Question:
I have four Visa credit cards. Three of them have a
balance of about $200 bucks each and one Visa card has
a balance of $3,500. All the interest rates are about the same.
I came into a little windfall and have $1,500. to apply to
my cards. Which would make more sense. Apply the total
$1,500 to the […]

Question:
I’m engaged to be married in the next six months.
My credit rating is good, but my fiancé’s credit is really bad.
How will that affect my credit?
When we do get married, how will her poor credit affect our ability
to purchase a home and get a mortgage?
Can creditors come after me for her debts?
Answer:
Fortunately for you, your […]

Question:
I am thinking of going to a credit counseling program to consolidate my debt.
I have been making my minimum payments on time so far. My credit is still good,
but the bills have gotten out of control and I won’t be able to keep it up much longer.

How will a credit counseling program affect my credit?
Answer:
You’ve […]

Question:
What is the quickest way to improve my FICO credit score?
Answer:
Most people know that paying their bills on time is important if you want
a good credit score. But paying your bills on time is not always enough
to ensure a strong credit score.
The median FICO credit score is 723.
But FICO scores above 760 are ideal […]

Question:I have a credit card with a balance of Ten Thousand Dollars
at 5.99 percent APR. I used it to pay tuition, books, and
expenses to help my daughter through college.
I have applied for a Sallie Mae loan to help pay for my
her education. Should I use the Parent Plus Loan to consolidate
my credit card debt?How will […]

Question:
I have a pretty good credit history. I am thinking about adding my daughter
as a joint account holder with me since she doesn’t have any credit history.
How will her credit affect my credit report?
Would it be better if I cosigned a credit card for her?
If she screws up and misses a payment, how long would […]

Today is the 1 year anniversary of when I started this blog.
Congratulations to me!
I originally started this blog telling about my inappropriate use
of credit years ago when I was a young college student.
I have covered many different topics since that first day.
I’m now coming full-circle and will start talking about credit once again.

Question:

I fell behind […]

A PLUS Loan sounds like just what I need for my child.
What are the eligibility requirements for PLUS Loans?
PLUS applicants must meet the general eligibility requirements
for the federal student financial aid.
If a parent is borrowing on behalf of a dependent undergraduate student,
the student must also meet the following general eligibility requirements:
The PLUS applicant and the student […]

Studies show that two-thirds of students have significant
student loan debt coming out of college.
Ten percent of them owe $35,000 or more.
Are you one of them?
If so, don’t worry. This blog is designed for you to get back
control of your finances.

My name is Carl Willoughby.

I was a licensed agent and Registered Representative
with the Prudential Insurance Company.
I […]

How often should you check your credit report?
It is a good idea to request a copy of your credit report
annually. Ensure that no errors exist. Resolve errors that do exist.
If you find any information that appears to be incorrect,
you should contact the credit reporting agency.
Unfortunately, errors can occur in your credit report.
To learn more about […]