So many of the things we do in everyday life unexpectedly affect something that is unrelated, but important.
Too many people simply look at the minimum amount due on their credit cards and think, "Wow, that's so cool, all I have to do is pay the minimum on this $12,346.52 balance; that's not much at all!"
Many people believe if they pay off their credit card balances, there will be an automatic and dramatic increase in their credit score. Perhaps. If you ask five "credit professionals" about paying down your credit card balance, you'll get at least seven different answers.
Starting January 1st, 2011 if you apply for a loan or a credit card, and credit is extended but on less favorable terms than to other consumers, the issuer must now notify you of this fact. It used to be you would only have been notified under these conditions if you were financing your home.
I was having lunch at a local diner with some friends and there was a group of people at the next table doing the same. The bill comes. Fortunately, everyone has cash, but one person.
On December 9th I blogged about being cautious of debt negotiators. Consumer counseling services are agencies that are a great alternative to debt negotiators.