Commerce – Insite Website Design Fri, 17 Sep 2021 19:51:39 +0000 en-US hourly 1 Commerce – Insite Website Design 32 32 Why Hibbett Sports jumped 12% early today Thu, 11 Mar 2021 06:19:00 +0000

What happened

After jumping more than 12% earlier today on Friday, the athletics-inspired retailer’s shares Hibbett Sports (NASDAQ: HIBB) remain up 4% as of 11:30 a.m. EST. The company posted earnings this morning and several positive indicators stood out.

So what

Hibbett said earnings of $ 1.47 per diluted share, triple the $ 0.45 per share estimated by analysts. The company also reported comparable store sales of 21.2%, compared to an expected 7.5% increase according to Refinitiv.

Image source: Getty Images.

Like with many retailers this year, Hibbett reported strong e-commerce sales that increased 51% from the previous year. But perhaps most surprisingly, sales of mockups for physical stores jumped 17.5%.

Sportswear retailer Walk-in locker Also said profits that far exceeded analysts’ estimates today, but same-store sales rose only 7.7% at the biggest competitor. As of October 31, 2020, Hibbett had less than 1,100 stores, while Foot Locker operated more than 3,000 stores in 27 countries.

Now what

Hibbett President and CEO Mike Longo attributed the strong results to several factors that he said helped in-store and online sales. He said in a statement that “the retention of new customers, the timing of back-to-school spending and the availability of in-demand shoes, clothing and accessories” were behind the successful quarter.

With new customer additions, a growing e-commerce platform, and what the company calls “strong supplier relationships” that help it meet customer demand, Hibbett believes she will see comparable sales ranging from high to double digit in its fourth quarter.

Retail investors know that consumer interest can be fickle. But for now, Hibbett seems to have found what his customers are looking for.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Is the FireEye rally here to stay? Thu, 11 Mar 2021 06:19:00 +0000

FireEye (NASDAQ: FEYE) investors have been disappointed this year as the company failed to capitalize on the surge in cybersecurity spending in the wake of the coronavirus pandemic. Canalys predicts a 5.6% increase in cybersecurity spending this year to $ 43.1 billion as organizations seek to address the challenges posed by the increase in remote working environments.

The research firm estimates that cybersecurity spending in 2020 could overtake the overall economy. The bad news is that FireEye doesn’t appear to be able to take advantage of this growth. The recent results and outlook of the company have did not assure investors that he can thrive in such a competitive industry. Even then, FireEye stock rallied well from its low in March, gaining over 60%.

Data by YCharts.

But that momentum will be put to the test when FireEye announces its second quarter results after the close on July 28.

The bar is set low

Wall Street expects a loss of $ 0.02 per FireEye share on revenue of $ 214.8 million, according to forecasts issued by the company in late April. The numbers don’t compare favorably to the period a year earlier when FireEye reported revenue of $ 217.6 million and a loss of $ 0.01 per share.

This is not surprising, as FireEye is struggling to generate revenue growth due to its transition to a subscription model. The company now recognizes revenue over the term of a contract, compared to the previous practice of recognizing the sale in advance when it sold a perpetual license. But the problem is, this change has created uncertainty for the company as customers aren’t entering into longer contracts now.

Worried woman looking at a computer.

Image source: Getty Images.

FireEye withdrew its billing forecast for the year, citing low visibility amid the pandemic. The company fears that some of its customers are “less willing to pay upfront for several years,” which has created uncertainty about the average length of contracts. In the first quarter, the average billing duration of FireEye contracts in the subscription and support business was 25 months. The company anticipates a drop of two to three months in the average length of contracts this year.

This does not bode well for FireEye at a time when cybersecurity spending is on the rise and its peers are profiting from the environment. Palo Alto Networks exceeded expectations and recorded impressive growth last quarter. Same Checkpoint software witnessed a increased demand for its solutions thanks to an increase in teleworking.

But FireEye seems to be going in the opposite direction: it had to lay off 6% of its workforce to cut costs in order to cope with an unfavorable business environment. Deferred revenue only grew 1.5% year-over-year in the first quarter, which was smaller than the increase in its actual revenue.

