The Tax Form Everyone Fears

Managing Debt

The Tax Form Everyone Fears

The Tax Form Everyone Fears

If you settled an outstanding debt in 2013, you may have more paperwork to fill out. Creditors who forgive debts of $600 or more are required to file a Form 1099-C Cancellation of Debt, because the IRS says you must include canceled debt in your gross income. You then have to pay taxes on that... Read More

10 Ways to Fix Student Loans in 2014

Students

10 Ways to Fix Student Loans in 2014

10 Ways to Fix Student Loans in 2014

If you thought the politics behind the student loan pricing debate were contemptible, just wait until Congress takes up the reauthorization of the Higher Education Act this year. For nearly a half century, the HEA has been responsible for a variety of financial assistance programs for students and educational institutions. Title IV is arguably the... Read More

The Data Breaches Continue: Neiman Marcus

Identity Theft

The Data Breaches Continue: Neiman Marcus

The Data Breaches Continue: Neiman Marcus

Upscale department store Neiman Marcus has confirmed a data breach that struck its stores mid-December. The size and nature of the data compromised remain unclear, but the news delivers another blow to consumers already shaken by the massive breach under investigation at Target stores across the country. Neiman Marcus, based in Dallas, has stores in... Read More

What’s the Worst Kind of Holiday Debt?

Managing Debt

What’s the Worst Kind of Holiday Debt?

What’s the Worst Kind of Holiday Debt?

Right around now, you’re getting or paying the bills you racked up during the holiday season. Maybe you didn’t realize you pushed your balances so high, or perhaps the expenses seem manageable. Either way, do you know how bad your debt really is? Debts carry different burdens, depending on the type and repayment structure. If... Read More

How to Reorganize Your Wallet

Credit Cards

How to Reorganize Your Wallet

How to Reorganize Your Wallet

Now that the holidays are over, this is the perfect time for Americans to take stock of their finances. As we come to grips with how much we spent during the holidays, and anticipate our income and expenses for 2014, we factor these into our household budgets. Likewise, now is also a good time to... Read More

Seriously Delinquent Mortgages Hit 5-Year Low

Mortgages

Seriously Delinquent Mortgages Hit 5-Year Low

Seriously Delinquent Mortgages Hit 5-Year Low

There are fewer than 2 million mortgages in serious delinquency as of November, a 26% decline from the previous year and a 5-year low, according to the monthly CoreLogic Foreclosure Report. A seriously delinquent mortgage means the homeowner is more than 90 days past-due on payments and is in danger of default and, eventually, foreclosure.... Read More

The Ultimate Guide to Debt Collectors

Managing Debt

The Ultimate Guide to Debt Collectors

The Ultimate Guide to Debt Collectors

Your first reaction when hearing from a bill collector may be panic or avoidance, or perhaps a combination. But those reactions won’t help the situation and could make it a worse. Most collectors are just doing their jobs, and some of them are so good at dealing with consumers that they get love letters from... Read More

When It Comes to Debt, Does Size Matter?

Managing Debt

When It Comes to Debt, Does Size Matter?

When It Comes to Debt, Does Size Matter?

Big, overwhelming, crushing. Small, manageable, insignificant. There are many ways to characterize debt, but definitions are relative. What exactly constitutes “a lot of debt”? “Any debt is too much if you can’t make the payments,” said Credit.com Director of Consumer Education Gerri Detweiler. Missing payments can put a big dent in your credit scores, but... Read More

Retirees: Do You Have the Right Bank?

Personal Finance

Retirees: Do You Have the Right Bank?

Retirees: Do You Have the Right Bank?

If you are over 50, retired, or hoping to retire soon, now is a good time to make sure you’ve chosen the right bank. And your decision isn’t just about the financial products and services you need now, but the ones you may need in the future. Nancy Butler (not her real name) learned this... Read More

5 Financial Habits That Will Change Your Life

Personal Finance

5 Financial Habits That Will Change Your Life

5 Financial Habits That Will Change Your Life

With 2014 underway, New Year’s resolutions are a dime a dozen. Study after study concludes that annual resolutions are rarely kept. In the words of Mary Poppins, resolutions are like a pie crust promise — easily made, easily broken. Resolutions aim too high. While getting out of debt, spending less, and saving more are admirable... Read More

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