One of the main reasons why many Americans look to bankruptcy and other measures of debt reduction to clear their name from this debt is because statistically as a country we have a very high debt to income ratio; sometimes way over 50% per household. This ratio can prevent people from obtaining financing, establishing credit, and can also get you in a major bind with many of your own creditors. You can calculate this by taking the percentage of the debt you have versus how much income you bring home. Read more »
Credit Repair Help: Use This Checklist To Dispute A Negative Entry
Here is some credit repair help - a checklist to help you dispute negative entries on your credit report. Print and save a copy to track your progress. Read more »
Credit History Repair: What If It’s Beyond Repair?
Is there a point of no return in doing credit history repair? Read more »
Credit Repair Advice: DIY Vs Agencies
A piece of credit repair advice: before your hire a credit repair agency consider the pros and cons. Read more »
Consumer Credit Repair: 5 C’s Of Good Credit
If you've been trying to figure out how to do consumer credit repair, there are five major C words to lenders. Those major areas are character, capacity, capital, collateral and conditions. Read more »
The Three Factors of Personal Loans
Are you short on money? Then a consumer loan (also called a private loan or personal loan) could be a possibility for you. But before you raise a loan, there are a couple of things, you should know; things like interest rate, security and fees. Read more »
Understanding Liens
A lien is a security instrument that a lender or service provider can attach to a property. This, in effect, turns the property into collateral until the outstanding loan balance is paid. Consensual liens are applied with a mortgage, and especially second mortgages; a mechanics lien is for funding property improvements. Read more »
Lower Your Debt Ratio To Get A Better Home Loan
The debt ratio is one of the most important things a lender will look at when reviewing a mortgage application. The debt ratio is basically a comparison between the amounts of debt a person has compared with their net income. Luckily, the debt ratio is one of the quicker ways to make adjustments before applying for a loan and is definitely something a potential homebuyer should consider when shopping for mortgage instruments. Read more »
Debt Consolidation: Do It with Care
With an general American home today running around $10,000 in debt a huge part of this is coming from credit cards. Living well beyond your means has totally taken its toll. There is a great sinking feeling that will come naturally to people mind that ordinary people like you and me are going poor and seeing the inevitable passing to them when they see that they owe some monthly payment toward their credit cards adjusted only the interest they owe and the total principal due remains the same. In fact it grows month after month as any interest that remains unpaid is added up to the principal amount. This is the problem. You are revolving debt and it will not go on forever. This fire will take its toll and should be taken care of now. If you take a careful look at what interest rates you are paying for your credit card dues you would be surprised that it is a extended twenty eight percent per annum. Read more »