The good news is that, by choosing a nonprofit credit counseling agency, you can end up with an affordable option that will leave you better off. Despite the monthly fees these plans charge, debt management can help you save thousands of dollars through reduced interest rates and creditor concessions. Plus, you get valuable advice and financial guidance all along the way when you choose to work with a nonprofit credit counseling agency versus a for-profit agency who is “not directed to provide coaching or advice,” said McClary.
We all have bills to pay, so why not leverage your payments to work for you? Making credit card payments ahead of schedule will reduce the accrued interest and your debt-to-income ratio. Staying ahead of the curve on rent and utilities will help strengthen your credit score as well. If you have a financial calendar, move your payments up by seven days—it could make all the difference.
Each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report once every 12 months, if you ask for it. To order, visit annualcreditreport.com, or call 1-877-322-8228. You may order reports from each of the three credit reporting companies at the same time, or you can stagger your requests throughout the year.

A good idea would be to keep three to four credit card accounts open, but only use one or two of them; put away or cut up the others. Once you have paid off a card, though, keep the account open, even if you don’t want to use it anymore. Closing a card will lower your credit score, even if you always paid on time and never carried an outstanding balance. If a card's high annual fees are making it undesirable, try asking the credit card company for a downgrade to one of their free or lower-fee cards. This allows you to maintain a longer history with the company, which is important for a healthy credit score. The company will report to the credit bureau that you have a good record with them, which will increase your credit rating.
Secured cards are a great way to build or improve credit. When you open a secured card, you submit a security deposit that typically becomes your credit limit. This deposit acts as collateral if you default on your account, but you can get it back if you close your account after paying off your balance. As long as you use a secured card responsibly — for example, make on-time payments and use little of your available credit — you may see improvements in your credit score. Unfortunately, in addition to the upfront deposit, this credit-building tool can have extra costs, like an annual fee.
Premier America is unique because it has the Student Mastercard® from Premier America CU that’s eligible for the intro 0% for 6 months on balance transfers, though credit limits on that card are $500 – $2,000. There is an 11.50% Variable APR after the intro period. There’s also a card for those with no credit history – the Premier First Rewards Privileges® from Premier America CU, with limits of $1,000 – $2,000 and a 19.00% Variable APR. If you’re looking for a bigger line, the Premier Privileges Rewards Mastercard® from Premier America CU is available with limits up to $50,000 and a 8.45% - 17.95% Variable APR.

Become familiar with the information contained in each of your credit reports. They'll all look very similar, even if you've ordered them from different bureaus. Each credit report contains your personal identifying information, detailed history for each of your accounts, any items that have been listed in public record like a bankruptcy, and the inquiries that have been made to your credit report.
Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting. Counselors discuss your entire financial situation with you, and can help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.

You can start to resolve identity theft issues by visiting www.identitytheft.gov to report identity theft and get a recovery plan. This is an excellent, free website created by the Federal Trade Commission. In addition to reporting identity theft, you will receive a free action plan, and you’ll gain free access to people who can guide you through the identity resolution process.


If you use the second method — and this if the first time you rehabilitated the student loan — the default associated with the loan will also be removed from your credit reports. Although the late payments associated with the loan will remain for up to seven years from the date of your first late payment, having the default removed could help your score.
One of the biggest considerations people make when deciding whether to file for bankruptcy is the potential impact it will have on their future financial lives. While it can certainly help them clear out massive amounts of debt that they couldn’t handle on their own, it can also restrict their ability to take out loans and credit during the payment term of the bankruptcy by requiring them to get the court’s permission first.
While the Savings Secured Visa Platinum Card from State Department Federal CU has a slightly higher security deposit at $250, it does have one of the lowest APRs of a secured card at 13.99% Variable. This may come in handy if you find yourself carrying a balance month to month — but we strongly encourage you to pay each bill on time and in full to avoid interest charges. This card is available to everyone regardless of residence by joining the American Consumer Council for free during the application process.

The statement date (which occurs well before your payment due date) is the date listed on your statement when the credit card company records your balance to charge interest for the month. It is also the balance reported to the credit bureaus. If you are planning to make a lump sum payment to the balance and want to see the positive result to your credit score as quick as possible, make the payment well before that statement date so the new lower (or zero) balance is recorded and reported.


Taking out a loan should be a relatively seamless process. There are a lot of lenders to choose from, so conducting research to see which financial institutions provide the best — and worst — user experience can save you a lot of headaches. Browse each bank’s website to review customer service contact options, read reviews and search social media to see what people are saying about your top choices.


We made the following tips as practical as possible to give you both the structure of a plan and a clue about how to actually stick to it. Knowing what to do and actually doing it are two very different things, after all. We also explored how long the hands of time will have to turn before you can put bad credit behind you, hopefully once and for all.
How it works: You can add your teen as an authorized user to your account by logging in to your online account or calling the number on the back of your card. The information required typically includes their name, birthday and SSN. After adding your teen as an authorized user, they will receive their own card that is linked to your account. They can use their card to make purchases just like you would.

SoFi has taken a radical new approach when it comes to the online finance industry, not only with student loans but in the personal loan, wealth management and mortgage markets as well. With their career development programs and networking events, SoFi shows that they have a lot to offer, not only in the lending space but in other aspects of their customers lives as well.

You cannot use your existing credit cards while you’re on a debt management plan, nor can you open new accounts. McClary also said that if you do manage to open new credit card accounts during your debt management plan, existing creditors who find out may stop participating in your debt management plan and reset your account to its original terms and interest rate.
Well, there are some things you can do to help move the needle in the short term, but making significant changes to your credit score will likely take a little time. If you’re looking to apply for a home loan in the not too distant future that’s probably not what you wanted to hear. In this article, though, we’ll highlight some things that will help, and put you in a better position when applying for credit next time.

If you are a candidate for Chapter 7 bankruptcy, you will need to complete mandatory pre-filing credit counseling with an approved credit counseling agency. During this step, a credit counselor will go over your income, debts and regular bills to determine your best options, including alternatives to bankruptcy. The cost of this type of credit counseling session is typically $50 to $100.

I decided to work on my credit report because my goal is to buy a house. I was on YouTube and saw a video of Brandon Weaver discussing on how to remove the negative reports from my credit report. He sounded so convincing I decided to place an order. I received samples of the letters within 10 mins from purchasing it. I had 7 negative items on my report but when I sent out those letters the credit bureaus delete 4. I'm currently working on getting the other 3 removed with letter #2. This section 609 really works. Can't wait til the other 3 are removed so I can work on finally buying my house and refinancing my car. And take those dream vacations like Brandon. Thank you!!


It’s likely that the debt collector has the incorrect amount for your debt or has tacked on high fees — Rheingold said you may owe $500, but a third-party debt collector may inflate that number to $2,500 with fees. Both of these practices are illegal. Third-party debt collectors cannot misrepresent the amount you owe or collect fees or interest above what’s stated in your original contract.
Are you thinking that the best way to improve your credit score is through transferring balances multiple times? If you, this tactic will leave you in more debt and a lower credit score. There are numerous fees and rates that vary across companies, all of which are counterproductive. Your path to fast credit repair should include minimal, if any, balance transfers.
If someone has opened accounts in your name, without your knowledge, you could be the victim of Identity Theft. The best first place to start managing identity theft is IdentityTheft.gov. This is a government website that enables you to report an identity theft and get a recovery plan. As part of that plan, you will be encouraged to freeze your credit and file disputes with the credit bureaus. It is critical to keep a good paper trail.
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