Sometimes, the formal and legal declaration of personal bankruptcy is the best way to go when you're "snowed under" with bills, and you just can't see your way clear to survive. Actually, bankruptcy allows you to make a fresh start. Generally, it takes only a small amount of money, a careful evaluation of your assets and your liabilities. In many cases, a lawyer is not necessary. If you have very few assets, mountains of debt, and not enough...more
If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor." If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector." You should know that in either situation the Fair Debt Collection Practices Act requires that debt collectors treat you fairly by prohibiting certain methods of debt collection. Of course, the law does not...more
SHAPING YOUR APPLICATION TO FIT THE RIGHT PEOPLE Creditors approve credit to those people who most closely match the right profile. They arrive at those conclusions by assigning point values to various items of information that are included either on your credit application or in a credit report. Credit card companies like credit scoring systems because as a large volume creditor, they can replace trained credit personnel with a relatively few employees who can quickly total number columns and determine is an applicant's point values add up to the right score. Scoring, of course, is done for one reason. A creditor just wants to know that the odds are high he will get his money back. Scoring systems are fine for those people who fit right into the right profile, but what about those who don't but could pay off their monthly obligations just as easily and reliably as the next person? If you are one of those people who just doesn't "fit the mold," you'll simply have to make a few adjustments in your application so that you fit the scoring profile of what a creditor is looking for in a final total. HOW CREDITORS RATE AN APPLICATION The first thing you should know is that every system...more
"No man's credit is as good as his money." E.W. Howe, American journalist, novelist 1853-1937 The American economy is based on credit. If you don't have at least an average credit rating, you will find that getting approved for any type of loan, or credit card, will be very difficult - if not impossible. As the nation's economy worsens, the money...more
Can you establish good business credit if you have bad personal credit? The answer is yes...but with a few caveats. Business credit reports and personal credit reports are generally completely separate databases for legal reasons. However, there are some exceptions in terms of how independent that information may be: -- If you are operating as a...more
For many people, interviewing is not a natural act any more than going on a blind date is. You are asked a bunch of questions about your work. You answer them. They ask a bunch more; you answer them. You're graded on your performance (you receive a job offer or not). Yet interviews are predictable processes and as such can be planned forWhat does an employer want to know about you? Do you have the skills to do the job that needs to be filled? How will you fit in with my company? If I hire you, are you someone I will need to worry about?How does this get determined in an interview? By asking questions about what you have done and how you did it or decided it should be done. By asking behavioral questions that will give an employer a sense of the scope of your experiences By asking concrete questions to ascertain your knowledge By observing your body language or physical response to questioning to observe whether it is consistent with a successful person.The fourth way (observing body language or physical response to questions) is particularly interesting because it is not skill or experience based and is completely subjective and emotional. AND it is part of the decision process.And...more
The ability to connect with people is essential to success in any business. Professional networking events present opportunities to interact with others on a personal level and to develop profitable relationships. These occasions are critical for...more
Homeowners who are seeking a property appraiser often ask "How should I choose which real estate appraiser to use?" When selecting a property appraiser, keep the following in mind:Always make sure a property appraiser is licensed or certified by the...more
When you set out to borrow, you often come across terms like unsecured loans, revolving loans, adjustable rate loans, etc. While these terms are more or less self-explanatory, it is still useful to be clear on their exact meanings and what they imply...more
Are you thinking of going in for a payday loan to meet an unexpected expense? If yes, look into these seven things before you finalize one. This checklist can help you make smarter choices. You might even end up saving some serious cash!First thing...more
Payday loans have many names -- cash advances, signature loans and paycheck loans, etc. Payday lenders provide quick and easy short-term cash to those who need money immediately. That's the big reason why they're so popular. However, payday loans...more
Many banks actively encourage their clients with low balances to overdraw their accounts. That means, if the customer writes a check or uses her debit card and has insufficient funds in the account, the bank clears the check by granting a temporary...more