Debt Reduction Loans - Do They Really Work

Can you really get your level of debt under control by using debt reduction loans? Sometimes called debt consolidation loans, the object of debt reduction loans is to help you reduce your monthly repayments to a more comfortable level that can help you to regain control of your finances.

How Do Debt Reduction Loans Work?
If you have credit cards, store cards, payday loans or other unsecured debts, then you?ll know how scary some of the interest rates being charged on your balances can be. Rolling your balances over to a debt reduction loan can mean you?re paying much less interest on the money you owe, which can significantly reduce your monthly repayments.

You may also have noticed that the minimum payments due on your credit cards and other consumer debts barely cover the interest charged. With debt reduction loans, the repayments are calculated to be principal-and-interest payments. This means a portion of each repayment is allocated to pay the interest due, but the other portion of your payment directly reduces your balance.

This gives you the opportunity to reduce the amount you owe very quickly and get out of debt for good.

Can Debt Reduction Loans Get You Out of Debt?
If you?ve managed to consolidate your unsecured debts over to a debt reduction loan then you should already be saving money on your monthly repayments. By putting some of those savings towards paying extra amounts off your debt, you really can reduce your balance quickly and finally get rid of those debts once and for all.

Unfortunately there are many people who use those cash savings to pay for daily expenses, so the consolidation loan gets relegated to a lower priority and people begin making only minimum payments on the new loan.

What Can Go Wrong with Debt Reduction Loans?

Far too many people apply for debt reduction loans believing they?ll be miraculously able to become debt free as soon as the new loan takes effect. What they forget is that they often have lifestyle expenses and spending habits that got them into financial difficulties in the first place. A debt reduction loan is only effective if you take the effort to mend the spending leaks in your budget so you won?t get back into the same situation again.

Once your credit cards might have been rolled into the new consolidation loan how will you pay your upcoming bills? Will you have enough cash left over from your current income to resist the temptation to go out and apply for a new credit card at the first sign of financial trouble?

There is a large percentage of people who take out debt reduction loans, only to find that they have at least one new credit card in six months time. Not only do they have a consolidation loan balance to pay off, but they also carry a credit card balance that needs to be paid off too. This puts them back at square one and in more debt than before they started.

While debt reduction loans can be a great way to regain control of your finances, if you?re not careful they could also be a way to get you into even deeper financial trouble than you were in before you started.

 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Debt Reduction Plans - Can Make You Are Break You

There are almost as many debt reduction plans as there are ways to get into debt in the first place. So which one is the right one for you? There is no point working on a debt reduction plan that worked for a friend or family member, because their financial situation is not the same as yours.

What matters is that you find the right debt reduction plans to suit your income, your debt and your financial situation. It must be right for your unique circumstances.

You might decide to use the snowball method, or aim at paying off the highest interest debts first. You could choose to try debt consolidation or even debt settlement options to try and get rid of your debts.

Regardless of the type of debt reduction plans you choose, there are some things that hold true for all of them. In order to reduce your debt and get back in control of your finances then here are some things you will need to consider.

No More Debt

When you?re working on debt reduction plans it?s important not to incur any more debt. This means not charging anything else to your credit cards and not applying for new credit anywhere. You?re trying to reduce debt, not trick yourself into thinking just one more card won?t matter. It will.

Declining Payments

You might have noticed that the minimum repayment amounts on most credit card bills are different each month. This is because you?re charged interest on the balance owing. As your balance reduces, your payments should reduce too.

If you have any accounts with declining payments, then ignore the amounts as they change. Keep paying the same amount you were paying when your balance was high and you?ll pay it off much faster.

More Than Minimum Payments

Never pay just the minimum payment on your accounts. In order to make debt reduction plans work for you and get out of debt for good, you?ll need to find a way to pay more than just the minimum payment due each month.

If you?ve chosen the snowball method as your way of getting out of debt, then you?ll only be making excess payments on one debt at a time. As long as there?s extra money going on at least one of your debts, you?re making progress.

Motivation

The biggest problem with most debt reduction plans is that people lose motivation very quickly and fall back into their bad spending habits that got them into trouble in the first place. Find ways to keep your motivation levels high.

You might choose to use a debt reduction spreadsheet to track your progress. Or you might plan a really nice reward for yourself once your debts are gone. Think about how much money you spend each month on repayments. If all those repayments were gone, what would you prefer to spend that money on?

You might treat yourself by having enough money to save for a luxury vacation, or you might find there?s enough left over to save for a down payment on your own home. If you already have a mortgage, you could project your debt reduction plans onto paying this debt down next and work on being completely debt free.

  Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Credit Repair Info

Finding the right credit repair info to suit your personal financial situation can sometimes be a little confusing. There are plenty of tips available, but many of them seem to revolve around trying to keep you in debt longer than you need to be or working on debt negotiation strategies.

The unfortunate part about credit repair info that includes these things is that they have the potential to sometimes damage your score even further if they're not dealt with the right way.

Debt Settlement

Debt settlement is where you, or a company working on your behalf, negotiate with your creditors to accept an amount of money that is often a smaller amount than the full balance you owe. The agreement is supposed to represent payment in full for your total debt and in some cases can see your penalty fees waived or the total balance lowered a little.

There are some cases where this tactic can be an excellent way to help some people begin rebuilding credit. While this sounds great on paper, the reality can often be a little different. Even though you might get your creditors to agree to accept a lower amount of money as the total payment, you still need to pay it. This usually means entering a payment agreement where you must pay a certain amount off your debt each month until it's paid off in full.

If you miss a payment or fall behind, this is listed as a far worse credit infringement than a regular missed payment. On top of this, some lenders may report a debt negotiation or settlement more negatively than the original late payments, which can reduce your score even further than it already was.

What many of these credit repair info tips neglect to tell people is that you're able to make payment arrangements with your creditors on your own. Simply call your bank or lender and tell them you want to make a payment agreement with them. They'll work with you if they think they're going to get their money back. This will also do far less damage to your credit report.

Debt Consolidation

There are many programs and companies available willing to help those with bad credit to consolidate outstanding debts into one easy consolidation loan. While this can help to clear many of your unpaid balances and help to reduce your monthly payments too, it might not always be the ideal credit repair info you need to boost your score quickly.

Once you've consolidated all your past debts and paid down those outstanding balances, your credit score may not get the boost you were hoping for. The unfortunate part about the credit scoring system is that a portion is calculated by the average length of time you've had available credit. When you pay out all those older accounts and open new credit, like a debt consolidation loan, this has the potential to reduce your score a little.

