Managing Credit and Debt Archive

With many major financial institutions facing major losses, they are trying to cut corners and raise revenue with in every way that they can, including with credit cards. Many consumers are getting notices that their …

When expenses are tight among cashing checks, payday loans and credit card payments, it may be difficult to figure out what checks cleared and which ones didn’t. The U.S. Federal Deposit Insurance Corporation (FDIC) suggests …

Maintaining a good credit score is vital if you ever use credit, work as an employee, or have insurance. It is your key to lower mortgage and loan interest rates. What is considered a good …

When considering consumer debt there are two principle types. These are secured debt and unsecured debt. Knowing the difference between the two enables consumers to better manage their debt repayment. This is because each type …

The good news is that often when you are struggling with debt and falling behind in your payments, you can work out a deal with your creditors whereby in exchange for your paying off a …

How to calculate your debt to income ratio Your debt to income ratio is a personal finance measure that lenders use to determine how likely they are to receive a payment from a borrower. It …

People file for bankruptcy for different reasons. For some it is a result of poor financial management over a period of time, while for others it is the result of something totally out of their …

The process of consolidating multiple credit cards can be a fairly tedious and lengthy one. It is more than likely, however, that the benefits of doing so will far outweigh any inconvenience in the medium …

Ten tips to finding the right credit card, sounds easy but wait there are some things to consider. I can help you make with the right move based on what I have learned over the …

Getting out of debt can be a challenge. There are ways to get out of debt and stay debt free. If you want to put yourself in a better financial situation then you should avoid …

Trying to understand a credit report can be a monumental task, if you’re not familiar with the terms and numbers used to rate your credit-worthiness. Fortunately, you don’t need to have an MBA to do …

Getting out of credit card debt is a little like trying to escape quicksand. One wrong move and you sink deeper. Once your debt reaches a certain point, the effects of compounding interest rates and …

Keeping a good credit score is important for a number of reasons. One of the main reasons is that your name will not be ‘blacklisted’. Other reasons are that you will be eligible for higher …

A bankruptcy will stay on your credit report for ten years, but there are things in which you can do in order to increase your credit score from the very beginning. Bankruptcy is not the …

Do you want to get out of debt but are unable to choose whether consolidation or settlement can solve your debt problems? Before choosing between consolidation and settlement, it is quite necessary that you have …

We all know that financial institutions are increasingly risk adverse, we only have to look at the recent government subsidy of two major loan guarantors Fannie Mae and Freddie Mac to know that times are …

Everyone can benefit from having a good credit score, as it affects far more than just your ability to obtain a piece of plastic. Your credit score will not only determine if a lender extends …

Whether repairing bad credit, or establishing new credit, you can turn lemons into lemonade. While it can be frustrating trying to get credit, without credit, a few simply steps will get you headed in the …

If you find yourself being prone to taking a lot of small debts in the form of personal loans and excessive use of your credit card you might find yourself unable to pay back the …

Finding a good account is very important. If you do not have a good account, you will always wonder about your tax status. A good accountant is someone that you can get a hold of …

Is credit really the best thing? I think we have all been in the position that the credit card offers are coming in everyday. No interest, balance transfers, etc. etc. How many buy into this …

A credit union is a non-profit financial institution that is owned by, and provides banking services to, its members.  When you have money on deposit at a credit union, that constitutes your ownership share of …

A credit letter is written by an individual or company to a credit reporting body to correct an error, dispute a record, or dilate upon a claim, in the credit report sent to the individual …

While on vacation, you make a quick grocery store run for some snacks. While checking out, the clerk asks you for their store savings card, and you tell them, “I don’t have one, we don’t usually …

The downturn in the housing market dates back to 2006 at the peak of the real estate bubble. Since then the price of most houses have tumbled from their lofty highs. During the great recession …

Debt can be accumulated on credit cards, personal loans, mortgages, and overdrafts. These borrowing options aren’t necessarily a bad thing to have. A mortgage helps people to own their own home, which can then also …

A credit card has taken the status of a necessity in today’s world. Still if you go around and generally ask people whether they would prefer hard cash in lieu of a card or rather …

A credit report can be intimidating if you do not know at what you are looking. Many different symbols, words, and numbers appear on your credit report. If you do not know how to read …

First bankruptcies are understandable, second and third bankruptcies are in excuseable. With the new bankruptcy laws that took affect earlier this year (2009) I don’t know if you can even do a total discharge anymore …

Tough economic times. We are there. I hear it everywhere I go. People are worried and scrambling to stay afloat. Between higher energy prices and retail prices People have less extra money to spend. These …