How Can a DMP Lower My Interest Rate?
Wondering how a debt management plan works? Its easier than you think. Your credit card company won’t tell you that you can get a lower interest rate in a debt management plan because they want you to pay the full balance back at higher interest rates. If [...]
People can easily be confused on the differences between a debt management plan and debt settlement. A debt management? plan, (dmp), or credit counseling, which is simply paying back your full balance at lower interest rates that are pre-negotiated.? Debt settlement is for people who are behind on their payments and want to settle for [...]
How Is My Credit Score Calculated By A Fico Score?
Understanding how a credit score is calculated is key to understanding the debt management and debt settlement process.
Your credit score is a number generated by a mathematical algorithm — a formula — based on information in your credit report, compared to information on hundreds [...]
How To Lower Interest Rates On Credit Cards
Depending upon your credit, you might be a phonecall away from receiving lower interest rates. So many of us hate to call a customer service department and be placed on hold, but its well worth the wait. After all, its your money isn’t it?
Most consumers simply don’t know [...]
How low can a credit score be?
This is a popular question. When I was a mortgage broker I pulled a credit on a woman who had no credit. How was this possible? She simply didn’t have at least 3 accounts open longer than a year, thus receiving a score of zero.
Equifax, TransUnion, and Experian are [...]
What are the new rules and how can they affect you?
Here are some of the new credit card rules which will come into effect on July 2010 to find out how they will affect you.
Disclosure of rates and fees: Under the new rules, credit card contracts should include a summary of the rates and fees [...]
