All About Debts

or direct deposit. If you have any negative information, you ll receive a FREE quote from Verify your identity by faxing your signed Permission form and a copy of your ID to us. Credit scoring: how it works What is credit scoring If you have tried to get credit, a loan or a bond, you may have had your credit information graded for risk potential. This is called credit scoring or risk scoring . Credit scoring is one factor that credit grantors use to determine if they should extend credit to you. According to research, the better the borrower s score, the more likely he is willing and debt help

able to repay the loan. The score is a number grade reflecting your credit history at a particular point in time. Lenders use credit scoring to speed up the loan review process and to reduce the cost of examining your credit information. Credit scoring also gives credit grantors an unbiased method of evaluating your credit history. Unfortunately, in South Africa there is no standard method of scoring. This means that you as a consumer cannot obtain one score which is rated according to one standard method knowing that if your score is good, then it will be rated as good by all credit grantors. The credit bureaus have developed the most common scoring methods. Experian use the Delphi counseling debt

score, and TransUnion ITC has developed the Empirica score. Both use your credit data in the determination of your score. In fact, both companies are experts in the area of credit scoring, and regularly sell the credit grantors their credit scoring programs. consolidation consumer debt

How does credit scoring work Your score will consider whether you have accounts in collection; whether you have any defaults and how frequent and recent they are; and whether you make your payments on time. How much impact each item has on your score depends on what other information is on your record. For instance, one late payment may not affect your score too negatively if the rest of your history is good. In addition, you will receive points for maintaining a good payment history. debt settlement

The amount of outstanding debt Your score will take into account how many accounts you have, the average balances across the accounts, your current level of borrowing, and whether you are close to or over your limits. Carrying too much available credit can also count against you even if you are not making use of this credit. Your credit history Your score will take into account how long you have had your accounts, the total number of enquiries and new accounts opened, and the amount of time since your last enquiry.Credit grantors will do an enquiry on your record when you make application for credit. Your score will take into account the number of enquiries on your record, as research shows that debt free

people who are expecting to run into financial problems open up as many lines of credit as possible, to have available in such times. The type of credit you use Your score will look at the diversity of credit you make use of, whether you use credit cards, department store cards, short term loan-shark type loans, access bonds or instalment loans. Negative information Negative information will definitely have an impact on your credit score. Such information includes judgments, bank and other defaults, collections, insolvencies, rehabilitations, administration orders and notices. In South Africa these listings have a huge negative impact on your credit score, and it is advisable to have these removed, if possible, before applying consolidation debt service

for credit. Use a specialist attorney to assist you with rescission of judgments and removal of default data. There are few specialists in this field, and we recommend Credit Health s partners, Logan Attorneys. company consolidation debt

Information not considered for your score Your race, colour, sex, sexual orientation, marital status and age will not be taken into account in the determination of your credit score. A typical scoring model may consider your profession and how long you ve been at your current address, for purposes of establishing stability. Everything in credit scoring is relative one negative item can have either a large or a small impact on your score, depending on your credit history. If you have a long and established history of good payment on your accounts, one missed payment will have little effect on your score. If you however have a short credit history, say less than two years, then one missed consolidation debt online

payment will have a large effect on your score. Your credit history is stronger with good payment of credit cards than with timely payment of your bond. This is because most people going through times of financial instability will do everything possible to make their bond repayment, but will more readily skip a payment or two on the credit card. What is a good credit score What the actual score is will depend on the model being used by the credit grantor, the credit bureau used to supply the credit information, the credit grantors acceptable level of risk and credit policies. Generally, the higher the score, the better. Also, a certain score may be acceptable for one credit product, but not for another. consolidation debt free

How can I improve my credit score Your credit score is constantly changing as your credit information is changing. Taking steps to improve your credit score may not become immediately apparent in your credit score, but will make a large difference over time. Rescinding a judgment or having default data removed will however always make a big difference. Here are some tips on how to improve your credit history, which will have a positive effect on your credit score. debt problem

Correct errors You should get a copy of your credit record from Credit Health. Preferably obtain the 2-in1 credit report, which shows your information from both bureaus. Make sure your information is complete and accurate. Ensure that there are no negative listings such as defaults, judgments or collections. If there are, contact Logan Attorneys on to assist you with removing this accurate negative information. credit debt

