How to Rebuild Your Credit Using Services of Subprime Lenders and Payday Loan Companies?

A lot of people can find themselves in a very difficult situation simply because they made some financial mistakes in the past. A lot of prime financial institutions require you to have high credit score and spotless credit file to be eligible for low interest lines of credit or even for a credit card. But what about consumers that made bad financial decisions, overextended their ability to pay back their creditors and had to file for bankruptcy? Even if you had to go through credit counselling services and paid back your debts, but did not fulfill your contractual obligations with your creditors, you credit worthiness is ruined.If you’ve gone through a bankruptcy and credit counselling program, you will have to rebuild your credit before any kind of credit will be extended to you. Rebuilding your credit can be a lengthy process and requires time and patience. First thing that you should do is to obtain your credit file from main credit reporting agencies. There are two main credit reporting agencies which are: Equifax and Trans Union. Obtaining your credit report is not a very difficult procedure and can be done instantly online for a fee between $15-$40 dollars or free of charge by mail. In order to obtain you credit report by mail you will need to fill out an application form (that can be downloaded from transunion.ca and equfax.com) and attach 2 pieces of id and a utility bill. You can either mail or fax your application to credit bureaus. It usually takes 7-10 business days to receive a copy of your credit file by mail. Once you get a copy of your credit file you should look for any discrepancies. If you declared bankruptcy and were discharged, all former creditors have to stop reporting to the credit bureaus after the discharge date.The same should happen to any collection items if any have been reported on your credit file. If you find any discrepancies you can download and fill out a dispute form from transunion.ca and equifax.com and submit it to the credit bureaus. Credit bureaus have to investigate your dispute and make appropriate corrections in your credit profile. Once all the discrepancies are eliminated, you will have to wait some time before all previous activity is removed from your credit file so you can start rebuilding your credit from scratch. If you went through a credit counselling program, it will take about 4 years after your program is completed for all the R7 accounts to be removed from your file. If you filed for bankruptcy it might take up to 10 years for the bankruptcy to be dropped from your credit file.Once your bankruptcy has been discharged you should get a secured credit card and make your monthly payments on time. After a year or two you bank might release you security deposit. However for the next 7-10 years you will not qualify for car loans, mortgages or lines of credit with prime financial institutions and will have to use services of subprime lenders. If you need quick cash advance (up to $1000) to pay an unexpected expense you can apply for a Payday loans are short term loans that are available to consumers in cases of emergency and at times when there are no other financial options available. Those type of lenders have high interest rates but if you do not have perfect credit rating you can still qualify for a loan with them. Some subprime lender report your timely loan payments to Credit Bureaus and some not (payday loans companies do not usually report to credit bureaus). You should double check with lenders before you apply for a loan. It is better to get financing trough a lender that will report your timely payments to the Credit Bureau as it will positively impact your credit score. Do not apply for a loan with numerous institutions at the same time. Numerous inquiries on your credit file will alert lenders and will lower you credit rating even more. Everything has a price and you will be paying for your past mistakes by having to pay high interest rates.
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US Markets in green on Friday; Dow 30 up over 345 points, Nasdaq Composite, S&P 500 up nearly 1%

US Markets were trading in the green on Friday with Dow 30 trading at 30,678.80, up by 1.14%. While S&P 500 was trading at 3,701.66, up by 0.98% and Nasdaq Composite 10,690.60 was also up by 0.71 per cent

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US Markets in green on Friday; Dow 30 up over 345 points, Nasdaq Composite, S&P 500 up nearly 1%
Earlier today, Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. Source: Reuters
US Markets were trading in the green on Friday with Dow 30 trading at 30,678.80, up by 345.25 points or1.14 per cent. While S&P 500 was trading at 3,701.66, up by 35.88 points or 0.98 per cent and Nasdaq Composite 10,690.60 was also up 75.75 points or 0.71 per cent. A Reuters report said that today’s strength was on the back of a report which said the Federal Reserve will likely debate on signaling plans for a smaller interest rate hike in December, reversing declines set off by social media firms after Snap Inc’s ad warning.

Source: Comex

Nasdaq Top Gainers and Losers

Source: Nasdaq

Earlier today, Indian stock markets ended the week on a winning note. It was the sixth straight gains for equity markets. The BSE Sensex ended at 59,307.15, up by 104.25 points or 0.18 per cent from the Thursday closing level. Meanwhile, the Nifty50 index closed at 17,590.00, higher by 26.05 points or 0.15 per cent. In the 30-share Sensex, 13 stocks gained while the remaining 17 ended on the losing side. In the 50-stock Nifty50, 21 stocks advanced while 29 declined.

What We Have Here Is A Failure To Communicate

The results of this past election proved once again that the Democrats had a golden opportunity to capitalize on the failings of the Trump Presidency but, fell short of a nation wide mandate. A mandate to seize the gauntlet of the progressive movement that Senator Sanders through down a little over four years ago. The opportunities were there from the very beginning even before this pandemic struck. In their failing to educate the public of the consequences of continued Congressional gridlock, conservatism, and what National Economic Reform’s Ten Articles of Confederation would do led to the results that are playing out today.. More Congressional gridlock, more conservatism and more suffering of millions of Americans are the direct consequences of the Democrats failure to communicate and educate the public. Educate the public that a progressive agenda is necessary to pull the United States out of this Pandemic, and restore this nations health and vitality.

It was the DNC’s intent in this election to only focus on the Trump Administration. They failed to grasp the urgency of the times. They also failed to communicate with the public about the dire conditions millions have been and still are facing even before the Pandemic. The billions of dollars funneled into campaign coffers should have been used to educate the voting public that creating a unified coalition would bring sweeping reforms that are so desperately needed. The reality of what transpired in a year and a half of political campaigning those billions of dollars only created more animosity and division polarizing one extreme over another.

One can remember back in 1992 Ross Perot used his own funds to go on national TV to educate the public on the dire ramifications of not addressing our national debt. That same approach should have been used during this election cycle. By using the medium of television to communicate and educate the public is the most effective way in communicating and educating the public. Had the Biden campaign and the DNC used their resources in this way the results we ae seeing today would have not created the potential for more gridlock in our government. The opportunity was there to educate the public of safety protocols during the siege of this pandemic and how National Economic Reform’s Ten Articles of Confederation provides the necessary progressive reforms that will propel the United States out of the abyss of debt and restore our economy. Restoring our economy so that every American will have the means and the availability of financial and economic security.

The failure of the Democratic party since 2016 has been recruiting a Presidential Candidate who many felt was questionable and more conservative signals that the results of today has not met with the desired results the Democratic party wanted. Then again? By not fully communicating and not educating the public on the merits of a unified progressive platform has left the United States transfixed in our greatest divides since the Civil War. This writers support of Senator Bernie Sanders is well documented. Since 2015 he has laid the groundwork for progressive reforms. He also has the foundations on which these reforms can deliver the goods as they say. But, what did the DNC do, they purposely went out of their way to engineer a candidate who was more in tune with the status-quo of the DNC. They failed to communicate to the public in educating all of us on the ways our lives would be better served with a progressive agenda that was the benchmark of Senators Sanders Presidential campaign and his Our Revolution movement. And this is way there is still really no progress in creating a less toxic environment in Washington and around the country.