Yes, in some important ways. Generally, student loans CANNOT be discharged in bankruptcy, unlike most other forms of credit, with some exceptions in disability. Therefore, you should be particularly careful when taking out student loans, whether they are from the federal government or from private banks. If your student loans are federally provided, various payment…
Protect your personal information, like your credit card and Social Security number, as much as possible. Shred documents before you throw them out, only give out your Social Security number when you must, and use strong passwords online. Also, regularly look your credit report. Check it for any accounts you did not open. You can…
Identity theft occurs when someone steals your sensitive personal information, such as your name and social security number and uses this information to commit fraud. This may include opening a credit card or filing tax returns in your name. Identity theft can inflict long lasting damage to your credit status because the thief is not…
To find out more information about your credit rating and obtain a free credit report you can visit www.annualcreditreport.com to receive your credit report from the three major agencies: Experian, Transunion, and Equifax. This website allows you to receive one free credit report from each of these three agencies every twelve months.
Collateral is anything of value that can be taken by the lender if you do not pay back the loan. Loans that are granted based upon collateral are called “secured loans” (like a home mortgage or car note). The lender wants to identify property owned by the borrower which has a value at least equal…
It depends on the seriousness of the past problems and the accuracy of the credit report. If you believe there is inaccurate information on your credit report, you should follow the proper procedures to dispute the errors. You can find out how to dispute errors here: https://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports If the negative information is accurate, the Fair…
The short answer is: buy items on credit, pay for those items on time, and repeat this process for an extended period of time with different lenders in order to establish a credit history. A credit rating is designed to measure your ability to repay a debt. Lenders look at your past record of paying…
Credit is precious. The value of how much credit you have and how you use it goes far beyond shopping. Whether you have good or poor credit can likely affect where you live and even where you work, because your credit history may be considered by prospective employers. It is important to understand how credit…
A credit rating is designed to measure your ability to repay a debt. Lenders look at your credit rating before deciding to loan you money. Landlords and employers may also look at your credit rating.
Ask to see the title. Does the title say that the car has been re-built or was in a flood? Write down the 17-number Vehicle Identification Number or VIN. You can use the VIN to check the car’s history. Go to www.carfax.com. Type in the VIN to see the car’s history.