Your score indicates your overall financial health and tells potential lenders whether or not you have been responsible with your financial choices in the past. It also assesses your current level of debt. The way your score is calibrated may vary slightly by company; however, in general, your score will range between 300-850 and anything above 700 is considered to be a very good score. Continue reading
In the modern marketplace it seems that everywhere you look there is one group or another offering no-risk routes to debt reduction. Self-labeled debt relief companies abound, offering multiple strategies “guaranteed” to reduce payments to creditors and to lower your overall debt. While some advocate consolidating your debt as the ideal method of addressing financial troubles, others encourage you to employ their services and pursue debt settlement. Others still may promise that their services will help you lower your interest rates and make it easier to pacify your creditors. Don’t be fooled; while forms of debt relief promoted by these companies may vary by name but in substance they all share one thing: unreliability. Continue reading
I recently received a letter from Time Warner Cable in which the cable monopoly advised that “We’re pleased to extend you additional savings.” What is the value of those savings? Turns out, my bill is increasing by $15.99. Continue reading
The federal Fair Credit Reporting Act (FCRA) was put in place to ensure safety of consumer information by promoting the accuracy, fairness, and privacy of consumer information provided by consumer reporting agencies. These agencies include credit bureaus and other agencies that report information about medicals records and rental history. Whichever the reporting agency, this act guarantees the consumer the following rights to ensure that the information is fairly reported. This brief summary of your rights under this act, and the information listed above has been taken from the Federal Trade and Commission official website. For additional information please visit the Federal Trade Commission website. Continue reading
If you have any suspicion of an outsider tampering with your credit, the first thing you can do is activate fraud alert. It should be treated as a preliminary step in response to fraudulent activity; other steps include credit freeze which is a stronger option that freezes credit access. Fraud alert is a flag that is attached to your credit report by credit bureaus. It warns anyone who checks your credit report that you were or may have been a victim of identity theft. In the event anyone wishes to extend you credit, they are encouraged but not obligated by law to verify the transaction with you via a phone call. Continue reading
For years small businesses and individual phone customers have been complaining of phone bill cramming, or phone companies’ addition of unauthorized charges to their phone bills. Unfortunately, despite the illegality of this action, and the hefty fines it can carry for guilty companies, it is still occurring. For this reason, you will want to check your bills carefully to make sure you are not falling victim to cramming efforts. Continue reading
Are you deep in debts and being contacted by different agencies trying to get you to repay your debts? If you are, then you could have a debt recovery agency contacting you on behalf of the company, whether it is for an unpaid credit card bill, medical expenses, student loans or any other debt you may have accrued. Continue reading
Let’s envision the nightmare scenario: your ID has been stolen, and the thieves are opening credit card accounts as fast as the banks will let them. What happens? Should you just file a police report and accept the fallout? Continue reading
No doubt you’ve heard about the recent flooding in Nashville, and you’ve likely heard stories of homeowners without flood insurance. And before Nashville, there were major floods in New Jersey, New England, New Orleans… Continue reading
Ever hear of a deal that sounds too good to be true? That is probably because it is. Many people turn to debt settlement to solve credit and debt problems. They believe this is the answer to all of their questions, but be wary of which solution you choose. Continue reading
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