Improve Your Credit Score for Free

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A bad credit score leads to three major problems: the credit issues in the first place, the inability to apply for a loan at a competitive rate and issues with insurance or job applications. Almost every financial institution, potential employers and other organizations now use your credit score as a benchmark when making decisions regarding your future. Don’t wait until the problem is difficult to solve and start improving your credit score today!

Check Your Credit Report

The first thing you need to do to improve your credit score is review the credit report itself. Spot incorrect entries and apply for credit settlements to remove them. Once all entries in the credit report is correct, you can continue with the next steps and improve your credit score further.

improve Credit Score

Manage Your Unsecured Credits

Unsecured credits influence your credit score a lot. It is wise to reduce the amount – and number – of unsecured loans you use in order to improve your credit score. Start by eliminating unused credit cards; keep the number of credit cards in check (a maximum of 2 cards at any given time) and you will have your credit score improved greatly.

Unsecured loans that are difficult to manage can be consolidated. You save a lot of money on interest and other charges while gaining the ability to repay the loans on time.

Get Help

If the bad credit score is caused by a relatively bad personal financial management, consider getting the assistance of a financial planner. The financial planner will help evaluate your incomes and expenses, your loans and the overall state of your personal finance before suggesting the right things to do.

As you improve your personal financial state in general, repay loans and remove them from your credit report. Your credit score will gradually improve in as little as 6 months.

Knowing Is Half the Battle

You can’t start improving your credit score without knowing what to do. There are a lot of online tools, websites and even mobile apps that can help you understand more about your credit report. CreditSesame.com, for example, offers free analysis and a complete arsenal of credit management tools for free. CreditKarma.com also allows users to get their credit scores, learn about savings and gain access to other tips on how to improve their credit scores for free.

Use these tools to help you manage a healthy loan portfolio and improve your credit score in no time.

Working with a debt advice company

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Asking for professional debt advice may seem like something of a contradiction in terms to some: When you’re already hard pressed for cash and incurring losses at the end of each month, why pay a debt management company on top of all the other expenses you already have? The answer is simple: Because the benefits of professional debt advice can far outweigh the costs and you may soon find yourself returning to the black again. Debt advice is not just about providing you with a couple of helpful hints. It is about putting you back into the driving seat and allowing you to determine your own financial future again. Sounds good? Then let’s take a closer look at the many different benefits of debt advice.

Debt advice can improve your spending patterns

Let’s face it: Debt doesn’t just happen overnight. Bad luck may be involved in some cases. But mostly, it means you have simply been spending more than you can earn. The path to financial health may sound simple in theory – simply start buying only what you can afford – but it is rarely quite that simple to put it in practise. Professional debt advice can be helpful, because it can tell you precisely where your problems lie and how to deal with them. As an impartial outsider, a debt advice manager will be able to analyse objectively, which of your spendings are really necessary and which aren’t, what options are at your disposal to raise your income and what to do if things really become unmanageable. At the end of the day, you may have to make some tough decisions nonetheless. But at least you can be sure you’re taking the right ones.

debt advice

Debt advice can yield valuable insights

Anyone can browse the Internet for snippets of information and articles relating to a particular issue. But it takes years of experience and a deep understanding of the topic to put the pieces of the puzzle together. A sensible debt advice manager will be able to, among others, work out whether debt consolidation – the process of merging your credit cards, loans or other personal debt into one monthly payment – makes sense in your particular case. He or she may even be able to speak to your creditors and bring down your debts. [Read more…]

Short Term Loan Myths

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There is a lot of information about short term loans around and people tend to believe everything that they read about them. However, it is important to have a good understanding of what they actually are before you make up your mind about them. Below we take a few of those myths and deconstruct them.

Short Term Loans are Dangerous – There are many people who are very afraid of short term loans, but they should not always be worried. All debt can be a danger, but it does not have to be, it is just a matter of getting it right. You should only ever borrow money if you have to. If you are not in a financial emergency, then do not borrow money. However, if you are desperate loans are there to help. You do need to make sure that when you take on a loan, it is one that you will be able to manage. Check that you will be able to make the repayments when they are due and then there should be no danger at all.

Short Term Loan Myths

Short Term Loans are too Expensive – Some loans are more expensive than others but short term loans are not necessarily the dearest. There are a lot of factors to consider when looking at the cost as well as the interest rate. A low rate can be fantastic, but if the loan for a large sum of money and repaid over a long period then the cost in monetary terms will be very much higher than a short term loan that is paid back in a few weeks. You also have to consider whether the cost is worth it, which will depend on what you are using the money for.

