Rate Your Chances Of Obtaining Credit

A good credit rating is essential if you want to borrow money.If you have been bankrupt or have County Court judgments against you, or have defaulted on payments in the past, you will find it more difficult to obtain credit.

If you are in that situation you would probably have to go through the sub-prime market where you would be charged very high rates of interest as a high-risk borrower.Experian and Equifax are the two main credit reference agencies used by lenders to research your credit status.

They check that your details are correct on the electoral register, whether you have any County Court judgments against you, and generally how diligently you have paid your debts in the past.They can track your 'electronic footprints' every time you have applied for or opened a new form of credit.

These companies inform the lenders of their findings, often using a scoring system, but the lenders are the ones who make the decision whether you are fit for credit or not.If you are turned down for credit the lender must give you an explanation for their decision.You are entitled under the Data Protection Act to see the report on your credit application.

There may have been errors which you could rectify, or if it is just plain poor you can see where you need to make some improvements.

This may not be a quick fix as bankruptcy details remain on your credit rating for up to six years, but generally speaking you should be able to improve your rating after about a year of good financial practice.
The first thing to do is to check that your details are correct on the electoral role and that you don't make any mistakes when filling out credit application forms.Also check there aren't any other mistakes on the file, like other people's debts.

Pay your creditors on time.Tell them if you can't meet a deadline for payment and catch up the next month.The reference agencies will send you your credit history for around two pounds.If you see there was an old County Court judgment against you or any other debt which was settled but is still shown as outstanding on your records, you can have it amended.Also, if you can justify a period of poor payments in your history, they will put a 'note of correction' in their report to explain the reason.

The score the agencies give you doesn't tell you much on its own.Equifax rates range from below 299 being very poor to above 475 which is excellent.To get a better picture you need to pay around 12 pounds for a detailed report listing all your credit agreements.One way to demonstrate good financial practice is to take out store cards and pay them off regularly.

This will create a good history, but make sure you do pay them off or you will find yourself with high interest on top.

If a best mate would co-sign for a credit card or loan with you that might help to get your name cleared.All the same, you should cancel any credit cards you don't need.If you have been refused by one lender don't keep on applying randomly until you check that you are the sort of person a lender will accept.

Remember, every time you make an application it shows up on your credit history and multiple applications can look dodgy.

It's crazy, but you can also be rejected for credit if you have never before applied.If you have never had credit, a potential lender can't see any history showing that you would be credit-worthy.

About the Author

Loan Agreement.

co.uk is a specialist in Personal loans, offering fantastic deals and truly impressive information surrounding Personal finance and other great products.Our sister site Brokers Online offers cutting edge articles and information about Personal loans and other financial products.

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Want Private Money For Real Estate? Know The 5 Key Secrets

Private money is the Holy Grail for Real Estate Investors in these challenging economic times.With banks stiffening credit guidelines and limiting their loans to only 70% to 80% of the property's purchase price, private money lenders are needed to fill the gap.

And even for the subject to investors, they may get a "free house", but the funding for rehab, minor fix up, holding costs (while trying to get a buyer or tenant), etc.demands private money, unless they want to rapidly deplete their own bank accounts-and that's not a sustainable business model

As for rehabbers, it used to be that they could tap in hard money private loans for 60-70% LTV from hard money lenders.

Now, even hard money lenders are looking more closely at credit, and the real estate investor had better have private lender funds for back up, in case he goes over budget or needs money for interest payments.

There is clearly enormous wealth-building potential with real estate investors able to pick up properties for $0.20 to $0.50 on the dollar from desperate homeowner and lending institutions needing to unload hundreds or thousands of REO's.All one needs is the money!

So, how can we find these private investors?And more importantly, how does one convince these potential private investors to make a private investment of $10,000's or $100,000's in your real estate project?

Now, if you want to raise a lot of private money, you have to be speaking to High Net Worth individuals with $millions in assets and the desire to invest it in a new venture.Whether these people are friends and family or whether they are accredited investors or Angel investors that you may not know, they share some common attitudes about money and investing.

So, if one understands the private investor's attitudes, and can enter that conversation, the only thing left to do is to ask for the check and start putting that private investment to work.

There are 5 Key Secrets the real estate investor needs to learn and understand, if he or she wants to be successful in borrowing private money for real estate.My colleague Bob, uses these secrets to buy nice homes in bulk (10 at a time), and turn them over for 6 figure profits.Simply put, without utilizing these 5 key secrets, no catchy phrase or elevator speech is going to bring the desired success.

Remember, private lenders are not motivated like homeowner about to lose their house.Nothing bad happens if the private lender doesn't invest his money.

So here are the 5 key secrets:

1) WIIFM
2) The 2 ROI's
3) Risk-Reward
4) Credibility
5) Trust

Here's what they mean:

WIIFM stands for "What's In It For Me?

