Archive for the 'Credit' Category

Don’t Count on Credit Cards to Help You Stop Foreclosure

One of the greatest mistakes homeowners can make when they get into a financial bind is relying on credit cards or other short-term loans to see them through the difficulty. They think that they can borrow money at high rates of interest and then pay it back once their income has recovered. Unfortunately, this is […]

Combine a Loan Modification and Debt Settlement to Lower Bills

As credit card companies continue to increase rates and violate their customers, debt settlement or debt management is becoming more popular. Debt settlement is the procedure of eliminating a portion of the debt and entering into a repayment plan that will get you out of debt in just a matter of months or years. Most […]

Steps Involved In Getting A New Mortgage

Mortgaging your house might sound a bit scary and frustrating, but it might be the answer to your debt problems. Mortgages are probably the best secured loans, as real estate values are generally increasing and lenders still consider it as strong collateral. Real estate is usually one of the most expensive items a family will […]

Collection Agencies, Violations of the FDCPA, and Penalties

The Fair Debt Collection Practices Act (FDCPA) was originally designed to protect debtors against abusive actions taken by collection agencies when they are pursuing a debt. There are numerous violations that may cause penalties against the debt collector to be paid to the borrowers or applied to the balance of the account. Two of the […]

Hopelessly Corrupted — Credit Card Companies, Debt Collectors, and Mandatory Arbitration

One tool of the credit card companies has always been to force consumers into unfair arbitration proceedings, where very little is done to help strapped borrowers get back on top of debts. While most people who were involved in such negotiations had a feeling they horribly biased against the consumers, the full extent of the […]

How Credit Card Fraudsters Use Small Charges to Discourage Disputes

Identity theft is everywhere these days. No company or individual who has ever used a credit card online is safe from criminal hackers and social engineering thieves. And although large corporations may have the most information that identity thieves can target, smaller companies can still yield hundreds or thousands of credit card numbers.
One of the […]

The Impact Foreclosure Can Have On Your Credit Score

If you are facing foreclosure you may be concerned about the impact it has on your credit score.  It is a question that I hear a lot, when some is concerned with foreclosure.  First one must understand the method of calculating a credit score is proprietary information.  Your credit score number is updated when a […]

Never Too Late to Repair Your Credit Part II

If you have missed mortgage payments or are facing foreclosure, it is not too late to consolidate your bills and get back on track.  It might seem hard to imagine getting out from under the burden of debt that has accumulated, but there is always an option that can help repair your credit. 
There are […]

Credit Repair - It’s Never Too Late - Part I

Many subprime lenders have provided homeowners with complex non-traditional mortgage agreements that allowed them to get into homes that were otherwise too expensive. These mortgage agreements typically have lower payments during the first few years that increase–sometimes dramatically–after the introductory period. The homeowner is then faced with a monthly payment that is often much higher […]

Tips to Pay Your Bills on Time During the Recession

Sometimes it starts with a simple mistake. The bill from the phone company gets misplaced one month. Maybe the electric bill fails to show up, lost in the mail for the next decade. But next month, the bill is more than twice the amount expected, and the company has added expensive late fees. The representative […]

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