Monthly Archives: January 2017
The costs of running a car are increasing all the time so it is more important than ever to start cutting back on your insurance premiums.
Insurance is a competitive market. Providers are in the business to make money and deals are not always as great as they first look. Understanding the rules of the game can help you to make a more informed choice about your car insurance. Before you start looking for a policy here are some important insider tips that could save you a lot of money:
• Credit Records – many people don’t realise that their credit record could make a difference to their car insurance premiums. However industry studies have shown there is a direct link between consumer credit scores and car insurance premiums. If you have a poor credit score your premiums will typically be higher. This is because statistically you are more likely to make a claim against your insurance or fall behind with your payments. Having a poor credit score can increase your car insurance ‘risk factor’. This means it is important for your overall financial health to keep up with your credit accounts and try to maintain a good credit score.
• Car Type – the model of car you own affects your car insurance premiums. Insurance companies have a rating system for each make and model of car. This is based on data gathered from national safety, accident and theft reports. It is worth checking how much it costs to insure a car before you buy. You could make a significant saving on your car insurance premiums by simply opting for a car in one of the lower ratings bracket.
• Pay Upfront – one important insider tip that can save a lot of people money on their car insurance is to pay upfront. Insurers can charge you a lot more for the privilege of spreading your costs out across the year in monthly or quarterly payments. Another benefit of paying upfront for the whole year is that you will not have to worry about any missed payments. This is a good idea if you have a lot of credit product repayments to manage every month.
• Minor Claims – try to avoid making too many small claims on your car insurance if you can. Minor incidences costing under £1,000 can soon add up on your insurance record and send your premiums soaring. You will save money overall if you pay out for small claims yourself and save your insurance for when it is really needed.
• Modifications – you must inform your insurance company of any modifications to your car. This can include something as simple as fitting alloy wheels. If you fail to report modifications to your insurer this could invalidate any claims later on. Modifications can push premiums up so think twice whether they are really necessary before you start upgrading your vehicle.
Constant calls from debt collectors can surely bring stress to anyone. When a debt has long been past its due, a creditor may hire a debt collection agency to take charge with its collection. Nevertheless, some debt collection agencies may resort to harassment or unfair debt collection practices just to force a consumer to pay. If you find yourself in the same situation, what can you do? Is it possible to get debt collectors off your back? Consider the following advice:
1. Fight for your rights. The government has set aside regulations for debt collection agencies, specifically with regards to collecting debts. These regulations are all included in the Fair Debt Collection Practices Act which can be found at the Federal Trade Commission’s website. Know your consumer rights and protect them.
2. Talk to your debt collectors. Hiding from your debt collectors would not solve anything. In fact, hiding or ignoring your debt collector’s attempts to contact you can only put you in a bad light. The best way to deal with debt is to respond to your collectors. Even if you can’t pay off your debts right away, explain to your debt collectors why you’re not able to submit your payment and try to come up with an arrangement that works. Show your collectors that you’re sincere about your obligations and that you have no intention of abandoning your debts.
3. Know who’s collecting your debts. If you creditor has assigned a debt collection agency, you should be made aware of it. A debt collection company must first send you a written document containing the status of your debts and your debt collection rights.
4. Practice your right to dispute. Are all the charges in your account accurate? Carefully examine your billing statements and receipts. If there are errors, don’t hesitate to dispute them by sending a letter of dispute to your creditor. Take note that you only have 30 days to dispute charges so make it a habit to check your bills regularly.
5. Keep records of your correspondence with your debt collector. You should keep all receipts, debt collection letters, bills and other documents for your future reference. When speaking with a debt collector over the phone, jot down the name of the person you’re speaking with and the date when the conversation took place. You can also give notice that you’ll be recording the phone call for your reference.
6. Request your debt collector to stop collecting. Yes, you can actually request to a creditor or debt collector to stop contacting you about your debts by sending a letter. Under the law, creditors and debt collectors should respect this request. Nevertheless, this does not discharge you from your responsibility to pay for your debts.
7. Let your debt collector know the best time to contact you. Let your debt collector know the best time to call you. If a debt collection agency still calls you up at inconvenient hours, you can file a complaint to your State Attorney General’s office.
Payday lenders typically dispense short term loans in small amounts, usually to consumers who need quick money for unexpected bills or emergencies. Loans of this type are usually processed in a timely manner, unlike conventional loans that often take as long as several months to finalize. For this reason, such loans are advantageous to those who need quick cash.
Numerous individuals find themselves facing financial difficulties at least once in their life. This is particularly true in today’s current economy. Fortunately, payday loans provide a certain level of stress relief to consumers who find themselves in a temporary financial crisis.
When one pursues such an arrangement, the individual is typically asked to offer a post dated check totaling the amount of the loan, including interest and processing fees. The lender then cashes the check on the appropriate day, at which time the loan is considered paid in full. Alternatively, the borrower sometimes has the option of giving the lending institution permission to withdraw repayment from his or her bank account on a specific date.
The majority of payday lenders require that the borrower produce valid identification and proof of gainful employment. Additionally, the borrower will likely be asked to show that his or her bank account is not overdrawn. In most cases, providers of payday loans do not run a credit check on the applicant.
Most people would agree that such loans are convenient; however, it is essential for borrowers to be responsible with regard to loans of any type. These fast loans should never be used to splurge on nonessential items or to bail another person out of financial difficulties.