4 Important Tips For Fixing Your Credit

credit-repairBad credit can keep you from buying important things such as a house or a car, and it can stay with you for a long time. The good news is that there are ways to repair your credit, but they take time and self-discipline to work.

1. Check your credit report

If you suspect any inaccuracies, then check your report to see if it matches your debts and payments. If something’s amiss, contact your creditors and a major credit bureau to explain what’s wrong. Then, make sure they send you a correction in writing if they decide to change it.

2. Live within your means

It may be obvious advice, but it’s still a good idea. The first step is to stop using your credit cards as often as you are. You should also consider using cash or money orders to pay off some of your debts as you get your credit cards under control. You can also cancel a card or two, but don’t cancel the card with the oldest credit line. Doing this makes your report look younger and worse.

You should also do your best to pay all of your bills on time since your payment history makes up over a third of your overall score. A good way to do this is to make payment plans or set up reminders each month.

3. Pay off your debt

credit reportDoing this is easier than you may think. First, you should try to contact your creditors as soon as you can. They are surprisingly flexible and can accept fairly small payments. You should tackle your high-interest debts first since overcoming them brings quicker improvements to your credit than low-interest debts. Second, set up a second bank account that’s reserved for your payment money. This way, you’ll be able to force yourself to only use so much a month for food, utilities and other necessities.

4. Use credit cards responsibly

Early on, this means using secured credit cards from your bank or credit union. Try to find ones with no interest in the first few months and no annual fees. As your score improves, you can return to traditional cards. When you go back to regular cards, don’t use too much of your credit card’s balance at any time. A good rule of thumb is to only use up to one-fifth of a card’s limit no matter how big that limit is.

For more information on repairing your credit, take a look at this credit repair guide from CreditMarvel.com  It has some really useful tips and resources that can help.

Some Quick Guidelines For Making A PPI Claim

When looking to make a claim for payment protection insurance compensation, it pays to look at a few key factors in more depth when deciding who it is you should pursue your case with.

ppi claim

Terms & Conditions

Look at the terms and conditions pertaining to the companies you are researching, it is a good idea to have a clear understanding of their service level agreements & other information about what their terms are about information provided to them, bringing me to the next point….

Privacy Policy

Ensure that (if you are applying online) the company that you want to claim with have a clear & comprehensive privacy policy, this is because you want to know what they will do with your data, do they store it? Or is it being sent straight through to a system?

Data Protection License?

If the company has visibility over your personal data, make sure that they have a “data protection license”, this is because it this is required (legally) of any company that deals in the handling & processing of peoples’ personal information, for more information see the information commissioners website at http://ico.gov.uk

Good Reviews Online?

Check the online reviews of a company you are thinking about working with, this should give you a good indication of the quality of services rendered plus an insight into what other people think about the service itself and if they were happy with it.


Always check the fees before signing up to a service, because you want to be sure that you are paying the best price for the service that you will get for the money, also, regards fees, most companies work on a no win no fee system, allowing the consumer to pay on success for a completed claim once you have received your payout of compensation.

Payment terms?

Most of the good claims companies will allow you to pay the fees on completion (mentioned above) however is there a vat payment due? (if there is an additional vat fee ensure the company is registered) at what time period from completion is the balance to be paid to them? 2 weeks? Straightaway?

Cancellation Period

Each company should have what is known as a “cooling off” period, which is a grace period to allow for cancellation, check that this is the case before engaging the services of a claims management company.

Financial Advice For Anyone Considering Debt Consolidation

If you are a UK resident there could be a number of options available to you if you fit the criteria, the first question for anyone who is in debt who wishes to have that debt made more manageable with easier monthly repayments may consider what is known as a “Debt management plan” .

A Debt management plan is an informal arrangement that is well suited for people whose financial situation can be helped in the relative short term, the basic “bare bones” of the way a debt management plan works is as follows:

All of the information about your outstanding debts is passed on to the account manager, who then negotiates a more manageable payment plan amongst all of the creditors that are available to such a scheme, and they set in a payment plan for you that is much easier for you to meet each month financially.

For people with larger debts, another option is an IVA (individual voluntary arrangement) now this is a more formal plan which can include much more important debts such as income tax liabilities or council tax.

It is usually for people that have a debt level of at least £12,500 and more than 1 creditor that they owe money to, a lot of transparency is required for an IVA however, as you will be dealing with an insolvency practitioner who will help you along the way to managing your debt & consolidating your monthly bills.

You might need to give visibility on your bank account transactions as well; an IVA is to be treated seriously by anyone wishing to undertake one, because it is seen as a favorable alternative to personal bankruptcy.