Deferred income is collected in advance by a business for services to be rendered later. The metric should ideally increase at a faster rate for a company like FireEye moving to a subscription platform. But the challenges of contract length make it clear why the metric’s growth faltered in the last quarter.

The uncertainty ahead

The outlook for FireEye must be good enough for the stock rally to continue, but it remains to be seen whether or not the company will provide updated guidance.

If FireEye fails to reassure investors this week, its recent gains could quickly fade. Wall Street expects revenue of $ 220 million and earnings per share of $ 0.02 for the fiscal third quarter, which would be nearly stable from the prior year period. But with FireEye seeing a 7% annual drop in billing last quarter and stagnant deferred revenue growth, the company has its work cut out for it.

Ultimately, investors had better look to others technology names beyond FireEye, which only succeeded running water instead of hitting gas in a growing industry.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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William E. Lewis Jr. & Associates Announces Formation of Credit Repair Component Thu, 11 Mar 2021 06:18:59 +0000

VERO BEACH, Florida, February 25, 2020 / PRNewswire / – The days of obtaining credit, goods, benefits, services, insurance or employment with a low credit rating are long gone. In most cases, an applicant will be refused if they maintain a FICO credit score below 720. Borrowers with bad credit can expect to be turned down completely or to pay higher interest rates than those with excellent credit.

The terms credit repair, credit repair, and credit repair are somewhat synonymous. Those with bad credit cannot afford to ignore the potential benefits of credit repair as a reputation management tool. In today’s world, a high credit score is more important than ever.

About 79% of credit reports contain at least one error or omission that materially affects creditworthiness. As such, it would be wise to explore maintaining a honorable credit repair company in restoring their good name and reputation.

Situated in Vero Beach, Florida, William E. Lewis Jr. & associates is a credit service organization specializing in restoring consumer creditworthiness as well as in identity theft. Using laws passed by Congress to challenge potentially negative, erroneous, obsolete and / or fraudulent information, they help consumers obtain a credit profile.

By using the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act and the Fair and Accurate Credit Transactions Act, William E. Lewis Jr. & Associates will assist in submitting disputes electronically, verbally and in writing to consumer news agencies Equifax, Experian and TransUnion in addition to creditors, collection agencies, third party document providers and state / federal regulators / local / private. Keep in mind that whatever they do, you can do it yourself.

William E. Lewis Jr. & Associates can help update or remove inaccurate judgments, liens, bankruptcies, foreclosures, short sales, student loans, credit inquiries, derogatory trade lines, personal identifiers and more. Unlike most credit repair companies who submit the same written dispute letters every month, William E. Lewis Jr. & Associates has devised a strategy whereby disputes are submitted electronically, verbally and in writing over a three month period to credit bureaus, creditors, collection agencies and third party file providers. Most clients see dramatic results within 30-45 days.

Credit repair, credit restoration or credit rehabilitation as a reputation management tool is as legal as pleading “not guilty” in court. Having said that, it should be understood that as a credit repair business, William E. Lewis Jr. & associates is not a law firm and that none of their employees is a lawyer licensed to practice law in the State of Florida. As such, they cannot provide legal advice or represent a person in court or in legal proceedings. In the event that legal representation is required, William E. Lewis Jr. & Associates can provide an appropriate lawyer referral for consultation.

For more information on William E. Lewis Jr. & Associates, please contact them at (772) 324-6400 or online at

William E. Lewis, Jr.


Press release disseminated by PRLog

THE SOURCE William E. Lewis Jr. & associates

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How long before my car is taken back? Thu, 11 Mar 2021 06:18:59 +0000

If you’re struggling to make your auto loan payment every month, you may be just one step ahead of the repo man. This is not the position you want to be in, especially if you already have a low credit score. So how much time elapses between the day of your fault and when a salvage company goes looking for your car?

The chronology of repossession

There is no time frame set in stone for how long there is between loan default and repossession.

