Personal Finance

5 Ways you can get rid of your Bad Credit Card Debt for Good

Credit Card debts are the worst because you never know how much money you are supposed to pay back to the bank and when is the due date.

A single careless mistake could just add up to the pile of your debt and make your life a certain hell. So, how do you avoid it?

How can you get rid of your credit card debt? It’s simple, don’t add more debt but that’s not all, make sure you follow these steps and you will notice that your credit card debts are gone for good now.

Don’t add more debt

This one is the most obvious answer to your bad credit card debts, don’t use your credit card for more purchase.

Hold off on using your credit card unless you have made the current payments and even then use it only during emergencies. This would help you in keeping a track of your credit card debts and help you avoid piling up even more debt.

Throw away your credit cards

The next thing which you could probably do is throw away your credit cards. I don’t mean literally throw away but more like cancel them from the bank.

Just keep one card for emergencies and throw away rest of the cards so that you don’t spend more unnecessarily.

More credit cards mean more shopping and you need to avoid that to protect yourself from debt.

Transfer your credit to a low-interest account

Another way to get your credit card removed would be by transferring the balance to a low-interest or no-interest account and then clearing up that debt as soon as possible.

This will ensure that you don’t have to pay unnecessarily a high-interest rate and you could pay off all your debt soon enough.

Focus on the High-Interest credit cards first

One of the best ways to get rid of your bad credit card debts is by clearing your high-interest credit card first.

Focus on one credit card first preferably the one which charges you the most interest and then either transfer that credit to a lower interest rate account or clear off the payment in one go.

This will save you from paying a high-interest rate on your debt and you would see that your one credit card is clear of all dues.

Pay your credit card bills on time

I don’t think this is a whole lot complicated so just try paying your credit card bills on time. The lesser bills you miss, the fewer late fee and the interest rate you will have to pay. If you can’t pay the whole amount, then at least pay the minimum amount due on your credit card bill so that there won’t be any late fee on it.

If you can’t pay the whole amount, then at least pay the minimum amount due on your credit card bill so that there won’t be any late fee on it. Borrowed from CreditRepairXP, it is probably the first thing you can do to get your credit score back on track.

But do try clearing off your bills as soon as they come. Once you start following this habit you would notice that you have no longer any credit card debt and your credit score has vastly improved.…

Mortgage Loan

Taking out a home mortgage loan after being a bankrupt – What are your prospects?

Every month, there are tens and thousands of people who file bankruptcy mostly to wipe off their debts and start afresh. Many of them realistically feel that it will probably be many years before they can get a home mortgage loan or an existing refinance loan as bankruptcy stays on their credit report for either 7 or 10 years, depending on the type they’ve filed. In reality, they can become eligible to take out a mortgage loan in less than a year only if they can diligently improve their financial picture. The mortgage loans that are guaranteed by the FHA or the Federal Housing Administration are usually permitted one year after the consumer exits a Chapter 13 bankruptcy and two years after he exits a Chapter 7 bankruptcy. However, if you wish to know the ways in which you can rejuvenate your finances, here are some tips that you should consider.

Mortage Loan

1. Be aware of the requirements of the lender: There are some lenders who are stricter about having a policy of waiting for at least 3 years before considering a financing option. While some others consider lending a loan to a consumer before 2 years from the date of discharge. You should know these details in order to approach the lender at the right time. Without getting informed, if you take out a home loan, you might end up with a higher interest rate.

2. Don’t expect low rate deals: As you’re on the receiving end and as you’ve filed bankruptcy recently, it is most likely that you won’t be given lower mortgage rates and therefore you should never expect more than what you can get. Another factor that will decide the mortgage loan rates is how well you’ve paid off your bills since the last discharge.

3. Take some rock solid finance management steps: Getting a mortgage loan post bankruptcy will certainly include taking some rock solid personal finance management steps. You require taking all the positive steps through which you can either build positive credit history or boost your credit score. The more you rejuvenate your personal finances, the more favorable rates you might get.

