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Credit Counseling

Archive for July, 2011

Building Business Credit Scores

To be able to avail of many financing offers by many lenders, having a good credit score is a must. If you have one handy, this will allow you to get a decent amount with reduced interest rates, with flexible payment terms.  But building your business credit score is no easy feat to accomplish.

If you just have started earning your business credit when you set up your business venture, then it’s quite easy to get a good rating within 1 to 2 years of its operation.

This is not the case, however, when you have a bad credit rating. You either have to repair your business credit on your own, or hire a credit repair professional to get the job done. Only when you fixed your score can you start to build it up.

But before you can actually start building business credit scores, you need to have a credit identity first. This can be done by putting up your business as a corporation or an LLC. These two are perfect statuses to start your business credit. Since most financial lenders are eyeing clients in corporation or LLC, having your business as one will allow you to get a loan faster than any business enterprise.

You also need to set up a credit record with a credit agency, or Paydex. Credit agencies will keep track of your credit transactions, rate them and give them scores. This will be used to determine how good your credit rating is when a financial institution does a credit check.

Paydex scores by big companies like Dun and Bradstreet will keep records on how well your company is paying your credit bills. The score ranges from 0 to 100 – the higher the score, the bigger the possibility your loan will get approved.

Now that you have established your credit identity, you need to apply for a loan before you can actually start building your business credit scores.  First, you can choose either a secured loan, where the lender will ask you to pledge assets or properties as collateral that will serve as security for the loan. Note that this kind of loan will let you borrow a much larger amount (depending on your collateral), and a much reduced interest rate.

Another type of loan is the unsecured loan, which is perfect for those who don’t want to put their assets at risk by setting it up as collateral. Since the risk to the lender is higher compared to unsecured loans, the financial institution might be very strict with its application, coupled with a higher interest rate and payment schemes.

Next is the type of credit you want to be used in your business venture. Below are the most common credits you can bring out in any lender in your area:

1. Business credit card

Quite separate from a personal credit card, this type of credit is more lucrative to be used in business ventures due to its reduced APR, and flexible interest rates (depending on the amount used within the month).

2. Short/Long Term Loans

These kinds of loans allow you to borrow a fixed amount of money from the lender to be used in any way you wish. Attached with fixed interests with payment terms ranging from 5 to 10 years depending on the amount borrowed.

3. Lines of Credit (LOC)

Lines of credits are more for business who are into operation 2 years or more. Credit lines will let you have a fix amount of credit on the bank, which can be used to pay for unexpected expenses that crop up during the operation of your business. The interest expense will depend on the principal amount you have left, and will reduce as you pay your debt until it reaches zero.


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Credit Score: Ways On How You Can Boost It

Having a good credit score is very important in today's society. It is something that many people should have and it is also something that people today would consider to be worthy to be doing just about anything to have a good credit score. By having a good credit score, applying for loans and unsecured credit cards is much easier.

If you already have a good credit score, you will want to boost it in order to obtain the best loan and credit card deals possible. For example, if you have a credit score of 688 and the loan company will reduce interest rate if you get a credit score of 690. The two points can mean thousands of dollars in savings from paying interest.

This is why it is very important for you to improve your credit score even if you already have a good credit score. It will mean lower interest rates and also more chances of getting the loans you need.

There are several ways on how you can significantly improve your credit score. Some ways takes time to achieve and some takes only a few weeks or even a few days to do. However, if you start working on it as soon as possible, you will see that it will be worth all the effort.

So, here are some of the ways you can boost your credit score.

The first method for boosting your credit score is to check credit reports for errors. Even minor errors can significantly hurt your credit rating. So, if you ever suspect that your low credit score is caused by an error, you should contact the credit reporting agencies and challenge them about the report. It is part of the law that the reporting agency should investigate and correct the errors within thirty days if there is any.

The next step on how you can boost your credit score is to pay off your balances every month. This can keep you out of debt and save a lot of money on interest rate. Also, this will demonstrate that you can manage your debt effectively and therefore, increase your credit score.

By having only a few credit cards, two at most, will boost your credit score. Having five or more credit cards will in fact, lower your credit score. This is why it is important for you to have only two credit cards.

