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I thought I & would take a moment to write a quick blog post. I haven't written much this year. I've been spending my time building out my site, and learning how to program... By concentrating my time on the site development, I've become quite proficient at programming, which means that the structure of this site is becoming better and better.
The good news is that the look of the site is getting better and better. I've started to hire out the cosmetic part of the site... I'm not a website cosmetician by any means. :)
I'm hoping to publish the next section of the site: the topic categories, by the end of this week.. The complexity of the new design is much greater than what I've dealt with in the past.
I'm rolling out the new look of the site in sections... basically as I build them, I will publish them. This means that the discussion forum won't match for a few months, but hopefully by Jan 1, or sooner, the whole discussion forum area will match.
You may ask, "why am I building out the site myself?" why don't I hire this out? I got it into my head that I wanted to learn about programming when I first published the site in 2005... I guess it's one of those personal interest type things.. As I learned more about programming, CSS, html, php, and mysql, I realized I could build out the site, better - stronger - faster with the better techniques I learned.
After I finish my planned build out, I hope to get back to my regular blog posting and podcasts with experts etc.
The good thing about a DIY site is this: It's all paid for in cash, with no debt acquired to build this site.. The process is slower, however as a website we remain financially safe... which is what we recommend to our visitors.
Anyway... please do look for the new discussion forum look as I roll it out in the next few weeks/months.
Cheers.
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Bankruptcy discharge is a lawful term which means that all your obligations towards the creditors have been cleared and you no longer have to payback certain kind of debts. Your creditors no longer have the right to try and collect debts from you.
How fast can bankruptcy be discharged?
It depends on the chapter you have filed under (Chapter 7 or 13). If you have been granted to file under Chapter 7 bankruptcy can be discharged within couple of months.
Chapter 7 bankruptcy however requires you to sell all your property that is not exempt under the federal or the state laws in order to payback your creditors.
If however you have filed under Chapter 13 bankruptcy, you will not have to sell your property to settle your debts to the creditors because it will be taken care of by the repayment plan.
With Chapter 13 bankruptcy will be discharged after you have completely paid back all debts from your payment plan.
Which debts can be cleared and which not?
Some of the debts you can successfully clear are: 1. Credit card debts 2. Unsecured loans 3. Utilities 4. Bills from department stores 5. Gas bills 6. Legal bills 7. Health/medical bills
There are however some bills Congress has determined must be paid and can not be discharged. Most of these debts can not be discharged because of the way in which they incurred, meaning that debtors improper behavior is responsible for them.
Some of the debts that can not be discharged are:
1. Alimony 2. Child support 3. Taxes 4. Student/collage loans 5. Debts incurred from embezzlement or fraud 6. Secured loans 7. Debts which are not stated in your bankruptcy documentation 8. Debts for luxury services or goods and cash advances made just before filing bankruptcy
Exactly which of your assets will be turned over to the trustee is determined by the bankruptcy law. Under federal bankruptcy law you are allowed to protect some of your property from the creditors claims.
This is allowed because some items are exempt and protected under the federal or the state laws.
Because most states have used the privilege to adopt their own exemptions you will have the right to choose between the state and federal bankruptcy exempts.
It is very useful because although types of property allowed to be exempt are very similar in both federal and state law, allowed asset values can be very different (this is why it pays to consult a bankruptcy lawyer).
About the Author
At www.Debt-Free-Family we are dedicated to help you get out of debt, avoid bankruptcy and enjoy a debt free life. Visit us and find out all about Laws On Bankruptcy.
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Are you looking at that amazing new plasma type television in your electronic store?s window? Isn?t it something? It would look absolutely wonderful hanging on your wall right now, right? Oh, so you cannot really afford it, but that does not matter to you right now? You do have a credit card, and it?s okay to just put it on the plastic and go home with your new toy, right? That?s the American thing to do. However, your bill has arrived and the credit card amount you have to pay is big, very big, but that does not matter, does it? You better stop now and think again.
The overwhelming problem with society?s current mentality is that for some strange reason we think we can buy things that we really cannot afford. This is a major mistake on our parts. It?s high time that we changed our foolhardy attitudes. It?s time to get the help we need with credit card debt and simply stop spending what we don?t have.
So, you need help in dealing with that niggling and worrying credit card debt? That?s not a problem. You are not the first or the last person to be in this self-inflicted mess. We have all done this. We get our first credit card and assure ourselves that we will never need to use it, except maybe for emergencies. However, that didn?t happen, did it? I was in college once, had the same attitude, and started using mine on a regular basis. I strongly imagine that this seems quite a familiar situation to you. You like myself thought it wouldn?t be a problem. We could add that bill or quick purchase to our credit card and everything would miraculously not suffer as a result. Yes, the debt incurred would be in the thousands, but soon we would have that well paid career and could clear the debt right away. Right? I guess we were all wrong because the reality is that life doesn?t always work the way we planned it. Before I knew it I was in the same position as you, in dire need of credit card debt assistance. Yes, I got that career, but not in the time frame I had hoped for.
Thankfully, finding credit card debt assistance is as easy as accessing your computer and the Internet. Start by searching for credit card debt consolidation and debt management. It is possible to stop struggling making ends meet and enjoy lower monthly payments. This is one of the best ways to avoid bankruptcy.
About the Author
Jack Blacksmith's long articles are found on plenty of websites linked to investing. You can find his work on investing and eliminate credit card debt at http://www.debtania.com
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Managing credit card debt is reliant on good money management and the type of debt management advice you receive. It is no different to the American dream. It has different meanings depending on who you are. Some people believe that it is the right of freedom and the chance to secure wealth and needed security. To others it can mean home ownership, being an entrepreneur or simply being free to do absolutely nothing. Whatever your version may be of this, you are aware that this requires work. Most Americans work very hard, but soon find themselves overwhelmed. Even the high earners can get into debt while trying to secure their American dream. To avoid filing for bankruptcy when this occurs, you need to get good credit card debt management counseling.
Good debt management counseling is very predominant because most become overwhelmed by debt. It seems all too easy to put payments on your credit card, and sadly most people think they will be able to pay the bill later. Unfortunately, most of us consider credit card interest, which is charged when you are tardy with even a single payment. Then when your repayments fall into arrears, your balance spirals dramatically into a mess.
Many firms offer some sort of debt type management counseling. Many simply just help you deal with your debt. Some are called non-profit and others make a profit. So, its vital to do your research before committing yourself to one company because most of them will provide debt management counseling and combine this with established relationships with lenders to help lower debt quicker than you may realize.
If you are behind on your debts, and unsure of how to deal with this, you may well have already started receiving daily and nightly phone calls from debt collection agencies. This whole experience might make you feel anxious, depressed and ready to dispose of your phone. However, before you let your debt control your life, you need to get some good debt management counseling. The first thing they can do for you is to stop the collection calls.
With time a reputable company can help you get rid of your debts completely, and you will learn new skills about good money management. This will help you learn vital debt management skills and know how to handle your finances for the future, leaving you forearmed. You may also learn the skills needed to lower credit card rates and how to repair credit rating so you can get access to loans with lower interest rates. Remember this, more and more Americans are falling into debt, but you do not have to let this apply to you.
About the Author
Johnathan Bakers repeatedly makes articles on questions about assets. You can learn about his work on managing credit card debt over at http://www.debtania.com/managingcreditcard.html and various other sources for managing credit card debt knowledge.
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We have all experienced getting so far in debt we don't know how we're going to get out. There are many different options that you have for quick relief with benefits and consequences.
You can achieve more than 100% returns on your money simply by paying extra money on your mortgage each month or as often as you like.
There are numerous types of debt, including basic loans, syndicated loans, bonds, and promissory notes. Debt, especially large sums of debt, can also be secured through a mortgage or other security interest over some of the debtor's property, in which case the creditor will have some rights over that property in the event that the debtor becomes unable to repay the debt and defaults on the loan.
If your objective is to reduce interest rates and lower your monthly payments, avoid bankruptcy, consolidate your bills and have one monthly payment, or simply get out of debt the fastest way possible, then a debt consolidation loan could provide the answer.
Reduce debts today for a better life!
When to Use Emergency Debt Relief Programs
If you are on a debt crisis, an emergency debt relief plan can help you find solutions of all payments and credits. You may use an emergency debt relief plan if you are in a situation where you are no longer able to get out of the high cost of interest and high amount of debts.
Those who use an emergency debt relief plan are those individuals who have very high credits. You may have overspent your credit card and have engaged yourself with high interest rates. You may be in the situation that you can no longer afford the high charges of interest on your credit cards.
There are many ways on how you can get out of debt immediately using an emergency debt relief plan. They will provide you educational services on how you can manage your expenses wisely. They have promising goals for your financial stability. You will also be assisted with their credible information customer services on how you can be relieved with the headache of having a debt crisis.
The debt settlement you will initiate with your financial institution will be handled properly by your emergency debt relief plan. It also handles the responsibility on choosing the right person to talk to in negotiating your credit problems. All your personal information is kept safe and protected properly under their policies.
Make a Budget. If you want to have a grab of your financial situation before you lose everything, making a budget is what you should do first. Assess how much do you get from your income or other means and your expenditures. For example, if getting that posh apartment means you have to limit your meals to once a day, then it is not a great and sound budgeting decision.
There are numerous groups, individuals, or products on the market that are designed to help individuals dig their way out of and recover from debt. Although these products are available, there are still thousands of individuals that choose not to receive assistance. It is true that some individuals may be able to recover from debt on their own; however, it will likely take a large amount of time and stress.
The main reason for this risk is that in order to secure a lower interest rate (and thus a cheaper overall payment rate), you'll need to present some sort of collatoral to back the loan.
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector."
You should know that in either situation, the Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection. Of course, the law does not erase any legitimate debt you owe.
Considering filing bankruptcy? If your finances are in ruins and you're considering filing bankruptcy, there's a few things you should know.
Getting out of your high debt can be challenging. However, using the right information on an emergency debt relief plan will let you find yourself debt free in just a short period. Here are some tips that can help you get out of overwhelming debts.
1. You may cancel your credit lines and choose a plan that will offer a low cost of interest on your credit card.
2. If possible, it is advisable that you use cash on your purchases. Make sure that you buy items that are within your budget.
3. You may make additional payments on your next due date bills. You may add the previous debt payment on your current debt.
4. You should pay all your bills on time. In this way, you will avoid penalties and charges on your credit card.
5. It is advisable that you reduce the number of your credit cards. You may only use one credit card to avoid heavy interest rates for having many cards. Cancel cards that you are not using.
Remember to find a credible emergency debt relief plan to ensure the safety of your personal account information. Now that you have been educated with the right things to do, you may expect freedom from debts and good credit ratings.
