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Tag Archives: Credit Debt

Why Did I Receive a 1099-C From My Credit Card Issuer?

By John Ulzheimer By now you’ve probably started receiving your tax-related forms. Most of you will receive form W2, which is sent by your employer and memorializes your income earned for tax year 2014. Some of you, like me, will receive one (or several) 1099s. A 1099 is sent to people who do contract work as a non-employee. And some of you will unfortunately receive form 1099-C.   What is …Read More

Ten Reasons Credit Card Applications May be Declined

By Gail Cunningham People apply for a credit card for many different reasons. Some are new to the world of credit and just getting started, while others are hoping to expand their access to credit. Regardless of the reason, no one applies for a card hoping their application will be rejected. To improve the likelihood of approval, consumers need to understand the credit decisioning process. Each lender has different criteria …Read More

Raise Your Credit Score in 2014
in 5 Steps

By Karen Carlson Poor credit could be costing you thousands of dollars a year. If you’ve suffered from a ‘so-so’ or even poor credit score for most of your life, make a commitment to yourself to raise your credit score in 2014. 1. Face your credit history and score: Like many things in life, the first step is to admit you have a problem and face it head-on. Go to …Read More

Raise Your Credit Score in 2014 in 5 Steps

By Karen Carlson Poor credit could be costing you thousands of dollars a year. If you’ve suffered from a ‘so-so’ or even poor credit score for most of your life make a commitment to yourself to raise your credit score in 2014. 1. Face your credit history and score: Like many things in life, the first step is to admit you have a problem and face it head-on. Go to …Read More

How to Get Out of Debt

By Lauralynn Schueckler The recent recession affected the financial lives of people all over the country. The recession led to much higher rates of unemployment and underemployment. Because of this, many people needed to rely on credit cards to meet all of their financial obligations and pay for emergencies that arose. While this may have been a good short-term solution, many now find that they have an insurmountable amount of personal …Read More

Have Residency, but No Credit?

By Erica Sandberg Dear Erica, I am a permanent resident with a Social Security number, but no credit. How can I start or build credit? – Mario  Dear Mario, Almost everyone has to jump over a hurdle or two to get their very first unsecured credit card. Issuers are sensible for being discriminating — wouldn’t you be? Imagine letting a person you don’t know borrow money from you. If he or she …Read More

Credit Cards Can Be Friend or Foe
to College Students

 By Gail Cunningham While parent’s mail boxes are filling with credit card bills from summer vacations and back-to-school shopping, their college-aged child is likely receiving offers for credit cards of their own. Due to the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (CARD Act), young adults under the age of 21 applying for credit now must demonstrate the ability to pay or have a co-signer in order to …Read More

The Value of Credit Counseling in Everyday Life

By Lauralynn Schueckler Credit counseling is often an overlooked free financial tool in our busy everyday lives. We need good credit for everything these days as we transition to less and less cash in our lives. The truth is good credit is not only for financing, but it’s also essential in setting up utilities, getting a cellular phone, or even landing a job. Unfortunately, most people only really think about …Read More

How to Rebuild Credit After Bankruptcy

By Barb Miller Most people I work with are very concerned about improving their credit scores post-bankruptcy. This is a good thing since nearly all important transactions like finding a job, buying insurance, financing a car or home, or even renting an apartment may well depend on your credit score. The good news is you can have excellent credit again! But, it will take time and hard work to get …Read More

Clearing Up the Considerable Confusion
in Plastic Terminology:Prepaid Debit Cards,
Debit Cards, Secured Credit Cards, Prepaid Credit Cards, Unsecured Credit Cards, Charge Cards,
Gift Cards

By John Ulzheimer Ok, I get it…the world of financial services can be complicated and confusing. It’s hard to calculate APRs, and it’s hard to forecast interest paid on long term credit card debt. And, according to a recent survey by VantageScore Solutions and The Consumer Federation of America, consumers don’t know very much about credit scores. But nothing, and I mean nothing, has caused more confusion lately than the misuse …Read More