Collection Industry News

FEBRUARY 21, 2022

If you’re just making the minimum payments on your credit cards, it may be worthwhile to consider one of these debt repayment strategies. Americans are racking up credit card debt at a record-setting pace, according to the Federal Reserve Bank of New York. Outstanding credit card debt is still about 7.7%

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Credit Corp

JANUARY 24, 2024

A personal loan enables you to borrow a lump sum of money and repay it in fixed installments. While personal loans can be a useful tool, there are important factors to consider before taking one out. According to recent statistics , millions of Americans have personal loan debt, with the average loan amount being $16,931.

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Better Credit Blog

AUGUST 9, 2021

Having several outstanding loans is even worse, as it can be difficult to keep track of payments and due dates, which makes it easier to miss a payment and thus damage your score even further. If you owe multiple outstanding debts, it might be time to consider looking into a debt consolidation loan.

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Better Credit Blog

AUGUST 9, 2021

Having several outstanding loans is even worse, as it can be difficult to keep track of payments and due dates, which makes it easier to miss a payment and thus damage your score even further. If you owe multiple outstanding debts, it might be time to consider looking into a debt consolidation loan.

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Credit Corp

OCTOBER 25, 2023

Debt consolidation allows you to take multiple debts and combine them into one, and you can do this with your credit card debt. Doing this makes managing the debt a little easier, and you may be able to get a lower interest rate. Table of Contents: What Is Credit Card Consolidation?

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Credit Corp

MARCH 16, 2021

Is your credit card debt behaving like an unruly boy and has gone completely out of your control? Are you spending sleepless nights wondering how to get yourself out of a debt spiral? Or perhaps it’s a burgeoning credit card debt? How to Control Your Debt Yourself. Look Where You Are.

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Credit Corp

JANUARY 9, 2025

While many people have at least some credit card debt, once it gets too high, it can be overwhelming and anxiety-inducing. Recent credit card debt statistics show the average American household has over $9,000 in credit card debt.

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Better Credit Blog

APRIL 1, 2022

If you need money now, an online personal loan can be a fast and easy way to secure funds. Whether they’re for debt consolidation, a home improvement project, or other expenses, these loans often come with low-interest rates and flexible repayment options. Finding out what you can use your loan for.

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Debt Guru

JULY 19, 2020

It works by getting one new loan and using that to pay off multiple existing creditors. You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. Don’t overpay for convenience.

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Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Credit Corp

JANUARY 7, 2021

Unfortunately, holiday credit card debt lingers far longer than leftover turkey. If you don’t—or can’t—repay holiday debt promptly, it’ll accumulate over time. . >> Try these debt management apps. Go for Debt Consolidation. Go for a loan with a low interest. more than they did in 2018.

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Collection Industry News

APRIL 13, 2024

But now finances have been stretched thin by rising costs of essentials like food, housing and energy, so many people have had no choice but to turn to borrowing products, like credit cards, to help cover their costs. In turn, getting out of high-interest credit card debt needs to be a top priority for most people.

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Better Credit Blog

APRIL 11, 2022

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In other cases, such as credit card debt, it’s seen as a hardship and can have a negative impact.

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Credit Corp

NOVEMBER 15, 2024

Covering your medical bills and expenses in retirement may mean you need to apply for a new credit card, put the bills on a current card or even take out a personal loan. Any of these options will save you money in interest rates if you have a better credit score.

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Collection Industry News

JUNE 13, 2024

Credit card debt hit a record high of $930 billion for Americans in the final quarter of 2019, according to the latest data from the Federal Reserve Bank of New York released on Feb. That’s a $46 billion increase in credit card balances from the prior quarter and up an alarming $57 billion over the same period in 2018.

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Credit Corp

JULY 26, 2021

If no one is able to pay off the loan, the lender may repossess it. Credit Card Debt . Joint credit card debt passes straight to the other borrower. Credit cards with authorized users on them are different, however—unlike cosigners, authorized users aren’t responsible for debts.

