It may be true when they say “no good deed goes unpunished” as newly adopted regulations meant to protect consumers may have the opposite result if you aren’t cautious! Recent Consumer Financial Protection Bureau rules on debt collection practices could make consumers more vulnerable to online scams. What’s new and how…
The millennial generation is more likely than previous generations to cope with chronic health conditions. According to a survey conducted by The Harris Poll on behalf of CNBC Make It, 44% of millennials born between 1981 and 1988 have been diagnosed with at least one chronic health condition. Both…
Debt collectors can contact you directly when creditors sell your unpaid debt to a collection agency. Fraudsters posing as legitimate debt collectors may also target you, using deception or intimidation to collect debts you don’t owe or they don’t have the authority to collect. It’s probably not right if something…
Taking a vacation that leaves you debt-free is ideal. However, traveling is expensive, and vacation expenses can really add up over time. Many people end up piling up debt on their credit cards just to travel to exciting destinations or relax. In order to plan a vacation this year without…
You’re not alone if you went into debt shopping for the holidays. Several American consumers plan to put some of their holiday spending on their credit cards to pay off later. However, too much holiday credit card debt can harm your wallet and your credit rating. Having a large credit card…
Debt is familiar to Americans. A record $14.96 trillion in debt is encircling 80% of them, according to the Federal Reserve. Before we get into the details, debt is simply the obligation to pay money to anyone. If you have debt, you also likely have a repayment agreement. What…
In the United States, medical costs are a major problem. The average American spends more than $10,000 a year on medical care, and one in five Americans reports difficulty paying their medical bills. Medical debt can affect more than just your bank account. It can also negatively affect your credit…
Paying off your debt has many benefits. With time, your financial obligations and the size of your monthly payments may shrink. You can use the extra cash for investing, saving, or just having fun. Paying off your debts on time can even improve your credit score. What is the best…
Credit cards that offer strong balance transfer offers can help cardholders with high interest rates pay down their debt faster and more affordably. The concept is simple: you transfer your existing credit card debt to a new card with a lower interest rate, with the intention of repaying your debt…
Receiving an unexpected call from a debt collector can be intimidating. Often, debt collectors will try to pressure you into paying them immediately over the phone. Although you may be drowning in debt, you have rights when a debt collector calls, and you should always exercise your rights before you…
It’s a good idea to review your credit before applying for a credit card, in order to identify areas for improvement. The reason is that a better credit score can help you get lower interest rates, higher credit limits, and better credit cards. Whether you’re applying for your first credit…
The burden of medical debt weighs heavily on the credit scores of millions of Americans, even though this debt may arise from a single incident related to a critical health problem. Since the start of the pandemic, concern over the impact of this debt has only grown. Now, the…
When you’re trying to pay off several debts at once, it can be difficult to make progress. Being diligent is essential when paying off several debts at once. Debts with high interest rates usually take longer to pay off because they accrue so much interest each month. Consolidating your debt…
American students face a significant financial burden due to student loans. According to the Federal Reserve, Americans owed $1.73 trillion in student debt in the second quarter of last year. When you’re a college graduate, large student loan payments can make it difficult to pay your bills and establish financial…
