By James Mercer
Have you ordered your credit report? Remember by September 1, 2005 every state will be required to allow you to one free credit report each year. If you are denied credit for any reason you are entitled a free credit report. Under any other circumstances you will have to order one.
If you have ordered your free report, have you looked through to make sure everything is correct? If it isn't then this is the article you need to read.
How to report a credit error:
Each credit bureau needs to be contacted. One bureau may have the correct information while the other two are wrong. By contacting each credit bureau you eliminate the hassle of having to do the process again when you find out that you didn't do it right the first time.
When writing to the credit bureaus, address one mistake at a time. If you report more than one mistake the credit bureaus can, legally, say you are filing a frivilous report and do nothing about it. Keep your letters down to one mistake and one mistake only. Yes, this may take some time to get through all the mistakes, but it is time well spent.
Each of the credit bureaus have PO boxes specifically set up for complaints. They change their PO box addresses often to make it harder for customes to find and complain.
The credit agency must get in contact with the creditor that is reporting the late payment/incorrect data within 30 days and either change the data, if it is incorrect, or delete the data altogether. If they don't get a response from a creditor within the 30 day period they have to delete the data. This puts trying to correct mistakes to your advantage.
Trying to straighten out your credit can be a time consuming process and you may wish to use a credit agency to help you get everything correct. As always though, let the buyer beware. Credit repair scams are everywhere and if you don't watch out you can become a victim.
Persistency pays off by getting you a better credit rating and credit score. By repairing your credit you should be able to get a credit card, home loan, auto loan, refinance, etc., that you have been looking to get and be able to get it at better interest rates. This is all good for you...Because Money Matters
About the author:
James Mercer posts articles of interest to those wanting to learn more about the financial world the runs their life Monday-Friday at www.becausemoneymatters.blogspot.com
Credit Card SHOCKER
By Rosella Aranda
Have you ever looked at your credit card statement?
I’m not talking about just making sure that all the
transactions are correct. I’m talking about looking at the
finance charges.
I daresay that sometimes that figure is almost as great as
the minimum monthly payment you’re making. After all, as
long as you can keep the creditors at bay by paying the
minimum, that’s all you care about, right?
If you agreed, I urge you to reconsider.
I’m sure that by now, many of you realize that you lose
money by buying on credit. Still, I don’t think many of you
appreciate just how much your credit cards are costing you.
I’d like to really drive that point home.
Let’s say that Joe decides he needs new patio furniture. He
doesn’t have the $2,000 cash, so he slaps down his plastic
card knowing that he can make the minimum monthly payment,
no sweat.
And so that’s what he does, month in, month out, year in,
year out, and pretty soon he’s been doing this for one full
decade. Surely it’s paid off by now!
No, not even close. In fact, if Joe continues to make the
minimum monthly payment, he will be paying for that
furniture for the next 38 years!
And once he has made the final payment on his original
$2,000 purchase, he will have paid an additional $5,300
in interest! Pretty disgusting, isn’t it? And this is at
14% APR. Many cards run higher.
Some of you more savvy credit card users out there might
be thinking that you already know this, so you don’t fall for
that trap anymore. You only get credit cards with a much
lower interest rate, right?
But do you notice that it’s only for a few months? And do
you pay attention to what the interest rate jumps to after
that short introductory period? You kind of have to hunt
around for this figure since they don’t put it in plain view.
Believe me, credit card companies are not losing money on
these lower introductory rate offers.
Watch Out for Those Tempting Balance Transfer Offers!
Credit card promotions are becoming even more devious. Now
the credit card companies are offering 0% interest on all
balance transfers for up to 18 months! Wow, well, you’ve
GOT to take advantage of that, right? I’ll show you three
reasons why you shouldn’t.
First, even though you might be “pre-approved”, it is in no
way certain that you will actually get this low rate. The
credit card companies reserve the right to reconsider their
original offer based on your qualifications.
They will often go ahead and issue you a credit card, but it
could be at a substantially higher rate. Don’t assume that what
you applied for is what you are getting.
Second, there are often balance transfer fees that are
substantial enough to gobble up any savings you might make
on a lower interest rate. Transfer rates run anywhere from
3% to a hefty 5%, with a single transaction costing as much
as $65.
Third, and this is the sneakiest part of all, in order to
secure the 0% rate on your transfers, you are required to
purchase a minimum amount on your card for several
consecutive months.
At first, this doesn’t sound so bad. However, the fine
print tells you that the interest rate applied to these new
purchases is NOT the same 0% rate, but a different, much
higher rate.
What’s more, all your payments will always be allocated to
the balance that will earn the credit card company the most
money. This means that the balances with the lowest rates
will be targeted first, while the balance with the much
higher rate keeps accruing and compounding interest month
after month.
So, if you transfer a large sum in order to take advantage
of this seemingly generous offer, you will likely be paying
on it for a very long time before you ever get around to
paying down the mandatory purchases, which are racking up
some pretty serious charges in the meantime.
And we’ve only looked at interest rates here. There are
also default penalties, late charges, over-the-limit fees,
transaction fees, ATM fees, stop-payment fees, cash advance
fees and annual fees, all of which are on the increase.
Over half the states in the union have no limit on what
credit card issuers can charge for annual fees and yearly
interest rates. These companies are gouging their customers
with charges that are downright outrageous, and
unfortunately for us, legal.
So how DO you avoid falling into these sneaky traps that
the credit card companies set?
If you are lucky enough to not be playing the losing game of
credit card roulette, for heaven’s sake, don’t start!
If you are already involved, get out as fast as you can. Here
are a few basic steps.
- Don’t carry a credit card. It’s amazing how easy it is to
ignore this obvious first step.
- Apply any extra money to your debts first. If you’re
saving a little nest egg earning at a rate of 5%, but you
have debts gnawing away to the tune of 12%, it’s not
difficult to see that this is a losing proposition.
- Target one debt for elimination at a time. Pick the one
that can be wiped out the most quickly first.
- Take all the extra money from the first debt and apply it
to your second target.
- Continue in like fashion until you have dug yourself out
of this miserable pit.
And finally, breathe a major sigh of relief and vow never to
pass that way again.
About the author:
Rosella Aranda, international marketer, editor and author,
helps entrepreneurs escape their limitations and enjoy greater
freedom and satisfaction. For more on how to be rich, visit
http://www.FromThoughtsToRiches.com/.Great tools at
http://www.FinancialFreedomWorld.com/
Have you ever looked at your credit card statement?
I’m not talking about just making sure that all the
transactions are correct. I’m talking about looking at the
finance charges.
I daresay that sometimes that figure is almost as great as
the minimum monthly payment you’re making. After all, as
long as you can keep the creditors at bay by paying the
minimum, that’s all you care about, right?
If you agreed, I urge you to reconsider.
I’m sure that by now, many of you realize that you lose
money by buying on credit. Still, I don’t think many of you
appreciate just how much your credit cards are costing you.
I’d like to really drive that point home.
Let’s say that Joe decides he needs new patio furniture. He
doesn’t have the $2,000 cash, so he slaps down his plastic
card knowing that he can make the minimum monthly payment,
no sweat.
And so that’s what he does, month in, month out, year in,
year out, and pretty soon he’s been doing this for one full
decade. Surely it’s paid off by now!
No, not even close. In fact, if Joe continues to make the
minimum monthly payment, he will be paying for that
furniture for the next 38 years!
And once he has made the final payment on his original
$2,000 purchase, he will have paid an additional $5,300
in interest! Pretty disgusting, isn’t it? And this is at
14% APR. Many cards run higher.
Some of you more savvy credit card users out there might
be thinking that you already know this, so you don’t fall for
that trap anymore. You only get credit cards with a much
lower interest rate, right?
But do you notice that it’s only for a few months? And do
you pay attention to what the interest rate jumps to after
that short introductory period? You kind of have to hunt
around for this figure since they don’t put it in plain view.
Believe me, credit card companies are not losing money on
these lower introductory rate offers.
Watch Out for Those Tempting Balance Transfer Offers!
Credit card promotions are becoming even more devious. Now
the credit card companies are offering 0% interest on all
balance transfers for up to 18 months! Wow, well, you’ve
GOT to take advantage of that, right? I’ll show you three
reasons why you shouldn’t.
First, even though you might be “pre-approved”, it is in no
way certain that you will actually get this low rate. The
credit card companies reserve the right to reconsider their
original offer based on your qualifications.
They will often go ahead and issue you a credit card, but it
could be at a substantially higher rate. Don’t assume that what
you applied for is what you are getting.
Second, there are often balance transfer fees that are
substantial enough to gobble up any savings you might make
on a lower interest rate. Transfer rates run anywhere from
3% to a hefty 5%, with a single transaction costing as much
as $65.
Third, and this is the sneakiest part of all, in order to
secure the 0% rate on your transfers, you are required to
purchase a minimum amount on your card for several
consecutive months.
At first, this doesn’t sound so bad. However, the fine
print tells you that the interest rate applied to these new
purchases is NOT the same 0% rate, but a different, much
higher rate.
What’s more, all your payments will always be allocated to
the balance that will earn the credit card company the most
money. This means that the balances with the lowest rates
will be targeted first, while the balance with the much
higher rate keeps accruing and compounding interest month
after month.
So, if you transfer a large sum in order to take advantage
of this seemingly generous offer, you will likely be paying
on it for a very long time before you ever get around to
paying down the mandatory purchases, which are racking up
some pretty serious charges in the meantime.
And we’ve only looked at interest rates here. There are
also default penalties, late charges, over-the-limit fees,
transaction fees, ATM fees, stop-payment fees, cash advance
fees and annual fees, all of which are on the increase.
Over half the states in the union have no limit on what
credit card issuers can charge for annual fees and yearly
interest rates. These companies are gouging their customers
with charges that are downright outrageous, and
unfortunately for us, legal.
So how DO you avoid falling into these sneaky traps that
the credit card companies set?
If you are lucky enough to not be playing the losing game of
credit card roulette, for heaven’s sake, don’t start!
If you are already involved, get out as fast as you can. Here
are a few basic steps.
- Don’t carry a credit card. It’s amazing how easy it is to
ignore this obvious first step.
- Apply any extra money to your debts first. If you’re
saving a little nest egg earning at a rate of 5%, but you
have debts gnawing away to the tune of 12%, it’s not
difficult to see that this is a losing proposition.
- Target one debt for elimination at a time. Pick the one
that can be wiped out the most quickly first.
- Take all the extra money from the first debt and apply it
to your second target.
- Continue in like fashion until you have dug yourself out
of this miserable pit.
And finally, breathe a major sigh of relief and vow never to
pass that way again.
