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Bad Credit History is a hurdle that can be overcome

There is nothing new in people in debt with a need of a solution; it has happened for centuries. It is just that there are more solutions to the problem these days in the form of advice and guidance and more lenders willing to provide loans with no credit check to help debtors.

A household may have a number of different liabilities with the mortgage usually the largest of them. Mortgages are generally of a term and interest rate that mean they can be repaid over a long period with the interest rate reflecting the length of the term.

However short term debts in the form of credit cards and personal loans may mount up if a family is not on its guard. It is perhaps the credit card that is the most dangerous because it is convenient and there is a minimum repayment each month. On the surface that minimum payment may not be a problem but if that is creating balances incurring high interest it certainly is.

As difficulties arise, a household which looks at its financial affairs may need independent advice and there are counselors who can provide that advice. There are also loans with no credit check which may be a means of consolidating existing loans and credit card balances into one monthly repayment which will remove the credit card balances and include other existing liabilities. While this single payment may increase the monthly outgoings, it may also remove the credit card balances completely.

Certainly loans with no credit checks incur a higher rate of interest than those approved for someone with a good credit score but they are far cheaper than the money credit cards companies are advancing. If a family has equity in a property as well as regular monthly income, lenders will look favorably on the application.

Such a loan is secured against the equity but here the applicant is only a tenant, loans with no credit check will need more examination before being approved. Proof of permanent employment goes part of the way to persuading a lender to advance money but applicants will need to display an ability to make the monthly installments.

A consolidation loan can change the whole appearance of the monthly budget of course and if funds are sent directly to the credit card companies clearing debt, perhaps the best course of action is destroying the card or cards to avoid the temptation of repeating the easy credit route and building up balances again. In time there will be no need for loans with no credit check because the family finances can be restored to an even keel.

What is an IVA and How Can it Help Solve Your Debt Problems?

Short for Individual Voluntary Agreement, an IVA is a special legal agreement that can be taken out to help an individual in debt. An IVA works in two different ways. Firstly, the agreement helps the person in debt agree a manageable repayment strategy with the creditor. Secondly, the fixed term of an IVA means that any remaining debt will be written off once the agreement comes to an end. If you’re struggling with unmanageable debts, an IVA could help you to reduce the personal and financial pressure of debt. Let’s take a look at IVAs in more detail, exploring when this type of agreement might be a suitable measure.

Individual Voluntary Agreements can be a lifesaver to people struggling to keep up with hefty debt replacements, helping you to get your finances back on track. An IVA works by renegotiating the terms of a loan repayment with the creditor and limiting monthly repayments to an affordable amount for the debtor. IVAs are typically arranged by insolvency practitioners, also known as IPs. They are legal professionals who mediate between the creditor and the debtor, setting out the terms of the agreement and ensuring that both parties uphold the contract.

How Does It Work?

The IP will fix a suitable repayment rate, based on the client’s salary and assets. An IVA generally lasts for five years, although the duration of the agreement can vary if the debtor’s financial circumstances change. During the agreement, the loan provider is not allowed to ask for more money or to break the terms of the agreement. Once the pre-arranged IVA period is over, the creditor agrees to write off any outstanding payments, enabling the individual to walk away debt free.

An IVA may sound like an attractive option if you’re suffering with the burdens of unmanageable debt. However, it’s important to remember that an IVA is not an easy way out of debt. If you’re concerned about increasing strain on your finances due to debt repayment, you should speak to a financial advisor with legal training who will be able to help you assess your options.

When taking out an IVA, you will be subject to a financial assessment that will take into consideration your salary as well as savings, shares and other financial assets. Property and investments are also likely to be taken into consideration, meaning that the terms of an IVA could require you to re-mortgage your home. For this reason, an IVA is not to be entered into lightly.

