There’s a couple to different types of consolidation loans – learn which may fit your situation best. A debt consolidation loan is a new loan you obtain to pay off various debts you have. A debt consolidation loan is usually acquired from a private lender and qualification may depend on your credit score, income and [...]
Credit counseling involves a one-on-one consultation with a credit expert; a person who understands and can explain the complexities involved in a person’s credit score. While some people get credit counseling before applying for a credit card or a loan, many others do not. While this is an individual decision that must be left to [...]
Paying off your mortgage early can certainly have a huge impact on your ability to save money. In this day and age of continual problems in the mortgage industry, it can truly be an achievement to eliminate your mortgage payments entirely before the term of the loan comes to an end. Paying off your [...]
Your credit utilization ratio is the total of your credit balances divided by the total of your credit limit. If you have credit cards and a revolving loan that make it possible for you to charge $10,000 worth of purchases and you have spent $5,000 – you have a 50% credit utilization ratio. Your credit [...]
People with severe debt problems have many online services to choose from. Run a quick search for “online credit monitoring,” and you’ll receive page after page of links to companies that will work with your creditors and lower your monthly payments. Not everyone needs this severe sort of help, however. Many people have debt from [...]
If age is just a number, does it make a difference in your ability to have good credit or not? Because the length of credit history plays a role in calculating credit scores, it’s common for older adults to have higher credit scores than young adults. People generally have different financial goals and struggles at [...]
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