About the author:
Rosella Aranda, international marketer, editor and author,
helps entrepreneurs escape their limitations and enjoy greater
freedom and satisfaction. For more on how to be rich, visit
http://www.FromThoughtsToRiches.com/.Great tools at
http://www.FinancialFreedomWorld.com/
Choosing the best low interest credit card
By Jeff Lakie
With so many low interest credit cards on offer, how do you know which one to choose? Here is a brief guide for choosing your low interest credit card.
The Chase Manhattan MasterCard is a great choice, for those with an excellent credit rating. It has an introductory APR of 0%, for up to six months, which is a great option if you plan on transferring your existing balances to your new account. If you currently bank at Chase Manhattan, you can earn additional rewards with this card, like a longer APR term. If you do a lot of travelling, you will like this MasterCard, because it has the Chase Travel Reward program, which lets you earn 1 point for every $1.00 that you spend and gives you automatic worldwide travel accident insurance, up to $500,000.00 and offers you a discount at Hertz Car Rentals.
If you are looking for a straightforward, low interest credit card, the Blue Card from American Express is a good choice. Like the Chase Manhattan MasterCard, it also has a great low interest rate of 0% for up to 15 months, for those who qualify. The advantage to having this card, however, is that is imbedded with a Smart Chip, to help you track unauthorized purchases and it allows you to opt to carry a balance throughout the year or pay the full amount monthly, like a traditional American Express card.
Another low interest credit card package which will give you a low interest rate is the Chase Travels Reward MasterCard, which is perfect for those who travel frequently. In addition to its introductory low-rate, it offers a low interest rate for balance transfers. It has a generous credit limit of up to $50,000.00, for qualified users and will reward you with 1 point for every dollar that you spend with your card, which can be redeemed at various hotels and restaurants.
There are many great credit card offers which will give you a consistently low interest rate, all you have to do is apply!
About the author:
Jeff Lakie is the founder of Credit Card Resources a website providing information on credit cards
With so many low interest credit cards on offer, how do you know which one to choose? Here is a brief guide for choosing your low interest credit card.
The Chase Manhattan MasterCard is a great choice, for those with an excellent credit rating. It has an introductory APR of 0%, for up to six months, which is a great option if you plan on transferring your existing balances to your new account. If you currently bank at Chase Manhattan, you can earn additional rewards with this card, like a longer APR term. If you do a lot of travelling, you will like this MasterCard, because it has the Chase Travel Reward program, which lets you earn 1 point for every $1.00 that you spend and gives you automatic worldwide travel accident insurance, up to $500,000.00 and offers you a discount at Hertz Car Rentals.
If you are looking for a straightforward, low interest credit card, the Blue Card from American Express is a good choice. Like the Chase Manhattan MasterCard, it also has a great low interest rate of 0% for up to 15 months, for those who qualify. The advantage to having this card, however, is that is imbedded with a Smart Chip, to help you track unauthorized purchases and it allows you to opt to carry a balance throughout the year or pay the full amount monthly, like a traditional American Express card.
Another low interest credit card package which will give you a low interest rate is the Chase Travels Reward MasterCard, which is perfect for those who travel frequently. In addition to its introductory low-rate, it offers a low interest rate for balance transfers. It has a generous credit limit of up to $50,000.00, for qualified users and will reward you with 1 point for every dollar that you spend with your card, which can be redeemed at various hotels and restaurants.
There are many great credit card offers which will give you a consistently low interest rate, all you have to do is apply!
About the author:
Jeff Lakie is the founder of Credit Card Resources a website providing information on credit cards
Buy Houses at Discount Prices!
By John Whiteside
Buying a house is the best way you can create immediate equity. Gaining equity through buying a house is something which is very easy to do, as long as you follow these guidelines.
If you are seeking to buy a house under discount value you must have the right mindset:
"The deal of a decade comes along about once a week"
- Dolf De Roos, Real estate investor.
Houses being sold below market value are out there, its just a matter of knowing where to look and the buying strategies you use.
So where can I find houses being sold for a discount?
Find motivated sellers. Some examples of these sellers are people who have experienced death, divorce, bankruptcy, the less intelligent, people who have deadlines, and are developers.
Bankruptcy/Foreclosure:
When bankrupt an individual will have the option of selling their house to a third party, most likely at a cheaper price than market value because they need the money fast. If an Individual is bankrupt and the bank is the creditor, the bank will take the asset (the house) and have a foreclosure sale. You will often find a cheap price there as well.
Death:
Although this may seem like profiting of someone else's misery, its not really. If the house is not included in the persons will, it must be sold, someone has to buy it. If the deeds to the property are transferred to someone else there is often a good chance they will not want to hold onto it and want to sell it quickly.
Divorce:
When couple breaks up things often get nasty and they both want to be separated as soon as possible. They will often settle on selling their house for a lower price but quickly.
Less intelligent:
Sometimes people are selling properties with out the help of a real estate agent and will not know the exact value of their house. They will usually price their houses too high because of emotional attachment to it. On the flip side they might be ignorant of the real market value and sell it for less than its worth.
Deadlines:
Often the best place to find deals. People with deadlines need to sell their property quickly. They may be going overseas or need the money fast. Almost all people with deadlines will sell their houses at a discount.
Developers:
In some circumstances property developers may have over extended themselves on a project and need to cut their loses. You can pick up discount houses from their mistakes. Always ask why the house is being sold so you can determine whether the seller is motivated or not.
Other sources
Great places to look are under the classified section in the newspaper, look for things like "Urgent" or "Heavily reduced". What I love about ads under the classified section is that real estate agents are not often involved. This is good because real estate agents will often try to push up the price of a property so it is above market value. People without real estate agents often do not know the true market value of their property.
Just because there isn't a "For Sale" sign on a house does not mean the home owner would not sell for the right offer. Although chances of finding someone to sell there house through this method aren't very high, you can find great deals by making offers that a home owner might just take.
If you've been to auctions or looked at properties which have not sold in a while and are being no longer advertised, follow up on them. After so much hassle of advertising the house and no sale, the vender may be tempted to sell at a discount.
Buying strategies:
Instead of looking for properties to purchase, let the properties come to you. Get your own add in your local Newspaper saying something like," Serious property buyer, wants to buy houses from motivated sellers quickly". You'll be surprised at the number of calls you'll receive.
Don't reveal all your cards, as in try not to say why you want the property or how quickly you want to buy. Never make the first offer, let the seller make it. Once the seller states their price tag, say you want twice the discount you want off their price. So for example, the seller says they will sell it for $100,000 and you want a 5% discount, (5% of 100,000 = 5,000. 5,000*2 =10,000) offer $90,000 and counter offer up from there.
Staple a check for the deposit payment to your next offer. If the seller countersigns the contract and banks the check they have accepted the deal. The psychological impact of this tactic is amazing. This tactic shows the seller that you are deadly serious about purchasing the property quickly. It is also very tempting to just bank the check right now even though they will be selling the property at a discount.
Don't put emotions into the picture. Even if you are purchasing a house that will be your home, just because you think a bathroom looks 'adorable' you must not be willing to pay any more than its worth! This especially applies at auctions where the atmosphere makes it very hard to not bid.
Can I loose the equity that I have created:
Yes, but not likely. If you are savvy about it you can time your purchased property to gain even more equity from appreciation of the housing market in addition to creating immediate equity. Increase of real estate value by percentage in Australian Districts View here:http://www.use-your-equity.com/BuyingHousesatadiscount.html As we can see from the graph, housing prices eventually all go up due to increasing demand.
The only time you can loose money is if you sell. If you never sell you will never loose money. You may loose equity when the market goes into recession, but eventually as population and demand for housing increases the property you have purchased will appreciate. If you are looking to continuously gain equity you must purchase in high capital gain areas.
When the market is booming try to purchase properties for a 5%-10% discount.
When the market is flat try to purchase properties for a 10%-15% discount.
When the market is in recession try to purchase properties for a 15%-30% discount.
Now that you've purchased your house or home for a discount and gained equity, you should consider using the equity you've created. After all its just sitting in your home doing nothing unless you use it!
About the author:
Owned by John Whiteside from www.use-your-equity.com, we can show you how to use and create equity in your home to make you money. Primarily through real estate investing.
Buying a house is the best way you can create immediate equity. Gaining equity through buying a house is something which is very easy to do, as long as you follow these guidelines.
If you are seeking to buy a house under discount value you must have the right mindset:
"The deal of a decade comes along about once a week"
- Dolf De Roos, Real estate investor.
Houses being sold below market value are out there, its just a matter of knowing where to look and the buying strategies you use.
So where can I find houses being sold for a discount?
Find motivated sellers. Some examples of these sellers are people who have experienced death, divorce, bankruptcy, the less intelligent, people who have deadlines, and are developers.
Bankruptcy/Foreclosure:
When bankrupt an individual will have the option of selling their house to a third party, most likely at a cheaper price than market value because they need the money fast. If an Individual is bankrupt and the bank is the creditor, the bank will take the asset (the house) and have a foreclosure sale. You will often find a cheap price there as well.
Death:
Although this may seem like profiting of someone else's misery, its not really. If the house is not included in the persons will, it must be sold, someone has to buy it. If the deeds to the property are transferred to someone else there is often a good chance they will not want to hold onto it and want to sell it quickly.
Divorce:
When couple breaks up things often get nasty and they both want to be separated as soon as possible. They will often settle on selling their house for a lower price but quickly.
Less intelligent:
Sometimes people are selling properties with out the help of a real estate agent and will not know the exact value of their house. They will usually price their houses too high because of emotional attachment to it. On the flip side they might be ignorant of the real market value and sell it for less than its worth.
Deadlines:
Often the best place to find deals. People with deadlines need to sell their property quickly. They may be going overseas or need the money fast. Almost all people with deadlines will sell their houses at a discount.
Developers:
In some circumstances property developers may have over extended themselves on a project and need to cut their loses. You can pick up discount houses from their mistakes. Always ask why the house is being sold so you can determine whether the seller is motivated or not.
Other sources
Great places to look are under the classified section in the newspaper, look for things like "Urgent" or "Heavily reduced". What I love about ads under the classified section is that real estate agents are not often involved. This is good because real estate agents will often try to push up the price of a property so it is above market value. People without real estate agents often do not know the true market value of their property.
Just because there isn't a "For Sale" sign on a house does not mean the home owner would not sell for the right offer. Although chances of finding someone to sell there house through this method aren't very high, you can find great deals by making offers that a home owner might just take.
If you've been to auctions or looked at properties which have not sold in a while and are being no longer advertised, follow up on them. After so much hassle of advertising the house and no sale, the vender may be tempted to sell at a discount.
