Recent News

HELOC on laptop screen

HELOCs on the Rise: Why You Should Be Careful

Across America, home values are on the rise again, surging with the economy. With that surge, homeowners eager to scratch a pent-up-demand itch once again are taking out HELOCs, or home equity lines of credit. Yes, at last, houses that spent much of the last decade underwater have begun to regain equity — that is, […]

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Women with bad credit going to nonbank to borrow money

Nonbanks Fill Demand from Borrowers with Poor Credit

The era when almost anyone with a pulse could get a loan or mortgage from a commercial bank ended with the financial meltdown of 2008. Today, tightened regulations and a reluctance among large lenders to deal with risky customers has shifted borrowing to smaller institutions that have adopted the group name “nonbanks.” The major distinction […]

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Caution on Student Loan Forgiveness Programs

Confusion Clouds Future of Student Loan Forgiveness Programs

Here’s a warning for anyone who must borrow money for college. There’s an assault under way on the most cost-effective and popular student-loan repayment programs. Lines are being drawn and people are choosing sides. The ability for borrowers to efficiently erase the $1.5-trillion in student-loan debt suddenly looks far less promising. Potential solutions are being […]

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Teacher in Classroom with Students

The Future of the Public Service Loan Forgiveness Program

President Trump’s latest budget proposal to Congress calls, once again, for the elimination of the Public Service Loan Forgiveness (PSLF) program. This is the second time Trump has recommended eliminating the program that promised to forgive the balance on student loans after 10 years of on-time payments and service in approved government and charity organizations. […]

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Warning Card Interest Rates Up

Interest Rates Increasing on Credit Cards

American consumers owe a record $1.023-trillion in revolving credit – mostly through credit-card debt – and with interest rates expected to rise in 2018, financial experts predict the problem will escalate unless consumers take a more aggressive approach in paying down their debt. Revolving credit is growing at an annual rate of 4.9%, a reflection […]

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Bag of Payday Loan Money Exchanging Hands

Payday Loan Alternative a Good (Or Risky) Thing?

If you’re one of the millions of Americans for whom payday can’t come soon enough, technology is catching up with your dreams. Uber, McDonald’s and Outback Steakhouse are among a growing number of employers that are offering workers an on-demand system that gives them access to their money the day after they earn it. The […]

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Tax
Tablet Screen with Tax Refund displayed on it

Practical Suggestion for Tax Refund: Pay off Credit Card Debt!

Most Americans will face a nice little dilemma in 2018. Thanks to tax cuts, we are going to take home more of our paycheck. But what should we do with that extra cash? If you use credit cards, finding the answer is a lot easier than executing it, so allow us to drive it home:  […]

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Equifax Data Breach Lady in front of computer screen

What To Do About Equifax Data Breach?

The recent data breach at Equifax, one of the three major credit reporting bureaus, has created an uncomfortable situation for the more than 145 million American consumers whose personal information has been exposed. What do I do to limit damage from the Equifax data breach? There are some timid first steps everyone should take: See […]

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Poor Credit Report

CFPB’s Deal with Credit Bureaus Could Raise 12 Million Scores

The Consumer Financial Protection Bureau, which prides itself on being the watchdog for U.S. consumers, has been snarling at America’s three major credit bureaus for a while and finally decided to take a bite out of their bottom lines this year. The CFPB hit all three of the major credit bureaus – Experian, Equifax and […]

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Debt Collector Threats

Running Scared: Debt Collectors Who Threaten Consumers

Debt collectors frequently use threats to extract payment from the more than 70 million consumers who fall behind on their bills, the Consumer Financial Protection Bureau reports in a new study of collection industry practices. The federal agency reported that one-in-four consumers contacted by collectors in the past year felt threatened, and that more than […]

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