8-Figures and broke; Why do professional athletes go bankrupt so often?

Spoiled.

Out-of-touch.

Entitled.

Irresponsible.

Greedy.

Flashy.

Or, just plain dumb.

Those are some words the average person may use to describe the way professional athletes when it comes to their financial management – or mismanagement. After all, with such vast fortunes thrown at their feet just to play a game, how is it even possible that they squander tens or even hundreds of millions of dollars?

Some of that is probably true. Ok, some of that is definitely true, too often. But there ...

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Can you do better than the average person on this credit score quiz?

The average person will get 13 out of these 20 questions correct for a 65% score. Can you do better?

 

True or False:

1. Pulling your own credit report will hurt your score.

True

False

2. When different vendors pull your credit score as you “shop around” for a loan, it will always hurt your credit score.

True

False

3. There is only one version of your credit score.

True

False

4. According to federal law, employers are not allowed to check an applicant’s credit report when hiring.

True

False

5. Everyone is assigned a ...

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How you can tell if a credit repair company is operating illegally

Credit repair organizations provide a valuable service to consumers, helping to increase credit scores by holding credit bureaus, banks, debt collectors, and lenders accountable for reporting accurate information. However, like with any financial service, it’s important for consumers to know their rights and make sure the credit repair company they hire is following all laws and regulations.

So what’s the most important thing to look for ...

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Experian fined $3 million for deceiving consumers

Experian, one of the nation’s three preeminent credit reporting agencies, has been fined $3 million by the Consumer Financial Protection Bureau.

What was the infraction that warranted this $3 mil slap on the wrist? According to the CFPB, Experian deceived consumers when it told them that the version of credit scores they could purchase was the same one that lenders used to make credit and financial ...

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Using Dave Ramsey’s Debt Snowball method to pay off your credit cards.

Amid our current rosy good news of stock market surges and economic growth, there sits an extremely prickly thorn: high credit card debt. In fact, the levels of U.S. consumer credit cards and other personal debt have reached levels not seen since the debt parade stopped in 2008 with the U.S. financial collapse.

In fact, as of 2016, our collective consumer credit card debt climbed to $927.1 billion, ...

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