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With the Federal Trade Commission cracking down on debt collection methods, consumers are less likely to experience harassing calls from debt collectors. misrepresentation or harassment when debt collectors call.
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What happens after you are discharged from bankruptcy? With your credit score damaged and your financial life altered, how do you transition to a new life that includes the ability to qualify for low-interest rates, a good job, and a healthy bank account?
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Consumer interest and media attention spiked in mid-January 2012 when personal finance expert, Suze Orman, introduced a prepaid debit card with the potential to help improve credit scores. In a unique pilot program, transactions on Orman’s cards are reported to TransUnion to determine if spending activity can be included in credit scoring. Other celebrities including Russell Simmons, Alex Rodriguez and even the Kardashian sisters have sponsored cards, bringing broader awareness to consumers; but the question is: Are they right for you?
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Recent headlines and sound bites might have you thinking otherwise, but analysis of credit card usage data indicate that the clear majority of Americans do not hold credit card debt. In fact, according to the Federal Reserve, more than a quarter of Americans have no credit cards at all. Among cardholders, only half carry a balance (roughly 37% of the population). That leaves 63% of the population credit card debt free.
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Because social networking tools such as FourSquare tip off you and the rest of the world to where your friends are, it's tempting to want to keep up with the social habits of virtual pals. And those habits can be costly. "Rarely do our friends and acquaintances 'check in' at Walmart," says Karen Carlson, director of education at InCharge Education Foundation, a financial literacy and consumer education program. "But they certainly announce when they check into four-star restaurants, major retailers and attractions."
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Giving your house a spring cleaning? Bet your finances need a good cleanup, too.
Dig out. Know where you stand. Review bills. If you're still paying off the holidays, "do not plan a summer vacation," says Karen Carlson, director of education for InCharge Debt Solutions. Set goals for drastically reducing or getting rid of [debts] by year-end.
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Sylvia Mitchell, 46, of Raleigh, North Carolina, a single mother of two, lost her job as an airline ticket agent in September 2005. Sylvia Mitchell finally landed a fulltime position with the Transportation Security Administration. At the same time, she sought help from a nonprofit agency called InCharge Debt Solutions (a member of both the NFCC and AICCCA).
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Karen Carlson, Director of Education for InCharge Debt Solutions, said in an email that using social media sites can sometimes lead to money issues, which then can result in stress. “One of the often overlooked effects social media sites have on people is in the area of personal finances,” Carlson said.
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There is some good news in these troubling survey results, says Karen Carlson, director of education for InCharge Debt Solutions in Orlando, Fla. — more people are willing to admit they don’t know enough about money.
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InCharge Debt Solutions, a nonprofit organization that provides financial literacy education and assistance to consumers and servicemembers struggling with debt problems, announced today that it has added four new members to its Board of Trustees.
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If you are underwater in your mortgage and struggling to keep up with your payments, you are not alone: forty-five percent of Florida home mortgages exceed market value. Here are five tips to help you make it through these turbulent financial times.
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InCharge® Debt Solutions (“InCharge”), a nonprofit credit counseling agency, with its affiliate InCharge Education Foundation, has helped clients complete over 800,000 bankruptcy courses since the company initiated the educational offerings in 2006. The company will be showcasing its Pre-Filing Credit Counseling, and Pre-Discharge Debtor Education courses at the 2012 Spring Seminar of the National Association of Bankruptcy Trustees (NABT) to be held March 30-31, 2012 at The Venetian/Palazzo in Las Vegas, Nevada.
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SUNNY Across Central Florida host Felix Albuerne spoke to Mark Hoewing and Karen Carlson from InCharge Debt Solutions about the new online video series and the response it has so far garnered, as well as a number of other topics in regards to financial literacy and fiscal responsibility.
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Karen Carlson, the director of education at InCharge Debt Solutions notes that the spousal IRA can be a great way to catch up: "Significant numbers of middle-aged and boomer generation Americans are just now starting to save for retirement. Exhausting the spousal IRA is a great way for couples to kick retirement savings into high gear and 'catch up' to where they should be at this point in the game."
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With more than 40,000 soldiers recently returning to the U.S. from Iraq and another 30,000 expected to come home from Afghanistan this year, one nonprofit organization is helping servicemembers deal with financial problems.
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It's also important to know yourself before you send in an application, adds Mark Hoewing, a spokesman for the nonprofit counseling agency InCharge Debt Solutions in Florida. "If you know you'll pay the bill in full each month and the card has good benefits [such as] a signing bonus, rewards, etc., then feel free to apply, regardless of the interest rate."
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"College is a great time to establish really strong money habits and really No. 1 -- and what most people don't do -- is shop around," says Karen Carlson, director of education and creative programs for the InCharge Education Foundation.
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At a time when Realtor.com reports that eight of its “Top 10 Turnaround Towns” are in Florida, nonprofit InCharge Debt Solutions is gearing up for what it believes will be an increasing need for foreclosure prevention assistance in 2012 in the Sunshine State.
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Homeless single mothers face incredible challenges when it comes to being able to mentally, physically and financially care for their children and themselves. These responsibilities mixed with a lack of resources can be a recipe for continuous struggle. InCharge Debt Solutions and Shepherd’s House are announcing today a partnership to provide the needed financial literacy training for these women.
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“Stay Debt Free, My Friends” is the parting advice given by the fictional online character introduced by nonprofit InCharge Debt Solutions in a new video parody released today.