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Please give me advice on how I should best move forward. I honestly thought I paid off a loan froma store 3 years ago. I wa very shocked to see a collections service on my Equifax. The original amont was around 400. Now with interst, it is close to 700. I cannot pay this. I am laid off. If I make a deal with them to pay some if it to close the debt, I think that will show on my equifax for 6 years from the date of the deal arrangement. I think if I just wait 4 more years, it is cleared from...Read More...
Last Reply By 4af · First Unread Post

Debt & Moving

Hi all, longtime reader/new community member seeking advice for handling debt while I need to move: I recently decided to work with a company to consolidate my CC debt with a personal loan. This is a huge weight off my shoulders because I had a particularly bad 3 years (2019 year being my worst yet) when it came to my mental health and personal finance that sent me spiraling to 20k+ in debt (interest payments were the main problem). As I'm sure you know or possibly even can relate, this...Read More...
Last Reply By MsKimberly · First Unread Post

Very Old Debt

Rick Campbell
I have a question. If a person has a very old debt that has been purchased by 3rd party collections. The debt is so old it has already fallen off their credit report. Can the collections agency do anything other than harass you or can they actually go for a judgment and still collect the debt? I thought after such a long time and already falling off credit reports that was the end of it. Or is a debt collectable regardless of how long its been? ThanksRead More...
Last Reply By Leslie Kay · First Unread Post

Charge Off Inquiry

I have 2 credit card accounts that were charged off back in May 2017 and are currently on all 3 credit bureaus. I would like to know what is the best way to contact the companies that have purchased the debt so I can negotiate a pay down and have them remove it from my credit reports. Any guidance will be greatly appreciated.Read More...
Last Reply By SHurley · First Unread Post
Here's the US News article showing the increase in total student debt for graduates over the past 10 years. What's even worse is those numbers don't reflect the 40% of students that never finish their degree. I'm sure the total number would be even worse. If you or someone you know is considering college here are 5 tips you can use to set yourself up (at least financially) before you go to school. If you don't feel like reading, here is a video I made explaining the steps Understand your...Read More...
Last Reply By A Penny Pincher's Guide · First Unread Post

Debt Relief

Hello. So I have about $25,000 in credit card debt on 1 card. $13,000 has an interest rate of 2.9% until 12/31/20 at which point it goes to 9.9%. The remaining $12,000 has an interest rate of 2.9% until 12/31/2021 and then goes to 9.9%. My FICO credit score is 730 and I'm current on all payments and have been paying more than the minimum balance especially since COVID began and cancelled many things I would spend my money on. I signed up for that AM-One thing the penny hoarder sent out just...Read More...
Last Reply By Wendy K. · First Unread Post

Online Banking

Cat Nichols
Looking for online banking that would help us consolidate all our debt and income into one bank account--is there such a thing? We have six direct deposits a month and tons of auto bill pays spread over three different accounts & pay periods...searching for a way to make it easier to keep track and maybe get a break on interest too.Read More...
Last Reply By Leslie Kay · First Unread Post

Student Loans at Navient

Navient does not allow any deferrments during covid19 as approved by our federal government. I owe $77K. Any ideas for how to reduce this or pay it off quicker? I'm only paying on interest now and want to get rid of it, finally. I am now fully retired with significantly reduced income.Read More...
Last Reply By Tanya062 · First Unread Post

School loans

My school loans are offering zero interest and forebearance for a set time (thru December, I think). Although I've continued to make the payments, maybe I should take a few months off and use that payment towards reducing my credit card balance. Thoughts?Read More...
Last Reply By PiNaY · First Unread Post
I had an extended period of unemployment and lived off of credit cards for a while. I have $17,000 in credit card debt at 13%, and another $8,000 at 0% with intro ending in March. I was close to 50% in credit card usage a month ago, but card companies dropped my limits by a total of $10,000 last month. This will leave me around 70% in credit card usage. Though I am 100% on on-time payment, my credit ratings among the three bureaus range from 570 to 650. I am now employed and can pay back...Read More...
Last Reply By Dear Penny · First Unread Post

Should I use my savings to pay off student loan debt?

Ann Hay
Hi. First time posting. Thanks for being a great resource. I finally paid my student loan down to the point that I actually have enough savings to pay it in full. I have been debating whether to use my savings or just continue to pay on them. Right now I'm paid ahead six months so the majority of my payments are going towards the principal. Any opinions? Advice? Thanks so much.Read More...
Last Reply By Ann Hay · First Unread Post

Getting a loan without a job

Andrew Riley
Hey, I've been looking into a loan to pay off credit card debt, but given the current circumstances of the pandemic, both my wife and I are unemployed. She's on unemployment, but working as freelancer, and I'm waiting for my contract work to pick back up. Are there ways of getting a loan even if you don't have a job? I know they need to see that you're getting money somehow, but I wonder if someone knows which lenders will be okay with that. Thanks!Read More...
Last Reply By Welbeck Williams · First Unread Post

7 Apps That Help You Build A Savings Account

Start conserving now without ever checking out the bank. Working up an investment savings account is one of the toughest things to do on a tight budget. Wait, you expected to pay off your bills, settle your debt, and create a rainy-day fund? It’s a lot to ask. Not surprising that 63% of Americans don’t have enough to cover a $500 or $1,000 emergency. Without an investment account, you may need to smack down your Visa to change a blowout, which can be much more expensive if you can’t afford...Read More...
Last Reply By Dorene Kleba · First Unread Post

Weekly Payments on CC

I am looking to knock out my credit card debt with a combination of avalanche and snowball. So obviously I will be making minimum payments on all but one card at a time. I would still like to pay the minimums divided by four weeks. Will this save interest? I’m guessing most of these credit cards are average daily balance.Read More...
Last Reply By Savingsmama · First Unread Post

How to get thru without any funds

Suffered a severe brain injury at work in 1996 the employer never reported left me incapacitated for 10 yrs. Group health ins was cancelled before i was fired. Unemployment approved but then denied due to inability to work. Employer paid no medical no benefits YTD. Been living on my unmatched MEDICARE taxes returned. Left homeless in my car until it was stolen. Found if you overpay your medicare or FICA tax like worked two jobs same time you can get that returned from employers. Went to...Read More...
Last Reply By [email protected] · First Unread Post

Senior Couple drowning in debt

We are in our late 60s but in good health and are drowning in debt. Our only asset is our home and what's in it. Car is leased. Our home is worth about $185,000.00 and we owe $72,000.00 on it plus have a home equity loan of $26,000.00. Our credit score is 700 and none of our many credit card and personal loan payments have ever been late. I have 1 personal loan of $85,000.00 from a friend at 6% interest that we now owe $29,000.00 for which the monthly pmt is $1,000.00. We need to pay this...Read More...
Last Reply By lismox · First Unread Post

Car loans

Jennifer Thurs
So my car loan is keeping me from getting a mortgage. My debt to income ratio is too high. I tried getting a small loan for a mobile home and was denied. I dont think I will ever get my own place. Might be stuck in an apartment the rest of my life.Read More...
Last Reply By Leslie Kay · First Unread Post

Refinancing without a co-signer?

Hey folks. I'm 24, with a little over 11k in student loan debt. I've heard a lot about refinancing, but everywhere I look to get decent rates I need a co-signer and I don't have anyone I could ask to fill that position. I've done well; even managed to pay off 3 loans over the past few years but I'm interested in how much I could be saving. Even just a personalized loan option with a lower rate would be appreciated. Any tips/recommendations? I've managed to pay off my previous loans with some...Read More...
Last Reply By sthom · First Unread Post
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