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Do Medical Bills Damage Credit Scores?

November 12, 2019Shawn LaneConsumer Credit Expert Lenders use credit scores to help predict risk. Credit scores are designed to calculate the odds that you’ll become 90 days late (or more) on any credit obligation within the next 24 months. The more likely it is that you might pay something 90 days late within that time frame, the lower your scores …

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How to Add Positive Information to Your Credit Reports

October 8, 2019Shawn LaneConsumer Credit Expert It’s important to make sure the information on your three credit reports is accurate. Errors and mistakes on your credit reports can potentially hurt your credit scores and make it difficult or even impossible to qualify for new financing when you need it. But what if positive information is missing from your credit reports? Is …

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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 …

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How to Rebuild Your Credit After a Bankruptcy

July 11, 2018 Shawn Lane Consumer Credit Expert Bankruptcy has its pros and cons. Chances are that you considered the facts, weighed your options, and did not choose to file bankruptcy lightly. Although bankruptcy can certainly hurt your credit, filing for bankruptcy does not mean that you have to be stuck with horrible credit forever. There are steps that you …

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How Co-Signing Impacts Your Credit

July 25, 2018 Shawn Lane Consumer Credit Expert Most credit questions asked of me can be answered exactly the same. “It depends…” Question: How will an inquiry impact my credit? Answer: “It depends” Question: How will opening a new credit card impact my credit? Answer: “It depends” Asking how co-signing impacts your credit is no exception. The effect which co-signing …

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Why Paying Your Credit Card On Time Isn’t Enough

June 14, 2018 Shawn Lane Consumer Credit Expert Basic credit common sense tells you that paying your bills on time is essential to maintaining a good credit rating. What you may not realize, however, is that your payment history is only one component of good credit. Payment history absolutely matters, but keeping your payments on time alone is not enough …

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How a Good Credit Score Can Improve Your Life

March 21, 2018 Shawn Lane Consumer Credit Expert There is no sugar-coating the fact that life can become a lot more complicated whenever you are faced with credit problems. Sure, you can get by with bad credit and low credit scores, but living like that can be expensive, not to mention stressful. On the other hand, when you work hard …

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5 Things You Can Do to Increase Your Credit Score

January 3, 2018 Shawn Lane Consumer Credit Expert Struggling with the effects of bad credit can be very stressful. When you have credit problems, there is no question that life often becomes more difficult. With bad credit it can be tough to purchase a home, secure reliable transportation, and qualify for a credit card. In fact, bad credit can even …