Thursday, April 19, 2007

How to Obtain Declined Equity Loan Support

How to Obtain Declined Equity Loan Support
If you were recently declined for equity loans, you may want to perform another thorough assessment of the market, since lenders are now opening the doors to bad credit borrowers, no credit borrowers, and current home borrowers. If you were recently declined after applying for home equity loan, it probably is because you had defaults on your credit report, were blacklisted, had court judgments, or had filed for bankruptcy, or had problems on your credit report.

This is why it is always wise to review your credit report before applying for a loan. the review will help you to see where you stand. Still, if you have credit problems lenders are available to help you out. In addition, if you have fraud alerts on your credit report, you probably will not get a loan until you find the right source.

There are various types of loans available on the market that offer credit to all types of homeowners and buyers. The flexible loans are often great options since this provides you flexibility, and the ability to make "overpayments and under-payments." Other loans are not optional, since if you have credit problems, the certain equity loans can put you on the streets. Loans such as the internet only loans are gimmicky, since the borrower agrees to the amount of interest he will pay, thus he starts paying the interest over several years and finally starts paying on the mortgage itself.

As you can see, these type of loan can put you out on the streets. The capital on the mortgage over time will be untouched until the interest is paid. These are just some of the reasons why you should research the marketplace for the best rates before you settle on a lender, especially if you have already been rejected for an equity loan.

Talbert Williams offers online debt advice. For more information, articles, news, tools and valuable resources on debt solutions, visit this site: http://www.1debtfreedom.com

About the Author

Talbert Williams offers online debt advice. For more information, articles, news, tools and valuable resources on debt solutions, visit this site: http://www.1debtfreedom.com

Some basic questions about bankruptcy

Some basic questions about bankruptcy
This articles attempts to answer some common questions regarding individual bankruptcy. How does it get started?

Bankruptcy proceeding is usually started when a debtor or debtors file a petition at the bankruptcy court in the district they are domiciled. Filing the petition will put an 'automatic stay' on all other proceedings against the debtor by creditors.

Debtor must also submit lists of all the creditors, assets, and income, and in addition submit a plan of> repayment (in cases other than chapter 7), with or within a short time of, the petition.

Under what chapter should the debtor file for bankruptcy?
This depends on what the debtor wants to do. If he wants a prompt discharge of debts and is willing to let most his assets be liquidated to pay off creditors, he should file under Chapter 7. If he wants to consolidate and pay off his debts using his income while retaining the use of his assets, he should file under Chapter 13. Court will decide whether he is allowed to proceed according to that chapter.

Who is the trustee?
Since bankruptcy involves lot administration work away from court, the bankruptcy judge appoints a trustee to administer the bankrupt estate and coordinate the interaction between the creditors and the debtor. The trustee will separate the creditors according to claims, into various classes, with differing priorities. He or she will also organize the meeting between the creditors and the debtor, called the '341 meeting', where the debtor can be questioned under oath regarding his financial position. In Chapter 7 cases he will transfer all non exempt assets of the debtors to an estate, which he will liquidate. Then he will distribute the proceeds among the creditors. In the case of chapter 13, he will oversee the implementation of the court approved repayment plan and will distribute the payment received from the debtor among creditors.

Are all debts discharged?
No. Certain types of debts are not discharged. They include taxes, fines, child support, and alimony, among others. Secured debts have to be paid regardless of the bankruptcy proceedings. Otherwise the secured creditor, after obtaining court's permission, can take the collateral.

What assets are exempt?
The debtors can choose between the federal exemptions as stated in United State Bankruptcy Code or State exemptions. The choice must be made after consulting a Bankruptcy Attorney and after careful consideration. Usually exempted assets involves home equity, car, clothing, furnishings, and other such personal effects. These assets are made exempt so that the debtor can move on with his personal life and not be subject to punitive action by the creditors.