Remember to always check the credit repair info you find before you sign up for any programs or counseling. If you're ever unsure of the info you've found, contact a non-profit debt counseling service to see if they can help to put you on the right track.

 Ruthsella Corasol is the Owner of http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Borrowing Money From Your 401K-Only In Emergency's

Sometimes you really just find yourself needing some money. Unexpected events such as a car breakdown can put a damper in your budget no matter how well you plan. In situations where you need money and need it quick, you can look into Borrowing money from your 401 K. Typically, when someone makes a 401k plan they do not expect to take any money out of it until it has grown and matured.

But life does not always go the way we hope and sometimes we need to delve into whatever source of money we can find, and sometimes that means taking money from our 401k. This has been thought of and that is why most 401k plans will actually have that type of loan available.

While taking a loan from your 401k can often make the difference between paying off a bill and falling further into debt, there are risks involved. If you do not handle the loan carefully you can not only run the risk of having to pay much more down the road, but you also run the risk of ruining your 401k.

Not all 401k plans are the same and so there is no universal method for getting money out of them. You need to check into the specific plan you have and find out what restrictions apply when Borrowing money from your 401 K. For most plans they will require that you borrow a minimum amount of money, usually anywhere from five hundred to a thousand dollars. They often will also have a maximum amount that you can borrow, usually around fifty thousand dollars. However, again, every plan is different so you will need to look and see whether this applies to you or not.

While taking money from your 401k plan may be a life saver, you may not be able to. While most plans are different, there are usually similarities in the form of requirements. Most plans will not let you borrow money from them unless you can meet the requirements they put in place. If you do not meet these requirements they will not lend you the money. So this is another reason for why you should look over your plan carefully and read the fine print so that you are properly educated.

Like most loans, a loan from your 401k will have a set repayment plan that you will have to adhere to. This can be anywhere from 5 to 15 years depending on what type of loan you took out and what type of plan you are on. The nice thing about Borrowing money from your 401 K is that, while you of course have to pay it back, the interest rates are fairly low and are actually put back into your 401k.

While taking a loan from your 401k is a good option, there are some additional fees that you may have to pay. Such as yearly fees or fees if you miss a payment. If your company has someone who manages 401k plans you should talk to them in case you have any questions.
 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.
 

10 Cons of an International Credit Card

Credit card fraud is a fast increasing crime in the world. International Credit Card holders are mostly the victims of this unauthorized access to their accounts.  Let?s take a closer look of the problems faced by international credit cards.

1.      Repetitive use of credit card numbers. After a credit card number has been used and disregarded, say cancelled, credit card companies would reissue the same number to other cardholders. The personal identification numbers (PIN) is changed as well as the credit cardholder?s personal information. But it still bears the same credit card number.

2.      Low standards when it comes to the use of cards by the participating merchants. This is a common problem encountered by international credit cardholders. Employees of the participating merchants have the full access to the account number as well as the security number of the card.

3.      Account Statements given out by credit card companies contains less information about the participating merchant. It does not include relevant information about the vendor that charged any transaction on the credit card.

4.      Unreliable blocking functions. Once a card loss is reported, it will still take months for the credit card companies to block the transactions being made through the stolen or lost credit card.

5.       Lack of validation software. Participating vendors should have better validation software installed on their computer system.

6.      Consumer unfriendly policies on fraud management. The policies on the present fraud management take the blame on the cardholders though not directly stipulated. This means that the policies on the fraud management of international credit card companies protect not the consumers but the company.

7.      Lax standards on investigation about fraudulent transactions. This is the sad part for the victims of fraud through their credit cards. Getting the suspects charged though proven guilty of fraud seems to take on slowly.

8.      Credit card fraud is usually committed through online transactions. This means that credit cardholders are not protected with the authorized or unauthorized use of their cards on purchases or services paid online.

9.      Most of the companies that typically appear on charges are those associated with pornography industry. These companies are the ones that accept transactions even without verifying the cardholder?s information.

10.     Most of the banks? system is not compatible with other international credit card companies for the e-commerce. This is a potential weakness that would mean loss of clients so they would prefer to keep quiet about it.

CPP_author
Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

A Credit-free Card: What is a prepaid credit card?

 In this high-tech era of computers and machines, the purchasing power of people is mostly based on credit. Nowadays, credit cards are almost indispensable in almost any business transaction. For one, nobody can purchase anything online without a credit card.

People who have a poor credit history though, will have a hard time getting or renewing their credit cards. This is where prepaid credit becomes useful.

There are lenders that offer prepaid MasterCards and/or prepaid Visa Cards. Both these cards can be used like a regular credit card. It is even hard to distinguish which card is prepaid or not, by simply looking at it or even using it.

This is basically how prepaid credit cards work. When an account is opened, the card should be ?pre-loaded? with cash up-front. This is like paying for a pre-paid calling card.
Prepaid MasterCards or Visas can be used anywhere as long as these cards are accepted.

The prepaid credit card advantage:

1.      Prepaid credit card can be easily obtained. It can be purchased online or in local retail stores. It does not require any credit check or proof of income.

The only thing to do is to fill out an application, pay a small fee for setting-up the account and load the card with cash. The amount of cash loaded will be the ?credit limit?

2. No interest charges.

When a prepaid MasterCard or prepaid Visa is used, there is no interest charge unlike the regular credit card. The reason for this is that the money used is the owner?s actual money therefore no interest is needed.

3. Prepaid credit cards are free from financial or credit problems.

4. Prepaid cards can be used almost anywhere. Prepaid MasterCards and Visa cards are almost accepted anywhere in the world.

Disadvantages of Prepaid Credit Cards:

1.      Usually a set-up fee of 5 to 50 dollars is needed when an account is opened. Then another fee of $5 or more is paid every time more money is loaded onto the card.

Regular credit cards usually do not charge a set-up fee or annual fees.

2.      Cash up front is needed before any purchase could be made with the prepaid card.
This could be an advantage since compulsive spending can be avoided.

3.      There are some prepaid credit cards that cannot be used to pay regular payments such as monthly electric consumption or online services.

The Conclusion:

The prepaid credit card is a definite help for people who have past credit problems. It is just a matter of choosing the right prepaid credit card that suits ones? needs.

