Why good credit is important: Even if you never plan to use credit, your score can still impact your life. If you inherited millions of dollars and don't need auto loans, credit cards or even mortgage loans, you still may not be able to escape the need for good credit. Consider car insurance, for example. It's a law that you must have auto insurance. Sure, if you have millions of dollars you can afford any insurance premium, but the fact remains that your credit score affects your rate. For those of us without millions of dollars, credit can also affect our ability to rent an apartment, get utilities, and can limit our employment choices or even hold up promotions.
Some other things that typically you can't get without credit include cell phones, elective cosmetic surgery, business loans and student loans, and high rewards credit cards.
- Helpful Tips. If your grade is low, the software offers tips to improve.
The software is 100% free, operates on Windows computers, and does not require entering sensitive data such as credit card numbers, bank account numbers, etc. The software does not require being online to use.
Download Instructions: Click on the download link above, select 'Open'. Follow download instructions (accept cookies, agree to Terms, etc). The CreditFederal software will download first, then the Sun J2SE software. Both programs are necessary for the Personal Finance Center to function. After both downloads are complete, an Icon (like the one displayed on the left) will appear on your main Windows display.
To launch, double-click the Icon on your computer desktop.
The software helps you track and itemize expenses, setup bill payment reminders, and it provides a credit grade based upon your debits.
The software is easy to use and 100% free. Operates on Windows computers and requires 16MB of disk space.
Don't forget to register for FREE Upgrades! As we update the software with additional free features, you can receive a notice via email simply by joining our free credit offers newsletter.
If you are a freeware site, include our finance software via our PAD file.
Free Personal Budget Software. Do you know how much per year you spend on utilities? On insurance? On credit card payments? Get Credit Federal's free personal budget software to track expenses. It will calculate all your expenses and income, and will provide you with itemizations. This software can help you define where you mostly spend your money, and where you can make savings. Functions just like a checkbook register. It is 100% free, and operates directly from your personal computer (Windows Required). Download our free software.
Extra Free Money to Pay Bills: In all likelihood, you have spare money all around you. You simply need to know how to collect it - *If you have a talent like painting, making costume jewelry and so forth, turn it into a revenue stream. You can sell either to family, friends, neighbors, or place your work for sale online. *Rent unused assets such as a boat, or perhaps extra appliances you may have like TVs, DVDs and so on. *Babysit either for cash, or for return favors. For example, if you have a neighbor who has kids and runs a lawn care business, you can babysit the children in return for free; or discount, lawn work. *Go on a scavenger hunt for loos change. The floorboard of your car, the crevice of your sofa, junk drawers, etc, are perfect places to pick up a few dollars in change. *Return unwanted purchases or gifts. Why keep something you don't need or want? If you can't return the item to the store, sell it to a friend. If you have a lot of unwanted items, collect them all and have a yard sale. If you don't have anything you want to sell, you could pawn them for cash. This; however, is a very expensive loan option. *Collect and recycle scrap metal and plastic. Even if you don't want to go searching for these items, you can earn extra money with nothing more than your family's refuse. If you consume a lot of canned drinks (sodas, beer, juices, etc), save them and when you've collected a dozen sacks full, take them to a recycling center which pays you. *Cash-in on your health. Sell plasma to your local blood bank.
Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
Debt Consolidation vs. Debt Settlement: When you realize that you have a debt issue going on, you have several options to choose from; Bankruptcy, Debt Consolidation Loans, Consumer Credit Counseling Services, Do Nothing, or our preference Debt Settlement. Debt settlement offers you an intelligent solution to becoming debt free within a realistic time frame. This last option should always be considered as the best alternative in mind because of the consequences brought upon as result of the other options.
Debt Consolidation and Debt Settlement have their advantages and disadvantages. They both have one main objective in common, to free the consumer from debt. It is very important to completely understand how every step of the process works in order to know which to apply to.
Debt Settlement programs gives you a lot of options to clean your debts. It reduces your principal debt amount, eliminates your late fees, lowers your APR, and provides you the flexibility to repay your debts within your chosen time span.
Principal debt amount: Most debt settlement firms negotiate with your creditors and reduce the principal debt amount you owe. For example, in maximum cases 40-60% of the original debt amount is reduced.
Late fee charges: Some debt settlement firms waive off your entire late fee charges. It is sometimes seen that late fee charges club to form a major portion of your debt amount. Thus elimination of late fees can save hundred of dollars.
APR: Some debt settlement programs are done to reduce the high APR's for a particular account. For example, some debt settlement company may notify that APR has been reduced to 8% for the proposals accepted after 10th September and reduced to 0% for all proposals accepted before 10th September.
Monthly installments: Debt settlement programs are also determined on the amount you pay on monthly installments. In this process you have to pay a single monthly amount to a debt settlement firm in order to settle your debts. The more you can pay the lesser period of time you take to settle your debt. The amount of your monthly installment is fixed by the debt settlement company based on your present financial status.
Annual time frame: Debt settlement is also chalked out on the basis of extended time periods. In such cases you have the provision to extend your time period from 2 years to 4 years or sometimes even longer. This is helpful for people who cannot afford to pay at one go.
The advantages of debt settlement:
*Debt Settlement is one of the quickest and best ways to improve your Credit Report.
*Avoid being harassed by the abusive creditors.
Many collection agencies will settle a debt between 40%-60% of the original debt amount. In this process you can save thousands of dollars. You will only have to make a single payment every month.
With debt settlement your time will be saved and your debts will be eliminated within 2 to 4 years. It is also less likely that you will have to fight the creditor later to actually delete the negative listing.
The disadvantages of debt settlement:
*Your credit will be affected in a negative manner. This will be reflected on your credit report for the next 7-10 years. However, despite this fact consumers still opt for debt settlement and avoid bankruptcy.
*There is a probability that creditors will continue to harass you throughout the process of negotiations and may even sue you or garnish your wage. However, only one creditor may garnish you at a time, and in some states, you may not be garnished at all. Some debt settlement companies will only accept you, if you have $10,000 or more in credit.
7 attorney tips for debt settlement:
* Be honest but represent your financial position to be unfavorable.
* If considering bankruptcy, say so. But do not incur any other debt after saying so.
* Never disclose where you work or bank.
* Don't hire a lawyer if you are not sure that you are in good standing when compared to your creditor.
* If you are contacted more than one creditor for the same debt, be sure that your account is sold off to a second creditor. This indicates that you have avoided the first creditor really well.
* If the creditor agrees to settle for full then make sure that your account status also shows "satisfied in full".
* There are high chances that you may have income tax on the debt owed after settlement. The creditor might send you a 1099-C at the end of the financial year. You are then required to report the amount listed in the 1099-C as income.