Q: I have a recent outstanding debt on my credit report. When I settle it, can the collection agency state as part of their negotiation that they will also remove it from my credit report? A: If you agree to a settlement with an original creditor or with a collection agency, they can do anything […]
Q: I feel obligated to settle my old debts. If I settle a really old debt that has been deleted from my credit reports, does that reactivate the debt and put it back on my credit report? A: Depending on the type of debt in question and what the creditor or collection agency does with
Should You Pay Old Debts? Read More »
Q: I have no credit card because I got into financial trouble a few years ago. I am starting to rebuild my credit and I am interested in applying for a credit card. I am scared of making that decision. I do get mailings from a card company asking me to sign up. I’m completing
I’m Scared To Open A New Credit Card Account. Help Me Money Coach! Read More »
Q: I have $33,000 worth of unsecured credit card debt. I’m not late on any payments, but I am living paycheck to paycheck. What’s the best way to clear my debt? Should I refinance my house or consider a debt consolidation company. A: I don’t think going to a debt consolidation company is the best strategy.
I Am Living Paycheck to Paycheck. What’s the Best Way to Clear My Debt? Read More »
Q: How Can I Re-Establish Credit With Bad Credit? No One Will Give Me a Credit Card. A: To re-establish credit after you’ve had credit problems in the past, try these three strategies: 1. Open a Secured Card. With a secured card, you put up a certain amount of cash into an account – perhaps
How Can I Re-Establish Credit With Bad Credit? No One Will Give Me a Credit Card. Read More »
Q: What is the best way to save money and get a good return on it? A: I recently wrote the following article that answers your question about saving money and getting a good return on it. Here is the article: Three Ways to Save More Money By Getting Paid to Save Everyone wants to
What is the Best Way to Save Money and Get a Good Return on it? Read More »
Q: Should I roll over $30,000 in my traditional IRA account into a ROTH IRA? I am 50 years old. A: Although the earnings in both types of retirement accounts grow tax-deferred, for longer-term financial planning, I like the benefits of the ROTH IRA over the Traditional IRA. Additionally, recent changes governing IRAs make it more financially
Should I Roll Over My IRA Account into a ROTH IRA? Read More »
A subscriber to Ask The Money Coach.com wants to know if it is okay to close a secured credit card account he recently opened since he can get a new, regular card from Capital One. Click now to hear Lynnette’s answer.
Many of you have asked for a copy of the “I Debticate Myself to Being Debt Free Worksheet” which first appeared in the first edition of Zero Debt: The Ultimate Guide to Financial Freedom. Here is a copy that you can download to your computer, along with a few of the other forms that are
I Debticate Myself To Being Debt Free Worksheet Read More »
A subscriber wants to know if they should consider Debt Settlement as an option?
Is Debt Settlement Right For You? Read More »
Most people know that it’s a great idea to have money automatically transferred from their paycheck into their savings account each month. But unfortunately, not everyone does it. In fact, about 1 out of 4 Americans employed full or part time have failed to take this basic step, which can make saving more money each month easy and hassle-free.
How To Become A Super Saver Read More »
Car Repossessed Collection Agency: If your car was repossessed—even voluntarily—you might assume your financial obligation ends there. Unfortunately, that’s not always the case. Often, the lender sells the car at auction for less than what you owed, and a collection agency may then come after you for the difference, also known as a “deficiency balance.”
Q: I Have a Student Loan With a Company. What Can I Do To Keep This Company From Garnishing My Check and Taking My Federal and State Taxes? A: It sounds like your student loan is obviously delinquent, and possibly already in default status. When you have such overdue loans, you are subject wage garnishments
Q: I am a single mom who makes about $28,000 a year. I try to save around $200 from my paycheck every second pay period each month, but it’s hard. Do you think $200 is enough? And if I want to save more where should I start? A: Even though $200 a month in savings might
How Much Should a Single Mom Save? Read More »
Q: Dear Money Coach: I would like to buy a second home for retirement in 5 years. How much house can I afford, what should my down payment be and how can I use the equity in my first home to possibly pay cash for the second home? A: You’ve indicated three key facts to about your finances:
Can You Afford a Second Home? Read More »
