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Tag Archives: NFCC

Ask An Expert: What is a credit report and how do I read it?

Dear reader, we all know that credit reports are important. But not many people know what reports look like or how to read the information on them. Understanding a credit report is easier than it seems if you know what to expect when you review your report. Your credit reports are generated by the credit bureaus or consumer reporting agencies, each containing detailed data about your credit behavior. This data …Read More

Ask An Expert: What are the credit bureaus?

The credit bureaus are agencies that collect, keep, and maintain consumer’s financial information. They also share and distribute this information in the form of credit reports. There are several credit bureaus or consumer reporting agencies in the U.S., but the most well-known are Equifax, Experian, and TransUnion. These agencies collect and receive information from credit card companies, lenders, collection agencies, and other businesses who have pre-arranged business relations with them. …Read More

3 Ways a New Credit Card Can Help Rebuild Your Credit

For those with a tarnished credit history, applying for a new credit card might seem questionable. After all, that card you opened and maxed out in college is what caused your credit score to start going south in the first place. However, it’s not so cut and dry. What if I told you that opening a new credit card might actually improve your credit score? The difference between now and …Read More

Ask An Expert: How do I remove negative remarks on my credit report?

A: Dear reader, removing negative information from your credit report could be a good strategy to boost your score and improve your credit history. Negative data can reflect past financial mistakes you’ve made (like paying your credit cards consistently late) or they can be errors made by the credit bureaus or the creditors reporting to the bureaus. These errors might include having other people’s account reported on your file or …Read More

Financial Goal Setting for Military Families

It’s hard to make a plan for your finances when you don’t know where you’re going. That is why it’s important to set financial goals. It’s even more important when you’re in the military because with military life comes lots of transition. When you’re in the constant state of transition, it makes it difficult to plan for anything let alone your money. Taking the time to set your financial goals …Read More

Ask An Expert: When is it a good idea to seek a personal loan or balance transfer to take pay off a substantial balance on a credit card?

A: Dear reader, it’s very common for people to seek personal loans or balance transfers to pay off their credit cards when they feel overwhelmed with their debt or when it becomes difficult to make the monthly payments. Whenever you feel like that, it’s a good idea to look for debt repayment strategies immediately. If you are finding yourself in a similar situation, I recommend that before you move your …Read More

First-Time Home Buyer Tips

So you and you’ve finally decided to take that next step. You’ve got a steady job, saved up some money and are ready to start a family. You’re ready to buy a home. You’ve picked out the city you want to live in and are ready to finally make that purchase. But before you do, take these first-time home buyer tips into consideration before you sign the dotted line. Is …Read More

Ask An Expert: Should I Withdraw Money From My 401(k) to Pay Off Debt?

Dear reader, Paying off your debts with your 401(k) is not as practical and beneficial as it sounds, especially when you may have other avenues available to manage and eliminate your debt. If you are younger than 59 ½ when you withdraw money from your 401(k), you will be hit with a 10 % upfront early withdrawal fee and you will have to pay income tax on the amount you …Read More

The Different Chapters of Bankruptcy Explained

Most people in the United States are familiar with the term bankruptcy. Bankruptcy, handled in the federal courts, can help a person get rid of any debt they have or make a plan to repay it. However, can you tell the differences between each of the different chapters of bankruptcy? There are six chapters of bankruptcy in the United States, Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13 …Read More

NFCC Welcomes New MemberTo Credit Counseling Network

By Gail Cunningham The NFCC is pleased to announce that American Financial Solutions (AFS) has joined the NFCC network of nonprofit credit counseling agencies.  “The NFCC is proud to welcome American Financial Solutions as our newest member,” said Susan C. Keating, president and CEO of the NFCC. “By enhancing the national footprint of our credit counseling network, consumers now have even more opportunities to take advantage of quality counseling and find …Read More