Credit Report – Check Yours Regularly…and for FreeWritten by Charles Essmeier
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individual’s credit worthiness, and that score is obtained through a complex formula that takes into consideration a person’s borrowing and spending habits and payment history. A high score makes someone more eligible for loans and credit, while a lower score may indicate that a person is a risk to repay. While information contained on a credit report is generally accurate, incorrect information sometimes shows up on credit reports, and incorrect information could result in someone who being denied a loan for which they might otherwise be qualified. Furthermore, a credit report check is best way to determine if you have been victim of identity theft, an increasingly popular crime that often goes unnoticed for a year or more. If your identity is stolen, your credit rating can be ruined and you can be burdened with thousands of dollars in debt. The new bankruptcy law, which goes into effect in October 2005, draws no distinctions between debt incurred by an individual and debt incurred through identity theft. This alone should be reason enough to check your credit report regularly.
Since law now allows individuals to obtain one free report per agency per year, anyone who wants to keep a close eye on their credit report can obtain a free report as often as every four months. Since credit report affects your life in so many important ways, checking it regularly should become a habit.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
| | A Secured Loan Could Save You MoneyWritten by Bwalya Mwaba
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3. You can borrow larger amounts and repay over a longer period. The amount available usually ranges from £3,000 to £50,000, although some lenders will consider lending more. Compare this to unsecured loans where you're only allowed to borrow up to £25,000. If you wish to borrow a larger amount or if you require a longer period in which to repay loan, secured loans may be most suitable for you. 4. You can consolidate more expensive borrowings into a single much cheaper monthly payment. You may choose to take out a secured loan in order to consolidate debts and replace high-interest loans with a low-rate loan. The loans being consolidated may include higher purchase loans, unsecured loans and credit cards. Useful Points to Remember Before you take out a secured loan, make sure that you can afford monthly repayments. Also, read loan agreement carefully and pay particular attention to rate of interest required, term of loan, repayments required and total amount payable. If you fail to repay loan, lender may repossess your property or home and sell it to repay loan. If you borrow money using a mortgage as security you are agreeing that lender can claim mortgaged property if you fail to keep to agreement. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. You can read some more articles about Secured Loans at: http://www.commercial-mortgage-guide.org.uk/loanguide/
© Copyright 2005, Bwalya Mwaba writes for the The Commercial Mortgage Guide. Visit our website for mortgage related news, articles, tools and more: http://www.commercial-mortgage-guide.org.uk/
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