An option arm even my mother would love

Callers and prospective clients often ask me, "Would you put your mother in an Option ARM?" I used to point out that my mother made two mortgage payments a month on a 15 year mortgage and paid it off in 10, because she knew she was going to live in her house forever. But when it came time to cash out to make some major home improvements on her beautiful old Tudor, we selected an Option ARM. A very different kind of Option ARM. Many of you have read our articles about the Hybrid Option ARM or Fixed Option ARM mortgage. The phones at both East and West Coast offices have been ringing so much that the owner of the company is even fielding calls from customers on his personal number due to all the volume overloading the lines (you might get lucky and get him if you call, he waives application fees for anyone who gets him directly). Just like the hundreds of callers who reach out to us each day, my own mother saw the sense in the Hybrid Option ARM value proposition. That's because unlike a standard Option ARM, the Hybrid has a fixed interest rate and payment for a period of time ranging from 3 to 10 years, and even after the fixed period is over most of them retain an interest only option. Now they don't have 1% start rates, but they do start anywhere from the high 3s (for excellent credit like my dear old mom) to the low 5s or equivalent. You can generally expect a minimum payment option on a Fixed Option ARM to have a payment of about 55% of the interest only payment at the rate of the note. In my mother's case, she locked in for 10 years and was able to pick up $100K for home improvements and debt consolidation for a monthly minimum payment of about $275. That's equivalent to the fully amortized payment on a loan of the same size with Zero Percent Interest. You heard me right. Of course your mileage will vary with your credit history and the amount you are borrowing with respect to the appraised value of your property, but if you have a credit score of 620 or above and have at least 25% equity in your home, you probably qualify for this type of program. It's not quite as cheap as the start rate on the Option ARM, but it is a lot easier to understand and more stable to boot. The payment is fixed for a period of time, as is the interest, and you can make payments to principal whenever you want just like a regular Option ARM, but without the monthly rate variations. And it has a 15 year equivalent payment option on the payment coupon. Guess which one my mom likes to use? If you guessed the 15 you're right, but now that she's on a more limited income than when she was working, having the flexibility to make a minimum payment when necessary helps her during expensive seasons, like the Holidays (spoils the grandkids like you wouldn't believe), or my Dad's birthday! And with the cash she pulled out, all of her credit card debt has been paid off and consolidated, so her monthly expenses have actually decreased, even though she's been able to upgrade all of the floors, fittings and furnishings with the balance of the money. She loves it. I love her. Hey she's my mom. And if she's happy, I'm happy.

Making cold calls count

Cold callers are the bane of most of our lives. I do not know how they manage it, but cold callers manage to make our phone lines busy just when we are expecting an important call. And most cold callers refuse to let go of the phone lines unless you tire of being polite and rudely bang down the phone. The business of cold calling is such that a cold caller has to get used to phones getting banged on his ear. It is the twenty-first century equivalent to doors being banged on the faces of sales persons. However, not everything is negative about the sales calls that we keep on getting on our phones. For instance, let us take the case of cold calls in the field of credit cards. Now, most of us lack the time and the inclination to keep up with the developments in the world of personal finance. Moreover, it is tough to be able to keep a track of the various new deals that keep emerging. Every day on TV, we see advertisements promoting great new deals. Finance companies today, are neck deep in competition with each other. One wrong move could mean a great loss in business. Have you noticed the way in which a large number of UK credit cards come with various incentives to win over the customer? 0% credit card deals are certainly here to stay, as are deals which offer cash back and other similar rewards. Just compare the various credit cards on offer to see how each credit card company keeps trying to gain one-upmanship over the others. Just take a look at the various kinds of deals available in the markets. Then, compare them with the one offered by your friendly cold caller. Quite often, the cold caller has an even better offer to give you. Ask a lot of questions over that telephonic conversation so that you can get a better idea of the deal that is being offered. Then, do a little investigating of your own. Look on the Internet for similar deals and look out for the possible loopholes. It is quite possible that you are one of the lucky few to get such a great deal on a credit card. If that happens, maybe you should go out and celebrate for not having hung up the phone the other day. In fact, the next time that you are not all that busy, hear out your cold caller. He or she might have a great credit card deal for you.

