When many people first hit the financial streets, one of the first things they do is apply for credit cards. Marketing and advertising can be blamed for the perception that without a credit card an individual is going to be locked out of many of life’s pleasures and it usually does not take long for [...]

It may have felt good when all of those credit card approvals started appearing your mailbox and when the local department stores granted you one of their credit cards. It all seemed to come together right after you bought that new house and a second car and everything in your life seemed to be going [...]

Do you feel like you’re in an endless cycle of debt? Want to break out? You’re not alone. Millions of Americans – even those that earn big paychecks – struggle with debt. There’s no easy solution, but here are a few simple tips to help you get started: 1. Face it and take charge. Taking [...]

Use this calculator to determine how long it will take you to payoff your credit cards if you only make the minimum payments. Enter your credit card information below and press “View Report” to see your payoff details. Definitions Balance Your current balance on your credit card. Interest rates The average annual percentage rate you [...]

Just as Americans find themselves increasingly indebted to credit card companies and payday lenders, interest rates have begun to rise and housing values have gone the other way. Adjustable rate mortgages have “reset,” leaving millions of Americans with higher mortgage payments than they ever intended, and to make matters worse, even car loans have been [...]

The two dominant myths about credit counseling and debt management plans are that (1) they are magic bullets to eliminate your debt, without exception, for pennies on the dollar; and (2) they are rip-off operations that will charge you onerous fees, take your money and run, leaving you in worse shape than you were before. [...]

In the broad sense, “credit counseling” can refer to any of the educational or debt relief services provided by a credit counseling service. Obviously, taking a voluntary class in budget management will have no direct effect on your credit – although it could help you to improve your credit score if you implement what you [...]

What is credit counseling, and how do you know if it’s right for you? Examine your financial situation. Do you frequently miss monthly payments on at least one of your credit cards or other debts? Do you have several credit cards which are all close to maxed out? Do you have a credit card that’s [...]