Consumers Advised That Credit Applications Must Be Truthful
Posted on May 20, 2008 - Filed Under Finance | Leave a Comment
In a world where credit is increasingly difficult to come by, consumers have been urged to resist the temptation to include falsehoods in applications for cards or loans.
According to David Kuo, head of personal finance at the independent advisory service the Motley Fool, the growing number of people who are lying on their credit card applications are doing to because many more banks are now looking to avoid providing finance to customers perceived to be more of a risk. His comments came in response to a recent study by the UK fraud prevention service Cifas, which found that there has been a 13 per cent increase in the number of people who are making untruthful applications for personal loans, insurance products or credit cards in the first quarter of 2008.
Read More..>>Mortgage Loan Approvals Fall By Half
Posted on April 28, 2008 - Filed Under Business | Leave a Comment
With widespread concerns over the stability of the housing market escalating in recent months, new statistics have shown that approval rates for mortgage loans fell by 50 per cent during March 2008.
According to the British Bankers Association, figures for all major high street banks showed a downturn in the availability of mortgage loans, with personal loans also being reported as weakening. Total figures for mortgage lending among all major banks stood at 5.1 billion pounds, down from 5.5 billion pounds in February. This amounts to just 35,417 new mortgages being approved during the course of the month, an 18 per cent decrease from the previous month. Consumer credit approvals also fell by 200 million pounds to stand at 500 million pounds.
Read More..>>Keeping Your Credit Clean When You Are In Financial Trouble
Posted on April 22, 2008 - Filed Under Health and Fitness | 2 Comments
It can be a very difficult thing to deal with, whenever you’re having financial difficulty. Before it gets too out of hand, however, you should take some steps to make sure that you are keeping your credit clean. Even though it may be tempting to take a few shortcuts and skip paying some of your bills, clean credit can not only help you to get out of financial trouble, it can keep you from getting into it again.
Read More..>>How To Build Up Your Credit Quickly
Posted on April 22, 2008 - Filed Under Finance | 1 Comment
If you have run into a financial problem of some sort and ended up lowering your credit score, there are some steps that you can take in order to build it up quickly. Not only can you build it up, you may actually be able to take it to a new high if you follow all the right steps. Here are some of the first steps that you need to take.
Read More..>>Free Instant Credit Report
Posted on March 5, 2008 - Filed Under Finance | Leave a Comment
Everyone should understand their credit report and apply for a free instant credit report online. Items contained there are the most important determining factors for a loan, getting an apartment, obtaining a good credit card, and much more. The credit score you have will tell your potential lenders information about how you handle your financial business.
Credit reports are what all lending companies and banks use to decide whether an applicant is worthy of a loan from them. Applicants who have a history of not paying their debts on time will most likely repeat the scenario if they are given another loan. This makes applicants undesirable to lenders. The higher your credit score is and the better your credit report is, gives you the opportunity to be able to borrow at a lower interest rate.
Read More..>>You Think You Know How To Spend Money?
Posted on January 23, 2008 - Filed Under Finance | Leave a Comment
Do you think you really know how to shop? How do you calculate how much you pay the next time you take a loan? Do you have a system whereby you know how much is it that you can afford the next time you buy a car or a house?
You just bought a car. The installment is around $650 a month and you are determined that you can afford to pay the installment. You calculated the interest rate, term of loan and depreciation value and you are very sure that you can afford to maintain the car. After six months driving your car, you feel the pinch of paying your installment and you have a lot of bills, parking tickets and fines that you have not settle.
Read More..>>Consolidation Loan - A Good Way To Clear Your Debts
Posted on December 24, 2007 - Filed Under Education, Finance | Leave a Comment
Being bogged down with a large number of high interest debts can become very depressing, and in many cases can be financially crippling leaving you with very little disposable income at the end of each month. In addition to this, dealing with this sort of debt can mean that you will be making repayments to a wide range of creditors, thus making financial management more difficult, and can mean that over the term of the debts you pay an absolute fortune in interest on higher interest debts such as credit and store cards.
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