Credit Education Archive for February, 2010

• The Troubles with Collections and Charge- offs

  by Janet Lacey

  Creditors can find it hard to get payments from their borrowers. There are cases where creditors are left with no other choice but to get the help of collection agencies and even declared the unpaid credit accounts as charge- offs. Nothing good will come out of these two extreme cases … (more) February 25, 2010

• The Weight of Personal Information in Credits

  by Janet Lacey

  The qualifying factors used by the major bureaus in computing for the credit worthiness rating of account holders are called credit evaluation factors. Through these factors the bureaus are able to see whether the individual is credit worthy or not. These factors differ in their bearing to the total computation … (more) February 21, 2010

• The Implications of the ECOA Codes

  by Janet Lacey

  The Equal Credit Opportunity Act or most commonly called as the ECOA was formulated to give account holders a leveled field in getting high credit worthiness ratings. This law was passed as a counter measure to the possible biases and inclinations that lenders may have to certain group of people. … (more) February 18, 2010

• The Downside of Cosigning

  by Janet Lacey

  There are a lot of things that people can share to make their burdens easier to bear, one of these things is cosigning for a financial agreement. Financial agreement varies from simple personal loans, long term business loans, payment installments and other agreements that require monetary compensation from one party. … (more) February 15, 2010

• Getting Confused in Transferring too much Balance

  by Janet Lacey

  Managing debt through transferring debts from one credit card account to another is one of the fastest growing rackets that many people ran into. Balance transfers can even make some of the oldest borrowers and card account holders become lost in keeping in track with their unpaid balances. Transferring debts … (more) February 10, 2010

• The Crediting Pickiness of the 1970s

  by Janet Lacey

  The recent global recession is not an isolated economic downturn that America has felt over the last few decades. Analysts do not have to look back that far to the Great Depression of the 1930s to find out what went wrong and what truly caused the benchmark financial downturn. In … (more) February 7, 2010

• Doing Right Financial Advices at the Wrong Situations

  by Janet Lacey

  Indebted individuals have enough problems that they need to deal with in the first place. Being too indebted can lead to a financial disaster with no available repairs. Just after the recession a huge number of indebted individuals were forced to declare bankruptcy. And there are even worse situations where … (more) February 4, 2010

• The effects of Crunch to Credit Scores

  by Janet Lacey

  A majority of credit account holders are having a hard time of time of getting low interests rates for their accounts. The recent crunch caused by the recent global recession has forced many account holders to exert extra efforts in getting and maintaining a good credit worthiness rating. Before the … (more) February 1, 2010