Recent News

Chalkboard with graph of rising credit card rates

Why Credit Card APR’s Are Rising, Despite Fed’s Third Rate Cut of 2019

Typically, a decrease in the federal funds rate means your credit card APR should fall as well, but that’s not what is happening lately in the U.S. economy. Banks have backed themselves into a corner with an influx of cash-back and travel rewards credit cards, dishing out perks they can’t afford. Now, consumers are paying […]

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Disabled veteran in a wheelchair

President Trump Signs Order to Erase Student Loan Debt for Disabled Veterans

Lawmakers, economists and activist all have made headlines debating solutions to the $1.6 trillion student debt crisis burdening the lives of 44 million Americans. Some plans go as far as to cancel every cent of student loan debt, while others recommend tilting relief in favor of low-income or less fortunate borrowers. In August of 2019, […]

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U.S. consumer concerned about debt

Consumer Debt Grows as U.S. Economy Expands

Americans are taking on ever larger debt loads as they struggle to maintain living standards. They are borrowing more on their credit cards, taking on a soaring levels of student debt and signing more and more personal loans, all making the next recession even riskier for those already struggling to make payments. Housing prices and […]

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Elizabeth Warren giving a speech

Democratic Presidential Candidates Plan to End Student Debt Crisis

It’s impossible not to notice that student loan debt has emerged as a big issue in the campaigns for the 2020 Democratic Party presidential nominations. Massachusetts Sen. Elizabeth Warren brought it to the forefront in the spring of 2019 when she proposed a plan to forgive a large portion of the more than $1.5 trillion […]

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Military father holding his new born baby

NFCC Survey Shows Military Families Financial Struggles

The U.S. economy might be bustling for civilians, but not all active enlisted members of the military are thriving in it. More than one-third of enlisted military members do not pay their bills on time and about half say they had to get a second job to supplement their income. Those extraordinary findings came from […]

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Older couple sitting with papers and considering bankruptcy

Retirees and Bankruptcy

People are supposed to relax when they retire, not worry about financial problems. Studies show that a lot of retirees turn to alcohol for debt relief, but there is a better way than booze:  Bankruptcy. The mere word makes a lot of people cringe, especially people over 65. They were raised in an era that […]

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Credit report next to a laptop to freeze credit checks

New Law Allows Credit Freeze

Security breaches have become so commonplace in the United States that news around them barely causes a ripple these days. Even if it’s news that provides consumers an extra layer of protection and won’t cost them a dime. The Economic Growth, Regulatory Relief, and Consumer Protection Act – which allows consumers to freeze and unfreeze […]

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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, the […]

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People sitting at computers and tablets looking up personal loans to submit an application

Personal Loans on the Rise

The loan business is getting personal. We’re talking personal loans, and they are exactly what they sound like. You borrow money from a lending institution and pay it back. The big difference from mortgages or car loans is that you don’t need collateral to get a personal loan. A lot of consumers must like that […]

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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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