Posts Categorized: Credit and Debt

Have you ever wondered what would happen if you didn’t pay your debts?  At first, the consequences are straightforward, your creditor may report your delinquent debt to the credit bureaus, leaving a mark on your credit report and affecting your credit score.  If you continue to miss payments, your creditor may deem your loan “bad”…

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Having debt can be a good thing. Your credit history – the biggest factor that allows you to purchase big-ticket items like cars and houses – is based around how well you handle your debt. That said, many Americans are living with more “bad debt’ than what’s considered “good debt.” According to the Northwestern Mutual’s…

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Since 2010, financial institutions are required to get your permission for overdraft protection, a service that you would opt in to receive.  If you’ve opted in, you will be charged overdraft fees if you exceed your account balance. Many banks and credit unions offer overdraft programs, and these can vary by institution. It might seem…

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A high credit score will make it easier to qualify for mortgages and car loans, start a business, and, in some cases, secure a job. More importantly, a good credit score reflects a secure financial standing, meaning you have fewer money problems to worry about.  Striving for a good credit score is one of the…

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Debt settlement is often portrayed by settlement companies as a magic bullet for anyone drowning in debt. But the truth is, debt settlement is only an ideal debt solution if : You have $10,000 or more unsecured debt You’re frequently late on debt payments You’re having trouble making the minimum payment amounts every month You…

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Raising your credit score can make a big difference when it comes to getting a loan, and how much that loan will cost you. If you are getting ready to apply for some kind of credit, or you’ve already applied and have been offered less-than-great terms, it might be worth your while to take some…

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Did you know that making debt payments on time plays a significant role in your credit score? Missing a payment can bring your score down several points, and the longer you put off making payments, the more your credit suffers. Late payments bring on a slew of penalties, including: Late fees Increased interest rates Higher…

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It’s no secret: whether you’re an incoming college student or their lucky parents, tuition payment strategies are an important topic before school starts.  Student loans are becoming one of the largest types of debt in the nation. For most people, they are often necessary to receive a college education.  If you’re not careful, student debt…

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Back to school time can be financially challenging, whether the students in your life go to elementary school, college, or somewhere in between. It’s critical to budget carefully to get through the early fall and give your students the best start on their academic year. One thing that is important to note about budgeting is…

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For anyone focusing on all the fun of the big day, it’s also important to talk about the more serious conversations that come with wedding planning. It is vital to understand where you both stand on key topics, align on where you want to be in the future and figure out how you plan to…

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