June 2008

IMPORTANT: Do You Know The Difference Between A FACO Score (Or FAKO Score) vs A FICO Score?

February 5, 2018June 30, 2008 by Andrea Hermitt

Everyone who uses credit knows what a FICO score is, but have you heard of a FAKO score?

FAKO scores are very similar to FICO stores in that they evaluate the creditworthiness of a person. But the term FACO (or FAKO) is used to indicate that the scoring system is not a Fair Isaac Corp (FICO) score, but rather a non-Fair Isaac Corp score.

In short, FAKO is a nickname that means fake FICO. Unfortunately, thanks to creative marketing, when people receive a credit score, they often don’t realize that the score they’re looking at in a credit report is actually a FACO score, rather than a FICO score.

Here’s what to look for, and how to tell if the credit score you receive is a legit FICO score, or a fake FACO score.

Debt Collection Help: Tips For Dealing With Debt Collectors & Debt Collection Agencies

February 5, 2018June 16, 2008 by Andrea Hermitt

If you are deep in debt and your phone is ringing all day with calls from debt collectors and collection agencies, you are not alone.

Thanks to the gas crisis, the housing crisis, and constantly rising food costs, a lot of people are dealing with debt collectors on a daily basis.

If you’re looking for some debt collection help, including tips for dealing with debt collectors who are harassing you, I’ve got some advice. You see, I have been through all of this myself, so I know how to deal with recovering from debt and dealing with debt collectors.

Been there, done that!

Choosing Between A High Credit Score And Being Debt Free

February 5, 2018June 14, 2008 by Andrea Hermitt

Once you’re in debt, it’s difficult to get out of debt — especially while protecting your credit score at the same time.

I happen to believe that it’s worth it to let your credit score suffer a bit in order to dig yourself from under the weight of oppressive debt. It’s best to worry about your credit score later.

Here’s why…

Health Insurance: If You Don’t Pay For It Now, You Will Pay Dearly For It Later

June 30, 2018June 12, 2008 by Andrea Hermitt

In 2006, there were approximately 47 million uninsured Americans.

Considering the significant number of lost jobs and the current housing crisis, you can imagine how much that number has grown.

Among those who have to pay for health insurance on their own, it’s not uncommon for the health insurance bill to be ranked very low on the list of monthly bills that have to be paid. After all, it makes more sense to put the immediate need (to keep a roof over your head) first, as opposed to paying for unforeseen expenses (like hospital or doctor bills).

If you’re self-insured (which means you pay for health care expenses out of your own pocket as they arise; also called "self-pay"), or you’re uninsured (which means you haven’t gotten around to signing up with a health care provider and paying the bills yourself, rather than your employer paying for health insurance for you), then you are most likely under the assumption that you will be able to cover whatever health care costs might arise — if and when they occur.

Here are some reasons to think twice about this strategy…

Should You Bundle Your Utilities Or Not? I Did…

February 5, 2018June 10, 2008 by Andrea Hermitt

I finally bundled my utilities.

I didn’t want to do it. In fact, I fought it for many years.

Much like my initial reaction to customer reward cards, I felt like there was something sinister about giving one company so much control. After a year or so of not using consumer reward cards, I eventually gave in to the fact that using them — in exchange for allowing stores to analyze my purchases — would save me a great deal of money.

Likewise, I have come to the realization that bundling my utilities would also save me a great deal of money.

Can You Really Get A Credit Report For Free?

February 5, 2018June 8, 2008 by Andrea Hermitt

I have to admit it. The company did an excellent job getting the URL into my head.

I don’t know if it was the commercial of the guys in the car with “legs sticking the vinyl and his posse getting laughed at“, or the guy in the restaurant “selling fish to tourists in T-shirts” but they certainly got the message across.

However, I started hearing reports that FreeCreditReport.com is not as free as the commercials say.

So I decided to investigate the claims for myself…

Do You Have A Will? Here’s How To Write A Will + FREE Online Will Forms

April 20, 2024June 6, 2008 by Lynnette Walczak

Don’t have a will yet?

If you’re uncertain about how to write a will, then you’ll appreciate the following FREE resources for writing a will yourself.

These are the times when you need to write (or revise) your will:

When you get married.
If you get divorced.
If you become separated from your spouse.
When you have children under the age of 18.

Buying A New Car? 6 Reasons To Pay Cash Rather Than Financing Your Next Vehicle

March 26, 2020June 4, 2008 by Andrea Hermitt

Your car is a few years old and you are dreaming about a new vehicle…

If you’re considering its trade-in value and trying to decide how much the monthly payment on your new car should be, chances are you’re moving a bit too fast.

Why? Because you really should be thinking about hanging onto the car you have — just long enough to save your money and pay for your next car with cash.