Category Archives: Credit Repair
All Work and No Credit Score Boost
It isn’t fair. When you are rich, you can borrow as much money as you want, but when you are working hard and struggling to pay your bills, no one will lend to you. Lack of credit history is stopping a lot of people from getting loans. This is understandable if you are young… Read More »
What To Know About Credit Cycling
Personal finance experts tell you that, if you cannot pay off your credit card balance in full each month, you should carry a balance of no more than ten percent of the credit limit over into the next month, but that is easier said than done. When you have used more than 30 percent… Read More »
Collections Debt and Your Credit Score
All overdue debt payments are stressful, but collections agencies are the most unpleasant creditors out there. When they contact you by mail, they print their notices in garish colors. They offer several options for lump sum payments and installment plans, but as often as not, they tell you nothing about how you incurred the… Read More »
How to Improve Your Credit Score When You Are Broke
Google is not known for its emotional intelligence. If you ask Google how to improve your credit score, it will tell you to open one credit card account and take out one non-revolving personal loan and never to use more than 30 percent of the available credit on your credit card. Of course, Google… Read More »
New Regulations for Buy Now Pay Later
The best thing about buy now pay later (BNPL) is that it is so easy to make purchases on credit, and, in theory, they are interest free. The worst thing is that it is so easy to buy things that you cannot afford, and therefore to fall behind on payments. Optimists might say that… Read More »
Credit Utilization and Your Credit Score
The credit score system is one of the most obvious ways in which the rich get richer. The more money you have, the more money you can borrow, but if you are not wealthy and you really need to borrow money, it is hard to find anyone to lend it to you. The amounts… Read More »
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 »