The Top 4 Credit Killers and How to Avoid Them
You don’t have to have a perfect credit score. Few do. Yet having good credit is important for getting good interest rates on credit cards, mortgages, and vehicle loans. Employers look at credit scores, too, when making hiring decisions. Even if you have a suboptimal credit history, you can boost your credit score by avoiding […]
Will Unpaid Student Loans Affect My Credit Score?
As of 2024, total student loan debt in the U.S. has reached $1.75 trillion in total student loan debt, including federal and private loans. The average student borrower graduates with about $29,000 in student loans on average. The number of college students taking out loans has tripled in just the last decade. Yet most students […]
The Silver Lining to Filing Bankruptcy
Bankruptcy solves all sorts of financial problems. But when you’re facing the choice of filing bankruptcy, it can be easy to see only the downsides. If you decide that bankruptcy is the best option for you, try to focus on the benefits instead. Most situations are not as bleak as they seem, and there is […]
5 Common Credit Repair Myths
Credit repair could be considered more of an art than a science. How you, individually, repair your credit depends on how it was damaged in the first place. Educating yourself about how you can repair your credit is smart, but don’t fall for the traps. Here are five common credit repair myths. 1. A credit […]
How to Find Out If You Have a Debt in Collection
If you’re concerned about your credit score, you probably want to know if you have any debts in collections. Having debt in collection can badly harm your credit score. And the damage can multiply if unaddressed. Creditors often report debts to credit agencies but do not seriously attempt collection on the debt. You may believe that […]
How Your Credit Score is Calculated
Your credit score is calculated using the “FICO Five” factors: payment history, credit balances, length of history, credit mix, and new credit. Instead of having a single credit score, however, you actually have three. Each of the the three major credit bureaus (Experian, Equifax and TransUnion) compile their own separate credit scores. Yet every credit […]
Will Foreclosure Affect My Spouse’s Credit?
When facing foreclosure, wanting to protect your spouse is a natural instinct. Whether your foreclosure will affect your spouse depends upon whether the mortgage loan was a joint debt. Going through a foreclosure is never easy. But a foreclosure is even more stressful when it affects loved ones, especially a spouse. Love makes you ask yourself the question: […]
Good Credit is So Important
Do you want to buy a home? Maybe you want to rent? Do you want to buy a car? Or a boat, or a wedding ring? Do you want to borrow some money and make improvements to your home? Or would you like to start a business? You will need good credit to do all of […]
How Long Does Foreclosure Stay on a Credit Report?
If you are facing foreclosure or have already been through foreclosure, you may wonder: How Long Does Foreclosure Stay on a Credit Report? Most of my clients who are facing foreclosure want to keep their properties. There are lots of options for those facing foreclosure in DC, Maryland or Virginia. If you want to save […]