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  • The Credit Crunch Explained - ‘Credit Crunch’ is the name given to the global crisis that has been affecting the financial markets for the past year. The crisis is causing many people to get further into debt – the only winners appear to be the debt management companies. The crisis affects everyone – not just those working in the financial sector, so this article aims to break down the credit crunch for you into an easily digestible article. So what exactly is the credit crunch? The term ‘credit crunch’ refers to a condition in the global market where money borrowing becomes far less easy.
  • Credit Crunch Impacts - There is a saying among economists, "When America sneezes, the world catches a cold". This means that if the US experiences an economic downturn then so does the rest of the world. This saying certainly seems true at current times with the ongoing global credit crunch which started with sub-prime mortgage lender issues in the US. You've no doubt been hearing about the crunch and the huge figures wiped off the stock markets but what does it really mean to the typical individual? The effects of the credit crisis which started with the US housing bubble burst have been magnified as central banks become unsure of the risks their customers represent.
  • 4 Steps On How To Beat The Credit Crunch!!!!!!! - Are you fed up of this current financial climate?......Are you concerned about the security of your job?..... Do you fear for the financial security of you and your family?.... How would you cope if you lost your job? I know I am! I used to run my own successful Labour supply businesses, last year thanks to the banks and the credit crunch my financing for the business dried up. I ended up with my business going under even though the order books were full. My house repossessed and eventually I went bankrupt! So what did I do?.....Or more importantly what can you do to secure your future that is credit crunch proof!!!!!!!!! 1.DECIDE IT’S TIME FOR CHANGE!
  • Credit Debts, Where To Turn Next - If you hold credit debts and are concerned about how you will meet future debt payments, it is time to take stock of your situation and the reality of the fall-out from the global credit crunch. Many people experiencing credit debt problems, might imagine their first port of call being debt consolidation via non-profit debt counseling agencies. And rightly so, these credit debt management services have provided 'life-lines' to many distressed debtors, enabling them to consolidate their debts with affordable monthly payments at reduced rates of interest. In some instances, debt solution services have even been able to negotiate as little as 0% with credit card companies.
  • The Basics Of Adverse Credit Mortgages - Adverse credit mortgages are arranged for home owners and first-time-buyers with impaired credit files. People with adverse credit are usually excluded from applying for mainstream mortgage products and are therefore forced to seek alternatives. Several years ago the market for adverse credit mortgages was flooded with products. Most mortgage lenders had products on offer to borrowers to cater for individuals with bad credit. Some lenders even specialised in this field which provided great choice for borrowers with impairments on their credit files. The situation has changed recently due to the global credit crunch. Most lenders have tightened their lending criteria and some have removed entire suites of products from the market. Adverse credit mortgages have been hit by this scenario and some specialist lenders have either closed their businesses or have temporarily stopped lending.
  • Credit Cards and the Credit Crunch: 5 Steps to Manage your Cards Wisely - The woes of the current credit market continue to top headlines throughout the country. If you find yourself wondering how today's slow economy will affect your finances, you're not alone. In the near future, many will begin to feel the effects of the crunch as they filter through the system. Let's look at one market that is changing due to the current economy: credit cards. Just how have credit cards been affected? For starters, companies are tightening up their standards and lines of credit. In some cases, this means sending out fewer applications, especially to those that earn less than $50,000 a year. It also has led companies to increase their interest rates and decrease the limits available to cardholders.
  • Save Your Home From The Credit Crunch - The looming credit crunch is affecting markets world wide. The crunch is fueled largely by the alarming number of home foreclosures. The crisis initially began in the sub-prime lending sector, but is starting to show signs of moving into prime mortgages.
  • Credit Crunch Impacts On Family Life - The credit crunch is beginning to bite into the heart of families in the UK. Transact, a forum representing over 1,000 organizations that advise on dealing with financial difficulties and debt management have reported a steep rise in the number of middle class families that are asking for help. Whereas it was usually families on benefits that would use debt advice centres, advisers are now seeing more and more people from the banking, police, teaching and other service based industries asking for help, with many already struggling with credit card debts, secured loans and mortgages.
  • Credit Crisis Explained - How the credit crunch will impact you - The newspapers are full of articles on the on-going credit crunch. Oil prices are up, inflation is definitely up and there is a global credit crisis. What are the reasons behind this?