Business funding where to go

The rate of interest on personal loans can be fixed or variable. In case of a fixed rate personal loan, the rate of interest remains the same throughout the loan period and consequently, the amount of monthly payments also remains the same. Loan market in the UK is swamped with enormous number of loan options. Different loans have been designed keeping in mind the diverse needs and expectations of the UK residents. The payday loan is credited directly into the bank account of the borrower. They may not have been able to maintain the desired gap between application and approval because of the uncertain nature of the expense for which the loan is needed. In spite of this, the borrower is given an instant loan, while the service charges are upped. You can use a personal loan for any of your miscellaneous needs. You can even use a personal loan to make daily purchases. However, you must avoid using personal loans to pay for daily expenses. Business Funding Every business needs money at one time or another. The process of obtaining financing can be daunting and the chances of success limited if it is approached in a disorganized or haphazard way. Lenders are conservative critters; however it is important to understand that it is their job to lend money, and they are happy to do so if their risk is reasonable. The chances of obtaining a business loan are greatly enhanced if you adhere to the following procedure. KNOW WHAT YOU NEED Understand how you intend to use business financing, how much funding you need and how you intend to repay the loan. Be able to communicate this clearly and confidently with prospective lenders. UNDERSTAND YOUR CURRENT SITUATION If you are an existing business, are you profitable, and does your balance sheet have positive equity? What does your credit look like? Have a clear understanding of any existing liens and lien priority. Know your credit score and answers to derogatory credit issues (liens, judgments, slow pays, collection actions) before presenting your application. If there have been credit, profitability or equity issues in the past, present a credible argument as to why these issues have been resolved or how this loan will change this situation. KNOW YOUR OPTIONS All lending is critiqued from a risk standpoint. Certain levels of risk will qualify for certain types of financing. The level of risk is reflected in the cost of the financing. The more secure a lender's money is, the less it costs you. Get creative. Financing takes many forms, and is available from a wide range of sources. Standard (conventional) bank financing usually offers the best interest rates, however it is the most difficult to qualify for. These loans appear as a long-term liability on the business balance sheet. Conventional loans are available through banks and other lending institutions and can be guaranteed in whole or part by the SBA. Revolving Lines of Credit are another form of business financing. This type of loan is secured by accounts receivable or inventory and is available from a bank or an Asset Based Lender. Credit cards are a form of revolving line of credit. An Asset-Based Line of Credit (ABL) is considered alternative financing and is available to borrowers who are too highly leveraged for a bank. Unsecured loans, on the other hand, require no collateral but almost always have a higher interest rate than secured loans. Some of these like the credit check are necessary for determining the reliability of the borrower. Personal loans are loans taken by people for personal reasons. This might sound as a vague definition of personal loans. Consolidation loans have loan terms ranging from 10 - 30 years. A good consolidation loan would be that which fits beautifully in your financial situation. Consolidation loans are advantageous to almost anyone because of the ease with which you can customize them to your financial stability and your choice. Secured loan helps borrowers in making the best use of the equity stored in his or her property that helps him in borrowing a larger amount of loan and that too for a longer loan term. Real Property, Equipment Leases and Notes are another form of business financing. In these contracts the collateral for the loan is the property or equipment itself. When there is no outstanding balance owed on the asset, the property or equipment could be used in a Sale-Leaseback transaction. Here, the asset is sold to the lender for cash, and the borrower leases the property from the lender until the loan is paid. Landlords can be a source of financing. It is not uncommon for a landlord to contribute dollars or rent concessions to the development of a tenant’s space. For this loan, the landlord may require a Percentage of Gross Sales Clause in the lease as repayment. Extended vendor terms for purchase of product may provide short-term operating capital loans. In the event that additional credit strength is required, loan guarantors or borrowing someone’s credit may help the borrower qualify for less expensive financing. Be flexible. Your final package may be comprised of several lending solutions PRESENT A CLEAR AND UNDERSTANDABLE PROPOSAL Lenders need to know who you are personally, professionally and financially. The lender needs to evaluate Income Tax returns (Corporate and Personal), financial statements (income statement and balance sheet) and a cash flow projection. The balance sheet has to look a specific way. The Current Ratio should be at least 1:1, and the Debt to Equity Ratio should be at least 4:1. Be specific as to how the money is going to be used and how it will be paid back. Lenders want to know what is securing their debt. Lenders evaluate the quality of the collateral, and want to insure that it is adequate to secure the debt in case of default. A secondary source of repayment is required prior to granting standard financing. The personal guarantee of the borrower is often required. In some situations, a lender may seek secondary collateral. Secondary collateral is simply some other asset in which you have equity or ownership, i. e. equipment, property, inventory, notes. Business funding is not difficult if the borrower is creative and realistic. Know how much money you need and how you are going to use it. Be prepared to defend your needs and anticipate the lender’s questions. In the event that a lender cannot grant your request, perhaps it is the way a loan is packaged. Find a lender who is willing to make recommendations that will help you find financing. A good lender will tell you quickly if they can help you or not. If an intelligent and organized package is presented, a timely response is warranted. The loan can be repaid over any term between 5 and 25 years, depending on your available income and the amount of equity in the property that is to provide the security for the loan. Debt is a hard thing to live with, reduce debts today! Online processing of loans is of special help in making instant loans possible. Online processing of loans does not simply mean using a computer for sorting and arranging data. Repayments options have to be studied carefully and understood before you apply for secured personal loans. Most people repay their secured personal loans before time and usually early repayments carry repayment penalties. Rate of interest very appropriately depends on the loan amount, repayment term and personal condition. There are lenders in the UK who can arrange loan for you and that too at a lower rate of interest. The Federal Direct Unsubsidized Stafford/Ford Loan is a direct loan the government charges you interest while you are in school.

Life insurance quotes how do i find the best

Before you invest your hard earned money in a life insurance policy, shop around and compare just as you would with any other investment. The best way to go about this is to obtain life insurance quotes from reputable companies. And in order to get an unbiased life insurance quote, search for a independent life insurance broker who can get quotes from all the life insurance companies. What Factors Lead To A Good Quote: There are some considerations to factor in when shopping for a policy: How much life insurance do you need? This depends on your age, whether you have children, how much you earn, how much you spouse earns, and how much money you have saved, which should all be discussed with your broker. Another consideration is your financial obligations, i. e. home mortgage, college education costs, dependent family members. Who should be covered? The untimely death of a spouse can create a substantial financial hardship on you and your family. Spousal income loss should be considered. A small life insurance policy may be advisable for your children to cover the funeral costs. Your children will need life insurance in the future and, their health condition or ability to pay the premium for amounts needed, may make buying life insurance on children a wise long term financial option. How should you pay? Mostly the amount of the premium can be paid from current income, while other times it may be advisable to use other assets to acquire enough insurance protection if it is a large amount. Where Do I Get This Life Insurance? Above all make sure you are dealing with a reputable company, because at the end your beneficiaries will thank you for your investment in life insurance and for leaving a legacy that they can benefit from.

Insuring your whole life

These days, life insurance has become a must. It provides protection to us and to our loved ones. Even if something untoward does happen, we can rest assured that the benefits will go to the right persons. In the world of today, money is security, and a life insurance plan goes a long way in providing this security. For some people, life insurance also works as an investment option. Insurance plans that build cash value and offer tax benefits can be regarded as being decent options for investment. However, insurance plans are primarily meant to build security. If one is looking for solely an investment option, it is a better idea to invest elsewhere. These days, we have a whole range of life insurance options. Looking at the very basics, we have a choice between term life insurance (which provides coverage for a specific number of years) and whole life insurance (which provides coverage for one's entire life). While both these come with their sets of pros and cons, I find myself in favor of the whole life insurance option. This possesses a number of positive aspects that is missing in the term life insurance option. First of all, whole life insurance plans invest part of the money amount that serves as premium and help build cash value. After a period of time, it may so happen that the cash value itself manages to pay for the policy. This is a big plus that is absent in the term life option. Moreover, most whole life insurance plans require only a single medical examination. Thus, one can do away with the hassle of periodic medical check ups, unless one decides to alter one's current plan. The tax savings that are incurred also work up to quite a large amount of money. In addition to these advantages, you could also choose from among three basic kinds of whole life insurance. The first of these is the traditional whole life insurance. This promises to pay the insurer a minimum rate of return on his/her cash value. A second kind is whole life insurance that is interest-sensitive. In this case, the policy offers a variable rate on one's cash value. The third type is one that involves a single premium. This is suitable for those who already have the cash to purchase an insurance policy. Thus, even after choosing between whole life and term life insurance, there are many other important decisions that have to be made.

