Owning your own home is a dream for some people. But your mortgage application can be rejected for various reasons. Some can be resolved easily, while others cannot. Providing False or Inaccurate Data If your loan application is declined, you may have simply given your broker some wrong information. Professional document readers will examine every detail in your application closely. And their access to various information systems is extensive. So false statements or lies will therefore be discovered during the application process. On the other hand, you may even have simply made a mistake. Therefore, you should ensure that you provide as much accurate information as possible. Also, make sure…
4 Ways Debt Can Affect Your Life
Everyone will encounter debt at some point in their life. It may happen right after college, being overwhelmed with the thousands upon thousands of dollars in student loan debt, or it could be from consistently frivolous spending for things you didn’t need, and don’t use even now. While some people can manage their debt, not everyone can do so, and this could severely impact and affect their life in many different ways. You Are Stressed Money worries are one of the critical components of stress, and from stress comes anxiety and depression, creating a vicious cycle that can feel almost impossible to escape from. This stress is compounded with interest…
4 Ways To Buy A Car With A Bad Credit Score
It takes just three little digits, also known as your credit score, to show how likely you will pay your debts on time. According to Vantage Score, a very poor credit score ranges from 300-579. Whereas the best credit score you could ever have is between 800-850. If you have a bad score, chances are you’ve probably experienced loan rejections, difficulty in buying and renting homes, and even getting a cell phone contract. So you might be on the fence about making purchases, especially now that you realize you need a car. Can you even get finance for a car? It’s not impossible, but there may be some risk involved.…
Looking to End Credit Card Debt? 4 Ways to Pay Off Credit Card Debt
With this being the new year, we all have some kind of resolution we hope to obtain. While many people are looking to slim or loose some weight others want to rid themselves of debt. Many people have followed the 52 Week Challenge to help with money issues. On the other hand, people are looking to get rid of credit card debt. Are you someone that’s looking to get rid of credit card debt, maybe I’ll be some help to you and many others? Check out these 4 Ways to Pay Off Credit Card Debt. Pay Off the Balance with the Highest APR First Get all the statements for…
3 Useful Ways To Save Yourself From Bankruptcy
Money can cause so many problems in your life. So often, it comes in with one hand and goes straight out the other. There are so many things that can affect your cash flow. Uncertainty in the economy is a significant factor that may well keep you awake at night. Nobody wants to face a chapter 13 bankruptcy, and you may need to fight very hard to stay on top of your debts. If that is something you have to face, make sure you get some professionals involved. Find yourself someone like this Harrisburg PA bankruptcy attorney to help you because they are experienced when it comes to debt relief and will…
8 Signs Debt Is Becoming A Major Issue
It’s fair to say that debt has become normalized in modern society. The statistics back this up: according to CNBC, the average person is carrying around $38,000 in personal debt – a figure that does not include home mortgages – and less than 30% of people can say that they have no debt. As a result of the above, it’s not uncommon for debt to just seem… fairly mundane. Part of life. Not something to be worried about. However, there is a big difference between debt that is controlled and being repaid, and debt that has spiralled into something more and become a Problem, capital P and all. Given the…
3 Smart Tips and Guidelines to Improve Your Credit Score
It is essential to manage your funds and finances well! Besides, no one knows when you might have to borrow money for a property or vehicle purchase. Taking out loans indicate that you need to repay the same within a stipulated time. The banks, financial institutions, and other credit unions should be confident about your loan repayment capacity. It is the reason why you should enhance your credit score. It is essential to maintain an average credit score of 650. When you fail to do so, financial institutions and others deny your loan. If you have a poor credit score, make sure you start to enhance the same today.…
It’s Financial Literacy Month, Peep 10 Credit Myths Debunked
When it comes to debt, credit reports, and credit scores, conventional wisdom is peppered with myths, misunderstandings, and misrepresentations. Credit is a tool. Like any tool, it’s neither good nor bad in itself. What matters is how you use it. April is Financial Literacy Month and a good time to clear up these misconceptions. Here are 10 credit myths debunked by the experts at Experian. Myth #1: Debt is Debt Not all debts are equal. Say you’ve got a $150,000 debt on your credit report. If it’s there because you maxed out your credit cards to throw a birthday blowout for yourself two years ago, then you’re in trouble. Today,…
Awesome Ways to Spring Clean Your Credit Report
Spring can be the time to get your financial house in order by examining your Experian® Credit Report to remove any information that might not belong. Perhaps your address has changed. Or there are financial accounts you didn’t open. These are pieces of information you can easily correct through Experian’s Dispute Center. Some Specifics Worth a Sweep: Delinquent payments more than 7 years old. Get ‘em tossed. A bankruptcy more than 10 years. That’s gotta go. Outdated personal information. If a name, address or contact information is incorrect – we can change it. Unfamiliar credit inquires. If you didn’t initiate them, they can be disputed. Correcting your Experian Credit Report…
3 Helpful and Useful Ways to Help Teens Establish Credit
As a parent, we all know about credit and how important it is for pretty much everything. From getting a home, job, vehicles and everything else you can think of. Growing up that wasn’t always the case because, quite frankly my parents didn’t team me about it. Honestly, I didn’t know anything about credit until it was too late because I didn’t have any. When I went to get me a car, I heard that having no credit is worse than having bad credit. Now that I’m a parent myself, I don’t want my kids to suffer the same fate. When my son got his first job at 16, my…
Understanding Debt Settlement and How It Works
Debt settlement provides a practical option for debt relief that helps people who cannot keep up with their monthly payments. It is also the one of the ideal alternatives to filing bankruptcy. Debt settlement plans enable consumers to pay parts of their debt. In order for you to be able to reap the benefits of settling debt, you need to be aware of how it works. Specialized Debt Settlement Services If you are working with a spain debt collection service, or a similar debt collection agency in your area, professionals will negotiate with creditors to accept a percentage of your debt as payment to cover your entire debt. Successfully negotiating a settlement…
What’s The Difference Between The Hard and Soft Inquiry
We just wrapped up the Christmas holidays and I know many of you probably capitalized on those amazing credit cards offers you’ve been receiving. If the credit cards offers didn’t interest you, more likely those deals for a new vehicle caught your eyes. Either way, you went about filling out applications for credit or anytime you apply for credit they’ll pull your credit. A credit inquiry is a notation that goes on your credit report every time your credit report is accessed by anyone with a “permissible purpose,” as defined by the Fair Credit Reporting Act. Inquiries remain on a credit report for two years, and generally fall into two…
Leasing Vs. Buying
Having your own car means practicality and comfort to go anywhere you want, but it can also become a concern and major source of spending money than is initially imagined. That is why, often, a primordial question arises: after all, it is better to buy or lease a car? The answer may not be that simple and depends on the usage aspects. Renting a car offers some unique benefits such as the ability to pay a small percentage of the initial value. Buying a car is not something you do every day, obviously. It is an extremely important decision and a milestone in someone’s life. The process of financing to…
The Importance of Good Credit when You Are Buying a New Car
If you are looking at purchasing a brand new or used car from one of your favorite dealerships, it definitely helps to have a good credit score. It doesn’t matter if you are buying a used car or a new one, if you are getting finance for it, then you will want to go in prepared with the best credit score possible. We all have a certain amount of money that we are looking to spend when we set out to buy ourselves a new vehicle. We know how much we can afford to spend, what sort of a vehicle we are looking at buying, and how much we can…
