Debt is a massive problem in America. While some people are able to survive in this economy by taking low-interest loans, we have to accept it that we’re up to our eyeballs in debt of all types: mortgage loans, credit card debt, student loans, automobile loans, and more. Even though home values have plummeted, the […]
All Debt Is Not Created Equally – Why Credit Card Debt Wrecks Your Credit Score Read More »
A credit score is simply a three-digit number that summarizes your overall credit standing and tells creditors how likely you are to either repay a debt or default on it. A credit score is calculated based on the underlying information that is contained in your credit reports. But a credit score is not automatically included
What is a Credit Score? Read More »
Federal student loan defaults are way up – rising to 8.8% in fiscal year 2009, compared to 7.0% in 2008, according to new data released in September 2011 from the Department of Education. The numbers represent the most recent figures available about federal student loans, and they show that scores of borrowers continue to struggle
Here’s How to Fix Your Defaulted Student Loans Read More »
In tough economic times, many people want to start budgeting – or better stick to a budget – but they find it hard to do so. Here’s an easy way to stay on track and maintain a realistic budget: use something I call “The 20% rule.” In a nutshell, the 20% rule says that whatever
Quick Budgeting Tip: Use The 20% Rule to Stick to a Budget Read More »
The Federal Trade Commission (FTC) has taken aggressive legal action against notorious payday lenders Big Sky Cash and Western Sky, alleging they engaged in illegal payday loan wage garnishments without court approval. This latest move signals the FTC’s ongoing campaign to protect consumers from abusive lending practices. If you’re facing financial hardship and considering payday
FTC Targets Big Sky Cash and Western Sky for Illegal Payday Loan Wage Garnishments Read More »
Everyone wants to have more money, but not everyone wants to save more money. Yet the two go hand in hand. Many of you have read my book, Zero Debt: The Ultimate Guide to Financial Freedom, in which I talk about personally getting out of debt and saving more money, as well as learning how
How Saving Money Now Saves Problems Later: For You and The Next Generation Read More »
Q: “I have good credit and own four credit cards with a combined credit limit of $24, 000. Three cards are at zero balance, and the other one has a balance of $100. I would like to close the newest card because I’ve only used it once. It has a credit limit of $2, 000.
Credit Utilization Rate Explained Read More »
If you are a parent or guardian of a student who has died and they have outstanding student loans, the government will discharge the loans so that you are not held responsible for paying them back. Standard student loans and PLUS loans are discharged when the borrower, or in the case of PLUS loan, a
The Student Loan Borrower Died – Am I Responsible? Read More »
If you’d like to boost your financial IQ, there are some simple, straightforward ways you can make yourself a smarter, savvier individual. Get a Financial Education What you’re doing right now—taking the time to read a money-management article – is one basic step to greater financial literacy. You can also read personal finance magazines, or
Four Simple Ways to Boost Your Financial IQ Read More »
If you were permanently disabled in years past, a letter from a doctor confirming your condition was required to have your student loan discharged. Back in 2002, however, the Department of Education tightened the guidelines and the rules concerning those loans that were being discharged due to permanent and total disability. Essentially, the department said
Do You Have To Pay Back A Student Loan If You Are Disabled Read More »
If you obtained a federal student loan for a school that closed, you may be eligible to have your loan discharged. If you weren’t able to complete your program because the college or university you got the student loan for closed down – and you weren’t transferred to another campus that would accept your student
Does A Student Loan Have To Be Paid Back If The School Closed? Read More »
Student loan debt has reached over 1 trillion dollars, which exceeds what Americans owe on credit cards. If you are burdened by student loan debt, here are seven ways to pay off or reduce your student loans: 1. Pick the shortest loan repayment program you can afford If you have federal student loans, there are
Seven Ways To Pay Off Your Student Loans Read More »
Q: I filed for my taxes on Turbo Tax I got a message saying that my social security number has been used and one of my dependents. Can I ever find out who did it? What if their using numbers in other places? Will I get my refund? A: If someone has used your Social
Someone Stole My SSN To File Taxes. What Should I Do? Read More »
Two popular questions here at AskTheMoneyCoach.com are: “Why are my credit reports or credit scores different?” and “Why isn’t my credit score contained in my credit report?” This post will answer those questions. What is a Credit Report? A consumer credit report is a detailed file about you that has information on where you live,
Credit Reports and Credit Scores Explained Read More »
If you recently had your Social Security card stolen or an identity thief had access to your Social Security number, someone could be using your Social Security number for a variety of purposes. Using someone else’s Social Security number is illegal but thousands of people become the victims of identity theft after losing their Social
Someone is Using My Social Security Number – What Should I Do? Read More »