Getting the right second property mortgage information

When it comes to buying a second property it is essential that you gather together as much about second property mortgage information as you possibly can. Taking on a second property is a big commitment and of course as you want the best start and the best advice then you should go to a specialist broker. A broker can deal with the mortgage for you to help you find the best available deal and along with this they will be able to give you the best advice when it comes to second property mortgage information. Finding a mortgage for a second property can be difficult; the options available to you for the second home will differ from those of the mortgage you took out for your first home and this is where expertise can really come into it. While of course you will have to pay for the specialist advice in the long run this can save you a great deal of money is you make the choice yourself. Of course the choices you have when it comes to the mortgage depend totally on what you are buying the second property for, if you are buying just as a second home or holiday home then this will make a difference as opposed to purchasing the property to be used as a buy to let rental. A broker can find all the second property mortgage information that you need once you have defined what it is you are going to do with your property. Turning the property into a buy to let can be a great investment but along with the mortgage repayments you will also have many other outgoings to consider including insurance for your new property. Again going with a specialist broker is the best way to fond what is needed to cover the property and yourself. In going for the buy to let the insurance which will be much more extensive but this is to be expected, however you can great deals in this just as with the mortgage. If you are turning the property into a buy to let then you have to make sure that the property meets the requirements set out. Theses include making sure the property is fully furnished and you have to make it available to rent for at least 140 days out of the year and make sure that you do let it for 70 days within a specific period of time. When it comes to second property mortgage information a broke is the most reliable way to ensure you get the best deal.

Building treands in atlanta

So how are the building trends in Atlanta? It is good to talk about the new and positive trends that buildings have to offer over those that existed before. Our building engineers seem to focus on the items that do not improve the lives of the buildings occupants. If you look carefully the same mistakes seems to occur over and over. That is, from one building to another. We are going to talk on some few building trends which we will wish people might follow and improve their building trends in Atlanta some day. Which type of question will a building engineer ask when he or she looks at a unique roofing style or system, how bad does the roof leaks? If it does not leaks, but how but how bad does it leaks? Every elevation of the roof and every architectural pitch change is one source of water leakage. The thing is that, no one is saying, a roof should be without a style. But, a professional should be consulted before roofing any complicated style or building trends followed. A roof warranty should not be given until the roofing system has proven itself for one year to be free of water leakage. This will weed out incompetent so-called professionals in the building industry. Questions such as Do you really think this building is not going to need the windows washed according to national safety? Do you really think that this story-building is not going to need a place to store paper products? It will be good to avoid such questions or conversations from people by bring in a building professional who knows the building trends in Atlanta. In some buildings you will find expensive revolving roof sits in the front facing the street. Surprisingly this door is the least used to the main body of pedestrian traffic. If you look carefully the entrance leading from the parking deck is a standard metal door that will always need repairs because of the heavy traffic. We will not even talk of the cold that comes blowing in when the door is open. Every building engineer knows that using a wooden bed will always need maintenance or repairs, but they also know that the sand bed system is nearly maintenance free. It will be good to consult these building engineers to reduce the cost of bed maintenance. What do you usually say when you take a look at a beautiful landscape? Special care is being given to the plants to be green. Who did the designing? Did a home inspector inspect the design which was made? To have the right answer of these questions, try to meet a professional designer or a building engineer. It will be good to start a new trend, if you want to construct a comfortable home. Get a seasoned building engineer who is constructing and designing modern homes not homes of yesterday. Start out with a concept in mind. Then sit down with an experienced contemporary architect who can help you put your ideas on design paper. Make sure that you are able to communicate with your architect easily. Ground-breaking new trends are needed, as a lot of people, especially the younger generation is demanding it. This will make your building to be easily marketable when it comes time to rent it out or sell it.

Need a mortgage... negotiate

The life of money-making is one undertaken under compulsion and wealth is evidently not the good we are seeking; for it is merely useful for the sake of something else - Aristotle For most, the cost of purchasing a home is the biggest financial decision of their lives and with the escalation of home prices over the past decade, shopping for a new home can be a bit traumatic when that perfect place is out of reach. Although, you must be realistic in looking for homes that fall within your budget there are things you can do that will help stretch your dollar and get you into the house you've always dreamed of. The process of buying a house really comes down to how much you can afford. The first step in the mortgage process is getting pre-qualified. In essence, when a loan officer pre-qualifies you for a mortgage (purchase or refinance) they work backwards to figure the maximum mortgage amount you can afford or that you qualify for according to the lending guidelines. Here is brief overview of how they do it. First of all, you need to understand that lenders only count income that can be documented. If you can't provide documentation of income then it can't be used. Here are few examples: It's easy to determine income if you are an employee on a salary. If you get paid twice a month then your income is simply multiplied by 24 to determine your yearly income. If you are paid every two weeks then your income is multiplied by 26 to determine your yearly income. If you are an hourly employee with little overtime then it's also fairly straightforward. However, it gets a little trickier if you work a bunch of overtime, receive commissions or bonuses because that portion of your income varies. What usually happens for borrowers that fit into this category is that the previous two years W2 forms are simply used and the past 2 or 3 months of actual income is used and then everything is averaged to determine monthly income. For self-employed or 1099 borrowers income is pretty much determined by what your net income indicates from you tax return. This is usually shown on Schedule C at the bottom where it indicates "profit" and with most lenders they want a two-year track record. However, more and more lenders, even lenders that focus on borrowers with less than stellar credit have become more creative in recent years and have programs that require less documentation. Some programs only require bank statements to verify income and there's even programs called "Stated" that simply use the industry average income for a particular profession, in a particular area of the country, without requiring any verification of income. Other ways to stretch your dollar when it comes to getting a mortgage is to pay close attention to all the fees. All fees are listed on the Good Faith Estimate which is required to be shown and explained to all borrowers before a loan can be approved. A key factor to remember in trying to secure any mortgage is that many of the fees, including the interest rate are negotiable. It's kind-of an industry secret, especially when it comes to interest rates, that interest rates are set in stone and out of the lenders hands but that simply is not the case. The actual interest rate you receive is up to the loan officer, and it can vary by up to a full point, even more is some instances, for borrowers with bad credit. The reasons behind this are beyond the scope of this article but the bottom line is this… don't be afraid to question your interest rate, regardless of what you've been quoted, because there's a good change you can get it lowered by an eighth or quarter or perhaps even more. Fees are another dirty little secret of the mortgage industry because most are negotiable. One of the biggest fees is the origination fee, which is normally 1% of the loan amount. This fee is simply all profit for the lender or broker and is totally negotiable. Don't be afraid to question this and get it down to a fixed dollar amount you can live with, especially for high loan amounts. Other negotiable fees include: appraisal fees, processing fees, credit report fees, closing fees and lender fees. Lender fees are common for borrowers with bad credit and in some instances it's as high a $995. This is an actual fee that the lender is charging the broker but if you question it the broker can go to the lender and tell them that this deal is dead if they don't lower the fee and in many cases they will lower it significantly. Remember, loan officers and lenders only make money if the loan goes through so it's in there best interest to do whatever it takes to make sure that happens. So… if you're prepared to walk from the deal because you feel the fees are too high or the interest rate is too high they will, in most instances, work with you. However, you must be realistic and if you expect virtually no closing costs and an unrealistically low 30 year fixed interest rate when you've got bad credit it's not going to happen. In summary, shop around and after you get the best deal then go to work and negotiate, negotiate, and negotiate the fees and the rate. And by the way, you can do this with good credit or bad credit, whether you are buying your first home, your tenth home or simply refinancing your current mortgage. Follow these guidelines and you could save hundreds, even thousands in closing costs and perhaps secure a lower interest rate that will save you money each and every month. Tip - For options in finding the best mortgage, new or refinance, check out the links below.

