Follow proper procedure to cancel your credit card

A credit card has become one of the most convenient tools in this complex business world. Credit cards add to your convenience, and it is one of the safest methods of transacting your business dealings. Now, take a look at the other side of a credit card. As mentioned in the article dated August 4, 2016 published in RJ (Las Vegas Review Journal), if you do not properly manage the credit card, then it can land you in a debt trap. In order to avert such a situation, you may consider credit card debt cancellation.

Increase in cases of personal insolvency:

According to the Australian Financial Security Authority, during the last three months, the number of personal insolvency cases has increased by about 13.7%. This increase is attributed to the loss of employment and various other types of personal financial attributes. With the loss in income, you also fail to make payments on your debts and keep wondering how to cancel debt on your credit cards. A default in payment on credit cards will attract additional interest, which slowly draws you into the debt trap.

Drawbacks of being declared insolvent:

The debt trap created by the credit card can even force you to apply for being declared as insolvent. But, declaring personal insolvency has its drawbacks too.  Once you are declared insolvent, it can affect your future credit eligibility, and in some cases it can even affect your future business. In some cases, you may become ineligible for certain specified category of employment.

Keep away from debt trap:

Therefore, before applying for personal insolvency you must have a thorough knowledge on the consequences of personal insolvency. On the other hand, it would be advisable that instead of getting debt trapped and applying for personal insolvency, you should prefer to seek credit card debt cancellation. See more at Debt Mediators

Cancellation does not end by clearing the debts:

You may wonder that in Australia alone out of about 16 million credit card holders, each year nearly 1.1 million apply for cancellation of their cards. But, you should also understand that the credit card debt cancellation does not end with paying your debts on the card. In order to cancel the card you will have to follow certain procedures.

Primary card holder:

In the first place, you should remember that only the primary card holder can seek cancellation of the card. If you have authorized any direct debits like the EMI on certain purchases you have made, then such debits should be stopped. Then clear the outstanding amount on the card and make sure the debt balance is zero.

Call the helpline:

Now call the credit card company and after verification procedures inform the person on the helpline about your intention to cancel the card. Get the confirmation from the person that your card is cancelled. Make a note of the date, time and the person to whom you spoke on the issue.

Follow up:

You can also send a letter or mail to the credit card company confirming your discussion with the helpline regarding cancellation of the card. You should also ensure that you get a letter or mail confirming the cancellation of the card. Now, it is time that you destroy the credit card in the appropriate manner.

Five Reasons Why You Need a Home Mortgage Broker

When you want to shop for a family doctor or you want to buy a new car, you will have to get quotes from different service providers or suppliers. The same happens when you need a new home. Whether you are a first-time homebuyer or a veteran in property market, reliable brokers for home mortgage Rogers MN has to offer can provide a substantial amount of support. There are various reasons why you need to consider services of these intermediaries. Here are top on the list:

Home Mortgage Rogers MN

They offer appropriate guidance

Especially if you are a new entrant in the home buying market, you need some hand holding from those who are experienced in the industry. Getting loan to buy a home entails a good amount of paperwork, which may not be a familiar process for a new person in the market. However, with an experienced person in the field, you need not worry. For instance, if you work with certified agents for home mortgage Rogers MN has to offer, the broker will guide you into a suitable lending option that meets your expectations.

They know the market

Since they work on property buying and selling on a regular basis, mortgage brokers have adequate knowledge about the market, more so when it comes to dealing with various lenders in the market. As such, they know properties in various locations that can be suitable for your needs, which they can match with the right lending option.

If you face the market without expert guidance, you can find it quite challenging and even some dealers can take advantage of your ignorance to exploit you. With a reliable broker for home mortgage Rogers MN currently has, you can avoid the challenges and find a suitable lender and property to meet your needs.

They are experienced in the industry

If you approach the lending market on your own, you are bound to meet challenges when it comes to choosing the right option that is suitable for your needs and different lenders to consult. Brokers for home mortgage Rogers has can help you eliminate lenders based on what you need and on your budget. With their knowledge and experience in the field, they know the best rates that can meet your needs and lenders that do not have stringent conditions for borrowers. See Equity Source Mortgage.

They handle almost everything on your behalf

Dealing with a broker for home mortgage Rogers MN has to offer will give you peace of mind because the agent handles almost everything on your behalf. They negotiate with the lenders, organize paperwork, and ensure every aspect of the process is observed for you to obtain the loan. From the beginning to the end, you can rest assured that the process is in the right direction.

While some people approach lenders without involving a broker, experts agree that working with a reliable intermediary can help ease the burden of dealing with mortgage lenders. Brokers for home mortgage in Rogers MN are some of the service providers you can get in touch with for more information about mortgage brokers.