Credit Health

Ever Wondered How Long Does Bankruptcy Stay on Your Credit Report? Georgia ranked among the five lowest average credit scores in the United States. With the average score just 654, compared to a national average of 700, Georgians have more than a little room for improvement in credit scores. Sometimes, debts become overwhelming and bankruptcy seems the only option, but many fear that it will irreparably damage their credit score. However, this is not entirely true. If you are wondering how long does bankruptcy stay on your credit report, we've got answers. Credit Score Impact It is true that filing for [...]

Tips for Using a Credit Card Repayment Calculator The minimum payment for credit card debts is calculated based on a percentage of your entire current balance. Issuers of credit cards also typically set a limit for the minimum. While your minimum payment may drop as you pay your balance, thanks to compounding interest, you will likely pay on your card for a very long time if you choose to pay the minimum payment. When you carry a large, fluctuating balance on your credit card, figuring the minimum payment may feel like a guessing game. Often times, however, determining your minimum payment [...]

Should you Take a Loan Out to Pay Off Credit Cards? If you are wanting to have better control of your finances or are tinkering with the idea of bankruptcy, you have probably noticed the advertisements for debt consolidation. However, debt consolidation may not be the right option for everyone. Learn more about using debt consolidation to pay off credit cards. If you have not heard of debt consolidation, it is when someone gets a single loan in order to pay off several smaller loans. This leaves the borrower with one single payment each month rather than multiple payments. The idea [...]

How Filing Bankruptcy Will Impact Your Credit Score If you are considering filing bankruptcy, you likely have a lot on your mind. One of the questions is likely how bankruptcy will impact your credit. Fear of being unable to qualify for a future home loan or other forms of credit is the number one hesitation of consumers considering bankruptcy. The hard truth is that bankruptcy will impact your credit, but you can recover and qualify for the life you want. Immediate Credit Impact The good news is that a bankruptcy will either clear your debts or set you up on a [...]

How to Get Help for Credit Card Debt Georgians carry the seventh heaviest debt burden in the nation. With debt outpacing income, it is easy to become overwhelmed by credit card debt. It is no surprise, then, that bankruptcy filings in the south have remained steady, or even climbed slightly, as the rest of the nation benefits from a stronger economy. Dealing with Credit Card Debt When financial pressures and high-interest rates make credit card debt impossible to pay off, you may not know where to turn. You have options, though, and an experienced attorney can help you to evaluate those [...]

Reconstructing Credit Post Bankruptcy Bankruptcy may lead to a considerable decline in one's credit score. In several cases, however, these credit numbers could be at rock-bottom, thanks to credit card debt non-payment and missed payments on a mortgage. Bankruptcy-filing could actually result in credit score improvements since a majority of the entire unsecured loan would be negated, and discharging the loans again during bankruptcy won't be a possibility for several years. It's good, either way, to begin rebuilding the credit score quickly post-filing bankruptcy. Rebuilding the score is a demonstration of your ability to responsibly handle credit, your ability to promptly [...]