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Archive of the posts written by author: Michael Foster.

Factors Affecting Credit Score


The credit score is an expression used to determine one’s creditworthiness. An analysis of a person’s credit files sourced from credit bureaus is done by lenders to make decisions on whom to lend money. Credit scores are used to determine whether you qualify for a loan or not, and at what interest rates and credit limits. To have and maintain good credit is crucial when you need a loan, it will help in speeding up the process. Bill payment history, level of debt, credit history age, number and types of credit inquiries are some of the significant factors that affect creditability.

Financial Background

35% of your credit score is determined by bill payment history. To have a good credit score, you should ensure all your bills are paid on time. It is challenging to acquire a loan if you have any bill payment issues, like repossession of assets due to lack of payment. Even going against the payment agreements affects your credit score negatively. This history is usually recorded by credit bureaus. The best way to keep your credit score up is to ensure your records are presentable.

Amount of Debt Owed

Another factor that affects 30% of your credit score is the amount of debt you owe creditors. This shows that you apply for other loans when you still have pending loans. Lenders and loan companies look at the amount of overall debt you carry, credit utilization and your loan balances. Lending money to someone is a significant risk and lenders will want to have maximum security on their money. Preventing high levels of debt by paying before acquiring another loan ensures a high credit score and attracts lenders to invest in your projects. With a high level of debt, one might end up getting late with some payments, thus increasing the credit history age, which is another factor that affects creditability.

Late Loan Payments

The longer you stay without paying a loan, the lower your credit score goes. Ensuring you pay loans on the agreed time, protects your credit score. It also increases your creditworthiness because investors would trust an individual that respects the terms of the agreement. This contributes to 15% of your credit score, and it considers the age of your oldest account and the average age of all your accounts. To protect your credit score, one should have one account or a few to also provide security for your investor’s money.

Credit Accounts Under Your Name

graph credit
Creditworthiness is also determined by the types of credit accounts on your report; these are revolving accounts and instalment loans. Having both contributes to 10% of your credit score, it is not significantly impactful but still relevant. Other than credit cards, one should also have loans for assets and even personal loan accounts.

Number of Credit Inquiries

The number of credit inquiries, especially over short periods, contributes to 10% of your credit score. Each time you apply for a loan; an inquiry is placed on your credit report. The more inquiries you make, the likelihood that your credit score goes down. It is okay to have a few inquiries, but you should avoid making several inquiries at a time. Some loaning companies limit you to either one or two inquiries per day to prevent a high number of credit inquiries, helping you maintain your credit score.

Being creditworthy is essential in today’s economy in order to run multiple things with limited capital. It helps you manage to start businesses or acquire assets without having sufficient funds. Some other factors indirectly affect your credit scores such as income, bank balance and employment status but are not a factor in the expression that calculates your credit score. It is vital to maintain a good credit score to access loans easily.…


Ultimate Guide to Finding the Best Cincinnati Investment Advisors


Cincinnati investment advisors and other financial and service advisors all around the world play a big in increasing the net profit of our ventures. It is a wise idea to hire an investment advisor on whatever business you want to venture into. Many benefits come with taking this worthwhile step. However, not all business advisors are trustworthy or experienced. Some are just online scammers who are after exploiting the unnoticing clients. Therefore, you need to be extra keen when choosing your new business advisor. The following tips will guide you into choosing the best advisor that will help you elevate your business to another level. Continue reading to make an informed decision.


signing contractDefine Your Needs

The first thing to do before hiring a business advisor is to determine your needs. You need to have a plan on where you want your business to be within a given period. When you approach a financial or investment firms like from Foster and Motley, you must be able to provide them with an overview of where you want to be in a given period. So if you’re going to expand your investment within a given period, you need to define all your needs and aspirations. This will lead you to the right investment advisor. If your money is handled properly and feed to lively and proper places, your business will flourish. It is important to know where you want to be so that you get an advisor who will enable you to reach your target.


Type of Advisor

There are many types of advisors. You need to know the kind of advisor to seek help from. Some of the common types of advisors include; financial planners, registered representatives, financial managers, and general advisors. After you define your needs, you will surely have a clear picture of the type of advisor you need.



After knowing the type of advisor you want, make sure you approach some advisors and shortlist those that have an impressive track record. When you shortlist let’s say ten investment firms, you will have a clear lead that will get you the best advisor. So, choose an advisor that has a combination of the following values.



