Debt Settlement – Carry Out By Yourself

The best solution to fight against debt is self evaluation and introspection. That’s effective because only you how to deal with debts. Analyze your actual financial state and try to make an effective plan for it. That effective plan should contain some rules such as when to spend money, where to spend etc. You should avoid spending money on extra stuff to get a lifetime relief from all debts. Here we are going to tell you some important tips that will be effective to fix all your debt related problems by yourself.

Debt settlement by yourself

Debt settlement is the right choice indeed when you suddenly find your financial condition in a worst state. Bad financial state means the state when you even fail to pay off the least amount of money on your credit cards, bills etc. Debt settlement is much better than filing bankruptcy in such a bad financial situation. Debt settlement will help you to reduce your outstanding debt balance by 40%-60%, guaranteed. Try first to settle those debts that contain higher interest rates. The debt settlement of such debts will give you a big relief. Here is the complete guide to the debt settlement:

1- Calculate the total amount of your debts.

2- Evaluate the type and the age of your all debt accounts.

3- Ask a copy of your credit report from your creditors/credit bureaus and thoroughly evaluate it.

4- Check your credit report and search if you are still have an account with your creditor.

Debt Settlement of the debt with the creditor

Imply these steps to settle your accounts that are still with your creditors.

1: Know the right way to contact your creditor, such as:

- You should know the debt negotiation tips

- You should be ready to make move according to creditor’s mood.

2: Check the creditors’ database to take the address and other useful information about creditors.

3: Check how much you can pay to your creditor before contacting your creditor to decide about your monthly pay offs.

4: Contact your creditor and describe him/her your plan in detail. Convince them how they can take benefit from your plan.

5: Inform your creditors in anticipation that you are mailing your plan to a list of creditors and you will pay the first installment to the first creditor that will contact you first.

6: Keep all the data of the acceptance letters in record and the amounts that are fixed with your creditors. Request a receipt of your amount that you “paid in full”.

7: Repeat the same practice every month and keep on adjusting debt settlement offers.

8: After paying off the large amount of debt, send the offers of paying back high percentages of the outstanding amount to creditors.

9: If you keep on repeating the same practice every month then soon you’ll become debt free.

10: Take your fresh credit reports time to time to keep yourself updated for the status of your accounts.

11: After paying off all the debts, ask your creditors to update the account status on your credit report as “paid as agreed”.

How To Become A Debt Free Person?

Debts and Loans provide you extra money for some time to buy your needed things. It seems very effective in initial but the problem start to appear when the repayment time arrives. If you have made the right repayment plan then it will not disturb you. But mostly people do not think about it and then it becomes a dream of them to live a debt free life.

The nonpayment badly affects your budget and financial position. Your credit rating also suffers. Let me give you some points which can help you to live a debt free life.

Plan Your Expenses

Always try to plan your expenses and reduce them as much as you. Make an outline of your expenses and spend money only when you have. Avoid unnecessary borrowings. Keep your basic necessities only in your mind. If there is any money left with you then think about other desires you have.

Payment Of Your Debts & Bills

Keep your debts or bills unpaid at the month end is a very bad way to manage them. Set your priority level at your bills, cut a definite portion out of your income first for your bills and debts. whether you use credit cards or cash, it does not matter. Just pay them and let yourself in a debt free condition.

Income Growth

Think about the growth of your income level. It is very important to live a happy life that your earning is constantly increasing. You always need money to settle down your expenses and other dues, so consider this points too.

Savings

Another very important aspect to live a debt free life is how much you save ?. When you get your income, channelize it and make a complete plan. Savings must be a healthy part of that plan. It will helpful to get money in any emergency situation.

Rewards

Now feel happy and congratulate yourselves that you are now a debt free person. By overcoming your debts, you can be proud of yourself.

Applying for Payday Loan

If you facing bad financial problems then don’t worry because you are not the only one who is facing such situation. In such a bad financial situation when you are even unable to pay off your monthly bills then applying for personal loans or extra credit cards is not a good idea. Payday loans are the best alternatives of these personal loans etc in such a dab financial situation because payday loans offer fast and efficient way to get money in your account. Payday loans can be obtained from two ways: in-store or online.

In-Store Payday Loan

If you are considering applying for a payday loan in store then follow the steps given below:

Trace the nearest payday lender that lies within or close to your area. Take national photo identity card, blank check, most recent bank statement along with pay stub. Contact your local payday lender and fill up an application for the required account that is according to your desire. The amount of the loan and the interest rates vary from state to state such depends on the state where you live. In most common practice, payday lenders give loan anywhere from $100-$100 on a charge of 15% to 30% (for 2 Weeks loan).

After completing above steps, either your application will be approved or rejected. If you’ll get approved, then you’ll be asked to sign a legal contract with your payday lender. That contract will contain the terms and conditions of the loan that you’ve borrowed along with the date before which you must have to repay the loan. After completing these small formalities your cash will be handed over to you in store on the spot.

Online Payday Loan

If you are considering applying for a payday loan online, then follow the steps given below:

Search for a payday loan provider and select one for you. Make sure that you have selected a BBB secured lender. Fill up an online application that will be provided to you online. Provide your social security number, driving license, bank account number, and bank routing number. Note: Less documentation is required in some state.

After doing above steps, either your application will be approved or rejected. If you’ll get your application approved, then you will be asked to sign a contract on certain terms and conditions. The money that you have borrowed will be credited to your account within 60 minutes.

Do Auto Loans Must Have a Car Insurance Requirement?

Through Auto loans, A facility is available to the person who has the dream of his own car. Auto loan enables the person to buy his desired vehicle at easy cost. However it could create confusion if it is mixed up with car insurance requirement. You should also be cleared about the insurance requirement while searching for auto loan.

Is It Must Added Clause?

First consider the situation that is the car insurance is must for approval of auto loan. Most of the states in America have no such requirement. But lenders require it as an important clause. They want the car insurance before the auto loan approval although its not required by law but required by lenders.

How Much Coverage Needed?

After deciding the insurance factor, you must know that what kind of coverage is needed for your car loan.With out car insurance, Suppose you had an accident and you lost your auto totally. Now you are unwilling to continue your auto loan repayments. So to secure the lender under this kind of circumstances, a liability coverage is needed. Other insurances like comprehensive and collision are not necessary in which you can deflect the costs associated with an accident. So only liability coverage is required in which medical costs and cost of your car is covered.

How To Know Lender`s Requirement ?

If your state has a insurance requirement and fixes up an amount, the lender always wants more coverage than the fixed one. You should also know that the insurance cost varies with the vehicle company and model. Costly vehicles like Sports Cars are expensive to repair after accident. So higher insurance premiums are required. Do some proper research about the lender` s demand of car insurance. Direct meeting or Internet are the possible ways to know about it.

Personal Loans with Bad Credit

It is very difficult to get a personal loan with a bad credit score. But still there are various lenders that are providing bad credit personal loans. If you facing the same situation such as you are finding personal loans with bad credit then you must know certain things. Personal loan is effective in temporarily manner. If you have bad credit then you can take advantage from personal loan to meet your financial needs.

If you have bad credit, then you must repay the loan timely. That’s because late payment will affect your credit score and it will create difficulties for you to obtain loan and finance in future.

If you are considering getting a personal loan and considering applying for it online then following things will be beneficial for you:

1: Always check first the security certificates (SSL) if they are valid or not. Remember that every web page will be provided with a link to the SSL. The page that contains the application for the personal loan will also have the valid security certificates. A VeriSign protected website is highly recommended over all. The plus point of this link is that it shows the ownership of the website.

2: Other links that you must check are the BBB, McAfee/Norton, and few others such as Truste and Thawte.

