Save Big Money ($$) By Negotiating With Your Phone or Internet Service Provider

We are always looking for ways to save money these days, but one of the lesser known options that we all have is to get a reduced rate from our phone and internet service providers. While car title loans can be a great short term answer when you need a little extra cash, lowering your bills is something that can save you money month after month.

Research! Research! Research!

The first thing that you have to do is research other providers so that you will know exactly what the differences between all of the packages are when you are speaking with your service provider’s representative. This part of the process is a lot easier these days compared to just a few years ago because there are multiple websites that can compare the prices for you.

How Much You Can (Actually) Afford?
Next you’ll need to figure out for yourself exactly how much you can afford to pay based on the rates that you researched earlier. Some people might want to save as much money as they can, while others will want to get extra features added to their plans. Sometimes you can even save money while at the same time adding features that you didn’t have before.

Negotiate With Your Service Provider
Lastly, you’ll want to call your service provider. The best time to call is when your service contract is about to expire, but you might even have some luck if you call them even before that. If your contract is about to expire, talk to the rep about the current discounts that they are giving to new customers, while also pointing out competing companies’ lower rates that you looked up earlier. It’s important that you keep calm during your call with the representative that you talk to so that they understand why you believe you should be paying less than you currently are.

In reality, this entire process could take about an hour of your time, which is nothing when you think about the amount of money that you can save. As long as you understand what you are paying for and what you could be paying if you were with other companies, there’s a great chance that you can save money by lowering your rates on future bills. And, if all else fails, you always have the backup option to switch service providers to the best one that you found while researching the subject.

There are many money saving tips that will work for some people, but negotiating with a service provider to save money is something that anyone can do. It’s just a matter of figuring out what you’re paying now and then talking to your provider about why you should be paying less. Just remember that companies want to keep your business, so if you have a good case to lower your rates, chances are you will get the price reduction you’re looking for.

For more money saving tips and financial services visit prudentcreditrepair.ca

How to Avoid Identity Theft in Canada

Even progressive economies like Canada are not spared from the world-wide crime of identity theft. Identity thieves practice their unlawful trade by stealing important personal information from their victims through legit identification sources like driver’s licenses, Social Insurance IDs, credit cards or bank accounts. These thieves can use the information to obtain merchandise, services or credit, or establish a new identity to run away from other crimes or misdeeds they have committed.

The ultimate loser is the legitimate owner of the personal information.

How Identity Can Be Stolen

Identity thieves come from all walks of life, preying on innocent victims in government, public offices and private businesses or on private individuals. Modern day thieves do it online through illegal hacking while many others still do it the old fashioned way.

You’d never know, for instance, if the person behind you in a crowded ATM queue is secretly peeping into your PIN. When you’re filling out personal information on a form as you renew your motor vehicle registration, a person sitting beside you may be silently memorizing those information. Your garbage dumpster sitting outside your home is another fertile ground where thieves can comb for discarded mails and bills.  

The most feared of all identity thefts is professional computer hacking, where hackers can launch cyber attacks in various ways, targeting multiple and bigger victims. They can easily decipher weak passwords. They are able to install and hide malicious codes in spam email attachments or images on dubious websites, waiting for unsuspecting surfers to click on them. They can attack computers that don’t have firewalls and do much more on unprotected computers.

How to Protect Your Identity

If you think your mail, personal files and computer are safe, think again and remember to make it a habit to do the following:

·             Shred all paper trails that contain your personal information. Dispose of documents containing your personal information like utility bills, bank account statements, unused credit application forms, medical records, financial statements and communications by shredding them into confetti sizes to prevent them from being re-assembled.

·             Be discerning when asked for identification. Don’t give your identification number or card to just about everybody who asks for it purportedly for identification purposes. Ask why they need it and verify if the person or office is authorized to require it.

·             Don’t fall into the trap of opening emails from unknown sources. They may look like official-looking emails from legitimate companies like banks and financial institutions, but many spam emails are just mere baits to get your personal information. If you have some doubts, verify by phone or visit their office if it is accessible.

·             Get updates on your credit report. Personal information are stolen to be used for acquiring loans, applying for credit cards, opening bank accounts and making other financial transactions. Reviewing your annual credit report from any of the accredited credit bureaus – Experian, Equifax and TransUnion - helps you find out if there are unusual changes in your credit activities.

·             Be discreet when keying in your PIN. Always use something to cover the keyboard when using an ATM to prevent prying eyes from stealing your PIN.

·             Seek the services of an identity theft monitoring company. For a minimal fee, you can have your credit reports monitored, frozen and placed under fraud alert.

