Credit & Debt Management
Credit and Debt 101
These days it's hard to go through life without taking on a little debt. Unless you plan on saving up enough to buy a house with cash, chances are you're going to need to get a mortgage. If you're thinking about going to college or hoping your child goes to college, you may need to partially rely on student loans. Borrowing money is just a financial tool, but when it isn't used properly it can ca…
Everything You Need to Know About Your FICO Credit Score
FICO is short for Fair Isaac and Co. The Fair Isaac Company developed custom software back in the 1980s that helped other companies determine a credit risk based on a number derived from a person’s credit history. The FICO score ranges between 300 and 850.
How Not to Pay Off Debt
Getting out of debt is a major financial goal for many people. While it’s important to reduce your debt load and try to begin creating wealth it’s also important that you take the right steps toward repaying your debt.
How to Save Money on Your Debt
You can easily save thousands of dollars a year with very little effort by following even a few of the cost-saving measures. The more cost-saving measures you adopt, the more money you'll save. Here are a few ways to save money on your debt:
Where Do You Find Extra Money to Pay Off Debt?
Are you struggling to come up with enough money to pay more than the minimum on your credit card debt? It can certainly seem as if there is never enough money to go around, but you might be surprised where you can find a few extra dollars to apply towards that debt and accelerate the payoff.
How to Eliminate Credit Card Debt
Getting out of debt may seem like a tall mountain to climb, but with a plan, you can become debt-free.
How to Get Your Free Credit Report
In 2004, an amendment to the Fair Credit Reporting Act was made that states that you can obtain a free copy of your credit report from each of the three main credit reporting bureaus once every 12 months.
Should Teens and College Students Have Credit Cards?
Establishing credit at a young age can be dangerous, but it's also very important in building a sound credit history.
Should You Co-Sign a Loan?
One of the favors that might be asked of you at one point is to co-sign on a loan. Whether your child is asking for help getting his or her first credit card, or whether a friend needs a co-signer for a car loan, you might be asked to help out. Before you co-sign a loan, though, you need to consider the pros and cons associated with taking on...
How Bankruptcy Works
Bankruptcy is a very complicated legal proceeding, though its prevalence today sometimes gives the impression otherwise. Though many commercials tout bankruptcy as a way to get a new start and solve all your financial woes, the truth is much more grim. Bankruptcy will, indeed, offer a solution to some financial problems, but it is not without...
Credit & Debt Basics
Credit cards and other forms of debt can be an essential part of your financial toolbox, but you must exercise care when using credit and taking on debt. Find out the difference between good debt and bad debt, and learn how to establish credit and maintain a good credit score.
Watch Out for Hidden Credit Card Fees
Credit card promotions that offer low interest rates can be quite tempting, but unless you read the fine print, you could be hit by hidden fees or unexpected rate increases.
Find Money to Pay Down Credit Card Debt
Struggling to come up with enough money to pay more than the minimum on your credit card debt? You might be surprised at where you can find a few extra dollars to apply towards that debt and accelerate the payoff.
Beware of the Warning Signs of Too Much Debt
Do you have debt that is bogging you down and keeping you from reaching your financial goals? Using credit and debt can be a powerful tool that allows you to buy a home, a vehicle, send children to college, and even provide leverage for other purchases, but when you accumulate too much debt, it can pose a serious problem.
How to Establish Credit
When you don’t have a credit history, it can be difficult and frustrating when trying to obtain a credit card or other type of loan.
Debtors Anonymous Can Help You Overcome Bad Spending Habits
Uncontrollable spending and debt accumulation can affect your quality of life and your relationships with friends and family. Debtors Anonymous might be able to help.
Breaking the Minimum Payment Habit on Your Credit Card
One of the most costly mistakes you can make with credit cards is getting into the habit of only paying the minimum amount due each month. While the minimum amount may be affordable; it will also cost you more money in the long run.
Ways to Improve Your Credit Score
Learn how to improve your credit score so you can get approved for that loan and receive better interest rates.
The Importance of Your Credit Score
Your credit score and underlying history is one of your most vital parts of your financial life.
What Makes Up Your Credit Score?
A credit score is used by lenders to predict how much risk you are as a borrower and some factors affect your score more than others.
Asking for a Lower Interest Rate
Credit card interest rates can be quite high with rates upwards of 30% annually. One way to get out of debt even faster is to reduce your current interest rates.
Getting Out of Debt Guide
Getting out of debt may seem like a daunting task, but this guide can help you through the process.
Credit and Debt Management Made Easy
Learn about getting out of and managing debt at About.com's credit and debt management site.
The True Cost of Credit Cards
Credit card offers are hard to resist. It would be tough for most people to pass up an offer for a 56 inch plasma television worth $2500 for only $50 a month on a credit card. Even though many individuals can afford a $50 monthly payment, they may not realize that they will end up paying more in interest than for the original cost of the television.
Get Out of Debt With a Debt Snowball
The debt snowball, made popular by Dave Ramsey, is a method that allows you to reduce debt by tackling the small balances first. Getting out of debt is one of the top financial goals for many people.
Payday Loans: Beware of These Dangerous Loans
During these turbulent economic times millions of working Americans are facing, payday loans are becoming a popular source of short-term financing. This has been especially true for low-income families. Payday loans are easy to get and don’t require any sort of credit check, but are they really a good idea?
Consumer Credit Counseling Services
Many people are living paycheck to paycheck and are worried about overdue bills and debt collectors. Not knowing how to develop a good budget leads some to consider using a credit counselor. Consumer credit counseling agencies are nonprofits that will help you find a workable solution to financial problems.
Predatory Lending: The Natural Order of Things
Not having enough money to cover daily expenses before payday is a situation that has probably been going on in human households since civilization began. For that same length of time lenders, from financial hustlers in the Roman Forum to the modern-era Payday Loans filled the gap.