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Information on mortgages, home equity loans, and consumer credit to help you use the power of financing to your advantage.
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For many, all it takes is a layoff or family emergency to lose control of debt and sully a credit rating. Rebuilding damaged credit takes time and patience, but you can dig out. Read on to learn more.
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• Bad Credit? Apply for an Orchard Bank credit card!
• 7 Surefire Ways To Repair Bad Credit.
Do you have a poor credit rating? If so, you are one of tens of thousands of Americans with the same problem. In fact, it seems that this has become a national ‘disease.’ And just what do people need that have a disease? They need a cure.
• 7 Compelling Reasons Why A Prepaid Debit Card May Be Just The Financial Tool You Need. Prepaid debit cards are great financial tools and may be just the financial tool you need. Here a seven compelling reasons why
• Credit Establishment 101.
There will come a day when you need credit. You may want to buy a home or a car and your credit rating will become very important to help make these dreams come true. One of the first things you will need to learn is the basic principle of money management, especially the ability to repay your creditors on time within the 30-day grace period they establish for you. Most people secure credit cards as the first way to establish credit in High School or College. Upon getting the credit card, usually a low spending limit, the ability to repay the card in an orderly fashion will help you establish a positive credit rating with the major repositories.
• Credit Cards For People With Bad Credit Scores. Sometimes life lands you in a situation that causes your credit to suffer. A job loss or illness can send your credit rating south leaving you with nothing to do about it. Some creditors may let you slide a month or two, but your records will still show a delinquency. A stolen identity can also leave you feeling violated and unable to resume a normal life with credit. It is during these times you may have to search a little harder to find companies that wan to deal with people who have bad credit. There are a handful of lenders who will help you re-establish your creditworthiness by using one of their credit cards.
• Beware of Bogus Credit Repair Companies!
So-called "credit repair" companies claim they can remove negative information from credit reports. Advertising as "Credit Advisors," "Credit Rating Correction Services" or "Credit Consultants," they trumpet variations on this message: "Turned down because of bad credit? We can help!" Many of these companies charge hundreds if not thousands of dollars for the promise to "clean up" bad credit reports. But the truth is, these companies can only do what you could do yourself--at no charge.
• Building A Better Credit Record. Only time, a deliberate effort, and a plan to repay your bills will improve your credit record. This publication is designed to help you understand and legally improve your credit report.
• Gold and Platinum Cards. If you're looking for credit, be wary of some 'gold' or 'platinum' card offers promising to get you credit cards or improve your credit rating.
• What do personal bankruptcies have to do with bank card interest rates? In an attempt to reduce credit card losses, several major banks are now tying bank card interest rates to the credit records of applicants.
• Credit Card Protection Insurance- Should You Get It? Credit insurance is a type of coverage designed to pay off the minimum monthly payment in the event that a credit user cannot make their payments. Credit insurance is offered more and more, so if you haven’t heard of it yet, chances are that you will. It is offered by credit card companies, banks, stores, car dealers…the list goes on.
• Credit Insurance: Is It for You? The next time you apply for a mortgage or personal loan, you may be asked if you want to buy credit insurance, or it might already be included in your loan proposal. Credit insurance protects the loan on the chance that you can't make your payments.
• Protecting Your Credit Report During Bankruptcy. Bankruptcy should always be a last resort (see our Debt Relief section for bankruptcy alternatives). However, if you are determined to file bankruptcy but have not done so yet, then please take your time and don't rush the process - it is more important to ensure that all your bases are covered rather than to make a mistake that may cost you later.
• Demystifying the Credit Scoring/Rating Process. Have you ever wondered if you had "good credit" or "bad credit" and how creditors, such as banks, determine if you are creditworthy.
• Utility Credit. Of all the many different types of credit - for example, retail credit, loans, charge cards, and mortgages - utility credit may be the one that most people cannot do without. Utility credit is the credit extended to users of gas, electricity, and water services.
• The Best Ways to Consolidate Debt, Including Credit Card Debt. For small business owners, debt is often a fact of life and business. While the ideal way to start a small business is to do it without borrowing, the reality is that most business owners do find they have to take on debt at one time or another, whether its to grow their business or expand it. And very often, for the small business owner, personal and business debts are one and the same.
Credit Card Calculators
• Credit card payoff Use this calculator to see what it will take to payoff your credit card balance, and what you can change to meet your repayment goals.
• Credit Card Minimum Payment Interest Calculator This calculator will show you how much interest you will end up paying if you make only the minimum required payment on your credit card bill.
Lendingtips Advice on Understanding Credit
• Getting Credit: What You Need to Know About Your Credit.
• Credit Reporting Agencies. If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy.
• Demystifying the Credit Scoring/ Rating Process.
• Credit Scoring. Ever wonder how a creditor decides whether to grant you credit?
• What type of information do credit bureaus collect and sell? Credit bureaus collect and sell four basic types of information.
• Seven-year Reporting Period. There is a standard method for calculating the seven-year reporting period. Generally, the period runs from the date that the event took place.
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| ©2005 Lendingtips.com All rights reserved. |
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Lendingtips.com 464 Oak Avenue Naples, FL 34108
Phone (239)877-7835 Fax (239)594-5686
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