Hard data is such a key part of our lives these days that we need never make another decision based on trust or intuition alone. For example, human resources managers looking to hire new employees can usually find out more about the candidates from Google than from the resumes that were submitted. The same can be said for a single woman looking for Mr. Right. Why rely on what the guy tells you during the first few dates when you can often discover the truth by spending some time running Internet searches or ordering a criminal background check?
This might sound like a cold, calculating way of doing things, but too many people have been burned because of a willingness to trust too quickly. In fact, as a society, we’ve grown used to having all this information about ourselves available to anyone willing to sift through public records, and we barely even raise an eyebrow anymore when we see that a criminal background check is part of a job screening process.
But what exactly do criminal background checks consist of? What kind of information is being distributed to these future employers or significant others? Knowing what to expect from a criminal background check can help you get a better understanding of the impression you’re likely to make on other people.
Most employers just order basic criminal background checks to screen applicants. This will tell them of any arrests or convictions on your record, and might include driving records and citations as well. If you’re a convicted sex offender, expect that information to surface immediately. There’s simply no way to keep something like that hidden in this day and age. In addition, a standard criminal background check could go so far as to include any bankruptcies or property liens associated with your name.
Employers can order more thorough criminal background checks if they wish. This usually happens when you’re applying for a job where you’ll be around large sums of money, such as at a bank, casino, or brokerage firm, or when you’ll be working with children. This type of search could extend to your medical records, educational history, job history, credit rating, court proceedings, or military service record. Access to this type of data varies from state to state, however, so some of this stuff might be off-limits to anyone looking into your past.
Criminal background checks are so prevalent these days that chances are every single one of us will be subjected to this kind of scrutiny at some point. Therefore, it’s critical for us to know what kind of information is available in these reports so we can better anticipate questions or concerns during a job interview. After all, forewarned is forearmed!
Written by admin on July 14th, 2009 with no comments.
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It doesn’t seem fair to me. The government is spending billions and billions of dollars on failing corporations. The federal reserve can’t stop throwing bailout after bailout at banks. Where’s the help for the little guy? Where’s my bailout? Getting out of debt might not be as easy as getting a bailout from Obama, but there’s things you can do for little or no money to help you start getting out of debt.
Getting out of debt requires a little bit of effort. You need to first of all have a complete understanding of what your debt is. Contact the three credit bureaus and get their reports on your credit. Or use a third-party that offers free credit reports. Having a complete and full credit history is the first big step in getting out of debt; you need to understand the scope and details of the problem before you can fix it. Many times, you’ll find inaccuracies and incorrect information in your credit report. Address these immediately; it’s like getting free money.
The next thing you need to do for getting out of debt is to halt all purchasing on credit. Some people say that you should cut up your credit cards, others don’t. I think you should. Don’t even give yourself that option. Getting out of debt doesn’t mean adding on to it. You shouldn’t cancel your credit accounts however. You might be better off calling them up and renegotiating. Some credit card companies will do it; some won’t. But you’re getting out of debt – every little bit will help and it only costs a phone call to find out.
Next, build a small emergency fund. Ideally, this would be about two months worth of expenses. Don’t use a credit card for emergencies, use the emergency fund. This is not a fund for purchasing, in fact, don’t tie it to your debit card or checking account if possible. Make it its own stand alone savings account.
Then, you need to attack your debts. Make sure you pay the minimum amounts on all your debts, but in terms of getting out of debt, the best strategy might be to take the smallest balance and pay it off in full as quickly as possible.
If you’re serious about getting out of debt, you should probably consider either cutting your spending or finding additional income, perhaps a second job. Additional income goes straight to your debt collectors though! If you follow these tips, and above all – stop using CREDIT! – you should be getting out of debt in no time. Without a bailout!
Written by admin on July 13th, 2009 with no comments.
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Lots of teens drop out of high school these days, for a variety of reasons and the dropout rate is increasing dramatically. Those who graduate from high school often don’t continue on to college, with financial constraints typically the reason. Besides, teens don’t generally embrace the value of higher education and how it might impact their life and ability to have a significantly better future. Many teens are eager to go out and get a job, albeit at minimum wage. Does this shoe fit your sentiments?
