… to an article in the Dallas Morning News, medical debt can have a huge impact on a debtor’s credit score affecting their ability to obtain home loans, credit cards as well as the interest rate they’re offered. The article focuses on the story of Steve Smith who suffered a heart attack during a lapse in his health insurance.

The article said:

“When Steve Smith had a heart attack in 2006, the last thing on his mind was the impact on his credit report. But because of a gap in his …

Category: Credit Counseling , Medical Bills

Tags: Credit score Medical Bills

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… to an article in the Dallas Morning News, drivers and homeowners in North Texas with poor credit ratings pay an average of 35 percent more for insurance coverage than those with good credit – even when driving records and recent damage claims on homes are identical.

The article said:

“Rates submitted by the 35 largest auto insurers show that all but two use credit history to help decide whom to sell insurance to and how much to charge. Some companies double the rates for …

Category: Credit Counseling , Economy

Tags: Credit score Insurance North Texas

Permalink: /credit-counseling/could-your-credit-score-affect-your-insurance-rates/

Bankruptcy offers the perfect opportunity to rebuild your credit score by using credit cards and other forms of debt shrewdly.  Here a few tips on how to master the credit score game after filing bankruptcy.

Tip #1 – Go for the top credit cards and other loan products first.  Many debtors mistakenly believe that once they file for bankruptcy they are forever relegated to the “trash heap” of creditors who charge outrageous interest rates and …

Comment by Jim Ince: … in rebuilding your credit legally, so that you avoid …

Category: Bankruptcy , Credit Card Negotiation , Credit and Bankruptcy

Tags: Bankruptcy Credit card Debt Personal Finance

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After bankruptcy, a credit history statement can make your credit report look better.

After your bankruptcy is complete, you need to get your financial life in order.  Of course one of the first steps to doing this is to improve your credit report.  You probably have heard all of the common ways to improve your credit report, but one thing you might not know about is your right to have a credit history …

Category: Bankruptcy , Credit Counseling , Credit and Bankruptcy

Tags: Bankruptcy Credit score Fair Credit Reporting Act

Permalink: /credit_bankruptcy/a-credit-history-statement/

Credit card companies are frantically taking drastic actions in their attempt to “work around” the new credit card legislation that will restrict their ability to randomly raise interest rates and hit credit card consumers with surprise fees.  Already credit card consumers are beginning to scream foul. An article in the NJ featured a distraught credit card consumer whose monthly minimum …

Comment by Jacob Decker: Credit cards companies employ unfair …

Category: Credit Card Negotiation , Credit Counseling , Credit Crisis

Tags: Credit card Debt Money Management Personal Finance

Permalink: /credit_card_negotiation/this-is-the-worst-time-to-have-credit-card-debt/

Your credit score is calculated by factors that are often counterintuitive.

One of the largest problems people face when trying to improve their credit is that they are ill informed.  You heard your friend so and so say that this could help your credit, or your other friend said that could help your credit.  Well don’t fret any longer, because a recent article on Yahoo Finance presented “ 7 …

Category: Credit Counseling , Loans / Mortgages , Pay Day Loans

Permalink: /pay_day_loans/positively-impact-your-credit-score/

After the passing of the Credit Card Act, which will restrict credit card companies’ ability to increase interest rates, amongst other things, the credit card industry took decisive action to soften the blow to their profits. Below are some of the changes you may see on your credit card in 2010:

An annual fee.  Since the Credit Card Act was passed, about 43 percent of new credit card offers contained annual fees, …

Category: Credit Card Negotiation , Credit Counseling , Credit Crisis , Economy

Tags: Credit card Credit Card Act fees repayment

Permalink: /credit_card_negotiation/what-to-expect-from-the-credit-card-industry-in-2010/

Since the passage of the Credit Card Act, many credit card lenders have been dreaming up new ways of getting more money out your pockets.  One of the newest tricks on the block is the infamous “inactivity fee.”  Inactivity fees were at one point commonplace for credit cards; but eventually fell out of fashion.  But at least with some credit cards, the inactivity fee could make it comeback.   How does it work? …

Category: Credit Card Negotiation , Economy , Loans / Mortgages

Tags: Credit Card Act credit cards FICO Inactivity Fees

Permalink: /credit_card_negotiation/credit-card-inactivity-fees-coming-your-way/

As credit card companies increase interest rates and fees, many credit card consumers are looking for alternative sources of credit.  Even personal loans are given a second look due to their lower interest rates.  But what is a personal loan?  A personal loan is an “unsecured” credit line which is similar to “secured” loans in that there is a fixed amount of credit available and a finite …

Category: Credit Counseling

Tags: Credit card Interest rate Loan Personal Finance

Permalink: /credit-counseling/credit-cards-vs-personal-loans/

… the handling of cash, expensive merchandise or a security clearance, you may be subjected to a credit check. If you’re behind on your bills, have delinquencies, defaults, judgments or liens, there a few things you should know.

While a company is restricted from not hiring you simply because you filed bankruptcy, they may be allowed to deny you employment if you have bad credit.  However, if they were challenged in a court, they would need to prove that your poor credit demonstrated …

Comment by Karen: … you because of bad credit? I 'think' that I have lost out …

Category: Credit and Bankruptcy , Unemployment - Job Loss

Tags: Bankruptcy Credit Check Employment

Permalink: /job_loss_unemployment/credit-checks-bankruptcy-and-employment/

… are drafting a proposal that would shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.

The article said:

“…their proposal, spearheaded by Illinois Democratic Rep. Melissa Bean, isn’t sitting well with consumer advocates who say banks shouldn’t be allowed to skirt state regulations if the restrictions don’t suit them.”

Under the plan created by President Obama and Congressman Barney Frank, lenders would face credit …

Comment by Jacob Decker: Credit card debt can almost always be …

Category: Credit Crisis

Tags: Banking Services Consumer Protections Credit card

Permalink: /credit-crisis/state-legislators-seek-to-shield-banks-from-tough-credit-card-rules/

Many people find their credit card canceled even though they had a zero balance and the credit card was not included in their bankruptcy schedule.

Imagine six months after your bankruptcy has been discharged.  You’ve turned your financial situation around and there is no more worrying how you are going to pay your bills.  Everything is on the up and up; you’re budgeting well and have a little money to spend, so …

Category: Credit Card Negotiation , Credit Crisis , Dallas Lawyer

Tags: Chapter 13 Title 11 United States Code Credit card Equifax Social Security number United States

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