What to do to Maintain Good Credit

Today, far too many people rely on their credit cards in order to support their daily habits. It is all too common for people living their whole life on a line of credit. This can work fine for a while, but it comes at the expense of having to give up almost all of your paycheck just to keep the credit pipe flowing. Continue reading »

Bankruptcy or Debt Consolidation, What to Do?

People suffering from massive credit card debt have contemplated whether they should file for bankruptcy or get a debt consolidation loan for years. The short answer is, if you can get the loan, do that.

Yeah bankruptcy sounds nice. You don’t owe anybody anything afterwards, though you may have to liquidate some of your assets. The problem is the huge black mark this leaves on your credit report. This is a black mark that never goes away. The seven-year rule you always hear about will not help. Continue reading »

Credit Card Reality

As Thomas Jefferson said, “never spend your money before you have it.” Sadly, credit cards have become a necessity as opposed to the luxury they are supposed to be. The reality is a lot of us use our credit cards to impulsively buys things we want but do not need. The problem comes in the lean times, and you find your interest rate skyrocketing because you made a late payment. Continue reading »