It's understandable why you're in a panic and thinking of taking desperate measures. After all, nobody wants to be in debt. No one wants to be in a bad credit status. The very idea of owning thousands of dollars to your creditors is indeed discouraging. However, no matter how bad the situation gets for you, there is no need to resort to any of these four credit mistakes.1. File for BankruptcyThere are almost no advantages to filing for...more
Even if you are not planning a major purchase, such as a house or a car, in the near future, your credit score is still important. Many businesses and service providers are relying more and more on good credit scores before offering goods and services. You may find yourself in need, without anywhere to turn.You must have good credit to find a place to live. You may not be interested in buying a home, but landlords will check credit scores,...more
Where does the problem with credit start? Many believe that it is a generational problem dating back to the baby-boomer era. In the old days, when our fathers still knew their fathers and grandfathers, we as a country were recovering from The Great Depression. (Imagine a recession like we have going now but ten times as bad) When the Depression was lifted, the country seemed to learn the concept of credit; it wasn't a free license to spend. Credit was something valuable, a note or a promise to pay within the month.Nowadays, we are bombarded with TV advertisements and Internet ads, encouraging us to spend. In the 1950s and 1960s we were not exposed to the shamelessness of today's modern advertising world. Today, children are being taunted to spend money with their credit card, as if these cards are free gift certificates. Make no mistake about it—the spending problems of the average consumer make up an important part of our nation's troubled economy.Whether you are in serious debt or have a perfect credit score that you cherish, you should strongly consider ordering credit repair software. You also have the option of subscribing to a credit-reporting agency that...more
Fixing your credit will allow you to enjoy a better quality of life—one with the right to buy, own and spend to your heart's content. Having good credit means having a solid reputation all around the country. There are various software programs and credit reporting agencies that can help you on your quest to repair your credit. The ability...more
With a severely damaged credit record, not every lender is going to consider you for a loan. This is due to the high risks you carry for them. In such circumstance, you can scan the loan marketplace on Internet or elsewhere for unsecured loans bad credit. Since such lenders are willing to take a sympathetic view of your circumstances, your chances...more
There are two different types of inquiries that may appear on your credit score. One is the soft inquiry, which is a look at your credit report for any other reason besides a purchase. This could be your own inquiry into your credit score, a potential employer's inquiry, or for pre-approval purposes. A hard inquiry is a credit score check for the purposes of making a purchase. These hard inquiries will appear on your credit score, and a rejection can adversely affect your report.All inquiries are recorded on your credit report, even the inquiries that you make for yourself. If you have several hard inquiries on your credit report, then potential lenders may believe that you are attempting to spend outside of your current means. This does not mean that you cannot shop around for a loan. Though all inquiries show up on the credit report, those that are similar and take place around the same time will end up grouped together as one hard inquiry.Another benefit of having each inquiry reported is that you can receive early warning if someone attempts to apply for credit with your name. If you regularly receive credit reports, you can easily spot any unusual activity. ...more
It may surprise you just how many things can affect your credit score. Your credit report is how lenders and potential employers can assess your financial responsibility and the risks that may be involved in trusting you with fiscal tasks. You...more
How can you better manage your credit even in an age of recession and massive inflation? We're going to give you a few tips and then one revelation that's sure to help you build yourself up to a healthy 750 rating. For starters, make sure that...more
There are so many different ways that you can make mistakes on your credit report. In many cases, the mistake might not even be one that you made. If you are not diligent in keeping up with your credit history, then your credit score and...more
Even if you are trying to clean up your credit score, there are several mistakes that you can easily make. Don't get trapped by bad advice, because you could end up hurting your credit score more than helping it. Even if something seems like a...more
Bad credit can seriously affect your life, from an inability to make small purchases to losing a coveted job prospect. Many business check credit reports for insight on your responsibility with financial matters, and a bad score will tell them...more
If you have ever received your credit report, then you know that it can be difficult to make heads or tails of it. There are a few easy ways to understand exactly what you are looking at, but there are a few things that you should remember. First...more