However you got into debt - unexpected financial difficulties, illness, loss of providing member of the family or overspending - you can turn to several organizations and charities for advice.
In a credit card debt consolidation, your average interest rate may be reduced. All your loans can also be transferred to one single card that has a lower interest rate than the ones you are currently paying.
The average American household carries almost $10,000 in credit card debt. When this is added to the mortgage and auto loan found in the typical home, the debt can become overwhelming.
The first step toward taking control of your financial situation, is to do a realistic assessment of how much money you earn and how much money you spend. Start by listing your income from all sources. Then, list your "fixed" expenses -- those that are the same each month -- like mortgage payments or rent, car payments, and insurance premiums.
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Credit card debts can mount up and get out of control quickly, you can reduce them today!
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Remember: Running away from your creditors is not the answer. It is not a solution, and may in fact lead you to bigger problems. If you are having trouble paying off your debts, address this immediately with your creditors.
By accelerating the payment structure on your loan, the life of the loan is reduced:
In a normal 30 year fixed rate loan situation, your monthly payment is applied towards principle and interest. It is amortized over the course of 30 years.
Before a debt can be had, both the debtor and the creditor must agree on the manner in which the debt will be repaid, known as the standard of deferred payment. This payment is usually denominated as a sum of money in units of currency, but can sometimes be denominated in terms of goods. Payment can be made in increments over a period of time, or all at once at the end of the loan agreement.
Learn more ways to reduce debts today.
Many credit card accounts come bundled with hidden fees and high interest rates, accounts that many Americans have no hopes of ever paying off.
Debt Relief Clearing House Tips
There are times that you are faced with heavy credit card interests because of too much shopping using your credit card. You may be forgetting that you are spending too much and allow yourself to be buried in high credit card charges.
Credit cards are very useful especially if you are short of cash. Credit cards allow you to pay bills conveniently even without any cash on your wallet.
However, There may be times that you encounter credit card problems because of the number of bills and the high interest rates on unsettled payments. In these situations, you may need a free placement service or a debt relief clearing house fee placement service. A debt relief clearing house service helps you to manage all your unpaid bills. It allows you to assess your debts and provides services on how you can settle your credits. Here are some advisable debt relief clearing house tips.
1. Use only one credit card as much as possible. In this way, you will be updated on your unpaid bills and you can pay them on their due dates. If in case you are using two credit cards, you may choose to pay only one credit card first. You may allot a minimum payment for the other card in case your budget is limited for the other card.
Most creditors want the money and will extend your time to repay the debt, since they do not want to go through the hassle that comes along with reporting you. Most creditors want their clients to return and believe that if they give you a chance you will repay your debt and open a new account.
Your bank may be all too glad to lend you money to help you consolidate your debt. However, banks also charge application fees ranging from $50 to $200 or more per loan. In addition, banks make getting a debt consolidation loan difficult as approval for this type of loan is hard to get especially if your existing debt levels are high.
Individuals or families in debt run the risk of loosing their home, vehicles, or other assets. Many of those who do not own a home or other obtainable assets are likely to never be able to own one.
If you have an attorney, the debt collector must contact the attorney, rather than you. If you do not have an attorney, a collector may contact other people, but only to find out where you live, what your phone number is, and where you work. Collectors usually are prohibited from contacting such third parties more than once. In most cases, the collector may not tell anyone other than you and your attorney that you owe money.
Bankruptcy is not your only option. Millions of people credit is devastated by bankruptcy every year. Though filing a Chapter 7 Bankruptcy will clear you of any obligation to creditors, it is devastating to your credit and will ride your credit report for ten years.
2. You may consider using a consolidation loan to pay off your credit card bills. This will make it easier and faster for you to settle all your credit card debts. You should also cancel unused credit cards to avoid accumulating interest.
3. You should be smart in using your credit cards. Review your previous bills and see how much interest you are paying monthly. You should cut off the expenses you spend using your credit card. Try to pay cash or use a debit card for your purchases to lessen your credit card interests.
4. It is advisable that you use a Bankcard credit card. This will help you manage the interest you get from your credit cards. This will also serve as your line of credit to ensure you of getting out of your credits.
A debt relief clearing house helps you to be informed on how you can control your financial condition. It also allows you to repay all of your loans without having trouble. Their service provides management programs that will help you reduce interest rates on your credit cards.
Another alternative is a Personal Loan or Debt
Consolidation Loan. This is one large loan to pay off smaller loans or debts. With one large loan, you will normally have a lower percentage rate and a longer pay off period.
In a credit card debt consolidation, your average interest rate may be reduced. All your loans can also be transferred to one single card that has a lower interest rate than the ones you are currently paying.
Stop spending on things that aren't absolutely necessary. Each individual will have to define what "necessary" means, but it may mean taking a sack lunch to work, bringing your own coffee instead of stopping at Starbucks, and canceling that subscription to HBO.
Many people are looking to consolidate debt online because they're short on time and money. However, it's important to proceed with caution. Take the time to explore what's available and decide upon the best course of action for you.
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Debt is a hard thing to live with, reduce debts today!
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Consolidation is nothing but the process of negotiating the rate of interest that will ultimately determine by how much the borrower's payments will be reduced and what his overall settlement will look like.
Many of these desperate consumers find themselves contemplating a bankruptcy filing, but bankruptcy can carry a legacy you will have to live with for years. A bankruptcy filing will stay on your record for a minimum of seven years, and you may find it difficult or impossible to obtain necessary credit in the interim.
In national accounting debts are added according to those who are indebted. Household debt is the debt held by households. "National" or Public debt is the debt held by the various governmental institutions (federal government, states, cities ...). Business debt is the debt held by businesses.
If your objective is to reduce interest rates and lower your monthly payments, avoid bankruptcy, consolidate your bills and have one monthly payment, or simply get out of debt the fastest way possible, then a debt consolidation loan could provide the answer.
Credit card debts can mount up and get out of control quickly, you can reduce them today!
Tips to relieve consumer debt
Is there a way to relieve if not totally eliminate debt? Believe it or not, there is. And all it takes is a real plan and course of action of actually paying creditors.
Thankfully, there are ways to reduce debts that would enable you to make lower monthly payment obligations. Few bills actually mean more money for yourself or for your savings. This money can then be used for other useful and relevant things.
The following are basic tips to help eliminate debts.
Pay more than the minimum
Bills usually come at a designated time of the month. Usually, this bill details the minimum amount that needs to be paid on or before a particular date. As much as possible, try to pay at least triple or double the stated minimum amount. This makes it easier for you to pay off quickly the credit card balance.
Get a loan for bill consolidation
The best and usually most effective and efficient way to help alleviate debts and to eventually become free from its chains is by getting loans that consolidate debt and bills. If there is a house you own, you may consider getting a mortgage cash-out refinancing or a home loan equity. Any funds that are acquired from such transactions could be readily used to pay credit card bills with high interests and any other debt.
Make a Budget. If you want to have a grab of your financial situation before you lose everything, making a budget is what you should do first. Assess how much do you get from your income or other means and your expenditures. For example, if getting that posh apartment means you have to limit your meals to once a day, then it is not a great and sound budgeting decision.
The higher the score is the better looking your credit appears and visa versa. Many individuals or families with a large amount of debt have a low credit score; therefore, they are generally unable to receive loans or credit cards.
The main reason for this risk is that in order to secure a lower interest rate (and thus a cheaper overall payment rate), you'll need to present some sort of collatoral to back the loan.
You can stop a debt collector from contacting you by writing a letter to the collector telling them to stop. Once the collector receives your letter, they may not contact you again except to say there will be no further contact or to notify you that the debt collector or the creditor intends to take some specific action. Please note, however, that sending such a letter to a collector does not make the debt go away if you actually owe it. You could still be sued by the debt collector or your original creditor.
For many who buy wisely, the equity could be substantial. A home equity loan can be used to pay off high dollar items, pay for college tuition, and be used to pay off those high-end credit card accounts.
Loans from home equity actually create additional types of loans. These types of loans have terms that are fixed and low loan rates. Also, they are easier to repay. However, if you choose to refinance, any money received comes together with a loan mortgage.
Another type of bill consolidation involves the acquisition of a personal loan that is secure or unsecure, from a valid financial institution. If in case you don't qualify for such, get the services of a company that manages debt.
Obtain a balance credit card transfer
Usually, those who have heavy debts in their credit cards find it unthinkable to acquire another card. Think again though, there are credit cards out there that offer a balance transfer facility at a zero percent rate as their introductory offer. This offers a good opportunity and means to help ease and eventually eliminate credit card debt.
All in all, easing the monetary pain brought about by debt is easy as long as you are committed to the task. All it really takes is patience.
Debt Consolidation- Debt Consolidation is an easy and timely alternative. A Debt Consolidation Counselor will evaluate your current situation and past debt and develop a budget for you.
Interest rates for credit card debt consolidation loans through traditional lenders may be based on your credit score. If high, you are likely to get a credit card debt consolidation loan at a lower interest rate.
The prospects of managing financial obligations have just gotten worse, as Congress has passed legislation that will make bankruptcy filings more difficult than ever.
Debt Elimination tips shows how Millions of Americans are living on the edge of financial disaster surviving only on the hope of next week's paycheck. The average American is dying under a load of debt, with little or nothing building in the bank or in investments.
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Learn more ways to reduce debts today.
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You have unbearable debts and the debt consolidation might be your option for you debt problem. There are so many debt consolidation agencies around in the marketing with their "The Best" debt management program which will help you to resolve your debt problem. All the plans seem to very good and it is a hard decision for you to select the best for you.
While considering all the plans offers by debt consolidation agencies, there are at least 3 worst debt consolidation moves which you should avoid them. These 3 worst debt consolidation moves include:
1. The Hard-Money Loan
If you already miss a few months' repayment and your repayment sums are piling up and exceed your monthly financial capability; and you are tired of answering harassing call and mails from various creditors to urge you to make payment. Then, you probably need a loan urgently to eliminate the harassment from creditors and bring down your monthly repayment to affordable level.
The consolidator may entice you with promises of an easy-does-it loan, and end up charging you higher interest rates than you're paying now -- as high as 21% or 22%. "Your monthly payment may be lower" with one of these loans, "but you'll end up paying more". You should get a consolidator who will look for other alternatives besides offering you an easy loan with high interest rate, such as negotiate with your creditors for better repayment options.
