Improve your credit score, manage debt, and understand how credit works. From credit card usage to debt consolidation and credit repair tips, this section gives you tools to strengthen your financial foundation and regain control of your money.
Creditors and debt collectors may never stop trying to collect on old debts, not as long as there’s still an outstanding balance. You might be contacted about debts years after they’ve dropped from their credit report. As an incentive to get you to pay these old debts, some creditors and collectors offer to settle the … Read more
Your credit score is a three-digit number that essentially grades the information in your credit report. It’s the number creditors and lenders use to decide whether to approve your application and at what interest rate. Many people have wisely pulled their credit scores before applying for a loan only to find out the lender has … Read more
Your credit score is a mighty number that’s influenced by many of your financial decisions. Fortunately, not everything plays a factor in your credit score. Some negative actions may cost some extra money, but they won’t hurt your credit rating. Bouncing a check or overdrafting your checking account could result in an expensive overdraft fee. … Read more
Recovering from a bad credit score is tough. It can take several years of hard work to bring your credit score out of the pits and back to a place that makes you an attractive borrower. While your credit score is still in pristine condition, you can take steps to make sure it stays that … Read more
Banks and credit card issuers aren’t the only ones who use your credit to make a decision about you. Prospective employers also look at your credit report to decide whether to hire you for a job. You probably don’t want to hear that your credit history could be used against you in your employment search. … Read more
If you are overwhelmed with debt and feel that it’s impossible to ever pay it all back with your current income, you may be considering bankruptcy. There are two types of bankruptcy: Chapter 7, also known as straight bankruptcy or liquidation, is the type which clears the filer of all qualified debts. Chapter 7 filers … Read more
It’s tough if you’re at a point where you’re considering bankruptcy – it can be really disheartening to realize you’ve been swamped by your debts. And you probably already know that bankruptcy has serious long-term consequences to your credit history. But in certain situations, bankruptcy may be the best way to get that fresh start … Read more
Whether your poor credit score is caused by living beyond your means through overspending, or an unfortunate circumstance that made debt repayment difficult, your credit score can be repaired. But bad credit scores weren’t earned overnight. Your credit score may have gradually fallen over a period of months or years until it dropped to a … Read more
The new year is a time to start fresh for many, with resolutions to do things better than they were done in the past. But what if you start the new year with a constant reminder of yesteryear’s indulgences, such as a credit card balance that will take months or even years to knock down … Read more
Many financially distressed consumers have found themselves in a bad situation over the past couple of years. It’s the sign of the times. But consumers troubled with debt should know that the only way to get ahead of their finances is to spend less than they make, and pay their bills and credit accounts diligently. … Read more
