Archive for July, 2009

Credit card debt can happen to anyone and if allowed to remain unchecked, can snowball into a real financial burden.  This is not only stressful but can also mean money wasted on interest rates and penalty fees – money that can otherwise be put to use elsewhere and for much better purposes.

If this is the situation you find yourself in credit card debt consolidation may give you back control over your finances and your freedom.  Credit card debt consolidation is the process of combining all your credit card debts into one in order to get a lower and easier payment term on all debts.  The most common ways of doing this is through a credit card balance transfer or taking out a debt consolidation loan.

A credit card balance transfer is the process of transferring the balances of all your credit cards to another credit card which offers a lower interest rate and minimum required payment. A debt consolidation loan is simply taking out a loan to pay off outstanding credit card balances.

First, determine the amount of debt to be consolidated and know the exact amount you owe.   Then, consider interest rates and payment terms in your option of choosing.  Take the time to shop around for the lowest interest rates on the market as this will have a significant impact on how soon you can get rid of the consolidated debt.  In some cases, you can also negotiate the length of time it takes for you to pay off everything. While you would want to spread out convenient payment amounts over a certain span of time, you don’t want to take too long on the process either.

It is important to stop using your credit cards while on a consolidated debt payment process so as not to rack up additional debt.  In this regard, it is helpful to also consider the stability of your income and the amount of “breathing space” you have for any unexpected expenses that might pop up while on the consolidated debt payment process. Make sure there is enough money left after making payments to take care of basic needs and perhaps the occasional treat.

After all is said and done, make sure you have learned the lesson in the process.  While credit card debt consolidation may get you back on track financially, the best policy is still to exercise self-discipline.  Tackle the problem at the source by resolving to curb overspending and to exercise better money management.

Writer: Flora

In 2003, the Fair and Accurate Credit Transactions Act (FACTA), an amendment of the Fair Credit Reporting Act, was passed in the United States, creating a central source which consumers can utilize to obtain a free credit report and rectify errors when they crop up.  Under this law, all Americans are entitled to receive a free credit report once a year from three major credit-reporting bureaus namely Equifax, Experian, and TransUnion, which all operate independently.

The free credit report is an essential financial document which provides a detailed description of your personal information and financial status.  It is a complete account of all your financial activities — from credit cards to your automobile or housing loans.  It is one of the most important tools you can have and one of the first steps to attain control of your finances.

Checking your credit report yearly is a useful practice for you to be updated of your credit condition.  It will help you keep abreast of your credit rating, past payment habits, outstanding debts, and your current credit score which will determine your credit eligibility and credibility.  Moreover, it can help you see through any alterations and aberrations in your credit score so that when anomalies are discovered, you can immediately take action to correct them.

Now, you may wonder how you can get your free credit report.  There are actually three ways to access them.  You may visit www.annualcreditreport.com, the only online source authorized by FACTA to give consumers access to annual credit reports for free.  This website is part of FACTA’s move to help combat the growing threat of identity theft and fraud.  You can also call 877-322-8228.  Lastly, you may request an Annual Credit Report Request brochure from Federal Trade Commission (FTC), fill up the form, and mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA, 30348-5281.  You will be able to get all three reports from the three major credit-reporting bureaus at one time.  However, make certain that you order them from the FACTA-authorized agency, otherwise, other sources may bill you for the credit report, unless you fit to the following criteria: When you are on welfare; are looking for a job; or your credit report had been subjected to fraudulent acts.

So, what are you waiting for?  Clear out all your financial worries!  Grab your free credit now!

Writer: Ma. Catrina Rojo

Cars decrease in value immediately after they are bought. A car that has been used a number of times is worth significantly less than its original retail value. The money that an insurance company pays out when a car is stolen, damaged, or destroyed is based on its estimate of the car’s actual value. If you are paying for a car in installments and have only paid a small fraction of the cost at the time your car is destroyed or stolen, the insurance company payout may be considerably less than your remaining balance. So, you end up without a car and with a remaining balance to pay.

Gap insurance offers a solution to this problem. The GAP in Gap Insurance means Guaranteed Auto Protection. Basically, it covers the “gap” between the amount the insurance company will give you for the loss or destruction of the car and the amount of money you still owe.