2. Debt Consolidators Who Promise to Take Care of Everything
The debt consolidation companies may incur an up front fee of one easy payment to cover for everything, they will negotiate lower interest rates, reduce your monthly payments. & etc. These debt consolidation companies will promise you that they will take care everything for you and all you have to do is make "one Easy payment'
In reality, many debt consolidators build in a fee as part of the monthly payment you make to them. It's usually about 10% of the payment (i.e. about $50 on a $500 monthly payment). They pass along your payments to the creditor and get back a 10% to 15% from your creditors; normally this is part of the negotiation outcome with your creditors.
Here's another risk with consolidators you should know about: they have been known, in some cases, to make late payments or even miss payments, thus worsening your plight (and your credit record). Hence, it is good for you to follow up with the debt consolidation company or even your creditors to check you payment status.
3. The Balance Transfer Trap
Low-interest balance-transfer cards are a dime a dozen these days, but remember that those rates only last a few months. Most of the balance transfer plans offer you with a low interest for the first fee month normally 3, 6 or 9 months; after that period, the interest rate will get back to normal, worse still almost all the balance transfer plans will require you to pay for a process fee. After that "low-interest-rate" period, you may have to apply new card to balance transfer these amount again. The danger is that at some point all this activity begins to show up on your credit report, and you start to look like a bad risk.
If you think you can swing from the balance-transfer vines for a few months, just make sure you formally close all your accounts yourself, and then notify the credit-card company to mark the account "closed at customer's request". Otherwise, on your credit report, it will look like the creditor closed your account which will have a bad impact on you credit record.
Summary
A debt consolidation is an option for you to resolve your debt problems and they are many alternatives and plans offers on debt consolidation. Review them carefully and avoid worse debt consolidation moves as mention above if you have a better option.
About the Author
Cornie Herring is the Author from StudyKiosk.com. "StudyKiosk-Credit Basics" is an informational website on credit basics and debt consolidation.
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When a person seeks out a loan, he aims for the minimum rate of interest. The rate of interest he decides on will be fixed for the entire duration of his payment plan, so he must choose wisely the first time.
More and more consumers today find themselves in the uncomfortable situation of only being able to afford the minimum payments on their credit cards. Or, even worse, not being able to afford even the minimum payments. In today's world, it is often easy to get in over your head and find yourself spending more than you make. It seems that everything is going up but wages, and it is all too easy to fall behind.
Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
You're not alone. Many people face a financial crisis some time in their lives. Whether the crisis is caused by personal or family illness, the loss of a job, or overspending, it can seem overwhelming.
If your objective is to reduce interest rates and lower your monthly payments, avoid bankruptcy, consolidate your bills and have one monthly payment, or simply get out of debt the fastest way possible, then a debt consolidation loan could provide the answer.
How to Get Out of Your Credit Card Debt
Having a credit card is very convenient. You don't have to carry a lot of cash around and won't feel bad should it be stolen. This is because one phone call can have the credit card cancelled while there is no way to replace money that was lost.
But if the shopper spends too much, this could be a problem. The individual will be paying these off with interests, which is much more than the amount that was actually purchased. Here are some tips that can help get anyone out of credit card debt.
1. You should write down all the expenses over the last 3 months. If these are too much, its time to sit down and work on a monthly budget.
This should be stripped down only to the necessities such as rent, food, gas, utilities and insurance payments. This will give you the extra cash needed to pay off the credit card debt.
2. Sometimes it is hard to monitor all the expenses if there are a lot of credit cards in the wallet. Financial experts advise those in debt to only keep two and cancel the rest. One will be used regularly while the other is kept for emergencies.
Some people have expressed skepticism that you can actually negotiate with creditors using our strategy or other creative methods of reducing debts.
The higher the score is the better looking your credit appears and visa versa. Many individuals or families with a large amount of debt have a low credit score; therefore, they are generally unable to receive loans or credit cards.
The Consumer Credit Counselling Service (CCCS) reports that calls from people worried about debt have been increased by 50% compared with last year.
Remember: Running away from your creditors is not the answer. It is not a solution, and may in fact lead you to bigger problems. If you are having trouble paying off your debts, address this immediately with your creditors.
Bankruptcy is not your only option. Millions of people credit is devastated by bankruptcy every year. Though filing a Chapter 7 Bankruptcy will clear you of any obligation to creditors, it is devastating to your credit and will ride your credit report for ten years.
This makes it easy to monitor especially when most banks send the monthly statement at the end of the month.
3. Most banks will either call or send a letter if payments are late. You should talk to these people about the steps being taken to remedy the situation to avoid getting a bad credit rating.
Those who don't will have a hard time later on in getting another credit card or a loan since nobody will trust the applicant anymore.
4. Setting aside a portion of the salary each month may not be enough to pay the credit card debt. Should this happen, the owner will have to get rid of some of these expensive items. An example will be giving up on the car since a certain amount is spent just to make the monthly payment.
5. Some people decide to get a home equity loan to pay off the credit card and other debts. Going through the phone directory or asking around can help the individual find a firm that can combine everything into one payment at a low interest rate.
Getting out of credit card debt will be a challenge. You should stick to the plan and be committed to doing it. Otherwise, all the planning and cutbacks done will amount to nothing.
Debt Consolidation- Debt Consolidation is an easy and timely alternative. A Debt Consolidation Counselor will evaluate your current situation and past debt and develop a budget for you.
Interest rates for credit card debt consolidation loans through traditional lenders may be based on your credit score. If high, you are likely to get a credit card debt consolidation loan at a lower interest rate.
Learn more ways to reduce debts today.
The average American household carries almost $10,000 in credit card debt. When this is added to the mortgage and auto loan found in the typical home, the debt can become overwhelming.
Many people are looking to consolidate debt online because they're short on time and money. However, it's important to proceed with caution. Take the time to explore what's available and decide upon the best course of action for you.
About the Author
Credit card debts can mount up and get out of control quickly, you can reduce them today!
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Dealing with credit card debt is not as hard as you may think. If there's any consolation, you're not the only one facing such situation. At some point, many people like you face financial crises with credit card debt.
Many of these desperate consumers find themselves contemplating a bankruptcy filing, but bankruptcy can carry a legacy you will have to live with for years. A bankruptcy filing will stay on your record for a minimum of seven years, and you may find it difficult or impossible to obtain necessary credit in the interim.
In national accounting debts are added according to those who are indebted. Household debt is the debt held by households. "National" or Public debt is the debt held by the various governmental institutions (federal government, states, cities ...). Business debt is the debt held by businesses.
Debt consolidation allows a consumer to present their financial case to a lender who may be willing to take on the burden of paying off debts in exchange for one monthly payment made to the lender.
Tips on Selecting Debt Consolidation Services
So you've finally decided to use the services of a debt consolidation company. Good for you! There's no shame in admitting that you need help. But then what? Well, the next thing you should concentrate on is finding out how a debt consolidation company can help you best.
Types of Debt Consolidation Services
There are many ways a debt consolidation company can help you solve your financial obligations. The first and general step taken by debt consolidation companies is to merge or consolidate your loan. To what purpose that would serve depends on your present situation; you may either choose one, a combination of several methods, or all of the services they're offering. Take out all your pending bills and study them one by one. Identify the problem areas and see which of the following alternatives would aid you the most.
Lower Interest Rates - Perhaps, the root of all your problems is the misfortune of being saddled with high interest rates. If so, a debt consolidation company will be able to assist you by negotiating with your creditors and asking them to lower the interest rate.
Longer Payment Period - Maybe you're having those panic attacks simply because the due date is always just fifteen days away? If so, a debt consolidation company can once more step in to the rescue by asking the creditors nicely about extending the term for your debts.
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector."
There are numerous groups, individuals, or products on the market that are designed to help individuals dig their way out of and recover from debt. Although these products are available, there are still thousands of individuals that choose not to receive assistance. It is true that some individuals may be able to recover from debt on their own; however, it will likely take a large amount of time and stress.
Your bank may be all too glad to lend you money to help you consolidate your debt. However, banks also charge application fees ranging from $50 to $200 or more per loan. In addition, banks make getting a debt consolidation loan difficult as approval for this type of loan is hard to get especially if your existing debt levels are high.
Debt is a hard thing to live with, reduce debts today!
After you have contacted each creditor, you can start setting up a budget plan that will help guide you through the process of eliminating your debts. Start with a weekly budget plan and then work your way toward a monthly plan.
You should know that in either situation, the Fair Debt Collection Practices Act requires that debt collectors treat you fairly and prohibits certain methods of debt collection. Of course, the law does not erase any legitimate debt you owe.
Considering filing bankruptcy? If your finances are in ruins and you're considering filing bankruptcy, there's a few things you should know.
Credit Counseling - No clues at all about how to pay off your debts? Not to worry, because debt consolidation companies are pretty much experts when it comes to those things. They'll give you valuable advice not only on paying off debts but also on saving money.
Eliminating Calls from Creditors - Have a hard time handling those nasty, high-pressured calls from your creditors? If so, let your debt management company do all the listening. With them to support you, you'll almost feel like there's no pressure to pay off your debts. But there is, mind you, and it won't do you good to forget that.
Other Kinds of Debt Consolidation Services
Lastly, when you've paid off your debt, a debt consolidation company may also offer other services that you could be interested in and will help prevent you from falling for the same trap in the future.
Improving Credit - Your credit rating has certainly taken a beating with the amount of debt you've run up. With the help of a debt consolidation company, however, you can slowly but surely build your credit rating, and maybe make it even better than before.
Money Management - With them, you'll learn how to spend right and save more.
Another alternative is a Personal Loan or Debt
Consolidation Loan. This is one large loan to pay off smaller loans or debts. With one large loan, you will normally have a lower percentage rate and a longer pay off period.
In a credit card debt consolidation, your average interest rate may be reduced. All your loans can also be transferred to one single card that has a lower interest rate than the ones you are currently paying.
In addition, the major credit card companies, at the urging of the Federal government, have recently doubled their minimum monthly payment to about 4% of the outstanding balance.
Reduce debts today for a better life!
The first step toward taking control of your financial situation, is to do a realistic assessment of how much money you earn and how much money you spend. Start by listing your income from all sources. Then, list your "fixed" expenses -- those that are the same each month -- like mortgage payments or rent, car payments, and insurance premiums.
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Consolidation is nothing but the process of negotiating the rate of interest that will ultimately determine by how much the borrower's payments will be reduced and what his overall settlement will look like.
Many of these desperate consumers find themselves contemplating a bankruptcy filing, but bankruptcy can carry a legacy you will have to live with for years. A bankruptcy filing will stay on your record for a minimum of seven years, and you may find it difficult or impossible to obtain necessary credit in the interim.
A basic loan is the simplest form of debt. It consists of an agreement to lend a principal sum for a fixed period of time, to be repaid by a certain date. In commercial loans interest, calculated as a percentage of the principal sum per annum, will also have to be paid by that date.
