Consumers write to the credit bureaus for all manner of help. But unfortunately, many of these efforts are misguided. Sometimes people want assistance improving their credit scores. Other times, they may ask the credit bureaus about why an account is showing up negative – as if the credit bureau put that information on there, not […]
How to Dispute Mistakes In Your Credit Report Read More »
When you see erroneous payment or status information in your credit file, you should take up that dispute with your creditor, before contacting the credit bureaus. Examples of the types of erroneous information you should dispute with a creditor include: Wrongfully reported late payments Maybe a creditor reported you as being 30 days past due,
How to Remove Erroneous Information From Your Credit Report Read More »
Consumer groups estimate that 70% of all credit reports have mistakes in them. That’s an awful lot of misinformation – and it could be costing you money. If you have errors in your credit file and you’re in the market for a loan, you could wind up paying a lot more in interest than you
How Credit Report Mistakes Happen Read More »
Many people don’t realize that doctors are willing to negotiate costs with patients who don’t have healthcare coverage. Consumers can also use the strategies below if they have outstanding medical debts, or are planning to have a medical procedure, but they know that specific procedure won’t be covered by insurance. Follow the following five steps to lower your medical bills:
How Can I Pay Off My Medical Bills? Read More »
The foreclosure crisis is wreaking havoc on millions of Americans. Between 2007 and 2009, there were more than 9 million foreclosure filings in the United States, according to Irvine-Calif.-based RealtyTrac, an online marketer of foreclosed homes. RealtyTrac’s foreclosure statistics count all types of foreclosure letters, including default notices, auction notices and bank repossessions. Unfortunately the
The Foreclosure Process Explained Read More »
If you’ve tried negotiating with your mortgage lender, have adjusted your budget, and done everything in your power to pay your house note, but have still come up short – it may be time to seek government assistance. Part of President Barack Obama’s $75 billion mortgage rescue plan is aimed at helping people avoid foreclosure
Making Home Affordable Explained Read More »
If you’re in over your head with an expensive car note, it’s time to think about getting from underneath that burden. Here are some options for dealing with overdue car payments or other issues when you’re struggling to pay for your vehicle: Get a Payment Extension If your financial difficulties are temporary, or if you
What Should I Do If I Can’t Afford My Car? Read More »
If we’re honest with ourselves, many of us will admit that so much of what we spend money on – and why we spend money – is tied to our emotional state. Sometimes we spend money completely on a whim because something struck us a being a “must have” item in that moment. Later, that
I’m a Shopaholic. How Can I Stop Over-Spending? Read More »
If you’ve requested your credit reports recently – or only peeked at them after a bank or another lender pulled your credit files – you may be wondering about some cryptic-looking codes and abbreviations you saw. The three main credit bureaus — Equifax, Experian and TransUnion — each have their own way of describing your
What Do All Those Strange Codes In My Credit Report Mean? Read More »
FICO credit scores range from 300 to 850 points. Banks and other lenders now want to see 700 credit scores and higher, which is all the more reason to strive for perfect credit. You can certainly still obtain credit and loans even if your credit scores fall below 700. But you should know that it’s
What Is Considered a Good Credit Score? Read More »
If you get a FICO credit score, or any other credit score, be sure to read the analysis or summary that comes with your report, explaining why your credit score is a certain number. Watch out for these types of negative statements: Amounts owed on revolving accounts is too high Amount past due on accounts
What Are Some Reasons That My Credit Score is So Low? Read More »
For a single loan, payday lenders routinely charge interest rates of about 400% on an annualized basis. That’s a ridiculously high price to pay for “credit.” So why would someone willingly go to a payday lender when they’re short on cash, when they could just use a credit card to pay for something, or even
The Dangers of Getting Payday Loans Read More »
There are roughly 50 million adults in the United States who operate outside the credit mainstream*. They have no checking account and no credit file whatsoever. Many never had a credit card; never took out a mortgage; never had a student loan; never paid a car note. Nothing. Granted, a lot of these individuals are
How Many Americans Have No Credit or No Checking Account? Read More »
From a credit standpoint, the type of debt you’re carrying matters tremendously when it comes to your credit score and your overall credit rating. What precisely counts as “bad” debt? Nearly 100% of the time, it’s credit card debt. Yes, if the balances on your Visa, MasterCard, American Express or Discover cards have gotten out
Does the Type of Debt I Have Impact My Credit Rating? Read More »
Debt is such a huge problem in America. We’re up to our eyeballs in debt of all types: mortgage loans, credit cards, student loans, automobile loans. You name it – we’ve got it. The average size mortgage in the U.S. is about $200,000 – and this number is smaller than it was due to the
How Much Consumer Debt Do Americans Have? Read More »
