Be Wary of Guaranteeing a Loan

Written by John Mussi


Continued from page 1

Despiterepparttar risks, there may be times when you want to guarantee a loan. Your child may need a first loan, or a close friend may need help. Before you guarantee a loan, consider this information:

Be sure you can afford to payrepparttar 137503 loan. If you're asked to pay and can't, you could be sued or your credit rating could be damaged.

Even if you're not asked to repayrepparttar 137504 debt, your liability forrepparttar 137505 loan may keep you from getting other credit because creditors will considerrepparttar 137506 guaranteed loan as one of your obligations.

Before you pledge property to securerepparttar 137507 loan, such as your car or furniture, make sure you understandrepparttar 137508 consequences. Ifrepparttar 137509 borrower defaults, you could lose these items.

Askrepparttar 137510 lender to agree, in writing, to notify you ifrepparttar 137511 borrower misses a payment. That will give you time to deal withrepparttar 137512 problem or make back payments without having to repayrepparttar 137513 entire amount immediately.

Make sure you get copies of all important papers, such asrepparttar 137514 loan contract. The lender is not required to give you these papers; you may have to get copies fromrepparttar 137515 borrower.

You may freely reprint this article providedrepparttar 137516 author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.


Tips for Credit card surfers

Written by Robert Armstrong


Continued from page 1

Secondly. Never, never, never spend any money onrepparttar card to which you transfer a balance. This is because, your monthly payment is always put towards paying offrepparttar 137463 transferred balance. This means that you will pay interest on everything you spend, even if you pay off as much as you spend every month.

Finally, make sure you know and write downrepparttar 137464 date thatrepparttar 137465 balance transfer period ends. Better still, set an alarm on your mobile phone or PDA for seven working days beforerepparttar 137466 expiry date. That will give you enough time to pay offrepparttar 137467 balance beforerepparttar 137468 interest free period ends.

Follow these simple guidelines and you can surf from credit card to credit card and never pay any interest on transferred balances.

Robert Armstrong is a contributor to Consumer IQ – a site dedicated to publishing the UK's best High Street and online deals.


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