3: A legal payday loan website will clearly show privacy policy, safety, and security guarantee.

4: If you find anything blurred on any site then call the company and ask about unclear things. A representative of that company will answer your questions to satisfy you. If that company fails to satisfy you then it means it is a fraud or scam.

New Student Loan Bill By Obama Government

A few days ago, President Obama administration introduced a new loans bill for students. The students ,who are in deep financial troubles, can now get a sigh of relief. Now government will give them all the educational assistance, in terms of finance, which will help them to get all possible higher studies.

Now the student have no need to go towards banks which charge interest rates like cutting throat method. The US students were in hard times when they have to pay high educational expenses and other dues. They have to approach private student loan. They would be in deep debts problems from the graduation stage and it goes a long way.

Due to the new loan bill, the Pell Grants will increase which is now helping more than 8 million students. A number advantages are now available to students, namely :

Banks and Other Middlemen :

The enormous interest costs and huge service costs had burdened the students financially and they have to live a debt filled life after leaving college. Students had no other options. But now with new student bill, there is no need of any middleman like banks or other institutes.

Minorities :

The new bill will greatly help the minorities because the new bill has the plan that $2.56 billion will spend on the minorities schools.

Total Education Grants :

According to the new bill, students have no need to worry about future repayment life. This bill increase the Pell Grants and more students can get education aid now.

Long Term Investment :

President Obama aims that to save about $68 billion over the next ten years through this new student bill. The new bill will not only help the deserved and poor students to help them in better education. But it will also improve the overall quality of American universities. which will attract more and more foreign students to US.

How To Become A Rich And Wealthy Person ?

Today, here is a race of money. Every one is doing business, give something and take something situation. Human normally finds attraction toward shortcut methods. But they are not based on strong pillars and they will drop down quickly.

Let me do the honor to present you some statistic and proper strategies which surely give you wealth for long term. although they are quite simple and demand patience, but will work.

1. Analysis your wealth position

• Wealth has a different meaning than what it appears normally. Its not only consist of income.
• Many high earning families have nothing as their wealth and some less earner have more than those families. Income difference just represents the 6% of wealth graph.
• Other medical expenses, family household expenses , any marital costs and number of children represents approximately 4% of your total wealth.
• Your investments have the 8% of your wealth property.

Its quite clear from the above analysis that wealth is not only means how much income you earn?, how much investments you do? or how many chances events like marital, or medical bills you have to pay?

2. Savings

The most important point to become a rich person is that how much you save? The ability to save your income makes you a wealthy person.

You `ll surely get your desired results if you set you priority level at saving. No matter how much you earn? or how much other circumstances or choice of investments you have?

3. Investment

When you accept the saving habit then go to the next step. To invest your savings at the right place regularly. You should prefer solid investment like index funds which returns a lot.

4. Time

Always think in long term. The time power and other corresponding will work in your way. Let them do their task.

What Happens If I Don’t Pay My Credit Card?

It’s often seen that one or another is indulging in credit card debt due to extra purchase beyond their buying capacity. This most of the time put a man in financial problems and he keeps on thinking about “Why should I pay my credit card bills? One can neglect credit card bill payments but some how or the other he must have to pay the credit cards bills. Here are some consequences of not paying your monthly credit card bill on time.

Hi, Pay Your Credit Card Bill!

One of the most annoying and disturbing thing after not paying your credit card bills is incoming of some frequent calls from your creditors. They try to reach you by calling at your cell phone, home phone or at you office phone and ask you to pay back their money. They often by pass the law by contacting you relatives, neighbors or to some of you colleagues. This act is illegal as all your rights are protected by the Federal Trade Commission. They try to abuse you on phone if you reluctant to pay the credit card bills. They use each an every mean to get back their money. They also try to get your other account info that also an illegal act.

Credit Score in Danger

Once you refuse to pay the credit card bill, creditor report your non payment of credit card bill to credit bureaus. They list your non payment in to your credit report and it also put a bad impact on your credit score. But you can restore your credit score again if you pay the credit card bill or settle the amount in future.

Double Trouble, High Interest Rate

An unpaid credit card bill does not mean that your payable amount remain stable at one point. It keeps on increasing due to its interest rate. Most of the credit card lenders impose high interest rate if once you refuse to pay the bill on time. This high interest rate can be up to 30%. It doesn’t stop here as you have to pay the late payment penalty that may also cost you nearly $50.

Creditor Can Take You To Court.

If you still not in mood to pay the credit card bills, credit card lender may take you to some court. A court then can punish you or ask you to pay the amount by any means. Although legal process is not so easy to pursue and most of the creditors avoid this option but remain prepare for this action also.

What You Should Choose? Debt Settlement Or Debt Consolidation

There are number of ways to reduce your debt burdens. Some are very useful without side effects but some have their own issues. Debt settlement and Debt Consolidation both can relief you from your debts headache. which is the best one? the decision is up to you.

Here only I can highlight The Pros and The Cons of both of them. The Choice and Final decision is always yours.

Debt Settlement

Pros :

Settlement deals with immediate removal of a portion of your total debts by your creditors. Then you can easily manage your remaining part of loans over your budget.

Through debt settlement, you can see that your credit score is improving gradually. The relief from high repayments produces good effect on your credit ratings. Now you have more money to settle down your outstanding bills and debts which surely help you in improving credit score.

Cons :

The Debt settlement is seem to be just like Foreclosure. It means your credit rating will be on or below the threshold of 500 points. although you will improve it gradually but it takes round about 2 years and in the mean time you have to work with Sub-Prime lenders.

Debt settlement also effects your tax consequences. According to IRS, you have to pay some extra state taxes.

Debt Consolidation

Pros :

With the help of consolidation, you can now repaying your debts at a lower interest rate than before. After choosing this solution, you have to pay less monthly loan repayments. which gives you more money to spare.

You can be out of your debts in less time frame than before. Debt Consolidation deals with some paperwork, cancellation fees and other accounts closure.

Cons :

Consolidation affects the credit score up to some extent. Lenders temporarily hold the credit extension until you will be regular in your repayments. In the same time, you have to present your accounts for inspection that your debt consolidation company dealing rightly.

Conclusion With Right Decision

None of them is a perfect solution of your debts. Each one has its own points and disadvantages. Debt settlement gives you instance relief but it is against your credit rating interest. On the other hand, Debt Consolidation gives sigh of relief at credit rating point but its a time taking process. So you have to pick the right option which suits you best.

What Are Federal Stafford Loans?

Stafford loans are offered to the graduate and undergraduate students. Those students who have attended the college for half time are eligible to apply for Stafford loans. Stafford loans are funded by US federal government and provide a great opportunity to the US nationals to finance their educational cost. These Stafford loan are available on fixed interest rate.

Stafford loans are available on very low interest rate as it is funded by US federal government. Stafford loan for undergraduate students are available on 5.6% interest rate. There are two types of Stafford loan, subsidized and unsubsidized. Government pays the interest rate for the students that come under the subsidized loan.

Who Can Apply For Federal Stafford Loans?

A foreigner student is not eligible for the Stafford loans but those US national which are enrolled or studying in some other country college or institute can apply for Stafford loans and even can take private loans to fulfill their need.

A US student can apply for Stafford loan by filling out the Free Application for Federal Student Aid (FAFSA) form. FAFSA will review your application in collaboration with your school or college. They analyze student’s results. After taking necessary information FAFSA will send you an “Award Letter” to the concerning student saying about you loan approval. After this you can apply for the Federal Stafford loan. A student can apply for loan by submitting there application at www.FafsaOnline.com.

