Debt Settlement Online & Debt Consolidation Help & Tips

Common credit card traps you should avoid

September 28, 2011 by · Leave a Comment 

Credit cards have become an essential part of day to day life. When used wisely it can give you many benefits and the misuse of it can lead you to credit card debt. Credit card companies make profits from the interest they earn when you are unable to pay your monthly balance. There are many traps used by t companies to lure you in to parting with your money.

Minimum charge

You will be required to pay a minimum amount every month, you will pay only that and you will be charged interest up to 25% on the balance amount due. Always pay the full amount due.

Tempting deals

Cardholders will be lured in to spending more than they could afford by offering by very tempting deals. The more you spend the more likely you will end up with credit card debt for which you will pay a high interest.

Privilege membership offers and upgrades to gold or platinum cards

The membership will have an annual fee and the upgraded card will have a higher annual subscription fee for benefits you may never use.

Cash withdrawal from ATM

An interest free period does not apply to cash withdrawals and charges very high interest.

Stipulations of Auto Loans for Bad Credit

September 18, 2011 by · Leave a Comment 

Almost everyone has done it, and usually by accident. Forgetting to pay a bill here and there seems like not a huge deal but, unfortunately, one bill can stay on your credit for a longtime. The worst part is that companies charge hefty fees to even find out what your credit is and often it’s too late to even think about fixing it. Let’s be honest though – most people in this day and age who have bad credit have it because of a lot more than just one bill that wasn’t paid. Fortunately there are companies that offer bad credit car loans to help you get started – they simply come with certain stipulations.

There are so many companies that offer auto loans for bad credit but the question is – what’s the fine print? More often then not these companies are going to force you to put some type of collateral on your loan. Essentially this means that if you do not pay in time you will be forced to give up something valuable to make up for it. They will almost certainly have very bad interest rates as well which can really hurt you if you get behind on your payments.

These same companies offer a poor credit credit card with similar stipulations as the auto loans. Although collateral is much less likely they will almost certainly have terrible interest rates which will leave you in considerable debt if you do not pay them.