If you borrowed money before, it is important for you to pay it on time. This will have a positive impact on your credit score because it will show credit reporting agencies and also creditors that you can manage your debt effectively. However, if you have borrowed money before and is long overdue, you should pay it immediately. In time, these old late payments will be deemed unimportant and it will expire.

Another way to boost your credit score is by managing your credit cards effectively. Don’t use your entire credit limit on each of the credit card you own. For example, if you have credit cards with a credit limit of 2000, 2500 and 3000 dollars, it is better to use 600 dollars on each card rather than 1800 dollars in one card. Always keep one thing in mind; it is best for your credit score if you only use less than 50% of your credit card limit.

These are some of the methods you can use to boost your credit card score. Following all these will ensure you that your credit score will increase and will result in better opportunities in the future.


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College Credit Card

College credit cards are the credit cards that have been specially designed for college students. College credit cards are more popularly known as student credit cards. College credit cards allow the students to experience the benefits of credit cards much earlier in their life. Through college credit cards, the college students are able to learn more about credit cards and their use. In fact, for most of the students, their college credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father’s credit card account; however, for such students too, their college credit card is the first one that is truly theirs.

College credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that college credit cards are used by people who have no prior experience with credit cards and who perhaps don’t understand the concept of credit cards completely. Hence, the credit card supplier is at risk with issuing credit cards (college credit cards) to such people whom he is not sure about. Most of the students don’t have a credit history either. In such a case, the supplier of college credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of college credit card requires the parent of the student to co-sign the college credit card application form as a guarantee. Moreover, the credit limit on college credit cards is generally around $500-$1000 per month, which is lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk mitigation instrument used by the college credit card suppliers is the interest rate or APR. The APR on college credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their college credit card (and finally not being able to pay their credit card bills).
However, if we were to look at these impositions in a positive sense, we would find that these are actually in favour of the student (who is still getting trained to take on the real world of credit cards).  Moreover, college credit cards also help the students in establishing a (good) credit history which is another important benefit that becomes handy when the student needs any type of  loan at a later stage in his/her life.

So, college credit cards are really something that every student should consider going for.


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Benefits Of Weekly Payment Stores

The mistakes of the past should not define the future.

This is the philosophy being advocated by weekly payment stores online in being able to extend installment payment schedules to people who can’t afford to get proper credit due to a bad credit history.

All it takes is a proof of income and residency and then you are off to go with any consumer item that fancies you—it can be anything from a home appliance to a personal gadget.

Since online weekly payment stores allow a staggered installment of purchased goods , even for as long as 52 weeks, this considerably allows people to meet some of their short-term goals. The payment terms that these alternative forms of shopping come in various flexible schemes and they usually start low.

But aside from providing opportunities to consumers to purchase items that they need now in a frequency that does not strain their family income, online weekly payment stores also offer to consumers the chance to rebuild ones credit history overtime.

Just ensure that you are committed to paying off the credit extended to you. If not, expect huge penalty interests on defaulted payments.

No credit check loans UK:

In a consumer driven economy like in the UK, this kind of consumerism can be beneficial not just to end users but also to the economy as a whole.

Without this alternative mode to shop, the purchasing power of individuals is directly curtailed to priority items like food, clothing and shelter. If this is the case, then demand for retail and consumer items slow down, thus affecting the production of the manufacturers. If we move further back, once production is affected, this means lower number of jobs available to people and this is when the cycle comes to full circle.

However, despite the weekly payment deal you got from these stores, your right as a consumer to quality products should be respected still. The Internet is a good resource to browse the available catalogues of the weekly payment outlets.

By shopping online, you also get to compare the best deals available for similar items. You do not have to worry about hidden interest rates considering that state law in the UK requires facilities like this to fully disclose the annual percentage rate of interest.

Even if you do not have a problem with your credit history, weekly payment stores also gives you the convenience of being able to pay for an item at a more comfortable level. This means that you do not need to sacrifice your budget for your basic needs since you will now be able to allocate a portion of your earnings not just to what you need but also on what you want.

How To Become Free From Debt

I was reading a few days ago about the extent to which the people of the United Kingdom are in debt, it was quite astonishing. Now I am not just talking about your average mortgage here; this was more to do with loans, overdrafts and credit card debts. You, the reader of this article, may well be one of these people and if you are then it is time to start thinking positively. Why? Well all will be revealed within the rest of this article.