Buying strategies:
Instead of looking for properties to purchase, let the properties come to you. Get your own add in your local Newspaper saying something like," Serious property buyer, wants to buy houses from motivated sellers quickly". You'll be surprised at the number of calls you'll receive.
Don't reveal all your cards, as in try not to say why you want the property or how quickly you want to buy. Never make the first offer, let the seller make it. Once the seller states their price tag, say you want twice the discount you want off their price. So for example, the seller says they will sell it for $100,000 and you want a 5% discount, (5% of 100,000 = 5,000. 5,000*2 =10,000) offer $90,000 and counter offer up from there.
Staple a check for the deposit payment to your next offer. If the seller countersigns the contract and banks the check they have accepted the deal. The psychological impact of this tactic is amazing. This tactic shows the seller that you are deadly serious about purchasing the property quickly. It is also very tempting to just bank the check right now even though they will be selling the property at a discount.
Don't put emotions into the picture. Even if you are purchasing a house that will be your home, just because you think a bathroom looks 'adorable' you must not be willing to pay any more than its worth! This especially applies at auctions where the atmosphere makes it very hard to not bid.
Can I loose the equity that I have created:
Yes, but not likely. If you are savvy about it you can time your purchased property to gain even more equity from appreciation of the housing market in addition to creating immediate equity. Increase of real estate value by percentage in Australian Districts View here:http://www.use-your-equity.com/BuyingHousesatadiscount.html As we can see from the graph, housing prices eventually all go up due to increasing demand.
The only time you can loose money is if you sell. If you never sell you will never loose money. You may loose equity when the market goes into recession, but eventually as population and demand for housing increases the property you have purchased will appreciate. If you are looking to continuously gain equity you must purchase in high capital gain areas.
When the market is booming try to purchase properties for a 5%-10% discount.
When the market is flat try to purchase properties for a 10%-15% discount.
When the market is in recession try to purchase properties for a 15%-30% discount.
Now that you've purchased your house or home for a discount and gained equity, you should consider using the equity you've created. After all its just sitting in your home doing nothing unless you use it!
About the author:
Owned by John Whiteside from www.use-your-equity.com, we can show you how to use and create equity in your home to make you money. Primarily through real estate investing.
Car Insurance Group Costs Save Discount
With a group of car insurance, car insurance easier to obtain. For example, if you are a member of a group of owners of Honda vehicles. Then, you can easily find the cheapest car insurance for your vehicle. While reducing the insurance premium is much more effective by using a select group discounts.
Being in the same insurance group, is also effectively used to get a cheap car with your friend or relative. Especially if you have a large family that uses multiple car insurance, then you really should consider the most appropriate insurance company, dependable, offering cheap car insurance, and have a better offer, of course, with car insurance group costs save discount into consideration. This way you will get a better deal.
Office colleagues and co-workers can also team up and purchase car insurance together. Again, the group discount can also be negotiated in this situation, allowing you to enjoy better car insurance deal without hassle. Don’t forget to mention how many people listing to buy car insurance in the group; the more people purchase the car insurance, the more group discount you will get. Don’t be surprised to get maximum car insurance coverage for as much as £200 less on annual insurance premium.
Overall, if you are in the condition mentioned above, it can be concluded that a car insurance group costs save discount effectiveness represents a great opportunity to reduce insurance premiums. Begin by collecting the option group. compare them to find the most profitable in accordance with a certain budget limit, and do not forget to introduce the idea of collective purchasing and friends and your family.
Many other things that can become your advantage by having a car insurance group discount save costs. Enjoy a cheap insurance premium but you can still get an optimal service, for example adding a car alarm for the safety of your car, a simple steering wheel lock. You can learn more details and find out how you can get the maximum benefit. Consult with your insurance car agent for further steps or search via the internet.
Business loans: if you know how to make good use of money and expertise
By Pamella Scott
Are their rewards of being your own boss? Yes, in fact many – you make the rules, you work for yourself, you take home the profits and you get to do what you want. Business and finances are closely intertwined. Finances are basic to business development. Any new scheme or business idea requires money to grow. Business loans are the most popular way of raising finances for business.
A typical advantage of business loans is that the loan lending company or the bank has claim only on the interest rate of the loan. Unlike an equity investor, the loan lender would not be entitled to percentage in business profits or share in the company. You retain the ownership of your business. Business loans can get money fast and easy for any kind of business need like starting a small business, refinancing, expanding your business, purchase or any other commercial investment.
Business loans are offered as secured and unsecured business loans. A secured business loan can serve as the simplest, most efficient way of finding finances for your business plan. Secured business loans come with many benefits which include lower monthly payments, facility to borrow more and spreading the repayment over a longer period of time.
Secured business loans certainly score more than other form of finances. With secured business loans you can boast of flexibility which allows you to conserve your cash and working capital. You can use these funds for any purpose like paying off current debts. Secured business loan can provide you with the ability to design your very own repayment schedule that fits your budget. You can get access to cash with minimal up-front payments.
A secured business loan would enable you to retain the legal title of the assets you are placing as security. Your home, real estate, commercial equipment, vehicle or any valuable asset can act as security for secured business loans. The main disadvantage with secured business loan includes the fact that there may be many events that may be taken as defaults on the loan like late payments, bankruptcy and violation of any obligations in the loan documents. Talking openly with your lender about any default can easily sort out any inconvenience at all regarding secured business loans.
Unsecured business loans also offer similar advantages as its secured counterpart minus offering any collateral for the loan claim. However, unsecured business loans might entail a higher rate of interest. The benefits of flexibility, retention of ownership, budgeting is same as secured business loan. Interest payments on unsecured business loans are tax deductible, whereas purchases financed from profits are made out of taxed income. Unsecured business loan are scheduled at the outset, so cash management is easy. With unsecured business loan you would be required to provide some additional guarantees which can be supplied from your bank, your partners or you. This may affect your credit rating and standing with your bank.
Credit history is the criterion that helps the lender to decide whether you are a credit risk or not with respect to unsecured business loans. A credit history that is flooded with late payments, defaults or bankruptcies won’t leave a positive impact on the loan lender. If your credit history is poor, an unsecured business loan application with a letter explaining your changed circumstance would leave a positive impact. Honesty in giving out credit information is the best way to deal with negative credit. The best way of getting your unsecured business loan approved is to prove that you can and will repay the loan. Also, showing that you have invested in your business would provide the lender with the satisfaction of knowing that his financial interests is united with yours.
For business loan, be prepared with business financial statements, business plan with financial projection, personal tax returns. There will be questions asked. Be prepared to answer them. Emphasize on your financial performance and get an accountant to help you with it. Be clear about why you need this business loan and be prepared to explain that to the loan lender. The loan amount on business loan can range from £50,000 to £200,000 and above depending on your status.
Getting money through business loans - is only the first step. The next step is being a good borrower. This will provide you with the cooperation when you require it. You would be required to produce financial statements on a regular basis. Be ready to provide them. Understanding the requirements and executing them is the best way to developing good business relationships. Not everyone has the acumen to start a business. You have that, don’t let it go awry. Take a business loan.
About the author:
Few identifiers are necessary to identify your kind of loan. An unprepared borrower might find it very confusing to get out of the jargon of loans in UK. A loans borrower/user demands for timely, reliable, accessible, comprehensive, relevant and consistent loan service.Pamella scott is constantly trying to help you find such a loan service online.To find Secured loans,secured personal loans,secured debt consolidation loans in uk that best suits your need visit http://www.easyfinance4u.com
Are their rewards of being your own boss? Yes, in fact many – you make the rules, you work for yourself, you take home the profits and you get to do what you want. Business and finances are closely intertwined. Finances are basic to business development. Any new scheme or business idea requires money to grow. Business loans are the most popular way of raising finances for business.
A typical advantage of business loans is that the loan lending company or the bank has claim only on the interest rate of the loan. Unlike an equity investor, the loan lender would not be entitled to percentage in business profits or share in the company. You retain the ownership of your business. Business loans can get money fast and easy for any kind of business need like starting a small business, refinancing, expanding your business, purchase or any other commercial investment.
Business loans are offered as secured and unsecured business loans. A secured business loan can serve as the simplest, most efficient way of finding finances for your business plan. Secured business loans come with many benefits which include lower monthly payments, facility to borrow more and spreading the repayment over a longer period of time.
Secured business loans certainly score more than other form of finances. With secured business loans you can boast of flexibility which allows you to conserve your cash and working capital. You can use these funds for any purpose like paying off current debts. Secured business loan can provide you with the ability to design your very own repayment schedule that fits your budget. You can get access to cash with minimal up-front payments.
A secured business loan would enable you to retain the legal title of the assets you are placing as security. Your home, real estate, commercial equipment, vehicle or any valuable asset can act as security for secured business loans. The main disadvantage with secured business loan includes the fact that there may be many events that may be taken as defaults on the loan like late payments, bankruptcy and violation of any obligations in the loan documents. Talking openly with your lender about any default can easily sort out any inconvenience at all regarding secured business loans.
Unsecured business loans also offer similar advantages as its secured counterpart minus offering any collateral for the loan claim. However, unsecured business loans might entail a higher rate of interest. The benefits of flexibility, retention of ownership, budgeting is same as secured business loan. Interest payments on unsecured business loans are tax deductible, whereas purchases financed from profits are made out of taxed income. Unsecured business loan are scheduled at the outset, so cash management is easy. With unsecured business loan you would be required to provide some additional guarantees which can be supplied from your bank, your partners or you. This may affect your credit rating and standing with your bank.
Credit history is the criterion that helps the lender to decide whether you are a credit risk or not with respect to unsecured business loans. A credit history that is flooded with late payments, defaults or bankruptcies won’t leave a positive impact on the loan lender. If your credit history is poor, an unsecured business loan application with a letter explaining your changed circumstance would leave a positive impact. Honesty in giving out credit information is the best way to deal with negative credit. The best way of getting your unsecured business loan approved is to prove that you can and will repay the loan. Also, showing that you have invested in your business would provide the lender with the satisfaction of knowing that his financial interests is united with yours.
For business loan, be prepared with business financial statements, business plan with financial projection, personal tax returns. There will be questions asked. Be prepared to answer them. Emphasize on your financial performance and get an accountant to help you with it. Be clear about why you need this business loan and be prepared to explain that to the loan lender. The loan amount on business loan can range from £50,000 to £200,000 and above depending on your status.
Getting money through business loans - is only the first step. The next step is being a good borrower. This will provide you with the cooperation when you require it. You would be required to produce financial statements on a regular basis. Be ready to provide them. Understanding the requirements and executing them is the best way to developing good business relationships. Not everyone has the acumen to start a business. You have that, don’t let it go awry. Take a business loan.