It’s unfortunate that, although most parents try to convey the value to be had when you continue your education in college, you might just interpret these frequent discussions as that same old boring lecture. At your age, the future is a faraway, imaginary point. You may rationalize that you have ‘plenty of time’ for continuing education — later, at some undefined point in time. You can’t imagine turning thirty, finding yourself still in a minimum wage job, or being married, with children and a family to support. Unfortunately, this is most often the way things turn out if you do not continue your education.
While your income remains stagnant, your expenses are far greater than when you were young and single. In order to make ends meet, you and your spouse will both need to work. Remember that day care is not cheap.
Here’s a plan you might want to consider to avoid this unenviable position.
1.If you dropped out of high school, get your GED. Your local Department of Human Resources can help you get in touch with organizations to achieve this first step to continue your education.
2.If you have a high school diploma, get a catalog of classes from your local community college. Make an appointment with a counselor for advice on how to proceed, depending on your goal and interests. Ask about financial aid. If you have no specific field in mind, you should look into aptitude tests, which serve to show subjects or fields for which you have natural ability, as well as those you would most enjoy.
Your counselor can put together a list of classes which will fulfill the core requirements of an A.A. or A.S. degree program and for which the credits will be transferable to a four year college. Most community colleges now have online continuing education courses, giving you a lot of latitude in scheduling your coursework around your work schedule.
3.Continuing education certificate programs can usually completed in less than a year. There are an abundance of certificate programs in the medical field which can easily double your current income and get you some benefits, such as medical insurance and paid vacations, which your minimum wage job does not afford you. Some examples of medical certificate programs include Licensed Vocational Nurse and Pharmacy or X-ray technician. When you get your certification, you may be able to use this as a springboard to a higher degree and even better pay, with some employers sponsoring your continuing education! By now, you can begin to see that, when you make the effort to continue your education, the rewards can be great.
4.If you share an apartment or house with roommates, this naturally reduces your expenses, making the situation an affordable way to work while attending school. Taking online classes makes the strategy even easier.
5.Rome wasn’t built in a day. So too, you can continue your education at your own pace. Consistent effort is what’s needed. If take just one or two classes each quarter, you will reach your goal.
This plan does work. So, to all teens: it pays to continue your education. It’s not so difficult as you might think. You’ll be in a far better position before you’re 25!
Written by admin on July 13th, 2009 with no comments.
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Keeping abreast of your current financial situation seems like a no-brainer, something that everyone should do. But you’d be surprised at how many people don’t know anything beyond how much they have in their checking account and what their current charge card balances are. While those are probably the most immediate concerns as far as personal finance goes, you’re shortchanging yourself if you stop there. Instead, it’s absolutely critical that you check your credit score at least once a year — and even more often in some cases.
If you’re like most people, you only bother to check your credit score when you know that someone else is going to be looking at it soon. For instance, if you’re going to apply for a car loan or a mortgage, then it’s obviously a good idea to check your credit score first so you can see whether or not your application is likely to be approved and what kind of interest rates you’ll end up getting. But there are many other reasons to monitor your rating consistently.
First and foremost, when you check your credit score regularly, you’ll be able to spot and report any irregularities that you notice. Your report is based on information gathered by several different agencies, so there’s definitely room for error. The sooner you spot a discrepancy, the sooner you can have it corrected. Then your rating will be restored and ready for when you need to take out a loan or whatever.
Second, when you check your credit score, you’ll be instantly alerted to possible cases of identity theft. If you see accounts that you don’t recall opening or loan applications that you never submitted, then you’re probably a victim of identity theft. This kind of problem can have a severely detrimental effect on your overall rating if it’s not handled properly, so make sure that you alert the authorities right away if you suspect that someone has stolen your personal data.
A third reason to check your credit score is so you can see what prospective employers, insurance agents, and landlords will see when they evaluate your various applications. More and more employers are requiring this kind of information from job candidates prior to hiring, as are insurance companies and rental agencies. People simple aren’t willing to risk dealing with someone who’s financially unstable. By knowing what’s in your own report, you can avoid wasting time applying for jobs, policies, or apartments that you won’t be able to get.