10 Factors to Be Avoided To Protect Your Credit

It is easy to protect your credit from any harm than to repair it. If you avoid those things that can hurt and damage your credit badly then you won’t have to struggle to repair your damaged credit. You can save you from bad credit headache and trouble by avoiding following bad things.

1- Avoid late payments

Try to avoid paying off your payments late. Paying your payments late can hurt your credit badly and leaves a black spot on your credit history. Remember that credit report contains all your payment details that can be beneficial or unbeneficial for you so try to avoid late payments.

2- Limit Your Credit

This is the second factor that can affect your credit score badly. To avoid this thing, try to keep your balances below 30% of your actual credit limit. This is because if your credit card balances becomes close to your credit limit then it can make a drop in your credit score.

3- Avoid too many applications

Try to avoid filing too many applications for credit card and loan. Large number of applications affects your credit score and lead to the drop in your credit score.

4- Don’t close credit card with balance

If you have a credit account that contains balance and you close it then even after closing of that account, the balance of that account is reported to the credit bureaus.

5- Don’t skip your rents

It is very critical factor because if your landlord is not reacting after you skipped your rent then it doesn’t mean your landlord is kind to you. Your landlord can report this to the credit bureau anytime. Try to pay your rent on time and don’t skip it.

6- Don’t avoid paying medical bills

Pay your medical bills on time because if you don’t pay your medical bills then it can affect your credit score badly. Skipping your medical bills can cost you a black mark on your credit report.

7- Use your credit card

If you are new user of credit card means you have lower credit score. You can overcome this problem by using your credit card smartly.

8- Avoid closing old credit cards

If you have old credit cards and you close them then this can affect your credit score badly. This is because your old credit card contains a place in your credit history. If you don’t want to damage your credit history then keep old credit cards open and use them infrequently.

9- Avoid paying less than minimum

If you pay on time but pay off less than the minimum payments then it affects your credit score and it is equal to late payment. Not only equal to late payment but also counts as a late payment. You can fix this problem if you are even unable to pay the minimum payment. Just call your creditor and ask him to make some other arrangements in this regard and try to fix it up before the due date.

10- Avoid bankruptcy

Either avoid bankruptcy or if it is inevitable then make sure you are unable to pay the credit cards by all means. Filing for bankruptcy damages your credit score badly and leaves a black spot for next several years.

Making a wise decision about your credit card is important. Try to avoid all above mentioned things to protect credit score from any damage.

Top 5 Common Questions About Bankruptcy

Bankruptcy Law is a great deal for those persons who are under their debt weight. It would be the last resort for person who is searching for a new start. Before filing a case, You must be aware of all possible information about bankruptcy law. So that you can finalize a positive decision. For your help, here are the 5 most important and common questions with suitable possible answers.

1. Will creditors stop annoying and teasing me?

After Bankruptcy, Your creditors want their money back and they keep trying to get the amount by writing letters and making phone calls. According to Law, after filing the case under bankruptcy chapter, your creditor can not take \ny further action for recovery. They are forced to be restricted by the law.

2. Who has the Information?

The most teasing question about bankruptcy is this one. Who will know? Every one can approach to your Bankruptcy records. Even your local Credit Bureaus are recording your credit reports. Depending upon your case nature, they `ll keep this information with them for about 7-8 years.

3. Will bankruptcy Affect My Spouse ?

Unless your husband or wife does not involve himself/herself in the matter, He/ She is safe. Your bankruptcy can not affect your spouse in any way. But in community properties, your spouse can be liable with you although your spouse did not even sign any document.

4. How Much It Costs To You?

Normally Chapter 7 (Liquidation) filing costs $300. In addition to this, the attorney`s fee and some other expense costs about $1000 to $1800. Although consultation can be provided you as free of cost. But you have organize your all costs at reasonable level.

5. Will I Get My Credit Again?

Why Not?. A little hard to do but you will get it. Some lending institutes and banks are there to offer a secured loan which require only a small amount as a guarantee of payment. But the fact is that you can be at your worst credit rating than ever after a bankruptcy case.

Understanding The Fast Military Loans

Fast military loans are available to all those personals that are serving or have served in US forces. A person from any force including air force, army, navy, marines or national guards can apply for fast military loans. This loan can be utilized upon one’s own choice.

Military loan are very convenient in getting quickly. You can use them in any emergency. Military loan are, mostly, available on low interest rate as compared to the conventional personal loans. An army person can avail fast military loan by applying online. Most of the time application is approved quickly.

Fast military loan cannot provide you a handsome amount. A person can borrow very small amount from fast military loans that’s maximum limit is $3,000. Although this amount can help you a great deal while you go for shopping, paying utility bills or financing some down payments for autos or houses.

A fast military loan even can benefits you in consolidating your debt but you must keep in mind that it only provide you small amount. But if your debt is small then you can avail a quick military loan to consolidate it.

Getting the Military Loan

You can get a military loan by applying online. You can search for online loan lending companies. Once you fill out the form with necessary details you can get the loan in quick way. Either the loan lending company sends you the loan via check or transfers it in your bank account on the same day of application or on next day. Once you got your military loan you can spend it according to you need.

When To Pay Back Quick Military Loan?

Usually a quick military loans repayment time is twelve month (a year). You can pay back the loan through different methods. You can also pay back you borrowed loan through your pay check. Most of the loan lending companies prefers this method. As you can send payment directly to the loan lending companies by authorizing your employer or bank to send the loan repayment. You can set yourself free from each month loan repayment tension by using this method. One great aspect of this method it that you loan repayment will be always on time. So you can never be charged for late fee.

You also can pay the loan early. As there is no penalty for paying the loan early as some other loans require so. Now it’s up to you how you can manage to pay and how quickly you want to pay.

What is APR, APY & Interest?

APR, APY, and Interest, being the part of banking and finance industry plays very important role. Consumers should know about these terms because if consumers are unaware of them then these terms affect badly. To save oneself from any fraud or mishandling of funds, consumer should completely understand how much amount they are paying to their creditors on the borrowed funds. The complete knowledge and understanding of industry terms will beneficial for the consumer and it will help the consumer to carefully handle the funds and make wise decisions. An old adage sits best for financial problems as well is “knowledge is power”. Following are the details of APR, APY, and interest that are charged on the average consumer.

Interest

Interest is the amount that a borrower has to pay on payments when money is borrowed by loan or through a credit card. Interest increases the total amount that is owed by the borrower over a certain period of time. Interest rates are set by lenders and it is the some percentage of the actual amount that the borrowers borrows from the lender and agreed to pay. Interest is also the amount of money that we get on our savings, shares, or any other financial funds. If we keep our money in a saving account then the financial institution that is holding our money invest our funds in certain business and give us some amount of the revenue that is generated from the investment of our funds.

Annual Percentage Rate (APR)

APR or annual percentage rate plays important role while taking a credit card or any other type of financing. APR can directly affect the amount of money that you have in your account or that you spend from your account. APR is actually the amount that your have to pay annually in the form of interest. Credit comes with certain charges that you must have to pay off on time; otherwise you have to pay certain penalty on late payments. These charges can lead you to pay more than that amount you were initially owed. APR may vary also like interest rates and to deal with it search the market carefully and select the lowest APR to make wise financial decisions.

APY

APY is an important financial tool that determines how much earnings can be generated from the deposit. A consumer can compare the investments by this standard method. APY is actually the amount that you will get on the deposit yearly. Always search for the financial institution that will give you high APY because you will earn it. It is beneficial because it is yours earning over other earnings and called as compounding. It is the original amount that you collect in interest on your money deposits.

Top 7 Causes If Your Family Loans Go Down

Loans and Borrowings are a common part of every person`s life. Need comes to you without notice, so it not a bad thing to owe any loan. But If you are considering about a family loan application then you must do a thorough study about it. A number of important points are there to think upon.

