Archive | debt

How One Late Student Loan Payment Affects You

Have you ever wondered what would happen if you made one late student loan payment? Not being late every month, or every few months, but just once? Perhaps you envision being scolded by some Sallie Mae rep, incurring devastating fees, or taking an immediate hit on your already fragile credit score. And while these…Read more… […]

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Are ‘Buy Now, Pay Later’ Retail Loans A Good Deal?

While shopping online, you may have noticed “buy now, pay later” purchase options that break up the cost of an item into interest-free installments. It’s sometimes called “digital layaway,” except that your item is shipped to you right away—what’s not to like? Well, these loans can make shopping a little too easy, and…Read more… Continue […]

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Guitar Center files for chapter 11 bankruptcy amid debt restructuring efforts

On Saturday, November 21, the nation’s largest retailer of music equipment filed for Chapter 11 bankruptcy in the midst of debt restructuring. The beloved Guitar Center, which has long been a second home for DJs and producers thanks to their hearty inventory of Pioneer DJ products and other electronic music hardware, was already challenged by […]

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Should You Get a Personal Loan or Use a Credit Card?

As interest rates for personal loans tend to be lower than credit cards, you might wonder why people bother with credit cards at all? Personal loans have their own limitations, however, making them better suited for targeted spending—typically to fund unexpected expenses, home improvements, or to consolidate debt.Read more… Continue Reading at https://lifehacker.com

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Should You Get a Personal Loan or Use a Credit Card?

As interest rates for personal loans tend to be lower than credit cards, you might wonder why people bother with credit cards at all? Personal loans have their own limitations, however, making them better suited for targeted spending—typically to fund unexpected expenses, home improvements, or to consolidate debt.Read more… Continue Reading at https://lifehacker.com

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Debt Collectors Can Find You on Social Media Now

If you’re hiding out from creditors, you’re probably used to ignoring calls from unknown numbers. But the Consumer Financial Protection Bureau (CFPB) recently finalized a rule that makes it easier for debt collectors to contact people using social media, text, or by email. Here’s what you need to know.Read more… Continue Reading at https://lifehacker.com

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How to Talk About Debt as Newlyweds

Seventy percent of Americans get married with debt, typically student loans and credit cards, according to CNBC. A recent NerdWallet report showed 2018 college graduates owe an average student loan balance of $29,200 and Experian reported an average credit card balance of $6,194 in 2019. Read more… Continue Reading at https://lifehacker.com

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How to Talk About Debt as Newlyweds

Seventy percent of Americans get married with debt, typically student loans and credit cards, according to CNBC. A recent NerdWallet report showed 2018 college graduates owe an average student loan balance of $29,200 and Experian reported an average credit card balance of $6,194 in 2019. Read more… Continue Reading at https://lifehacker.com

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Why You Might Want to Stop Paying Your Student Loans Right Now

The CARES Act allows federal student loan borrowers to put off loan payments until October 2020—and many of those loans will be set at 0% interest during the forbearance period. This is different from other types of forbearance programs (think credit cards, mortgages), in which payments are waived but interest…Read more… Continue Reading at https://lifehacker.com

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Get All Your Credit Card Payments Deferred With One Call

While most credit card issuers have announced programs to aid consumers having trouble paying their bills during the coronavirus pandemic, it’s far from a universal free pass. Customers need to contact their card issuer to make a case for why they’re encountering an economic hardship; then the creditor needs to offer…Read more… Continue Reading at […]

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Get All Your Credit Card Payments Deferred With One Call

While most credit card issuers have announced programs to aid consumers having trouble paying their bills during the coronavirus pandemic, it’s far from a universal free pass. Customers need to contact their card issuer to make a case for why they’re encountering an economic hardship; then the creditor needs to offer…Read more… Continue Reading at […]

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What the CARES Act Means for Public Service Student Loan Forgiveness

The government has granted a temporary reprieve to student loan borrowers paying back federal loans. But while it’s nice to not have to pay your loans for a few months, it’s a confusing situation for one group of borrowers in particular: those looking to get their remaining loans wiped out by the Public Service Loan…Read more… […]

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What the CARES Act Means for Public Service Student Loan Forgiveness

The government has granted a temporary reprieve to student loan borrowers paying back federal loans. But while it’s nice to not have to pay your loans for a few months, it’s a confusing situation for one group of borrowers in particular: those looking to get their remaining loans wiped out by the Public Service Loan…Read more… […]

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