Archive for September, 2010

Improve your credit ratings with online credit score

By Jasmine Pinschof  Sep, 30, 2010  

Credit score is most important part of financial life especially when it comes to purchase loans or credit cards. It determines whether lenders will approve the application or not. Generally, this score is a three digit mathematical number which is calculated by leading credit bureaus of UK on the basis of your credit history. It is mandatory for all UK citizens to keep the score in good condition. Now days, companies have started performing credit check on candidates name to checkout their past history.

In order to grab the best job, loan deal or credit cards, it is necessary to achieve good credit score. Nobody knows how these credit bureaus calculate the score. But according to few experts and websites, your past payment records, borrowed funds, credit card payments, rent payments, term of loan, CCJs, arrears, defaults, IVA, bankruptcy, income, etc.

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How credit report score can limit your borrowing options?

By Jasmine Pinschof  Sep, 30, 2010  

Credit report score determines the creditworthiness of people and it plays very important role in your life especially when seek for financial products and services. Credit score is three digit numbers which is calculated on the basis of your past financial track. These three numbers decide the rate of interest, APR and monthly payments of loan. Even, sometime lenders reject the application due to low score. These three digits numbers can help you to save the large amount of money, if you got good score.

Now days, many companies have come in the financial market who are offering free advice and guidance to repair credit score. Credit report score is divided by companies into many categories for example excellent, good, better, above average, average, below average, poor, extremely poor and negative.

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Latest Census data show recession’s impact on Kentucky

By Oliver Dalrymple  Sep, 27, 2010  

Numbers released by the U.S. Census Bureau on Tuesday give the first glimpse of the effect of the latest economic recession on poverty rates and employment in Kentucky and across the nation. “Across the nation, poverty has gone up to very high levels. Kentucky mirrors that trend,” said Ron Crouch, director of research and statistics for the state Education and Workforce Development Cabinet. Employment-population ratios, which measure the number of people in the workforce against the number of people in the state, have risen nearly 3 percentage points since 2005, according to numbers from the American Community Survey produced by the Census Bureau. Unemployment has actually dropped across the state in recent months, but the unemployment number doesn’t take into account long-term unemployed workers who aren’t actively seeking jobs. Poverty

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Councils Charging For Paying Bills By Credit Card

By Michael McConachy  Sep, 27, 2010  

A consumer group has criticised a number of councils and local authorities for imposing surcharges for people who wish to pay tax bills or other costs by credit card.

‘Which?’ magazine, using Freedom of Information legislation, found that 55 councils in the UK are imposing additional fees for those who chose to pay by credit card, with 12 adding 2% or more to the cost of services.

Two councils were also found to be charging for debit card transactions, which attract a much lower fee for the retailer than a credit card transaction.

Bath and North East Somerset Council were named amongst the worst culprits, imposing a surcharge of 3% on council tax payments, planning applications and many other services, if a credit card is used.

Credit card companies impose a fee on retailers, known as merchants, for handling a credit card transaction and it is that fee that councils claim is the reason behind these charges. The

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Steps you can take to improve credit score

By Jasmine Pinschof  Sep, 25, 2010  

Generally, bad credit score creates number of barriers and problems in front of people especially when you deal with financial products and services. In United Kingdom, more than 70% people are struggling with credit ratings and want to know how they can improve credit score. There are many factors that affect the credit history of a person including late payments, CCJs, arrears, defaults, arrears, IVA, bankruptcy and many more.

It is important to know how credit bureaus calculate the credit score in order to improve credit score. It is a three digit number which determines the credit worthiness of individual. There are many ways to repair credit score for example:

-         Collect the copy of score from the credit bureaus as soon as possible, and contact them if you find any error in it.

-         You should try to repay the existing debts soon. If you got many

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Mortgage Lending Drops in August

By Michael McConachy  Sep, 23, 2010  

Total mortgage lending fell for the second month in a row in August, with analysts claiming that another fall in house prices could be around the corner.

The Council of Mortgage Lenders (CML) said that the number of homes sold in the UK also fell last month, by 5,000 to 85,000, whilst property groups have claimed that typical asking prices have fallen by an average of around £8,000 as a large number of returning sellers are met with a small number of potential buyers.

“We face the prospect of a difficult second half of the year,” said the CML’s chief economist Bob Pannell.

“However, the Bank of England is likely to keep interest rates at record lows for longer to support the economy.

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How bad credit score can affect your financial stability?

By Jasmine Pinschof  Sep, 21, 2010  

Bad credit score is a barrier that stops borrowers to obtain the finance from lenders. Many factors can be responsible for such conditions like CCJs, arrears, defaults, bankruptcy, IVA and late payments. Usually, people don’t concentrate on small things in life which can affect the credit score badly for example; a late return of library book can affect the credit score if you don’t return it on time. So, is there any solution? Yes, there are many options available in United Kingdom through which you obtain the finance or repair credit score.

Bad credit loans are good option to arrange the money despite of bad credit score. Generally, people ask this question how a loan can be a good option. Yes

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What s My Credit Score Why Should You Care What Your Credit Score Ratings Are Anyway

By Michael McConachy  Sep, 19, 2010  

   Are you finding that financial institutions have gone from practically throwing money at people regardless of whether they could afford to repay it or not, to not lending anybody anything. There should be a happy medium but as yet the banks and credit card companies don’t appear to have found it. Add to that the fact that the three different bureaus all calculate your score slightly differently and the lenders do it a different way again, it is easy to see how you can become confused. So what is a good credit score? If possible you should be aiming for the 700 to 800 level as the higher your number the easier it will be to obtain future credit and the lower your interest rate. Most people would have had no issue scoring this a couple of years ago but now the goal posts have been moved. L Read more…

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