" A private money lender is going to expect an extraordinary return on his/her investment compared to their other options.And the story, to put it bluntly must excite the private investor's "greed glands".

The 2 ROI's: As Will Rogers once said, "I am much more concerned with the Return OF my Investment, than I am the Return ON my investment.The private lender needs to have confidence in your exit strategy that will get his money back when promised.

Risk-Reward: Private Lenders of money got to be wealthy by being very careful about the amount of risk they would accept for any investment.So, unless you structure your private offering so that the risk is acceptably low relative to the reward, your chances of getting the money will be slim.

Credibility - this is a stumbling block for many real estate investors as they struggle to answer the private money lender's question: "why should I invest in you?" And here is the great secret: It's not about you, it's about your business!Learn how to structure your business so that it brings you credibility even if you have little real estate experience.

Trust - Ultimately, if you want that private money, your private lender must feel that you can be trusted to do what you say.With friends and family, one may have a head start on this.With private money lenders who have a more distant relationship, you must invest the time into building that trust.

About the Author

We help real estate investors find Private Money

Lenders to fund million dollar private mortgage investments in their real estate deals (in business 10 years).

Go To www.InvestorWealth.com

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How To Work Online As A Freelance Writer

Writers are one of the most in-demand online jobs you can find.After all, someone has to write all the billions of words that appear throughout cyberspace.If you have a natural ability to write, a good command of the language, proper grammar and can follow style requests, then you might consider becoming a freelance writer.

One of the great perks of being a freelance writer is working from home.With email and instant messaging, writers no longer have to commute to an office for a face-to-face meeting with their clients.Important details can still be explained over modems instead.Some people might think that writers are simply people who type away at their computer all day.Sure, that's true to a certain extent but don't forget the creative process involved in formulating just the perfect content for all those website owners.

Another convenient perk of the freelance writer is the ability to have total control over their workload.Writers can accept or decline assignments as they please.If they don't agree with the subject matter or they're planning a vacation, they can simply say "no." Freelance writers can also set flexible hours which is helpful if their client is in another time zone.Writing in the dead of night while the family sleeps is preferable to many writers who long for a silent place to work.

How Much Work is Available?

Granted, not every website owner will have the budget to hire a writer.Same holds true if a writer sets their prices too high; not everyone can afford to use their services.

But let's think instead of all the types of content writers create for an online business owner:

1.

Website Copy - there are millions of websites in cyberspace, maybe even billions.All those websites have copy written to explain the purpose of the website.

2.Product Descriptions - every online store that sells products needs compelling product descriptions that are not only accurate but makes the shopper want to buy the item immediately.

3.Sales Pages - if an online business owner has a digital product to sell, chances are they have an online sales page promoting all the great benefits of their product.These are often rather long and tout all the reasons why the shopper should buy it NOW.

4.Blog Posts - blogs are more casual and personal websites where you can post your inner most thoughts or new information about your business.Blogging platforms have become very user friendly which makes it easy to post content but many business owners just don't have the time.Freelance writers will often ghostwrite these blog posts, which simply means the writer does the work but attributes the work to their client.

5.Article Writing - very similar to blog posts, articles are important pieces of a website's content.Some online business owners also do article marketing, which simply means writing an article for use on another website.Again, very few business owners have time for writing the actual article so they will hire a ghostwriter.

The list of written content for website owners could go on and on.With so much competition online, good writers are in high demand and they can often name their own price.Add to that the ability to work from home and picking and choosing assignments, freelance writing is a great work at home job opportunity.

About the Author

Chris Simpson is dedicated to helping people find honest and legitimate work at home opportunities and home based business ideas.

Find legitimate work at home jobs and many other great opportunities to make money online today at: www.HomeNetPro.com

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What Is the Best Way to Clean Designer Eyeglasses?

Glasses are not cheap, and when you purchase designer glasses they really cost quite a bit of money.If you are willing to spend the money on designer frames and lenses, then you likely want to know how to keep them as clean as possible.Cleaning glasses is not difficult, but if you do it incorrectly, you can damage your investment, creating scratches and ruining the finish on the frames.

Talk to Your Optometrist

The first thing you need to do in order to learn the best possible way to clean your glasses is to talk to your optometrist.

If your glasses are coated in any way, you may be advised to avoid certain chemicals or types of cloth when you clean your glasses.For instance, if you have glare cutting coating on your glasses, cleaning them with a napkin or paper towel may scratch the coating.Be sure to follow all instructions given to you by your optometrist to keep your glasses in good shape.

Over the Counter Wipes

One of the most annoying things about glasses is that occasional smudge that is directly in your line of sight on your glasses.

One way to be sure that you can always safely take care of this problem is carrying over the counter lens cleaning wipes.These are pretreated wipes that are safe to use on most lenses.You can simply pull out a wipe, swipe your glasses, and eliminate that smudge!

