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Author Archives: Research Department

Attorney at Law Charles H. Huber Speaks Out on New Payday Loan Regulations

payday loan

St. Louis, MO (PRWEB) February 26, 2015 In a move to protect consumers from deceptive payday lenders advertising quick cash, the Consumer Financial Protection Bureau (CFPB) will soon draft the first-ever set of federal regulations for these lenders. According to the New Republic (2/11/15), the $ 46-billion payday lending industry collects about 12 million from their customers every year — ... Read More »

    FTC, New York Attorney General Crack Down on Abusive Debt Collectors

    ftc

    Charges Cite Harassing Conduct, False and Deceptive Claims Made to Consumers The Federal Trade Commission, jointly with the New York State Office of the Attorney General, has filed complaints aimed at shutting down two particularly egregious and abusive debt collection operations centered in Buffalo, New York that target consumers nationwide. According to the complaints, the separate enterprises used threats and ... Read More »

      How Smart IRA Planning Can Help You Pay Less For College

      taxform

      With college expenses at some of the best schools now exceeding $ 60,000 per year, education-related expenses are often one of the biggest obstacles many baby boomers face when saving for their own retirement. For many families, planning for a college education goes hand in hand with IRA’s and retirement planning. Retirement Assets are Exempt from the EFC A family’s ... Read More »

        Tougher Rules Coming for Debt Collectors

        tough-rules-debt-collection

        Year after year, federal regulators get more complaints about debt collection than any other industry. Now the griping has prompted an overhaul of collection rules for the first time in decades. A frequent refrain is that collectors sling harsh threats demanding payment on poorly documented debts. Yolanda Banda, an nurse assistant in California, is among the victims. She thought ... Read More »

          Paying for College: Are Scholarships Taxable?

          Black Leather Flogging Whip and money on white background. Not i

          Dear Carrie, My daughter was lucky enough to receive a significant college scholarship. Is this considered taxable income to her? And does her scholarship limit my ability to claim an education tax credit? — A Reader Dear Reader, First congratulations to your daughter — and to you. Her scholarship can be a significant financial boost for both of you. This ... Read More »

            The 5 Most Messed Up Policies in the World of Personal Finance

            To get the real answers, do the math and listen to what it has to say. Math does not lie.

            Life’s not fair, and neither is the world of personal finance. But there’s unfair and then there’s really, truly messed up. That $ 5 monthly fee on your prepaid card might seem unfair, for example, but the $ 495 annual fee that the Visa Black Card charges clearly takes things to a whole other level. There are numerous examples of ... Read More »

              Making Sure Loved Ones Are Prepared for Their Retirement Years

              retirement

              If a senior relative faces a sudden, debilitating illness or starts losing control of everyday finances, would you know where his or her retirement, estate and long-term care issues stand? If the answer is no, you’re not alone. In many families, it takes a crisis — a prolonged hospital stay or problems at home with neglected maintenance and bills or ... Read More »

                Have We Already Solved the Student Debt Crisis?

                Student Loans Concept

                In a recent article in the New York Times, “A Quiet Revolution in Helping Lift the Burden of Student Debt,” Kevin Carey posits that the market dominance of federal student loans combined with income-driven repayment plans has solved student debt crisis. It’s an intriguing and optimistic thesis. Unfortunately, in the course of an otherwise thoughtful article, Carey commits the all ... Read More »

                  How Your Parents’ Help Could Hurt Your Chances of Buying a Home

                  credit

                  Getting a mortgage will probably be the largest transaction of your life — no doubt, it will have an impact on your finances for the next 30 years. With that in mind, when it comes to how much you can borrow for that big transaction, any debts you have now will reduce that amount. And if someone else – a ... Read More »

                    The Change That Could Give Millions of Americans a Better Credit Score

                    The Rentals

                    Millions of consumers could be lifted out of subprime status and get better loan terms if credit reports and scores were broadened to consider on-time utility and rent payments, according to a study released Wednesday by Experian. Experian is advocating for inclusion of non-traditional entries onto consumer credit reports, expanding them beyond loans, credit cards and mortgages. Doing so would ... Read More »

                      The Way We Look at Student Loan Debt Is Dangerously Wrong

                      math

                      Another calendar quarter has passed and the latest edition of the Federal Reserve Bank of New York’s Report on Household Debt and Credit is on the wire. As usual, there’s plenty of news to pick apart. Take, for example, the reported $ 117 billion increase in average household debt in the final three months of 2014. Some might say that ... Read More »

                        5 Things You Can Finally Do Once Your Credit Improves

                        Happy people celebrating with money raining

                        Where was your credit in the spring of 2008? For many people it was teetering on the edge of solvency, about to plummet into the deep hole known as the Great Recession. By the end of the following year, 2009, mortgage delinquencies would climb to almost 7%, according to data by TransUnion. Credit card late payments also climbed, according to ... Read More »

                          5 Essentials for Getting a Good Car Deal

                          buying car

                          We’ve all heard terrible stories of car salesmen charging more than a car is worth. We’ve also heard of excellent bargainers shaving hundreds (or even thousands!) off of a car’s sticker price. Buying a car is a major purchase, so it’s important to calculate a budget you can afford, put in the necessary research and be prepared to negotiate the ... Read More »

                            Growing Consumer Debt Raises Concern for Economic Recovery, Says Pioneer Law Firm

                            debt1

                            (PRLEAP.COM) Westminster, CO – Feb. 25, 2015 – Pioneer Law (PioneerLawFirm.com) a Colorado firm providing bankruptcy, FDCPA, real estate, and business law services sees a trend of growing credit card debt as a risk to consumer finances. Since the end of the Great Recession consumers had made gains in repaying credit card debt, and still are weary of credit cards. ... Read More »

                              3 Terrifying Things Cybercriminals Can Hack

                              afraid alone

                              With the year of the data breach behind us, the new trend in cybersecurity is the growth of the Internet of Things — the devices around you that you use in your daily life that also record data and communicate with other networks via the Internet. While cybercriminals regularly go after computers and mobile devices to get access to your ... Read More »

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