Many people think that you don’t default on your loan until you have missed three months of payments. It’s a myth; in fact, a lender can legally repossess your vehicle just a day after you default on your first payment. However, it all depends on your lender’s policy and the language of your car loan agreement.

Resellers Buy here, pay here (BHPH), known for its lack of credit checks and for meeting the needs of low credit consumers, are more likely to have a recovery team on hold to speed up the repossession process when a customer stops paying. There may be more flexibility in time when financing through a franchise dealership or larger chain.

Before you even have to worry about repossession, you can avoid the situation by staying in touch with your lender. It is up to them to decide whether or not to obtain a repossession order. Contacting your lender before you get there could present you with options you haven’t considered.

How Can Lenders Help You Avoid a Repo?

Believe it or not, most lenders don’t want you to fail to make your payments, nor do they want to repossess your car. The repo process is costing them money. Dealers and lenders who have to resell a repo are usually not able to get as much money out of the deal, which also makes it unattractive to them.

This is why many lenders prefer to work with you rather than repurchase your vehicle. But they can’t do it unless you tell them what’s going on. Communication is the key to success when dealing with a tricky car loan situation, so contact your lender as soon as you think you’re about to miss a payment.

Lenders have some things they can do before things get too far away with your car loan. These options often include defer your loan payment for a period of time, or allowing you an extension of payment. In rare cases, lenders may be able to move your payment due date if your circumstances have changed.

These can help you reorganize, get back on the ground and avoid repossession of the vehicle. However, long-term solutions might be your safest bet if your financial situation gets out of hand.

Avoid a car trade-in

If you’re not late with payments yet, but are having trouble getting the solution you need from your lender, it may be time to look at other options. In some cases, this means opting for refinancing your auto loan.

Refinancing involves replacing your current car loan with a new loan agreement on your existing vehicle. This is usually done to save money on your monthly payment. The most efficient way to do this is to qualify for a lower interest rate. It’s also possible to lower your payment by refinancing to a longer loan term, saving you money month-to-month, but not overall like a lower interest rate would.

To be eligible for refinancing, you, your car, and your loan amount are all must meet certain qualifications. The biggest thing that determines your ability to refinance your auto loan is your credit rating – it must be good or have increased since the inception of the original auto loan to qualify.

Ready to find a more affordable vehicle?

You don’t have to live with an unaffordable vehicle payment, even if you can’t qualify for refinancing. The next option to explore is to trade in your overpriced car for something more affordable.

You can avoid the additional drop in your credit score that accompanies repossession by using your existing vehicle as a trade-in. If there is enough equity in your car, you can pay off your existing car loan and use the remaining money to put a down payment on a more affordable vehicle.

Getting a reliable, affordable car with low credit is possible, as long as you work with the right lender for your situation. Here has Auto Express Credit, we know how difficult it can be to find a way to get the auto loan you are looking for when you are struggling with a damaged credit rating. This is why we have created a network of special finance dealers across the country who are signed up with subprime lenders who can help bad credit borrowers.

Instead of looking across town for a reseller who can work with you, simply fill out our quick, no-obligation, and free form. car loan application form. After that we will put you in touch with a local dealer who would like to help you.

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Carnival Stock soars 20% on Saudi investment and new liquidity assessment Thu, 11 Mar 2021 06:18:59 +0000

Cruise operator in difficulty Carnival (NYSE: CCL) sails higher on Monday after Saudi Arabia’s sovereign wealth fund revealed a large stake in the company and analysts suggested it had sufficient liquidity to survive until November, although it was unable to to navigate ships.

The two new developments pushed Carnival shares up nearly 20% in morning trading.

Image source: Carnival.

Not quite smooth navigation

The Public Investment Fund, Saudi Arabia’s official investment vehicle, revealed that it held 43.5 million Carnival shares, the equivalent of an 8.2% stake in the cruise line. This makes the Saudi government the third largest shareholder. Since the purchase of shares of the sovereign wealth fund raised its stake above a 5% threshold, it was required to disclose the stake.

Carnival was also bolstered by the news that even though it spends around $ 1 billion a month, it has enough money to survive having its cruise ships tied up in port, even in the worst of times. case.

