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Places in the Philippines You Just Can’t Afford to Miss

Some places are so special that you simply cannot miss it. Yes, there are such destinations in the world. In fact there are many tourists and those who love to travel who know most of those places. There are also quite a number of such places that might not yet be known but also deserve to be given the recognition and the spotlight.

The Philippines have many places that are so special that any tourist just can’t afford to miss it. This Southeast Asian country is indeed home to many amazing tourist destinations that need to be visited, explored, and certainly need to be appreciated. In other words, the word must be spread about those great destinations.

For many, just reading about those wonderful places is not even going to come close to actually being there and experiencing everything that the place has to offer. But it would also serve to inform more about those wonderful places in the Philippines that any traveler just cannot afford to pass up.

Here are a few of those places that can only be found in the Philippines:

Vigan

Any visitor to the historically rich town of Vigan will feel as if he has been transported back in time, during the Spanish Colonial Period. This period lasted for well over three hundred years in the Philippines, hence the rich traces of Spanish influence in the local culture. In Vigan, the influence is not only felt but can definitely be seen and experienced.

The town is very well preserved even as it was established way back in the 16th century. It is perhaps most famous for the Spanish-era homes that are lined up against cobblestone streets, giving it an authentic old feeling. The cobblestone streets however, have already undergone restoration. The town of Vigan was thankfully spared from being devastated during the onslaught of the Second World War. It was spared by both Japanese and American forces, a very fortunate circumstance that has allowed the people of today and the future to continue enjoying this unique and beautiful historical town.

Banaue Rice Terraces

The Banaue Rice Terraces are true wonders that inspire awe and admiration to anyone that beholds it. This destination should be on the list of must-see and must-visit places by every Filipino and every tourist to the country. For those who are truly interested to see and experience true wonder of the world, it would be helpful to learn that there are actually several rice terraces in Banaue. Three of those are the most prominent and most visited among all the rice terraces.

Those are: the Grand Rice Terraces in Banaue; the most preserved one due to the difficulty of even getting to the place being the Rice Terraces of Mayoyao; and the Rice Terraces in Batad, which is also among the most visited because the Tapia waterfalls present a natural venue for swimming. The Ifugao knowledge of constructing and preserving the rice terraces is something that has been passed from one generation to the next and this has been going on for the last 2,000 years. It was a technique that was probably dictated by the shapes of the mountains, with the contours as the foundations for the rice paddies, and natural irrigation being provided through gravity. Anyone who wants to see a display of how man and nature could work hand in hand to achieve positive results, then the Banaue Rice Terraces is highly recommended.

El Nido Resorts, El Nido, Palawan

El Nido Resorts in El Nido, Palawan is one of the best known tourist destinations in the Philippines. It is especially well known by foreign tourists, proof of that being the 2009 Responsible Tourism Award given by Wild Asia. It was also included in Travel + Leisure’s Favorite Green Hotel for 2008. There is no doubt that El Nido Resorts is employing a very successful tourism program that is centered on environmentalism as well as sustainable tourism, and others can’t help but feel inspired by what it has achieved so far.

You can’t go to El Nido Resorts without having gone to what is considered to be one of the best, if not the very best, white sand beach island anywhere, and that is Entalula Island. Being owned by El Nido Resorts means that visitors could reserve it for whatever private events they might want to be held there. Other great places to stay are Lagen and/or Miniloc Resort.

Taal Volcano

Taal Volcano is a very interesting tourist destination or simply a place to visit. Its description alone is enough to convince people to go and see it for themselves, being called “a lake that’s located within a volcano, that is inside a lake, that is within an island”. Now who wouldn’t be intrigued by such a description and would like to see it right away? Taal Volcano is made distinct by the fact that it is one of the smallest and lowest volcanoes anywhere in the world.

The picturesque nature of the lake doesn’t hurt it either. Another reason why it is an attractive place for tourists is that it is very accessible from Metro Manila, being less than a day away from the nation’s capital. Even the journey to the volcano can already be considered an adventure in itself. The first part involves driving down the mountain by going through a steep and winding path. Then in order to get to the base of the volcano, tourists would have to ride a boat to cross Taal Lake. To go to the crater, there are two options – either ride on horseback or go by trekking. Going down the slopes would be done by hiking.

Philippine Baroque Churches

The Baroque Churches of the Philippines represent of the most lasting, profound, and visible proof of the influence left by the Spanish colonizers that was in control of the country for 365 years. Indeed, those churches are among the most impressive examples of Spanish colonial architecture from the latter part of the 16th century. This beautiful architecture can be considered as Filipino and Chinese builders’ own interpretation and version of the Baroque style in Europe.

