time due to unemployment, illness, or death.
Co-signing a personal loan for someone is more than giving your signature. You are putting your financial history and worthiness on the line for that person. It is important that you carefully review the borrowers need for the money as well as their spending patterns. If they owe other people money or continually live beyond their means, walk away with a clear conscious. There are times that being a co-signer on a personal loan is the right thing to do. Only you can make that decision. If you decide to go forward with it make sure you can afford the cost of any missed payments and that the lender is going to keep you informed on the payment status on the personal loan.
To get more loan advice tips and resources please visit The-Loan-Insider.com
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PTCL offers free local calls from 23:00 to 06:00 hours
Telecom Paper (subscription), Netherlands - The Pakistan Telecommunication Company has decided that local calls within the PTCL fixed line network would be made free of charge from 1 June from 23:00 … |
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Telecommunication Service Providers: How Will Revolutionaries Adapt?
Daily Mirror, Sri Lanka - The Sri Lankan telecommunications industry has been charting exponential growth, and continues to enjoy promising prospects. … |
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Sangoma Files Patent Application for Fax Synchronization Product
Earthtimes (press release), UK - The patent-pending Telecommunication System and Method of Synchronization solution is available for use on Sangoma's award-winning Advanced Flexible … |
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WiMAX expo kicks off with high hopes
China Post, Taiwan - "By featuring the entire ecosystem of the WiMAX industry, this exhibition will help Taiwan's telecommunication companies to obtain foreign procurement and … |
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If you like this post, please buy me a beer for $3 8-) Ghana Broadcasting Corporation |
Ghana Telecommunication donates to KNUST
Ghana Broadcasting Corporation, Ghana - Ghana Telecommunication (GT) Company Limited has presented a multi purpose equipment to the Kwame Nkurmah University of Science and Technology (KNUST) at a … |
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Cameroon: Telephone Rates Down by 20 Per Cent
AllAfrica.com, Washington - The Mobile Telecommunication Network offers a global average 20 per cent reduction to its customers. The percentage breakdown is as follows: between 13 and … Cameroon: Telephone Call Prices Drop By 20 Percent |
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