Sample Letter to Remove Closed Accounts From Credit Report
A closed credit account is no longer active, meaning that no future transactions can be processed. For example, a credit card holder may choose to close their account if they no longer use the card, have fears of identity theft, or have financial hardship. A misconception exists that closing a credit card or paying off
Personal Income Statement
This article is part of our series about financial literacy. You can find the links to the other articles at the bottom of the article. A personal income statement is a personal financial statement that outlines your income and expenses over a certain period of time, giving you some insight into your financial position. With
Why did my credit score drop for no reason?
Credit scores are calculated using a specific, clearly defined credit scoring model. So while it may appear your score dropped for no reason, it is never random. Something triggered it even though it might not be immediately obvious to you. I will cover 10 possible reasons why your score may seem to drop without cause.
How to Increase Your Credit Score to 800
An 800+ credit score. We would all want to be that one guy in our social circle who is known for being in this elite club. But apart from bragging rights (which, let’s face it, is quite cool), an 800+ score has tangible financial and non-financial benefits. Good thing? It is always within reach. If
A Personal Financial Statement Example – What to Include
A personal financial statement is a document that summarizes an individual’s financial position at a specific moment in time. It typically contains a breakdown of all your assets and liabilities, giving you an insight into your financial position and financial health. Assets are things with economic value that you can turn into cash, such as
How to Write a Goodwill Deletion Letter to Remove Late Payments
When I was fixing my credit, I successfully got a 30-day late payment removed from one of my accounts. Doing this increased my credit score by 50 points. I did it by writing a goodwill deletion letter. Here’s how you can do it too. What a Goodwill Deletion Letter Can Accomplish A goodwill letter is
How To Create A Personal Balance Sheet
This article is part of our series about financial literacy. You can find the links to the other articles at the bottom of the article. Simply put, a personal balance sheet is a document that keeps track of everything that you possess (assets) and every debt that you owe (liabilities). With this personal financial statement,
Good Debt vs. Bad Debt: Know The Difference
This article is part of our series about financial literacy. You can find the links to the other articles at the bottom of the article. As discussed in our article, Dave Ramsey vs. Robert Kiyosaki, not all debt is bad. Debt plays a vital role in the economy. And on a personal level, if you
Dave Ramsey vs. Robert Kiyosaki: Who Should You Listen To?
This article is part of our series about financial literacy. You can find the links to the other articles at the bottom of the article. Dave Ramsey and Robert Kiyosaki are perhaps the most influential personal finance authors of the past 20 years. In many ways, they have differing advice. Which of them is correct?