What made those churches really unique was the fact that it featured Earthquake Baroque architecture, which features large and carved buttresses that are useful as supports during the event of earthquakes. Perhaps the most impressive example of this particular type of architecture is the San Agustin Church located in Paoay, Ilocos Norte. Another one is located in Santa Maria, Ilocos Sur, and the Nuestro Senora Church. In Manila, there is the Immaculate Conception Church found within Intramuros.

Amanpulo Beach Resort

Amanpulo Beach Resort is one of the most after travel destinations in the Philippines. If you are someone who is aiming to travel to any point in those wonderful islands, then Amanpulo should be at the very top of your list or at least very near it. To describe it as the ultimate Philippine destination is pretty much an accurate remark. Its actual location is in Pamalican Island in Palawan and this secluded, very private beach resort is owned and operated by Aman Resorts. Its privacy and tremendous natural beauty is what really sets it apart, just be ready to spend a lot of money to enjoy the experience.

These are the top places that you should visit in the Philippines. The amazing thing is that with over 7,000 islands there are other equally stunning places that are worth visiting in the country.


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How to avoid credit repair scams?

Credit is something that’s very important for everyone. Having bad credit can be a great blow to one’s personal finance. Taking care of your credit is something that you should be aware of most of the time. There are some actions that could have a negative impact on your credit and you should be aware of those actions so you can avoid them. You should be aware of how to take care of your credit right from the start.

But what if you get a bad credit? After the recent financial crisis many households are still struggling to get their finances in order. Some consumers might have bad credit through no fault of their own. Sometimes getting a bad credit record is inevitable. What can you do then?

There are certain steps that you can take in order to repair your credit. Your situation is not hopeless but it is not going to be easy. You should also be aware that there are certain scams out there targeting consumers like you who are aiming to repair their credit. You have to be aware of what these scams are so you can stay away from them. Falling victim to one of these scams could only make things worse for you.

New Credit Identity Scams

One of the most common credit repair scams out there is to use a new identity in order to get you credit. Credit repair companies that do this sort of scam would offer to give a new social security number. That way, your old credit history with the bad information is not going to be identified with you. This is a dangerous step because using a social security number other than your own is illegal. You could face a term in prison if you are caught doing that. That’s how seriously illegal that is. You should never agree to such a step and not have anything to do with a company that would offer that move.

Some of these companies use stolen social security and sell that. These social security numbers are taken from children so there is no credit history attached to it yet. Other companies that promise a new credit identity will give you a new number. They might call it as a credit profile number or CPN. It would look like a social since it is also a nine digit number. Other companies would tell you to get an EIN or an Employee identification Number. This EIN is a legitimate number used by the IRS, but it is not meant for getting credit. After getting these numbers for you, these credit repair companies might then tell you to get credit using those numbers, instead of your social.

Again using a social other than your own for transactions is illegal. Do not listen to what these companies would tell you because you could end up with more trouble if you try to use someone else’s social security number. You do not want to end up having legal trouble instead of just having personal financial problems. It is illegal to lie when you are applying for a loan or credit. It is also a crime to get an EIN under false pretence, so don’t just do what the credit repair companies would tell you.

Using Dispute Claims

Other unscrupulous credit repair companies might use other tactics that might not be illegal but are unethical and which could still cause trouble for you in the long run. One example of this is the way they take advantage of how credit reporting works. When an entry in a credit report is disputed, the entry would be removed from the report while the dispute is being processed. That would normally last for 30 days. That is what some credit repair companies take advantage of. They would flood the credit bureaus with disputes, even for entries that are legitimate. That would give enough time for the consumer to get a new credit card or obtain a loan. As mentioned, this practice is not really illegal and it only takes advantage of a feature of the way that credit reporting works, but it is very unethical and you could still end up in trouble because of it.

Do Nothing Scams

An even more common type of scam is the do-nothing scam of credit repair companies. The companies will promise a great deal of positive results and fast action. But after taking in payments from consumers the company will actually do nothing. The trusting consumer will be led to believe something is being done about his bad credit, but in reality nothing is happening. Finally when the consumer becomes fed up with the situation he will try to confront the company or ask for a refund but by then the firm has disappeared. Only then will it become obvious that it was all just a scam.

How to Avoid Credit Repair Scams

The best way to avoid credit repair scams is to stay away from companies that promise to aid you when it comes to getting your credit in order. In reality, even the legitimate credit repair companies cannot do anything that you cannot do on your own. But when you have decided that the services of these companies could benefit you, the best thing for you is to know your rights. When you are aware of your rights then you would know when a credit repair company is trying to pull off a scam.

Credit repair companies are governed by what is known as the Credit Repair Organizations Act. This law requires that a credit repair company should fulfil certain obligations to you first. It would be useful to know what this law states before you try the service of a credit repair company.