Gap insurance is a must for people who are paying for a car in small increments. They are the ones who are most likely to owe more than their car’s estimated value. It is also necessary for those who are leasing a car. In most instances, companies require a person to have Gap Insurance before they lease out a car to him or her. This is because the money that person is likely to have spent in paying for the car lease is very small compared to the car’s retail value. In the event of an accident, when the lessor will have to buy the car from the company, he will have to pay a large remaining balance.

There are companies that offer other options for Gap Insurance, depending on the policy that the customer wishes to avail of. There are policies that give the customer enough money to buy a replacement vehicle (minus the estimated market value, which will be paid by the primary insurance company).

It is important to note that Gap Insurance does not automatically come with your regular policy. They may offer it as an optional addition, but this is not always so. Not all automobile insurance companies offer Gap Insurance. If your company does not provide it, you should try checking with the company or dealership where your car was purchased from. You can have the coverage of your existing policy updated or extended, or you can purchase a separate policy.

Author: PDelmendo

Naga City – With 29 confirmed cases of swine flu in the country, City Health Officer Dr. Vito “Butch” Borja assured the public that the city is well-prepared in the event of a swine flu outbreak.

In an interview, Dr. Borja said that a previous suspected case in the city two weeks ago resulted in the activation of a contingency plan formulated for disease outbreaks. The suspected patient, a four-year old girl who had come home with her parents from San Diego, has since been cleared by the Research Institute for Tropical Medicine (RITM) in Alabang, Metro Manila.

As a result of the incident and swine flu scare, the local government allotted half a million pesos as a contingency fund in the event of an outbreak. According to Dr. Borja, the city health office purchased 20 sets of Personnel Protection Equipment (PPEs) to protect health workers in direct contact with infected patients. A portion of the fund will also be used for contact tracing to track down possible infected individuals. The remainder of the fund will be used to buy Tamiflu and Oseltamivir, which were proven to counteract Influenza A H1N1’s deadly symptoms.

However, the city health officer added that if more cases were reported and confirmed in the city, more funding will be needed to quarantine suspected patients and if needed, entire communities. The local government is obligated to provide for the necessities of quarantined patients, their families, and communities.

A medical technician from the RITM has also been detailed to the city to help monitor and manage suspected swine flu cases. In the event of another suspected case, a sealed ambulance will immediately bring the patient to the RITM facility for further testing. Ideally, the city will need a special room at the Bicol Medical Center to isolate additional Influenza A H1N1 cases, Dr. Borja quipped. But with no such room in existence, he explained that suspected patients can be housed in a quarantined tent.

There is also a contingency plan for isolating neighborhoods or entire barangays in a worse-case scenario. The AFP, PNP, and the PSO will provide security and ensure that no individuals can enter or leave a quarantined area to avoid the spread of the deadly disease. A barangay will remain in quarantine for 7 to 10 days, depending on the findings. Dr. Borja added that the first and best way to prevent a spread of the virus is through quarantine.

Barangay health workers have also been oriented on the A H1N1 virus, says Dr. Borja. He also claimed that the city has enough staff to deal with a crisis. In the event of an outbreak, drug manufacturers have assured the city that they will send the much-needed medicine in two days time.

What would make a guy fall in love? This is a question that most single women would really have in mind. Many ladies know the different ways on how to attract a guy and get his attention. It’s simple and easy. But it’s not only getting his attention, it’s also being able to keep him and make him stick around. So here are some easy steps on how to make it possible.

#1 – Give importance to friendship

Love grows better if it starts with friendship. Almost all couples started as being friends. With friendship, you get to know him personally and be able to understand his feelings and attitude better. It is much better if you get to spend more time with each other, like talking about anything under the sun, or maybe sharing each other’s thoughts and interests. You should not only identify similarities but also share to each other both of your weaknesses, too.

Always remember that in order to build a strong and lasting relationship, both of you must have that special emotional bonding as friends. And when he knows that you will always be around, then he would start falling in love with you since you are able to meet his emotional needs.

#2 – Let him value you

Your stunning looks and bubbly personality may have attracted your guy in the first place, but these are not the only things that would matter to keep him for good. You should let him admire you more by showing him the good traits that you have. He will most likely value your traits such as cleverness, caring, sweetness, thoughtfulness, your great sense of humor and also your talent.