CPP_author

Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com . Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Active Vs Passive Investing

When it comes to comparing active vs. passive investing and determining which investment method is best, the answer isn?t as clearly cut as you might imagine.

Everyone has very different risk tolerance levels, so it?s important to understand your own preferences and investing goals before you choose between active and passive investing choices.

Active vs. Passive Investing Definitions

Actively managed investments, such as mutual funds, try to beat the market performance of a benchmark index, such as the S&P 500, by choosing the best 100 or so performing stocks based on a likelihood of receiving good returns.

A passively managed investment will simply accept that market performance is what it is and invest in all 500 stocks on the index.

Which is Better ? Active or Passive?

Many investors wonder what the better option is for their own investing goals. Once again, it does come down to the individual investor?s personal levels of risk tolerance.

The level of risk you?re willing to take with your hard-earned money can often determine how you?re willing to spend and invest. After all, higher risks can often yield higher returns. Unfortunately higher risks can also compound losses too.

Low risk might equate to lower returns, but it?s commonly believed that a low guaranteed gain is far better than a risky bet on a higher risk return that may not eventuate.

Active Investing

An active investor understands that not all stock pricings move at the same rate or even in the same direction as the entire market as a whole. They will actively try to single out individual stocks that have the likelihood of out-performing the index.

In most cases, actively managed mutual funds carry higher costs. This is partly associated with the higher trading costs, time costs involved with researching likely stock picks and management costs.

For those investors who wish to take on their active investing activities themselves rather than trust their money to a fund manager, then day trading on the stock market is a very similar tactic. You spend the time researching stocks that are likely to outperform the index and you manage your portfolio personally, buying and selling as you try to capture profits and minimize losses.

Passive Investing

A passive investor will understand that as the market index moves up or down, then having a passively managed fund that is broadly diversified across almost all the available stocks on that index is likely to return average returns that are somewhat in line with the returns shown by that index.

Passively managed funds often carry lower fees and may tend to offer lower returns. However, those lower returns are often favored by investors who believe that receiving a low return is better than risking the chance of receiving no return at all.

For investors who once again don?t wish to trust their money to a fund manager, then your passive investing option is to develop a broadly diversified stock portfolio that you hold for the long term. You have the choice of allowing your stocks to simply sit in your portfolio and collecting the dividend or you can reinvest your dividend earnings back into your portfolio to acquire further stocks.

 Ruthsella Corasol is the Owner of http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Pension Tips For The Self-Employed

"Hello, I'm from the government. I'm here to help you." Ordinarily, these words
have a chilling effect on the self-employed, knowing as we do just how ironic
they can be. However, every once in a while they are true and advantageous.
This is the case with the tax-deferred pension options the U.S. government
makes available to the self-employed, people like you and me.

1) Do YOU have a pension plan? It's crazy not to!

The sad fact is, a MAJORITY of the self- employed don't have a pension plan.
Survey after survey documents the fact that millions of people -- each of whom
wants to get old (it beats the alternative) -- are NOT using their business and
the pension guidelines to arrange for a comfortable retirement. This is madness.

Don't wait another minute to do the necessary. Call your accountant today and
listen carefully as he presents your pension options. Make sure you take notes
and question him liberally until you really understand what you can do.

2) Be clear on how much you can invest in your tax-deferred pension account.

Your accountant should give you a precise figure to invest. Keep it close at
hand. Knowing this figure, and doing what's necessary to achieve it are both
crucial to your long-term comfort and security.

3) Know the next pension deposit deadline.

Ideally, you should deposit the full pension amount at the time you file your
federal taxes. If not, your accountant should give you the date (generally six
months after you've paid your taxes) that you can still pay into your pension
plan. This date is VERY important

4) Once you know the figure you can deposit into your pension plan, make
achieving it your #1 goal.

Say you are authorized to deposit $5,000 into your tax-deferred plan. Say you
have until September 1 to do so.

First, you want to deposit this amount in your pension plan just as early as
possible. Today if possible. Why? Because you want to put time to work for you.
All things being equal, it's better to make your pension payment on April 15
rather than September 15. It gives the funds just that much longer to grow.
This makes a great difference over time.

5) Treat your pension payments like a bill, your #1 bill.

Most people pay into their pension accounts after they've paid all their other
bills, when there may or may not be anything left. This is a mistake.

If you are unable to pay-off your pension balance at tax filing time and must
make (say) monthly payments, then ensure you make these payments the very first
thing each month, before you've depleted your available cash.

6) Cash windfall? Think pension!

Made a big sale? Had a bit of luck? Got some extra cash? Think PENSION!

Remember, deposit into your tax-deferred pension account as SOON as you can,
and if a bit of extra cash comes your way pay off what you "owe" your pension
account.

7) Pay your pension fund in advance whenever possible.

Had a good year? Made some extra money? Already paid the maximum into your
pension account? Then deposit some more! The future is, by definition, murky
and uncertain. That's why if you can deposit more, you should. Take any extra
funds you can spare and make an early deposit into your pension fund. When a
rainy day comes, you'll be glad you did!

8) Look but don't touch!

When that rainy day comes and you need extra cash, you may think longingly
about the funds in your tax-deferred pension account. DON'T!

You must regard your pension funds as sacrosanct, not to be touched until
commanded to do so by the federal regulations governing access and withdrawal.
If you withdraw them now, you will ordinarily pay a hefty penalty. What's more
you lose the benefits of time... and jeopardize the comfort and security of
your golden years. Find another way to get the funds you need. Don't dip into
this till.

Conclusion

We all hope to get old, but to get old without security and comfort is to be in
a most unenviable situation. Use your business -- and the tax-deferred pension
options provided by government --, to ensure your old age is as ample as you
deserve and desire.

