By Tim H Lambert

When you have declared bankruptcy in your business, your credit score will be greatly affected. Your score will definitely go down and you will suffer a lot of consequences. You can no longer charge or purchase items using your credit card. In addition, you may be required to pay for higher interest rates. Luckily, there are a lot of steps on how to improve credit score after bankruptcy. Fixing or increasing your credit score after going to this kind of situation would take some time. If you focus on improving your credit score, you can get good results within a year up to 18 months.

Open a charge account at a retailer store that sells appliances or pieces of furniture. This is because the big retailer stores would be more willing to give you credit after knowing that you declared bankruptcy. You might get a soaring amount of interest rate. However, the value of the product that you are going to get will also boost your credit score. Once you buy the item from that store, make sure to pay half of the total sales price. This is important because putting down a large down payment will make it easier for you to pay the whole lot. In addition to this, if you pay half of the total price, you will not have an interest which is too high for you to handle.

After that, open a secured credit card account and convert it to an unsecured account after a certain period of time. If you are paying your balances on time, the conversion can be made from 6 months to 1 year. Take note that converting a secured account to an unsecured one will mean a high interest rate. However, having a regular account will also improve your credit score so it’s worth it. In addition, you will also improve your credit score by opening and paying for additional accounts at the right time.

Make sure that you are able to pay your bills on or before its due date. You should pay for your newly opened accounts and other assets that you have kept after bankruptcy. Your assets include a car loan or a mortgage that are still running. Paying your bills on time will show that you are able to manage your finances. Once the lenders see that you are working hard and are managing your finances well, they might become your good prospects.

Lastly, always keep an eye on your credit report. This report contains all the necessary information regarding your finances including transactions, loans, payments and others. You may want to order a copy of your credit report from one or all of the credit bureaus. This is important so that you can see whether or not errors are present. Once you see an error or anything that you do not recognize, contact the credit bureau immediately and ask for a clarification. You can also ask for a correction if you believe that one or more data in the report are erroneous.

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By Bob Miles

If you own real estate and sell it to a buyer under a general warranty deed, you can be liable to the buyer years later for some defect in the title that you didn’t even know about at the time you sold him the real estate, and you could end up having to pay the buyer up to the amount that he originally paid for the real estate, or in some cases the value of the land if it is more than what the buyer actually paid. Here’s how it could happen:

(1) If you breach the Covenant of Seisen or the covenant of the Right to Convey:

You can breach these by not having a freehold estate at the time you sold the real estate (you were only renting the property, for example), or by having a freehold estate that was illegal and didn’t give you the right to sell it to anyone. You can’t easily breach the first covenant accidentally, but it is possible to accidentally breach the second covenant. Damages will amount to the price the buyer paid for the property or whatever portion of it you failed to legally transfer to him. Some courts won’t even require to transfer the property back to you when you pay him the purchase price.

(2) If you breach the Covenant Against Encumbrances

You can breach this one if there is a mortgage on the property, for example, at the time you sell him the property. It is, then, quite possible to breach this covenant accidentally because you breach it even if the mortgage was taken out by the guy who sold the property to you and even if you didn’t know about it. Damages will amount to either the amount of money needed to remove the encumbrance (pay of the mortgage, for example), or the amount by which the market value of the real estate has been diminished on account of the encumbrance. In no case, though, will damages exceed the value of the land

(3) If you breach the Covenants of Warranty, Quiet Enjoyment, and/or Further Assurances

If your buyer ends up getting thrown off his property by someone who comes along with a superior claim to title to the real estate (you’d be surprised how easy it is for that to happen), you may have to pay the buyer back the amount he originally paid for the real estate (or a proportion of that if he’s only been thrown off part of the property).

About the Author: Real Estate Law in Plain English explains real estate law without the legalese.

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By Amanda Thompson

Self employed loans are the loans, which are meant for self employed people. Before, discussing about these loans, it is necessary to mention, who are considered as self employed. Normally, self employed people run their own enterprises. They could be a proprietor, contractor or consultant.

For assisting self employed persons financially, self employed loans are tailored. A borrower can apply for self employed loans for various reasons. Some of them are like

For business expansion

For consolidating debts

For improving homes

For personal purposes.

Self employed loans are available both in secured as well as in unsecured forms. In case of secured option, pledging something against the lending amount is necessary. Any sort of valuable objects can play the role of security including home, automobile etc. Oppositely, unsecured option does not claim any security. A borrower can avail this option without using anything as a security.

As self employed loans, borrowers can avail the amount, ranging from 3,000- 250,000. The repayment period of these loans varies within 5-25years. Usually, on the basis of borrowed amount and borrowers credit score, the interest rate is decided. Due to the increasing competition among the lenders, availability of these loans at a better interest rate is possible now. Generally, it is seen that most of time, self employed persons do not have any stable income. Because of this reason, self employed loans are available at a higher interest rate.

However, before offering self employed loans to borrowers, lenders normally evaluate the income of borrowers, since it is most of the important part of these loans. In case of assessing borrowers income, lenders may follow one of these two methods.

Self certification: In this method, borrowers can declare their income without showing any valid income proof.

Audited accounts: By following this method, lenders get the details of borrowers income on yearly basis.

Based on the accessibility of income proof certificate, these loans can be divided as a low doc loan or no doc loan. In case of a low doc loan, borrowers need to submit a few documents. Oppositely no document is required for the latter one.

A borrower can avail self employed loans, despite having bad credit score. All types of bad credit scorers, such as, CCJs, IVAs, bankruptcy, defaults, arrears can get the advantage of these loans. But due to their bad credit score, they may have to pay a higher interest rate on these loans.

In past, while availing any loan, a self employed person used to face a lot of hindrances. Now, self employed loans offer them a chance to avail loans for various purposes.

About the Author: Amanda Thompson holds a Bachelors degree in Commerce from CPIT and has completed her masters in Business Administration from IGNOU.To find a Self employed loans, debtconsolidation loan, cheap rates, unsecured loan that best suits your needs visit

chanceforloans.co.uk

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