Another Way

For many, an IVA provides a sensible alternative to bankruptcy, significantly lowering debt repayments and cancelling outstanding debt after a few years. Moreover, individuals who enter into an IVA are less likely to experience the financial and legal restrictions imposed by bankruptcy. However, for those whose financial problems are less serious, a debt management programme (DMP) could be a more suitable alternative. Offering the same lowered repayments, a DMP can help to manage finances, but it does not write off debt at the end of the fixed period like an IVA. In addition, a DMP offers the creditor greater room for manoeuvre, meaning that you may be required to increase your repayments unexpectedly.

Whilst an IVA is an excellent scheme for those who have fallen into financial difficulty due to a change in circumstances, such an agreement should be a last resort and is not suitable for everyone. Your financial advisor will be able to provide more information and help you assess the options.

This guest post was written by Francesca on behalf of IVA Expert. If you’d like more information about IVAs, you can read more by visiting their website.

Bad Debt Personal Loans to Escape the Financial Whirlpool Called Bad Credit

You may think that your bad credit history will prevent you from getting a personal loan from a trustworthy lending company. Nowadays, there are many lending companies which can help you solve your monetary problems. You have to understand that having bad credit is not the end of the game. You still have chances to borrow money from a trustworthy lending company. What’s great is that private financing companies provide their customers with bad debt personal loans. As their name says, these loans were specially engineered for those people who want to get rid of debts.


Maybe you would like to know that bad debt personal loans represent the perfect option for those people of whose credit score is damaged. In case you didn’t know until now, your credit score can be affected by late payments, skipped payments and bankruptcy. Most people would say that their bad credit will never allow them to get personal loans. Luckily, private lending companies can help them solve this problem.


Take your time and Choose best offer


If you really want to escape the financial whirlpool called bad credit you will have to take your time and evaluate the offers which are provided by different financing institutions. Don’t even dare to think that you will have to visit the office of those lenders which are located in your local area. Nowadays, the online world provides you with the opportunity to compare the offers which are provided by different lending companies. You will surely be surprised to see how many lending companies provide their clients with bad debt personal loans. Take your time and research your options. You will surely find a lending company that does not require you to pay a high interest rate. Where to say that you have all chances to find a lender that provides its clients with the opportunity to benefit of convenient repayment terms?


However, it is highly recommended to sign the contract with a lender that provides its clients with guaranteed approval. In this way you will improve your chances to get the needed funds in a relatively short period of time. Maybe you believe that getting an instant personal loan with bad credit is a difficult task to accomplish. Please understand that your bad credit history will never prevent you from getting the needed funds in a relatively short period of time. Just make sure that you don’t forget to pay attention to the interest rate that’s charged by your lender. Take your time and search for a company that charges its clients with a low interest rate.


The main problem is that there are not too many people who know exactly where they can find a company that offers bad debt personal loans. The internet can help you find such a company. You will just have to ensure that you choose to sign the contract with a company that is able to help you solve your financial problems. Please understand that by getting a bad debt personal loan from an online lender you will be able to solve your monetary problems in less than 5 hours.

How to repair your credit debt burden and be free from schemes and scams?

Valerie Anne B. Reyes is an in-house writer from Franklin Debt Relief, a company specializing in programs for people with high credit card debt.

Your credit score should be something that you take very seriously. A good credit score will open many doors that those with poor credit will not have. Only those with the highest credit scores can qualify to purchase a home or get an equity loan. Good credit is also a must if you wish to apply for an unsecured loan. Therefore, it is wise to understand exactly what you are doing when attempting to repair your credit.

Repair Your Credit On Your Own

It is much better to repair your credit by yourself. This is because you are not likely to pressure yourself into taking actions that will cost you a lot of money. Another reason to repair your credit on your own is because sound financial decisions are the only way to repair your credit score.

You Don’t Need To Pay Someone To Pay Your Bills On Time

Paying your bills on time is as easy as setting up automatic payments. Simply have your bank take the money out of your account on the same day each month. The money will then be sent electronically to your creditors. You cannot forget or resist making a payment when it is taken out automatically. Paying your bills on time is the easiest way to repair your credit score.

