Tips on How to Increase Your Credit Score

Having a good credit score is very important. Those with good credit scores are able to obtain more credit at lower rates so that they can easily finance a home, car, and other major purchases. Those with low scores often have trouble obtaining credit and may find it harder to qualify for loans, rent apartments, and even get hired for certain jobs. So what steps can you take to increase your credit score?

The first thing you should do is request a free copy of your credit report. If you don't accurately know your credit score, you won't know what you're working with and what you can do to correct it. Fortunately, due to the Fair Credit Reporting Act, all three credit reporting companies (Equifax, Experian and TransUnion) are required to provide you with a free copy of your credit report once a year. You can obtain your free copy by clicking here. You will have to pay extra to obtain your actual credit score, however, the report will include valuable information such as your existing lines of credit and their standing, a list of people who have requested your credit report (such as employers), records such as bankruptcies, foreclosures, judgments and other overdue debt to collection agencies.

Strategic Default, Short Sales and Loan Modification: What Choice is Best for Your Financial Future?

1.11 million Americans reported being "underwater" on their homes in 2011. Underwater is a commonly used financial term that is used when a homeowner owes more money on a property than it is worth. During the financial crisis, property values plummeted to rock bottom and millions of Americans suddenly experienced the unsettling feeling of owing hundreds of thousands of dollars more on their property than it was actually worth. If you are experiencing you should consider all of your options.

Homeowners who wish to get rid of an underwater or distressed property have several options.

Is Bankruptcy Right For You and Your Family?

In difficult financial times, it is understandable why a family would need to explore all of their financial options. If you are having trouble paying your bills or meeting your financial obligations, you may want to consider bankruptcy as an option.

It can be a difficult and trying time when your family is considering bankruptcy.

Before you decide whether or not to file, there are several things you should consider. If you do some preliminary research, the prevailing wisdom seems to be that a lawyer is necessary for all cases of Chapter 13 Bankruptcy and advised for any difficult cases of Chapter 7 Bankruptcy.

However, in 2005, bankruptcies laws changed, making it much more difficult to file for bankruptcy. You can see this in the graph below, taken from the News section of the United States Court website: