Category Archive for: ‘Credit Advice’

How To Avoid Mortgage Foreclosure

A particular legal process, foreclosure is an attempt by the lender to recover the mortgage’s balance from a debtor-homeowner who is in default of his amortization payments which therefore forces the creditor to sell the debtor’s collateral. In general, a statute or court order terminates the right of redemption of the borrower on the said property. In order to secure …

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3 Things To Consider Before Initiating Credit Card Balance Transfers

Credit card balance transfers consolidate your credit card balances into one account which is held by another credit card firm. This strategy is often encouraged by these credit companies in order draw more customers. For the customers, a credit card balance transfer is attractive especially when a credit card issuer offers various incentives like loyalty points, interest-free periods or reduced …

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Vacation Days Over: What To Do With Your Credit Card Bills?

Since summer is already over, you now have to manage your credit card bills. Especially when you travelled abroad for the summer, you’ll soon realize how expensive a dinner can be in that foreign land. Add to that the fact that credit card companies do charge the usual 2.7% for foreign transaction fees. When you go on a vacation, you …

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Mortgage Refinancing When You’re Underwater

Due to the economic slump, most homeowners find their home worth less than their mortgage balance. In a recent US News and World Report, it said that almost 11M homeowners are currently having this problem. Often, we find news reports about how home values are dropping due to the foreclosure crisis. However, failing to qualify for mortgage refinancing is also …

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Credit Card Rewards Are Losing Their Worth

To encourage new customers to obtain a credit card, most credit card companies offer huge rewards whenever clients sign up. Some credit firms offer $100 cash back while others offer rebates whenever a person uses his credit card. A lot these people are happy with these rewards because they believe that these credit card companies are indeed rewarding them. They …

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How Can A College Student Avoid Getting Into Credit Card Debt

College students are easy targets of credit card companies. Because they are trying to fit a lot of activities into their hectic schedules, they are often not wary about their credit scores. In fact, they don’t even know the effect of having a low credit score to their financial lives. Today, these credit card issuers are no longer allowed to …

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Need To Know: The Fair Credit Reporting Act

A credit report is really not perfect. An erroneous report can have devastating effects on a person’s credit standing. Although correcting these mistakes can be cumbersome, the Fair Credit Reporting Act of 1970 requires credit bureaus to correct such erroneous entries. If a credit bureau fails to correct the errors then it must face sanctions as prescribed by the law. …

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How The Elderly Can Avoid Home Foreclosure

A lot of American elderly seem to be having a problem regarding their mortgage. After years of hard work and retirement planning, they suddenly find themselves in the brink of foreclosure. In a report of the Association of American Retired Person’s Public Policy Institute, it’s been found out that at least 1.5 million homeowners who are over the age of …

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Why You Should Avoid Charge-Offs

It is very possible for a debtor to be remiss on his loan payment responsibilities. For whatever reason, he may default on his payments. He may not be able to pay his loan amortizations on time. If this happens, he must contact his creditor immediately because if he doesn’t, his creditor will be sending him mails or will be contacting …

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How To Choose A Credit Card

A credit card is an important tool in personal finance. If used responsibly, it can provide a lot of benefits not only to the credit card holder but to his family as well. However, to take advantage of its various benefits, a person must be able to choose a good credit card. We have the best card comparison and searching …

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