However, given that Wells Fargo analysts see a more favorable scenario developing with at least some of its ships able to sail again this summer, he predicts Carnival will emerge from the coronavirus pandemic in a much better position than many do. thought. Wells Fargo sees Carnival’s earnings take a hit, with negative operating cash flow of about $ 2.2 billion this year, compared to $ 5.7 billion of positive cash flow last year.

Carnival raised $ 6.25 billion in debt and equity last week to get through the crisis. It also suspended its dividend and stopped share buybacks to preserve its liquidity.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Investing has been crazy. The new Fintech seeks to make sense of it all. Thu, 11 Mar 2021 06:18:59 +0000

Opinions expressed by Contractor the contributors are theirs.

You are reading Entrepreneur United States, an international Entrepreneur Media franchise.

As data-driven technology continues to infiltrate our digital lives, what impact can it have on our money?

Virojt Changyencham | Getty Images

Front (an automated strategy platform for everyday investors) and Katapult (a rental platform with an option to buy for low-credit consumers) operate at different ends of the market, but the two are driven by a passion to give everyone more control over their money. .

Katapult– interest charges

Katapult has identified a clear need in an underserved market and aims to help the 55 million underbanked Americans who, according to the Federal Reserve, made up 22% of U.S. households in 2018. Additionally, only 40% of Americans say that ‘They could pay an unexpected $ 1,000 expense, such as an emergency room bill, car repair, or appliance replacement.

Katapult allows low-income people to afford things like new furniture or electronics, using a clear and easy-to-understand capital lease, eliminating the fear of being penalized for late payments or payments. increasing interest charges.

“Many Americans do not have access to traditional financing options due to a lack of credit or bad credit,” said Orlando Zayas, CEO of Katapult. “Our belief is that you are more than your credit score and that everyone should have access to financing with transparent payment terms. ”

Related: The 7 best tools to digitally transform your business in 2021

Before– evaluations

The chaotic markets of the past year inspired the launch of Front, an algorithm-based investment strategy platform to give investors off Wall Street the same level of information to aid in decision making. . Founder Bam Azizi drew on his experience during the 2008 stock market crash to create technology for small investors that gives a personalized risk score for stocks, combining financial valuation metrics with individual preferences and portfolios. current.

The startup has developed a model called FISCO (“Front Investment Score”), which makes investment risk easy to understand by calculating a unique score for each stock. This automates the usual manual process of analyzing a company’s performance, evaluating news for any impact on stock prices, examining financial performance over time, and predicting future changes in value. They then automatically assess the stock’s compatibility with the investor’s current portfolio to give a final percentage score. Their model delivers a result in seconds rather than days. The lengthy manual process can make investors rush into a decision, and Front argues that it allows people to invest with data, not instinct. The app then links the investor to their usual brokerage platforms, like Robinhood and Ameritrade, to buy shares.

Related: Three reasons why VCs should invest in Tunisian startups
“The pandemic has brought unforeseen circumstances that we have never seen before,” Zayas adds. “Some decisions like remote installation and employee support had to be made quickly during the shutdown, but as we have been going through this pandemic on an ongoing basis, we really listened to understand the situation and the weak points in order to that we know how to solve them.

The Front team has always been distant, dispersed, and got things done virtually. Even in a post-pandemic world, Azizi plans to continue hosting most video call meetings. This saves money and the team can focus more on the things that matter, rather than transportation and logistics.

Related: Is Starting A Home Based Franchise A Good (And Lasting) Idea?

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5 tips for getting bad loans in Ontario – Times Square Chronicles Thu, 11 Mar 2021 06:18:59 +0000

Everyone has encountered financial difficulties at some point in their life. Whether it is for medical bills, paying off debts, household expenses and other expenses, many people resort to borrowing to make ends meet. Before applying for a loan, it is essential to make sure that your credit and finances are stable.

Bad investment or economic crisis concept. A businessman is loaned out by partners to adjust his business

Factors such as missed payments, bankruptcies, and high credit utilization can cause lenders to doubt the borrower’s ability to repay the money. Borrowers without a credit score are also a source of uncertainty for lenders, as credit scores are necessary for their lending decisions.

