Yearly Archives: 2015
Student Loan Debt Crisis Harming Senior Citizens
An article published last week by Bloomberg Businessweek tells the story of Robert Murphy, a 65-year-old man who holds nearly $250,000 in student loan debt. The balance was amassed from seven different Parent PLUS loans, which he used to send his three children to college. After losing his job in 2002, Murphy was no… Read More »
Why Millennials Are Saving Less for Retirement
According to a recent study, young career-goers who enter the workforce without student debt are better set for retirement than their indebted counterparts. Specifically, millennials with $30,000 in student loan debt are more likely to enter retirement with significantly less savings than other graduates their age. In fact, students who graduate with debt could… Read More »
Bankruptcy Appellate Panel Rules on Statute of Limitations Argument
The Bankruptcy Appellate Panel (BAP) of the Ninth Circuit recently had an opportunity to consider a statute of limitations argument concerning fraudulent transfer actions based on actual intent. In deciding whether to consider the issue, the BAP had to determine whether the law raised factual issues or a purely legal issue. Ultimately, the BAP… Read More »
Avoid Debt this Holiday Season with These Budgeting Tips
It is already mid-November, and the holidays are nearly here! With Black Friday coming up in just a couple of weeks, many people are getting ready to take advantage of some amazing deals to kick off their holiday shopping. Between buying gifts, decorating your home for the December holidays, and other expenses, all of… Read More »
4 Things You Should Know About Credit Card Debt
For many people, the word “credit card” is often synonymous with “debt.” Contrary to what most people believe about credit, however, credit cards and debt do not have to go hand in hand. In fact, millions of credit customers use their cards regularly and never pay a penny in interest or other fees. You, too,… Read More »
How Is My Credit Score Calculated?
Most people have heard of credit scores and realize how they can effect a person’s life. But, many people do not understand how a credit score is actually calculated. To help, we have broken down what makes up a person’s credit score. 1. 30% of Your Score= Amounts Owed This takes into account how… Read More »
Ocwen Financial Apologizes for Thousands of Backdated Letters
Mortgage-servicing company Ocwen Financial Corp. is currently investigating an error that led to potentially hundreds of thousands of backdated letters being sent to borrowers. This investigation is in response to a probe by New York’s superintendent of financial services, who claims that the company ignored the “pervasive” problem for months after a whistleblower initially… Read More »
How Important is Your Credit Score?
Have you ever considered how important your credit score can be? Oftentimes, individuals do not consider the impact of a negative or positive credit score. However, it can be the deciding factor in many cases. To help you understand, we have listed three points regarding how your credit score can affect your life. 1…. Read More »
Avoid Holiday Season Debt with These Financial Tips
Oftentimes, the holiday season brings about the temptation to give to your loved ones. While this can be an enjoyable part of the holidays, it is important that you take the appropriate steps of budgeting to avoid drowning yourself in unpayable debts. To help, we have compiled a list of things you can do… Read More »
Security-Chipped Credit Cards Replace Magnetic Strip Credit Cards
Credit card fraud has been one of the most common types of fraud for quite some time. In fact, the Federal Reserve reports that in 2012, there were over 13.7 fraudulent credit card transactions that totaled more than $2.3 billion in charges. Research states that the magnetic strips located on the back of these… Read More »