Categories
credit credit card credit report credit score

Rebuilding Your Credit Score

It is easy to forget you are getting a loan, and not much is being said about the importance of having a credit score – but don’t fall into the trap of thinking that’s it is just a bank loan, or rent or mortgage. A credit score is a statistical figure representing your credit history. If you are ever asked your rating is based on these factors: 3 main factors that define good credit worthiness – number, length, history of payment Another 3 main factors that should be taken into account – the number, length of history the score is based on, history of outstanding debt the score is taken into account if you are applying for a credit or loan – even if you do not have a credit score at all.

Step One in Finding Your 0% Interest Rate Debt

Check your credit report for errors and report the errors to your credit bureaus. You will likely receive many errors and a lot of them will be on your credit report because of your bad record.

There are many good sources online that try to help you on your first attempt. The most important feature to have is a reliable source who will help you in everything that’s asked of you and they will put your money where their mouth is by providing information for you’s sake. Once you open your credit card account – even if you never make a purchase – and you should, since that’s what affects your credit report! Never spend a dime without having a source provide information that’s accurate. You have to be careful not to repeat mistakes with your information or that information gets posted to your identity theft report, or is shared with anyone until the whole thing is fixed.

Step Two is getting a debt consolidation loan. The way this works is when you enter one loan or debt consolidation loan into a consolidation loan box, each person has one debt or term limit. Once one person has reached his/her debt limit it means he/she can not pay it off again. Thus, the other person has a debt in addition to your debt; you already have two others in the search process. The loan box will separate the account of all these people in one.

This next step is to figure out the length of time you have to go past good credit. Generally, the more you have the better.

You should probably call your credit card provider. If you are approved for a loan, your current credit status will automatically be noted on your credit report.

These are just some of the steps to taking control of your financial life. You can do even better things by looking at debt counseling. If you have found great loans at your bank, a consultant will help you develop a debt management plan and work with your creditors to come up with a plan that keeps you out of financial trouble again.

Rebuilding Credit – Lessons From Ukraine Crisis

In the last year, numerous financial markets have witnessed dramatic increases in the virtual exchange rate manipulations by the government of Ukraine. These moves have been referred to as ‘double counting’. The use of double counting is a term best applied to changes in the relative importance of fixed and variable currencies in society.

Russia’s decision in February to devalue its national currency may have just been inadvertent; however, the devaluation, supported by the dollar, has now created distortions in the market, which may have hurt the economy by providing a temporary boost to the perception that the currency is conducting under surveillance, and will ultimately reduce the purchasing power of the population.

The Russian government has attempted, through various measures, to stem the flow of new investment to the country by imposing an attractive one percent purchase tax. However, as a purely economic adjustment, the introduction of a double counting policy is risky. Real GDP per Capita (prior to March 1, 2000) was about $233,000, whereas prior to March 1, 2000 real GDP was $1.2 trillion. Considering the economic woes facing Russia following the fall of the lira, it is worrying that prices are going up significantly despite the presence of strong economic activity in the Kalkbank region, Ukraine, and in several major Ukrainian oil and gas export producing territories. Realization must therefore be set off at the levels of the Ukrainian economy.

Under the ruble, the purchasing power of the Russian Federation is at stake. The ruble devaluation imposes a severe restriction on the capacity of the Russian Federation to borrow. The effect of the new policy which took effect March 1, 001, is that the purchasing power of the Russian Federation is reduced by a number of economic sectors, which are experiencing severe and sustained strain of service-related underutilization and contractionary pressures.