What Steps Should You Take If You Can’t Pay a Payday Loan?

If you find yourself in the position of being unable to repay a payday loan, Kiran Trivedi suggests you take some steps to protect your personal finances.

Don’t Take Out a Payday Loan Unless You Absolutely Have To!

If I’ve said it once, I’ve said it a thousand times. Don’t take out a payday loan. They’re a nightmare, they place horrific financial burdens on your shoulders, and can wreak havoc on your personal finances if you let them.

Of course, in reality there are some times where you have no choice but to take out a payday loan. Say an unexpected expense crops up. You don’t have the cash on hand to deal with it, so the only way you can, is to take out a payday loan.

Take These Steps to Deal with a Payday Lender

That doesn’t mean that if you’re left in the position of being unable to repay, you should let the lender run rings around you and deplete your finances. There are several steps you can take to deal with payday lenders, including:

• Cancel the Credit/Debit Card: Legally, a payday lender is allowed to keep taking money from your account, and they can do so, because you gave them the details. Cancel the appropriate credit/debit card, to ensure they can’t keep taking money you can’t afford to be giving away.
• Get In Touch: Lenders are legally required to work out a payment plan with you, should you get in touch, which is why it is essential that should you be unable to pay, you write to them and let them know.
• Work out a Plan: Following the last point, when you write, you need to let them know how much you can repay on a monthly basis, and how long it’ll take you to pay it off in full.
• Receive Confirmation: Once you’ve worked out a repayment plan, you need to request written confirmation that they’ve stopped applying interest charges, so that if they don’t stop charges, you have a legal leg to stand on.

It’s important to remember that The Mirror recently featured an article on this subject and this article stated that major payday lender Wonga said that they would accept these measures. That alone suggests, Kiran Trivedi readers, that by taking these steps, you can protect your personal finances from payday lenders when you are unable to pay.

 

Kiran Trivedi Explains How You Can Make Money from Blogging

Just like you can make money as an author on Amazon, you can make money from blogging, and this week on the Kiran Trivedi blog, I’m going to tell you how!

Create a Potential Customer Base Who You Can Then Market To

If you’ve got a product or service to sell, then blogging is a great way to do it. How? Well, you build up a relationship with your readership and ultimately get them to subscribe to your blog.

Here’s the thing, the way to make money from blogging is to get people to subscribe, so you can get a hold of their email addresses. Once you’ve done that, you’ve created a potential customer base, which you can then proceed to market your products or services to, via their email addresses.

 

 

Kiran Trivedi’s Top Five Blogging Tips

So obviously, if you’re a small business owner, or someone who’s looking to make money from a hobby, blogging is a great way to build up a potential customer base, so that’s what you need to focus on. Use these five Kiran Trivedi blog tips to do just that!

1)      Identify Your Readership: There’s no point blogging about things that your target customer doesn’t care about. Tailor your content to your readership.

 

2)      Learn Some Copywriting Skills: It doesn’t matter how interesting or relevant your content is, if it’s unreadable. No-one wants to trudge through a sea of grammatical errors and spelling mistakes, so it might be a good idea to brush up on your copywriting technique before you go ahead with your blog.

 

3)      Embrace the Mystery: The whole point is to get people to subscribe, so you can get their email and market your product/service to them. They won’t bother subscribing to your blog if they don’t want to know more. Include a mystical element on your blog to ensure they subscribe!

 

4)      Keep it interesting: No-one’s going to bother coming back to your blog if they get bored after the first few paragraphs. That’s why you need to keep it interesting. In other words, the more unusual the subject of your blog, the more it’ll be read!

 

5)      Be Interactive: Look at the success of social media; online users like platforms that are interactive, so why not communicate with your readers directly (i.e. through the comments section), and build up the relationship with them that is sure to get them to subscribe!

Obviously, blogging for the sake of making money isn’t for everyone; it’s only effective if you’ve got something to sell in the first place. However, if you do, then blogging is the best marketing tool you have to aid you in building up a loyal readership, which will in time become a loyal customer base.

Kiran Trivedi’s Five Top Tips for Preventing Identity Theft

If you want to protect your personal finances, you need to be aware of the dangers of identity theft, and use these top five tips to stop it in its tracks.

