Sold-Derogatory Debts Don't Settle A Score

Sold-Derogatory Debts Don't Settle A Score

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Sold-Derogatory Debts Don't Settle A Score
What might happen if sold-derogatory trades — credit-speak for bad debts in which consumers have charged off an account with a lender, and the lender then sold those trades to an external collection agency — were wiped from a consumer's credit score …
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7 times when bankruptcy can make sense

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7 times when bankruptcy can make sense
Common scenarios when bankruptcy should be seriously considered
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Credit explained: Understanding how to improve your credit score

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Credit explained: Understanding how to improve your credit score
If you're looking to buy a home this summer, spring is a good time to evaluate your credit score. That three digit number is one of the most important factors in qualifying for a home loan. Thursday, Brenda Miernyk, Area Sales Manager of Wells Fargo …
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5 reasons why a nearly perfect credit score's not enough

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5 reasons why a nearly perfect credit score's not enough
It is possible to have an excellent score even if you filed bankruptcy in the past. For example, you could have filed six years ago and have behaved perfectly ever since. However, some lenders might still have a rule that prohibits anyone with a …
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Worst-Case Scenario: What Does a Late Payment Do to My Credit Score?

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Worst-Case Scenario: What Does a Late Payment Do to My Credit Score?
You can go here to see what a worst-case scenario bankruptcy could do to your credit.) However, Paperno said, a consumer could see their score return to its pre-late-payment days in a few years. In a worst-case scenario, one late payment will lead to …
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Five simple tips to boost and improve your credit score

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Five simple tips to boost and improve your credit score
So much of our lives are tied to three little numbers, our credit score. Whether you're buying a car, searching for a new job or looking to buy a house, your credit score could mean the difference between success and failure. Whether you just need a …
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Obamacare Seems to Be Reducing People's Medical Debt

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Obamacare Seems to Be Reducing People's Medical Debt
Even if you lack health insurance, you'll probably be able to get treatment at a hospital in the event of a catastrophe — you're struck by a car, say. But having insurance can mean the difference between financial security and financial ruin. A new …
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Visalia ranks “bad” on credit score

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Visalia ranks “bad” on credit score
… elevated credit standing will be yours to enjoy. Odysseas Papadimitriou is CEO of the personal finance website WalletHub, which offers free credit scores, full credit reports and 24/7 credit monitoring. He previously worked as a senior director at …
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Tips for Buying a Car in Arcadia Based on Your Credit Score

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Tips for Buying a Car in Arcadia Based on Your Credit Score
This content is brought to you by Foothill Credit Union. Foothill Credit Union is a local financial institution dedicated to improving its members' financial well-being. Commuting to Pasadena or getting around L.A. isn't easy and can prove impossible …
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10 Things I Hate About Student Loans

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10 Things I Hate About Student Loans
Student loans are generally not dischargeable in bankruptcy. Most student loans do not go away with … But these loans often require parents to co-sign and tend to have higher interest rates, depending on your credit score. (You can view your credit …
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What happens if you lie on your credit card application

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What happens if you lie on your credit card application
And, of course, they take your credit score into account as well. The bank (I don't know … In another scenario, let's say you max out your credit cards, can't afford the payments, and want to file bankruptcy to have the debts discharged. If the bank …
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How Having Different Types of Credit Will Increase Your Credit Score

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How Having Different Types of Credit Will Increase Your Credit Score
FICO Score. Is FICO Still the Standard in Credit Scoring? This Easy Trick Will Improve Your Credit Score and Avoid Late Payments · How to Successfully Follow the Authorized User Credit Score Strategy · How to Improve Your Credit Score Using Your Utilities.
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Hawai'i Ranks 14th in Financially Savvy States

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Hawai'i Ranks 14th in Financially Savvy States
These metrics included annual savings account averages to personal bankruptcy rates and credit card debt as a percentage of income. Hawai'i was ranked among the states with the highest credit score at number four, after Minnesota, North Dakota, and …
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Worst-Case Scenario: What Does Bankruptcy Actually Do to My Credit Score?

