Tag Archives: pay down debt

What Is Your Credit Score

If you were considering loaning money to a friend, you would probably make a quick evaluation of how likely he is to pay you back.  Potential lenders want to do the same, but since they don’t know you personally, they need a more standardized way to evaluate your repayment risk.  That is where your credit score comes into play. Continue reading

5 Tips to Help You Pay Down Debt

There it is again. That ugly four letter “d” word that seems to loom over you every day. According to a CBS Money Report  in August 2012, the average consumer credit card debt is hovering just below $5000. With a minimum payment of $100, or 2% of the card balance, and an interest rate of 9%, that would take 16 years to pay off! Add that on top of any other debts that you may have, and whoa! Things seem to be out of your control. With a little planning and a lot of effort, you can take back control and give debt the boot. Continue reading