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5 Concrete Ways That Your Credit Score
Impacts Your Life

5 Concrete Ways That Your Credit Score Impacts Your Life

A credit score is a three-digit number used by financial institutions to evaluate your creditworthiness, or the likelihood that you'll pay back your debts. When a consumer applies for a credit card, mortgage, student loan, auto loan or other line of credit, a lender usually pulls a credit score to help the lender decide whether or not to extend credit. This can impact your life and the choices you make by

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“Our incomes are like our shoes; if too small, they gall and pinch us; but if too large, they cause us to stumble and to trip."

-John Locke.


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Escape the Cycle of Payday loans

Escape the Cycle of Payday loans

Each and every year, more than 12 million Americans borrow money from payday lenders. Sadly, the majority of people who resort to these types of loans are already in financial trouble of some sort. With annual interest rates of oftentimes averaging more than 400%, it’s easy to see how these debts can destroy lives and create seemingly inescapable financial sinkholes. Payday lenders get away with this because they do not treat your loan as a loan. Rather, it is an advance, and you pay a fee, not interest. The biggest problem with payday loans is that they are basically interest only loans. Every time you make a payment, your balance does not go down. So if you’ve fallen victim to the vicious cycle of payday loans, there are solutions out there, such as

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“Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones."

-Benjamin Franklin.


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“I go on the principle that a public debt is a public curse."

-James Madison.


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The Student Debt Crisis

How to Handle Phone Calls from Debt Collectors

According to an article published recently in MarketWatch, nearly 70% of bachelor’s degree recipients leave school with debt. What can be done? First of all, students should take every possible step to reduce the amount of debt that they take on over the course of their studies--this means applying to scholarships, considering beginning at a community college, and possibly . .

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“The best form of government is that which is most likely to prevent the greatest sum of evil."

-James Monroe.


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“What spectacle can be more edifying or more seasonable, than that of Liberty and Learning"

-James Madison.


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“If we look to the history of other nations, ancient or modern, we find no example of a growth so rapid, so gigantic, of a people so prosperous and happy."

-James Monroe.


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Do You Owe Money to the IRS?

Owing money to the IRS can be scary--after all, unlike other lenders, the IRS has a great deal of authority when it comes to prosecuting, garnishing, and even jailing those who do not make an effort to pay their debt. However, it is worth point out that the key phrase in that sentence is “who do NOT make an effort.” Contrary to popular perception, the IRS is far more forgiving than one might imagine. In fact, their approach is not all that different from “regular” creditors: they are interested in getting paid whatever amount they can be paid, at whatever pace may be possible.

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“Liberty may be endangered by the abuse of liberty, but also by the abuse of power."

-James Madison.


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Are Minimum Payments an Effective Debt-Relief Strategy?

If you have found yourself deep in debt, you know what a destructive force excessive debt can be in life. It can limit your opportunities for receiving financing, it can affect your job search, and, of course, it can cost you a significant portion of your income. And this does not even begin to address the feelings frustration and stigmatization that come along with such situations. Many people believe that the only way out of debt is the option right in front of them: making the minimum payments and waiting for the debt to be paid off in whole. In this article, we will address that concept, and we will discuss why it may not be the best option for you.

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“To impose taxes when the public exigencies require them is an obligation of the most sacred character, especially with a free people. "

-James Monroe


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“The borrower is servant to the lender.”

-The Bible...


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Debt Consolidation Vs. Debt Settlement: Which is Right for You?

Debt consolidation and debt settlement are two distinct services with one common goal: getting people out of debt and back on their feet. However, despite their similarities, these oft-confused debt relief programs are actually different. In this article, we will discuss the ins and outs (as well as the pros and cons) of each option, and hopefully help bring you closer to making

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“The circulation of confidence is better than the circulation of money."

-James Madison


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Reducing Credit Card Debt

Reducing and eventually paying off credit card debt is a challenging goal, but as anyone who has gone through the process will tell you, the freedom and peace of mind that come with regaining financial control are completely worth it. In this article, we will cover a few of the most important steps that you should take if you are serious about reducing credit card debt

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“Running into debt isn’t so bad. It’s running into creditors that hurts.”...


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“The reality is - A high Debt to Income Ratio can counter a high Credit Score!”

-Cornelius J.


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