A personal budget is an estimate of your income versus expenditures over a set period of time. It serves as a high-level overview of your financial situation. A budget can tell you whether you have enough money to make ends meet, and if not, help you identify spending to pare down. Overall, a budget is […]
Being denied for credit might seem like a bad thing, but it may be an opportunity in disguise. Discover what it might mean for you.
When your monthly bills are more than you can manage, bankruptcy may seem like your only way to get out of debt. But while bankruptcy can provide debt relief to consumers who can’t pay their bills, it’s a complex legal process that can seriously impact your credit for up to a decade. Before you decide […]
Debt can take many forms, and be generated through just as many types of lenders–whether loaned by a family member or a major bank. Need to broaden your knowledge of different types of debt? Links in the bullets below can take you to more information about specific types or the terms that relate to them. Credit card – When utilizing […]
Abandoning a debt may seem like a victimless crime, but don’t be deceived – the one it hurts most is you. Being deep in debt can be a scary and overwhelming place, however it’s also the time it’s most important to make a rational choice. You might have considered something extreme, but before you choose […]
Most Americans spend roughly 30 percent or more of their take-home pay on their mortgage payment, leaving many homeowners trying to avoid foreclosure and credit damage. However, it´s important to understand that a mortgage modification has its share of risks, too. Before you assume your credit is free and clear of taking a hit, discover how […]
A job loss, overspending, the death of a spouse – there could be many reasons why a person is unable to repay a debt. When someone can’t pay a bill, some people will simply stop paying their creditors and will default on the debt – an action that can have serious implications for their credit. Another […]
The death of a spouse is one of the most emotionally devastating experiences you can go through. The loss of a mate will also inevitably affect your finances. Many factors will determine how the death affects your money and credit, including whether your spouse had life insurance, any outstanding debts, assets and a clear will. […]
Inquiries fall into one of two types, which can impact your credit score differently. Learn more about credit scores and how they can change.
The penalty for not paying your bills on time can be severe. Know what happens to your credit when your bills are late, and when it’s early enough to avoid long-lasting consequences.
The federal statutes are very clear on the status of federal pension benefits. Learn about the different types of pensions that can be affected by lender garnishment.
When there’s many options available to plan for your future, what’s the best first step to take? Building your nest egg won’t boost your credit score.
Student loan cosigners use their good credit to help someone else borrow money for education. The cosigner is just as responsible for the loan as the student is.
Having your car repossessed hurts your credit more than voluntarily surrendering it. Discover why an auto repossession might lower your credit score.
Your credit scores are a complex interaction of many different variables. Payment history is often an important factor in calculating credit score. While certain actions may help you help your scores, none of them exists as a singular cause. Credit Score Composition Creditors use your credit score to help estimate the amount of risk you […]
You might be able to spend less on groceries to help your budget and finances, but how? Here are a few ideas to cut your grocery bill.
Teach your teens smart money management skills with these seven ideas.
Can a levy of my wages by the IRS affect my credit score? Yes. A levy can along with not being able to pay other bills can affect your credit score.
If you’re past due on accounts to other government agencies, the IRS can choose to use your refund to pay those debts instead.
Debts that have been forgiven or cancelled are considered taxable income. Learn more about which debts are taxable.