Defaulting on a student loan can be a major financial impediment in the short-term future, but it doesn’t have to ruin your financial outlook for good. Below, we provide are a few simple steps you can take to get back on track and recover your credit score in a matter of months.
Maybe you are considering bankruptcy as a strategy for getting out of debt. However, before making any life-altering decisions, it’s important that you carefully explore all of your options. In this article, we give you a basic guide to filing for bankruptcy in Illinois.
Maybe you are considering bankruptcy as a strategy for getting out of debt. However, before making any life-altering decisions, it’s important that you carefully explore all of your options. In this article, we give you a basic guide to filing for bankruptcy in Hawaii.
Maybe you are considering bankruptcy as a strategy for getting out of debt. However, before making any life-altering decisions, it’s important that you carefully explore all of your options.
Out of the many impacts that come with unpaid medical bills, damage to your credit score is one of the most consequential. Technically, a medical bill can not be included in your credit report, but once your account remains unresolved after 180 days, the owner of the debt–typically, a hospital or a doctor’s office–can sell the outstanding amount to a debt collector. At that point, the debt collector can (and probably will) report your debt as delinquent to all three credit agencies, thereby harming your credit score.
If you’ve noticed something awry in your credit report, there’s a lot you can do to take action and fix the problem. A well-composed credit dispute, first and foremost, should help you get back on your feet in no time.
If you’re in the process of paying off a credit card debt but feel like your interest rate is too high, you have the option of negotiating your Annual Percentage Rate (APR) with your credit issuer. When you feel ready to talk to your credit card company, dial the customer service number on the back of your credit card, then choose the options that will route you to speak with a representative. When the representative picks up, here are some tips that can help you negotiate.
When people find themselves in a lot of credit card debt, they tend to think it’s best to financially prioritize those debts and pay them off as quickly as possible. Credit card customers will put all of their extra income toward their balances in the hopes that, with enough hard work, they can climb out of their financial hole in the next few months.
If you don’t have citizenship, permanent residence, or a worker’s visa in the US, then you’ve probably found yourself in a difficult position when asked to present a Social Security number. Not having a Social Security number can be a major obstacle when applying for jobs, loans and credit cards, but that doesn’t mean it has to be a dealbreaker for your finances.
There’s so much advice out there about figuring out how to pay off your debts, but two specific methods are endorsed by financial experts: the debt snowball and the debt avalanche. Which debt you focus on, though, depends on whether you’d prefer to gain a sense of satisfaction in the immediate future (the debt snowball) or save money over the long-term (the debt avalanche). Here’s our explanation of both payment methods.