Month : March 2017

Insurance

How To Obtain Car Finance With Bad Credit

Getting loan for car can be a bit tough if your credit score doesn’t present a positive picture. There are both traditional and modern-day institutes which are eager to lend money to potential car buyers. However, they weigh in all your risks and credit-worthiness before handing you the money and deciding the rate of interest. It can be really difficult to convince a traditional institute like bank to grant you car finance if you are running in bad credit. Even if they do grant you finance, they will charge you very high rates which can cost you a lot more money than you had prepared yourself for.

However, there are some modern day companies and dealers who provide low-interest car finance with bad credit. Nevertheless, your existing credit position will indeed play some role in deciding the rates and terms. So, here are some basic tips and advices which you should keep in mind:

  1. Scan through your credit reports: You must try to figure out the exact condition of your credit. It is always a good thing if you know exactly where you stand. Prudent thing to do will be to ask the major credit bureaus to submit you their reports. You can also go through them to find out the veracity of the statement. At times, errors may be committed by the clericals which can have a further negative impact on your credit rating. In case you find some anomalies, you can lodge an official complaint to get them rectified.
  2. Wait for some time: If you find that your credit rating will improve after the bureaus rectify their mistakes, then you should wait for the time being. In case, there is no error on the part of the bureau and your score is genuinely very bad, you can wait for a few weeks and try to undo some of the damages. You can clear some of your debts to get slight improvements in your score. Improvement in rating casts a positive impression on the mind of the lenders who will, thereafter, be willing to grant you finance at lower rates.
  3. Stock some money for higher down payment: While obtaining car finance with bad credit, you must be ready to part with a higher sum of money for a higher down payment. When your credit score is poor, lenders will not be ready to grant you higher loan unless you pay a very high rate of interest. But if you are willing to increase your down-payment contribution, then your bargaining power improves and rates also decrease.
  4. Make timely payments of accumulated debts: Your poor credit score reflects your inability to clear your debts, which must have accumulated over the months. It’s time that you start clearing some of those debts. It will be wiser to pay 5 smaller debtors instead of paying 1 big debtor.
  5. Hire a cosigner: Another wise move will be to take car finance with the help of a cosigner whose credit rating is positive. That cuts down the risk factor and helps you secure low-cost loans. 
Money Management

2010 Goal Check Up

Bully

You are just over the mid-point of the year! How do your goals look?

Because you are trying to be a financially responsible person with realistic-but-potentially unmet 2010 New Year’s Resolutions about getting your finances in order, it is now a good time to assess your progress to see if your goals have been met, how far along you are with your program, or if you need to re-commit to financial health at this time, which is approximately the mid-point of the year 2010, when you should be making progress on your 2010 financial plans!

Here are some fresh steps you can take when evaluating the progress you have made during the past 7 months. Look at your goals with an eye to deciding what was an effective change in your financial life, and where you would like to see additional change and growth in the remaining 5 months of this year.

Evaluate Your Record Keeping

You have learned that effective records are the main tool that you can use to chart your financial progress. Are you keeping accurate track of the money flowing in and out of your life? Are you pleased with what you see? Decide if any changes need to be made in the methods you are using to keep your finances on track.

How Is Your Budget Coming?

Are you able to stick to it? How are you coming with curbing impulse purchases that do not show up in the line items but which blow the budget out of the water when allowed to continue unchecked?

How Are Your Savings Goals?

Are you sticking to the savings percentage that you decided on in January? If not, why? Was it reasonable in the first place, or too optimistic? What can you do to get yourself on track?

If you could say anything to yourself about your current financial life, what would it be?

What ongoing steps do you see as possible when planning your changes?

What sort of “Buy-In” to these changes will you need from the important people in your life?

photo credit: trix0r

Mind Over Money

Thursday Quick Tip: Quit Smoking Today

I just want to give you a quick tip today that will affect your health as well as your wallet. Quit smoking.  Yeah, I said it, quit smoking.  It can add up to quite a bit of costs now as well as in your future.  Think about all of the money you spend each week, month, and year on smoking.  It is a lot of money that you could use toward debt or even vacation.  That would be pretty nice wouldn’t it?

