Your credit scores can affect the insurance quote and insurance policies
By financen | December 29, 2008 - 5:45 pm - Posted in Credit Score, Insurance

Are you sure of paying all your previous bills in time? Most of the insurance companies will like to know such details before offering any quote. The insurance companies will use your three digit credit scores to determine the kind of insurance plan offered to you. The cost of the insurance policies will also be calculated on the basis of your credit scores. The premiums on your insurance policies may double if you have missed a couple of payments on your credit cards or other financial obligations. Regardless of your sound business relation with the insurance company, you might lose your policy if the credit scores keep moving down in the course of time.


Many people are surprised to know that the insurance policies and the premiums have some kind of connection with the credit ratings or the credit scores. Most of the insurance companies feel that if you are not responsible with your money, then you are more than likely not going to be responsible on the road also. People who manage their personal finances properly tend to manage other important aspects of their life with the same level of responsibility. Most of the insurance companies will definitely review this factor before offering any kind of insurance policy.

There are many people, especially the ones having low credit scores, feel that credit scores for an insurance quote or insurance policy premium is unfair and hurts only the working class. Opponents argue that the low economy has put a strain on the large amount of working group. Missing a couple of payments due to a tight financial situation is often possible and because of this, the premiums should not go high. There are so many areas where public transportation is not readily available and insurance is a must. People who are already going through tough financial situations and are hardly able to make ends meets will be severely affected by the increased premiums and will fall even further behind.

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Bankruptcy knowledge is power to your financial health
By financen | December 22, 2008 - 6:29 pm - Posted in Bankruptcy

When people are overwhelmed by their existing debt related problems and have no ways to come out of this stress, filing for bankruptcy is considered to be the best option, even though it will severely impact your credit scores. Before filing for bankruptcy, you may consider a debt consolidation or a debt settlement program if one of these programs can solve the debt related problems. If all possible options have failed, then bankruptcy is the most beneficial choice. It’s very important that you get the accurate information regarding the process of filing bankruptcy.


Bankruptcy is decided at a certain point of time while you are deciding to settle the debts with your creditors or while you are incapable to meet the financial obligations. There are different types of bankruptcy and for that reason, it is especially vital to be acquainted with the fine points concerning assorted types and the most beneficial type to select. Filing for bankruptcy has its own set of advantages as well as disadvantages, so the individual should be well aware of his requirements according to his current situation.

Most of the people in debts either file for chapter 7 or chapter 13 bankruptcy. Chapter 7 is acknowledged as insolvency schedule. The assets of the individual are liquidated in this process and the rest of the balance is discharged. You can be free of all your debts within 4 to 5 months. Chapter 7 assists debtors with serious insurmountable debts.

Chapter 13 bankruptcy is another type of bankruptcy where a certain payment plan is worked out with the help of the bankruptcy trustee. This type of bankruptcy is good for those people who want to re-organize their pending debts, with a fixed payment plan over a certain period of time. You will not have to liquidate your assets in this type of bankruptcy. Before you apply for chapter 13, make sure that you have a good source of income so that you can pay off your debts in a payment plan in addition to dealing with the costs. Browse through the internet and you will get adequate knowledge on different types of bankruptcy and ways of filing for it.

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Have fun within your family budget
By financen | December 4, 2008 - 6:27 pm - Posted in Budget

Due to the recent downsized economy, most of the families are cutting back on their spending habits. A lot of hard work is required when you are trying to make a living within a restricted budget. One has to work overtime if it is offered, or work a second job. Expenses are also minimized by cutting back on travel, groceries, dining out, movies etc. Due to this, many people start comprising with their happiness in life and don’t have fun. There are ways to enjoy and have fun within a fixed budget.

Clip and use coupons from the newspaper or the internet or both. Beware of the sites that ask for a membership fee. Keep on purchasing the items that you do regularly and never know, you will get some good offers and save more money.


Shop online when it makes sense. Sometimes, you will get a better deal on an item on the internet but make sure that you are aware of the shipping costs. If the same item is available in the store in your area and will cost less, then it does not make sense to purchase that item on the internet and pay the shipping costs.

Eat out sparingly. Eating out in restaurants and other places is always going to cost more and then you will have to think about your health also. You can do a lot of savings by eating regularly at home. Occasionally, when you go out, try to avoid the expensive buffets. There are some low costs buffets serving quality food.

Watching movies in a budget theater. Many cities have discounted movie theater that shows movies after they have been shown at the main stream theaters. Another option is to attend a matinee show or the morning show where the ticket prices are lower from the evening shows.

Zoos, mini-golf, water parks, skating rinks, etc. almost always have a time when admission is discounted or downright free. Take advantage of these days when they come up. When practical, take a picnic lunch and extra bottles of water. Again, avoiding concessions as much as possible will save you money.

There are some great ways to have fun on a budget, and these are just a few. You will find more ways to enjoy in your life and stay happy.

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