Most major events require a background check or credit report before the deal is final. What you may not know is that the major credit reporting companies have a proven record of being wrong. If you're already struggling to pay your bills, that extra blight on your record could cost you a new apartment or better job, sinking you further into your own debt, and costing you more money along the way.
It's easy to fall into the debt trap, but not very easy to crawl out. For someone living paycheck to paycheck, a major life event like a job loss or unexpected medical bill can result in a growing mound of debt. To make ends meet, many people are often forced to turn to credit cards to supplement their income, even though they may be unable to make the minimum monthly payments.
Bankruptcy isn't a declaration of failure. And it's certainly not a permanent mark against your financial record. After bankruptcy, when you're enjoying freedom from the debts that made your life hell, you can start to build a better financial future.
Most of us around Orlando know that a poor credit history can affect you in certain ways, such as your ability to obtain financing for a new car or home. But can (and should) it affect your ability to get a new job?
The United States Congress is considering a change to the Fair Credit Reporting Act that would remove medical debt from credit reports, and help ease the financial impact of a major medical procedure.
As Tropical Storm Irene threatens to become a hurricane, we are reminded of the climate conditions of our state of Florida. We enjoy mild winters, plenty of sunshine and the Gulf Coast and Atlantic Ocean but must pay for it with the occasional hurricane. Why do people choose to live in our state, or any state for that matter? It may be a combination of factors including the weather, the social climate and for some it may be the financial climate.
In previous posts our Florida readers have learned about credit card debt, the affect it can have on a credit score, the unsavory practices of credit card collection practices and how credit card debt can contribute to bankruptcy.
There are so many numbers, codes and passwords that we all need to remember every day. It's amazing the knowledge that we can store in our brains with all of the times we have to login to various systems on a regular basis. But while we all know and remember how to sign in to Facebook or our work emails, there is another important bit of information we should be more concerned about: our credit scores.
In a previous post, we began a discussion about how college graduates can enter the real world while creating financially wise habits. A college degree is no promise of financial stability. In fact, it very well means that the graduate with her degree has more student loan and credit card debt to pay back than the person next to her who didn't go to college.