4. Understand the effects of bankruptcy on your mortgage loan: A Chapter 13 bankruptcy stays on your history for 7 years and a Chapter 7 stays for 10 years. However from the first day of your bankruptcy discharge, as your credit starts improving with time, the score also increases. With every payment that you make, your score will keep in increasing and you can have a score 700 even before the bankruptcy goes off your credit report.

5. Be patient: After you’ve filed bankruptcy, securing a home loan might be challenging as many lenders might be hesitant to offer a loan. However, you need to be patient so as to overcome this situation and end up with a favorable home mortgage loan.

So, even though you have bankruptcy on your credit report, remember that this is not the end of the world. However, manage your finances and thereby repay your home loan on time in order to get rid of secured debt.…

Insurance Policy

Some key inquests you can make before buying a life insurance policy

Life insurance is one of the most important financial tools, which you need to buy in order to secure your future and the future of the members of your family. So, if you are interested in securing the future, you may be required to buy a policy. Now, there can be variety in the policies you can buy and it depends on your needs and your affordability too. Therefore, it’s important for you to consider all of tense and also clear the air on the policies available.

Questions you can ask :

If you have any doubts and if you are thinking about numerous other factors, with regards to life insurance, you need to get some answers to the same. So, if you are planning to buy a policy, and if you are still unsure, it would be better to ask some questions to the insurance agent. He/she may be able to help you in this. Therefore, the questions you can ask are:

Do I require life insurance policy?

If you are unsure about the need of life insurance policy in your life, you can ask about it. Fact is that most of the people need life insurance. However, the need and the level of the insurance need vary from one person to the other. Therefore, the policy you will be required to buy is going to differ too. However, there can be few such situations or people who may not need life insurance. People who have grown up children and are living of their own, So, it is always better to ask.

What is the cost of a life insurance policy?

If you are unaware of how an insurance policy works, and what the need to buy one is, you may not be aware of the cost of the policy too. Thus, it would be important for you to ask about the cost. The cost can vary depending on the insurer, the offers they have and your needs. It can also vary depending on the term of the policy. For example, if you are opting for the whole term, the cost definitely would be high. However, if you are trying the term life insurance policy, the cost is going to be much less.

Cost Of Life Insurance

Can I change my beneficiary on the life insurance policy?

While you buy the insurance policy, you can add beneficiaries onto the policy. Now, there are options under this and you can add more than one beneficiary onto the policy. However, what if you are required to drop or change beneficiary at some point of time? Can you do that? If you are not sure about this, it would be better o ask this to an insurance agent.

What to do if my life insurance company becomes insolvent?

There can be situations in which a policy can become almost null, because, the insurance company can turn insolvent. So, what can you do in such a situation? Do you lose all the money? Ask this to the insurance agent.

So, these are some of the questions you can ask to an insurance agent before buying a life insurance policy.…


Budgeting: Can it stop draining your savings in 2013 Easter?

Easter is considered to be the most favorite long weekend of the year for mostly the young people. You can organize a party or get together with friends and family during this long weekend. In this tough economic situation, most of the people are on tight budget plan. Therefore, organizing a party doesn’t seem to be real in this financial situation. However, if you’re keen to organize a party, you can plan a frugal Easter get together.

Here are some of the important tips that you need to keep in mind when you plan for frugal Easter:

1. Create a family Easter basket: When you’re planning to organize an Easter get together, start with a frugal decoration. You can place a large plate on the center table with grass and goodies. You can get the Easter grass just $1.Use the streamers that you discarded after Christmas celebration. You can use most of the decoration stuffs that you kept in your storeroom after Christmas celebration.

2. Use the remaining holiday candy: You can use the leftover candy from Christmas to fill your Easter Baskets. Ask your friends and relatives to bring chocolates leftover at their place, in order to fill the basket.