Find Ways To Lower Your Debt Burden

Reducing the amount of money you owe to creditors will increase your credit score. There are many ways you can get out of debt all on your own. Consider getting a second job that will give you an extra source of income. This income can then be put toward your outstanding debt. Consolidating your debt can lower your interest rate. A lower interest rate will result in lower payments each month. Lower payments allow you to pay more of your balance off each month. You don’t need a fancy service to help you figure that out.

Open Lines Of Credit

Applying for a new credit card can help you increase your credit score. All it takes to apply for a credit card is the ability to fill out an application. You don’t need to pay anyone to give out your social security number as well as some other basic information. Getting approval for a new credit card will increase your available credit. Secured credit cards count toward your available balance as well. Consider this option if you are just starting your credit repair journey.

Dedicate yourself to solving your own credit issues. There is no magic pill that will magically eliminate your debt for you. No magic wand can magically restore your credit score to a higher level. That only comes through hard work and common sense financial decisions. Take steps that will lower your debt in an effort to make yourself more attractive to lenders. You will soon see that your credit score is where you want it to be. Don’t be fooled by those who claim to be able to restore your credit overnight.

How to Pay Back Less Than You Owe On Your Debt

Some people may find themselves in the unenviable spot of having too much credit debt. However, there are ways that you can pay back that debt for less than you owe. Following some of these strategies can save you money while allowing you to pay off your debt. How can you get your creditors to accept less than what you currently owe?

Offer A Debt Settlement

You should consider offering a debt settlement to your creditors. Doing so will enable you to pay only a fraction of your debt. This could take your massive debt and lower it to something more manageable. Paying off your debt settlement in a lump sum can wipe out your debt with one payment. Your creditors may also be willing to allow you to pay off a settlement over a period of time.

Go To Credit Counseling

Enlisting the services of a credit counselor could be what you need to reduce your debt. Some debt relief services can negotiate a reduction of your debt with your creditors. Find a service that has good connections with the major credit card companies. Also try to get your interest rate reduced if at all possible. Your creditors will most likely prefer to slash your interest rate as opposed to forgiving a portion of your debt.

Why Is an Interest Rate Cut Worthwhile

Paying less money each month in interest is going to help you pay down more of your principal balance each month. The ability to pay down your actual balance each month will help you pay down you debt faster. Any money that you give to your creditors that is not going toward the principal balance is just more money in their pockets. Avoid paying as much interest as possible.

Consolidate Your Debt By Yourself

Merging all your credit debt into one monthly payment can also save you from paying too much interest on your debt. You can save yourself hundreds of dollars each month just by completing a strategic balance transfer. Transferring your debt from a high interest credit card to a low interest card can significantly reduce your interest.

Never pay your entire debt balance if you cannot afford to. Your creditors are more than willing to accept a deal that will pay them less than what you currently owe. Reducing your debt balance can make it easier to finally get your debt under control.

This following guest article is from:

Why Use a Loan Repayment Calculator?

The home loan repayment calculator is a valuable tool when figuring out a loan amortization plan and what your monthly payments will be. Of course, it’s also important to realize that this calculator will only give you an estimate and it’s not the final say. For a more accurate figure it’s always best to meet with your mortgage broker, banker or financial lender who will figure in all the additional costs such as taxes and fees, as well.

When using an online home loan repayment calculator, or financial calculator, you’ll have to understand how it works so that you’re fully aware of the figures you need to punch in, and what the tally of those figures means for you.

Your “Monthly Loan Repayment” will be the amount of money you’ll need to repay for your home loan each month; which includes paying on both your principal (the actual price of the house you are taking out a loan on) plus the interest. If you have chosen a fixed rate home loan, you’ll end out paying the same monthly repayment and interest rate during the entire life of the loan. There are many benefits in this type of loan, such as stability should interest rates balloon, and less of a down payment. Bear in mind when using a home loan repayment calculator to get an estimate of your monthly payments that the figure you get does not include property taxes, any insurances, and fees. This is why it’s imperative that you count on talking with your mortgage broker or a lending institution for an accurate representation before making a final decision.