  • Credit Crunch and Self-Certification Mortgages - With the credit crunch forcing lenders to evaluate their loan books and reassess the types of products they offer it would appear sensible to anticipate the demise of the self-certification mortgage. However the market for self-certs remains buoyant as lenders have not tightened the reigns as much as expected and as much as they have for other products. Mortgage lenders have reported record losses on their loan books due to high default rates on non-standard products. Billions of pounds of home loans have been written down as lenders recalculate their real worth in the light of the credit crunch.
  • 7 Strategies to Credit Crunch Proof Your career - Every time you open a newspaper nowadays, the first thing you see is the current fear of a recession, the credit crunch, the banking crisis and the difficult days ahead with a downturn of the economy. It seems obvious that there will be cost cutting measures within some organizations, which in turn triggers fears of downsizing. Keeping this in mind, it is better to credit crunch proof your career when there is still time. Even if your company is not affected right now, it is necessary that you build up a strategy to safeguard yourself.
  • Payday Cash Loan - The term credit crunch is a worldwide household phrase. How exactly do we define credit crunch? This is the situation created when banks reduced their lending to each other hugely, as they were unsure about how much money they actually had. The knock on effect of this was more expensive mortgages and loans for the ordinary person. On top of this lending institutions are tightening their criteria making it much harder to be accepted for a loan.
  • Credit Rating: How To Raise Yours And Get The Loans You Want - With the subprime crisis hitting banks very hard, access to credit is becoming tough. Having good credit is extremely important. Bad credit can come in the way of obtaining mortgage loans, auto loans, good insurance deals and can even make you loose your job. If you have had enough of making late payments on credit card spending or meeting loan repayments, it is time to pull up your socks and do something about improving your credit score. The flip side of bad credit is that you can do something positive to improve your credit rating. With persistence, time and patience, you can bring up your credit rating by 50 to 100 points. How do you go about doing this?
  • The Future For Mortgage Brokers – Part 5 - Mortgage Brokers in the UK The mortgage broker industry in the UK has been negatively affected by the credit crunch more than any other country in the world, apart from the USA. The boom of the late 1990s and early 2000s officially ended in late 2007 when the credit crunch became a reality. The following few months saw the closure of hundreds of estate agents and mortgage brokers up and down Britain as the property market came to a standstill. Lenders pulled products from the market by the thousand. It seemed that all that remained was products for existing home owners with lots of equity in the homes. This left first-time-buyers and home owners with little equity in their properties with no options for remortgages or new mortgages when moving home.
  • The U.S. Financial Crisis Has Not Had A Bad Effect On Everyone! - Corporate America feels the change as consumers alter their buying habits since the economic slowdown caused by the mortgage crisis and resulting credit crunch last year has not been such bad news for everyone, reflecting both behavioural shifts among US consumers and the advantages enjoyed by those companies that are less dependent on the US domestic market than most of their competitors. Wal-Mart, the largest retailer in the US, has a mass discount business that is focused on low-income consumers, who have been the hardest hit by rising energy prices and tightening credit.
  • What Does The Credit Crunch Mean For Personal Loans? - If you've been paying any attention to the news in recent weeks, you can't fail to have seen some of the masses of coverage of the current financial and economic circumstances, where major banks and other financial institutions are experiencing what's become known as a 'credit crunch'.
  • Credit Crunch Creates a Demand for Storage Facilities in the UK - Adapting to tough conditions is something that we all must learn to do especially now that we're going through a global crisis as far as the economy and credit is concerned. People around the world react differently when it comes to tough economic conditions. Recent studies have shown that in the UK, nearly 26% of people have decided to talk to their relatives in order to address one of the most sizable expenses every adult person has, housing. We all can agree that housing accounts for a good portion of our expenses;
  • Beat Credit Crunch - High Quality Printing at Low Prices - Lots of buzz has been generated by the media all over the world - the economy looks set to be headed for a recession. And UK is affected as well. Thousands of business owners are looking at ways to cut cost to brave the storm that is looming in the horizon. Hopefully, when the storm has passed, the businesses are still standing. There are many measures that a business owner can adopt to cut cost.
