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5 Tips to Improve Your Credit Score When Consolidating Debt

5 Tips to Improve Your Credit Score When Consolidating Debt

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Updated July 2020 If you are considering debt consolidation or have already begun the process you might be concerned about what it could do to your credit score. It is common for credit scores to decline after consolidation, at least in the beginning. Fortunately, the effects are usually temporary and repairing your score is easier than you might think.  Once you have paid down your debts, reduced your spending and made a reliable budget, you can adopt good habits that…
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4 Signs It Is Time to Consolidate Your Debt

8 Signs It Is Time to Consolidate Your Debt

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Updated July 2020 If you have multiple forms of debt, you are probably familiar with the frustration of keeping track of many different interest rates, payment amounts and due dates. Managing multiple debts can be stressful, especially if you struggle to organize your finances or have an irregular income. Add late or missed payments to the mix and you can quickly be drowning in debt. If this sounds familiar,  it could be time to consolidate your debt.
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How Credit Card Companies Make Money

How Do Credit Card Companies Make Money?

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Updated July 2020 Using a credit card is a great way to establish credit and can pave the way for more advanced borrowing like a car loan, personal loan or mortgage. Unfortunately, not all credit cards have good terms and some cards come with extra fees and penalties that can be costly to the unsuspecting consumer.  This is why it is important to thoroughly understand the terms of any credit card you use and make sure that you understand how…
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You’ve Become Debt Free…Now What? Financial Moves That Make Sense

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When you’re focused on getting out of debt, most folks get caught up in the process and don’t think beyond achieving that goal.  If this happened to you – don’t worry!  It’s happened to almost everyone who’s successfully eliminated large credit card debts.  But the fact is, if you are consistent and committed to paying off your debt, it will happen. So then what? If you don’t have a plan for what to do with your money once your debt…
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3 Biggest Mistakes People Make When Paying Off Debt

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Updated July 2020 If getting out of debt were easy, fewer people would be in debt! We know that’s not the case because the average American household has more than $8,700 in debt and according to a recent study a record number anticipate being behind on their debt payments in 2020.  The problem is not that we have debt, but instead the mistakes that we are making that cause our debt to get out of hand. 
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