Page 169 – The Money Coach

Can a Creditor Seize My Husband’s Bank Account If I am Sued?

Debt / Lynnette Khalfani-Cox, The Money Coach / debt collectors, garnishment

Q: I Live in Michigan and Lost My Job in May 2009. I have Quite a Bit of Credit Card Debt that is in My Name Only. My Only Income is Unemployment. I Do Not Have a Bank Account in My Name. My Unemployment is Deposited to My Husband’s Bank Account. If I am Sued, Can a Creditor Seize My Husband’s Account Even Though It Isn’t His Debt, since the Unemployment is Going Into His Account?

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A black graduation cap with a red price tag displaying dollar signs attached to it, symbolizing the burden of student loans.

Student Loan Horror Stories

Student Loans / Lynnette Khalfani-Cox, The Money Coach

With $830 billion in student loans outstanding in America, mounting student loan debt is increasingly wreaking havoc on the lives of U.S. college graduates and dropouts alike.

As unemployment remains stubbornly high, delinquencies and default rates are rising as indebted borrowers struggle to repay hefty student loans that often reach six-figures.

Unfortunately, college debt isn’t just taking a financial toll on millions of borrowers. It’s also inflicting staggering costs on the health, careers, emotional well-being and personal relationships of those burdened with big college loans.

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Where Can I Find the Government Agencies That Pay Your Student Loans?

Student Loans / Lynnette Khalfani-Cox, The Money Coach / Federal Student Loan Repayment Program

Editor’s note: Be sure to check out our list of 85 Government Agencies that will pay off your student loans at the end of this post. As you probably read in one of my previous articles on this topic, the program in which the government will pay off your federal student loans is called The

Where Can I Find the Government Agencies That Pay Your Student Loans? Read More »

Best Place to Find Grants, Loans and Financing for Entrepreneurs

Entrepreneurship / Lynnette Khalfani-Cox, The Money Coach / Small Business

The best resource to find grants, loans and financing for entrepreneurs is the federal government’s website https://www.sba.gov/. There, you will discover a wealth of resources for all kinds of small business owners, including: those just starting a business current entrepreneurs trying to grow their operations women minorities people with disabilities those in rural communities home-based

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Close-up of motorcycle front wheels and disc brakes aligned in a row, captured in black and white. Perfect for those considering a motorcycle loan to bring their dream bike home.

Am I Responsible for a Motorcycle Loan My Husband Took Out in My Name?

Loans / Lynnette Khalfani-Cox, The Money Coach / credit dispute, identity theft, motorcycle loan, motorcycle loan in my name, protect credit after divorce, spouse loan fraud

If your spouse has taken out a motorcycle loan in your name—especially without your consent—you’re likely feeling shocked, frustrated, and worried about your credit. While every case depends on the specific details, here’s a breakdown of what you need to know about your legal responsibility, credit implications, and the steps you can take to protect

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Close-up of a parking meter showing the word "EXPIRED" in red text, reminiscent of an old statute of limitations run out.

The Statute of Limitations in a Nutshell

Debt / Lynnette Khalfani-Cox, The Money Coach / collection agency, statute of limitations

Question: I am a 23-year-old college student with a bad debt of about $12,000 with American Express. I believe the Statute of Limitations in Maryland is 3 years. I do not remember the last time I made a payment to them. I found a receipt showing a payment in December 2006. But when I called

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Should I Get Married Even Though My Girlfriend Has a Lot of Debt?

Couples and Money / Lynnette Khalfani-Cox, The Money Coach

A subscriber wants to know if he should get married even though his girlfriend has a lot of debt.

Should I Get Married Even Though My Girlfriend Has a Lot of Debt? Read More »

How to help Generation Y Survive the Great Recession

Family Finances / Lynnette Khalfani-Cox, The Money Coach / Generation Y, Millennials, Western Union

Young adults suffering through the Great Recession are having serious problems getting a handle on their spending, credit and debt woes, according to a new survey out from Western Union.

How to help Generation Y Survive the Great Recession Read More »

A man in a suit signs a document at a desk, surrounded by other people in formal attire, marking a pivotal moment in financial reform.

Financial Reform Bill Will Give Free Credit Scores to Some

Credit Scores / Lynnette Khalfani-Cox, The Money Coach / Credit History

You’re already entitled to one free copy of your credit report each year, via annualcreditreport.com. But thanks to the Financial Reform bill Congress just passed, you may be able to get a free credit score in the future too. Who is entitled to the free credit score? You’ll qualify anytime a company takes “adverse” action against you based, at least in part, on information it got from your credit file.

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A person in formal attire stands against a white wall in a sparsely furnished room with a carpeted floor and fluorescent lighting, perhaps contemplating solutions for bad credit.

Bad Credit Can Cost You a Job or a Promotion

Credit Scores / Lynnette Khalfani-Cox, The Money Coach / Employment, FICO

If you’re out of work, nobody has to tell you how tough it can be to find a job. Now there is another obstacle to overcome before you land your next gig: cleaning up your credit. Employers are increasingly checking people’s credit reports before deciding whether to hire someone or who to promote. In fact,

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Never Say That To A Debt Collector

Debt / Lynnette Khalfani-Cox, The Money Coach / collections, debt collectors, Fair Debt Collection Practices Act

If harassing calls from debt collectors are keeping you from answering the phone — or stressing you out — you’re not alone.

Amid the tough economy, debt collection activity has intensified, with some debt collectors engaging in unfair, abusive or illegal practices. The Federal Trade Commission says it gets more complaints about debt collectors than any other industry. In 2009, the agency received 88,190 consumer complaints about debt collectors, up 12% from the year before.

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Should You Borrow From a Subprime Lender

1 Comment / Loans / Lynnette Khalfani-Cox, The Money Coach / loan modification, Subprime Lenders

Question: “During 2007, I was working a full‑time and a part‑time job. I lost the full‑time job due to a reduction in force with the federal government. I was paying my creditors until my unemployment was revised. “My question is this. I tried to re‑mortgage my house. I tried to get a home equity loan, but

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A pen rests atop a blue credit card, placed on a document displaying various interest charges, APRs, and credit utilization for different account activities.

The Impact of Credit Utilization Rate on Your Credit Score

Credit Scores / Lynnette Khalfani-Cox, The Money Coach / credit utilization rate

Question: “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.

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Should You Sell Your Timeshare?

Real Estate / Lynnette Khalfani-Cox, The Money Coach / Timeshares

Question: “I have two timeshares. Both are for 10 years. One I purchased in 2007, and the other one in 2009 at an interest rate of 13.99%. Should I consider paying off one, or continue paying off them both at the ten year period? Are they really bad investments? I’m seven years away from retirement”.

Should You Sell Your Timeshare? Read More »

Perfect Credit: 7 Steps to a Great Credit Rating

Credit Scores / Lynnette Khalfani-Cox, The Money Coach / Credit rating, Perfect Credit

Perfect Credit

If you have negative marks in your credit history, you already know what a pain it is living with bad credit: you get turned down for credit cards and loans, you pay sky-high interest rates when you do get approved, or you have to go (hat in hand) asking family or friends to co-sign for you or loan you money. The list of indignities you suffer with poor credit goes on and on.

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