ChexSystems is an association of financial institutions which develop a database of delinquent customers. The purpose of ChexSystems is to help limit fraud and ensure that only financially responsible people can open and maintain a checking account.
Member banks of the ChexSystems network (which compromises roughly 80% of all banks in the United States) report on […]
Payday Loans are short-term, secured loans that use your direct-deposit pay as a security against your debt. Unlike other types of loans, payday loans have an extremely high percentage: in some cases as high as 500%!
If you’re considering a payday loan then there are some things you should know:
In order to obtain a loan you […]
Secured debt, unlike unsecured debt, is a debt which is secured against some collateral (usually a house, although this varies). This means that in the event the debt is not paid back, the collateral can be used by the lender to recover the owed money.
In the case of loans, the item being purchased can usually […]
Unsecured debt is money that is borrowed but not secured against anything, whereas secured debt is secured against something of value. In most cases the collateral for a secured debt is usually the borrower’s house, so in the case of a default the lending institution can sell the house to recover the losses.
There are usually […]
Building a good credit score is not as difficult as it may sound. If you’re just starting off in life, then a good credit score may only be a student credit card away, or if - like me - you have hit some bumps in the road, you just need to follow a few simple […]
Debt Consolidation is a process in which multiple debts (credit cards and loans) are consolidated (or condensed) into one larger loan. Why in the world would you take on another loan when you’re already flooded in debt?
Debt consolidation allows you to:
Organize all of your credit/loan payments into one monthly bill
Lower your monthly payments, sometimes drastically
Pay […]
I’ve had Comcast High Speed Internet Access for a little over a year now, and I’m not exactly thrilled with the service; however, it’s much better than DSL and my old Time Warner connections.
Here’s my biggest problem: I live in a run-down city. The place is depressed and the city is nearly bankrupt. Since the […]
Organize all of your income, debt, expenses, and necessities into a readable format. When I first started building a better budget I dimply used an Excel spreadsheet.
Debt - Anything that must be paid off each month. This includes (but is not limited to): credit card payments, loans (mortgages, personal, cars), legal obligations (child support), and […]
I say we all get into some cars and go kick ass. Who’s with me?
Tags: kick ass
A lot of people in the United States are in debt. Most of the people in this country have at least one credit card, and many people have more than one (sometimes as high as five cards). So, it comes as no surprise that […]
A collection agency is a company that, as the name implies, collects an owned debt. These companies act as agents of the creditor and attempt to collect debts owed, either in exchange for a flat fee or a percentage of the amount owed.
There are other agencies which actually buy the account that is in debt […]
Credit Debt is a general term used for any type of credit that you’ve used and have not yet repaid. This can come from a variety of sources, including credit cards, bank loans, student loans, and even money owed to those television shopping networks.
Basically “credit debt” is everything you have not yet paid for in […]
