Are you planning on applying for a loan anytime soon? If yes then here is something you might want to consider: when you go to meet with the loans officer make sure you are in a relaxed mood and have all the documentation and numbers that might come up on the course of discussing the approval of your loan. Going through the loan aplication process can be quite stressful and if you are prepared then it will go much smoother and you will have a better chance of recieving a personal loan or mortgage. You must also remember that whomever is responsible for approving your loan will be working from a general set of financial critera but they also have their own job performance on the line and don’t want to be responsible for approving a loan that might be defaulted on.

The number of Americans filing for consumer bankruptcy increased by nearly 40 percent in 2007, according to the American Bankruptcy Institute.  In a report released Thursday, the ABI said that the number of overall consumer bankruptcy filings reached 801,840 last year, compared to 573,203 in 2006.

“The roughly 40 percent spike in consumer bankruptcies during 2007 presages] even higher filings this year, as the heavy consumer debt load is made worse by the home mortgage crisis,” predicted ABI Executive Director Samuel J. Gerdano.  A statement echoed by others in the industry.

However, the report also showed that the number of bankruptcy filings declined 7.5 percent in December from November. And Chapter 13 filings - those available to individuals with regular income whose debts do not exceed specific amounts - also showed a decline from November to December.  It appears that bankruptcy has become a method of doing business.

So the world of low interest rates is finally starting to catch up with me. Because of the low rates over the past few years I kept applying and getting approved for every new “low rate” introductory offer available. Now a year later all the interest rates are jacked up and I really have to figure out how to get my credit cards in order, or find someone that offers 0% credit cards! The best way to keep your finances healthy and your credit card debt affordable is to do credit card comparision shopping, find the lowest rates that last longer than 3 months.