Signs of Scams

There are many credit repair companies that out there to scam people like you. It would help you out to know some of the signs that you should be on the lookout for. One sign that a company is out to scam you is the fact that they do not want you to know your rights as a consumer under the law. They are required to give you a copy of the Consumer Credit File Rights Under State and Federal Law which would tell you what your rights are. When they do not give you a copy of that, you should be worried already.

Another warning sign is that you are not given a copy of the contract that you have with them. Getting a copy of the contract is also your right. Sometimes the contract that the companies provide does not have enough information. If the contract does not state the information about the services that you will be getting, how much you will be charged, the name of the company, the date by which the services are supposed to be performed and a statement stating that you can cancel the services then you should demand more. One common practice of credit repair companies that are out to scam consumers is to ask payment even before they have done anything. You should never agree to this and if they insist then you should not get the services of that company.

When a company asks you to waive your rights under the law by signing the document then you should be worried. If they are asking you to waive your rights then that just means that they are planning on doing something that might violate those rights.

Some companies will also offer to have accurate information on your credit report to be removed. But that is never a good thing. If you know that information on your credit report is accurate no matter how negative it is then you should just live with that. Trying the services of credit repair companies could only result in more problems in the future. We have discussed companies using new credit identities. Any company that would offer that to you is a scammer and you should not have anything to do with them at all.

If You Have Been Scammed

Have you been scammed by a credit repair company? If you have become a victim then don’t just let them get away with that. You should do something about it. You should report the company immediately so that appropriate actions can be taken. You can send complaints to the FTC or the Better Business Bureau.

It has been mentioned already that there is nothing that legitimate credit repair companies can do which you cannot perform on your own. You need not get their services at all. Why pay someone to do something that you can do on your own. Doing your own credit repair is also a lot better because you can focus on it and be sure that some action is being taken instead of just waiting for someone to help you out. You just have to arm yourself with enough information that can set you on the right path.


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Things that will kill your credit score

Credit score is very important and it’s a must to do everything in one’s power to take a good care of it. The problem is that credit score can be a very tricky thing to handle to say the least. There are some moves that are obviously harmful to it. For instance, having a habit of paying late. But then again, there are also some moves that aren’t so obvious when it comes to its negative impact. In fact, there are moves that are thought to be beneficial, but turn out to be harmful to credit score in the long run. It is therefore useful to know the things that can cause harm to your credit score so that you can avoid them.

Credit Basics

First of all, you have to get some things about credit score straightened out. Credit score is your ability to borrow from banks and other financial institutions. If you have bad credit, you would simply have a hard time borrowing or getting loans. Your credit worthiness is determined by your credit report and your credit score.

Credit score and credit report are two terms that have been used interchangeably and it is not surprising if you believe that they are the same. Your credit report is a record of how you handle your credit and your financial obligations. It shows your payment history, the credit balance that you have and other relevant information. Your credit score on the other hand is a numerical representation of your credit performance. It is computed using information that comes from your credit report. What you do with your credit will ultimately be reflected on your credit score. That’s how your credit worthiness is determined.

Banks, credit unions, lenders and other financial institutions use your credit report and your credit score in deciding whether to do business with you or not. There are even some companies now that rely on it which you would not usually associate with the practice.

Credit bureaus keep track of how well you handle your credit. Creditors report to them on the performance of consumers. If you miss a payment for example, then that would be reported to the credit bureaus. The same creditors would check with the bureau if you apply for a loan. They use the credit information and the credit score as a means of predicting your behaviour. If you didn’t pay your loans in the past then you are most likely to do the same thing in the future. It’s not a perfect system but creditors rely on it to secure their money and to reduce the risks that they are facing.

Importance of Keeping a Good Credit

Now you understand why keeping a good credit score is of prime importance today. Getting a loan is the only way for most people to be able to buy a house, a car and other important things in life. You need it to get credit cards. It is possible to get a loan with bad credit and in fact a lot of people succeed in it, but it is not easy. Thus it’s better for you to do everything to maintain your good credit standing.

Things That Will Kill Your Credit Score

In order to maintain a good credit score, you should know what could pull it down. To help you out, we have listed several of the things that can kill your credit score .

Missing Payments

This one should come as a no surprise for you. The biggest factor in calculating your credit score is your payment history. Under FICO scoring system, which is the one most commonly used, it makes up 35% of the final credit score. Missing a single payment can have a negative impact on your score.

There are several things to consider with regard to impact of late payments on your credit score. If you have been missing payments recently then that would have a more serious effect than having missed payments a few years ago. If you were only late a few days that would have a less serious effect than being late for a few weeks.

Closing Credit Card Accounts

You might be surprised with this one. If you have been reading some online guide for improving your credit score, you must have come across an article that says you should close unused credit card accounts.

