COVID-19 Update
What You Need to Know About Private Student Loans
When most people hear “student loans,” they’re thinking of federal student loans that are issued by the Department of Education and managed by a variety of loan servicers. But in addition to the...
What is a Charge-Off & How Does it Affect Credit?
Posted in: Credit Cards & Loans, Q&A
Of the many things that can affect a consumer’s credit report and score, having one or more accounts showing as “charged off“ is among the most harmful. Consumers with charge offs on their credi...
Should I Use Retirement Savings to Pay for Emergencies?
Posted in: Money Management, Q&A
The CARES Act makes it possible for consumers to take up to $100,000 from their 401(k) or 403(b) retirement plans with no penalty. And, although it is taxable, they can pay the taxes over three years....
Why Do Creditors Close Credit Cards Without Notice?
Posted in: Credit Cards & Loans, Q&A
Have you ever tried to use a credit card, only to discover it’s been closed without your knowledge? Or checked your credit report to find your score had dropped because the creditor closed your long...
The Do’s & Don’ts of Using Credit Cards During a Financial Crisis
Posted in: Credit Cards & Loans, Q&A
The COVID-19 pandemic is having an ongoing effect on American’s lives in many ways. One of the most universal is its impact on people’s finances. Record numbers of laid-off or furloughed workers a...
How Do I Pay My Student Loans When Living Abroad?
Posted in: Q&A, Student Loans & Budget
Living and working outside the United States is an exciting way to see the world and experience other cultures. For United States citizens in the process of paying back federal student loans, it can p...
Considering Credit Repair? Here’s What You Need to Know.
Posted in: Credit Cards & Loans, Q&A
Credit repair is one of many financial services designed to help consumers improve their credit. The process involves hiring a company to dispute negative or incorrect entries on your credit report. I...
Getting Started with Student Loan Repayment
Posted in: Q&A, Student Loans & Budget
For student loan borrowers, getting started with student loan repayment can be a daunting task. It is even more challenging if they haven’t been keeping up with their loan details throughout the bor...
What are the Alternatives to Credit Card Cash Advances?
Posted in: Credit Cards & Loans, Q&A
When money is tight, a credit card cash advance can seem like an easy solution. But it comes at a cost. In many cases, a cash advance comes with a higher interest rate than that for credit card purcha...
The Pros and Cons of Credit Cards
When managed responsibly, credit cards are a useful financial tool. But problems can arise when consumers come to rely on credit cards to pay for everyday purchases, or to fund a lifestyle they can’...