With both programs your debts are negotiated for less than what you owe and combining your debt together giving you one monthly payment program. Settlements are based on your ability to save sufficient funds to negotiate with creditors to substantially lower the...
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Unsecured vs. Secured Debt
A secured debt is a debt in which the creditor maintains a security interest in an item or piece of personal property such as a house, automobile, boats, etc. With secured debts, if you fall behind on payments, the lender can repossess the property that originally...
What is a credit report?
A credit report is a record of your credit activities. It lists any credit card accounts or loans you may have, the balances, and how regularly you make your payments. It also shows if any action has been taken against you because of unpaid bills.
How can I get a copy of my credit report?
You are entitled to receive one free credit report every 12 months from each of the nationwide consumer credit reporting companies—Equifax, Experian and TransUnion. This free credit file can be requested through Annual Credit Report or by contacting the companies...
What type of information is on my credit report?
There are usually four types of information: Identifying Information: Your full name, any known aliases, current and previous addresses, social security number, year of birth, current and past employers, and, if applicable, similar information about your spouse....
How Consumer Reporting Agencies Collect Information
Credit bureaus collect information from parties that have previously extended credit to you, such as a department store that issued you a credit card or a bank that granted you a personal loan.
What if my credit is bad?
A Loan Modification is not based on credit. The banks are trying to make a good loan out of a troubled loan. The loan modification will not hurt your credit; generally only late payments or a foreclosure will negatively affect your credit score.
How Can Impulsive Buyers Stop Spending Money?
How Can Impulsive Buyers Stop Spending Money? What's impulsive shopping for? Merely stated, it’s an unplanned buy of a services or products. In accordance with the BusinessDictionary.com, such purchases “ranges from small (chocolate, clothes, magazines) to...
What is a Loan Modification?
A Loan Modification is when the bank allows a change in the terms of your existing mortgage. The purpose of a modification is to significantly lower your monthly payments, for either a temporary or permanent period of time.