So why should you start to think in a positive manner with respect to your debt? Well to start with you are not alone, as stated above the majority of people in the UK are also in debt. Now the levels of how much people owe varies from person to person, of course, with the average debt reported to be in the region of £8,000.

The next reason for you to start thinking positively is due to the fact that you are one of the ones that are seemingly trying to eradicate your debt. Why do I have this opinion? Because you are reading an article like this! Despite the horrendous debt mountain that the average person in the UK has accrued it is widely recognised that the majority of these people are not even trying to make arrangements to pay back the loan.

So you want to reduce your debt? Maybe even to the extent of becoming completely free from debt? Well here is the next piece of positive advice; this can be achieved for people who are willing to be disciplined at sticking to a repayment plan and who are happy to stop spending so much cash; cash I might add that isn’t even theirs, it is after all only credit.

Now I am by no means a debt specialist. I am in fact a person that provides a professional DVD authoring and DVD replication service. To break free from debt we have to make certain sacrifices and cutbacks. If we own our own business we could perhaps contact a company of business cost reduction experts to find about the ways in which we could save money, for example they may able to help us to obtain cheap calls.

A debt management company could also advise on the best ways of approaching our creditors, plus they could organize the possibility of having the interest frozen and an affordable repayment plan.

Think positive, you can become debt free.

Beating The Credit Crunch – Top Stag Weekend Destinations

prevent the credit crunch

The days of £1 flights to Europe are actually well and truly gone, as earlier in oil prices reached as high as a phenomenal $127 per barrel, sending the price of aviation fuel spiraling upwards. As travel costs rise, persons are trying to alternative destinations to counteract their ambitions for your prospective groom and his friends' crazy weekend abroad from being scuppered.

There's good news, you still can avoid the credit crunch while having a good time abroad. Below are some of the things that you can do:

Three locations which became hugely popular include the fun-packed Eastern European cities of Budapest, Krakow and Riga. For your great stag weekend, Budapest really is a dream becoming reality. The beer is cheap and some women are hot (and thankfully not the other way around). There's also a lot to undertake - go-karting, pistol shooting, not to mention pub crawls and wine tasting. Try not to believe Budapest is actually dingy pubs and bars, and there is a variety stunning, cutting-edge dance clubs strewn along the city likewise.

Poland is additionally becoming a popular place to go for stag weekends and Krakow for example provides extensive to offer. This picturesque town is likewise great for wine, females and song. For a start this is a student town (with more than 100,000 students), therefore the feel is young, vibrant and cosmopolitan, and secondly the city likes to party, hard. Just as before a large whole host of activities that can be done, including, in the event the inclination takes you, shooting a Kalashnikov rifle.
A stag weekend Riga style is likewise a memorable experience and highly affordable for recession casualties on the diminished budget. Riga is a small place but this is really a very important thing. Though it may be small there are numerous things you can do within its 'walls', plenty of and keep any stag party happy. Here Russian and Latvian cultures merge to develop a vibrant nightlife plus some truly beautiful women. No matter who stays in Riga, ladies revisit agreeing that the women are stunning! In addition the clubs in Riga not just attract these gorgeous women, and also among the best DJs working the turntables from around the world.

Most of these places mnvjhkyt  are perfect for a stag weekend, recession this is. It should be asserted many of these places now have a bit of a bad reputation due to 'Eastern way' of ripping off groups without guides. It may possibly happen in case you go in unprepared and new to things like the correct prices you will be charged inside a club, even so the same goes for of the country.

Luckily because of their increased stag party popularity, increasingly more excellent companies are being built who focus on sorting out stag weekends in these areas, by ensuring that you do not become victim to any con artists or quick buck merchants. Nearly these companies provide excellent services, they may also ensure that you are kept amused with exciting activities, are between the prettiest woman to get the most bangs on your buck on your stag weekend.


I hope this helped you in finding out how to prevent the credit crunch Von Voyage Buddies!

QROPS – Guidance For Expats


Expat Advice - QROPS QROPS, or Qualifying Recognised Overseas Pension Schemes, can provide an excellent alternative to a UK pension for expats. However, as with any other aspect of wealth management, it is important to get professional QROPS advice from a regulated financial adviser. While QROPS can offer many benefits for expats, such as reduced taxation and inheritance advantages, it is true to say that QROPS do not come in a ‘one size fits all’ package. It can be easy to get lost amidst all of the QROPS information available. This is why it’s crucial that you get independent financial advice, to ensure that you’re sourcing the right QROPS for you.

