There are two sides to every story. It’s one of those old clichés you hear time and time again. When I think about the collections process, this is the first thing that comes to mind. You have the consumer or debtor who enters into an agreement to pay for something and at some point, makes the decision not to pay.
It could be a credit card bill or a car payment –or maybe they even forget to pay a library book fine (this actually happened to someone I know!). On the other side, you have the debt collector, who has the task day in and day out, of collecting on the debt the debtor has agreed to pay.
Small businesses are getting a lot of attention right now. With the presidential election, Affordable Care Act and talk of the looming fiscal cliff, small business health and survival concerns have been widely discussed across the United States.
Earlier this year, Experian’s Business Information Services and Moody’s Analytics, a leading independent provider of economic forecasting, joined forces to create a business index and detailed report that provides insight into the health of U.S. businesses. The Experian/Moody’s Analytics Small Business Credit Index is reported quarterly to show fluctuations in the market and discuss factors that are impacting the business economy.
Details from the Q3 analysis highlighted …
Do you love saving money?
Do you ever use apps or online tools to help you cuts costs and stay on budget?
In our continuing quest to promote financial literacy and help consumers live credit smart, we asked some of our favorite personal finance writers to share a favorite app that helps them stay on budget and save money.
Check out these frugal-living apps:
Whether you own the largest pickup or the smallest hybrid on the market, one thing remains clear – folks in the U.S. love their vehicles.
In the recently released Loyalty and Market Trends Report by Experian Automotive, we looked at several key trends that highlight who is buying what, and which auto makers received highest marks in loyalty in Q2.
The Consumer Financial Protection Bureau (CFPB) has just issued its latest report to Congress on credit scores sold to consumers versus credit scores sold to creditors.
The 42-page report, which you can find here, provides an analysis of different scoring models, comparing credit scores sold to creditors and those sold to consumers by the national credit reporting agencies, including Experian.
Of particular interest, and of reassurance to consumers, are some high-level conclusions from the report:
In our busy lives, it is easy to miss paying a bill.
However, your lenders won’t accept excuses for why they you didn’t pay them as you agreed to do. For example, your bankcard company cannot make excuses for being late in paying the merchants where you made your purchases. When you don’t pay, they still have to pay on your behalf.
Missed payments can have a severe impact on your credit scores. And lower credit scores will often penalize you with higher interest rates – which can end up costing you tens-of-thousands of dollars throughout your life.
So here are five strategies to help you build the best credit scores . . .
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