Determining whether it is more economical to lease or buy a car is not simply a matter of looking at the monthly cost or the purchase price. Instead, to get a complete picture, numerous factors need to be taken into consideration. A Look at Monthly Payments In terms of monthly payments, leasing tends to be the more economical choice. For example, a sedan that costs $24,775, including leasing fees, results in a monthly payment of $294. In comparison, after a down payment of more than $4,000 on the same new car, the owner pays $400 a month. Purchasing a used…
Do you know you have lots of credit scores? You do, and different lenders use different scores to determine your credit worthiness. Your credit score is a number determined by ranking items on your credit record and then taking those rankings to calculate your credit score. Complicating things is that each of the three major credit reporting agencies (Transunion, Experian, and Equifax) use slightly different criteria when computing your credit score. So, to start, you have 3 different credit scores. But, those credit scores are based on information from Fair Isaac Corporation and is known as your FICO score. But, the credit reporting…
Imagine you are home, the phone rings, as soon as you say hello the person on the line informs you that the call is a debt collection call. You don’t remember owing any entity or person anything and ask for information about the debt. The caller tells you the debt is four years old and they are with a collection company assigned to collect it. Do you pay it? What should you do? If you owe a past due debt, or someone informs you that they are contacting you to collect an old debt you have rights. These rights are…
Your credit is in disarray. You have overdue payments, missed payments, collection attempts and other derogatory information on your credit report. Things cannot get worse. Can they? Yes, they can. Pay a CPN (Credit Privacy Number) broker for a CPN number and you could go to jail for fraud. Credit Privacy Numbers go by many names including: Credit profile number; and Secondary credit number (SCN) There is much debate on message boards concerning their legality for use as a credit repair tool. The information available from trusted authorities suggests their use is often an attempt to break the law concerning…
So, you just got a new credit card with great terms for balance transfers and low interest for purchases, but, your credit limit is only $500. Some people like having low credit limits on their cards so they cannot run up large bills. But, having a high credit limit gives you several advantages so long as you use your credit wisely. If the amount of credit you use approaches your credit card limits, you will be penalized on your credit report. But, having a high credit card limit that you use no more than 50% of help maintain a better…
People have some strange ideas, bigfoot, the Loch Ness Monster, Kim Kardashian being worthy of attention, but none of these are going to do you much harm, and they may even be fun, or at least entertaining. But myths about credit can be damaging, to your reports, and especially to your finances. Here are six odd viewpoints/questions we've addressed in our time as credit consultants. CAN ADDING TRADELINES OF CREDIT REALLY HELP ME AS MUCH AS I NEED? 1. I’m not looking to get any credit cards, a mortgage, or a car, so I don’t need credit. Credit is not…
TLDR: A simple step you can take TODAY, to help with your credit HOW TO ESTABLISH TRADELINES FOR MY COMPANY Have you ever noticed how the necessities in life are some of the most soul-grindingly awful? Paying taxes, working a job we may not like or looking at our credit reports? Credit is not a sexy thing, an exciting thing, even an interesting thing, but it’s as necessary as breathing in this country if you have financial goals and don’t have bucket loads of cash. You want to start a business? Loan. You want to buy a house? Loan. You want a…
You applied, got rejected — what now?? CAN ADDING TRADELINES OF CREDIT REALLY HELP ME AS MUCH AS I NEED? You’ve decided to apply, and the possibilities dance tantalizingly in front of you, for that credit card you’ve been eyeing, that sexy piece of plastic that opens doors to new possibilities—that you won’t max out and will remember to pay off monthly… Or that car you’ve been dreaming of putting yourself in and cruising around town… Or jangling those keys to your new home, finally building equity instead of paying someone else’s mortgage…then you or an agent hit the submit…
Person’s bankruptcy risk score is a number that indicates how likely an individual is to file for bankruptcy in the future. It is similar to credit score, which is also used to assess the responsibility of a particular borrower and the liability they pose when lending to them. However, bankruptcy risk score is much less commonly known than credit score. Unlike with credit scores, there are few resources available that allow a consumer to discover the value of their bankruptcy risk score, or to learn about ways they can improve it. [caption id="attachment_189" align="alignnone" width="600"] Bankruptcy Risk Score by Gene…