Are you worried about credit reporting and what might happen to your credit during the COVID-19 lockdown? Businesses have been shuttered for two months or longer, millions of homeowners are applying for mortgage forbearance due to lost income, and many struggle to keep up with their monthly payments. What do you need to know about credit reporting during COVID-19? Credit Reporting Is Still Happening The government’s consumer watchdog site, The … [Read more...]
Do You Have Coronavirus Credit Problems?
Are you worried about your finances? Has the idea of a coronavirus credit score hit been keeping you up at night? Millions of Americans have been affected by COVID-19 and millions more will experience economic hardship in some form in the wake of massive shutdowns of the U.S. economy. While some fail to grasp the need for social distancing, extreme caution, and a need to think of others ahead of oneself, the realities of the coronavirus … [Read more...]
Why You Should Not Apply For A Subprime Loan
Why is it a bad idea to apply for a subprime loan? What follows is not MY advice, but rather the advice from credit reporting agencies like Experian, and from government watchdog agencies like the Consumer Financial Protection Bureau. I preface today's article with that disclaimer because I want the message to be clear; applying for a subprime loan is something most consumers should think twice about doing. And that is according to the … [Read more...]
Don’t Make These Four Credit Mistakes
Are you trying to repair your credit? Are you considering a major credit application such as a car or truck loan? Don’t make these four credit mistakes and you will get much better results from your efforts to get a better FICO score. Some credit fundamentals are fairly obvious: always pay on time to raise your credit scores, don’t carry credit card balances close to the maximum, and check your credit report on a regular basis. But after these … [Read more...]
What You Need to Know About Credit Repair
Credit repair is a confusing issue for some consumers. If you don't consider fixing your credit before a major loan application, you may learn the hard way about one of the most important steps in the credit approval process: checking your credit report before applying. Lenders offer more competitive interest rates and lower down payments to those who have the right credit scores. Are you ready to apply for a major line of credit? If you do … [Read more...]