About the author:
Few identifiers are necessary to identify your kind of loan. An unprepared borrower might find it very confusing to get out of the jargon of loans in UK. A loans borrower/user demands for timely, reliable, accessible, comprehensive, relevant and consistent loan service.Pamella scott is constantly trying to help you find such a loan service online.To find Secured loans,secured personal loans,secured debt consolidation loans in uk that best suits your need visit http://www.easyfinance4u.com
BAD NEWS - WHY THE FINANCIAL NEWS MEDIA CAN COST YOU MONEY!
By Dr. Scott Brown, Ph.D.
The communication innovations we have around us today like the internet, financial newspapers, and special interest television channels focused on investing like CNBC are a high speed pipeline of nonsensical chatter. All these sources of information mean that there is no shortage of media people trying to answer our questions about the stock market and specific stocks. You have to remember that the news media are constantly competing to survive against other stuff you can watch. If they don’t always sound like they know exactly what is going on then you won’t watch their presentations. If you don’t tune into their show then their ratings go down. If their ratings go down they get fired and their show gets cancelled.
This means that financial journalists are in the business of finding great stories and sounding like authorities no matter what. The stock market is a great place for them to dig up news ‘scoops’ to feed to the public. They don’t really check their facts very well and sometimes not at all. This means that if some insider wants to feed you a line of bull manure then all they have to do is maintain good connections with financial journalists, sponsor an investment show, or outright buy an investing TV channel like Jack Welsh the CEO of GE did when he set up CNBC. What a great way for inside executives to control the flow of news information to the public then to actually own one of the only financial news channels…but not so great for you!
These journalists also kick up the fire by bringing in so-called ‘experts’ to talk about each side of some topic that real experts would not consider important.
This just makes it all the more confusing for the public to understand what is important when buying or selling a stock. Shows on CNBC like ‘Closing Bell’, ‘Kudlow & Company’, and ‘Mad Money’ do nothing but confuse and misdirect the attention of most individual investors in the public. Even worse this means that the financial news media allows overpriced stocks to be recommended through analysts in the inside web that inside executives are dumping on the public because they are trying to get out. This actually happened at the top of the bull market in 1999. For a great historical description of what happened read Maggie Mahar’s book entitled “Bull.”
The famous Yale University Economist, Prof. Bob Shiller, Ph.D. is particularly harsh on the media in his book “Irrational Exuberance.” Dr. Shiller is one the economists that Alan Greenspan respects most and where he got the term “Irrational Exuberance.” He portrays the media as sound-bite-driven where superficial opinions are preferred over in-depth analyses. I agree whole heartedly with him and contend that it is also done just because the industry would rather have the retail investor confused and emotionally pliable to get you to buy and sell when they want with total disregard for your best interests!
People who had invested their life savings in the stock market were ripped off in the stock market because the financial news media and analysts were hyping up what a great buy stocks were at the very top of the market in 1999 and 2000. At the same time inside corporate executives were selling out everything they had. What is amazing is that our federal government in the form of the Security Exchange Commission never did a thing about it. There was never a blanket case taken or an outcry that almost all of the inside executives had somehow magically sold out of the market six months before the market crashed.
Here is the valuable tip I want you to consider: when you are a beginner investor it is important that you DO NOT WATCH THE FINANCIAL NEWS OR READ THE FINANCIAL NEWSPAPERS! Don’t let the stock market industry lead you around by the nose like livestock to the slaughter house. Don’t listen to what they want you to listen to. You should focus on learning what is important in the stock market and the mass media will only confuse you until you have educated yourself.
Recommended reading:
1. Mahar, M. Bull! A History of the Boom, 1929-1999 (New York, HarperBusiness , 2003)
2. Shiller, R., Irrational Exhuberance, (New York, Broadway Books, 2000)
I wish you the great abundance in your life you deserve because of what you are and don’t forget that happiness is found only in the precious present moment!
About the author:
About the author: Dr. Scott Brown, Ph.D., the Wallet Doctor, is a successful futures trader, real estate investor, and stock investor. Dr. Brown holds a Ph.D. in finance from the University of South Carolina and a Master in International Management from the prestigious American Graduate School of International Business a.k.a. Thunderbird. His 1998 articles in Technical Analysis of Stocks and Commodities were prophetic in predicting an impending stock market crash. He has helped many people become profitable investors by looking out over many years to spot stocks that are low and primed for rise in the new bull market. His second article met with approval by Dr. Bob Shiller of Yale University. Dr. Shiller is the economist that Alan Greenspan most highly regards who coined the term “Irrational Exuberance.” In 1998 he was shouting out to the world to “get out” of the stock market but now he is shouting to everyone that it is time to “get in!” The Wallet Doctor is not only sought after for investment advice and coaching in stock investing but also in futures trading and real estate investing. He also teaches investing in Spanish and Portuguese. For more information visit Dr. Brown’s site at www.BonanzaBase.comor sign up for his investment tips at www.WalletDoctor.com
The communication innovations we have around us today like the internet, financial newspapers, and special interest television channels focused on investing like CNBC are a high speed pipeline of nonsensical chatter. All these sources of information mean that there is no shortage of media people trying to answer our questions about the stock market and specific stocks. You have to remember that the news media are constantly competing to survive against other stuff you can watch. If they don’t always sound like they know exactly what is going on then you won’t watch their presentations. If you don’t tune into their show then their ratings go down. If their ratings go down they get fired and their show gets cancelled.
This means that financial journalists are in the business of finding great stories and sounding like authorities no matter what. The stock market is a great place for them to dig up news ‘scoops’ to feed to the public. They don’t really check their facts very well and sometimes not at all. This means that if some insider wants to feed you a line of bull manure then all they have to do is maintain good connections with financial journalists, sponsor an investment show, or outright buy an investing TV channel like Jack Welsh the CEO of GE did when he set up CNBC. What a great way for inside executives to control the flow of news information to the public then to actually own one of the only financial news channels…but not so great for you!
These journalists also kick up the fire by bringing in so-called ‘experts’ to talk about each side of some topic that real experts would not consider important.
This just makes it all the more confusing for the public to understand what is important when buying or selling a stock. Shows on CNBC like ‘Closing Bell’, ‘Kudlow & Company’, and ‘Mad Money’ do nothing but confuse and misdirect the attention of most individual investors in the public. Even worse this means that the financial news media allows overpriced stocks to be recommended through analysts in the inside web that inside executives are dumping on the public because they are trying to get out. This actually happened at the top of the bull market in 1999. For a great historical description of what happened read Maggie Mahar’s book entitled “Bull.”
The famous Yale University Economist, Prof. Bob Shiller, Ph.D. is particularly harsh on the media in his book “Irrational Exuberance.” Dr. Shiller is one the economists that Alan Greenspan respects most and where he got the term “Irrational Exuberance.” He portrays the media as sound-bite-driven where superficial opinions are preferred over in-depth analyses. I agree whole heartedly with him and contend that it is also done just because the industry would rather have the retail investor confused and emotionally pliable to get you to buy and sell when they want with total disregard for your best interests!
People who had invested their life savings in the stock market were ripped off in the stock market because the financial news media and analysts were hyping up what a great buy stocks were at the very top of the market in 1999 and 2000. At the same time inside corporate executives were selling out everything they had. What is amazing is that our federal government in the form of the Security Exchange Commission never did a thing about it. There was never a blanket case taken or an outcry that almost all of the inside executives had somehow magically sold out of the market six months before the market crashed.
Here is the valuable tip I want you to consider: when you are a beginner investor it is important that you DO NOT WATCH THE FINANCIAL NEWS OR READ THE FINANCIAL NEWSPAPERS! Don’t let the stock market industry lead you around by the nose like livestock to the slaughter house. Don’t listen to what they want you to listen to. You should focus on learning what is important in the stock market and the mass media will only confuse you until you have educated yourself.
Recommended reading:
1. Mahar, M. Bull! A History of the Boom, 1929-1999 (New York, HarperBusiness , 2003)
2. Shiller, R., Irrational Exhuberance, (New York, Broadway Books, 2000)
I wish you the great abundance in your life you deserve because of what you are and don’t forget that happiness is found only in the precious present moment!
About the author:
About the author: Dr. Scott Brown, Ph.D., the Wallet Doctor, is a successful futures trader, real estate investor, and stock investor. Dr. Brown holds a Ph.D. in finance from the University of South Carolina and a Master in International Management from the prestigious American Graduate School of International Business a.k.a. Thunderbird. His 1998 articles in Technical Analysis of Stocks and Commodities were prophetic in predicting an impending stock market crash. He has helped many people become profitable investors by looking out over many years to spot stocks that are low and primed for rise in the new bull market. His second article met with approval by Dr. Bob Shiller of Yale University. Dr. Shiller is the economist that Alan Greenspan most highly regards who coined the term “Irrational Exuberance.” In 1998 he was shouting out to the world to “get out” of the stock market but now he is shouting to everyone that it is time to “get in!” The Wallet Doctor is not only sought after for investment advice and coaching in stock investing but also in futures trading and real estate investing. He also teaches investing in Spanish and Portuguese. For more information visit Dr. Brown’s site at www.BonanzaBase.comor sign up for his investment tips at www.WalletDoctor.com
Bad Credit Home Loans
By Ethan Hunter
There was a time that seems like decades ago when people with less than pristine credit were not able to get home loans. At that time people with bad credit were all but assured that their dreams of homeownership would never come to fruition. Luckily, for many people, those days are long gone.
Homeownership is possible for people with bad credit and no credit history at all thanks in large part to a multitude of loan packages made available by countless lenders. Good people with bad credit can now get approved for mortgages and despite what you may have heard from a well intended but misinformed friend or family members, these loans can be at very competitive rates.
In today's economy if mortgages were made available only to people with pristine credit, the real estate market would collapse. There are simply not enough people in America today with pristine credit. Lenders were forced to create packages available for people with bankruptcies, bad credit histories or no credit histories at all. To remain competitive lenders had to create these packages and you can be the beneficiary of them.
Though it is true that some packages remain available only to those with excellent or very good credit, there are just as many, if not more packages that are made available to people with mediocre or poor credit, including past bankruptcy. These packages are available at all different interest rates and nuances that allow greater flexibility in coming up with a package that makes sense for you.
Lenders are now looking at an overall loan application including income, credit history, appraised value of the home and selling price. They will examine how recent or far back your credit problems occurred. They will consider the instant equity in the home (appraised value versus selling price), as well as your income and ability to pay your monthly payments. When looking at income they can, if you want them to, consider all forms of income.