Short Term Loans Damage Your Credit Record – There are ways that loans can damage a credit record but this only happens when they are not paid back on time. If you borrow money and then pay it back when it is due, then this will improve your credit record as it will show that you can pay back a loan when needed. It will be damaging if you borrow money and do not pay it back or have many loans all at once.

So do not worry when you look at www.cashadvance-247.com or other similar websites. The loans may not be as worrying as you may think; you just have to be sensible with them.

Save Money through High Street Haggling

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Often one thing that surprises Brits when they travel abroad is the amount of ‘haggling’ that goes on both at markets/ street stalls and in high street stores. Because it is seen as the norm while we are abroad it seems we gain a confidence and in turn have a go at haggling ourselves. The problem is, as soon as we return home, we lose this confidence and surrender to the labelled prices stated on the shelves.

However, according to a recent survey from Money Saving Expert, this doesn’t have to be the case; in fact there are a number of high street stores that are willing to haggle on price in the name of making a sale. Your approach when haggling will somewhat determine how successful you are, so follow these tips to give yourself the best chance:

1.    Don’t always seek discounts

Often sales assistants will be unable to knock any money off labelled prices however that’s not to say you can’t get some form of saving. If you need any additional items, try to get them chucked in for free, for example; if you’re buying a laptop, try to get Microsoft Office or an Anti-Virus Software thrown in as part of the price.

2.    Discounted Items profit the best savings

The fact that an item has been reduced (whether that’s in a seasonal sale, as part of a manager’s clearance or an online promotion) means that the sales assistant has given up the idea of getting the original marked price.

A great time to haggle is towards the end of a seasonal sale. Retailers will do all they can to get rid of this discounted stock in order to make space for the new stock.

3.    Multiple items = Better chance of saving

Buying in bulk is a known way of getting savings on items. The problem is; many don’t want or need to buy more than one of a specific item – this is where you need to use some initiative. One idea is to get in touch with friends (perhaps pop a note on Facebook) to see if anyone is in need of a specific item at the moment. Also you need to ask yourself; will I need more in the future? If it is the type of item that you’re able to stock up for the year; then do so and save yourself some money.

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4.    Go to the top

Often the most successful way of getting savings in high street stores is to go straight to the top by seeking managers or supervisors. Not only do they have more discretion than sales assistant but they’ll have less time on their hands meaning that your small sale will not mean as much to them in the grand scheme of things. This will be much easier in small independently owned stores.

5.    Look out for flaws

Look at items from a shop’s point of view; if you have an item with a defect such as a mark or rip on clothing or a dent or scratch on an electrical item – it’s going to be tough to sell. As a consumer you need to play on the fact that this is the case and hopefully get a discount. [Read more…]

Your options to get your money back from mis-sold PPI – Leaving it out is none of them

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You won’t be over the moon when you learn about how much money could have potentially been stolen from you by the bank who sold you PPI alongside your credit card, loan, or mortgage. You know you would really want to reclaim it but you’re taken aback by your own doubts as to how much trouble it would give you by just making that. Well, you can’t leave it out just like that. It shouldn’t be any of your options as of now.

If you look at it closely you could have been tricked. This whole PPI thing has been a mess for several years now and you could have been any other person who became a victim to the massive mis-selling of the policy. The truth is there should have been nothing wrong with an insurance policy like that. It’s meant to help you with your repayments if you suddenly become unable to because you got sick, had an accident, or got fired. What made it totally wrong and unlawful was that the banks and other sellers found a way to rip people off their money by shoving the product down their throats, sans information – no nothing.

And if you are sure that it happened to you – being wrongly signed up to PPI, here’s your chance to make things right and get that money back. You’ve actually got options of either seeking an expert assistance like a solicitor or an insurance specialist to work out a PPI claim or you can do it yourself given the information you’re about to get from this bit.

money back from mis-sold PPI

First off, you need to know how much you’ve roughly paid to PPI and for how long. That would also state the obvious, that you’ve had for some time now. The thing about PPI is that it does not necessarily appear in the paperwork as it is. It’s sometimes labelled ASU cover, Loan Repayment Care, Cardholder Repayment Protection, Mortgage Payment Protection, and the likes. You may need to inspect your documents carefully and any reference to the policy.

Next thing you need to do is to recall how it was mis-sold to you. There are a few things that could have happened to you. Have a close look at the situations below. [Read more…]

Leave Room for Credit in your Life!