Getting the Right Wealth Management Advice There are several stages that your financial adviser should go through with you when giving QROPS advice. Firstly and perhaps most importantly, your adviser should assess your personal financial situation. An analysis will need to be made of your existing UK pensions, so that you can see whether a QROPS is the right move to make. Any wealth management decisions should be made with a view to improving your situation - so your QROPS adviser should look at your existing pensions to see whether it would be better to leave any of them alone or to consolidate all of your pension plans into one QROPS.

Your QROPS adviser should talk you through the potential benefits in terms of inheritance that a QROPS can provide. Unlike a UK pension, you don't need to purchase an annuity with a QROPS, and any remaining funds leftover after your death can be passed on to your loved ones. Location is another consideration to make when choosing a QROPS. Different countries have different tax laws and you don't actually have to live in the country that your QROPS has been sourced from. Your wealth management professional should be able to clearly explain the different tax laws of the jurisdictions that you are considering.

Managing Your QROPS Your adviser should have a good understanding of your financial goals and their fee should cover any administration required to set up your QROPS. If there is one additional thing that you should do yourself, it is to check with HMRC that the QROPS that you are transferring your UK pension into is recognised by them as a legitimate scheme.

Once your QROPS is set up, you can start to look forward to your retirement. It is important however that your QROPS adviser provides ongoing support. Changes in the marketplace or in the tax laws of your country of residence, or the country your QROPS is in, could have an effect on your overall wealth management plan, therefore your adviser should keep you up-to-date with anything that may have an impact on you.

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It's as easy as writing an e-mail that may be in a form of a newsletter or a plain announcement, and sending that to as many targeted recipients as possible. However, there's an ideal way of going about it. Email marketing is not just about writing any email that you will be sending to anybody. To clarify that, here are some simple tips in doing email marketing the best way possible. Generic for Synthroid Consider the best products which will definitely capture their interests and needs. It's not about contradicting the advice that you should keep an email short and sweet. This tip is on including seminars, conferences and other events in your email. Businesses that require training benefit much from this method. With these RSVP-requiring emails, repetition is important. Just make sure that an ample interval is considered before sending out a reminder email. With these simple ways of going about your email marketing endeavor, your business will prosper in no time.

If You Need To Save A Lot Of Money Get A Good Insurance Policy

The income generated is always fixed and the ever growing expenses are a nightmare. It’s important to take pleasure in small things of life and to ensure that your family gets the best of it. It’s important to make time to view your budgets and the savings that you have built into your finances. It could be quite a tiring task to balance an income and churn out a saving with an ever increasing expense. In order to ensure that you balance this out you will need to find a suitable financial instrument that will work for you. A Calculator will help in getting drawing up the pictures into the future, which would give a good view of the required expenditure for the month and the year.  

Insurance gives you the peace of mind. Hence when you buy insurance you are buying peace of mind. How much you care for your family is actually seen with need to provide for your family. It is fantastic to know that there are many ways you can have the assurance of extra income. This can be from a hobby, renting a house or also looking at the possibility of working part time on weekends. Plus there are funds like mutual funds, investment yielding money, infrastructure bonds which yield money well. Actually these things help you to make your money grow. It will work out so well for you if you curtail your expenses especially when you shop for insurance.

The broad category of insurance will be explained to you once you are attuned to make some money. A good policy is the one that does not cause pressure on your weekly or monthly budget. Perhaps you can actually shop for insurance by first understanding what your key objectives are. This will help you note the mandatory expenses and then you can look up to improving your finances. What if something could happen to you as the key income owner? It is much more that being a bread earner. It will surely help you to have an insurance policy that helps you for now to have concrete plans. If you are looking for insurance, you will first need to ask for quotes, compare the amounts and then look out for the most viable scheme.

There are expenses in your home that will continue for the lifetime. You will need money to buy a piano for your child, medicines for your parent or also need money to fix the leak that has spoilt your carpets. So in all there are expenses and at times you cannot budget everything. When you ask for insurance you firstly must keep in mind your current income scenario. Think about the bills you have and what is needed fro paying the insurance premium. It is believed that the term life option is the best and it will really help you stabilize your financial option when you are earning an income that is apt. Slowly you can go on for better policy and higher premium so that it will work out the best way for you.

