Serious delinquency on a credit card payment is known as credit card default. This status will affect your relationship with the current card issuer and your ability to receive future credit offers. It also lowers your credit score, impacting your ability to rent apartments, secure loans, and may even keep you from buying a car.…
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Would you like to be fiscally fit? No matter how old you are, these five tips offer a basic concept of good financial habits that will set you up for success. While budgeting your money and being self-disciplined can be difficult, it is essential for financial prosperity. Automate Your Savings To ensure that you can…
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Debt collection can be a frightening experience that is amazingly common throughout the United States. According to one estimate, one in three Americans will receive a message at least once from a debt collector concerning a delinquent payment. Collection lawsuits are incredibly serious. Showing up unprepared or flat-out refusing to answer can result in severe…
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Having a high credit limit is beneficial, even if you do not intend to use it. It means that financial institutions trust you to borrow money and repay it. Having credit cards with a large spending capacity come in handy in case of emergency. You can also use these cards to make large purchases and…
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Mistakes happen. Families go through financial hardships or have personal issues that may prevent them from paying their bills on time every month. Unfortunately, credit card companies are not particularly forgiving. When you pay your credit bills late, it will affect your credit score. The consequences of a late payment depend on the situation. Every…
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With the world running on credit more and more, it’s essential for every individual to check their free annual credit report. Technically, you should be checking your credit score every few months to keep it on track, but if you can’t, make sure you get a credit report at least once a year. Benefits of…
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Personal loans are a popular method of obtaining financing in the US. According to TransUnion, Americans held more than $117 billion in personal loans as of the end of last year. Most personal loans are unsecured, meaning that lenders don’t require collateral. However, before approving you for a loan, they’ll need to be sure that…
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With millions of new cases every year, identity theft is an issue that is growing in prevalence. Those that are affected by identify theft could find themselves with fraudulent debt issues, a damaged credit score, and other negative issues. Since it can be such a significant problem, all people need to be on the alert…
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The average American consumer continually gets credit card offers. Applications for new cards can be seen at retail locations, received in the mail, or viewed on the internet. Consumers receiving these offers on a daily basis should be careful to consider when the right time is for them to apply for new credit offers. Do…
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A debt management program is a form of voluntary debt repayment program that is managed by a nonprofit consumer credit counseling agency. Before you opt to use this type of service; however, you should know that it has some unique advantages and disadvantages. Therefore, it’s essential that you carefully consider its pros and cons. What…
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. Heather Weis | Benveniste Law Offices