If you are drowning in debt and receiving daily phone calls from at least one debt collector, it’s important that you know your rights. Thanks to the Fair Debt Collection Practices Act (FDCPA), there are laws designed to protect you from that unwanted communication. What collectors can’t do The FDCPA spells out several things debt collectors are prohibited […]
A credit charge-off means the credit issuer has written the credit card account off as a loss because you are more than 180 days late on your payment. The debt may be transferred to a collection agency, and that’s where the real trouble begins. But you do have recourse. The Fair Credit Reporting Act (FCRA) […]
As you probably know, having a good credit score can work to your advantage in many ways. For instance, the interest rates you are charged on credit cards and loans is mainly based on your score. We have started to become a cashless society. With today’s technology, it is so much easier to tap and […]
Having a less-than-stellar credit report can cost you in many ways. It can cost you in higher interest on loans and credit cards, the ability to obtain new credit or even that nice, new apartment. Most people know all this. However, one thing many people aren’t aware of is that bad credit can cost you […]
Do you think using personal loans to pay off credit card debt is a good idea? Some people might say no. When you think about it, it’s like filling one hole by digging a new one. Instead of getting out of debt, you are just moving it around, which hardly seems like a solution to your credit situation. As […]