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Credit and Debt

<span class="sr-only">Credit and Debt Intro</span>

Credit and Debt

How does credit and debt impact your financial health? Learn more about credit reports, scores, paying down debt and the cost of credit.

Credit and Debt

Credit and Debt
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MI Financial Literacy Message

When a debt collector calls, it’s important to know your rights and what you need to do. The FTC enforces the Fair Debt Collection Practices Act (FDCPA), which makes it illegal for debt collectors to use abusive, unfair, or deceptive practices when they collect debts.

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A credit report contains information about your credit, bill payment history, and the status of your credit accounts.

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Having trouble paying your bills? Are you worried about losing your home or your car? You’re not alone. Many people face a financial crisis at some point in their lives. Here’s what you need to know about getting out of debt.

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Are you wondering how to fix your credit? No one can legally remove negative information from your credit report if it’s accurate and current. But there are steps you can take to fix errors and improve your credit.

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A payday loan can be a very expensive form of credit if you are not careful. Payday loans are not intended to meet long-term financial goals.

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Credit plays an important role in our lives every day and maintaining good credit is essential to stay in control of your finances and to achieve your goals.

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You can build a credit history or improve your credit history. One way is to get credit and use it wisely.

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An important type of credit that most of us can’t live without is utility credit. Similar to retail credit, utility credit allows us to get a service (or good) now and pay for it later.

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Credit cards are a convenient way to make both large and small purchases. They can also lead to a significant amount of debt. If you have high balances on two or more cards, here are three strategies to help you to pay them off.

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Your credit history is important. It tells businesses how you pay your bills. Those businesses then decide if they want to give you a credit card, a job, an apartment, a loan, or insurance.

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