A 529 Plan is a tax-advantaged savings vehicle created to help families save for education costs ranging from K–12 to graduate school. This article explains how a 529 Plan works, who benefits, common pitfalls, and actionable steps to pick and use one effectively. You’ll learn the core rules, state differences, what to avoid, and the […]
The 529 College Savings Plan Explained Read More »
One of my newsletter subscribers had a question about how to best dispute a medical debt. She found out that a collection account for $1,879 appears on her Equifax credit report, based on a $2,000 surgery she had back in 2004. This individual (who is also unemployed) said she’d paid monthly on the bill at
How to Best Dispute a Medical Debt Read More »
Another financial scam is making the rounds. This one involves Walmart. And it’s happening just in time for the holidays. Here’s the con: Some no-good thieves are calling people on the phone and saying: “You’ve won a $200 Walmart gift card!” To collect your gift card, they say, you just have to pay $1 for
Another Financial Scam: This One Involves Walmart Read More »
A Facebook fan read about some local banks closing, and wanted to know how – as an account holder – this will affect her. Here’s what you need to know if your bank fails. So far this year, 115 banks have collapsed in the U.S., and many of them are local banks. The Federal Deposit
What to Expect if Your Bank Closes Read More »
A Facebook fan who is about to get married had asked me whether there is a limit in the amount of income to be able to qualify for FHA. It seems that they were advise to only put the fiance’s name on the mortgage as their combined income would disqualify them from getting the FHA
FHA Loan Guidelines Read More »
The owner of the Los Angeles Dodgers, Frank McCourt, is in divorce talks with his wife Jamie, the CEO for the team. This power couple is one of 1.2 million husband-and-wife teams who run a business together, according to the National Federation for Independent Business. And when couples split, often so can the business. John
Tips for Splitting Assets: When Entrepreneurs Divorce Read More »
A Facebook fan had heard that a bad credit rating could keep him from getting a job. He wanted to verify whether this is true and wanted to know where he find out about his credit rating. It is true that having a bad credit rating can impact a person’s ability to get a job.
How Credit Rating Can Affect Your Ability to Get a Job Read More »
A Facebook fan has asked whether the National Mortgage Help Center is a legitimate company. I’ve never had any dealings with National Mortgage Help Center, nor have I heard anything about them from consumers or in the media. So I can’t really comment with any authority or insight into whether this particular company is “legitimate”
Are Mortgage Help Centers Legitimate? Read More »
The number of people filing for personal bankruptcy was up 36.5% in the first half of 2009 from the same period a year before, and more than likely that number will keep rising as people seek their own personal bailout from the recession. Here are a few things to know if you have ever contemplated
5 Things to Know about Filing Bankruptcy Read More »
You probably already know that not paying a bill can adversely affect your credit score, but do you know by about how much? Do you know what effect opening up a retailer charge card just to get 10% off on your purchase can have on your credit score? These are some things you should be
Your Credit Score Explained Read More »
A Facebook fan who has a medical bill that got overlooked after she lost her job was contacted by a debt collection agency who said they have added $150 to the bill as processing fee. She wanted to know if is advisable to contact the medical billing company directly after it has gotten to this
Got Medical Bills in Collections? Avoid This Scam Read More »
A Facebook follower wrote me saying she earns about $30,000 a year, asked about buying a home with little to no money down. If you or someone you know is trying to become a first-time homeowner, and you don’t have a high salary or a lot of savings, there is financial assistance available if you
Help for First-Time Home Buyers Read More »
A couple of Facebook fans who recently heard me on the Russ Parr Show have asked me to elaborate on the Student Loan Cancellation Program. Under federal law, you can get your federal student loans canceled or discharged for many different circumstances. Reasons for loan discharge: Death Total and permanent disability School-related issues or improper
Student Loan Cancellation Explained Read More »
If you can’t pay a debt, creditors are willing to settle out of court with you for a lump sum payment of less than the amount you owe, or a monthly payment plan, but they also will not hesitate to sue you for the full amount of the money you owe them. So what should
Why You Should Answer a Summons on Debt Collection Read More »
Consumers often pay off debt for which creditors can no longer seek legal action because the Statute of Limitations has already expired for the account. Consumers pay off these accounts perhaps because the accounts still appear on their credit reports, they fear court action, or they simply don’t know their rights. There are even cases
Statute of Limitations on Debt Read More »