  • Credit Crunch Hits UK Housing - The credit crunch is in full swing in the USA and laying in its wake are failed financial institutions, record losses by those left standing, ghost towns awash with abandoned homes, and drastic measure...
  • The Future For Mortgage Brokers – Part 6 - A return to the days in which almost anyone could pass a few exams and become a successful mortgage broker might help the profession return to the situation in which fraudulent activity becomes widespread once again.
  • When it comes to insurance costs, your credit record can be just as important as your driving record - As a smart consumer, it should be no surprise to you that your credit report can affect the interest rate you get on a car loan. The better your credit score, the better your rate. But did you know your credit can also influence your auto and home insurance premiums? It's called insurance scoring, and it can drive up—or drive down—your insurance premiums.
  • Bad Credit Mortgages Contribute To Rising Repossessions - Repossession numbers in the UK are on the rise and are expected to increase further during the current year. Some analysts are putting the blame squarely on bad credit mortgages and the loose lending criteria of the past five to ten years. It is estimated that up to sixty thousand homes could be at risk of repossession during this year alone. This is double the number of home owners that were at risk last year.
  • Are You A Debt Consolidation Candidate? - All around the globe, countries are feeling the crunch of hard economic times. This crunch has inevitably made its way down to you the consumer, and if you did not know what recession could do to you before, then you probably do now through either personal experience or the knowledge of someone else's. You may be looking into other options to take control of your credit, or to head it off, so to speak, before your wallet finds itself in a more difficult situation.
  • The Top 5 Credit Mistakes - If you're looking to improve your credit, you've probably heard a million suggestions on how to go about it. Some advice may be right, but a lot may be wrong. What should you believe? I'm here to help clear up the confusion. Below are five of the most common misconceptions about credit. Get to know the facts, and it'll be a lot easier to keep your credit happy and healthy. So, the top five credit misconceptions are...
  • The Credit Crunch Takes Its Toll - The new year signals a new start for Briton’s finances according to an industry expert. Frances Walker, Consumer Credit Counseling Service (CCCS) spokesperson said that the first weeks of 2008 are the best time for people to control their money situation. The pressure is on people’s bank balances after the excesses of Christmas, and demands on outgoings will increase as the year goes on.
  • The Rental Market Could Be A Winner In The Credit Crunch - As the credit crunch begins to bite hard into family life and businesses, there is one area that is experiencing an upturn. At first you may think this would be a debt management company, however the rental market in the UK is beginning to boom amongst the doom and gloom of the economy in general. The reasons for this are mainly twofold. People who would like to buy a house a now finding it difficult to secure a mortgage in today’s financial climate and so are turning to renting a property as a stop gap.
  • How The Credit Crunch Will Affect People With Debt Problems - By now it's a good bet that we've all heard about the global credit crunch to some extent, even if we've just glanced away in boredom when a story about it came onto the television news bulletins. This reaction is perfectly understandable - after all, who outside the rarefied world of high finance really cares about or understands such concepts as Structured Investment Vehicles and other obscurities? And who cares if banks are taking quite a financial hit, given their huge profit levels over the last decade or so?
  • How To Survive The Credit Crunch - With all the talk of the credit crunch and recession in the news, it's easy to start to feel nervous about the future. Here are a few tips to make sure your business can ride out any rough waves. 1. Watch your cash closely Make cash and cashflow the priority in all your deals. You might be about to win the deal of your lifetime but if it means committing serious cash and relying on income streams from the future you may not be around to enjoy it.
  • Football Fans Being Hit By Credit Crunch - Virgin Money claims that, football clubs are likely to become the latest casualties of the credit crunch. Their latest figures show that as many as 25 per cent of supporters will not be able to afford the ticket prices this year.
  • Long Term Mortgage Delas Helping With Credit Crunch - Research from mform, shows more people are searching for longer term mortgage deals. Research from the group has found that more than 45 per cent of all searches made by visitors to the site were for mortgages with loan terms of five years or more. The company stated that before the credit crunch, this type of arrangement was much less popular. Instead, most consumers opted for two to three-year deals which afforded them the flexibility to take advantage of lower headline rates with different providers. Analysis conducted by mform has shown that currently, long-term deals offer rates of just under six per cent on average, compared with 5.49 per cent for the best two-year deals and 5.79 for the most competitive three-year loan. However, many consumers were interested in securing deals for even longer than a half decade.
