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What is Debt Consolidation?

July 9, 2020Shawn LaneConsumer Credit Expert Dealing with multiple sources of debt is like juggling chainsaws.If you’re really good at it, you might be able to avoid getting hurt. If you’re really bad at it, you probably won’t get very far without incident. Either way, you’re one mistake away from disaster.So why not combine your debts into one, easily-manageable package?That’s …

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Best Alternative to Payday Loans

June 11, 2020Shawn LaneConsumer Credit Expert Payday loans ge a lot of flack – and rightfully so. They have outrageous interest rates and often use predatory practices to lure in financially vulnerable borrowers.  But if you think avoiding payday loans is easy, you’ve probably never been in a situation where you need money immediately. When you live paycheck to paycheck, …

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Credit for Kids

May 21, 2020Shawn LaneConsumer Credit Expert If you take an informal survey of people struggling to manage their finances as adults, they’ll probably have one thing in common. Disregarding any socioeconomic factors, there’s a good chance they had very little personal finance education as children.It’s not surprising that 36% of college students have managed to rack up some amount of credit …

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What is a Credit Builder Loan?

April 7, 2020Shawn LaneConsumer Credit Expert Starting from the bottom is always hard. With no upward momentum, just getting started can feel like a monumental task.That holds especially true for your finances. Money tends to make more money, and good credit lends itself to even better credit. All the best loan products – credit cards, mortgages and personal loans, for example …

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How Good Credit Can Save You Money on Insurance Premiums

July 9, 2019 Shawn Lane Consumer Credit Expert The benefits of good credit are seemingly endless. There’s the obvious — good credit can help you to qualify for loans, credit cards, and other types of financing. Solid credit can also help you pay lower interest rates when you’re approved. But low rates and high approval odds are only the tip …

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What Makes Up Your Credit Scores? Part 5: New Credit

June 4, 2019 Shawn Lane Consumer Credit Expert When you apply for a new loan or credit card, you give the lender permission to check your credit report. This credit report access is known as an inquiry. What you might be surprised to learn is that inquiries have the potential to hurt your credit scores. Keep reading for a breakdown of …

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What Makes Up Your Credit Scores? Part 3: Length of Credit History

March 7, 2019 Shawn Lane Consumer Credit Expert You know your credit scores are important. They can make or break your applications for loans and credit cards. When you’re approved for financing, your scores can impact how much you’ll pay and the terms you are offered. Of course, you can know that your credit scores matter without understanding how they …

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What Makes Up Your Credit Scores? Part 2: Amounts Owed

February 21, 2019 Shawn Lane Consumer Credit Expert   Many people think that paying your financial obligations on time is all it takes to earn great credit scores. The truth, however, is that credit scoring is more complicated than that. Believe it or not, the majority of the points in your credit scores don’t have anything to do with how …