If you’ve never heard of a “Refund anticipation loan”, or RAL, it’s probably a good thing. RALs, also known as “instant refunds”, are short-term loans that are made based on the notion that you will be receiving a tax refund from the IRS. But they come at a significant price in terms of fees and [...]
Entries from February 10th, 2009
Refund Anticipation Loans: Can You Say “Predatory Lending”
February 10th, 2009 · 2 Comments · Banking, Consumer Info
Tags: instant tax refunds·IRS tax refunds·predatory lending·RAL loans·Refund anticipation loans
When Debt Consolidation Doesn’t Pay
February 9th, 2009 · No Comments · Consumer Debt, Student Loans
If you owe a good bit of money, you’re probably wondering whether or not you should consider getting a debt consolidation loan. In many situations, taking out a consolidation loan is the best way to make progress toward reducing your debt. However, there are several circumstances under which debt consolidation isn’t a wise choice. Two [...]
Tags: debt consolidation·Doesn't Pay·Federal Student Loans·Interest Rates·Loans·Medical Bills
Experian Cutting off Consumer Access to FICO Scores
February 6th, 2009 · 5 Comments · Credit Bureaus and Scores, Credit Reports
Yesterday, I was surprised by an announcement from Experian, who announced that after February 14, 2009, it will no longer offer the FICO score based on its credit database. I consider this a move to force lenders and consumers to abandon the FICO credit score model developed by Fair Isaac and use instead the its [...]
Tags: Credit Bureaus·Experian·FACT Act·FICO score·myfico.com·PLUS Score·VantageScore
A List of the Most Common Credit Report Errors
February 5th, 2009 · 3 Comments · Credit Bureaus and Scores, Credit Reports
With the importance of having good credit becoming considerably more crucial in today’s economy, reviewing your credit report on a regular basis should be a no-brainer. Consumers are bombarded with advertisements and funky song-jingles reminding them to obtain their free credit reports annually, but once you get this (sometimes rather lengthy) document, what do you [...]
Tags: Credit Report Errors·credit report mistakes·Credit Reports·free credit reports·review your credit reports
