Twenty years ago when Michael Riley first released his Credit Card Math tutorial, most people had no clue how interest on credit cards work. In fact, his revelations about how credit card interest and payment methods worked were considered so shocking that they ended up being featured in a national news program’s investigative report. Fast …
According to a HuffPo article, it seems our friends in Canada are beginning to worry a bit more about their personal debt levels. Data by Google shows the search term Pay Off Debt has been trending for Canadian searchers. From the looks of the chart though it is an on again, off again interest for …
This is the time of year when many people look at their debt situation and shudder. They dream of what it would be like to be out of debt. And, if they’re brave, they begin to plan a strategy to reduce the amount of debt they carry. They’ll begin with high hopes, but many of …
“Dear Steve, I have some extra money this month and wanted to know which was the best way to go. Pay on the cards with the smallest balances or highest or is the better route the one with highest interest? Taylor” Dear Taylor, If you’ve come into some extra money I’d first suggest you save …
wife and i are 55 years old, both work full time, two kids, one in college, one out, both went thru school on PLUS loans, we owe mortgage and home equity loan, plus lots of credit card debt, which may all equal the selling price of our home. at our ages and situation, would it …
I have a personal loan from about five years ago. I am paying on time every month. The balance at the beginning of this year was $7,500. I have since paid it down (using a second job and a bonus from work) to a little over 3,000. It is the only debt I have. Is …
“Dear Steve, I have $5000 credit card debt on one card with 11.9% APR. This debt has hovered around the 4500 to 5000 amount for about a year, as I have been paying off the minimum monthly payment each month, but have been hit with fees. My question is: I just received a $5000 bonus …
CNN Money’s recent article, “Debt collectors get nasty” showed some real insight into the current debt collection process in this country. They touched on information reported by the Federal Trade Commission, FTC, about the number of complaints of debt collector harassment issues on the rise. Apparently these debt collectors haven’t heard of a little thing …
“Dear Steve, My wife and I have 7,000 in credit card debt and 17,000 in cash in our savings account. Is it better to pay off the credit card debt to $0 and have 10,000 in cash left or is it better to pay off the cards a little at a time in chucks of …
“Dear Steve, I was in the military for a couple years, got used to plenty of extra spending money due to not having any rent or bills. I didn’t stop spending money once I got out so I ended up racking up the credit card bills. I’ve stoped using the cards for almost a year …