Identity theft is a grave crime that can destroy the future of innocent victims. Physically safeguarding your wallet, jewels and other precious belongings is difficult enough but shielding your identity online and offline is even more confounded. Stay alert.

For more information regarding repairing credit rating after identity theft visit prudentcreditrepair.ca

Say bye-bye to pennies and hello to multiple nickels!

Well, it has already started, I went to Metro over the weekend to pick up few groceries, and then at the cash register BIG RED SIGN caught my attention- no more pennies.

So, I asked myself, why do I care?

For me there is a nostalgic feeling attached to it, after all pennies have been around for the last 137 years. It’s also very interesting to see how Google has commemorated the passing of Canada’s one-cent coin today with a special Google Doodle featuring an animated penny.

So, what happens next?

First of all, the new rounding system is in effect. This means any purchases ending in $0.1, $0.2, $0.6 and $0.7, will be rounded down, while those ending in $0.3, $0.4, $.08 and $.09 will be rounded up.

Please note electronic transactions will not be affected.

Secondly, creative Canadians buckle up! The Mint estimates six billion pennies will be recovered, although some 35 billion pennies have been produced since the Mint opened in 1908.

Also, there is a spike on sales of coin-designed jewelleries. So use your imagination with old pennies to make jewelleries or just save them as a part of your Canadian coin collection.

Unfortunately charitable organisations will be affected the most as pennies go obsolete. According to Canadian Guide Dogs for the Blind raises about $300,000 in coins every year — a large portion of which is pennies, says spokesperson Steve Doucette. (source: CBC news)

Tell us how you feel as we say good-bye to our ‘Maple Leaf’ featured copper coins?

Join our facebook page www.facebook.com/prudentfinancial or our website prudentfinancial.net

Do You Ignore Small Balances on Your Credit Card? Bad idea!

Sometimes you may receive credit card statement with outstanding balance showing in pennies. You may ask; ‘why would large companies send me an invoice of 6 cents when it costs them 67 cents to mail it in the first place?’

This is because large companies have to report unpaid outstanding balances to the credit bureaus.

So regardless the amount—no matter how small it is-- can downgrade your credit rating.

So what can be done?

Always check your credit card statement. If there is an outstanding balance, pay it off immediately. If you are unsure about balance owning or don’t have access to your credit card statement, contact your credit card company to keep your account in good standing.

This is very important as no matter how small the unpaid (even pennies) balance is, the credit bureaus will report a “failure to close the account paid in full.”   These words will sink your overall credit ranking making it difficult to get a loan or even a mortgage!

Still not convinced! Read the true story on Moneyville on how this lady only owed 3 cents but was denied a mortgage as her loan was not paid in full.

For more financial advice and great credit repair tips visit prudentfinancial.net or join our facebook community at facebook.com/prudentfinancial 

BAD CREDIT PERSONAL LOANS? WHICH TYPE OF LENDER TO CHOOSE ?

What is a bad credit loan?

Basically, it is a loan with a very low or bad credit score as a result of defaulting on loan payments, showing R9's on your Equifax report, going into collections and ending up in bankruptcy or consumer proposal. These loans are often called "sub-prime" loans and are perceived as high risk and therefore involve higher interest rates.


Can I get a car or personal loan if I have bad credit?

Yes, there are many sub-prime lenders out there who will advance loans for cars, personal loans and mortgages -- but approval will depend on how much you owe and if you are in arrears.

Also, the amount you can loan will depend on your income, job, length of time on job and if you have the collateral of a paid off car or a home with sufficient equity.

The more collateral, the better your chances of getting a loan at better rates.


Is there a difference between bad credit lenders for personal loans?

Yes. Big differences. See below.

Finance companies which offer loans you are required to repay over one year or more (depending on how much you borrow) with fixed monthly payments including both interest and principal. Some allow you to pay off early and therefore pay less interest.

 Some allow you to postpone payments without charge. Some also help repair your credit score by reporting to Equifax. You receive the highest rating if you pay on time. Ask about each company's rates, credit repair services and charges for holding a payment and if you can pay off the loan early.


Pay day loan companies which offer fast, short-term loans from payday to payday which usually must be paid back within two weeks, or occasionally over a month.

These loans are only meant for short term. If you cannot pay back within that time, your interest will quickly grow not only on the principal of the loan but on the unpaid interest.

 Your interest will skyrocket by hundreds and thousands of dollars depending on how long it takes you to repay.
The difficulty of paying off payday loans which go into default often results in taking out a second loan in order to pay off the first.

In the U.S., 76% of payday loans are repeat loans, or loans that are being used to pay off the original.


Credit card cash advances are often used instead of loans. The problem here is that often only the minimum payments are made and while this seems convenient this practice leads to huge interest charges.