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Credit Corp

JULY 25, 2023

You can use credit cards to pay off different loan types, providing flexibility and potential benefits. Medical Bills: Many healthcare providers accept credit card payments for medical expenses, allowing you to pay off medical bills over time. Can I Use a Credit Card to Pay Off Payday Loans?

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Credit Corp

JULY 20, 2020

A charged off debt can lead to harassing phone calls, garnished wages, and a major drop in your credit score. According to the Federal Reserve, consumer loans had a charge-off rate of around 2.3% Credit card debt was more likely to be charged off than other forms of debt. Consolidate your debt.

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Titan Consulting

MAY 17, 2020

As lenders acknowledge the need for alternative credit data, companies are finding innovative ways to track non-traditional payments without requiring consumers to borrow money or use a credit card. We work with consumers seeking debt consolidation loans, or who may be considering options like debt negotiation or bankruptcy.

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Credit Corp

JANUARY 8, 2025

In addition to learning how paying your balance affects your credit score, youll also learn the best ways to pay down your credit card debt. Once you have a better understanding of how credit scores are calculated, you can then use strategies to build credit with your credit card.

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Credit Corp

DECEMBER 1, 2020

According to numbers for the 2018 holiday shopping season, American shoppers incurred an average debt of just over $1,000. And not everyone could pay that debt off quickly , leading to expensive, long-term credit card debt for some. But holiday shopping debt isn’t the only financial burden people face.

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Titan Consulting

MAY 24, 2020

Credit bureaus measure variables related to your debt like the total amount of your debt, if you make your debt payments on time, how long you have been paying on debt obligations and how much debt you are servicing relative to how much potential debt has been extended to you.

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Debt Free Colorado

DECEMBER 9, 2021

Without having to repay it later, you may immediately begin rebuilding your credit. . If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . medical debt .

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Sawin & Shea

AUGUST 9, 2023

Credit card debt is a huge reason people end up filing for bankruptcy. The incredibly high interest rates alone plus the ease of procuring cards contribute to what can be a vicious cycle of maxing out limits, paying only minimums, and applying for more cards. But can you file for bankruptcy on credit cards only ?

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Credit Corp

FEBRUARY 13, 2025

Check out these 17 questions before you sign up for any debt settlement service. In This Piece What Is Debt Settlement? 17 Questions to Ask a Debt Consolidation Company Debt Consolidation FAQ Research Your Debt Resolution Options What Is Debt Settlement? What Is the Risk of Debt Consolidation?

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Debt Recoveries

OCTOBER 24, 2021

Whether you’re carrying credit card debt, personal loans, or student loans, one of the best ways to pay them down sooner is to make more than the minimum monthly payment. Doing so will not only help you save on interest throughout the life of your loan, but it will also speed up the payoff process.

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Sawin & Shea

MAY 29, 2024

Here are a few strategies that will minimize your risk of damaging personal finance ramifications from future rate hikes: Manage credit card debt: Prioritize paying down debt aggressively or explore options like balance transfers or debt consolidation to mitigate increased interest costs before rates rise.

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Titan Consulting

MAY 10, 2020

Other databases track rent payments, payday or short-term loans, and online personal loans. Combining these payment records with bank account data, asset ownership, and public records, the FICO XD produces a reliable credit score. Which Lenders Use the FICO XD. Contact us today at (888) 488-4517 or Apply Online now.

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Credit Corp

MAY 3, 2023

Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. But unsecured, nonpriority debts, such as medical bills and credit card debt, are only partially paid. That can take three to five years.

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Titan Consulting

JULY 8, 2020

Banks operate conservatively and evaluate consumer risk for all credit decisions, including home, car, personal loans, and credit cards. Titan Consulting Group helps consumers evaluate various debt relief options and choose the right program that best fits their short-term and long-term financial goals.

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Sawin & Shea

MAY 2, 2024

If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. Dischargeable debts are those that can be eliminated through bankruptcy.

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