How to Talk with Your Teens about Credit

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It’s not at all uncommon for teenagers to receive credit card offers in the mail. Are your children prepared for this? Do they know what to do with these offers? Do they understand how credit works? According to Consumer Action, it’s up to you to teach them: “Parents are usually the best people to teach their kids about credit, and since even young children can use credit cards, it’s never too early to begin this education.” In many families, if the parents don’t take the time to teach their kids about credit, those kids may end up making naïve choices […] Read more »

How Delinquency and a Debt Settlement Program Can Affect the APR on Your Credit Card (Part 2)

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In part one of this two-part post, we examined APRs of current and delinquent credit card accounts under a few conditions. From good standing to charge-off and collection situations, creditors may treat account APRs differently, but a few things can be applied across the board. Here is a more in-depth look at APRs under debt settlement programs. The following assumes that you haven’t been paying your unsecured creditors and that a debt settlement program is a viable option.   It also assumes that your delinquency isn’t recent and that a debt management plan isn’t a viable option.   If you enter into […] Read more »

How Delinquency and a Debt Settlement Program Can Affect the APR on Your Credit Card (Part 1)

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A selling point, deal breaker, or the cost of securing credit — the annual percentage rate usually gives you a standard for comparing interest and fees from different lenders. However, when you’re initially issued a credit card or dealing with debt that is piling up, the APR is going to be very much based on the individual bank with which you’re dealing. Each and every lender tends to have unique strategies in pricing APR. However, when it comes to factors that generally affect APR, one thing creditors look at in evaluation is the credit-worthiness of the potential cardholder.  As a […] Read more »

Debt Relief Firms: Why Use One and How to Pick a Good One

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If you’re currently in debt and are considering working with a debt relief firm, you’re in good company. Many people just like you are turning to debt relief firms to help them create and follow a plan for freeing themselves from debt. But why would you opt to work with a debt relief firm versus trying to attack your debt on your own? And if you choose to work with a debt relief firm, how can you find one that will do a good job? Let’s take a moment to answer these questions and more. A Guide for Your Journey […] Read more »

What Options Do You Have When You’re Buried In Debt?

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Editors Note:  Today’s post is a guest post from Bob Miller, one of my friends over at CareOne Services, Inc.  Hope you enjoy his expert advice and perspective on debt! Do you find yourself buried in debt? Does it feel like all of your income is going toward paying off credit cards? Does it seem like there’s no way you can dig yourself out of this financial pit of despair? Are you tired of the constant collection calls? Do you just want it all to STOP? You’re not alone. Millions of people struggle to manage their debt. In fact, a […] Read more »