Credit & Debt

Think Twice About Lending to Loved Ones Helping out a friend or family member who is facing financial pressure is certainly generous, but it isn’t always a good decision for everyone involved. There are risks associated with acting as a lender or cosigning on a loan. Before making the decision to help out someone you care about, think about the...

Get the Facts Before You Decide The decision to file for bankruptcy isn’t one to take lightly. Individuals who are facing large credit card balances, medical bills and past-due mortgage payments can use this option to get out from under insurmountable debt. However, it’s a choice that should be avoided if possible. Bankruptcy isn’t an easy fix, there are lasting consequences...

Addressing Credit Problems With a Credit-Builder Loan Borrowing money can be difficult for those who have a low credit score. When banks review an application for a loan, their main consideration is whether or not a person can make good on their promise to pay back what they borrow. A low credit score or a credit history indicating a pattern...

There's More Than One Way to Get Your Business Off the Ground Prepping for a new business venture? A significant portion of any written business plan should focus on how to fund the startup and sustain the enterprise from there. If you already have a funding source in place that’s great! But if you need help to get your business...

5 Things to Do Right Now for a Debt Free Retirement Lots of people have thoughts of the ideal retirement in the back of their minds. Being able to save enough to live comfortably can be important for a peaceful and prosperous future. Whether you have several years until retirement or you’re already there, if you haven’t already, today is...

Know When to Say When Student loans, credit cards and mortgages; it's no wonder that millions of Americans find themselves buried in debt at a young age. The problem with debt is that once you've dug a hole, it's often difficult to climb out of it, especially when you factor in interest charges that exceed your minimum payments each month....

Smart Quiz: How to Pay Off Debt With The Best Short Term Results?Bankruptcy Avalanche Method Snowball Method Winging ItAnswer: Snowball Method Being stuck in a cycle of debt is overwhelming. The bad news is it won't go away on its own. The good news is, you can take progressive steps to tackle it and hopefully get it paid off...

Smart Quiz: How Long Does Negative Information Stay on Your Credit Report?Seven Years Ten Years Forever Until PaidAnswer: Seven Years Your credit score is one of several factors that go into determining final approval on a new line of credit. If you happen to have something negative on it, like a late payment or a past bankruptcy, it can...

Smart Quiz: When Should You Cancel an Unused Credit Card?You Should Never You Should Always If It Has a Fee If High Interest RateAnswer: If It Has a Fee Between paying down debt and boosting your credit score, balancing finances can be challenging. The ultimate goal is to have enough buying power to make big purchases at a stellar...

Smart Quiz: Assuming Timely Payments, What Impacts Your Credit Score the Most?New Credit Credit Utilization Frequency Credit History Credit Utilization RatioAnswer: Credit Utilization Ratio Your credit score is important, whether you need or want credit or not. It isn’t just used to assess financial credibility anymore, but responsibility in general. From potential employers to insurance companies and banks, a...