If you are saddled with burdensome debt, the promises of a debt negotiation program may sound all too appealing. Don't be fooled, though: Debt negotiation programs are usually risky ventures that can significantly harm your credit. In some cases, they can even increase your debt.
It was only a matter of time after Labor Day before we started seeing displays for Halloween costumes, cards and candy. Yes, Halloween is a few weeks away, but retailers want to make an impression on consumers as soon as possible, so expect to see commercials for Party City advertising Halloween costumes this week as well.
It’s no secret that student loan debt is a prominent credit issue today. In fact, it is arguable that the amount of student loan debt in America is outpacing credit card debt. This is likely because a greater number of students are taking out loans from private lenders.
Anxiety can come from many sources. This includes money issues. Money-related anxiety can sometimes get to very high levels. When it does, it can have all kinds of major impacts on a person's life.
Established a decade ago, Public Service Loan Forgiveness served as a "broad, employment-based forgiveness program for federal student loans,” as described in an internal blog. The PSLF allowed government or nonprofit workers to have their loans erased after 10 years, provided they made on time payments.
Debt consolidation advertisements have become ubiquitous with today’s emerging economy. You probably recognize how they begin with a consoling message about a “secret” that debt collection companies don’t want you to know, and that you don’t have to pay all your debts…and that you don’t need bankruptcy.
When past-due or defaulted debts goes into collections, debtors must deal powerful agencies able to employ vast resources to secure the money they are owed. Their aggressive, sometimes harassing tactics make life miserable for those already struggling to make ends meet.
Credit bureaus have long been the target of lawmakers, federal regulators and consumers for their error-filled credit reporting. While there have been some improvements, a new plan could not only reduce scrutiny on the bureaus, but also improve their image with consumers.
Debt collection is a significant moneymaker. A third of the industry’s $11.4 billion-dollar revenue comes from companies that buy delinquent debt from original lenders and take on the collection duties.
Those who have borrowed money to buy a home or attend school do not often get the type of good news that Fannie Mae just announced. Purchasing a house while being saddled with student loan debt presents challenges in qualifying, let alone making timely mortgage payments.