credit score calculator

What is a Credit Scoring and How Does it Affect Your Loan Application?

Credit scoring is a computer program based on algorithms that helps entities make decisions based on the evaluation of financial and personal data collected from a specific client. Through the result or score obtained, the approval of a financing operation will be recommended or not.

loan With this artificial intelligence system, risks are analyzed, and responses are homogenized without having any subjective or emotional biases that distort the information to avoid making wrong decisions and, ultimately, that the operation leads to a default situation. In this way, artificial intelligence replaces the traditional risk assessment formula once carried out by bank employees themselves.

A credit score consists of studying the percentage of income that the user receives in relation to pending payments or the indebtedness rate based on equity or working life, among other variables. Once these variables are entered, the system concludes whether there is a real risk and the user’s ability to pay.

Advantages of Having a Positive Score

If banks detect a customer withgood credit score a positive score, they will soon knock on your door to offer you credit cards and even pre-granted loans. Also, suppose it is the citizen who goes to the entity to request a mortgage or liquidity for other purposes, he will have no problems accessing the money. The conditions will be better with lower interest rates, and the possibility of signing longer terms will be higher than in the profiles with more risk. Having positive solvency data will also benefit you when renting a house, a policy, or insurance covering future rental defaults.

Risks of a Negative Credit Score

If your scoring is low, the entity will always apply higher interests than in the opposite case. In the case of having an adverse credit history, the bank can also increase the requirements to grant the loan or require a guarantee of protection in case of default. The bank can also choose to directly deny you the money, although there are credit platforms that do lend to clients even if they have a negative score.

Improving Your Credit Score

If you have a negative financialcredit score scoring or have been blacklisted, you will always have the option to try to move forward and improve your credit history. Setting a monthly budget for expenses and income, paying your debts on time, and not exceeding your debt capacity are basic rules to keep your credit history at bay. But if your credit reputation is “tainted,” you can always try to erase the past and start from scratch.…


The Basics of Tax Rebate

Taxes can be quite challenging and confusing when you don’t know a whole lot about them. It may also be tricky if you don’t know how to balance it out. When you don’t know the tricks as well as the ins and outs of tax, it can also be quite expensive. To save you from spending a lot of money on taxes, you can utilize this thing called a tax rebate.

Some people refer a tax rebate as a tax refund. It is the amount of cash that the HM Revenue and Customs give back to someone who has overpaid their taxes. Here are some things that you should know about tax rebate:


calculatingSometimes, tax rebate tends to happen automatically when HM Revenue and Customs recalculate your taxes. However, most of the times, you will have to apply for a refund yourself. It will give you an estimate of how much money you can be entitled to.


To know whether or not you are due a refund, you should assess your circumstances. Some circumstances that make you eligible for a tax rebate include starting a new business, washing your own work uniform, or using a personal vehicle to travel to workplaces that are temporary. You are also eligible when you work under CIS or when your employer took too much tax away from your salary. The refund will depend on your personal situation and circumstances, and claims can be backdated back up to around four tax years.


doing taxesYou can actually claim back quite a lot of things on tax. However, the HM Revenue and Customs must know your circumstances as well as all the expenses that you paid so that they know if you have any tax that is overpaid. Some items that you are able to claim tax back include traveling expenses, mileage costs, rail season tickets, uniform cleaning costs, payments for professional subscription, other supporting expenses, and in certain circumstances, you can claim a tax rebate for food. You can also claim other expenses according to your circumstances.


When you want a hassle-free tax rebate, you can utilize or ask services for help. They have tax experts that can prepare the claims and follow through on your behalf. When you want to do it yourself, it can be a lengthy and complicated process. You will have to ensure that you have taxes that are overpaid because if HM Revenue and Customs do not know about it, you won’t be eligible for a tax rebate. After that, you file a claim properly, and then they will recalculate your income tax. After that, your account shall be credited and you can apply to credit your account with the overpayment.…

bankruptcy file the claim

What to Do When a Customer Files Bankruptcy

It is estimated that over 200,000 bankruptcy cases are filed every year. If you have been alerted that your customer has filed bankruptcy, there are certain things you ought to do. You should note that one filing for bankruptcy does not mean that you cannot get the amount of money the customer owes you. In this case, you should follow a certain protocol.

Do not contact the customer

bankruptcy do not call the customerBankruptcy sets certain rules for communication between a creditor and a debtor. From the moment you get a bankruptcy notice, you are not supposed to contact the debtor or even ask for a payment. This is known as automatic stay. Usually, a trustee is assigned the account, and he or she is in charge of the debtor’s debts and assets.As much as the notice will give you the contact information of the trustee, you will not be provided with detailed information concerning the bankruptcy. Remember that the trustee’s office cannot offer you legal assistance.

Hire a bankruptcy attorney

You should note that bankruptcy attorneys not only work for debtors, they can also assist debtors. Remember that bankruptcy law is quite complicated. If a lot of amount of money is involved, it is a good idea to hire an attorney who specializes in bankruptcy law.

Another important part of bankruptcy law is preference clause that means debtors cannot prefer one creditor over another. This means that a trustee must go to every creditor who the debtor paid in the last three months preceding bankruptcy filing. However, if a creditor is a business partner, insider identity, or family member, then a trustee is required to check back an entire year. In such a case, a defense attorney can be of great help to you.

File proof of claim

bankruptcyUsually, the bankruptcy filing notice you get includes information on the manner in which a debtor owes you. Why are you owed a given amount of money? It is a good idea to file the proof of claim. Failure to file, you are bound to forfeit your rights of being paid. This process is quite straightforward, and a lawyer can help you.

Attend creditors meeting

Usually, creditors will be invited to a meeting also known as 341 hearing. At this point, the debtor is required to explain how his or her business got into bankruptcy. This is your opportunity to ask questions.…

tax professional

Reasons Finding the Right Tax Professional Can Save You a Lot of Money

Just as you finish winter season, the tax season is here. You find it challenging as you have not planned your tax reports. It is unfortunate that every year, you will find yourself in the same situation. However, if you hire a tax professional, this season can be quite different. He or she can help you to be more organized as far as your finances and taxes are concerned. Do you think it is a good idea to hire a professional to help you? The following are some reasons to consider hiring a tax professional.

Provide information on your income

tax information provided by tax consultantsRemember that you are required to provide adequate information about your income. This is inclusive of you and your partner. Moreover, you are required to declare income from investments and side jobs. Fortunately, a tax expert can help you add deductions to the taxes that mean you are getting more money in your pocket.

Prepare banking information

A tax expert will gather bank account information, joint accounts, and individual accounts. They will help you know where your tax returns belong. In this way, they eliminate the guesswork that results in inconsistencies that can lead to deadly audits.


Usually, deductions are classified as non-business or business. Business deductions include office supplies, mileage, and utility bills. On the other hand, non-business deductions are student loans, property taxes, and charitable donations. A tax guru can help you whether you miss some money.

Prepare tax documents

In some instances, you may be required to provide past tax returns, investment records, pay stubs, and pension information. This particular level is quite important because a tax professional is not going to demand a lot. Remember that the process entails accountability on your consultant

You should not expect instant numbers and results. When you hire a tax professional, he or she will need to access your financial situation. This will take a lot of time. They ought to check the numbers to find out the type of money, which is owed to IRS. Also, you can get an opportunity to examine your past tax history and check whether IRS owes you some money. It does not matter whether it is the first time you are hiring a tax professional, remember that it is the best decision you can ever make.…