In the recent years, there’s been a surge in the number of companies offering consumers the chance to increase their credit score by updating their credit reports with payments made to companies that don’t traditionally report to credit bureaus. These payments or accounts that are reported are called self-reported accounts…
A grace period has different meanings, but it typically refers to the amount of time that you have before something (usually negative) occurs. For instance, if you have an auto loan that is typically due on the first day of every month, your finance company may have a 15-day grace…
The CFPB (Consumer Financial Protection Bureau) now allows debt collectors to contact you on social media. Why this is bad for consumers Unethical debt collectors It’s now unknown how debt collectors can contact you on social media. It’s unknown if they have to send you a private message or (hopefully…
In our “Important things to do before applying for a credit card” article, we encouraged credit card applicants to reach out to their prospective credit card issuer and inquire about a few things, including the credit card’s payment grace period, credit limit increase policies, and payment methods. If you haven’t…
In 2021, Experian, Equifax, and TransUnion collectively received over 700,000 consumer complaints filed against them at the Consumer Financial Protection Bureau (CFPB). The three major credit bureaus, who are responsible for collecting and maintaining credit records, received more than half of all of the CFPB’s complaints in 2021. The CFBP…
We’ve all heard the warnings: “Keep business and personal separate.” “Don’t mix business and personal. Sometimes, these phrases can refer to the concept of keeping personal life and work (or business) life separate. In the context of finances, it refers comingling, which occurs when personal and corporate funds are treated…
If you’re considering buying a new construction home and will be working with the builder’s agent instead of your own real estate agent, you’re doing yourself a disservice. It seems obvious, but it needs to be stated that you’re being “represented” by the seller’s agent when you buy a new…