How To Clean Up a Low CIBIL Score

CIBIL or Credit Information Bureau (India) Limited is India’s foremost credit bureau. Financial institutions send monthly records of everyone’s credit repayments to CIBIL. Based on these records, CIBIL prepares a Credit Information Report (CIR). It also assigns a credit score to every individual.

This credit score (or CIBIL score) is vital. It shows the individual’s creditworthiness. Creditworthiness is an individual’s ability and willingness to repay outstanding debt. 

A good credit score is a key to getting further credit from financial institutions. This could be in the form of loans or credit cards, for example. A good CIBIL score ranges from 750 to 900.

What if you have a low CIBIL score?

A low CIBIL score is one that ranges from 350 to 550. Such a score can have negative financial consequences for you. Here is a quick sampling of what you can expect:

• Rejection of loan and credit card applications: A low CIBIL score shows poor repayment ability. It may also show that you have heavy outstanding debt. So, financial institutions may reject your credit applications. 
• Higher interest rates on loans and credit cards: Financial institutions may accept your loan or credit card applications. But there may be a caveat—they will charge you higher interest rates. Lenders do this to protect themselves. A borrower with a low CIBIL score poses an inherent financial risk to them.
• Rejection of employment applications: Some employers run a background check on the financial history of potential employees. A low CIBIL score will ring a warning bell to those companies. You could lose a plum position as a result.

Improving a low CIBIL score

A low CIBIL score does not have to be a permanent problem. There are ways to clean up your score. Here are some tips to help:

• Check your credit report: Go through your credit report to ensure there are no mistakes. Check your credit report every six months. If there are any faulty entries, approach your lender or CIBIL to correct them.
• Pay your bills on time: This one seems simple but everyone misses a bill payment from time to time. Set up reminders to help you with this.
• The debt correction method: Do you have multiple debts to pay? Maybe you have more than one loan and some credit card debt. Here is a way to simplify your debt repayment process:

1. List out all your outstanding debt. Arrange the debts in order of most expensive to least expensive. 
2. Pay off the highest debt first. Cut corners if you must. Just focus on getting rid of your most costly debt.
3. Pay off the next highest debt. Do this once you have repaid the highest debt on your list. Then move on to the next highest debt. Continue doing this until you clear all your outstanding debt.

• Avoid applying for loans: Do not take any loans until you clear most of your current debt. A lender might reject your loan application if your loan burden is high. Such a rejection will have a further negative impact on your CIBIL score.
• Avoid taking new credit cards: Do not accept a new credit card until you clear your debts. Multiple credit cards can be an indicator of a high debt burden. 
• Pay the minimum amount due on your credit cards: Even while you tackle the rest of your debt, continue to make your credit card payments. Do not neglect this. If possible, pay off more than the minimum amount. 
• Reduce your dependency on credit cards: This is one way to maintain your financial independence and reduce debt. Try to stop using your credit cards for a few months. Remember, credit cards charge very high interest. This will only add to your financial burden. 
• Do not cancel old credit cards: Cancelling old credit cards might seem like a way to improve your CIBIL score. But this is not the case. Rather than cancel old credit cards, aim to use them infrequently.

Conclusion

Cleaning up a low CIBIL score will not happen overnight. It takes time, patience, and financial planning. This is why experts recommend that you improve your CIBIL before applying for a personal loan. 

There are so many easy ways available to Improve your CIBIL Score and Once you improve your CIBIL score, work on maintaining it. You can do this by following the best financial practices.

Are You Self-Employed and Eligible for R&D Credits?

Self-employed? Work from home? Do research and development work? you might think that only certain individuals or type of research qualifies. But, you’ll be surprised to learn that if you are self-employed and work from home, you may qualify for R&D credits. 

And, you will find that there are many freelancers and small business owners, who qualify and don’t even know they qualify for the funding to help them push their product/service, and research along.

Qualifying Research 

Regardless of the size of your business, even if you are an individual doing freelance work, as long as you are doing “qualifying” research, you may qualify for R&D tax credits as a UK business owner. 



Some research which constitutes as “qualifying” includes: science advancements, trying to overcome uncertainties, or work which couldn’t be done easily in the field, are types of work which may allow you to receive funding.

Must Advance It

The project you are working on must show you are trying to make an advance in the field. You should be researching something which has uncertainty in the field. 

You should be doing work which is advancing a scientific or technological aspect in the field. And, you must prove that the work you are doing is trying to fix/deal with the uncertainty in that field.

Overcoming It 

In order to qualify for funding, you must show/prove how you tried to overcome the uncertainty. The type of research you did, the work you did, how you modified your project in order to create an advancement in the field. 

The more you can show, and the more methods you can show you attempted, the greater the possibility that you will receive funding, and the more you are likely to receive when you apply for funding.

It is also important to show another professional in the field couldn’t work out the solution you were able to work out. Basically, you have to prove your advancement is one nobody else came up with, and one which is truly going to advance and help others moving forward.