Now that you know why it’s important to check your credit score, you’re probably wondering how to do so. You can get a free report once every 12 months by simply requesting one from AnnualCreditReport.com. Or, you can contact the three major reporting agencies — TransUnion, Equifax, and Experian — directly, though additional fees may apply. Don’t put this task off any longer; check your credit score online right now!
Written by admin on July 13th, 2009 with no comments.
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Identity theft and fraud are such major concerns these days that I’ve instituted a strict document disposal policy at my small business. Nobody is allowed to simply toss paperwork or files into the trash. Instead, everything is collected in a secure bin and then hauled away by a paper shredding service at regular intervals.
I settled on this policy after bringing in a consultant to go over the best ways to protect our private business information while getting rid of outdated documents. This might seem like an extreme step, but since my firm deals with a lot of financial data, including bank account and credit card numbers, I really had no choice in the matter. If a client’s personal details managed to fall into the wrong hands, my credibility — and position in this industry — would be destroyed. Going with a professional paper shredding service means that I no longer have to worry about worst-case scenarios.
You might be wondering why I didn’t just buy an industrial paper shredding machine and handle all the document disposal onsite. Well, that would certainly be a more cost-effective approach, and is an option for people who aren’t quite as picky about making sure there’s no trace of data left. I learned that, if they’re determined enough, savvy thieves can reassemble papers that have been through a shredder, and I can’t take the chance of having someone rummage through my garbage cans to turn my documents into a big jigsaw puzzle.
One of the main benefits of using a paper shredding service is that all of my files are taken completely off site to a separate facility. Once there, the documents are thoroughly destroyed, and the remnants disposed of in an incinerator. There is absolutely zero chance of recovering any data from a pile of ashes, so that definitely gives me some peace of mind. This is also something that I use as a selling point with customers who are worried about security. Once I tell them that I use an offsite paper shredding service, their fears are calmed and I usually end up with a contract.
Finding a paper shredding service was relatively easy, as this type of data disposal is rather common now. There were several companies in my area, so all I did was review their disposal procedures and then negotiate a price I could live with. I have to say this turned out to be a pretty good investment!
If you run a business that deals in sensitive data, then you might want to examine your document disposal practices to see if they’re lacking in any respect. A paper shredding service could be just what you need to guard against damaging data leaks and shore up your security.
Written by admin on July 13th, 2009 with no comments.
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As the global economic crisis worsens, people all over the country continue to worry about how they’re going to keep their jobs and pay their bills. Unfortunately, there isn’t a pat answer here, since everyone’s situation is a bit different. But even if you’re lucky enough to still be employed, you should take steps to guard against financial catastrophe in the future. One of the smartest things you can do is apply for a no interest credit card (or two) to keep on hand if worse comes to worst.
There are many sound reasons to get a no interest credit card. First, you can transfer balances from other cards you may have, thereby wiping out the incredibly high APR that banks and other issuers charge. This obviously can save you a great deal of money — as long as you pay off the new balance by the deadline, which is usually 12-24 months away. At a time when cash is tight for all of us, every extra dollar counts, so using a no interest credit card to transfer balances is typically a good move.
Another smart way to use a no interest credit card is to buy big-ticket items that you otherwise wouldn’t be able to afford. I’m not talking about that 52-inch plasma television you’ve had your eye on or a new sound system for your car. I mean expensive items that are actually a necessity. For instance, if your washing machine breaks down and you don’t happen to have an extra $600 in your checking account, a no interest credit card can come in very handy, allowing you to make minimal payments for whatever you need without any extra penalties or fees.
And finally, a no interest credit card can be used as a source of emergency funding should you ever lose your job. Ideally, you should have the equivalent of six months salary in your savings account, but how many of us can actually say we’ve got that? If you do get fired or laid off, it could take a long time to get a comparable position in today’s economy. Once you run through your savings, you can turn to a no interest credit card for living expenses, such as groceries, utilities, and even mortgage or car loan payments. You can rack up a huge bill very quickly by doing this, but it’s better than starving, being evicted, or having your vehicle repossessed.