Let me give you some 7 key factors which mostly become the reason of family loans downfall. I suggest you that you must be aware of them.

1. Communication

Just think before applying for a family loan that why you need this loan? think about your ability to repay this debt. Do you have enough strategies and confidence that you are investing at right place. You should consider them first.

2. Documentation

Whether you are a lender or borrower, in the money matter you must be clear in every single point. Each possible clause and terms & conditions should be with you in black and white. and You must discuss every minor issue about loan deed before signing the documents.

3. Securing the Loan

To secure your loan is a very good idea. the concept of securing the loan is important because if borrower dies before loan repayment. Then the lender can not recover his amount unless the loan is secured by some means. Lender and Borrower should consider the risk and should secure the loans.

4. Tax Laws

To avoid any legal problems, loans should be according to tax laws and you must consult your tax law advisor or attorney. Because as a borrower , you want to deduct the interest cost paid on loan against your total tax liability. If you are lender then you have to show the interest earn on the loan in your wealth statement.

5. Other Specific Laws

Your loan agreement should also follow the other relevant local laws. You should discuss them with any law advisor. Laws like foreclosure of the home or property, debt collection legal process and many more.

6. Minimization of Risk

The risk factor is the most painful and important part of any debt agreement. You should try to minimize the risk factor as much as possible. whether you are borrower or a lender. definitely loan brings the financial future of both lender and borrower at risk. Consider this factor too.

7. The Alternatives

Last but not the least, Alternative should always be in your mind. You should always have a solution if something goes against your expectation. If bank does not give you loan, you must have many other resources to get them.

I hope these little points will help you a lot if you are going to contract a family loan. whatever your position is as a borrower or as a lender.

How To Choose A Credit Card?

Many credit cards are available these days, one has to choose a credit card according to his or her need. Credit card varies in features and offer different packages like no annual fee credit card, reward or rebate packages, low APR credit cards, gold and platinum card and so many others are in list. It becomes difficult when it come to choose one best for you out of so many choices. Here are some tips to find out best credit card offer.

1.) Applicant’s Credit History

Credit history plays an important role in getting a suitable credit card offer. If you have good credit history, you may be asked to choose as you required. But if you are not good in credit or have no credit or your credit history is poor than be careful in selecting one.

• Good to Excellent Credit

A good or excellent credit history means you can get the Platinum or Titanium card. Having these cards mean you can avail more benefits like lower APR and higher credit limit. Those whose credit is regarded as good can avail Classic or Gold credit card.

• Poor Credit or No Credit

A poor and no credit status can also be offered for a credit card but these cards will be available on higher interest rate and with some extra charges if we compare them with other standard credit card that are available in market. Two types of card are available for such people.

• • Secured Cards

These credit cards are available on some security deposit. It ranges from $150 to $350. You can only have credit limit up to the amount you have deposited.

• • Unsecured Cards

These credit cards don’t require any security deposit. These are mostly awarded to the people with good or excellent credit.

• • Prepaid debit cards

Those who have bad or no credit can avail prepaid debit cards. They don’t need any security deposit instead you can utilize them by paying for them in advance. They can be utilized same as other credit cards. These prepaid do not help you in building your credit history.

2.) How Much You Want to Spend?

When deciding for a credit card, first analyze your way of use. It mean how much you want to use your card or what things you want to purchase. Also consider how you pay off the credit card, either you want to pay off at the end of the month or want to carry the balance.

You should consider 0% APR credit card or low interest credit card if you want to carry your balance. You can save a lot of money by choosing low interest rate card.

If you want to pay you credit card bill at end of each month and want to use it more frequently than reward credit cards are the best option for you. Although reward credit cards are available on high interest rate. You can avoid this higher interest rate by paying the credit card bill on time. This not only save your money but also provide you some extra bonuses on purchases.

3.) Special Package For Special Need

Many financial institutes designs specific cards or offer feature keeping in mind there customers. It mean if you go for shopping to a specific mall or brand your credit card issuer may award you special incentive for using their credit card. These cards are mostly offered to frequent travelers, businessmen and to the individual who shop more frequently.

Student Debt Loan Settlements

Debt Settlement programs are helpful for you to reduce the hardship of all your financial difficulties. Student Loans can also be settled down by negotiation. Every one ,who acquires any education loan, intends to repay loans. But sometimes after the end of study period, we find the debt amount different than we bargained for.

Then student debt settlements programs can help you. Thru these programs you can get more money for paying your educational obligations.

Unsecured Debt

College loan is considered to be an unsecured debt. Although Federal student loans are also the unsecured one, but they are almost impossible to settle. As a student, you definitely want to get big college degrees. And many people owe thousands of dollars for their study completion.

When amount of loans goes beyond the capacity. Then naturally, these people seek for student loan debt resolution settlements. There are also many persons who started their course after getting loans but did not come to a fare well. These people also want debt resolution settlement.

Student loan debt resolution settlements are not made for persons to default on debts.If a student can pay his obligations thru reliable resource. Then he should do the same. the best way to tackle with your student loans is to consolidate them or refinance it thru any company.

Student Loan Debt Settlement Companies

Debt Settlement Agencies mostly have the experience of working with credit cards companies. They have well knowledge of dealing with such loan matters. So you should consult them and negotiate with them. Make sure that all the points are clear on both sides. You must know what you are signing and whether they are really willing to settle your loan. Many companies are also there which offer student loan forgiveness plans. Consider them too.

Which Credit Card is Best For You?

There is a wide variety of credit cards that can be used for various purposes. All these credit cards are different from each other. Now you have to choose which one is better for you. If you are considering getting a new credit card then check all the available ones and compare their features. Evaluate all the available credit cards and select the best for you according to your needs.

Credit Card Type

There are various types of credit cards. It depends on you what type you choose to apply for and how you work with it. You can choose any standard credit card that will be compatible for your all expenses. If you want to get premium cards then you must have a higher credit score because these cards offer great benefits such as cash back rewards, higher credit limits, travel incentives etc. There is another type of credit card that are the limited purpose credit cards and these cards can only be used in certain places.

Interest Rates on Credit Cards

Interest rates on credit cards affect the amount of monthly payment for your balance. If you pay off full payment every month then the low interest rates will not be important. While, if you don’t pay off the monthly payment for your balance then find a credit card with lower interest rate. This option will charge you lower cost for finance charges that are applied to the balance in your account.

Free for Credit Card

Before applying for credit card, carefully search the market to know about the applicable fees and charges and the situations in which those fees will be activated. Some creditors only charge you when you don’t pay your payments on time. While various credit cards charge annual fee for owning the card. Almost all the premium cards charge yearly fee.

Credit Charge Limit

This limit is defined as the maximum amount of credit that is allowed to add up in your credit card with no penalty. You purchasing plans determine the credit limit on your card. Various credit card users use their cards for traveling or to meet their business expenses and they required a high card limit. On the other hand, if you use your credit card for small purchases or shopping then you don’t need higher credit limit on your card. You good credit history is directly proportional to the credit limit such as good credit history will increase your high credit limit.

Credit Card Rewards

Various credit cards give you rewards in certain conditions. These rewards might be the cash back, points that can be redeemed, or travel incentives. If you consider these kinds of cards then check the expiration on the rewards or limits if there are any. While considering getting such cards also consider your spending habits. If you don’t use your cards frequently then you will not get any incentives, in this case your rewards card is ineffectual for you.

How to opt out the best suited credit card for you?

Before selecting the credit card for you, thoroughly search the market and features of the available credit cards including type of credit card, credit limit, fee, interest rate, and incentives. Properly check all the details and analyze each option according to your needs. Simply opt out the best suited card for you.