Get to be aware of your own personal traits and show him these. But the most important thing is you don’t fake these. Be true to yourself and be honest with him. Being fake is such a turnoff for any guy.

#3 – Getting into the bed is way too soon

Most of the time, physical attraction is the first thing that draws two persons together. Yet developing an emotional bonding is the key to a stronger and lasting relationship. And before you go into a sexual relationship, it would be better to wait a little longer and develop each other’s emotional bonding first. Then, when the right moment to hit the sheets comes, for sure it will be more meaningful for both of you.

Take these simple and easy steps and you’re sure to have an answer to your question.

Parties can be stressful if you are the one organizing it. A lot of times, the hostess can find herself attending to party details up to the last minute. Usually, it is a race between getting everything arranged before the guests start trickling in.  It can get horrifying if the guests start to arrive and catch the hostess still in work clothes sans make-up while still attending to the decorations or table settings or appetizers.

The last 15 minutes before your party officially starts can be so agonizing when there is still a load of things to do. Oh, if you can only stop time! Unfortunately, that is one item in your wish list that one can never make real.  There are, however, other ways.  See these 3 stress-busting tips on how to get more organized and how to manage your precious time when you hold your next party.

1. Get a Party-Partner. Find someone who can assist you on the day of the party.  Make sure you get someone who is dependable and able to accomplish the tasks you have for the that day. See who among your family, friends, neighbors or anyone you know who can help you with the preparations. Better to pick someone who you have already worked with or who has a working style that is in synch with you. You may consider yourself an expert party host but there will always be those last-minute trips to the grocery or the florist or the bakeshop.   Having someone you can trust to do these for you will save you time and let you focus on other matters that need attention.

2. Accept Offers of Help. If anyone asks you how they may help, suggest something for them to do. A relative can bring dessert, a friend can bring wine. Your artistic buddy can oversee the decorations and that outgoing friend can take care of your ice-breaker games. More often than not, these friends and relatives will be more than happy to assist you. This will take a load off your work and also save you some of the costs, but best of all; you can use this chance to catch up with one another as you go about doing your pre-party duties.

3. Have a Make-Ahead List.  Write down your things-to-do and see which are the ones you can do ahead of time. Party favors and giveaways can be prepared and stocked days before the event. If you can set the tables and decorations the night before the party, please do so. You can also plan your menu in such a way that some foods can be done a day or more before the event. The key is to try to trim down your tasks and errands on the day of the party so you can simply relax and focus on enjoying the company of your guests and thus truly celebrate in your own party.

If you browse through the market for low interest credit cards, you will notice that there are several websites  and references where you can compare credit cards like you can compare different  cellphones or hotels. The truth is, there is more to finding low interest credit cards than just looking at the interest rate per se. Here are the factors to consider in choosing credit cards that will give you low interest.

1. Look through the Annual Percentage Rate (APR). This is the interest determined by the company for a year. For instance, a balance of $1000 per year with an APR of 10% will yield a payable amount of $1,100 at the end of the year. The lower the APR the better. Moreover, there are two types of APR: fixed and variable. The best choice so far is fixed APR. A variable APR is linked to the prime rate controlled by Federal Reserve. Once the prime rate increases, your APR will also increase. Variable APR is only favorable for low interest credit card if the prime rate is trending downward and you are able to detect such trend.

2. Maintain high level of credit score (or FICO score). If you have bad credit score, most likely, you will not get the low interest credit card that you need or your application will not be approved at all. FICO scores determines the risk of the company to provide you loan. The higher the score, the better is your chance to get low interest credit card. The scores are determined by credit bureaus when they evaluate your annual credit report.

3. Dig into the terms and conditions. Even if the APR and your credit score seemed favorable, it is best to check the terms and conditions determined by the company. You need to be watchful when the APR change. There should be a note that the company should give you notice on the changes. There may also be 0% introductory APR in most low interest credit card but you need to look at how long this introductory interest applies in one company  against others.

Now that you understand what to look into in finding low interest credit card, you should narrow down your choices where to apply. You have to apply only one company at a time as many credit applications will affect your FICO score in the long run. If you get rejected in one company for a certain reason, you can then jump to your second choice.