5 Student Loan Terms Every Borrower Should Know

If you have student loan debt, you’ve probably noticed that your loans have a language all their own – and the last thing you want to do is spend your free time learning it. The good news is that you don’t need to be fluent in loan lingo in order to navigate the world of education debt … Read more

7 Student Loan Terms to Know to Save the Most Money

While applying for and receiving student loans is easier than in years past, many students sign up for heavy debt burdens without familiarizing themselves with important loan terms. Without knowing basic terminology, students are unable to competitively shop for loans, and choose the one that works best for them. Here are a few key terms … Read more

Do I Need a Really Good Sob Story to Get My Creditors to Lower My Interest Rates? – Laurie

“Dear Damon, I have Lots of valid credit card debt. Is there a safe, do it yourself way to reduce the percentages on credit cards? Is calling and asking for reduced APRs doable…..do you need a sob story? Laurie” Hello Laurie, That depends on your definition of safe. You can certainly call your creditors and … Read more

Forgotten Regulations That You Can Use to Make Your Creditors Treat You Fairly

If you are concerned about the way credit card companies and other lenders do business, you will be pleased to discover a little known regulation enacted for your protection. Regulation Z, or the Truth in Lending Law, regulates certain credit card practices and helps you know the true cost of credit and achieve a fair … Read more

I Carry Very High Balances On My Credit Cards. – Joyce

Joyce “Dear Steve, I CARRY VERY HIGH BALANCES ON MY CREDIT CARDS,AND ALWAYS MAINTAIN TO PAY MORE THAN THE MINIMUM (NO LATE PAY EITHER). WITH A FEW BANK MERGERS, I’M RECEIVING A CHANGE OF RATE FROM FIXED TO VARIABLE APR..AND IF I DON’T AGREE CLOSE THE CARDS,WHICH IN TURN LOWERS MY CREDIT SCORE.I DON’T KNOW … Read more

My Interest Rates Went to 24%. What Can I Do? – Kevin

Kevin “Dear Steve, I need to get my creditcard situation under control. All my a.p.r.’s went to 14% to 24%. Now my debt to plastic is almost $14,000. I pay $400/month to the card services but $225 goes to service charges. I’m always on time with payments, have a 710 credit score, and make $32K/yr. … Read more

I Have a Loan Through Bank of America and I’m Going to Declare Bankruptcy. – Nick

Nick “Dear Steve, I have a Loan through Bank of America and the APR IS 15.99%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!, I am going to declare bankruptcy soon if this isnt lowered. Can you Lower my APR? Nick” Dear Nick, These days 15.99% isn’t a bad interest rate on a credit card, But you didn’t say what kind of loan … Read more

Credit Card Companies Are Coming For You. Protect the Wife and Children.

I see a new advertising campaign in our future. When Banks Panic You Lose Even though the Federal Reserve has lowered its rate to 1%, banks are raising your interest rates in hopes of making a bigger profit. Oh yes, they are raising your fees or charging news ones as well. At a time when … Read more

Outrage Over Credit Cards with 222% APR

Outrage Over Credit Cards with 222% APR QCK, UK – 1 hour ago The money must then be repaid at a rate that is more than 10 times the average APR of a credit card. Debt groups and politicians have expressed anger at the …

Guest Post – Mortgage Tips and Money Saving Advice

Tom McConnon contacted me recently and wanted me to share this post with you. If you would like to contribute a guest post, you can contact me here. If you are a first-time home buyer, a mortgage may seem like an overwhelming and intimidating thing if you do not fully understand what it is. Here … Read more