To understand the difference between paying on your principal and paying interest, think of it like this. During the beginning years of your home loan, most of your monthly repayments will go towards paying off the interest. Interest is the fee you’ll pay to the lender for letting you borrow the money. As the life of your loan goes further along, you pay off more of the balance, and your monthly payments towards the principal get more and more, helping you, the buyer, to build equity in your home until the loan is completely paid off.

Using an online home loan repayment calculator allows you to figure out a general figure on what you’ll need to repay on a number of different potential homes or possibilities. It’s a great tool for helping you to figure out a general repayment plan, and it can also give you a good idea of what you’ll want to put down for a cash deposit. It’s important, especially if you’re a first time home buyer that you realistically calculate what you can afford to put down for a deposit on your home, as well as what you can afford to repay per month. Lenders often won’t want the borrower to use more than 40 to 55 percent of their monthly income to pay on their mortgage. So, check with your preferred lending institution to find out what they’ll allow.

Confessions Of The Average American Consumer

Sadly for the average American consumer, the recent economic downturn has highlighted how poor our everyday financial management has become.

Living Within Your Means

It appears that in the space of a generation, we’ve lost all the good common sense and financial principles that our parents and grandparents used to display.


The generation before us practiced frugality and ‘living within their means’. These post-war babies avoided debt and saved for what they wanted, avoiding luxuries and taking pleasure from life.


This generation has grown up with a very different ethos. Aspirational lifestyles and the belief that luxury and celebrity status is something we all deserve are commonplace, with credit card limits to match.


High interest loans, the array of expensive credit cards, endless payment terms and hire purchases for cars and costly items we can’t afford. Mortgages and rent beyond our means and designer clothes designed to impress.


We’re all now suffering the consequences of living beyond our means. Consumer images, marketing, advertising and ‘reality TV’ have all played a part in increasing our expectations and desires.


Sadly, wages and income haven’t kept pace and for many of us and debts have spiralled into problem levels. Individual credit and store card balances once totalled, become huge.

The reality 

We’ve stopped cooking from scratch, instead choosing to buy expensive ready meals. We’re often too busy to hunt down better prices, so we shop for convenience and pre-packaged goods.


We drive everywhere, rather than walk or cycle and believe that our children really need to wear designer baby-wear to give them the best start in life.

Time to Act

Now, reality is upon us and lifestyles have to change as the reality of the credit crunch and national debt has led to a shocking and often painful shift.


Households everywhere are finally realizing the need to start saving like crazy, paying off debts and learning the skills that our grandparents once demonstrated.


Website forums abound with tips to save money, with consumers urged to bring out slow cookers, switch off lights, join purchasing co-operatives, use vouchers and take ‘staycations’.


The process has been hard to adjust to, but at the same time, it’s interesting to see how the simpler, non-debt ridden life is being embraced by increasing numbers of people.


A return to simpler pleasures and less purchasing and consumption may yet see an increase in family time, exercise, fun, social events and community spirit.


Rather than chasing down prestigious jobs, which might later be lost, perhaps more people will aspire to own less.


Already, large numbers of educated people are escaping the modern consumerist lifestyle and opting for a simpler, more old-fashioned way of life based on self-sufficiency, family and community.


It will be interesting to see what the next generation brings – those who have lived without want, then through recession and with a passion for green issues and protecting the environment.


Perhaps our children will be less inclined to consume and accumulate and more likely to return to the kind of genuine riches that a happy, balanced life leads to.


Article provided by, click here for great deals on personal loans.


Accrued debt due to retirement expenses? You can eliminate them

to go for holidays, movies, visit your family and long time friends, and cherish every single
moment of your retired life. In short, it’s the time of your life that you had always dreamed
of. However, all along the way you hardly realize that your retirement expenditures have
actually escorted you to a lump some amount of debt. If your spending habit after retirement
has got out of hand, there are options available to help you get out of debt. If you are
making payments to various creditors, debt consolidation programs could help you manage
your debt payments. With this, you are required to make a single monthly payment and your
rate of interest is also reduced. Consequently, your monthly payments also get lowered.
However, if you feel that your debt isn’t much of a problem and it isn’t too bad either, you
can fix it yourself.