What is the effect on debtor's spouse?
When only one spouse files for bankruptcy other spouse's liability on joint debts will remain. Ownership of assets will be determined according to the marital property law operating in the State. If the the common law is applied only jointly held properties are taken in to consideration, in the case of community property law all assets acquired after marriage are considered to be equally owned.

Will the debtor be able to get credit in the future?
Yes, once the debtors has received a discharge he is free of any personal liability to those debts and most debtors are able to get fresh credit. Whether a creditor will advance new credit is however a complex decision involving other factors. The bankruptcy filing will be on record for ten years.

About the Author

Original content from bankruptcyhome.com We can help you find a Bankruptcy Attorney can contact at siteadmin@bankruptcyhome.com

How to Repair a Bad Credit Rating

How to Repair a Bad Credit Rating by Dan Farrell

If you have a bad credit rating, then you might find that your ability to get financing, loans, and even some jobs is greatly diminished.

Once you have a bad credit rating, it might seem like there's nothing that you can do about it but you don't have to believe that. It's not as difficult as you might think to get by with a bad credit rating; with a little work and time you can even repair it! Of course, before you do that it's important to realize exactly what a credit rating is.

Every time a lender or other creditor makes a report concerning your payment history to them, this report affects your credit score.

Your credit score is a numerical indication of the positive and negative reports that you've received from creditors and lenders; if the number is high then you have a good credit rating, and if it's low then you have a bad credit rating.

Basic credit repair
Get organized! Make a folder for all your correspondence offline and online. You will have to do some snail mailing but in most cases you can work your repair online.

In the U.S. a 630 rating will qualify you for a mortgage. You can still get credit with a lower score but not at a premium interest rate.

In fact, even a chapter 11 bankruptcy (erases all negative credit) is not as bad as many think. I am not advocating filing for bankruptcy (the laws have changed so you might have to set up a re-payment schedule if your income allows) but for those caught between a rock and hard place, unemployment, medical crisis, divorce...many good reasons for finding yourself unable to pay your bills, filing for bankruptcy is a god-send.

Many times, you will find creditors very eager to extend credit because you don't have any debts! It is the irony of the debt-income picture... if you have a steady income, you will have no problem getting credit cards, auto loans and even a mortgage.

So, don't despair, your situation is not as bad as you think! You will find a way to less worry, more sleep and better relationships.

To begin correcting your credit, the important thing to do is obtain your credit report and study it. Mark all the negative items.

Most unsecured credit, mostly credit cards, can stay on your report for 7 years. If you find any over that, write to the credit bureau and ask them to remove it. They are required by law to research and report back within 30 days.

If they don't, you can threaten them with a letter to the Better Business Bureau or Federal Trade Commission.

Find any other negative items and determine if they are correct. If not, write the bureau and tell them its not your debt.

Even if you aren't sure, ask the credit bureau*s to investigate. Many times, they will not be able to verify the debt because the credit card company, auto loan company or other creditor won't get back them within 30 days (required by Fair Credit Act).

For the contact information on credit bureaus as well as samples of letters to send to them, go to:

http://www.repair-credit-right.com

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About The Author

Dan Farrell is the creator of Repair Credit Right! With Tips, Articles And Credit Resources To Help You Restore Your Credit. http://www.repair-credit-right.com

About the Author

Dan Farrell is the creator of Repair Credit Right! With Tips, Articles And Credit Resources To Help You Restore Your Credit. http://www.repair-credit-right.com

Check Your Credit Report Regularly

You may reprint or publish this article free of charge as long as the bylines are included.

Original URL (The Web version of the article)------------------
http://www.defendingthenet.com/newsletters/CheckYourCreditReportRegularly.htm

Title-----------------Check Your Credit Report Regularly

Identity Theft & Your Credit Report------------------
Identity theft is a type of fraud in which financial information is illegally obtained for the purpose of making unauthorized purchases and transactions with credit cards or funds from financial accounts. A thief can use your personal information such as your name, drivers license, Social Security number, health insurance, or bank account number, to make purchases as if they were you. If this happens, it could be the beginning of a financial disaster that could linger for years and cause you to lose job opportunities, be turned down for credit or loans, and in some cases, ruin your reputation.

