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Credit Card Mistakes to Avoid

Credit card companies make it very easy for borrowers to replace the cash in their wallet for the plastic card. Credit card companies spend billions of dollars on marketing cards to borrowers and making them appealing with cashback or airline miles. If you choose to use a credit card to build your credit score, be cautious of these common credit card mistakes.

Student Loans are Making it Hard to Get a Mortgage

Recent college graduates receive heavy social pressures from friends or family about when their timeframe for purchasing their first home.  However, they might discover that those same student loans that allowed them to finish their studies are now holding them back from purchasing their own home. The National Association of Realtors recently published that 83 percent of the non-homeowners state that student loan debt prevents them from buying a home.

Teaching children financial literacy at home, how debit cards can help.

Most of us understand that financial literacy is the key to becoming a successful adult. As adults, sometimes we wish that we learned financial literacy more in high school or younger. Now that some children are getting their education at home or through virtual sources, it could be the time to teach your children about those financial topics you wished you learned earlier in life. Wonderful lessons for children are to teach them how to earn money, spend it, and save for future purchases.

Managing Student Loan Debt During The Pandemic

There’s no denying the enormous economic impact the Covid-19 pandemic is having on American households. Keeping up with fixed expenses such as mortgage payments, electric bills, and car payments has become a major stressor for many. For some, companies are willing to extend due dates, lower interest rates, or even discount the amount owed. That being said, what options are there for student loan borrowers to help during this pandemic? Fortunately, there are options whether your loan is Federal, Private, or through your employer.

Student Loans and COVID-19

The widespread economic halt arising from the Coronavirus pandemic has had strenuous implications on citizens across the world. There’s no telling how long the virus will last and its resultant effect on Americans. Offsetting student loans has always been a pressing task for most citizens and with the coronavirus eliminating/reducing income, the struggle has increased. The unexpected pandemic has made it even more difficult for the average American to offset their debts – student debts being among the most troublesome.  Reports show that, as of March 2019, American’s outstanding student loan debt topped $1.5 trillion. Most people are beginning to wonder how to deal with their mounting debt during this economic crisis.

You May Be Able to Get Financial Help From These Major Financial Institutions If You Have Been Negatively Affected by COVID-19

The Coronavirus pandemic has spread rapidly across the country and so has the need for financial aid and resources. Despite the stimulus check given to the American people over the last month, over 30 million Americans have registered for unemployment. This shows that, despite the stimulus package offered by the government, millions of Americans are still in desperate need of stimulus packages. However, several institutions and private businesses are offering financial help to people who have been negatively affected by the pandemic. We have accumulated a list of institutions you can go to for aid during this time.

Warning Signs of Financial Trouble

Despite the fact that many people make a substantial amount of money, they find themselves living paycheck to paycheck, which eventually lands them in financial trouble. Why, you might ask? Well, it is because a large number of people have really poor financial habits. However, financial troubles don’t just spring up from nowhere – there are always warning signs. Many people tend to ignore these warning signs until it blows up in their faces. In this article, we will be discussing these financial trouble warning signs extensively.

Charge-Offs: What They Are and How to Get Them off Your Credit Report

One of the worst things you can have on your credit report is a charge-off. What is a charge-off, you might ask? A charge-off happens when an account has been behind on their credit card, mortgage, or other debt payments – usually after 180 days of not paying the required minimum payment. The creditor designating your debt as charged-off doesn’t mean you will not be required to pay the debt. Quite the contrary as the charge-off will stay on our credit report for seven years from the date it was reported as a charge-off. This would no doubt cause substantial harm to your credit score, affect future credit and loan applications — no one wants that. In this article, we will discuss charge-offs in detail as well as the steps to take to get them off your credit report.

People Being Arrested for Debt

Congress abolished debtors’ prison in 1833, but in reality, the prosecutors’ offices and the courts have empowered debt collectors to make use of this same criminal justice system to terrorize and punish debtors into paying the debts they owe. These debts range from consumer debt to car payments to student loans to utility bills to medical bills. This development is very disheartening if you consider that private collection agencies now control the debt of over 70 million Americans, including low-income families.