Credit Counseling is free service that helps consumers struggling with credit card debt determine their options. It includes a free budget and action plan for getting out debt.
Of the many things that can affect a consumer’s credit report and score, having one or more accounts showing as “charged off“ is among the most harmful. Consumers with charge offs on their credit report will have difficulty obtaining any new credit. And what credit they are able to acquire will come with exorbitant interest rates. Let’s tak...
There is no shortage of products and services devoted to helping consumers improve their credit. Among them is credit repair, a for-profit service that promises consumers an opportunity to dramatically improve their credit as a way to attain additional lending, such as a home mortgage, personal loan, or vehicle loan. What credit repair companies do...
When it comes to credit cards, making your payments on time every month is one of the most important things you can do to maintain good credit. But if you’re only making the minimum payment every month, you’re setting yourself up for years of payments. And it could potentially damage your credit in the long run — even if you always pay on tim...
For some consumers, declaring bankruptcy can provide relief from seemingly insurmountable debt. But the decision to declare bankruptcy should not be taken lightly. It is a legal process with specific rules and requirements. And in some cases it creates more financial challenges than it solves. Of course, if you are considering bankruptcy as an opti...
Credit repair is one of many financial services designed to help consumers improve their credit. The process involves hiring a company to dispute negative or incorrect entries on your credit report. It sounds simple, but it’s not always a straightforward process. Before choosing credit repair, there are some important details you should understan...
People who experience overwhelming financial hardship may consider declaring bankruptcy. It’s a viable option for many who have undergone a significant illness and the accompanying medical bills, long-term unemployment, or for whom credit card debt has become unmanageable. However, it’s not always the financial clean slate that people may be ex...
Struggling with credit card debt is frustrating enough. But when you add in a stressful life event such as job loss, serious illness or a natural disaster, trying to pay those bills every month can become overwhelming. That’s where a credit card hardship plan may be able to help. Sometimes called assistance programs or hardship cases, these progr...
Having a vehicle repossessed is a shocking occurrence. Suddenly, you’re left without transportation to get to work, school and run necessary errands. Although it’s an unfortunate situation, it’s not a hopeless one. If you act quickly, you may be able to get the vehicle back. Here are some steps to take if your vehicle is repossessed. ...
Credit reports and scores have an impact on many aspects of consumers’ financial lives, so it’s no surprise that there is a lot of misinformation surrounding them. Misunderstanding credit reports and scores and their impact can limit consumers and even lead to making less-than-ideal financial choices. Are you ready to let go of misinformation a...
We all make financial mistakes now and then. But missing a credit card payment is one you should try your best to avoid. Not only can it throw off your whole budget (you’ll have to pay twice as much or more next month), even one missed payment can have lasting negative effects on your credit. Here’s what happens and what to do if you miss a cre...
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