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What is a Credit Default?

What is a Credit Default? Did you know that a payment default can make it difficult for you to secure credit?  It can make it difficult to obtain anything from a new mobile phone plan to getting approved for a home loan. A payment default is basically when you are behind in your repayments on…

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What is a Bad Credit Home Loan?

What is a bad credit home loan? A bad credit home loan is for borrowers that have had previous credit issues.  As outlined in the article on bad credit, the most common credit issues involve: Mortgage arrears, Defaults, Court judgements, summons and writs, and Bankruptcy and debt agreements Since there is a greater risk to…

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Debt Consolidation: Personal Loans & Credit Cards

Debt Consolidation – Credit Cards and Personal Loans Usually private debt has a higher interest rate because the debt isn’t secured against an asset.  For example, your credit card debt has no asset ‘securing it’ that a lender can sell should you default on the debt. Car loans are cheaper than credit cards because there…

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Intro to Bad Credit

A bank makes money by minimising risk.  They want to minimise the chance that any of their customers might default on their loan.  They don’t want to end up on ‘A Current Affair’ for selling a house from under a family of 4. Part of the bank credit assessment will be to look at your…

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Working Capital Finance

Intro to working capital finance Working capital finance provides businesses with funds to cover short-term needs, overcome cash flow constraints or take advantage of opportunities to grow the business that include but aren’t limited to: Managing cash flow Paying suppliers Wages Discounted stock/inventory Pay for larger orders to win a contract Working capital loans don’t…

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Refinance with Credit Impairment

Description The client came to us after trying to refinance with his lender and through 2 other brokers.  He was looking to refinance to access equity to do some home improvements as the house was in need of repair.  He also wanted to consolidate multiple loans with sub-prime personal lenders.  The credit score was low…

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