We`ve all experienced it, we`ve all been there, we`ve all tensed at the checkout with a week to go before payday, wondering if there`s enough money in our account to pay for the shopping. What if I`ve overstretched my overdraft? Has that direct debt come out yet? Will the bank return my card payment? How much will I have to pay in fees if they do honour my card payment? The truth is most of the UK population have suffered from cash flow issues from time to time. However if you find that you are regularly overstretched, then you may want to consider looking at ways you can get back on top of your finances.
Now at My Sort of Loan we advocate responsible lending and affordable borrowing. Whether you are looking at a debt consolidation loan, or a loan for any other purpose, our qualified UK based loan advisors will go to great lengths to ensure that any loan that we arrange for you won`t leave you unable to maintain your day to day expenses, credit commitments or lifestyle. If you`re serious about improving your cash flow call My Sort of loan now on Freephone 0800 015 9295 > or complete our short, no credit check online loan enquiry form and see how one our qualified loan advisors can help get your cash flowing in the right direction.
Unchecked credit card debt is the great eater of cash flow and it is so easy to get stuck in the revolving door of revolving credit. Essentially a credit card is a loan that you can carry around with you and spend on what you want without any form of advice. Terrible things eh?... Well yes and no. Used properly and in moderation a credit card can be a useful way of keeping your cash flowing properly, for example if you are able to claim your work expenses back you could use a credit card to pay for the things you need and pay the full balance off when you make your expenses claim.
In a nut shell that`s really the only safe way to use a credit card, spend what you can afford every month and pay it all off on payday. The problem is that you can have any number of credit cards in your wallet at any given time and if you use all of them simultaneously the bills can build up to a point where you can`t realistically pay off all of the balances on time. Add on the cost of servicing you term loans, phone contract, utility bills, mortgage and keeping everyone clothed and fed and you can quickly find yourself in a bit of a pickle. Worse still, missed payments on a credit card will adversely affect your credit rating / score and multiple arrears can lead to a default being registered. Defaulted credit cards can reduce your access to credit, loans and mortgages for up to six years, so act before you end up with a poor credit profile.
If you find yourself in this position maybe its time to call My Sort of Loan on 0800 015 9295 and talk to our UK based loan team about a consolidation or refinance loan so that we can try and arrange to pay off all of your unsecured debts and leave you with an affordable monthly repayment without damaging your credit score. Important Note: There are government initiatives to help people in financial difficulty, stepchange.org are one of these and should be consulted to get some free no obligation guidance about debt management.
It is important when borrowing a larger amount of money that the repayments are going to be manageable. Therefore big loans are available to our customers with repayments terms from 3 years (36 months) to 25 years (300 months),subject to criteria, so you can match your repayments to your monthly budget, giving you a payment that suits you and your circumstances. It could be you have a perfect credit history or one that isn`t that great, either way My Sort of Loan will endeavour to arrange a highly competitive big loan provided via a host of reputable UK lenders who are regulated by the Financial Conduct Authority.
We speak to all of our clients and get up to date appraisals of their situation before any credit search is carried out, tailoring the big loan they are looking for to our client`s unique situation. All of our staff at our Head Office are trained to treat our clients fairly and as a top priority. They always look to obtain the very best big loan offer for our clients. We don`t use automated telephone systems or overseas call centres, we look at all aspects of the finance you are looking for making sure the funding you require has the features that suit you. It may be your priority is to minimize monthly repayments, or have a fixed interest rate, alternatively having the ability to make additional repayments may be key for you.
Our customers are varied in what they need a larger loan for so whatever your priority is we will do our best to obtain that for you. The details of your large loan will be will explained in plain English to you, pointing out the feature and benefits as well as the risks of the loans offers available to you. We will arrange your big loan in the fastest possible time, but always take care to make sure our customers understand the full details as well as understanding what the chosen lender requires so every thing goes through as smoothly as possible.
So once My Sort of Loan have helped you slay your credit demons how do you stop yourself form suffering the pre payday nerves all over again? Well here are a couple of simple lifestyle changes that (believe it or not) can lead to a stress free credit life without entering a monastery:
Don`t go food shopping on an empty stomach - Believe it or not if you go shopping when you are hungry you are more likely to stock up on treats and high calorie snacks that you wouldn`t look at twice if you had eaten first. A moment on the lips, a life time on the hips and an unnecessary dent in your bank account.
Here`s a thought form Drunk Me to Sober Me - In the 21st Century Ebay and Amazon rule supreme in the retail industry. Back in the day if you wanted to treat yourself, you had to get up, catch a bus and go to the shops. Today, you can sit there in your pyjamas, fifth glass of wine in hand and order pretty much anything you heart desires. It`s a sobering sort of moment though when an eight foot plush Bugs Bunny lands on your doorstep and an even more sobering moment when you see your credit card bill. Only buy what you know you need or want for a genuine present for you or someone else and make sure you save for it first.
Set aside a monthly budget to treat you and yours with….and keep to it! Sounds like an obvious one but if you overspend on your leisure one week, you are in for a miserable time during the next. Know what you can spend and if you can afford to push the boat out, specifically try to save your budget rather than using it all in one hit.
If you find yourself unable to maintain your credit commitments for whatever reason the first six payments that you miss will be recorded on your credit profile. After six missed payments your account will go into default and this is recorded on your credit profile for six years.
A default on your credit profile can be used as an indication of your ability and intent to service your credit accounts, if you build up a number of defaults you may find that your are only offered high interest rates when borrowing money or that you loan application is refused or declined.
If however you satisfy your defaults they can stop counting towards your credit score so if you want to repair your credit after a difficult period call My Sort of Loan on 0800 015 9295 and talk to one of our qualified loan advisors about a credit repair or refinance secured homeowner loan.