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Home Equity Loan or Home Equity Line of Credit – Which is right for you?
The most common type of home equity loan is the term loan. This loan is set for a fixed amount of time, anywhere from five to fifteen years. Such loans are typically granted for up to 80% of the value of the home, but some lenders will lend up to...
Home Owners Avoiding Complications in Credit Repair
Avoiding complications in credit repair is almost important as
getting out of debt. When we have bills that were neglected
simply because we didn't have the money to pay the bills, or
else we purchased items instead of paying the bills, we are...
Ten Steps To Building A Good Credit History
Are you thinking of buying a house? Do you want to buy a new car to replace that old wreck? Trying to get insurance on you home, auto, or life? In each of these situations, what’s on your credit report will determine if you can get a loan...
Understanding Credit Files to Repair Credit
If you are in debt and nagged daily by creditors you might want
to understand your credit files to repair your credit. If you
are delinquent in payments your credit score is affected, and
often you can't get a loan. There are exceptions but if...
Why Bad Credit People Pay Higher Rates
Why Bad Credit People Pay Higher Rates by Dave Czach Let's face it. People with credit problems pay higher rates for the same reason people pay higher auto insurance premiums - risk. Virtually everyone knows if you receive a traffic ticket, you get...
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New Year's Resolutions: Save Your Credit and Your Marriage
Before you whip out your credit cards this year, consider this:
more than 70 percent of divorces in America are brought about
due to financial problems. It's so easy to use your credit cards
to buy items you want. But stop and think first.
Overwhelming debt is stressful from a financial standpoint, but
financial stress can also damage your relationship. More lovers
fight over spending money than any other issue. In fact, the
average American consumer carries so much credit card debt that
they're only three paychecks away from having to declare
bankruptcy.
Understand that when you charge something, you will pay, on
average, more than 130 percent for that item than if you pay
cash for it. And, if you only make minimum payments, you're only
paying ten percent towards the charged item and ninety percent
interest. If you are one of the millions of Americans who are
only paying the minimum amount on your charge cards, start
paying MORE each month. Even if it's only a little more.
Reducing the principal balance will shorten your overall payment
schedule--sometimes by hundreds or even
thousands of dollars.
Stop charging consumables such as
Gasoline. It just burns up!
Children's clothes. If you pay over six months, you're
paying for outgrown or worn out clothes.
Food. You don't want your credit in the same place food
ends up.
Entertainment. Is a night out worth a possible fight
about money?
Gifts. Think about making a gift instead of charging an
expensive present.
Use your credit wisely. Pay cash whenever possible, and try to
live within your means, even if it means doing without some
things. Don't risk your marriage with unnecessary credit card
debt. Include monitoring your credit card use in your New Year's
Resolutions.
Copyright © 2006 Jeanette J. Fisher. All rights reserved.
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