The positive side of credit reporting

If you are over 18 and have ever applied for any form of credit then you have a credit record. This can occur seamlessly and without you realizing it. Your credit record may be of little interest to you until you decide to apply for some form of finance. Worse still, you may be in the …

The wisdom of being Frugal

We have come to think that being Frugal is the domain of little old ladies who have led a hard life and have simply gotten used to making a dollar go a very long way. However in today’s challenging economic environment, being Frugal is the answer to financial uncertainty and instability. It is not uncommon …

A loan guarantor will not solve all borrowing problems

It is true that often borrowers are able to breach the gap between their borrowing needs and the loan qualification criteria of lenders, by using a loan guarantor. However guarantors can only be helpful in some borrowing situations, while in others they can either add nothing to a transaction, or perhaps not even be allowed to …

Understanding the basics of borrowing

Like it or not DEBT is a four letter word. We all borrow but some of us do it better than others. Before deciding to apply for any form of credit you really should stop and ask yourself the following questions. The answers to these will help you distinguish between essential debt and debt which is …

To fix or not to fix – that is the question !

Home buyers are very confused, and who could blame them? While the RBA seems to stick with a strategy to keep interest rates low in order to  help the Australian economy find its feet, the banks have commenced rate increases of their own. These increases are no longer aimed at discouraging excessive speculation in the Australian …

Credit repair is not what it seems to be

Given the intense regulation of all financial product marketing in Australia I continue to be surprised at what “is allowed” when it comes to promoting credit repair services. Advertisements promise to wash away your bad credit, creating the impression that all you need is to take up the offered service and your bad credit will be …

Borrowing while in a debt agreement

We regularly hear from people who are in an undischarged debt agreement and would like to gain access to some unsecured finance. Although a debt agreement goes a long way in assisting individuals to bring under control unaffordable unsecured debts, it can prevent you from being able to qualify for any finance before the agreement …

Bad credit vs Repayment history indicators

It will not come as a surprise to any reader that borrowers with a history of bad credit may have a difficult time qualifying for any form of finance and may have to pay a higher rate of interest should they find a lendr who is prepared to approve their loan application. In March 2014 …

Using a personal loan to consolidate debts

A personal loan can and often is used by individuals with various more expensive unsecured debts, to bring these debts together into a single loan facility. The idea behind debt consolidation using a personal loan is to reduce the high interest cost charged on the existing debt facilities in order to make it cheaper and …