So you have a bad credit history and a low credit score, ok, so what can you do to patch it up and make it better?
If your credit score is low you may find that getting a loan in the future could be problematic so here is some quick tips that will go a long way to helping you to re-establish a better credit score.
Many people have asked me two keys questions: What is a credit report and what information is held on there, well let’s get straight to the point. Your credit score is extremely important and can change based on what you have done in the past and what you do now, it gives lenders a snapshot of how a reliable person you are if they approved a loan or credit card.
There are currently three companies who use information to compile a file on you and your financial history that will be used by companies when you apply for credit. These are Experian, Call Credit and Equifax. Your credit report will contain a wealth of information on your past financial history and give you a credit score that lenders use to identify if you are a reliable borrower. But what does your credit report actually contain about you?
Next to buying a new home or getting married and having children, getting a car falls into the top few things that will slim line your wallet. As a driver you will probably be more than aware of the costs of running your car each year and many new drivers now face the prospect of putting aside some of their hard earned cash to pay towards the upkeep and day to day costs of having a car.
The costs of fuel whether petrol or diesel does fluctuate each year and adds to your yearly car cost budget. The costs of having a car can be divided into two groups – the flat charges such as insurance, MOT’s and Road Tax and then there is running costs such as fuel which are the actual costs of having a car.
Hang on to your money and save your wallet from premature slim lining with our top 12 tips for getting cheaper car insurance. Saving money is always top of our agenda and if there is a way to save money then it’s got to be worth a try.
Is it just me or does anyone else agrees that whenever there is a sale sign in shops them men’s clothing doesn’t seem to appear on the sale rail?
A visit to a big retail chain nearby, enticed by the huge banner outside declaring a ‘sale’ sign added to my motivation to go into the shop and brave the weekend shopping frenzy. A quick glance around and I spot the sale area where to my amazement I see five lines of rails which reduced clothing. Hurrah I think to myself, why not shop and save, after all I need to add to my winter wardrobe and give the contents of it a spruce up.
The Ministry of Justice (MOJ) has announced new changes to how Insurers handle whiplash claims in a bid to crack down on the number of bogus claims that cost all UK drivers hundreds of pounds a year each. Has the UK’s compensation culture taken a step too far? Yes according to the Government who aims to make pay outs harder to get and are set to whip insurance companies into shape on what they call a ‘epidemic’ of fake whiplash claims. The majority of the problem is the hundreds of ‘compensation’ companies offering to take on the claims of drivers who have recently been in an accident but whilst they are fighting for compo pay outs for those who need it could they also be adding to the ‘where’s there’s a blame, there’s a claim’ ideal that has swamped the UK.
I’m a woman doing the same job as my male counterpart but am I getting the same pay? Many women argue that even today this is still not the case despite the Governments promises to make pay equal between the sexes.
There still seems to be a pay gap of up 20% with women having to work until March to get the same amount of pay a man gets in January in some cases in the UK. The Women’s Equality Part (WE) has been fighting on behalf of all women for years and has in part been successful in reducing this pay issue however has it been as successful as it could be we ask? With 45 years of shouting out and making as much noise on this issue as possible it is still a problem in a country that you would think is westernized enough to register that this is just not fair. The Government has issued a mandatory league table to identify which of our companies has addressed the pay divide that has been in the limelight with the Equal Pay Act since its birth the 1970’s although this data may not become publically available until 2018.
Do I need a private pension? Well yes, many believe you should if you want to retire at an age you want to plan for and get an income high enough for you to live comfortably and enjoy your retirement years, after all, you’ve worked long and hard for it so why not put plans into place to get the money you want to have in your ‘party years’.
Many have opted for a workplace pension with new guidelines in place by the Government so get employers to sign up to looking after their employees when it comes to retirement but if you haven’t got a workplace pension then you seriously need to think about a private pension instead. You’ll still get your State pension but having a private pension or workplace pension in place allows you to top up what you will get.
Ahhh! You thought you had your state pension sussed only to find there has been yet again another change to the rules and this one could affect millions with many facing losing out. Lots of people may find that they won’t get the full flat rate £155 they expected. The Governments new changes which came into effect April 2016 looked set to give anyone who retires and who has paid the full National Insurance Contribution would get the new flat rate amount. In reality this appears to be a rather puzzling and complex conundrum that many can’t get their head around and could end up getting much less than what they first thought.
Hurrah for the Governments new marriage boon, there’s now more reason why getting spliced can net you a tidy sum with a £432 Tax break! This change is the Governments way of rewarding married couple who work. Think of it as a wedding gift from them to you.
So this is how it goes – If you are married or in a Civil Partnership, one of you earns less than £11’000 (yes, that also means if you earn diddly squat) and the other one earns between £11’000 and £43’000 then you can claim Marriage Allowance. This Allowance lets you transfer your personal allowance i.e. how much Tax you have to pay on your earnings to your partner of they earn more than you which in turn reduced their Tax bill by up to £220 a year (April 6th to April 5th the following year). This new change even lets you do this if you live abroad or receiving a State Pension!