Harvard-educated Dr. Jeffrey Lant is CEO of Worldprofit, Inc.,
www.worldprofit.com where small and home-based businesses learn how to profit
online. Attend Dr. Lant's live webcast TODAY and receive 50,000 free guaranteed
visitors to the website of your choice! Republished with author's permission by Ruthsella Corasol http://WorkingAtHome101.com

Facebook Applications

Engaging Customers with Facebook Applications With the rapid advancement in the Internet and its increasing user presence, the medium has become a preferred means of communicating directly with customers. Among the most popular activities on the Internet is the voracious usage of social networking sites. With its open architecture and wide range of functionalities, Facebook stands as the number one social networking site. There are many reasons for this cult followership of Facebook. The ease of use and dissemination of content, tagging of friends and related users on shared items is yet another great Facebook feature. Facebook also allows creation of secured groups and publicly available fan pages regarding your own brands. The Facebook applications are its most popular components. Facebook has an open platform for web developers and programmers to create different applications to run applications from within its framework. What is new about Facebook applications? Until the option of applications was incorporated, the Facebook features were more about conventional social media usage, such as adding friends and creating groups pertaining to common interests and affiliations. Applications initiated by Facebook expanded the function of the site toward more interesting features, which included social gaming, where you could include friends and even unknown participants from around the world. The big leap happened when Facebook opened its programming platform to developers around the world, who could develop applications and submit it to Facebook. These applications are made live for public usage once they are certified by Facebook. How do applications help brand marketing? On an average, a user would spend no more than a few seconds on the homepage or any other text rich section of a website. Similarly, on Facebook, text-based sections have their own limitations when it comes to holding attention of the users on the same page. That is where rich content and applications come into play. A game, such as Scrabulous or UNO, on Facebook can engage a user for hours. Social games like Farmville have brought about a new genre of Social Gaming, which is the latest buzzword in gaming circles. For a brand, a Facebook application can serve as an effective tool to gather and engage captive audience for a longer stretch of time. Users hooked on a particular game or application on Facebook will stay with it until the completion of the game. Brands have smartly used the opportunity to insert their logos and branding very subtly in the game. Subtle messages like these are known to give more brand recall and attitude change compared to intrusive advertisements. Much to the delight of a marketer, Facebook provides usage stats of subscribers, which gives insight into the profile of users that the brand attracts. This can be compared with the intended target audience of the brand, and campaign modifications can be done based on the findings. Unlike most surveys that are based on sample estimate, what you get to see here is a summary based on each and every user who has added the application. Developing Applications for Your Brand Unlike most other participative aspects of social media, developing applications for Facebook requires adequate programming knowledge. Facebook has its own set of guidelines for the creation and submission of applications. Developers working on the Facebook framework must be updated with the guidelines defined by the site for any application to run. Brand owners need to avail services of a developer who knows all the steps that go into the creation of successful Facebook applications to ensure that their brand makes its presence through one of the most engaging options available in online media. Get more information here for the best Facebook training available: http://www.WorkingAtHome101.com/?rd=te9qac0F

Cash It Back with Credit Cards

What is a cash back credit card?

A cash back credit card gives annual rebates or gives back money to the card holder based on how much have been purchased with it. This type of credit card is suitable for those who rarely use cash in their transactions. The rebate is computed as a percentage of the total amount charged to the credit card in a year. Usually, rebates are between 1-2%. Some can even go as high as 3%.

Are rebates always in the form of cash?

Strictly speaking, cash rebates should be in the form of cash. But now that card companies are diversifying, rebates may now come in the form of gift certificates and discount coupons. This somehow blurs the line between and among the different types of credit cards mentioned in the first paragraph of this article.

Some cash back credit cards offer upgrading of membership status which allow their members to more discounts and gifts during anniversaries and holidays like Christmas and birthdays. Moreover, some credit card companies also have partnerships with other consumer products that entitle their members to added product discounts in future purchases.

What banks offer cash back credit cards?

There are many banks that offer cash back credit cards in kind. They usually have a rewards program for members wherein card holders receive gifts and discounts courtesy of partner product companies; discount coupons to hotels, restaurants, specialty stores; and travel miles for non-travel purchases. Below are some banks that offer cash back benefits.
1.    Citibank 
2.    Chevy Chase Bank
3.    HSBC
4.    Royal Bank Avion (Canada)
5.    Standard Chartered Bank

Are cash back credit cards offered only by banks?

No. Since business establishments are innovating their services and benefits for their customers, some of them offer cash back to their loyal customers e.g. Discover Card (Discover Magazine). Aside from giving book and magazine discounts, airline miles are also offered by Discover Card. Big grocery stores such as Krogers, Wal Mart, and Bi-Lo offer cash back but in the form of cash certificates and discount coupons.
How does one get a cash back credit card?

Since almost all credit card companies (e.g. banks, stores, airlines) offer cash (or in kind) back benefits, all that has to be done is to file an application in any of their office or stores, or signup online by visiting their web sites. Just be a word of caution for online applications, make sure that the transaction is made through a secure internet connection since identity theft has become rampant with the advent of credit card use.

CPP_author
Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Can You Be Sued For Credit Card Debts

People often ask can you be sued for credit card debts and the short answer is yes you can. You owe this money and you need to repay it or your creditors will take action against you. But the good news is that there are various laws and regulations in place that these financial institutions must adhere to. You, as a consumer, are very well protected especially when compared to practices outside of the US.

There are two types of law, State Laws and Federal Laws. Every State will have their own rules with regard to debt collection so it is best if you read up on your local ones. Your bank or financial institution will be able to provide you with a copy of the relevant laws. There should be a statute of limitation which will dictate how long your creditors have to file a lawsuit to recover their money. 

This does vary but usually lies within 3 to 10 years but you should check. Federal laws apply to everyone regardless of where you live. The law you are probably now most interested in will be the Federal Fair Debt Collection Practices Act.  This law covers how your creditors must behave when attempting to collect monies due.  It also dictates where and when lawsuits can be filed if you live in a different state to your creditor. Another act you should familiarize yourself with is the Credit Card Reform act. Depending on your age and circumstances, you may find that some of these provisions are relevant to your case.

If you are having problems repaying your debts, make an emergency appointment with a local debt counseling service. You should be able to find a free advisor in your area such as one provided by a charity. If possible avoid the paid debt negotiation advisors as any spare funds you have should be directed towards repaying your creditors. Your advisor and the people you owe money to will want to see a full income and expenditure account. You will need to write down exactly how much money you make from all sources and what you spend this money on. Some debts are a priority meaning that you should always pay these first but your advisor will go through this with you.

Whatever you do, do not ignore the situation you are in. It will only get worse.  All credit card debt problems can be resolved one way or another. Bankruptcy is always an option although one you do not want to enter into lightly and definitely not without proper advice. 

Suing you isn't your creditors' only option. They could sell your debt onto a third party company who won't care what your personal circumstances are. But if you have had a good record with your bank and your money problems are recent, you may find that they are willing to work with you to reach a solution. 

So now you know the answer to can you be sued for credit card debts is yes, you need to do everything you can to avoid this scenario.