If you have bad credit, here are some helpful tips to remember when taking out a loan.

Understanding Your Credit Score

Before taking out a loan, it is essential to know your credit score first. Credit scores determine if you qualify for a specific loan and what interest the lender will charge you. A high credit score increases the chances that you will be approved for a loan. It also means that you are more likely to qualify for a lower interest rate. On the other hand, a bad credit rating prevents you from borrowing money and also requires payments with high interest rates.

You can tell a great credit score from a bad one by checking this directive explaining two of the most popular credit scoring models.

What is a bad loan?

A borrower with bad credit has negative aspects to their credit history. Having bad credit means that you are a risky borrower to lenders. As a result, it will be more difficult for you to take out most types of loans. If so, you have other options like taking out a bad credit loan. Bad credit is another term for a personal loan, but it is designed for borrowers with low credit scores or those who have no credit history.

Having bad credit means you have limited borrowing options. With a bad credit loan, you can still get funds for emergencies. Like other types of loans, you can repay the money you borrow in monthly installments. However, bad credit loans tend to have special restrictions to ensure that borrowers pay back the money.

Here are 5 tips for getting a bad credit loan.

  1. Find a lender who allows non-traditional credit history

Not having credit doesn’t mean you’re irresponsible. There are many reasons why you might not have one. Things like your age, travel history, and payment methods can lead to a low credit score.

For these reasons, many lenders accept non-traditional credit histories. They check alternative information that can help them with their loan decision, such as utility and insurance bills, rental verification, monthly internet payment, and other bank account activities.

To get a loan with a non-traditional credit history, find a lender and discuss the process face to face to avoid misunderstandings. You can also turn to online lenders for bad debt Ontario. These lenders offer a simple and convenient application process. Most importantly, they look at other aspects of your credit history to determine your eligibility for the loans they offer.

  • Consider peer-to-peer loans

Social lending, commonly referred to as peer-to-peer (P2P) lending, is another user-friendly borrowing option for people with bad credit. Usually, P2P loans take place on accessible online platforms where individuals lend and borrow money directly from each other, instead of seeking help from private institutions.

P2P lending occurs when a potential borrower posts a list of loans on various P2P sites, indicating the amount of money needed and the purpose of the loan. Lenders go through these loan lists, choose a borrower they want to finance, and discuss flexible terms.

This type of loan is a win-win situation for the investor and the borrower. Borrowers pay low interest rates based on their credit rating, while lenders receive high interest rates.

  • Look for a credible co-signer

If your friend or family member cannot lend you money, you can ask them to be your co-signer. Having a guarantor means that he is responsible for the payments if you cannot pay them. The interest rate will depend on the credit rating of your co-signer. If your co-signer has an excellent credit rating, it will be easier for you to get a loan on better terms.

However, asking someone to be your cosigner can also be risky for your relationship. There are many cases where the borrowers default on the loan and transfer the responsibility to the guarantor. Choose a guarantor who knows and trusts you to repay your loan on time.

Additionally, payments made on the co-signed loan will be reflected on both parties’ credit reports. If you miss or delay your monthly payments, this will also be recorded on your co-signer’s credit report. Hence, make sure that your payments are on time.

  • Try to join a credit union

A credit union is a great choice for people who have been turned down by a bank due to bad credit. It is a non-profit organization that looks like banks but is owned by members who have things in common, like living in a specific area.

Unlike banks, credit unions are more forgiving and are willing to allow borrowers to take out bad loans taking into account other factors such as where they work and live instead of their credit rating.

In addition, credit unions prefer to help other members achieve their goals rather than please shareholders. They also provide advice, financial education, and advice to improve your long-term credit score.

  • Consider taking a secured loan

Some lenders allow borrowers to take out a loan despite bad credit, as long as they are willing to secure the loan amount with certain types of assets. Cars, homes and real estate, as well as savings or investment accounts could be collateral, which means you can lose them if you haven’t paid off the loans.