The meaning of a secured loan

You have probably heard the word ‘secured loan’, ‘second charge’ or ‘homeowner loan’ being used especially in the world of finance. You may wonder exactly what is meant by these terms. Some people think that secured loan say for the purpose of a car purchase means that the loan is secured against the car. They think that if the monthly loan repayments are not made the car will be reposed. This is incorrect. What is conventionally meant by the term secured loan is that the loan is secured against your property or rather the equity in your property. This means that if you do not keep up your monthly loan repayments your property can be reposed and sold in order for the lender to recover the debt. It works in exactly the same way as a mortgage in this sense. However, in this event your mortgage company will always have first right to the property to reclaim their debt and what is left the secured loan company can access to recover their losses from your unpaid debt. This is because your mortgage company will have first charge and then the secured loan company will have the second charge registered with the land registry. Don’t let this scare you as it is unusual for matters to go this far. Secured loan companies work hard to ensure through calculations and underwriting criteria to ensure that the loan is affordable for you. They also provide payment protection insurance so that the repayments will be made for you in the event of unforeseen circumstances like redundancy, illness or even death. This is why it is very important to consider payment protection on your secured loan. Do however, be aware of the risks as this is why the warning ‘failure to keep up your loan repayments can put your house at risk’ and ‘your home is at risk if you fail to keep up your loan repayments’. The main objective must be here to understand both the risks and rewards of a secured loan and to ensure that the repayments that you agree to are affordable. Now that you understand the risks lets explore the rewards and opportunities that a secured loan can offer. As you are securing your property as a guarantee that you will repay the loan and make your monthly repayments in return the secured loan lenders tend to offer you a very good overall deal. The interest rates on secured loans can often be lower than personal loans or unsecured loans or indeed credit cards or hire purchase agreements. Secured loans are often offered with lower fees if not no fees at all. Secured loans can be offered over a longer term to make your repayment even lower and certainly more affordable for you. The amount you can borrow can be larger with some secured loan lenders lending in excess of Ј100,000 in any one transaction. Therefore secured loans are often more suitable for large purchases such as holiday homes, extensions, home improvements as well as consolidating all your existing debt into one manageable monthly repayment. This could give you the fresh start that you need. Secured loans can be used for almost any purpose. Traditional and common uses for the secured loan include debt consolidation, refinancing debts, home improvements, car purchases, weddings to even once in a lifetime holidays and cosmetic surgery.

Things you ought to know about credit card offers

The credit card has long replaced bills and coins as top instrument of payment, mainly because it is easy to use, widely accepted, and relatively safe to carry along. People no longer need to bring attachй cases full of $100 dollar bills if they want to buy an expensive jewelry or piece of high-tech equipment. They just flash their card to pay for something. When traveling, you are assured that whatever happens, you have a credit card to rely on. Without the plastic, you will have to bring cash, which almost always attracts robbers and pickpockets. Because of the popularity of credit cards, many banks and financial institutions are competing with each other to get more and more people to use the cards that they are offering. Fortunately for us consumers, we get to choose which company gives the best credit card service that will fit our needs. Since there are many credit card offers in the market, you will surely find one that is appropriate to your budget and lifestyle. Here are some of the hot credit card offers you might want to consider: Cash Rebate In order to attract customers, many credit card providers, particularly banks, offer cash rebates. For example, you get one dollar for every 100 dollars you charge to your credit card. The rebates can either be deducted from your total bill or can be added to your available credit limit. Points System for Frequent Flyers Many credit card companies form an alliance or partnership with airline companies to provide their customers additional points that customers could use to exchange for vacation getaways or airplane tickets from the said airline groups. If the customer buys a plane ticket from their credit card provider's affiliate airline, they will not only get more points, but will also get huge discounts. Some airlines also provide travel insurance if you use their credit card to purchase airline tickets. Gender Focus There are many banks around the world that provide a special credit card for women. The special privileges, discounts and perks that are packaged with such cards are particularly designed for women. For example, they provide one free obstetrician or gynecological consultation per year. Sometimes, they offer gift certificates from shoe stores, salons, gyms, clothes and jewelry shops. Zero Percent Interest Another offer that is popular to customers is the 0% interest scheme. Usually, the zero interest is only limited to a specific period, such as one month, three months, or six months. In this type of offer, your credit card company will not charge any interest on the things that you acquired for a certain period. This is a good offer, but you must be sure to ask how much interest will be charged to you after the promo period. Extension or Supplementary Cards Although almost all credit card providers offer at least two supplementary cards for one principal card, only few offer free extension card membership. Thus, if you would like to give your son, wife or daughter an extension card, you might want to look for the company that offers free membership for such cards. Perks and Discounts From Affiliates You can get huge discounts, special treatment, rebates or freebies from partner establishments of some credit card companies. Thus, if you have a favorite restaurant or a preferred shop, you might want to choose a credit card company that has partnership program with your much loved stores and shops. Since there are many credit card companies that are more than willing to provide you with their credit card service, it is only but wise to choose the card that offers you the things that you need and gives you the best service and savings.