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Worst-Case Scenario: What Does Bankruptcy Actually Do to My Credit Score?
It's the big, bad boogeyman of credit scores: bankruptcy. A formal declaration that you are incapable of paying off all your debts as agreed. And while taking such action could spare you from paying off all — or at least some — of the loans that put …
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3 Ways To Improve Your Credit Score

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3 Ways To Improve Your Credit Score
Move over GPA, there's another number that has an even greater effect on your lifestyle and future now that you're out in the real world—your credit score. That 3-digit number—calculated based on your credit mix, payment history and debt load—plays …
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Could A New Credit Scoring System Affect Your Ability To Borrow?

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Could A New Credit Scoring System Affect Your Ability To Borrow?
Recently I wrote about how your bankruptcy score, a rating that predicts the likelihood that you'll become insolvent, could affect your ability to borrow. This rating, just like your credit score, is created by Equifax and TransUnion and is based on …
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Unexpected Ways To Hurt Your Credit Score

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Unexpected Ways To Hurt Your Credit Score
There's a good chance you know the big line items that can tank your credit score — bankruptcy, foreclosures. But there are some other ways you may not be aware of. The exact effects will vary depending on your full credit profile but experts say you …
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Magic Number: The Ideal Credit Score For Securing A Mortgage

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Magic Number: The Ideal Credit Score For Securing A Mortgage
How to improve your credit score. Whether your score is too low to secure a mortgage or you'd rather use available funds to fix your financial situation (instead of putting it toward a larger down payment), there are steps you can take today to start …
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How to boost your credit score

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How to boost your credit score
There are many ways to boost your credit score, but prioritizing which debts to pay down first can make a difference. … And because student debt is not dischargeable in bankruptcy, your wages could be garnished if you don't pay up. The fact that you …
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Applying for a Credit Card After Bankruptcy

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Applying for a Credit Card After Bankruptcy
If a card doesn't report to at least one of the three major credit bureaus, positive activity on your account — such as making payments on time and keeping your balance low — won't improve your credit score. The more bureaus a card reports to, the …
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Your Credit Score: What It Is and Why It's So Important

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Your Credit Score: What It Is and Why It's So Important
Universities might be places of higher learning, but students certainly aren't getting an education in basic financial skills. More than half of college students can't define a credit score and many know little about maintaining or building consumer …
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31 ways you're ruining your credit

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31 ways you're ruining your credit
Choosing to avoid credit after a bankruptcy can backfire. “When you do nothing after a bankruptcy, the credit score stays low,” Kelly said. Instead, get a secured credit card — which will have a credit limit based on an amount you deposit with the …
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Under the hood of the credit-score process

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Under the hood of the credit-score process
If you're not sure, pick up a copy of "Your Credit Score: How to Fix, Improve and Protect the 3-Digit Number that Shapes Your Financial Future" (FT Press, $26.99), by personal-finance author Liz Weston, who writes the syndicated column "Money Talk." Be …
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The Color of Money: Boost your all-important credit score

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The Color of Money: Boost your all-important credit score
If you're not sure, pick up the Color of Money Book Club selection for this month, "Your Credit Score: How to Fix, Improve and Protect the 3-Digit Number that Shapes Your Financial Future" (FT Press, $26.99), by personal-finance author Liz Weston, who …
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For Older Borrowers, Being Thrifty Can Tarnish a Credit Score

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For Older Borrowers, Being Thrifty Can Tarnish a Credit Score
One factor that usually favors older people is credit score, which is based on “propensity to repay a debt, regardless of your income or assets,” said Rod Griffin, director of public education at Experian, one of the three large companies that report …
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Understanding your credit score and how to raise it

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Understanding your credit score and how to raise it
If you're not sure, pick up this month's Color of Money Book Club selection, “Your Credit Score: How to Improve the 3-Digit Number That Shapes Your Financial Future,” by personal-finance author Liz Weston, who writes the syndicated column “Money Talk …
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In Detroit, people are urged to get a second mortgage when buying a house

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In Detroit, people are urged to get a second mortgage when buying a house
The city of Detroit, which filed for bankruptcy in 2013, has been desperate to revitalize neighborhoods and increase property-tax revenue. The latest problem, said Laurie Goodman, director of the Housing Finance Policy Center, a research group based in …
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