Rapid Reader Questions: Walmart, Apartment, Credit Risk, College

Q: Does a credit union have to provide a member in writing the amount of interest paid on a loan for tax purposes? A: Depends on what kind of loan it is. Reporting would be voluntary or required by IRS on certain types of loans. Q: How can a financial company put a charge off … Read more

National Debt Relief Shares The Good News For Consumers With Bad Credit

Philadelphia, PA (PRWEB) April 12, 2015 National Debt Relief recently shared in an article published April 6, 2015 how consumers who has either a very low credit score or zero credit score can finally have an easier access to credit. The article explains how FICO came up with the pilot program and who will mostly … Read more

What You Need to Know About Your FICO Score

If you have ever heard someone refer to your “score” or your “credit score” they are probably referring to your “FICO Score.” It is called a FICO Score as the way the number is calculated is based on software developed by a company called Fair Issac and Company. Once you have requested a loan, a … Read more

Would Talking With Money Management International Ruin My Credit? – Shan

“Dear Damon, I have $30,000 in debt due to my college tuition. Most of it is in Citi bank. My interest rates are really high. Starting from 13% to 29%. I am paying around $1000 towards minimum payments. Due to that I am living pay check to pay check. I am worried that I will … Read more

Just Thinking About Strategically Defaulting on Your Mortgage? FICO Says They Know Who You Are

FICO recently released a study that claims they can pinpoint those who are prime candidates for strategically defaulting on their mortgage. Strategic defaulters can be defined as those able to make their mortgage payments but unwilling to do, often because their mortgage is worth more than their property value. Researchers at FICO have determined an … Read more

A Quarter of People Have a Credit Score Below 599

It’s no surprise that people struggling to makes ends meet would wind up with a bad credit score after maybe maxing out their cards, missing a payment or landing in collections. The Associated Press is reporting that FICO has stated that the credit scores for more and more people are sinking to new lows. The … Read more

Debt Settlement Companies Draw Wrong Conclusion About Recent FICO Score Facts

In a press release by Morgan Drexen (Morgan Drexen Warns Consumers: If You Choose Bankruptcy You Could Face a Devastating 240 Point Decline in Your FICO Score) the debt settlement company draws the conclusion and states “Perhaps the difference between debt settlement and bankruptcy, when it comes to FICO scoring, is simply this: through debt … Read more

What if I Just Stop Paying My Credit Cards in Texas. – Steve

“Dear Steve, I currently have around $65K in credit card debt. Some of it is from paying of my auto loans, 13K, with balance transfers in order to lower monthly payments. The bulk of it was from 4-6 years ago, when My wife and I both had a 25% reduction in pay for over 2 … Read more

Sally is Divorced and Ex-Husband Has Stopped Paying Mortgages

“Dear Steve, Hi, I am hoping for some help. I have read some stuff already on your website regarding this, but my situation is a bit different. My ex-husband and I are divorced for a year, separated for 2 yrs prior to that. In our separation agreement it states that he is responsible for 2 … Read more