Credit Karma: Free Credit Reports

Credit Karma has just gotten better! Not only do they offer 100% free credit scores, but they now offer free credit reports. This is great news! Now you can log into your Credit Karma account at any time to review your most recent TransUnion credit report.

This is a fully detailed report that will give you enough information to see exactly where you stand at any time. This means no more waiting for your one free credit report that you’re entitled to each year. No more paying for additional credit reports at any other time beyond your free annual report.

I’ve been using Credit Karma for over 2 years and as good as it was before this month, it just got a whole lot better. I highly recommend Credit Karma for free credit scores and reports. Sign up requires no credit card information and just takes a few minutes. Sign up today!

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The End of Payday Loans?

It’s no secret that some states have deemed payday loans to be illegal. Other states allow payday loans but with loan limitation limits. California regulations for instance, only allow a person to borrow up to $300 maximum per payday. Other states have much higher limits. I was witness to an individual who was able to borrow $1400 until his next payday.

It is my personal opinion that the days of payday loans are numbered. Just this past weekend, a friend of mine went to pay back his loan of $400 with the intention of borrowing the money right back. The employee didn’t tell him that they were discontinuing payday loans as of that very day until after he handed over his $400.

Needless to say, he was really counting on that money to pay bills and other monthly expenses. The shock on his face when he found out that he wouldn’t be getting $400 back must have been priceless! He was informed by the employee that the company was losing way too much money due to borrowers refusing to pay back loans. Go figure… It’s a miracle they’ve been in business this long.

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What is a Good Credit Score?

If you’re like most people, you have no idea what your current credit score is. You’re probably even more in the dark when it comes to knowing what’s considered by most lenders to be a good credit score. You’re not alone.

Credit scores can be very confusing and can range anywhere from 300 to 850. An average credit score depends on who you ask, but as a general rule, a score of 650 will get you in the average credit score range. 700 and above will get you approved just about anywhere and at a good interest rate.

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My Shocking Credit Card Debt!

From all that I have written about credit and finance over the past year since starting my blog, you’d think that I was in debt up to my eyeballs and it certainly feels like it at times.

I’ve grown so accustomed to being in debt that even I assumed that my debt was much greater than it was until I decided to stop and take a look at just how much I owed in overall credit card debt. What I found was shocking to say the least.

To my surprise, I found that my total credit card debt only amounted to about $1,600.00. I could not believe it. I’d been in debt for so long that I never stopped to realize just how little cash I actually owed.

Sure, I have other expenses such as a school loan and tax debt but the school loan balance is less than $1,000.00 and in good standing and the taxes owed, currently do not affect my credit score.

Even though my credit card balances are low, my cards are pretty much maxed out, which lowers my credit score due to charging over 30 percent of my overall available credit. If I pay my credit cards down to a zero balance, I’m pretty sure that my score will increase by at least 50 points!

A simple 50 point jump can be a great help when it comes time to finance that new car!

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New Beginnings

There comes a time in everyone’s life where a new beginning is needed. A time to take a step back, relax and gather ourselves before moving forward. The same applies when it comes to credit rebuilding.

As a general rule, credit rebuilding is a process. There’s no quick fix to getting back on track. Sure, there are reputable credit repair companies at your disposal but the repair process still takes a bit of time.

Your credit didn’t get damaged overnight, nor will it be repaired overnight. All you can do is be diligent in paying your bills on time and just let the process run its course.

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Bills or Beer Money?

Bills or beer money? Ahh… that is the question. Well for me, that’s a no-brainer. Beer wins every time, right? No, not really. What I mean is that anyone who knows me, knows that I absolutely love my light beer! Just not enough to choose it over repaying my financial obligations.

As I’ve stated many times before, I give bill collectors a hard time for breaking credit collection laws all the time but I would never suggest a person not pay their bills. This blog is designed to help people navigate through the madness that is the debt collection industry.

I offer advice on how to handle illegal debt collection practices from the worst of the worst debt collectors. This includes teaching consumers how to stand up for themselves and to not be intimidated by insanely bogus threats of being arrested at your home or place of employment.

Whatever questions you may have relating to credit and collection I will most likely have an answer for, since I have seen and heard it all… but if you ask me if you should buy beer or pay your bills, I would highly recommend the latter. Just check in with me first before negotiating any payments.

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Dancing with the Devil

When you make a deal with a creditor, for all intents and purposes, you are making a deal with the devil… Figuratively speaking, of course. Purchases made on sheer impulse and without consideration or contemplation play right into the devil’s hands.

You see, that’s how the devil works. He draws you in by dangling material items before you and then tricks you into believing you can afford them when he knows good and damn well you can’t. You know it too but you convince yourself that you’ll find a way.

The next thing you know, you find yourself falling way behind on payments with the devil knocking on your door looking to cash in on the deal you made. He doesn’t care about your sick mother or that your car broke down on the way to work. He’s coming to collect and will do so by any means necessary.

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