There are a lot of thing you can do to minimize the risk of becoming a victim of identity theft. This article focuses on obtaining and reviewing your credit report, quite similar to what we do when we perform network security assessments, believe it or not.

What Is A Credit Report------------------
There are three major credit bureaus that collect, maintain, an distribute credit information about you. These companies are Experian, TransUnion, and Equifax. Some of the information you will find in your credit report is; personal information such as your legal name, alias names, addresses, current and previous employers, and date of birth; your credit summary such as current and past credit status, total number of open and closed accounts, the balances of accounts, if they are current or delinquent; public record information such as federal bankruptcy records, local government court records, liens, judgments, and child support records (information that can stay in your record for up to 10 years); credit inquires - when you apply for a credit card or loan, the institution will make an inquiry to one or more of the credit bureaus; detailed account history - very up to date information about your loan payments, credit card debt and payment history, and this information stays on your report indefinitely; credit score - a number ranging from 330 to 830, the higher the number the better your credit is and increases the chance of you obtaining a loan or credit account.

Why Should You Check Your Credit Report Frequently------------------
If someone gets your Social Security number, it only takes a few additional pieces of information, which is quite easily obtained, to assume your identity. The Internet makes it even easier than ever because most of this information the criminal needs to get his hands on is out there. It is not my purpose to scare anyone, but I must tell you that if you think you are not at risk, you need to think again.

The most common forms of identity theft include; credit card fraud, bank fraud, communications services, and fraudulent loans. The bad thing is that this type of fraud can negatively impact your life, the good thing is there are ways of monitoring what other people do with your identity.

Do you know, that nearly all of the security assessments we perform, we find personal and financial information on work computers. What ever you do, do not store this kind information at your workplace. This is a sure fire way of becoming a victim of identity theft. If I had more room in this article I could tell you stories about identity theft and fraud that would make your hair stand on end. And, everyone of us are potential victims.

Things You Can Do To Protect Yourself From Identity Theft------------------
I've written other articles about identity theft, and I am sure I will write more. The bottom line is this is one of the worst things that can happen to you financially, and the risk of it happening is quite high. Some of the things you can do to minimize this risk besides regularly checking and monitoring your credit report is:

Shred all of those pre-approved credit cards you get in the mail. This includes any document or item you receive that contains your Social Security number, date of birth, or any other personal identity information.

Never print your Social Security number, phone number, date of birth, or credit card information on your checks. If a merchant ask you for this information so they can write it on your check, do not give it to them. Even if they tell you you cannot make the purchase without it, go somewhere else.

Secure your mail and email. Did you know that a common tactic for thieves is to divert your mail by filing a change of address at the post office. Of course, there is the typical method of just reaching into your mailbox and taking checks, utility bills, and so on. Because people use email as a substitute for snail-mail (normal paper mail), you should be careful what you email to people as well.

Monitor your credit by obtaining a credit report from one of the three, if not all three, credit bureaus. They may be able to provide you with a consolidated report from all three companies. And, most of them have inexpensive monthly services that monitor your report for you and send you alerts when things change or inquiries are made on your account.

Conclusion------------------
As a consumer, you need to take this issue of fraud and identity theft very seriously. Not only should this be important to you, but if you have a family, you should see it as an obligation to protect their future. As with any type of security issue, there is nothing 100% secure. However, you can take steps to minimize your risk and exposure. Remember, it is typically the easy target criminals focus their attention and efforts on.

Obtain your credit report and review it thoroughly, you might be surprised by what you find. If you happen to see something that is not right, take immediate steps to clear it up.