The first step on finding out which option is the best one for you, is to make contact with a financial expert, because they can assess your circumstances, do some mathematical “forensics” to find out both in the long & the shorter term, which option would be best for you to consolidate your debts in the quickest possible fashion.

To find out more about debt management plans or IVA arrangements then see these two resources for more information on the two financial plans.

Debt management: http://en.wikipedia.org/wiki/Debt_management_plan

IVA’s: http://en.wikipedia.org/wiki/Individual_voluntary_arrangement

A Couple of Things about Stock Trading

A Few of the Things That People Say

Trading stocks, many people claim that it is a fixed game where only the big guys win. That is one of the first things that is often said. Truth is, anyone can buy stocks and there is no competition with the big guys.
The second thing that is often said is, don’t play in the stock market you will only lose your money. This is true, but it isn’t the stock markets fault that money was lost. In reality there are a lot of negative things that are said. Most of the comments come from people who have sour grapes because they lost money. Stock trading is work, it is a business, and money can be made or lost depending on how it is used.

A Little Preparation, Reading and Learning

When considering stock trading there are several things that need to be done. These things do not have an order to be done in; they just need to be done. Reading books is a definite must, at least a couple.

While reading these books start putting some money aside, how much is not really up to the individual at the start, there is a required minimum to have in an account before trading can begin. Some require nothing to open an account; others require ten thousand dollars to open an account.

Learn how to use technical tools, read charts and current news on the stocks that are making their way on to a watch list. Familiarize yourself with the SEC rules, understand the rules.

Finding a Broker

Find a broker, there are many and they are not the same. Some offer many great tools that can be used and they justify their costs based on these tools. Many of these tools can be found for free on other web sites.
Decide what type of stock trading you want to do, day trading, swing trading and long term investing are just a few of the options that are available. Decide what type of broker will best meet your needs for your trading goals.

Equipment Needed

A fast computer and a fast internet connection is all that is really needed. However having a printer and another monitor can also be very useful. In addition it is also a good idea to have a back up internet plan just in case the first one stops working.

Patience and Timing

These are probably the hardest things to build on when trading. Buying a stock and than watching it go down is hard. It is even worse when you sell it for a loss just to see it go up in price five minutes later. This is a common action for many stock traders and it does not take very long for people stop trading if this happens too many times.


Short Summary

There is money to be made in stock trading; there is a way to lose money in stock trading. Being prepared, gaining knowledge, having patience, doing you own due diligence, and treating stock trading as a business are only a few things that should be done out of so many more.

Factors You Should Consider When Choosing A Credit Card Company


670px-Choose-Your-First-Credit-Card-Step-1In spite of the negativity surrounding them, credit cards make are of the most needed items in anyone’s wallet. They offer travel insurance, money back, rewards, car rental insurance, identity theft security, a and a wide variety of advantages. Unfortunately many people fall prey to credit cards, as they are unable to pay their bills on time, so it may be important for them to find choose a credit card with a low interest rate. For someone who is able to pay bills on time, getting a rewards card may be a much better option. Regardless trying to choose a credit card company can get complicated. Here are some things to consider when trying to chose the right company.

Low Interest Charges

A low interest rate is great to have, an individual plans on having a monthly balance on the credit card. Most companies do require that applicants have great or excellent credit scores, so only individuals who fit these criteria will most likely qualify. It is important to check your credit score before applying to know what it is, and what offers to expect. Most credit card companies will only offer these low interest rates to people with FICO credit scores in the mid-700s. Those with FICO scores in the mid-600s tend to have to settle for card with higher rates. Make sure to read any fine print, to know how long the low interest rate may be valid for. Some companies revert to a much higher rate if an individual is unable to make one payment on time.
Balance transfers

In some cases, people who have great credit scores, and credit cards with high interest rates, need to choose another company that will allow them to transfer their balance at a much lower rate. Prior to choosing another company, it is best to contact your credit card company to see if they may consider giving you a lower interest rate, as they may do so in order to retain your clientele. If they are unwilling to do so, it is best to choose a credit card company that will allow you to transfer your balance at a 0% interest rate. Many companies offer this option for an extended period of time so as to bring in new customers. This 0% interest rate allows the customer to pay off the balance without incurring additional fees. In some cases the credit company may only accept the 0% interest rate for some of the balance and not all of it.

Rewards Options

If the consumer is able to pay off their balance every month, a good card to consider is a reward card. It is important to look at credit card companies that give you cash back. How this works in some situations is that a penny is given for every dollar spent. These kinds of cards usually have higher interest charges, so make sure the balance is paid off every month. Some other companies may offer frequent flier miles or points which may be a good option for a business consumer, or someone who travels quite often.