Some Options To Avoid When Facing A Financial Emergency
Wednesday, April 23rd, 2008When facing a financial emergency there are at least six options that you should avoid.
- Don’t borrow from a finance company
- Don’t use a tax refund anticipation loan
- Don’t take out a payday loan
- Don’t visit a pawnshop
- Don’t refinance your car
- Don’t use a debt consolidation or debt negotiation company
Don’t borrow from a finance company.
These companies make secured consolidation loans that require you to pledge real or personal property as collateral at high rates of interest, often as high as 15%. If the finance company makes an unsecured consolidation loan to you it may carry an interest rate as high as 25%. If you must take out a consolidation loan you are far better off borrowing from a bank.
Advice On Bad Credit Repair Services
Sunday, April 20th, 2008Bad credit repair services have been around forever. In a previous generation, low budget commercials featuring local businesses that specialized in bad credit repair services were commonplace on late night television. Today, the industry has greatly expanded thanks to the advent of the internet and the new media. Yet, many people due not see that value in bad credit repair services. This is because they look at the problems of being stigmatized with bad credit from too narrow a scope.
The Giant Negative Effect of Bad Credit
Credit Card Company Abuses
Thursday, April 10th, 2008The company that issues you a credit card may have ulterior motives other than to just collect interest on unpaid balances. Frequently the issuer will change the terms and interest rate of a particular card with proper notice to you. There may also be hidden fees that you are unaware of.
Some of the ways credit card companies can increase the amount you pay for your credit card include:
Universal Default
