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Unless you’ve been living in a cave for the last five years or so, you’ve probably been bombarded with advertisements and offers for free credit reports, notes AP9 PrivacyMatters123, a leading membership security program offered by Adaptive Marketing LLC. As important as credit reports are, there’s another piece of related financial data that consumers should keep their eyes on — their credit scores.

AP9 Privacy Matters 123 members can access benefits designed to help them be aware of their credit histories by ordering triple bureau credit reports, credit scores and daily credit monitoring plus much more, at PrivacyMatters.com, an online portal provided by Adaptive Marketing.

While credit reports offer a snapshot of a consumer’s credit history, credit scores provide a measurement that’s far more valuable — to both the consumer and the companies that may do business with the consumer. AP9 PrivacyMatters123 explains why credit scores carry so much weight in today’s economy:

– Credit scores define credit risks. A credit score places a numeric value, ranging from about 400 to about 800, on a person’s credit history. The higher the score, the better, for both consumers and companies. A low score suggests that a person may have serious problems paying off a loan, paying credit card bills on time, even paying monthly rent. A high score, on the other hand, signals that a person has demonstrated fiscal discipline over the years and can be expected to pay off loans and other bills on a timely basis.

– Credit scores help determine interest rates. Credit card and mortgage companies are in the business of offering consumers money that consumers don’t have on hand — with the expectation, of course, that consumers will pay that money back, with interest. Consumers with high credit scores are the most trustworthy and, as such, are more desirable customers, so financial institutions will compete for their business by offering lower interest rates. Consumers with low credit scores are bigger risks, though, so these companies — who still want to do as much business as they can — will “penalize” those consumers with higher interest rates in order to encourage them to pay off their loans or their credit card charges on time. If they fail to pay off these debts on time, consumers then have to pay even more down the road.

– Landlords can access credit scores. Just as mortgage companies don’t want to be left holding the bag on a loan, landlords want to be sure their tenants can afford the lease on an apartment or house. Potential renters with high credit scores have demonstrated an ability to manage their finances; rental applicants with low credit scores haven’t shown that ability and therefore are more likely to renege on their obligations.

– Even employers can check credit scores. Employers are looking for reliable candidates to fill job openings. One way to determine that reliability is financial discipline, which can be measured using credit scores. Applicants with high scores are presumed to be less likely than candidates with low scores are to face financial problems that could prompt them to act unethically.

For more information, visit privacymatters123-program.com

Like losing weight or quitting smoking, paying off debt is a frustrating struggle for many Americans. Credit cards have become a staple of our lifestyle, and consumers are relying on them more and more.

Between 1990 and 2004, the average American household credit card debt increased 167%, according to CreditCards.com.

Without good money management and savings skills, those small little pieces of plastic can lead to big financial problems for consumers. Especially when consumers are relying on their credit cards as a financial safety net to pay for car repairs, medical expenses or rent or housing repairs rather than relying on their savings.

This practice is pushing more and more consumers over the brink and into financial despair.

“People are looking for solutions, and while there is no single magic answer, there are several options available to help consumers to get a handle on their spending habits and pay off their debt,” says Clarky Davis spokesperson for CareOne Credit Counseling services.

What are consumers’ options when dealing with their debt?

• Self-help: This is the best option for consumers who are able to make more than their minimum monthly payments and who want to focus on paying off their debt. This process entails putting yourself on a budget - tracking your spending and not living above your means. Most importantly, pay down your debt (specifically any revolving debt such as credit cards). Establish an emergency fund to handle any unexpected expenses including illness, car problems and loss of job. Don’t forget about saving for your retirement - take advantage of your company’s 401K plan.

• Refinancing Mortgage: Refinancing your home loan at a lower interest rate is great idea if you have equity in your home. But you must also remember to practice good spending habits so you don’t end up in more debt and place your house at risk.

• Debt Management Plan: A debt management plan is for consumers who have more than $2,500 in credit card debt and are no longer able to make their minimum payments. A debt management program is designed to help you get out of debt more quickly than you could on your own. Debt management programs help you become debt-free by:
- Negotiating reduced interest rates
- Consolidating your credit and other types of debt
- Eliminating late fees
- Helping stop calls from collectors

• Debt Resolution Plan: This particular plan is for consumers who cannot pay back their creditors in full but do not want to declare bankruptcy. A debt resolution plan allows you to pay less than you owe. It’s a solution if you can afford some payments, but not enough to be on a Debt Management Plan.