Following are a few mistakes that you should keep in mind while trying to mend your
retirement spending debt.

1. Do not just make the bare minimum payment on your credit card debts. If you use
a surplus amount of your fixed credit on the credit cards, it could have a negative
effect on your credit report. When you make the minimum payments, it can in
actuality enhance the amount of your debt that you need to pay off.

2. Beware of counselors who ask over for payments before your work is done. Refrain
from credit counselors and companies who charge lofty fees and don’t execute their
tasks properly.

3. Avoid falling into the snare of obtaining high interest loans in order to pay off loans
with lower interest rate. A single payment might seem quite unproblematic for the
time being, but your payments will increase because of the huge amount of interest
you are gathering.

4. Consider bankruptcy as your last resort. Often people fail to realize that settling their
debts would be much beneficial for their economic troubles. Except for situations
where bankruptcy is absolutely unavoidable, do not go for it since it remains on your
credit report for a very long time.

5. Avoid depending on your family and friends for economical help. It could do some
lifetime damages to your relationships.

It is advisable to consider the above points while you attempt to settle your retirement
debts. Don’t be scared to take pleasure in your retirement, but be careful of getting into an
overwhelming amount of debt. Stay responsible and pay your debts off by cutting on few of
your unnecessary expenditures.

Non profit debt relief

Debt is a word that no one really wants to hear, and having or getting into debt is something that no one wants to deal with. However, in many cases getting into debt is unavoidable.

Buying a car or a house is usually the starting point in the steady downward motion of going into debt. For some, after that initial step, it is hard to stop. Without meaning to, those people get into a lot of trouble.

Getting into debt on your own is fairly easy, but getting out of debt on your own is much harder. Finding non profit debt relief can help you get out of debt faster and help tone down the stress levels in your life. Avoiding mail and phone calls about money you owe will not make debt problems go away.

Non profit debt relief can help you by reducing monthly payments, interest rates, late fees, and over limit fees. It can also help you to combine your bills into just one monthly payment. Having just one monthly payment can help you keep better track of what you are paying off and how far you still have left to go.

Choosing the right non profit debt relief management company can seem scary because you have to be able to trust them with your debt information. To be sure you are going to the best businesses check to see how they are making money. The most obvious way these businesses make money is through donations. These are usually good because they have an obligation to help you get out of debt and turn your life around.

If you need to get out of debt, deal with the problem and get help sooner rather than later. Dealing with the problem sooner can help you get out of debt more quickly and even help you save money in the long run.

Empty commercial property rate relief must stay

Empty property tax relief needs to remain in Scotland, it has been said.

Empty commercial property rate relief should remain in Scotland in order to help the industry, it has been said.

The Scottish Property Federation (SPF) has called for the rate relief for vacant premises to remain, saying the fragile economy would not be able to cope if this was to be scrapped.

Director of the SPF David Melhuish has said the Scottish government must do all it can to encourage business to prosper and this includes taking away the vacant property development tax.

He spoke following the news that the number of businesses for sale dropped in the first three months of the year by 50 per cent.

This takes property investment totals to £401 million for the first quarter, down from £828 million during the previous three-month period.

The transaction this year are also 25 per cent lower than that seen during the first quarter of 2010 at £610 million.

Mr Melhuish said if the rates were to be reinstalled for empty premises, which would impose full business taxes on unoccupied properties, this would affect areas that are already economically disadvantaged as this is where most of the empty real estate is.

He noted that this move would therefore have an impact on smaller companies looking to buy a business the most, saying: “Empty rates would be a tax on hardship at the worst possible time.”

Mr Melhuish stated the government must be “careful not to penalise failing businesses during this prolonged economic downturn”.

The property expert recently looked at England as an example of what would happen if rates were reintroduced, saying it has “been catastrophic” for the nation.

As a result of the change south of the border, many buildings have been destroyed as smaller businesses have not been able to keep up their tax payments and therefore the properties had to be demolished.