Finance Globe Blog

U.S. financial and economic topics from several finance writers.

3 Things to Consider Before Settling a Debt

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If you fall behind on a debt, your creditor may extend an offer to settle the debt for less than the balance due. When you settle a debt, you pay only a portion of the balance due and the creditor cancels the rest of the debt. Settlement offers are typically only made on past due and charged-off accounts and on debt collections. If you’ve received a settlement offer from one of your creditors, here’s what...
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Does a Fraud Alert Provide Enough Protection?

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With the increased amount of data breaches comes an increased need to protect your identity from being stolen. Once a thief has your personal and financial information, they can use it to make unauthorized charges on your account, open accounts in your name, take over your current accounts and leave you to deal with the fallout. Fraud alerts have been a way to protect your identity for several years, but is a fraud alert enough?...
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The Personal Information Section of Your Credit Report

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At least once a year, you should request a copy of your credit report and review it in great detail. While it’s easy to focus most your time on the public records and credit accounts sections, there’s something else that deserves your attention: the personal information section. Your goal is to review each section of your credit report, paying close attention to every detail to ensure that there are no mistakes or incomplete information. Remember...
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How to Improve Your Debt-to-Income Ratio

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Your debt-to-income ratio is an important financial measure that tells the percentage of your monthly income that goes toward debt payments. In addition to your credit score, lenders use the debt-to-income ratio to approve your loan applications. Many lenders use your debt-to-income ratio to decide whether you can afford to take on mrore debt. Thankfully, unlike your credit score, you can calculate and easily manage your own debt-to-income ratio without much trouble and guesswork. Calculating Your...
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Wanderer
Great write up on how the Debt to Income works and the things we need to know to stay on our game. Working on mine so that I have ... Read More
Wednesday, 28 February 2018 18:55
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How Debt Collectors Find Out Where You Work

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If you think you’re safe from debt collector calls at work, think again. You’d be surprised at how much information a debt collector can find out about you with a few phone calls and internet searches. Debt collectors may call your job looking for you, particularly if they’re not able to get in touch with you any other way. You may be surprised to learn some of their tactics. Your original creditor . When you first applied...
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The Top Benefits of an Excellent Credit Score

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You don’t need an excellent credit score to live a good life, but it can definitely help you feel better about your financial situation. If you’ve checked your credit score and don’t like what you see, there’s no better time than now to take action. Here are a handful of benefits that come along with boosting your score into “excellent” territory: •    Lower interest rates. Are you applying for a car loan? What about a...
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Wanderer
Sure can relate to the benefits of a good credit score. In my case it has allowed me to get the best mortgage rates, lowest car in... Read More
Wednesday, 28 February 2018 19:06
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Habits to Help You Pay off Debt

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Everyone usually knows they need to pay off their debt. However, it is much easier said than done. If you really want to get out of debt and stay out, there are a few habits that can help. Below are a few habits that can help you lower your expenses and pay off your outstanding debt faster.  Track, record, and monitor all expenses: The first thing to do is to track, record, and monitor your daily expenses....
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How to Calculate Your Monthly Interest Payment

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​If you are not a math wizard, and you do not have any kind of accounting / finance background, you may not know how to calculate your monthly interest payment. Yet I can guarantee you will have to pay a monthly interest payment throughout your life. Whether it is through a mortgage, a car loan, a student loan, or a personal loan, you will have to pay some kind of interest payment. I think it...
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The Most Important Things to Do When Trying to Pay Down Debt

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Racking up debt is a problem for many people. It happens fast, and sometimes people do not realize the situation they are in until its too late. When you do realize you have too much debt and you want to begin paying it down, below are the most important things to do and consider when you are trying to pay down debt. Stop creating new debt: The most important thing to do first is to...
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What Are Your Credit Repair Rights?

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If you’re looking for ways to improve your credit, perhaps so you can buy a house or car, you may consider hiring a credit repair company to help you. Before you pay hundreds or thousands of dollars for a company to fix your credit, make sure you understand your rights. You have the right to have errors removed from your credit report for free . When you find errors on your credit report, you can...
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Frank
Thanks for these tips Latoya, I was not aware of all of these!
Friday, 23 February 2018 14:23
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