There are all kinds of strategies when it comes to eliminating credit card debt – entire books have even been written on the subject. But anyone who has tried to do it knows it’s much easier said than done. After all, that’s why so many people struggle with huge amounts of credit card debt. The […]
Creating a Debt Payment Priority When You Have Credit Problems
If you have too much debt, and are already experiencing credit problems, you will need to create a debt payment priority. That will help you determine which of several credit obligations needs to be paid first, and which you may be forced to delay if you don’t have the money to pay. And just as […]
Why You Must Repair Your Credit Before Buying a Home
The time to repair your credit for buying a home is well before you even apply for a mortgage. This is especially true if your credit report reveals multiple credit problems. It’s not always possible to get credit issues fixed quickly, and if you have more than a few, the task is that much more […]
Your Debt-to-Income Ratio and Its Effect on Your Credit
Debt-to-income ratio – commonly known as “DTI” in the lending universe – is a major lending criteria any time you apply for a loan. And even if you are not applying for a loan, it is an important measure of how well you are doing in managing your credit, and whether or not you’ve taken […]
Are You the Best Person to Fix Your Credit Problems?
There are books and blogs about how to fix your own credit problems. And while there’s some merit to the information they provide, the one issue that they dance away from is the fact that most people are not qualified to fix their own credit problems. This is usually the result of a complex mix […]
Why Using Payday Loans Signals Big Trouble
Payday loans are loans for people who can’t get other types of loans. There are several reasons why that happens, but if you are using payday loans on a regular basis it’s time to get help. Because they are so expensive, payday loans put the borrower into a vicious cycle that is not easy to […]
The Fair Debt Collection Practices Act – Know Your Rights
It’s easy to feel overwhelmed and even more than a bit intimidated when you have credit troubles. Creditors, and especially collection agencies, have a way of making threats – both actual and implied – that can make you feel that they have the force of law behind them. But creditors can’t do whatever they want […]
Serial Debt Consolidation: The Road to Financial Ruin
People often try to deal with mounting debt and credit problems by doing a debt consolidation. In theory, it’s a sound idea. But in reality, one debt consolidation leads to another, and then to another. It’s called serial debt consolidation, and it’s more often the road to financial ruin then to credit salvation. How does […]
How To Write A Credit Dispute Letter
If you’ve ever discovered there is erroneous credit information in your records, either by getting a letter from a creditor or, more commonly, in a line item on your credit report, then you know how disturbing it can be. A single credit blemish can have a major negative impact on your credit score. Your first […]
7 Ways to Negotiate With Creditors
Negotiating with creditors with whom you still enjoy a good standing is an important skill – and very different from negotiating with debt collectors. The idea is to avoid your credit problems reaching the point where debt collectors and credit repair are even part of your life. So how can you negotiate with creditors in […]
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