Creditors may send an account to collections if it’s overdue. The account may go to an in-house collections agency or a third-party agency. In either case, collections can hurt your credit and make it harder for you to get loans or credit cards in the future. Finding out how collections affect your credit and how … Read more
People who owe money often find it hard to understand what’s going on, like when the same debt is reported by more than one collection agency. If you’ve found yourself in this situation and are wondering how it’s possible (or legal) we’ll explain how this happens, why it matters, and what you can do about … Read more
You’ve started the process to buying a home. You’ve met your lender and have been preapproved. You’ve picked a house and the seller has accepted your offer. You’re well on your way to living in your new home – there can’t be many more hurdles, right?. Often, this is true. But if your finances change … Read more
A 500 credit score falls into the bad range. Youll have trouble getting credit, but your score can recover. The products shown on this page are mostly or entirely from our advertising partners. They pay us when you click on one of their links and then do something on our site. However, this does not … Read more
This article contains general information and is not intended to provide information that is specific to American Express products and services. Similar products and services offered by different companies will have different features and you should always read about product details before acquiring any financial product. Understand how closed accounts on credit reports may impact … Read more
The stakes are high for first-time homebuyers applying for a mortgage. It’s only natural to wonder how your credit scores will impact your mortgage application. Buying a house is an exciting milestone in life. However, it also involves a lot of financial planning and preparation. One of the key factors lenders consider when approving a … Read more
Yes, you can get a mortgage even if you have credit card debt, but you may have to go through some extra steps. How credit card debt affects the mortgage approval process can help you get ready for the process of buying a home. Key takeaways. How Much Credit Card Debt is Too Much for … Read more
While paying off your debts often helps improve your credit scores, this isn’t always the case. After making payments on a loan or credit card debt, it’s possible that your credit score will go down. However, that doesn’t mean you should ignore what you owe. The benefits of paying your debts are far greater than … Read more
This is a normal part of the debt collection process. It applies to most common types of consumer debt including: If you’ve ever been hounded by a debt collector over an old bill you don’t even remember, you may have wondered, “How many times can a debt be resold, anyway?” Well, I’m here to tell … Read more
Buying a house is an exciting milestone – in fact, 94% of Americans say that owning a home is part of the American dream. However, its important to be aware of the things not to do after buying a house. Avoiding common mistakes can save you time, money, and stress. Whether youre a first-time homeowner … Read more