The more recent the bad credit in your credit reports are the tougher it may be to get approved for some packages, but it is still not impossible. You will want to have a good sense of what is in your credit report so you are prepared to correct any problems in the report. There are countless credit repair programs available that will help you improve your credit score.
Past bankruptcies are not necessarily a death sentence for homeownership and depending on how long ago they occurred they may not hinder the mortgage process at all for you. It is always important to keep copies of your discharge papers and a complete record of your bankruptcy. Your lender may require copies of some of the documentation. They will want to see exactly what was discharged. If there was a mortgage that was discharged in bankruptcy it will impact which mortgage packages are made available to you, but even then there may be mortgage packages that you can still be approved for.
It seems all too often that people with bad credit feel that they are unable to get beyond their past. Owning a home and showing on-time mortgage payments is a good way to improve your overall credit portfolio. If you are approved for a mortgage and show payments being made on time this will go along way towards improving your credit scores and improving your overall financial picture.
When applying for home loans, do not try to hide your credit history, invariably they will uncover any and all skeletons you hoped were in your credit closet. You are much better off being open and honest with your mortgage lender. A good mortgage lender will know exactly what packages they can look into for you if you give them an honest and realistic picture of your credit history and other financial matters. Tell them what is wrong in your credit report and can be fixed, what is accurate and cannot be fixed and what you are unsure about. Some lenders will allow an explanation, including proof, of incorrect items on your credit report and look beyond them while evaluating your loan. Dishonesty, however, can hurt you in the long run so be completely honest with the lending institution.
You can also consider using a co-signer for the loan who has a stronger credit history in some cases. You may be able to have them cosign the loan for a period of time and then you can refinance the loan in your name only once your credit history has been improved. This has become more common with first time homebuyers. The refinance market is strong and there will always be the opportunity to do just that.
The simple fact of the matter is that there are countless loan packages available to people with bad credit or no credit history. These loan packages can help you whether you have a large down payment, a small down payment or no down payment at all. Speaking to a mortgage lender or network of lenders that have many packages at their disposal will help you begin to realize your dreams of homeownership and put you on a path towards a much brighter financial picture.
About the author:
Ethan Hunter is the author of many credit related articles. If you are
looking for help with Home Loans or any type of credit issue please visit us at
http://www.homeloanave.com
There was a time that seems like decades ago when people with less than pristine credit were not able to get home loans. At that time people with bad credit were all but assured that their dreams of homeownership would never come to fruition. Luckily, for many people, those days are long gone.
Homeownership is possible for people with bad credit and no credit history at all thanks in large part to a multitude of loan packages made available by countless lenders. Good people with bad credit can now get approved for mortgages and despite what you may have heard from a well intended but misinformed friend or family members, these loans can be at very competitive rates.
In today's economy if mortgages were made available only to people with pristine credit, the real estate market would collapse. There are simply not enough people in America today with pristine credit. Lenders were forced to create packages available for people with bankruptcies, bad credit histories or no credit histories at all. To remain competitive lenders had to create these packages and you can be the beneficiary of them.
Though it is true that some packages remain available only to those with excellent or very good credit, there are just as many, if not more packages that are made available to people with mediocre or poor credit, including past bankruptcy. These packages are available at all different interest rates and nuances that allow greater flexibility in coming up with a package that makes sense for you.
Lenders are now looking at an overall loan application including income, credit history, appraised value of the home and selling price. They will examine how recent or far back your credit problems occurred. They will consider the instant equity in the home (appraised value versus selling price), as well as your income and ability to pay your monthly payments. When looking at income they can, if you want them to, consider all forms of income.
The more recent the bad credit in your credit reports are the tougher it may be to get approved for some packages, but it is still not impossible. You will want to have a good sense of what is in your credit report so you are prepared to correct any problems in the report. There are countless credit repair programs available that will help you improve your credit score.
Past bankruptcies are not necessarily a death sentence for homeownership and depending on how long ago they occurred they may not hinder the mortgage process at all for you. It is always important to keep copies of your discharge papers and a complete record of your bankruptcy. Your lender may require copies of some of the documentation. They will want to see exactly what was discharged. If there was a mortgage that was discharged in bankruptcy it will impact which mortgage packages are made available to you, but even then there may be mortgage packages that you can still be approved for.
It seems all too often that people with bad credit feel that they are unable to get beyond their past. Owning a home and showing on-time mortgage payments is a good way to improve your overall credit portfolio. If you are approved for a mortgage and show payments being made on time this will go along way towards improving your credit scores and improving your overall financial picture.
When applying for home loans, do not try to hide your credit history, invariably they will uncover any and all skeletons you hoped were in your credit closet. You are much better off being open and honest with your mortgage lender. A good mortgage lender will know exactly what packages they can look into for you if you give them an honest and realistic picture of your credit history and other financial matters. Tell them what is wrong in your credit report and can be fixed, what is accurate and cannot be fixed and what you are unsure about. Some lenders will allow an explanation, including proof, of incorrect items on your credit report and look beyond them while evaluating your loan. Dishonesty, however, can hurt you in the long run so be completely honest with the lending institution.
You can also consider using a co-signer for the loan who has a stronger credit history in some cases. You may be able to have them cosign the loan for a period of time and then you can refinance the loan in your name only once your credit history has been improved. This has become more common with first time homebuyers. The refinance market is strong and there will always be the opportunity to do just that.
The simple fact of the matter is that there are countless loan packages available to people with bad credit or no credit history. These loan packages can help you whether you have a large down payment, a small down payment or no down payment at all. Speaking to a mortgage lender or network of lenders that have many packages at their disposal will help you begin to realize your dreams of homeownership and put you on a path towards a much brighter financial picture.
About the author:
Ethan Hunter is the author of many credit related articles. If you are
looking for help with Home Loans or any type of credit issue please visit us at
http://www.homeloanave.com
Bad Credit Home Loan - How To Get A Good One?
By Bill Smith
Getting a home loan with a bad credit has never been easier. Here are some of the tips recommended by experts to improve your chances of getting a home loan:
Find a good deal on your home:
If you can snap up a home as cheaper rates compared to the local market, you may have an easier time getting financing on that property. To the lender or financial institution, it is as good as having a down payment on your home. There are some lenders who consider loan to value ratio before approving a home loan. Ask your mortgage lender if this factor can help you get qualified for your home loan.
Creative financing:
If the seller is motivated, ask if they are willing to carry back a second mortgage on the home. On approval, you can set up a contract or agreement with the seller that you agree to pay monthly payments on the property, as a second mortgage. To make it easy on the seller, it is best recommended to have an end date by which you intend to pay back the amount owed. On an average, 2 years are enough for you to refinance the second mortgage and the seller does not feel permanently locked into the agreement.
Make a downpayment:
You may be able to qualify for a 100 inancing even with a bad credit. However, if you pay a 5-10 own, your interest payments will be much lower. Try to save as much as you can for your down payment. At times, it is best advised to wait for a few months to be able to make a down payment. If you cannot afford to have a down payment, you may always refinance your loan later for a lower interest rate.
Comparison shopping does help:
It is important to do a comparison shopping and get loan quotes from multiple lenders. If you have a bad credit, you will be surprised how much the interest rate varies. Let the loan lender know that you are getting multiple offers and you are considering the lowest rates. Lenders will squeeze their margins to win your business.
Work on improving your credit score:
Request a free credit report from any of the credit bureaus. If you were denied credit recently, you can get a free report. Report any inaccuracies as soon as possible. Now it is easier to report inaccuracies on the websites for each of the three credit bureaus. Too many credit cards can negatively affect your credit score. Close the accounts that you no longer need.
Don’t let bad credit stop you from owning a home. There are plenty of lenders out there to get a piece of your business. Apply with multiple lenders and compare their offers.
About the author:
@Copyrights - Bill A Smith is a credit counselor for Ameri credit counseling and credit management agency. Visit us at http://www.americreditservices.com/for credit counseling.
Getting a home loan with a bad credit has never been easier. Here are some of the tips recommended by experts to improve your chances of getting a home loan:
Find a good deal on your home:
If you can snap up a home as cheaper rates compared to the local market, you may have an easier time getting financing on that property. To the lender or financial institution, it is as good as having a down payment on your home. There are some lenders who consider loan to value ratio before approving a home loan. Ask your mortgage lender if this factor can help you get qualified for your home loan.
Creative financing:
If the seller is motivated, ask if they are willing to carry back a second mortgage on the home. On approval, you can set up a contract or agreement with the seller that you agree to pay monthly payments on the property, as a second mortgage. To make it easy on the seller, it is best recommended to have an end date by which you intend to pay back the amount owed. On an average, 2 years are enough for you to refinance the second mortgage and the seller does not feel permanently locked into the agreement.
Make a downpayment:
You may be able to qualify for a 100 inancing even with a bad credit. However, if you pay a 5-10 own, your interest payments will be much lower. Try to save as much as you can for your down payment. At times, it is best advised to wait for a few months to be able to make a down payment. If you cannot afford to have a down payment, you may always refinance your loan later for a lower interest rate.
Comparison shopping does help:
It is important to do a comparison shopping and get loan quotes from multiple lenders. If you have a bad credit, you will be surprised how much the interest rate varies. Let the loan lender know that you are getting multiple offers and you are considering the lowest rates. Lenders will squeeze their margins to win your business.
Work on improving your credit score:
Request a free credit report from any of the credit bureaus. If you were denied credit recently, you can get a free report. Report any inaccuracies as soon as possible. Now it is easier to report inaccuracies on the websites for each of the three credit bureaus. Too many credit cards can negatively affect your credit score. Close the accounts that you no longer need.
Don’t let bad credit stop you from owning a home. There are plenty of lenders out there to get a piece of your business. Apply with multiple lenders and compare their offers.
About the author:
@Copyrights - Bill A Smith is a credit counselor for Ameri credit counseling and credit management agency. Visit us at http://www.americreditservices.com/for credit counseling.
Bad-Credit Car Loans Are Possible
By Joel Walsh
Bad-credit car loans may not be easy to find, but if you need a car, they are worth it.
Bad-credit car loans carry a higher risk to the lender, so the borrower must pay a higher than usual interest rate. You probably will need to apply to more than one lender and give more documentation. Still, a bad-credit loan is worth the trouble because it not only lets you get the car you need and want, but can also help improve your overall credit rating.
Getting a Car Loan with Bad Credit: 4 Steps
1. Contact Equifax, Consumerinfo, or TrueCredit online for your credit score or to make sure there are no errors on your credit report. You can usually dispute the incorrect information online or over the telephone. If you have correct unfavorable information, you can write a letter to the company that reported the unfavorable information, asking them to remove that information or make a note that your accounts are now in good standing. Usually they won't do this, but it doesn't hurt to try.
