Newest Answers

Should You Pay an Old Debt?

October 21st, 2016 | Author:

[Y]ou’ve had financial problems in the past that resulted in old accounts being charged off and appearing on your credit report. Perhaps you’ve worked hard to pay some of them off while others have slipped by until they aged off. Don’t assume you’ll never hear from them again even if they are no longer on...Continue Reading »

A Neat Trick to Improve Your Credit Score

October 20th, 2016 | Author:

[Y]our credit cards have a major impact on your credit score for good or for bad. They impact it in several ways, which is why you want to use them to help you improve your credit score. How Credit Cards Affect Your Credit Score Just being able to get a credit card and have an...Continue Reading »

How to Get Approved for a Mortgage with a Lower Credit Score

October 17th, 2016 | Author:

[G]etting approved for a mortgage when you don’t have excellent credit can be tough. However, you can get that approval and start shopping for a house even if your credit score isn’t the best. While lenders will have a certain cut-off point for a low credit score, you can improve your chances of approval by...Continue Reading »

When You Can’t Pay Your Credit Cards

October 12th, 2016 | Author:

[P]erhaps you’ve had some unexpected expenses that wiped out your salary or you’ve had your hours cut at work. Whatever the reason, you don’t have enough money for all of your bills and the credit card seems the easiest bill to cut out. The Danger of Not Paying If you are unable to pay your...Continue Reading »

Debt Collection for Your Tax Bill from the IRS

October 10th, 2016 | Author:

[T]he Internal Revenue Service is outsourcing its overdue tax debts to private collection agencies. A law was passed in 2015 allowing the IRS to contract with private debt collection agencies. This process will begin in the spring of 2017. The IRS will partner with Pioneer, Performant, CBE Group and Conserve to collect on any outstanding...Continue Reading »

Is a Charge Card the Same as a Credit Card?

October 5th, 2016 | Author:

[Y]ou may have heard about charge cards but not really understand how they work. While you may think of them in the same way as a credit card, there are some fundamental differences. No Balance Allowed With a credit card, you can make a minimum monthly payment and carry the rest as a balance. You...Continue Reading »

How Borrowing Money Impacts Your Credit Score

October 3rd, 2016 | Author:

[W]hile your payment history has the greatest impact on your credit score, how much debt you have also affects it. It’s important to know this information before you borrow money. Debt Utilization One of the factors for your credit score is how much of a balance you have compared to your credit limit and your...Continue Reading »

Can You Cheat Your Credit Score and Should You?

September 30th, 2016 | Author:

[I]f you’ve been plagued by a low credit score because of late payments, charge-offs and collections, you may think you’ll never be able to get a good credit rating. You may know that it can take 7 to 10 years for this negative information to come off your credit report, but you need it to...Continue Reading »

Can Two or More Credit Cards Build Credit Faster?

September 28th, 2016 | Author:

[M]ost people know that getting a credit card can help you build credit. The next question is whether two cards can do twice the work. It follows the idea that if some is good, more is better. However, in the case of credit cards and your credit rating, more isn’t always better. When More is...Continue Reading »

How Checking Your Credit Helps It Improve

September 26th, 2016 | Author:

[N]o, there’s no magic involved in checking your credit report. Your credit score won’t mysteriously improve just because you checked to see where it was compared to last time. But studies show that people who check their credit report pay more attention to all credit issues and work harder to improve their scores. Motivation When...Continue Reading »

How Long It Really Takes to Fix Your Credit Score

September 23rd, 2016 | Author:

[A] popular question among people trying to raise their credit score is “How long will it take to improve my credit score?” They want to hear the magic words because they’ve read the promises that say your credit score can improve in 30 days. Unfortunately, that promise is like waving a magic wand and expecting...Continue Reading »