Why To Choose Student Loan Consolidation?

Choosing a student loan consolidation plan is a big option for any student. There may be different reason behind choosing student loan debt consolidation. One of the biggest reasons to choose this option is repayment of multiple loans. Student often borrow more than one loan to fulfill their study expenses. Student loan consolidation provides them the ease of paying all debts in one installment per month besides paying one by one.

Pay All Student Loans in One Monthly Payment.

A student can borrow more than one loan during his or her studies. Some how or the other they may feel in problem in loan repayments. Here loan consolidation help them a lot to make easy for them by combining all loan repayments in single monthly repayment on easy terms. Now a student has to care for only one monthly installment.

Benefits of Students Loan Consolidations

It’s a good decision to choose the student loan consolidation plan because it will give a student peace of mind. Besides struggling for multiple loan and there repayment date, he can manage all in one by considering student loan consolidation.

Here are some benefits of Students Loans Consolidations:

Single Monthly Payment

You do not need to remember all the dates of loan repayments by choosing student loan consolidation. You all loans monthly repayment will be consolidated into one monthly installment to make you hassle free. Now college loans are not more disturbing for you.

Change In Interest Rate Benefits You.

You can save some money on interest rate by consolidating all your loans. An average of all loan’s interest rate is calculated for consolidating all your loans. There are some special rules for charging interest rate to the students who opt for student loan consolidation plan. In this way you can get some benefits from change in interest rate. One great benefits of loan consolidating is its fixed rate interest rate. Once the loan is consolidated its interest rate is put to fixed rate for life time.

Tax Relief From Student Loan Consolidation.

Interest you pay on consolidated loan is tax deductible. You can take it back and save money on taxes as well. The paid interest rate on consolidated loans is used for education loans.

Tips to Improve Credit Score

Credit Score plays very important role in your financial profile. Credit Score consists of three digits and these three digits are the defining numbers in your financial profile. Your credit score is considered by creditors and lenders to make defining decisions about you. If you have high credit score then it means you had always been capable of dealing with your financial responsibilities. If you have bad credit score then following tips will work for you in a better way, make the most of these tips.

Correct Errors in Your Credit Report

If you have any errors in your credit score then they will exert bad impression on your credit score. Good or bad errors are errors so try to take a copy of your credit report and review it at least 2 times. If any errors are found in your credit report then correct these errors to prevent your credit score from any hurt.

Pay Off All The Dues

If you have accounts that are due to pay off and exceeded from the payment limits then try to pay off these due accounts. Paying off all the due accounts is important it makes up 35% of your credit score. If you have any unpaid due debts then they will remain on your credit report as a black dot. If you have any collections and charge offs etc then keep them up to date to improve your credit score. Pay all the most recent and current delinquencies to make a positive impression of your credit score in your credit report.

Pay Off Bills Timely

Don’t delay the payments of your bills because the timely payment will improve your credit score. Check your due dates properly and try to pay all your bills on time. For this purpose you can also use auto-pay option. This option will not only ensure the on time payments to your creditors but also save your time and payment headaches.

Maintain Your Level of Debt

The correct level of your debt is 30% that you should maintain at any cost to improve your credit score. Your credit card balances are inversely proportional to your credit limit i.e., increase in credit card balances will lower the credit limit. To have the best credit score the resulting balance should be lower than 30% after dividing credit balances and utilization by the credit limit. If you have high credit card balances then try to level them by paying.

Don’t Close Credit Cards

Try to keep your credit cards open because the closing of these credit cards will make a bad impression on your credit score. The credit card history that is counted in your credit score is 15%. By closing your credit cards you are lowering your credit score. So don’t close your credit cards that contain balances because closing will decrease your credit score and increase your utilizations.

Keep Activated Only Useful Accounts

The accounts are counted for about 10% of your credit score. The account inquiries last for two years on your credit report but only past year’s inquiries will be counted.

Limit Credit Recharge

This step will help you to maintain your good credit score in terms of level of debt and credit inquiries. If you high balance then it will tempt you to spend more and ultimately hurt your credit score. So don’t recharge your balance frequently to keep it in a good range.

I hope that you will find these tips beneficial to improve your credit score. These tips will work in two ways such as to improve your credit score and to maintain good credit score.

How A Stupid Idea Made Million Dollars?

Everyone has the desire to earn handsome money to enjoy the fun of life. God gave brain to every human being. But the great thing is to use it in a perfect way. Not every person gets the real ideas of life. But Who succeeds in this search, wins the jackpot.

Sometimes apparently stupid ideas can make Million Dollars for you. Don`t believe it? Then you must see the following list. People made themselves a successful person with their Ideas.

FitDeck

nvented by Phil Black, Its an exercise Playing Cards institute. which makes exercise more interesting and simple for you. FitDeck is quite interesting phenomenon in which you have different 56 playing cards. Each one contains different exercising instructions to perform. This “no-equipment” exercise requires only your bodyweight to perform.

You can to choose any FitDeck title like Bodyweight, Senior, junior, Yoga, Pilates, Stretch, Prenatal or Postnatal. An enjoy the liberty to workout whenever you desire.

Million Dollar Homepage

Let start creating pages which have million pixel images. And then sell your each pixel for 1$ price. You can earn $1,000,000. Alex Tew was the presenter of this stupid idea. initially people took it as a prank. But he worked on his idea and now each and every pixel of him is been sold. He made it as a brand name.

positivesdating.com

Its also a unique idea to get your desired date at full satisfaction and safety. Here on this website, you can find your perfect date by submitting just a 3-step form. You can also chat with your loved one to clarify all your questions and doubts. Its totally free.

diapeesandwipees.com

diapees & wipees was created by a Mom. She was tired of using Folded up diapers and digging out of diaper bag. Then she started using plastic freezer bag for the baby diapers for more safety and It worked, So she started diapees & wipees because she knew that many other Moms also need this type of organization.

Doggles: Goggle for Dogs

It also seems to be a stupid idea. But Doogle has the most number of franchises in all over the world. the idea really works and now it world`s best eyewear just for your dogs.

PickyDomains.com

If you are going to start your own site and worried about the name selection. Then PickyDomain can really help you. Here you can choose the exact domain name which will rightly describe your website. The PickyDomain also have strong partners like Godaddy.com, Logoworks and LogoYes.

Fundamentals of Personal Loan

Try to understand personal loan before applying for it. Personal loans are helpful to supplement money in your account if you are facing shortage of funds. However, personal loan is not recommended always because it is an unsecured loan. Before applying for personal loan try to understand it completely.

Attributes of Personal Loan

Personal loan is an unsecured loan means you can’t use any property such as home for the collateral. This is the basic difference between personal loan and other kinds of loans. Other attributes of personal loan are as follows:

High interest rates: Personal loan offers higher interest rates than that of other types of loans such as mortgage or home equity because it is an unsecured type of loan. But still, personal loan interest rates are lower than that of credit card interest rates.

Fixed Term: Personal loan contains fixed term interest rates in certain cases such as if they can be due at the end of the determined term.

Revolving Line of Credit: Personal offers revolving line of credit same as credit card. In this case the interest rates on personal loan are variable.

No Tax Benefits: Personal loan interest is not tax deductible.

Pros and Cons of Personal Loan

Here are the pros and cons of personal loan that you should know before applying for it.

Pros

• Personal loan is the best available choice if you are in great need of funds and don’t have enough equity in your home or you don’t own your personal home.
• Personal loan offers fixed interest rates in certain cases.
• Personal loan offers lower interest rates than credit cards.

