Debt collectors may fall short of carting you off to jail, but there are several less extreme steps they can take in order to collect what may be owed. Here are seven things they generally can do and a few things to know about your own rights. 

Fueled by unemployment and a drop in income, many people are still feeling the financial effects of COVID-19. So it would only make sense that credit scores were lower as a result…right? Strangely enough, according to information released by both FICO and VantageScore (two of the major credit scoring companies), the opposite is true — average credit scores are currently at an all-time high of 711 for FICO (as of July 2020) and a 4-year high of 688 for VantageScore ( as of October 20, 2020).  What’s the reason for the spike? There may be a few. 

When we first compiled a list of the help banks were offering during COVID-19, many of their programs were specifically outlined. As the situation has evolved, many banks (all of the ones we previously mentioned at least) are still offering help — but you may have to apply, and it may be decided on a case-by-case basis. It’s also important to note that some banks state specific cutoff dates for enrolling in the forbearance and deferment programs they offer.  Check out our updated list, accurate as of December 10, 2020.

Looking for ways to keep more cash in your pocket? Boosting your credit score could be a good place to start. In fact, a study shows raising your credit score from the range considered “fair” to the range considered “very good” could save an average of $316 per month¹.  But how could you potentially make that jump?  Credit report errors could be the culprit Some people have errors on their credit report that bring down their credit score — like late payments that weren’t late, for example. Unfortunately, these errors can have a negative impact on your credit score, which, depending on the severity, might lead to unfavorable results like: Losing out on an apartment or job Being denied for

Are you ready for a reset on 2020? You aren’t alone.  If this year wasn’t the kindest to your credit, there are plenty of steps you can take to get it back on the right track.  Check out a few tips to improve your credit you might want to tackle in 2021.  Stay in tune with your credit report and credit score  The first step you can take to begin proactively managing your credit? Regularly checking your credit reports and credit scores.  A quick refresher: There are three primary credit reporting agencies (CRAs) — Experian, TransUnion, and Equifax. Each CRA collects information from lenders and creditors — otherwise known as data furnishers — to add to your credit report. Data

Sometimes managing credit and monitoring your credit score can feel like a game of chess. But while the credit impact of certain financial moves may feel like a mystery, there are some general guidelines surrounding what may happen to your credit score in different circumstances.  So let’s take a look at what may happen to your credit score if… You receive a hard credit inquiry Size of Credit Score Drop: 5 points or less, according to FICO A hard credit inquiry generally occurs when you voluntarily apply for a new form of credit and the lender or creditor pulls your credit report to determine your credit health. This may cause your credit score to drop five points or less, at