Debt Collections: Know Your Consumer Rights
All American consumers have protections against debt collectors under the Fair Collections Practices Act (FCPA). This federal law dictates how often debt collectors can contact you, how they can contact you, and what they can say. The debt collection industry can be an aggressive field with individuals motivated to do whatever it takes to get […]
Credit Inquiries Explained
Your credit score has a big effect on your financial well-being. A good score is essential to access favorable interest rates and loan terms. Your score can even determine whether you get offered the job you want or qualify to rent an apartment. Paying your bills on time and keeping your credit usage low are […]
The Ultimate Guide to Understanding Credit Card Interest Rates
As of 2024, the average American holds a credit card balance of $6,501. With the average credit card interest rate between 21 and 22%, that balance can come with some incredibly high interest charges. If you want to get your credit card debt under control and spend wisely, you need to understand, first and foremost, […]
Debt Consolidation vs. Debt Settlement: Which Is Right for You
You need help with your debt. And after some research, you’ve come across two popular choices: debt consolidation and debt settlement. But which is right for you? Both have their advantages and disadvantages, so it depends on your specific situation. Keep reading to learn everything you need to know about debt consolidation vs. debt settlement […]
Planning for Phased Retirement: Your Guide to a Flexible Exit from Work
After spending a significant portion of your life at a 9 to 5 job, the sudden transition into retirement can leave you feeling stressed. While you have more time for activities you enjoy and greater control over how you spend your days, there are some downsides. You may struggle to structure your days in a […]
6 Ways to Fix Your Credit After a Bankruptcy
No one wants to file for bankruptcy. It’s a monumental decision that can have a long-standing impact on your finances and credit. Still, challenges and unexpected expenses arise, and bankruptcy does happen. Know that you’re not alone. In 2024, there were more than 494,000 non-business bankruptcy filings and more than 23,000 business bankruptcy filings in […]
Joint Bank Accounts: What Are the Legal Implications of Opening Them?
For many people, opening a joint bank account makes it easier to share financial information with family members. A joint account is any type of financial account that has at least two owners. For example, you can have joint bank accounts with your spouse or an elderly parent. Although opening a joint account makes it […]
Credit Scores & Refinancing a Mortgage: Everything You Need to Know
Towards the end of 2024, applications to refinance mortgages kept banks busier than ever. As of September 2024, there was a 94% year-over-year increase in mortgage refinances. If you plan to join the millions of Americans refinancing their mortgages, you’ll want to prepare yourself. Most importantly, you’ll need to make sure your credit is in […]
Working in Retirement & Social Security Benefits: Reduced Benefits, Taxes, and Earnings Potential
If you’re nearing retirement age, you probably have Social Security benefits on your mind. You’ve worked all your adult life, and cashing into eligible Social Security benefits is your right. But, if you plan to continue to work in retirement, you might wonder how this will impact your benefits. The quick answer is that you […]
The Psychological Effects of Debt and How to Cope
So, you’ve found yourself in debt—and enough debt that you’re constantly worrying about it. Know that you’re not alone. As of the end of 2024, the average American household held an all-time high debt amount of $104,215. When everyone around you is in debt, it can become easy to normalize it. But debt can harm […]
