Finance Globe

When credit card debt has you down and you don’t know what to do next, it’s time to formulate a strategy. Once you better understand your situation and the steps you can take, it’s much easier tackle credit card debt in a highly efficient and effective manner. Here are five simple tips that anyone can follow: Make more than the minimum payment when possible. This isn’t always easy to do, especially if you have more than...

A low credit score (also known as a bad credit score) isn’t the end of the world. Even if you have a low score, it doesn’t necessarily mean you can’t live the life you want in regards to your finances. However, as time goes by, you’ll come to realize that a low score is impacting you in a variety of ways. Here are five issues that could come to light: Loan denial: Lenders look at many...

Credit and debit cards make it so easy to make purchases, but they also make it easy to overspend. You can go on shopping sprees without ever leaving the comfort of your home. You can pay bills with the click of button. Unless you’ve told your bank not to process overdraft transactions, they won’t stop you from spending more than what’s available in your checking account. And if you’re short on funds and have decent credit,...

Many people have made the mistake of thinking building a good credit score requires that you go into debt, but that's not actually true. Unfortunately, charging up high balances in an attempt to build your credit score can backfire. If you ever fall behind on a payment or two, you can wind up with worse credit and a mound of debt that takes years to pay back. While borrowing money is part of building credit -...

Filing bankruptcy can affect your credit more than almost anything else, but that doesn't mean you should avoid bankruptcy if it's the best solution to get your finances back on track. Bankruptcy can be the perfect opportunity to start over and rebuild your credit. Here's how you can do it. Make sure your bankruptcy is reported correctly. Order copies of all three of your credit reports. You can use AnnualCreditReport.com if you haven't already received a...

Debt collectors do several things to try and collect debts from you. If you've ever had an account in collections, then you're already aware of the phone calls, letters, and placing the debt on your credit report. They also pull your credit report to get more information on you. Unlike most other businesses, debt collectors don't have to ask for your permission before they check your credit report. Credit reporting law automatically allows collectors to check...

Your credit score is an important number to keep up with, especially if you have a major loan coming up. For example, if you're planning to buy a house or car in the next few months, your credit score affects whether you're approved for a loan and the terms. Your credit score also impacts whether you have to pay a security deposit when you apply for utilities and similar services. Credit scores go up and down...

If you're dealing with multiple debts on your credit report or you're getting calls and letters from debt collectors, you may wonder if the debt is still valid. Debts generally don't "go away" just because they get older. However, older debts do reach a period where they should no longer affect you or your credit. There's a one time limit that a debt can be listed on your credit report and another for the amount of...

A suspicious charge on your credit card. Calls from collectors about accounts you didn't know of. Alerts of new inquiries on your credit report. These can all be signs that someone has stolen your identity. Confirming identity theft can take time. But if you think someone may be using your personal information, you want to prevent them from leaving more damage for you to clean up. Here's what you should do if you think your identity...

Building credit for the first time can be both exciting and stressful. On the plus side, you’re ready to take this big step in your financial life. Conversely, you have some concerns about the moves you’re making and the short and long-term impact. Here are five things to know about building credit for the first time: 1. It’s Every Bit as Important as it Sounds Don’t talk yourself into thinking this isn’t important. Even if you...