Beware of the Credit Traps

The reports of snail mail’s death have been greatly exaggerated! Why? Just look at all those offers for credit or personal loans that show up. You can also turn on Sirius XM radio and get a steady dose of commercials touting online lending offers. While most are legitimate and can actually help, some are traps. [...]

By | 2019-02-18T16:39:53-05:00 July 10th, 2018|SweetPay|0 Comments

The Risk of Rising Rates

It was bound to happen. For many years, we’ve been benefitting (unless you’re a saver) from low interest rates the Federal Reserve has engineered to help prop up the economy following the Great Recession. Low interest rates meant low borrowing cost. But, what goes down, must go up (take that Sir Isaac!) If you applied [...]

By | 2019-02-18T16:35:50-05:00 June 22nd, 2018|SweetPay|0 Comments

The Consumer Credit Chess Match

In the good ‘ol days, we had a nice neat hierarchical order to the credit lending – a prime lender, near-prime lender, and subprime lender. Well, those days are gone! Consumer finance (and even patient finance) lending has morphed and the lines have blurred. Today, you see traditional prime lenders “digging deeper” or approving lower [...]

By | 2019-02-18T16:32:36-05:00 June 7th, 2018|SweetPay|0 Comments

Credit Decisions for Dummies

Let me be clear - In no way are you a dummy! But, how credit decisions are made by a bank or lender can make you dumbfounded. While every person’s credit report has similar data categories – credit limits, account balance, monthly payments, credit inquiries, etc. – what a bank looks at when considering issuing [...]

By | 2019-02-18T16:28:40-05:00 May 19th, 2018|SweetPay|0 Comments

The color of money and why you should care

The phrase, “Color of Money” is most commonly synonymous with the 1986 movie starring Paul Newman and Tom Cruise, but is considered to be a phrase used way back when to see what type of money someone actually had – that they were good for whatever the need was. Money comes in many forms. What [...]

By | 2019-02-18T16:18:01-05:00 May 9th, 2018|SweetPay|0 Comments

Making sense of all the rising debt chatter

Some journalists have been sounding the rising debt alarm bell. While I’m not worried about current debt levels, I do take solace in the concerns being raised, as there was none of that pre-2008. What I will attempt to do in this post is to break household debt down for you.  The Federal Reserve Bank [...]

By | 2019-02-18T16:19:15-05:00 March 30th, 2018|SweetPay|0 Comments

One sure way to lower your interest payments

So, your credit score is nothing to write home about and you really need (or want) that large purchase. You can fit a personal loan payment in to your monthly budget, and making timely debt payments helps to improve that credit score, so that you can eventually write home about it! But, you cringe at [...]

By | 2019-02-18T15:31:15-05:00 March 13th, 2018|SweetPay|0 Comments

Personal Loan Marketplace Study

Key takeaways from a personal loan marketplace study Supermoney put out a detailed and well discussed state of the personal loan marketplace.  Key take-aways from the study are as follows: The consumer lending market is a favorite source of credit for millions of consumers and it’s growing. Household expenses, debt consolidation, and medical expenses are [...]

By | 2019-02-18T15:13:17-05:00 February 12th, 2018|SweetPay|3 Comments