Why Medical Collections Need an Overhaul

Managing Debt

Why Medical Collections Need an Overhaul

Why Medical Collections Need an Overhaul

A good credit history takes years to build, and can be instantly destroyed when even a modest medical co-payment bill is sent to collection. Currently, American consumers have no effective redress if a medical bill is sent to collection and reported to the credit bureaus. Even if the bill sent to collection is promptly paid,… Read More

This Week in Credit News: Stimulus & Scandal

Personal Finance

This Week in Credit News: Stimulus & Scandal

This Week in Credit News: Stimulus & Scandal

The biggest news this week comes on the heels of a New York Times story about credit card companies sending consumers’ balances to collections agencies and suing borrowers despite not properly vetting the cases. It’s the new robo-signing scandal and it’s affecting a large group of Americans. Robo-Testimony: The Newest Credit Scandal Thought robo-signing was relegated… Read More

Don’t Let a Car Accident Wreck Your Credit

Credit Score

Don’t Let a Car Accident Wreck Your Credit

Don’t Let a Car Accident Wreck Your Credit

An auto crash may do more than just wreck your vehicle. It may cause long-term damage to your credit reports and scores as well. We’ve heard from many accident victims over the years who wound up with medical bills in collections while they waited for insurance companies to sort out who would pay what. One… Read More

Help! My Boyfriend is Ruining My Credit

Credit Score

Help! My Boyfriend is Ruining My Credit

Help! My Boyfriend is Ruining My Credit

What happens when you co-sign a loan for your mate, and they fall behind on their payments, ruining not only their credit but yours, too? Credit.com reader “Jenna” blames her decision several years ago to co-sign on a car loan with her boyfriend on being “young and dumb.” Now she’s worried — understandably — that… Read More

Protests in Alabama Over Payday Lenders

Personal Loans

Protests in Alabama Over Payday Lenders

Protests in Alabama Over Payday Lenders

Many consumers and advocacy groups have spoken out against a kind of credit known as payday lending, which they contend can be predatory and unfairly target low-income borrowers. Now, in Birmingham, Ala., displeasure over this type of lending is becoming more vocal and visible, according to a report from the Birmingham News. A demonstration sponsored… Read More

Federal Reserve Study Says Lending Remains Too Tight

Personal Finance

Federal Reserve Study Says Lending Remains Too Tight

Federal Reserve Study Says Lending Remains Too Tight

These days, many consumers are finding themselves on more solid financial ground than they’ve been on in years, and as a result, many may want to begin borrowing again. However, it’s not that simple, particularly if they’ve defaulted on loans in the past. Lending restrictions have remained rather tight since the end of the recession,… Read More

What to Do If Your Credit Card Gets Rejected

Credit Cards

What to Do If Your Credit Card Gets Rejected

What to Do If Your Credit Card Gets Rejected

It’s a classic uncomfortable situation: At the end of a successful date or dinner out with family, you hand your credit card to your waiter, only for him to come back a few minutes later with a pained look on his face. “I’m afraid your card’s been rejected,” he says. “Do you have another one?”… Read More

Who Doesn’t Have A Credit Score? (Hint: It Could Be You)

Credit 101

Who Doesn’t Have A Credit Score? (Hint: It Could Be You)

Who Doesn’t Have A Credit Score? (Hint: It Could Be You)

For numerous reasons unrelated to their ability to pay back loans, millions of creditworthy borrowers find themselves unscoreable under traditional credit scoring models. Yet at the same time, lenders are seeking new pools of creditworthy borrowers. With such a win-win proposition, it’s amazing we are still discussing how to solve this challenge. A basic requirement… Read More

College Students – 5 Tips to Protect Your First Credit Card

Students

College Students – 5 Tips to Protect Your First Credit Card

College Students – 5 Tips to Protect Your First Credit Card

Much has been written about the confounding (and compounding) mistakes made by college students and their handling of credit cards, so perhaps it’s best to instead focus on what students can do with their newfound credit to make the best four years of their lives even better. Here are 5 safe things college students should… Read More

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