NEW YORK, March 6, 2023 (Newswire.com) - iQuanti: For anyone trying to figure out how loan payments work, determining the most affordable payment plan can be overwhelming. Luckily, there are a number of loan payment options available to fit nearly any budget.

It can be helpful to use a loan payment calculator to get an accurate estimate of what your loan payments would look like under each plan. Take your loan balance and annual interest rate into consideration when making your selection so you can make the best choice for your financial situation. 

In this article, we'll explain five different types of loan payment plans and when to apply for them.  

1. Deferments and forbearance 

Borrowers who struggle to make monthly installment payments do have alternative options for repayment. One is to ask for a deferment, which takes the next payment and moves it to the end of the loan term, essentially giving you a month off. Another is forbearance, which is a request to freeze payments due to financial difficulties.  

2. Extended Payment Plan 

Some lenders offer extended repayments for borrowers with over a certain amount in total debt. The extension simply stretches the term of the loan by a certain number of years. For instance, a five-year loan where you're paying $300 a month could be extended out to ten years, cutting that monthly payment in half. This is also known as loan refinancing.   

3. Graduated Payment Plan  

This type of payment plan is designed for borrowers in lower income brackets who expect to make more as they progress through their career path. Graduated payments are common in the student loan sector, where new graduates take entry-level jobs at companies they can grow with. Lenders know their income will go up, so they're willing to work with them.

4. Income-Based Payment Plan 

Income-based payment plans are exactly what they sound like. The amount of your monthly installment payment is based on your income. Unlike graduated payments, income-based payments are capped at a certain percentage of discretionary income, so the number could go up or down each month, depending on your financial circumstances.  

5. Pay-As-Your-Earn Plan (PAYE) 

PAYE plans are the big brother of income-based plans. The cap percentage is lower, and interest is limited to 10% of the principal amount owed. You generally won't see this with traditional loans, but students should investigate it. Most student loan lenders offer PAYE or income-based payment plans for student loan borrowers.    

The Bottom Line  

Missed payments on an installment loan can have a negative impact on your credit score and affect your ability to borrow in the future. Some of the options we've listed here may not be available from your lender. If they are, you may not see them advertised. Ask your lender about deferments and forbearance. Extended payment plans, graduated payment plans, income-based payment plans, and PAYE plans can also provide financial relief when you need it.  

Whether you're paying off a personal loan, student loan, or consolidation loan, it's important to research alternative payment options when it looks like you're falling behind. Don't wait until you've already missed a payment. 

Contact Information:
Keyonda Goosby
Public Relations Specialist
[email protected]
(201) 633-2125


Original Source: Different Types of Loan Payment Plans Explained

NEW YORK, March 6, 2023 (Newswire.com) - OneMain Financial: The internet is a wonderful source of information. Unfortunately, not everything that's published online is accurate. Word-of-mouth information can be even more unreliable. That said, there are many myths about getting a personal loan, and no surprise, many are simply not true. Here are some of the most common such myths:  

Myth #1: Personal loans take a long time to process 

This might have been true twenty years ago. With today's technology, personal loans can be approved and processed the same day, with funds transferred in as little as twenty-four hours. The transaction speed depends on the lender, but it's rare to find a lender that takes a long time to process a loan.   

Myth #2: Personal loan approval requires a high credit score 

This is another myth. Some lenders specialize in serving applicants with poor credit scores. Banks and credit unions will work with borrowers with less-than-perfect credit if they can prove a legitimate income source and have a low debt-to-income ratio. Online lenders may have even more lenient requirements.  

Myth #3: Personal loans require collateral  

There are different types of personal loans. A secured loan requires the borrower to pledge collateral. Examples of this type of loan include car loans and mortgages, where the purchased vehicle or home is the collateral. Unsecured loans don't require collateral. Typically, these loans are taken out for situations like debt consolidation or to pay emergency expenses.  

Myth #4: Personal loans have high-interest rates 

This is too much of a blanket statement to be true. Some personal loans may have higher interest rates if the applicant has a low credit score or thin credit history. Some lenders charge more than others. On average, personal loans can be affordable, and in most cases, they cost significantly less than the finance charges associated with credit card debt.   

Myth #5: Personal loans can't be paid off early 

Some lenders may charge a fee for early repayment, but this doesn't mean the borrower can't pay the loan back early. Early repayment can sometimes be the right move to save on interest charges and fees. If the personal loan is a home mortgage, prepayment fees are prohibited by federal law, so the homeowner can pay off their home loan whenever they choose.   

Myth #6: Only banks offer personal loans 

Banks and credit unions are not the only entities offering personal loans. Online lenders are part of a global digital lending market expected to reach $20 billion by 2027. Prospective borrowers have many options to choose from if they need a personal loan.   

Myth #7: Self-employed individuals can't get a personal loan   

This myth deters independent contractors and small business owners who need funds. Lenders want proof of income to approve applicants for loans. That proof doesn't need to be a W-2 form or the latest pay stubs. Self-employed individuals can provide bank statements or 1099s to satisfy the income requirement. 

The Bottom Line 

Don't buy into the myths. Much of what is written on the internet about personal loans is simply not true. They don't take long to process; a high credit score and collateral are not always required, and interest rates vary from lender to lender. Remember what is true: personal loans can be acquired from online lenders, paid off early, and available to self-employed individuals.    

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Contact Information:
Keyonda Goosby
Public Relations Specialist
[email protected]
(201) 633-2125


Original Source: OneMain Financial: 7 Personal Loan Myths Debunked

Discover Curated Fragrances for Freedom and Soul

MARATHON, N.Y., March 6, 2023 (Newswire.com) - Press Gurwitz Perfumerie, a distinguished American brand of perfumed beauty care and home products, is excited to announce the opening of its newest store in Marathon. The store offers a wide range of perfumes, bath and body products and home fragrances. With the introduction of the new store, Press Gurwitz Perfumerie is now accessible to even more people.