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The top 11 credit mistakes Putting your administration or sequestration behind you My creditors are chasing me for money what do I do

Debt Help Debt Settlement Plan The 7 Steps to Wealth Sequestration vs Debt Counselling Collections crash course Do-it-yourself debt reduction debt recovery

A guide to bond registration Six simple things you can do to ensure a smooth home purchase 10 questions to ask your attorney Making use of an estate agent Arranging your move Buying a home

ID Theft Security Online Shopping how safe is it really Identity theft contacts counseling credit debt

Identity theft - Questions Answers An ID thief stole my life! Identity theft basics Password protection The dangers of using a cyber caf The 10 rules of financial management Saving with an access bond Money management tips Investor lessons from cricket

• Sequestration vs Debt Counselling

  The difference between Sequestration and Administration or Debt Counselling consolidation debt uk

• Credit reports: Inaccuracy can be costly

  When it comes to your credit record, inaccuracies can be costly. Find out what the costs are. Get the best advice. We ll help you save money. debt reduce

• Which credit report is right for me

Do you know you have the right to get your credit report from the two major bureaus free, once a year You need both to get the full picture. The Credit Health Report gives you both, plus expert advice and guidance. get out of debt

• Credit Health Monitor

  Did you know that ID theft is becoming a major threat in SA. Crooks are stealing identities and fraudulently opening accounts with them. Find out how to avoid becoming the victim of ID theft... debt destroy

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Disclaimer: Your use of any information posted at http://www.credithealth.co.za is subject to the Website Terms. While Credit Health (Pty) Ltd has used its best efforts to verify that the information presented on this web site was correct at the time it was posted, we make no express or implied warranty regarding the accuracy, adequacy, completeness, legality, reliability or usefulness of any such information. debt elimination

Fight back on your debt What to do if the Sheriff comes knocking Facing financial crisis Divorce could put you in unexpected debt

HomeLoans Apply for a Bond Consolidation Loan Capital gains tax Prequalified, Pre-Approval, Approval - what does it all mean Supporting documentation consolidation debt mortgage

Investor lessons from cricket

LifeStages Starting Out Buying a car Marriage Family Buying a house Getting ahead Overcoming challenges Planning for retirement Learning Centre About Credit Health Credit Health Manager Debt Settlement Plan - example collection debt

Debt Settlement Plan - Q A Why settle you debts Starting Out Starting out right building a good credit profile Spending your first pay cheque Advice Applying for finance what to look out for in the fine print Starting Out

You are really fortunate to be reading this at an early stage of your financial career path. We use the term career path for good reason ... if you learn how to manage your money now; and if you make a priority of it as you do your career, look what you can look forward to! card consolidate credit debt

• A life unburdened by debt! consolidation debt help

• Early, wealthy retirement! consolidation credit debt

• Living the life of your dreams! bill consolidation debt

• A wonderful personal life with no debt stress! consolidator debt

Yes, its true! The outlook for someone who makes the right decisions early on is incredible! No matter how modest the beginnings! No matter how small your current salary! And because you are reading this, you are clearly heading in the right direction! Allow us to help you avoid some of the more common traps that most people fall into ... card credit debt management

1. Develop a healthy respect for debt.

   Know what it really does to people when they spend 75% of their after tax income on debt repayments, as the average South African does! Think of the people you know who are stressed by debt, and how their private lives suffer. Know that no-one else is likely to point this side of the story out to you! Most of the information you get about debt out there in the world is going to be how easy it is, how you can have what you want NOW, how you deserve it. Understand how it harms you to believe this ... how most people will never be wealthy because of debt. debt loan

2. Live within your means, no matter how small OR large they get

   . Credit providers (banks, credit card companies, stores, etc) are going to start targeting you with offers of easy credit. After a few years, the trickle will turn into a flood! And its so tempting to enjoy that holiday you deserve but dont have the money for ... or to buy that car you cant really afford. If you can resist the temptation, you will free yourself of over-indebtedness - one of the major causes of stress and strain in most peoples lives! bad debt

