? Are you one of thousands with no credit and no collateral to help secure approval, or you just have extremely bad credit and no one wants to help you, and all you hear is stories and more stories?
Bad credit is a term used to describe a poor credit rating. Common practices that can damage a credit rating include making late payments, skipping payments, exceeding card limits or declaring bankruptcy. Bad Credit can result in being denied credit.
Bad credit can result in a negative rating from the credit reporting agencies. Many factors can contribute to someone getting a "bad credit" rating, among these are non-payment of an account or late payments over an extended length of time. Whether non-payment of an account is willful or due to financial hardship, the result can be the same, a negative rating which will result in a low credit score. However, lenders are more willing to work with individuals if the person contacts the lender to let them know they are having problems meeting their commitment to pay. 100% Online Debt Relief! No Phone Calls! You must have at least $2,500 of total debt over two or more accounts to qualify for our Help. Name, email, and Zip Code are required. US Residents only. No phone call required - all customer interaction is done online!
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A credit score is defined as a statistical method of assessing an applicant's credit worthiness. An applicant's credit card history; amount of outstanding debt; the type of credit used; negative information such as bankruptcies or late payments;collection accounts and judgments; too little credit history, and too many credit lines with the maximum amount borrowed are all included in credit-scoring models to determine the credit score.
Raising your credit score is possible. It's a well known fact that lenders will give people with higher credit scores lower interest rates on mortgages, car loans and credit cards. If your credit score falls under 620 just getting loans and credit cards
with reasonable terms is difficult.
Here are five things that you can use to raise credit score.
1. Correct obvious mistakes.
Your credit score is what shows up in your credit report. Review your reports from all three credit bureaus for accuracy once a year as well as several months before applying for a loan. Changing a mistake on your report can take 30 days to three
months, or more. Get Your credit report from the three major bureaus: Experian, Trans Union and Equifax.
2. Pay Your Bills On Time
Your payment history makes up 35% of your total credit score. Your recent payment history will carry much more weight than what happened five years ago.
Missing just one payment on anything can knock 50 to 100 points off of your credit score.
Paying your bills on time is the best way to get started rebuilding your credit rating and raising your credit score.
3. Reduce your credit card balances.
A heavily weighted factor in your FICO score is how much money you owe on your credit cards relative to your total credit limit. Generally, it's good to keep your balances at or below 25 percent of your credit card limit, said Jeanne Kelly, founder of
The Kelly Group in Brookfield, Conn., which helps clients improve their credit scores.
4. Don’t Close Old Accounts
In the past people were told to close old accounts they weren’t using. But with today's current scoring methods that could actually hurt your credit score.
Closing old or paid off credit accounts lowers the total credit available to you and makes any balances you have appear larger in credit score calculations. Closing your oldest accounts can actually shorten the length of your credit history and to a lender it makes you less credit worthy.
If you are trying to minimize identity theft and it's worth the peace of mind for you to close your old or paid off accounts, the good news is it will only lower you score a minimal amount.But just by keeping those old accounts open you can raise credit
score for you.
5. Avoid Bankruptcy
Bankruptcy is the single worst thing you can do to your credit score. Bankruptcy will lower your credit score by 200 points or more and is very difficult to come back from.
Once your credit score falls below 620, any loan you get will be far more expensive. A bankruptcy on your credit record is reported for up to 10 years.
The reality of a bankruptcy is it will limit you to high-interest lenders that will squeeze out high interest rate payments from you for years.
It is better to get credit counseling to help you with your bills and avoid bankruptcy at all costs. By getting credit counseling instead of declaring bankruptcy you can raise credit score over a much shorter period of time.
About the author:
Team-Schuman.Com contains the best make money online and make
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Friday, July 13, 2007
Bankruptcy 101
Bankruptcy’ the term that can raise the goose bumps of almost every individual who hears it and even a nervous breakdown to those who confront it. Bankruptcy stands for the situation when a person runs into huge debts and there is hardly any money left with him to repay those debts. The clouds of bankrupt situation can hover over anybody’s life be it a successful business man who has never ever fathomed it or any greenhorn entrepreneur who had thought of going a long way ahead.
