Debt Management 101: What is Bad Credit?
Having a bad credit means you have less than perfect credit because of unpaid or delayed repayment of past loans and other financial obligations. Your bad credit affects multiple areas in your life–your ability to borrow money, to get a job, and to apply for utilities. It is because your credit history is the measure of your creditworthiness or your ability and willingness to repay your debts. So, if you have a bad credit, it means you have a low credit score or you are not creditworthy. You may have a sparkling clean repayment record on your credit cards, but […]
Financial Dilemma: Pay Off Debt or Save Money?
Paying off your debt or saving money? This is a dilemma that many of us encounter in life. It can be a tough decision, depending on your financial situation, but with careful calculations made here and there, you can get a fantastic result. So, how are you going to tackle a situation like this? Here are a couple of solutions: Paying Off Your Debt It’s no surprise that paying the debt can lift some weight off your shoulders. Many Australians want to do it, and some even can, but most of us will be starving the whole month if we […]
Why Turn To Bad Credit Loans When Debt Collectors Are Harassing You
Bad credit loans come handy when debt collectors go after you. It helps you fix your credit too. Is feeling harassed by debt collectors just the price you have to pay for not paying your debts on time and not getting your finances in order? It doesn’t have to be that way; because being in bad debt doesn’t mean that you are financially irresponsible. Sometimes, you just didn’t have enough cash flow to pay back your loans or you missed payment due to oversight or serious billing errors. What’s bad credit, and what causes it? It’s the number-one problem of […]
Sarah’s Thank You Letter
Hey Team, So today is the big day! I’m finally getting my life back on track. I just wanted to say a quick thank you… I’m very much a believer in “Things happen for a reason”. Two years ago after struggling to get a business loan I stumbled upon your company and my file ended up on your desk. I was certain I was signing a deal with the devil… as to me the loan was somewhat unconventional. Never-the-less it was all above board, and you made it happen when no other lender would. Fast forward two years later, you’d […]
Tips in Choosing between Secured or Unsecured Loan
Here are some questions to ask yourself before you choose between secured and unsecured loans. What is your priority? It is time to revisit your list. Indicate how much you would like to spend on a certain goal. Rank your needs and wants based on its importance and urgency. Making a choice can help you achieve a specific goal. If you plan to accomplish a certain financial goal within a week or within 2 years, set a realistic target date, indicate its cost and purpose. If it is an emergency expense such as car repair or home renovation right after […]
Can a Short-Term Loan Be an Alternative to a Business Emergency Fund?
Financial Emergencies—from natural disaster causing equipment damage to a social-media crisis- -are a fact of running a business. When you are facing unexpected business emergencies, short term loans can help you. What are business emergency funds for? The unexpected events that can throw your business into a bin are typical occurrences in the lifecycle of any industry. But, without an emergency fund, your business is vulnerable to losses. There are unexpected events that can damage the credibility of your company from disgruntled employees to lawsuits filed by customers or suppliers. Natural disasters such as hurricane and earthquake can damage the […]
Why Paying Off Your Credit Card Debt with Home Equity Loans Is a Smart Move
Getting home equity loans to pay off high-interest credit-card debt can be a very wise move, if you do it right. Borrowers who don’t know how to spend their money wisely may end up losing their house when they are no longer able to make repayments. So, if you’re planning to pull equity out of your homes to pay off your outstanding debts, here are things to keep in mind: Using the proceeds of your home-equity loans on credit-card debts can quickly backfire if you keep using your credit card. While credit card minimum payments are due within a short […]
Are Low-Interest Rates Worth the Effort?
Considering the variety of lending options, it’s quintessential to make sure that you’re choosing the best deal for your needs. That is a possibility, especially since there are numerous loans with attractive low-interest rates. Still, are low-interest rates all they’re cracked up to be? Are they as convenient as it may appear at first glance? It seems that a low-interest rate is the holy grail of financial management. At the very least, it provides the borrower with the impression that he/she is getting the best deal on the market. Nonetheless, is this accurate? Are low-interest rates worth the effort? Does […]
How Business Loans Can Help You Survive the First Six Weeks of Being a New Business
When you start a business, you know the basics of running it, your goals, target market and your daily operations. But, the specific financial requirements are yet to be discovered during the first few weeks upon opening. While the early phase of your business is exciting, you may have your own share of uncertainties. You and your team are bound to experience some financial challenges, no matter how financially prepared you think you are. But, if you have access to the right loans, like NSW Mortgage Corp’s business loans, you can dynamically navigate the slightly bumpy road of business. We […]
Top Questions to Ask Before Consolidating Your Debt
Debt consolidation is the process that gathers the total amount of your outstanding debts into one single loan. As with any other financial procedures, it may or may not work for you. The key is to know what to look at to ensure that you’ve made the right choice for your personal background. If you’re considering debt consolidation, you should ask yourself the following questions. Can you afford to pay the debt? First and foremost, you need to evaluate the immediate effects linked to debt consolidation. What impact will it have on your financial situation? Will it help you to […]