Month: July 2019

July 24, 2019 Jonathan Gavalas

Fraud and identity theft are a big problem for consumers. More than one million U.S. consumers are victims of fraud each year and more than 250,000 are victims of identity theft, according to data compiled by the U.S. Census Bureau. Credit-related fraud usually occurs when someone uses your existing credit card accounts to make purchases. These criminals…

July 24, 2019 Jonathan Gavalas

Did you know that your financial struggles could be putting your health at risk? A recent survey conducted by The Harris Poll on behalf of the American Psychological Association revealed that 1 in 5 Americans have either thought about skipping, or have skipped, a visit to the doctor because of financial concerns. Moreover, those who…

July 24, 2019 Jonathan Gavalas

  You did everything you could to avoid it. You cut back on spending. You sold stuff to make payments. You’ve been eating rice and beans for months now. But even with all the work, you’ve come to one painful conclusion—you may need to file bankruptcy. Bankruptcy is confusing, not to mention emotionally devastating. It’s…

July 5, 2019 Jonathan Gavalas

Under most scoring models, credit scores (also known as a FICO score) range from 300 to 850. The higher the number, the better a person’s credit – it implies that the person is a lower risk to a lender. The score is calculated using a credit report that gathers data on your current and past…

July 5, 2019 Jonathan Gavalas

Not all Credit Scores are the same. Anyone taking advantage of the increased access to free credit scores will soon realize that credit scores vary depending on the source. In September 2013 FICO changed its policy and began allowing lenders to share credit scoring data with consumers under their Open Access Program. Prior to this…

July 5, 2019 Jonathan Gavalas

Regardless of our age, we’ve heard, read, or even seen movies about The Great Depression, which began in 1929 and continued until the late 1930’s. And although The Great Depression had its origins in the United States, it was global in nature—causing a severe worldwide economic downturn. Unemployment, for example, rose above 30% in some…