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Locations: ARIZONA, UNITED STATES, NORTH AMERICA, NEW YEAR
Many people have been approached by a family member, friend or even acquaintance about cosigning a loan, and aren’t sure how to proceed.
Key Points:
- Many people have been approached by a family member, friend or even acquaintance about cosigning a loan, and aren’t sure how to proceed.
- Cosigning a loan is a major responsibility and should not be considered without a full knowledge of the process and potential outcomes.
- Be aware of how cosigning a loan could impact your relationship: A cosigned loan that reaches full payment without issues can build trust and strengthen a relationship.
- Discover more about the pros and cons of cosigning a loan
The Federal Reserve Bank of New York reports total credit card debt in the United States has surged to a record-breaking $1.13 trillion.
Key Points:
- The Federal Reserve Bank of New York reports total credit card debt in the United States has surged to a record-breaking $1.13 trillion.
- At the same time, delinquency rates are rising, particularly among millennials ages 30-39, many of whom are also grappling with student loan debt.
- “Debt consolidation can be a game-changer for juggling multiple debts and paying off balances in a smart, strategic way.”
Robbins highlights three effective debt consolidation methods to pave the way to financial stability:
Consider credit card balance transfers for lower rates: Moving credit card debt to a new card with a lower interest rate can significantly reduce the amount of interest you pay.
- Balance transfers also allow you to consolidate multiple credit card balances into a single payment, simplifying your finances and making it easier to manage your debt.
Take Charge America, a national leader in nonprofit credit counseling and debt management, announced today that Manuel Salazar has been appointed CEO.
Key Points:
- Take Charge America, a national leader in nonprofit credit counseling and debt management, announced today that Manuel Salazar has been appointed CEO.
- Prior to joining Take Charge America , Salazar served in executive leadership roles with two nonprofits supporting individuals with developmental disabilities.
- “Take Charge America provides critical services for people struggling with their finances,” he said.
- Additionally, Take Charge America offers housing counseling to individuals in various parts of the homeownership or rental journey.
Professional Services,
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Personal Finance,
Name,
Comparison,
Diving,
PriceRunner,
Google Shopping,
Travel,
Mail They aren’t prominently advertised or communicated upfront — consumers think they’re paying one price, but end up footing a larger bill.
Key Points:
- They aren’t prominently advertised or communicated upfront — consumers think they’re paying one price, but end up footing a larger bill.
- Robbins notes these types of fees commonly appear on bills for hotels, resorts, travel, concerts, festivals, parking, online subscriptions and home services.
- Look for “service,” “convenience” and “processing” fees, which add to the total cost of a product or service.
- Services like Google Shopping, PriceRunner and Shopzilla can make it more efficient to compare prices online.
Retrieved on:
Wednesday, February 7, 2024
Missing a credit card payment can be stressful, and even accidental lapses in payments can have lasting repercussions on your credit.
Key Points:
- Missing a credit card payment can be stressful, and even accidental lapses in payments can have lasting repercussions on your credit.
- “Timely credit card payments are crucial for maintaining your financial stability and protecting your creditworthiness,” said Amy Robbins, associate director of operations with Take Charge America, a nonprofit credit counseling and debt management agency .
- Pay at least the minimum promptly: Credit card issuers typically wait 30 days before reporting a late payment to credit bureaus.
- Seek credit card debt relief: If you are consistently missing payments and find yourself overwhelmed by credit card debt, it may be time to seek professional help.
Retrieved on:
Wednesday, January 10, 2024
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Bank For many, this means redoubling efforts to pay off credit card debt.
Key Points:
- For many, this means redoubling efforts to pay off credit card debt.
- “In our evolving economy, financial health is critically important,” said Amy Maliga, financial educator with Take Charge America, a nonprofit credit counseling and debt management agency .
- Talk to an Expert: Schedule a free credit counseling session to establish specific, measurable and achievable goals for debt repayment.
- Consolidate Payments: Enroll in a debt management plan to consolidate your credit card payments into one, often lower monthly payment, saving time, money and stress.
Retrieved on:
Wednesday, December 6, 2023
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Pal Maliga With 67% of Americans planning to make a financial resolution in 2024 , paying off debt is the most common goal.
Key Points:
- With 67% of Americans planning to make a financial resolution in 2024 , paying off debt is the most common goal.
- Despite an air of optimism, resolutions like this are quickly put on the backburner without a plan driving them forward.
- Get an accountability partner: Enlist the help of a close friend, spouse or another loved one to reach your financial goals.
- Seek debt relief options: If you are deep in debt, seek relief options such as nonprofit credit counseling or debt management to help reclaim your financial independence.
Retrieved on:
Wednesday, November 8, 2023
"Your credit score can be a passport to financial freedom,” said Amy Maliga, financial educator with Take Charge America, a nonprofit credit counseling and debt management agency .
Key Points:
- "Your credit score can be a passport to financial freedom,” said Amy Maliga, financial educator with Take Charge America, a nonprofit credit counseling and debt management agency .
- Maintain Low Credit Utilization: Limit your spending and pay down debt to get your credit utilization below 30%.
- Limit New Accounts: New credit cards will reduce the average age, or length, of your credit history, also influencing your score.
- Consider a Secured Credit Card: If you're struggling to get approved for credit, start with a secured credit card.
Retrieved on:
Wednesday, October 11, 2023
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Pal Maliga Debt collectors are often a huge source of anxiety for consumers behind on payments, underscoring the need to keep thorough records of all communications.
Key Points:
- Debt collectors are often a huge source of anxiety for consumers behind on payments, underscoring the need to keep thorough records of all communications.
- Then, the debt will need to be verified by the collector.
- Right to ensure the debt is legitimate: Before giving any personal information, ask the collector’s name, debt collection company, company address and phone number.
- If you believe a debt collector is violating the FDCPA, you can file a complaint online or call (855) 411-2372.
Retrieved on:
Tuesday, September 19, 2023
Personal Finance,
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Pal Maliga With the Federal Trade Commission reporting consumer fraud losses up by 30% , fraud alerts help consumers safeguard their financial wellbeing.
Key Points:
- With the Federal Trade Commission reporting consumer fraud losses up by 30% , fraud alerts help consumers safeguard their financial wellbeing.
- Placing a fraud alert on your credit report is free and has no effect on your credit score.
- “However, the fraud alert process is designed to combat even more stresses down the road.
- Be proactive: Continually monitor your credit accounts and reports to ensure you’re not a victim of identity theft or fraud.