When you close a credit card account, its history will be removed from your report after a number of years. So even if you have a good history with that account you will no longer benefit from that. Age is also one of the factors that creditors are looking for. Borrowers with long credit history are seen as having more credibility so it makes sense to hang on to those old credit cards even if you are not using them. Closing a credit card account will also lower your utilization measurement which makes up 30% of your credit score.

Settling with your Lender

When you have past due account and you are negotiating with your lender you will normally be offered a settlement. This is an arrangement, where you pay an amount that is significantly lower than what you owe, to take care of the past due account. If you owe $10,000 the lender might say that they are willing to accept $7,000 for what you owe. Who wouldn’t want to grab such a deal?

In reality, agreeing to settle a past due account with your lender is a bad idea. That’s because they would report the amount that you didn’t pay as a negative and in most scoring systems that would just be as bad as any late payment. So unless you can get some assurance from the lender that they will not report the remaining amount as a deficiency balance, then you should never agree to a settlement.

Having a High Balance on Your Credit Cards

When you have a high balance on your credit cards will also pull down your score. The ideal percentage of use is around 10%. That would be very hard to achieve for some people. It is a must for you to try and use your credit cards as sparingly as possible. Credit cards can be useful financial instruments if you know how to use them. But if you fall into the temptation of using it on shopping sprees then expect your score to go down.

Shopping for too Much Credit

Every time you apply for a loan or a credit card, the creditor checks on your credit score and each inquiry is noted down by the credit bureaus. That becomes a factor when your credit score is being computed. If it shows that you have been shopping for too much credit lately, then it could have a negative impact on your credit score. Based on statistics, consumers who are shopping for more credit tend to be higher risk borrowers.

Believing Credit Scores Are the Same

Credit and credit score are confusing topics and we are trying to simplify it as much as possible here. In reality, there is much to learn about it. One important fact to keep in mind is that there are many types of credit scores and believing that they are all the same can be bad for you in the long run.

Lenders have different standards when it comes to judging whether a consumer is creditworthy or not. If you rely on one type of credit score that could lead to problems since the lender that you want to borrow from might not be making use of it.

Companies use credit scores to predict things other than credit performance of a consumer. Insurance companies have models that can predict the possibility that you will file for a claim. In the same light, some companies also use credit scores to predict if you are going to file for bankruptcy. These different uses of credit scores can lead to confusion on your part which could lower your credit score even further.

Not Knowing that you Have Three Credit Reports

Your credit score is eventually determined by what is in your credit report. But you should be aware that you have three credit reports to think about. There are many credit reporting agencies, which are companies that compile your credit history. They are the ones that issue credit reports and there are three major credit reporting agencies out there. It is possible have different information in each of three credit reports, which could result in different credit scores. You should check with all three credit reporting agencies in order to be sure that everything is in order.


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Credit score myths uncovered

Credit plays a very important and crucial role in our lives. It allows you to buy and get things that you could not afford in any other way. Probably the best demonstration of how important credit to you is when you are buying a house. Chances are that you are like most consumers and you cannot pay for a house in cash. The only way that you can afford is by getting a loan. The good news is that there are lenders willing to give your credit so you can make the home purchase. That’s just one of the important roles played by credit today. The problem is that there are so many myths that people believe to be true in connection to credit. You have to know about these myths so you can get the most out of your credit.

Credit Explained

Before we can go any further, you have to get a deeper understanding of what credit is. Credit is simply just the trust placed by banks and other companies in an individual or a company. They give loans to the consumer with the understanding that it would be paid back. The trust is important because even if there are methods for recovering the amount that was given in the loan, the lender is still at risk of losing the money if the consumer is unable to pay back the amount.

Credit Scores and Credit Histories

Banks and other lenders would like to minimize the risk that they are facing as much as possible. That is why they use various methods in determining whether a consumer is creditworthy or not. The two of the most effective tools that they use are the credit history and the credit score.

The credit history is the record of how well a borrower handled his credit. All of his transactions are reported to credit reporting bureaus that keep information on consumers. When a creditor asks for some information regarding a particular borrower the credit bureau gives out a credit report which is a summary of a consumer’s credit history. That report is also used by lenders for coming up with the credit scores of a consumer. You can think of the credit score as a kind of grade. Instead of measuring your academic performance, your credit score is a measure of how well you handled your finances, particularly your credit.

Credit Score Myths Uncovered

Like with most things connected with finance, there are many myths that people believe in connection with credit score. Most of these myths have something to do with that could hurt and what could be beneficial to one’s credit score. So you can take the right path, here are some of the most common myths that people believe in connection with credit scores:

Myth#1- It Hurts Your Credit Score When You Check Your Credit Report

This is probably the most common myth that people believe in connection with credit scores. Because of this people are reluctant to actually check their own credit report. But nothing could be further from the truth. Checking your own credit report does not affect your credit score and is in fact a recommended step for everyone as a necessary step in ensuring your personal finance. You should check your credit report at least once every year.

