Not all debt is bad, in fact debt can be valuable if handled properly. Credit lines and loans can help individuals build credit and get ahead in life.
Debt can work for you, if you work out your debt.
Your debt payment history will determine your credibility to lenders and if you have been responsible, you will qualify for even more!
But what debt agreements are good and what are bad?
Generally, any debt that has a low interest rate is good debt. Any debt that has a high interest rate is considered bad debt.
Debt that creates opportunity or growth is good debt!
For example: a student loan would be considered a good debt. Some would even suggest a student loan with a high interest rate, though not ideal, is useful debt. The purpose of student loans is to become educated and achieve job opportunities. A student loan represents a positive goal that will bring an individual financial gain.
A store credit card, even with a low interest rate is not necessarily good debt. Though it would be considered a good deal on a credit card. A department store credit card can help you establish credit. However, the purpose of the card, to get clothes or things, does not carry the same positivity as say a student loan.
The best advice we can give you when it comes to "bad debt" is to pay it off. In other words, picture this, John Doe has two credit cards. One has a high interest rate, one has a lower interest rate. Paying off the high interest rate credit card is smart and will help him get rid of bad debt.
Find out about your specific debt and credit history. ICC can evaluate your credit report and show you what is good debt, what is bad debt and how to boost your credit score.
Innovative Credit Consultants offers everyone a chance to receive a free credit report analysis, a free credit repair consults and a free customary credit repair plan, visit www.icreditinc.com
Credit education starts with ICC! Innovative Credit Consultants presents must read information for consumers nationwide. ICC is devoted to making credit count! Get the right information about your credit report today www.icreditinc.com.
Friday, July 30, 2010
Thursday, July 29, 2010
Save Money, Save Energy
The United States Department of Energy reported that Americans spend 22 billion dollars a year on electricity for air conditioning.
The U.S. Department of Energy has started an energy blog. You can learn about ways to conserve energy for the environment and for your pocket at http://www.energy.gov/. Feel free to check back with ICC, since we bring the news to you!
Did you know using a ceiling fan costs less than a penny per hour?
Have you charged your electric bill this summer to keep your home cool?
Are you past due and watching your electric bill rise while concerned about how to cover the cost?
Watts- Comparison Chart
Window AC Unit uses 500-1400 watts
2.5-ton central Air System uses 3500 watts
Ceiling Fans use 15-95 watts
Innovative Credit Consultants specializes in ethical, intelligent credit repair solutions for consumers nationwide. While credit repair has been riddled with scams, consumers still need a valuable resource for credit repair. ICC is committed to educating consumers about how to make their lives better by establishing better credit and better spending habits.
Think about your utility spending. Are there changes you could make to lower your monthly spending?
With so many Americans out of work, maybe investing in a ceiling fan and toughing out the heat is smarter then creating bills/debt for hundreds of dollars each month. People will find a way to pay their electric bill because no one wants to have their
electricity turned off! To pay your electric bill you may put off paying something else. With August already here, see if you can change your air conditioning usage and track if you save! Then come next summer you will be able to
manage your usage and cost of cooling your home.
In order to build credit you must manage your spending and create an opportunity to save and pay your bills on time. In order to accomplish this, you have to evaluate your needs, your spending and your goals. We understand this is stressful and some people need the right start, contact us today for an obligation free credit repair education.
Get the information you need about functioning productively at www.icreditinc.com
The U.S. Department of Energy has started an energy blog. You can learn about ways to conserve energy for the environment and for your pocket at http://www.energy.gov/. Feel free to check back with ICC, since we bring the news to you!
Did you know using a ceiling fan costs less than a penny per hour?
Have you charged your electric bill this summer to keep your home cool?
Are you past due and watching your electric bill rise while concerned about how to cover the cost?
Watts- Comparison Chart
Window AC Unit uses 500-1400 watts
2.5-ton central Air System uses 3500 watts
Ceiling Fans use 15-95 watts
Innovative Credit Consultants specializes in ethical, intelligent credit repair solutions for consumers nationwide. While credit repair has been riddled with scams, consumers still need a valuable resource for credit repair. ICC is committed to educating consumers about how to make their lives better by establishing better credit and better spending habits.
Think about your utility spending. Are there changes you could make to lower your monthly spending?
With so many Americans out of work, maybe investing in a ceiling fan and toughing out the heat is smarter then creating bills/debt for hundreds of dollars each month. People will find a way to pay their electric bill because no one wants to have their
electricity turned off! To pay your electric bill you may put off paying something else. With August already here, see if you can change your air conditioning usage and track if you save! Then come next summer you will be able to
manage your usage and cost of cooling your home.
In order to build credit you must manage your spending and create an opportunity to save and pay your bills on time. In order to accomplish this, you have to evaluate your needs, your spending and your goals. We understand this is stressful and some people need the right start, contact us today for an obligation free credit repair education.