Kiran Trivedi’s Top Five Tips to Reduce the Cost of Learning to Drive

This week on the Kiran Trivedi blog I have one for you cash strapped teens and beleaguered parents; here are my top five tips for lowering the cost of learning to drive!

Learning to Drive Really Isn’t Cheap!

Your 17^th birthday is a milestone. You’re finally able to learn to drive. You’re so excited, you rush to get your provisional and start your lessons. Then your dream shatters, as you learn the disturbing truth that has confronted every learner driver who has ever taken to the road.

It’s not cheap to learn to drive. Unless you’re from a particularly affluentbackground, there are certain costs attached that are somewhat hefty, and most families struggle to free up the funds to bankroll the cost of learning to drive. Even if you’ve got a part-time job, learning to drive takes up a significant chunk of your budget.

Learning to drive isn’t cheap!

The Top Five from Kiran Trivedi

It really doesn’t have to be. Like anything else, there are certain ways to lower the price tag of learning to drive, and you’re in luck, as this week on the Kiran Trivedi blog, I have my top five, just for you:

1)      Do Your Research: I’ll say it until I’m blue in the face, do your research! Shop around for the cheapest driving instructor possible online. Make sure you read their reviews though, as you want to find both a cheap and effective driving instructor to keep costs down and pass your test ASAP.

2)      Pass Your Test as Soon as Possible: This leads me nicely to my second point; the more lessons you have, the more you’ll spend. Study as often as you can, persuade your parents to take you out to practise, and find the most effective instructor you can.

3)      Don’t Give Piggy Backs: Often an instructor will ask you if you can drive at the end of a lesson to pick up their next pupil. Don’t’! You’ve paid for their time, use all of it to get the most out of your investment.

4)      Go for It: Why not have two hour lessons? Some instructors offer discounts on longer lessons, saving you money, and they also allow you more time to master the more intricate elements of driving. Practise makes perfect!

5)      Sync up Your Diaries: Did you know that it’s often cheaper to book your driving test in the weekday than at the weekends? True story. Why not take it during general studies, no one really cares about that anyway, and save a boatload of cash!

For more personal finance tips, follow Kiran Trivedi on Twitter

Kiran Trivedi Asks: Could You Still Claim PPI?

If you think you may still be able claim PPI compensation, take note of this week’s article on the Kiran Trivedi blog, as I ask whether you could still be entitled to a pay-out.

PPI: The Largest Consumer Mis-Selling Scandal in British Financial History

Welcome the PPI scandal; the largest consumer mis-selling scandal in British financial history. PPI refers to Payment Protection Insurance, and lenders provided it to people in certain cases where they would have no choice but to default on the repayment of a loan.

The financial crisis back in 2008 prompted the Financial Conduct Authority to look into banking practises, and they found that lenders had been selling it to people that either weren’t ever aware they’d actually been sold it, or had been sold it, but would never be able to claim on it. The result; consumers have been paid billions back in mis-sold PPI compensation.

Could You Still Claim PPI Compensation

Pay outs started coming in in 2011, and this would lead you to believe that by now, most people would have gotten what they’re entitled to, and thus it’s unlikely you’d still be able to claim it. Not so.

An expert commissioned by the BBC has found in fact that there is a £1 billion shortfall in PPI compensation. Although it’s currently difficult to gauge the scale of the issue, the expert found that customers who had been sold PPI on their credit cards could be in line for more compensation. According to the expert, this applies to customers who had cards issued by Lloyds Banking Group, Barclays, MBNA and Capital One

Under initial claims, banks only refunded the premiums on their mis-sold PPI plus interest. According to the news source, they failed to refund the additional charges which triggered the premiums.

Kiran Trivedi Lets You Know How to Claim Compensation

If you fall into this category, then you might be able to claim compensation, and to do so, you need to first go to the lender in question and begin their PPI claims process. If they reject your claim and you wish to appeal, go to the Financial Ombudsman.

If you are entitled to extra compensation then by all means claim it Kiran Trivedi readers. It’ll give your budget just the boost it needs for you to make sure your personal finances are stronger than ever going forward.