Having a derogatory mark on your credit report can lock you out of the system but there is a solution If you’ve ever been denied for a loan, there’s a good chance you got a letter saying it was because of derogatory marks on your credit report. That’s what started happening to me in 2009 after ruining my credit. It came as a shock. I had never had trouble getting a loan before but here I was … [Read more...]
Proof You Don’t Need the Highest Credit Score for Great Rates
Stop obsessing about getting the highest credit score possible and focus on how to use it After destroying my FICO during the housing bust, I became obsessed with getting the highest credit score possible. I was getting denied loans and only being offered unaffordable rates and I knew a higher credit score was the only solution. Learning how to increase my credit score, both with legitimate … [Read more...]
How Many Credit Cards Should I Have?
Look at the good uses for credit cards to figure out how many you should carry with you Credit cards get a bad name but there are some very good uses for those little pieces of plastic cash. From reward points to emergency spending, credit cards have saved my financial butt more often than I can remember. Keeping my business spending straight would be impossible without a credit … [Read more...]
7 Steps to Avoid Chapter 7 Bankruptcy
Follow these critical steps to avoid filing chapter 7 bankruptcy and save your financial future Filing Chapter 7 bankruptcy is like financial Armageddon. Unfortunately, most people don’t realize it until they push the button on this financial weapon-of-mass-destruction. You’ll be left with almost nothing after a bankruptcy and will be lucky if you can get a loan for a stick of gum. Any … [Read more...]
What are installment loans?
Installment loans are different from other consumer credit like payday loans and credit cards and can help you get back on track Payday loans have been getting a lot of attention lately with interest rates upwards of 500% a year. The topic brings up another type of loan called installment loans that might be a better alternative to payday lenders and credit card borrowing. One alternative that … [Read more...]