For example, you can take out a secured loan and give your car as collateral. Once you are unable to pay the money you borrowed, the lender will foreclose and take possession of your car.

Take away food

Don’t let bad credit keep you from getting a loan, especially when you are facing emergencies. While it’s true that lenders will view you as a riskier borrower because of your poor credit history, there are still plenty of options available to help you get your finances back on track.

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Why Chinese stocks are falling today Thu, 11 Mar 2021 06:18:59 +0000

What happened

Chinese stocks traded lower on Thursday, although the country’s health ministry said earlier today that the country has passed the peak of the coronavirus outbreak.

This did not stop the actions of Weibo (NASDAQ: BM) to trade down more than 9% on Thursday afternoon, and the shares of Baidu (NASDAQ: BIDU), bilibili (NASDAQ: BILI), Lucky coffee (OTC: LKNC.Y), and iQiyi (NASDAQ: IQ) of all trade down more than 7%.

So what

These companies are all engaged in different activities, but all focus on China. Baidu is the leading Chinese Internet search provider, while Luckin is a growing Asian coffee chain, Bilibili and Weibo are social media platforms, and iQiyi is focused on video streaming.

A collection of Chinese stocks since the start of the year given by YCharts

Like American start-ups, many of these companies are growth mode right now, and as the novel coronavirus swept through China and slowed the country’s economic momentum, it certainly took a toll on the short-term results of these companies. However, most of those US-listed stocks have held up well to the Chinese side of the coronavirus story and have only been hit hard in recent weeks as the outbreak spread globally.

Luckin Coffee, the outlier on this list in terms of reliance on traditional retail stores and consumers in public, is also the only one of those stocks to have been hit hard in late January and early February. Bilibili shares, on the other hand, are still up for the year, albeit down from the highs reached in February.

Now what

What can an investor get from this price action? This could indicate how much the recent drop in stocks has been fueled by sentiment, not fundamentals. Even though the epidemic has passed its peak in China and the country is starting to return to normal, those Chinese stocks that trade in the US remain under pressure as the novel coronavirus is at the center of the minds of US investors trading. the actions. .

A discouraged investor bows his head at a downward trending stock chart.

Image source: Getty Images.

That’s not to say that the impact of the novel coronavirus won’t be substantial and won’t affect businesses in the United States and China. But if this indicates that much of current sales are driven by sentiment, it suggests that as the Western world begins to curb the outbreak, markets should stabilize. On the flip side, it also suggests that the selling could continue as long as the epidemic rages on, even if individual stocks appear to be oversold.

All of these companies, like their American counterparts, will need time to calculate the damage to their businesses caused by the novel coronavirus. For now, the goal of investors and governments is to stem the epidemic as quickly as possible.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Credit scams to watch out for Thu, 11 Mar 2021 06:18:59 +0000

At least once a month there is a story in the news involving various credit scams and their victims. If this happens to you, repairing the damage can be very time-consuming and inconvenient, so it’s important to avoid credit scams before you fall victim to them. This article will describe some of the most common scams and what you can do to protect yourself.

Key points to remember

  • Credit scams are very common and require consumer awareness and diligence to avoid becoming a victim.
  • Fraud can simply involve a loss of money, but many scams are designed to steal the identity of consumers.
  • Common sense is often the best defense – never respond to someone posing as an authority over the phone or online asking for payment – especially by gift card.
  • If you suspect fraud or think you have been scammed, you can file a complaintwith the Federal Trade Commission.

Credit Repair Scams

Ads in newspapers and on TV talk about credit repair services that promise, for a fee, to wipe out bad credit or fix bad credit. The problem with the promises made by these credit repair companies is that no one can legally remove negative credit information from a credit report. Most of the time, these companies collect thousands of dollars from people and just disappear with the money. The only legitimate way to fix bad credit is to pay off any debt owed.

