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Showing posts from February, 2009

Unsecured loans are not good for borrowers

Now a day, unsecured loans are available for all. There is no such restriction for the borrowers. The borrowers opting for these loans are of all types. The facility of borrowing money is also being made for the poor credit holders. They can borrow money and for these poor credit holders especially the bad credit unsecured loans are being implemented. The amount offered in these loans ranges from 1500 to 30000 USD and for repaying these you will get a time limit of 1 to 10 years. The repayment term is quite short compare to the offered amount seems to be quite fair. As the offered amount is small hence, the repayment duration do not creates any problem. The reason for which these loans are preferred to be adopted by borrowers is that there is no security system. Without pledging any collateral you will be eligible to get the loan amount. The only thing that creates problems for the borrowers is the higher interest rates. If you are not comfortable in paying it each month then you

How to repair your credit

Now a day we can see the advertisements in the media, even we are getting calls for offering credit repair services. All of them offering the same claims like, ‘Erase your bad credit — 100% guaranteed’, ‘Legally create a new credit identity’ etc. There are lots of credit repair service companies, but none of them can legally remove 100% accurate negative information from a credit report. You can repair your credit by yourself at no for little cost. As per the Fair Credit Reporting Act your rights are – 1. You get a change for a free report if a company is denying your application for credit, insurance, employment. You need to ask for your report by sixty days of receiving notice. . The notice will provide you the name, address, and phone number of the consumer reporting company. Even you are also able to get one free report a year if you’re unemployed and plan to look for a job within 60 days. 2. The three nation wide (United States) companies are TransUnion, Equifax and Experia

Tips on Debt Reduction Settlement

Are you in debt? Facing collection problems from the rude debt collectors? You need to handle the situation immediately. Debt settlement is always a better solution than bankruptcy. Debt settlement is a process of negotiating with your creditor either making a lump sum payment which is lower than the total balance, or making a new payment schedule at a reduced interest rate. In this situation your creditors will definitely negotiate with you, because they know get something is better than nothing. So how will you negotiate your debts? If you are interested in debt negotiation, either you can hire a debt negotiation service provider or you can contact your creditors by yourself. When you want to contact creditors for negotiation, please follow this suggestion: 1. Try to be calm and convincing : Always explain your situation in professional terms. They are not going to negotiate with you, so screaming or crying is not a good idea to help you. 2. Be patience, do not give up them eas