Posted by Admin | Posted on 17-08-2011
For any one who has considered entering into an IVA they will, no doubt have been curious to know whether, the IVA was going to have a negative impact on their credit report.
Well, quite simply, yes it will.
The IVA, or Individual Voluntary Arrangement to give it its full title, is a formal debt solution, which acts as an alternative to bankruptcy. It does this by giving the structure for the IVA applicant to propose a repayment alternative to his creditors, which will provide a comparable or better return than they would otherwise expect to receive through the applicant’s bankruptcy.
The repayment term of the IVA is a predetermined fixed term, normally 5 years, after which any outstanding debt is legally written-off by the creditors.
During the IVA, the applicant is legally obliged to refrain from seeking any further credit but , to ensure that other potential lenders are aware of the agreement, the Insolvency Practitioner acting as the administrator of
the IVA will notify the credit reference agencies that there is an agreement in place. A Full Article…
Posted by Elizabeth Halpern | Posted on 12-07-2011
Your credit report is the all-important document in your life and it is important to know if there are any errors in it. The accuracy of the credit report is of prime importance and you have to ascertain if the information is accurate.
Earlier estimates on credit reports have shown that those with grave errors vary to a large extent and may be anywhere between 3% and 25%. Consumer Data Industry Association had recently conducted a paid study. It is the trade group for credit bureaus which assemble and sell these credit reports. The errors are found to be much lower than expected according to the study. However, consumer advocates have stated that they are skeptical about those results.
In around 19.2% of the credit reports that were examined by the Policy and Economic Research Council study, there were potential errors that were found.
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Posted by Elizabeth Halpern | Posted on 22-06-2011
It is beyond doubt that the credit report holds the key to any customer’s financial well being. This report plays an important role in all walks of life including finding a job, renting an apartment, obtaining car insurance and above all, while availing any type of loan from banks and financial institutions. All lenders today look into the credit report to establish the credit worthiness of the applicant and assess the risks they need to take if they approve the loan application.
It is imperative to ensure that all the information present on your credit report is accurate and updated at all times since this information is used to calculate your credit score. Even a small discrepancy in your credit report can impact your credit score which can rob you off your chances of getting the much needed job, apartments or loans.
There are three major credit bureaus in the country from which you can obtain your credit report – TransUnion, Equifax and Experian. Cre
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Posted by Admin | Posted on 22-04-2011
Comprehending the idea of credit score system through some key checkpoints is possible easily knowing its significance and usage. If you need help understanding your credit report, read this informative article.
It is normal for us to resort to credit as soon as we are in a big financial need; however we are running out of money. In place of pawning our precious assets in replace for the amount that we require (which is generally minus the relevant interest), we can be relevant for different types of loans with suitable terms of payments and reasonably priced interest rates. In addition, there are as well instances when the lender provides discounts and other forms of financial incentives to their customers, thus making credit a beneficial alternative when you are in huge financial need. Full Article…
Posted by Elizabeth Halpern | Posted on 19-02-2011
Thinking of checking your credit history but you have no idea how to get a copy? Well, here’s an article that can help you do just that!
The passing of the Fair Credit Reporting Act (FCRA) has mandated credit bureaus to issue at least 1 free copy of a citizen’s credit report. This way, all consumers can fight identity theft, stay informed and get fair treatment from their creditors.
Getting a free credit report is now as easy as a click of a button. You just need to log-on to the AnnualCreditReport website or call their trunk line to create your request. This is the only way you can get the FCRA mandated free credit report. While everyone is entitled to a free credit report from each of the 3 reporting agencies, availability is regulated according to region at certain times. If your region is running, you can instantly view your credit report online. If n
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Posted by Isaac Nicolay | Posted on 18-10-2010
I’ve been online today checking out all those great TV spots telling me to send away for my free credit report. Don’t you just love those strummers taking any old playing job to put bread on the table? We laugh at the adverts, but we know what they’re really saying: life is not completely under our control. Sure, I adore the videos, but am I really thinking to myself, “I’ve been sitting on the sofa for way too long todayI better get off my duff and get my free credit report”?
If you’re not, wellmaybe you should be. Unfortunately, when that boy or girlfriend maxes out your card and skips town, or when your identity is stolen online, those bad things can follow you around for years in the form of strikes against your credit.
So why should I even bother to check my credit score? The reasons fall into two rubrics: Privileges and Duties. A great FICO
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