Industry News, Resources, and Useful Tips

Understanding Your Debt to Credit Ratio Your debt-to-credit ratio is the percentage of available credit you currently use. It’s an important financial metric to understand because lenders use it to determine how much you can borrow and your interest rate. Before applying for a personal loan, you can use a debt-to-credit ratio calculator to assess…

Introduction to Debtors and Creditors In financial relationships, people and organization’s roles are commonly split into debtors and creditors. In straightforward terms, a debtor is someone who borrows money, and a creditor is someone who lends it. Yet, it’s important to understand the key differences between a debtor vs creditor because their obligations differ based…

Understanding Unexpected Expenses vs. Overlooked Costs Even the most responsible and financially secure people get thrown off by unexpected expenses when they least expect it. Unexpected expenses are financial emergencies that arise without warning and that you couldn’t have seen coming. On the other hand, overlooked costs are more like recurring bills or seasonal costs…

Good vs. Bad Debt and What Debt Means for You Some people assume that all debt is bad and should be avoided at all costs. However, debt can be both good and bad because of how it’s handled as a strategic means to better financial health. For example, some debt has long-term financial benefits, while…

Understanding Debt Management and If a Debt Management Program Is Right for You Simply put, debt is money owned and an obligation to pay off funds to another person, company, or government entity. Nearly eight out of 10 Americans have some type of debt, and the average debt per adult is $66,772. The most common…

How Do You Get Prequalified for a Loan? Before borrowing money from a lender, you must qualify for a loan, which involves a review of your finances, credit, and other factors to determine eligibility. But did you know you can prequalify for a personal loan without hurting credit reports and scores? The Purpose of Prequalifying…

Is a Loan to Pay Off Credit Cards Right for You? People take out personal loans for many different reasons, such as paying for home and auto expenses, catching up on bills, paying for holiday gifts, or taking a trip. However, you can also get a personal loan to pay off credit card debt to…

The Best Way to Pay Off Credit Card Debt Quickly How to Pay Off Credit Card Debt Fast Statistics show that nearly half of all Americans have credit card debt from month to month, and the average credit card debt amount in an American household is almost $8,000. So, while you certainly aren’t alone in…

How Long Does Something Stay on Your Credit Report?  People of all backgrounds and income brackets worry about their credit reports. It’s a universal concern in modern American life and something that can either make or break your financial dreams. Different types of financial information can stay on your credit report for two to 10…

To achieve your financial goals, consider making a monthly expenses list and creating a monthly budget. We provide tips to keep up with monthly bills.