If you stop paying an account, and do not pay even after getting phone calls or letters of demand, the store or bank may apply for a court judgement. A judgement is granted when a court has ordered that you make payment on the debt or outstanding account. A judgment remains on your report for 5 years. The company may then come after you for the money, via the Sheriff of the Court who repossesses your things and auctions them off; or it may write off the debt. They have years in which to do so, which is a long time to have something like that hanging over your head. So to protect yourself from the uncertainty, and take a weight off your mind, contact Logan Attorneys. consolidation debt quote

Or, years later, a collection agency may buy the company s list of written-off debts and make themselves some income by getting the money out of you. If this happens, you will pay a lot more than you should unless you consult a debt specialist like Credit Health who can reduce the debt by up to 50%. card credit debt elimination

Even if you never hear another word, a judgement is a serious problem because it stays on your record and you should take steps to get it removed, by paying the account and then going back to court to ask the judge to remove the judgement. consolidation debt lead

If you decide on this route, whatever you do, don t do it alone! Not only will you pay probably twice what you should on the old loan, but going to court is a specialized and very time-consuming process. Our consumer protection attorney partners, Logan Attorneys, can help you, saving you up to 50% of the money and uncountable hours and effort! consolidation debt non profit

What is the minimum amount for which a judgment can be granted

Judgment can be granted for any amount but a court will usually not hear a case where the amount is very low as it is regarded as a waste of the court s time. There is no stipulated amount for the industry, but in general a credit bureau will not load a judgement issued for less than R100. When do stores or banks note adverse information on a credit report debt loan student

At what point does a bank send through a message to the credit bureau, instructing them to put an adverse information note on your credit record The answer is, it varies. Each store or bank has its own policies. Credit bureaus generally require that in order to submit a default the lender or creditor: credit debt services

• must be a registered subscriber (i.e. be paying the credit bureau for the service) consolidation debt loan online

• the default must be accurate (Q: who s checking ) consolidation debt home loan

• the account may not be in dispute (in other words, you have not phoned to query the account) debt national

• the consumer has been sent prior notice company debt management

• the amount is a result of a credit-related transaction christian consolidation debt

What to do if you have default data on your credit reports

1. Find out the facts by getting your credit record agency collection debt

2. Contact the stores or banks that you owe money to and try and make an arrangement with each of them to pay back your debt. (NB! Be aware that if you ask to repay a smaller amount each money you will probably end up paying more interest!) calculator debt

3. Once your debt has been paid, ask the store or bank to send the bureaus a written instruction to remove the default if their credit policies allow or at least update the information on your credit report to show that you have paid your debt. You can request Logan Attorneys to do this for you. consolidation debt information

4. (NB! If you don t do this, AND check up later, it s probably not going to happen. Ask yourself all the time, who s interests are they looking after Yours or their own )
5. Request a copy of the written instruction from the store or bank for your records. (NB! Do not rely on someone s word! It can be denied! Get it in writing!)

This is not good for you! It is likely to seriously affect your ability to get another loan or bond, especially one on good terms (e.g. at a low interest rate). But here s a really good reason why it pays to educate yourself, as you are doing now, by reading this information: At their discretion, they can remove this information one the debt has been settled. AT THEIR DISCRETION. In other words, if they feel like it. agency consolidation debt

Q: But who s interests are they serving Why would they do this A: If they are asked, badgered, bothered, or pestered enough by you. Or by the specialists, Logan Attorneys, who can do it for you and save you the hassle. There must be a good reason in other words the account must have been settled by you. If you went into arrears for a good reason, like retrenchment, hospitalization, the liquidation of your employer, etc, you have a very strong case, but make sure it gets to the right ears! consolidation debt solution

How to do this (on your own): california consolidation debt

• Lodge a formal grievance

  with the applicable credit bureau. card credit debt relief

• The credit bureau will then issue you a reference number. consolidation debt loan uk

• The credit bureau has 20 business days to solve the dispute. collector debt

• If the credit bureau is not able to settle the dispute in 20 days, they will contact you to provide you with a reference number and the contact details for the credit ombudsman. consolidation debt equity home

• You can then forward the complaint to the ombudsman who will investigate or mediate accordingly. consolidation debt government

• It is completely confidential and its marked by the computer so no-one but you needs to see it. consolidation debt firm

