We want everyone to learn how to read a credit report, and to get in the habit of checking their own credit regularly. You can get a free credit report from each of the three major credit bureaus once per year by visiting www.annualcreditreport.com. But when is the right time to check? Here are 3…
Posts Categorized: Credit Counseling
When it comes to boosting your credit score, there are a lot of myths floating around. It’s important to be skeptical and proceed with caution because your financial health is at stake. If you are influenced by the wrong myths about credit cards, you can actually suffer from poorer credit, because you might be avoiding things…
Your credit score is vital for your financial life. It’s what lenders will look at when deciding whether to offer you a loan or credit, and it will impact the terms they offer. As you can see from our “What is a Good Credit Score?” infographic and video, credit scores range from 300-850, with general…
When it comes to improving one’s credit score, there are few shortcuts to make note of. The best way to improve your credit is to make every payment in full, on time. Do this, and your score will show improvement within a very short period of time. So are there any things that can be…
One way people seek to address their debt is by transferring balances to a new credit card. They might be consolidating multiple cards into one debt, or combining different kinds of debts under a new revolving credit card account. This kind of strategy isn’t for everyone, and like any debt repayment strategy, has upsides and…
We recently wrote about 5 things to know about paying off a credit card. While we coach people to pay off their debts and live more on a cash basis, we recognize that credit cards also have some very important benefits. There are, however, some risks that can be a serious threat to your personal…
Our credit counseling and Debt Management Plans help with all kinds of revolving debts, including store credit cards and traditional bank-issued credit cards. Store cards can present some unique challenges for consumers. Stores will tempt you to sign up for a credit card by offering a long interest-free period or a big discount when applying…
There is rare agreement among financial experts that consumers facing multiple credit card balances should focus their extra effort—and funds—on one debt at a time, and after that debt is paid off, put any extra funds toward the next debt on the list, and so on. While we all think this is the wisest plan…
Many educators and businesses use the SMART goals concept, which was created by Paul J. Meyer and spelled out in his book Attitude is Everything. We think the SMART goals system can be a good tool for debt counseling; any financial goal we recommend should be SMART. SMART stands for Specific, Measurable, Attainable, Realistic, and…
We recently linked to the FTC’s advice for consumers who are “Knee Deep in Debt,” which includes a recommendation that consumers seek credit counseling if necessary. In giving this advice, the FTC cautions readers that “just because an organization says it’s “nonprofit,” there’s no guarantee that its services are free, affordable, or even legitimate.” Indeed,…
Paying off large amounts of debt can be a daunting task. If you’ve recently fallen behind on payments, have more cards than you can manage, or have payments that are too high, rest assured – you’re not alone. There are a number of debt relief options available for those looking for help to get out…
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