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Author Archives: Guest Post

What Happens to a Debt Collector That Gets Shut Down

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Travell Thomas is desperately trying to save his business, or at least part of it. His debt collection firm, Four Star Resolution, was raided during the morning on Feb. 11, as a result of a lawsuit filed by the Federal Trade Commission. Employees were told to leave immediately. A temporary restraining order now prevents Thomas — and any company employee ... Read More »

    Become Your Own Debt Manager to Chase Your Dreams

    last-minute

    Debt is the very common fact in most of American house hold. At first we take small loans to fulfill our daily requirements. If not managed well, a small amount of debt can lead us into great trouble. It doesn’t mean that you should avoid taking any kind of loans in your whole life span. Sometimes we don’t have a ... Read More »

      Stop Digging, This is How You Can Get Out of Debt

      debt

      I recently lost over 60 pounds using an approach that I believe will help me keep that weight off permanently. Why? Because I’ve changed many habits that have caused me to become over 60 pounds overweight. In fact I’m still using those principles and habits and expect to do so for the rest of my life. I still hear donuts ... Read More »

        Student Loan Debt Collectors Get a Black Eye

        Women fighting

        Student loans continue to dominate the news wires as our current administration seeks ways to ease the burden of student loan debt. There are hints of taking a crack at allowing bankruptcy for student loans. But until that time, which may or may not come, there still remains a major problem with the continued default rate in repayment of student ... Read More »

          Want to Stop Getting into Debt? Quit Doing This One Thing

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          I know someone whose 20-year-old niece wanted to buy a new car. She asked her grandma to co-sign for the car loan, but grandma said, “I love you. But no, I will not co-sign. If you miss a payment, I’m responsible.” So, the niece turned to her mom who couldn’t say “No” and co-signed the car loan. Doh! Who’s Liable ... Read More »

            4 Ways You Can Wreck Somebody Else’s Credit

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            Nothing can sour a relationship faster than abusing trust — and when it comes to credit, it can happen by accident. A friend does you a favor, and then what should have been your problem somehow becomes theirs. Damaging someone else’s credit is easier to do than you might think, and repairing trust can be difficult — and undoing the ... Read More »

              Those That File Bankruptcy Do Better Than Those That Don’t

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              This report is republished from the Federal Reserve Bank of New York and contains the authors analysis and finding about bankruptcy following the 2005 reform. Personal bankruptcy was introduced in the United States through the Bankruptcy Act of 1978. After passage of the act, bankruptcy rates rose steadily until 2005, when Congress passed the Bankruptcy Abuse Prevention and Consumer Protection ... Read More »

                Should I Continue with My Debt Management Plan?

                Adult Ed - Questions

                Q. I have been in a debt management plan for a year now. The payments are over $1,400 per month and I am having difficulty making these payments. Should I try to continue with my Debt Management Plan? A. In a Debt Management Plan (DMP), you make monthly deposits with the company that arranges this plan for you. The company ... Read More »

                  Student Loan Default Rates Really Suck

                  student loan default rates

                  Today, the New York Fed released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2014. The report is based on data from the New York Fed’s Consumer Credit Panel, a nationally representative sample drawn from anonymized Equifax credit data. Overall, aggregate balances increased by $117 billion, or 1.0 percent, boosted by increases in all credit ... Read More »

                    What to Do if Sued by National Collegiate Student Loan Trust for Not Paying Private Student Loans

                    Student Loans Concept

                    Question. What are my options if I have been sued by National Collegiate Student Loan Trust? Answer. Getting served with a lawsuit isn’t an enjoyable experience. If you aren’t familiar with the legal process, it can leave you confused, anxious and overwhelmed. I have spoken with a fair number of people that have been sued after they stopped paying their ... Read More »

                      What Should I Do If My Student Loan Relief Company is Not Delivering Results?

                      AFSLR Cover

                      I recently asked the Association for Student Loan Relief (AFSLR) to submit a guest post that described what consumers should do when a student loan relief company, and even an AFSLR member, didn’t deliver as promised. Imagine my pleasant surprise when they stepped-up and accepted the challenge. A big hat tip goes out to Ward Welke and Robby Birnbaum for ... Read More »

                        Identity Theft in a Digital Age: Deter – Detect – Defend.

                        ID Theft or Stolen Identity

                        Written by Daniel Boylan, instructor of finance at Ball State University Student debt is rising. It is rising at an alarming rate. According to NerdWallet, a typical student will leave college with about $33,000 in debt. Credit card is rising. It is rising at an alarming rate. According to JumpStart, a typical student will leave college with about $5,000. Add ... Read More »

                          When Bankruptcy Feels “Wrong”

                          Mature woman confused

                          By Paula Langguth Ryan When it comes to your debts, are you stressing yourself out financially or creating financial hardship for yourself or a loved one? Has anyone suggested you consider bankruptcy? Do you get queasy even considering the idea? I want you to pay attention to where any feelings of “it just feels wrong inside” to not pay your ... Read More »

                            Dirty Dozen Credit Card Debt Strategies If You’re Laid Off


                            Attractive red-haired female reading a manual before do-it-yours

                            Layoffs are happening at big name companies like IBM, JPMorgan Chase, La-Z-Boy, and Sony, as well as family-owned businesses. You’re not alone if you’ve been blind-sided by a layoff. Or you may have some advance notice. Either way, losing your job can trigger feelings of unworthiness, powerlessness and lack. (Three of the big six core beliefs I talk about in ... Read More »

                              Don’t Overlook the Insolvency Exemption for 1099-C Cancelation of Debt Income

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                              It’s that time of year again, when people are receiving 1099-Cs for debts forgiven or canceled during 2013. Perhaps you were in a debt settlement program with successful results, and a lot of debt was forgiven. Or it may be that your creditor decided to formally cancel an old delinquent account to close out their records. You might have taken ... Read More »

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