Press Gurwitz Perfumerie is a family business founded in 2019. To create its unique signature scents, PGP uses ingredients from different parts of the world and carefully selects rare oils to get truly exquisite blends. The brand presents perfumes as part of personality, space, architecture, and design. With the right aroma, a person makes a space their own, attractive, and alluring.

With the opening of the new store, Press Gurwitz Perfumerie is now accessible to even more people. The store's experienced staff is always on hand to help customers find the perfect fragrance for any occasion, whether it's a signature scent or a unique gift. The brand's team of expert perfumers and fragrance enthusiasts is passionate about crafting luxurious fragrances that are affordable and accessible to everyone, using the highest quality ingredients.

"We are excited to open our new store in Marathon and bring the world of Press Gurwitz Perfumerie to even more people," said a spokesperson for the brand, Victor Rakovich. "Fragrance is an art form, and we are dedicated to bringing our customers the best in luxury fragrance."

Press Gurwitz Perfumerie is a true perfume library of diverse scents, committed to using the world's best ingredients and rarest oils to create genuinely exquisite fragrances. The brand's portfolio includes fifteen perfumes, six lines of hair and body care products, and a collection of home fragrances in the form of scented candles and diffusers.

The new store is an opportunity for visitors to experience the world of Press Gurwitz Perfumerie for themselves and immerse themselves in the art of fragrance. The brand invites everyone to come and discover the power of fragrance and express their unique style with the brand's exceptional scents.

Contact Information:
Victor Rakovich
VP, Sales & Operations
[email protected]
+1-607-319-3002


Original Source: Press Gurwitz Perfumerie Unveils New Store in Marathon, Inviting Visitors to Experience the Art of Fragrance

Infused with TOMMY HILFIGER's signature modern prep details, the collection features playful apparel, accessories and home products for dogs and dog lovers around the world.

AMSTERDAM, March 6, 2023 (Newswire.com) - Tommy Hilfiger, which is owned by PVH Corp. [NYSE: PVH], is pleased to announce the debut TOMMY HILFIGER collection designed for dogs launching March 1, 2023. Featuring a range of apparel and select accessories, the collection is created in the brand's signature prep style and designed specifically for consumer's most loved four-legged friends. A selection of accessories and lifestyle products will also launch in Summer 2023 to complete the full range offering.

"Dogs are oftentimes seen as an extension of our personal style, self-expression and wider family," said Tommy Hilfiger. "It's been a fun project bringing this collection to life and connecting with a whole new global audience."

The collection delivers all-American prep styles in the brand's signature red, white and blue color palette. Synonymous to the men's and women's collections, the canine offering features classic polos with pipping collar details as well as branded hoodies with the TH logo front-and-center. A bright red raincoat offers weather protection while TH Monogram button up and monoblock sweaters adds luxury style to any dog's wardrobe. The key item for the season is a lightweight sport set - highlighting the brand's trademark stripe fabric, the set consists of a collar, harness and leash in various sizes. 

The collection was designed in a collaborative process between TOMMY HILFIGER and partner Kanine, a premium destination for top international pet products. The range will be produced and globally distributed to pet lovers around the world - and at the end of the year, 1% of every Kanine product sold will be donated to a local dog rescue. 

The collection will be available from March 1, 2023 on kanine.com, and on tommy.com from mid-April. Friends and followers of the brand are invited to join the conversation on social media using #TommyPets and @TommyHilfiger. 

# # #

About TOMMY HILFIGER   

TOMMY HILFIGER is one of the world's most recognized premium lifestyle brands, uplifting and inspiring consumers since 1985. The brand creates iconic style, which comes alive at the intersection of the classic and the new, co-created with people who are shaping culture around the world. TOMMY HILFIGER celebrates the essence of classic American style with a modern twist. Tommy Hilfiger offers premium quality and value to consumers worldwide under the TOMMY HILFIGER and TOMMY JEANS lifestyles, with a breadth of collections including men's, women's and kids' sportswear, denim, accessories, and footwear. Tommy Hilfiger has an unwavering commitment to sustainability and inclusivity.

Global retail sales of TOMMY HILFIGER products were approximately $9.3 billion in 2021 and the brand is powered by more than 16,000 associates worldwide — present in 100 countries and more than 2,000 retail stores, including its largest global flagship store at tommy.com. PVH acquired Tommy Hilfiger in 2010 and continues to oversee a focused approach to growing the brand's worldwide relevance, presence, and long term growth.

About PVH Corp.

PVH is one of the world's largest and most admired fashion companies, connecting with consumers in over 40 countries. Our global iconic brands include Calvin Klein and TOMMY HILFIGER. Our 140-year history is built on the strength of our brands, our team and our commitment to drive fashion forward for good. That's the Power of Us. That's the Power of PVH.

Follow us on Facebook, Instagram, Twitter and LinkedIn.

About Kanine Group

Kanine Group designs, sources, and globally distributes pet apparel and accessories under various owned and licensed brands, including its namesake Kanine brand, and operates www.kanine.com, an exclusive platform for premium and exciting products including apparel, accessories and home products for pets. Follow Kanine on Facebook, Instagram, Twitter and LinkedIn.

Contact Information:
Sean Coxall
CMO
[email protected]
+85297332294

Jolanda Smit Smit
Sr Director Brand Comms
[email protected]
+31650001567
Related Files
011823 - TH Pet Line 2023 Launch_FINAL.docx



Original Source: Tommy Hilfiger and Kanine Partner Together for the First-Ever Tommy Hilfiger Dog Collection