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EDITORIAL: Misuse of credit scores by banks unacceptable
Thursday, August 25th, 2016 | Author:
  • Banks have exposed themselves to litigation because denial of credit to a customer on the basis of such unjustifiable reports could be injurious to businesses and even reputation.
  • There is little use for positive information if it is not being used to price credit for good borrowers. And with that in mind, it should then not surprise banks that there is such a popular clamour to control interest rates.
Category: Credit Scores  | Tags:  | Leave a Comment
8 money moves you’ll regret
Monday, July 11th, 2016 | Author:


If youre like most Americans, youve probably used credit when cash was short, or splurged on a luxury instead of saving for a rainy day. Once in a while, this may not be a big deal. Yet if these bad money moves become habit, you could be in trouble.

Our grandparents put their gas and grocery money in envelopes and saved up for major purchases, said Mike Sullivan, spokesperson, Take Charge America, a national nonprofit credit counseling and debt management agency. Today, easy access to credit has resulted in a culture of instant gratification, and money habits have taken a turn for the worse.

RELATED:76M Americans struggling financially


Category: Debt Management  | Tags:  | Comments off
Council approves new debt management policy
Sunday, July 10th, 2016 | Author:

It may not have been the most exciting issue on Canmore council’s agenda at the end of May, but an updated debt management policy was clearly an important one for the community’s elected officials.

During one of its regular business meetings in May, council approved unanimously an updated debt management policy as presented by manager of financial services Katherine Van Keimpema.

While first approved in 2013, Van Keimpema said she undertook a review of the policy and compared it with recommendations by the Government Finance Officers Association and best practices used by other municipalities.

“We have been doing work on our long term financial policies and one direction...

Category: Debt Management  | Tags:  | Comments off

Payday lending is often portrayed as a manipulative industry only concerned with preying on naïve consumers. Thus, it is no surprise that Alabama policymakers are calling for restrictions against the industry.

Without an understanding of economics and finance, however, well-intended regulators could harm the very payday loan customers they are hoping to help.

It is important to recognize that payday lending meets an important need in the community. According to a survey by Federal Reserve economist Gregory Elliehausen, over 85 percent of payday lending customers reported that they took out a payday loan in order to meet an unexpected expense. While we all face unexpected expenses,...

Category: Credit Help  | Tags:  | Comments off
Endo Int’l (ENDP) Stock Up, BMO Initiates Coverage
Saturday, July 09th, 2016 | Author:

We rate ENDO INTERNATIONAL PLC as a Sell with a ratings score of D. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The companys weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

Category: Debt Management  | Tags:  | Comments off

Contracts to purchase previously owned US homes fell more than projected in May, a sign demand cooled after a robust start to the busiest selling season of the year, figures from the National Association of Realtors showed Wednesday in Washington.

Key Points

  • Index of pending home resales fell 3.7 percent (forecast was 1.1 percent drop), the most in six years, after a revised 3.9 percent increase in April
  • Measure rose 2.4 percent from May 2015 on an unadjusted basis (forecast was gain of 4.6 percent)
  • Pending sales declined in all four regions, including a 4.2 percent drop in the Midwest index to the lowest level since January
  • Sales gauge declined to 110.8...

Category: Credit Help  | Tags:  | Comments off

We conducted a small study where we took a sample 30-year-old male driver, and obtained auto insurance quotes for him based on excellent, good, fair, bad and poor credit scores. We considered drivers in both New York City and Salt Lake City. What we found was quite staggering. In Salt Lake City, a premium was nearly twice as expensive for someone with poor credit (below 500) than someone with excellent credit (above 720). The quotes from New York followed the same pattern. Based on these findings, having a bad credit score affected our driver more than having a DUI on his record.

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Can Your Credit History Just Disappear?
Thursday, July 07th, 2016 | Author:

What do expatriates, prison inmates and people whove never had a credit card or loan have in common? While this question sounds like a joke setup, its not. These people all are at risk of seeing their credit records vanish into thin air, along with their credit scores.

Most negative credit information remains on your credit file for seven years, while positive accounts are reported for 10 years. But if you haven’t had any active credit accounts for that period of time, you may find your credit history has all but disappeared.

While it might not seem like that big a deal, there are ways that not having a credit score can hurt you.

Fortunately, if youre worried about...

Category: Secured Credit Cards  | Tags:  | Comments off

Separately, Tesla Motors has a sell rating and a letter grade of D+ at TheStreet because of the companys deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing stock performance.

Category: Debt Management  | Tags:  | Comments off
Can I Get a Mortgage With Bad Credit?
Thursday, July 07th, 2016 | Author:

Prospective homebuyers may be surprised to hear that bad credit wont necessarily shut them out of the market completely. It is possible to get a mortgage with a subpar credit score — but your options are going to be limited and youre most likely going to pay in fees and/or interest.

What Score Do I Need?

General consensus among mortgage experts is that you need a score of 620 or higher to successfully obtain a conventional mortgage (think Fannie Mae- and Freddie Mac-backed loans). And, in fact, according to a report released by Equifax earlier this year, first mortgage originations for subprime borrowers (defined by the bureau as consumers with an Equifax Risk Score of 620 or below)...

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