Friday, April 18, 2008

Iglesias says Kournikova keeps rebuffing marriage proposals (AP)

Tennis player Anna Kournikova, left, gets a kiss from latin pop-star Enrique Iglesias in this 2004 file photo at the Los Angeles Tennis Center. Iglesias says he has tried repeatedly to convince his Kournikova to marry him - with no luck.  (AP Photo/Kevork Djansezian, FILE)AP - Spanish pop singer Enrique Iglesias says he has tried repeatedly to convince his girlfriend Anna Kournikova to marry him - with no luck.

You really want to buy that house but you don't have enough credit to swing it. You have been denied several times by different institutions when you apply for a credit card. Sounds familiar? You are probably suffering from a case of bad credit. This simply means that your credit score is not high enough for lenders or financial institutions to take a risk on you. For them, you're a financial risk.

Your bad or low credit score may not be your entire fault. You may have shared your credit card with your spouse or partner who has bad credit habits and you're left to foot a bill you are unable to pay. It happens to the best of people. But the thing is bad credit is attributed to the person whose name appears on the bill no matter what the circumstances behind it are. It's all business, nothing personal.

Your credit score is the one that suffers when you incur unpaid debt. Your credit score is affected by numerous things such as whether you pay your bills on time, whether or not you borrow a lot of money from numerous accounts, the amount of time you've been borrowing, and the types of credit you're using (auto loan, mortgage, credit cards, etc.) The more negative marks you have on your credit report such as late payments, bankruptcies, etc., the lower your credit score.

How does bad credit or a low credit score affect you in the long run? Does it really matter all that much? Here are few things that will happen if you have a low credit score:

  1. You could be denied credit from credit card companies simply because you low credit score infers that you are a high-risk borrower and not a good candidate for credit.
  2. If you do get a credit line, the interest will probably be higher than usual to discourage you from incurring too much debt.

It's not the end of the world when you have bad credit, poor credit or low credit. Knowing what your credit score is is the first step towards doing something about it. You'll be in a better position to know how to improve your situation. You'll become a better borrower able to qualify for better loans if you can improve your financial situation.

Here are some easy tips you can do to salvage what credit score you already have:

  • Discontinue use of your credit cards. If you're already in debt, focus on paying them off as soon as you can and get rid of your cards.
  • Don't get more credit or loans to pay off what debt you already have. Pay them off with what you already have or are able to make even if it means paying for them little by little each month.
  • Be punctual in paying your bills. The interest incurred by late payment may be more than you can handle in the long run.

Remember, your credit score is actually a record of your credit habits. Whatever moves you do now to pay off your debts will go on your permanent credit record.

F Stewart develops personal finance software to help youth and adults better understand credit. CredMedic is a free software application that includes a credit calculator, creditor database, and personal finance information. More information is available at http://www.CredMedic.com

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5.2 earthquake rocks large region of Midwest (AP)

Janet Clem, 37, looks at the damage to her home in Mt. Carmel, Ill. Friday morning April 18, 2008 after the 5.2 early morning earth quake.(AP Photo/Daniel R. Patmore)AP - Residents across the Midwest were awakened Thursday by a 5.2 magnitude earthquake that rattled skyscrapers in Chicago's Loop and homes in Cincinnati but appeared to cause no major injuries or damage.

A bankruptcy is usually the result of some tough times. Unfortunately, millions of Americans go through this troubling event every year. The good news is there is hope for credit repair after bankruptcy. Let's look at some simple ways that you can get back on track once you have filed a bankruptcy.

If you're seeking to repair your credit, one of the first things that you actually need to do is to get another credit card. One of the best credit cards to get is one that allows you to check your credit regularly for free.

To key to getting another credit card is having control of your bills.

Once you know that you have a budget that you can handle and it's been a few months since your bankruptcy you can then get a secured credit card. Secure credit cards are Visa or MasterCard's that you must pay an annual fee and sometimes make a deposit down so that you're granted credit.

If you have filed your bankruptcy several months ago and have established a decent pattern of paying your regular bills; like electric, cell phone, and rent - it might be easier to get a credit card without having to pay any security deposit.

The trick to getting a credit card that has an annual fee attached to it is that you often times don't have to pay that annual fee. At the time that you receive your bill for the annual fee all you do is simply call the credit card company and tell them that you want to cancel the credit card. You will often be offered the opportunity to have this fee dropped in order for you to stay remaining customer. If they do not offer to drop it then of course you can always remain a customer and pay the fee.

Want you have a credit card you just want to be careful to not charge too much, and make sure that you can pay off your balance each and every month in full. By showing a consistent and reliable repay rate, you will then save yourself a lot of money by reestablishing your good credit.

It really is possible for credit repair after bankruptcy, but you must be diligent to follow through with making regular payments. If you can do this you will be on your feet in no time and enjoying the life of good credit once again.

For more credit repair help try visiting http://repair-bad-credit-fast.com, a website that specializes in providing helpful credit repair tips, advice and resources to include Credit Repair After Bankruptcy and more.

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