Refinance mortgage loans for bad credit can solve your money woes

You have been tossing and turning all night. Each time you check your alarm clock, you are amazed at how quickly a minute transforms into an eternity. Your heart starts thumping, you feel dizzy, and that pepperoni pizza you had for dinner sits in your stomach like a boulder. Big events in our lives can cause big stress to develop. A million thoughts rush through our head as we focus on anything that could go wrong. This prevents us from getting a good night's sleep, and then performing at our optimum potential the next day. In dealing with any problems, such as when we need to refinance mortgage loans for bad credit, the best approach is always to find the best solution to the problem. Only Known Problems Can Be Solved Face it: problems are part of life. These problems include the need to refinance mortgage loans for bad credit. A life without problems would not be a life in the real world. But how we deal with a problem could either solve it or create more problems. For example, if your car breaks down, you could either call a friend for a lift to work or school, or stay home and worry about how you will get around town. The first step to solving a problem is to define what the problem is. Sometimes people have problems making the payments on their mortgage loans. Perhaps there was a family emergency or an emergency health issue. Higher inflation or a lower income could also affect one's ability to make payments. In other cases, people simply want to consolidate their debts to simplify their lives. New Solutions for Everyday Problems After defining the problem, one of two approaches can be taken. Most problems can be solved with routine actions. However, sometimes innovative solutions are required. Where the case of needing to refinance mortgage loans for bad credit is concerned, one could argue that a little of both is needed. Refinancing is the act of applying for a secured loan, for the purpose of replacing an already existing loan. It should be noted that the same assets secure both loans. Where does the innovation come into play? You must determine which refinancing plan is the best for you when you refinance mortgage loans for bad credit. ARMs and Balloons If you want to refinance mortgage loans for bad credit, there are certain steps you should take. * In particular, consider the first loan that you took out. If you had an adjustable-rate mortgage, or ARM, for a few years, your loan's interest rate may have gone up. So the monthly payments on an alike fixed-rate mortgage at the current rate might actually be lower than your current monthly ARM payments. * If you take a new fixed-rate loan, you should consider the costs and interest rates. Shorter-term loans - for example, 15 years - are ideal if you want to speedily build equity. But if a longer-term loan commitment is not a problem, then perhaps you might consider a 30-year loan. * The balloon mortgage is another type of fixed-rate mortgage. These loans have lower interest rates for shorter-term financing-typically for seven years. You must refinance again or pay off the remaining balance at one time at the term's end. Life is full of problems, and sometimes solving them is not easy. So, when we refinance mortgage loans for bad credit, we should make sure that our solution does not create new problems.

Is online stock trading right for you

THE POWER OF INTERNET STOCKS The internet has opened up a world of possibilities from shopping to education to financial success delivered through a wire straight to our desktops and laptops. The internet revolution has empowered the small investor to educate themselves and to make financial gains in the arena of day trading and the internet stock exchange. The traditional hassle of finding a broker and reaching them directly via phone or even e-mail is rapidly becoming obsolete. Online trading has advanced the average stock broker into a whole new realm. For some it’s a marvelous pandemonium that has freed them from obsolete tradition. For others, online stock trading is a scary sea of the unknown and an abyss of pitfalls. Fortunately, with a little education and a little research the average stock trader can decide whether online stocks are the right tools for success or if they are more comfortable sticking with traditional venues. Exploring that education is vital even if you are already involved in online stock trading. There is always room for improvement and always more profitable ventures. THE BENEFITS OF INTERNET STOCK TRADING We already know that the stock market is a volatile and unforgiving arena. Some people do very well in the stock market while others lose every penny they invest. What is the difference between these two types of investors? Some would say luck, and while luck does factor into the picture in its entirety, it is a very low percentage factor in stock investments. Online internet trading still allows an individual investor the ability to obtain a broker and receive consultation, although most report that the brokers who rely on internet clientele are not as customer service oriented as the traditional broker whose brick and mortar office is just a few miles away. Online brokers tend to give most of their time and attention to the large accounts while the smaller accounts often fall to the wayside. That does not mean they do not provide a valuable service. It simply means that the service provided is about what you can expect of most online only services. Successful online companies have a very large clientele and can afford to lose a few who they consider to be a little too needy. However, the online stock broker tends to have lower fees and commissions in return for their lack of availability. Traditional stock brokers have the ability to receive orders online but their commissions remain about the same as calling them on the phone and dealing with them in the traditional fashion. Internet stock trades tend to be faster and more reliable, but beware, not all of them are instant. There are some basic options when it comes to buying or selling stocks online. Your request can either be set to a price or set to shares. Depending on the firm you are utilizing, you may not receive the same price that you noticed on the stock ticker of too much time has gone by or the stock made a sudden increase or decrease. This not all that different from traditional stock brokers, however there is the notion that anything online is instantaneous. Most firms, whether online or tradition will explain these details when opening an account. There are a few however, that expect you to do your own research and offer very little in customer support. The simple adage to this basic issue is look before you leap. THE EDUCATED STOCK INVESTOR It does not matter how good the firm is, or how good you believe the online stock program you have discovered is believed to be, nothing substitutes a solid education in managing your stock investments. The educated stock investor always has the advantage over those who place their financial future into the hands of a broker. Some believe it is too complicated to educate themselves, that the facts, figures, trends, and charts are beyond the average person’s ability to understand. This is not true. Investing is something that few people have explained to them in a way that is simple, basic, and easily understandable. Math, Science, and English are basics of our education as children. Stock market investing is left as this looming adult topic that exceeds our knowledge base. The truth is that the basic key elements of stock trading are really quite simple and there are resources out there to help us understand the wealth of information we tend to find intimidating. One of the best resources out there on the internet today for the investor looking to educate him or her self about online stock trading is onlinetradingideas. The beauty of this website is the simple breakdown of information so that the new investor doesn’t have to go into information overload and become overwhelmed with all there is to learn. The articles are informative and cover key points of day trading with concise information in readable styles. The stock market is a fluid entity. It is filled with changes and differing strategies depending on the current trends. For awhile the stock market seemed like an infinite gold mine. The trading days of the late nineties and the early twenty first century were littered with booming stocks that seemed to consistently skyrocket off the charts. Those days are gone for now, but may return. The same strategy one may have used then is not going to work in today’s stock market. Making sense of the stock market news briefs, media tickers, and hot tips takes more than just the basic eye for low figures and basic gains. Again, that is where the educated investor can develop a strong plan and a concrete investing strategy that can help him surf through the more volatile days of the stock market. Even the best of internet stock traders can lose money in the online stock market. It is always best to exercise caution when beginning your trading career. Whether you are just looking to make a little extra money for retirement, college tuition, or are looking to earn a living from internet stock trades, there is an element of risk involved. Stock trading is the equivalent of highly educated gambling. Anything can happen and there are simply no guarantees. SUCCESSFUL INTERNET STOCK TRADING Even with the volatile markets and the risks involved, success is till possible. The best way to approach the online stock trading arena is to develop a strategic plan based in realistic expectations and grounded in the basics. Be selective, especially in the beginning. Just because a stock looks good at the onset doesn’t mean you need to go throwing all of your assets into it. Many stocks look good at first glance. Being selective means approaching your investments with a bit of skepticism and realism. One of the best ways to be successful is to listen to those who are already successful. Again, one of the best resources for all in one place information is the remarkably informative website onlinetradingideas. With quick tips and in depth advice and intelligent commentary, this web site has something for everyone, and every investor comfort level. It’s a great place to go if you’re considering using an online discount broker or figuring out if one of the top sites is better for you. Online brokers vary, and some who claim themselves discount also claim to service the small investor better. But beware, a simple course in one of the many online trading academies does not make anyone a professional. Of course it’s good to be educated but there is still a difference between the professional broker and the good enough amateur. Online investing, or any investing for that matter, is difficult enough. It’s truly not worth the few bucks saved in measly commissions to deal with anyone less than a professional. Anyone promising ridiculously high returns in short periods of time is not a professional, at least not a professional online stock broker. Be sure you know the sea you’re swimming in. UNDERSTAND THE STOCK OPTIONS It’s an exciting venture, to be able to log on to any computer anywhere in the world and follow your money twenty four hours per day, seven days per week. Before you set your sights on the stars, however, make sure you really understand you options. Take the time to really look into what professional experts and successful investors are talking about to give yourself a fair chance. Online investing is difficult enough without having to deal with a sea of sharks out there, and they are out there. Carefully read through the articles and information posted on onlinetradingideas and evaluate the options available to you, your risk tolerance, and even whether online trading is right for you. Most people are truly finding benefits in the online trading revolution, but of course there will always be the few who insist on a broker that can return a voice mail and deal with them directly when the need arises. Don’t forget to have fun. This amazing technology wasn’t even available to most of our parents, and of course their parents wouldn’t have imagined it in their wildest dreams. The future is there for those who want to make the most of it. Take your time, get informed, and when you’re ready you will swim.

