Debt

Is all debt bad? Is any debt good? How you perceive debt, and how it affects your credit, depends on many factors, including how much debt you have, how well you’re able to pay it, and the kind of debt. Too much debt is bad if it leaves you struggling to pay your monthly bills and affects your credit utilization ratio.

You have many options for dealing with debt and managing its impact on your credit. Explore to find out the impact of debt consolidation on your credit, how your spouse’s debt can impact your own credit, and whether or not you can remove existing debt from a bankruptcy.

What If I Can’t Pay Back a Payday Loan?

March 23, 2017

Dear Experian, I had a payday loan I took out in 2011. I became unable to work and had to have surgery in 2012. I began attempting to repair...

Can I Apply for Credit Cards After Declaring Bankruptcy?

March 8, 2017

Dear Experian, Can I apply for credit cards after declaring bankruptcy? What kind of credit card might I qualify for? I am trying to rebuild my credit. – GSP...

What Happens If I Don’t Pay My Credit Card Bill?

February 23, 2017

Dear Experian, What would happen if I didn’t pay my credit card bill, but I pay all my other bills on time every month? Would it still hurt my...

Can You Negotiate Credit Card Debt?

February 16, 2017

Dear Experian, I am completely overextended with credit card debt but pay my bills on time. If I call a credit card company and negotiate a settlement or lower...

I’m Thinking About Consolidating My Debt. Is That a Good Idea?

February 9, 2017

Dear Experian, Is it a good idea to obtain a personal loan to consolidate or pay off credit card debt? I currently pay approximately $800 a month to credit...

Can You Pay Your Student Loans with a Credit Card?

February 7, 2017

Dear Experian, I am on disability income but have not yet been able to get my student loans forgiven. If am unable to get them forgiven, can I take...

Does Applying for Credit Cards Hurt Your Credit?

February 2, 2017

Dear Experian, Do credit card inquiries hurt you long-term? If I apply for credit and am denied, how many points will my score drop? – PYL Dear PYL, It’s...

What Does “Account Closed at Credit Grantor’s Request” Mean on My Credit Report?

January 26, 2017

Dear Experian, I have an account listed as “Closed – Account closed at Credit Grantor’s Request.” What does this mean? I was never late on any payment for this...

I Have a Credit Card I No Longer Use. Is It Bad to Close a Credit Card?

January 19, 2017

Dear Experian, Does closing a credit card account that I don’t use hurt my credit? – TMY Dear TMY, Yes, closing a credit card account you no longer use...

How Long Do Collections Stay on Your Credit Report?

January 10, 2017

Dear Experian, How long does it take for a collection to be deleted from my credit report? – SMQ Dear SMQ, Your credit report is a history of all...

How to Find Out What You Have in Collections

December 15, 2016

Dear Experian, When I checked my credit report through an online service, my report showed that I had nothing in collections. When a bank that I went to pulled...

How Will Using My Credit Card for Large Purchases Affect My Credit?

December 8, 2016

Dear Experian, If I have an introductory zero-interest window on a new credit card (15 months), and I use that card to pay off a home renovation – will...