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If you’re trying to get your financial life off to a great start, you have to leave room for credit in your life. Unfortunately, today’s youth really don’t get the lessons in personal finance that they honestly need. This leads to a lot of stress and problems down the road. After all, if nobody has ever taught you about credit, how can you do anything but fear it? You might even have friends that are already getting themselves into debt. Vowing never to be one of them, you turn your back on credit. Sounds like a smart thing to do, right?

Well, not really. You see, lenders use your credit habits to determine whether or not you’re really ready to handle things like a car or a house. If you wanted to start a business later down the line, you will have a hard time getting a business loan. This doesn’t mean that it’s out of the question, merely that you’re going to have more trouble later on in life. You might have to pay higher interest rates, if you actually get approved at all.

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So you have to leave room for credit early on. This doesn’t mean that you have to absolutely crazy with credit. Maybe you should start with a small credit card. This means that you will not have to spend big amounts to get noticed. You will, however, need to make absolutely sure that you’re paying your credit card on time each and every month. These situations are how people get behind and make big credit mistakes. They forget that they really do need to pay their bill on time. Just even being a day late can till reflect poorly on your overall credit report. You need to also make sure that you’re not spending more than what you can pay off. And we’re not just talking with your current salary. You need to be able to live on a reduced salary in the event that you got ill, or if you were made redundant. Redundancy isn’t something that anyone wants to deal with — it means that money will be tight until you find another job. However, you can indeed get things moving with just small payments here and there. You don’t want to always pay the minimum amount because that means that you’ll always be paying on that credit card. However, if things really get bad one month, you can take comfort in the fact that you can make a much smaller payment than normal because you kept your balance low. [Read more…]

No Upfront Money – No Worries – A PPI Claims CO Can Still Take Care of You!

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When we wake up to a world that has lied and cheated us, it goes without saying that we’re going to be pretty angry. We’re going to feel hurt that someone really had the gall to strike us where it hurts most; our ability to bring in money to our families. The extra money that comes from a PPI refund is really your money all along. Sure, there is going to be some extra interest on the money that was withheld, but the truth is that you had that money from the very beginning. They took it from you when they knew that you would be mis-sold a policy. There aren’t very many pleasant words that can be said about companies that do this type of thing. However it’s time to fight back and get your money back where it belongs — with you, of course.

Indeed, it’s not even just about the money, it’s the fact that someone needs to stand up and show the lenders that they can’t engage in these policies anymore. They can’t just assume that you’ll happily take whatever abuse they feel free to throw your way. It’s only going to end in heartache if you don’t defend your rights. The UK consumer deserves to have a say in getting their money back and having a better life.

PPI Claims

If you don’t have any money upfront to hire someone, you might feel that all hope is lost. Thankfully, this is definitely not the case at all. A PPI claims co can still take very good care of you. You just need to make sure that you are going to be able to get in touch with one.

How madly do you want to get that PPI refund? If you want your money back and you’re willing to take a chance, you can find these companies online. They will assign a case handler to you, so that you don’t have to call back repeatedly for updates. You aren’t going to be just another number in the system. You’re going to be a person that has rights and feelings, and they will do everything they can go get you back a great refund.

The best part? Since it’s your money, you can use it to your advantage. You don’t have to ask permission to spend it. The claims co will just take a small portion out for their efforts in getting you your money — there’s no need for any cash up front. Check it out today, as it really does work!

Credit is a State of Mind…

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This post might be a little bit abstract for some, and we definitely apologize. But sometimes we have to step back and look at how we mentally see credit. It’s nothing to get worked up over at all. The truth is that credit has a purpose and a role in all of our day to day lives. You can’t do anything without good credit. It’s downright impossible to get the ball rolling. What you’re going to have to do is make sure that you’re thinking about credit from an emotional point of view. When your mind is unsure about credit, your financial life is very static. It can’t grow because you’re going to have problems with actually using credit for what it’s intended for.

A lot of people believe that credit is an evil thing that needs to be destroyed. We can guarantee if you have this attitude, your credit life is going to be really, really short. You have to think about credit as a neutral tool. The media would like to make victims, and we don’t agree with that at all. The truth is that credit is a natural thing — it’s what you do with it that matters. Nobody is holding a gun to your head and forcing you to spend more than what you can honestly repay. If you haven’t realized it by now, life is very uncertain. So just because you have means now, doesn’t mean that you won’t get sick later. Life can really change in the blink of an eye. So you want to make sure that you’re protected as much as possible. This is even more the case when you have small children to look after. You want to do everything in the world to make sure that your children are well taken care of no matter what happens.

