This morning on Today I spoke with Natalie Morales and Consumer Reports’ Greg Daugherty about seven tips that can help you to never run out of money during retirement. Number one, live modestly! To learn more check out the video below.
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Hi Jean, I am really frustrated today. My husband and I claimed bankruptcy and it was discharged 2 years ago. We are trying to work out a modification on our mortgage (the mortgage was included in the bankruptcy). I just tried to get into a newer used car — the minivan we have is falling apart by the day. We are still in need of a co-signer. We have gotten a few small credit cards to help build our scores back up. We were at 740/745 when we filed and it brought our scores down to 640. We have built them up a bit to 700. When will we be able to get a car loan on our own? Is there anything else we can do? I got the feeling from the dealership that even if we had good scores, the house is what is dragging us down. Thank you for your time. – Robyn
Hi Robyn,
I’m sorry you’re frustrated. I wish that I could flip a switch and make this all better for you but the unfortunate fact about credit score improvement is that it takes months and, particularly after a bankruptcy, years — not days, not even weeks. Making sure that you pay every one of your bills on time and stay out of credit card debt is exactly what you need to do to get yourself back on your feet. More…
On Today’s Money 911 we talked about buying a leased car and consolidating student loans. To learn more, check out the full video clip below.
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On Today’s Money 911 we talked about planning for retirement versus saving for your children’s college education, monitoring an aging parents finances and how to prepare for an impending layoff. To learn more watch the video clip below.
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On Today’s Money 911 we talked about where to turn for holiday gifts for your children if you don’t have the funds. Where to look for financial help when caring for an ailing parent and how many credit cards is too many. To learn more on these topics and more watch the video clip below.
This morning on Today I spoke with Al Roker about the seven costs you should eliminate before you retire. To learn more watch the video clip below.
Hi Jean! My sister has found herself close to chapter 13 bankruptcy. Her attorney advised that she stop paying on her credit cards, which has now increased her total debt considerably. She is still making her mortgage payments on time. She and her spouse make too much money to file chapter 7, which she is fine with because she would rather pay off her debts. Her attorney said her monthly payments would total $3000 to do so – she knows she can’t afford that. Now the attorney is asking for another $1500 to continue to represent her. She doesn’t have that, so she can no longer use their service and she doesn’t know where to turn next. Do you have any suggestions? I advised that she contact her creditors herself to see what she could work out. Is it unwise to let one creditor know that you are working with other creditors as well? I have referred her to your website and your new books to see about finding some answers. She already has some of your books. Please help if you can. Thank you!
– Charger
At this point, your sister wants to look into credit counseling – and in fact, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that she – and all consumers – do so before filing bankruptcy. More…
This morning on Today I spoke with Ann Curry about the importance of discussing finances with your parents. To learn more watch the video clip below.
On Today’s Money 911 we discussed how to budget when living paycheck to paycheck, and what resources are out there if you are unemployed and about to lose your benefits.
Watch the clip below to learn more.
Hi Jean,
My husband and I have a $60,000 credit card debt. He is head of the household and is overseas for another year.We are a military couple, and have recently moved back to our home of record. We are renting a house since we don’t know what type of job he will have or where when he returns to the states. I am going back to school on the GI bill but have had to use our money to get started until it kicks in. He makes good money; however, we never seem to get ahead. We don’t have much in savings. It seems that something always comes up, or the kids need help. We do have savings bonds, and invest in a savings plan from his employer. He owns a house here in the states that we would like to rent out, it is to small for us, and it does need some touch up work. This has become such a strain on our marriage that we are on the edge of divorce. Could you please offer some assistance. Thank you – jddowning
Dear Joanne,
You’re in a boat with many people, unfortunately. New research has shown that debt — in particular — is the money issue that drags on families and spurs them into divorce. Conversely when couples can accumulate assets, their marriages become stronger. More…
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