Self-Help Articles

A Thin Credit File: What It Is and What You Can Do About It

When Wallis Simpson, the Duchess of Windsor, said, “You can never be too rich or too thin,” she was obviously not talking about credit files. In fact, a thin credit file is not at all attractive, especially to potential creditors. But how can you know if...

Reestablish Your Emergency Fund in 4 Steps

Reestablish your emergency fund in 4 steps. Was it an emergency appendectomy that landed you in the hospital? Or burst water pipes that flooded your basement? Or a fender-bender that resulted in some costly repairs? Whatever the reason, you tapped into your emergency fund to...

Understanding Your Credit Card Statement

If you have a credit card, you surely know that you receive a monthly billing statement with all the information you need to know about the current status of your credit card account. Whether it comes hard-copy in the mail or electronically via email, you’ll...

How to Save for Big Ticket Items

Too often, when faced with the need to make a major purchase, we find ourselves having to turn to consumer debt to fully pay for it. Due to lack of planning or unexpected timing, these one-time big expenses often end up costing big money for...

How Debt Management Plans Affect Your Credit

How debt management plans affect your credit: When it comes to paying off a lot of debt, few methods are as efficient and effective as a debt management plan. While it’s one of the more extreme measures, in many ways, it can also be a...

What To Do When the Mortgage Struggle Is Real

Let’s face it, life can throw some real curve balls. That perfect house you bought a few years ago may have started out looking like a dream come true, but now it’s turned into a debt nightmare. If paying the mortgage is keeping you up...

What to Know When a Debt Collector Calls

Debt collectors are third-party businesses hired by creditors to collect unpaid debts. Some companies buy past-due debts from creditors or other businesses and then try to collect them. Say you have a past-due balance with ABCredit; they may hire PQRecovery to collect the debt you...

2 Types of Personal Bankruptcy

Bankruptcy. It’s not a fun topic of conversation, but if personal bankruptcy is something that could be in your future, it’s important to understand what you’re facing. The first thing to understand is that bankruptcy, as scary as it sounds, won’t leave you penniless. On the...

The Hidden Dangers of Credit Card Debt

Credit cards are such a convenience. Don’t like to carry wads of cash? Forgot your checkbook at home? Need quick access to funds? No problem! That little piece of plastic in your wallet solves all those problems. But such convenience has a price. And across the...

How Debt-to-Income Ratio Is Calculated

Debt-to-income ratio (DTI) is one of those financial terms that probably sounds vaguely familiar to you. You know you’ve heard it somewhere before, but you can’t quite remember what it is – or why you should care. The truth is, unless you have applied for...

Click "More" for important American Credit Foundation client transition information