In previous articles, we’ve linked to the FTC’s advice for consumers who are “Knee Deep in Debt,” which includes a recommendation that consumers seek credit counseling if necessary. In giving this advice, the FTC cautions readers that “just because an organization says it’s “nonprofit,” there’s no guarantee that its services are free, affordable, or even legitimate.” Indeed, it’s important to ensure that any credit counseling agency you use is reputable before taking advantage of their services. But how can you know you’re working with a legitimate credit counselor? Here are some tips: 1. COA ..read more

When brainstorming financial goals, many educators and businesses use the SMART goals concept, which was created by Paul J. Meyer and spelled out in his book Attitude is Everything. We think the SMART goals system can be a good tool for debt counseling; any financial goal we recommend should be SMART. SMART stands for Specific, Measurable, Attainable, Realistic, and Time-based. In a debt counseling context, applying SMART criteria to financial goals can really help clarify what our clients are hoping to achieve, and give them a better chance to succeed. Specific: saying you want to “improve y ..read more

Your credit score is vital for your financial life. It’s what lenders will look at when deciding whether to offer you a loan or credit, and it will impact the terms they offer. As you can see from our “What is a Good Credit Score?” infographic and video, credit scores range from 300-850, with general categories of: 300-550 Poor credit 550-620 Subprime 620-680 Acceptable credit 680-740 Good credit 740-850 Excellent credit Improving your score from one category to another could potentially save you tens of thousands of dollars on a home loan, thousands on an auto loan, and may even lower your ..read more

One way people seek to address their debt is by transferring balances to a new credit card. They might be consolidating multiple cards into one debt, or combining different kinds of debts under a new revolving credit card account. This kind of strategy isn’t for everyone, and like any debt repayment strategy, has upsides and downsides. If you’re looking into transferring balances to a credit card, you have a lot to consider, starting with how balance transfers work. How Balance Transfers Work Whether you get a new credit card or use one of your existing accounts, you can request a balance tran ..read more

Our credit counseling and Debt Management Plans help with all kinds of revolving debts, including store credit cards and traditional bank-issued credit cards. Store cards can present some unique challenges for consumers. Stores will tempt you to sign up for a credit card by offering a long interest-free period or a big discount when applying for a new credit card. They can afford to offer this discount today because they’ll make a LOT of money off of you in the long run. Store cards have much higher interest rates than normal credit cards. Another pitfall of store cards is simply the prolifera ..read more

When we talk about homeownership, and how that impacts the health of your credit, we’re usually talking about the mortgage loan. And while a mortgage loan is vitally important to your overall financial health and creditworthiness, there are many more factors involved with homeownership that can affect your credit. Mortgage and other financial data that appear in your credit report can have a big impact on your credit score, but your score isn’t everything; there are situations where your credit report will be consulted and your score is not accessed, like a pre-employment credit check. It’s im ..read more

Credit.org is a U.S. Department of Housing and Urban Development (HUD) approved housing counseling agency.  HUD-approved housing counseling agencies help empower homeowners, homebuyers, and renters to make well informed housing decisions. In response to the ongoing recovery from the COVID-19 pandemic, it’s important that anyone facing housing instability reach out for counseling and assistance to ensure that you are fully utilizing all the resources available to you. We have HUD certified housing counselors ready to help. Even if you’ve been previously rejected or denied for assistance, y ..read more

It’s important to prepare thoughtfully for any interaction with a pawn shop. By understanding how that kind of business operates, you can have a successful negotiation if you need to take advantage of that kind of service. Before you consider using a pawn shop to borrow against or sell some of your property, do a bit of advance homework and make sure you’re ready. Selling to pawn shops Decide if you are going to pawn or sell: At a pawn shop, you can borrow money, using your property as collateral. After an agreed-upon time (usually 30 or 60 days), the pawn shop will own your goods and be able ..read more

California’s legislature has passed Assembly Bill 832, which brings relief for renters in California who were exempted from paying rent or being evicted during the COVID-19 pandemic. AB 832 Extends eviction protection for qualifying renters. Now renters are protected until September 30th, 2021—so long as they make a formal declaration of financial hardship and pay 25% of their monthly rent. If they qualify, renters cannot be evicted for the unpaid portion of their rent. Starting on October 1st, 2021, and running through March 31, 2022, there will be a modified court procedure in effect to allo ..read more

We’ve produced a series of articles to help our clients and the public at large to opt out of unwanted marketing communications and protect their privacy. No matter the kind of communication method, there’s a way that spammers and marketers take advantage of the convenience and low cost of communicating to flood you with advertising and offers. Some offers are legitimate, others fraudulent, but in any case, you will want to control what messages get through to you in order to take control of your personal finances. Opting Out of Unwanted Texts & SMS Messages Cellular texts, SMS messages, a ..read more