January 7, 2021Shawn LaneConsumer Credit Expert New Year’s resolutions have a bad track record. They tend to fail, not through lack of effort, but because they’re usually too broad and overly ambitious. It’s difficult to formulate a strategy for a vaguely defined goal, and it’s even more difficult to stay motivated when your goal is unrealistic. That’s why financial goals …
3 Ways You’re Accidentally Sabotaging Your Credit Score
February 11, 2020Shawn LaneConsumer Credit Expert Good credit is a lifelong journey. It’s not something you can work to earn and then forget about once you reach your goal. Just like you need to constantly take care of your health by eating right and exercising, your credit requires constant attention. Learning good credit habits is a great place to start. …
Does Paying a Collection Help Your Credit Score?
September 10, 2019Shawn LaneConsumer Credit ExpertCredit has a huge influence over your day to day life. When your credit is in good shape, it can save you money on everything from your mortgage payment to your auto insurance premiums. On the other hand, bad credit can cost you money and may make it hard to qualify for loans, insurance policies, and …
The Cost of Poor Credit
August 14, 2018 Shawn Lane Consumer Credit Expert You work hard to earn an income. Wasting that money is the last thing you want to do. If you have bad credit, however, wasting money is inevitable. Bad credit is incredibly expensive and the cost of bad credit is compounded the longer your credit remains in poor shape. Believe it or …
The Fair Debt Collection Practices Act and How It Protects You
September 27, 2018 Shawn Lane Consumer Credit Expert No one likes to pick up the phone or open the mailbox only to discover a debt collector on the other side. Sure, debt collectors are allowed to contact you regarding legitimate, unpaid debts, but they also have strict rules they must follow when doing so. Among these rules is the Fair …
Which Debt Should I Pay Off First?
August 28, 2018 Shawn Lane Consumer Credit Expert So you have come into some money (or perhaps freed up a bit of room in your budget) and you are ready to start paying down your debts. Now you just need to choose where to start. Which debts should you pay off first and which ones can wait for later? The …
Your Rights According to the Fair Credit Reporting Act
May 31, 2018 Shawn Lane Consumer Credit Expert As consumers, there is a lot about the world of credit reporting which feels unfair. For starters, the fact that the credit bureaus are permitted to collect information about you, compile that information into reports, and sell your information to others for a profit – all without any permission being required from …
4 Credit Mistakes You Can Teach Your Children to Avoid
May 15, 2018 Shawn Lane Consumer Credit Expert As a parent, you are responsible for teaching your kids many different important life lessons. When they are young, you help them learn how to walk and talk. A few years later, you start teaching your kids about reading, writing, and arithmetic. Yet somewhere between lessons about the golden rule and the …
Why Your Credit Score Suddenly Dropped by Over 100 Points
March 7, 2018 Shawn Lane Consumer Credit Expert In my line of work, I am asked questions everyday like this one I received last week: “Shawn, I have been working hard for a while now hoping to raise my credit scores. I was making good progress, but when I logged into my credit monitoring to check my credit this month …
Don’t Fall for These Credit Myths!
February 5, 2018 Shawn Lane Consumer Credit Expert The world of credit is overflowing with myths and plain bad advice. Unfortunately, when it comes to your credit, believing the wrong myth could really hurt you. Before you blindly follow the advice you received from your well meaning loved one or the credit tip you read online from your favorite financial …
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