 Also, it will take an extraordinary amount of time to repay your loan.You must read your credit card statement carefully to see how long it will take you to pay back what you owe if you only pay back the minimum amount.


For example, if you make only the minimum payment of $40 on a balance or $2000 -- it would take you 30 years and 10 months to pay it all off and you would end up paying $4931 in interest!

The safest bet is to select the right finance company where you are given time to pay off all your interest and principal, open loans you can pay off early, repayment flexibility when there are problems, and an opportunity to improve your credit score.


Since 1984, Prudent Financial Services has offered the best credit repair services and the lowest-cost rates for people with bad credit histories in Toronto and the GTA. We offer fast same day car and personal loans. Also, Prudent Mortage Corp. offers competive mortgage and home equity loans. For more information about PRUDENT FINANCIAL SERVICES, visit our web site: http://www.prudentfinancial.net


Also, visit Prudent Value Cars, our quality pre-owned car dealership where you can get the car you want and the loan you need all on the same day. Visit our showroom inventory at http://www.prudentvaluecars.com.

Applying For a Low Rate Home Loan with Bad Credit

We all make mistakes and some of these mistakes could be financial mistakes that have caused your credit rating to plummet or even forced you into bankruptcy. Now you’re in the position where you need a mortgage so what do you do? Don’t be discouraged, there are lenders who specialize in lending money to people with bad credit histories. Here are some steps to take when you apply for a home loan with bad credit:

Your credit rating – Your credit score can have a serious impact on your mortgage so request your credit report and work through it with a fine tooth comb. Correcting even a single simple mistake on your credit history could potentially save you money when applying for a low rate home loan and make you a better prospect.

Income - It’s important that when you meet with your lender that you demonstrate your efforts in turning over your new leaf. Share what your willingness to make right what you’ve done wrong in the past. You can do this by showing them that all your credit cards and outstanding bills are paid off or carry very low balances. Don’t have applications for new credit as this will make lenders very suspicious about your risk factor. You will need a steady income source so quitting or changing your job is a definite no-no.

Price – It’s very unlikely that a lender will issue a mortgage for a home that you can’t afford. Figure out your debt to income ratio to get an idea of how much you can afford monthly. Remember that interest rates are a factor in your monthly payments and they may rise so consider your options such as locking in your mortgage.

Down payment – The more of a down payment you make, the less of a risk you’ll look in the lenders eye and the greater your chances are of getting approved. Because you have so much invested in the property, you’ll most likely not default on the loan. Factor in the all other fees such as closing costs.

Once you fill out the loan application, be sure to review the terms so there are no surprises later. Always stay on top of your payments and create a great rapport with your lender!

For more valuable information and tips, visit http://www.prudentcreditrepair.ca/

Credit Repair Scams and How to Avoid Them

It seems like every store you set foot in today offers you credit cards. With the opportunity to be able to apply right at the checkout counter and get a new credit card instead of having to buy out of pocket for your purchase, and with promises of easy approval, these cards are certainly tantalizing. But they also carry dangers with them – dangers that can impact areas of your life that you're unlikely to be considering while filling out the simple application for them. In short, retail credit cards can carry some very serious threats behind them.

The Pro’s and Con’s of Credit Cards:

• In most cases, credit cards don't have quite the flexibility or the better terms that some of the best credit cards have.

• Some may have great interest rates, but many have higher than average ones. And if you find yourself in a financial bind, they're usually among the first cards that you decide to skip a payment on.

• Carrying a high balance or missing payments on your credit cards, even retail credit cards, can not only impact your overall credit score and make it more difficult to get a personal loan at a great interest rate, but they can also affect your homeowner's insurance.

How Credit Cards can affect your Homeowner’s Insurance

• Seventy five percent of customers in a recent surveyed had no idea that bad credit could drive up their homeowner's insurance, but it's the truth.

• And since a huge number of people include their homeowner's insurance in their mortgage payments, that means that your monthly mortgage payments may end up being even higher than they should be.

• It's hard to fathom, but the allure of retail credit cards could actually result in you having to pay out a higher mortgage payment and get worse insurance rates on your home and even your vehicle. Because of these, there's been talk of trying to make some changes.

The repercussions you never knew in the Fine PrintThere's now talk of filing formal petitions to change this unfair practice. Insurance companies don't have to ask for your permission before checking your credit score due to a simple matter of confusing contract wording. Most never even realize they're paying more for insurance due to their credit score. And since homeowners still paying loans have to have insurance, there is actually very little that they can do once their credit score drops. With inaccuracies in credit reports being fairly common today, and with the shady nature of these insurance rate increases, most agree that the time has come to change this system completely.
For more valuable information, visit www.prudentcreditrepair.ca