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Tag Archives: credit score

Should I Tithe While Getting Out of Debt?

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She and her husband are working diligently to get out of debt . They want to direct as much money as possible to digging out of their hole, but at this point they are also trying to keep their heads above water. I am not an authority [. ... Read More »

    Consumers Feel the Next Crisis: It’s Credit Cards

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    Indeed it is. If you're not in top shape for the credit card shakeout that's already taking place, there isn't much you'll be able to do about it. It's probably already too late. After years of flooding the market with credit cards (and generous limits), banks are finally starting to take it back. Eric Dash, a New York Times reporter, does an excellent job of distilling the situation. From Read More »

      Credit Card Horror Stories: Tales of Credit Limit Reductions and Account Closures

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      Bankrate.com did a story on Friday (sorry for not getting to this earlier) highlighting some of the same stuff that I've been pointing out here for weeks. More and more customers are experiencing credit-limit reductions and account closures. Over the course of the past few weeks, Bankrate.com readers have been chiming in with their own credit-card tales. Many of their stories will seem familiar. Read More »

        YOUR VIEW: Charles Merlis

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        YOUR VIEW: Charles Merlis Hartford Courant, United States - 2 hours ago Instead many people have used it to reduce their credit card debt on which they are paying confiscatory rates. Credit card debt has increased exponentially ... Read More »

          Credit Repair Firms In Crosshairs of Federal Trade Commission

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          Credit repair, or how to make your credit report lie, is not something you want to get involved with. It is much better for you to focus on dealing with a bad credit issue and resolve it, focus on rebuilding your credit report and credit score and just don’t waste one minute or one penny on paying for credit repair. ... Read More »

            Robert Wrote “I Do Not Know Where To Start Other Than I Am in Debt”

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            “Dear Steve, I do not know where to start other that I’m in debt. I want to pay all of my credit card debt starting with my lowest and working my way to the last but I can not accomplish this while I’m paying everyone and can not make any headway. Can I just send something to the others and ... Read More »

              Despite What They Say This Is Not The End Of Subprime Loans

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              Over and over again through print or on the airwaves it is being said that bankers have learned their lesson from the current economic crisis and credit will no longer be extended to people in the subprime market. While we hope that banks have learned their lesson that bad things happen when you lend to people most likely to default, ... Read More »

                Jennifer Says “We Have Accumulated So Much Debt And Bad Credit. What Do We Do?”

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                “Dear Steve, We have accumulated so much debt our credit score is to low to even buy a house. I’ve been looking into different programs to help, unfortunately the charge money I can’t afford either, we have to do this on our own. If a creditor is offering to let you pay over 4 payments and only 55% of what ... Read More »

                  Pam Is Out Of Cash And Out Of Time

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                  “Dear Steve, I am no longer making ends meet. I have my daughters Sallie Mae $20,000 loan payments starting in one month, I can only afford to put little bits of gas in my car at a time, I have a $5,000 car loan and about $12,000 in credit cards. I have not bought anything that I did not need ... Read More »

                    Ed Is Scared But Courageous In The Face Of His Debt

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                    “Dear Steve, Let me start by saying it has been very hard for me to get to this point and ask for help. I hate that I am where I am financially (due to factors both within and not within in my control). I’m 45 years old and for most of my life used to stay very on top of ... Read More »

                      Mary Lou Writes In And Wants To Know “Why Does My Credit Score Keep Going Down?”

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                      Mary Lou “Dear Steve, My FICO score does not keep going up: 3/99 I filed bankruptcy-it will be 10 years next March and should come off my credit score. I owe $5,400 on one credit card and $7,300 on my car for a total of $12700. In January 2008, I owed over $26000. All bills are paid on time or ... Read More »

                        Tony Writes In “I Have Too Much Debt On My Credit Cards”

                        Slow and Steady Will Win The Get Out of Debt Race

                        “Dear Steve, How do I quickly and easily get ALL my credit cards paid off with the limited income that I have? Tony The Answer   Tony, The honest answer is that while you can get them paid off, quickly isn’t going to be part of the solution. It is a classic tortoise and hare situation for you. Slow but ... Read More »

                          Jax Is Looking to Refinance And Has Some Questions

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                          “Dear Steve, I need to refinance my home in Oct of 2009. My credit score is 669. I have a mortgage of $130,000, home equity loan of $34,000, a car loan of $4,000, & credit cards of $4,000. Some credit cards don’t have balances. Do I close these credit cards and extend my home equity loan to pay for my ... Read More »

                            Karen Writes In “Ex-Husband Isn’t Paying The Bills and He’s Trashed My Credit. What Can I Do to Repair It?”

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                            “Dear Steve, I have been divorced for one year. Our house was in my name and husbands. He never refnanced or sold the home. His late payments have started to ruin my credit report and credit score. Now it look as if the bank will foreclose. How can I repair my credit and how long will it take me? Karen” ... Read More »

                              Christy Asks “Why Should I Even Bother With Getting Out of Debt?”

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                              Christy wrote me at GetOutofDebt.org and asked me the following question. “I’ve been in debt so long I don’t even see why I should bother to get out of debt. It’s the American way. You get stuff, make payments and get more stuff. I think I’ll just stop worrying about getting out of debt.” Christy, You are right, the cornerstone ... Read More »

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