While credit inquiries from you will not affect your credit score, inquiries from creditors will have a definite impact. If there are too many inquiries then it will definitely pull down your credit score. So you should have a plan when you try to apply for new credit.

Myth#2- Lenders Use the Same Credit Scoring System

Another common myth concerning credit score is that lenders all use the same credit scoring system. The truth is that lenders use different credit scoring models and you should be aware of that. The good news is that the three biggest credit reporting agencies have banded together to come up with a uniform credit scoring model. This model is called VantageScore. This model uses a letter grade which makes it easier for people to recognize the significance of the score. C would mean good and an A would be the highest score.

Myth#3- Paying in Cash Helps Your Score

Some people think that if they did not use their credit cards to buy something and they just paid in cash that it would be better for one’s score. But that isn’t true and it shows a total lack of understanding on how credit score works. Your credit history is a record of how well you handled your credit and paying in cash is not part of that. If you want to improve your credit score then you should use your credit cards but pay it on time all the time.

Myth#4- Paying Off and Closing Accounts Would Be Best

Others honestly believe that the fastest way to improve their credit score is to pay off whatever it is that they owe with the account and close it. Paying off an account will have a positive effect on your credit score, but closing it will not have a good effect. In fact, closing the account would have a negative effect. One of the factors used in computing for the credit score is the length of credit history. This means that old accounts can have positive effects on your credit score. Closing old accounts would deprive you of the positive effect that they might have.

Myth#5 – More Assets Mean Better Credit Score

Another myth that many people subscribe is the belief that the credit score is directly proportional to the amount of assets that one has. It is understandable why many people would believe this myth to be true. Wealth is connected with good financial standing so people simply believe that the more that they have, the better their score would be. But assets and wealth would have little direct impact on your credit score.

There is no information on the credit report about your wealth, assets and savings account. It can only have an indirect impact because the more money that you have, the sooner that you can pay your obligations.

Myth#6- Academic Background Has an Effect on Your Credit Score

Another common myth concerning credit score is that your educational attainment and educational background has an effect on you credit. This one is easy to understand why it gained popularity. People usually associate people who are highly educated with financial success. They believe that those with high educational attainment have automatically better credit scores when compared to those who are not as well educated.

The belief that educational attainment has a connection with the credit score of an individual is a false one. It ignores the nature of the credit score. This score is based on the credit report which in turn is based on how well a consumer handled his credit. Even a doctor or a lawyer who does not pay his bills on time can end up having a bad credit score.

Myth#7- Poor Credit Has No Effect on Job Hunting

There are those who dismiss their bad credit score. They say that they cannot do anything about it and so they try not to worry. They believe that the low credit score and their poor credit report would have no effect beyond not being able to get new credit. In reality, a poor credit report might prevent one from getting hired. For some employers having a good credit history is an important part of the requirement for hiring a new employee. This would depend on the industry, but it would help to know that if you are applying for new work. You should realize that your credit score goes a long way.

Myth#8- Credit Card Companies Set the Score

Some people believe that it is the credit card companies that decide on the score that they would give to a consumer. In some ways they are involved in the process. The information used in computing for your credit score, comes from your creditors as well, but they are not the ones that assign a numerical figure to you. It is the credit reporting bureaus that would come up with the score using models that have been standardized. There are many scoring models in use today and you should be aware about which model was used for the score that you are viewing.

Improving Your Credit Score

So what is it that you have to do in order to improve your credit score? Remember that your credit score is a numerical representation of how well you handled your credit. If you paid on time and if you did not use too much of your balance then you are sure to have a good credit score. If you already have a poor score, then it may take some time to get it in order, but there are definitely some steps that you can take. You can definitely set things in order if you are really determined in doing the right thing.


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Three Common Issues Regarding Credit Card Debt Consolidation

The principle behind debt consolidation loans is simple: you take out a bigger and better loan to pay for your smaller loans. The loans are usually advisable if there are credit cards involved, or, in other words, credit card debt. This is because credit cards usually have higher interest rates than all the other types of loans. Debt consolidation is defined as using a single loan to pay for the debts that you have on your other credit cards. It has its number of advantages.

You surely realize that every time your card is swiped, a transaction fee is charged. In other words, the more credit cards you have with smaller balance in them, the more transaction fees you will have to pay. Consolidation takes into account that a single credit card with a big balance in it is a money saver as compared to having more cards with equal balance when combined altogether. While all these things may serve as a relief, take into account that these types of debt consolidation do have their own disadvantages. Take a few moments of your time to read about some of the issues related to credit card debt consolidation.

