Loan Secrets

By guest author R. Lawrence Anderson

Finding the best credit card after bankruptcy is not that difficult, if you know where to look and what to look for. Let’s start by talking about secured and unsecured credit cards. When it comes to applying for a credit card after bankruptcy one question that a lot of people seem to have is: Should I apply for a secured credit card or unsecured credit card?

In case you don’t know the difference, a secured credit card is “secured” by a special savings account you establish with the credit card issuer which acts as collateral for your credit limit.

For example, you deposit $500 in a special savings account and then have a $500 credit limit. If you default, the credit card issuer simply takes the money in your special savings account.

Unsecured credit cards are just that - unsecured. Meaning the person fills out a credit application and, based on their credit report, income, etc. are approved for a certain credit limit. Of course, they could also be declined depending on the credit card issuer’s guidelines.But be careful. Not all secured cards are created equal. And to make matters worse, there are tons of banks out there pushing secured credit cards!

So how do you find the best credit card after bankruptcy? Come up with a list of criteria that the secured card needs to meet in order for you to consider it. When I’m researching secured cards, I apply eight criteria. Not many meet these criteria so I’m able to narrow down the choices quickly.

What are the some of the eight criteria? For example, a low interest rate is important. While researching some secured credit cards I ran across one with an interest rate of 23.99% and another with an interest rate of only 9.25%.

This is just one of the criteria I use to find the best credit card after bankruptcy - and look at the potential savings! Over several years you could save hundreds or even thousands of dollars in interest depending on the balance you maintain.

Okay, here’s another criteria: application fees. Again, I found some secured credit cards that have no application fees and one that had a… are you ready for this… $120 application fee! Sadly, people have paid it!

Let me give you one more criteria you can use to find the best credit card after bankruptcy: You want to make sure the secured card issuer reports to all three credit bureaus. But you also want to make sure they report it a certain way.

I don’t have room here for all eight criteria, but hopefully this gives you an idea of some of the things you need to look at when it comes to finding the best credit card after bankruptcy.

By the way, don’t apply for too many credit cards at once. If you do, it can hurt your credit score. That’s why if you’re uncertain as to whether or not you’d be approved for an unsecured credit card it may be better to apply for a secured credit card.

Now you know some steps you can take toward finding the best credit card after bankruptcy!

About the author

R. Lawrence Anderson is author of After Bankruptcy Credit Solutions, which shows individuals how to qualify for credit and loans after bankruptcy. For details visit: http://www.bankruptcy-credit-solutions.com

Bob Roscoe, Mortgage Marketing Associates, Minneapolis, Minnesota

How to Dispute Your Credit Report

By Guest Author Adam Smith

Managing an investment property can be rewarding in a variety of ways. Most investment property owners derive great satisfaction from making improvements to their investment property and offering suitable living conditions at an affordable price. It is also rewarding to make a profit on a business venture by renting out a single family dwelling and earning equity in the investment property as someone else foots the mortgage payment.

However, there is one particular drawback to renting out an investment property that you should be aware of. From time to time you may run in to a problem tenant that falls behind on the payments or just doesn’t pay the rent at all, forcing you to perform an eviction. There are a couple of things you can do to avoid an eviction.

To begin with, before you rent out the property to a potential tenant make sure you do your due diligence on the tenant. You should ask the tenant to fill out an application that includes references of past landlords. This will allow you to do a little bit of investigative work which will go a long way in avoiding an eviction. Call up the past landlords and find out what kind of tenant your applicant was. Did they pay their rent on time? If they were late with their payment, why? Did they cause any problems? Are they the kind of tenant they would welcome back?

Past history often foreshadows future behavior. Thus if the tenant was an admirable renter before then chances are they won’t cause you any problems. But if they have a history of late payments, excessive complaints, or problematic behavior then it is best you look for another tenant. Taking on a tenant that has caused problems for other landlords in the past will only lead you down the road to eviction. And remember you are doing this due diligence in order to avoid the headache of eviction so make sure you are thorough and don’t skip any corners.

If you have done your due diligence then chances are you won’t run into any problems with your new tenant. However, once you do have a tenant there are a couple of things you can do to ensure there isn’t an eviction in the foreseeable future. First set clear guidelines that are clearly outlined in the lease agreement . Make sure the tenant knows when the rent is due, how long the grace period is, and what the penalty is for paying late. Don’t let the tenant get into the habit of paying late. If you don’t enforce your contract now it will be that much harder to enforce it later. The lease agreement is a binding contract and should be treated as such.

You should also treat your tenant with respect and respond to their repair requests in a timely manner. If you maintain a professional relationship with your tenant then many small problems that could potentially lead to larger problems can be squashed immediately. If you do your best to manage the investment property professionally and abide by the terms of the lease agreement then avoiding the unpleasant eviction process should be a piece of cake.

Adam Smith is an internet marketer specializing in affiliate program management for 10Xmarketing.com.

About the Author

Adam Smith,
adam10xmarketing@gmail.com
More Details about eviction here. Adam Smith is an client account specialist with http://www.10xMarketing.com - More Visitors. More Buyers. More Revenue.

Bob Roscoe, Mortgage Marketing Associates, Minneapolis, Minnesota
Home Buying Secrets