LOWE'S FINANCIAL

It's a bad day when your car gets repo-ed. Ending your work day by discovering the repo man has come and gone is a terrible situation. We don’t always have enough money to pay our credit cards, but not making our car payment carries a whole separate set of circumstances. One being, your transportation can vanish!

When you buy a car, truck, or other vehicle on credit, you should be aware that, until you have made the last payment your creditor retains important rights in the vehicle. These rights are established by the contract you signed and by the laws of your state.

Your failure to make timely payments on the vehicle carries serious consequences. Your creditor has the right to "repossess" -- take back your car without going to court or, in many states, without warning you in advance. It's completely legal to take back a car that's behind on payments.

However, your creditor's right to repossess your car is subject to some limitations. In particular, state law places limits on how your creditor may repossess the vehicle and resell it to reduce or eliminate your debt. If any rules are violated, your creditor may lose other rights against you, or even be required to pay you damages. For further information about the rights discussed generally ask the company or person doing your credit do they know your state rights on repossess. If they pause then they don't, if they say yes tell them to show hat they are. This is a in justice to the consumer if you claim you know about credit and can't fix this problem of both involuntary repossessions or repo's.

So you’ve come up with a great idea for a business, know that you want to make it a reality, and are very motivated, but now the hard part of securing funding comes into play.

With a number of different funding options for an entrepreneur to choose from, crowdfunding is a great option for those who want to start raising money and gauge consumer interest with minimal expense. A successful crowdfunding campaign is contingent on how well planned out it is before it is launched. Wazgo is a great platform to help with the planning of your campaign.

Two current Kickstarter campaigns that are off to great starts (due in large part to some great planning) are:

PADS! The Series: An internet-based series set in the 1980’s about three women taking on Wall Street. With 3 weeks left to go, the campaign is almost ⅔ of the way funded! Using Wazgo to plan their campaign has really helped them get off to a great start.

Coffee Blocks: Made with grass-fed butter, coconut oil, coffee, and egg yolks, Coffee Blocks are the easiest way to make high energy, healthy fat filled coffee. With a month to go, this project has almost ⅓ of its goal pledged. The project of a Finance Store employee’s family member, this campaign was well planned and is set up for success.

Crowdfunding can be a great way to get funding for you or someone you know to see their business venture succeed. Wazgo is the way to go to get any crowdfunding campaign off to the right start.

Hello I am going to go into some things you need to know as a consumer about Experian, Equifax, and TransUnion grading scale. But first I like to just share with you the two grading scales ok. The next two post after this one will be a little information how this came about. Then we go into the two scales and how they will effect you. But for now I was to just make you aware of the two grading scales so you can see where you are now. Keep in mind that still Experian, Equifax, and Transunion stillhave their own in house grading scale in which you learn about next over the weekend in those blogs. 

The MyFico will br based on a grading scale from 350 to 850 like always.

Up to 499

500 - 549 

550 - 599 

600 - 649 

650 - 699 

700 - 749 

750 - 799 

800 - 850 

The VantageScore will be based on a grading scale from A to F similar to what is used in elementary school:

• 901-990 A

• 801-900 B

• 701-800 C

• 601-700 D

• 501-600 F

Once you have learned your lesson about your past irresponsible credit behavior, you need to reset your priorities regarding how you should live. Indeed, some of your financial difficulty may have been caused by plain old bad luck. That raises the question: Why were you not responsible enough to set aside money to get you through hard times? Nothing is promised to anyone and everyone should be able to cover their own back. Unlike in the past, your focus should be proper debt management, long-term savings, and responsible spending.

Bankruptcy is a serious matter. It is not the end of life as you know it. Many have lifted themselves up and started living responsibly and are once again enjoying life. Once you are on the proper path, you may be pleasantly surprised how new financial responsibilities may offer themselves to make your future quite bright.

Acceptance

A bankruptcy is a death of some sort-that is, the death of your financial stability and security. Like most deaths, one needs to go through the stages of grieving, of which acceptance is crucial. You need to acknowledge that you've made bad financial decisions and that your bankruptcy is just a mere consequence of those choices. Don't be too hard on yourself. Instead, consider this a challenge to overcome and a lesson to be learned.

Be Firm on Your Resolve Not to Repeat Past Mistakes

A couple of months after you've filed for bankruptcy, you'll find that some firms are willing to give you loans. Take this as an opportunity to rebuild your credit rating. Consider the interest rates and your capability to pay them before you take out a loan. Pay your monthly dues religiously and promptly. This helps improve your credit rating and sends out the message to your creditors that you are dead set on managing your credit conscientiously.