 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Business Debt Consolidation-Even The Well Oiled Machines Can Use Help

Even a well run small business can run into some financial problems and may need to consolidate it's debt.  It can be difficult to focus on your business and not just on your debt. You need to be able to grow your business and not worry about your debt. For situations like this, you might want to consider a business debt consolidation loan.

One of the most common problems that most small businesses face is insufficient capital. Depending on the type of business you have and the amount of overhead, you may not have had any choice but to take out some loans to get up and running or to keep the doors open until
you can become profitable.

But trying to make multiple payments to dozens of vendors all at different times can really put a crimp in your cash flow. A business debt consolidation loan may make it easier and a lot less stressful.

Just like with a personal loan consolidation, a business consolidation loan can also allow you to pay off all your debt while giving you more money to deal with the day to day issues of running your business.

Sometimes an ongoing line of credit can be a great idea for your business. Just like a home equity loan, a line of credit will allow you to use it when you need it and it will be available even if you don't need it.

This can be a great way to deal with any unexpected business expenses you may come across. For example, when I had a restaurant I needed some extra money to make some repairs in the kitchen. Being able to just write a check to the repair man right on the spot, sure made what could have been a disaster just a mild inconvenience.

I also found it helpful to pay off all my individual vendors at once and than I only had to make one payment for my loan. In the long run the one loan payment was a lot less than all the individual payments I had been making so I had more money left over.

But it was also a lot easier to do it that way than to have to keep track of all the individual payments I had to make to over a dozen vendors, all with different due dates.

Your first step may be to go to your local bank and check to see if you will be approved for a line of credit loan. It's important to keep your business well funded, it's the only real way you can make sure your business will continue to grow.

Make sure you take into consideration the interest rate as well as all other  facts about the loan. You have to go into this with all the information so you can make a good financial decision.

A business debt consolidation loan may make sense for you and your business. As long as you go into the whole process with all the facts, you may find that this is a good option for your business.

 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com . Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Bill Consolidation Loans What You Need To Know

Now that many of us are experiencing first hand the bad financial decisions  that we have been encouraged to make over the past few decades, it's time to start to take stock of our financial house and make things right.  If you are considering  bill consolidation loans then you need to read this article.

There are two major types of consolidation loans: secured and unsecured. 

A secured loan will want something for collateral, usually your house.  It amounts to a second mortgage.  This isn't a bad option as long as you have sound financial skills and  a steady income.

Many people will get into trouble with this type of loan because they often have bad financial habits which is what lead to them needing the consolidation loan in the first place.

For example, someone who uses credit cards to live beyond their means could potentially lose everything with a secured loan.  They will be able to pay off all of their credit cards which is good but they will also have another mortgage payment to make.

If they are responsible and don't use their cards, and they pay their house payments on time, this can be an excellent option.  But if they revert to their bad financial habits and start racking up credit card debt they will be in a lot of trouble because now they will not only have their credit card bills they will also have their second mortgage payment too.  If they default on their mortgage payment they will likely lose their house.

An unsecured loan can be a safer option but you'll need excellent credit to qualify.  The bank is much stricter on who receives an unsecured loan because they don't have any collateral and are taking on much more risk.  If you have even minor problems with your credit you probably won't be approved.  If you are approved you will likely have a much higher interest rate. 

This too can be an excellent option to help you get out of debt but you have to make smart financial moves from that point forward.  You don't have to get a second mortgage on your house but the bank will only allow you to consolidate your debt so many times. 

You have to use this money to pay off your credit cards and then put them away.  Only use credit for emergencies, and no, a plasma t.v. isn't an emergency.

If you are financially smart and use a bill consolidation loans wisely it might be a good option for you.  Just remember it isn't a magic cure, you still have to be financially responsible.

 Ruthsella Corasol is the Owner of http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Best Debt Consolidatio-Not Your Grandparents Times

These aren't your grandparents financial times. Our grandparents were raised in a time when debt was pretty much unthinkable. They were ashamed to have debt and worse, they were ashamed if they couldn't pay their bills on time. There is nothing wrong with that, but times have changed and debt, to some degree, is pretty much a way of life today. If you find yourself in over your head and you need to find the
best debt consolidation service you can, this may help.

Sometimes things just get out of control. Sometimes it's our own fault, sometimes it's not our fault at all, but most of the time it's a combination of both.

At this point it doesn't really matter a whole lot how you got here (though making sure you understand what brought you to this point may help you avoid a similar situation in the future) it's more about finding the best debt consolidation service so you can get out from under the mountain of debt that is suffocating you.

These companies can often help in a few ways. For one thing, they will often be able to renegotiate your interest rates which may make it easier to make your payments, and not just the minimum payment either but the full payment.

They can also pay off all your debt and make it possible for you to pay them back with just one monthly payment. That can save you a lot of time, effort and hassle.

Here are some tips to keep in mind when you are trying to find a quality service to work with;

1. Don't limit your search. Be willing to spend some time finding the best company. Look both online and off. Try to find several companies so you can compare the various services and fees.

Being able to compare features will make it easier for you to pick the best company for you and your needs. There may be a slight advantage to finding a local company. At least that way you can go in and talk with them one on one. 

But if the local companies simply have higher fees or don't offer the same services as an online company, you have to be willing to handle this all online.

2. Beware of scams. There are always people who are very willing to prey on other desperate people.

You can protect yourself by watching for these warning signs: make sure that when you call you can actually speak to someone, make sure the company has an actual physical address and not just a P.O. box, check the yellow pages online to see if the company has a listing, be wary of any company who wants you to pay a lot of money upfront before they've even had a chance to look over your information.

These things can be signs of trouble. Be very careful.

3. Once you've narrowed down your choices, go online to the Better Business Bureau and check them out. See if there have been any complaints filed against them.  If you are dealing with a company in your area check with the Chamber of Commerce and find out if they are a member in good standing in addition to checking with the BBB.

All of this will help you find the best debt consolidation service for you.
 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com . Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.
 

Best Cash Back Credit Card Means Money In Your Pocket

Many people miss out on the opportunity of getting the best cash back credit card simply because they didn't realize that getting that type of card was an option.  In truth, these types of credit cards are fairly common, but they aren't all the same. Each company will have it's own specific benefits for their credit cards. To get the best deal for you and your situation, you will have to be willing to spend some time to find the best fit for you.