There are several reasons behind this insolvency-
Indebtedness-people usually take big loans from the banks and private companies in order to run successfully their business or company. However, since the economy is constantly fluctuating, one might not be able to incur expected results or profits. So, the loan debt with interest rates gets piling on. The loan can also be taken to pay off a bill that you missed paying. The loan is taken instantly in this case without an assessment of the interest rates. This can be cause snags later.
The credit card bills are also a source of trouble. They are charged with good interest and at the end of the month when the expenditure has chewed your month’s income; the credit card bill can make you bite the dust.
In the world today where fraud and betrayals are considered to be the bets virtues, any partner or shareholder or director might connive to pitch the company or business to bankruptcy. Here the reasons can be mutual squabbles and vengeance.
Gradual denouncement from the market- the commodity you sell today at price X, may be sold tomorrow by some other company at a much cheaper price Y. This can oust or eject your product from the market replacing it with a relatively cheaper one.
However, where there is a will, there is definitely a way. Just as there are two sides of a coin, there are two aspects attached to everything. When you glare at the negative side of the situation, its positive aspect is lurking behind according to which bankruptcy can be seen a situation that provides you a golden chance to start things afresh.
This is done by filing your application for bankruptcy, in a way seeking help from the government to help you overcome the disaster. Once you forward your application and it is accepted, the government repays most of your debts. This becomes possible by taking hold of your assets and dividing them amongst the creditors in an organized manner. But the debts that are associated with embezzlement or those huge ones that cannot be covered up via one’s assets can be problematic. In case of businesses filing for bankruptcy, certain procedure has to be followed up.
Besides this there are a few debt consolidation services that advertise themselves through television, print media etc. Debt consolidation signifies using a loan provided by that service to repay other debts. This loan is comparatively at a lower rate of interest and it often becomes easier for many to repay one loan instead of five to six ones.
In any case, if you are seeking financial aid from the government, banks, services etc., there stands the barrier of qualification. It is that you should be able to prove the service or the bank that your case is authentic and not a fraud. In order to escape future troubles, the government has formulated strict laws and eligibility criterion in this area.
However, in any case it is better to seek the advice of an advisor before seeking help to make up your crisis. This will not just educate you about all the related terms and conditions but also the possible legal and financial consequences. Just keep in mind that help always comes to those who are look for it with a true heart.
About the author:
Mansi gupta writes about bankruptcy Learn more at http://www.bankruptnomore.com
There are several reasons behind this insolvency-
Indebtedness-people usually take big loans from the banks and private companies in order to run successfully their business or company. However, since the economy is constantly fluctuating, one might not be able to incur expected results or profits. So, the loan debt with interest rates gets piling on. The loan can also be taken to pay off a bill that you missed paying. The loan is taken instantly in this case without an assessment of the interest rates. This can be cause snags later.
The credit card bills are also a source of trouble. They are charged with good interest and at the end of the month when the expenditure has chewed your month’s income; the credit card bill can make you bite the dust.
In the world today where fraud and betrayals are considered to be the bets virtues, any partner or shareholder or director might connive to pitch the company or business to bankruptcy. Here the reasons can be mutual squabbles and vengeance.
Gradual denouncement from the market- the commodity you sell today at price X, may be sold tomorrow by some other company at a much cheaper price Y. This can oust or eject your product from the market replacing it with a relatively cheaper one.
However, where there is a will, there is definitely a way. Just as there are two sides of a coin, there are two aspects attached to everything. When you glare at the negative side of the situation, its positive aspect is lurking behind according to which bankruptcy can be seen a situation that provides you a golden chance to start things afresh.
This is done by filing your application for bankruptcy, in a way seeking help from the government to help you overcome the disaster. Once you forward your application and it is accepted, the government repays most of your debts. This becomes possible by taking hold of your assets and dividing them amongst the creditors in an organized manner. But the debts that are associated with embezzlement or those huge ones that cannot be covered up via one’s assets can be problematic. In case of businesses filing for bankruptcy, certain procedure has to be followed up.
Besides this there are a few debt consolidation services that advertise themselves through television, print media etc. Debt consolidation signifies using a loan provided by that service to repay other debts. This loan is comparatively at a lower rate of interest and it often becomes easier for many to repay one loan instead of five to six ones.
