A charge-off is one of the worst black marks on your credit report and can cause your credit score to plummet my more than 100 points. But what causes a charge-off, what does it mean and is it even possible to reverse the credit score damage? Key Points Why Debts Are Charged Off If you […]
What Happens When Accounts Are Charged Off As Bad Debt? Read More »
Over 84% of adults in the U.S. have credit cards, and credit card debt continues to rise. Americans hold an average of 3.84 credit cards with a household debt is $8,942. NewYorkFed.org says the total U.S. consumer debt topped $16.9 trillion in the fourth quarter of 2022. That’s a lot of debt. If you feel
6 Best Debt Settlement Companies of 2023 Read More »
Debt collection is perfectly legal in many circumstances. If you owe money to a lender, the lender may hire a debt collector to try to collect it. Unfortunately, you may not know whether debt collectors are legitimate or attempting to defraud you when they contact you. Nobody wants to be a scam victim. Unfortunately, according
How to Spot Payday Loan Debt Collection Scams Read More »
According to CareerBuilder.com, an astonishing 78% of workers in the U.S. live paycheck to paycheck. If you’re among that group and haven’t yet had a chance to build up an emergency savings fund, you may find yourself in need of quick cash the next time your car breaks down or a family member has an
15 Reasons You Were Denied a Payday Loan Read More »
When you’re desperate for cash, a payday loan might seem like the only solution, particularly if your credit score is less-than-perfect. They seem like the ideal option for people who need money fast – the funds are usually available by the next business day and the requirements are extremely basic. Almost anyone is eligible. What
What are the Basic Payday Loan Requirements and Qualifications? Read More »
Payday loans are notorious for their high interest rates. But how high are they? The truth is that it depends on where you live. What You Need to Know about Payday Loan Interest Rates Payday loans are short-term small-dollar loans ranging from $100 to $1,000, depending on your state’s laws. Payday loans don’t typically disclose
Payday Loan Interest Rates: They’re Higher Than They Seem Read More »
Sometimes it seems like a payday loan is all you need to solve your financial problems. But what happens when it’s time to repay the loan, but you can’t afford to repay it? On average, 20% of payday loan borrowers can’t afford to repay the loans. Here’s what to expect if you default on your
What Happens If You Don’t Pay Back a Payday Loan? Read More »
Millions of Americans struggle with credit cards. The average household now owes between $5,000 and $9,000 in credit card debt and the number continues to rise. If you’re one of them, debt consolidation could be a way out. Most forms of debt consolidation will not close your credit cards, meaning you can still use them
Does Debt Consolidation Close Credit Cards? What You Need to Know Read More »
Personal loans have been rising in the U.S. over the past decade. According to TransUnion, the total outstanding personal loan debt in the United States is $143 billion. What’s the reason for the sudden increase? Debt consolidation. According to one recent study, 39.7% of loan applicants with high credit scores used their personal loans to
Pros and Cons of Debt Consolidation: Is It Worth the Effort? Read More »
The formation of an avalanche is called the Starting Point. They begin slowly and can quickly spiral out of control, making it difficult to escape – just like your personal debt. The hardest part of getting out of debt is finding your starting point. Debt avalanche could be the debt repayment method to keep you
Feeling Crushed by Debt? The Avalanche Method Could Help You Break Free Read More »
