Finance Globe

Your credit report has a major influence on your life. The information in your credit report is used for everything from your home purchase to getting a new cell phone to car insurance and even employment. A 2013, FTC report showed that one in five consumers has a credit report error. Sometimes errors are enough to hurt your credit score which leads to higher pricing and even denied applications. A credit report dispute is the best...

This might be common knowledge to many, but there are people who have asked me what the differences are in debit cards and credit cards. Also if you want to teach your kids, below can be a reference guide to discuss the differences between a debit card and a credit card. Debit cards look and feel similar to credit cards. They are issued by major banks, such as Bank of America and Wells Fargo, and both...

When one of your accounts falls past due, your creditor may sell the account to a third-party debt collector. The debt collector then has the right to pursue you for payment. Of course, one of the ways debt collectors attempt to get you to pay is by calling you. These calls can be a nuisance, especially when you can’t afford to pay. Knowing how to handle debt collector calls can keep you in control of the...

Any time you fall behind on a payment, there’s a risk of your account going to a debt collector. This applies to credit cards, loans, cell phone payments, cable service and anything else that has a monthly payment. Many people incorrectly assume they no longer have to pay off an account because it’s been sent to a collection agency. However, you still owe a debt, even when it’s been sent to collections, and there are still...

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 you...

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? What...

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 this:...

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 Debt-to-Income...

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 for your...

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 mortgage?...