Blog Category: Credit

38% of households carry some credit card debt. The average amount of credit card debt is $5,700. However, those that carry balances without paying them off owe over $16,000. These numbers haven’t changed much over the last 5 years, but the locations of highest and lowest balances have. Take a look at credit card debt  … Read more

The thought of checking your credit can be scary. If you have bad credit you may avoid checking it altogether. This is never a good strategy. Good credit is possible. In order to improve your score, follow these simple tips for better credit. Simple Tips For Better Credit Check Your  Report Often There are several  … Read more

When it comes to credit scores most people ignore them until a problem arises. Credit scores and your profile speak volumes to lenders about your borrowing risk, so it is important to keep a close eye on your standing. How well do you know your credit? Whether you pay for a credit monitoring service to  … Read more

A big question that many individuals ask is: what happens to my credit card after filing bankruptcy? Can I keep a credit card or will I have to get rid of it? Well in most cases you’ll be able to keep your credit card is isn’t highly advised. The reason being is that credit card  … Read more

Many individuals believe that bankruptcy will ruin your credit. While your credit will take a hit once you file for bankruptcy, one must examine their financial situation and determine what is worse: taking a moderate decline in credit in order to reset their debts or to continue to suffer credit blemishes as a result of  … Read more

After the process of bankruptcy protection has ended and you have received a full discharge after your 7 or 10 years, depending on whether you sought a Chapter 13 or chapter 7 bankruptcy, there are many things that would be very wise to pursue in order to ensure that going forward your financial well being  … Read more

Everyone understands that credit card companies and the banks that underwrite them are in business to do one thing and one thing only, make money. The days of the community banker who lent money to others in his or her own community to start and maintain business are long over. These individuals had a vested  … Read more

Many people who have faced the travails of seeking protection through bankruptcy struggle mightily after discharge to find a way of rebuilding their credit and getting back to a place where they are able to re-establish themselves financially. One of the ways they seek to do this is to use the option of automatic debt  … Read more

Quite often individuals that have run into financial problems have become so down trodden by their financial situation that they make no attempts to try and get their finances under control. They feel that it is a hopeless case and get to the point where they may even be facing foreclosures. The Credit Crunch The  … Read more

It is not uncommon for a lot of people to believe that once they have gone bankrupt that their credit rating is ruined for a very long time. It can actually work in the reverse, as in most cases after filing for bankruptcy individuals find that their credit scores are raised. This is because they  … Read more