If you are behind on your bills and wondering what to do, you are not alone. According to the Consumer Financial Protection Bureau’s recent report, “ Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent.” Learn what bankruptcy can and can’t do for you.
When your income is low, and you are desperate for a loan, the lenders are looking at your debt to income ratio. Let’s look at how this all-important number is calculated and what lenders consider a high debt to income ratio.
If you have a private student loan, there is no safety net if you have a few rough months financially. Let’s look at what happens when you default with a private student loan and what you can do about it.
Student loan trusts often buy student loan debt from big-name banks and use fraudulent tactics to collect a debt.
Scammers use sneaky ways to gain your trust. They may call, email, or text you from numbers that you know as belonging to a well-known business or they may impersonate an acquaintance on a social media platform. As an American consumer, it is crucial to understand the tactics of scammers in order to keep your finances safe. Learn how scammers work and what to look out for.
In recent years, the Consumer Financial Protection Bureau has been working hard to implement laws to protect consumers. As a consumer, you may have rights that you didn’t even know existed. Learn about some of the newer laws in place to protect you from unethical debt collection.
If you don’t want to end up paying tens of thousands of dollars extra over the life of a mortgage loan, learn about the ways mortgage lenders and brokers make their money off of you, the consumer, and how to stop them cold.
Know what kind of bad debt you are dealing with before paying up. Don’t let a debt collection agency trick you into making payments on a zombie debt. One small payment is all it takes to resurrect your debt and cause you more trouble than you can imagine. Read on to find out why you should never pay zombie debt.
If you have been struggling to pay bills recently, you are not alone. With the pandemic raging on and federal programs for mortgages, rent, and student debt ending soon, it may be increasingly difficult for you to pay your monthly bills with your current job. Learn about which monthly bills you should pay first.
Anytime a consumer does not pay a debt and the creditor writes it off, bad debt is created. An average American has $90,460 in total debt, but all of this is not bad debt. Learn about what bad debt is and why you don’t want to have it on your credit report.