Some Money Saving Tips

October 21, 2008
  • Retirement saving may be the ultimate goal; it’s not always a motivational one. Break long-term goals into chunks. Find the saving goals that can be completed in just a few years.
  • The trick to becoming an effective saver is identifying with a saving goal that provides you with the motivation needed to get the job done.
  • Don’t think of the money you spend as a percentage of your total income. Think of it instead as a percentage of your potential savings.
  • This is straight from your Money or Your Life. Time literally is money. Each dollar in your paycheck represents some amount of time it took for you to earn it. Figure out how much time a dollar is actually worth to you, and you can begin to see your expenses in a whole new light.
  • Think that you’re not just saving to be able to do what you want at the end of your life, but to also to be able to do the things you want today.
  • Its been said that always save for the right sorts of reasons those which are life-enhancing reasons and you will no longer think of saving as miserly.


Bankruptcy

October 17, 2008

Bankruptcy

When an individual cannot pay their debts as they fall due it is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. Creditors may file a bankruptcy petition against a debtor (“involuntary bankruptcy”) in an effort to recoup a portion of what they are owed or initiate a restructuring, bankruptcy is initiated by the debtor a “voluntary bankruptcy” that is filed by the bankrupt individual or organization). If you are ever faced with the prospect of bankruptcy you should look at alternatives as soon as possible such as the.

Implications of bankruptcy

You lose control of your assets and cannot obtain credit for over £250 without the permission from the lender. You cannot act as a company director and cannot take any part in the promotion, formation or management of a limited company (LTD) without the permission of the court. The person cannot trade in any business under any other name unless you inform all persons concerned of the bankruptcy. The person may not practice as a Charted Accountant / Lawyer, and also may not act as a Justice of the peace (JP). The person is also unable to become a member of parliament. And also may not become a member of the local authority. The credit is affected for many years after the annulment and may be publicly examined in court.

Advantages of bankruptcy

For the person involved, bankruptcy provides relative peace of mind and possible automatic discharge after one year or less in some cases. For the creditors, bankruptcy allows a full investigation of the debtor’s affairs to be carried out.


Bad credit

October 16, 2008

Bad Credit:

It is a condition in which a borrower’s credit history is affected by CCJs(County Court Judgments) CCJs occurs when the borrower is not able to pay its debt. IVAs,( Individual Voluntary Arrangements) IVAs is a formal agreement between the debtor and the creditors. An IVAs’ proposal sets out how the debtor is going to repay the creditors, usually over a period of five years. Some other conditions are like defaults, late payment, bankruptcy (Bankruptcy is a legally declared inability or impairment of ability of an individual or organisation to pay their creditors) etc.

Here are some tips to Repair Bad Credit:

Try to pay all of your bills on time. Don’t go for a late payment because late
payments that are 30 days late or more gives a negative effect on your credit
rating. Reduce the number of credit cards you carry. Write to your creditors to request that they close your accounts and report this status change to all three credit-reporting agencies. Request in writing that your creditors reduce the credit limits on your accounts to lower. Get a secured credit card to help reestablish your credit. You will have to keep a designated amount of money in an account that will be sufficient to cover your charges. Make payments on time .Avoid bankruptcies because a bankruptcy stays on your credit report for up to 10 years. Also avoid tax liens which are for not paying state or federal income taxes or property taxes, and collections because collection accounts and paid tax liens stay on for seven years, and unpaid tax liens will haunt you forever. Get a yearly copy of your credit report to catch any errors.


Clear your bad credit with a Personal Consolidation Loan

October 12, 2008

Clear your bad credit with a Personal Consolidation Loan

There are many a ways to clear your bad credit (as a credit mess excess credit cards and other unsecured debt) one of the great way is a personal consolidation loan. A personal consolidation loan has been the reason many people have been saved from having to file for bankruptcy, as soon as you will start your new lone program the easier it will be for you to start straightening out your finances again. It works by paying all of the current debt which gives a reflection all of your accounts as paid in full. In place of this the debater gets one lump loan at a lower interest rate than you were currently paying to all of your debtors.

It is a very simple it needs a easy paper work and simpler and easier to fill out than the paperwork at a traditional bank or lending institution. If you don’t have enough time for long lines for your working schedule, then the online entry option is the best option because, the online entry of this form is having only one page, the fields indicated in that has to be filled and after filling when you submit the form the information is retrieved by the lenders.

Before applying for personal consolidation loan online you first identify your own needs. That what you are looking for, means which type of loan you are looking, for what purpose you are need that, check that the loan you are taking is secured or unsecured, and understand all terms and conditions. Once you have made your own list of needs, you can find an appropriate lender. If you are having any problem or unable e to understand that what a particular lender is asking you can email them to make things clear.