Debt consolidation allows a consumer to present their financial case to a lender who may be willing to take on the burden of paying off debts in exchange for one monthly payment made to the lender.
Learn more ways to reduce debts today.
Why debt consolidation refinance is good for you
If you are like some individuals who are currently living from one paycheck to another and - though with a regular salary - can't seem to remember how they spent their last salary, then you may need a financial makeover. Better yet, maybe it is time for you to consider a debt consolidation refinance.
It gets rid of annoying phone calls
A debt consolidation refinance helps in eliminating harassments creditors make just for you to fork up that credit card payment. Also, a debt consolidation refinance basically consolidates every bill that you have and are paying for into one payment, usually per month, in an amount that is quite lower than what you used to pay. This is in order to alleviate any stress brought about by financial pressures. Saves you from bankruptcy
Believe it or not, debt consolidation refinance helps keep your finances from going bankrupt thereby helping you save your image as a consumer that is worth a credit.
When do you need a debt consolidation refinance? It is time for a debt consolidation refinance the moment you feel the economic crunch weighing on you, in the sense that the bills that come every month seem to becoming more difficult to pay.
Some people have expressed skepticism that you can actually negotiate with creditors using our strategy or other creative methods of reducing debts.
The main reason for this risk is that in order to secure a lower interest rate (and thus a cheaper overall payment rate), you'll need to present some sort of collatoral to back the loan.
The higher the score is the better looking your credit appears and visa versa. Many individuals or families with a large amount of debt have a low credit score; therefore, they are generally unable to receive loans or credit cards.
Credit card companies keep putting up new offers to lure more customers. These could range from getting a discount if you shop with them, a free gift etc. Do not fall for such offers. Just treat them as 'Not for me', because these are really not for you until you come out of your current debt.
There are a number of different types of debt consolidation loans: home equity loan, line of credit, or second mortgage.
A debt consolidation refinance saves you from having to pay high, if not outrageously ridiculous rates of interest and fees for late payment. These additional and truly unnecessary factors only add to your current difficult financial state.
Another sign that it may be a good idea to consider debt consolidation refinance is if the amount due you get to pay every month seem to always be the minimum that your monthly bills never seem to change much less decrease.
Why home-owners can get out of the debt consolidation refinance
There are benefits that debt consolidation refinance provide homeowners. One is that they have the fortunate opportunity to apply using their homes equity. Through this way, discipline is established in paying monthly consolidated bills, thereby avoiding new unnecessary bills from incurring.
Be aware though that using your house as a collateral isn't advisable, unless there is an intention that payments will be made using the new debt loan consolidation.
All in all, debt consolidation refinance is a good option when you seem to think you are running out of one. It saves you time, money and the stress of thinking up of ways to pay up without losing your shirt.
Another alternative is a Personal Loan or Debt Consolidation Loan. This is one large loan to pay off smaller loans or debts. With one large loan, you will normally have a lower percentage rate and a longer pay off period.
In a credit card debt consolidation, your average interest rate may be reduced. All your loans can also be transferred to one single card that has a lower interest rate than the ones you are currently paying.
Stop spending on things that aren't absolutely necessary. Each individual will have to define what "necessary" means, but it may mean taking a sack lunch to work, bringing your own coffee instead of stopping at Starbucks, and canceling that subscription to HBO.
Many people are looking to consolidate debt online because they're short on time and money. However, it's important to proceed with caution. Take the time to explore what's available and decide upon the best course of action for you.
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When a person seeks out a loan, he aims for the minimum rate of interest. The rate of interest he decides on will be fixed for the entire duration of his payment plan, so he must choose wisely the first time.
Many of these desperate consumers find themselves contemplating a bankruptcy filing, but bankruptcy can carry a legacy you will have to live with for years. A bankruptcy filing will stay on your record for a minimum of seven years, and you may find it difficult or impossible to obtain necessary credit in the interim.
Before a debt can be had, both the debtor and the creditor must agree on the manner in which the debt will be repaid, known as the standard of deferred payment. This payment is usually denominated as a sum of money in units of currency, but can sometimes be denominated in terms of goods. Payment can be made in increments over a period of time, or all at once at the end of the loan agreement.
For many Americans debt is an overwhelming problem, a stressor that can quickly take hold of one's life. When there are bills attached to house, boat, automobiles, college tuition, and daycare, it's not hard to imagine that many folks can quickly be swept under the current of spending which can unexpectedly whirl into deep debt.
Tips on how to consolidate your loans
Learn more ways to reduce debts today.
First things first, what is a debt consolidation loan. Basically, this type of loan is secured via a property and creates a new kind of loan that usually pays almost all your debt, thereby saving you necessary money as well as credit.
The following are easy, effective and efficient ways to consolidate all your loans.
Add them all up
It is important that all loans, credit card charges are put together and added up. This makes computation of all debts easier as it brings together everything that needs to be paid. Eventually, this makes paying easier to manage and record.
Check the rates
Interest rates for each credit card varies. Usually, the range goes anywhere between twelve percent to twenty one percent. Not only do credit card interest rates need to be checked but also all other loans incurred.
Go to a lender
Ask for the services of a lender. Try to contact a lot of lenders so you have a range of options to choose from. A list of lenders could be found in your local yellow pages. Or, better yet, ask for the help of your local agent in real estate as he may give you a referral. You could also go online and check for any lenders near your area.
All of the debt that an individuals owes appears on a credit report. Credit repots are used by financial institutions when a loan has been requested.
Your bank may be all too glad to lend you money to help you consolidate your debt. However, banks also charge application fees ranging from $50 to $200 or more per loan. In addition, banks make getting a debt consolidation loan difficult as approval for this type of loan is hard to get especially if your existing debt levels are high.
After you have contacted each creditor, you can start setting up a budget plan that will help guide you through the process of eliminating your debts. Start with a weekly budget plan and then work your way toward a monthly plan.
Find out how long it will take to become debt free and how much you'll pay in interest by making the minimum monthly payments.
Considering filing bankruptcy? If your finances are in ruins and you're considering filing bankruptcy, there's a few things you should know.
Choose the best for you
Lenders usually offer various rates of interest, loan length, loan amount, interest rate type, etc. It is up to your decision-making skills to determine the loan that will best serve your interests. Keep in mind though that the program you need for a loan will most likely depend on your income, credit as well as equity.
Fill the form, and read the fine print
After selecting the loan that is perfect for your needs, completely fill out the application form and provide all the necessary documents.
All copies of credit cards and credit card statements need to be given to the lender in order for them to pay off the necessary debt / charges. Be patient as the loan is being processed as the usual time it takes is about three to four weeks. Be warned though that any interests paid for loans and credit cards aren't deductible.
All in all, a debt consolidation loan will most likely reduce drastically the total amount you need to pay monthly as it also helps reduce the interest rates.
However you got into debt - unexpected financial difficulties, illness, loss of providing member of the family or overspending - you can turn to several organizations and charities for advice.
A debt consolidation loan is an option. But a debt consolidation loan might not be right for you. You might be able to consolidate debt, even credit card debt, with a remortgage.
The average American household carries almost $10,000 in credit card debt. When this is added to the mortgage and auto loan found in the typical home, the debt can become overwhelming.
The first step toward taking control of your financial situation, is to do a realistic assessment of how much money you earn and how much money you spend. Start by listing your income from all sources. Then, list your "fixed" expenses -- those that are the same each month -- like mortgage payments or rent, car payments, and insurance premiums.
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Debt consolidation mortgage information - 5 reasons to Refinance
Do you have high interest rate loans or credit cards? Is your mortgage rate higher than 8.5%? If you answered yes to either of those questions, then you need to refinance. Here are 5 reasons why you should refinance your mortgage now.
1. The mortgage rates are very low right now and this will not last. Do you remember when people were bragging about having a rate below 10%? Now everybody is bragging about rates under 5%. So if your rate is over 8.5% and especially if it is in the double digits, you could be saving thousands of dollars on your mortgage.
2. If you have high interest loans or credit cards you need to refinance right away. It may seem like you are not accomplishing much by refinancing and paying off your high interest loans or credit cards, but you are saving so much money. It can take up to 25 years to pay off a $5,000 credit card balance at a rate of 15% or higher. This is very true if you pay the minimum payment. Plus you will end up paying thousands of dollars in interest over that period. Paying this off over the same amount of time at a lower rate will only save you money.
3. If you want to add value to your home with a sun porch, finishing a basement, or adding on a room. Contrary to popular belief, landscaping, new carpet, new paint, wallpaper, and other furnishing do not add value to your home. The only thing that really adds value to your home is adding square footage of living space. You can refinance your mortgage and add a room, a sun porch, or finish your basement to up the value of your home.
4. Refinance your home to take a dream vacation. Yes, this is not as important as some of the other reasons to refinance, but you only live once so if this is what you want to do, then go for it. There is nothing wrong with using your assets to do things for yourself.
5. Refinance to put a down payment on an investment property. This is probably one of the best reasons to refinance. You can use the cash you get from your equity to put money down on a rental property. Owning two homes instead of one is a great investment. There is a lot of money to be made in real estate and it is a great investment towards your retirement
There you have it. Five great reasons to refinance your home, and there are more. Any reason you can come up with to use your assets to your benefit or for something you really want is a good reason to refinance. You should start with getting a few online mortgage quotes and comparing deals. This will give you an idea of what you are looking at.
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Get your online quote now. Go to the following website.
http://www.ready-repair-my-credit.com/refinance.htmOnline Refinance Mortgage Quote
Learn how to get a great mortgage regardless of your credit. Get more information here:Mortgage Secrets
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Are you sinking amidst a large number of debts? If yes, you can realize the pain and burden. All the time you think about the ways through which you can get rid of debts. With the proceeding of time, it becomes a nightmare for you. To tackle such debts, a person should always be prepared with solutions, which could help him in the long run. Featured with different distinct facilities, debt management is one such solid solution which is specially made to fulfill the requirements of all those, who are sinking in debts and are seeking quick assistance to get rid of it.
With online debt management, a borrower can easily manage all his debts in a proper way. It guides a borrower in starting a new credit habit, improving finances, upgrading his credit score etc. By working directly with your creditors, a debt management program generally helps you lower your interest rates, eliminates late fees and reduce filling up long application forms. All these services are available to you by an online method, which is fast to access and inexpensive to use.
Let's see what are the methods included in a online debt management program. Generally, it consists of debt consolidation, debt negotiation, debt elimination, debt counseling, debt management tips etc. Debt consolidation is a process with which you can consolidate all unpaid debts into one single manageable debt. Consolidation of all debts ultimately helps the borrower to manage debts, a major goal of online debt management. You can opt for debt consolidation through loans, credit cards, re-mortgage etc. Debt negotiation, another important technique of online debt management is all about a negotiation that takes place between lenders and borrowers regarding all debt related matters.