You do not want to gamble with your hard-earned money by hiring someone who is illiterate in financial matters. Make sure you choose a firm that has well-qualified and certified advisors. They should be will to produce their qualification credentials whenever you ask them to. Also, do not hesitate to leave out an individual who does not have documents that ascertain their qualification.



Another important aspect is the experience. An investment firm that has been in the industry for a long time is good for you. There is a big reason why they are still preferable by some investors. To ensure that you choose your next investment advisor based on their experience in business consultancy.



Professionalism is a great virtue. You can tell the level of professionalism of a given firm even by going through their official website. A professional investment advisor must have a proper and reliable customer service both on the internet and offline. The way their representatives handle you when you first visit or call their offices matters a lot. They should always work under well-defined paperwork.



Finally, look at their rates. Try to understand their services before you enter into a deal with them. Also, try to brush away the misconception that those that ask for more money have better services than those that are cheap. Learn their policies and their previous successes before you sign any contract.…


How To Choose An Ambulance Cover Company


In life, we need to get an ambulance emergency or comprehensive cover to take care of our health issues. Sometimes in life accidents occur. They are not intended for or expected but they happen, and the patient needs to be rushed to the hospital to avoid loss of life. If you have a family ambulance cover, it will be convenient for you to rush any of your family members to the hospital.

Before you purchase any ambulance cover, you need to know the members that will be covered and the type of ambulance cover you need. Reliable sources of information are on the internet concerning the various ambulance cover companies. You only need to evaluate the services of the various companies and then choose one. It is good that you decide whether to pick emergency or comprehensive ambulance covers. Below are tips to guide in your choice of a good air ambulance provider.


Licenses and safety

A good ambulance cover company must be licensed. When the company is licensed it means that the company is allowed to provide their services to the public. Ensure that you know their safety record too. Consider the best air ambulance companies. Companies rated as the best by your country. When you are sure that the company is licensed and safe for you, then you will be sure that there may not be any accidents expected.

pregnant woman

Know the owner

When you are buying an ambulance cover, it is good that you know whom you are dealing with. For example, be sure whether it is the owner or the ambulance broker or operator. The broker might find the airplane for you while the owner owns the airplane. Ensure that you demand to know the owner so that he can assure you of the safety record and the aircraft’s maintenance history. The owner has a lot of knowledge about his property compared to the broker.


Medical crew and the flight crew

If the ambulance cover company owns aircrafts, then they will hire both flight crew and medical crew. These employees will be hired if they are well trained and meet the qualifications of the job. The medical crew is expected to have specialized training and additional certificates that make them different from the other medics. The flight nurses and doctors are trained specifically on flight physiology and on how to operate the special medical equipment in an air ambulance. The flight workers should be experienced and have enough knowledge of flying internationally.

Services to further assist you

Look for those aircrafts that will offer you additional services, a company that further assists you in matters to do with transport and the like. A good ambulance company should be able to arrange for your transportation, help you with your baggage and contact your ambulance cover company on your behalf. If your insurance company rejects you, for instance, they should be able to give you a good attorney to represent you so that you get all your rights back and all your issues are well taken care of.…


How to Calculate Diminished Value


If your vehicle has been damaged in a collision or wreck, the evidence of repairs is likely to have a negative effect on the resale value of your car. This is the case if you intend to sell it in future. The reduction in worthiness is called diminished value. This is an insurance concept which was developed with the intention of helping estimate loss of value of a vehicle following damage or accident. You should learn how to calculate diminished value. It does not matter whether your car does not display obvious damages; it is likely to experience diminished value. Remember that you have a legal responsibility of disclosing information about your car and whether it was involved in an accident to your potential buyer.

Understanding diminished value

damaged carIf you have a new car going for $20,000 and it is involved in an accident, the insurance company offers to repair your car. Even if after repairs and your car looks like new, it is not. In fact, if you decide to sell the vehicle, you are likely to sell it at a lower price, let us say $15,000. Thus, the diminished value can hurt the resale value of your car.

Research on relevant laws

You should note that different states have different laws on diminished value claims. In fact, some even do not recognize these claims. There are also variations about exactly how diminished value can be calculated. You should search online for the particular diminished value laws that are applicable in your state to get an idea of your rights.

