Monthly Archives

May 2019

Using secured credit to rebuild your score

Rebuilding with secured credit. One of many tools consumers should use.

By | Bad Credit, Consumer Knowledge, Credit Cards, Credit Reporting, Credit Score, FICO, Rebuilding Credit | No Comments

Unsecured credit step aside, secured credit is here to help rebuild.  Times are tough for the general population’s credit. Even those who enjoyed easy approvals and low interest rates in years past are starting to feel the crunch. The reality is, your credit card or other unsecured debt always catches up to you. When this happens, we enter a rebuilding…

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Credit reporting in countries outside the US

How does credit reporting work outside of America?

By | Consumer Knowledge, Credit Reporting, Credit Score, FICO, Interest Rates | No Comments

Credit reporting at home and abroad. A great deal of attention is put on the three-digit credit score that summarizes your creditworthiness. Have you ever wondered how the credit reporting system came to be? Or, what are the credit systems in different countries in the world? Do you need to rebuild credit if you move to a new country? Let’s…

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Should I pay off olc collections first or focus on new debt

Should my old collections accounts be paid off first or focus on current debt?

By | collections, Consumer Knowledge, Credit Score, FICO, financial advice, Rebuilding Credit, Unsecured Debt | No Comments

What exactly are old collections? When an account becomes severely past due, the account is turned over to collections by the creditor. This generally occurs between 60 and 180 days of being overdue. The creditor will either pass it on to their in-house collections department, or sell the debt to a an outside collection agency. The collection agency then become…

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Why do I have to pay a deposit on everything? How can I improve my credit?

I have to pay a deposit on everything: What can I do to improve my credit?

By | Bad Credit, Consumer Knowledge, Credit Score, FICO, financial advice, Interest Rates, Rebuilding Credit | No Comments

Independence can be great, but not when you have to pay a deposit on everything! The task of landing in your dream apartment doesn’t end with just signing a lease notice, paying the rent, and shifting your things. You also have to set up some or all of your utilities. These include Electricity, Water, gas, sewer, and TV/Internet, etc. Are…

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Make sure your extra payments are going to the principle balance

How do I ensure my extra payments are going to the principal and not interest?

By | Consumer Knowledge, Credit Cards, Credit Score, financial advice, Interest Rates, Rebuilding Credit | No Comments

Make sure your extra payments go to the principle and not the interest. In order to pay off your loan sooner, you ought to make extra payments towards your principal balance. Most people are not aware that extra payments do not always go directly to the principal, but are applied to the interest instead. Remember, the interest is the lenders…

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