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Understand Debt
Not having money to pay bills is stressful. Calls from a collection agency looking for payment add a level of stress and anxiety that can be debilitating, particularly for seniors,…
There’s an inspirational quote about retirement not being the end of the road, but instead the beginning of an open highway. It’s an uplifting thought for folks after years of…
If you’re getting calls from a debt collection agency, it’s at best irritating and at worst frightening. The best way to stop the phone from ringing is to verify the…
The surest bet in gambling is that there’s no such thing as a sure bet. As casino gambling, online wagering and sports betting become more and more fixtures on the…
“Borrower beware” is the standard cautionary tale when it comes to payday loans. In some states that qualify as the Wild West of payday lending, the better advice is to…
Anyone intending to challenge a debt that has gone into collections — even someone with a case as rock solid as Gibraltar — needs to know what they’re up against.…
You’ve heard the ads on TV and radio. They spout enticing promises like “Same day cash advance!” Or, “Bad credit, no credit? No problem! You’re approved!” These are the misleading…
Assessing Your Debt If you wonder how much debt is too much, or how much is “normal,” the answer is another question: How much debt can you afford? U.S. household…
Debt collection is a billion-dollar industry that makes calls on more than one-third of the adult population in the U.S. If the phone rings – and you have legitimately incurred…
Times are tough for plenty of American households. But if you’re among those attempting to find a way out, beware of debt traps. Your concern, especially if you are among…
Sources:
- Haughwout, A., et al (2022, November 15) Balances Are On the Rise – So Who is Taking on More Credit Card Debt? Retrieved from https://libertystreeteconomics.newyorkfed.org/2022/11/balances-are-on-the-rise-so-who-is-taking-on-more-credit-card-debt/
- Kuehnhoff, A. (2018, February) Legal Basics: Debt Collection Protection for Older Seniors. Retrieved from https://ncler.acl.gov/pdf/Legal%20Basics%20-%20Debt%20Collection.pdf
- N.A. (2022, December 19) Complaints by date received by the CFPB. Retrieve from https://www.consumerfinance.gov/data-research/consumer-complaints/search/
- N.A. (2022, November 15) Household Debt and Credit Report (Q3 2022). Retrieved from https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2022Q3
- N.A. (2022, November 16) Supervisory Highlights Issue 28, Fall 2022. Retrieved from https://www.consumerfinance.gov/data-research/research-reports/supervisory-highlights-issue-28-fall-2022/
- N.A. (ND) Protecting older adults from fraud and financial exploitation. Retrieved from https://www.consumerfinance.gov/consumer-tools/educator-tools/resources-for-older-adults/protecting-against-fraud/