​9 Things that debt collectors CANNOT do to get you to pay.

Have you had a run-in with a debt collector? If so, you’re not alone, as the Urban Institute study recently revealed that an estimated 1 in 3 adults, or 77 million Americans, are so delinquent paying a debt that it’s gone to collections. If you’re one of those people then you’ve also probably learned that debt collectors can be aggressive, relentless, sneaky, rude, deceptive, or even resort to downright harassment to collect money. That’s especially true of third party debt ...

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Is this my real score?

Many consumers are aware that they have a FICO score, a scoring model used by most banks and lenders to rate their use of credit and debt issued that’s been issued by the Fair Isaac Corporation since 1989. But far too few realize there are different versions of FICO scores, and not all banks and lenders use the latest versions, and in fact, most still use versions that are considered ancient considering that FICO 8 has now been rolled ...
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Fair Isaac’s FICO 8 Bankcard Score appears to be straight from the Department of Redundancy Department.

Many consumers are aware that they have a FICO score, a scoring model used by most banks and lenders to rate their use of credit and debt issued that’s been issued by the Fair Isaac Corp. since 1989. But far too few realize there are different versions of FICO scores, and not all banks and lenders use the latest versions, and in fact, most till use FICO 4 which is almost ancient considering that FICO 9 has now been rolled ...

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The A, B, C’s of teaching your kids about credit score.

For most young children, money is a foreign and strange concept, as they just assume their mom or dad are omnipotent and can summon any toy, video game, or sugary breakfast cereal from the ether. But all too soon they’ll realize that money makes the world go ‘round, and we actually need to work hard for little green paper that we then pass on to others when we want to obtain goods or services. Soon they’ll be faced with their ...

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7 Habits to build a great credit score.

Keeping a great credit score is the best way to save money on your mortgage, car loan, credit cards, and other interest rates, but it takes responsible financial choices with money, credit, and debt to achieve that. As FICO scores range from 300-850, with 680 considered good and above 720 excellent, it’s important to understand these seven habits that will increase your credit score and improve your finances over time.

1. Get your financial house in order.
The first step to ...

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Americans are still buried in credit card debt, but have plenty of options to start shoveling their way out.

Recent findings from the Federal Reserve revealed that Americans are still buried in debt even after the recession and financial recovery. In fact, as a nation we now have $884.8 billion of credit card debt, not to mention our rising student loan and medical debt. And while our credit card debt totals are down approximately 5% since last year, analysts point out that’s because so many people have defaulted on large amounts of debt, not that we’re paying it off. ...

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New study reveals that 1 in 10 American adults are “credit invisible.”

Every adult in the United States has a credit score, right? Not so fast, as recent studies show that a large percentage of the population actually are without a score at all, or have credit histories that are so sparse that they’re unusable. Those are the findings of a study released last week by the Consumer Financial Protection Bureau. The CHPB reported that an astounding 26 million adult Americans, or one in ten in the population, have no credit reporting on ...

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10 Statistics that show we have a long way to go to truly understand credit, debt, and personal finance.

1. According to the National Foundation for Credit Counseling, 60 percent of American adults had not reviewed their credit score and 65 percent had not reviewed their credit reports within the previous 12 months. Only 29 percent of adults had reviewed both their credit report and score in the last year, or just over 1 in 4.

2. The same study found that 54 percent of respondents erroneously thought that their credit scores could be found on a standard credit report.

3. ...

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Answering your top 10 questions about credit scores.

1. What is considered a good credit score?
Unfortunately, there isn’t just one credit score because there are several credit reporting agencies, each with their own scoring model and number range. Some go as high as 990, but the scoring system used by FICO (the Fair Isaac Corporation) is most popular. FICO scores range from 300-850 and a 680 is considered good and above 720 an excellent credit score.

2. Will paying off debt and closing credit cards help my score?
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15 Things you can’t get with a bad credit score.

We all know that managing your credit is vital to financial success, but did you know that a bad credit score or blemishes on your credit report can hold you back from getting the things you need in every day life? Of course big ticket items like home loans and car loans are much more difficult – or impossible – to get without a good credit score, but you might be surprised what other day-to-day purchases, services, and even your ...

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