Friday, July 16, 2010

While choosing a Credit Counselor, points to be remembered

According to the new laws of bankruptcy you need to do credit counseling. But here is a point most of the credit counselors are scamming & they are charging high fees.
So, it is very important to choose your credit counselor carefully. Few tips are below....

1. Appoint a personal counselor. Try to avoid those counselor who are providing services through mail or any other medium.

2. Look into their fees. Most of the counseling companies are charging high rate & this will partially increase the total debts of yours. Take the set up before signing up any deed. Their charges, limitations, feedback from their other clients etc.

3. Need to verify the authenticity of the counselor whether all of his certificate are valid or not. Apart from this the counselor do have the licenses in your respective state or not that also you need to check.

4. Your privacy is important. In this financial industry privacy is one of the most impostant factor. So, make sure your counselor are able to maintain your financial privacy or not.

5. Don't go for debt management companies. The reason behind is they will charge a huge amount & this is not mandatory in new bankruptcy laws.

If this points you will keep in your mind you will probably get a best credit counseling service in bankruptcy.

Thursday, July 1, 2010

Diversification is important while investing

Do not put all the mangoes in the same basket. It may damage the whole one. So,diversification is important here. Same thing is applicable while investing.

Diversification is the core word in investment. Most of the successful investors are making their portfolio which is widely diversified. I think every investor should do this.

So, invest your money not only in one stock distribute it among purchasing bonds, in money market accounts & also in real estate. It is simple to understand if you will put all money in only one equity & if that is go down then your full investment will go under huge loss.

If you are interested in equity investment then diversify your funds in different equities instead of one. Then may be one or two is going down but your investment amount will not go down because rest of the equities will support you. so, in the crisis period also you can expect good return from your investment.

So, diversification is the keyword to get success in this finance industry.