6 Ways to Enjoy the Holidays When You’re Broke or Unemployed
If you’re struggling financially or find yourself out of a job, it might seem difficult to muster up some holiday cheer. But a lack of money doesn’t mean you can’t have a Merry Christmas and a Happy New Year. Here are some tips to help you survive – and even thrive – during the holidays, […]
Top 10 Financial New Year’s Resolutions from The Money Coach
If you’re ready to improve your economic situation in 2011, here are my recommendations for the Top 10 financial New Year’s resolutions that will help you in the coming year: 1. Eliminate credit card debt. Tired of being in debt and living paycheck to paycheck? Then it’s time to knock out those credit card bills […]
Can a Medical Collection Be Removed From My Credit Report?
Question: Can I remove a medical collections from our credit report? It has been paid and it is our account. I didn’t know that it had been reported. I did call the collection agency and was told by law it could not be removed unless there was a mistake. I was told I could dispute […]
What’s the Best Way to Get Negative Information Removed From My Credit Report
Question: One of my subscribers had a question. She asked, “What’s the best way to have negative information removed from my credit report?” Answer: Negative information can legally stay on your credit report for seven years. For some negative information, such as a bankruptcy, it can be as long as 10 years. The subscriber didn’t […]
Here are 5 Easy and Creative Ways to Save More Money
During my interview on ABC News NOW, I gave 5 easy to use tips to help you save more money.
Save on Your Car: Many people don’t realize that you can refinance your car loan just as you can refinance a mortgage. A car refinancing is faster, simpler to do and costs virtually nothing. Average savings: $1300 over the life of the loan.
Differences In Equifax, Experian and TransUnion Credit Reports
If you’ve ever pulled your credit files from Experian, Equifax and TransUnion – each of the three major credit bureaus- and tried to compare them, you know that certain information in your credit records likely to be different. But did you also realize that the manner in which the credit bureaus present your credit data […]
Fact Versus Fiction About Credit Scores
FICTION: If I check my credit report often, all those “inquiries” will lower my credit score.
5 Tips if You’re Facing Court Action from a Debt Collector
Creditors can sell your debt. When your debt is sold to collectors, some might use the threat of court action to try to intimidate you in order to get you to pay up.
Technically, it is illegal for collectors or creditors to threaten court action if they do not intend to carry through with it. Taking you to court is time consuming and expensive for them, and there is no guarantee it will result in the outcome the creditor wants. So typically, a court action is a tactic to get you to pay up, or to obtain a default judgment against you if you don’t respond to a summons and complaint.
Will a $50 Collection Account Hurt Your Credit Score?
When it comes to credit scores, even small debts can raise big questions. One common concern is whether a $50 collection account will damage your credit. Thanks to updates in scoring models like FICO 08, there’s good news for consumers, but also a few critical caveats. FICO 08 and Small Collection Accounts FICO 08, a […]
How Debt Can Ruin Your Relationship
Forget about lying, sexual incompatibility or infidelity. The real threat to your relationship may be your (or your partner’s) tendency to splurge on things that are outside your budget. As I often explain on Facebook, Twitter and in my financial seminars, the consequences of rampant over-spending — especially when using credit — are enormous. Not only are credit card delinquencies, bankruptcies and foreclosures on the rise, debt is even a huge factor in families being split apart.
FBI Issues New Warning on Lottery and Sweepstakes Scams
Here is the latest scam alert posted on the FBI.gov website and sent to anyone who subscribes to their new scams and warnings email list: Fraudulent Notification Deceives Consumers Out of Thousands of Dollars The IC3 continues to receive reports of letters and e-mails being distributed pursuant to prize sweepstakes or lottery schemes. These schemes […]
How Did Lynnette Khalfani-Cox Erase $100,000 in Debt in 3 Years?
In my book, Zero Debt, I explain how I got into debt (mainly via overspending), and also what it took to get me out of debt. To pay off my credit card bills, I used the exact same strategies I outlined in my book — getting a budget together, cutting back on frivolous spending (like vacations […]
Is Having Perfect Credit Just About Having a High FICO Score?
If you have never seen your credit reports, or been told your credit scores, you may have only a rough idea of your standing. If so, that’s a big mistake. I don’t want you to have hazy or vague knowledge about such a very important topic. I want you to be crystal-clear about your credit rating and know what specific actions you can take to maximize and even profit from it.
Should I Pay Off My Debt Or Use My Savings To Buy A Second Home?
A woman needs advice on wheter to pay off her debt or use her money to buy a second home. Click now to hear Lynnette’s advice.
Can You Bump Hard Inquiries Off Your Credit Report By Monitoring With Soft Inquiries?
Soft inquiries – even lots of them – will not bump off or remove hard inquiries on your credit reports. This is because all inquiries stay on your credit report for two years, and hard inquiries count against you, for the purposes of calculating your FICO scores, for one year. What Is the Difference Between […]