  • Home Loans Getting More Difficult - With the credit crunch and the huge number of defaults on the market, banks are really starting to get tough on credit and whom they approve for housing loans. During the early 2000s practically anyone with any type of credit was approved for a housing loan. Why this is the case is rather confusing since it just doesn't make sense to give people with bad credit and low incomes a home loan. Nevertheless, this is exactly what occurred and we are seeing the fallout today.
  • Credit Cards: Opting Out Issues - Some credit card users may begin to notice what are called opting out policies on the back of their credit card statements. These opt out notices are being delivered to some credit card users who are in jeopardy of having their interest rate increased by the credit card issuer. There are several reasons why a credit card issuer may decide to increase the interest rate on a consumer. This article deals with a few of them.
  • Financial Agreement Claims – Help for Families During the Credit Crunch. - Financial Agreement Claims – Help for Families During the Credit Crunch. Are you feeling the pinch during the credit crunch? Help may be at hand in the form of a new finance claim. This new and fast growing financial claims allows customers to audit any finance agreement taken out since April 2007 to assess whether it has issues which could make it unenforceable. All agreement must follow the rules laid down in the 1974 Consumer Credit Act. Many agreements fail to do this. This means you may be able to wipe out your credit card and loan balances. It doesn’t matter if you are in arrears or following a debt management plan or IVA. You can still claim. The types of agreements which are potentially unenforceable are;
  • Buying Homes In A Foreclosure Market - What credit crunch? That's what many home buyers with solid credit and enough money for the down payment are saying during the current downturn in the real estate market. They are much better positioned than they were before the market turned down. And now, even the 30 year fixed mortgage rate is at a low. Home prices almost everywhere have fallen. If you want to buy a home, and you have the credit qualifications, it's a great time to buy. So what changed? Because of the housing slowdown, mortgage rates have dropped. Since houses aren't selling, lenders are doing everything they can to entice buyers, including low lending rates. Treasury securities and the housing slowdown helped force mortgage rates down. Home prices are lower now than last year, and down in most states according to the National Association of Realtors.
  • Improving Financial Conditions with Bad Credit Mortgage Loans - Life gets you into good times as well as bad times. Good time you relish a lot but when you have to face bad time it requires you to have a lot of courage.
  • How to Reduce your Wedding Budget in the UK - Weddings can go from the sublime to the ridiculous when it comes to budget. You only have to pick up a copy of the latest celebrity magazine to read how much modern day celebrities and movie stars are spending on their nuptials. So while some people are fortunate enough to spend tens - if not, hundreds - of thousands on their wedding day, most people will have a budget considerably less than this. And for some it has to be done as cheaply as possible, especially given the pressures of the credit crunch.
  • Buy-To-Let Mortgages Withdrawn - The number of products available on the UK mortgage market has declined rapidly in recent months as lenders tighten their belts in order to lessen the effects of the credit crunch.
  • Quantitative Easing - Will It Revive The Economy - The Bank of England further reduced the Base Rate to 0.5%. This is the lowest it has ever been but what is the next step to take as there doesn't seem to be much manoeuvring space left? This is where the monetary policy of quantitative easing comes in, in an attempt to ease the already flagging economy. What is Quantitative Easing? In its simplest definition, quantitative easing is described as 'printing money', although these days the money does not literally have to be printed but is created electronically. Quantitative easing works by using money that has basically been created out of thin air to to things like buying assets such as government bonds and corporate bonds.
  • Petrol Costs Reduced To Help With Credit Crunch - Three major UK supermarkets have announced cuts to petrol prices in an effort to help consumers struggling with soaring fuel costs, rising inflation and the credit crunch. Asda said yesterday that it would cut prices at the pump by as much as three pence per litre. It said the move had been made possible by recent falls in global oil prices. As such, the group expressed its commitment to passing on these savings to consumers. So too, diesel prices will also be lowered as part of the move, which will affect all of the supermarket's 170 petrol stations across the country.
