Save early for a better later. The whole world revolves around money. unfortunate, but all too often the case. When you’re young, you quickly spend money without giving a second thought to the possibility of adverse effects. You’re certainly not thinking of how to avoid debt. It’s essential that children are educated about the value of money, so they understand…
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…
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…
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…
If you’ve ever applied for a loan, chances are you’re familiar with the term “negative equity”. However, you may still lack a full understanding of exactly what it means. Secured loans are basically loans that use physical collateral to calculate the amount and terms of the debt repayment. Secured loans with negative equity An example of a secured loan would…
You pay off a past debt, now you want the reward! Many people ask about the time it takes for their credit report to update once they pay off a past debt. If you’re anything like me, you wait a few weeks and then start checking to see if the derogatory mark has dropped. It can never happen soon enough;…
Rent to own – Let’s start with the basics. If you are planning to buy a home but your income leaves something to be desired, don’t despair. There are certain ways you can still own a home, though they’re not as straightforward and conventional as a traditional mortgage. Rent to own, which is also known as lease to own, permits…
An introduction to credit card balance transfer. The average credit card debt in the U.S. is $5,331 on an individual level. But, if you’re new to the credit game, you’re not likely part of this statistic. For those of us that have been building and maintaining credit for a while now, we know there are some common techniques to keep…
Get to know your credit. In fact, become best friends. Whether you’re looking to improve your credit score, or building it from scratch, we’ve got some tips for you. Building and maintaining good credit is no easy task, but often times consumers are overwhelmed by the information they encounter online. A low credit score is not the end of the…
Does your credit score prevent you from getting retail store credit cards? You know the story: You visit a store, find exactly what you’re looking for, and immediately sign up for a store credit card. Later you find out that agreement came with a snag: an astronomical interest rate. Most of the retailer stores offering credit cards will cost you…