Some credit mistakes that hurt your credit report

Credit score is the determinator of your financial position and creditworthiness. Lenders use credit scores to know your financial position, thus it is an important element to qualify for a loan. A healthy score will help you to get higher loan with lower interest rate. But always we are not able to maintain a good score because of some reasons. Let's have a quick view over them.

1) The missing payment hurts a great deal over your credit score. Missing payment includes "the frequency of your late payments". If you make your payments late and it is regular then your credit score hurt seriously. So try to make your payments regular with specific time limit. Previous 2 years are very important as it keeps lot of weight over your credit score. The lenders judge these two years to confirm your loan amount because they think it is your normal payment behavior. The severity of your late payment is also an important part in your credit score. Just compare the late payment of 20 days and 90 days. 90 days late payment will certainly hurt you more than of 20 days.

2) If you take debt settlement program then it shows that you paid lower payment of what you owed. And it will show as "deficiency balance" in your credit report. This is really negative information of your credit report. This info. may show in your credit report for 7 years. Lenders may think twice to provide you loan if you have such info in your credit report. So try to pay at least the total amount that you owed, and here you can accept the debt consolidation program than to go for settlement program.

3) The credit cards have a certain limit of utilization. If you over utilize it then your credit score will not be good. Let's take an example: if you have a credit card with a limit of $20,000 and you have utilized $10,000 then you have utilized 50% of your total credit limit. Your credit report will be good if that percentage remains low.

From the above discussion we can say that try to avoid these credit mistakes and build a good credit score in your credit report to utilize a good credit facility when you will need most.

Micro Credit - a new financial trend in the developing countries

Recently we have heard about a topic "Micro credit". Let’s have a small discussion about it. It is a small loan given to the poor people or poor entrepreneurs.

This has been one of the major successes in the developing countries. It can be called a new financial innovation to the poor. The poor people are really benefited by this idea and mostly the implication of it. In the developing countries, the problem that hurts most is unemployment. But this idea can solve a major part of it. Especially the women will be mostly benefited because they will find themselves in a platform from where they can think something better. Finance companies also are more interested to give the loans to the women rather than the men. Because women are much reliable in terms of paying the loans in time.

Credit is very important word for all of us. It has vast uses, either in the terms of micro credit or credit score for individual.

U.S. Economy weakest in three years (GDP rate down from 2.6 to 1.6)

The U.S Economic growth in the third quarter shows that it slowed to the weakest point in more than three years. It was not expected, the analysts had forecasted something else.

Gross Domestic Product (GDP) in the latest quarter shows a growth of 1.6 percent which was 2.6 in the last quarter, said by the Commerce Department. Economists had forcasted a slowdown to 2.1 percent.

Slower than expected ecomomic growth isn't positive, while some economists indicated that the economy will bounce back in the current quarter, helped by lower energy prices. Spending of the consumers came in a bit weaker than expected.

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The Earnings of Google! Next stop $500?

Google reported the third quater sales and earnings or profits. Google has broken the estimation of the experts and analyst regarding the profit for online advertising.

The value of Google's share shot up or increased about 7 percent after the market closed Thursday. Google stock soared up near $457 early Friday and it is not far from its all time high. Citigroup hiked its price target to $600.

California-based Google reported sales of $2.69 billion, up 70 percent from a year earlier. It is excluding the advertising revenue that the company shares with partners, Google's sales were $1.87 billion, ahead of Wall Street's forecast of $1.81 billion in sales on this basis.

The company reported net income of $733 million, or $2.36 a share, up 92 percent from the same period last year. Google posted a profit, not including certain gains and charges, of $2.62 a share. That exceeded consensus estimates of $2.42 a share.

Google gaining momentum:

Google is gaining its market share value in search at the expenses of Yahoo, MSN and others. Web traffic research firm "Nielsen/NetRatings" reported that Google has increased its search upto 24 percent from its early year. Yahoo's search volume climbed up just 12 percent and MSN fell 12 percent from its last year search. But the experts think Yahoo could become the tougher competitor to Google now that it has finally launched its new search technology for Advertisers, code-named project "Panama".

How to make yourself free from your debt burdens?

In this jet age everything is very fast and modern and in the same way the need of taking loan is also fast.

To be in debt is really a matter of great concern. No one wants to be in debt but there are certain things which force individuals to take loans. Some cases are also like that where the nature of one person through oneself in trouble. They can't control over their expenses and life style. Now the questing arise how we can come out from this problem. Yes we have the answer and it is to consolidate debt. Here I will discuss about the benefits and utility of debt consolidation and how it can make you life back on track again.

Ways to reduce your debt:

There are several ways by which you can reduce you debt, here I am discussing some of the important points.

1. Deceasing the expenditure
2. increasing the revenue streams
3. paying back the debts which are overdue instantly
4. Take help of the professionals.

It's significant that you budget the expenses proportionate with your income or revenue. If you consume much than you gain, so you need to go debts to wrap upward your expenses. If you gain much than you consume, so you have savings. It's really hard to increase revenue or income, thus to cut debts you must cut your outlay too. Budget for the needed and the emergency outlay that you may get. Prioritize the listing of outlay. If something can be delayed till the next month, so do then. in this manner, you wouldn't demand to go short-term loans such as payday loans to wrap the deficit.

It's hard to increase the revenue streams but it can be done. This can intend that you go upward a night work in addition to the day work or shift over to another work that pays easily. Or someone in the household may get to go upward an extra work. In this manner you can rapidly pay your debts and therefore cut the loans.

Pay backwards delinquent debts instantly. Don't be laid backwards on paying backwards the debts such as mortgage loan charges, automobile loans charges etc. , as they might go off the fiscal asset and you might too suffer the collateral. Therefore you suffer on both counts.

If your situation is such like that you are unable to take proper decision then you should take the help of the professionals. They can give you right suggestions, whether you should opt for debt consolidation services or debt settlement services.

So, follow these strategies to make yourself out of your financial problems and move forward to a debt free life.