RECENT BLOG POSTS
The Difference Between Default and Bankruptcy: Rarely does a person file for bankruptcy without already having defaulted on at least one credit account. So, if a person defaults on an account, meaning they have failed to repay it as agreed, they have taken the first slippery step toward bankruptc...
02/15/2010
Here we will show you how to accomplish more than simply stopping a bill collector's calls. In many instances, mistakes made by bill collectors can not only make them stop calling, but even cause your account to be cleared and closed out. The Consumer Protection Act governs the activities of coll...
02/08/2010
  Believe it or not, a Short Sale does not have to be a negative occurrence on your credit report.  On the other hand, a foreclosure ranks up there just under a Bankruptcy, which is an extremely negative occurrence on your credit. Let’s talk about how these two affect your credit. How Many Points...
02/05/2010
The simplest way to avoid a credit card charge-off is to learn and understand the credit card system. Here are some tips: Sending Credit Card Payments Through The Mail: Some credit card companies actually require you to use their own preprinted envelopes, but even if they do not, it is a good ide...
01/26/2010
    Like so many of you, I too have had my share of financial problems the past couple years.  During the good times, I got a little overzealous and purchased a 2nd home and a seasonal vacation rental.  Basically this meant that I had 3 mortgage payments and the rental income I received only cove...
01/11/2010
  Attempting to establish good credit is a task that takes a little effort, a lot of time, and can even cost some money! In order to establish good credit you have to use credit, and this almost always means incurring an interest charge. Fortunately, you can use these strategies to keep your inte...
01/05/2010
  Getting Rid of Student Loans - The Cold Hard Facts Did you know that taking out a Federal Student Loan is just as real as taking out an auto loan or a home loan?  Because it’s backed by the Federal Government, they won’t let you declare bankruptcy to get rid of it, nor will they let you off the...
07/23/2009
  Once you have gone through the initial process of disputing negative items on your credit and have gotten the results back from the credit bureaus, you may find that you have some negative items remaining that should be dealt with. Deal With Each Negative Item Individually It is very important ...
07/13/2009
  I came across this question, “Can I sue a car dealer for excessive hard credit inquiries?” when reviewing search terms on my blog and thought this is a good topic for further discussion. First Of All, What Is A Hard Inquiry? There are two types of credit inquiries, hard and soft.  A hard inquir...
07/13/2009
  A Loan Modification is a negotiation between a lender and a borrower whereas the loan terms are restructured without refinancing.  The rate and terms of the loan are restructured to fit the current financial situation of the borrower. Banks and lenders would rather take less money and keep home...
06/15/2009
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Taylor McKenzie

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We’re facing a whole new world of “Credit Rules” now. More people than ever before need help understanding how credit scores work, what affects them, and what to do to put themselves in a better situation. Credit Trauma is here to give you the education that you need in all aspects of your life. The more you know, the more empowered you’re going to be.