Credit Repair Pro Can Help Prevent Foreclosure, Minimize Credit Damage
Missing a single mortgage payment will nick your credit score, but foreclosure can send it plummeting 100 points or more. A low credit score can make it virtually impossible to obtain credit or financing of any kind, from a car loan to a charge account at Kohls. But it gets even worse. A real estate foreclosure stays [...]
read moreHome Foreclosures Decimate Credit Scores
Caught between a rock and a hard place, homeowners are being squeezed. The financial hardship of long-term unemployment and the toll it takes on credit scores, coupled with banks’ unwillingness to modify mortgage loans, is forcing many long-time American homeowners into foreclosure. With unemployment rates expected to remain high for at least the next year, possibly longer, [...]
read moreNew Regulations Created to Protect Consumers and their Credit
While the credit crunch and consequential economic recession has taken its toll in many ways, the one silver lining may well be the resulting lessons learned. Many practices that once were common among banks and creditors have now been deemed misleading and detrimental to the individual and congress has started to take action to protect [...]
read moreShould I Co-Sign to Help Someone Obtain Credit?
Recent shifts in policy have made it harder for young people and people without excellent credit to get their own loans and credit cards. The CARD act now states that those under the age of 21 can not hold a credit card without either a steady job or a co-signer. Those who have blemishes on [...]
read moreHow to Protect Yourself from Debt Collection Errors
As the economy continues to stagnate, debt collectors are becoming increasingly aggressive and some are crossing the line, hounding people for debts they’ve paid or never owed. (See our September 13, 2010 post.) Debt “sharks” who buy up old debt lists from banks and credit card issuers don’t verify debts or identities before filing suit [...]
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