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
There are four main types of accounts. The current account, is typical for day to day banking, and can be used to withdraw, deposit, write cheques, and use your debit card.
The basic bank account is similar to the current account in that it is also a day to day account. Most of the time, however, this account cannot be overdrawn for more than ten pounds if at all.
Savings accounts are great for doing just what they are named for…saving. Whether you are saving for a rainy day, or your next big purchase, these accounts normally draw a greater interest rate, giving you the best bang for your buck.
Sharia-compliant accounts are accounts that are similar to current accounts, but are structured and comply with Islamic laws.
Don’t be afraid to ask questions. After all, it is your money, and it is the bank attendant’s job to serve you. … Read the rest
The traditional way for people to deal with this situation was to look through the newspaper or phone directory to find the nearest loan company that would provide a short-term, small loan, but searching for the nearest local loan company severely restricts your choices and it often means that you will need to stand in line at a local loan store, which can be very embarrassing.
Fortunately, the internet has made finding loan providers much easier, but it can be very time-consuming and frustrating making inquiries at lots of different web sites and you also need to be aware that every enquiry you make could trigger a credit check, which could adversely affect your credit rating.
There are, however, free services available on the internet that many people are not aware of that make the search for a loan Company much easier.
These websites partner with a network of lenders, … Read the rest
The first step is to pay tithing and then yourself. Once those two are completed then make a payment on your debts.
Giving to charity is important for many reasons. For instance, many wealthy people feel that giving generously to charity was returned to them tenfold; however, don’t give to charity expecting a massive return. Certainly, don’t take out a loan.
Notably, Chris and Orrin the authors of Financial Fitness teach; “The spirit of giving is the spirit of abundance, and living in the attitude of abundance will bless you in many ways.”
They also warn that giving to charity is not a guarantee that you will receive more. It may happen, but don’t depend on it. Instead, you should give because it is the right thing to do.
Living by a budget is necessary for everyone including the wealthy. However, some need to be more militant about it than … Read the rest
Many banks in today’s date also offer their customers with online banking. This form of banking has gained much popularity in the past few years as they make everyday transactions much more convenient. As technology progress, more and more advanced gadgets are being produced. Banks have merged their online banking service with these technological gadgets. Paying bills, transferring funds or making payments for your purchases was never this easy. You can carry out all these tasks by simply using your mobile phone. Online banking can save precious time for people as one would not have to go all the way down to an ATM to make payments for bills or transfer funds. However, several security threats come with online banking as your bank account can be manipulated if a hacker is able to break into your account. To prevent this sort of events from happenings, banks have several measures in … Read the rest
It is plain to see that electronic payment systems have more advantages than traditional banking services. Let’s see:
Money transfer from one virtual account to another may only take a few minutes, whereas a wire or postal transfer may take a number of days. Besides, you have to spend some time to go to the bank or post office and wait in line.
Even if a person is willing to control his disbursements, it can take a lot of patience to jot down all the expenses, and this takes up a huge part of the total amount. On the other hand, the virtual account comprises the history of all the transactions, including the store name and amount spent. Best of all, you can check it whenever and wherever you like. In this case, an electronic payment system works to your advantage.
… Read the rest
Your primary income source is your lifeline. This is why we want to increase it. All too often people start new business ventures and let their primary income flow dry out. Remember your primary source pays the bills, keeps food on the table, and it will fund future investments ventures.
The movement to become your own boss is enticing. The road is paved with broke bosses and would be entrepreneurs. Starting a side hustle is the correct thing to do. But not before you secure and increase your first flow. Your first flow funds your entire lifestyle. Don’t forget that.
How can you increase your income now with your first flow? How can you bring more money in with what you are already doing? Look at your income source. How can you earn more money with that? What other duties can you perform to get more money coming in?
You … Read the rest
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.
Say for example, … Read the rest
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