Credit scores: everyone knows their own, but how much do you know about WHY your score is the number it is? A number of factors can affect the amount on your credit score, including credit checks (or credit inquiries). Despite the fact that your credit score has the capacity to fall a little bit after some sorts of credit checks, experts tell us that checking our own credit history will not have an effect on our score.
Managing your finances can be tricky. A lot of people have no idea what they are spending their money on, or where it is going. To get started on your budget, get your priorities in order. Food will be number one on the list. A heart-breakingly large number of Americans are undernourished today, and food is basic sustenance that you need to survive and preserve your well being. Keep in mind though that even though food is extremely important, it is financially wise to avoid eating meals out all of the time, and looking for deals at the supermarket can be helpful.
In a business column dated January 20, Baltimore Sun writer Jay Hancock seems to bask in the fact that a prominent accounts receivable management firm filed bankruptcy in the midst of an unemployment-driven recession. Speculation suggests he may have threatened violence against collectors.
Even though we are dealing with the dismal circumstance of the recession, one good piece of information is that Americans as consumers are expected to be more conscientious and savvy. What this means is that as consumers, we will only borrow what we can find the money to pay for, save cash, and pay off credit card debt at the end of each month. This exciting new trend could also mean that as consumers, our credit scores will flourish, reaching what they industry refers to as super prime, the top score that is achievable.
Bankruptcies can stay on your credit report for up to 10 years and can annihilate your credit score by hundreds of points. But by utilizing these plans of action, you could increase your credit score and become creditworthy several years before the bankruptcy drops off your credit report.
Fixing your credit score after a bankruptcy is far from being simple. “Filing bankruptcy is supposed to be a fresh start,” says Stephen Snyder, credit expert and author of “Credit after Bankruptcy.”