Even if you are a small business owner, or mid-sized business owner, you might qualify for R&D tax credits, which are tax-deductible. If you would like to look in to whether you are eligible for R&D credits then randdclaims.co.uk could help you. 

Whether you are looking for an advance, are working to recreate something, or are making leaps and bounds in technological/scientific research, it is highly likely you’ll qualify. These are a few of the basics to know when applying for R&D tax credits.

How to Save Money on Heating Costs during the Cold Winter Months

 It just seems that the weather becomes worse with every winter we experience. The extreme cold temperatures, wild snowstorms, and damaging winds can really affect the size of our heating bills. If you’re looking for ways to save money on heating costs, you’ve come to the right place.

Dress Warm While Inside

You may be tempted to increase the heat in your home by turning up your thermostat. This will heat up your home to a pleasant tropical climate, but it will also drain essential money from your checking account once the bill arrives. 

Instead of turning up your thermostat, opt to dress in warmer clothes while you’re milling around in your home. Purchase some cute fuzzy socks, a comfortable hoodie, and thick pajama pants or sweat pants. This is an affordable way to keep yourself warm and your heating bill down.

Winterize Your Home

Sometimes, your home becomes cold despite your furnace’s best efforts because cold drafts are finding their way into your homes to turn it into an ice box. This can be fixed with a quick trip to a local home improvement store to purchase a window insulator kit. 

These insulator kits usually come with a roll of plastic, double-sided tape, and instructions. This kit is designed to prevent cold air from getting into your home through openings around your windows and doors once properly installed.

Free Solar Heating

The sun is one of the most powerful forces in our universe. It provides life-giving warmth, light, and comfort. During the darkest time of the year when sunlight is scarce, don’t hesitate to take advantage of the heat it provides. 

If you have windows that face east while the sun is rising, open the curtains to let in the warm rays. They will warm your home for free. Once the sun begins to set, close your curtains to trap the heat and enjoy a warmer home at no cost to you.

Proper Furnace Maintenance

Keeping your furnace working at optimal levels is essential to ensuring a low heating bill. Furnaces are like any other piece of machinery. They need regular maintenance to ensure they function at peak performance. 

Be sure to schedule an appointment with a professional HVAC contractor to inspect your furnace and perform any repairs that might be required. You should also consider replacing your furnace filters. 

A dirty filter can cause your furnace to work harder to send heat through your home. Aim at replacing the filter once a month to keep your furnace costs down.

As an added tip to save money on your heating bill, try turning down the thermostat during the day. Once night falls and the temperature drops, turn your thermostat back up to a comfortable temperature. You can survive the day with a bit of a chilly house in order to have a warm house during the cold night.

Reduce your Home Makeover Bill by 30% Using the Newly Launched Zoutons Coupon App

The Delhi based coupon aggregation website, Zoutons, is all set to launch its Android app for the convenience of its users. This introduction of the mobile app is going to storm the market as it is aiming to make the online shopping a much more affordable yet efficient task. Keeping the concept intact, the website focuses on representing several coupons and offers compiled together on a single platform.

Aim and Vision

Launched in 2013, this coupon website was started by Mr. Sahil Chalana. Currently it is dealing with around 175 leading online stores where it has segregated coupons and offers from top 75 (approx.) categories. 

The users can easily find sale-oriented offers, bank offers, wallet offers and a lot more to choose from differentiated sections like clothing, accessories, mobiles, electronics etc.

The website has managed to compile around 500 online pan-India brands and approximately 45 banks under one roof. The launch of mobile application is going to help the users access distinct offers, be it on clothing or home décor items or anything else; from best online stores. 




Two things make Zoutons stand tall in the online market- customer satisfaction and betterment of shopping. Across the internet, coupon websites like Zoutons have laid down the embodiment of saviours as the mutual focus is implied on offering best discounts & cashbacks on each and every category or section. 

According to the sources, 100k+ app installations are kept as a target to enhance the website traffic. Herein, one can explore schemes, deals and coupons on most preferred online stores like Amazon, Bookmyshow, Paytm, Flipkart, Shopclues, Pharmeasy, Makemytrip and a lot more in order to save to a greater extent on services like recharges, ticket booking etc.

How Zoutons helps you reduce your home décor items bill by 30%?

There are more than 50 offers under each store and category, bifurcated for both new and existing users. This facilitates the access to explore the clothing category for coupons rendering more than 70% discounts or make orders of your home decor with upto 30% cashbacks instantly. 

Extracted deals, coupons & offers from leading stores like Amazon, Flipkart, Myntra, etc. providing 30% discounts or maximum cashbacks of Rs.350/- are collectively listed subject to be availed with just a few clicks.

Forget about rushing towards the laptop or opening your browser every time you want to explore the ongoing offers and coupons because this app is going to flush down your unnecessary actions. 

Zoutons android app is a user friendly mobile app which can be downloaded from the Google Playstore and Apple Appstore for free. It is embedded with a completely minimalized UI with personalised listing of offers from all the popular stores.

