Manage Your Debt - Let's Explore Your Options
GET STARTED NOW
Some of you might be rejoicing a bit because of news that the chief credit scoring outfit, FICO, is changing its rules about how it scores debtors. The main change is that the new system will draw a distinction between medical debt and regular debt. The other big change is the new system will disregard medical collection accounts if they are paid or settled.
Last week, FICO, the nation's top credit score provider, announced upcoming changes to the way some debts impact your credit score. This could be good news for thousands of people, if lenders adopt this new model.
People may be hesitant to reach out for help due to misconceptions about financial counseling. Here are some of the false beliefs that consumers admitted in the 2014 NFCC Financial Literacy Survey
Some collection companies may be more effective simply by using the letterhead from local courts. Learn what you can do to protect your rights with debt collectors.
When you check into a hotel or rent a car you are required to present a credit card as security. This reality is troubling in light of the news that a single hotel in Houston reported it had been the victim of a data breach that potentially affected about 10,000 customers.
Improving your credit score is one benefit to undergoing a financial makeover, but for many people it may not be the primary reason. This becomes especially obvious when you learn that you, the consumer, are not a credit reporting agency’s prime customer.
Recent news that a payment processing company agreed to pay more than $1 million to settle a Federal Trade Commission (FTC) complaint is a reminder to all of us to be careful when considering companies or organizations that say they will help you reduce your debt. There are legitimate organizations that will help you, but it can be difficult to tell the difference between a legitimate service and a scam without gathering some information up front.
If you are watching television at all these days, you have probably seen the ads that make credit card points look like a real score. In truth they can be. If you use a credit card correctly you can get some real deals by taking advantage of credit card incentives.
Sometimes the key to reducing fees and interest on an account is simply asking the creditor. Here are some tips on how to pose that question.
Call us at (888) 864-8548
and your counselor will review your credit report, analyze your financial situation and help you find the option that's best for you.