Thoroughly Cleaning Glasses

While wipes work well for touch ups, you are going to want to thoroughly clean your glasses from time to time, especially if they have nose pads, which tend to gather dirt and grime behind them.

For most pairs of glasses you can wash them with a nonabrasive soap and warm water.Make sure you use clean hands and mild detergent as you wash your glasses.However, do not use a lot of pressure on your lenses, as this could scratch them or cause them to pop out of the frames.Rinse them off, and then dry them with a soft, lint-free cloth.

Sometimes dirt will build up under the nose pads.When this happens, use a soft bristled toothbrush to get into the crevices.As much as possible, keep the bristles away from the lenses, as this can leave scratches on them.

Do not forget to clean the frames, including the earpieces, when you clean your glasses.The earpieces are in contact with your skin at all times, so they build up sweat, dirt, and oil over the years as you wear your glasses.When you thoroughly wash your glasses, make sure the earpieces get a good cleaning as well.

Always Use Something Wet

Many people will take a rag or paper towel and wipe their glasses when they are dry to get a speck of dirt or some oil off.

Never do this.Always use water and soap or a glass cleaner when cleaning your glasses.Even the softest cloth can cause scratches or other marks on your glasses.Also, when you do clean your glasses, use a glasses safe cleaning cloth.The towels you use for your bath are not safe, and if you use fabric softener in your laundry, it will leave streaks on your lenses.

The Best Routine

You do not need to thoroughly clean your designer glasses every single day.

You will probably find that a thorough washing once a week, followed by a daily routine of wiping them with the lens cleaning cloths when they need to be cleaned, is sufficient to keep your glasses as clean as you want them to be.

About the Author

Premiere online retailer of contact lenses Australia and designer glasses.

Offers special effects lenses,colored lenses and Acuvue contacts.

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Important Action Items for Your Employee Benefit Plan

The current financial crisis has caused some older workers to postpone retirement due to a drop in the value of their retirement accounts.It has also led to renewed compliance scrutiny.Additionally, a recent Supreme Court case (LaRue vs.DeWolff Boberg and Associates, February 21, 2008) ruled that companies can be held liable if employees lose money in their 401(k) due to negligence.Because of the explosion of 401(k) plans throughout the United States, the consequences of this legal action are potentially far-reaching.

Beware delays.

1.If implementing investment instructions is delegated to a third-party service provider, you need to understand the provider's system for implementing the participant's investment selections accurately and timely.With the increase in paperless transactions, this becomes extremely important.The service provider should notify the participant immediately of all changes in investment selections.
2.The Department of Labor is stepping up enforcement of timely remittance of employee contributions.The law requires employers to separate employee 401(k) contributions from their general assets as soon as practicable, but in no event more than 15 business days after the end of the month in which amounts are contributed or withheld from wages.For small plans, generally plans with less than 100 participants, employee withholding for retirement plans are due within 7 business days.
3.Employers might be tempted, either because of administrative convenience or cash flow needs, to delay contributions.But, in addition to the legal requirement, there is also the risk of harm to the participant's investments.If the contributions are delinquent, these contributions are not being invested timely.With the potential of significant market changes every day, this could cause investment gains or losses.If a loss occurs as a result of delay, it may give rise to lawsuits or, at a minimum, the need to make the participant whole.

Other Items to Consider.
1.For plans which participants have to Opt-In (participants choose to be in or not) update participants' selection annually including those participants which choose not to contribute.
2.For plans which participants have to Opt-Out (participants are automatically in and pay is withheld for 401(k) deferrals unless participant Opts-Out,) make sure you retain completed Opt-Out forms to retain evidence of participants' choice.
3.For Opt-In plans, consider an Opt-Out plan.The government is encouraging plans to become Opt-Out plans by reducing some administrative tests.
4.Given current market conditions consider having a financial planner give a seminar to update participants on their portfolios.
5.Not-for-Profit organizations with 403(b) plans will be subject to filing Form 5500 and are required to have an audit if their plan has 100 or more participants effective for 2009.
6.Check for unused forfeitures and discuss with your tax professional how these can be used such as offsetting matching contribution, profit sharing contribution, pay for administrative fees, etc.
7.Avoid having to make time consuming corrections due to errors in accumulating participant criteria for Benefit Plans.
8.Avoid penalties on plans which are subject to corrective distributions based on excess contributions.Plans need to complete their HC testing and compute and pay the corrective distributions within 2 months of the plan's year end to avoid a 10% penalty.
9.For terminated employees that have less than $5,000 in your plan, consider distributing their funds to them to lower the plan's administrative costs.
10.Prepare census and compliance testing timely.
11.Update files with signed designation of beneficiary annually.
12.For plans with multiple ending dates, review for proper inclusion of new participants.
13.Review computations with matching contributions for correctness.
14.Prepare timely all required Forms 1099R/1096 and Form 945 and remittance of taxes withheld.