2. Determine your credit score (also called a FICO score). There are simple online guidelines for estimating your credit score yourself. Still, to get a truly accurate score, you need to purchase it from the credit bureaus.
a. Note that each bureau may have a slightly different score (and possibly a very different score if they have information the others do not). There are online credit-monitoring services that will provide you a single report with all three reports and credit scores.
b. A score of over 680 out of 850 will get you a low-rate auto loan. Under 680 will mean a higher rate but a loan is still quite likely. Bad credit begins around 650 and lower. You will be charged high interest no matter where you go, and may not qualify for as large a loan. But it will still be a loan nonetheless.
3. Look on the Internet for names of lenders that specialize in bad credit car financing. They can be private lenders, car dealers or any website offering this type of loan help. Compare the rates and terms with what your own bank offers. Make a short list of lenders with good rates and terms.
4. Call up the lenders and ask them about their credit guidelines. They will often be reluctant to state a single FICO score, but you can sometimes get them to tell you a range. It’s important to make sure you have a fighting chance at approval before applying. A bunch of rejected loan applications will look bad on your credit report--creating a vicious cycle that makes it even harder to get a loan.
Bad Credit Car Loans: A Typical Story
Stephen got a credit monitoring service to provide him with his reports from the three credit bureaus, as well as their three FICO scores. He was shocked to find his credit score was 560. He was reported as having defaulted on one of his students loans, which was incorrect. He was able to get that removed quickly. But his credit rating was still well below 650.
What should Stephen do now? Of course, Steven should work to repair his credit rating:
• Pay all bills on time.
• Stay at the same address and the same job for a few years if at all possible.
• Contact the lenders who reported negative information to the credit bureaus to see if they will remove it or amend it to emphasize that his accounts were eventually returned to good standing.
But in the meantime, Steve needs a car loan. His job isn’t a on a bus route and he can’t pay cash. After careful research on the internet, Steve finds he could get a high-interest bad-credit auto loan. The loan will also give Steve another chance to restore his credit.
To take a bite out of the interest, Steve gets a friend of his who’s a mechanic to help him find an inexpensive but reliable used car—which means a smaller loan and therefore smaller interest payments. He also dips into his savings and 401(k) to pay as much up front as he can, since the interest on the car loan will outpace the interest he could earn on these accounts.
Five years later, Steve’s credit rating is as good as gold and he trades his used car in for the car he always wanted.
What will you be driving in five years? If you plan well and get the best deal possible on your bad credit car loan, you’ll go far whatever you’re driving.
About the author:
Joel Walsh has written more tips on how to get a car loan with bad credit: http://www.cars-auto-loans.com?car loan with bad credit [Web publication requirement: create live link for the URL/web address using "car loan with bad credit" as visible link text/anchor text; EXCEPT if redistributing (article bank, aggregator, or clearinghouse), anchor text optional.]
Bad-credit car loans may not be easy to find, but if you need a car, they are worth it.
Bad-credit car loans carry a higher risk to the lender, so the borrower must pay a higher than usual interest rate. You probably will need to apply to more than one lender and give more documentation. Still, a bad-credit loan is worth the trouble because it not only lets you get the car you need and want, but can also help improve your overall credit rating.
Getting a Car Loan with Bad Credit: 4 Steps
1. Contact Equifax, Consumerinfo, or TrueCredit online for your credit score or to make sure there are no errors on your credit report. You can usually dispute the incorrect information online or over the telephone. If you have correct unfavorable information, you can write a letter to the company that reported the unfavorable information, asking them to remove that information or make a note that your accounts are now in good standing. Usually they won't do this, but it doesn't hurt to try.
2. Determine your credit score (also called a FICO score). There are simple online guidelines for estimating your credit score yourself. Still, to get a truly accurate score, you need to purchase it from the credit bureaus.
a. Note that each bureau may have a slightly different score (and possibly a very different score if they have information the others do not). There are online credit-monitoring services that will provide you a single report with all three reports and credit scores.
b. A score of over 680 out of 850 will get you a low-rate auto loan. Under 680 will mean a higher rate but a loan is still quite likely. Bad credit begins around 650 and lower. You will be charged high interest no matter where you go, and may not qualify for as large a loan. But it will still be a loan nonetheless.
3. Look on the Internet for names of lenders that specialize in bad credit car financing. They can be private lenders, car dealers or any website offering this type of loan help. Compare the rates and terms with what your own bank offers. Make a short list of lenders with good rates and terms.
4. Call up the lenders and ask them about their credit guidelines. They will often be reluctant to state a single FICO score, but you can sometimes get them to tell you a range. It’s important to make sure you have a fighting chance at approval before applying. A bunch of rejected loan applications will look bad on your credit report--creating a vicious cycle that makes it even harder to get a loan.
Bad Credit Car Loans: A Typical Story
Stephen got a credit monitoring service to provide him with his reports from the three credit bureaus, as well as their three FICO scores. He was shocked to find his credit score was 560. He was reported as having defaulted on one of his students loans, which was incorrect. He was able to get that removed quickly. But his credit rating was still well below 650.
What should Stephen do now? Of course, Steven should work to repair his credit rating:
• Pay all bills on time.
• Stay at the same address and the same job for a few years if at all possible.
• Contact the lenders who reported negative information to the credit bureaus to see if they will remove it or amend it to emphasize that his accounts were eventually returned to good standing.
But in the meantime, Steve needs a car loan. His job isn’t a on a bus route and he can’t pay cash. After careful research on the internet, Steve finds he could get a high-interest bad-credit auto loan. The loan will also give Steve another chance to restore his credit.
To take a bite out of the interest, Steve gets a friend of his who’s a mechanic to help him find an inexpensive but reliable used car—which means a smaller loan and therefore smaller interest payments. He also dips into his savings and 401(k) to pay as much up front as he can, since the interest on the car loan will outpace the interest he could earn on these accounts.
Five years later, Steve’s credit rating is as good as gold and he trades his used car in for the car he always wanted.
What will you be driving in five years? If you plan well and get the best deal possible on your bad credit car loan, you’ll go far whatever you’re driving.
About the author:
Joel Walsh has written more tips on how to get a car loan with bad credit: http://www.cars-auto-loans.com?car loan with bad credit [Web publication requirement: create live link for the URL/web address using "car loan with bad credit" as visible link text/anchor text; EXCEPT if redistributing (article bank, aggregator, or clearinghouse), anchor text optional.]
Auto Loan Borrower's Cheat Sheet
By Joel Walsh
Most people really get taken for a ride on their auto loan. Did you know that differences in the total cost of different auto loans for the same car can run into a thousand dollars or more? Here’s how you can get the lowest rate:
• Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer (the web is usually the easiest way to do that). Did you know dealers get a commission on the loans they refer? If you’re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.
• Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal. Knowing exactly what your score is will help you figure out what interest rate you can realistically get.
• Have bad credit? Try going to your credit union, bank or another institution where you have a relationship. Lenders like to help out established customers. If your bank still won’t help, online “bad credit auto loan” lenders usually offer better less expensive loans than dealers who advertise their great deals for people with poor credit.
• Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can’t afford, makes you aware of what information you’ll need to apply for a loan, and is a “reality check” of your financial condition.
• Comparison shop, comparison shop, comparison shop. You don’t get the least expensive car by choosing a dealer at random, and you won’t get the least expensive auto loan that way, either.
About the author:
Joel Walsh is a regular contributor to cars-auto-loans.com, where you can get information on car loan lenders, use a vehicle loan calculator, and find the best auto loan: http://cars-auto-loans.com?auto loan [Web publication requirement: create live link for the URL/web address using "auto loan" as visible link text/anchor text.]
Most people really get taken for a ride on their auto loan. Did you know that differences in the total cost of different auto loans for the same car can run into a thousand dollars or more? Here’s how you can get the lowest rate:
• Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer (the web is usually the easiest way to do that). Did you know dealers get a commission on the loans they refer? If you’re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.
• Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal. Knowing exactly what your score is will help you figure out what interest rate you can realistically get.
• Have bad credit? Try going to your credit union, bank or another institution where you have a relationship. Lenders like to help out established customers. If your bank still won’t help, online “bad credit auto loan” lenders usually offer better less expensive loans than dealers who advertise their great deals for people with poor credit.
• Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can’t afford, makes you aware of what information you’ll need to apply for a loan, and is a “reality check” of your financial condition.
• Comparison shop, comparison shop, comparison shop. You don’t get the least expensive car by choosing a dealer at random, and you won’t get the least expensive auto loan that way, either.
About the author:
Joel Walsh is a regular contributor to cars-auto-loans.com, where you can get information on car loan lenders, use a vehicle loan calculator, and find the best auto loan: http://cars-auto-loans.com?auto loan [Web publication requirement: create live link for the URL/web address using "auto loan" as visible link text/anchor text.]
Auto Loan Borrower's Cheat Sheet
By Joel Walsh
Most people really get taken for a ride on their auto loan. Did you know that differences in the total cost of different auto loans for the same car can run into a thousand dollars or more? Here’s how you can get the lowest rate:
• Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer (the web is usually the easiest way to do that). Did you know dealers get a commission on the loans they refer? If you’re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.
• Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal. Knowing exactly what your score is will help you figure out what interest rate you can realistically get.
• Have bad credit? Try going to your credit union, bank or another institution where you have a relationship. Lenders like to help out established customers. If your bank still won’t help, online “bad credit auto loan” lenders usually offer better less expensive loans than dealers who advertise their great deals for people with poor credit.
• Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can’t afford, makes you aware of what information you’ll need to apply for a loan, and is a “reality check” of your financial condition.
• Comparison shop, comparison shop, comparison shop. You don’t get the least expensive car by choosing a dealer at random, and you won’t get the least expensive auto loan that way, either.
About the author:
Joel Walsh is a regular contributor to cars-auto-loans.com, where you can get information on car loan lenders, use a vehicle loan calculator, and find the best auto loan: http://cars-auto-loans.com?auto loan [Web publication requirement: create live link for the URL/web address using "auto loan" as visible link text/anchor text.]
Most people really get taken for a ride on their auto loan. Did you know that differences in the total cost of different auto loans for the same car can run into a thousand dollars or more? Here’s how you can get the lowest rate:
• Make a list of different auto loan lenders and their interest rates and terms, before you go to the dealer (the web is usually the easiest way to do that). Did you know dealers get a commission on the loans they refer? If you’re not careful, that extra bit of money for the lender could mean you pay a higher rate than you would if you got the loan yourself.
