What Happens to my Credit Card Debt?

If you’re like millions of Americans, you have credit card debt—and you may wonder what will happen to the debt upon your demise. Essentially there are two main factors that will determine who is responsible for your credit card debt after you die: whose name or names are on the account and where you live. Whose […]

Should you pay down your home mortgage?

One question that we are frequently asked by our clients at Mentor is whether or not it makes sense to accelerate mortgage pay-ments in order to pay off the loan sooner. This is not as simple as it may seem. Usually we need to answer this question with a few questions of our own. For […]

Get your free credit report

The Fair Credit Reporting Act was amended late in 2004 to require the three major credit reporting agencies to provide you with a free credit report upon request. It’s a good idea to take advantage of this opportunity, so you can verify the accuracy of the information being kept about you and to correct any […]

How your credit score can boost the cost of borrowing

Last month we discussed the value of requesting a free credit report and checking it for errors. But beyond erroneous (or even fraudulent) information, your report contains clues on improving your credit score. The FICO score is named after Fair Isaac Corp., the company that developed and licenses the secret formula that is used almost […]

Time to order free credit reports?

A federal law allows you to receive a free copy of your credit report every 12 months from the three nationwide consumer reporting agencies (Equifax, Experian, and Trans Union). If you haven’t ordered credit reports in the past year, consider doing so now. It’s important to review your credit report regularly to make sure that […]

Save money by raising your Credit Score

Your credit score significantly impacts your finances in many ways –for example, the interest rate you pay on your mortgage, how much your auto insurance premiums are, and whether or not you can even obtain approval for a mortgage or other credit. Your credit scores – which can range from 350 to 850 – are […]