Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

The Impact of Overwhelming Debt on Armed Forces Personnel

Written by Mechel Glass on May 20, 2014 in Credit  |   No comments

Dealing with overwhelming debt is stressful for everyone, but the men and women of the Armed Forces face unique challenges when they have mountains of bills to overcome. Often, debt has far-reaching effects that go above and beyond the financial implications civilians face. A mind…

pay off debtDealing with overwhelming debt is stressful for everyone, but the men and women of the Armed Forces face unique challenges when they have mountains of bills to overcome. Often, debt has far-reaching effects that go above and beyond the financial implications civilians face.

A mind distracted from the mission

What happens to you when you are at the office and you receive a phone call from a bill collector? At best it only interrupts your focus, but it probably ruins your day. Instead of focusing on work, you spend the majority of your time trying to figure out a resolution to the problem.

The same thing happens to men and women in uniform. If a soldier’s mind is focused on dealing with an unpaid mortgage back home and the impacts of that unpaid debt on loved ones, that soldier is not 100 percent focused on the mission. The soldier’s life and the lives of others could be put in jeopardy if the soldier loses focus.

Loss of security clearance

If a solider is in a combat zone or field where security clearance is required, overwhelming debt and collection calls could potentially impact the standing of that clearance. Certain financial issues, such as not being able or willing to pay debts, frivolous spending, and illegal activities such as theft, could revoke or make it impossible to obtain a security clearance.

(Click here to read more from another veteran who overcame obstacles to pay off debt he accrued in the military.)

Family challenges

Financial problems and disagreements about money are among the top causes for divorce in the United States. This is not something new. However, military families have additional challenges, including permanent changes of station (PCS) and separation from family for long periods of time.

Soldiers face the possibility of a PCS or deployment every two to three years. Many military personnel struggle to maintain two households after purchasing a home in one state and not being able to sell it when they have to quickly move.

When reservists and national guardsmen and women are deployed, they often leave good paying jobs and take a significant pay cut, which impacts their ability to keep up with regular expenses. Additionally, if the service member is the person primarily responsible for managing household finances before being deployed, he or she must rely on a spouse or significant other to pay the bills.

If payments are not made on time, the service member’s credit could be significantly impacted. This, combined with a rocky financial foundation, can exacerbate an already difficult situation and lead to divorce.

Suffering in silence

Although servicemen and women may receive information about financial literacy, they may not speak up or ask specific questions because they may feel that unwanted attention could be directed at them. Many armed forces personnel hide the fact that they are experiencing financial difficulty and try to handle it alone.

For any veteran, active duty or retired, the lesson here is to seek help early from a trusted and reliable source. Don’t suffer in silence. There are numerous resources that can help you deal with the overwhelming debt that you may be carrying. You may want to try a free budget and credit counseling session with a nonprofit credit counseling agency, which can help you create a customized action plan for dealing with your debts and working toward financial stability.

You can also check out my book, The Veteran’s Money Book, which provides a step-by-step program to help military veterans build a financial action plan to map their futures.

Mechel Glass is the vice president of education for ClearPoint Credit Counseling Solutions. She is responsible for developing the curriculum and financial education materials for online classes including webinars, podcasts, videos, and listen-on-demand classes. She provides support and training for the agency’s community outreach programs and staff, including financial education specialists in 15 states. Glass also manages the development and reporting of the agency’s online education, and she is the co-author of The Veteran’s Money Book (Career Press, April 2014).

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.

No comments yet

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Credit Archive