And in the future when you are in the hospital because you need help breathing, its not going to feel too hot then will it.  Also it will cost you a huge chunk of change just to live.  So stop.

Smoking also affects your loved ones because they don’t want to see you on your death bed.  It is going to hurt them a lot when they see you suffering because you wanted to smoke. Next time you take a puff, think about your future loved ones or your loved ones now that are going to suffer because you wanted to relax a little; it just isn’t worth it.

If you do want to continue smoking, let me know in the comments below why you are making that decision and maybe we can converse back and forth a little.  You may change my mind or maybe I’ll change yours; we’ll just have to see.  This week’s quick tip, stop smoking.

Money Management

How Consultancy Can Help in Selecting the Right Health Insurance Coverage

In many countries where the government does not subsidize health insurance, there is added pressure for citizens to be able to pick the policies that suit their needs. Between worrying about the coverage and the price of the policy, there are plenty of things that can go wrong in the selection of any specific private health insurance policy and this highlights the necessity for prospective policy owners to learn as much as they can about health insurance selection and all the important considerations that come with that process. 

Unfortunately, not all of us are experts in insurance policy selection and aspiring to learn as much as we can about all the facets of health insurance in a relatively short period of time is something that is close to impossible. Thankfully, there are websites that are dedicated to making sure that you are ahead of the health insurance policy selection process. A good example of this type of website is Choosi which allows you to compare health insurance in Australia. 

If you are in the market for health insurance coverage, it would help to get in touch with health insurance experts like Choosi. These websites will summarize the pertinent health insurance policy attributes so you can look at the offers side by side. It condenses a number of all the important factors into an easy-to-read table showing premium pricing, coverage, and limitations between and among a range of health insurance brands so you have something to go by in your selection process. 

If you are confused with all the technical terms that are built into health insurance policies or you just need somebody to explain the whole process to you, sites like Choosi simplifies information so you gain a very clear understanding of the process. So if you are serious about getting the right coverage without having to overpay for your medical coverage, take the time to consult with the health insurance experts on the web. They will guide you through every step of the process and present the information in a clear and unbiased manner so at the end of the day, you are provided the information that you will generally need to make a decision.

Debt Management

Solutions To Getting Out Of Debt

It is a sad fact of life today that many people suffer from debt problems as a result of the financial squeeze and recession. Whilst in the bad old days the only option for escaping debt was bankruptcy, these days there are better and more tailored solutions to help get individuals or families back in control of their finances.

For those with debts of less than £15,000 a wide range of options and support exists to help solve the problem. Companies such as payplan.com can help to work out a debt management programme that works within your budget and is acceptable to your lenders. There is no need to even consider bankruptcy as an option when skilled help is on hand to find a workable solution to making ends meet.

For those with debts in excess of £15,000 it may be advisable to consider an Individual Voluntary Arrangement (IVA). This plan was introduced in recent years to help people to avoid bankruptcy and work out a structured and legally enforceable debt management plan between lenders and borrowers. It may be that at the end of the IVA period (usually 5 years) any remaining debt can be written off. This has to be arranged through an authorised insolvency practitioner but companies such as payplan.com have a number of professionals on hand to talk through your options and arrange the best plans to ease your debt problems.

So whether your problems come from mortgage arrears or credit card borrowing there is generally always a way to get back in control and rarely the need to consider bankruptcy. This really is the final resort to clearing all debt problems but can have many long lasting and penal consequences for your job prospects and future credit rating. Whilst an IVA may impact your credit rating and make borrowing more difficult, the details are not published and no one need know unless you choose to tell them. If considering bankruptcy then get free advice before you act from any debt management company such as payplan.com.

Whilst problems caused by debt rarely go away unless you take positive action, help is at hand and free advice is available so you can always know what your options are. In addition to payplan.com free advice can be sought from your local office of the Citizens’ Advice Bureau. Avoid bankruptcy and act today to sort out your debt problems fast.

Most lenders would rather have you repay over a longer period than not at all. That means that monthly payments can be eased by arranging with them for a reduced amount over a longer period of time. If you have a number of lenders then looking at a debt consolidation loan or using website providers such as payplan.com can ease the burden of liaising with them all to get a manageable plan in place.