Determine Your Audit Need
An audit can provide the documentation that you need to prove compliance with applicable rules and regulations.

1.Companies with 100 or more eligible participants at the beginning of a plan year must have an audit to form an opinion that the financial statements of the plan are presented fairly (ERISA Section 103.) The audit is included with Form 5500 filings.Note the word "eligible" is the key, not participants in the Plan.

Plans with fewer than 100 eligible participants at the beginning of the plan year are considered a small plan for filing purposes.Audited financial statements are generally not required for a small plan filing if specific requirements are met under the small pension plan security regulation.

Types of plans that may require an audit include:
Multi-employer
401(k)
Profit sharing
Health and welfare/VEBA

2.

Make sure that your auditor has experience with 401(k) plans.This is a specialized field.Knowledge of the Department of Labor's requirements is a must.Prohibited transactions, supplemental schedules, and certain footnote disclosures are unique to 401(k) plans.The more an auditor understands the 401(k) field, the more effective that audit will be.

3.Provide the auditor copies of all agreements with third-party service providers.If the plan has reviewed the internal control structure of a service provider, that review should also be provided.In any event, the auditor will need to satisfy himself of the internal control structure of the 401(k) plan and the provider's portions of the plan.This work should be performed before the audit.

4.Finally, before the audit, you should either provide or make sure your auditor has obtained all information and documentation requested.Contracts, investment statements, and participants' files are some of the more common requests.If your auditor does not prepare your 5500 form, they must review it.

Quality audits are very important to the 401(k) plan and your participants' best interests.Take steps now to ensure that you are in compliance!

About the Author

Contact: Leslie Flinn, Director of Marketing, Warady & Davis LLP, Certified Public Accountants & Consultants, one of the top 25

CPA & consulting firms in the Chicago area specializing in employee benefit plan audits.

Contact: Leslie Flinn, 847-267-9600, lflinn@waradydavis.com,

http://www.
waradydavis.com

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Understanding Financial Crises And Global Capital Flows!

During the recent economic downturn that paralyzed business, financial institutions, both national and international emerged as saviors.Though the imminent scare seemed to have ebbed, there are enough warning signs to worry about a sequel of the monster.

What one needs to understand from this particular situation is the need to differentiate between short term and long term capital inflows.Whereas short-term capital inflows can be lucrative, they can also be terribly unstable and dangerous.They cause the most damage.They are totally based on assumptions, which are not exactly the right way to go about things especially in matters of finance.Naturally, when things go wrong it goes wrong big time and you can have everything folding up before you even know it.The hot money is just gravy and can be used as just a support to drive the deals, but shouldn't be projected as the top priority.

When the bubble bursts everybody points fingers at everybody.If you analyze things it is quite evident who or rather what is to blame.The lax attitude of the governments over the organizations that show almost no transparency; their attitude of going out of the way to protect them, choosing favorites, the companies, which do not adhere to any corporate governance form.These are the main reasons when any financial bubble bursts.

The financial institutions too can do better.Most of them are politically aligned and they have their own in house troubles.If they are busy fighting their own demons then how would they help in solving the problem of financial crises is anybody's guess.The international financial institutions should understand that the countries who come to them for money are not nuisance causing pests.It is this very attitude that throws the economy of the smaller nations into a toss.When you treat a person who comes for help as just a borrower and a constant disturbance then how would you think of rehabilitating that person?

Instead, if the international financial institutions think of them as clients then there would bring a sea change in their growth.All that needs to change is the attitude and nothing more.The good news is that this is already happening and that deems good for the future.

There are market oriented and interventionist solutions to the financial crisis problems.They are not quick fix and cannot be used in isolation.There has to be a combination of both of them to solve the problems.One of these solutions involves getting the domestic and international financial institutions into the fray and in order to solve the financial problems.

There are two converging views and ideas of market oriented and interventionist solutions.The market-oriented one is called the free markets, which broadly gets the financial institutions national and international beneath its umbrella and tries to solve problems.While the latter, the interventionist method thinks of free markets itself as the problem.Completely two different view points.

The approach of these two has their advantages and they should be judiciously used at a time of crisis.The lax approach of the governments around the world when the financial bubble burst was bared naked.It is also true that all the people involved were clueless about what was happening around them.

It is quite clear from the whole episode that there are no shortcuts or quick fixes.There are no magic wands that wish away the crises in the financial markets.Relaxed attitude when dealing with financial markets is something that brings the downfall.Instead, everyone involved should try all the options that are available and do not stop until there is a clear solution in sight.

About the Author

Seomul Evans is a Internet Marketing Company consultant for a leading Free Content resources and contributor of Finance Articles.

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