Here are a few things to keep in mind as you look for a card:

1.  Find several banks that offer this type of credit card, most every bank will have some version so at this point just make note of the top 5 or 6 so it doesn't get too overly complicated.

2. Next to each of the cards on your list make note of what the percentage of cash back you will receive as well as how many points need to be accumulated before you can get a cash back payment.  Also make a note of any special restrictions each card has. Some cards will offer a higher reward for certain purchases.  If this is the case consider how often you're likely to make that particular type of purchase.  If you only get a high percentage cash back on items you hardly ever buy, you might want to keep looking.

Also take into consideration whether or not there is an annual fee, what that fee is, and whether or not you feel comfortable paying a fee.

3.  Once you've gotten a basic list than you can whittle it down by looking at which card pays the most cash back percentage and also has the least number of points required for a cash back payment. 

4.  What are the interest rates of all the cards on your list?  If one or more of the cards are offering an introductory rate make sure you know when that rate will expire and what it will go up to at that point.  If everything else is the same, it's usually a good idea to go with the card that has the lowest interest rate.

5.  Make sure you carefully read all the fine print with any card you are considering.  It's also important to note if the card has restrictions on what you can use your cash back for. If your purchases are limited to things that you don't actually buy that often, it won't do you much good.

When it comes to your finances there is no such thing as being too careful. You have a lot of choices when it comes to which type of credit card to get.  Don't rush this decision or sign up for whatever offer you happen to get in the mail.  Instead take a little time and use the tips I've given you to find the absolute best cash back credit card for you, your goals, and your lifestyle.  That way your credit card can be a helpful financial tool, not a heavy anchor.

 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.
 

Best Financial Advice Find What Works For You

Now is a great time to get your financial house in order.  The market, according to some, is starting to rebound.  Even if it isn't, the events of the last 18 months should have taught all of us a lesson: save more, and use credit less. Many of us could benefit from sound financial advice.  The first thing you will need to do is find the best financial advice you can.

While getting help trying to unravel complicated financial choices you have to remember that ultimately the decisions you make have to be your own.  Only you can make the best choices for your overall, long term financial health.  Any advice you receive should be taken as just that: advice.  Not gospel or fact, just someone's opinion for you to consider.

Before settling on an advisor here are some things you can keep in mind.  These tips will help you pick a good advisor and, hopefully, avoid falling into the trap of trusting someone who isn't qualified to give you financial advice.

1. What credentials does the advisor have? Many times an advisor will be what is called a 'tied agent'.  That means that they can only sell the products and services of one company.  That doesn't mean they can't help you but if they are tied to only one company they will be limited in the products they suggest to you and they will obviously not offer you unbiased information.

They are duty bound to show you which of their products are best for you, they don't necessarily have to tell you that none of the products their company provides is a good fit for you and your goals and that XYZ company actually has something that may work better for you.

2. How does the financial planner make their money?  It's almost always in the form of a commission or fees.  That means if they don't sell you something, they don't make any money.  Make sure you know what the total fees and commissions will come to.  Sometimes they will receive multiple fees for various transactions, that can really add up...for you.

3.  Fiduciary.  This funny sounding word is very important to your financial health.  A planner who accepts fiduciary responsibility means they are obligated under the law to act in your best interests.  Anyone who doesn't accept this responsibility is just saying that they will try to act in a way that doesn't hurt you. 

4. Will the financial planner help you with every aspect of your financial plan?  That would entail everything from having adequate insurance coverage, to investment choices and estate planning.  There are many elements to your financial health and a good advisor should be able to help with all of them and provide you with a comprehensive plan.

When looking for the best financial advice it's important to keep the above list in mind.  The whole process can seem overwhelming and while it's important to enlist the help of a professional it's even more important to never forget it's your money and your future.  You need to be an attentive co-pilot on this little journey!

 Ruthsella Corasol is the Owner of  http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

100 Website Monetization Secrets

Introduction

This ebook will give you 100 website/blog monetization secrets. You'll learn all kinds of secrets for making money with your web site or blog. You can add as many of these income streams as you can handle. Plus you'll get monetization ideas for profiting from the skills you learn while running your online business.

1) You could sell resell rights products. You could also promote your online services like being a affiliate program manager.

2) You might trade advertising space. You might also sell your business talents for example being a virtual secretary.

3) You can promote private label products. You can also market your web attributes related to being a computer programmer.

4) You may add upsells to your product offers. You should also promote your internet skills for instance being a micro blog poster.

5) You should insert downsells in your product offers. You may also publicize your computer abilities for illustration being a article writer.

6) You could use one-time offers in your product offers. You could also promote your online expertise such as being a contract negotiator.

7) You might market commissioned dimes/firesale sales. You might also sell your business specialties for reference being a transcriptionist.

8) You can promote barter content with advertising space. You can also market your web tasks equal to being a social media manager.

9) You may advertise your own physical products. You should also promote your internet professions like being a photo air brush artist.

10) You should publicize membership/continuity commission offers. You may also publicize your computer experience for example being a seo specialist.

11) You could sell your own digital products. You could also promote your online smarts related to being a super affiliate finder.

12) You might market instant commissions affiliate programs. You might also sell your business duties for instance being a joint venture broker.

13) You can promote your commissioned services. You can also market your web services for illustration being a budget specialist.

14) You may advertise two tier commission products. You should also promote your internet talents such as being a sale page copy writer.

15) You should publicize cost per action affiliate products. You may also publicize your computer attributes for reference being a self improvement specialist.

16) You could promote pay per sale affiliate products. You could also promote your online skills equal to being a blog commenter.

17) You might market drop ship commission products. You might also sell your business abilities like being a online photographer.

18) You can promote pay per lead affiliate products. You can also market your web expertise for example being a foreign language translator.

19) You may advertise contextual affiliate products. You should also promote your internet specialties related to being a forum poster.

20) You should publish pay per click advertisements. You may also publicize your computer tasks for instance being a script installer.

21) You could promote opt-in commissioned giveaway programs. You could also promote your online professions for illustration being a shipping specialist.

22) You might market multi-level marketing products. You might also sell your business experience such as being a ebook writer.

23) You can promote sponsor advertising space. You can also market your web smarts for reference being a pay per click ad manager.

24) You may advertise ezine advertising space advertisements. You should also promote your internet duties equal to being a tech support specialist.

25) You should publicize email/opt-in advertising space. You may also publicize your computer services like being a niche site builder.

26) You could sell forum advertisements. You could also promote your online talents for example being a business manager.