In any case, if you are seeking financial aid from the government, banks, services etc., there stands the barrier of qualification. It is that you should be able to prove the service or the bank that your case is authentic and not a fraud. In order to escape future troubles, the government has formulated strict laws and eligibility criterion in this area.
However, in any case it is better to seek the advice of an advisor before seeking help to make up your crisis. This will not just educate you about all the related terms and conditions but also the possible legal and financial consequences. Just keep in mind that help always comes to those who are look for it with a true heart.
About the author:
Mansi gupta writes about bankruptcy Learn more at http://www.bankruptnomore.com
What to Consider when Filing for Personal Bankruptcy
President Bush in April signed into law The Bankruptcy Abuse and Consumer Protection Act. This bill promises many changes to law, and will make it more difficult for the average person in financial trouble to have debts removed with bankruptcy. Recent social and economic changes indicate that those considering a bankruptcy should do so now, as the queue is getting longer.
It will be now be harder to file under Chapter 7 of the code, which allows the courts to wave consumer debt and give the debtor a new start. Filings posted will be tested and those who have a decent income it seems will have to file under a more strenuous Chapter 13, which demands repayment by installments and the assistance of a lawyer. Now looming, bankruptcy filings are not only higher than they were previously, but are also higher than expected. Acros the country, filings are substantially higher than last year, and some bankruptcy practitioners say that their business has increased dramatically.
To make it more confusing is another law, that requires credit card companies to establish a payment schedule that permits consumers to repay debts in amended installments. Since early year, most credit card providers have doubled their minimum payments. An average person with say $12,000 in credit card debt, will have approximate monthly payment increases from between $150 to $450, an increase most people can ill afford.
This increase in bankruptcy filings has overwhelmed bankruptcy lawyers, who face a burden of being liable for false information filed by clients once the new law takes effect. Certainly an unwelcome change. This additional liability, together with the additional tasks, has prompted many lawyers to raise fees subsstantally over the same time as last year.
What does this mean for bad debt? From here on, bankruptcy filings will be more confusing, complicated and costly. The system is already overloaded with bankruptcy cases. If you suspect you're in the bankruptcy category, you should move on it now. Waiting even another day could be too late.
About the author:
A contribution from Roy Barker owner and publisher of www.bankruptcy-aid.coma resource for attorneys and anyone seeking information.
It will be now be harder to file under Chapter 7 of the code, which allows the courts to wave consumer debt and give the debtor a new start. Filings posted will be tested and those who have a decent income it seems will have to file under a more strenuous Chapter 13, which demands repayment by installments and the assistance of a lawyer. Now looming, bankruptcy filings are not only higher than they were previously, but are also higher than expected. Acros the country, filings are substantially higher than last year, and some bankruptcy practitioners say that their business has increased dramatically.
To make it more confusing is another law, that requires credit card companies to establish a payment schedule that permits consumers to repay debts in amended installments. Since early year, most credit card providers have doubled their minimum payments. An average person with say $12,000 in credit card debt, will have approximate monthly payment increases from between $150 to $450, an increase most people can ill afford.
This increase in bankruptcy filings has overwhelmed bankruptcy lawyers, who face a burden of being liable for false information filed by clients once the new law takes effect. Certainly an unwelcome change. This additional liability, together with the additional tasks, has prompted many lawyers to raise fees subsstantally over the same time as last year.
What does this mean for bad debt? From here on, bankruptcy filings will be more confusing, complicated and costly. The system is already overloaded with bankruptcy cases. If you suspect you're in the bankruptcy category, you should move on it now. Waiting even another day could be too late.
About the author:
A contribution from Roy Barker owner and publisher of www.bankruptcy-aid.coma resource for attorneys and anyone seeking information.
How Bankruptcy Works
Bankruptcy… a frightening word with serious connotations. In recent years governments have been cracking down, making penalties for bankruptcy more severe in an attempt to make them more difficult to attain so that only those in serious need can apply for them.
Despite the negative image that is associated with bankruptcy and the various problems that come along with declaring a bankruptcy, it doesn't have to be frightening; after all, bankruptcy was designed as a way for those individuals and businesses who find that their finances are out of control to get the help that they need to organize their finances and pay off their debts.
