The bulk of consumers who have a low credit score don’t take action (or at least don’t take the RIGHT action) in order to improve that score. Some people don’t know how low their credit score has become because they don’t take advantage of their yearly free credit report. Other consumers know that they have a low credit score but are not sure how to go about fixing it.

For the group of consumers that DO take action, good for them. When you take the right kind of action, you will produce the desired result, which is a higher credit score. Paying money to a credit repair service firm is usually a waste of money because they can’t do anything for you that you cannot do for yourself to repair your credit. Save yourself the fees charged by a credit repair agency because they won’t be doing anything for you that you can’t do yourself. Something to avoid is hiring an attorney to help you fix your credit (unless you have some legal issues that are affecting your credit score). A credit repair attorney is not a wise investment because they can’t do anything for you that you cannot do for yourself in repairing your credit.

If you start with a good credit repair guide book you will start off on the right path and avoid the “rookie” mistakes that others might make. The Credit Secrets Bible is one of the oldest and most respected do-it-yourself books in the credit repair category. The book will take you through each step of the process of credit repair using plain language and techniques that have worked for thousands of people that have already used the book. The system works and it is simple.

In addition to showing you how to improve your credit score, the Credit Secrets Bible also shows you how to maintain your improved score so that you don’t have to go through the process again.

The included templates are very useful for corresponding with the credit reporting agencies plus companies you owe money to. These templates are very valuable because that use wording that has been tested and revised, and works to maximum effect.

Start fixing your credit score yourself. All it takes is going out and getting started. There is nothing that you need to be hesitant or intimidated about.

Over recent years credit cards have become increasingly popular amongst consumers, and this is because they provide a simple, effective, and convenient method of payment that is more secure than cash or cheque. You do need to make sure that you exercise caution with regards to how you use your card and which card you use, as you could otherwise end up paying more than you need to on your finance.

In order to make the most of your credit card and avoid the costly fees and charges that can come with credit card use it is vital that you exercise caution with regards to how and where you use your card. You should always try and pay more than the minimum repayment each month on your credit card balance, as otherwise you could be charged a fortune. If you are able to pay off the balance in full each month then you won’t have to pay any interest at all, yet you won’t have to compromise on the convenience and ease of using your credit card.

Using your credit card to withdraw cash or make cash transactions can also result in high charges and fees being applied, so don’t use your card for these transactions unless urgent. You should check with your credit card provider with regards to what may be construed as a cash transaction but this may include online gambling, payment of bills, and the purchase of gift cards or vouchers.

Many people decide to use their credit card whilst overseas, and this can also result in increased fees and charges from the lender. You should be very careful, therefore, when you are using your credit card abroad. To avoid a shock bill at the end of your trip find out before you go what sort of foreign transaction fees and charges are applied by your credit card provider.

Over the past twelve months the base rate in the UK has gone down massively yet the interest rate being charges on many credit cards has continued to rise. Taking this into consideration if your credit card rate is hiked up suddenly then it may be worth contacting the card company, as some will drop the rate back down if the consumer questions it.In cases where the lender is not willing to budge on the interest rate you can simply switch to another card provider, and get a lower rate of interest that way.

Another way to save money on your credit card spending is to ensure that you choose the right card, as this can make all the difference to how much your borrowing costs. For example, using any interest free credit cards or balance transfer credit cards could help you to avoid paying interest on your credit card borrowing costs. To find the right card and save money on your borrowing consider using one of the various credit card comparison sites that are available today, as they make it quick and easy to find the right card for your needs.

In times like these, every business dollar has to count and the loss of any cash out the back door by way unpaid accounts places needless pressure on the business cash flow.

The provision of credit remains the foundation of the `Money Go Round’ for New Zealand businesses, enabling one entity to do business with another while providing goods and services on a basis of trust, but those goods and services must still be paid for within an agreed time frame if the business is to survive, and avoid using any form of Debt Collection

In a perfect world it’s a great arrangement – that is, until the unscrupulous take advantage and break the rules forcing the business to protect its income by minimising its exposure. To protect itself, a business must take steps to reduce loss caused by customers who do not pay on time, or in some case fail to pay at all.

However, It never ceases to suprize me how the importance of the Credit Application is and the way some businesses are all too often prepared to spend more on other processes instead. The businesses are often left open to exploitation due to lack of terms in the document, or when there is no formal document at all.

To have an effective and profitable business long term they must be able to have an effective for of debt control to avoid using the services of a Debt Collection Agency, which is something that should be considered if clients are not paying on time.

Debtforce is a Collection Agency (Debt Collection NZ) based in New Zealand

There are a number of professional debtors who are experts at exploiting the weaknesses of a company’s credit agreements and its credit approval processes which often allow the debtor to walk away from overdue accounts. Unfortunately, in such cases, the law does not view such matters in the same light as shop theft, for instance, though in my opinion, it is much the same.

