It is overwhelming to have a huge amount of debt on your credit card. Even when you regularly pay the minimum amounts due, the balance does not seem to reduce at all. If you want to eliminate credit card debt, then there are several ways of doing this. The key to success is consistency in your approach for reaching this goal, which means making a plan and sticking to it. The type of option you choose to eliminate credit card debt will depend mainly on your credit score. The following options are best for people having good credit. Balance Transfers are the simplest method for balance consolidation, and lowering the rate of interest. You can qualify for balance transfer when your credit score is good, and you can transfer all balances of various credit cards to a single one that has a 0% or very low introductory rate. This introductory offer will last you for a year or half. During this period, you will be paying very little, or no interest, which gives you the opportunity to pay off major part of the principal. However, read the terms carefully, as certain companies will have a transfer fee, and make sure the rate after the introductory offer, is lower than your current rate. Home Refinance is another option. If you own your home, and there is an equity build-up, then this option is quite good. Interest rates on credit cards are much higher than home loans, and interest on home loans are tax deductible. If you already have a mortgage, then this loan will carry marginally higher rates than the existing mortgage. Home refinance is also referred to as cash-out refinance, and your mortgage will be fully refinanced. The amount of cash you can get will be determined by the accrued equity and the owed balance, and the interest will be quite low. Take out a Consolidation Loan. This is a personal unsecured loan, mainly for paying off debts on credit cards. The rate of interest will be high as it is an unsecured loan, but you do not face the risk of forfeiting your home, if you fail to pay your installments. In case of a poor credit score, the following options are suitable- Credit Counseling help and advice is another route. Here you work with a credit counselor who will try to get a reasonable payment option from your creditors. The counselor tries to get your rate of interest reduced and formulates a monthly payment plan, for which you are charged upfront fees. Debt Settlement is one of the last options. In this plan, a firm negotiates on your behalf, to reduce the outstanding balance and interest rates from your creditors. Payments are made to the firm doing the debt settlement, and they in turn pay off creditors on reaching a certain amount. If you’d like to learn more about this, read below and click on one of the links for more information. This eliminate credit card debt review is just one tool to help you get out of debt as quickly as possible. If you’d like to learn more head over to the main site to find out more debt elimination tips at: http://TheDebtConsolidationGuide.org Article Source: http://EzineArticles.com/6626978
Your credit score goes a long way in determining the kind of loans you’re getting and the kind of money that you can spend. With a credit score in disrepair, you will likely not have an opportunity to get the best rates when you are searching out an insurance policy or auto loan, and you can find yourself paying thousands of extra dollars on your home loan.
A poor credit score can be created over years of late bill paying and inefficient financial practices, but there are still steps that you can take to repair your credit score if you find it falling below the 760 mark. When your credit is damaged, your already late bills can become even more difficult to pay, but following these steps can help to pull you out of this endless financial cycle.
Severe credit scores can drop below 620, and millions of people around the United States sit below this dangerous level. Even if your score is not this low, you can still take steps to improve your situation, and save some money on interest and insurance at the same time.
The first step in fixing your credit is understanding where you stand, and taking advantage of your ability to obtain a free credit report once ever year. Free reporting websites and companies allow you to get your credit score as quickly as possible, and you can even pay small fees to gain access to your more detailed FICO credit scores. If you find yourself below that important 760 mark, consider some of the following steps:
Get a credit card. If you do not already have one, you are not taking advantage of an easy way to build your credit credibility. With a credit card or two, you do not have to make extravagant purchases or leave large balances on your card. You simply have to make your normal everyday purchases and pay them off on time to help build your score slowly and over time.
When you use your credit cards lightly, you will not rack up big balances that will be reflected on your credit scores when they are reported. It is suggested that you limit your charges to around 30% of your total limit – or even keep the balance on your credit card as low as 10%. Making payments before the statement date will also reduce the amount of money that you owe and reduce the outstanding balance that is reported to the credit bureaus. All of these actions will have a favorable effect on your credit reporting as you continue to build toward the future.
Continue using your old credit cards. Look for your oldest line of credit and dust it out of your wallet. Using the card that you have had the longest will stop these accounts from being closed, and will give you the opportunity to draw on a long history of credit. When these accounts are noticed by credit bureaus, you will be able to prove yourself with a long-standing history of balances, payments and active spending. These methods, and other safe spending habits, will help to keep your credit score in the best shape possible, and will keep your interest and insurance rates as low as you would like them.
Rachel Wink writes about credit score repair and other current personal finance issues affecting many homeowners during this economic downturn.
Article Source: http://EzineArticles.com/6745145
Home Solar Panels Prices
With summer fast approaching, many home owners are reaching the point of the year where they start to dread opening their electricity bill each month. And for good reason — because not only are gas prices rising, in some states as high as $5.00 per gallon, but on top of that, power bills are rising. Many homeowners feel like they are getting squeezed by big oil and power companies. The feeling of frustration is enormous, but the good news is, there IS something that you can do about your expensive electricity bills.
How much can I save on electric bills by installing a home solar power system?
Because energy prices fluctuate, there is no way to calculate for sure exactly how much money you can save by using solar energy. But, many homeowners that have switched to solar energy report that they have cut their energy bills by 50% to as high as 90%. This can really add up if you take into account that the average solar energy system on a residential home can last up to twenty years.
