Delinquencies and New Debt Both Down
Delinquency rates on consumer debt is falling as fewer Americans are falling behind on their debt compared to prior to and earlier on in the current recession. But in good news for consumers and bad news for lenders and credit card companies, they are also adding less debt. Part of that can be attributed to [...]
Why it pays to pay down debt
Today at midday, the Bank of England will announce its latest decision about the base rate. For most people, the most important thing about the base rate is the impact it has on interest rates – on their mortgage and/or their savings. Looking at the base rate, The Telegraph`s personal finance editor Ian Cowie wrote [...]
Bad Debt Vs Good Debt
So what is the difference between bad debt vs good debt? Bad Debt Bad debt is anything that is incurred when you purchase it and it does nothing but accrue interest and adds no value to your life. For instance that big screen television that you got on credit last month is bad debt. Even [...]
Deciding Whether You Have Too Many Credit Cards
If you look at the number of credit cards that you have and try to decide whether you have too many credit cards do you answer may not be a simple one or one that applies to each in every person. Before you attempted to close down active credit card accounts you should know that [...]
Fast Ways You Can Restore Credit
The typical person who is trying to restore credit is someone who has either built up a history of bad financial habits, or has fallen into circumstances beyond their control, such as losing a job or suffering a medical problem. Unfortunately, lenders for car loans, mortgages or credit cards will not likely take into account [...]