Bank of america credit card special programs

Partnered With Hundreds Bank of America credit cards are available from nearly 400 organizations, companies, and credit providers; there is a style for every person and for every degree of credit worthiness. Charitable Foundations Many charitable foundations have Bank of America credit cards with their logos on them which contribute a percentage of the cards spending to the cause as part of their reward program. Habitat for Humanity, Make-A-Wish, and The Humane Society of the US are some examples of the Bank of America credit cards. Professional Organizations Professional organizations also lend their signet to Bank of America Credit cards; these credit cards provide the holder with such benefits as no annual fees, low annual percentage rate, and career oriented rewards such as redeemable points for all money spent using the card, bonus points for traveling expenses, and unique gifts to spend points on. Military Credit Cards Bank of America credit cards for military personnel provide specialized credit services for ever branch of the United States military; the benefits of these cards include no annual fees, zero or low annual percentage rates, and great travel rewards with no limitations for times of use. Outdoor Sports And Recreation For people who love nature, Bank of America credit cards are available for most people’s wildlife passion; some participating members include American Quarter Horse Association, Great Wolf Lodge, and the Kentucky Derby. Also national sporting good stores and outdoor hobbies have credit cards available; these cards will donate money to the organization the card represents when new accounts are opened and when the cardholder spends using the card; these cards also offer platinum benefits like redeemable point rewards and low account maintenance fees. Sports And Travel The Major League Baseball, Bank of America credit card is one of the special sports fan credit cards the company offers; these cards give the entire benefits one would expect from a platinum credit card plus special bonuses just for sports fans. Travel rewards cards partner with such companies as Sandals and Beaches to bring frequent travelers specialized reward programs; the Bank of America credit card holders will enjoy extra miles earning on certain purchases and easy to obtain travel rewards, just by using their credit card. Other Services In addition to platinum credit cards, Bank of America credit cards are available to people with all grades of credit; Bank of America has secured credit cards, student credit cards, classic credit cards, and gold credit cards. Bank of America offers credit cards from Visa, Master Card, and American Express to give its customers one of the largest selections of any national bank.

Why do people apply for credit cards

People acquire credit cards for different purposes. There are lots of uses a credit card could have a use for, so almost all people have credit cards. Some will apply because it is a very convenient way of shopping goods anytime even without the cash. To others, they apply credit cards simply because of the customer reward they get after purchases. Some people would apply for a credit card because of the famous and juicy offerings by a certain credit card company, not to mention greater customer services and programs. Other people apply for a credit card for the reason that the products they purchase will have protection from the credit card company. This usually is the case when something has happened with the item you have paid through the credit card and the credit card company will pay for the loss by reimbursing the amount. Some people will have a credit card because it is the most convenient way to pay for online shopping. Online shopping can be the most convenient way of shopping to some people, especially to those who have not had time for going out to malls. Online shops usually charge their clients through credit cards. Other people have credit cards so they can use in terms of emergencies. Almost all people experience emergencies without cash at hand, so it becomes difficult for them to handle the situation. The credit card will save them from this situation, so it is another convenient use the card could provide. Some people apply for a credit card simply to establish credit card records they can use for future credit transaction with banks and organizations. And lastly… Other people apply for a credit card for the convenience of not carrying cash around, which can be sometimes scary. After all, lost cash could be lost forever, while a lost credit card can be easily cancelled so you don't have lost anything at all. Those things are the typical reasons why credit cards are popular to most people and all because of convenience; whatever the reason, applying for and using a credit card should not be done in an impulsive manner. A credit card can be most convenient way for you to use as financial alternative tool, but it can be worst for you. This is because it should be utilized most only by people who can manage its use. If used in a careless manner, you will have the consequences of financial setback later on. For you to know if you could be able to handle a credit card and finances in the wisest manner, you have to take the most key point about the card and its essentials. You have to think if you will be able to settle the bills when they arrive after using the credit card. Debt with a credit card is typical scenario because of the inability of the cardholder to immediately settle his obligations. It happens when he does not pay attention to the way he spends; thus, accumulates bigger bills at the end of the period which covers the bill. If a person cannot pay for the bills in full, and instead pays them in partial. There is nothing wrong with this, but the problem arises when the balance remains longer because it means higher interest rates. Fees climb even higher, when there are no appropriate funds to cover the bills. In this case, it is important that the cardholder will have the best management of how he would be using the credit card to avoid financial strikes.

