You are entitled to a free credit file disclosure (credit report) once every 12 months from each of the three nationwide consumer credit reporting companies: Equifax, Experian and TransUnion. We recommend you monitor your credit by pulling one of the three reports every four months. You may request your free credit reports online at www.annualcreditreport.com….
Here is an excellent post on credit scoring by my blogging colleague, Gene Melchionne of Connecticut, on Money Heath Central. What’s your credit score? How many times have you heard, “What is your credit score?” Or someone talking about how to keep your credit score up? Or keep it from going down? Or read an…
The over-55 crowd is the mostly likely age group to declare bankruptcy, the AARP says. This group is carrying mortgages, home equity loans and credit card balances. According to an AARP study, over half of this group spends most of their income paying down debt. A quarter of these folks pay over 75% of their…
What You Can Do to Avoid Problems with Credit After Bankruptcy * If you don’t want it, don’t get it. If you have doubts about whether you really need the loan or service, or whether you can afford it, don’t let yourself get talked into it by a salesperson using high-pressure tactics. You can always…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers Rent-to-own By renting a TV, furniture or appliance from a rent-to-own company, you will often pay three or four times more than what it would cost to buy. The company may make even more profit on you because the item you are buying may be previously…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers Small Loans It is always best to save some money to cover unexpected expenses so you can avoid borrowing. But if you are in need of a small loan, avoid the following high cost loans: Payday loans Some “check cashers” and finance companies offer to take…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers Be wary of auto dealers, mortgage brokers and lenders who advertise: “Bankruptcy? Bad Credit? No Credit? No Problem!” They may give you a loan after bankruptcy, but at a very high cost. The extra costs and fees on these loans can make it impossible for you…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers Avoid High Cost Predatory Lenders Don’t assume that because you filed bankruptcy you will have to get credit on the worst terms. If you can’t get credit on decent terms right after bankruptcy, it may be better to wait. Most lenders will not hold the bankruptcy…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers Credit Repair Companies Beware of companies that claim: “We can erase bad credit.” These companies rarely offer valuable services for what they charge, and are often an outright scam. The truth is that no one can erase bad credit information from your report if it is…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers “Secured” Credit Card Another type of credit marketed to recent bankruptcy filers as a good way to reestablish credit involves “secured” credit cards. These are cards where the balances are secured by a bank deposit. The card allows you a credit limit up to the amount…
Beware of Credit Offers Aimed at Recent Bankruptcy Filers “Disguised” Reaffirmation Agreement Carefully read any credit card or other credit offer from a company that claims to represent a lender you listed in your bankruptcy or own a debt you discharged. This may be from a debt collection company that is trying to trick you…
