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Credit Counseling

#AskanExpert: Why is a Home Equity Loan so Hard to Get?

Q. We’ve used our credit cards too much and gotten ourselves into a stressful situation. We make a decent income, but the monthly payments are putting financial strain on our budget. We would like to get a home equity loan to pay off all these cards and just have one payment, but we do not qualify for a new loan due to our debt-to-income ratio. Not too long ago, my …Read More

#AskanExpert: What Can I Do If My Credit Card Company is Suing Me?

Q:  I have credit card debt and 2 personal loans. I have gone through financial hardship and have not been able to pay. Today I got served by court papers where a credit card company is suing me to get their money. I have never gone through this before and I am overwhelmed. I don’t know what to do. I don’t have the money to pay up front. What can …Read More

JOIN OUR #NFCCtips TWITTER PARTY ON Thursday, JULY 26TH AT 3PM ET FOR A CHANCE TO WIN PRIZES!

Follow #NFCCtips as we discuss Credit Counseling 101!  Make plans to join our #NFCCtips Twitter Chat on Thursday, July 26th at 3pm EDT as we discuss Credit Counseling 101! There will be 3 chances to win an Amazon gift card!  1-$75 Amazon gift card 2-$50 Amazon gift card 3-$25 Amazon gift card Use #NFCCtips to participate. For an easy way to keep track of the conversation, try using our tchat.io chatroom. Questions we’ll discuss: Q1: …Read More

The Benefits of Credit Counseling

NFCC-certified consumer credit counselors are experts that can tailor confidential programs to meet the specific financial needs that you may be facing. They are equipped to help you with an array of financial issues,whether you need help paying off debt, managing your student loans or help understanding your specific financial situation. They are here to help so you can get on the road to financial freedom. Services available at our …Read More

When Should You Consolidate Credit Card Debt?

The Reality of Using Credit Cards Between card designs, rewards programs, and one-step purchasing, it can be easy to become credit card complacent, so comfortable swiping for everything that you start to overlook the fact that credit cards are a form of debt. Every time you use your credit card, you borrow the money for each purchase from the issuing bank — and you are responsible for paying that money …Read More

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

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

Ask An Expert: I’m struggling to make payments on my student loan. I have all federal and Perkins loans. Should I consolidate them to get lower interest?

A: Dear reader, consolidating your federal student loans could be an option to help you manage your payments and potentially avoid default. However, combining your loans may help you for other reasons that do not necessarily include lowering your interest rates. If you are thinking about consolidation, you can start by looking into Direct Consolidation Loans. This type of loan offers a consolidation option at no cost to you through …Read More

The Debt-To-Income Ratio Explained

Dear Kim, I am considering buying my first home. I have been doing some research and keep hearing about debt to income ratio. What exactly is the debt-to-income ratio and how does it affect my mortgage application?   Dear Reader,   The debt- to- income ratio, or DTI, is a ratio that lenders use to determine how much of your monthly income is being used to pay your debt.  There are …Read More