If you can’t afford to pay off all of your debt, contact your creditors and ask them to set up a payment plan for your debt. If you’re having trouble making a payment plan with your creditors, contact a credit counseling agency. You can get a free copy of your credit report each year from each of the credit bureaus at If there are any errors on any of your credit reports, contact the consumer reporting companies (Experiential, Transunion and Equifax) directly. Otherwise, if you don’t have time to contact all three credit bureaus and are willing to pay a fee, one of the best credit repair companies can do this on your behalf.

Advance loan

An advance loan scam usually involves a lender making false promises to interest. The lender often charges an upfront fee from the applicants to arrange these bogus loans. Sometimes the lender collects information from the applicants and applies for a legitimate loan. Later, the lender tells the applicant that the loan was refused and they disappear with the money and the identity of the applicant.

No one with bad credit can get low interest loans from legitimate lending institutions. Because they are not sure of the chances of getting their money back, creditors are reluctant to issue low interest loans to applicants with low credit. Usually the only way to get a loan if you have bad credit is to have higher interest rates.

Credit insurance scams

Credit insurance is offered by loan and credit card companies. The purpose of insurance is to protect debtors who cannot repay their loans or Credit lines in the event of death, disability, unemployment or health-related emergencies.

There are fraudulent companies that offer credit insurance at a lower price premium lending institutions would generally offer. The problem is that these scam organizations collect the premiums and never fulfill their obligation when the customer is legitimately unable to repay a loan. To protect yourself, make sure you research a business well and that when signing loan documents, make sure that credit insurance is optional and that a cancellation policy exists.

Unauthorized billing

Individuals can set up automatic payment schedules with different companies so that various bills are deducted from bank accounts or collected from credit cards. This method of paying bills is very convenient and also very risky. There have been many situations where companies increase monthly fees or introduce new fees without notifying their customers. You have to be very diligent about bills and credit card statements. Taking the time to carefully check statements with known expenses can be a bit of a nuisance, but it will help you notice discrepancies earlier, which could go a long way in successfully disputing those payments.

Identity theft

Identity theft occurs when a person illegally obtains sensitive information, such as credit card numbers and Social security numbers (SSN) and receipts for borrowing, applying for credit cards or making purchases. When the scammer defaults on a loan, the true owner of the identity is contacted by the creditors and held accountable for the loans. TO avoid being a victim of identity theft, it is important to take care of personal information. Some preventive measures include:

  • Review credit reports at least once a year. All three consumer information agencies are required by law to provide you with a free copyof your credit report once a year. Just go to to start the process.
  • Destroy all documents containing information such as account numbers and social security numbers. Buying a grinder is not very expensive and it will save you a lot of hassle.
  • Consider using one of the best credit monitoring services to monitor suspicious activity on your credit reports. Several of these services also offer identity protection tools.
  • If you are already a victim of identity theft, you can find instructions on how to file a dispute by going to the site Federal Trade Commission website.

File segregation

File segregation is a system that provides a new credit identity to a person who has gone bankrupt on their credit report. Usually, the scammer offers the victim a new social security number or a new employer identification number (generally used by businesses) and asks the victim to fill out the loan documents using the new numbers. What the scammer does not tell the victim is that obtaining a new credit identity is illegal and punishable by law.

The crook lures the victims by saying that having declared bankruptcy makes it impossible to obtain loans and credit cards for up to 10 years. Even though a bankruptcy will in effect remain on your credit report for 10 years, you still have the option of obtaining loans. Different legitimate creditors have different criteria for choosing clients and they may offer a loan at a slightly higher price. interest rate than normal at someone who went bankrupt.


Phishing is a fraudulent process of attempting to acquire sensitive information, such as usernames, passwords, and credit card details, by impersonating a reputable organization in an email or by duplicating legitimate websites and tricking unsuspecting victims into entering their sensitive information. Here are some protective measures you can take:

  • Beware of websites that appear from an email asking for sensitive information.
  • Most banks and lending institutions have legitimate websites. If you need to do business with them online, go straight to the website by typing it in and don’t follow any links you are unsure about.

Phishing and Identity Theftscams often occur during tax time and can involve fraudsters pretending to be IRS-owned and demanding payment of unpaid taxes – often in the form of a gift card. The IRS saidthat they do not come into contact with taxpayers by phone, email or social media and communicate only through the US Mail.