Credit card debt consolidation 101

In today’s way of living, more and more people are using credit cards everywhere to purchase to their heart’s content. Credit cards are a very convenient form of money for the buyer and also the seller, and they are widely accepted all over the world. People often purchase several different credit cards and so can easily lose track of what they have been buying and get indebted to their credit card companies by making late payments or not being able to pay at their budget is a big mess. As a respond, high interest rates, late payment fee, service charges and other financial penalties are used by creditors, causing the monthly bill amount to exceed significantly from what you have actually spent or what you can afford. This problem also comes along with collection calls from the many creditors that want their money and thus can easily steal anyone away from the peace in his life. Credit card debt consolidation is exactly what you need if this is also your problem. Free credit card debt consolidation services are given by many companies with a devoted staff that will help you get by this unpleasant situation. Free credit card debt consolidation is very useful if you have more than one credit card and need a change in your budget planning in order to straighten up your financial condition. The low interest that free credit card debt consolidation services require is the first factor that helps you with your monthly payments. Furthermore, by merging your debts and dealing with only one single monthly payment for the credit card debt consolidation company that you have chosen, you have much more time to breathe and make some changes in your life along with the peace of mind that clarity and order in the mess that was before brings. Credit card debt consolidation is a program especially built for the individual and is kept in complete discretion between you and the company. A dedicated staff will be there to pinpoint your special needs and look for the most simple and practical methods to completely pay off your debts and make a positive and consistent financial change in your life. From the single payment they receive from you each month, they come up with a payment plan that suits you best and is also acceptable for your creditors, also taking care immediately to pass the money on to them. With the help of the credit card debt consolidation staff of experts, you can receive new terms from your creditors that will make your situation easier to deal with, terms such as lowering the interest rates, yielding on late fee or giving a short payoff period. New payment terms between you and your creditors can help you get back on track a lot faster with the help of the credit card debt consolidation devoted staff. You can save large amounts of money simply by receiving lower interest rates, and along with lower payments you have more time to pay off your debts while having better chances of actually paying it instead of being left with nothing at hand. Since you have only one payment to deal with, you are spared a lot of trouble from dealing with many companies and writing various checks, while saving more money by getting professional help in planning your budget and make some changes in your life. By using Free credit card debt consolidation you can be one of the thousands who have succeeded in clearing out their debts and live a better life with economic security.

Ease your family concerns about senior car insurance

No one looks forward to the day they need to tell a parent, or both parents, that it is probably time to stop driving. Even if their driving skills have become dull and dangerous, no one wants to tell an older person they should no longer drive, or that their driving abilities have reached a point that they are possibly putting themselves, and others, at risk when driving. No one wants to have to take that freedom away from them. However, confronting an older driver, whether the older driver is a parent, a grandparent, or even an aunt or uncle, always climbs near the top of the list of family concerns at some point, and older drivers do not always understand that their family members are simply concerned about their safety. One way to ease your family concerns about older drivers is to help prevent, or at least slow down, the deterioration of their driving skills. Before you jump the gun and start reaching for the keys before the older driver even starts showing signs of deteriorating driving skills, allow the older driver to practice driving. Keep an eye on him or her, and watch for what may be signs of weakening driving skills. If you seen any, offer to take a driver with the older driver, and help him or her strengthen those driving skills. Also consider contacting your automotive insurance company. Many automotive insurance companies have programs designed to help “re-teach,” or sharpen, the driving skills of older drivers. These programs are beneficial not only to older drivers who may be losing their touch, but also to older drivers who simply want to stay on top of the game, so to speak. Automotive insurance companies offer these programs in order to help keep everyone – drivers, passengers, and pedestrians alike – safe on and near the roads, and by keeping everyone safe, automobile insurance policies can also be kept low.

Why using credit cards can be an advantage

There are many types of credit cards available that can be used depending on your circumstance. These include pre-paid, gas, small business, travel rewards, air miles, hotel points, student, unsecured or secured credit cards. Pre-paid credit cards are more less like debit cards except that they do not come with a bank account, gas cards are usually used most times for the purchase of gas. Discover provides very competitive gas card rates. Secured credit cards are usually provided for people who want credit cards but have bad credit or no credit history. A deposit is usually required up front as a guarantee in the event of non-payment. Usually background checks are made, but due to the competitive nature of the credit industry, most providers offer guaranteed approval without credit checks. Student credit cards are designed specially for college students. With very competitive rates by different providers, there are many to choose from. It is a great way to build credit history if used appropriately. Some of the major credit card providers are American Express, Mastercard, Visa, Discover, Chase, Advanta and many others. Such is the competition amongst providers that, credit can be obtained at unprecedented low rates these days Credit cards are here to stay and it is hard to imagine them not being part of our normal lives. There may be negatives but credit cards are useful in many different ways. For instance, using money form your bank account to pay for your holidays can cost you a lot of money should things go wrong and your holidays not materialize. Using a credit card for the purchase however means you can have your money back due to the general Terms and Conditions written into most credit card contracts. There are many instances where people have benefited from using their credit cards for purchases instead of using money directly from their bank accounts. Take for example the Mrs Bretton, who booked a party venue for her toddler's party three months in advance only to be told six weeks before the date that the company had gone bankrupt! She however, received her money back after making this known to her credit card company. For others in her shoes who avoided using a credit card, they would have to wait for the administration accounts to determine whether the are likely to get their money back. Credit cards are also a great way to start a business. Banks can be intransigent these days and lend nothing or very little to people looking to start businesses. This is where a credit card can help. Unlike a loan, payments are not fixed and depending on how much you borrow you and so long as you make at least the minimum payment, a credit card can be used to make small purchases for your business. It is important to pay attention to detail if you do so and pay your balances or payment due on time. Even for people who have no debt, using a credit card for certain purchases is much wiser especially if buying on the internet. Goods and services such as holidays are better acquired using a credit card for reasons already mentioned above. In addition, it is better to have a credit card and pay of the balance every month so as to have some form of credit history than to have no credit history. This can hamper any future need to borrow a big loan whether for business or for a home. Ideally we would all like to live debt-free, but such is the invasiveness of credit cards that it is nearly impossible to avoid them. It is also a way of measuring the credit worthiness of people. All in all, if used properly, using a credit card can be a positive rather than a negative experience.

Choices for self employed health insurance

Going into business on your own can be a very scary proposition. Worry seems to crop up at every turn. From finances to ensuring enough work to actually stay busy, concerns people didn't even think could become concerns will! There's at least a little comfort to be had on the self employed health insurance front; options are available. Finding the best possible self employed health insurance will very likely depend on personal circumstance, however, and even the state in which one resides. For example, some states require insurance companies allow the inclusion of the self employed in group health plans under special circumstances; others do not. The basic things to look at for self employed health insurance, include: * Necessity. The self employed will generally find if another option is available, such as a spouse's group coverage, it will be the best overall choice. The coverage premiums tend to be less and the overall protection better in a lot of cases. * Number of employees. If you're going into business on your own, with no employees, it might be difficult to get into a group policy. When this option is present, however, it tends to offer the greatest coverage for the least amount of money. The number of employees in the business can open the door for group coverage. Also, if you are going it alone, check closely to see if your state offers any group health coverage loopholes for the self employed. This could save you a bundle. * Type of coverage desired. This will greatly impact the options and prices being offered. Decide if you want an HMO, PPO or simply catastrophic hospitalization coverage. The first two options are the ones most people tend to go with, but the last has some benefits in a pinch. * Money available to spend on premiums. This, unfortunately, will be a big determining factor for many - especially the newly self employed in most cases. Policies can range from a little over $100 in some cases to well into $1,000 or more. Once decisions have been made, it's time to shop around. The best way to do this is to stake out a decent block of time and do some major comparison shopping. Plan on receiving a lot of telephone calls and placing them, even if the Internet is used. To make the determination on the best possible plan for self employed health insurance, it's important to look at the overall picture. Consider such things as deductibles, monthly premiums, overall coverage, out-of-pocket expenses and even drug coverage. The best options will generally rise to the top pretty quickly. Going into business can be a fantastic step for freedom and financial security. It can, however, bring a lot of worry with it. Shopping for the best self employed health insurance tends to be one of the very big concerns that come along with this proposition. Take the time to fully research the options to find the best possible coverage for the most economical rate. Doing so can pay off down the road.

