Banks definitely provide services that help us and make life easier. Yet, we typically end up paying for these services one way or the other – typically in fees. For instance, do you need to take money from an ATM…
Continue readingThe latest data is in, and the average U.S. FICO® Score now sits at 706. Since bottoming out at 686 in October of 2009, there have been nine consecutive years of increases in the national average FICO Score. This is…
Continue readingLike getting your identity stolen isn’t bad enough. When a criminal steals your identity, he or she can also steal your good credit score. Your FICO Score is calculated using five factors from your credit score: Payment History: Have you…
Continue readingThe Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks in the U.S. and plays a primary role in monetary policy, financial supervision and the country’s payment system. Now that you know what it is…
Continue readingAchieving the status of having an excellent credit score takes a lot of time and work. It can be accomplished by practicing proven methods of good financial management – two of which include paying bills on time and keeping low…
Continue readingThe U.S. Financial Health Pulse from the Financial Health Network reports research findings on the financial health of Americans. From an overarching perspective, they categorize Americans into one of three financial tiers: Financially Vulnerable Financially Coping Financially Healthy Before moving…
Continue readingThere are lots of facts (some fun… some not so fun) when it comes to credit and credit scores. They’re good to know – not only to show off your knowledge of credit to others, but they also let you…
Continue readingAccording to Experian, “Settling a debt means that you have negotiated with the lender, and they have agreed to accept less than the full amount owed as final payment on the account.” When this occurs, the credit agencies will be…
Continue readingAlthough spending is up, that doesn’t necessarily mean that households are enjoying a positive cash flow. We’ll get to that in a minute. For now, let’s take a look at where the average household is spending their dollars (according to…
Continue readingWhen a bill isn’t paid by a consumer (i.e. credit card, medical, utility, etc.), the creditor has a process to follow. Sometimes this process includes selling the account to a debt collector or turning the account over to a collection…
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