Five reasons why you could be refused credit November 25, 2008
Posted by Pat in : nothing in particular , add a commentBeing turned down for a credit card or a loan can come as a bit of a shock, especially as banks and credit cards have been slated recently for irresponsible lending and really pushing loans on everyone. However, as the credit crunch tightens its grip, banks are beginning to get a bit more fussy about whom they lend to, keeping the best deals for those that have exemplary credit records.
So what happens when you apply for a loan or credit card? Well, the lender will apply the details from your application to their credit scoring process, mix that with the information that they get from your credit file and calculate a credit score for you. If you attain a certain pre-determined score, you will get the loan. Each lender calculates the score differently, but the following five reasons as to why someone is turned down are common amongst all lenders.
You have no previous credit history as you have never borrowed before
This may seem a bit strange, but if you have never borrowed before, you will have no track record for paying back debts. Lenders would prefer a borrower to have a history of debts that they have repaid diligently. If you have no credit history, they have no idea how you will repay a debt in the future. Because of this, you will be marked down on their credit score, as they have no evidence that you can manage credit well.
If this is the case, try to build up some history by putting a small amount of money on a product that is easy to obtain, such as a store card, and make sure you pay it off regularly and on time. However, if your circumstances mean that you have had no previous need for credit - you may have paid off your mortgage years ago - then explain this to the lender.
You don’t fit the lender’s profile
As mentioned above, you don’t have a single credit score - different lenders will use different ways to work out their scores. Some lenders may target a specific group of borrowers and you may not fit their profile at that particular time. For example, they may want a particular age bracket or demographic group.
Too many previous searches on your credit report
Whenever you apply to a lender for credit, the lender will do a search on your credit report. This leaves a ‘footprint’ on your credit file. Therefore, if you apply for credit from several lenders in a short space of time, it may appear you are building up too much debt, even though you aren’t actually taking out the loans. Future lenders could interpret this as meaning that you are desperate for cash, overburdened with debt and even a fraudster using another person’s identity to build up credit.
A good way to overcome this is to apply through a loan broker. They will have access to a variety of lenders and will be able to access all the cheap loans on offer from them, saving you time and hassle. They will also be able to evaluate your credit worthiness with just one search and then put in touch with the lender most suited to fund your requirements.
You have had financial difficulties in the past
Missed credit repayments stay on your record for three years, so while you may be financially fit today, lenders may take a dim view of your past. If you have had serious financial difficulties and have a County Court Judgment against your name, that will be held on file for six years, while bankruptcy restrictions can remain on your file for up to 15 years.
Credit reference agencies do allow consumers to add an explanation of circumstances to missed payments in their report. For example, you may have lost your job, or you were going through a divorce or had an illness that affected your ability to pay.
You are not on the electoral roll
This is one of the most common, and easily remedied, reasons why people are turned down for credit. Lenders use the electoral register to check you are who you say you are and that you live where you say you live.
For anyone not on the roll, the solution is simple - register at once and ensure that you have been taken off the electoral roll at any previous address.
You can get your free credit report here.
Visit www.allaboutloans.co.uk for cheap loans from an understanding broker.
How to delay biological aging ? November 25, 2008
Posted by Pat in : nothing in particular , add a commentAge and death are inevitable, but some people don’t think that way. In any case, it is people who have been able to think differently that have been able to effect the greatest changes in human and scientific development since the inception of man. Perhaps it is why anti aging might eventually be much of a success after all. So, regardless of your age, a good anti aging formula that works is to continue to “think” and “feel” like a young person. You will be amazed at how this will work to make you “look” younger with Anti aging skin care
The effects of aging on the human body are admittedly not flattering. Once you cross the fifty year mark, all the previous attempts you have casually made to hide the years suddenly are not working anymore. The lines begin to show, the sweats are now unstoppable, and you can feel the aches advancing in your joints. That is when you need anti aging.
For most people, the biggest problem with life on earth is that it ends. How wonderful would it be if you could live forever? How sweet, if you had all the time in the world to right your wrongs and teach the next generation? How wonderful, if all the anti aging programs you had on actually worked to completely reverse aging? This is why so many people have devoted so much of their lives to making this happen, and they continue to try despite some challenging failures. For such people I would say - Go right on. Someday, soon, we would have achieved an incredible progress in anti aging that was seen as impossible many years ago.
I was shocked one day when my wife suddenly went on a tirade about growing old, losing her teeth, and her breasts sagging. I had never thought that was such a big deal. I actually even looked forward to the time when my grandkids would gather around me and I would tell them stories of when I was a gallant young man. But of course, not everyone wants the same thing.
You should make a habit of exercising daily, whatever you are into. Anti aging processes work better on your body - and on your mind - if you are in state of wellbeing, both physically and mentally. Even your doctor will advise it.There are many new Anti Aging Discoveries.
The work done by Andrew Weil in the field of general medicine and particularly for anti aging cannot be denied. This is in spite of the fact that the center focuses on herbal and alternative medicine that has been much shunned and neglected in the past. How the tables turn!
A lot of the practices that have been attempted back in the day in an attempt to cure old age are now being brought back into mainstream medical practice. All over the United States today, there are institutes and academies devoted to the study of life extension and anti aging. Some use contemporary technology while others use what you would consider to be more archaic approaches.
Anti Aging is an age related phenomenon. An inevitable one that is bound to come on us all… if we even grow to get that far. The best sources of information are not just the experts that carry out analyses on old people, but the old people themselves. You might learn that aging is not such a bad thing, and you have no reason to want to really prolong your life.
Disclaimer
You should consult with your physician before taking any medical advice.