Cons

• The interest on personal loan is not tax deductible.
• The interest rates can be as high as 10% or more. While the interest rates for home equity loans or mortgage are approximately 6%.
• Due to high interest rates you are required to pay more money than that of home equity loan or mortgage.

Still, personal loan is the best available choice for those who are facing shortage of funds and don’t have their own home.

Top Ways To Avoid The Bankruptcy

Bankruptcy can always be a dangerous word for those who are indebted of anyone. When you get loans more than your repayment capacity. Then Many actions can be taken against you. One of them is the Bankruptcy charge. After the allegation of being bankrupt, you will not able to acquire further debts and borrowings.

Bankruptcy creates problems almost in your every financial matter. whether it is for opening bank account, or new job opportunity, or education purpose. In short words, Bankruptcy leaves a black dot on your credit history. Here are some very simple measurements that you should take to avoid bankruptcy.

Cut Cost Method

You should cut down your all unnecessary expenses and costs. find the middle way while shopping. Align your budget and do all things according to the budget. Although you have big plans to purchase all the needs of your life like house, vehicle, good education. And you are ready to buy them by taking loans. But it creates extra burden on your financial conditions.

Mortgage

Next thing to do is find an expert for an advise if you really want some house mortgage. The consulting agencies ,many companies, banks and other private institutes are there to help you. Debt settlement is also another precautionary measure to save yourself from bankruptcy.

Debt Consolidation

Another valuable solution is Debt Consolidation. By merging your all debts, you can prevent your credit score from going in really bad way. Repayment of loans to different creditors enhance the chances of being bankrupt. With the help of consolidation, you can be in risk free zone up to some extent.

Other

Many other simple but little painful solutions are also available to avoid bankruptcy. You can sell your precious households assets. A little wise and right planning and decisions can be very helpful in avoiding bankruptcy.

Banks Feeling Loss Over Limiting Debt Card Fee

Retailers have many time requested Congress to limit the charges they have to pay to banks when a customer use his debt or credit card. But this request has never taken serious by the congress and even the Senate has not approved it for hearing.
But now after a long time of pleading, sixty four senators including seventeen Republican decided to implement price control on such transaction from debt or credit card.

This amendment in financial act will save billion of dollars of consumers those who regularly use there credit or debt card to pay there bills or purchase. People mostly do transactions in buying thing from Wal-Mart, paying bills at family restaurants, doing online purchasing through Amazon.com and many other things to which a credit or debt card payment is best.

People also could save money, especially at small business like grocery shops that have great competition on prices. But according to financial experts limiting the charge fee will produce loss for banks and banks may restrict there card to consumers.

Changes in financial legislation are not favorable to banking market but this recent amendment has given a surprise. This may prove to be hazardous for banks.

Financial institutes has shown their great concern over it and are thinking to give less importance to the future campaign of those senators who have participated in this amendment.

Bankruptcy – Is It Good For You?

Filing for bankruptcy means that you can’t pay off your debts at all. There are two possible ways that will provide you relief. Either the bankruptcy court will remove all your obligations to repay those debts that you are unable to pay (chapter 7) or chapter 13 which involves a 3-5 year plan during which you being the debtor must repay the debt.

Bankruptcy leaves long last effects on your credit reports. It also leaves a negative impression on your ability to receive credit cards and get loans in future. Bankruptcy lasts for next 7 years as a black dot on your credit report. You must not file for bankruptcy unless you encountered with serious bad credit conditions. You can go for other options instead of bankruptcy if you have current accounts.

Substitutes for Bankruptcy

You can ask your creditor to give you amnesties and leniency on certain terms to repay the debt. You can negotiate the repayment terms with your creditor and discus your bad financial condition with him. After sharing your bad financial conditions with your creditor ask him to reduce the higher interest rates and payments. Contact all your creditors and try to convince them on your bad financial circumstances. Don’t be disappointed if they don’t agree on your terms and try to search for other creditor that is interested in working with you.

You can also negotiate with your lender and ask him to give some relief on payments for a certain time period. This step will shrink your monthly payments and you will be able to reach your financial obligations.

Search for consumer credit counseling if you fail to get relief on your payments from creditors. This counseling will help you to work with creditors. Credit counselor will guide you how to get relief from bad financial condition to meet financial obligations.

You can also sell out your valuable assets (if have any) to pay off the debts. Not only that but also you can sell certain valuable items to collect money for pay off. If you have saved some money in past then you can also use it to pay off your debts.

Benefits of Bankruptcy

Bankruptcy will save your money from garnishment. Bankruptcy will also save you from the questioning and judgment from the creditors. You can file bankruptcy to protect yourself from legal notice from creditors. You can also contact your attorney to take guidance about the benefits of bankruptcy.

Many people deliberately file bankruptcy to overcome their large medical bills. People who have medical insurance also prefer bankruptcy sometimes when insurance doesn’t work to reduce large medical bills.

Consult Legal counselor Before Filing Bankruptcy

You must consult to legal counsel to get the complete information about bankruptcy before filing for it. Consult with lonely licensed bankruptcy attorney to get reliable and right information. Consult with legal counsel to take guidance to deal with all debt related issues before filing for bankruptcy.

What To Remember While Searching For An Auto Loan?

Every common person tries to get all the luxuries of life. Some of them succeed and some not. It depends upon availability of enough financial resources. The best thing is to get right loan if you don`t have resources. To have your own conveyance facility is also a dream of every one. And you can get it easily now by taking auto loans.

But Some problems can be there. Many companies and agents are there who can misguide you. So for your relief, here I present you some basic and important points to remember when going for auto loans.

Credit Score

Your credit rating must be at acceptable level when applying for a auto loan. Bad credit does not show that you are bad, But it make some problems in your loan approval. So first make it sure that you have good credit score. There are also many companies which can offer car financing at your bad credit.

If you have bad credit history then I suggest you to improve it first. It can be done easily by repaying your previous pending bills and other non-paid debts. You should try to avoid the penalties at first priority. It will definitely help you for any future borrowings and loans.

Research

There are hundreds of companies who can offer you loans at different interest rates. To find a right one, internet is the best place. Many sites are there to help you. Collect reliable data from those sites and select the right lending company. Choose the company which offers best discount plans.

Comparison

Like others, you also want a fast auto loan approval. For this purpose, you have to first study the whole market. Find out more information about auto loan companies. Compare different quotations, consider your total plans, what you really want and your repayment plans.

Meetings

You have all rights to ask every question that you have in your mind. You should do some meetings with the selected company or any agent. Before finalizing the loan deal, You must be clear about every single point involved in loan. In this way you can make best use of the loan.

How to Lower the Credit Card Interest Rates?

Credit card interest rates are the price that you pay for your credit card balance. These interest rates are shown as APR (annual percentage rate). The credit card issuer gives you a grace period after your credit card purchase to pay off the full balance without getting interest charges.

The grace period consists of 20-30 days normally. If you fail to pay off the balance before the end of the grace period then you’ll get a finance charge on it. This finance charge is calculated by multiplying the interest rate with your balance. The resulting amount that is called the finance charge is added to your main balance and then you have to pay it. Interest rate and finance charge are directly proportional to each other such if you have high interest rates on your credit card balance then the finance charge will be higher too.

Reasons That Increase Credit Card Interest Rate

Your credit card interest can increase anytime even if you start with lower interest rates then there is no guarantee when it increases. There are several reasons that cause increase in credit card interest rates are: if you pay your payment late or after the determined limit then this will lead you to higher interest rates. Your creditor will increase the interest rates by applying the default interest rate on your balance. This nasty plenty can charge you more than 28%. Besides this various credit card agreements contain a universal default clause according to which your creditor can increase the interest at any time. The reason for this sudden increase in credit card interest could be any.

