Jobtube Money

The electoral roll
If you have registered to vote and your credit file does not show this, please contact the credit reference agencies listed at the bottom of this article and they will investigate the matter. If you have not registered to vote, you may want to contact your local authority about filling in an electoral registration form.

If you move home you can tell your local authority who will tell credit reference agencies about your change of registration in the course of the year.

Court judgments
If you believe a county court judgment has been recorded incorrectly, you should contact the county court, quoting the case number included on your file. If the judgment was recorded incorrectly the county court will alter their records. Credit reference agencies are told about any such changes within four weeks, but if you give them original court documents, in the form of a Certificate of Satisfaction or Cancellation, they may be able to change their sooner if necessary.

If you have paid a Scottish Decree, you should send Registry Trust (address below) a receipt or a letter from your creditor (known as the pursuer) to confirm your payment.

If you write to Registry Trust Ltd questioning the accuracy of a judgment recorded on your file, asking for an entry to be changed, you should send a cheque for £4.50 to cover their search fee. They will then tell the credit reference agencies about any change to your file.

For judgments made in Northern Ireland, if you provide documents from a plaintiff to confirm a payment, the agencies will change their records. If you have any questions about the accuracy of a judgment recorded on your file, contact the court concerned.

Registry Trust Ltd.
173-175 Cleveland Street
London W1P 5PE

Bankruptcies
If a bankruptcy order against you is annulled (cancelled) or discharged (that is, you have met all terms), you should send a copy of the Annulment Certificate or Order of Discharge to the credit reference agencies. They will then update their records. If your bankruptcy has been annulled they should completely remove any record of it from your file. If your bankruptcy has been discharged a record of it will be kept on your file but it will show that it has been discharged.

Voluntary arrangements
If you have any questions about a record of a voluntary arrangement you should contact the supervisor who dealt with your case. If you send documents from the supervisor to confirm that the information on your file needs to be changed, the agencies will change their records.

Credit accounts
After carefully studying the credit account details (credit cards, loans, mortgages, etc.) on your file, if you believe any information needs to be changed you should write to the lender concerned and ask them to give the correct information to the credit reference agencies.

Searches
Credit reference agencies will delete searches only when they are instructed to do so by the company who searched your file. If you are concerned about the accuracy of a record of a search, you should contact the company which carried out that search.

Linked addresses
Links between your previous addresses, or any addresses you may use for correspondence, may be listed on your credit file. The link will only be broken when the reference agencies are asked to do so by the organisation that created the link.

CIFAS
If you have any questions about a CIFAS record, write to the organisation concerned. If you disagree with that organisation over the information on your file, ask the organisation for details of the scheme for settling disputes.

Financial associations (shared financial responsibility)
If a financial association is shown, and you do not share a financial responsibility with the other person, or if that financial association no longer exists, you should write to the credit reference agencies. They will investigate the matter and make any necessary change to your file.

Aliases
If any names are shown on your credit report that you have never used, you should contact the company listed as providing the other name, or write to the credit reference agency and they will investigate the matter and make any necessary changes to your file.

Information about other people
If you share no financial responsibility with any other person mentioned on your file you can ask the agencies to ‘create a disassociation’. This breaks any connection between your information and theirs and so makes sure their information is removed from your file, and that your information is removed from theirs. To do this you must give the agencies your, and the other person’s, full name and date of birth, details of your relationship and any shared addresses.

To view your personal credit information that lenders are currently basing their credit decisions on, apply online for a credit report from Experian, the UK’s largest credit reference agency, now.

You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian.

Click here for a free 30-day trial and a free copy of your credit report

Posted by Mark at 06:05 PM | Comments (0)

January 31, 2005

10 golden rules to conduct finances

Taking some simple steps can minimise debt and go a long way towards building wealth.

Saving is good, credit cards are bad, pay off your mortgage . . . these are no doubt just some of the isolated pieces of financial advice you've come across.

But with no overarching strategy or method of prioritising all this sometimes conflicting advice, it can feel as though you've got all the instruments but no orchestra.

Here are 10 simple steps that should tie together the isolated tips to help you conduct your finances into a recognisable symphony.

1 MANAGE YOUR DEBT

The golden rule is to always pay credit card debt first because it attracts much higher rates of interest than other loans.

A great way to speed up this process is to switch to a better deal. The market for credit cards has become much more competitive so it can pay to shop around for a low-rate card.

2 LIMIT YOUR CREDIT LIMITS

Once you have credit card debt under control, think about reducing your limit. Not only is the extra credit a temptation to spend what you don't have, high credit limits are a liability when you try to apply for finance because the entirety of these limits are counted as debt, rather than just what you owe.

