If your in debt, you must devise some plan to get out of the red. You can declare bankruptcy (Chapter 13 or Chapter 7), but that will tarnish your credit and financial records. An alternative is the wage earner plan — which allows you to meet your debts methodically without bankruptcy.

One of the major casualties of divorce is the damage incurred to both party’s credit. Not only do you incur the expense of divorce proceedings and attorneys, but divorce can send you spiraling into bankruptcy. Until your former spouse’s information is completely irradiated from your credit file, his or her mistakes with money can also reflect on your credit score. This is why it is advisable to take the following steps sooner rather than later.

While on a shopping spree, you open credit-card accounts at several of your favorite department stores to snap up discounts of 10% or 15%. You’re saving a bundle, but you may be chipping away at your credit score.

Home mortgage loans for people with poor credit are available at reasonable rates if you find the right lender. With some time spent online researching for low credit score lenders, you can base your financing decision on loan estimate numbers. Even with bad credit, you can find flexible terms, so you can find the right home loan for your budget.

There are many advantages to having a good credit score. Qualifying for lower interest rates, ability to get approved for loans and lines of credit, and paying less on loans for items such as homes and automobiles to name a few.