Apart from this, there are special services that ponders more and more installations. Foremost feature of the application is that it takes up very less space in the device. The size of the application in only 2.7MB, minimising any kind of storage hinderances. 

One can personalise the display of coupons & offers as it gets organized according to the user preferences. Moreover, the news feed on the home page gets updated with the change in the search history, making the scrolling and selecting easy. 

Also, the in-built Night Mode of the app ensures that the user is able to access each and every section without any kind of stress on the eyes. 

Zoutons Android App

With the app, users can stay updated about all the latest deals, sales and offers across the leading online stores. The app notifications require to be enabled which regulates timely updates. 

This, consequently, ensures that no offer, sale goes unnoticed. Besides this, Zoutons newsletter is another plus point in keeping the users aware about ongoing and upcoming sales and deals. Every user can subscribe to the newsletter and become a member for instant mails & pings auto-generated for all users.

The Zoutons app is a free android application which can be downloaded from the playstore and takes just 2.7MB space in Internal storage of the device. With the recent rise in digital services and online marketing, this can be a highly benefiting step for the team in making a stronger mark on e-commerce platform. 

As per their tagline, “The Loot is On”, the app makes sure that each and every user gets benefitted with the literal LOOT with remarkable offers.

Bankruptcy Options: 4 Ways to Get Back on Your Financial Feet

Declaring bankruptcy is always a last resort when you find yourself in a financial hole. No one likes having to start over. Here are some tips to help get you back on your feet.

Know Your Options

You need to know what options are available to you. Set up a meeting with a bankruptcy lawyer so that you can re-establish your financial future. They can walk you through what your next steps need to be to recover. 

If you are just starting the bankruptcy process, they can help you through it. This way you will be able to make informed decisions. They might be able to help you settle any debt that you have in order to avoid any pitfalls.

Address the Cause

Bankruptcy was not something that happened overnight. It involved a series of poor decisions that lead you down this road. Before you can start the process of recovery, you need to first understand how it occurred. 

Frequent overspending and not watching your bottom line is the likely culprit. You need to create a budget that you can live within. Living paycheck to paycheck leaves you vulnerable. You should have an emergency fund for any unexpected expenses.

Establish New Credit Lines

After a set amount of time has passed, you will be able to apply for a secured line of credit. This means that you have the money to pay off the line of credit set aside in a savings account. 

If you fail to pay it off, the bank can take the funds that you used to secure the card. Once you have established this line of credit and reliably paid it off, you can apply for an unsecured credit card. Since you are still considered high risk, the interest rate will be higher than a normal card.

Set Budget Goals

It will take seven to ten years for the bankruptcy to fall off of your record. During this time, any financial troubles will set you back further. You need to stick to your budget and create a buffer. 

Opening a savings account and putting money aside each month will alleviate any unexpected costs. Make sure to check your credit report often. Having financial goals will allow you to better prepare for the future. You don’t want to find yourself back in bankruptcy because you overextended yourself again.

Millions of Americans declare bankruptcy each year. Having a budget and a safety net are the best ways to avoid financial hardships. Use these tips to recover from your bankruptcy.

In an Accident? 5 Tricks to Paying down Those Medical Bills

An accident is a stressful experience, and expensive medical bills only add to your stress. Unfortunately, medical bills are the leading cause of bankruptcy in the United States, making it crucial that you don’t let yours get out of hand. If you’re trying to pay down your medical bills, here are five things that may help.

File an Insurance Claim

Depending on the cause of the accident, there could be a party responsible, in which case their insurance should pay for your medical bills. 

Accidents on the job are covered by worker’s comp insurance, car accidents are covered by auto insurance and so on. See if this applies in your case and, if so, make sure you get the compensation you deserve.

Set up a Payment Plan

Although healthcare providers may send you a bill for a large amount due in a matter of weeks, they’re often flexible on this. 



It’s much better for them if you pay, whether you do that immediately or over the course of several payments. Contact the organization and ask if you can set up a payment plan with them.

Get a Low-Interest Credit Card

With a low-interest credit card, you could pay off all your medical bills, and then pay off your credit card bill at a fairly low annual percentage rate (APR). 

If you have a good credit score, you may even qualify for a 0-percent APR credit card, which allows you to pay no interest if you pay the full balance within the card’s introductory period.

Hire a Personal Injury Attorney

When someone else is responsible for your medical bills, the hope is that you’ll be able to file an insurance claim and get your compensation in short order, but that doesn’t always happen. 

If not, it can help quite a bit to hire a personal injury attorney like Goldberg Michael Attorney At Law or someone similar, as they can expedite the process and put pressure on either the other party or that party’s insurance company.

Get a Loan

A loan is another option that will allow you to pay off your medical bills, and then pay off what you borrowed over a longer time period. Loans tend to have lower interest rates than credit cards, except the aforementioned 0-percent APR cards.

Paying back medical bills is no fun, but with the right approach, you can keep them from getting out of control. Consider the five tricks above and see which one is best for your situation.