3 MANAGE YOUR COSTS

Limiting the number of transactions to your account can save plenty over time. If you're buying groceries, use cashback to pay and take cash out at the same time.

First, cashback is cheaper than using a cash point and, second, the two transactions count as one, which brings down the cost further.

4 CONSOLIDATE YOUR PENSION FUNDS

About one in three people has "lost" pension funds. If you have changed employers since super was introduced but haven't transferred your fund you could be one of them. "So?" I hear you say. Multiple funds come with multiple fees and charges, which will be eroding your retirement stash. You may also be paying for insurance cover from more than one fund.

5 MORTGAGE OR MARKET?

Pay the loan or play the sharemarket? It's not a crime to invest when you've got a mortgage but make sure your after-tax return is higher than the interest on your mortgage or it won't be cost effective. The reason is that by paying off your mortgage you are effectively earning a tax-free return which is equivalent to your interest rate.

click here to read the rest of the article

Posted by Mark at 02:21 PM | Comments (0)

January 26, 2005

Boost your credit rating

MSN Money

Here are a few financial facts of life you need to know

1. Having credit cards/loans etc can actually boost your credit rating

Although running up debts like there’s no tomorrow is a bad way to go about things, having a credit card, taking out a loan and having a mortgage, can actually improve, rather than hamper, your credit worthiness. This is because as a good borrower (one that maintains a good credit history by making payments in full and on time, and keeping in contact with their lender) it means other financial services companies are more willing to lend to you.

2. A job shouldn’t be for life. Moving around is often the best way to realise your true earnings potential

Feeling over-worked, under-valued and under-paid? Then tell your boss where to stick it – once you’ve found yourself another job to go to, that is. The fact is that many people who up sticks and get themselves a different job, find both their earnings and job satisfaction levels rise too. You see, just as doing the same old, same old, week in, year out, can make us bored and disillusioned, the same can happen to bosses too. They know us, they think they know what are capabilities are, and so most of the time, when promotion looms, they don’t give us a second thought. But how many times does it rankle when you see a newcomer being given the chance to shine at something you could have done twice as well - given half the chance? Well, it’s time to look after number one. You find someone new to impress too. And I bet you’ll be impressed with how much you’re really worth.

3. Your bank won’t necessarily reward you for your loyalty.

Are you two-timing your bank? Well you should be. Much like bosses, banks like fresh meat and will do everything they can to entice it in. Many banks focus their attentions on wooing new customers and ‘reward’ their loyal, long-standing customers with much poorer deals. So you, loyal customer, are long forgotten. “But that’s not fair,” you may well cry. But you can cry all you want, for they don’t care. They’ve got you. They know that. They assume you won’t go anywhere. Statistics show most people are more likely to get divorced than switch their current account to another bank. And what’s more, you probably won’t either – as it always seems more bother than it’s worth. Well, it’s time to change that. It’s time to get out there and play the banking game. After all, if your bank’s going to treat you as easy meat it’s time to find someone who sees you for the tough, exciting prospect that you are.

4. Your boyfriend/girlfriend WON’T change for the better once you’re married

A lot of mums have an old-fashioned attitude to marriage. “Once you’ve got him/her down the aisle s/he’ll become a lot more responsible. It’ll be the making of him/her,” she’ll tell you. If you give a wry smile and think “not my guy, nothing will stop him spending/boozing/smoking etc in a million years”, then you’re a smart cookie. You see, in mum’s day 90% of girls who got hitched, got to jack in their day job, leaving poor old hubby to carry the can financially. But as a lot of dads say about their younger counterparts, “they never want to be men now, they want to stay as boys.” And they may well have a point. You see, roles have changed. For better or for worse, you decide. The good news for today’s newly-wedded man is that a lot of women like to keep their jobs. The bad news for any girls out there, who’d hoped to find Mr Right and then spend the next 40 years spending his hard-earned cash, is that 90% of men today also expect their wives to pull their weight, money-wise. So don’t expect to get hitched and have Kevin the couch potato transform post-nuptually into Simon the City whizzkid - with the Porsche, the cash and the penthouse pad to go with it.

As relationship expert Catriona Willis, says: “Anyone who thinks they can change their partner, or anyone who thinks their partner will automatically change once they’ve got a ring on their finger, will be sorely disappointed. Few people change just because they’ve got married. Fewer still change for the better.

