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Credit Tips

5 Ways That Average Credit Can Kill Your Financial Future

By Tiffany Hazelaar | August 4, 2021

Consider this all-too-common situation… Perhaps you previously had good or even great credit, but the recent financial downturn caused a loss of income in your household, and this forced you to skip or be late on a credit card or two, a mortgage payment, or a car payment.  Maybe now you have recovered and caught…

The Truth About Department Store Credit Cards

By Tiffany Hazelaar | July 28, 2021

You’ve seen this scenario play out many times. As you are checking out at your local TJ Maxx, Home Goods, Lowe’s, Best Buy or any other large retail store, the cashier casually asks you if you would like to quickly apply for a store credit card and save 10% on today’s purchase. Or perhaps you…

3 Things to Do Now If You Are Waiting to Buy a House

By Tiffany Hazelaar | July 21, 2021

It is a pretty well established fact that today’s housing marketing is “unusual” to say the least! Home prices are escalating at a record pace, and even with this happening, they are selling fast and above list price because supply is low. (Remember that Econ 101 class where they talked about Supply and Demand?) As…

Three Ways for Teens to Start Building Credit

By Tiffany Hazelaar | July 13, 2021

One of the most important things a teenager can do is learn how to use credit responsibly.  However, when you’re young and have never had any credit extended to you, it can be a bit difficult to get started.  For parents of teens, there are a few things that you can do to help your…

Here’s What Wealthy People Will Tell You About Having Excellent Credit

By Tiffany Hazelaar | July 7, 2021

Sometimes it’s smart to ignore what other people do, and sometimes it’s smart to follow their lead. When it comes to money, wealthy people have usually figured out how to make it and how to save it.  So, there’s often some value in heeding their advice. Here’s what most wealthy people will tell you about…

What Exactly is “Loan Forbearance?”

By Tiffany Hazelaar | June 30, 2021

We receive questions from people asking about loan forbearance and what they should do if they are unable to make their mortgage payments.  It has become increasing more common as a result of the economic downturn from the pandemic. Here’s a simple explanation… Forbearance is a postponement of your payments, typically due to a financial…

How Credit Repair Helps Property Managers and Renters

By Tiffany Hazelaar | June 23, 2021

We talk a lot about people undergoing credit repair in order to boost their scores so they can buy a home.  Unfortunately, today’s market conditions have made it tough for some home buyers and many have decided to wait for a while before getting back into “home buying” mode. While this decision can understandably come…

3 Times When Mediocre Credit Scores Will Hurt You

By Tiffany Hazelaar | June 16, 2021

Very commonly, people with “mediocre” credit scores will not think that they need credit repair because their scores are still high enough to allow them to qualify for home loans, car loans, credit cards, and department store cards.   By “mediocre” we mean average scores in the range of 670-720.  These certainly are not “bad” scores,…

What is FICO Resilience and Why is It Important?

By Tiffany Hazelaar | June 2, 2021

In the past year, tens of millions of people have lost jobs and suffered financial hardships as a result of economic shutdowns during the pandemic. Concurrently, and not surprisingly, the credit scores of millions of Americans have also plummeted. In response to this volatility, creditors have developed a new method of predicting how likely a…

Bankruptcy and Your Credit Scores

By Tiffany Hazelaar | May 26, 2021

Let’s be honest. Sometimes you have to do what you have to do. Filing a bankruptcy may not be a “Feel Good” moment for you. However, sometimes you have to make a business decision regarding your finances.  There is no way to underestimate the impact bankruptcy has on your credit. It is one of the…