Finance Globe

While you can get a free credit report through AnnualCreditReport.com, your credit score isn’t included in the deal. But, you may be entitled to a free credit score after certain credit and loan applications.Credit Score Disclosure Requirement Lenders are required to send credit score disclosure notice to all applicants who are denied credit or who are given unfavorable terms because of their credit score. That’s if your credit score was a factor in the decision. The...

Bankruptcy has a bad reputation for ruining lives. Truth be told, if you're considering bankruptcy, life may not be that great right, especially where your finances are concerned. But, bankruptcy's negative reputation might keep you from filing even though it could be the best solution for your debt. For some consumers, life is actually better after filing bankruptcy. Once you file bankruptcy, you’ll get an automatic stay from most collection activity. That means that many of...

Multiple payments, various interest rates, and different balances can make it difficult to pay off credit card debt. Not to mention the nuisance of juggling various due dates and payment amounts. Consolidating credit card balances can make debt repayment easier even if it’s just because you have one monthly payment instead of three or a dozen. How You Could Save With a Personal Loan Let’s say you have five credit cards with a combined balance of...

Cosigning is generally discouraged because of all the things that could go wrong. For example, the other person might not keep up with the payments. If that happens, the late payments are added to your credit report and the creditor will eventually come after you for payment. If the other cosigner files bankruptcy, you’re left on the hook for the entire debt. Even if things go as planned, cosigned debts can still affect your credit score...

Even though the banks that issue credit cards and loans consider your income when they qualify your application, how much you make isn’t a factor that influences your credit score. In fact, your income isn’t even listed on your credit report (your current employer is listed, but that doesn’t affect your credit score either). Credit scoring calculations don’t use your income to determine your creditworthiness, but your salary and wages can still have an impact on...

Bankruptcy comes with many rules. It’s important that you follow them all, otherwise your bankruptcy case could be dismissed. If that happens, you’ll have to wait several months before you can file bankruptcy again. Or, you may have to figure out another way to deal with your debt. Here are a few mistakes that could lead to bankruptcy dismissal. Hiding assets so you won’t have to give them up to creditors. In a Chapter 7 bankruptcy,...

Many of us have probably been guilty of thinking that a just a few extra hundred dollars in our paychecks would forever end financial problems. But that’s not always the case. Each time a famous/rich files bankruptcy, the rest of us wonder how they could possibly blow so much money. “If I had that much money…” we think. But with more money comes the tendency to spend more and perhaps the same problems as celebrities who...

Waiting for a response to a credit card or loan application can be nerve wrecking. You might half-expect to be turned down if you know you don’t have a good credit history. On the bright side, if your fears are realized and you are turned down, lenders have to tell you why, even if your credit isn’t the blame. ECOA Adverse Action Notice Under the Equal Credit Opportunity Act, the lender must tell you the specific...

An important financial measure that lenders use – and that you can use too – is the debt-to-income ratio. Lenders use the debt-to-income ratio to qualify you for a loan because it tells the percentage of your income is spent on debt payments. If the ratio is too high, you may not get approved because the lender will assume you can’t afford another debt payment. You, too, can use the debt-to-income ratio to gauge your financial...

Hackers target companies that store sensitive consumer data – like passwords, social security, numbers, and credit card numbers – all the time. Unfortunately, some hackers are successful at dodging company firewalls and stealing customer information. Some of the biggest data breaches of all time have happened in the past few years. Every customer whose data is stolen is at a greater risk of becoming an identity theft victim. According to the National Conference of State Legislation,...