About the Author

Darren Miller is an Information Security Consultant with over sixteen years experience. He has written many technology & security articles, some of which have been published in nationally circulated magazines & periodicals. If you would like to contact Darren you can e-mail him at Darren.Miller@ParaLogic.Net. If you would like to know more about computer security please visit us at http://ww

Children and the Entertainment Industry

In today's society we know that the moral fiber of our communities is in peril. Why then, do we not protect our children? We have a responsibility to safeguard our most vulnerable; instead, we prematurely catapult them into a world they are not mature enough to handle and destroy their innocence.

Frequently, I am asked by parents and friends of aspiring "stars" to offer my opinion about getting their child into show business. Recently my publicist, Marsha Friedman, President of Event Management sent me the following question:

"...After the performance I spoke with her mom (who was in tears the whole time) about their incredible daughter and her future. Their daughter's dream is to be on stage singing professionally...I said I would forward some information to you - to get your thoughts."

After much contemplation, I wrote to the parents (excerpt):

"No matter how strong your daughter or your dream is, wait until she is 18 to try for stardom. She is already doing what she most wants, and that is to be on stage. Once she is 18 and you are ready for her to sell sex to other teenagers and older men in their 20's - 60's, she will be better equipped to handle the response, as you will be also..."

These words may strike you as unnecessarily candid, and perhaps a touch vulgar, but the reality is that most parents and children do NOT dream of just "being on stage." If that was the sole requirement for their happiness, then local stage performances (a much safer avenue) would satisfy their dream. Since the child may already be doing that, there would be no more questions as the goal would have been achieved. Sadly, the aim as stated is wrong. What the parents and child really want is stardom, without knowing the cost.

They focus on the Hollywood dream and convince themselves that the path to stardom will be a romantic ride. The fantasy is filled with adoring fans, endless wealth, eternal fame and glamorous travel. This illusion inevitably fades, and what remains is disappointment, heartache, bills and endless travel (in less than desirable circumstances). More ominously, some of the "adoring fans" may actually be obsessed with the child, to the point of danger. This should not be entirely surprising as the child is being sold to look like the American male fantasy of an adult woman.

Many people reading this article will be convinced that I am wrong, or at least exaggerating. I ask you to consider the last time you saw a child "star" who looked like a child in their videos? The typical images are a 15 year old Britney Spears, a 14 year old JoJo, or a 13 year old Leanne Rimes

When Spears came into the public eye, she was dressed like a Catholic school girl, seducing the audience with, "Ooh, baby baby." Leanne Rimes was dressed in a black satin outfit singing, "How Do I Live Without You." (It should be noted that her 'look' would be considered tame by today's standards.) Why are they dressed this way? Frankly, the music industry sells sex, sex sells.

These girls (although Leanne and Britney are now adults) are talented and beautiful, yet they are strategically packaged to entice older men. The fans who are young teenage girls don't care whether the artists are sexy when they purchase music. However, continually seeing their idols dressed seductively has made them aware of sexuality and they want to dress the same way. This contributes to the cheapening of children's values and image, and the cycle continues.

Recently, I was running on the treadmill at the gym when I was stunned by what I saw on one of the news channels. It was a feature about a modeling contest for children limited to those twelve and under. The winner would receive a one million dollar modeling contract, which of course sounds amazing! However, as the clip continued, mouths dropped throughout the gym. Three girls (under 12 - contest requirements) dressed in skimpy bikinis were being drenched with water and gazing at the camera like they wanted to seduce each man watching. If the girls were twenty five, aware of what they were doing and, as adults, making their own decisions, I wouldn't think much about it. However, the participation of twelve year olds is horrifying. Child pornography is universally condemned and pedophiles treated with not only revulsion, but the full force of the law. Doesn't this fall under the same category, just corporately condoned?