With debt management tips and debt counseling, you can get valuable information and the methods through which you can easily maintain and balance your debts in the future. You can learn about improving your finances and credit standing through online debt management.
Online Debt management is what makes you updated regarding every possible assistance of debts. However, very often, situations arise when you cannot work over debts because of shortage of time. In this regard, online method of searching debt management could help you a lot. Online debt management is featured with prompt service, quick feedback and easy accessibility, which makes it unique and beneficial in all of its aspects.
So, what are you waiting for? If you are in need of debt management help, just click online and get inputs regarding everything you seek. However, it will be too early to think about any sudden change to your credit balance. Because it takes time to maintain a good record of your credit balance. With the proceeding of time, you will get a chance to maintain your debt reasonably and think of a better credit score. Surely, a better solution for a better tomorrow.
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Does it really make sense to take debt consolidation loans and merge your multiple debts into one loan? Doesn't it look like nothing more than undertaking another debt obligation? Truly, in a superficial level debt consolidation loans appear to be adding one more debt to the already existing long debt list. But proper knowledge about these loans will let you know that debt consolidation loans are the best way to resolve your debt problem.
Through a debt consolidation loan you can take out a reasonable amount of money. With this amount you can pay off your entire or, at least, most of the debts. The debts you will consolidate should be those with high interest. So, at once you will get rid of high interest. At the same time you will be given a longer repayment term. Both low interest and long repayment term will keep the repayment instalments small.
Besides, you have to deal with only one loan and single lender. The hassle of making multiple payments to different lenders will not be there. You can keep track of the loan easily. You will start saving some money each month which, otherwise spent in making the repayments only. There will be no irritating phone calls from your lenders, asking you to clear the instalments. Above all, you can save your credit score from getting bad.
Provided with all these facilities, you can certainly clear the monthly repayments regularly. In course of time you can pay off the entire amount solve your debt problem. So, will you not agree that debt consolidation loans does not increase your debt burden, rather help you to resolve it?
About the Author
The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting onlineunsecured loans as a finance specialist.
For more information please visit: http://www.e-secured-loans.co.uk
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It is not for nothing that you sweat your brow to be a homeowner. Once the hassle of getting on to the property ladder is over, your happiness is multiplied. At the same time you achieve the capability of taking secured loans, the most cost-effective means of cash flow during the time of dire financial need.
Secured loans are loans offered against the home of the borrower. In this type of loan, the home of the borrower works as security for the loaned amount. This means that the lender can take possession of the home to retrieve his money in the event of borrower's failure to pay off the loan. This fact eliminates the risk of the lender and he offers the loan at low rate and with flexible terms.
In order to take out a secured loan against your home you need to have reasonable amount of equity available in it. In fact, the higher the equity available in your home, the bigger the amount you can borrow. However, it is not recommendable to borrow more than you need or more than your repayment capability. After all, the loan is taken against your home. In case you fail to pay off the loan, you have to lose its possession.
The interesting thing about secured loan is that you do not lose your right of living in the home while you offer it as security for the loan. You can live in the home as usual, only you have to hand over the possession of the home if you fail in repaying the loan within the stipulated time span.
About the Author
The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting onlineunsecured loans as a finance specialist.
For more information please visit: http://www.e-secured-loans.co.uk
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Life is wonderful if everything moves according to the plan and up to the expectation. Alas! It is not so. Surprises and shocks rule it making us sometimes annoyed and very often depressed. However, it does not imply that we should give up all our efforts and wait to be destined by the law of life. Every time we should be ready to face every situation and our efforts should be characterized with strategic planning and ideas, like opting for bad credit bridging loan to meet cash shortages during large property purchases. And it is best for those people who are suffering from bad credit history and intend to buy any property.
Bad credit bridging loan are meant for those poor credit borrowers who want to buy a new property without selling the existing one. Here, the term 'bad credit' implies those borrowers who are suffering from poor credit history, including CCJs, defaults, IVAs etc. Thus, bad credit bridging loan is opted by poor credit holders who want to buy a new property.
Generally, in a bad credit bridging loan, a borrower needs to place collateral to avail the loaned amount. It is generally the property of the borrower, which acts as a security for the amount. The property could be in the form of house, real estates etc.
You can opt for a bad credit bridging loan at a reasonable amount of money. It the property and its value, which will ultimately decide the amount of sanctioned money. If utilized well, bad credit bridging loan can provide you a large number of benefits. But be aware of the fact that it is a short term loan, which involves a higher rate of interest.
Now, if you are thinking about how to access bad credit bridging loan, there are many options around. You have different banks, financial institutions or lending organizations all around you that offer bad credit bridging loan. They claim to deliver better service. But to avail their facility, you need to stand in the long queues, for unlimited hours and fill up unending application forms. Now think something fresh and different. Think something, which not only claims, but also delivers better service and prompt solutions. It is World Wide Web. Just click and get close to your goal. Here you will get flexibility of choosing innumerable lenders, applying quick and getting secured datas on bad credit bridging loan.
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Turk Malloy works as financial advisor in Easy-bad-credit-loans. He is offering loan advice for quite some time. To know more about bad credit bridging loan, easy bad credit loans, bad credit personal loans, bad credit unsecured loans visit http://www.easy-bad-credit-loans.co.uk/
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For tenant or non-homeowners a loan does not usually come easily as lenders see them as potential risks and if the borrower has bad credit then the loan is harder to come. However if certain conditions are met, taking a poor credit unsecured loan is in fact easier than is thought. Also remember that with larger number of people being labeled as bad credit, lenders have no options but to provide loans to remain in the business.
The only concern of lenders in offering poor credit unsecured loan these days is that you have a sufficient repaying capacity or not. Once the lender is satisfied that you are in a good position of returning the loan installments in a regular manner, he will approve the loan amount in most of the cases. So just prove your repaying capability. For doing so you should produce documents of annual in come, financial standing if any, bank statements and employment if lender asks for them. But remember that while looking for repaying capacity, low interest lender would see as to how much money you have per month left with you for paying poor credit unsecured loan installments after meeting regular expenses and payments towards previous loans if any.
So poor credit unsecured loan will be more surely approved if the loan amount asked is well within your actual repaying capacity. Usually lenders approve smaller amount of up to ?25000 as poor credit unsecured loan. One advantage for the borrower is that poor credit unsecured loan is fully risk free. You are not required to place collateral for poor credit unsecured loan. The interest rate however is slightly higher as lenders have to cover the risks. Poor credit is because you have been defaulting on payments and therefore your credit score has slumped below 600. Take a copy of your credit report and correct any error or misrepresentation of facts as this may have lowered credit score unfairly.
You can source poor credit unsecured loan from variety of lenders but online lenders are more advantageous. Online lenders do not take a fee for processing loan and can approve the amount in time. But before applying to a particular lender, compare various poor credit unsecured loan offers and see which has comparatively lower interest rate for you.
It can be concluded that an unsecured loan is a possibility for you on meeting certain conditions. The loan is also an opportunity for improving credit score as you clear loan installments in time.
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Maria Smith has not been writing articles from the beginning. But the increase in perplexing loans information has urged her to write on different loans types. To find a Unsecured loan, poor credit unsecured loan, secured home improvement loans in uk at low interest that best suits your needs visit http://www.loansfiesta.co.uk
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Remortgage is a method, by which a borrower can replace his present mortgage with a new one. You can avail remortgage program from a new lender or your current lender. If you are paying high-interest rate on your present mortgage, remortgaging can give you the right solution. And in case, if you have a bad credit score, you can avail bad credit remortgage.
Generally, bad credit remortgage program is same as general remortgage. But the distinct part is that it is designed for bad credit scorers. All types of cases including country court judgment, IVAs, bankruptcy, defaults, arrears, skipping payments, and late payment are included in bad credit remortgage.
Bad credit remortgage can be beneficial for borrowers. How? Let's discuss its advantages: *It enables borrowers to save money. By replacing the present mortgage with a new one, a borrower can enjoy the benefit of lower interest rate. It increases the probability of saving money. It can be said, since, with this option, a borrower get rid of paying a higher interest rate, hence borrowers can save up to ?100- ?200 on their monthly payment.
*The possibility of lower monthly payment has enhanced the popularity of bad credit remortgage among borrowers. Furthermore, borrowers can get a chance to expand their repayment period. Let's discuss the process. Suppose, a borrower has taken mortgage for 10 years and he has completed only 5 years. Whereas, the borrowed amount is ?40,000 and ₤20,000 has been paid off. Remortgage will assure the borrower to expand the loan period again for 10 years on the remaining amount.
*remortgage is also considered as the best alternative of debt consolidation. borrower can solve their debt dilemma with this option. They can manage their debts by consolidating all debts into one. Many a time, it is seen that homeowner consolidate their debts through remortgage.
*With bad credit remortgage, a borrower can repair his bad credit score as well. After opting for bad credit remortgage, if a bad credit scorer makes his monthly payment on time, after few years, he can come out of his bad credit score. Apart from that, borrowers can improve their financial condition, as remortgage facilitates them to unlock the equity in home.
Bad credit remortgage enables bad credit scorer to replace their present mortgage with a new mortgage that is available at a lower interest rate. A bad credit scorer can enjoy the benefit of lower interest rate and lower monthly payment with this option. In addition, bad credit remortgage provides them a chance to eradicate their bad credit score.
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Turk Malloy works as financial advisor in Bad Debt Remortgage. He is offering loan advice for quite some time. To know more about bad credit remortgage, remortgage quotes, remortgage quotes UK, problem remortgage, adverse remortgage, bad debt remortgage visit http://www.baddebtremortgage.net/
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It is absolutely true, that it's very easy to get in debts and but difficult to get out of it. Usually, the common reasons of getting into the trap of debts are spending lavishly and usage of credit cards. But, what will the person do when his debts are mounting high and are very difficult to handle. Fortunately, debt consolidation loans can tackle the debt problem appropriately.
Debt consolidation loans, is a way to handle and solve the debt problem. Due to its increasing demand, most of the financing company provides debt consolidation loan on competitive rates.
There are two types of debt consolidation loans, which are secured and unsecured debt consolidation loan. In secured debt consolidation loan, the borrower is required to place collateral and in unsecured debt consolidation loan, there is no need to place collateral. However, if a comparison is made between them, then both are good in their own way. But, it is seen that, in secured debt consolidation loan better rates are offered. Along that, it also carries risk of repossession on the asset. On the other hand, unsecured debt consolidation loan carries comparatively high rates but no risk on the asset is involved.