You can also start investing in an insurance when you are around 30, so that it fits into you retirement plan, you can make your retirement plan to ensure that money will trickle in regularly. What is ideally required is that in your old age you get you money to work for it. This works well if you work out the accrual well within the insurance. Till such time that you get a proper insurance its best to invest in a life term insurance. The simple vanilla plans are quite effective the higher the insurance the greater the savings. Therefore the best plan is the one that is easy on you budget and high on returns for your old age.

Insurance is needed for all people even if you are old. There are good schemes that do not want you to go through any clinical testing. You can take the same if you do not want the pain or wait in queues to get your blood examined. Insurance can be paid via bank transfer or you can borrow temporarily from your credit card. Going for a scheme that has a quick disbursement policy is beneficial. Know more how good the company is via testimonials and get a feel of their customer friendly approach so that you are never inconvenienced at any time.


Article by David Livingston of EQuote, who is also a specialist in financial planning. For more information on term insurance and life insurance no exam, visit his site today.

Wait To See What Future Hold For You Even Without A Job.

The time of recession was very discouraging for most of the people and students, who passed with amazing grades well prepared to go out and make their living were saddened, as they had to wait for economy world to improve. On the other hand the period of pink slips was upsetting. The entire top professional also faced the challenge of insecurity and unpaid bills. All companies went through a phase of immigration. Even after all such situations, people still lived in faith and followed inflexible finance which was quite risky. The downturn was still a considerable risk to topple the budget of many homes, but they still had hope with unemployment, loans and savings.

It would not be easy to spend all your savings and break all your deposits till you find a job. The frustration can build up. But some financial companies gave hope to many people who were seeking for loans. Albeit a bit higher on the interest, the loans did justice to the basic requirements like house rent, grocery bills and education. Some loans are also offered to students who are not employed. A tough phase but all is surmountable with the will to overcome. Special needs have to be addressed but the phase of unemployment is a good teacher.

The main thing when you are earning, is to keep the finance stable. This could call for balancing the bills and also finding ways to earn an income. Perhaps a side business is a great way to rely one especially during the weekends to earn income. If ever there is a phase of not being employed, you can rely on the rent from a property or think of leasing your country home so that extra income can be achieved. It is also advised to cut down extravagant purchases. It is good to have a balance in the luxuries. Now a normal car will do you good so there is no need for you now to invest in a sports car or a flamboyant model. A bit of tuning down the budget will show you the right path.

A good budget is the one that will help you during the bad times. Saving for the rainy day is not a thing of the past or future. If you are able to save it will help you get a good future. Some loans are given to the unemployed at a bit of high price. Why is the price high? The risk run by the company is high as the amount of defaulters is high and hence to get the funds back the company will have to go through a lot. The secured loans are offered where the interest will be slightly lower but in case of unsecured loans you will need to spend a bit more.

Cash loans and pay day loans are an extra way to receive your needed funds, so you could lead you life.  Your life could completely change when you have no job and funds to carry on living. The right way is to stay busy by doing some or the other activity. Applying for a loan can be done by different sources, you could learn an expertise alternatively carry on with community service. Keep your self busy until you receive an amount that will help out retain the time. One good fact about finance would be balance, if you’re able to repay the money whenever you have in hand. You could keep your property or valuables anything which worthy, as mentioned by the bank.

Despite easy approvals, what actually effaces is the earlier credit worthy nature of your finance. A loan is given or disbursed on the basis of how you can honor the debt on time along with the interest. Earlier bad debts will cause a hindrance always. The malady of unemployment causes several emotional problems and life can change for you for some time. Staying positive and convinced about the future is an excellent way you can get your life back on track. Perhaps this is the best time for you to do what you like and have forgotten to pursue. Reading books, joining a library, reading to the blind or just waiting for the time to get better is the best relaxation guide you can have now.
Loans could get approved instantly depending on the documents provided by the unemployed person. Over all loans are really helpful to people.  A tough determination even with all pay cuts and pink slips will still improve your situation. Mourning about the past will not change anything and for the present a frugal situation is expected. However, with hope in the future and strive for your career, life will change for the best.

Article by David Livingston of EQuote, who is also a specialist in financial planning. For more information on term insurance and life insurance no exam, visit his site today.