Commit and Dedicate Yourself to Becoming Debt-Free

Keep track of your finances. Monitor your spending and strive to keep it at a minimum. It helps to make a record of all your expenses to get things in perspective. Pay your bills on time and whenever possible, give more than what is needed to cover the minimum fees. Keep in mind that doing so will take you one step closer to your ultimate goal-that is, to be free of debt.

Consider opening new accounts where you can. Do not go in over your head and make payments on time. Another good method to start improving your score is to take out a secured credit card and opening a credit union account. Generally, you make a deposit that establishes your spending limit and then you must make payments on what you purchase.With the secured credit card. If you like to know in full detail the proper credit cards to use, how to use them to your advantage, and how to start the secured credit card off you need to visit: www.coveringyouwithwealth.com

Now opening a credit union account is great because of the relationship you can build. That is a good start to show that you are a responsible person. You are able to out your character back in tact as well.You should always make your first purchase by using the credit union after the bankruptcy is over. Unless the credit union authorize a purchase with you to help.  

Taking these steps is important. Be patient. It will take some time for you to reestablish your credit worthiness, but you can do it. Their is more to learn about recovering after backruptcy.

Your bankruptcy can stay on your credit history for up to ten years. Do not stand still for those ten years. First, pull a copy of all three credit reports and scrutinize them for errors and omissions. Chances are you will find a number of mistakes and you should write to each of the credit agencies disputing the information and asking them to remove them from the report. If you don't know how to read your credit report get you a expert credit analysis done at: www.coveringyouwithwealth.com it comes with education as well. 

Next, you will need to start a budget and future financial goal planning as well. Know that this new start can be a great start if you approach it right. The road you are on now is about education so, that you will become more aware of the little things you can do to better yourself.

Once you have some new secured credit cards be sure that you always pay on time every month. If you miss a payment or pay late, you are putting yourself one step further away from having good credit again. Also, make sure you talk about the wise use of secured credit cards. They can be a powerful tool which gives you all the control to improve your credit. This education is also offered at: www.coveringyouwithwealth.com. Just fill out the Inquiry under the tab on your left. 

Two major forms of bankruptcy relief exist: Chapter 7 and Chapter 13. Chapter 7 calls for the complete liquidation of all personal assets (selling absolutely everything) to satisfy the interests of creditors. You may end up owning absolutely nothing, but you will not have any bills lingering from the past. Chapter 13 involves a court-supervised repayment plan that can last up to five years to satisfy the interests of the creditors. Usually the paycheck of the defaulter is garnered for a certain amount each month. Some assets, such as a home or a vehicle, may be retained by the defaulter. Though future lenders may look more kindly on a Chapter 13 bankruptcy, they are basically equal and the road to recovery is about the same.

It should mean a lot. Bankruptcy is one of the nastiest financial things that can happen to an individual, embarrassment not least among the drawbacks. But, consider that it can lead to denial of credit, housing, employment, along with other repercussions. Personal relationships may suffer serious damage. The trauma leading up to the bankruptcy and the process itself has led to many a divorce or lost friendship. And it is not cheap: Loss of assets, legal fees, other direct or indirect costs. You will be paying inflated interest fees and enduring uncomfortable terms for any future credit - if you can get credit - for a long time to come.

Going through a personal bankruptcy can be quite distressing for most individuals. After having gone through the motions of filing for a bankruptcy, one is left to deal with a multitude of psychological demons fueled by the uncertainties of the future. Recovering from the trauma that a bankruptcy brings may seem such a daunting task, but don't lose heart because recovering from a bankruptcy can be as easy as ABC.

The Main reason for this is because bankruptcy usually stays on your file for up to ten years. This means that it is harder to gain credit in the future and opening bank accounts and getting a mortgage can seem to be almost impossible during that time. However, there are ways in which you can successfully recover from bankruptcy. You can even do it in half the time.

The road to bankruptcy recovery will probably be long and sometimes frustrating, but you can get through it. Be aware that you will get denied for things and just do anything that you can to ensure that you aren't making any of the same financial mistakes that you made before.

Do you need to sue a debt collector? Most debt collectors abide by the law when they are trying to collect money from consumers; but there are bad apples out there willing to use illegal tactics to try to get consumers to pay up. And sometimes that means that instead of worrying about a debt collector suing you, you should sue the debt collector.

It's important if a debt collector contacts you, to know what the collector can and can't do according to the federal Fair Debt Collection Practices Act (FDCPA). If you believe that the debt collector has crossed the line and may be using illegal tactics to try to collect money from you, you may want to contact a local consumer law attorney with experience handling collection cases. After talking with you, the attorney may suggest that you sue the collector. (Your state may have its own debt collection law that is stronger and gives you more rights than the federal law. If you pursue a lawsuit, your attorney will file it using either the federal law or your state's law -- whichever is best for you.)

