What are the minimum requirements for availing an offset mortgage?

An offset mortgage is one where you make periodic payments towards your mortgage amount by combining your savings account with your mortgage. This will ensure that your savings will be counted as More

What to Look For in a Local Financial Advisor

You may come from a place where everyone you know have their own financial advisor. Or you could come from a place where no one has ever heard of or used the More

Credit score

The often traps on your way of your credit score repair

When it comes to your credit score, you must be sure that you did your best in order to make all the situation work out for you at last. If you begin More

Bad Credit Score

What to do if you have a bad credit score

A credit report contains a wealth of information both positive and negative information, including basics such as your name, address, social security number, and employment history. Be sure and check that all More

CFPB Update: Payday Loan Crackdown

January 24, 2012   Aaron Verran   No comments

The CFPB’s mission is “to make markets for consumer financial products and services work for Americans.” It’s already begun targeting credit scores and credit card agreements, and now has set its sights on abusive payday lending practices.

So what does this mean and why is it important?

The CFPB understands that some consumers need the services of payday lenders. But the bureau hopes to hone-in on payday lenders with illegal practices, such as unauthorized debits on a borrower’s checking account and aggressive debt collection tactics.

  Tags: Cfpb, Cfpb Update

Raise credit scores with good financial management Posted By : Joy Mali M

January 23, 2012   Samantha Lindrum   No comments

Raise credit scores with good financial management – By: Joy Mali M

Credit scores make a huge impact in our personal and financial future.

Any debt left ignored or bills that you didnt settle all get reflected annually in a document that is easily accessible by various financial institutions and is used to base your financial credibility. This credit report is where your credit scores are reflected. The higher your credit score, the higher your eligibility to qualify for significant loans should the need arise in the future. Inversely, the lower your credit score, the lower your chances of being approved for milestone purchases such as mortgages, car loans or even something as simple as a credit card application.

With lenders, bankers and other financial institutions using it as a reference before granting important loans, its a piece of reference that strongly reflects your credit history and financial responsibility. Read Full Article…

  Tags: Joy Mali, Joy Mali M, Mali, Mali M

Credit Card Incentives Still Hurting Consumer Credit Scores

January 22, 2012   Timothy Prell   No comments


Consider the last time you signed up for a new credit card. If one of the reasons the card became attractive to you was because of additional incentives, you’ll need to realize the impact your decisions may be having on your credit score.

While the credit card industry has changed quite a bit in recent years, card companies are still willing to do what it takes to draw people in the door. Using rewards programs like free double airline miles or product giveaways at mall kiosks, credit card companies are still attracting the attention of consumers – some of whom should not be applying for any lines of new credit.

Personal financial experts tell consumers to pay careful attention to credit card offers. If your credit score is not in a good place and you apply for a credit card or two, you are actually going to trigger a decrease in the credit score you maintain. Thi

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  Tags: Credit, Credit Card

What are the minimum requirements for availing an offset mortgage?

January 15, 2012   admin   No comments

An offset mortgage is one where you make periodic payments towards your mortgage amount by combining your savings account with your mortgage. This will ensure that your savings will be counted as overpayments towards the credit balance on the mortgage amount. Since there is a reduced amount which is remaining as the credit balance on the mortgage, these offset mortgages also give you the benefit of saving on the interest which will be calculated and also make sure that you can avail tax benefits on the mortgage loan.

Therefore one of the most vital things that you need before you enter an offset mortgage is a savings account which you will later be required to consolidate with your mortgage. Following this, you will be needed to show proof of income along with a bank statement attesting a source of income even if it is not periodic like a salary. These are the only minimum requirements needed to avail an offset mortgage. Read Full Article…

  Tags: offset mortgage

Can IRS Garnishments Affect Your Credit Report?

January 14, 2012   Samantha Lindrum   No comments

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    Failure to pay your taxes can result in the Internal Revenue Service taking enforcement action against you, including a garnishment of wages. Garnishment orders can come from a judge or directly from the IRS. Wage garnishment greatly impacts your credit score and can affect your ability to obtain loans, the interest rate you receive on loans and even your ability to open a bank account.

      • Wage garnishment is commonly used by the IRS. Wage garnishment allows the IRS to collect a tax debt by deducting a sum from your monetary compensation such as the salary. IRS policies typically limit garnishments to 25 percent of your income after taxes.

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    Q&A: How do you prove Identity Fraud to all 3 Credit Reporting Agencies?

    January 14, 2012   Timothy Prell   No comments


    There are a few of points on my credit report that say I owe somebody for lease in 2003 in one more state that I did not live in at the time. The assortment company has my social # but say that I have to show that I was not living there. Now there is suspicious tackle becoming reported on one particular of my Credit Reviews as my Existing Tackle. How do I go about fixing this? And is it challenging?

    Ideal solution:

      Tags: Credit, Fraud Credit
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