Posts Tagged ‘Credit history’
NOT that bad debt forever. According to Suze Orman, author of the book Women & Money: Owning the Power to Control Your Destiny, several types of debt can be categorized as a good loan.
”Debt itself is not bad. The problem is how do you handle it. If you care about children, you should start caring about money. I would not be surprised if they eventually run into financial disaster because you give examples of wrong.”
According to Orman, parents who are unable to properly manage the family finances would have difficulty financing their children’s education. In addition, in the old days they could also be troublesome because the child has no savings for retirement.
Good vs. bad credit loan
Orman explains, the difference between good loans and bad loans is how it affects your ability to achieve financial goals. A good loan can help you achieve your financial goals, while bad loans will only bring financial problems.
”Knowing the difference between good loans and bad loans is key to achieving financial well-being,”said Orman.
Which include both loans to buy assets such as loans, like home or a mortgage, education or student loans, medical loans, as well as business debt. Meanwhile, a bad loan is an amount of money borrowed to finance the desire or depreciating assets like cars, credit card accounts, home equity, and so forth.
According to be categorized as a good loan, a loan must meet the following conditions:
1. Debt should be limited, without the ability to continue to increase. Meanwhile, revolving accounts like credit cards is the opposite.
2. The interest rate debt should be stable, at a reasonable and predictable.
3. Debt should have a number of regular payments that can be managed within budget and on time to avoid late payment penalties and penalty interest rate increases.
4. Debt has a purpose that is considered reasonable by most people.
5. Debt was issued for behalves something like buying a home or invest.
HELP by lending money to someone who is experiencing financial difficulties, it is good. Moreover, if the person is a relative or close friend of our own. However, if good intentions are actually misused – for example the person has refused to make payments – then what to do?
Lend money to someone close to us has always posed a dilemma. If not lent, it is not bad. But if the loan was, there is no risk money back.
To avoid such unpleasant situations, here are some questions you should consider before deciding to disburse funds:
Verify whether the person will be given a loan can be trusted. If the less likely the money you lent will come back, then it’s better just to give a fraction of that required, or not lend at all.
Conversely, if the person can be trusted, then you should consider giving financial assistance according to ability or just give you sheilas without hope will return.
If the person is counted to borrow small amounts of money, then you can wait until he has the consciousness of his own to return the loan. If he borrowed money to par was, it would not hurt if you occasionally remind her to make a payment (of course in a smooth and not too obvious).
Federal and state laws outline your responsibilities and liabilities, so you can’t claim ignorance when something happens. You will have to do some reading; nevertheless, it is better to spend 20 hours in the library than in the courtroom.
Have the Property Inspected – One of the best ways to avoid unexpected expenses is to have the property inspected by a professional before you buy it. Make Sure Your Leases Are Legal – If you make a mistake on the lease, you will find it more difficult to litigate if a tenant violates the terms.
Take the Time To Call References and Run Credit Checks – Too many landlords rush to fill a vacancy rather than taking the time to make sure the prospective tenant is a better option than an empty property. If you have time, you may want to drive by a prospective tenant’s current living space – that is what your property will probably look like when that tenant lives there. Join the Landlords’ Association in Your Area – Joining an association will provide you with a wealth of experience as well as sample leases, copies of laws and regulations, and lists of decent lawyers, contractors and inspectors. Some associations may even allow you to join before you buy a rental property.
Apply for credit cards
- Factors to consider when applying for credit cards
- Compare to get the best deal on a credit card.
- Investigates all major credit cards on the market. Check the conditions of each card and write them down organized by each criteria. This way you can compare all the offers according to market criteria. Order credit cards
- Check your credit history.
- There are several agencies where you can request your credit report incidents. You can also ask your bank.
- Find out the real interest credit card , APR
- Do not be fooled by marketing offers. Many times the public interest is an interest and launch a limited duration. Always look on the APR , never the nominal interest rate. Assures you that the annual interest rate is not monthly.
- Choose cards that some benefit.
- Always look for points cards or discount cards
- Keep a ” Relationship between Debt and Income “low. Order credit cards
- Always start with a low credit limit and upload as you get used to using credit cards .
- When filling the solcitudade tell the truth. If you discover any inconsistencies may result in the denial of the card.
- Do not apply for many cards at once.
Precautions to be taken into account free credit cards
- Pre-approved cards that offer a% of interest are often good opportunities, but before you sign should read the fine print carefully and take some precautions first, you must always keep in mind that the concept pre-approved is a marketing term, is impossible to give a card without studying your credit history, and this requires that you authorized.
- 0% interest has a limited duration, and often applies only to some type of transaction. Therefore it is important to read the fine print before
- Be clear about the period of application of zero interest, and to clarify whether you can cancel your debt during the period in which the interest is 0.
- It is important to understand everything about the commissions. If not specified, the contract clearly calls for information to your e clarifies all concepts you.