Credit Score

Friday’s need-to-know money news

September 5, 2014 By Liz Weston

Today’s top story: The easy solution to our retirement savings crisis. Also in the news: How to supercharge your retirement savings, how long credit flaws will stay on your report, and why it’s time to start saving for the holidays.

Our Retirement Savings Crisis—and the Easy Solution
A slight bump in savings rates could be a game changer.

6 Tools to Supercharge Retirement Savings
Where to find the aforementioned bump.

How Long Different Credit Flaws Stay on Your Report
Find out how long that late payment will linger.

You Need to Start Saving for Your Holiday Budget Now
The holidays are right around the corner.

Three Money Disruptors Making Your Financial Nightmares Less Scary
Tech disruptors are making our financial lives a bit easier.

Friday’s need-to-know money news

August 22, 2014 By Liz Weston

Today’s top story: What you should be teaching your kids about retirement. Also in the news: Why there’s more to your credit than just paying your cards, tips on how to prevent financial insomnia, and the long term damage of identity theft.

4 Things to Teach Your Kids About Retirement
Getting on the right path for the future.

You Can Pay Your Credit Cards & Still Wreck Your Credit
Why timing is important.

6 Financial Moves to Prevent Sleepless Nights
You need your rest.

Identity Theft Causes Years Of Financial Damage
How to prevent it.

Personal-Finance Hack Courtesy of Harvard
Without the price of an Ivy League education!

Friday’s need-to-know money news

August 8, 2014 By Liz Weston

Today’s top story: Introducing the new FICO score. Also in the news: What you need to know before car shopping, the best credit cards for earning rewards, and tips on how to supercharge your savings.

The New FICO Score: Better for Debtors?
Medical collection debt will no longer count against your score.

3 Tricks Car Salesmen Use that Everyone Should Know How to Handle
Don’t be caught off guard while car shopping.

The Best Credit Cards for Earning Rewards
Getting the most bang for your buck.

10 Tips To Supercharge Your Savings
Giving your savings a much needed boost.

Tuesday’s need-to-know money news

August 5, 2014 By Liz Weston

Today’s top story: Why it’s so important to talk to your kids about money. Also in the news: Credit scores versus credit reports when buying a home, scary facts about delinquent debt, and a single parent’s guide to budgeting.

Dear Parents: You Need to Teach Your Kids About Money
One of the most valuable things you’ll ever teach your kids.

Credit Scores vs. Credit Reports
Which is more important when buying a home?

3 Scary Facts About Delinquent Debt and What You Should Do
Ignoring it is a huge mistake.

A Single Parent’s Guide to Budgeting
Making things work for your family.

What it Costs to Retire in 12 Great Places
Where would you like to end up?

Q&A: Bankruptcy and credit reports

June 29, 2014 By Liz Weston

Dear Liz: In February 2015, it will be seven years since my bankruptcy. I have worked hard to rebuild my credit, and my credit score is 735. What do I need to do to make sure my bankruptcy drops off at the seven-year mark?

Answer: By federal law, most negative marks must be removed from credit reports after seven years — but bankruptcy is one of the exceptions. A Chapter 7 bankruptcy, which is the most common, can stay on your reports for up to 10 years from the date you filed. Chapter 13 bankruptcies are typically dropped after seven years. In either case, you shouldn’t need to do anything. Credit bureaus should delete the information automatically. If they don’t, contact the bureaus and request the deletion, but that usually isn’t necessary.

If you have to live with bankruptcy on your reports for a few more years, you shouldn’t be discouraged. It seems you’ve done a good job rebuilding your credit, and your scores should continue to rise as long as you handle credit responsibly.

Thursday’s need to know money news

June 19, 2014 By Liz Weston

Today’s top story: How paying off your student loans could actually lower your credit score. Also in the news: What to expect from the Social Security Administration’s new strategy, how you could benefit from a financial pro, and why millennials still aren’t saving enough money.