Are you worried about filing a bankruptcy? You think bankruptcy can have a devastating effect on your credit report. Yes, you are right to some extent. Bankruptcy is regarded as a debt relief tool but it can affect the credit report sometimes. A bankruptcy remains on your credit report for almost 10 years and you are not allowed to file for it for another 6 years. After bankruptcy it...
Q: I read in the latest AARP magazine, it was better to just not pay your credit card bills instead of bankruptcy. Is that true? What are the consequences? I only get a little over $ 1,000 per month in Social Security, and that is my only income. I'm 76 and living in retirement homes. I am broke and can hardly use one of the things. I always want to pay my rent on time, so I'm not there...
Any people know ways to increase their credit score, but what factors actually lower your credit score? 1) Accounts that have been open less than three years. Having long term credit accounts that you consistently pay on time is an important indicator of stability. As your credit history ages, your score should increase. 2) Anytime your credit report is pulled. This is if you...