If you’ve ever taken out a loan, mortgage, credit card or store card, or bought something on credit, then the chances are you were sold Payment Protection Insurance (PPI) at the same time.  The idea is that PPI covers your debt repayments if you can’t work because you become ill or have an accident or if you are made redundant.

Beware!  Most policies won’t cover you for conditions such as back pain or stress and if you’re on a short-term contract or self-employed, you may not be covered for any redundancy claim. PPI linked to mortgages, credit cards or store cards usually pays out for a limited amount of time only. On some credit card PPI, the insurance covers only the minimum monthly payment, meaning your balance may never reduce!Most PPI policies only last for five years, so if your loan or finance agreement term lasts for longer than this, you are paying interest on insurance that has long since expired! That’s like paying for office insurance even though you moved out and are no longer working there.

Aside from being ineffective, PPI is also expensive!   Adding PPI to a £7,500 five-year loan could cost an additional £2000-£3000.According to a recent Citizens Advice Bureau survey, Payment Protection Insurance can add 20% or more to the cost of your credit agreement and since it’s estimated that there are over 20 million PPI policies in force throughout the UK generating almost £5 billion worth of premium income for the insurers!

That CAB survey also found that 85% of people who had attempted to claim on their policies had been refused.  Worse still, in June 2008, the Competition Commission found that average insurance payout ratios were:  Car Insurance: 78%, Home Insurance: 54%, Mortgage PPI:  barely 28%, Personal Loan PPI: a depressing 15% and Credit Card PPI:  a miserable 11%!

So how can you tell if you’ve been mis-sold a PPI plan and what can you do about it?The main difference between sales before and after regulation is that all sales before regulation were ‘non-advised’ because the ‘advised’ regime didn’t start until regulation was introduced.

But if you were sold PPI before 14th January 2005, most firms or advisers would be still covered by a code of practice set by the Association of British Insurers (ABI), the General insurance Standards Council (GISC) or the Finance and Leasing Association (FLA).All three codes of practice required advisers to provide information at the time the insurance was taken out to help you decide if the policy was suitable for you Even then, advisers and firms had to cover the same points as they must cover today according to the current rules.

There’s a good chance you were indeed mis-sold (and can therefore recover your hard earned cash) if you can answer ‘NO’ to one or more of these questions:

•    If the insurance was optional, was that made clear to you?
•    Did the adviser infrom you of any significant exclusions under the policy (like pre-existing medical conditions) ?
•    Did the adviser make it clear that you would have to pay for the insurance up front in one single payment and did you know you would be paying interest on it?
•    If your loan or finance agreement was for longer than five years, did the adviser tell you that the insurance would run out before you had finished paying for your loan or finance agreement?
•    Did the adviser tell you that you would keep paying interest on the insurance premium, even after the insurance had expired?

Make sure you always consult experts before you take out any form of personal or businesses insurance.

Do you have a credit card? If so, chances are that you are not using the best one relating to your situation. Read on to help you choose the best credit card.

For instance, a card used for 0% balance transfers will not necessarily be the best credit card for regular purchases, or one used to get cash back might actually work out more expensively than a low APR card.

Let us examine the three major reasons why people use credit cards:

Balance Transfers
It has become commonplace to switch credit card providers based on the length of the 0% balance transfer deals they offer.

If you have a large outstanding balance on your credit card and are going to pay it off over many months or even years, then taking advantage of the different balance transfer deals on the market is the best thing to do.

Purchases
This is mainly what people use their credit card for and if you are only going to use your credit card for purchases you need to find the one with the lowest APR (interest rate).

Some people might ask why not take advantage of a 0% purchases credit card deal. Well, it really depends on the normal credit card APR and how long you plan to use the card. What if the 0% purchases deal expire and all of a sudden you have to pay 18% APR when you could have applied for a card with no 0% purchases deal, but 12% APR? Which one would you rather have?

Cash Back or Air Miles
This one is quite difficult, as people reason that they are already spending the money on their card, so why not get rewarded for it? Well, normally these types of credit cards have a fairly high APR.

Let’s use an example: Say you have to choose between two credit cards, one that has a cash back offer and one that does not. Easy choice, right? However, say the cash back card pays you $1 for every $100 you spend and has an APR of 15.9%. The other “normal” card has an APR of 13.9%. Now the normal card is the best choice, unless you pay off your balance every month and do not pay any interest.

Then you also get all the hybrid cards. Some cards might have 0% balance transfer and 0% purchases deals. Others might have a low APR for the life of balance transfers. This is where you need a really good guide to show you all the different factors when considering applying for a credit card.

So when choosing a bad debt credit card, don’t just apply for the first one you come across. You need to decide what the card will be used for and then check all the factors that will impact this. Don't let things you have missed like high APR or high default fees make you regret your choice!