Debt has been getting a bad rap. It seems that if you have a radio show and you talk finance, you think all debt is bad. No wonder many consumers think that all debt can only have a negative impact on their net worth. But this isn’t always so.
Say you’ve got some extra money to pay off one of your major loans (mortgage, auto, credit card, collections). How do you get the most bang for your buck in terms of boosting your credit score? We’ve got the expert answer.
When it comes to protecting your credit from identity theft, you have options. You can do nothing. You can pay to monitor your credit reports. Or, you can freeze your credit reports. Each has their pros and cons.
When paying off your credit cards, conventional wisdom says you should always start with your highest-rate card first, but that may not be the best strategy if you’re looking to boost your credit score or maintain a generous credit limit. Learn here which pay-down strategy will work best for you.
An act is pending in Congress that would require credit reporting agencies to remove medical collections once they’ve been paid or settled as long as the amount was less than $2,500, but is it a good a idea?