Even if your life seems pretty stable right now, just remember that everything can change overnight. It’s better to be prepared for the worst than to be caught short because you didn’t think anything bad could happen to you. I recommend applying for a no interest credit card just in case. If you never have to use it, that’s terrific. But at least you’ll have the peace of mind that comes with knowing you have a back-up funding source at your disposal. Don’t wait any longer!
Written by admin on July 13th, 2009 with no comments.
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Most college students I know are eager to graduate and get out into the real world. Sure, school can be fun, but you eventually get to a point where you’re simply sick of going to classes, listening to boring lectures, staying up all night to complete term papers, and of course cramming for final exams. I felt the same way in the months leading up to my graduation, but now I’d give just about anything to be back in school. That’s because the job market is terrible, and I’ve got a bunch of loans that I need to pay off ASAP. In fact, things are so bad that I’ve had to look into private student loan consolidation to prevent sinking even deeper into debt.
Just a short time ago, I never even knew that services like private student loan consolidation existed. I thought the only debts people could consolidate were things like credit cards and car payments, but that’s not the case at all. Private student loan consolidation works in much the same way as those other places, whereby a financial services provider helps you consolidate all the outstanding student loans you have. Instead of having to keep track of several different payments, you would then be responsible for a single payment, and you’ll likely end up paying a lower interest rate than on your original loans, which will save you big money in the long run.
Not everyone is a candidate for private student loan consolidation, so I recommend getting a consultation to find out if this option is right for your situation. Many companies that offer private student loan consolidation can set you up with an expert that will review your case — often free of charge. You’ll then be told whether or not you would benefit by consolidating your loans, and will be given some actual data showing the potential savings. From there, you can decide if you want to take the next step of refinancing your loans.
After personally going through the process I just described, I learned that private student loan consolidation would end up saving me nearly $250 per month. That’s huge for me, since I’m having trouble finding a decent job in my field and am currently just working a couple of part-time gigs in order to make ends meet. I don’t even want to think of all the penalties and interest fees I’d be paying right now if I hadn’t opted for private student loan consolidation!
A majority of new graduates exit college saddled with debt, so you’re definitely not alone in your predicament. If you’re having a hard time making the monthly payments, then you should check out private student loan consolidation to see what kind of savings you may be eligible for. Refinancing now could end up saving thousands of dollars over the years, so don’t wait!
Written by admin on July 12th, 2009 with no comments.
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Lots of companies out there claim they know how to repair credit. But how to repair credit isn’t some sort of copywritten secret. Anyone can learn how to repair credit, and you don’t need to shell out lots of cash to do so.
The first thing you need to do before you can find out how to repair credit, is to find out what your credit report is. The three credit bureaus might not have all of the credit information; companies aren’t required to report to all three. You are best off getting a free credit report from all three. You’re entitled to a free report once a year.
Now that you have the credit information in front of you, you can make a plan on how to repair credit. The key to repairing credit is to highlight any deliquent accounts or any accounts that are past the credit limit. These are the two single biggest factors to your credit score.
At this point, the first step in how to repair credit is to make sure all information is accurate. Be ready to dispute charges and incorrect information. After that, handle all past due accounts, bring all debts to ‘current’ or ‘paid’ status; a late account will make a huge dent in your credit score.
The next important thing is to bring any over-limit accounts back under the limit. Credit bureaus track something called your credit utilization – the amount of debt you have out of the line of credit issued to you. This accounts for nearly 30% of your total credit score, so make sure that you have the debt as small as possible – or pay it off in full as soon as possible. At the very least, make sure all of your accounts are below the limit. Plus, that’ll avoid all those over-charge fees!
From here, the next step you need in order to know how to repair credit is to look into establishing new credit. This might be difficult with your previous credit troubles, but once you’ve repaired some bad credit lines, look at opening a department store credit card (which can sometimes be easier to get) and only use it if you can pay it off in the same month. Continue to work at minimizing your high debt credit lines.
With these simple tips, you know how to repair credit. Sometimes it can be overwhelming, but the steps are quite simple and now that you know how to repair credit, make a plan, with small steps and knock them out, one at a time.
