How is a Credit Score Calculated: Chapter 3 – Payment History

How is a Credit Score Calculated: Chapter 3 – Payment History Effect On Score The topic of this chapter is not surprising.  Your credit score relies heavily on your payment history.  Obviously the more consistently you make your payments on time, the more you show your creditworthiness.  When you miss payments, it’s the responsibility of the creditor to report those missed payments to …

How is A Credit Score Calculated – Chapter 2: Credit Inquires

This next chapter is on the effect of credit inquires on your credit. What is a Credit Inquiry? Every time you apply for any sort of credit, that company will request your credit history with the three bureaus. That is a credit inquiry.   Looking for new credit is equated with a higher risk. Most people who look for more …

Holiday News December 18, 2015.

THANKSGIVING DUI STATS. SD police arrested 44 DUIS between Wednesday November 25, 2015, 6:00pm and November 28, 2015, 6:00am, which was one down from last year of 45. State wide there was 618 DUI arrests and 14 deaths. Source: CBS8.  If you find yourself with a DUI during the Christmas break, click here to read what to do. INCREASE IN …

Drunk? Park it!

  If you are drunk and in your car with your keys, it is NOT a DUI.  If you need to take a nap to sober up, you can do it in your car, just make sure you are parked legally! The vehicle code defines a DUI as, “It is unlawful for a person who is under the influence of …

WARNING: Pay day loans are like legal loan sharks.

  Lately, pay day loans have been the common reason people find themselves in need of a bankruptcy.    Typically the story is the same, life happens and someone needs money quick.  They can’t use their credit card because they are maxed out.  Their only other option is a pay day loan.  They are warned about the compounding interest but they …

SLG is Sponsoring the 2nd Annual Baconfest!

Who doesn’t get excited when they hear the familiar sizzling and the aroma of BACON!  I know I do!!!  That is why Seneca Law Group is sponsoring the 2nd Annual Baconfest!  It will be on August 30, 2014 from 2:00 pm – 5:00pm (VIP gets to enter at 1:00pm before general admission).  It will be at Preble Field – NTC Park at …

If I am married, but I am the only one with credit card debt and my spouse has perfect credit, do we both have to file?

I get this question a lot.  Especially at the point at which a couple decides that it is time to purchase a home, but one spouse has perfect credit while the other has far from perfect credit.  When purchasing a home, it’s more beneficial that both spouses have good credit so that you can obtain the best rates possible. So …

How does Bankruptcy Effect My Credit?

I get this questions a lot, “How will bankruptcy effect my credit.” Generally, the old rule has been that it will affect your credit in terms of getting a credit card or loan for approximately four years and seven years for purchasing a home. Effect, meaning that they lender will weigh the bankruptcy against you. Times however have changed because …

Relief For Homeowners???

Recently, the Federal Government has instituted 2  programs to assist home owners who have lost their homes or are struggling to stay in their homes that are often underwater.   Independent Foreclosure Review Information on this can be found at http://www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm   This program is being overseen by the Federal Reserve and covers any foreclosure actions that occurred in 2009 …