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Archive for the Debt Pay Off, Credit, & Collections Category

Credit Ratings 102

Common questions about credit ratings and closing accounts, credit card usage and boosting ratings Q:        I’m currently unemployed and unmarried. Do these facts impact my credit scores? A:        No. Neither of these facts affects your scores. Also, your scores are not affected by the number of dependents you have, retirement, debt-to-income ratio, number of years… Read More »

Credit Ratings 101

Cut through the misinformation about credit ratings Q:        What’s the difference between a credit report and a credit score? A:        A credit report contains information that creditors provide to a credit bureau; it details how you have handled your past and current financial obligations. A credit bureau collects data from creditors 24/7, but does not… Read More »

Problems with Debt & How to Get Out of It

Eliminating all non-mortgage debt should be one of your top financial goals A lot of debt spells disaster for most people’s financial plans, and it should be avoided at all costs. These are the top 8 reasons why having a lot of debt can be harmful:  Debt works against wealth building: High interest loan payments… Read More »

The Reasons and Costs of Over-Borrowing

The concept of debt management is especially important today as Americans are saving less and are further in debt than at any other time in our history. Why do people over-borrow and what is the ultimate cost? Reasons for Growing Debt Level. Americans owe more and are saving less than at any other time in modern history…. Read More »

A Basic Review of Debt

The concept of debt management is especially important today as Americans are saving less and are further in debt than at any other time in our history. Let us explore what debt is, when it is good and bad, how to get out from under its bondage, and what the consumer should be aware of.  Loans Defined–An… Read More »

How To Opt Out of Credit Card Offers

Does your mail box fill up with offers from credit card companies? Sometimes they will mail you checks and pre-approved credit cards. It is annoying, and its also a waste of time to go through them. You must also shred them to be sure no one steals your identity. Those of you with an ecology or stewardship… Read More »

Are the Educated Smarter With Finances & Debt?

A new study shows that prior to the current economic crisis, it was the highly educated people that were more inclined to have unmanageable levels of debt. The percentage of Americans with more than 40% of their income going to debt payments increased from under 15% in 1991 to 27% in 2008. You would think… Read More »

Debt Collector Fraud in the News

Over the last 4 years we have seem an epidemic of people that have been late on their monthly debt repayments. Many of these borrowers have never been late on payments before, however during the recession people often have to deal with multiple problems. It used to be common that someone just had to work… Read More »

When to Pay off Your Mortgage

There is quite a bit of miss-information when it comes to whether someone should pay-off their mortgage. On one hand it is wise to have as a goal to someday have a mortgage free home, especially as one enters the retirement years, and minimizing of cash flow and simplification are goals. Many people wonder if… Read More »

How to Break the Pay-Day Loan Trap

A lot of people are stuck in a cycle of using Pay-Day and Checking Cashing stores, and they don’t know how to get out of them. First let’s understand how they work to both help people then trap them in an ever ending cycle of debt and pain. Loan is given, equal to one or… Read More »