Credit Cards Or Student Loans

Consolidate Your Debt – There are still banks and credit unions who can provide personal loans to consolidate your debt. If you have student loans or tax debt. Those can be handled separately. If you have a lot of equity in a home you might be able to consolidate your debt into a home equity loan. You would need to have more than 20% equity to qualify for a loan like that.

If you’re not pre-approved for a regular home loan, you may be eligible for a bad credit home loan. Bad credit home loans are designed for people with a credit score of less than 620 or who have been late on their existing mortgage payments. Bad credit home loans are more risky for a bank to take, and so they charge you a higher interest rate to compensate them for their addition risk. Bad credit home loans can be almost double the rate of regular home title pawn Atlanta. Currently, home mortgage rates are around 5.5% and bad credit rates are between 10% and 12%, depending on your lender. If you are able to raise your credit score, you might be able to eventually refinance your mortgage at a lower rate.

How about suppliers? I do occasionally encounter a business owner who is in so deep that their vendors are starting to cut them off. However, most business owners try to keep paying the suppliers since without materials, it’s tough to ship product. So do everything you can to continue to pay suppliers.

Work on Golden Quadrilateral road project nearly complete. Considerable progress made on North-South, East-West corridor and likely to be completed by 2009.

Government to create one lakh jobs for physically challenged. Government will reimburse the EPF contributions of employers in the case of physically challenged people taken on rolls of the company and included in the PF scheme. A fund of Rs 150 crore to be started which will go up to Rs 450 crore.

The lower your credit score, the higher risk you become. Some things people don’t know that greatly affect credit scores is that deep within the fine print that we never read is a clause that says “..if you are late even once the credit company can raise your interest rate, sometimes as high as 30% APR..”. What’s worse is that when other companies find this out they can also raise your interest rate; even if you weren’t late with that particular company.

This report is of great significance. It will really help you to get the short term loans with lower interest rate. Loan providers always check your credit score before approval of loan. You can also get the loan with bad credit score but for this you have to pay a high a bit high interest. In short it may be said that these reports are of great help to the people of our country and everyone should avail this free service.

Comments Off on Credit Cards Or Student Loans