Debt consolidation loans, is taken for consolidating debts; it may be personal, business or credit card debts.
The lender in debt consolidation loan merges all the debts of the debtorinto a single debt. This as a result, the borrower is left with the single monthly payment to the lender rather than making multiple payments to the creditors.
Debt consolidation loans are available to both good credit scorers and bad credit scorers. However, good credit scorer's takes advantages over bad credit scorers as low rates and longer repayment period is offered to them.
Comparison is one of the crucial ingredients for availing the competitive loan deal. It must be done on the grounds of the total cost and its terms involved. And, that deal must be finalized which offers low cost and favorable terms. The task of comparing is little time consuming but it becomes simpler and easy, by means of internet, just by a single click; because majority of the online lenders provide comparison calculator through which it is very simple to compare.
Therefore, debt consolidation loan not only makes the borrower debt free, rather also helps in improving the credit score.
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Renita Vaughan is working with Find Loans UK Residents. She has a master degree in Business Administration and expert in financial advice. She writes about various finance related topics. To find loans uk residents, Debt consolidation loans, Bad credit payday loan, Online payday loan service visit http://www.loansukresidents.co.uk
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 Quebec Separating from Canada?
Canada Separate from Quebec?
Most times I try to stay away from blogging out side of the topic of money.
Today I was listening to www.cbc.ca.
The talk show was about Quebec becoming their own nation.Living in Saskatchewan, I don't know the Quebec population very well. With the few dealings I've had with them, I know that their laws are structured differently in some cases than the rest of Canada.
The people that I've talked to in Quebec have all been friendly and nice to deal with.
My point from a financial point is this: Instability in a nation is bad for its economics.
The First Nations people have their own nation. It causes nothing but more complexity. Newfoundland would like to become their own nation. Technically Newfoundland is in their own separate geography away from Canada.
Every province in Canada is unique and has their own good points and bad points. We have made it a point to live together and work together. I can't see the point of Canada splitting apart.
Quebec as it's own nation would alienate eastern Canada from Western Canada. And on and on.
Dear Quebec.. Please stay with Canada.. We love you as you are!!
Canadian Money Advice: A country divided doesn't do as well financially as a whole, unified country .
I'm interested in all other Canadian comments on this matter.
Please speak your opinion here about Quebec leaving Canada.!!
Thanks CBC radio for letting me know about this.
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I was reminded of my sisters christmas gift when I read http://ncnblog.com's post about giving money to charities.
GIVE MONEY TO PAN HANDLERS?
Traditionally I have been against  , street people and pan handlers. Sensing this, my sister has instructed me for the last several years that she doesn't want a christmas gift from me. Instead, she wants me to give my $35 gift to street people, beggars and pan handlers.
My sisters instructions are, "If somebody comes up and asks you for money or change, give them what ever is in your pocket, to a total of $35.00." At first I hesitated, but then I said, it's her gift!
I REACH INTO MY POCKET AND GIVE IT AWAY.
 For the last few years if somebody comes up to me and asks for money, I am automatically obliged to give them the change in my pocket. I don't think about it, I just give it.
Being self employed and a self starter I would previously have always said NO! My logic was that, "I have been working seven days a week building my business, and I make my own breaks." "Why would I give to these people who are asking me for money?! Don't these beggars know that they could start a business like me and earn their own money?"
What I didn't factor into the equation was the Joy of Giving!
After doing this for a while, I realized that people are people and some of them are genuinely down on their luck. They need a hand up. That reminded me that people have given me a hand up in different ways along the years in my business.
One time I had no change and had some $20 bills. A fellow came up and asked me for money. I immediately reached into my wallet and gave the fellow $20. No questions asked. The fellow almost started crying. He couldn't believe his luck for that moment. I was very moved by that moment. My previous belief that beggars were scum was limiting my personal growth.
LESSON TO BE LEARNED. GIVE IT TO BEGGARS
I challenge the readers of this blog to do the same. Giving away $35 per year to beggars is the equivalent of 10? per day. If you give you money away quickly you're good for the rest of the year.
As they say, to give is better than to receive. As I am starting to learn, to give with a generous heart with the intent to help somebody and make their day, is very thrilling and rewarding.
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Canadian Capitalist's Blog is having a contest.
Canadian Capitalist's Blog Contest
There seem to be few other blogs in Canada that talk about personal finances. Canadian Capitalist's Blog is celebrating his second anniversary. Congratulations!
Do take a moment and visit his blog to enjoy it, and also enter his contest for two free hard cover books. personal finance
Canadian Bloggers come and visit. If you're a Canadian who has a personal finance blog, we want to hear from you!
Subject:
Canadian, Canada,
Personal Finance, Money, Financial
Blog Blogger Blogging
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 Pay day loans are a hot topic for some Canadians
Pay Day loans are becoming more and more popular in Canada. I would be interested to hear from people who have experienced using pay day loans for their personal finances.
Talk about Canadian Payday loans canada
Group Protests at Payday Lender's Shareholder Meeting - US Newswire
Group Protests at Payday Lender s Shareholder Meeting - U.S. Newswire
16 Nov 2006 at 8:38am
Group Protests at Payday Lender s Shareholder Meeting U.S. Newswire (press release), DC - Nov 16, 2006 is one of the largest payday lenders in the US and is the largest payday lender in Canada, where approximately half of all the country s payday loans are made
Cash Now Announces Its Intention To Begin Offering - Yahoo! News (
15 Nov 2006 at 8:07am
Cash Now (CHNW) Announces Its Intention To Begin Offering Yahoo! News (press release) - Nov 15, 2006 infastructure for payday loans and micro loans is relatively a pioneer in the Internet payday loan, and venture locations across the US, Canada, Australia, and
Grassroots financial centre an 'oasis' from payday lenders - CBC Mani
Grassroots financial centre an oasis from payday lenders - CBC Mani
16 Nov 2006 at 6:27pm
Grassroots financial centre an oasis from payday lendersCBC Manitoba, Canada - Nov 16, 2006 "I used to use the payday loans a lot "Payday lenders, cheque-cashers, pawn shops, they re very common now in is the first of its kind in Canada, adding that loan
 Dealing With The Daily Grind Chief Operating Officers For - FranchiseUpdate
14 Nov 2006 at 7:38am
Dealing With The Daily Grind Chief Operating Officers For FranchiseUpdate - Nov 14, 2006 a whopping 75 percent--by introducing key programs including payday loans, check cashing Colors franchises operate in the United States, Canada, and Puerto Rico
Cap sought on rate charged by payday lenders - ChronicleHeraldca
8 Nov 2006 at 4:00am
Cap sought on rate charged by payday lendersChronicleHerald.ca, Canada - Nov 8, 2006 The Cash Store isn?ta member of the Canadian Payday Loan Association, whose members include about 850 of 1,350 payday loans stores in Canada.
From usury to URB - ChronicleHeraldca
14 Nov 2006 at 4:10am
From usury to URBChronicleHerald.ca, Canada - Nov 14, 2006 which make tiny, unsecured self-employment loans to poor interest rates are often far higher than in Canada. Like payday lenders, they are labour intensive.
Cash Now Announces A New Quicker Loan Funding Process - PR Newswire (p
24 Oct 2006 at 2:07pm
Cash Now (CHNW) Announces A New Quicker Loan Funding ProcessPR Newswire (press release), NY - Oct 24, 2006 it will be able to process more loans and do CHNW.PK), a pioneer in the Internet payday loan, and joint venture locations across the US, Canada, Australia, and
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Solid finances can keep this bubble from bursting Globe and Mail, Canada - Nov 16, 2006 to log in to multiple instant messaging networks) using their credit cards and a of money -- with fewer strings attached -- from the Canadian group Ventures
 That's an interesting statement. Even if Canada has a huge amount of debt, Canadians can do their part by paying down their own debt, and putting savings away on a regular basis.
The worst thing is for everybody to be worrying about their finances all the time. Canadian Consumer debt is at an all time high. This could potentially cause massive amounts of people to panick and do things such as declare bankruptcy etc.
MONEY SAVED MEANS PEACE OF MIND FOR CANADIANS
Canadians putting away money on a regular basis will give everybody more peace of mind.
Canadian con artist jailed - Malaysia Star
16 Nov 2006 at 6:19pm
Canadian con artist jailed Malaysia Star, Malaysia - Nov 16, 2006PENANG: Canadian circus performer Martin Ivach was jailed a total of 41 years by a Sessions court for 19 counts of possessing forged credit cards and blank Canadian citizen pleads guilty of credit card forgery in Malaysia People s Daily OnlineReport: Malaysian court jails Canadian man on forgery charges Canada.comyears jail for having forged credit cards New Straits Timesall 15 news articles
When Canada gave the economist a try - Globe and Mail
17 Nov 2006 at 3:35am
When Canada gave the economist a tryGlobe and Mail, Canada - Nov 17, 2006 Something as seemingly simple as the widespread use of credit cards has confounded on inflation targeting was a turning point for Canadian monetary policy and
Holiday Budgeting - Divine
14 Nov 2006 at 11:03pm
Holiday BudgetingDivine, Canada - Nov 14, 2006 parties, gifts, family gatherings, Eggnog, and potentially maxed-out credit cards. According to the Retail Council of Canada, the average Canadian spent $1,357
Police reports - Middletown Journal
17 Nov 2006 at 2:22am
Police reports Middletown Journal, OH - Nov 17, 2006 A Canadian man from Ontario reported a wallet, digital camera and a Florence Street The wallet contained a checkbook, personal identification and credit cards.
New Study Shows Many Canadians Demonstrate Troubling Financial - Emediawi
13 Nov 2006 at 7:07am
New Study Shows Many Canadians Demonstrate Troubling Financial Emediawire (press release), WA - Nov 13, 2006 to paycheque, and that they always use credit cards for basic living expenses such as groceries and gas. The study of 1,002 Canadian adults, performed in
Solid finances can keep this 'bubble' from bursting - Globe and Mail
16 Nov 2006 at 8:01am
Solid finances can keep this bubble from bursting Globe and Mail, Canada - Nov 16, 2006 to log in to multiple instant messaging networks) using their credit cards and a of money -- with fewer strings attached -- from the Canadian group Ventures
Canadian Tire third quarter net earnings rise 131% to $954 - Canada New
9 Nov 2006 at 10:31am
Canadian Tire third quarter net earnings rise 13.1% to $95.4 Canada NewsWire (press release), Canada - Nov 9, 2006 For example, a customer who fills up with gas at Petroleum s gas bars and uses Canadian Tire credit cards, spends considerably more at Canadian Tire stores, on
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I did a post here about Getting a Bowflex to repair your credit?
