Info NEX Finance

Finance is not merely about making money. It's about achieving our deep goals

Month: March 2019

About Start Building Credit Fast

As you probably already know, paying minimums on credit cards and bank loans do not lower your principle amount very quickly. When your balance is too close to your credit limit on a card, it actually hurts your score, even though you may be paying your bills every month without fail.

Paying the minimum can actually hurt you in some cases, especially on cards with high balances. Banks like to see plenty of breathing room on your credit cards. You are more creditworthy to them if you have plenty of availability on your cards.

Another reason you may be denied credit is your debt-to- income ratio. If your total debt is too close to your total income, Banks will not extend you credit. I struggled with these issues for years until i figured out what i was doing wrong. Every time i would lower my balances, I would run right out and build them back up.

By paying down your balances and making smaller purchases on your cards, you can raise your score significantly in just a few months. Only buy on credit what you can pay off at bill time. Buy something and pay it off… Buy something and …

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Manage Your Debt

During a financial hardship, debt management companies help educate you on how to manage and or reduce your debt and offer you the help you need to get it done. Once you are aware of all of your options, you can make an educated decision about which debt relief program best suits your needs.

Often, debtors try debt consolidation programs or turn to bankruptcy only to find out that these solutions often cause more trouble than they are worth.

A good debt management program can help you eliminate your unsecured debts by up to 60% in just 12-36 months. Debt management companies negotiate with your creditors for you, so you don’t have to. An additional benefit of a debt management program is the fact that they assistance with creditor harassment.

Don’t let your debts control you. Through a proper debt management program, you can combine your monthly payments into one lower monthly payment and still pay off large debts in just 3-6 years. Debt Reduction gives you the power to eliminate your debts with the help of professional debt specialists on your side.

Many people have found themselves burdened with unmanageable monthly payments on a variety of different loans. This …

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Choose a Lender

  • Consider all the options. It is a good idea to make a spreadsheet or even just note things down on a piece of paper what the pros and cons are for each lending organization.
  • Get Help. If you are at odds as what company to eventually use for your funding, then it may be an idea to ask your school councilors as they will have the latest information.
  • Ask Someone. Before you commit to signing up for a loan, find out what other student from your organization has also used this company. Ask their opinion about the service and helpfulness of the loan company.
  • Double Check. It is also a good idea, after you have been armed with a boatload of information from your educational institution, to then, do your own research. Do a further search on the internet to find out if the information you have received is accurate.
  • Benefits. Look at all the different benefits that the lenders are offering and work out the ones that will benefit you the most.
  • Rates. Check to see what rates that each company is offering, although they should all be fairly close to each other, there still may be room for

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Credit Report

The FICO credit score is used by all three major credit bureaus – Experian, Trans Union and Equifax. They are the companies that keep track of the credit and lending transactions of millions of Americans. The score is used to provide, in a nutshell, a figure that represents the credit-worthiness of a consumer. That score, which ranges from a low of 300 to a high of 850, is used in many ways by businesses and employers. The score is used by insurance companies to set rates, landlords to establish security deposits, and even prospective employers to determine whether hiring someone is a good risk. Despite the importance of credit scores in their lives, few Americans understand how it works.

The score is determined by a variety of factors, each of which makes up a portion of the score:

  • Approximately one third of the score represents the individual’s payment history. Previous loans, and the ability to pay them are shown in this portion of the score. Both late payments and failure to pay at all affect this portion of the score. Those who have paid all of his or her loans on time will obtain the highest scores.
  • Another third of

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Courtesy Wedding Loans

The dwindling finances after marriages can happen to any person, whatsoever be his financial status. However, certain important steps taken before marriage can save you from being one of them. The planning to finance the weddings must start from the very beginning. This however, does not mean thinking more of the finance than your spouse. Wedding finance will need decision on some important points. Difference of approach between the couple must be welcome so as to be aware of all aspects of the case.

The very first decision will be regarding the budget of the wedding. The ultimate burden of the heavy expenditure on wedding will have to be borne by the couple. They can either hold a modest wedding and have enough savings for the life time, or conduct an elegant wedding with no savings to fall back on in cases of emergencies. Listing down the expenses as necessary, unnecessary but desired, and completely unnecessary will be helpful. The classification of the items to the various sub-categories must however be a unanimous decision, to avoid any ill-will.

Once the decision on the budget is made, the borrowers will be thrown into a dilemma as to use the personal resources …

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