• Get a credit report and figure out your FICO scores. Removing any incorrect negative information from your report will help you get a better deal. Knowing exactly what your score is will help you figure out what interest rate you can realistically get.
• Have bad credit? Try going to your credit union, bank or another institution where you have a relationship. Lenders like to help out established customers. If your bank still won’t help, online “bad credit auto loan” lenders usually offer better less expensive loans than dealers who advertise their great deals for people with poor credit.
• Use a vehicle loan calculator. It will tell you what your loan will cost each month. It saves you the time of looking at vehicles you can’t afford, makes you aware of what information you’ll need to apply for a loan, and is a “reality check” of your financial condition.
• Comparison shop, comparison shop, comparison shop. You don’t get the least expensive car by choosing a dealer at random, and you won’t get the least expensive auto loan that way, either.
About the author:
Joel Walsh is a regular contributor to cars-auto-loans.com, where you can get information on car loan lenders, use a vehicle loan calculator, and find the best auto loan: http://cars-auto-loans.com?auto loan [Web publication requirement: create live link for the URL/web address using "auto loan" as visible link text/anchor text.]
A Candle Is Better Than a Bar Any Day
By David Chandler
There are various ways that stock prices are represented on charts.
The most common charts are what are known as:
" line
" bar
" candlestick.
Line charts are what you typically see on the TV or in newspapers. They represent price action by a single line.
They only show the closing prices of the stock and are of little use to traders. Because they do not show what has happened during the day.
Bar charts represent both the open and close prices. In addition, they include the high and low of the day. These four prices are critical for your full analysis of a stock's price action.
Candlestick charts show us all the price information of a bar chart but in a far more graphical and clear way.
The "story' of the stock literally jumps out at you.
When we were first introduced to trading it was with bar charts. However, when we discovered candlesticks a few years back we immediately saw the clarity and detail that they provided.
They may seem a little strange to you at first but do persevere. We can assure you that they are the only sort of chart to use!
In addition, candlestick patterns, particularly reversal patterns are one of our favorite tools in chart analysis. Doji, shooting stars and inverted hammers may sound a bit weird at first but they are some of the best friends a trader can ever have!
Therefore, if you are not familiar with candlestick charts and patterns I would strongly suggest that you learn more, now.
In addition, the VERY BEST explanation of candlesticks [apart from the SMG Tutorials of course!] is Louise Bedford's "The Secret of Candlestick Charting". It is on our booklist in: www.stockmarketgenie.com/resources
The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and has not worked for us personally. If you wish to trade or invest in the stock market, you should obtain advice from a registered licensed advisor.
About the author:
David Chandler
www.stockmarketgenie.com
For your FREE Stock Market Trading Mini Course:
"What The Wall Street Hot Shots Won't Tell You!" go to: www.stockmarketgenie.com
There are various ways that stock prices are represented on charts.
The most common charts are what are known as:
" line
" bar
" candlestick.
Line charts are what you typically see on the TV or in newspapers. They represent price action by a single line.
They only show the closing prices of the stock and are of little use to traders. Because they do not show what has happened during the day.
Bar charts represent both the open and close prices. In addition, they include the high and low of the day. These four prices are critical for your full analysis of a stock's price action.
Candlestick charts show us all the price information of a bar chart but in a far more graphical and clear way.
The "story' of the stock literally jumps out at you.
When we were first introduced to trading it was with bar charts. However, when we discovered candlesticks a few years back we immediately saw the clarity and detail that they provided.
They may seem a little strange to you at first but do persevere. We can assure you that they are the only sort of chart to use!
In addition, candlestick patterns, particularly reversal patterns are one of our favorite tools in chart analysis. Doji, shooting stars and inverted hammers may sound a bit weird at first but they are some of the best friends a trader can ever have!
Therefore, if you are not familiar with candlestick charts and patterns I would strongly suggest that you learn more, now.
In addition, the VERY BEST explanation of candlesticks [apart from the SMG Tutorials of course!] is Louise Bedford's "The Secret of Candlestick Charting". It is on our booklist in: www.stockmarketgenie.com/resources
The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and has not worked for us personally. If you wish to trade or invest in the stock market, you should obtain advice from a registered licensed advisor.
About the author:
David Chandler
www.stockmarketgenie.com
For your FREE Stock Market Trading Mini Course:
"What The Wall Street Hot Shots Won't Tell You!" go to: www.stockmarketgenie.com
7 Great Tips To Save Money on Car Parts and Maintenance
By Ispas Marin
Taking care of your car maintenance can be very rewarding if done properly so here's a list of seven tips that can help you save money on your car parts and service.
1. A well tuned car can has a fuel consumption from 25% to 33% lower than a poorly tuned car making a tune-up cheaper than driving without it, tuning your car for better performance can save you between $150 and $250 per year.
2. Regardless of the number of miles the manual recommends a oil change and filter change you should change them every 3,000 miles. This is one of the most important factors in your engine's life since it's going to prolong your engine's life and you're going to save on engine car parts. The potential savings are $500 to $3000.
3. Dirty air filter means more gasoline used and reduces the engine's life so you should check it regularly, maybe monthly. The air filter can be cleaned by blowing it with a hose or can be replaced. You can save about $130 per year..
4. Using steel-belted radial tires can increase the number of miles you make per year by up to 10%, saving this way about $130 per year.
5. Most cars, don't work better on premium gas, so, unless your car is pinging or knocking you shouldn't use higher octane gas. If your car doesn't have a high performance engine, using the gas that best suits your car's engine can save you $200 to $400 per year.
6. Having under inflated tires makes your engine burn about 6% more gas so make sure you check your tire pressure regularly.
7. If your tires are improperly balanced the tread on them will be destroyed. In addition, your suspension and shock absorbers can be damaged leading to more expense on car parts and service. Balancing your tires once a year can add thousands of miles to their life.
About the author:
At http://www.mbsautoparts.comyou will find discount part prices on millions of domestic and import Auto Parts and oem parts.Cheap Mercedes Parts, BMW Parts, Porsche Parts. Our discount prices on domestic and import truck and car parts and accessories are unbeatable.
Taking care of your car maintenance can be very rewarding if done properly so here's a list of seven tips that can help you save money on your car parts and service.
1. A well tuned car can has a fuel consumption from 25% to 33% lower than a poorly tuned car making a tune-up cheaper than driving without it, tuning your car for better performance can save you between $150 and $250 per year.
2. Regardless of the number of miles the manual recommends a oil change and filter change you should change them every 3,000 miles. This is one of the most important factors in your engine's life since it's going to prolong your engine's life and you're going to save on engine car parts. The potential savings are $500 to $3000.
3. Dirty air filter means more gasoline used and reduces the engine's life so you should check it regularly, maybe monthly. The air filter can be cleaned by blowing it with a hose or can be replaced. You can save about $130 per year..
4. Using steel-belted radial tires can increase the number of miles you make per year by up to 10%, saving this way about $130 per year.
5. Most cars, don't work better on premium gas, so, unless your car is pinging or knocking you shouldn't use higher octane gas. If your car doesn't have a high performance engine, using the gas that best suits your car's engine can save you $200 to $400 per year.
6. Having under inflated tires makes your engine burn about 6% more gas so make sure you check your tire pressure regularly.
7. If your tires are improperly balanced the tread on them will be destroyed. In addition, your suspension and shock absorbers can be damaged leading to more expense on car parts and service. Balancing your tires once a year can add thousands of miles to their life.
About the author:
At http://www.mbsautoparts.comyou will find discount part prices on millions of domestic and import Auto Parts and oem parts.Cheap Mercedes Parts, BMW Parts, Porsche Parts. Our discount prices on domestic and import truck and car parts and accessories are unbeatable.
5 things pensioners applying for a loan should remember
By Nicholas Cameron
Are you a pensioner applying for a loan? Here are 5 things you should remember
As a pensioner, applying for loans and finance can be problematic. Some of the best deals in the market may be unavailable to you because you do not meet the ideal criteria that lenders look for. For example, because of your situation you may no longer be able to generate income. To make up for this, you need to make sure that other aspects of your loan application are presented strongly to allow you to obtain the loan most suited to you.
Your age may make you a credit risk
In general, the main thing that lenders consider when reviewing a credit application is risk. Your credit history, income and age may all point to you being a high credit risk and lenders may consequently decline your application. Because of these factors, senior citizens and pensioners may experience greater difficulty in obtaining a loan. However, if you can show that you are able to service your loan for the duration of the term, or even prepay the interest, you still have a good chance of succeeding in your application.
You need to demonstrate loan serviceability in your application
Regardless of your age and employment status, the main thing you need to show is that you can actually pay back the loan you wish to take out. If the lender decides that you will have no difficulty making the scheduled repayments for the term of the loan, you will probably be successful in your application. Any information you can provide regarding your assets and income will obviously be relevant.
Being an existing homeowner may help your situation
Even if you have strong income as a pensioner, a number of factors such as illness or hospitalisation may affect that income and lead to financial difficulty. If you are a homeowner, you may be able to access any funds or equity in your property to secure the loan and convince the lender that you can meet the proposed repayments for the term of the loan.
Non-standard loan facilities may be difficult to obtain
Line of credit mortgages, some long-term fixed-rate mortgages and mortgages that offer payment breaks are all innovations that have appeared in the mortgage market in recent years. Unfortunately, many of these mortgages may be unavailable to pensioners. Lines of credit, for example, which allow the homeowner to take equity out of his or her home, present greater risk to a money lender because of their potential to extend the loan period and create more opportunity for default. Because pensioners may already be considered high risk, it is unlikely that these financial products will be available.
You may be required to apply for loan insurance
Depending on your circumstances, you may wish to obtain loan insurance. This ensures that your loan repayments are met in the event of involuntary unemployment, injury or death. Although the premium may be higher than average due to your status as a pensioner, a lender may nevertheless require you to obtain loan insurance before approving your application.
About the author:
Nick Cameron is a writer for Australian Debt Reduction which is part of Australia's largest Debt Relief organisation and has assisted more than 10,000 Australian's reduce their debt. You can read more articles and find out more about how to reduce your own debt at http://www.australian-debt-reduction.comauor by calling 1300 306 272 from within Australia.
Are you a pensioner applying for a loan? Here are 5 things you should remember
As a pensioner, applying for loans and finance can be problematic. Some of the best deals in the market may be unavailable to you because you do not meet the ideal criteria that lenders look for. For example, because of your situation you may no longer be able to generate income. To make up for this, you need to make sure that other aspects of your loan application are presented strongly to allow you to obtain the loan most suited to you.