If you are already a victim of phishing or if you suspect that a website you have visited is fraudulent, contact the real company and freeze your accounts if necessary. Also, be sure to change your passwords for all of your online accounts.

Homework programs

Some scam websites offer the Secret to Success or a list of legitimate work at home laundry jobs. Sometimes a company offers a job with the company and a “get-rich-quick” promise. Often times, the company asks for a fee and specifies that the fee must be paid online with a credit card. The company then steals the credit information and uses it for fraudulent purposes. If you need a list of work from home opportunities, there are websites that offer them for free. One fact that you should always remember is that no legitimate company will charge a fee for hiring you.

Online Dating Programs

Strange as it may sound, fraudulent activity is also perpetrated by online dating sites. The FTC estimated that consumers lost more than $ 200 millionto online dating programs in 2019. These sites typically charge a fee for their services, and in addition to collecting a fee, they steal user information from their services. There are both legitimate and scam dating sites out there, so always conduct a thorough investigation before choosing one and paying for these services online.

Lottery scams

This scam occurs when a consumer receives an email message informing them of a lottery or contest that they may not remember participating in. The email often requires the consumer to pay a nominal fee using a credit card in order to access the earnings. The scammer collects the fees and the credit card number and disappears. No legitimate lottery transaction will ask a winner for any fees or information such as a credit card or bank account number.

Be careful

Recovering from the effects of a credit scam can be slow and very tedious. As the saying goes, an ounce of prevention is better than a cure, so always be sure to protect yourself and any sensitive information. For more information on the various credit scams, how to protect yourself from them, and what to do if you are the victim of a credit scam, visit Federal Trade Commission website. You can also file a complaint with the FTC online.or by phone.

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Speed ​​Up Tracking Your Mortgage After Covid-19 Lockdown Thu, 11 Mar 2021 06:18:59 +0000

With increasing competition for homes, fewer mortgage offers available, and now the potential for rising rates, borrowers need to know how to put themselves in the best position to secure their next home.
Buyers with 5% or 10% down payment or equity may either seek to accelerate an application to one of the few lenders in the market (if eligible), or seek to increase their deposit and have more choice in the market. For example, improve your 85% LTV increases the number of mortgages available to 347. However, saving time potentially double your existing deposit is not quick to do. Those looking to purchase a new construction property may benefit from a Government loan purchase assistance – this lends the borrower up to 20% of the value of the property. Helping a family member is one of the most common ways to quickly increase a deposit, either through a mortgage surety using the security of a relative’s property or as a cash gift that increases the buyer’s deposit so they can get a mortgage at a lower LTV. Family members who use their property as collateral for a guarantor mortgage put their home at risk of repossession if the mortgage is not paid in the future.
Those who are ready to proceed with their mortgage application now can follow our checklist below to keep moving their application forward:

  1. Eligibility – Check basic mortgage eligibility and costs using our mortgage tables, then contact pre-selected lenders to verify details.
    Book a mortgage interview with the lender – the sooner the better and no need to wait for an offer to be made on a property. This will identify any issues early on and help prepare the documents for a full application.
  2. Book a mortgage interview with the lender – the sooner the better and no need to wait for an offer to be made on a property. This will identify any issues early on and help prepare the documents for a full application.
  3. Obtain an agreement in principle (AIP) – this is not a confirmed agreement to lend you money, but it can help show sellers that you are a serious buyer. You can get an AIP online from some lenders eg NatWest Where RBS.
  4. Prepare the papers – once an offer is agreed upon on a property, a mortgage application can be completed, and those with no missing details are often processed more quickly – see a list of documents required for your mortgage application.

In some cases, buyers can go from stage one to stage four in a matter of hours or days. A mortgage broker can be a useful shortcut for all of these steps, especially the first ones, as they usually know the criteria and requirements of lenders from experience.

If a borrower’s circumstances change at any point during the process, the mortgage application will need to be reviewed, which may take longer. Borrowers who are aware of any future changes should share it when applying, so this is taken into account from the start.

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