Add Stability to Your Credit File

Posted by admin9 on Feb 28, 2017 in ARTÍCULOS, Legal créditos | Comments Off on Add Stability to Your Credit File How stabilization of your credit file will improve your credit Now that you have both ordered and reviewed your credit reports, it is time to stabilize your credit file. This is essential to get a better credit score and is something that paves a way to a better financial status for you and your family and improves your credit. Repairing your credit score and adding stability will further and improve the quality of your life. Steps to stabilize your credit First step is always assessment, compare interest rates and fees of all your credits and prioritize them in a way that it would benefit you the most. Building a good credit history is also of high importance and should be taken into account when attempting to repair credit also. Get a secured account as soon as you have the chance. This is important so you can lay some money on the side and put some money in the banking system so there can be built trust between you and your lenders. This is very essential to repair your credit and also improve your credit score. Always pay off your balance. Like, every month. This is very important also since you have bad credit; bureaus will want to see that you can pay debt off. Further precautions to improve credit Pay off your debts, buy only stuff you need with the money you have left at the end of the month, don’t spend more than you can afford. This will also cut down on your bad habits of spending unnecessarily. Having a budget for your expenses also helps immensely. Besides that you should also try to build a small savings account if possible. This savings account should automatically pay small amounts of money that will be required. One of the most important things to better your credit is to do all your financial stuff through one bank, which will make it much more manageable for you. Don’t apply to every possible credit and credit card because those will show up on your credit reports and will leave a bad impression on lenders, that means you should only apply on credit you might likely get. Restoring your credit and stabilizing your file is a long term process. Showing lenders that you are responsible with the money they give you is also very important, this means you should make a good impression...
read more

Up to 1 Million People Not Able to Pay Credit Card Debt

Posted by admin9 on Feb 28, 2017 in ARTÍCULOS, Legal créditos | Comments Off on Up to 1 Million People Not Able to Pay Credit Card Debt According to information from the Turkish Banks Association, 55 percent in 2013 year-over-year 1 million people were unable to pay their debt on credit cards only. In 2012, the number of unpaid debts increased by 228,000 and 155,000 were just credit card debts alone.  Also in 2013, statistics from Turkey’s Interbank Card Center indicated that the amount of credit card purchases totaled up to 409 billion. However, credit cards are not the only debt people seem to be struggling with in fact, 15 percent of those spending where from food markets. While gas was 11 percent, clothing and electronics had a sum of 8 percent. What about the other critical debts?  Yes like the mortgages, auto loans, and personal loans. From 2012 through the year of 2013, the number of people who were incapable of paying their vehicle, home, and personal loans raised from 308,000 to 464,000. Measurements will be taken soon this month to prevent and reduce credit card spending. Once this becomes effective it will include the government to limit and eliminate the installment option for some...
read more

Twins enter credit card swipe dispute after opting out of class-action dea

Posted by admin9 on Feb 28, 2017 in ARTÍCULOS, Legal créditos | Comments Off on Twins enter credit card swipe dispute after opting out of class-action dea The battle of the merchants and the Minnesota Twins are now at the sixth to seventh inning in a battle against Visa and MasterCard over high transaction fees. The teams are now amongst the two latest and dominant businesses in the credit card networks. They are accusing them of breaking anti-trust laws by fixing bloated fees that retailers have to pay when accepting their customers’ credit cards. Each swipe fees amount to around 2 percent a purchase and were the focus of a running class action antitrust fight which was between the retailers, card networks, and card-issuing banks.  In 2012, the lawsuit settled for a record of 7.25 billion. The federal judge ultimately approved 5.7 billion after thousands dissatisfied retailers opted out of the damages portion of the deal. On February 7th, a lawsuit was filed in U.S District Court in Brooklyn by the Twins including Granite City Food & Brewery and JB Hudson Jewelers part of a local group of opt-outs. The complaint however, doesn’t say how much the companies think they are owed. Kevin Smith, Twins spokesman,characterized the lawsuit as something of a technicality “To protect our interests.”  He quoted “Once we opted out, the legal system pushed the burden on us to move forward with obtaining a fair result,” “We’ll see what happens,” Smith said. The Minneapolis antitrust lawyer representing the group, Vincent Esades, said that the companies are basically making the same case against Visa Inc. and MasterCard Inc. as the original antitrust class lawsuit. The lawyer Esades estimated that “hundreds” of these cases have been filed in the wake of the settlement.  However, he feels confident that the group will receive more in damages on their behalf than they would as part of the settlement. K. Craig Wildfang is the Minneapolis antitrust lawyer who quarterbacked the historic interchange settlement for retailers. He stated that the record on what opt-outs have been awarded in damages on their own, after opting out of class-action antitrust settlements were mixed.  “They should plan on litigating their claims over the next several years,”Wildfang...
read more

