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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.

Behind on Car Payments? Here Are Some Tips to Get Back on Track

Whether you are single, married, or have kids, your monthly car payment is your ticket to freedom and a fully paid-for car that can take you and the family from point A to point B. However, if you can’t fulfill your monthly obligations, this can easily turn into a financial disaster. One of the major ways of maintaining your financial situation is by paying your bills on time – not doing this will affect your credit score and limit how much credit you can get.

How to Improve Your Credit Score Quickly

Having a high credit score is very important in your financial life. The higher your credit score, the better your chances are of qualifying for credit cards or loans with good interest rates. Depending on your credit score, it can either save you a lot of money or cost you a lot of money. However, quite a number of people have poor credit scores because of a missed payment, credit history errors, or others. If you are one of the people with a low credit score, you are not alone.  You must note that improving your credit score takes time, as there’s no instant way to fix a credit score. Quick-fix methods almost always backfire, so it is important that you don’t rush to get one. We will be discussing the different ways you can improve your credit score in this article, so let’s get right to it.

How to keep online payments safe

With the rise of many fintech companies dominating the payment industry, there are a lot more payment choices available; more than when banks dominated the industry globally. According to a 2019 global payments report by McKinsey, the global payment industry has grown by 6% from 2007 to 2018, and it is predicted to make a total revenue of over $2.5 trillion. The internet is already a scary place to be as there are many risks involved especially with cybercrimes but with the growth of the global payment industry, the cybercrimes risks have increased.

What Are All the Types of Insurance That You Need?

Everyone is probably on one insurance plan or the other because apart from the fact that insurance is a thing and may be compulsory in some aspects of day to day life, being insured actually takes off a large chunk of risk from you. Going through life without some level of insurance can be likened to life without a contingency plan should something happen. Now you may think you probably have everything under control, maybe you own your business and you are pretty healthy but things like auto accidents or natural disasters are not things people foresee and this is where insurance conveniently comes in. Now there are a ton of insurance plans and sometimes it’s difficult to see which one is necessary and which is just a scam but let’s go through some of these plans that we feel you absolutely need.

Consolidating Small Business Debt

If you have collected several business loans, it might do you some good to consider business debt consolidation. When you consolidate your business debt, you have the opportunity to streamline your debt repayment into one monthly payment at a potentially lower interest rate. Business debt consolidation is very beneficial as it makes debt repayment manageable and affordable. They are very beneficial, especially in situations where your business is at risk of bankruptcy. Do not fret if you have bad credit as you can get a business debt consolidation even with a bad credit score. Financial professionals even state that it is a good move. In this article, we will discuss small business debt consolidation in its entirety.

Should Married People File Joint or Separate Tax Returns This Tax Season?

A lot can happen in a year.  People get married, divorced, and have kids all the time.  There are tax implications for these life events.  Taxes must be addressed every year and this year is no different.  It is essential to ask yourself certain questions before writing a check to Uncle Sam.  If this is your first tax filing since getting married, you have to consider if you should file joint or separate tax returns.  Here are a few considerations.

The Benefits of Getting an Early Start on Your Taxes

According to a recent survey by TaxSlayer, approximately 52% of Americans are stressed about filing their taxes. Many of our thoughts may be, “What if I owe?” “How am I going to pay by the deadline?” These stressors are just a few of the many that plague taxpayers every year. Last year, 34 million Americans waited until the week before April 15th to file their taxes.