It is possible to have a 700 credit score when a default payment goes to collections. That being said, it’s not likely your credit score will stay at 700 once this happens. Credit scores tend to drop once there’s a report of collections. If you have ever been on the receiving end of calls from … Read more
The Fair Credit Reporting Act (FCRA) is a pivotal federal law that regulates how consumer credit information is collected shared and used. Enacted in 1970, the FCRA seeks to promote fairness, accuracy, and privacy in credit reporting. While the law applies broadly, certain entities are exempt from full FCRA regulations. Overview of the FCRA The … Read more
Taking out a mortgage is likely one of the largest financial commitments most people will make in their lifetime. A $400,000 mortgage is certainly no small feat, and borrowers will be making payments for many years to come. Naturally, many homeowners want to know – how long will it take me to pay this off? … Read more
Cash Advance America, often referred to as simply Advance America, is a company that offers various financial services like payday loans, installment loans, lines of credit, and title loans. But despite operating for over 20 years and serving millions of customers, Advance America is a controversial company with concerning business practices. So is Cash Advance … Read more
Reasons why your credit score could have dropped include a missing or late payment, a recent application for new credit, running up a large credit card balance or closing a credit card. Your credit score can drop for a number of reasons, including a recent late or missed payment, an application for new credit or … Read more
This is a normal part of the debt collection process.It applies to most common types of consumer debt including: Falling behind on debt payments can feel like an endless nightmare. As soon as you deal with one debt collector, your debt seems to get sold yet again to another agency. It leaves you wondering – … Read more
Keeping your debt at a manageable level is one of the foundations of good financial health. But how can you tell when your debt is starting to get out of control? Fortunately, there’s a way to estimate if you have too much debt without waiting until you realize you can’t afford your monthly payments or … Read more
Living on your own creates a whole new level of responsibility. These tips can help you handle the job. Moving out of your parents’ house is a good way to get a quick education in life. The challenges of getting your finances in order, paying off student loans and learning to budget—and doing it without … Read more
Credit scores operate on a scale of 300 to 850. The better your credit score, the easier (and cheaper) it is to borrow money. While a bad credit score can hamper your borrowing efforts, having no credit can shut you out entirely. Credit scores set the terms for some of the most important financial decisions … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Bankrate is always editorially independent. While we adhere to strict , this post may contain references to … Read more