What to Say Before Accepting an Increase on Your Credit Card Limit.

Posted by admin9 on Feb 28, 2017 in ARTÍCULOS, Legal créditos | Comments Off on What to Say Before Accepting an Increase on Your Credit Card Limit. When receiving a call from your bank saying you are eligible for an increase on your credit card limit. Would your answer automatically be “yes”?  Read further to find out why this wouldn’t be good idea: How does credit limit actually work? Let’s just say that you are a cardholder of a certain bank and you hold your salary or savings account with them, well most likely you will be sold a credit card from this bank.  This is exactly how banks cross-sell credit cards to their existing customers. Most banks reach their decisions by reviewing details of your salary or savings account and based on themthey set up your credit limit. As soon as the bank tracks down your spending patterns and income flow they will consider an increase or reduceyour credit card limit. Paying only the minimal dues you will unlikely receive an offerfor a credit limit increase. Your credit limit may also go down caused by any existing or chances of defaulted payments. However, if you pay your bills regularly and have a steady income then your chances of be receiving a phone call for that credit limit increase will be high. Your income depends much on your credit card limit. No matter the earnings, you may earn less but have sufficient to pay your bills on time then your bank sees that they may increase your credit limit. What You Can Do? Generally the banks revise a person holding the card after 6-18 months of the offer with a minimum of 50% increase. Credit limit changes could impact, but if it will give you relief then decide onit. Be sure that you only use 30%-35% or less of your credit limit spending. You do not want to which in reverence it is called overutilization. If you are concern about overspending you can always request or opt for temporary enhancement by contacting your bank’s...
read more

Tips on Finding a Good Credit Counseling Agency

Posted by admin9 on Feb 28, 2017 in ARTÍCULOS, Legal créditos | Comments Off on Tips on Finding a Good Credit Counseling Agency Financial obligations may heap up due to neglect or emergencies. Soon, you may find yourself wiping out your savings and maxing out your credit cards. This hurts your finances and credit rating. Who are you going to call then? It may be late, but finding a good credit counselor or counseling agency is your best option under the circumstances. You want to pay off your debts and re-establish your credit score, not to mention get rid of the pesky telephone calls from your creditor. As you contemplate on your situation, what can guide you in choosing a good credit counseling agency? Here are some of the most widely recommended tips when looking for a credit counseling agency. Go for reputation – Ask around for a reputable credit-counseling firm. Chances are that your friends or relatives have used or know someone who has used the service of a proven, trustworthy company. It may be embarrassing to discuss your finances, but keep in mind that your most trusted friends and family will want you to succeed in your dilemma. Weigh your options – Your decisions will reflect on your credit score. In that case, bankruptcy should be far from your options as it will impact your credit rating. Look for an agency that will help you preserve your credit standing through a doable debt management plan and credit counseling. Check-out the agency’s list of services – The most experienced credit counselors will have helped managed several types of portfolios, from simple credit card debt eradication to complicated monthly budget and debt management plan. Many credit counseling agencies have websites that list down the services they offer. Look for variety in the services, such as bankruptcy filing (before and after), debt education, home buying and mortgage counseling, even student loan counseling. Choose an agency that offers financial literacy – Do not be rushed into signing up for a debt management program or various services. Seek an agency that is willing to take the time to educate you on your personal finances. Such a counselor will provide you with tools and resources that will prevent you from doing the same mistakes again. Check out the fees – Credit counseling is not cheap, but neither should it be exorbitant. After all, you want to get out of debt, not enter into more. Seek an agency that suits your budget. The charge should be reasonable. Avoid upfront fees and recurring...
read more