How can you repair your bad credit & improve your score in malaysia

Credit is a record of your borrowing activities and reflects your intention to repay a debt. Financial institutions review your borrowing history before offering you a loan. So, in order to obtain loans at a favorable interest rate and terms, you must improve your credit score. Find out some tips on credit repair:

Plan a budget for yourself: You should plan out a budget for yourself and start saving a little money each month so that you can pay your bills on time and become current on past due accounts.

Obtain your credit report and analyze it: Financial institutions review your credit report before offering you a loan. So, the most important tips on how to repair bad credit would be to obtain your credit report and analyze it for incorrect and incomplete information.

You can obtain your credit report free of cost from the Bank Negara Malaysia by submitting copies of your ‘MyKad’ and any other documents like driving license or passport that can verify your identity. You will be given your report during the visit. You must go through it very carefully to verify if all the information given on it are accurate.

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Insurance trends in the US - 2

Statistical data showing changes in the insurance sector

*In 2007, insurance premiums totaled approximately USD$4.061 trillion. This figure escalated to USD$4.270 trillion in 2008, an increase of 6.3%. This is the figure obtained worldwide.

*As many as 2.31 million people were employed by the insurance industry in 2008 in United States

*Life insurance companies in US held assets valued at USD$4.51 trillion in 2008

*The insurance gross premiums were USD$1.13 trillion in US, making the nation the largest insurance market worldwide.

*In Caribbean as well as Latin America, insurance premium volume totaled USD$104.9 billion

However, the biggest change the insurance industry is expected to undergo is in the health care sector. The Obama Administration is planning to introduce health care reform that is anticipated to offer better options to the Americans as they are currently at the mercy of the health insurance plans that are thrust upon them by the private health insurance providers.

Insurance trends in the US

Insurance as well as the risk management industry is indispensable. You cannot do without an insurance coverage whether it is insuring your home, vehicle, health of yourself or your dear ones, your assets or your life. However, one of the major causes of concern is the rise in the premiums you pay to your insurance carrier. This holds true especially after recession set in.

As far as auto insurance is concerned, there were many consumers who set their vehicles on fire (an act referred to as barbecuing a beamer) so that they could avoid paying premiums or make claims for their auto insurance coverage.

Health care costs too have escalated over the years. Americans have been complaining that they have to pay high premium for a coverage that is inadequate. This is because rate at which health care costs have escalated doesn’t match the pace at which wages increase. As such consumers find it difficult to cope up with the rising costs.

to be continued....