Credit card companies are assholes mainly because that are only interested in making money off of you.  They don’t care if you get sick or lose your job, they just want your money.  Credit card companies are not your friends.  I looked in my wallet the other day to see what I was carrying around in there.  Visa, master card, discover, chase, bank of america, I have them all.  They don’t do anything for me except charge me money.

You are better off to live on a cash system or use a debit card.  You will be a lot happier not having bills to worry about paying each month.  There is no price on peace of mind.  Don’t be a slave to your creditors, don’t go into debt.  I don’t care how much you want something.

Debt Free is the way to be.

What happens to my fico score if I am reported late? If you are late paying on your credit card bill by thirty days or more, it will get reported to the credit bureau as a late. I have seen credit scores drop as much as 100 points just by having one late payment. If you are trying to buy a home and the credit late is within a 12 month period it may keep you from being able to buy or refinance your home.

Does having to pay the late fee automatically mean that I will be reported as late to the credit bureau? Continue Reading »

How Does Debt Consolidation Work?

This article is about the advantages of doing a debt consolidation program. You may not be aware of this but debt consolidation, CCCS, credit counseling and consumer credit counseling are basically the same thing. Doing a debt consolidation plan is different than doing a debt settlement program. In debt settlement you are reducing the amount of principal that you will pay back and in credit counseling you are negotiating the amount of interest you will pay back. In consumer credit counseling you will pay all of the principal back plus some interest. Continue Reading »