How A Negative Credit Report Can Affect Your Financial Future

A negative credit report has long-term consequences. It can affect nearly every part of life from employment to insurance rates. Poor credit can prevent a person from accessing many of the financial tools that make saving or planning for the future possible. A negative credit report can affect the financial future of anyone in several ways.

Housing Is Difficult To Get

Anyone who has a poor credit report will have a difficult time acquiring housing. Property managers are not likely to rent an apartment to someone who has a history of unpaid debts. Banks might also deny mortgages to these same people. While some people may think that buying a house is too far in the future to matter much, it is important to remember that bad choices with finances now can stick with you for a long time on credit reports. One of the only solutions is to find a guarantor who can cosign a lease or mortgage. A cosigner can allow an individual to start building a positive lending or rental history.

Credit Becomes Inaccessible

A negative credit report will make getting any type of credit in the future very difficult. This includes loans, credit cards and financing for a car. Without loans and credit, it becomes nearly impossible to eventually get the items you may need for your family, like a house or car. Talking to a professional to help get back on track financially will improve credit. Some professionals can even work to remove bad marks from credit reports. Rebuilding credit could also involve using secured credit cards backed by cash deposits.

Limited Employment Options

An increasing number of employers are checking the credit report of applicants during the hiring process. A bad credit report could prevent an individual from getting a job working near sensitive financial information regardless of other qualifications. Counteracting this negative effect will require establishing good credit with the help of financial professionals while working in positions that do not require accessing financial information. 

Higher Insurance and Interest Rates

A negative credit report will lead to higher insurance rates, which include car and home insurance. One way to counteract the higher rates is to decrease risk in other areas. This could mean taking defensive driving courses, installing a home security system or installing new vehicle tracking systems. These steps will lower insurance rates. Interest rates will also increase with a bad credit score. This can be very detrimental to many families because interest builds so quickly and can become almost impossible to pay off over time. 

Utilities and Service Plans Become More Expensive

Getting any type of service plan for a cell phone or a utility will be more expensive with a negative credit report. Some companies might just refuse to provide services billed monthly or quarterly altogether. A cosigner could solve this problem. Another solution is to ask about or offer an initial cash deposit to cover multiple months of service in advance.

A credit report needs to be checked regularly and repaired or improved whenever possible. This can sometimes take a long time. Anyone with credit problems should take action immediately to start building good credit and repairing the report.

Informational credit to A C Waring & Associates Inc. 

UK Property Market Predictions for 2014

The UK housing market has witnessed a substantial rise in transactions and prices during the latter half of 2013, due in no small part to renewed confidence in the economy and government interventions in the mortgage market. For all intents and purposes, this trend is expected to continue through 2014 and possible beyond that as well.

A Market Turnaround

This rising performance represents a complete turnaround from the trends of the last few years, in which the property market in most regions outside London and the South-East threatened to go into extinction. Average house prices in the UK fell by 26% in real terms between the latter part of 2007 and the close of 2012. And despite strong nominal price growth throughout 2013, prices remain at nearly a fifth below their pre-cash peak in real terms. The rise in house prices across the United Kingdom has now led many to fear the potential for a housing bubble. However, given that average monthly transaction levels remain at more than a third below the long-term average for England and Wales, these predictions are most likely unwarranted.

The Price Outlook for 2014

The general outlook for 2014 is that the market will most likely experience positive price growth across many regions in the UK. The overall effect of this should be very positive for the economy. Market growth should stimulate the introduction of new money into the general market, as prospective homeowners can confidently invest in both new homes through companies like Harry Rose Homes and their associated costs. Naturally though, there will be some minor variations. Average house price values will continue to rise throughout the next 5 years, though the pace will most likely decrease as the end date for the Help to Buy schemes draws closer in 2015. Though strong domestic and international demand should continue to support price growth throughout England's capital, the dynamics of the London market on the whole have begun to shift. In fact, we may now see growth accelerating at a much faster pace in the boroughs surrounding central London, with prime central London following suit. This of course would represent a reverse of the trends of the past several years.

The Wider UK Market Outlook

The general UK market will remain highly localised, with regions nearer London performing well due to their obvious financial links to the capital. However this by no means dictates that house prices to the North of the UK won't experience growth in the coming years. On the contrary it is likely that prices in the East Midlands may see a rise in value of up to 7.4%, with properties in the North East and North West seeing a predicted price rise of 6.7% and 7.1% respectively. In general, the economy should have strengthened considerably come 2016, with a predicted increase in both employment and real incomes. This should be all means support the transition to a predominantly stimulus-free market, though there may very well be a sustained period of more modest nominal price rises following 2016.

Prime Market Analysis

Prime central London property will start to lose ground in comparison to the mainstream market over the coming years. The prime market has outperformed since 2009, with prices rising by more than 60% in some cases since March of that year. And whilst it is predicted that this price growth will continue through 2014, it is also quite likely to stall come 2015, as a result of uncertainty within the market in the lead up to the UK general election. After the election, price growth throughout prime central London will most likely continue to run ahead of inflation, causing nominal as well as real price growth.