27) You might market mini site advertising space. You might also sell your business attributes related to being a information researcher.

28) You can promote article byline advertising space. You can also market your web skills for instance being a investment broker.

29) You may advertise blog post advertising space. You should also promote your internet abilities for illustration being a internet consultant.

30) You should publicize web site advertising space. You may also publicize your computer expertise such as being a virtual assistant.

31) You could sell banner advertisements. You could also promote your online specialties for reference being a web site designer.

32) You might market syndicated advertising space. You might also sell your business tasks equal to being a accounting.

33) You can promote viral advertising space. You can also market your web professions like being a finance specialist.

34) You may advertise backlink advertising space. You should also promote your internet experience for example being a press release writer.

35) You should publicize chat room advertising space. You may also publicize your computer smarts related to being a employee recruiter.

36) You could sell packaging advertising space. You could also promote your online duties for instance being a graphics designer.

37) You might market insert advertising space. You might also sell your business services for illustration being a legal specialist.

38) You can promote footer advertising space. You can also market your web talents such as being a proofreader.

39) You may advertise classified advertising space. You should also promote your internet attributes for reference being a motivation specialist.

40) You should publicize signature file advertising space. You may also publicize your computer skills equal to being a advertising broker.

41) You could sell pop up advertising space. You could also promote your online abilities like being a commutations specialist.

42) You might market corner advertising space. You might also sell your business expertise for example being a chat salesman.

43) You can promote thank you advertising space. You can also market your web specialties related to being a product tester.

44) You may advertise ebook advertising space. You should also promote your internet tasks for instance being a market researcher.

45) You should publicize order page advertising space. You may also publicize your computer professions for illustration being a web site repairer.

46) You could sell text link advertising space. You could also promote your online experience such as being a contest promoter.

47) You might market blog advertising advertising space. You might also sell your business smarts for reference being a forum message poster.

48) You can promote keyword advertisements. You can also market your web duties equal to being a human resource person.

49) You may advertise advertorial advertising space. You should also promote your internet services like being a report writer.

50) You should publicize hover ad advertising space. You may also publicize your computer talents for example being a skills trainer.

51) You could sell viral advertising space. You could also promote your online attributes related to being a article submitter.

52) You might market freebie advertising space. You might also sell your business skills for instance being a voice over specialist.

53) You can promote side bar advertising space. You can also market your web abilities for illustration being a business consultant.

54) You may advertise contest advertising space. You should also promote your internet expertise such as being a production specialist.

55) You should publicize poll/survey advertisements. You may also publicize your computer specialties for reference being a book keeping.

56) You could sell product review advertising space. You could also promote your online tasks equal to being a editor.

57) You might market squeeze page advertising space. You might also sell your business professions like being a customer support person.

58) You can promote video advertising space. You can also market your web experience for example being a product inventor.

59) You may advertise audio advertising space. You should also promote your internet smarts related to being a ebook maker.

60) You should publicize graphical advertising space. You may also publicize your computer duties for instance being a live event organizers.

61) You could sell exit advertising space. You could also promote your online services for illustration being a software developer.

62) You might market software advertising space. You might also sell your business talents such as being a social networking poster.

63) You can promote follow up advertising space. You can also market your web attributes for reference being a computer technician.

64) You may advertise coupon advertising space. You should also promote your internet skills equal to being a webinar speaker.

65) You should publicize picture advertising space. You may also publicize your computer abilities like being a business coach.

66) You could sell social media advertising space. You could also promote your online expertise for example being a online audio producer.

67) You might market social networking advertising space. You might also sell your business specialties related to being a dvd/cd copier.

68) You can promote RSS feed advertising space. You can also market your web tasks for instance being a marketing teacher.

69) You may advertise background advertising space. You should also promote your internet professions for illustration being a business organizers.

70) You should publicize giveaway advertising space. You may also publicize your computer experience such as being a brain stormer/masterminder.

71) You could sell thank you page advertising space. You could also promote your online smarts for reference being a forum mediator.

72) You might market app/widget advertising space. You might also sell your business duties equal to being a interviewer.

73) You can promote onetime offer advertising space. You can also market your web services like being a tax consultant.

74) You may advertise directory advertising space. You should also promote your internet talents for example being a organizing specialist.

75) You should publicize free advertising space. You may also publicize your computer attributes related to being a back link broker.

76) You could sell blog comment advertising space. You could also promote your online skills for instance being a offline advertising broker.

77) You might market contextual advertising space. You might also sell your business abilities for illustration being a artist/drawer.

78) You can promote upsell advertising space. You can also market your web expertise such as being a viral marketing specialist.

79) You may advertise backend advertising space. You should also promote your internet specialties for reference being a book/ebook publisher.

80) You should publicize about me page adverting space. You may also publicize your computer tasks equal to being a barter broker.

81) You could sell profile advertising space. You could also promote your online professions like being a upselling/backend specialist.

82) You might market autoresponder advertisements. You might also sell your business experience for example being a blog creator.

83) You can promote report advertising advertising space. You can also market your web smarts related to being a app developer.

84) You may advertise sample product advertising space. You should also promote your internet duties for instance being a email copywriter.

85) You should publicize help desk advertising space. You may also publicize your computer services for illustration being a ezine publisher.

86) You could sell podcast advertising space. You could also promote your online talents such as being a teleseminar speaker.

87) You might market physical CD advertising space. You might also sell your business attributes for reference being a seminar speaker.

88) You can promote physical DVD advertising space. You can also market your web skills equal to being a squeeze page creator.

89) You may advertise print newsletter advertising space. You should also promote your internet abilities like being a infomercial producer.

90) You should publicize webinar advertising space. You may also publicize your computer expertise for example being a product launch specialist.

91) You could sell teleseminar advertising space. You could also promote your online specialties related to being a web site template installer.

92) You might market web cam advertising space. You might also sell your business tasks for instance being a advertising trainer.

93) You can promote online radio advertising space. You can also market your web professions for illustration being a web site host.

94) You may advertise eclass advertising space. You should also promote your internet experience such as being a video producer.

95) You should publicize resell rights products advertising space. You may also publicize your computer smarts for reference being a classified ad poster.

96) You could sell product beta version advertising space. You could also promote your online duties equal to being a print newsletter publisher.

97) You might market tell a friend advertising space. You might also sell your business services like being a mobile advertising specialist.

