Now that a new year has begun, it’s time to make good on all those resolutions. Kick this year off right by resolving to build better credit for yourself – we'll tell you how to start.

If you are currently paying down balances on several high interest credit cards, you may be tempted to try debt consolidation. Before shopping for a loan, make sure that this decision is part of a long-term plan, and not just a temporary fix.

Negative items, like a late payment or foreclosure, can stay on your credit report for up to seven or ten years. Because we are just now seven years removed from the Great Recession, FICO conducted a study to look at how credit scores are impacted after negative information is removed from credit reports.

Having bad credit is a circumstance that has a negative impact on your financial health. It's why there are thousands of credit repair services exist. These places aim to help people improve their credit standing, and that's an exciting proposition for many people dealing with bad credit. But what exactly do these places do? And can they really work?

Don't fall victim to companies that offer quick fixes for your damaged credit. What these services are trying to offer could prove to be expensive, ineffective and possibly illegal. Get the facts and create a legitimate credit repair plan that actually works.

Many credit card users are always looking for ways to reduce their interest charges, and one of the most popular methods employed is the balance transfer. This simply involves moving an existing balance over to a new credit card that carries a lower interest rate.

Paying off a balance that has gone into collections may or may not improve your credit score. You have to remember that, at this point, the original creditors no longer own the debt, so all decisions regarding the account will be made by the agency that purchased the debt.

As a New Yorker, you know that you live in the greatest city in the world. You have easy access to great restaurants, entertainment, museums and shopping. But living in New York City is expensive, so even if you have a great income, you may find yourself facing bad credit.

Credit is something all of us use nearly every day. It takes time to raise your credit score, especially if you’re looking for significant improvement. Though a car loan won’t improve your credit overnight, it can be one of the best credit improvement tools around.

If you’ve got bad credit and are looking to fix it, you may have heard of credit repair companies or services. The thought of repairing your credit can sound daunting, so is paying someone worth it or should you do it yourself?