• Bankruptcy: Bankruptcy should be a last resort as it affects your credit for at least 10 years. It should only be an option if you have no other solution.

For more information, visit careonecredit.com

* Like losing weight or quitting smoking, paying off debt is a frustrating struggle for many Americans. Credit cards have become a staple of our lifestyle, and consumers are relying on them more and more.

Between 1990 and 2004, the average American household credit card debt increased 167%, according to CreditCards.com.

Without good money management and savings skills, those small little pieces of plastic can lead to big financial problems for consumers. Especially when consumers are relying on their credit cards as a financial safety net to pay for car repairs, medical expenses or rent or housing repairs rather than relying on their savings.

This practice is pushing more and more consumers over the brink and into financial despair.

“People are looking for solutions, and while there is no single magic answer, there are several options available to help consumers to get a handle on their spending habits and pay off their debt,” says Clarky Davis spokesperson for CareOne Credit Counseling services.

What are consumers’ options when dealing with their debt?

• Self-help: This is the best option for consumers who are able to make more than their minimum monthly payments and who want to focus on paying off their debt. This process entails putting yourself on a budget - tracking your spending and not living above your means. Most importantly, pay down your debt (specifically any revolving debt such as credit cards). Establish an emergency fund to handle any unexpected expenses including illness, car problems and loss of job. Don’t forget about saving for your retirement - take advantage of your company’s 401K plan.

• Refinancing Mortgage: Refinancing your home loan at a lower interest rate is great idea if you have equity in your home. But you must also remember to practice good spending habits so you don’t end up in more debt and place your house at risk.

• Debt Management Plan: A debt management plan is for consumers who have more than $2,500 in credit card debt and are no longer able to make their minimum payments. A debt management program is designed to help you get out of debt more quickly than you could on your own. Debt management programs help you become debt-free by:
- Negotiating reduced interest rates
- Consolidating your credit and other types of debt
- Eliminating late fees
- Helping stop calls from collectors

• Debt Resolution Plan: This particular plan is for consumers who cannot pay back their creditors in full but do not want to declare bankruptcy. A debt resolution plan allows you to pay less than you owe. It’s a solution if you can afford some payments, but not enough to be on a Debt Management Plan.

• Bankruptcy: Bankruptcy should be a last resort as it affects your credit for at least 10 years. It should only be an option if you have no other solution.

For more information, visit careonecredit.com

CreditLearningCenter.com., a consumer website which helps consumers understand and manage personal credit and debt, announced the launch of its new Debt Relief Center. The center explores the various debt relief options available to consumers including Debt Management, Debt Settlement, Debt Consolidation, and Bankruptcy. The information center is available nationwide.

“More and more consumers are struggling to cope with debts and need to understand their debt relief options,” said Walter Burch, Editor-in-Chief of the CreditLearningCenter.com. “Often individuals and families get buried in debt and wait too long before reaching out for debt help. Credit card debt, medical bills, and other unsecured debt is often the cause of great stress and we want people to know they’re not alone.”

Debt Relief through Debt Management, Debt Settlement, Debt Consolidation, and Bankruptcy

The center explores the various debt relief options available to consumers. While Debt Consolidation, Debt Settlement, and Bankruptcy are three debt relief strategies often used by consumers, the center cautions that all should be carefully considered before moving forward.

“Debt Consolidation can help consolidate high interest debt into a more manageable situation, but could end up putting one’s home at risk. Debt Settlement often demands that consumers build up a sizeable settlement amount before consumers see any real benefits. Bankruptcy can provide a fresh start for people, but has long-term effects that should be clearly understood. Debt Management is often a good option that can help individuals get debt relief through working with an accredited credit counseling agency that negotiates lower interest rates, and lower monthly payments for consumers in debt,” summed up Burch.

Consumer’s Guide to Credit Help and Debt Relief

In addition to providing the Debt Relief Center, also has produced The “Consumer’s Guide to Credit Help and Debt Relief” that includes the latest information and regulations regarding credit, debt, collections practices, and bankruptcy.

For more information, visit creditlearningcenter.com