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Person’s bankruptcy risk score is a number that indicates how likely an individual is to file for bankruptcy in the future.  It is similar to credit score, which is also used to assess the responsibility of a particular borrower and the liability they pose when lending to them.  However, bankruptcy risk score is much less commonly known than credit score.  Unlike with credit scores, there are few resources available that allow a consumer to discover the value of their bankruptcy risk score, or to learn about ways they can improve it. [caption id="attachment_189" align="alignnone" width="600"] Bankruptcy Risk Score by Gene…

Do you have bad credit or no credit? Do you have decent credit, but want to amplify your credit score? You’ve likely heard all the traditional advice for improving your credit score: secure lines of credit, make your payments and don’t fall into poor standing. This conventional advice isn’t always the best, especially for those who wish to repair and rebuild their credit quickly. Fortunately, tradelines for sale exist as a valuable tool that anyone can use to build, repair and enhance their credit rating. What Exactly is a Tradeline? A tradeline is a line of credit that has been held in good…

Your credit utilization rate can have a dramatic effect on your credit score. When your utilization rate is too high, your score is likely to suffer. In fact, FICO reports that your credit utilization rate accounts for approximately 30 percent of your credit score. Fortunately, there are steps you can take to lower your utilization rate. Credit Utilization Rate Basics The term "credit utilization rate" refers to the ratio of your outstanding balances to your available credit. For example, if your outstanding balances total $3,000 and your available credit is $6,000, your total credit utilization rate would be 50 percent.…

Credit score is one of the biggest factors in securing a loan of any kind at a competitive interest rate. Anyone looking to raise credit score fast should first be aware of what goes into a credit score. At this time there are five major components, with two being weighted far more than the others: 1. Your Payment History – 35%  Paying on time consistently is often the deciding factor between an exceptional credit score or just an average one. Of all the tips to improve credit score, managing your payment history can have the most impact over time. While…

  What would you think if you found out that regardless of a squeaky clean driving record, a bad credit score could cause you to pay more for car insurance each year? It might sound crazy, but it's true. Insurance providers quote you a price based upon your level of risk, but that risk isn't necessarily limited to your driving safety. While insurance companies often advertise affordable rates and great discounts, the findings in the underwriting process could mean a much more expensive outcome for many unsuspecting motorists. Keep reading to find out more about how bad credit could be costing…

A business credit card can be an absolutely invaluable asset to a company's operation. However, attaining a line of credit for your company is very different than applying for a personal credit card. Keep reading to find out what a business needs to qualify for a line of credit, and why your business should consider getting one. CAN ADDING TRADELINES OF CREDIT REALLY HELP ME AS MUCH AS I NEED? How Does My Business Get a Line of Credit? As far as your business goes, there are several things necessary in order to get a line of credit in your…

How High Does My Credit Score Need to Be to Buy a House? You're probably aware of how much of an impact your credit score has on your entire life—from buying a home or car to signing up for a new credit card. While your scores affect just about every part of your life, especially when it comes to financial decisions, the question remains as to whether or not one needs a top-notch credit score to take out a loan and purchase a home. Can you have less than stellar credit and still buy that house you've had your eye…

In the late 1970s, Muhammad Yunus began lending miniscule amounts of money out of his own pocket to the rural poor of Bangladesh. He soon received bank backing for his small loans and the microcredit movement grew. By 2007, the bank he established, Grameen Bank, meaning "Village Bank," had lent over $6 billion to over seven million low-income entrepreneurs. For his efforts, Yunus and Grameen Bank received the Nobel Peace Prize in 2006. In recognition of his struggle against global poverty, Yunus also received a U.S. Congressional Gold Medal, which was awarded in 2010 and presented in 2013. The poor face…

Unfortunately for many of us, VISA really is everywhere we want to be. Thanks to impulse purchasing and poor budgeting habits, the convenience of a credit card often causes us to spend a bit more than we should. In fact, according to CNN, the average household in America had $15,950 in credit card debt in 2012. On average, that debt was subject to interest rates that were in the mid to high teens (and sometimes even higher). This may be great news for credit card companies, but it is certainly bad news for consumers who struggle with money management. Worse still,…

Credit Scores are like the secret room in a government building that only the highest level security personnel can access. No one really knows how exactly they are scored, but we do know some things. Here are six things that you may not have known, but are very beneficial:  There is no absolute number: The comprisers of the widely accept FICO allow different lenders to customize their own system, so lenders will not all give you the same score. Also, each of the three bureaus --TransUnion, Equifax, and Experian-- has a proprietary scoring model. To make things just a little more…