One Card Issue

It has already been said that one card is better than two. However, having only one card does have its disadvantages. For one example, your one card may not be accommodated by certain machines. There are some online shoppers who have the problem of machines not registering their credit card. This said, having two or more cards may be good because they are more versatile.

Other Issues

When you borrow some money against your credit card your loan does not show up on your credit card report. There are people who usually complain about this factor in relation to credit card debt consolidation. If you compare it to something such as a car loan or a student loan, then it is less convenient due to the issues with your loan. This issue really does not matter most of the time if you are planning on paying the interest back.

Slow Improvement of the Credit Score

There are some issues circulating over the internet related to people’s negative feedback on credit card debt consolidation. So unless you are planning to retire soon or enter a business, then you may want to apply for this loan. Expect a really long time like several months or more for your credit score to improve.


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Pros and Cons of Debt Consolidation

Borrowers who are having hard time catching up with the payment of their existing accounts usually turn to debt consolidation loans for help. Several outstanding loans are paid in full simultaneously using this loan in order to avoid negative notes on a credit report. Old loans are lumped together and paid through a new single account by a debt consolidation firm. The term of the loan is usually longer and with a lower interest rate. Like other loans, debt consolidation loan has pros and cons. As a borrower, you should closely examine them to determine if it’s beneficial for you or not. Weigh its advantages over the disadvantages and see if the scales tilt in your favor.

Why Use a Debt Consolidation Loan

When credit companies start calling your attention to pay promptly or else they will put on hold your credit line privileges, that adds up to the burden on your shoulders. You begin to think how to negotiate a single clean loan and wipe out all your outstanding debts. This idea is what debt consolidation offers. It consolidates all your unpaid debts which include credit cards, utility bills or even your car amortization and in one lump sum pays all these credits. It’s a new loan that’s equal to the outstanding loans paid and this is granted by debt consolidation firms. They charge a minimal fee for their monthly services on top of the interest of the loan granted. The new loan normally carries a more affordable interest rate but it has a longer date to pay which results in a lower monthly payment schedule. The tight financial fix that you are in plus the attractive features of lower interest rate and extended loan term are the convincing reasons why so many people resort to debt consolidation loans.

Basically, if you have a consistent favorable credit standing and good proof of steady income, a debt consolidation loan requires no collateral. But this does not apply at all times. Debt consolidation firms have their own individual credit evaluation requirements where some are more particular on collateral. So if you plan to apply for a debt consolidation plan, try to reach out the firm that you want to deal with and inquire about requirements. After studying your situation vis-à-vis the pros and cons of this loan, follow what you think is best to solve your problem. You can always file the loan consolidation proposal online with the lender of your choice on the Internet or with the nearest debt consolidation company where you reside.

Advantages of Debt Consolidation Loan

The premier advantage of a debt consolidation loan is that you can pay off your maturing loans through a new single loan before they are reported as defaults to credit reporting companies. And this timely action can get you a better standing in terms of a credit score. This approach will eliminate your problem of paying several accounts every month. Now under this consolidated loan account, you are obliged to pay to only one creditor. The debt consolidator has taken off the burden from you.

A lower interest rate is also another advantage of a debt consolidation loan. It’s not hard to have a lower interest rate if you have a good credit report. The situation will be more favorable to you if you have a reliable regular income. If these two factors are in your favor, there’s also the opportunity that the lender will grant you the loan. Similarly, if you are experiencing financial troubles, then an expanded time frame to settle the new loan is advantageous to you at the moment. You will have the chance to spread thinly your cash to cover more installments in the coming months. The longer payment term the better for you until you can get back on track again.

The Disadvantages

There are instances that debt consolidation contributes to further deterioration of your credit performance. Although this sort of credit may sound enticing at first glance, it can actually drag the consumer down further to financial quagmire. If you have a bad credit, finding a debt consolidation company with a fair interest rate is not easy. In fact, it can be close to impossible to find lending institution that will give you a loan. In most likelihood, you’ll end up with a creditor that offers a high interest rate and with collateral requirement.

Some people stay away from debt consolidation loans because of the longer payment period. Although this may seem like an advantage to most individuals, it actually keeps you indebted for a longer period of time. In addition, the longer the payment period is, the bigger the total amount of your payments would be in the long run when you sum them up. To your surprise even the minimal monthly fee could run to a thousand dollar when totalled.

Find Alternatives

Instead of automatically applying for a debt consolidation loan, it would perhaps be wiser to first seek alternative ways in getting financial assistance through other sources. You can find other solutions by doing your homework. Surf the internet for ideas and tips on how to pay off your existing debts without resorting to loans. One of the best ways in paying your accounts at short notice is to ask for financial help from your friends and relatives. Even if you can’t have the exact amount from them, a small amount from several people could produce what you need. We all know that money from a friend or relative regardless of its amount is always better than having a loan with an interest from a credit company. If you can rely on friends and relatives, it would be unwise for you to still resort to negotiating a debt consolidation loan with all the hassles attached to it.

