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Thursday, September 11, 2008

About Credit / Debt Management: Worst Credit and Debt Advice Ever

About.com    Credit / Debt Management
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  from LaToya Irby
I've heard some pretty bad advice when it comes to money. Like, "Just run up all your credit cards then file bankruptcy. You'll get to keep all the goods, but you won't have to pay for them." Never mind that my credit will be shot for the next few years.
 
In the Spotlight
Worst Credit and Debt Advice Ever
I asked some of the About.com Guides what bad advice they'd been given about credit and debt. I got all kinds of responses from "Budget based on the stores where you shop" to "Don't pay your credit card bills to qualify for a mortgage." You wouldn't believe some of the advice that's out there.

 
           More Topics
The One Dollar Minimum Payment Myth
I've heard this one plenty of times: "Send anything to your credit card bill, even if it's just one dollar a month." Find out what will happen if you only make a $1 payment toward your credit card.

 
5 Stupid Ways to Pay off Your Debt
Getting out of debt is a good thing, but there are some bad ways to do it. When you put together a get-out-of-debt plan, make sure your payback methods don't fall on this list.

 
 
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