Category Archives: Credit Repair
How to Boost Your Credit Score While Living in a Rented Apartment
One of the unpleasant truths about personal finance is that the rich get richer every time they borrow money and every time they make an installment payment toward repaying it, while the rest of us diligently pay our bills every month, usually exhausting our entire paycheck in the process, while our credit score barely… Read More »
The Good Enough Mortgage Loan
When people set the intention to improve their credit scores, the goal is usually to qualify for a loan that is currently out of their reach. Home mortgage loans are the grand prize. Owning a house gives you financial stability and generational wealth in ways that other things you can buy on credit do… Read More »
Reaping the Benefits of Lower Cost Mortgages While Avoiding the Risks
Yes, it is possible to get a mortgage when your credit score is lower than 670. Some lenders will even consider your application if your credit score is as low as 620. Your options will be limited as far as the amount you can borrow, though. With less-than-optimal credit scores, the interest rates on… Read More »
Should You Pay Someone to Repair Your Credit or Settle Your Debt?
Advertisements for credit repair services and debt settlement companies know that you are in financial distress, and they know where to find you. You wouldn’t be watching television or listening to the radio unless you were so broke that you had no authority to choose your own background noise at work, or unless you… Read More »
What Are Credit Builder Loans?
People say that, if you owe zero debts and you have ten dollars in your pocket, you are rich. This is a motivating thought if you are trying to pay off your debts. Perhaps you are rich if you have ten dollars in your pocket and you own a house unencumbered by a mortgage… Read More »
Posh Strategies for Rebuilding Your Credit After a Bankruptcy Filing
In the early years of the previous decade, the 99 percent raised their voices in frustration about the financial struggles they faced because of policy decisions made by the wealthiest one percent of the world’s population. This led to some relief for consumers, but the Great Recession now seems like ancient history, and most… Read More »
Personal Loans: A Guide for the Credit Invisible
Getting your first loan is a challenge, but once you have been making payments on one loan, creditors will line up around the block to lend to you. If you are young, it is a good idea to start building your credit history, even by borrowing just a small amount, even as you try… Read More »
Credit Limit Increases: A Credit Score Quick Fix or Just More Debt
If you have a credit card, even if the credit limit is low, you are on your way to major creditworthiness. It is often possible to increase the credit limit on your credit card without opening a whole new account and getting a new card. Making at least the minimum payment toward your credit… Read More »
Chasing The Elusive Dream Of Creditworthiness
The credit reporting system currently is supposed to be fair. The Fair Credit Reporting Act of 1970 went into effect in order to prevent subjective decisions by lenders about which borrowers to approve for loans and how much to charge them to borrow money. Before the days of the Fair Credit Reporting Act, creditors… Read More »
How Are FICO Credit Scores Different From VantageScore?
Sometimes it seems like the credit reporting system is designed to make it difficult for people who do not have generational wealth to build their creditworthiness. Only certain types of financial obligations factor into consumers’ FICO credit scores, and these tend to be types of financial obligations only accessible to middle class and upper-class… Read More »