Month: April 2016

Taking Control Of Your Personal Finances – Credit Card Consolidation Programs Can Be A Huge Help

Many Americans are taking advantage of credit card consolidation programs. They’ve found out the benefits of seeking professional help to pay off the loans owed to creditors.

If your debts are piling up and you owe debts to more than one creditor then the Credit Card Consolidation program is right for you. The program is simple. You are given a loan to pay off the smaller loans.

Why is this a viable alternative to simply ignoring the company or filing bankruptcy?

#1- You’ll avoid the negative mark that bankruptcy can leave on your credit for seven years or more.
#2- Consolidation Experts will educate you on your rights and options.
#3- You’ll be able to finally pay off your loans

There are other options. Now that you know this, bankruptcy doesn’t have to be one of them. Debt Settlement programs are taking the load off of overwhelmed individuals who have accumulated an enormous amount of debt.

These companies are experienced in debt relief and can not only act as a third party but negotiate to lower your payments and the debt you owe by up to 50%. This is the best method to use when you feel you are running out of money to pay your lenders.

Take advantage of these programs now and let the experts work for you. The federal government has come up with laws to protect you and fully support these programs. You’ll no longer have to stress over unpaid loans or put off dealing with your debt. Now you can finally be in control.

Research for yourself by going online and finding out how these programs have helped millions of Americans get back on track and how you can be helped too.

Starting a Small Business in Finance – Help People Repair Their Credit

Starting a small business is not too difficult. One area that you can start a business is in the finance industry. Perhaps you are a finance guru in hiding and you need to let the world know about it so that you can help them in some way.

One way to really help people is to help them repair their credit. There are a lot of individuals with credit issues who need help. They are looking at doing things such as bankruptcy and we all know that bankruptcy can cause people to not be able to acquire credit for many years to come.

So what you need to do is help people repair their credit. You can assess their income, their expenses, and tell them where it is they can cut corners and fix their credit. Fixing credit takes money, so that means a person has to budget so that they know where to take the money from. Many people can’t do this on their own. They need a little help and you can help them.

What you need to do to make people know about you is create a website and make sure that website has a lot of content about finance, credit repair, and budgeting. If you have information, people are going to come back again and again.

After you have your website and its content up, you then need to market the website. You can create social networking pages for your site, you can talk on forums about it, join email groups, buy ad space, do pay per click ad campaigns, and so much more. There is just so much you can do and because of that, you need to go for it.

Money Business is Dirty Business

For so long, money has always been associated with evilness. One of the probable reasons behind this is the belief that once we are driven by money, we may do certain things in an improper way just to take a good grip on wealth and all the underlying possibilities that it can give to us. It is not now to our knowledge that the modern world gave birth to the modern way of viewing life; that is in a way that is too far from the contentment that we used to have way back then.

This is the issue of contentment and its personal antagonist, insatiability. We were once contented with whatever nature gives us. We were once pleased with food, clothing and shelter present in our environment. Yet, time came when we were pushed further, aimed higher, up to the point when we never stopped from our cravings. That is when we became insatiable and driven by the force of materialism. From there, we put ourselves in the vanity of this world and produced identities from our greed and selfishness. We moulded our society in a different way, beating the odds of the natural development. We then became the suspects of today’s crimes and also the victim of these malevolence acts.

From the existence of these identities filled with the will for money making, identity theft comes into play. Identity theft is a product of too much insatiability in nature. It is the moving force for someone to illegally use someone else’s personal identity to satisfy the things that he cannot have using his own identity. Worse, majority of the cases of identity theft revolves not simply in the act of stealing someone else’s identity but also up to the point where he will use that identity to take advantage form the victim.

There are many forms of taking advantage. Topping the lists is because of money. This validates the idea that this modern world is really driven by money. Many identity thieves will dare to access the credit cards and bank accounts by creating duplicates and with that, cash out the savings of someone else without them instantly knowing about it. Worse, they may not about it at all since these thieves have this black propaganda of blocking the victim’s monthly mails so as to eliminate the information dissemination of the debt collectors to the person concern. Also, these thieves can put up loans like in housing and cars, or even health related. With that, they will be able to grant themselves with these benefits without allotting too much money and effort on it. On the other side of the story, some identity thieves will just use the victim’s identity to create stories about that person while other will use such to get away from police records. They will use an existing name and give them to the police once caught. With that, they will be excluded from having bad records; however, these are rare cases not like the money business.

It is indeed true that money business is a dirty business.

Credit Help for Real Estate Financing: Credit Scores

When you buy real estate, lenders run all of the “big three” credit bureau reports. Each credit reporting agency lists your credit history as supplied to them by the individual lenders and includes governmental records. Each report assigns a credit score number to you. The credit scores reflect your theoretical risk of default to the lending institutions.

Software developed by Fair Isaac and Company generates your “FICO score.” Experian uses a system called Fair Isaac Risk Model, a computer program which rates you with a score according to Experian’s information. Equifax bases scores on BEACON programs and TransUnion bases scores on EMPIRICA models.

Your Baseline

You have three credit scores, often called FICO scores, one from each credit bureau. The lender takes the middle score as your baseline. Lenders have different standards, but generally a “C” score is around 500 to 600, a “B” is around 600 to 680, and an “A-” is above 680. Over 700 is the magical number that gets you the attention you desire. If your score is under 500, find someone to privately finance for you or a partner with good credit while you work on improving your score.

How Lenders Rate You

Credit score Available mortgage financing
720 – 800 Superb! You get what you want
700 – 719 Wonderful! You get top rates & terms
680 – 699 Good! You get good rates & terms
660 – 679 All right. You pay higher costs & rates
640 – 659 Okay score if good income
620 – 639 Weak. You need good income & some money
600 – 619 Poor. Use creative loan broker & pay more loan costs
580 – 599 Almost impossible without large down payment
Under 580 Work on fixing credit without delay

What Does Not Count In Your Credit Score

The scoring model doesn’t compute:

Age & gender
Race
Whether you own a home or rent
Length of time at your current address
Job or length of employment at your job
Income
Education
Marital status
Whether or not you’ve been turned down for credit.

Real estate lenders don’t just consider your credit score when you apply for mortgage financing. Understanding your credit score helps you with this one part of your mortgage requirements.

Copyright © 2005 Jeanette J. Fisher – All Rights Reserved.