Debt Consolidation – What to Look For, What to Watch Out For
With recent market dynamics, the average American has accrued more debt than savings, which is detrimental to long-term financial health. Many options are available that can assist you in achieving your financial goals to free yourself of heavy debt. Debt consolidation has become a growing trend for consumers to conveniently lump all of their monthly payments together into one solution. Many professional debt consolidation experts can help you through the convenience of the Internet. Debt consolidation ...Credit Card Debt
"You’ve been pre-approved!" You see these all the time. Credit card companies do anything to gain your business – why wouldn’t they? With their huge interest rates, that’s a lot of extra cash they can profit off you, if you carry a balance every month. And with it being so easy to simply put all your purchases on this convenient little piece of plastic, it’s no wonder so many people carry massive credit card debt. ...Credit Repair Services
Yes, you can repair your credit report yourself, though it does take time, research and paperwork. Many people choose not to spend their valuable time learning consumer laws and the process of formulating dispute letters, preferring to let a trusted expert take care of it. This is where a legitimate credit repair service can help you. These companies specialize in credit and consumer issues, and know the strategies and nuances in dealing with the credit ...Free Credit Reports
How to Order Your Credit Reports The only authorized website where you can order your credit reports for free is at Annual Credit Report (www.annualcreditreport.com). This site is operated by the three major credit agencies and is the central hub where orders are placed. You can also order them by phone through each of the three credit bureaus. The Major Credit Bureaus These are the three main credit bureau agencies operating in the United States:...Credit Scoring is like a Teeter Totter
Back in the days when it was okay and acceptable to have dangerous, limb-breaking, skull-cracking playground equipment on school playgrounds (You know, the kind of toys that were actually fun to play on?), I remember fondly the HUGE Teeter Totters we had next to the Kindergarten Portables at Fern Hill Elementary in Tacoma, WA. Possibly my perspective is affected by my advancing years and the fact ...Credit Scoring In Plain English
Most people understand that there are 3 major credit bureaus who keep track of all your credit transactions, and that they give you a rating – known as a “credit score”. But very few people understand how this “score” is actually determined. It is a complicated mathematical scientific formula locked away in a secret vault somewhere, but you don’t want “complicated”, “mathematical”, or “scientific” mumbo jumbo to stuff in your head, so ...Credit Report Errors? Or Deliberate Misreporting?
You just got a copy of your credit report and it is full of errors and accounts that aren’t yours. Your first reaction is to get mad at the credit reporting agency for being so stupid and ruining your life. But hold on a second there pardner… Before you direct your anger at the wrong place, you need to understand that the credit reporting agencies rarely make errors. The report you have in ...“SAFETY NET” Credit Scoring Factor
Lenders and credit card companies use your credit score to help determine how likely it is that you will pay back the money they lend you. Fair Isaac Corporation, the creator of FICO credit scores (the most commonly used credit scoring system) has a breakdown of the relationship between your credit score and your chances of being a “Good Player” vs. a “Bad Player” (see chart here). So, your credit score reflects an estimate ...How Many Credit Accounts Should I Have?
Many people ask me, “How many credit account should I have?” I could give you a “Well, it depends...” kind of answer, but you are reading this looking for real answers and advice, so I’m going to boldly give you an answer. I don’t know of any scientific study that suggests that my answer is the correct one. All I can tell you is, I’ve dealt with literally thousands of credit reports over the ...Latest Articles
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