Your age may make you a credit risk
In general, the main thing that lenders consider when reviewing a credit application is risk. Your credit history, income and age may all point to you being a high credit risk and lenders may consequently decline your application. Because of these factors, senior citizens and pensioners may experience greater difficulty in obtaining a loan. However, if you can show that you are able to service your loan for the duration of the term, or even prepay the interest, you still have a good chance of succeeding in your application.
You need to demonstrate loan serviceability in your application
Regardless of your age and employment status, the main thing you need to show is that you can actually pay back the loan you wish to take out. If the lender decides that you will have no difficulty making the scheduled repayments for the term of the loan, you will probably be successful in your application. Any information you can provide regarding your assets and income will obviously be relevant.
Being an existing homeowner may help your situation
Even if you have strong income as a pensioner, a number of factors such as illness or hospitalisation may affect that income and lead to financial difficulty. If you are a homeowner, you may be able to access any funds or equity in your property to secure the loan and convince the lender that you can meet the proposed repayments for the term of the loan.
Non-standard loan facilities may be difficult to obtain
Line of credit mortgages, some long-term fixed-rate mortgages and mortgages that offer payment breaks are all innovations that have appeared in the mortgage market in recent years. Unfortunately, many of these mortgages may be unavailable to pensioners. Lines of credit, for example, which allow the homeowner to take equity out of his or her home, present greater risk to a money lender because of their potential to extend the loan period and create more opportunity for default. Because pensioners may already be considered high risk, it is unlikely that these financial products will be available.
You may be required to apply for loan insurance
Depending on your circumstances, you may wish to obtain loan insurance. This ensures that your loan repayments are met in the event of involuntary unemployment, injury or death. Although the premium may be higher than average due to your status as a pensioner, a lender may nevertheless require you to obtain loan insurance before approving your application.
About the author:
Nick Cameron is a writer for Australian Debt Reduction which is part of Australia's largest Debt Relief organisation and has assisted more than 10,000 Australian's reduce their debt. You can read more articles and find out more about how to reduce your own debt at http://www.australian-debt-reduction.comauor by calling 1300 306 272 from within Australia.
Management Information Systems and Financial Institutions
There are many types of Financial Institution out there that provide many benefits for your company. Some of them are: Strategic information systems management, customer relationship management systems and enterprise resource planning system. Here is brief information to understand the meaning of the Management Information System and Financial Institutions.
Financial institutions act as intermediaries, which is responsible for transferring funds from investors to companies that need funds.
In the formulation of financial economics, financial institutions are institutions that provide financial services to members or customers. In addition to providing financial services, financial institutions also act as financial intermediaries, this is the most important service from a financial institution, therefore the majority of financial institutions regulated by the government. Sistem informasi manajemen dan lembaga keuangan bertindak sebagai perantara, yang bertanggung jawab untuk mentransfer dana dari investor kepada perusahaan yang membutuhkan dana.
In general, management information systems and financial institutions are divided into three main types:
1.Deposit-taking institutions that receive and manage deposits and provide loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies
2.Insurance companies and pension funds, and
3.Brokers, underwriters and investment funds.
System that provides the information needed to effectively manage an organization called the management information system is a collection of three resources that are key components in studying management information systems. Information systems are also used in solving business problems, such as advertising costs, product, employee salaries, raw materials etc. Management information system is different from regular information systems, which are mostly used to analyze information systems applied in operational activities within the organization.
Today, many sites that provide management information systems and financial institutions, you easily find just by typing the keyword "management information systems and financial institutions"through a search engine like google, yahoo, bing and the other.
Webcasts and Financial Planner
A burns injury often give extraordinary pressure on the family's financial and situation led to debt increased during the restoration. There are a some family who experience a financial completion due to the cause of their accident and may not have the knowledge, skills, or information to face this urgent financial condition. The Sudden Money Institute and The Phoenix Society have collaborated to place a series of webcasts together to give you with knowledge and information of webcasts and financial planner on the following financial title:
Topic 1: INTRODUCTION
Discussion for planning the intersection of your life and your new money as set up to accept a legal settlement.
Topic 2: SETTLEMENT OPTIONS
Primary information including the different kinds of settlements, the pros and cons of each, and how to know what works optimum for you.
Topic 3: DEBT
Information to include identifying and tracking income and spending, money goals, dealing with collection agencies and creditors, and debt consolidation. This is a major priority to address before a settlement arrives.
Topic 4: HOME PURCHASE
Information on what kind of house that match for your conditions, paying cash or taking out a mortgage, owning or renting and calculation of the cost of having a house.
Topic 5: INSURANCE
Knowledge of the types of coverage you need (personal liability, auto, life, homeowners, health, long term care), what you have now and how a situation can change, and costs not covered by insurance.
Topic 6: INVESTING FOR INCOME
All the basic information about where the money generated, long term trends, inflation and taxes, evaluating risk and reward, and today living under standard, that means to afford your life in the future.
Topic 7: WORKDING WITH AN ADVISOR
All information about an investment advisor, what happens in the first meeting, registered investment advisor, registered rep, the differences between advisor and a broker, webcasts and financial planner and insurance agent, how and how much they paid.
Webcasts and financial planner education are prepared to help you organize your life plan and your financial future and guide you to make decisions that you have created so far.
We encourage you to follow each of the seven segment, complete the workbook and find a trained financial planner to help make current decisions, you can also find webcast financial planner to organize your plan and remain your trusted source of guidance for decades to come.
Your biggest investment is your time for yourself and your beloved family
Credit repair scam - How to avoid being a statistic?
By Bill Smith
A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a job. Promises to "fix" your credit are always made by credit consolidation companies, but they are seldom true. Here are some of the important tips to avoid scams:
First things first. Negative information cannot be erased if the information is correct. Only inaccurate information can be corrected in your credit file. Credit file information remains on your record for seven good years from the time it is reported to the bureau. For bankruptcy, the information remains on your record for ten years. All the consolidated information about your credit bills you fell behind on, but are now paid, will remain on your report for the time period mentioned above.
Do not pay the credit repair company unless their promises are kept. Remember, the law is on your side. Federal law requires credit repair companies to give you a complete detailed explanation of your legal rights, a completely documented written contract, and above all, 3 days to cancel. This applies to all credit repair services including for-profit services, non-profit services, creditors and credit unions.
Be wary about emails you receive. When you hover your mouse over the link in the email, you will know for sure if it is a trusted website or a fraudelent one. If fraudelent, report it to your bank promptly.
You don't need a counselor to correct your mistakes in the credit report. Take charge of it yourself. If you were recently denied credit, you can request a free credit report. Otherwise there is a small charge for it. Some states will allow you a free copy of your credit report once a year. It doesn't cost you anything to dispute or question items in your credit report. Get online or follow instructions from your credit bureau. The three major credit bureaus are Equifax (800- 685-1111), Experian (800-682-7654) and Transunion (800-916-8800). In most cases you will need to contact all the three credit bureaus as the information they have about you may vary.
Remember that you can't create a second credit file. Some of the fraudelent companies will offer to provide the consumers with a different social security number (tax identification number if ssn does not exist) in order to create a new credit file for the consumer. Such a practice is called as "file segregation". File segregation is illegal and does not work.
Whereever possible, add explanation to your credit report to prove your point. If you have legitimate reasons for not paying certain bills on time (switching jobs, illness), or if you refused to pay because of a dispute, send the bureau a statement to be tagged with your credit report. Each lender who pulls your report will be aware why you fell behind on those bills.
Counseling might be a good option. Find a good non profit consumer credit counseling service in your neighbourhood. Get online or open your yellow pages to find one. Seek the guidance of friends and family members. Select a counselor, meet them in person to make sure they are right for you. Ask them on tips and advice on how to build a good credit history. If you are still lagging behind on your payments, credit consolidation firms will be able to set up a payment plan with your creditors. If money is an issue, select a non profit credit counseling service. They will offer their service for free or for a very low cost.
About the author:
"@Copyrights 2005" - Bill A Smith is a credit counselor for Ameri credit management agency. Bill has over 10 years of experience in providing credit consolidation, credit counseling and credit management services to clients.
A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a job. Promises to "fix" your credit are always made by credit consolidation companies, but they are seldom true. Here are some of the important tips to avoid scams:
First things first. Negative information cannot be erased if the information is correct. Only inaccurate information can be corrected in your credit file. Credit file information remains on your record for seven good years from the time it is reported to the bureau. For bankruptcy, the information remains on your record for ten years. All the consolidated information about your credit bills you fell behind on, but are now paid, will remain on your report for the time period mentioned above.
Do not pay the credit repair company unless their promises are kept. Remember, the law is on your side. Federal law requires credit repair companies to give you a complete detailed explanation of your legal rights, a completely documented written contract, and above all, 3 days to cancel. This applies to all credit repair services including for-profit services, non-profit services, creditors and credit unions.
Be wary about emails you receive. When you hover your mouse over the link in the email, you will know for sure if it is a trusted website or a fraudelent one. If fraudelent, report it to your bank promptly.
You don't need a counselor to correct your mistakes in the credit report. Take charge of it yourself. If you were recently denied credit, you can request a free credit report. Otherwise there is a small charge for it. Some states will allow you a free copy of your credit report once a year. It doesn't cost you anything to dispute or question items in your credit report. Get online or follow instructions from your credit bureau. The three major credit bureaus are Equifax (800- 685-1111), Experian (800-682-7654) and Transunion (800-916-8800). In most cases you will need to contact all the three credit bureaus as the information they have about you may vary.
Remember that you can't create a second credit file. Some of the fraudelent companies will offer to provide the consumers with a different social security number (tax identification number if ssn does not exist) in order to create a new credit file for the consumer. Such a practice is called as "file segregation". File segregation is illegal and does not work.
Whereever possible, add explanation to your credit report to prove your point. If you have legitimate reasons for not paying certain bills on time (switching jobs, illness), or if you refused to pay because of a dispute, send the bureau a statement to be tagged with your credit report. Each lender who pulls your report will be aware why you fell behind on those bills.
Counseling might be a good option. Find a good non profit consumer credit counseling service in your neighbourhood. Get online or open your yellow pages to find one. Seek the guidance of friends and family members. Select a counselor, meet them in person to make sure they are right for you. Ask them on tips and advice on how to build a good credit history. If you are still lagging behind on your payments, credit consolidation firms will be able to set up a payment plan with your creditors. If money is an issue, select a non profit credit counseling service. They will offer their service for free or for a very low cost.
About the author:
"@Copyrights 2005" - Bill A Smith is a credit counselor for Ameri credit management agency. Bill has over 10 years of experience in providing credit consolidation, credit counseling and credit management services to clients.
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