Financial Trend Blog

Learn some tips on how to establish credit after bankruptcy.

Your credit report after a bankruptcy will look like a bomb was dropped on it. Your credit score report will be littered with all kinds of derogatory information. Depending on what type of bankruptcy you filed will determine how long it will take to re-establish your credit. The two most common bankruptcies are Chapter 7 and Chapter 13. With the new bankruptcy law, more people will be forced to file Chapter 13. Here are the differences.

How a educated consumer saves money.

A consumer armed with their 3-1 credit report will save more money than one whom does not have any idea what is on it. Creditors love an uneducated consumer when it comes to borrowing money. Did you know a bank can charge a rate between 1% to 4% difference depending on how aware you are of the market and your creditworthiness? They are in the business of making money just like any other company. This type of difference can be the same for any type of loan, insurance, and even credit cards. If you are walking out there with credit report blinders on, I guarantee that you are paying too much on rates and terms.

Thought utility bills would not affect your credit score ? Think again.

Your credit score report can be affect by more than your available credit history. We talk about how credit cards, mortgages, car loans, and any type of loan that reports to all 3 credit bureaus will affect your credit score. We don’t always talk about utility companies and how they can have a negative impact on your credit report. Here are utility companies I like to consider non-creditors. In other words these companies don’t give you a line credit, they just provide a service.

Utility companies

Quick tips for improving fico score.

Your credit score is everything these days. Maybe you are just one of those individuals that would rather not know what is on your credit report. Let’s assume you just got laid off, and now you have to find a job. Guess what employers are doing now, they are pulling your credit report to determine your risk. Typically people with good credit are not going to steal; they seem to have their life in order, etc……according to corporate companies. So if you have had some bumps and bruises on your credit report this is the time to get a recent copy of your free credit score report and start working on your credit. Here are some pointers on what is needed to increase your FICO score.