Get the information you need about functioning productively at www.icreditinc.com
Wednesday, July 28, 2010
Renting and Owning
On July 26, the Census Bureau reported home ownership rates fell 66.9% in the second quarter. The first quarter indicated a 67.1% home ownership rate. This is the lowest home ownership rate to be reported in eleven years. Vacancy Rates for owners fell 2.5% in the second quarter and vacancy rates in rental homes remained at 10.6%.
What does this mean? People can not make payments or get loan approval. Home ownership is difficult due to job loss, debt and high credit standards for loans. Renting is becoming more common as people simply can not get approved for mortgages. Home ownership creates other expenses: property tax, insurance, school tax, water bills, sewage removal and more. The pressure of home ownership is too much in an economy where people are barely making the money they need to survive. Homes often need maintenance and home repairs are expensive.
Renting is becoming necessary as the American dream, defined as home ownership becomes impossible for most regular Americans.
Whether you rent or own, you will have bills and need a way to pay them. Everyone needs a paycheck and a place to live. Everyone needs useful credit so that they can qualify for a rental agreement or mortgage.
Have you been effected by this economy or job loss?
Do you need to restore your credit so that you can get approval for a place to live?
You can get the information you need- for free.
It is important that every consumer has a chance to understand their current credit score and credit potential.
Innovative Credit Consultants provides each individual with one on one attention and a free credit report evaluation and credit repair consult.
What does this mean? People can not make payments or get loan approval. Home ownership is difficult due to job loss, debt and high credit standards for loans. Renting is becoming more common as people simply can not get approved for mortgages. Home ownership creates other expenses: property tax, insurance, school tax, water bills, sewage removal and more. The pressure of home ownership is too much in an economy where people are barely making the money they need to survive. Homes often need maintenance and home repairs are expensive.
Renting is becoming necessary as the American dream, defined as home ownership becomes impossible for most regular Americans.
Whether you rent or own, you will have bills and need a way to pay them. Everyone needs a paycheck and a place to live. Everyone needs useful credit so that they can qualify for a rental agreement or mortgage.
Have you been effected by this economy or job loss?
Do you need to restore your credit so that you can get approval for a place to live?
You can get the information you need- for free.
It is important that every consumer has a chance to understand their current credit score and credit potential.
Innovative Credit Consultants provides each individual with one on one attention and a free credit report evaluation and credit repair consult.
Friday, July 9, 2010
Consumer News
According to the United States Department of Labor, bureau of labor statistics, data is collected monthly to determine national employment statistics. You can become familiar with these stats and review routine reports at http://www.bls.gov/home.htm Here, it is explained, “a program surveys about 140,000 businesses and government agencies, representing approximately 410,000 individual worksites.” This survey communicates information about a single business’s employment rate, hours and payroll. This survey is conducted monthly in all 50 States, the District of Columbia, Puerto Rico and the Virgin Islands
It sure doesn’t feel like the job market has gotten better or that the unemployment rate has gone down. So what are the most recent statistics?
Recently on July 2, the U.S. Department of Labor posted: "Total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged down to 9.5 percent."
On June 30, 2010, United States Department of Labor posted:
"Unemployment rates were higher in May than a year earlier in 222 of the 372 metropolitan areas, lower in 141 areas, and unchanged in 9 areas."
"Unemployment rates were higher in May than a year earlier in 222 of the 372 metropolitan areas, lower in 141 areas, and unchanged in 9 areas."
On June 24, 2010, the United States Department of Labor posted:
"In May, 37 states and the District of Columbia registered over-the-month unemployment rate decreases, 6 states recorded rate increases, and 7 states had no rate change."
"In May, 37 states and the District of Columbia registered over-the-month unemployment rate decreases, 6 states recorded rate increases, and 7 states had no rate change."
Become familiar with what is going on in our economy by reading these reports directly. Sometimes watching the news and reading all the confusing information on the internet is stressful. You can follow up with Innovative Credit Consultants, if it is easier, as we bring out information that matters to consumers. Get the facts about consumer credit at Innovative Credit Consultants.
Wednesday, July 7, 2010
The Difference Between a Credit Freeze and Fraud Alert.
Identity theft is an unfortunate reality for consumers. What can consumers do if suspicious their personal identification is being used fraudulently?
What is a Fraud Alert?
A fraud alert is attached to your credit report and initiates creditors to directly contact you during an application process. The alert indicates your personal information is at risk. A creditor then must verify you are truly applying for the line of credit.
While a fraud alert makes creditors verify your application, it is not nearly as effective as a credit freeze.
How does a credit freeze work?
Credit bureaus cannot access your credit report when a security freeze is placed on your report. You must contact all three credit bureaus to place the freeze. When a security freeze is placed on your report, thieves will not be able to achieve any lines of credit simply because creditors won’t be able to access a credit report to approve the application. When you want to legitimately apply for a line of credit, you would use a personal pin code in order to release your credit report to the creditor-temporarily. A security freeze will last as long as you want it to, you place it and you lift it.
Innovative Credit Consultants gets back to basics to bring consumers important information and news. Get the right information at icreditinc.com
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