Mythbusters, MDG Direct, Bowflex Canada
I was watching my favorite show Mythbusters on the Discovery Channel and of course I had to be bombarded with commercials for the whole show. Mythbusters with Adam Savage and Jamie Hyneman is about the only show that I won't channel surf during commercials.
 The problem I have with the MDG Direct commercials and Bowflex commercials is not about the product or the concept of their product. (I don't own a bowflex or MDG Direct product.) The problem lies in the cost and complexity of the financing.
I try to read the financing terms each time I see these TV commercials. I've seen these MDG Direct and Bowflex commercial at least 100 times each.
I can never read the small print . I did notice that what they were offering on the surface was for people with good credit.
COMPUTERS OR INTEREST REVENUE?
Is MDG Direct really about selling computers. Or are they the interest revenue that they receive from selling the computers?
 It seems that these companies are actually in the product sales/financing business. They make money from the selling the product, the shipping and handling costs, and as well, the financing interest costs.
I don't have a problem with that. I think that their marketing is brilliant. They're giving their customers the convenience of purchasing computers and exercise equipment from the convience of home.
IS 21% interest WORTH THE CONVENIENCE?
If you pay 21% per interest on a $3000 loan from BowFlex for example, you'll pay upwards of $600 interest in the first year. That's $1.50 per day, or $49.50 per month in interest charges alone.
You have to ask yourself if the convenience of buying that convenient product is worth those kinds of financing charges. Realistically you could purchase a membership at your local YMCA Canada for $49.50.
I have every confidence that the products from MDG Direct and Bowflex are of the highest quality. I thought that I should take the time to illustrate the cost of convenience from buying computers and exercise equipment on T.V.
UPDATE: As we're closing in on Christmas time, I can see Bowflow really stepping up their marketing for the Christmas season. They even got their new product which looks like a rowing machine.
Be careful spending money on expensive Bowflex gifts especially if you're short of cash this Christmas season.
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I spent a few hours today looking for Canadian blogs that deal with money and finances. My goodness.. they're pretty scarce.
I want to invite any Canadian blog writers who blog about personal finances, investments etc to come by and drop us a link to your site.
I want to build a good resource of other money / financial discussion sites that are based in Canada.
If you're a:
- British Columbia Financial Blogger collection agency
- Alberta Money Blogging
- Saskatchewan money discussion forum
- Manitoba Financial Blog
- Ontario Financial Blogger
- Quebec Financial Blogging
- Newfoundland Financial Blog
- Nova Scotia investment Blogger
- New Brunswick collection agency Blogging
- Prince Edward Island Financial Blog
- Canadian Money and finance Blogger from Canada
want to hear from you. (Please pardon the gratuitous use of key words.)
Sometimes it's just best to put a post out and ask people to come and visit.
I believe that the more bloggers and writers we get writing about money in Canada, the more people will learn and the better off everybody will be.
Also notice that I've put a bunch of resource links on the right bottom menu. These are resources to provincial governments consumer protections, Canadian Federal Government Regulatory bodies.
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 From time to time we have people, who don't appreciate credit repair, come and visit us. One or our under educated visitors spent a great deal of time trying to dispute items that are posted on this site.
Everyone has their opinion about things.
PROVE ALL THINGS.
If you're wary about anything that is posted on this site, please consult with your local Justice Department - Consumer Protection to prove what we're saying. Don't take my word for it, please take the time to consult the authorities.
Credit repair and dealing with collection agencies in a more controlled and intelligent sense is relatively new in Canada . We are daring to expose the financial system a little.
The more educated we are on the topics of finance, the better off we'll administer our finances.
Again... although it's alot of work and time consuming, I encourage people to prove all things. Use this site as a part of the study tools with all of the excellent information that is posted here.
However, if you're concerned about your finances, do take the time to contact the regulators of all of the financial acts and get the information straight from the source!
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I just received a call from a lady in Ontario looking for CBCL Collection Agency. She was complaining that CBCL was calling her cell phone with an autodialler.
The autodialler would call her cell phone, and then the message would say, "Please wait for an attendant". But then the autodialler would hang up, not leaving any return contact information.
This lady mentioned that CBCL has contacted her several times like this.
I believe that collection agencies supposed to pay all toll charges if they're collecting. IE.. they 're not supposed to call somebody's cell phone.
RE: CBCL Collection Agency in Canada.
Please note again: We only talk about companies etc. We're not a 411 dispensary of phone numbers. All though, in this case CBCL Collection Agency in Canada. Phone Listing should be plastered all over this website.
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Oh my goodness! I just noticed this article: Bowflex- I had been trying to establish credit for a while
11/3/2005 - Ashley writes:
I had been trying to establish credit for a while now when I seen the bowflex comercial! I called and they gave me a credit limit of $1500! I was thrilled! Not only could I enjoy a workout I had credit! I pay $28 a month but If you are late you are charged an extra $35! Well thats ok I guess but one day I noticed the pay off was now over $1700 and haven't had it over a year! In the begining the bowflex only cost $1500! My husband called them and asked what the problem was! The interest! Out of $28 dollars, only $3 go the the bill the rest is for interest! So if you add it up it could take me years to pay it off and I will have payed over $15,000 dollars for this thing!Its a ripoff to pay that much for this bowflex!Now I can't do a thing about it! I either pay $15,000 for it or I can have bad credit! I'm screwed either way!The company never said anything about this!!!!!!! Sincerely Pissed off
My recommendations:
- Get a bowflex to exercise and get fit - NOT to establish credit.
- Get a copy of the contract, from Bowflex, and read it before you buy.
BowFlex.ca Financing details 25+% says the following:
90-Days Same as Cash
To qualify for 90-days same as cash, you must apply for a Nautilus? credit card, by doing so you are applying for a revolving credit card from HSBC Bank Nevada, N.A. No Finance Charges if purchase paid in full in 90- days. If purchase not paid in full or Account not kept current, accrued Finance Charges assessed from purchase date. Standard Rate of 21.8% APR. Default Rate of 25.8% APR . Minimum Finance Charge $1.00. Certain rules apply to the allocation of payment and Finance Charges on your promotional purchase if you make more than one purchase on your Nautilus? card. Call 1 (888) 367-4310 or review your cardholder agreement for information.
equifax credit repair
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There is a good discussion on credit repair on this credit repair thread
A common error that I've seen alot on my own credit report as well as my clients credit reports is as follows:.
DUPLICATE TRADE LISTINGS
When I received my TransUnion Canada credit report, I noticed that I had 3 duplicate records listed.
Example Listed twice:
CIBC Visa Acct xxxx
Limit 10,000 - Balance $4,500
CIBC Visa Acct xxxx
Limit 10,000 - Balance $4,500
This will lower your credit score as it says that you've got $20,000 worth of credit available when in fact you've only got $10,000.
This type of error is quite common with Equifax and TransUnion credit reports.
I had three of these duplicates on my own credit report. After these duplicates were deleted, my credit scores went up dramatically.
These are the types of inaccuracy's that the credit bureaus cannot hand verify on all of the millions of credit reports and credit items they administer. CIBC
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TransUnion Canada
Glen Dixon made a great point on this thread Trouble Getting TransUnion Credit Report? about TransUnion Canada and Equifax Canada not giving out credit scores included with FREE mail requests along with your credit reports.
 I would be interested to hear about your experiences with trying to obtain your TransRisk credit score from TransUnion and/or your Equifax FICO score from Equifax Canada.
Currently the only way you can get your credit scores is to purchase them online at Equifax Canada Credit Score and TransUnion Canada Credit Score websites.
It bothers me that these crucial pieces of information are not provided free and/or regulated by the Federal or Provincial Governements in Canada.
Once again, we would be interested in your opinion about credit scores in Canada.
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 HAVE YOUR ORDERED YOUR CREDIT REPORT FROM EQUIFAX CANADA AND TRANSUNION CANADA?
We need to talk about this over and over until most Canadians get the point about ordering their credit reports from credit bureaus.
Many times when I ask people if they've ever seen their credit reports they're not sure what I'm talking about. They've wondered what the credit bureaus have reported about them but haven't given it much thought.
GET YOUR CREDIT REPORT FREE BY LAW
By law, you can receive your credit reports from BOTH Equifax Canada and TransUnion Canada for FREE. You must write in requesting them. I've explained how to get your free credit reports HERE.
Who is TransUnion Canada?
GOOD CREDIT OR BAD CREDIT?
I should mention again that every one needs to order their credit reports regardless if they've got good credit or bad credit.
I've talked to several people who have perfect credit but still have errors on their credit reports, NO FAULT OF THEIR OWN!
THE LAW REGARDING CREDIT REPORTS
By law everything on your credit reports MUST BE accurate, complete and verifiable. Otherwise the credit bureau must correct or delete the inaccurate item. equifax canada
This law is pretty closely the same with each of the Canadian Provinces.
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I received another email from a visitor who has found the information on this site helpful and valuable.
The reader took the time to contact me by phone and explain her situation. She mentioned that she was getting hounded for a 10 year old debt by a collection agent by the name of "Mr Lando".
She then contacted Consumer Protection who had NO RECORD of any person registered with that name.
This is a case of a collection agent who is not representing himself properly and is probably engaging in collection activities while not being properly licensed with the province.
ALWAYS ASK FOR PROOF THAT THE COLLECTION AGENT IS LICENSED IN YOUR PROVINCE.
That's why I always tell people to ask if the collection agent for proof that he/she is licensed in their province. If the collection agent is not licensed, their phone call to you is illegal and should result in the consumer complaining in writing to their respective Consumer Protection office.
I appreciate this lady (who asked to remain anonymous) taking the time to write me with what she is doing and the progress that she is making!!
Taking action and sticking with it is the name of the game.
Hello Monty,
It was pleasure talking to you.
Further to our telephone conversation the phone numbers for this person who goes
by the name of Mr. Lando are:
(416) 790-2729 Fax (416) 753-7570
For your information, I contacted the Ministry of Government Services who
regulate Collection Agencies and was informed that they do not have a person or
party by the name of Mr. Lando, registered as a licensed collector with CBCL.
For your information, I contacted CBCL was advised that there is a
person by the name of NLANDU NDOMBASI who works at CBCL. I assume he is one and
same person as Mr. Lando.
I hope this information is helpful.
I will keep you posted.
Regards,
M
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I got this very important email from a member and thought that I should take a few moment to reply publicly here. These points are well written and reflect the feelings of most Canadians.
