Tayne Law Group

Category: Credit Cards

  • Why Your Credit Score May Drop after Paying off Debt

    Why Your Credit Score May Drop after Paying off Debt

    Paying off a loan or credit card balance is a big accomplishment. But you might not feel like celebrating if you check your credit score, only to find that it’s dropped after knocking out that debt. After all, your creditors want to be paid back, so why would you be penalized? Before you get too […]

  • Can You Inherit Debt of a Parent or Spouse? What to Know Before Making Any Payments

    Can You Inherit Debt of a Parent or Spouse? What to Know Before Making Any Payments

    If your parents or spouse has recently passed away, you may stand to inherit some things from them. However, one thing that you do not want to inherit is their debt. With that in mind, we have decided to answer the question, “Can you inherit debt?” Keep reading to learn when you might be on […]

  • How to Rebuild Credit after Bankruptcy

    How to Rebuild Credit after Bankruptcy

    Improving your credit score after bankruptcy is no small feat, but it can be done. All it takes is a bit of hard work and perseverance. With that said, below is a practical guide on how to rebuild credit after bankruptcy. If you follow the steps below, you can eventually see your score start to […]

  • Can You Buy a House with Credit Card Debt?

    Can You Buy a House with Credit Card Debt?

    Per the latest numbers from Debt.org, the average American household carried $5,315 worth of credit card debt in the fourth quarter of 2020. With numbers like those, it’s no surprise that many would-be-homebuyers wonder, “Can you buy a house with credit card debt?” The short answer is, yes, it is possible to buy a house […]

  • How Does Debt Consolidation Work?

    How Does Debt Consolidation Work?

    While many borrowers may have heard of debt consolidation as a strategy for paying down debt faster, few people have an idea of how to answer the question “How does debt consolidation work?” With that in mind, we’ve created a primer on the subject below. Keep reading to learn more about how consolidating your debt […]

  • Charged-Off as Bad Debt: What Does it Mean?

    Charged-Off as Bad Debt: What Does it Mean?

    Missing a payment won’t impact your credit score, as long as you get caught up within 30 days. After that, though, the delinquency can damage your credit. If you keep ignoring your payments, your credit account could get charged-off as bad debt. At a glance, you might think that having payments charged-off as bad debt […]

  • Do Debt Management Plans Work?

    Do Debt Management Plans Work?

    If you’re struggling with credit card debt, you may be considering different ways to address it. During your research, you may have come across debt management plans. But do debt management plans work? And how can they help you achieve your goal of becoming debt-free?

  • Does Debt Consolidation Hurt Your Credit?

    Does Debt Consolidation Hurt Your Credit?

    Consolidating debt can have a significant positive impact on your finances, especially if it helps you pay down your debt more quickly and with interest savings. But you may be wondering, “Does debt consolidation hurt your credit score?”

  • Q&A: Can Creditors Garnish My Wages?

    Q&A: Can Creditors Garnish My Wages?

    Do you have a judgment on one of your past due accounts and now creditors are saying they will garnish your wages?

  • How to Settle Credit Card Debt (Before Going to Court)

    How to Settle Credit Card Debt (Before Going to Court)

    When you borrow money from a creditor, you have a legal obligation to repay it. As a result, having unpaid credit card debt can lead to a lawsuit.