Minimum payment due, reads the box on your credit-card statement. What an enticing idea: Pay a small amount and you’re off the hook for the whole bill—for a while, anyway. Alas, as the more than 45% of Americans who carry a …
debt
Country Half Full: An Optimistic Take On Our National Debt Nightmare
It’s rare that a United Nations report can engender optimism about anything, let alone America’s finances. But a recently issued (and mostly overlooked) study from the global body’s International Human Dimensions Program might …
Would You Pay $520 in Interest to Borrow $375? 12 Million Americans Did Last Year
Americans spend more than $7.4 billion on payday loans every year. That’s hardly peanuts, especially when you consider that these billions are earned $50 to $100 at a time, often off the backs of the Americans who can least …
5 Smart Strategies for Managing Your Debt
Consumers have been good about paying down their debt. But they stink at managing what debt remains. Here are five ways to keep control.
10 Ways to Improve Your Financial Health (Even If You Only Do One)
Which Advanced Economy Has the Most Debt?
With all the talk of Greece’s impending exit from the euro zone, debt is once again in the headlines. Greece’s massive public sector debt, coupled with its inability to devalue its currency, has put the country at risk of …
We’re Finally Paying Our Bills On Time: Can We Stick With It?
Congratulations, America — it looks like you’re starting to get the hang of this “payment due date” concept. The number of retail credit card accounts in late-stage delinquency is at a six-year low, according to Fitch Ratings, …
U.S. Households Still Digging Out of Recession-Related Debt
After the recession, many Americans began cutting back and slowly chipping away at their household debt. Unfortunately, this noble effort seems to have tapered off, according to a new University of Michigan study. In fact, according to the study, one in every five households now owes more in credit cards, medical bills, student loans and …
Stop Fighting Over Interest Rates — There’s a Better Way For Congress To Fix the Student Debt Crisis
Interest rates on federal subsidized Stafford loans were cut from 6.8% to 3.4% during the current economic downturn. This “temporary” reduction is scheduled to expire this summer, halfway through an election year. With
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Alumni Credit Card? First, Lose the Greedy Pitch
Colleges are slamming graduating students with credit card offers that sound sincere but amount to a hard sell. Yes, the right card will help build a good credit score. But watch out for the accompanying advice on how to go about it.
Enough to Make You Sick: Debt Collectors Hit Up Hospital Patients
Having a medical crisis that lands you in the hospital is stressful enough, but there’s a disturbing new trend that’s so bad, it makes the indignity of wearing a hospital gown pale in comparison. Debt collectors are masquerading …
What Happens If You Don’t Pay Your Taxes?
“Ignore them and they’ll go away” is great advice for some of life’s annoyances. Unfortunately, it doesn’t apply to taxes. While the IRS has taken great pains to rehab its scary image (and is actually pretty decent to deal with), it still can and will go after people who blow off their taxes and deliver some pretty expensive consequences.