The amount of time it takes to boost your credit score can vary depending on your individual credit history and the actions you take to improve it. Generally speaking, making positive changes to your credit behavior can lead to improvements in your credit score within a few months, but significant improvements can take several months…
Good debt is considered to be an investment in your future. It’s a type of debt that is taken on with the intention of generating a return on that investment. Some examples of good debt include mortgages and student loans. These help establish credit and generate a return on investment over time. Bad debt, on…
If you are looking at improving your credit score, you’re probably researching your credit history and trying to understand what impacts your credit. Many of the myths you hear about credit score factors involve things that don’t directly impact your credit score, such as checking your credit. Let’s take a look at some of the…
The Consumer Protection Financial Bureau recommends checking your credit report annually. A 2019 survey by Credit Card Insider, found that people actually don’t check their credit score enough. According to their survey: 60% of respondents didn’t check their credit report over a span of six months. 18% of respondents had NEVER checked their credit scores.…
When you settle on a debt, such as a canceled credit card, ultimately it can hurt your credit. High credit scores are designed to help people who manage their debt successfully. In certain situations, it might be warranted to settle on an outstanding debt. Let’s take a look at the pros and cons of negotiating…
Over 300 million people in the US carry some form of debt. Credit is a helpful way to spread the cost of purchases and cover much-needed expenses, but responsible credit management is key. This is where credit scores come into play. If you’re new to the world of borrowing, you might be wondering what goes into getting…
Annual bankruptcy filings in 2022 totaled more than 387,000 according to the United States Courts. This represented a drop of 6.3% from 2021, down from more than 413,000. The most common type of bankruptcy filing in the U.S. continues to be Chapter 7, with more than 225,000 filings in 225,000. Chapter 7 bankruptcy is a common type of bankruptcy…
The American people are swimming in debt. In fact, the total American household debt is nearing $17 trillion. The average American holds nearly $60,000 in debt. This includes mortgages, student loans, credit cards, and auto loans. The age demographic with the most debt is 40 to 49 years old. Carrying a lot of debt has the…
Have you had credit problems in the past? Your credit score can impact your ability to get a loan, a job, or an apartment. If your credit score is low, you may be considering hiring a credit repair company to help improve your credit. These companies are skilled at helping improve credit scores by working with creditors…
Did you know that as many as 10% of Americans become victims of identity theft each year? Identity theft can create lots of trouble for your finances, and one of the most significant impacts is on your credit score. When someone steals your identity, they can open new credit lines in your name, run up bills, and…