Loans of any kind represent an important part of your credit report, with the time interval, amount of debt incurred and payment history all heavily influencing whether you can borrow again in the future.

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The 6 Ways to Qualify for Mandatory Student Loan Forbearance (and How to Apply)

When you’re having trouble making your federal student loan payments, it can be a...

What Is a Short-Term Personal Loan?

In need of a short-term loan? Don't worry—it's more common than you think. Read...

Understanding HARP Loans

For U.S. homeowners struggling with payments and who are looking for help in refinancing...

What Is a Line of Credit?

A line of credit is a revolving credit account you can use to borrow...

When Is the Best Time to Buy a Car?

When it comes to getting a great deal on a car purchase, experts agree:...

What Is Student Loan Forgiveness?

If you're struggling with student loan debt, find out to learn more about student...

Here’s Everything You Need to Know About Consolidating Your Student Loans

Find out if student loan consolidation may be a good option for your federal...

Can I Get Out of a Car Loan without Ruining My Credit?

If I voluntarily surrender my vehicle and I pay off the settlement...

How Can I Find Out How Much I Owe on My Student Loans?

How would I go about finding who I owe money to for...

Do student loans affect a credit score?

Student loans are a debt obligation just like any other and can affect your...

Does paying off a car loan impact your credit scores?

Paying off your car loan can affect your credit scores. Assuming you paid your...

My Student Loans Were Just Paid in Full. Will This Improve My Credit Score?

Congratulations! Paying off your student loans is a great accomplishment. If you always made...

How to Improve Your Credit Score to Qualify for a Loan

  • Make on-time payments on one or more credit cards or credit accounts, utility bills and medical bills.
  • Maintain low balances on credit cards and other forms of revolving credit.
  • Apply for new credit only as needed, but keep unused credit cards open.
  • Pay off debt rather than move it around.
  • Protect credit accounts from fraud and identity theft.
  • Avoid any financial legal judgments.

How Much Personal Debt Should You Have

As a general rule, your total debt including home, auto, and personal commitments should amount to no more than 36 percent to 41 percent of your monthly income before taxes.

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