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Having a credit card gives you options, but you still have to make the right choices. Just like you don’t want to sit down at the poker table after a long stressful day at work, you probably don’t want to go shopping with your credit card just to take the edge off. It might feel good to buy a lot of stuff, but do you really need it? Is it really going to help you get to somewhere else that you would really like to go? You have to be sure that you’re doing everything in your power to move things in the right direction. Otherwise, you’re just going to be spinning your wheels and feeling even worse about yourself.

Problems with credit aren’t something that you have to work out on your own. All residents of the UK have access to the Citizens Advice Bureau. They have a team of debt counselors that can talk to you for free about the best way to get out of debt and actually handle money.

It’s going to really make a difference when it comes time to buy a house. You probably want a house that you can call your own, and this is a dream that many people have. Why settle for not reaching your dreams merely because they’re difficult? While it’s true that you can pay for a house in cash, you’re going to be saving for a long time. It would be better to just save for a modest deposit and see what type of financing you can get. [Read more…]

Spring is the Perfect Time to Switch to a Credit Union

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If you’re going to make some changes this spring, why shouldn’t you start with your fiancés? As much as we hate to admit it, the truth is that our finances impact so much of our lives. Yes, there are parts of our lives that aren’t touched by finances, but those sections are few and far between. What you need to do is make sure that you’re cleaning out your financial life. If you’re thinking about finances, then it’s time to think about your bank account.

You might wonder why we would turn our gaze on a bank account in the first place. Banks are pretty passive — they take your money and they put it in a safe place. We pay them some fees in exchange for keeping that money safe and sometimes we even get a little interest paid out. Not too shabby, huh? Well, the truth is that your bank might be going overboard in terms of fees. Trying to keep your money in a bank that just doesn’t value you as a customer anymore isn’t the right way to go at all. What you need to do is make sure that you are aware of all of the other places that wouldn’t mind taking your money and actually keeping it safe without all of the hassle and red tape. Not sure that this type of establishment exists?

Credit Union

Guess again — it’s a credit union. Credit unions are actually regulated by a completely different authority, and the focus is on keeping your money without all of the high fees and red tape. Getting a credit union account is easy, because it’s based on where you live, what associations you’re a member of, and even where you work. There are a lot of different ways to get a credit union account, just as there are plenty of different credit unions out there.

You’ll find that the credit union is smaller, and the accountholders are actually shareholders in the entire establishment. This means that everything is based on what the members actually want. This type of approach means a much friendlier establishment all around. If you’ve always wanted to go into a bank where they know your name and they know a little more about you, then a credit union is honestly where you want to go. [Read more…]

Guidelines for using credit responsibly

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Now that you’ve been approved for a credit card, the real challenge begins. It is how you use that credit card that will determine your level of responsibility toward your personal finance. Here are a few guidelines that you should follow in order to start using your credit responsibly.

Know the terms.

Whether you have a credit card or a loan, it is important that you know the terms of the agreement. Find out what the APR is. Are there any fees associated with the loan or credit card? What about if your payment comes in late? Make sure that you know everything associated with your loan or credit card.

Keep important numbers.

Keep a copy of each credit card and loan account number. You should also keep a copy of the customer service telephone number. Your account number is very important. It identifies you. You should keep a copy of each lenders phone number in case of bill questions, and card cancellations.

Carry only a couple of cards.

Carrying all of your credit cards is a bad idea. If you lose your wallet or purse, you will lose all of your credit cards and increase your risk of being a victim of identity theft. You will also have to call each and every credit card company to cancel your cards, one by one.

Another good reason to carry only one or two cards is that you won’t be tempted to buy on impulse. Believe it or not, many people get into credit card debt simply because of buying on impulse. They buy something they think that they want, only to find out that they really don’t need it.

Make payments.

Never go a month without paying your credit card bills or loans. B not making at least the minimum payment, you will be slapped with late fees, a higher interest rate, a possibility of the missed payment going on your credit report. Make sure that you pay at least the minimum payment, although not advised, making a minimum payment is 1,000 better than not making a single payment.

A better way to go is to pay a little bit more than the required minimum payment. By paying a little more than the required minimum payment, you will pay your debt off in less time.

The best way to go is to pay the balance in full each month. To do this, make sure that you only charge an amount that you can afford to pay off once the bill arrives. By paying off the amount in full, you will less likely eliminate interest charges and you will not have to worry about accumulating debt.