Some would view that the downsides of a debt consolidation loan clearly outweigh its advantages though others would say otherwise. As a borrower, you need to think twice before taking out any type of loan. You should try other options, especially if you are already struggling with your present payments. If you take another loan, it will only pile up as an additional burden once the bill starts coming in. If you are having difficulties with your payables, you can try other options like getting another job to settle them. Seek professional advice that could direct you to other sources of funds to pay off your maturing loans. A debt consolidation loan will not reduce your loans. Find other ways to meet your financial responsibilities head on. Perhaps cutting your expenses drastically or a strict budgeting could be the first step in the right direction.


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Four Common Disadvantages Of Debt Consolidation Programs

Debt consolidation plans are not for everybody. If you happen to have a really bad financial profile, not being able to pay back on time, then you may run into some problems in relation to their terms and agreements. The problems brought about on by these programs may contribute even more to the problems you have with your debt. You will need to be careful about meeting the terms and conditions of most consolidation programs. This article will help you with some of the most common disadvantages there come with choosing a debt consolidation program, poor credit scores and high interest rates, habit forming behaviors and more are taken into account. Give this article a few moments of your time to learn about the common disadvantages.

Your Inability To Pay Back

Be careful of debt consolidation programs that require collateral. The lenders will have all kinds of legal rights to take away the collateral you offered them in case you are unable to pay back your loan. There are some companies that offer debt consolidation and are after your collateral in the first place. You may think of debt consolidation as a gamble, pay as early as possible to avoid losing your house, or your land and more.

Poor Credit

Debt consolidation programs are usually a very bad idea for people with really bad credit. If you are one of those, then the interest rates may become even higher. People with poor credit are usually offered a longer term if their minimum salary cannot suffice to cover the debt. Because of the longer term, you end up paying more and losing more money in the longer run. You may want to wait a bit and improve your credit score before taking part in a debt consolidation program.

Habit Forming

Because of the fact that debt consolidation loans are very easy to come by, you may end up spending more. Spending more means accumulating more debt. Maybe the problem is not your debts or the stressors made by the number of bills you have in the first place. Maybe the problem is actually your spending behavior. Take great care when you participate in a debt consolidation program as it is not the answer to all your problems. For all we know it could only be making things a lot worse.

Do Not Remain Passive

Before thinking of forging a deal with a debt consolidation company, try solving your debt problems on your own. A debt is not the only answer to a debt. If you have some money that you have managed to put aside before, pay it up. You can also call your creditors if you are unable to pay all your bills, and ask for an extension.


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You Can Turn Mistakes Into Success

Nobody is perfect and we all concede to that. They are sometimes the causes of our failures and we abhor them. Mistakes are usually treated with negativity as they ruin something that we’ve worked hard for. When we make a mistake, we often disregard and discredit what we are doing due to shame and other reasons. However, have you ever heard of successful companies that were built and popularize from the simple mistakes of their owners? Sometimes we use to think too much on how perfect our business plans are and executions should be. As a result, we tend to forget that mistakes are stepping stones to our success. When we experience failures, what is our common reaction? Here are some tips on how you can simply turn your mistakes into success.

  • Learn to Adapt – when our plan goes wrong, the tendency is that we drop it and move on to planning on number 2. This is a common mistake that most entrepreneurs tend to repeat over and over again. It is also the reason why many people tread the same path repeatedly without being successful no matter how many times he or she’s been in the same situation. Mistakes should never be a hindrance to a successful career. In fact, they should help you grow and mature to become a better entrepreneur. A successful businessman is someone who knows how to adapt from a failure and use it to reach success. Remain positive at all times in order to beat mistakes.

 

  • Never Give Up – if you are making mistakes over and over again, it is never a solution for you to give up on what you are doing. Take the Wright brothers for example. No matter how many times they’ve failed with their invention of the first airplane, they never gave up on their ideas. In most cases, people who do not easily give up on something tend to think of better ideas to improve and be successful with what they are doing. The same thing is true when you are indulging in business. Push yourself as hard as you can and never give up no matter how many times you fall. Keep in mind that once you surrender, it is all over. Who knows you might be successful the next time around if you try. Those who quit never win.

 

  • Be Positive – mistakes doesn’t mean that your business or career is at its brink. Whenever you’ve done something wrong, do not look on it as a failure. Being positive in every situation allows you to think clearly outside the box. This is the main reason why there are many successful companies who have drawn their blueprints from their mistakes. Instead of struggling to get off failures, why not see your mistakes in a different perspective? It might help you instead of giving you a lot of burden to carry. You need to be a positive thinker in order to get to your feet whenever you fall.