Written by admin on July 12th, 2009 with no comments.
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I’m trying to manage my finances as best I can. I don’t often splurge on unnecessary purchases, and I make sure I tuck some money away into a savings account every time I receive my paycheck. I’m also trying to live by the rule that if I can’t pay for an item in full, I can’t buy it. This works for the most part, but there are inevitably some situations where I absolutely need to charge something — like last month when my car broke down and I had to spend nearly $500 on repairs. So I figure it would be a good idea to have the lowest APR credit card available to use for these emergencies.
When I was just starting out on my own after college, I applied for several cards and simply took whichever ones accepted me. I had no other choice in the matter. But now that I’m financially stable, I can reap the rewards of my good standing by getting the lowest APR credit card out there. I’m not going to worry about other perks and features right now. I just want to make sure that I don’t end up paying through the nose in high interest rates on my monthly balance. The type of savings that the lowest APR credit card can yield is worth far more to me than extra frequent flyer miles or whatever.
Finding the lowest APR credit card can be difficult because of all the fine print I have to sift through. Each bank or issuer has their own terms and conditions, and sometimes it’s hard to make sense of all the legalese. Plus, many of these issuers offer special introductory rates that make it seem like they have the lowest APR credit card around, but once the grace period ends, the huge fees begin. So I’ve got my work cut out for me regarding my search.
Fortunately, there are some helpful websites that can help cut through most of the undesirable options, leaving me with far fewer cards to research. These sites often list the “bottom line” features of particular cards, and alert you to any potential rate hikes that you should be aware of. Moreover, they often highlight the lowest APR credit card that each bank or issuer offers, and have an application form right on the site so you can see what the eligibility requirements are. This makes it easy to apply on the spot if you discover something you like.
Despite our best intentions, almost all of us will someday find ourselves in circumstances where we need to charge a purchase because we simply don’t have the cash to cover the cost. That’s why it’s important to be prepared for this circumstance by having the lowest APR credit card in your wallet just in case!
Written by admin on July 12th, 2009 with no comments.
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Less than a decade ago, most merchants and service providers abided by the saying “cash is king”. Consumers could do anything they wanted, as long as they had the cash to cover their expenses. But the landscape has been changing over the years, and now credit cards are required to secure this and guarantee that even if you intend to pay the bill with greenbacks. Want to rent a car or book accommodation at any level above the fleabag motel variety? Then you better have some plastic in your pocket.
This is not a problem to those lucky enough to have a stellar credit rating, but what if you’ve had some financial setbacks that prevent you from getting traditional credit cards? Are you doomed to a life of hassle and inconvenience, not being able to buy what you want just because someone else decides to dictate the method of payment? Not at all, especially if you’re able to get a secured Visa card.
A secured Visa card is the perfect solution for people who can’t qualify for standard cards for one reason or other. Instead of getting a line of credit from a bank, the secured Visa card is backed by your own funds that are deposited with the issuer. The usual minimum deposit for one of these cards is around $300, while the maximum can be anywhere from $500 to $1,000 depending on the specific terms and conditions of your agreement. This security deposit must be maintained at all times, at the risk of additional penalties or fees, up to and including possible revocation of cardholder privileges.
Because offering a secured Visa card is one way to attract customers who could potentially worth lots of money in future interest charges, there are plenty of issuers to choose from. Some are definitely better than others, however, so it really pays off to do some research and comparison shopping before submitting any applications. For instance, some banks charge an application fee, but others don’t. In addition, there’s surprisingly wide variation in the annual membership fees assessed for a secured Visa card, as well as different interest rates. Finding the best combination of all these factors could take some work.
The best part about getting a secured Visa card is that you’ll have an opportunity to rebuild your credit. Provided that you make all your payments on time and don’t have any other problems, your credit rating should improve to the point where you might qualify for unsecured cards in a couple years. This should absolutely be your goal.
If you’re tired of being hamstrung by retailers and other service companies that require credit cards, then maybe a secured Visa card is the right alternative for you. Apply for one today, and start enjoying the financial freedoms that everyone else has!
Written by admin on July 12th, 2009 with no comments.
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