Many people in the United States today have bad credit, and the numbers have continued to rise. It isn’t just those who are lazy who end up with bad credit. Many hard working people who are well meaning end up in situations where their credit is ruined. The best way to avoid this is to look at the different warning signs that can indicate that you’re headed towards a situation where your credit can be destroyed. Read the rest of this entry »
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Signs That You Are Approaching Bad Credit
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Your Minimum Payments Might Soon Double!
Consumer advocates and members of congress are both upset and annoyed by credit card companies that are scurrying to raise their interest rates and fees whilst lowering their cardholders’ limits before new laws take effect, just seven months from now.
Looked at from a lender’s point of view however, it’s easy to see why they are in such a rush to both protect and to increase their profits.
The new law when it’s enacted will prevent card companies from raising rates on existing balances unless the borrower is at least 60 days in arrears, and will require the original rate to be restored if payments are received on time for six straight months.
Under the present law, credit card companies are not obliged to get permission from customers who’s spending will take them over their limit, but since customers who exceed their limits are charged a fee, the new law states that their permission must be given. Read the rest of this entry »
Keeping Your Payday Loans Secure
A person who obtains a payday loan for the first time need not have butterflies in his stomach. Getting a payday loan is relatively simple and fast, especially if a person submits an application online. Completing an online application takes between two to six minutes, depending on how fast a person reads and types… Online payday loan companies require loan applicants to complete an online application form. Based on the information disclosed in the application form, the lender will determine whether the applicant is qualified for a payday loan or not. Most lenders collect information about potential clients from four sources: Read the rest of this entry »