The techniques discussed above are what you need to transform your mistakes into success. Use these tips so that you can step on your failures to reach your goals to succeed.


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You Can Have It Work Rightly

In business, you need to have the right set of people in your team in order to become successful, right? Wrong. There are many successful businessmen who have started and are still working with the same people. Working with people who do not seem to fit with the company can be quite challenging but not impossible to work with. Although teaming up with the right people can be a lot easier, you can never have everything going your way. In case you do not have the opportunity to choose the right persons for the job, the best thing that you can do is work hard in working with who you have in your company. There are several ways to turn negative situations into your favor. All is not lost if you don’t have the ideal set of workers under your wing. Do what is necessary under the circumstances and you’ll see great results.

Here’s how you can build a great team even without having the right people.

  • Know Your Similarities – the best way to start a relationship right is to know your similarities. Having something in common allows you to build a better working relationship with one another. Look for anything that you all like and focus on that instead of searching for something negative that you can throw at your employees. As an entrepreneur, it is your responsibility to start a good relationship with your workers. This is one way of building a great team despite the fact that they are not really the right persons for the job. Starting with your similarities could spark something new that can bring the right chemistry needed to become more productive.

 

  • Set Team Goals – individual growth is quite difficult to achieve. Working as a team though can easily gain company growth with less hassle. Thus being said, it would be best for you as an entrepreneur and for your company to work and set goals as a team. Discuss your objectives as a team especially if your aim is to build a good one. Two are better than one as the saying goes. Imbibe in your employees’ though to work as a team always. This will generate motivation and a sense of belongingness would be binding them together.

 

  • Help Your Teammates – in case one of them is lagging on a certain job, make sure that you offer a helping hand. Always remember that the success and failure of any of the team member will reflect on the whole company. Thus it is very important that you help each other especially those who really need some assistance. Avoid individual comparison of achievements. It is counter-productive to team building.

 

  • Discuss and Resolve Every Issue – don’t let the day end without discussing and addressing issues around the company, especially with your team. This is a healthy way of preventing problems from destroying the relationship of the team. In return, you can expect better performances and results from your employees. The concern of every team member is strengthened when you share them the issues of the day.

While you can’t have it all at the same time, you can do something the make things better for the day. Try to follow the above and you’ll experience the unexpected in your operations.


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You Can Always Enjoy Your Workday

There are various justifications why some workers find it monotonous in reporting for work. A lot of employees do not enjoy going to work due to several grounds. Among these reasons is the inability to love and enjoy what they do for a living. Unlike with ruining our workday, making it enjoyable and work out fine is quite a challenge. So, how does an employee or a boss makes his or her workday enjoyable? A lot of research on what commonly makes our day bright and fun has been conducted. Here is a list of what helps in making our workday good and loveable. Let’s discuss them one by one.

  • Positive Attitude – start the day right by putting up a positive attitude. You’ll be surprised on how good and enjoyable your day at work can be once you start with something positive. While having a positive attitude is great, you should also avoid co-workers or leaders with negative auras. It is essential that you stay with people who share the same attitude with you while you stay away from those who will ruin your workday. Remember that negative and positive are always poles alike. Don’t try to mix them so you can have a joyful day at work.

 

  • Smile – another way to help you enjoy your day at work is by putting up a smile on your face. Not only does smiling help in uplifting your spirit during work hours, it also allows you to maintain a positive aura. Keep putting up that smile as smiling can be infectious around your work place. If you sport a smiling face, you are conveying that everything is fine and this encourages others who are not of the same level of mind like yours.  

 

  • Learn to Relax – although it is important for you to be serious with your work, it should also be essential for you to learn how to relax and unwind. Relaxing is a good solution during a stressful situation especially at work. Stress is better cured with relaxation as it helps you avoid getting too serious with your work. Bear in mind that stress is not good for your health. It can slow you down by sickness or kill you. So why not learn to relax once in a while to recharge?

 

  • Learn to Be Thankful – keep in mind that a lot of people are having a hard time finding decent jobs. Being grateful with your job helps you to appreciate, love, and enjoy what you are doing. Learn to be thankful with what you are doing on a daily basis as it allows you to earn for your family.

 

  • Give Your Best – successful leaders and employees are those who strive hard on whatever they do with their hands. As a worker, giving your best during work allows you to enjoy your workday as you’ll be receiving incentives and praises from your boss. On the other hand, leaders who pour it all get to enjoy their work or business as their company becomes successful. Your best if often rewarded.

When you enjoy your day working, the result would be a productive day. It redounds to the good of the company and to you either as a worker or owner as well.


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