Rental Market Analysis

Rental prices have risen steadily since 2010, though at a considerably slower pace since 2012. And there is definitely room for rental inflation alongside an anticipated rise in overall earnings throughout the next few years. There has been some suggestion that the support offered through Help to Buy may in fact have a decidedly negative effect on the rental market. But whilst taxpayer subsidies for mortgages may effect rental growth in some areas over the coming years, a continued high demand for rental property, particularly around the UK's urban centres, will lead to continued growth overall within the sector. Increased interest rates will definitely put additional upward pressure on rents starting in 2015 and 2016, as affordability levels for homeowners begin to experience a notable decline. In turn, it is fairly likely that rental growth will in fact begin to overtake price growth from the start of 2016.

Use Your Property To Fund Your Old Age

photo: cbc.ca

This is a guest post written by Sarah Stark an authority in the home sector.

Old age brings with it a whole bundle of worries, some inevitable but some alleviative. Health conditions, for example, may deteriorate in many a case which, again in many a case, can be treated to an acceptable level. Not so is the most dreaded of it all: Paucity of money and the adverse consequence of the wretched condition on one’s well-being and on high-spirits. Unless you had planned and saved your retirement funds, the only way out you can hope is to get your hands on your property.

The scheme as outlined in the following few paragraphs can help you get sustenance and also leave enough money for unexpected expenditures. Central to the idea is the property you may own. You can get cash in hand, an amount equal to the value of your property. The condition that you should agree to involves a payment of the money equivalent to your property after your death.

Your property can be called frozen money that you can thaw at any time you chose. The fluid cash thus got can be utilized to meet your day-to-day expenditure as well as purchases of essential materials or services. All this without your having to worry about repayment when you are still alive. That, anyone will agree, is the best part of the whole scheme. Equity release, as the plan is called, spares you the hassles you might otherwise face. You can leave shortage of funds far behind to enjoy your life peacefully in your old age. The custom-designed equity release is the way to go forward.

There are various plans within the concept the best of which can be chosen by you. 

Home Reversion

Firstly, this is not a loan. You can sell a part of your house for a lump sum amount. Upon your death or if you take residence in a home, you or your estate will be paid a share of the sales proceeds after the sum for fees for services like a solicitor’s charges are deducted. For instance, if you had sold 50% of your property, 50% of the sale amount plus the growth value will go to the reversion company. 

Home Income Plan

A percentage of your property value is converted into cash and awarded to you. You can use this money to buy an Annuity from which you can get a monthly sum. The interest can be paid from part of this money. The rest of the sum will constitute your monthly income. As and when the property is sold (usually on your death) or when you move into a home, the original loan will be paid back in full

Lifetime Mortgage

This plan envisages a loan paid to someone with a property. The loan does not have to be repaid by the borrower at any time during his existence. It will be repaid only after his death or after he has entered into long time care. The advantage is he does not have to move from his house at all on getting the loan

Written By:
Sarah Stark is an authority in the home affiliate sector which can yield a high cash offer for your property. Her forte is writing but she can also design info-graphics. She also has a fair amount of knowledge on media buying for campaigns.

Peer to Peer Lending – Instant Access to Funds to Satisfy Urgent Needs!

Peer to peer lending is the loan transactions between person to person. Known otherwise as P2P loans, the option is quite popular and much preferred. There are online companies that offer financial aid to those in need of money for some purpose or the other. The loans for bad credit lenders who get registered with the websites that offer online portals get access to the borrowers who search for financial support through these portals. Since the interest rates are high, many of the investors prefer peer to peer lending as they get higher returns for their investment. 

How does the loan function?

The websites that provide online portals to give access to lenders and borrowers keep updating the list of lenders and borrowers. The contact can be initiated either by the lender or the borrower. The borrower can get the loan from a particular lender after verifying the genuineness of the lender and the lenders can sanction approval for the loan after confirming the reliability and responsibility of the borrower. The loans are approved if the lenders are convinced of the borrowers’ ability to make repayments as agreed. The borrowers who are in need of urgent funds can get financial support through peer to peer lending.

Those who need emergency funds can access peer to peer lending instead of credit card loans for which the interest rates are overwhelming. Peer to peer loans can be opted for various purposes. If you are struggling with uncontrollable credit card dues, you can consider peer to peer loans to ease out the financial crisis. To repair the vehicles and to clear the medical bills, peer to peer loans can be accessed as the support is instant. If you are in need of funds to start a new business or to run the already started venture, you can think of applying for peer to peer lending in which you have the provision to choose the interest rates as per your ability and requirements at http://www.prlog.org/12242820-unsecured-no-credit-check-loans-up-to-3500-from-newly-launched-lending-network.html .

The offer is convenient for those whose loan applications are not approved by conventional banks due to poor credit record. Those with good credit access this offer to avoid unnecessary delay due to the long process involved in traditional loans. The online companies that promote peer to peer lending act as the market for the lenders and the borrowers. The borrowers can mention their requirements and wait for responses from the lenders instead of trying for loans from banks or other financial institutions. The lenders review the applications of the borrowers and approve loans based on the credit record of the borrowers.