In my opinion, prostituting children in this manner is perpetuating child pornography in a purportedly "legal" manner. This practice needs to be stopped. While the music industry to date, has not participated in such an extreme level of exploitation of children, I still believe that children should be kept out of the music industry on a professional level until they are at least 18. Even with the strongest family support possible, they are not emotionally equipped to handle the issues that will inevitably emerge. Realistically, however, I know that children will continue to be signed and sold long before their eighteenth birthdays, let me offer some practical advice.

1. From a financial perspective, learn the business inside and out. You MUST know: Who gets what, and why? How much was made, or lost? What is the bottom line? If you don't make this a priority, you will join the host of famous artists who have been forced to claim bankruptcy.

2. Put together a dazzling press kit. People receiving the kit must be enticed into opening the package, so you will have to present your child in their best light. The demo must be well produced and include four of your child's best numbers. Keep in mind that each song will be listened to for about thirty seconds before moving on to the next piece. It's possible to make a pretty impressive demo on your own for about two thousand dollars, including pressing. Don't fall victim to the scam of someone guaranteeing stardom for your child with a professionally cut demo if you simply write a ten thousand dollar check.

3. If possible, establish a track record of sales BEFORE any contact with recording labels. (Get your CD listed on Soundscan.) You'll have greater bargaining power if you know your product value prior to negotiating.

4. If a label finances the recording of a CD, it is a loan, NOT a gift, and must be paid back. The recording industry is a business, not a charity. Beware of becoming competitors insurance. If you fall into that trap, you may lose everything. (I detail all of this in my book, The Indie Guide To Music, Marketing and Money.)

5. The phrase is, accurately, "Show Business," and your child must be prepared to put on a "show," just as you and they need to learn the "business." Britney Spears, Christina Aguilera, Madonna and Justin Timberlake are great examples of how this is done and the work involved to sustain sell-out crowds.

6. Provide acting, vocal and dance lessons for your child, and register them for writing classes. Writers currently receive 8.5 cents per song on a CD, while the artist generally receives one point per album. Writers make the most money, with little or no initial investment. Make sure you understand how to legitimately copyright music. The aptly named 'poor man's copyright' won't hold up in court.

7. Avoid anyone stating that for an upfront fee, they can make your child a star. Managers and agents get paid a percentage in the range of 10-20%. Managers usually receive 10-15%, while agents receive 15-20%. You also need to know and understand the difference between managers and agents. Similarly, lawyers shopping a deal for your child on his/her own volition will take a percentage of the contract. (Lawyers that you hire on your own request, must be paid up front.)

8. Marketing and promotion are imperative and can be very expensive. Labels have access to promotion capabilities that most individuals cannot afford. However, there is no limit or cost to imagination, so be creative! Affordable promotion can be attainable.

9. Develop personal relationships with contacts at the labels. Once you get to know people, they may offer you a special code to put on the outside of your package which signals to the front desk that your package is requested. (simply writing "material requested" on the outside of the package will not work) DON'T submit anything without permission; most throw unsolicited press kits in the garbage and a few return them unopened. Warner Brothers sends a nice note referencing legal concerns, while Disney sends a nicer more detailed note explaining their policy around copyright laws. Don't waste valuable product and time.

Currently, many people are considering the 'American Idol' route, while forgetting that only one person in the 22 million that showed up for auditions last year actually made it.

One last note: Label representation can be an awesome thing, but you must know the business first! There is much more detailed and valuable information in my book, "The Indie Guide To Music, Marketing and Money" ISBN 978-0-9746229-4-1 ISBN 978-0-9746229-4-1. Additionally, my website contains a number of applicable articles on the music industry which can be accessed free of charge. I wish you the best of luck in your endeavors.

Copyright 2005 Jaci Rae

About the Author

Jaci Rae is a #1 Best Selling author. Shop for a Day With Jaci Rae - How to Get Almost Anything for Free, The Indie Guide to Music, Marketing and Money and Winning Points with the Woman in Your Life One Touchdown at a Time. http://www.jacirae.com/