Your creditor informs you about the increase in interest rate before 15 days of this implementation. In this case you have two options, either you close your credit card or continue to pay the balance at lower interest rates. If you choose the second option then inform your creditor in black white before the end of the 15 days.

Credit cards such as department store or gas credit card scores contain higher interest rates. It is wise to pay off balances on such cards to avoid high finance charges. If you want to keep you credit card interest rates low then maintain a good credit score. This is because credit score is inversely proportional to the interest rates such as higher credit score will lead to lower credit card interest rates.

How to Get Lower Interest Rates?

To get lower interest rates the best suitable option is “ask your creditor”. But before asking your creditor, make sure that you have paid off your balance on time and haven’t exceeded from the paying off limit. This step will lead you to the lower credit card interest rates. Contact your creditor and ask him that you want lower credit card interest rates. Don’t forget to tell them that you’ve been receiving lower credit card interest rates offers and you could use these offers if your rates are not lowered by the current creditor. Use a polite way and be determined.

Tactics to Increase the Chance for Mortgage Approval

If you are considering getting a mortgage then you must know about these key facts about mortgage. This is because lenders check various factors while analyzing your mortgage application. You can increase the chances of approval of mortgage application by working on these important factors:

Be Sure You Don’t Have Too Much Debt

If you have too much debt then your application might be disapproved. If you are failed to pay off the debt payment within the deadline then you’ll also not be able to pay off the mortgage payment and risk defaulting. To overcome this problem simply calculate the ratio of your debt and income and check the results. Add all monthly payments other than your debt mortgage payment dividing them into your total monthly income. Calculate the percentage by multiplying the results with 100. The final result that you got after multiplying is your debt income ratio. If you got percentage below 28% (ideal percentage) then apply for mortgage. If you got higher percentage (above 28%) then first try to pay off the some amount of your debt before applying for mortgage.

Avoid New Debt

If you want to improve your chances to get mortgage then avoid taking new or additional debts that consists of large amount of money. Also avoid big credit purchases during the six months before you apply for mortgage.

Clear Previous Due Debts

If you have to pay a large amount of debt then clear it before applying for mortgage. To get your mortgage application approved you must clear all previous outstanding debts including charge offs, judgment, and collection accounts. After clearing all the previous due debt accounts take the copy your report that contains the information of your cleared debt accounts. You can order your free credit report at www.annualcreditreport.com or you can order it at little cost from the credit bureaus of USA.

Clean yours Credit Report

While applying for mortgage, make sure that your credit report is free from errors. Go through your credit report carefully and don’t ignore even a minor error because even small errors can lead your application to disapproval. If you find any disputed information then correct it. The correction process could take 30 to 90 days.

Look for Lower Down Payment

Try to avoid heavy purchases for your home because this will lead you to borrow less money. If you borrow less then the chances to get your mortgage application approval will increase. A higher down payment will allow you to pay off all your monthly expenses, lower monthly mortgage pay off, and finally lead you to manage other financial goals. There are some money lenders that allow least down payment requirements if you could find these money lenders. It will be beneficial for you and you would be able to save high down payment.

Try to Get a Pre-approval

Pre-approval is a better idea over pre-qualification because it enhances the chances of getting your mortgage application approved. But still you need to work hard on other factors, as well, and don’t just rely on pre-approval.

Do a Wise Planning

If you are really serious to get mortgage then control your expenses and prepare your finances to apply for mortgage. Be prepared and prepare everything to get your mortgage application approved.

How To Avoid From Being Panic At Stock Market Crash?

Stock Market ,no doubt, is the most important pillar of economy of any country. The rise and falls are also very often to appear at market. Sometimes it goes very high and sometime crashed down. People daily get profits and losses from it. But the important thing is “How to stand again after a complete slump?”

Being an investor, many times I also felt these crashes at stock market and also in me. Let me give some very simple and usual advises when your shares in stock market are sinking.

At crash, If your intentions were for long term investment. then just try to get relax and make this thing sure that you are not going to take decisions under emotional sentiments. Don`t try to transfer and sell your investment. First make a thorough study of market. May be it is just a seasonal temporary crash.

If the company ,of which you held the shares, is a big and strong one. Then the best thing is to sit back and wait for things happen in your way. Watch out the competition trend in the companies. If yes, then your shares value will definitely go up in future time.

There are generally two type of losses at stock market. One is realized and the other is unrealized. You are going to loss your actual money until you sell your shares.

The other side of picture is, you can take reasonable advantages from declining market. Many company can offer you shares at relevantly higher dividend rate. Find them and make some of your investments there. By playing calm and secure in any slump, you can turn your loss in your benefit. I hope you will do the right thing under stock market crash.

Increase in Canadian Mortgage Rates

1It’s in news, according to some mortgage professionals, mortgage rates will increase up to 5.25% in coming days for the Canadians real estate holders. canadian mortgage rates

Although nearly 375,000 mortgage-holders are already paying the high interest rate and official are preparing to impose 5.25 per cent mortgage rate to rest of 475,000 mortgage-holders. According to Canadian Association of Accredited Mortgage Professionals real estate market and residential mortgage market is now going down upon increase in interest rate.

With spread of news about mortgage rate increase many Canadian are much concerned about the mortgage payment. Although home equity also increase with the increase of mortgage interest rate but amortization of mortgage is decreasing as well and it put a person in problem for mortgage payments. But still there are many who have the opinion that it’s the best time to buy a home.

What Happens On Non-Payment of My Credit Card Bills?

Today, Everyone is under the stress of economy recession. Individual`s need can not come to an end. Every one want to fulfill his all desires with all available resources. Credit Cards also provide you some extra money for your needs. Initially it looks good and attractive, but later on it makes you under so much burden.

After a certain time when you are not able to pay credit cards bills. Then a very scary type of question arises “ What will happen now? ” or “ Can it put me in the jail ? ” Here are some contingencies that what happen if you don`t pay your credit card bills.

Bad Credit Rating

The nonpayment definitely lowers your credit score. On failure of bill payments, the concerned credit card company will surely go to the Central Credit Bureaus for their claim. A Bad Credit Score is not good thing for you. This bad credit will certainly effect your future rating.

If Anytime in future you have to apply for some job or any kind of loan like for your house, education, auto or any type of insurance. Then this Credit history will make huge problems for your approval.

Recovery Team

A huge harassment is possible when on non-payment of credit card bills, A recovery team from credit card company visits your place. Their calls and visits are very hard things to tackle. They use many psychological ways to get your accounts information. Don’t get yourself frightened by them. You have your Basic rights, so don`t worry and seek the police`s help.

Higher Interest Cost

The non-payment also led you towards high interest cost. After your first absence from payment, your interest rate will increase by the “Default Rate” Plus the charge or penalties for late bill submission. This eventually increase your financial burden. By closing of your credit card account, you can avoid that increment of interest rate.

Legal Action

When your credit card becomes delinquent, the Credit Card companies can take some legal course of actions against you. Although companies usually avoid to go in courts due to tiring long process. But they have their right. When the Court gives the decision against you, then bank is ordered to freeze your accounts. But you still have some ways of help through different agents and middle-men.

Student Debt Consolidation Loan : A Helpful Solutions

Students have major goal to get education from good institutes. For this purpose, some times they have to take some loans and borrowings. But occasionally too many financial assistances become problematic for their financial conditions. Instead of facing mental agony over these matters, a student should give concentration on studies.

Student debt consolidation loan can be the perfect solution for their financial problem. You can select for secured and unsecured debt consolidation loan. If someone can not avail secured options there are other options too. This categorization surely helps needy students under financial crisis.

