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Credit/Debt

Credit Scores: What is Debt Ratio?

Sunday, 25 April 2010 11:34 Felicia A. Williams Money Matters - Credit/Debt

First let’s start by saying that your debt ratio is different from your debt to income ratio. Your debt ratio is the ratio of the amount of debt you have outstanding to the total amount of debt you have available to you. The lower your debt ratio, the better it is for your credit rating and FICO score.

Timely Bill Payment is Crucial for Improving Credit Score

Saturday, 24 April 2010 10:28 Felicia A. Williams Money Matters - Credit/Debt

Past Due Paying your bills on time is probably one of the most important habits to get into if you want to improve your credit score. As much as 35% of your credit rating is based on your bill payment history. Your credit can take a big hit if you’re constantly late on your bills.

If you’re having a difficult time paying your bills on time, that’s a red flag. It’s time for you to look at your budget to see why you can’t meet the deadline. Is it because you’re over extended? Is it because you have a poor bookkeeping system? Is it because you just forget?

Disputing Errors on Credit Reports

Friday, 16 April 2010 22:12 Felicia A. Williams Money Matters - Credit/Debt

If you reviewed your credit report and found errors on it, it's not the end of the world. The good thing is that you found the errors and now you can get to correct them.

There are actually two methods in which to dispute errors on your credit report. The results are the same, but the way in which you dispute the errors differ. You can dispute errors online or you can dispute the old fashion way through snail mail. Calling the credit reporting agencies to dispute errors on a credit report is not an option; that’s just a recipe for frustration.