By W D Adkins
You aren't going to have a good credit score if you declare bankruptcy, but it's not the end of your ability to use credit. There is no exact answer for how high you can get your FICO score with a bankruptcy. But with consistent effort, you can raise your FICO score in 2 or 3 years to a point that allows you to get credit at a reasonable interest rate. It's important for a person...
By J. Paventi
Credit cards are the tangible proof of a line of credit extended by a bank. As part of the terms and conditions of the credit line, the bank has the right to charge interest on an annual basis. The interest rate, or annual percentage rate, is based on the prime rate set by the Federal Reserve plus the bank's desired rate of interest. That desired addition is based on the borrower's credit ...
By Jeannie Knudson
When people are in debt and find that they can no longer pay their monthly bills, credit card debt is usually the first bill defaulted on. People become strapped for cash for various reasons, including job loss, medical bills or poor money management. There are repercussions when someone doesn't pay credit card debt and the effects of letting credit card debt go unpaid can affect not only...