How Can You Protect Yourself from Identity Theft?

First, protect your sensitive personal information as much as possible. Also, regularly obtain your credit report and check it for any accounts you did not open. You can obtain your free credit report every twelve months at: https://www.annualcreditreport.com/. You can also purchase credit monitoring or “freeze” your credit through various services but make sure you…

Details

What Is Collateral?

Collateral is anything of value that can be taken by the lender if you do not pay back the loan. Loans that are granted based upon collateral are called “secured loans” (i.e., a home mortgage or car note). The lender wants to identify property owned by the borrower which has a value at least equal…

Details

What are the Major Laws that Regulate Credit?

The fundamental federal laws that regulate credit are the Fair Credit Reporting Act[1], Equal Credit Opportunity Act[2], Fair Credit Billing Act[3], and Fair Debt Collection Practices Act[4]. The Fair Credit Reporting Act values the accuracy, fairness, and privacy of information in the files of consumer reporting agencies.  It also controls the use of credit reports…

Details

Why is Maintaining Good Credit Important?

Credit is precious. The value of how much credit you have and how you use it goes far beyond shopping. Whether you have good or poor credit can likely affect where you live and even where you work, because your credit history may be considered by prospective employers. It is important to understand how credit…

Details