bookmark_borderHow Much Does It Cost to Sell a House at Auction?

You might think that the costs of selling a house at auction are more than selling through an estate agent, but that need not be the case.

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Typical Auction Fees

The auctioneer would typically charge a commission of 2% plus VAT if the house is sold. If the house fails to sell, the commission would obviously not be payable.

Auctioneers typically charge upfront fees of £300 plus VAT, which covers the entry fee for the auction plus the inclusion of the details in the auction catalog. It is sometimes possible to delay paying this fee until the house sells.

To enter the auction the seller’s solicitor must produce a legal pack, which would contain all the searches and title deeds for the house. This would typically cost around £200 plus VAT for a freehold house and around £400 plus VAT for a leasehold house. Without the legal … Read the rest

bookmark_borderFix Credit Errors on Reports

To repair credit the first step should be to write to the reporting company and detail what, in your opinion, is inaccurate information.

You should include with the letter, copies of documents that support your claim. Never attach originals. The letter should have your full name, address, details of disputed items on your report, and contain facts and reasons for disputing the information and a request that the information be corrected or removed.

It is a good idea to include a copy of the report with disputed items circled or marked clearly. The letter should be sent “return receipt requested,” by certified mail so that you will have evidence of the company having received the documents. Remember to keep copies of the report and all enclosures.

Reporting companies usually take 30 days to investigate the points in dispute. They will not do so if they deem the items frivolous. They … Read the rest

bookmark_borderCredit Card Secrets

This is the same when applying for credit cards as a means of having another source of funds to spend. Most of the time, having credit cards are often associated to financial loss but with the right ways of handling it, you will be able to see how helpful it will be. Below are some tips and tricks you must know if have a credit card:

Check For Annual Fees

Most companies charge a certain amount of annual fee on the cards. However, very few people know that they can easily get rid of such fee, especially if they have a good credit score. For this case, all you need to do is to pick up the phone, call your bank and request for the fee to be removed. Tell them that you are going to dump the card if they don’t remove the fee.

Universal Rules

Say for example, … Read the rest

bookmark_borderDivorce and Credit

According to Experian, a credit reporting agency, “Many divorcing couples are confused by the role of the divorce decree. A divorce decree may specify who is responsible for accounts opened during the marriage, but it doesn’t break the contracts with the lenders. If the spouse responsible under the divorce decree is unable or unwilling to pay and the contract has not been changed by the lender, the late payments still will appear on both credit reports and will have a negative impact on credit scores for both individuals.”

Getting divorced is never easy, even when both parties agree it is for the best. So, it is understandable that you may not fully understand what is involved in a divorce decree. Simply stated, a divorce decree states who is responsible for which accounts. However, this does not remove the other person from that account. Meaning that if the other party does … Read the rest

bookmark_borderBenefits of Belonging to a Credit Union

As they become more competitive in areas like ATM access and online banking, they may look increasingly like banks from the outside. But from the inside out, credit unions are unique. Instead of operating for the benefit of shareholders, as banks do, credit unions are owned by their members, for their members. When you join and open an account, you become a shareholder.

What this means, in practical terms, is that your membership offers you access to lower interest rates on loans, significantly lower fees on accounts, and higher rates on savings. Because they are not-for-profit organizations, any excess funds collected are returned to you, the shareholders, in the form of dividends.

They have been innovators in bringing the convenience of nationwide banking to their members without sacrificing the spirit of community. For example, they have teamed up with CO-OP Network, one of the nation’s largest ATM networks with over … Read the rest

bookmark_borderReach Max Credit Score

If you have ever borrowed money or used credit in the past, you have a credit score that reflects how well you handled the credit extended to you. In general, you score shows how much credit you currently have available to you, how much money you owe on it and whether or not you are making timely payments on your current accounts.

Would be creditors and lenders use your credit score as a predictor of how likely you are to repay any credit extended to you. If you usually make your payments on time, you will surely have a better than average credit history, and it will be easier for you to obtain a loan from a bank or credit union. Those with the best credit scores qualify for the lowest rates.

If you have a poor credit history, you’ll find it difficult to obtain a loan from any lending … Read the rest

bookmark_borderWays to Avoid Inheritance Conflicts

  • Understanding the Personality of other Heirs: It is very important that you try and understand what kind of people the other heirs who are also involved in the settlement issue are. Analyse their basic traits and find out the way to communicate with these heirs. This approach often resolves most complications even before they arise and clears off lot of misunderstandings. Personality difference is often the main cause behind a conflict concerning settlements. It will become more and more difficult to avoid conflict or maintain peace without understanding the differences.
  • Keep the Home Untouched before Formal Division: It is very important that you don’t claim your right on something that logically belongs to other heirs. It can also mess with their emotional sentiments and can further complicate the case for you. This is why it is important that the house remains untouched or undisturbed till a legal division
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bookmark_borderCredit Score Works

Simply put, having a good credit score will save you money. If you have a good credit score, you’ll be able to negotiate the best rates on loans. This may include car loans, mortgages, student loans, or any other type of loan. Someone with a high interest rate on a loan will have to pay more money during the life of the loan. Someone who has a low interest rate will end up paying less money over the life of the loan.

According to FICO, there are 5 metrics that comprise your credit score:

35% Payment History – If you pay your bills on time, your score improves. If you pay them late, your score drops.

30% Credit Utilization – You should aim to use about 10 percent of your credit limit every month, but no more than 25 percent. This will keep your credit utilization ratio in good standing. … Read the rest

bookmark_borderCredit Card Reward Points

In fact, using these points and offers will help you save money and a significant amount of it as well! But, in order to save some, you will have to spend first. So, how does the whole thing work?

For starters, the number of reward points you can collect depends on the type of card you avail. For instance, your reward points will vary if you have a gold or a platinum card and it’s different for a co-branded card. For instance, for every x amount you spend, you will earn a certain number of reward points. The value of x will across banks and also depend on the type of card you own.

These points will accumulate from the time you start using your credit card. The longer you save these points, the more will be their value. And, yes you needn’t worry about these having a validity date. … Read the rest

bookmark_borderWays to Destroy Your Credit

  • Live a lavish lifestyle – Maybe you pay way too much for your rent or mortgage. Perhaps leasing that fancy car was not the best plan. It feels good to have new things to wear each week, but is it practical? Your living expenses are supposed to fit under the umbrella of your income. This includes basic living needs and all the bills to support it. Do your monthly expenses fit under this umbrella or do you live on credit cards to make it happen?
  • Ignore your debt – Not sure how much you owe on all your credit cards? How many cash advance online loans have you used in the last year? Did you push your student loans into forbearance for another year? You can live to ignore your debt, but eventually it is going to show its face to you. It won’t be pretty. Credit limits will be
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