September 15, 2020Shawn LaneConsumer Credit Expert When most people think about financial planning, retirement is the logical finish line. You work hard, live within your means and save enough money to live out your days in peace and comfort.But you don’t stop managing your finances after you retire – and that includes your credit. While your days of applying for …
Covid-19 and Credit
August 7, 2020Shawn LaneConsumer Credit Expert Credit is a game of trust. Lenders trust borrowers to pay their bills on time, and borrowers trust lenders to make good on the lines of credit they’ve extended. When times get tough, that trust is put to the test. As the economy continues to struggle due to fallout from the Covid-19 pandemic, lenders …
What is Debt Consolidation?
July 9, 2020Shawn LaneConsumer Credit Expert Dealing with multiple sources of debt is like juggling chainsaws. If you’re really good at it, you might be able to avoid getting hurt. If you’re really bad at it, you probably won’t get very far without incident. Either way, you’re one mistake away from disaster.So why not combine your debts into one, easily-manageable …
Best Alternative to Payday Loans
June 11, 2020Shawn LaneConsumer Credit Expert Payday loans get a lot of flack – and rightfully so. They have outrageous interest rates and often use predatory practices to lure in financially vulnerable borrowers. But if you think avoiding payday loans is easy, you’ve probably never been in a situation where you need money immediately. When you live paycheck to paycheck, …
Credit for Kids
May 21, 2020Shawn LaneConsumer Credit Expert If you take an informal survey of people struggling to manage their finances as adults, they’ll probably have one thing in common. Disregarding any socioeconomic factors, there’s a good chance they had very little personal finance education as children.It’s not surprising that 36% of college students have managed to rack up some amount of credit …
What is a Credit Builder Loan?
April 7, 2020Shawn LaneConsumer Credit Expert Starting from the bottom is always hard. With no upward momentum, just getting started can feel like a monumental task.That holds especially true for your finances. Money tends to make more money, and good credit lends itself to even better credit. All the best loan products – credit cards, mortgages and personal loans, for example …
3 Ways You’re Accidentally Sabotaging Your Credit Score
February 11, 2020Shawn LaneConsumer Credit Expert Good credit is a lifelong journey. It’s not something you can work to earn and then forget about once you reach your goal. Just like you need to constantly take care of your health by eating right and exercising, your credit requires constant attention. Learning good credit habits is a great place to start. …
How to Shop for a Mortgage Without Hurting Your Credit
January 7, 2020Shawn LaneConsumer Credit Expert How to Shop for a Mortgage Without Hurting Your CreditWhether you’re buying a new home or refinancing an existing mortgage, shopping around for a good interest rate might save you money. At the very least, rate shopping can help you confirm you’re getting a good deal. But there’s an art to shopping for a mortgage …
Do Medical Bills Damage Credit Scores?
November 12, 2019Shawn LaneConsumer Credit Expert Lenders use credit scores to help predict risk. Credit scores are designed to calculate the odds that you’ll become 90 days late (or more) on any credit obligation within the next 24 months. The more likely it is that you might pay something 90 days late within that time frame, the lower your scores …
How to Add Positive Information to Your Credit Reports
October 8, 2019Shawn LaneConsumer Credit Expert It’s important to make sure the information on your three credit reports is accurate. Errors and mistakes on your credit reports can potentially hurt your credit scores and make it difficult or even impossible to qualify for new financing when you need it. But what if positive information is missing from your credit reports? Is …