Month: August 2016

How to Get the Debt Collectors to Stop Calling You


No one likes receiving a phone call from a debt collector — the calls always seem to come at the wrong time, and the debt collectors can be insistent. Even though you owe the debt, you don’t have to put up with these calls.

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How Does an Eviction Affect My Credit?



An eviction typically occurs when a tenant violates the terms of their lease. Violations of the lease can include things like =when a tenant fails to pay rent or keeps an unauthorized pet on the property. You may wonder if an eviction can find its way onto a credit report and if it does, how your credit could be damaged. We’ll go over the types of evictions and what they can potentially do to a credit report.

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Debt Consolidation: Is It Worth It?


If you are burdened with too much debt, you have probably considered consolidation. While it is often billed as a stress-free solution to your problems, banks and consolidation companies don’t offer their services for altruistic reasons: the motivation is profit. So, when is debt consolidation worth it? Read on to learn a few do’s and don’ts.

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Who Is Responsible for Discovering Credit Report Errors?



Many years ago, while in the process of purchasing my first home, I received notice from my mortgage broker that there were some listings on my credit report that would affect my ability to obtain financing for the home.

Up to this point in my life, I had never pulled my own credit report (this was before I became associated with Lexington Law Firm). After getting some pointers from my mortgage broker, I pulled a three-in-one credit report and discovered that there were indeed a couple of 30-day late listings on my report. I did not recognize the creditors and investigated further. During my investigation I found out that my father (who has the same first and last name but a different middle name) was a customer of these previously unknown creditors and had been late with his payment on a couple of occasions. These listings were erroneously placed on my credit report.

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How Does Student Loan Interest Affect Credit Health?


Good news for college-bound students: interest rates on federal student loans are hitting an historic low. Loans issued after July 1, 2016 will drop an average of 0.5%. Reductions include:

  • Undergraduate loans: 4.2% to 3.76%,
  • Graduate student and parental PLUS loans: 6.84% to 6.31%
  • Graduate student direct loans: 5.84% to 5.31%

The reduction is a relief for students and parents who rely on loans to achieve their educational goals. That said, student debt has the potential to help or hurt your credit score; it all depends on the choices you make, and it’s important to look closely at the differences.

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