The Truth of Credit

Once again the Fair Issac Corporation is “upgrading” a new and improved system to rate consumer default probability. The system set to debut in the second quarter of of ‘09 with at least Equifax being on board Transunion and Experian no commitment as of yet. Still its likely to take awhile for any improvements to [...]

There is no doubt that a “settlement” on your credit report looks a whole lot better than a chargeoff, judgment or lien. However, don’t fall into the “my credit is already jacked up” mentality because you need to look at your credit in a long-term perspective. In many scenarios a settlement is the best deal [...]

Remember when you used to go to Barnes & Nobles and every book in the Personal Finance section was “Zero to 100 Million in 7 Years” or “No Money Down Riches”. Well, I just happened to be at my local book store today looking for a new book and just about every title was, “The [...]

Unemployment, divorce and illness are the ‘Big 3 of Bankruptcy’. While all of these are tough to deal with on their own, the financial recourse is often just as troubling. When I first started in collections, I would (and still do) ask people why they have not filed for bankruptcy. These are the people who [...]

The Habit of Saving is Law #4 of Napoleon Hill’s Laws of Success. In the book he described a clerk who through his ability to save was able to “bailout” his company when the owner was getting ready to fold the business. Thus, making the clerk a partner and success was his there after. Who [...]