MONTY LOREE'S STORY
WIth relation to credit repair I started my journey in 2001 when I had a collection agency call me up regarding a bill that was not legitimately due payable. Because of this incident, the collection agency (D&A Collection Agency of Calgary) falsely put a collection item on my credit bureau.
As a business man I was furious and felt completely frustrated with the whole process of trying to straighten the matter out.
A client of mine from Texas who is in the credit repair business told me that he could easily get the collection items removed from my credit report. I was skeptical but said OK, and gave him a copy of my credit report.
6 WEEKS LATER, THE COLLECTION ITEM WAS OFF MY CREDIT REPORT!!
I was dumb founded. I had written letters to the creditors and collection agency. I had written letters to the provincial government. I had worked on getting that bogus collection agency listing for close to a year with no results.
Was my credit repair client just lucky in removing my collection agency item? NO.. he was a skilled credit repair individual who had been working with equifax, transunion for years prior and knows how they work. He's a very diligent and nasty person when he needs to be.
Over the next three years I did work for the fellow in Texas and stayed in touch with him. He kept telling me that I should get into the business because he keeps getting calls for credit repair from the website we built for him.
EXPRESS CREDIT REPAIR WAS BORN
In 2004 we founded Express Credit Repair and our site was the first credit repair site in Canada listed on Google.
We received hundreds of people signing up and asking for our help. People who were desperate to get their credit fixed. Many who had legitimate problems and misreporting on their credit reports.
We took on a few clients at the beginning and told them what we were up against.. Quite frankly, most governments that we spoke to hadn't heard about credit repair and didn't really know how to deal with it.
GOVERNMENTS DON'T KNOW ABOUT CREDIT REPAIR
The governments main comment was that they didn't get many complaints regarding collection agencies or credit reports so they didn't think there was a problem.
The laws and legal precedent are well developed for creditors, collection agencies etc who have the time and capital to sue the debtors. The law is heavily weighted to the creditor in Canada.
With Express Credit Repair we brought the problems to the attention of many of the Consumer Protection Agencies. At the same time, being a business, we needed to help people get their credit fixed before we could make a profit at it.
I spent the better part of a year writing letters on behalf of our clients and getting them caught up in the red tape of the government system.
REGULATORS DIDN'T KNOW HOW TO REGULATE CREDIT REPAIR
The government agencies I dealt with were slow and indecisive about dealing with credit repair issues because they weren't trained at all in this field. I spent countless hours on the phone with consumer protection agents explaining to them why items were incorrectly reported on credit reports.
These agents then had to go to their bosses who then had to be trained on credit repair issues.
The year that I spent vigorously practicing credit repair was not profitable cash wise, however it was fruitful in that we started to see a little change in how credit repair was being handled by the Consumer Protection Agencies etc.
MORE PEOPLE NEED TO COMPLAIN - IN WRITING
The letter below spells it out nicely.
- Credit reporting agencies and collection agents are regulated provincially, and each province have their own laws
- These laws are called "Credit Reporting Act ( or similar) and the Collection Agencies Act.
- Nova Scotia DOESN'T have a law regulating credit reporting agencies. (Very Scary)
The Credit Report Act and Collection Agency Act haven't been well exercised by the consumer at all in Canada. People need to complain more about what is happening to them.
THE PURPOSE OF THIS CANADIAN MONEY ADVISOR WEBSITE
The purpose of this website is to give people a place where they can talk about their experiences with all types of financial institutions in Canada. To my knowledge this is the first site on the net where you can talk about TD Bank, CBCL Collection Agency, GMAC or any other specific company.
After stopping practicing credit repair, I put up this website to help Canadians start the process of getting into better control of their finances. Giving them a better peace of mind with their financial dealings.
The Credit Industry is so complex that it takes lawyers to figure everything out. The credit companies massively promote credit as a MUST HAVE PRODUCT, but then get mad when the average person messes up and isn't strongly educated in all facets of how credit works.!!
WE NEED POSITIVE RESULTS REPORTED HERE
I highly encourage people who have read this site and have gotten positive results from reading this site to tell us about their positive experiences. This would be highly encouraging to all other readers.
This is a case where your positive results will positively affect other people and help them from NOT going through the same experiences as you have.
PLEASE, post your positive experiences on this site!
FINALLY!
The writer states a feeling of despair and helplessness regarding trying to deal with collection agencies and the regulatory bodies.
Credit Repair in Canada is a relatively new thing. It's going to take a few years for government agencies to understand what the problems are.
I agree, It's common understanding of how creditors / collection agencies have dealt in Canada up until now.
We CAN affect change by being diligent and standing up for our lawful rights. The creditors / collection agents stand behind the law each and every day and so should we.
shameless plug - Credit Repair Ebook
Check out my credit repair ebook for Canadians. This is a 40 page ebook that includes prewritten letters to government agencies, creditors, collection agencies and techniques that you can use to properly deal with them.
MUST READ AN IMPORTANT LETTER FROM A MEMBER
I did try posting many months ago on Cnd Money Advisor but didn't get no response. Read some of the posts by people about their difficulties with collection agencies...but nothing seems to be written in stone, that is legal definition what rights we have. Most of the posts I did read, seems mostly everyone posted from outside British Columbia from what I seen. So much confusing information because it depends on what province you live in, and nobody not even provincial or federal government institutions provide concrete material that both consumers and creditors have to abide too.
I contacted as posters said to my local, in Victoria BC here, consumer protection agency. They told me they never heard of your site and said as far as they know by law, if an individual defaults on a loan with any company and it goes to collections you must pay collections or pay out original company IN FULL. And from what I read on your site, it seems the majority of your research is based from way beyond BC and the Federal Government Agencies here apparently don't recognize anything but what information they have dealing with collection agencies and what not.
I talk to a former Revenue Canada agent who was head of collections, and she said, the jargon if their is no "transfer of rights" written in your contract with whatever company allowing for 3rd party collection agencies to come after you, doesn't matter, its a given rule of conduct! You owe somebody and if that somebody can't get it out of you, then any company can go to anyone who will. She now works for a pay-day loan company apparently she did a personal bankruptcy herself and said the Federal Government fired her for conflict of interest lol.
Briefly my situation, had a loan with Trans Canada Credit Corp. who was bought out by Wells Fargo of Canada but Wells didn't renew my loan agreement. And my loan agreement doesn't specify outside (third parties) to be involved if I default on loan, which I did being laid-off shortly after Wells Fargo became principal of my loan with TCC. it says if I default, I must pay creditor IN FULL or will be taken to court: that's it nutting else. I did pay Wells Fargo here and there but got behind, way behind and finally stopped paying them in late 2005 because all my payments were going to interest, they wouldn't rewrite the loan...so it went to collections they said. Guess they didn't want the expense of taking me to court?
In June 2006, against financial advice I did send NAFS of Canada $500 bank transfer but they wouldn't send me a receipt of payment, and now they are no longer in the picture some other company since September 2006, NCO Financial Services, another company in what Montreal-0ntario demanding I talk to them and give them $ lol. (lol laughing out loud)
Anyways Monty I have not made any contact with NCO Collection Agency, and they have called my workplace where my employer was not happy to receive call about me, and is that legal? Doesn't seem to matter what is legal or not these days, they call at home here leaving messages but I won't reply. If I had the money or could get the loan to Pay off Wells, which I think I owe around $4200 with interest compiling at 36% per year who knows what they say I owe, I would. I'll be cleared of personal bankruptcy late this year or next year. My local credit union said once I'm cleared of bankruptcy the 6-7 year period they could give me a loan to payoff Wells but not until then meanwhile the interest compiles.
Friends and financial people I talk with Monty tell me don't pay anyone, unless I can come up with the money IN FULL and pay original contract lender only, not some silly collection agency who are way back east somewhere or just let it go to court. Can't afford to do anything right now, laid off again for winter and struggling to get temporary work and EI.
Haven't been to the Cnd Advisory Site lately, thinks I forgot my Id and password and wonders what the point is, if its a forum for people to just tell their credit story but from province to province the rules change and the Federal Government doesn't publish any concrete direction what a consumer to take. I will pay Wells Fargo off one way or another but resists the idea of collection agency in whole simply having experienced giving one of them $500 and no recipt received back and the aloofness of Wells Fargo who could careless and never respond to work something out.
Sincerely
P V
Victoria BC
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2012-11-13 23:08:19
Cbv Collection Services Problems
same deal,,these criminals sent a bill saying i owe 18,000$..hilarious,,they call me 5x per day..i am taking rogers to court..small claimes..why not y
Comment By:karen cliff
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2012-11-13 13:18:44
Retail Theft Could Get You Sued
I keep receiving emails and phone calls from people who think they can simply ignore the letters from these Civil Recovery lawyers.
Don't.
They
Comment By:Gerry Laarakker
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2012-10-18 08:23:07
Retail Theft Could Get You Sued
Bank statements can be demanded or balloon a day even fail to repay the debts incurred from the varied lenders. The offered amount in such cash untill
Comment By:Spadiatrere
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2012-10-09 12:42:44
Credit Repair Canada 3 Things You Should Know
to , take up a new job. Also, reflect on investing in generating a payday advance loan while using classmates and more, typically the segments. The in
Comment By:WarbabsjamY
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2012-09-30 20:03:01
Cbv Collection Services Problems
I had a telus pay as you go phone from 2003 2008 and now cbv collectons is claiming that i owe over 1500 dollars, the last time they called i called
Comment By:marcus
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2012-09-25 10:19:31
Cbv Collection Services Problems
Had a bogus 'roaming charge' bill from Telus a few years back. Got mad at them and switched providers. It went to CBV. Yes, they are persistent and
Comment By:Scammed
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2012-09-23 07:37:50
First Canadian Finance Scam Site
While these aforementioned dangers are a cause for legitimate concern, there are other dangers that derive from perceptions that often have no basis i
Comment By:effomicok
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2012-09-16 16:42:15
Retail Theft Could Get You Sued
I am sick of all you so called legal counsel, wanting money from me , there was a reason i was stealing the items in the first place, i have no money!
Comment By:a shopplifter
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2012-09-13 11:18:04
Car Repossessed Trouble With High Risk Car Loans
Our car loan was with wellsfargo to begin with then transfered to carfinco,. Have never had a problem with them yet and have less than 2 years left on
Comment By:Darlene Fougere
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2012-09-02 18:27:17
15 Blog Post Articles That Talk About Equifax
obviously like www.canadianmoneyadvisor.ca however you need to test the spelling on several of your posts. A number of them are rife with spelling p
Comment By:promotion site
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2012-08-31 11:32:19
Retail Theft Could Get You Sued
so i went in zellers and i baught bus tickets. then walked around playing with toys, and i was with a friend, we're both adults who like stupid toys.
Comment By:Aj.
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