Here are some examples of when a debt collector has violated your rights under the FDCPA. The collector:

• Uses obscene, profane or abusive language when talking with you.

• Threatens you with violence

• Calls you repeatedly with the intent of harassing or annoying you. For example, the collector calls you over and over on a single day or multiple times during the same week.

• Threatens to ruin your credit forever, to tell your employer, your parents or someone else you know about the money you owe, or to throw you in jail.

• Threatens to garnish your wages, take your home or put liens on some of your assets without the legal authority to follow through on the threats. To do so, the debt collector must sue you and win the lawsuit first.

• Represents or implies that he is an attorney when he is not. However, some attorneys do collect debts for their clients - and if they do, they must abide by the Fair Debt Collection Practices Act.

• Misrepresents the amount of the debt that you owe or tries to collect a debt that you already wiped out through a Chapter 7 bankruptcy.

• Continues contacting you after you've informed the debt collector that you do not want to be contacted about your debt again

• Keeps contacting you at work after you've told the collector that your employer does not want him to contact you on the job.

• Calls you before 8AM or after 9PM, unless you've told the collector that it's okay to call you then.

• Does not provide you with written verification of the debt he says you owe after you've asked for that information.

If you need help with a Debt Collector please visit: coveringyouwithwealth

How much do you really know about the kinds of credit cards out there? If you keep just a few days of todays mail that comes in advertising credit cards, you now there are many types and styles of credit cards offering a number of different services and perks to those who use them.

Deciding which credit card is best for you is easier once you know the types out there and what they have to offer. This information can be used to decide which one will best suit your needs.

Standard Credit Cards - The type of cards that are the most common are standard credit cards. These cards allow you to make a purchase, on credit, and pay it back over time with interest tacked on at monthly intervals. You will see many of the offers you receive are 0% APR or low fixed interest cards with balance transfer options. These offers are normally sent to you based on your credit score.

Premium / Reward / Cash Back Cards - Credit Cards that offer something in return for your usage fit into this category. These cards offer special incentives where in which the more you charge, the more you get back in regard to reward points or cash back. These returns on your money could be in the form of points you collect to get gift cards, cash back, airline miles, or a number of other perks. Generally most people that use rewards credit cards will pay off their balances each month but use the reward credit cards to pay for almost all of their monthly expenses thereby building up enough points to use to pay for complete vacation packages by the end of the year. This is a very smart technique if done properly.

Secured Cards - For those with bad credit, or parents who don't trust their children with uncontrolled credit cards, secured credit cards are the way to go. These cards have to be 'charged' with money before they can be used, and are much like using credit cards. Many student and bad credit cards fit in this category. This can be important for students when they get out of school to have a credit history built up using a regular student credit card verse a prepaid card. It really depends on how responsible that student is in managing their money on which type of credit card they should carry. It also helps the consumer who master the use of a Secured Credit Card with their life needs. For the best secured credit cards available to build your credit score visit: coveringyouwithwealth

Pre-Paid Credit Card- This card is secured with a fee to load the card. It acts just like your bank debit card but the money has to be pre loaded on the card. This card comes with lots of extra fees you have to read in the privacy statement. Also, when using the card some cards freeze your funds on certain purchases. The card can be used where a visa and master card logo is used. You cannot build your credit score numbers with a prepaid credit card. 

Business Cards - Businesses get extra perks when it comes to credit cards. Often lower interest rates are attached to business credit cards, as businesses are not seen as a high risk, and individuals are. Additionally, business credit cards often have larger spending limits to allow businesses the money they need for capital improvements. A good business credit card can also build points over time that can offset expenses in regard to office supplies and travel by building up airline miles.

Charge Cards - For people that spend a lot of money each month, but pay it all off at the end of the month, charge cards could be the best bet. These cards have no credit limits, but must be paid, in full, each month. American Express is one of these companies that has cards with unlimited spending limits but that must by paid off each month. This allows a credit card user the availability of a large amount of credit on the spot when making large purchases without have to write a check or carry large amounts of cash. You also do not pay interest on these credit cards since the balances are paid each month.

Once you know the general type of credit card that is best for your financial situation, you can start to narrow down the perfect card by comparing the different types of options for you.

Before ever entering into credit card agreement, make sure to look at more than just the type of credit card. Scrutinize annual fees, interest rates and other terms attached to a credit card to make sure it is the best choice for your spending future.