“Take your partner for who they are,” she advises. “If you don’t like them, don’t marry them. If in doubt, bow out. But whatever you do, don’t marry them, then start trying to change them. That’s a centuries old mistake that has failed time and again.”

5. Although there may be no ‘right time’ to have kids, some times are ‘righter’ than others

Kids change your life. They change everything from your body (girls), to your choice of car (boys) and perhaps more importantly, your cashflow (boys and girls). Kids cost a fortune. So having a regular income, a nice home and a stable relationship makes the task of child-raising a hell of a lot easier. The cost of raising a child is no longer something your mother (or mother-in-law) has to contend with – you’re grown up now. So next time you hear the now familiar complaint about your having failed to furnish her with a grandchild when all her friends’ offspring have had the courtesy to oblige, stop feeling guilty and explain one of the facts of modern life. Financially, you’re not ready yet.

Posted by Mark at 04:16 PM | Comments (0)

Gender pay gap is greater in London

The pay gap between men and women is significantly wider in London than the UK as a whole, according to new research for the Mayor of London. Women in the capital earn on average 25 per cent less than men, compared with 18 per cent less across the UK. At the same time the most common female occupation in London pays £5.38 per hour, while the most common male job pays £17.30 - three times as much. One of the reasons, as revealed in the report, is the concentration of women in low paid jobs in the capital and being excluded from more lucrative male dominated occupations.

Another report published last week by the London Business School revealed that 177,000 more women set up businesses in UK in the past year - closing the gap between the number of male and female entrepreneurs.

Women are under-represented in London's managerial and senior occupations by 25 per cent but over-represented in administrative and secretarial roles by 62 per cent. Even in sectors where women are concentrated there are fewer women at the top. In business, women represent only 6 per cent of directors of FTSE 250 companies based in London, while only one business in ten is owned by a woman. Even when women are on the board, the average total remuneration is less than half that of a male counterpart.

These findings are revealed in Women in London's Economy, a report for the Mayor of London, which details the huge inequalities women in the capital face in employment. The report contains new research from GLA Economics as well as case studies from women in and seeking work. It sheds light on the factors that prevent more women in London from taking an active role in the economy and contributes to the current discussion on legislative changes needed to create laws that really challenge women's inequality.

The report finds that London's output would be raised by almost £1.5 billion a year if the proportion of women with dependent children in the capital in part time employment were raised to the average national level. This is equal to almost 1 per cent of London's entire economic output. It finds that having dependent children significantly reduces employment rates for women in the capital compared to the rest of the UK.

Ken Livingstone said: 'London's future as a world city depends on using the talents of all its citizens to the full. As this research shows we need to make far better use than we currently do of women's potential in the capital's workplaces.

'Women are the majority of London's population yet barriers often prevent them playing a full part in the capital's economy. The inequalities revealed here are bad for women and bad for London's economy and society.

'This report also demonstrates the importance of improving the provision and affordability of childcare in the capital, and has implications for national policies on employment, benefits and equalities.'

Mary Reilly, Chair of the London Development Agency and a partner at Deloitte, who is speaking at the conference, said: 'Women are in a much better economic position now than they were 30 years ago - but as this report shows in recent years the UK as a whole has improved far more rapidly than London. We need to foster a culture shift amongst employers in the capital to improve workplace flexibility and equal pay and ensure more women fulfill their potential both in terms of personal achievement and economic success. This will deliver benefits to companies themselves by attracting more women into the workplace and help ease the skills shortages which exist in many areas of the London economy. Women in London's Economy highlights that there are strong arguments for creating a positive duty for employers to promote equality in the treatment of women and men employees.'

The report's findings will be discussed by over 300 London businesswomen and policy makers and opinion formers at a conference on the role of women in London's economy at City Hall on 13 January. The report will also inform the Mayor's submission to the government's Women and Work Commission

Posted by Mark at 03:53 PM | Comments (0)

January 18, 2005

Five Things To Do With A Windfall

The Motley Fool

It's January, traditionally a time for pay rises and bonuses. You may have received some money that you weren't expecting too (inheritance/gifts etc). If you are lucky enough to have come into a lump sum of money and are wondering what to do with it, here are five ways to use £5,000.

1. Reduce Your Debt

It's dull but so worthwhile.

There's no point having a savings account, even one earning 5%, if you have debt on credit cards/loans accruing interest at 10% plus! Paying off your expensive cards and loans should be your number one priority - just think about how pleased you'd be if you had no debt!

And anything left over could go into one of the following options:

2. Put It In Your Pension

Yes, the boring option - you don't want to wait until you're 65 to see it again. But there can be big advantages of using your pension allowance are huge.

