Credit & Debt

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Managing Debt For Dummies Cheat Sheet

If you're dealing with debt, getting calls from debt collectors can be unnerving. Use some basic tips for handling those calls with ease. Take advantage of resources to find credit counseling agencies [more…]

Things Debt Collectors Can't Do

Getting a call from debt collector can be unnerving, especially when they start pressuring you into paying more than you think you can afford. You have rights as a consumer when debt collectors call as [more…]

Improve Your Credit Score: Tips for Canadians

In Canada, your credit score plays a major role in your financial health, influencing everything from your mortgage rate and insurance rates to the interest rates you’ll be able to get on a credit card [more…]

How to Wipe Out Credit Card Debt

When you’re ready to eliminate your credit card debt, you can take one of two approaches: pay off the card with the highest balance first, which allows you to save on interest in the long-run, or pay off [more…]

Borrowing Money for Your Child's College Education

After you've tapped out all other options, borrowing money to pay for college is your last resort. Your student should exhaust her borrowing options before you consider taking on any debt to pay for her [more…]

How Disease Can Bankrupt a Family

Money isn’t always easy to talk about. The author shares details about herpersonal finances and her life.

Four years ago — seven days after my 30th birthday, and three months before my only daughter turned [more…]

Loans to Avoid When Looking for Financial Help

If you don’t have enough money to pay all your living expenses and debts, do not take out a loan that will compound your financial problems. Although personal loans may give you temporary financial relief [more…]

8 Debt Collection Mistakes Not to Make

You think you’re on top of things . . . and then the phone rings. A debt collection agency claims that you owe them money. What do you do? Or perhaps the bigger question should be: “what do you [more…]

Debt Repair Kit For Dummies Cheat Sheet

Avoiding debt and establishing a good credit standing play an important role in the lives of Australians. Today, the rewards for being a consumer of good credit standing have never been greater, but, unfortunately [more…]

Contacting the Big-Three Credit Bureaus for Your Credit Report

Examining your credit reports closely is important because the reports may contain errors, and those errors can affect what interest rates you receive, what jobs or promotions you get, and how much you [more…]

How to Handle an Overdue Mortgage

Falling behind on your mortgage payments can put you in a financial bind and, in the worst-case scenario, can lead to foreclosure. It’s essential to act quickly, even if you’re uncomfortable doing so. [more…]

What Makes Up Your Credit Score

The two major credit scoring models are FICO and VantageScore. The FICO score is better known, but VantageScore is gaining in usage every year. The components and weightings that are used to calculate [more…]

8 Tips for a Top Credit Score

Building good credit takes time. Follow these tips to get a great credit score the first time around or, if you’ve made some mistakes, to recover in the shortest time possible. [more…]

Credit Repair Kit For Dummies Cheat Sheet

Repairing your credit and keeping it in good standing is easier if you know what’s in your credit reports. Get a free copy of each of your credit reports every year and promptly correct any errors. Improving [more…]

10 Tips for Achieving Stellar Credit

Having good credit is easy if you understand the rules. If you follow ten simple tips, you’re well on your way to the credit of your dreams. Stellar credit doesn’t happen overnight, but it doesn’t take [more…]

The Face of Notes Payable

Face is the easiest type of note to account for. With this type of note, the present value of the note payable is the same as its face, which is the amount stated on the note. [more…]

No-Face, No-Interest Notes Payable

A no-face, no-interest note payable is issued for the present value of the amount the borrower receives from the lender, which is less than the face value [more…]

No-Face, Interest Bearing Notes Payable

Now that you’ve tackled zero-interest-bearing notes payables, you can dig into interest-bearing notes. Assume that a note payable has a stated (face) interest rate of 6 percent. At that stated rate, interest [more…]

Mortgages Payable

The most common type of note payable is a mortgage, which is used to finance the purchase of real property assets such as land and buildings. The property [more…]

Valuing Bonds Payable

A company can issue bonds either at face value (also known as par value), which is the principal amount printed on the bond; at a discount, which is less than face value; or at a [more…]

How to Figure Out the Present Value of a Bond

In many ways, the present value process is the same as the concepts used for notes payable. Assume a company issues a $100,000 bond due in four years paying seven percent interest annually at year-end. [more…]

Bonds Issued at Face Value

Bonds issued at face value are one of the easiest type of bond transaction to account for. The journal entry to record bonds that a company issues at face value is to debit cash and credit bonds payable [more…]

How to Deal with Deficiencies to Repair Your Credit

When all is said and done and you’ve already taken the hit to your credit, you may still owe some money. If your home sells for less than the amount you still owe on the mortgage, plus fees, then you may [more…]

How to Maintain Good Credit Throughout Life

Your credit report presents a financial snapshot of your life…so far. As your life changes, your credit report changes, too. If your life is filled with positives like a steady job, a good income, controlled [more…]

How to Use a Cosigner to Raise Your Credit Score

Getting a loan and raising your credit score by having someone cosign for you is a triple-edged sword. Cosigning means that another party (usually a person with better credit) signs alongside you to guarantee [more…]


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