Great Tips To Help You Repair Your Credit

Throughout the course of your life, you will find some things to be incredibly easy, one of which is getting into debt. Whether you have student loans, lost the value of your home, or had a medical emergency, debt can pile up in a hurry. Instead of dwelling on the negative, let’s take the positive steps to climbing out of that hole.

The minimum credit card payment is not all you can pay, try to pay over that amount. Paying higher than the minimum payments looks excellent on a credit report and will contribute to a higher FICO score. It also helps your finances by lowering the amount of interest you are paying which will save you money.

Use online banking to automatically submit payments to creditors each month. If you’re trying to repair your credit, missing payments is going to undermine your efforts. When you set up an automatic payment schedule, you are ensuring that all payments are paid on time. Most banks can do this for you in a few clicks, but if yours doesn’t, there is software that you can install to do it yourself.

Dispute your credit report mistakes via a letter, NOT online. Courts ignore online disputes and you will end up losing if it gets to that point. Go the traditional method and send them a dispute letter via snail mail, then keep every letter they send in return as a paper trail is important.

One of the biggest things you can do to repair you credit is to make all your payments on time. Each time you miss a payment your credit score decreases. By paying on time for an extended amount of time you are showing stability and your credit score will increase accordingly.

Credit repair takes time, there is no quick fix. If there are negative marks, there is nothing you can do except wait for them to fall off. As time goes on, the negative marks will count less against your score, but they won’t go away. It also takes time to show you can pay your bills on time and can do the positive things it takes to show you are reliable.

An important tip to consider when working to repair your credit is to call your credit card companies and ask them if they would be willing to raise the limit on your credit cards. This is important because this will increase your total available credit and therefore work to improve your score.

A home foreclosure can have an extremely negative impact on your credit. A foreclosure will stay on your credit record for seven years and will greatly hinder your ability to obtain any new credit. If you have credit problems or trouble making payments, try to negotiate with your lender to obtain alternative payment plans and avoid foreclosure.

A great way to improve your credit rating is to ensure that you always pay your monthly credit card payments on the day that they are due. If you can not afford to pay off your balance every month you should ensure that you at least pay the minimum payment. Making your payments on time will ensure that your credit remains in good standing.

In conclusion, bad credit is a burden. Bad credit is caused by debt and denies people access to purchases, loans, and jobs. Bad credit should be repaired immediately, and if you remember the information that was provided in this article, then you will be on the right path to credit repair.

Storage Options – For Your Precious Metals

Lately, many people in the world have been closely watching and reading the news reports concerning the current global economic situation. The European and American debt situation is now going out of control. It’s fueled by all the governments involved, constant deficit spending habits and lack of will to pay the money back. The Central Banks answer, simply to print more and more money. Many people these days are concerned and have decided to preserve their wealth by purchasing physical precious metals such as gold and silver in either coin or bullion form. These people however also will need a safe and secure place to store their precious metals.

Keeping your silver and or gold precious metals safe from theft will of course be the most important reason for obtaining secured storage when you’re buying precious metal. Let’s review what storage options for physical precious metals are available in detail.

Safety Deposit Boxes

Here is one way an investor might think they’re getting the best deal in town as rental fees for safety deposit boxes are inexpensive on an annual basis. However you should never store any precious metals inside safety deposit boxes that are located within a bank vault for the following two reasons.

1. Contents stored inside safety deposit boxes are usually never insured, no one but the owner knows its contents.

2. In the event your bank fails due to another financial or economic crisis (highly likely if the dollar goes bust) the banks doors will be locked, it could be months before you have a chance to get into your safety deposit box. At this time, it is also likely nothing will be left in your box due to reason number one.

Home Storage Option – Safe’s

Many people want to keep their precious metal purchases at home for any number of reasons. If you choose this storage option it is wise and important to select a high quality, high security – burglary /fire rated safe of an appropriate size to meet your personal storage requirements. Most of these safes will have anchor down holes pre drilled so they can be anchored into the floor. It is wise to choose an appropriate place for your safe to be placed and anchor it down. Don’t expect some safe on sale at a local home center from $200.00 to $500.00 to guarantee the safety and security of your precious metals stored within them.