• Best of all, its about getting free from debt slavery and making this the happiest, most empowered, most liberated, most successful time of your life! consolidation debt financing

Assistance Online Shopping how safe is it really

By Iona Minton Most people spend their days in a constant rush with little opportunity to slow down or relax with family and friends. Sadly leisurely shopping sprees have become a luxury of the past and speed shopping in packed stores is the new norm. To avoid the crush and save time there has been a massive increase in online shopping. Why leave your comfortable couch or the office when you can visit the web for latest updates on books, music and DVDs You can even order your groceries or clothing online. Despite the obvious benefits many people still feel a bit uneasy about the ease of going online. The truth is there are some potential risks, especially when inputting credit card and other personal details on the web, which can certainly out-weigh all that convenience, when things go belly-up. consolidation consumer credit

The benefits of online shopping are fantastic; no annoying checkout queues, no parking hassles or shoving to get inside crowded shopping centre, no rude salespeople and buying online is often tax free, comments Shirley Dare, ClubCard and Financial Services Manager for Clicks. The dangers also need to be highlighted so that shoppers know what to watch out for, although most of these risks apply to all shopping experience both in-store and on-line. People should never let their credit card out of their sight. By the same token giving out credit card details online is basically the same thing as physically handing over a card. So common sense is the best defense against potential theft or hazards. Just be careful and use the same safety measures that you would in the real world and shopping online can be a life (and time) saver. debt free living

The most common and obvious thing to look out for is the legitimacy of the website that you are shopping on; make sure that the pages you type information into are protected by a Thawte, Verisign or another online website security providers certificate, do this by checking for anyone of their logos on the secured page(s). Other signs of online security are the closed padlock on the page and the s in the web address: https://.... Make sure you check this on each new page that you click through to. Also check that the website address is correct and that you have a direct link, dont shop on a site that requires redirection or go through the process of checking their security certificate again. Double check this by looking at the address of the site when online and make sure it is the same address you typed into your address bar, and that you have not been redirected to an unsecured site. debt management program

These logos and signs are all protected to ensure that not just any hacker off the street can copy and paste them onto their site to fool the consumer into giving his/her credit card details and other personal details that could be used for fraudulent purposes. This is done through the use of public key certificates which require the digital signature provided by Thawte, Verisign or its equivalent, as well as the public key, which is information provided by either the singular user or in the case of large corporate companies there is a company public key which each user applies his or her own username and password to. Should any certificate be under suspicion there is a public access Certificate Revocation List (CRL) that the certificate in question can be checked against which lists all revoked and terminated certificates. The other way is to query the certificates authority using the Online Certificate Status Protocol (OCSP) to find out the status of a specific certificate. All certificates that are under question or have been terminated are listed here. The certificate provider, e.g. Thawte, authenticates the certificate by allowing users to click on it (the certificate) and be taken through to a page generated by the certificate provider, where the status of the certificate is displayed. Provided you are taken to a page on the Thawte website, if it is a Thawte certificate and the status is displayed as valid, you can take comfort that the secured webpage(s) (https://) which that website uses to capture payment details are being secured and the information you provide will be encrypted and sent over the Internet in an unrecognisable format. consolidation debt free quote

Once you are certain that the site is secure be clever with your access details and make 100% sure they are safe at all times. When choosing a security password dont use something obvious like your birth date or name, try to make it difficult for anyone else to guess. It is always a good idea to combine numbers with characters as this will dramatically increase the difficulty of guessing the password, but be careful not to simply replace password with pa55word as that is a common mistake. A better option would consist of capitals and lowercase letters and numbers jumbled together. If it is a site that is regularly visited then change your log-on details regularly. Most browsers offer to remember passwords for you, always say no, otherwise accessing your details can be as easy as visiting that website with your web browser as you will be automatically logged on. Once all the shopping has been done be sure to log off correctly so the site is closed and that you, as the user, have been logged out. debt management credit

• Copy of financial statements You may be required to produce a full set of financials . eg balance sheet, income statements etc, which must be signed by the auditor. card consolidation counseling

