Credit Scores

When you have debt (or had it in the past) you’re usually very aware of what your credit score is. While having debt can hurt your credit score, there’s no reason to expect your score to be bad forever. In fact, if you get on track with your payments and start making progress toward becoming debt free, your score will improve quicker than you could imagine! The posts below will help you learn about the relationship between credit scores and debt.

Does Carrying a Balance Help or Hurt Your Credit Score?

You might already be familiar with the fact that your credit score impacts several critical areas in your financial life. A higher credit score can help you to lock down lower interest rates, better mortgage deals, and can even help you to snag an apartment. That being said, does carrying a balance on your credit card help or hurt your…

Will A Day Come When Our Entire Daily Lives Are Scored?

Scoring can be a double-edged sword. It’s useful for the scorer because it allows them to evaluate how much a person has learned or how well they’ve done – and it can be used as a predictor for future behavior. We see this in test scores in the classroom, scores in competitions, and credit scores that allow a lender to…

How Long Does a Bad Mark Stay On Your Credit Report?

Did you cringe the last time you downloaded your free annual credit reports? Or perhaps you don’t even want to look at them because you don’t want to be reminded of the financial and personal messes that have shown up? There’s hope for you yet, because bad marks on your credit report do not last forever. While the average length…

Medical Debt Takes Back Seat in New FICO Credit Score

Come Fall 2014, you could notice a boost to your credit score. FICO recently released news of an update to their credit score model which would soften the blow of medical debt on consumers’ scores. Collection & Credit Risk reports that the change comes at a time “when medical debt accounts for nearly half of all unpaid collections on consumers’…

How To Find A Reputable Debt Consolidation Company

How to find a reputable debt consolidation company

Carrying a load of debt can easily feel like you’re going through life with a black cloud hanging over your head. No matter what you’re doing, stress about the debt can linger in the back of your mind. So let’s say you see an ad for a company that promises to help you pay off your debt more quickly. “Really?”…