Jordan Goodman, Author of “Master Your Debt” and Personal Finance Expert at MoneyAnswers.com, recently appeared on WPIX to discuss how people can get their credit in shape. Among the advice he provided was getting copies of your credit reports and reviewing them thoroughly. This is a critical step as many people have no idea of the information contained in their report. Oftentimes, they come across errors which are costing them dearly by way of higher interest rates. Even worse, you can find that you’re a victim of identity theft. So, be sure to look at your reports at least once a year. To get copies of your reports, visit www.annualcreditreport.com.
Jordan also mentioned getting help from a non-profit credit counseling agency, his favorite among them being Cambridge Credit Counseling. Our counselors help people develop a way out of debt and plan for a bright financial future. We’ve counseled over a 1,000,000 struggling Americans to make ends meet, and our seasoned professionals are at the ready to assist you.
Student loan debt, now totaling over a trillion dollars, is another debt many of us struggle to manage. Jordan recommends consolidating that debt to secure a lower interest rate (and a more comfortable monthly payment.)
To learn more about getting dealing with your debt, you can watch Jordan’s segment here – 5 ways to fix bad credit.
Until Next time, I’m Thomas Fox for Cambridge Credit Counseling.