Debt

Here’s How To Defend Against Debt Collectors

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  The Consumer Financial Protection Bureau recently sounded the alarm on unlawful debt collection practices and now allows consumers to file complaints against collectors that don’t follow the rules. Here’s what you need to know when it comes to debt collectors who just won’t leave you alone: 1. Debt in collection is an epidemic...
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5 Tips for Paying Off Holiday Debt

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The holidays are over – but the debt isn’t – especially if you used your credit cards to finance your holiday purchases. As the credit cards statements start arriving in the mail over the next few days, here are some tips on how to tackle your holiday debt. 1. Figure Out Exactly How Much...
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How Debt Affects Your Credit Score

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Got credit card debt? You’re not alone.  Americans have 609 million credit cards, according to the Federal Reserve Bank of Boston – with an average of 2.7 credit cards per consumer. Credit card debt causes huge strain to your financial and personal lives.  The average household has $15,788 in credit card debt, according to...
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Paying Off Holiday Credit Card Debt

Paying Off Holiday Credit Card Debt

The holiday season is long over, but for most, the credit card statements have arrived, showing every dollar we spent in December.  If you racked up hundreds or even thousands of dollars in credit card debt over the holiday season, take into account the following: 1.  How Much Debt Do You Have…and Why? While...
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New Debt Settlement Rules to Help Consumers

If you’re in debt, the last thing you want to do is to get yourself deeper into financial trouble.  That’s exactly what debt settlement companies can do.  I propose the more traditional ways of paying off credit cards debt (pay more than the minimum payment, try to lower your interest rates, do a balance...
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Student Loan Debt Exceeds Credit Card Debt

Debt is an unfortunate reality that millions of people are facing throughout the country.  The Federal Reserve says that Americans owe $826.5 billion in outstanding credit, according to a report from June.  However, Mark Kantrowitz, publisher of FinAig.org and FastWeb.com, says that the total student loan debt, including federal and private, now stands at...
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Student Loans Cannot Be Discharged in Bankruptcy…Or Can They?

Student loans cannot be discharged in bankruptcy – you could claim bankruptcy 100 times and your student loans will still exist.  Some lawmakers, however, are trying to change that!  Debt from credit cards, auto loans and mortgages will be discharged (completely erased!) upon claiming bankruptcy.  Now this may sound good, but your credit score...
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The Screaming Debt Collectors

It’s happened to most of us: debt collectors constantly calling – and always at the worst times, like during dinner!  Now there is actual data that proves how rude some debt collectors are becoming.  The Federal Trade Commission (FTC) released a report showing that in 2009, the number of complaints against debt collectors was...
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