Many people are trying to recover from negative, or lack of credit history, from events like Bankruptcy, foreclosure, and divorce. Almost everything in the credit industry, that is, qualifying for home loans and car loans, is geared towards people who “have” lots of credit. That
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Archives for Credit Reporting
What Happens to My Cosigner’s Credit if I File Bankruptcy?
Many times, when people try to get credit for a car, house, or something else, they can’t get credit on their own. So, they get a family member or friend to cosign on the loan. But, if they cosign a loan for you, they are
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Credit Scores – It’s How You Use Your Credit!
Over the years, I’ve had many clients who told me they had great credit. But, for many of them, the amount of credit they had available wasn’t the problem, it was how much of it they used. This is called “credit utilization”. By the time
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Credit Repair? Is it for Real? No!.
Almost all “Credit Repair” schemes you see are frauds. The article: What do you mean there is No Credit Repair Fairy?” is dead on. We’ve all seen the ads- fix your credit, repair your credit now! Don’t buy it! The author sums it up nicely:
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Looking for a Job— Bad Credit Can Haunt You
The country is trying to recover from recession, and it just seems more difficult for casualties of the economy. If you lose your job and try to find a new one, many employers will check your credit. It becomes a vicious cycle. Because someone loses
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Credit Scores- Myths v. Reality
Here is a link to a great article with some tips for consumers. How is your credit score determined? What are the real facts? Important stuff to know, for your financial life now and in the future. http://articles.chicagotribune.com/2013-01-04/site/sc-cons-0103-karpspend-20130104_1_credit-scores-numerical-snapshot-credit-reports If you have questions about Debt and
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I Want to Give up my House. What is Best for my Credit: Foreclosure, Short Sale or Deed-in-Lieu of Foreclosure?
Take a look about this article: http://tinyurl.com/3jldp3v. The columnist, Michelle Singeltary, from the Washington Post recently wrote about this common question. So many of my clients ask me the same question. Surrendering your home by foreclosure means allowing the bank to go to court and
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