Credit card debt can be overwhelming, especially if you are behind on payments and are being contacted by collection agencies. Credit counseling agencies can help you provide options and recommendations, potentially saving you money and time. To make the most informed choice about whether credit card debt counseling may be a viable option for you, you need to know what credit counseling is and what benefits it may offer. Credit card debt...more
Credit cards may be useful for you to use to make purchases when you are a bit short on cash. However, constant usage of credit cards in order to purchase luxury items that you probably do not really need might cause your debt to pile up especially if you do not make any urgent effort to pay it all back. Once that happens and you find yourself more than nose deep in credit card debts, the first thing that may probably cross your mind is to get a...more
Hard working, decent people that have lost their income and that have fallen behind on payments are now also suffering the dozen or so phone calls a day from creditors and banks threatening to take their possessions or home away. That is why credit card debt payoff is in the minds of a lot of people. Before embarking on negotiations, debtors should try credit card debt consolidation or try paying off credit cards by availing a home equity loan since a non-revolving credit has a less negative impact on the credit score of the borrower. It may be a good idea to gather all your bills and credit card statements to figure out your income and spending habits and try to use that saved money for credit card debt payoff. The more you pay every month toward your credit card debt especially that charges a higher rate, the faster you will get out of it! It’s particularly important to avoid feeding your debt balance because as it grows, the harder it is to control and manage. So before you use your card, it may be important that you set some parameters. If you can’t afford to pay the whole balance off, try your best to pay more than the minimum in order to bring down your...more
Getting into debt is easy but getting out of it can really be a difficult task. This holds good for any kind of debt and includes credit card debt too. Credit card debt reduction needs planning and discipline in the way you spend money. If you feel stressed out carrying a little too much credit card debt, then don’t you worry because...more
When you are in desperate need of cash and you have certain bad factors like CCJ, it can be a great trouble for you. It is often the matter of embarrassment and also may let you face many loan rejections and disapprovals. Now, you do not have to worry as loans for people on CCJs let you fulfill your entire pending and unexpected financial crisis on...more
Approval for any kind of loans depends on whether banks or credit card companies consider an individual a good risk. There are several deciding factors which influence this. Before elaborating on what are the variables and how they play a role in approval of any credit, let’s see what a credit line is. Credit line is an arrangement in which the bank or creditor extends a specific amount of unsecured credit for a specified period of time. This article focuses on the variables that affect the credit line and also how your creditworthiness determines your credit line. Variables that affect an individual’s credit report are based on the following five factors which in turn influence his or her credit score and ultimately the credit line. Credit score is a numerical expression based on analysis of a credit file of an individual and indicates his or her financial stability. Payment history counts for almost 35% of your credit score. It measures your on-time payments of your bills and consistency in clearing your debts. Any gap between your payments or any bad credits will be indicated here. The kind of bills owed on, the total amount of bills with a balance unpaid, and...more
Credit cards as much convenience they offer, if not handled well may lead to unhealthy spending. Spending when unchecked for a while may lead to credit card debts. These debts may simply pile up with a good amount going towards interest while the...more
If you are living with a bad debit or low credit rating, you need to move and make a step forward to repair it so that companies and lenders will learn to trust you again. It would mean a lot if you will improve your credit ratings and make an action...more
With all the financial problems you've had lately it's probably become clear to you how much easier things would be for you if you had a higher credit rating. Luckily, there are lots of things you can do once you start looking into how to improve...more
If your credit rating has taken a hit due to a judgment, foreclosure, bankruptcy or charge-offs, you can rebuild it without professional help. Credit scores are snapshots of your current financial situation. They change over time based on the...more
Certainly one of the drawbacks of modern times is that people have a tendency to get so many things they do not really need. Numerous gadgets and services took place targeting a large market of consumers and this emergence of various inventions by...more
After years of complaints from consumers who howled about usurious interest rates, fines, manipulation and other unsavory business practices, Congress took action and passed legislation to protect consumers against the predatory lending...more