3. Bake mini Easter egg chocolate chip cookies: Try to bake mini Easter egg chocolate chip cookies with the help of the kids. You can enjoy the day together baking cookies and at the same time you may get helping hands. Therefore, you can serve the mini cookies as starters for the kids. You can check online to find more recipes for baking cookies.

4. Ask your friends to share the expense: If you can share the party expenses, then it can be easier to organize a grand Easter get together. Therefore, you’re not required to be solely responsible to conduct the party. When the expenses are divided among friends, it can easier to organize the party without burning a hole in your pocket.

5. Request your friends to prepare some food: You can ask your friends to prepare some stuff for the party. If each of your friends contributes one food preparation for the party, then the entire dinner can be laid with assorted food items.

Therefore, you need to keep the above mentioned tricks in mind when you plan to organize a party for Easter in 2013. When you plan a frugal Easter party, you can avoid burning a hole in your pocket. So, you can enjoy your long weekend without splurging your hard earned money.

Avoiding bad investment firms

No matter what kind of investing you’re doing, there’s one simple rule; invest in quality. It’s a no brainer that quality companies will deliver much higher returns and with lower risks than that of low quality companies. How exactly can you define quality when it comes to an investment firm? Well, quality is subjective, but there are a few guidelines that you can follow in order to find the ideal investment firm. I can’t simply say that so and so company is the best company to go for, but I can certainly tell you what to look for.

One of the biggest indicators of a solid investment firm is going to be its growth. You should try to find the company’s EPS or earnings per share and then compare it to other similar companies to see how they stack up. A growing company is, nine times out of ten, a company that offers quality services. There’s a reason why people come back and it’s usually an indication of honesty. Remember, that finding a company you can trust is extremely valuable. You’re likely to develop a long-term relationship with this company and you want to be certain that they are reputable.

Bad Investor Firm

The internet is a valuable tool to researching the integrity of any company. You can find reviews and opinions on the companies as well as share your own. Before you shell out any cash, it’s wise to read through reviews and find some good and bad qualities in the company. Not all companies are perfect and there’s bound to be a downfall, even the most popular companies have flaws. Once you’ve found reviews on the company, it’s also a good idea to contact them directly and ask them about the details of their services. This will allow you to see how quickly their support is and it will also give you some insight on how they operate.

Remember, it’s not a good idea to jump on the very first financial investment company you find. You’re going to want to narrow it down to about three or four companies and then go through the pros and cons of each. If you have the capital, try using multiple companies at once to see which offers the best results. It’s never a good idea to put all of your eggs in one basket, so variety is vital.

With all the fly by night investment firms out there, you want to make sure that you’re not getting ripped off. The guidelines I’ve listed above should help you avoid getting sucked into a financial nightmare. There are a lot of great investment firms out there that offer some astonishing services, so you shouldn’t give up. As long as you use some common sense and good judgment, you’ll be up and running in no time!…


Tips to Acquire the Real Estate License the Complete Way

Getting a real estate license in most states needs the completion of some pre-licensing courses to qualify for the exam, but a few states let you to study by yourself. However the whole thing can be waived, if you are equipped with a college degree in real estate.

Before you think of getting your license, there are many factors involved that have to be considered. The main thing to note here is that you have to make the moves first so that the market is made to deal with you rather than the other way around.

Check out the Area

Regardless of your familiarity with the place, you have to explore the area freshly. Get to know the street names and the sub-division names. Talk to the homeowners and know the present trends in the area. Knowing what the requirements are for the entire area, from the streets to the neighborhood, will help you gain a better perspective.

Equip Yourself

You can gain knowledge about the business in many ways but it is advisable to keep yourself flexible at the same time. If you gather any query during your learning process, you can avail assistance either from web or any expert within your reach. Let’s look at those options which can meet the role of knowledge resource.

