Monthly Newsletter:

Are you or someone you know struggling with your student loan?

If you’re struggling to pay student loans, you’re not alone. With 45 million total student loan borrowers collectively owing $1.7 trillion of student loan debt, many simply can’t afford this debt. Maybe you lost your job. Maybe your monthly student loan payments are too high. 

 

We may have a solution.  We might be able to help!

 

Living with a student loan is challenging at the best of times. In these unprecedented times many student loan borrowers are struggling more than ever. The current moratorium on student loan payments has been a welcome relief for many. Unfortunately, it will not last forever. 

 

There are several profound reasons a person might deeply resent having to pay their student loan or that of their child. Reasons that go above and beyond the simple fact of disliking debt.

 
  • Some people feel they were misled by their school.
  • Some people struggle so much with their payments that they have to put everything else in their lives on pause just to make ends meet.
  • Some people’s higher education didn’t translate to high income and they’re unsure whether they’ll ever be able to pay down their debt.
  • Some well-intentioned parents are saddled with their child’s debt and feel completely hindered as a result.
 

If you or someone you know can relate to any of these, there is good news.  

 

THD Credit has formed an alliance with an attorney-based student loan contract cancellation and modification service that can help qualified individuals with such hardships.  

 

If you have student loan debt of $30k or more and are interested in having a conversation to see if this is a fit for you, call us at (800) 822-7120 and we’ll make an introduction.

-Erik Kaplan

Will My Spouse’s Debt Affect My Credit Score

Credit reports do not indicate your marital status, nor will they include your spouse’s identity or any account they hold independently.  Therefore, if your partner has bad credit it doesn’t have to drag your credit score down.

 

However, your partner’s credit score could still cause financial challenges for the two of you, especially if you want to borrow a loan or open a credit card together.

 

Here are some things to consider:

 

  • If you have a joint credit account with your spouse, and he or she fails to make payments on-time, the late payments will appear on both of your credit reports and can lower your credit score.
  • Your spouse’s low credit score could impact your application for joint credit, such as a new car loan or a mortgage. The lender may consider the joint loan a risk, which could result in the loan being offered at a higher interest rate or with stricter borrowing terms.
  • Even if you aren’t late on a bill, a joint account can still hurt your credit score if the credit utilization is not optimally managed. Remember, the ideal balance shouldn’t be higher than 30% of the credit limit at any point in time.
  • Your spouse’s credit can also affect your credit if you are an authorized user on their credit cards.  If they failed to make on-time payments in the past, or keep high balances on that account, it could negatively affect your credit report and score – as all of the history associated with that account is imported into your credit report. 

Your spouse’s individual loans, credit cards, etc. that you have not signed for should not affect your credit score.

 

If you have questions or need guidance, THD can help. Give us a call at (800) 822-7120.

 

-Erik Kaplan

Fix your Credit today and Protect your Financial Freedom!

The truth is, your credit can negatively affect every aspect of your life.

 

 

It can keep you from getting a house, renting an apartment, or even getting a vehicle. It can also make it impossible to get a competitive loan, mortgage and insurance premiums – to name a few.

 

If you’re struggling with poor credit, THD Credit can make the credit repair process simple for you! We will conduct a full analysis of your credit history. We know what to look for, understand the process of fixing inaccuracies and can guide you on what you are legally entitled to from both creditors and the credit bureaus.

 

THD Credit’s Credit repair process includes the following steps:

 

 
  • Review your credit report (or will produce a copy of your report)
  • Analyze the details
  • Develop a strategy with actionable steps to improve your score
  • Provide the guidance you need to rebuild your credit
 

If you are ready to work together to challenge credit report errors and optimize your scores,  call 1-800-822-7120 and let me know you’re ready to get started!

 

-Erik Kaplan

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