• Details of all the directors / members consolidation debt lender

• Founding statement of the close corporation calculator consolidation debt

• Close corporation certificate best consolidation debt loan

• Company certificate consumer counseling debt

• Memorandum and Articles of Association consolidation counseling

• A resolution by the directors / members of companies / close corporations advising who may sign the home loan application / pre-approval for the purchase of the property best consolidation debt

• A copy of the Trust Deed counselor debt

• Resolution advising who may sign the home loan applications / pre-approval best company consolidation

• A resolution by trustees advising who may sign the documents and purchase properties consolidation debt lending

Once you ve begun the application process, your property finance consultant will advise you of all the documentation required for your situation. But keep in mind - the more information you have ready before you apply, the faster your loan will be approved. debt equity ratio

Prequalified, Pre-Approval, Approval - what does it all mean

by MortgageSA Some buyers think getting pre-qualified is the same thing as getting pre-approved when in fact they are quite different. While definitions change in the market, below are general descriptions of what each process entails. Prequalification Getting pre-qualified is simply getting an idea of the price range you can afford. It is based on your stated income, assets, and liabilities. With a pre-qualification, your information is not verified and the loan you pre-qualified for is not guaranteed. business consolidation debt

Pre-Approval

If you have already started looking for your home, or are working with an estate agent, you will need to get pre-approved. A pre-approval is a lenders firm commitment on a loan and this enables you to enter into negotiations with a seller with confidence. A pre-approval includes a preliminary screening of a borrowers credit history. Once this phase is completed, most lenders consider you pre-approved for a home loan amount. Your pre-approval usually valid for a period of 90 days. out of debt

Approval

Final approval is when you have found your home, a valuation has been conducted, the offer to purchase has been signed by yourself and the seller and everything has been found to be acceptable to the lender. Once you receive final approval, you re ready to close the sale. Knowing the difference between getting pre-qualified and getting pre-approved can help you avoid costly mistakes - including making an offer on a home that is outside your price range. card credit debt help

Assistance Identity theft contacts

By Credit Health The South African Fraud Prevention Service, www.safps.org , keeps a list of people who have lost their identity documents to ensure that accounts are not opened using these lost or stolen documents. It is generally not enough to simply report the theft to the SAFPS and a case should usually be opened with the SAPS to ensure that the theft is properly noted. Provided this was done at the time of the theft or loss of your identification papers any subsequent use of your documents to open accounts in your name may be challenged and proof that the documents were stolen will assist you in having the account closed and any balance written off. advice consolidation debt

Remember that you can also notify the credit bureaus that any accounts opened by an identity thief were not opened by you and you can request the credit bureau to investigate the account and have it removed from your credit record. debt eliminate

The credit bureaus will generally want you to provide them with an affidavit or other proof that you did report the theft of your identity documents. SAFPS Protective Registration Service The free Protective Registration facility is offered to members of the public who are encouraged to register the theft or loss of Identity Books and other personal documents or where there is evidence of impersonation by another person. debt services

Such registration can be made on the Internet through the South African Fraud Prevention Service website at www.safps.org.za or by calling 0860 101 248 SAFPS Help-Line: 0860 101 248 Tel: +27(0)11 869 6460 E-mail: safps@safps.org.za TransUnion - 0861 482 482 Experian - 0861 105 665 National Anti-Corruption Hotline Number at 0800 701 701 card consolidation credit debt

QUICK TIP Ask your HR department about the security of their employee files. If stolen, they could be used to perpetrate ID theft against you or your fellow employees. Assistance What to do if the Sheriff comes knocking

By Credit Health Your rights First ask the Sheriff to show you identification to prove they are who they claim to be. Next ask to see the court order they are acting in terms of. Remember only a duly appointed Sheriff acting in terms of a valid court order can write up a list of your assets for attachment. If the Sheriff proves his identity and shows you the court order you must co-operate with him or her. Failure to do so is a criminal offence. debt help

Judicial attachment

The Sheriff will need to write up a list of assets that may be sold by public auction to satisfy the amount of the judgment. You can stop this process at any time by paying the amount claimed, in full, to the creditors attorney and providing the Sheriff with a copy of the proof of payment. The creditors attorney will then instruct the Sheriff to release the goods and you will then be free to do with them as you please. Once the list has been made you cannot sell any of the items on the list or remove them as they have been attached by court order. counseling debt

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