June 6th, 2009 | Posted in Credit Repair, Uncategorized, bankruptcy, credit card debt
Bad credit history can make it troublesome to get another credit card, but not impossible. Many banks offer bad credit credit cards to help individuals with good intentions to reestablish a positive credit rating.
There are two categories for bad credit credit cards to fall under, secured and unsecured. A secured credit card will require you to deposit a certain amount of money, from several hundred to several thousand dollars, into a savings account as security for the line of credit. Your credit line is a percentage of the deposit usually somewhere between 50 and 100%. The bank then issues you a credit card with a spending limit equal to your credit line. Your deposit will be used as collateral for this credit. If you fail to keep up payments or pay the balance, it will be taken out of the collateral. Some programs may even pay you interest for your deposit, but might have application and processing fees. Continue reading »
June 5th, 2009 | Posted in How to Start Paying Off Debt
It’s so easy to make the mistake of planning a budget that only covers the absolute essentials - mortgage, utilities, groceries, car payments, etc. Why is that a mistake? Simple: nobody can live like that for very long. Crash diets are healthy. Crash budgets are impractical.
So this is what to do. First, determine all the luxuries that you usually enjoy. Don’t hold back. If you need help remembering, check the receipts from your credit and debit cards for the past few months. Continue reading »
June 3rd, 2009 | Posted in Credit Repair, Loans
It is entirely possible to finance a new or used car even with sub-par credit. There are even ways to increase your chances for approval and possibly reduce your interest rate. Do not seek an auto loan without first doing the research. If you have good credit you have limitless options. If, like many of us, your credit leaves something to be desired, you will need to search for a good deal. These four tips can help you get a car no matter what your credit. Continue reading »
June 2nd, 2009 | Posted in Credit Repair
If you’re not constantly keeping an eye on your credit report, you might find some surprising errors and mistakes or even a couple black marks. Thank goodness a credit repair company can help you patch that record up. You have to be wary of scammers though, and make sure to choose a reputable credit repair company. These tips will help you choose the right one. Continue reading »
June 1st, 2009 | Posted in Budgeting
If you’re trying to shed extra pounds, you diet. If you’re trying to get your budget to stretch farther, you’re going to need to the same thing with extra expenses. Get rid of them. With the average American household’s debt now exceeding $7,000 according to recent surveys, the only hope of relieving that debt is to adjust your spending habits. Continue reading »
May 30th, 2009 | Posted in Uncategorized
Today, far too many people rely on their credit cards in order to support their daily habits. It is all too common for people living their whole life on a line of credit. This can work fine for a while, but it comes at the expense of having to give up almost all of your paycheck just to keep the credit pipe flowing. Continue reading »
May 29th, 2009 | Posted in bankruptcy, debt consolidation loans
People suffering from massive credit card debt have contemplated whether they should file for bankruptcy or get a debt consolidation loan for years. The short answer is, if you can get the loan, do that.
Yeah bankruptcy sounds nice. You don’t owe anybody anything afterwards, though you may have to liquidate some of your assets. The problem is the huge black mark this leaves on your credit report. This is a black mark that never goes away. The seven-year rule you always hear about will not help. Continue reading »
May 28th, 2009 | Posted in credit card debt
As Thomas Jefferson said, “never spend your money before you have it.” Sadly, credit cards have become a necessity as opposed to the luxury they are supposed to be. The reality is a lot of us use our credit cards to impulsively buys things we want but do not need. The problem comes in the lean times, and you find your interest rate skyrocketing because you made a late payment. Continue reading »
March 27th, 2009 | Posted in How to Raise Cash
One way to take a little pressure off when you’re in debt is to raise some quick cash. This is especially true if you’re having trouble meeting your minimum monthly payments. Even if you’re not in a desperate situation, it never hurts to have a little cushion of money for emergencies, or to pay down your debt quicker.
Try these 10 ways to create that extra bit of cash: Continue reading »
March 12th, 2009 | Posted in Debt collectors
If you’re in the unfortunate situation where you are dealing with debt collectors, keep one thing in mind: these people are not out to do you any favors. Of course, you need to pay off your debt, but you also don’t deserve, nor should you be subjected to, harassment, intimidation, and threats by bill collectors. Continue reading »