The loan amount is determined by the lender. The loan amount can be very minimum and the financial support from various lenders who have registered with the portal will help to get the needed monetary support to serve the purpose for the borrowers. The repayments made by the borrower are distributed proportionally to the lenders who offered funds for this particular borrower. Both the borrowers and the lenders are benefited by the offer of peer to peer lending. The borrowers get instant access to funds and the lenders get higher interest rates for their money. However, the borrowers should be specific about returning the loan amount as agreed.

How Do the PLUS Loans Help in Higher Education!

The financial support through federal loans makes the higher education possible for students who find it difficult to meet the education expenses. There are different types of loans exclusively for supporting the education and these loans help the students to pursue their education without undue stress. The features of each of the student loans differ although the purpose of the loan is similar. PLUS loans are offered to the graduates who are in for professional courses. The loans can also be obtained by the parents of the undergraduates to meet the education costs.

How are the loans processed?

PLUS loans are granted by the government through the education institutions which participate in this particular program. The lender of this loan is the U.S. Department of Education which requires the borrowers to possess good credit record. The borrowers of these loans for bad credit should be enrolled at least half time in the school which takes part in this loan program. The students who need to obtain the loans should submit the Free Application for Federal Student Aid, shortly known as FAFSA. The financial aid department of the school in which the students pursue their education will help the students with detailed instructions related to the loan.

Credit history is the considered while approving the application for PLUS loans. If the applicant has poor credit history, the loan could be obtained with the support of an endorser with good credit history. While the loan application is approved, you need to sign a Master Promissory Note. The interest rates are fixed and there is origination fee for the loan which is deducted from the loan. The loan servicer will keep you updated with the loan status. The loan amount is mostly limited to the financial requirements required to meet the deficiency of funds after getting the grants and awards to support the education.

The loan repayment starts after the full loan amount is disbursed. You can opt for postponing the repayments if your financial condition is not favorable for repayments. However, the interest for the loan keeps accumulating even as the repayments are deferred. The interest accumulated can be cleared gradually or you can prefer to capitalize the interest on the cash loans no credit check. The loan servicer will notify you of your first due towards payment. You can get to know about the available options of repayment and choose the option that is convenient for your financial situation.

If the borrowers of PLUS loans are parents, the loan commitment cannot be transferred to the students for whose sake the loans were obtained. The most impressive feature of the loan is that there is the forgiveness option which enables the borrowers to cancel a part of the loan or the entire loan within a specified period. The loan servicer can be approached to change the repayment plan which can be better for your situation. Though there are various loan offers for students from conventional banks and financial institutions and from private lenders, the federal loans are highly supportive and beneficial with highly favorable features.

Looking Ahead To Retirement - How To Plan Now For The Future

retirement (Photo credit: 401(K) 2013)

It may seem far off in the future, but each day that you work means that you are one day closer to retirement. And while this can seem like a golden age for some people, retiring without the adequate funds can be a detriment to those who aren’t prepared. You don’t want to retire only to discover that you don’t have enough money to live the lifestyle you wanted. This could mean that you end up living maybe even worse off than when you were working. This is probably the biggest problem facing people today as they consider when to retire.

In order to make sure that you are prepared, it’s never too early to start planning for retirement. Here are some tips for how to plan now for the future. 

Have A Budget

Even if you have a job where you make six-figures, that doesn’t mean you need to have a six-figure spending habit. No matter the job or income, be sure that you have a budget that limits how much you spend and save each month. Obviously, the latter should be weighed more heavily than the spending. By not having a budget, many people just try and play the guessing game, which usually results in overspending. But by having a drawn out budget, you can make for more appropriate estimations of how much you need to save in order to have the retirement you want. If you think you need professional help, Air Force Federal Credit Union is a great place to go and get financial advice. 

Pay Off Debt

If you think that once you hit retirement that all of your debts will be forgiven, you are mistaken. And what’s worse is that debts can be harder to pay, once you don’t have an income from working. Whether it’s student loans, house payments, or car loans, do your best to pay off those debts as quickly as possible. Not only will paying off debts get them out of the way, but they’ll also improve that credit score. And an improved credit score may make it easier when looking to buy that oceanfront property you’ve always been dreaming of. Having no debt is also a huge stress relief, and obviously frees up more of the money you worked hard to save to be spent on the things that you want, instead of paying off interest on loans taken out years ago. 

Invest

Obviously there is no place where you can guarantee that your investments will be rewarding in retirement, but there are options that put the odds in your favor. Whether it’s real estate, stocks, commodities or anything else that you feel comfortable, investing is a great way to make residual income in retirement. But rather than waiting until retirement to get involved in investing, start now so you can familiarize yourself with how it works. This will make the ups and downs of investing less volatile, because you’ll still have income from your job. 

Stay On Track

It’s okay to take a family vacation once a year, buy a new pair of shoes occasionally, or do other little things out of the ordinary. However, for the most part, it is important to remember your goals for retirement and to stay on track for those aspirations. Any slight slip-up can lead to having to backtrack and change even more of your plans. Instead, it’s much easier to just have it all lined up from the beginning, and then stay on that course until you can say sayonara to the workplace.