Youve fallen behind on a loan payment—far behind. After a certain period of non-repayment, your debt is considered a charge-off, or a debt that your creditor assumes you wont pay. Although youre still legally liable for this debt, your original creditor may turn it over to a collection agency to recover it. Getting behind on … Read more
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A 755 credit score reflects a strong financial track record and responsible credit management. With a score like this, you’re well-positioned to take advantage of favorable loan terms, lower interest rates, and access to premium financial products. However, there’s always room for improvement. This article will explain the implications of having a 755 score, what … Read more
Your credit score is one of the most important numbers in your financial life It gives lenders an idea of how risky or safe you are as a borrower The most commonly used credit scores range between 300 and 850. So what does it mean if you have a credit score of 781? Let’s take … Read more
Building a credit history from scratch can be tricky. How do you access credit when you don’t have a credit score for lenders to review in the first place? For some individuals in need of credit, the answer may be in something called a credit-builder loan. A credit builder card is a type of secured … Read more
Debt settlement may reduce your debt, but expect an impact to your credit score Part of the Series Bad Credit Guide Debt settlement companies offer to help clear your outstanding debts by negotiating a smaller amount than you actually owe. Debt settlement typically has a negative impact on your credit score. The exact impact depends … Read more
While achieving a perfect 850 credit score is rare, its not impossible. About 1.3% of consumers have one, according to Experians latest data. FICO scores can range anywhere from 300 to 850. The average score was 714, as of 2021. The few people who do manage to achieve perfect credit scores tend to share three … Read more
When it comes to financial goals, it can be hard to prioritize when you have more than one. Such is the case when it comes to wanting to pay off debt and also save for a down payment on a home. While it’s possible to do both at once, it may be more advantageous to … Read more
Paying your mortgage twice a month instead of once can help you pay off your home loan faster and save thousands of dollars in interest. But how much can you really save with this strategy? The amount of savings depends on several factors, including your mortgage balance, interest rate, and loan term. In this article, … Read more
For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent. For credit scores that range from 300 to 850, a credit score in the mid to high 600s or above … Read more