Once you take the time to understand what bankruptcy is and how it works, you won't find it as scary as you did at first.
Defining Bankruptcy
Bankruptcy is a legal term, meaning that an individual cannot within reason pay off their various debts and have allowed the court system to take over their finances for this purpose.
When filing for bankruptcy, the court will appoint someone to work out the payments to your creditors and to determine how much of your income must go to repay these debts. The court will either allow you to make payments, or more likely will deduct a portion of your paycheck toward this goal.
During this time, your credit will be limited… both by legal action and by the reluctance of creditors to issue credit lines to individuals who have declared bankruptcy.
Once the total amount set by the court has been repaid, the bankruptcy will be discharged and you will be able to start rebuilding your credit from the ground up.
Different Types of Bankruptcy
Several different types of bankruptcy exist, defined by legal codes for certain purposes. The exact types of bankruptcy available differ from one country to the next… in the United Kingdom bankruptcy can only legally be applied to individuals and partnerships, whereas in other countries such as the United States or Canada they can be applied to businesses as well.
Regardless of the limitations or allowances set by the government on who is allowed to declare bankruptcy, the general purpose of bankruptcy remains the same.
Lasting Effects of Bankruptcy
While you are working towards discharging a bankruptcy, your options for credit will be exceedingly limited. Even after you've had your bankruptcy filing discharged, though, you'll still find that you won't have many options for a while… many creditors will still be hesitant to work with you from between six months to two years depending upon the creditor and the service that you're applying for.
You should also take care with any offers that you do receive, because they will likely come with high interest rates and additional fees attached.
Life After Bankruptcy
Bankruptcy isn't the end of the world… it's actually a chance for a new beginning. As time goes by, the bankruptcy on your credit report will begin to matter less and less as you eventually start to establish new positive credit lines and build up your credit again.
Just like negative reports, your bankruptcy will eventually expire from your credit history; the process may take up to seven years, and until it expires there will still be those who are hesitant to deal with you.
Once it expires, however, the negative reports that preceded it will also be long gone… and you'll find that your newer reports are all that remain.
http://www.contentwow.com/bankruptcy/
Thursday, July 12, 2007
Is Personal Bankruptcy Right for me?
Personal bankruptcy is a problem that affects so many consumers in today's modern world. So why does it affect so many people? Well it's simply because consumer debt is now at the highest level that it has ever been at in the USA economy.
Most consumers largest debts are for things like home loans and automobile loans. These are secured debts as they are secured against the asset that you are purchasing. The most common second highest type of debt is unsecured debt, this is mostly from the use of credit cards. Credit cards are the widest source of unsecured debt in the USA and the world.
Unsecured debt can make people think about what their options are, it can be a catalyst in the reaction so to say. It is thought that many credit card companies have developed a 'honey trap' where once consumers get hooked, it is very difficult to get out of the continual borrowing cycle.
The most successful part of this strategy is allowing the customer to make a minimum payment, they even advertise this on the statements. Whenever the consumer pays this minimum amount all they are really doing is paying for the interest, a very small percentage goes towards covering the original loan. This means that by using the minimum payment you are getting yourself stuck in a continual cycle of just paying off the interest each month.
When the consumer just starts paying the minimum payment option they are making debt insolvency a real possibility. As the debt from credit cards increases, life continues as normal. Life can lead to unexpected outcomes, it could be a loss of employment, or illness. Anything could change making it impossible for you to repay your loan. Life is uncertain, but debt must be paid back. This is not secured, so you personally promise to give this debt back.
If something unexpected changes in your life it can make it impossible to keep up the payments on your unsecured debt, this could lead the debtor to consider filing for personal bankruptcy.
You can also find more info on Avoid Bankruptcy and Bankruptcy Alternative. Filingpersonalbankruptcyhelp.com is a comprehensive resource to get help in Bankruptcy.
http://ezinearticles.com/?Is-Personal-Bankruptcy-Right-for-me?&id=637326
Alternatives To Bankruptcy
Bankruptcy is one of the least envied predicaments one can be in financially. For those close to or at financial ruin, bankruptcy can seem like the best option. While bankruptcy can give a person a fresh start and a reprieve to lots of stress of not being able to pay their debt, bankruptcy is not a choice for everyone. If you are thinking about going bankrupt, you should seriously consider the alternatives before you decide.
