Easy Debt Settlement

A consumer group has criticised a number of councils and local authorities for imposing surcharges for people who wish to pay tax bills or other costs by credit card.

‘Which?’ magazine, using Freedom of Information legislation, found that 55 councils in the UK are imposing additional fees for those who chose to pay by credit card, with 12 adding 2% or more to the cost of services.

Two councils were also found to be charging for debit card transactions, which attract a much lower fee for the retailer than a credit card transaction.

Bath and North East Somerset Council were named amongst the worst culprits, imposing a surcharge of 3% on council tax payments, planning applications and many other services, if a credit card is used.

Credit card companies impose a fee on retailers, known as merchants, for handling a credit card transaction and it is that fee that councils claim is the reason behind these charges.

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Tags: Card, Credit Card

Paying too much credit card interest? It’s time to transfer your credit card balance. Here are four tips to help you.

Are you paying too much interest on your credit card?

At the end of 2009 there was almost $850 billion outstanding on credit cards in the USA alone. With interest rates on credit cards often as high as 20% or more, banks are raking in billions of pounds in credit card interest.

If you look at your most recent statement you will probably find you paid a significant amount in interest to your card provider. So, isn’t it time that you transferred your credit card balance to another card to reduce the amount you pay in interest? Here are four top tips to help you.

Shop Around

Firstly, make sure that you shop around to find the best balance transfer rate for you.

Don’t just ask your own bank.

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Tags: Balance, Card Balance, Credit Card, Credit Card Balance

Consumers overwhelmed by credit card debt naturally seek for help, but don’t be taken in by false promises.

According to the Federal Trade Commission, anyone can face a financial crisis due to illness, unemployment, or overspending. Although mounting bills and shrinking income is extremely stressful, consumers should be wary of phony promises of quick and easy solutions to credit card debt.

Warning

The Federal Trade Commission warns stressed-out consumers to be wary of companies that promise you that you can pay off your debts for “for pennies on the dollar,” that require you to pay them a monthly service fee, or that tells you to stop communicating with your creditors. The FTC further warns against companies that promise to remove negative information from your credit report.

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Tags: Card Debt, Credit Card, Credit Card Debt, Debt

Think you might need to do your credit repair yourself? Learn how to fix your credit score with a free credit report and these three tips for better credit.

If you want to do your credit repair yourself, the first thing you need to do is get your annual free credit reports from the “Big Three” credit reporting companies: Equifax, Experian and Transunion. Once you have your annual credit reports, use the tips in this article to learn how to fix your own credit score.

Get Your Free Credit Report Online

To get your free credit report online, go to AnnualCreditReport.com every year. If you go to any other site that offers a free credit report or credit score with a free trial membership, you can end up paying fees.

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Tags: Credit Repair, Credit Score, Score

Total mortgage lending fell for the second month in a row in August, with analysts claiming that another fall in house prices could be around the corner.

The Council of Mortgage Lenders (CML) said that the number of homes sold in the UK also fell last month, by 5,000 to 85,000, whilst property groups have claimed that typical asking prices have fallen by an average of around £8,000 as a large number of returning sellers are met with a small number of potential buyers.

“We face the prospect of a difficult second half of the year,” said the CML’s chief economist Bob Pannell.

“However, the Bank of England is likely to keep interest rates at record lows for longer to support the economy.

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Tags: August, Mortgage Lending