Wondering what’s keeping you from landing that dream apartment you’ve had your eye on all this time?  It could be your credit history.

What went wrong?

Maybe you have student loans that were defaulted, a collection or two in your history, or are just in need of credit repair in general.  Whatever the reason, you need to improve your credit score fast to get that apartment you need.  Here’s how:

Tell them how you feel

Getting that right apartment may seem out of reach when you need credit restoration, but all hope isn’t quite lost.  If you already know your credit report isn’t in good shape, you might try being upfront about your situation.  After all, they do say honesty is the best policy.

If you let the manager know that your report isn’t in the best condition and you’re currently undergoing credit repair, they might be more inclined to give you a second look, so long as you don’t have a lot of outstanding debts to other parties.

Cash upfront

If your pleas of seeking credit restoration prove fruitless, consider renting from a private owner.  They’ll usually be more than happy to overlook your past misdeeds if you’ve got the cash in hand for a new apartment.

Try finding a co-signer

If your efforts at credit repair don’t impress the right people, you can try getting a co-signer for your apartment.  This can prove difficult, as anyone who co-signs a loan with you will be just as financially responsible for the property, but it might be the only way to get into your new home.

Start repairing your credit now

You can make your journey to a new apartment that much easier by paying off any outstanding debts that could show up and damage your chances of renting.  Consider opening a secured credit card to start building new, positive lines of credit to help you improve your bad credit score.  If you still need helping building up your credit history, consider using a debt relief or credit repair agency to bolster your chances of successfully obtaining your new apartment.

The 1^st of October 2012 is the official start date of the auto-enrolment pension scheme in the UK. However, many Brits are still unaware of what the main benefits of the scheme are and or whether or not they should opt into it.

What is the auto-enrolment scheme?

Currently most workers don’t make an application to join their employers scheme and therefore miss valuable pension benefits. To redress this situation, the auto-enrolment scheme aims to allow employees to be automatically enrolled into their employers qualifying pension scheme. 

How will the auto-enrolment scheme work?

From October, British employers will be able to choose the qualifying scheme they use. Ea

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Our credit scores are important things. They’re the basis on which lenders decide whether or not to extend credit to you, whether that’s for something as small as a new mobile phone or catalogue account or as large as a mortgage.

Without a good credit score, you may be denied everything from a credit card to a car loan, or at the very least, be charged far more for being a risky lender. So it makes sense to ensure that your credit score is in the best shape it can be. To check, get a copy of your credit report and read it carefully.

You can buy a copy of your credit report online for just a few pounds from agencies such as Experian and Equifax. Once you have it, you can assess it and look for ways to improve it if your credit history is poor. There’s a range of things that will damage your score, some of which are quite surprising.

Late payments form an important part of your payment history. If you’re consistently late, your score will be damaged. Non-pay

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Banks and financial institutions do not loan money to be generous. They make loans because they can make money by charging interest. Interest rates can range from one or two percent up to 36 percent. The rate of interest that you will have to pay depends on the institution you borrow from, what the money is used for and your personal credit history.

Secured and Unsecured Loans

The interest rate is based partly on the risk involved with any loan. Secured loans are tied to an asset of some kind. If the loan payments are not made on a regular basis, the asset can be repossessed. This includes mortgages, car loans and any other loan where something of value is offered as collateral. Unsecured loans are not backed by any type of collateral. These loans carry higher interest rates because the bank does not have an asset that they can take possession of and sell to recoup their money.

Institutions

Credit unions typically offer the best rates, partly because they have a very limited and select clientele. Read more…