  • Books serve as the most economic way to gain knowledge about selling, persuading and giving leads. Your local library can provide you with all the available material easily. Topics like economics, architecture and termites can be easily read.
  • Attending seminars and conferences gives you a direct access to the strategies, tips and secrets of making it big in the business.
  • Adult learning is the trend at present. There are satellite schools and needless to say the Internet, where online classes help to widen your knowledge on any subject you choose.
  • You can buy a client management software even before getting a license. This will give you a head way in garnering the leads and increase your prospects even before you begin.

Planning Strategy

Nothing really reaches the level of admiration without any strategy making. Before you take your exam, you can chart a plan that will make your real estate career prosper. Making the market deal with you rather than being under its control will need proper and well planned strategy on your part. Look closely at the various areas of the business. Find out the least favored area, and make it your niche. This will make you the only player in the area and you can take over from there. Expired and short sales are some such instances that help you establish.

Planning Strategy

Ignore the Media

Media always glorifies disaster more. It highlights the housing bubbles, bank reductions and other dire happenings in real estate, instead of the better prospects that are really there. In fact the media are totally ignorant of the present state of the market and focus only on the sensational news. In a real estate market there are only two types of agents, the agents who have made it and the ones who have failed.

Get Acquainted

Established and profitable agents know what it takes to succeed and what pit falls you have to avoid. Getting acquainted with these people will give you more knowledge than whatever you read or see.

Once you get your license, being equipped beforehand will give the edge needed to prosper in your career as real estate agent. Remember, your approach should be disciplined so that you march ahead with regular strides in your path.

About the author

Alan is your counsellor and also saviour in tough times. Helping you prepare a natural hazard disclosure statement is certainly one of them during when he steps in to provide you the ultimate guidance to save the occasion in your favor.…


Things to do for a secured life

“A secured life is a happy life”

Every person desires a secured life- a life free from worries and uncertainties about his future and that of his family.  A secured life, on the other hand depends on the financial freedom and financial stability of the person.

We are listing some of the most important things to be done for a secured life

1. A good job goes a long way in securing your life. It gives you financial stability as it guarantees a periodic inflow of money.  Look for jobs that suit your skill set and your interests. This will help you to excel in your field leading you to better positions and higher perks.

2. Savings: A wise person always saves for the future.   With soaring cost of things, people usually find it hard to save. But with little efforts and adjustments, it is usually possible to save some portion of your monthly income. It is better to inoculate the habit of saving early in life.  Savings can go a long way in securing your life, as you will have extra fund in your hand to spend for sudden expenses.

3. Insurance: A quote by Suze Orman says that “A big part of financial freedom is having your heart and mind free from worry about the what-if’s of life”.  This is indeed true.  We never know what may befall us in future.  Insurances provide cover against such unwanted happenings.   It is a great investment scheme too and many of them provide good returns and are free from risks as well. You can invest in Life Insurance policies, Property Insurances, Car Insurances, ppi claims and so on.

4. Property: Acquisition of property is a good option as you are investing in a fixed asset and is one of the safe avenues to invest with good yields.  You can even rent it to earn some extra income.

5. Real Estate: Investment of your money in real estate can be a good option but one has to be cautious of the fluctuating price in the market.

6. Mutual funds: Mutual funds are good options, especially for people who look for less risky instruments. These funds accumulate the savings of a large number of investors in a common place and allocate it to different resources, which consist of both high and less risky instruments. Before investing in such funds, do a little research on the returns and performance.

7. Equity: Investment in equity can yield fabulous returns but they are very risky. By purchasing stocks, you are actually buying a part of the company’s asset. As such, when the company gains, your returns are high while if the company is at a loss your yields will also shrink.

8. Retirement plans: Pension plans are one of the best tax saving   instruments in securing your future. The earlier you start investing in them, the more your money will grow and yield good returns.  Various pension schemes are offered by a number of Institutions like Standard Life, Fidelity Worldwide, Skandia, and Scottish Windows and so on.

A number of other options are also available like Bonds, Corporate bonds, Futures and Options, Bullion and so on. Choose the options which suit you and become worry free about your future.

A secured life is a happy life