*Which Debts Should You Pay First to Improve Credit Scores?

It’s called prioritization! Whether you received a big tax refund, an inheritance, or a bonus, if you have recently come into a lump sum of money you may be ready to start chipping away at your debt. Of course, if you are like most people then even an unexpected influx of cash probably will not be enough to completely wipe out all the debts you owe. The question therefore becomes, which debts should you tackle first? Multiple Strategies It is...

*Why Does My Paid Off Credit Card Still Show a Balance On My Credit Reports?

Imagine the following scenario…you budget and work hard to pay off your credit card debt because you understand that doing so will save you money and will likely help to improve your credit scores. After months of dedication you finally reach your goal of zero credit card debt. However, when you check your credit reports the next day you are surprised to learn that your credit card account still shows an outstanding balance. Is this a mistake? Why is your...

*3 Strategies for Handling Excessive Credit Card Debt

Whether you built up that pile of credit card debt due to a job loss, an illness, a family emergency, or just plain overspending, you will need to come up with a plan to deal with that debt before it becomes out of control. Credit card debt can be very expensive, but you might not realize that outstanding credit card debt could be damaging your credit scores as well. Even if you make your monthly payments on time, your balances...

Why I Don’t Have a Credit Score?

Only people with zero credit have credit scores of zero, right? This is a common statement, which also happens to be incorrect. “…credit scores of zero…” Who’s that self-proclaimed financial guru who likes to tell everyone that his FICO score is, “zero?” I don’t remember his name, but here’s why he’s wrong. First, there is no such thing in FICO or VantageScore’s credit scoring models as a numeric credit score of zero. FICO’s credit scoring models range from 300 – 850....

*Credit Repair and Debt Consolidation – How They Work Hand and Hand to Restore Your Credit Score

Credit repair doesn’t just involve one solution, but a suite of solutions that work together to cause a deflated credit score to increase. One of the most effective credit repair tools is debt consolidation. The term consolidation refers to the merging of two or more credit accounts to create one account. A consumer can use several methods to achieve this, and they can all be beneficial in raising the person’s score. The following is some information about repair and consolidation...

*How Often Should You Be Checking Your Credit Reports?

“How often should I be checking my credit reports?” We get that question all the time. In truth, there is no one correct answer to this question, though some recommendations are certainly going to be better than others. Let’s explore the different options so that you can determine the right course of action for you.   Never – Worst Option Credit reports can impact everything from your ability to purchase or rent a place to live, to your ability to qualify...

5 Things a Consumer Better Know About Bad Credit Car Loans

A car is often viewed as a necessity for most people. Reliable transportation is necessary in order to maintain a decent job. Without a job, it is nearly impossible to pay bills and establish credit. Unfortunately, for people with bad credit, it can sometimes be difficult to obtain a loan to buy a car at an affordable rate. However, there are bad credit car loans available for those who need them. Before seeking out a loan, Mark has 5 tips...

*IF I FILE BANKRUPTCY, I WILL NOT HAVE TO PAY BACK MY DEBT AND MY CREDIT REPORT WILL BE WIPED CLEAN, CORRECT?

This is one of the biggest myths and misunderstandings with credit.  When you file bankruptcy you are telling the court that you do not have enough money to pay your bills.  Since you do not have enough money to pay your bills, you will have to include EVERYTHING in the bankruptcy and in return, you can wipe away your debt and stop the collection calls.  If you file a Chapter 7, then your debt is wiped away.  If you file...

REPAIR YOUR CREDIT WITH YOUR TAX REFUND

Americans love to spend their tax refund on new cars or dream vacations. If your credit is in trouble, then this year you should consider using that tax refund to get your credit back in shape. Improving your credit score will help you get a lower interest rate on that car loan, and it can also help you get the credit you need for your dream vacation. A repaired credit score will pay for itself several times over, and all...

*Does Your Credit Speak For Itself?

Armed with an impressive resume and knowledge of the company you are interviewing for, you confidently approach the interviewer and begin to craft the inspiring ‘first impression’ you envisioned last night as you went to bed. You may feel prepared for the interview and qualified for the new job, but there is a strong possibility that the interviewer has already formed an opinion about you – through information contained in your credit report. Increasing numbers of companies are requesting credit...

*10 Things You Should Know About Working With Real Estate Agents

One of my buyers is a brilliant neurosurgeon, top of her class in medical school, but she doesn’t have a clue about etiquette rules with real estate agents. Nor does she understand why some listing agents have yelled at her when she calls them at random with questions. In her mind, she hasn’t done anything wrong. She is only trying to find out information about a house for sale. Real estate agents love working with people, but there are always clients who may...

*Does A Student Loan Deferment Or Forbearance Impact Your Credit?

There’s no denying that getting a college degree is one of the best things you can do to pursue a prosperous future, but this professional head start can come at a steep cost. Over the past few years, student loan debt for the country has topped $1 trillion,leaving over 40 million Americans in a serious financial predicament. Unfortunately, accompanying the ever-increasing mountain of student debt is the avalanche of loan delinquency. Recent graduates accustomed to the college lifestyle, often without the...