What you need to know before filing for bankruptcy

Bankruptcy has become a kind of "quick fix" for debt that has gotten out of hand. Many people think it is easy to wipe the slate clean and get rid of debt by going bankrupt. It isn't that easy, however, and it should only be used as a last resort. The actual procedure for filing - the paperwork process itself - is relatively simple, but it goes beyond that. You'll need to be able to justify the reason for bankruptcy, which will open your financial history for inspection by the courts. It will also be open to objections from your creditors, who obviously have an interest in stopping you from declaring bankruptcy. There are also several long-term effects that bankruptcy can cause. Any credit cards that have balances that are wiped out by the bankruptcy will obviously be cancelled, but any other credit card accounts you have will likely be closed as well. You will find it difficult to qualify for loans for a home, car or other large purchases. If you are approved, it will likely be at interest rates that are much higher than the norm. Not all debts are cleared by filing bankruptcy, either. Student loans, outstanding tax bills (within the previous 3 years) and a number of other forms of debt will be exempt, leaving you with those payments even after going bankrupt. A bankruptcy will remain on your financial record for 10 years, during which time you will find it difficult to qualify for any kind of financing, even if you keep a perfect credit record during that time. A bankruptcy is generally viewed as a particularly bad mark on your credit score - more so than a low FICO score, late payments or other problems. There are cases where bankruptcy is the best solution, however. It will stop debt collectors from hounding you (provided they receive the proper notification), any foreclosure proceedings will be stopped and your wages can not be garnished. If credit card debt is partly to blame for being in a position of bankruptcy, there can be another hidden benefit. Because you won't be able to qualify for credit cards after a bankruptcy, you will be forced to stop spending irresponsibly since you won't have access to any credit cards. Making the decision to declare bankruptcy can be painful, but if it is inevitable, the sooner you can get it done the better. It will ease the stress of dealing with unmanageable debt, and you'll start to build a new credit history to replace the old one.

The nightmare of credit card debt and how to beat it through debt consolidation

‘Credit card debt’ is a much discussed topic in the commercial and social circles. A big section of the population has been bit by this bug called ‘credit card debt’. Can’t blame them much; as such, it’s pretty easy to fall prey to this bug. The main reason behind so many credit card casualties (rather credit card debt related casualties) is that many people don’t understand the concept of credit cards properly. They treat credit card as free money that is never to be returned. Thus all the discipline, which would otherwise have been exercised with spending hard-earned money, goes for a toss. That means people overspend and get into credit card debt. They keep spending till they reach the credit limit on their credit card. Some people go to the extent of treating that like a game and consider it a defeat (or consider their credit card under utilised) if they don’t hit the credit limit quick enough. These unnecessary spends result in a situation where they are not able to payback their credit card bills and end up paying interest on the amount they owe. This keeps building up their credit card debt and they soon find that the interest component has become a regular feature in their monthly expenses and it is there even if they spend nothing on their credit card. That is credit card debt on the prowl. Soon they find that their current credit card can no longer handle their needs and start looking to get another credit card. With the new power of credit, they let themselves loose again and follow a ‘shop till you drop’ routine. Soon the credit limit of the new credit card is reached too and they again default on payments. This is how credit card debt builds. Soon they learn about credit card debt consolidation and other credit card debt elimination techniques. They are quick to grab such credit card debt reduction techniques, but that’s not because they are serious about reducing their credit card debt but because of the attractive low APR offers. As if it were booty, they again get back to building up their credit card debt. All the while they are spoiling their credit card rating and they soon realise that no one is ready to lend them money because of their credit history. They can only get a secured credit card now (where you first deposit money into your credit account and then only you get the privilege of spending it (50-100% of it) using their credit card. Credit card debt collection agencies, auction of their goods and bankruptcy is the next thing that hits them and their dream run is blown away in a moment. The moral of the story – “Understand the concept of credit cards and treat credit card debt with all seriousness”. Now we will shift our attention to Credit Card Debt Consolidation. Credit card debt is a nightmare of a problem and unfortunately there a lot of people who face this today (and if others don’t pay heed, they might get trapped into credit card debt too). Credit card debt consolidation is generally regarded as the most important step in credit card debt reduction and elimination. So what is ‘Credit card debt consolidation’? Credit card debt consolidation is the process/strategy to consolidate debt from multiple credit cards into lesser number of credit cards (ideally one or two credit cards). Credit card debt consolidation is sometimes also referred as a balance transfer where you transfer your balance on one credit card to another credit card. Generally, the balance transfer (or credit card debt consolidation) is done from credit cards with higher APR to credit cards with lower APR. Credit card debt consolidation can also be achieved by going for a bank loan (at a lower interest rate) and using that towards paying the debt on the higher APR credit cards. This loan is then paid-back to the bank in the form of monthly installments. As you would have noticed, a lot of credit card suppliers and banks keep coming out with attractive offers for Credit card debt consolidation (or balance transfers). There is no dearth of 0% APR offers for credit card debt consolidation. However, credit card debt consolidation is a serious exercise and you must exercise caution so that you don’t get into deeper trouble. When going for credit card debt consolidation, you must properly analyze the offers from various banks and credit card suppliers. Check the time period for which 0% APR is being offered and also the APR that would be applicable after the lapse of that period. Generally, 0%APR is valid for a 6-12 month period only. So, if you are confident of paying back a considerable amount of debt in that period, this kind of credit card debt consolidation will work for you even if the APR (post 0% period) is a bit higher. However, if that is not the case, the long term APR is going to be the most important thing for you. If the long term APR is more than the APR for your current credit card, this kind of Credit card debt consolidation will be futile for you. Also, check processing charges etc before you actually go for balance transfer or credit card debt consolidation with another supplier/bank. Another good idea is to check with your current credit card supplier and see if they can offer a lower APR to you in order to help you in clearing off your debt (you would be surprised that they do oblige at times and hence eliminate the need for credit card debt consolidation). It’s important that, with credit card debt consolidation, you also inculcate good spending habits; otherwise credit card debt consolidation would really be of no use to you.