Debt

Is all debt bad? Is any debt good? How you perceive debt, and how it affects your credit, depends on many factors, including how much debt you have, how well you’re able to pay it, and the kind of debt. Too much debt is bad if it leaves you struggling to pay your monthly bills and affects your credit utilization ratio.

You have many options for dealing with debt and managing its impact on your credit. Explore to find out the impact of debt consolidation on your credit, how your spouse’s debt can impact your own credit, and whether or not you can remove existing debt from a bankruptcy.

What Happens When Medical Bills Go to Collections?

October 3, 2017

Dear Experian, I owe a large medical bill and have been making monthly payments to the hospital, but they have recently told me that if I don’t start paying...

How Will A Medical Collection Account Affect My Score?

September 12, 2017

Dear Experian, Does a medical bill sent to a collection agency affect my credit score? – MPR Dear MPR, Yes, a medical collection account can affect your credit scores...

How Long Does an Eviction Stay on Your Record?

August 22, 2017

Dear Experian, I was evicted almost seven years ago, and at one point I saw the money owed on my credit report in collections. Now, I don’t see it....

Prepaid Card Basics

August 17, 2017

Over the last few years, there has been explosive growth in the use of prepaid debit cards. In fact, use of these cards rose by 50% between 2012 and...

What is a Rewards Credit Card?

August 17, 2017

Rewards credit cards are hot: a recent Experian survey found 45% of Americans who plan to apply for new credit cards are doing so because they want rewards cards....

Will Paying My Credit Card Balance Every Month Help My Credit Score?

August 8, 2017

Dear Experian, Is it better to pay off the entire balance on a credit card each month, or to always leave a small balance to carry over? – OHR...

How Can I Find Out How Much I Owe on My Student Loans?

July 25, 2017

Dear Experian, How would I go about finding who I owe money to for my student loans and how much I owe? – SMC Dear SMC, Your credit report...

Can I Negotiate with Debt Collectors?

July 6, 2017

Dear Experian, I have two charge offs on my credit report from two different credit cards. Is it possible to get the credit card companies to remove the charge...

How Can I Tell if a Debt Collector is Legitimate?

June 8, 2017

Dear Experian, On my credit report it states that there is an open account for more than $400 to a company I have never heard of. I searched the...

How Do I Deal with Debt Collectors?

May 11, 2017

Dear Experian, How should I deal with debt collectors? I have seen on other blogs that once the third party debt collector contacts you it starts the seven-year period...

Does Opening a Credit Card Hurt Your Score?

May 2, 2017

Dear Experian, I have one credit card that I use as my main card most of the time. I also have two airline cards that I rarely use. I’m...

Should I File for Bankruptcy?

April 6, 2017

Dear Experian, I have multiple charged off accounts and want to know if I should file bankruptcy or try to pay off the debt? I owe quite a bit....

What If I Can’t Pay Back a Payday Loan?

March 23, 2017

Dear Experian, I had a payday loan I took out in 2011. I became unable to work and had to have surgery in 2012. I began attempting to repair...

Can You Pay off One Credit Card with Another?

March 16, 2017

Dear Experian, Will transferring a balance from one credit card to another credit card, not to a new card but one that I have already had for years that...

Can I Apply for Credit Cards After Declaring Bankruptcy?

March 8, 2017

Dear Experian, Can I apply for credit cards after declaring bankruptcy? What kind of credit card might I qualify for? I am trying to rebuild my credit. – GSP...

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5 Budget-Friendly Ways to Give Back

As the holiday season ramps up, Americans often increase their charitable giving. Here are five ways to give to others while still staying on budget.