98) You can promote micro blog advertising space. You can also market your web talents for example being a on demand product publisher.

99) You may advertise tech support advertising space. You should also promote your internet attributes related to being a autoresponder host.

100) You should publicize affiliate/JV program advertising space. You may also publicize your computer skills for instance being a publicity specialist.

 Ruthsella Corasol is the Owner of  http://www.workingathome101.com

Basics Tips On Government Foreclosure Homes

As the term implies, government foreclosure homes are sold by the government (or the Housing and Urban Development - HUD). Why would the government be selling a home? It will sometimes seize a property because the owner has not paid the required taxes on the property. In this case, the government repossess the property in the hopes of reselling it in order to cut its losses. There are other cases in which the government will take a home such as in the instance of a property owner who commits a crime on the property (the most common instances of this include drug manufacturing or sales). Whatever the case may be, the government is eager to get back its money and as in many other foreclosures, government foreclosure homes are often sold below the market value price. Tax sale homes are the most sought-after deals in the foreclosure industry and are usually held between April and June. You can get extremely good deals on these types of homes because you may only need to pay off the property taxes that the owner of the home neglected to pay. This can end up being significantly lower than the worth of the home itself. Homes that were previously involved in some sort of criminal activity are often sold at a public auction to the highest bidder and the opening bid for these types of homes can be very low. The government has compiled a list of homes that are in foreclosure and it's completely free to take a look at. Some things you want to keep in mind. . . HUD Homes are sold "as-is", no matter what. So you need to figure out if it's worth your time, money and effort to invest in a home. The necessary repairs may be more trouble than the home is worth. Buyers have 15 days (starting at the time the buyer signs the contract) to get the home inspection. You must also obtain written permission from the HUD to have the utilities turned on. Property condition reports provided by the HUD can be helpful in getting a superficial look at homes, but these should in no way be used as a substitute for a home inspection. The good news is that not all HUD homes need complete renovation. In fact, some jmay need only carpet and/or fresh paint. It is possible to buy a HUD home that is in move-in condition. No matter what the state of the home, most buyers decide that new carpet or flooring and paint are the universal fix that everyone wants on their homes. However, extensive renovation projects usually only appeal to the handy do-it-yourselfers. Rennovation can easily take up to a year to complete. Buying government foreclosure homes can be a little risky. The most important factor to consider is that these homes come as they are--so you need to fully understand the condition they are in. Ruthsella Corasol is the Owner of http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Bad Business Vs No Business For Small Business Owners

Should we turn business away as compared to getting into business deals, which are bad? The truth to this is that some business is always better as compared to no business. What we need to do within this article is define what is actually ?bad?. What is bad business? Bad business is essentially what costs small business owners dearly. This could possibly mean that these bad transactions could end up costing more than it is worth in the end. If you have shelled out money for materials, time, labor and money only to receive something not up to your company standard, then you have lost money on that particular job. Taking these, types of deals incur more money than you received for the finished product or service. Follow your gut instinct More times to none, business owners take on more work than they feel comfortable with in the beginning. Some will have a bad feeling about the transaction or maybe even suspect they will not receive payment or the customer has such unrealistic expectations that the business owners knows will not be fulfilled. Make sure there is communication between both parties involved You should make every effort to make sure that no matter the transaction, the deal is precise and profitable with the terms and conditions made clear as well as understood by both parties involved. This will ensure that both parties will be happy. One cannot avoid bad business deals from never happening but a little common sense can aid greatly with these ventures. Do not believe that bad business is better than no business Today our nation is experiencing very difficult times. Some will even state that although you lost money on a particular job that your name is still out there being networked and this makes the loss worth it, this is not always true in my book. Generally, the people who state this have very deep pockets and can afford the losses but for a struggling small business owner who has just started their business, jobs such as this can lead the company to failure. What causes bad business? Bad small businesses come out of a breakdown in the relationship between you and your small business. Through the misunderstanding of an expectation, you come to realize that often the expensive lawsuits result from jobs or transactions such as this; it is not worth it in the end to continually deal with bad business. You must adjust and learn from these deals, which have turned bad. It is obvious that no business is preferable to bad business. Bad business turns costly over time as well as time consuming and the bad publicity gained from this is horribly bad for business. Through determination on the part of your small business, you should never leave details up for chance. You must ensure all parties involved with business deals are in full agreement unless you want these dealings to minimize your customers as well as your income. Ruthsella Corasol is the Owner of http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Are You Above or Below the Average American Credit Score

Your credit score could be the key to many doors of opportunity in your life or it could be the curse that holds you back. Not only is your credit score the deciding factor in whether or not you get a loan, it plays an important role in the amount of interest you will pay your creditors. And, for better or worse, even small changes in your credit score can make a significant impact in how you are treated by lenders or even by potential employers.
The average American credit score is 692 out of 800 (according to Experian, one of the 3 major credit bureaus) which is considered on the lower side of "good credit" but can still get you a loan with a relatively good interest rate. However, the next highest credit level is 720. Once you reach this level, you are in the "excellent" range and can definitely qualify for loans and very often at the best interest rates available.
 That's why it's extremely important that you stay on top of your credit and maintain a grasp of how the scores work. Knowing your current status and setting goals for your future status can help you to save thousands of dollars in interest that you pay on your various loans. It is generally accepted that a credit score of over 620 will get you a loan. So if you are one of the people with the average American credit score, you can either be content with that and accept the fact that you are paying a little more on your interest rates, or you can start working on your credit to get it up to the level that will qualify you for lower rates. There are many ways that you can improve your credit score. First of all, the easiest way to establish better credit is to pay all your bills on time. How timely you are in your bill payments accounts for 35 percent of your total credit score. Another good practice is to try to keep low balances on your accounts. This aspect represents 30% of your credit score. A good balance to shoot for is to have 50% or less of your total lines of credit used up. Next, the longer your credit history, the better your rating will be if you have paid your bills on time. There is not much you can do to change the length of your credit history but you can make sure that your kids start out building good credit early so that they will have an advantage. Having many sources of credit is usually a positive factor, as long as they are all managed well. Your credit variability accounts for 10% of your score. Avoid signing up for many credit cards at once. This counts against you in your credit score. Limit your credit applications to what is really necessary and don't just sign up for lots of credit on a whim. Are you above or below the average American credit score? Either way, you have many opportunities to bring up and maintain a healthy credit rating. Ruthsella Corasol is the Owner of http://WorkingAtHome101.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.