Ever since the Occupy Wall Street protests that launched in New York City began, many people have questioned whether this loosely defined group will “succeed” – and if so, how its success will be measured. In my view, even before the news broke that Bank of America was dropping its planned $5 debit fee, Occupy […]
Even Before BofA Dropped Its Debit Fee, Occupy Wall Street Had Already Won Read More »
A reader of AskTheMoneyCoach.com wanted to know whether or not it’s a smart decision for them to launch a 401(k) or 403(b) investment plan later in life. The person asked me simply: Q: “Should I start a 401(k) or 403(b) investment plan at 63 years of age?” A: Yes! Actually, I think it can be
Should You Start a 401(k) After Age 60? Read More »
Since my oldest daughter entered high school in September, I’m going all out to help her hunt for scholarships and aid her in scoring some free money to pay for college. I figured we’d be getting an “early” start, by looking for scholarships while she’s just now in 9th grade. Boy, was I wrong! Little
College Scholarships for Students in High School, Middle School and Kindergarten Read More »
Many people who have heard of peer to peer lending understand that it is a form of social lending that removes the bank as the middleman. However, there are a lot of other factors about peer-to-peer loans, the peer to peer lending process or the P2P industry in general, that many people don’t understand. Here
Peer to Peer Loans: 6 Things You Need To Know Read More »
You never want to play “trick or treat” with financial con artists. Unfortunately, consumers do it all year long. Here are 5 ghoulish financial scams that can wreck your budget on Halloween – and all year long! Foreign Lottery Scam – Here’s one straight from Transylvania. You get a letter telling you that you’ve won
5 Ghoulish Financial Scams That Can Wreck Your Budget on Halloween and Beyond Read More »
Q: If you were to hit a high default interest rate on a 0% interest intro credit card; will it place a negative mark down on your credit report? A: If I understand your question, you had a credit card with a teaser rate of 0%, but then were late on a payment and it
Will My Credit Score Be Hurt By a High Default Interest Rate? Read More »
Q: What is a peer-to-peer loan or peer-to-peer lending? A: In the U.S., peer‑to‑peer lending is a relatively new form of social lending that removes banks as the middlemen in a loan transaction. With a peer-to-peer loan, an individual – sometimes called the lender or the investor – provides funds to a borrower and does
What is a Peer-to-Peer Loan or Peer-to-Peer Lending? Read More »
Q: I have about 6 credit cards that are maxed out. I recently got some money so I was wondering if it is better to pay off a couple of cards or pay down the balance on every card? A: From a credit scoring standpoint, it would be better to pay off a couple of
My Credit Cards Are Maxed Out. Which One Should I Pay Off First? Read More »
Q: I went into my bank account this morning to discover that $1,500 was taken from my account and wired to the Philippines through a money transfer company called Xoom. I have already filed an affidavit with my bank to research and get my money back. What surprised me was that my bank allowed the money
I am a Victim of Identity Theft. What Should I Do? Read More »
Two new studies offer opposing ideas about what makes people loyal to specific car brands. Researchers in the first survey conclude that younger Americans are far less likely to show brand loyalty to one automaker than are older consumers in the U.S. Why is this? In a word: technology. The first study, from the GfK
Car Brands: Gen X and Gen Y Not as Loyal as Parents Read More »
Q: “I’ve read somewhere that ING Direct has better interest rates on their savings accounts than other banks. I’ve looked into it and confirmed that they have a rate of 1% to 1.5%, as opposed to a fraction of a percent from local banks. Thank God I’m finally getting out of debt and am now
Should You Trust Online Banking? Read More »
Q: “My fiance is having problems getting a mortgage. This is due to his ex‑wife’s failure to pay a previous joint mortgage with a certain company. We can prove that he made payments to the joint account and prove that she canceled the direct debit. Can you please advise how we can repair this damaged
My Credit Was Ruined After My Divorce. What Should I Do? Read More »
When a debt collector contacts you, one of the first things you need to do is verify that their claim is legitimate and if it is, confirm that the debt collector is actually licensed to collect on that debt in your state. You must remember that debt collectors are trained to persuade and encourage consumers
3 Easy Steps To Check Out a Debt Collector Read More »
Q: “I have two credit cards that went into collections. I went through some financial difficulties and fell off on paying them due to having to pay other bills first, like my home and car, et cetera. Now one of them, BofA, was referred to a lawyer. He is harassing me by calling every 10
How To Handle Credit Card Accounts In Collections Read More »
If the effects of the recession have left you with a home or condo that is worth less than the amount of your current mortgage balance, you may have considered a strategic default. A strategic default is when a borrower decides to default on their mortgage – basically refuses to make payments – and walks
Reasons Why People Consider a Strategic Default Read More »
