Monthly Archives: January 2009

Better alternatives of repairing your credit without applying for a new loan

People with good credit ratings will find a lot of attractive offers from a variety of lenders when applying for some kind of loans or credit cards. Those who have poor credit ratings often face a lot of difficulties in obtaining new loans or credit cards. It is because of this reason they keep on applying for new loans from almost all kinds of lenders and pay exorbitant interests and fees to pay off their existing debts and avoid future credit problems.

Many people have damaged their credit by applying for loans one after the other. While some of the present financial problems can be resolved by taking a new loan, but it will lead to further poor credit problems down the line. By taking out a new loan, you might be able to consolidate all your existing debts under one monthly payment and improve your credit ratings. This method will usually mean increasing the overall amount of the debt, and if the monthly reductions are not sufficient to have a major impact on their outgoings, then these people usually find that they can still not afford to keep up all of their repayments, but now have much larger balances to worry about, this will surely lead to further poor credit problems down the line.

While applying for new loans is common for people with poor credit, there is a solution to overcome this problem. You may enroll into some kind of debt management plans or an individual voluntary arrangement that can ease the pressure of paying off the debts without further damaging your credit ratings. You will be able to combine all your bills under one monthly payment in the debt management program at lower interest rates and this all can be done without borrowing a new loan. You may call your credit card company and work out some kind of payment arrangements with them. Be upfront and explain your financial situation. Show them that you have all intentions to pay the debts but you want to pay something that you can easily afford. Make sure that you offer them a realistic payment plan. Do not push yourself into making larger payments that you cannot afford later just to win the trust of your creditor. If you cannot negotiate with your creditors, you may hire a debt consolidation company to talk to your creditors and work out a suitable payment plan.

A good debt management company will contact the creditors on your behalf and explain that you are unable to meet all the financial commitments made with them. A professional debt counselor will go through your debt situation, analyze your income and expenses, and review each account carefully before placing any proposals to your creditors for reducing the interest rates. There are many reputed debt management companies who have a wealth of experience of helping people come out of debts. Once the debt management company has started to deal with your creditors, you don’t have to talk to the creditors anymore. They will represent you in front of your creditors on all kinds of situations.

How to find the perfect car? Seven important tips!

Most of the American have a deep love for an automobile. If you are planning to buy a new automobile, there are many places to find the wheel of your dreams. Here are some tips for the automobile lovers so that you can buy a good vehicle for yourself.

Match your personality: It is very important to have a car of your choice. Know the things that you want to have in your car. This is a car that you will be having for a long time and you must make sure that you are driving it with comfort.

Consider theft prevention: Check with the National Insurance Crime Bureau to find out the cars that are often stolen. If you are planning to buy that model, make sure that you have a strong theft protection system in your car.

Lemon aid: You should check with the National Highway Traffic Safety Administration to know the vehicles with most consumer complaints. This will help a lot in your decision making.

Think ahead of time: A vehicle is a long term investment. If you are a single and are planning to get married sometime in the future, you may consider a bigger car, with plenty of space in it for the baby strollers and playpens.

Keeping an eye on the gas prices is important: Gas prices are rising up frequently and it is very important that you have a car that is fuel friendly and does not hit strongly on your budget.

Your car should have the value when you need to resale it: You must consult with the Consumers reports to know the resale value of your car that you are planning to buy.

Narrow your options: As you are getting close to the date of purchase, peruse all the options on the car and streamline it according to your requirements. This will help you in getting the suitable car according to your needs.

You want to make sure that the car that you purchase gives you the real value of your money. These seven tips will prevent you from making a big mistake.