Don’t Default
Many people that are on the verge of bankruptcy have relatively little debt that a few years of belt tightening can repair. For instance, if you are out of work and have debt in the $20K to $50K range, you might want to wait it out. Many people usually bounce back and are able to pay off their outstanding debt in relatively short periods of time. You should never go bankrupt for a situation that has a reasonable chance of repair. You never know, a month down the road you may find a decent job or once again become able to return to work.
Talk to Your Creditors
If you have become ill, injured or unemployed talk to your creditors and ask for a forbearance for a few months. Many creditors will bite the bullet and allow you a few months to help you get back on your feet. Most people, given a few months off from their loans are able to bounce back and repay their loans without anymore disruptions.
Pay the Absolute Minimum
Defaulting (not paying) is one of the reasons many people go bankrupt. However, if you can, choose to pay the absolute minimum. Send whatever you can. This means if you owe $200 a month on a credit card bill, send the company $10, or anything just to show them that you are still willing to repay the loan, but are in a difficult situation for the moment. This tiny payment can help you keep creditors at bay and willing to work with you.
Besides these options above, it is always best to talk to a bankruptcy attorney or non profit organization that can help you personally with your specific situation. Most people have financial difficulties at least once in their lifetime and if you put lots of thought and effort into these problems, many times you can climb out of the debt hole and return to good financial standing.
Connie Barker is the owner of several financial websites including http://www.badcreditloandirect.com
http://ezinearticles.com/?Alternatives-To-Bankruptcy&id=638167
Wednesday, July 11, 2007
Affiliate Niche: “After Bankruptcy” Market
If you are an affiliate looking for a niche market, here’s an important piece of information to make note of:
In 2005 there were over 2 million personal bankruptcy filings in the United States.
Many of these individuals will be looking to rebuild their credit and financial future. This spells opportunity for you as an affiliate. You see, here are just a few products and services that an individual with past bankruptcy will need in order to rebuild their credit and financial future:
1) Credit repair
2) Loans
3) Credit cards
Let’s take a look at each one in more detail, and how you can help as an affiliate:
1) Credit repair
One of the first things someone with a discharged bankruptcy on their credit report will want to do is clean up their credit report and increase their credit score. The problem is that many people simply don’t know how.
As an affiliate, you can help by connecting them with various “credit repair” related resources. By the way, when referring to “credit repair” I mean the removal of any inaccurate or obsolete negative information from an individual’s credit report - not accurate, non-obsolete negative information.
So what type of credit repair resources can you refer them to? Credit repair books, services, and software programs are an example – but as an affiliate you only want to represent solid, reputable companies.
You don’t have to limit yourself to just one avenue when it comes to credit repair resources – for example, some of your visitors may want to take the “do it yourself” route and prefer a credit repair book. Others may want to do less work and opt for credit repair software. Finally, others may want to hire a
service to help them. Why not include affiliate links to all of these options?
If you can find services, with an affiliate program, that specialize in credit repair advice for those with a bankruptcy that’s even better. The same with books, for those visitors that want to take the "do it yourself" route to rebuild their credit. For example, my ebook “After Bankruptcy Credit Solutions” has such an affiliate program.
2) Loans
For a number of people, being able to qualify for a loan after bankruptcy is critical. Fortunately, there are a lot of lenders out there who work with individuals that have had a bankruptcy. Even better, many of these lenders have an affiliate program.
Here is a just a sample of the types loans that individuals with a past bankruptcy may be looking for: Personal loans, home loans, auto loans, refinancing, etc. When researching a lenders affiliate program, see what type of loans they offer.
Just like credit repair, when it comes to loans, you can offer visitors a number of options: Links (with your affiliate ID#) to lenders, books on how to qualify for loans, and membership sites that provide a listing of “bad credit” lenders. Again, as an affiliate you have a lot of choices.
3) Credit Cards
There are a number of credit card affiliate programs out there –and many of the credit card programs target people with bad credit.
