2 Years Later, Richard Cordray Confirmed as CFPB Director

Personal Finance

2 Years Later, Richard Cordray Confirmed as CFPB Director

2 Years Later, Richard Cordray Confirmed as CFPB Director

After a 2-year wait and a contentious legislative battle, Richard Cordray was confirmed Tuesday as the director of the Consumer Financial Protection Bureau. The CFPB was created under the 2010 Dodd-Frank Act to regulate consumer protection in the financial services industry. The CFPB aims to promote fair and transparent markets through education, enforcing and research. Thus... Read More

Can a Debt Collector Garnish My Wages?

Managing Debt

Can a Debt Collector Garnish My Wages?

Can a Debt Collector Garnish My Wages?

If you’re late on your credit card payments, should you be worried about whether a debt collector can garnish your wages? A debt collector can, in fact, garnish your wages, but only if it’s legal to do so in your state. For this to happen, a lawsuit must be filed against you. A possible outcome... Read More

Is It Ever Too Late to Negotiate a Medical Bill?

Managing Debt

Is It Ever Too Late to Negotiate a Medical Bill?

Is It Ever Too Late to Negotiate a Medical Bill?

About four years ago, our reader who goes by the screename “Stressed” was in a solo car accident. He was taken by ambulance to a nearby emergency room where he says he received “scans and a couple of staples” to one knee. He was only there for a few hours, and had no insurance, so... Read More

Higher Mortgage Rates Haven’t Deterred Buyers

Mortgages

Higher Mortgage Rates Haven’t Deterred Buyers

Higher Mortgage Rates Haven’t Deterred Buyers

In the past few weeks the cost of obtaining a new mortgage has climbed as a result of higher mortgage rates. And while consumers are expressing worries over this new trend, those fears have not yet translated to the market itself. At the end of June, 13 percent of consumers said that if mortgage interest... Read More

How Much Are You Spending on Junk?

Personal Finance

How Much Are You Spending on Junk?

How Much Are You Spending on Junk?

In America, we spend more money on consumer goods than any other country on the planet. Somewhere along the way, we’ve pinned our happiness on stuff; the unhealthy, the unnecessary, and the unimportant — aka junk. So do you know how much you’re spending on junk? Unhealthy Junk If it doesn’t come from the ground,... Read More

The Big Secret to Navigating the Confusing World of Credit

Credit Score

The Big Secret to Navigating the Confusing World of Credit

The Big Secret to Navigating the Confusing World of Credit

Understanding your credit reports and credit scores is important — but isn’t always easy. And if you have to deal with credit reporting agencies (CRAs), creditors, debt collectors, and the like, it’s sometimes infuriating to try to navigate this complex system: They use different terminology and they sometimes have different priorities and a different timeline... Read More

The Little-Known Way to Cut Your Mortgage Payment

Mortgages

The Little-Known Way to Cut Your Mortgage Payment

The Little-Known Way to Cut Your Mortgage Payment

For consumers purchasing or refinancing a home with less than 20% equity or 20% down, there’s a little-known fee that will apply to the total mortgage payment, effectively inflating the monthly outlay. Mortgage insurance is paid by the the homeowner to insure the lender against future mortgage payment default. Mortgage insurance, also dubbed as PMI... Read More

18 Money Experts You Should Follow on Twitter

Personal Finance

18 Money Experts You Should Follow on Twitter

18 Money Experts You Should Follow on Twitter

Social media is a great way to stay informed about the world around you, and the realm of personal finance is no different. The best social networking site for breaking news and updates is Twitter, where you can amass followers and peek into the insights of journalists, celebrities and financial advisers alike. Here are a... Read More

The Smart Way to Pay Off Your Mortgage

Mortgages

The Smart Way to Pay Off Your Mortgage

The Smart Way to Pay Off Your Mortgage

When it comes to debt, I always say the faster you can pay it off, the better. But until recently, not many people thought of a mortgage as debt in the traditional sense. This could partially be due to the fact that most mortgages have a fixed term and a fixed rate, and that a... Read More

Consumers Making Fewer Late Payments

Managing Debt

Consumers Making Fewer Late Payments

Consumers Making Fewer Late Payments

The recent economic downturn caused many Americans to take a hard look at how they handle their finances, changing many of their spending and borrowing habits. That, in turn, has led to the massive declines in delinquency and default during the past few years, and this trend continued through the end of the first quarter... Read More

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