There is no as such problem about the rate of interest because it will be at the lowest possible level. Normally interest rate is determined by taking average of all your loans and the nearest eighth of one percent is your interest rate. And the repayment mode is also flexible. You can repay it after 6 month from approval or even after the course end.

One of the biggest purpose of this kind of loan is combine all of your debts in to a single amount. This really helps you out of many problems. You do not have to pay different amounts to different lenders. And no need to calculate multi interest cost. So only remains thing in this scenario is to find right company. Internet is the best resource to find perfect lending company. Now what are you waiting for? go for it…

Fundamentals of Unsecured Loans

If you need a sum of money due to any shortage of funds then you can take advantage from unsecured loans. However, these types of loans are not the best choice. Before applying for such kind of loans take proper and complete information about these loans.

Unsecured loans are quite different from that of home equity loans or mortgages. In these loans you no property can be used as an assurance of the loan. Due to this feature these loans are categorized as loans with big risk. Here are some more attributes of this kind of loan:

Attributes of unsecured loans

No Assurance
Unsecured loans are not guaranteed by any property such as home etc.

Interest
Unsecured loans exhibit higher interest rates as compared to the secured loans such as home equity or mortgages. But these interest rates are lower than that of the interest rates on credit cards.

Fixed Terms
Unsecured loans exhibits fixed interest rates in the case if they are due at the end of the predetermined term.

Revolving Credit:
Sometimes unsecured loans can be used as a revolving credit same as credit cards.

Tax
These loans are not tax deductible.

The Advantages and Disadvantages of Unsecured Loans

If you are considering a personal loan then you must know about these factors:

Advantages

• An unsecured loan is a wise option if you do not own a property such as home.
• If you have spent much of your home equity loan and needing more money then you can take advantage from unsecured loan.
• These loans exhibit fixed interest rates.
• These loans exhibit lower interest rates than that of credit cards.

Disadvantages

• These loans are not tax deductible.
• These loans exhibit higher interest rates that can be over 10%.
• This type of loan is a preferred choice over credit cards, depending on your requirements and needs.

Requirements For Personal Loan

Are you a right applicant for a Personal Loan? Check the following requirements to analyze whether a personal loan will suit you or not.

Personal loans are not actually designed for everyone. In reality, these kinds of loans are not a good choice for many borrowers. But for many others, personal loans are a wise choice to borrow money.

The Attributes of a Personal Loan

A personal loan is quite different from that of the home equity loan or a mortgage because it is an unsecured type of loan. The unsecured loan means that no property can be used for the assurance of the loan. The other attributes of a personal loan are:

Unsecured Loan
A personal loan is a total unsecured loan because of no property can be used for the assurance of the loan.

High Interest Rates
The interest rates for personal loan are higher as compared to that of secured loans such as mortgages or home equity loan. But these rates are lower than the rates for credit cards.

Fixed Term
A personal loan exhibits fixed interest rates.

Revolving Credit
A personal loan can also be used as a revolving credit same as a credit card with variations in interest rates.

Tax
A personal loan’s interest can’t be deductible as a tax.

Who can apply for a personal loan?

Many borrowers apply for personal loan but only few comply with the requirements. Check below who can apply for it.

Home Renters
If an applicant does not bear own home then other than credit cards they are left with the only choice of a personal loan. They can take advantage from personal loan if they need a sum of money.

Home Equity Bankrupts
If anyone has already taken home equity loan and spent a large part of their loan then in this case they can take advantage from a personal loan to fulfill the need of small money. A personal loan is a wise choice over home equity loan or credit cards.

Credit Union Members
These unions provide fair and feasible interest rates on personal loans.

If you are thinking about applying for a personal loan then carefully check all the available options. A personal loan is however an unsecured loan but it is preferred over credit cards. Before applying for personal loan do research using various resources because the fee for personal loan may vary from lender to lender. You can carry out a good and reliable research on internet through many good websites such as .

Tip: Apply for a personal only if you needed a sum of money badly and spend it carefully.

20 Common Ways To Save Your One Dollar

In the today`s speedy world, every one tries to get himself within his budget. But things do not always go in the required way. The most common problem of today`s person is that he is continuously going out of the budget. Then he tries to recover that shortfall by getting extra borrowings and loans from others.

Let me give the most simple and effective 20 points, from which you can save your every Dollar throughout the year.

1. Make the Budget Flowchart : The most initial thing to do is make your budget flowchart. Decide what is more important and what is needless. Adjust your earning with your all expenditures. By cost-cutting method, you can easily get your expenses within your control.

2. Electricity Saving : In saving department, try to save electricity as much as possible. Turn off the useless lights and try to use low energy bulbs like fluorescent light bulbs.

3. Combined Services : Use the discounts offer from big service providing companies like combined cable and communication plus internet services.

4. Clothes : Try to avoid the usage of dryer after washing them. Hang them in the sun. Cloth towels and diapers can be used again and again. so use them instead of paper or disposable products.

5. Crockery : Re-usable dishes and other crockery can be used for daily meals in place of disposable ones.

6. Efficient energy products : Energy saving appliances should be purchased. Use the experts advise by auditing your house. It will make your place more energy efficient.

7. Water Accessories : By applying insulation to your water heater and using low flow showerhead, you can save the monthly electricity and water bill. Lowering your water heater`s thermostat at normal level also saves your Dollars.

8. Outer Shades : Narrow shades on windows or blind glasses will really help your room to stay cool. Direct sunlight will warm up your house quickly and then you need more AC consumption in summer. And in winter, Sun is the best heating resource.

9. Plantation of Trees : By planting trees around your house can make your home cooler. Direct appearance to sunlight can heat your home. so protect your windows and specially your AC outdoor units. 2-3 trees around your home can save surely $150 to $200 per year in energy consumption.

10. Maintenance : Regular maintenance and tuning can make your appliances to work for long time. whether it is your daily household like AC or your vehicle. Safety measurements will surely prolong its life and will save $100-150. For your vehicle, right flat tires can minimize your fuel consumption.

11. Fuel : First make a reasonable research for your fuel purchasing. Cheapest is the best.

12. Shopping Deals : Many departmental and grocery store provide discounts in many way to their regular shopper cards. Suppose 3 cents off per gallon, then you can get 10 cent off on your every $50 purchasing of households.

13. Vehicles : Your first priority should be a small car rather than giant one, if you are going for a new vehicle. And avoid travelling in usual rushy hours. this also saves your gas.

14. Travelling : Shortcuts can be availed while travelling. Avoid too many trips and best way to save your gas is carpool. your classmates and colleagues live near by you. try to adjust in one car instead of many different individual cars. All these things will save round about $350-450 in a year against fuel expenses.

15. On the Road : You should use public transport to go on your destinations instead of hiring taxi or train. Walking is another option which is free and helpful for your health. Bicycle is another good thing for going near places.

16. Meal Plan : Draw a schedule of your meals for the week or month. Make sure that all ingredients are present with you which you will require for preparing stuff in your meal plan.

17. Savings plus Discounts : Do some regular research for latest Ads about Meal offers at reduced prices. Sunday newspaper, TV advertisements, junk mail coupons can be good resource for this task.

18. Shopping and Dining : Whenever you go outside for some shopping or dinner, don`t stick to only one place. Scroll your self to different shops to find cheaper place. After finishing your purchases, take a brief look on receipts. Errors could be there.

19. Avoid Plastic Money : Try to avoid your all payment from plastic money. Although its a great facility to Pay through credit card, But interest charges, hidden service cost surely hurt you. By cash payments you can save $400-500 a year.

20. Other Common Expenses : Avoid the outside lunch, take it from your home. Leave the so-called beauty and exercising schools. And most important, leave your credit card and extra money at home when going outside. It definitely saves you from useless shopping.