Finance Globe

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

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. This...
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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 is...
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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 stop...
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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 dispute them...
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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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Why You Should Check All Three of Your Credit Reports

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Did you know you have more than one credit report? In the United States there are three major credit bureaus – Equifax, Experian, and TransUnion. If a creditor, lender, or another business needs to review your credit to approve your application, they’re likely going to use your credit report from at least one of these credit bureaus. When you’re monitoring your credit, it’s important that you check all three of these credit reports, not just one...
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Frank
Since each credit bureau has its own calculation, it is very important to monitor them all. Its also very possible there may be so... Read More
Friday, 23 February 2018 14:22
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What to Know Before Applying for a Joint Loan

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Spouses, partners, or even relatives may, at some point, consider applying for a loan together. As with anything, there are pros and cons to applying for a loan with someone. It's important to think about the advantages and the disadvantages before you make a final decision. Applying together could help you qualify for a larger loan. Because you're applying jointly, the lender will consider both your incomes as means for repaying the loan. Two incomes means you're able...
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Frank
My wife and I have a joint loan, but she is the only person I would ever do this with. You have to 100% trust that other person be... Read More
Friday, 23 February 2018 14:21
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How to Avoid Resetting Old Debts

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As debts get older, they start to affect you less and less. The impact to your credit score isn’t as heavy and the likelihood of a lawsuit decreases, too. Eventually, old debts will drop off your credit report completely and they will no longer be legally enforceable. But, there are certain things you could do to reset the clock on a debt and give it more life. Unless you’re prepared to pay off an old debt,...
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Four Tips for Handling Debt Collection Accounts

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Dealing with debt collectors can be a nuisance, but if a collection really belongs to you, dealing with it is better in the long run. Here are some tips for handling debt collection accounts and dealing with debt collectors. Know when to communicate in writing. Phone conversations may be faster and more convenient, but there are a few times you should send a letter instead. If you need to dispute the debt, request proof, or ask...
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Frank
Be very careful of scammers, there are a ton in the industry.
Tuesday, 28 November 2017 08:59
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The Potential Impact of Identity Theft

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The recent Equifax data breach has many consumers questioning how worried they should be about identity theft. The answer is very worried. Think about all the credit-related transactions you’ve made - or plan to make - over the course of your life. Not only could a thief make these same transactions under your name, they could mess up your records so badly that you have a hard time making transactions of your own. Thieves can open...
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Benefits of Checking Your Credit Score Regularly

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Checking your credit score only once a year or when you’re about to apply for a major loan might not be enough. If you want to improve or even maintain your credit score, it’s better to check your credit score regularly. There are several benefits to checking your credit score often. You always know where your credit stands. Knowing your credit score is an essential part of your financial health. It’s just as important, for example,...
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