What will a residential solar energy system cost me?
A sophisticated and reliable solar electric system will cost about $20,000. Solar electricity costs about $10 to $12 a watt installed, though you may be eligible for state incentives. Check your utility bill to see your monthly usage. You can spend as much money, to receive as much solar electricity, as your budget will allow to put into the investment.
Federal support for solar residential systems
Obama administration green jobs adviser, Van Jones, was the keynote speaker at this year’s Powershift, a gathering of 10,000 students and young leaders in the clean energy movement, held in Washington D.C. Van Jones is one of the most exciting and effective green leaders in the nation —- because his message encourages unity within the nation for causes such as clean energy, social justice, and job growth.
“Shouldn’t we have the right and liberty to be free from energy companies who dictate how much we pay, what air we breathe?” Coal and oil companies try to divide us with cultural stereotypes and political ideology, when a green economy is actually the truly American economy:
The stereotype is that solar power is just hippie power. But it’s also cowboy power, farmer power, rancher power, and Appalachian mountain power!
He impressed upon the Powershift crowd that installing solar panels is nice, but Van Jones said “we need to find ways to make them available to everyone.”
Notice that the wealthy people have the solar panels, the poor people have the high energy bills,” Van Jones said. “We can’t afford for poor people not to have solar panels.
Solar financing , credits or rebates
Some solar installation companies offer financing or will help the homeowner arrange for credits and rebates.
- 100% financing of the Solar System through property taxes.
- Federal and State rebates.
- Financing does not appear on your credit.
- Up to 20 year “FIXED” financing on Solar Systems.
- If you sell your home or business, the financing is assumed by new owners.
- Available for commercial and residential systems.
Effective solar installation
The most effective systems are on homes with a south facing roof and no shading from other buildings or trees. As well, there are a number of state and federal financing incentives that encourage you to do so.
Ideally, homeowners should replace old shingles before putting in solar panel mounts, although this is not absolutely necessary. If you are planning on replacing shingles in ten years or so, then you will have to have a solar paneling installer remove the solar panel mounts before replacing the roofing.
Professional installers have been installing solar panels for thirty years now. They have learned a lot in that time. In some cases there have been mistakes made, and as with any industry you have to know what to look for in order to find a trustworthy solar provider. You can also mount your panels on the ground, if you have hesitations about mounting them on your home’s roof.
Energy efficiency in your home
There are lots of ways to create an energy-efficient home, but there are even more ways to create a home that lowers your electricity bills for long-term sustainability. Keep solar in mind when looking at your next electricity bill, then review our solar vendor information and cut down on the hype, as well as your electric bill.
“What will it cost to go solar” is the burning question on most people’s minds. The real cost of your solar power system is the difference between your savings and your investment.
And, since solar power costs less than energy from your utility company, your return begins immediately. A properly-sized system is your key to getting the most return on your investment now and in the future. Our experienced solar consultants calculate roof or ground space, orientation, shading, tilt, sun peak hours and energy usage to determine the exact size of system for the
Cost-effective $0 down leasing options are available with attractive terms as low as $85 per month. The difference between what you were paying to your utility and your monthly solar cost is savings to you.
With a low, fixed monthly payment, your savings begin immediately and increase each year as you offset the rising cost of electric rate inflation.
When purchasing a system, the average homeowner recovers their investment in approximately 5-7 years and then produces FREE electricity for the remaining life of the panels. Solar panels are warranted for 25 years but are known to last for decades longer.
The money you save each month allows you to recover your investment quickly.
The payments on financing can also be less than what you would pay to PG&E, which creates positive cash flow from day one, when you turn on your solar power system.
There are variables for each system that determine system costs, which are outlined below. But some of these factors can be controlled by your usage patterns as we see with time-of-use metering.
Increase your savings with a smaller system.
Time-of-use metering allows you to significantly reduce your energy bills so that you can realize a greater benefit from a smaller-sized system. This is done by timing your energy use so that the energy consumed is billed at a lower rate than the energy produced.
Incentives & Rebates
Federal and State rebates, credits and grants.
The state and federal governments encourage residents to use non-polluting renewable energy by offering incentives that lower the cost of installing solar power in homes and businesses. Realize significant savings with Federal tax credits, State rebates and cash grants.
Other Variables Effecting Solar Installation Costs
Energy usage. Start with your energy consumption. You can get a copy of your usage from PG&E. Take a look at your monthly kW numbers. This is the approximate amount of solar you will need to produce to zero out or reduce your bill, taking into consideration variations in weather, time of year, etc.
Sun exposure. Solar Panels perform at optimum capacity when placed in direct sunlight. Your photovoltaic array should be positioned directly under the noontime sun for maximum efficiency from your photovoltaic unit. A properly designed system will provide optimal energy output.
Equipment. Not all solar panels are equal. Some have a higher efficiency rating and produce more energy per panel. This is especially important if you have limited available roof space. You will realize more energy production from fewer panels. Solar Technologies offers the most efficient solar panels on the planet.
Financing. Finance your system for less than you pay to your utility company with attractive solar loans or home equity loans, or lease your system for $0 down as low as $85 per month. The SunPower solar lease provides the best equipment and the best terms on the market.
Article Source: http://solartechnologies.com/cm/About-Solar-Power/solar-power-costs.html