Filing diminished value claim

dimished value claimDepending on the nature of your case, you may qualify to file for diminished value claim. As noted above, this is dependent on the state’s laws and the particulars of the case. Nowadays, there are several attorneys specializing in diminished value claim. Find a reputable lawyer in your locality and discuss the case with him or her. It is advisable to file the claim as early as possible. This is because, in some states, there is a deadline for filing such a claim. The lawyer will also advise you whether the claim is worth to pursue or not.

Determining diminished value

Nowadays, there are many websites that have diminished value claim calculators. These tools can help you determine the estimated amount you can claim. However, it is advisable to consult professionals as they can offer you insights and ideas.…


Useful tips to get a personal loan approved

seniors loan

You may be having a smooth running life. However, that does not mean that you do not have a problem. For instance, you may face a difficult or emergency situation at any point in your life. If it is a financial emergency, personal loans can be the solution you need. With a loan, you will get some adequate cash that can meet your personal needs. However, getting a loan is not that easy. You need to follow certain steps and abide by the terms of the loan provider to get approved.

Check eligibility criteria

loan eligibility The majority of loan providers do have a criterion for eligibility. For instance, some demand that borrowers ought to be within a given age group. They will also need to check the amount of your income per year. Others will want to check that you are not a defaulter of past loans or even credit card bills.

Verify the credit score

This is what lenders use to determine before giving out a loan. Therefore, before you apply for this particular loan, you need to check the credit score to ensure your loan plea does not get rejected. If the scores are not adequate to be rectified, this increases your chance of getting your loan approved. It can also get you attractive interest rate.

Give genuine details

When applying for a loan, ensure you give all details which are best to your knowledge. In fact, lenders do doubt your intentions and will need to check everything. They can also consider calling you to verify the authenticity of the documents you provided. Therefore, when you provide the genuine information you increase your chance of getting approved for the loan.

Avoid several applications

debt loan It is advisable to aim for the realistic loan amount. Avoid asking for huge amounts as your case is likely to get rejected. Also, a lot of people make the mistake of applying for the loan at various places. In such a case, lenders are likely to doubt your intentions and your chance of loan approval reduced. In fact, several applications can affect one’s credit score.

Sources of income

If you have a good work history, then you are likely to impress many money lending companies. If you have been working for about two years, then you have an added advantage. Avoid switching jobs to maintain a good source of income.…


How to fix bad credit


When you have a bad credit score, you experience a lot of financial difficulties. It feels like people are discriminating against you because of your score. Lenders will try to avoid giving loans, and when they do, they force you to pay higher interest rates than people who have a good rating. In addition to this, you will find it difficult to get into any financial agreements because of this. Therefore, it is good to fix the situation as soon as possible. Contrary to what many people believe, getting out of this financial mess is not too complicated. You only have to commit some steps, and things will start to work out. Many people thought they would never correct it, but they have. Here is how to fix bad credit.


Start Paying On Time

One of the reasons you always lose points on your credit score is because you delay most of your payments. When companies receive payments late, some of them will already have reported this to credit bureaus. This means that even though you have paid, your score is dented. This can be avoided if you come up with the list of bills that you need to pay every month and know the dates when they are due. You also can make things better if you automate some of these payments. When you do this, the money will automatically be sent to the companies.

Plan To Pay Your Debts

NO DEBTS Have you paid off your student loan? What about the other loans that you have borrowed? Paying off your loans is the best way to get back into the good books. If you have bought items on credit, make a point of paying. You do not have to pay everything at once. You can set aside some amount every month to pay for these items. Before long, the loans will be cleared. Another important thing to note about this; after you clear your debts, make a habit of not borrowing when you do not need the money anyway.

Monitor Your Credit Card Usage

Poor credit card management techniques also cause a bad credit rating. Some people do not care about what they pay for. In fact, they do not crosscheck their transactions to ensure that they are paying the right bills. If you take time to look at this, you will notice that there are many things that you should not have paid. Some people have had double deductions, but they had no idea it was happening. You also should improve the security of your card so that nobody uses it without your consent.


Some cases can be complicated. There could be something putting you in difficult conditions, which only experts can understand. In this case, it will be good if you find a financial planner near you and ask for their advice. They will analyze your situation and come up with the right plan.…