dcsimg

Debt

  • Making only the minimum required payment on your credit cards? That's a bad move
    Published: Feb 14, 2016

    Here are three ways paying only the minimum on your credit cards can hurt you: 1. It makes everything more expensive If you only pay the minimum required payment set by your credit card company each month, that laptop you charged two weeks ago will be long gone and replaced by a newer model by the time ...

  • Debt Settlement: Avoiding Scams and Finding Better Alternatives
    Published: Feb 14, 2016

    Debt settlement is almost always the worst option for people facing collections and creditors. It pays to know the facts. Let's get started. Debt settlement, debt consolidation and debt management: Know the difference Debt settlement is where you pay less than what you owe. It's a risky path and one often paved with excessive fees and scams. Debt ...

  • Become a debt-free millennial in four simple steps
    Published: Jul 8, 2015

    The financial habits you establish in your 20s can affect you for years and years. Whether you're overwhelmed by the thought of paying off student loans or you didn't make the best choices with your first credit card, there are things you can do now to improve your situation. Before you get started, know where ...

  • Trying to boost your credit score while paying off debt?
    Published: Jun 16, 2015

    If you're at the beginning of your debt-payoff journey, the chances are that you have more than one debt. You may be wondering how you should prioritize your monthly payments on those credit accounts. There are two main schools of thought when it comes to creating an effective plan However, there is an additional strategy ...

  • Trying to ditch debt? There's an app for that
    Published: Jun 3, 2015

    So you want to be debt-free, but it's taking a while to get there. Yep, the road to financial freedom can be a long and overwhelming one. We spend quite a bit of time on our devices, so incorporating them into our financial goals can serve as a regular reminder to stay on track. Here ...

  • Break the debt cycle with better money management
    Published: Nov 3, 2014

    Ever wonder what factors lead some people to go into debt, which can negatively impact your credit score? We interviewed Catherine P. Montalto, Ph.D., associate professor in the College of Education and Human Ecology at The Ohio State University, about spending behavior and how people can motivate to become better money managers. Q. Being a poor ...

  • You have debts, but that doesn't mean you don't have rights
    Published: Oct 21, 2014

    Just because you owe money doesn't mean anyone looking to collect it can do whatever they want to get it. Debt collectors have some very specific rules to follow, and when they get too aggressive you should know how to defend yourself. The Fair Debt Collection Practices Act (FDCPA) sets limits intended to protect consumers from ...

  • Removing co-signers from your student loan debt
    Published: Oct 14, 2014

    While in most cases federal student loans do not require a co-signer, many private loans do. This is one of the reasons that private loans are not as desirable a means of funding your education as other forms of financial aid. Asking a parent or other loved one to put their own credit score and ...

  • How missed credit card payments affect your credit
    Published: Apr 8, 2014

    Contemplating skipping a credit card (or any other) payment? Think again. "Really think about the consequences," urges Anthony A. Sprauve, FICO senior consumer credit specialist. "Thirty-five percent of your FICO score is your payment history, so it's the single most important thing your score looks at. You want to avoid missing or skipping payments unless you're ...

  • What does the new CFPB ruling mean for my student loan debt?
    Published: Feb 25, 2014

    To answer this question, maybe it is best to first ask another question: what is the CFPB, anyway? CFPB, or Consumer Financial Protection Bureau, is a government organization established by the Dodd-Frank Act. CFPB and the student loan connection "Our mission is to make markets for consumer financial products and services work for Americans -- whether ...