Your affiliate website could list a number of credit card programs for people with a past bankruptcy. Best of all, secured credit cards (those that require the customer to open a special savings account that acts as collateral for the line of credit) tend to have a high approval rate – which is good news for your visitors that have a bankruptcy on their credit report.
You’ll notice that I have been talking about giving your visitors options when it comes to each item we’ve covered – credit cards are no different. In addition to links to credit card issuers (with your affiliate ID#), you can also include affiliate links to related books and membership sites. As mentioned before, research company and offer carefully before joining their affiliate program.
Okay, we’ve looked at the various products and services you can offer your visitors as an affiliate, but aren’t there a already lot of websites out there marketing to individuals with “bad credit”. Yes there are, but a lot fewer that specialize in marketing to those with a past bankruptcy – which means less
competition for you as an affiliate.
In this article we looked at the growing “after bankruptcy” niche market. Hopefully it has given you some ideas that you, as an affiliate, can use to build a new income stream - while helping those with a past bankruptcy in the process.
If you are an affiliate looking for a niche market, here’s an important piece of information to make note of:
In 2005 there were over 2 million personal bankruptcy filings in the United States.
Many of these individuals will be looking to rebuild their credit and financial future. This spells opportunity for you as an affiliate. You see, here are just a few products and services that an individual with past bankruptcy will need in order to rebuild their credit and financial future:
1) Credit repair
2) Loans
3) Credit cards
Let’s take a look at each one in more detail, and how you can help as an affiliate:
1) Credit repair
One of the first things someone with a discharged bankruptcy on their credit report will want to do is clean up their credit report and increase their credit score. The problem is that many people simply don’t know how.
As an affiliate, you can help by connecting them with various “credit repair” related resources. By the way, when referring to “credit repair” I mean the removal of any inaccurate or obsolete negative information from an individual’s credit report - not accurate, non-obsolete negative information.
So what type of credit repair resources can you refer them to? Credit repair books, services, and software programs are an example – but as an affiliate you only want to represent solid, reputable companies.
You don’t have to limit yourself to just one avenue when it comes to credit repair resources – for example, some of your visitors may want to take the “do it yourself” route and prefer a credit repair book. Others may want to do less work and opt for credit repair software. Finally, others may want to hire a
service to help them. Why not include affiliate links to all of these options?
If you can find services, with an affiliate program, that specialize in credit repair advice for those with a bankruptcy that’s even better. The same with books, for those visitors that want to take the "do it yourself" route to rebuild their credit. For example, my ebook “After Bankruptcy Credit Solutions” has such an affiliate program.
2) Loans
For a number of people, being able to qualify for a loan after bankruptcy is critical. Fortunately, there are a lot of lenders out there who work with individuals that have had a bankruptcy. Even better, many of these lenders have an affiliate program.
Here is a just a sample of the types loans that individuals with a past bankruptcy may be looking for: Personal loans, home loans, auto loans, refinancing, etc. When researching a lenders affiliate program, see what type of loans they offer.
Just like credit repair, when it comes to loans, you can offer visitors a number of options: Links (with your affiliate ID#) to lenders, books on how to qualify for loans, and membership sites that provide a listing of “bad credit” lenders. Again, as an affiliate you have a lot of choices.
3) Credit Cards
There are a number of credit card affiliate programs out there –and many of the credit card programs target people with bad credit.
Your affiliate website could list a number of credit card programs for people with a past bankruptcy. Best of all, secured credit cards (those that require the customer to open a special savings account that acts as collateral for the line of credit) tend to have a high approval rate – which is good news for your visitors that have a bankruptcy on their credit report.
You’ll notice that I have been talking about giving your visitors options when it comes to each item we’ve covered – credit cards are no different. In addition to links to credit card issuers (with your affiliate ID#), you can also include affiliate links to related books and membership sites. As
mentioned before, research company and offer carefully before joining their affiliate program.
Okay, we’ve looked at the various products and services you can offer your visitors as an affiliate, but aren’t there a already lot of websites out there marketing to individuals with “bad credit”. Yes there are, but a lot fewer that specialize in marketing to those with a past bankruptcy – which means less
competition for you as an affiliate.
In this article we looked at the growing “after bankruptcy” niche market. Hopefully it has given you some ideas that you, as an affiliate, can use to build a new income stream - while helping those with a past bankruptcy in the process.