If you were to put that £5,000 into your pension, as a basic rate tax payer you would automatically get an extra £1,410 from the tax man. So your windfall is now worth £6,410. You'd get even more if you pay higher rate tax, as you get a refund from the tax man worth an additional £900.

If you are a member of a company scheme, you can pay an additional voluntary contribution, but first check to make sure these charges aren't too high.

3. Pay Off Your Mortgage

Provided your mortgage lender allows it without penalty, overpaying your mortgage is a great way to use a windfall. By reducing the interest payable you will lessen your term or reduce your monthly payments, and generally achieve a better return than you could by saving it as cash.

4. Save It

If you're likely to need your windfall within the next five years, or you don't have a rainy day account for emergencies already set up, putting your windfall in savings would be the most sensible. There are some good rates of interest available (check out our Savings centre for accounts paying 5%+), but for tax-free returns remember you can save up to £3,000 a year in a mini cash ISA.

5. Invest It

Provided you can leave your money along for at least five years, the stock market could be the way to go for better returns than a savings account. That doesn't have to mean buying and selling of shares - there are less scary methods, such as using an investment trust or an index tracker. These are simpler ways to invest in the stock market, with lower charges than most other forms of investments.

If you haven't already taken out an ISA this year, you could open a maxi share ISA with your £5,000, and you'd still be able to add up to £2,000 until April 5 if you wished. And if you have taken a mini cash ISA already, remember you can still take out a mini share ISA with up to £3,000. Have a look in our ISA centre to find out more.

Deciding what to do with a lump sum is a difficult decision, but if you can forgo the idea of blowing it all on a spending spree, you may find it satisfying to make that windfall even bigger!

Above tips by Motley Fool.
Or you could SET UP YOUR OWN BUSINESS!

Posted by Mark at 08:00 PM | Comments (0)

January 06, 2005

Credit Cards

Although credit cards have many advantages they are, on the whole, an expensive way of borrowing money. This is because the credit card company has no security on your debt (unlike your house in the case of a mortgage), and because of the flexibility that you enjoy in when you can repay the balance.

The world of credit cards has changed dramatically over the last few years. Not that long ago, interest rates of 20% plus were the norm. However, there has been an influx of new entrants recently offering far better rates and discounted rates on balance transfers. In addition the government is currently in the middle of a consultation process concerning the introduction of CAT standards for credit cards. So now is a good time to take at a look at your existing cards as there may be substantial savings to be made.
About half the population has a credit card having, on average, two cards each. Approximately half of those who do have a credit card claim to pay them off in full each month. However, according to Datamonitor, the average balance carried per cardholder is £1,140. Make no mistake, a credit card can be a dangerous weapon in the hands of those who don't know how to use them properly.

Know Your Cards

Do you know your debit card from your credit card? Many people don't. Here's the low down on the differences between the various types of plastic.

Debit card - automatically takes the money from your bank account after a few days. It's basically an electronic cheque.

Credit card - you get sent a monthly statement and decide on how much to pay off each month.

Charge card - you get sent a monthly statement but have to pay it off in full each month. American Express is the most famous example.

Charity card - similar to a credit card but a small proportion of every pound you spend is donated to charity.

Store card - the instrument of the devil. Frighteningly easy to get but with toe-curling rates of interest. Some still charge up to 30% a year. Avoid at all costs, unless you are certain that you will pay them off in full each month.

Posted by Mark at 02:27 PM | Comments (0)

December 22, 2004

Motley Fool tips

Posted by Mark at 09:54 AM | Comments (0)

November 25, 2004

Ten Things You Should Know About Money

Here are ten tips that you'll love, but the banks will hate!

Cut The Cost Of Christmas
Christmas need not be so costly with a 0% credit card. The Fool can point you to a range of credit cards offering zero interest on balance transfers and purchases. Some even offer cashback rewards!

Beat The ISA Rush
Always make the most of your tax-free ISA allowance. So get ahead of next year's rush and order your free ISA guides now!

The Curse Of The Best Buy!
You have to be careful when choosing Best Buy products, thanks to these peculiar curses...

Lessons From The Demise of The VCR
Dixons plans to stop selling video recorders by the end of this year as consumers switch to DVDs. What does this mean for your old video collection?

Bankruptcy Is Big Business
Personal bankruptcy is on the increase. Why?

Five Years Of Managing A Public Portfolio
Maynard Paton celebrates five years of managing the Qualiport by recounting some of the lessons he's learnt.

These tips are all from the Motley Fool

Posted by Mark at 04:49 PM | Comments (0)