Rebuild Credit

You Received the Offer, Now Should You Open the Account?

The news that lenders are sending offers to riskier borrowers should remind you of one truth we all should have learned from the financial crisis five years ago; just because you can borrow money doesn’t mean you should.

Posted on Jul 07, 2014

Credit Cards, What Will it Take to Make You Stick with Your Company

0% interest for a year, earn cash back, free airline miles, we receive tempting offers from credit card companies everyday. How do we know whether to risk our credit history or stay with what we know? Here are a few things to consider.

Posted on Jun 30, 2014

Quick Guide to Better Credit

One of the common questions we are asked is how to improve a credit report. While there are no quick fixes to credit that is less than perfect, there are things you can do to help it over time. This primer is meant to hit the highlights of building good credit.

Posted on Jun 24, 2014

Three Reasons to Close Your Credit Card

Many people ask about closing a credit card. We’ve all heard that it can cause problems with your credit and credit scores. Below are some tips for deciding if the time is right to close your account.

Posted on May 15, 2014

American Financial Solutions Clients Highlighted in National Campaign

The National Foundation for Credit Counseling® (NFCC) today announced the six-month activity report of the Sharpen Your Financial Focus program. To date, more than 20,000 consumers from a diverse array of states have enrolled in the program, and have completed at least two of the three steps to increase their financial situations.

Posted on Apr 09, 2014

Resist the quick credit fixes

Despite several years’ worth of warning and repeated advice from officials of all stripes, companies offering “credit repair” continue to abound. There are steps you can take if you are in financial trouble that can one day help you improve your profile to potential creditors. But a credit score is part of your financial picture, not the entire picture. An improved credit score should be the effect of you meeting your goal of creating a financially responsible and secure life, not the goal itself.  It’s understandable why someone would be tempted to buy into a quick-fix program. Credit scores not only affect your ability to borrow, they can have a negative impact on insurance rates and can influence utility companies to ask...

Posted on Feb 21, 2014

Watch individual credit balances as well as the overall picture

If you are on the path of improving your financial situation, chances are you are working to reduce your debts. There are obvious reasons to do this, such as lessening what you pay out in debts every month, having financial peace of mind, and creating less risk to you if your income drops. Lowering your debts may also improve your credit score. There is no way to calculate how individual actions affect your score, but one alteration in your debt reduction plan might improve your chances of raising your score faster. The main reason you want a higher credit score is because having a low score can be costly even if you are not borrowing money. A lower credit score can affect...

Posted on Jan 29, 2014

Know Your Options Before Addressing Financial Problems

Your financial difficulties could already be severe enough that you are tempted to accept the first solution that comes along. However, there are pros and cons to bankruptcy, debt consolidation, debt settlement and most debt repayment options. It is important to talk to someone who knows the ins and outs of the credit industry and can offer educated recommendations on how to get out of debt. Debt problems typically do not materialize overnight. Nor do they go away quickly. Many people have benefited from having a credit counselor guide them through their debt repayment options. For those worried that talking with a credit counselor will add another bill, most counseling and education services are offered for free. If you decide a debt management plan...

Posted on Dec 12, 2013

Have an Experience with a Debt Collector? Speak Up Now

The Consumer Financial Protection Bureau (CFPB) might propose new federal rules on how creditors and debt collectors can act to get consumers to pay overdue credit card, medical, student loan, auto or other loans. This decision matters to you if you had an experience with debt collection (good or bad) counsel consumers with overdue debts have a business where you do your own account collection or work in the debt collection industry On RegulationRoom.org, you can learn what CFPB is thinking and what it needs to know. You can share information and experiences and discuss ideas with others. At the end of the discussion, CFPB will get a detailed summary and your input will help it decide what to do next.  Consumers and business both have...

Posted on Dec 04, 2013

Credit Score Undamaged by Personal Inquiry

People often tell us that they are concerned about pulling or accessing their credit report, because they believe it will hurt their credit score.  However, the reality is that as a consumer you can pull your credit report as often as you would like and it will not impact your credit score. Of course, it would get very expensive as we are only entitled to one free credit report, per year, from each one of the major credit bureaus. Those are Equifax, Experian and TransUnion. You can receive your free credit reports by visiting www.annualcreditreport.com. This site was created so that we can see what information is being distributed about us and have an opportunity to correct errors in our reports....

Posted on Oct 14, 2013

 
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