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Introduction:-
In the Credit Secrets eBook you
will learn the insider secrets and practical real world information about
credit, finance and debt, based not on hearsay and old rehashed, outdated and
unworkable ideas taken from other manuals but on years of knowledge and
experience, both personal and from friends, colleagues and business associates.
The information is based primarily on the way the credit system operates here in
the UK but still has much useful knowledge and many very useful tips for
American and other readers. In fact, the credit systems in all parts of the
developed world are very similar. No prior knowledge of the credit system is
assumed.
The methods and
ideas disclosed take time to put into operation. Look on the process of building
credit worthiness as a medium to long term venture.
What Is Credit & Finance?
The
Basics Explained
Credit and finance
are sums of money extended (lent) to you on the promise that at a later date you
will either pay them back plus interest or, at the very least, just continue to
pay the interest on these debts indefinitely (called servicing the debt). The
sole aim of the creditor (those who loan you the funds) is to make a profit out
of you. This may sound obvious but many people seem to treat the ability to
obtain credit as free money. This is particularly true where credit cards and
other forms of 'revolving credit' (credit which has to be serviced on a monthly
or periodic basis by the payment of a small fraction of the debt and / or any
interest which has accrued during that period) such as store cards are
concerned.
Unfortunately, many
people learn the hard way by getting into debt they can't escape from. This can
cause hardship in the short to medium term but can be a good thing in the long
run as you become much more financially aware and knowledgeable.
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