  • Scottish Savings Forgotten In Battle Against Debt - With the cost of living rising and the availability of credit withering at an alarming rate, many Scots have prioritised keeping their finances protected against rising debt in the battle with the crunch. Such is the claim of Lloyds TSB, which explained that while many consumers have attempted to slay their debt demons, savings efforts have dwindled substantially. According to a study conducted by the group, more than two-fifths (41 per cent) are now saving less than they were six months ago, with 36 per cent of people saying they had concentrated on clearing debt as inflation has risen and fears of recession have circulated.
  • Getting To Know The Credit Crunch - As the stock markets across the world see share prices falling, most people are wondering what caused the credit crunch. Edward Jones, an investment advisor claims that, a basic explanation lies with the sale of adverse loans in the US. This type of lending was supposed to help people with a less than perfect credit rating get onto the property ladder. In the meantime, quite a few American companies were happy to offer these sub-prime loans, it is now obvious that a number of them will go to default as people cannot afford the repayments. And as banks have tallied up how much money they have lost as a result of the unpaid debts, they have also become more wary of handing out cash, with many even cautious of swapping money between themselves.
  • Credit Card Regulation Means Tougher Times for Consumers - The Canadian government is working towards regulating consumer credit cards. Canadian Finance Minister Jim Flaherty believes that these regulations will aide consumers by helping to reduce high credit card interest rates.
  • The Credit Crunch and Your Car - It seems that motorists' pockets are being drained on all fronts as the credit crunch crisis continues to escalate. First of all we saw petrol prices his record highs, enticing many of us to leave our vehicles at home in favour of the far less reliable option of public transport.
  • Do you need your Credit Scores with Credit Report? - I was real excited after I went to annualcreditreport and got my free credit report. But to my surprise there were no credit scores. I started asking myself since everyone looks at your credit score shouldn't I know what my scores are? I would assume there is a reason for a credit score to begin with, and some very important purpose behind this magical number that everyone closely looks at these days.
  • Smart Tips For Getting Your Loan Application Accepted - As the after-effect of the credit crunch in the UK, getting credit has become increasingly difficult for many people of late, due to tighter credit conditions, and many lenders becoming increasingly stringent with regard to their lending criteria. In light of the financial turmoil, lenders are exercising great caution, as e result of which getting credit these days may not be as easy as in the past. In fact, funding has become more difficult for many lenders than ever before.
  • Brits Unable To Save Because OF Recession - AXA is claiming that more than 20 million Britons do not have enough income to be able to save as a result of the current economic climate. The insurer claims, this amount of people have had no option other than to dig into their savings since the beginning of the year, with only 1 out of every 5 earners in the UK managing not to spend above their means.
  • Credit Card Debt Reduction Services - Credit card debt reduction services are becoming more popular as more people find themselves in financial trouble. Consumers who believe that credit card debt reduction services may be an option for them should first do some homework. Two things are important before signing up with any company.
  • Stock Market Trading: Planning To Succeed - Investing in the stock market is very profitable, but there are risks if you don't know what you are doing. There are 8 strategies which set the winners out from the losers. 1. Develop a Clear Strategy. Successful stock trading requires having a clear plan at the outset, and consistently following through on this plan. The market changes every day, and without a clear strategy it is all too easy to be knocked off course. In particular, you must have a clear set of entry and exit criteria, and these must be rigidly followed.
  • Is the credit crunch making you postpone your remodeling project? Financing Options - The economy may be taking a hit, but that's no reason the home improvement project you've been thinking about has to. Contrary to what you may have been led to believe; loans are available! The approval process is more comprehensive than in the recent past and there are fewer lenders in the market. But, with interest rates still at historic lows, this may be the best time to finance that project for a new deck, bathroom, kitchen, or update your family room. Today lenders are looking at borrowers more closely.
  • Kick off 2008 by setting (and sticking to) your financial resolutions - The New Year — it's full of potential and promise. It's also a great time to take control of your finances once and for all. And to help you do just that, we've compiled these tried and true credit management tips. 1. Take time to really study your credit card statements. What are your statements trying to tell you? If you simply file your monthly statements in a box, you'll never know. Try sitting down with them and find out exactly where your money is going each month. That will help you identify problems areas and where you might be overspending. You may find out that your dry cleaning is taking you to the cleaners or that you spend more than you should eating out each month. 2. Create ways to save money.

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