It's Not Only Your Credit Score That Matters The cornerstone to your credit repair is not your credit report- it's your bank statement. The information on your credit report is a reflection of the activity you see in your checking and savings account. Understand that if you deleted everything derogatory on your credit report, but don't fix [...]
Support Our Push On Financial Literacy The scary truth about the current generation entering into the market is that they are not taught how to handle money or manage debt. To compound the problem, today's youth is inheriting a fiscal fubar from the previous generations, equipped with hugely expensive health care, skyrocketing costs for higher education, [...]
FHA redefines how student loans are considered. New changes concerning student loans will be creating a new problem if you are not on a regular payment. Prior to the new changes, you can defer your student loans for 12 months and the payment would not be used against your debt to income ratios. Now when [...]
FHA lowers credit standards to qualify for loans. Standard credit scores for FHA loans are at 580. With a score at this level, the down payment is 3.5%. However, FHA will now accept even lower scores, but will require a down payment of 10%. While this will definitely open the door for more people to [...]
Giving Perspective on Credit We are often asked, "What can I do to raise my score?" The answer is that having a high score relies to two thing the bureaus must see on your report. 1) Positive Credit Payments 2) The Absence of Negative Credit Payments It's just that simple. If you have nothing good [...]
Employing Your Money With any business there are employees. Sometimes these employees take on different forms. Your technology and your money can both serve as employees. They can both earn capital for your business, and for that matter, your home is no different if you think of your home as a business. Make sure that [...]
Staying on Budget Say what you will about the shopping habits of men versus women, but there is something to be said about the stereotypical man-shopper. In the action plan of all our customers, we try to determine how much is spent monthly. Here are a few of the positive tips we can learn from the [...]
The Shell Game - How your debts are bought and sold Debts are bought and sold like commodities. The potential return on an investment a company makes on a debt portfolio is the crux of the debt collection market. Junk debt buyers, who feel they are excluded by the rules set up for actual debt collectors, [...]
Recently we had a potential customer come to us frustrated. They took the advice of their realtor to pay off an old collection account. To their surprise, the result was a drop in their credit score. How can this be? They did the responsible thing and paid off a debt collector and it hurt their [...]
Is Age Really Just A Number? Looking at 78 year Jim Morris, one may consider age is "just a number", but in the credit world, age is definitely more. When considering debts there are two age limits- or statutes of limitations you want to keep in mind. The first statute is how long a debt [...]