It is also highly advised to consult with your insurance company first, to see if you can obtain fire and theft coverage. It would not be a wise idea to store your investment in your home uninsured, but the ultimate decision of course would be yours and yours alone. Never let anyone know your storing precious metals in your home.

Precious Metal Depositories

These are private vaults operated by companies where you can have your coin or bullion stored either on a monthly basis or long term on an annual basis. These vaults are 100 percent secure and will include insurance to cover against theft, fire or other natural disasters. You will find depositories located in the United States as well as other countries such as Zurich Switzerland, Hong Kong or London. Two well known precious metal depositories are Brinks and Via Mat. There are three different types of storage options available that include non-segregated storage, non-segregated allocated storage and fully segregated storage.


Segregate – (v) to separate or set apart from others of the general mass, to isolate or divide.
Segregated Vault Storage – (n) type of vault account where one’s holdings are separate, excluded, and apart from others.

Non-Segregated Storage

With non-segregated storage means your gold or silver coin or bullion will actually be stored along with other people’s gold and silver in the same vault in the same place. For example your investment might be a fraction of one 400 ounce gold bar. Someone else might own the rest of that bar or a group of other people will own portions of that same bar. Your investment is not clearly defined by a certificate of ownership. However this is the cheapest storage option for insured vault storage available. However it is not a recommended choice because you really do not want your metals mixed with other people’s metals.

Non-Segregated Storage/Allocated

This means that while your metals are stored with other people’s metals your metal is only in your name. You are issued a certificate of ownership. This clearly states where your metal is located and by serial number what portions of that bar or bars is yours. Therefore your metal investment is clearly defined. If you cannot get allocated storage do not use this type of storage. On the other hand if it is allocated then you will have the benefit of safe, secure, insured storage but at a reduced storage price. Do understand however you’re sharing your space with other people’s investments. This is a very good option for someone looking to save money in storage fees but still have a very high level of safety and security for their investments.

Segregated Storage

With Segregated Storage your gold or silver coin or bullion will be stored in an individual section or area of the vault and your gold or silver separate from or not mixed with precious metal owned by anyone else. You will have a certificate of ownership designating you as the owner of the metals stored in a specific location. This is the best option for precious metals storage available, however at a higher cost.

Tom Genot –

Investors Must Keep Time on Their Side

Time is such a valuable commodity that it’s a shame when investors squander it. Yet many investors do, wasting a resource that can’t ever be recovered.

Time is an investor’s most valuable ally because returns increase exponentially over time — as close to magic as most of us will ever see.

Investment returns increase exponentially over time, which is as close to magic as most of us will ever see.

To see just how valuable this element is, consider the case of a 20-year-old wishing to retire at age 60 with $1 million. Assuming an 8% return, future millionaires in this category need only deposit $3,574 per year ($68 a week) to reach that goal. Over their 40-year careers, they will deposit only $142,969; the balance will come from earnings on the account.

Every day these investors wait to get started costs them in annual deposits and total deposits over their career. The longer they wait, the more likely it becomes that they won’t reach the goal.

Avoid these common mistakes to keep time working for you:

Raiding the retirement account

A disappointingly huge percentage of workers fail to roll over their pension and profit-sharing accounts when changing jobs, instead using the funds for everything from vacations to new cars. It’s especially important to keep all your retirement accounts at work. While the amounts may seem relatively small, left to accumulate tax deferred in an IRA they will grow to substantial amounts. For instance, $10,000 left to grow at 8% for 30 years will be worth $100,626 when it’s needed for retirement.

Taking a flier

Some delusional investors rationalize that a series of high-risk investments will average out over time and that a loss today can be made up by tomorrow’s gains. These serial losers buy into one deal after another that sounds too good to be true, hoping for a huge payoff. This gambler’s mentality has almost nothing to do with investing, and rarely leads to anything but financial ruin.

Concentrating investments

Anything less than a fully diversified portfolio magnifies risk without increasing expected return. No investor should ever bear a risk that could be diversified away. They can’t afford for all or a large portion of their savings to vaporize. The more concentrated a portfolio, the more opportunity for something awful to happen. (Just ask any Enron employee how he likes his company stock now.) Avoid sector funds, individual stock holdings and funds with concentrated positions.

Keeping your funds in play with reasonable investment strategies and constant discipline is just as important as starting early. Blowing your nest egg up along the way destroys your most valuable alley in the quest for financial independence.