DISCLAIMER:
This information is designed to provide only a general overview of the subject matter herein.
This information is provided with the understanding that neither the publisher nor author is engaged in rendering legal, accounting or other professional advice. If legal or other expert assistance is required, the services of a professional should be sought.
Neither the publisher nor author shall be liable for any loss or damages, including but not limited to special, consequential, incidental or other damages, caused by the information contained herein.
This information is designed to provide only a general overview of the subject matter herein.
This information is provided with the understanding that neither the publisher nor author is engaged in rendering legal, accounting or other professional advice. If legal or other expert assistance is required, the services of a professional should be sought.
Neither the publisher nor author shall be liable for any loss or damages, including but not limited to special, consequential, incidental or other damages, caused by the information contained herein.
http://www.alliedarticles.com/Article/Affiliate-Niche---After-Bankruptcy--Market/1238
In 2005 there were over 2 million personal bankruptcy filings in the United States.
Many of these individuals will be looking to rebuild their credit and financial future. This spells opportunity for you as an affiliate. You see, here are just a few products and services that an individual with past bankruptcy will need in order to rebuild their credit and financial future:
1) Credit repair
2) Loans
3) Credit cards
Let’s take a look at each one in more detail, and how you can help as an affiliate:
1) Credit repair
One of the first things someone with a discharged bankruptcy on their credit report will want to do is clean up their credit report and increase their credit score. The problem is that many people simply don’t know how.
As an affiliate, you can help by connecting them with various “credit repair” related resources. By the way, when referring to “credit repair” I mean the removal of any inaccurate or obsolete negative information from an individual’s credit report - not accurate, non-obsolete negative information.
So what type of credit repair resources can you refer them to? Credit repair books, services, and software programs are an example – but as an affiliate you only want to represent solid, reputable companies.
You don’t have to limit yourself to just one avenue when it comes to credit repair resources – for example, some of your visitors may want to take the “do it yourself” route and prefer a credit repair book. Others may want to do less work and opt for credit repair software. Finally, others may want to hire a
service to help them. Why not include affiliate links to all of these options?
If you can find services, with an affiliate program, that specialize in credit repair advice for those with a bankruptcy that’s even better. The same with books, for those visitors that want to take the "do it yourself" route to rebuild their credit. For example, my ebook “After Bankruptcy Credit Solutions” has such an affiliate program.
2) Loans
For a number of people, being able to qualify for a loan after bankruptcy is critical. Fortunately, there are a lot of lenders out there who work with individuals that have had a bankruptcy. Even better, many of these lenders have an affiliate program.
Here is a just a sample of the types loans that individuals with a past bankruptcy may be looking for: Personal loans, home loans, auto loans, refinancing, etc. When researching a lenders affiliate program, see what type of loans they offer.
Just like credit repair, when it comes to loans, you can offer visitors a number of options: Links (with your affiliate ID#) to lenders, books on how to qualify for loans, and membership sites that provide a listing of “bad credit” lenders. Again, as an affiliate you have a lot of choices.
3) Credit Cards
There are a number of credit card affiliate programs out there –and many of the credit card programs target people with bad credit.
Your affiliate website could list a number of credit card programs for people with a past bankruptcy. Best of all, secured credit cards (those that require the customer to open a special savings account that acts as collateral for the line of credit) tend to have a high approval rate – which is good news for your visitors that have a bankruptcy on their credit report.
You’ll notice that I have been talking about giving your visitors options when it comes to each item we’ve covered – credit cards are no different. In addition to links to credit card issuers (with your affiliate ID#), you can also include affiliate links to related books and membership sites. As mentioned before, research company and offer carefully before joining their affiliate program.
Okay, we’ve looked at the various products and services you can offer your visitors as an affiliate, but aren’t there a already lot of websites out there marketing to individuals with “bad credit”. Yes there are, but a lot fewer that specialize in marketing to those with a past bankruptcy – which means less
competition for you as an affiliate.
In this article we looked at the growing “after bankruptcy” niche market. Hopefully it has given you some ideas that you, as an affiliate, can use to build a new income stream - while helping those with a past bankruptcy in the process.
