Dealing with credit

Your credit history and rating are extremely important. Not only do they tell lenders, creditors, and financing companies you have the ability to repay on loans, they also let potential lenders know you are a responsible borrower.

CREDIT SCORE AND HISTORY

Building a credit history will ensure that there is a record of your behavior when borrowing and repaying. This report will reflect your debts, payments and personal information. Your credit score accurately shows the likelihood of you paying back the loans you have taken, in good time. This is based on your past recorded payment habits.

The interest rate you will pay and whether you qualify for a specific loan or credit card is dependent on your credit habits reflected in your credit history. Financial institutions will make their decisions after reviewing your application and credit records.

HOW TO MANAGE YOUR EXISTING DEBT

When you wonder how to manage debt, your best choice will be debt consolidation. Debt consolidation is a simple process that combines your payments on different unsecured debts, to more than one creditor, into one monthly payment. The process offers numerous benefits including an overall reduced debt and lower interest rates. However, all the benefits of debt consolidation depend on the plan you choose. There are different types of plans and loan options, which work in very different ways. 

TIPS TO KEEP UP A GOOD CREDIT SCORE

Use cash or your debit card and make payments as you go for all routine purchases. Try to use your credit card only in emergency situations. Using your credit card for small regular purchases and then making payment in full is also acceptable practice. By adhering to a strict budget you will always be aware of the amount of money you require to pay your creditor what you owe.

It is essential that you regularly review your credit report to ensure that it is correct. It is not uncommon for incorrect reports to filter through. Credit scores are usually updated on a quarterly basis and can be tracked over time. Familiarizing yourself with different types of available credit will assist you in remaining credit responsible. Educating yourself will help you utilize available credit types for your benefit.
JAKOB AND KOUCHNER FINANCING OFFERS LOANS RANGING FROM $5,000 TO $399,999. THE ANNUAL PERCENTAGE RATE(APR) SHALL NOT EXCEED 12.95%. LOAN TERM SHALL BE NO LOWER THAN TWO YEARS AND NO HIGHER THAN 30 YEARS.
IE. LOAN- $125,000 APR- 5.25% TERM- 20 YEARS MONTHLY PAYMENTS- $546.88.
NO ADDITIONAL FEES OR COSTS ATTACHED TO ACQUIRING A LOAN.
Late payments are subject to fees not exceeding 10% a month and are also creating a negative impact on your credit score.