Credit Repair For Free!

The Obama Administration recently announced that it wouldn’t allow lenders to foreclose on unemployed homeowners until they miss more than a year of monthly house payments, The Washington Post reports.

While this is temporary good news for homeowners, it’s more of a stopgap measure than a real solution. The Federal Housing Administration previously required banks to allow its borrowers to put off mortgage payments for four months while lenders worked out options to keep people in their homes. The national unemployment rate was 9.1 percent in May, while it sits at 8.7 percent in Illinois.

Chicago Bankruptcy Lawyers have seen many desperate homeowners, especially those who are unemployed and scrambling to keep their houses, seek out home loan scams and other programs in the hopes of keeping their homes. But as people remain unemployed, their credit card debt typically increases, leading to extended debt.

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Tags: Homeowners, Unemployed Homeowners

Credit card Q&A: “What credit card has the lowest interest rate?”

When it comes down to it, credit card interest rates are constantly changing, so it’s hard to say “X” or “Y” credit card comes with the lowest rate.

It’s an ever-evolving landscape, with credit card issuers locked in fierce competition with one another to offer the best rate, bonus, cash back, etc.

0% is the Lowest Interest Rate…

But one thing I can say definitively is that the lowest interest rate you can obtain on a credit card is 0%.

Sure, that’s obvious, but let me delve a little deeper.

Most credit cards these days come with 0% APR for some promotional period, whether it be six months or 21 months.

During that time, you pay nothing in the way of credit card finance charges on your new purchases and/or balance transfers.

It’s important to distinguish those two categories, as the credit card APR on purchases and balance transfers often differs.

For example, you may see a credit card that offers 0% APR on purchases for six months and 0% on balance transfers for 12 months or longer.

Or you may see a credit card that offers 0% APR on purchases for six months and the standard interest rate on balance transfers from the offset, which could be in the teens or higher.

The combinations are really endless, but the point is that the APR will vary, and it’s important to know what it is in all instances.

A low interest rate for purchases accompanied by an astronomical interest rate for balance transfers could burn you if you’re looking to transfer credit card debt.

Conversely, a credit card with a standard purchase APR and a 0% balance transfer APR won’t do you much good if you don’t have an existing balance and plan to buy a lot of new things.

How Low Are the Interest Rates?

The funny thing about so-called “low interest rate credit cards” is that the APR is often in the low teens, as opposed to the high teens or 20% range.

So instead of an astronomical rate, you wind up with a slightly more reasonable rate. Calling it “low interest” is a bi

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Tags: Interest Rate, Lowest Interest, Lowest Interest Rate, Rate

There are times when a good quick loan is the best, and probably the only solution to a financial problem. Even when you have your personal finance managed properly, you may still come across an unexpected expense that creates a gap in your monthly budget. Thankfully, banks and other financial institutions are now offering several interesting quick loans that you can use to fill the gap very easily.

Payday cash advance is one of the best loans to take out when it comes to filling an urgent financial gap. You can complete the entire application process and get the money you need transferred into your bank account in a matter of hours – the process can sometimes takes even less than an hour – which means you will be able to solve your financial problem almost instantly.

If you have credit cards, you can also make a cash withdrawal to get the money you need. Rem Read full article…

Tags: best loans

Its QA time again. This one comes from babe112083 who is asking

Anyone know of any really good secured credit card deals for people who have bad credit? Im looking for one preferably with minimum annual fees.Actually I just read what the difference between secured and unsecured is and I really want an unsecured credit card. Is there any that you would suggest?

Answer: I can understand why youd what an unsecured credit card. The title itself implies you dont have to put down any of your money. This of course is very misleading.Stay away from unsecured credit cards for bad credit. Its true; in most cases you dont have to put down a dime..but when you get your 1st billyoull most likely see a very large annual fee. Ive seen unsecured credit cards with an $150 annual fee. I just think a secured credit card is better. At least if you ever close it, youll get your deposit back. With the unsecured credit card for bad credit, your annual fee just goes to the bank. Read full article…

Tags: Bad Credit, Credit, Credit Card, Secured Credit Card

Here’s an email I got today from Jennifer.

Jen and Ken filed bankruptcy in February 2010. Because Jen’s bankruptcy does NOT show on her credit report, her credit score is much lower than Ken’s.

( Jennifer and Ken are not their real names.)

If your after bankruptcy credit rpeort isn’t right, we’ll work with you on dispute letters to the credit bureaus. If letters don’t work, we’ll sue.

“Mr. Weed:

“Our discharge was a one year ago in June 2010. When we tried to buy a car back in December 2010, the Chapter 7 discharge was not on my credit report. I pulled my credit a few days ago and the discharge is still not showing, many account are marked as delinquent and my score is terrible. I filed several ‘disputes’ with Equifax but this could take up to 45 days. Why is the discharge not on my credit report? What can I do to fix this?? I am very frustrated that my credit looks terrible. The discharge Read full article…

Tags: Credit Report, Report