If you are an affiliate looking for a niche market, here’s an important piece of information to make note of:
In 2005 there were over 2 million personal bankruptcy filings in the United States.
Many of these individuals will be looking to rebuild their credit and financial future. This spells opportunity for you as an affiliate. You see, here are just a few products and services that an individual with past bankruptcy will need in order to rebuild their credit and financial future:
1) Credit repair
2) Loans
3) Credit cards
Let’s take a look at each one in more detail, and how you can help as an affiliate:
1) Credit repair
One of the first things someone with a discharged bankruptcy on their credit report will want to do is clean up their credit report and increase their credit score. The problem is that many people simply don’t know how.
As an affiliate, you can help by connecting them with various “credit repair” related resources. By the way, when referring to “credit repair” I mean the removal of any inaccurate or obsolete negative information from an individual’s credit report - not accurate, non-obsolete negative information.
So what type of credit repair resources can you refer them to? Credit repair books, services, and software programs are an example – but as an affiliate you only want to represent solid, reputable companies.
You don’t have to limit yourself to just one avenue when it comes to credit repair resources – for example, some of your visitors may want to take the “do it yourself” route and prefer a credit repair book. Others may want to do less work and opt for credit repair software. Finally, others may want to hire a
service to help them. Why not include affiliate links to all of these options?
If you can find services, with an affiliate program, that specialize in credit repair advice for those with a bankruptcy that’s even better. The same with books, for those visitors that want to take the "do it yourself" route to rebuild their credit. For example, my ebook “After Bankruptcy Credit Solutions” has such an affiliate program.
2) Loans
For a number of people, being able to qualify for a loan after bankruptcy is critical. Fortunately, there are a lot of lenders out there who work with individuals that have had a bankruptcy. Even better, many of these lenders have an affiliate program.
Here is a just a sample of the types loans that individuals with a past bankruptcy may be looking for: Personal loans, home loans, auto loans, refinancing, etc. When researching a lenders affiliate program, see what type of loans they offer.
Just like credit repair, when it comes to loans, you can offer visitors a number of options: Links (with your affiliate ID#) to lenders, books on how to qualify for loans, and membership sites that provide a listing of “bad credit” lenders. Again, as an affiliate you have a lot of choices.
3) Credit Cards
There are a number of credit card affiliate programs out there –and many of the credit card programs target people with bad credit.
Your affiliate website could list a number of credit card programs for people with a past bankruptcy. Best of all, secured credit cards (those that require the customer to open a special savings account that acts as collateral for the line of credit) tend to have a high approval rate – which is good news for your visitors that have a bankruptcy on their credit report.
You’ll notice that I have been talking about giving your visitors options when it comes to each item we’ve covered – credit cards are no different. In addition to links to credit card issuers (with your affiliate ID#), you can also include affiliate links to related books and membership sites. As
mentioned before, research company and offer carefully before joining their affiliate program.
Okay, we’ve looked at the various products and services you can offer your visitors as an affiliate, but aren’t there a already lot of websites out there marketing to individuals with “bad credit”. Yes there are, but a lot fewer that specialize in marketing to those with a past bankruptcy – which means less
competition for you as an affiliate.
In this article we looked at the growing “after bankruptcy” niche market. Hopefully it has given you some ideas that you, as an affiliate, can use to build a new income stream - while helping those with a past bankruptcy in the process.
DISCLAIMER:
This information is designed to provide only a general overview of the subject matter herein.
This information is provided with the understanding that neither the publisher nor author is engaged in rendering legal, accounting or other professional advice. If legal or other expert assistance is required, the services of a professional should be sought.
Neither the publisher nor author shall be liable for any loss or damages, including but not limited to special, consequential, incidental or other damages, caused by the information contained herein.
This information is designed to provide only a general overview of the subject matter herein.
This information is provided with the understanding that neither the publisher nor author is engaged in rendering legal, accounting or other professional advice. If legal or other expert assistance is required, the services of a professional should be sought.
Neither the publisher nor author shall be liable for any loss or damages, including but not limited to special, consequential, incidental or other damages, caused by the information contained herein.
http://www.alliedarticles.com/Article/Affiliate-Niche---After-Bankruptcy--Market/1238
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