What’s the best way to save for your child’s future? How do you decide which of my student loans to pay off first? How can you get rid of an unwanted timeshare? If you have a money dilemma, watch the video below for the answers — or submit a question of your own!
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“I talked to Credit Solutions today. Are they a well trusted company to go with for debt solution?” – Mica
Mica,
No, no, no. Do you know how I know this? I went on the website of the company — Credit Solutions — looked into the about the company menu and found that they are based in Dallas, Texas. Then I googled, “Credit Solutions, Dallas, BBB.” I was looking for the Better Business Bureau report on this company. It came up right on top. And it is NOT pretty. The BBB gives this company an F (and yes, that’s on a scale of A to F just like school). The BBB said this: More…
“Is there an honest Debt settlement program? I have been looking at the Freedom Debt Relief program and feel frozen since I hear so many bad things about these programs in general. I have not yet had a late payment, and now have no job, so no money, and cannot make the minimums.” – Vici
Vici,
Thanks so much for writing. You’re hearing so many bad things about debt settlement programs for a reason. Although there may be a few good ones, most charge thousands in fees and don’t deliver results. Take a look at this story from the front page of the New York Times. The article lays it out, More…
Our financial situation has changed drastically in the past couple of years, and even after scraping up every last penny, we’ve gotten to the point where we can no longer make all of our monthly payments. We have been looking at out options, but are pretty confused. Can you explain to me how debt consolidation works? – Carol, Florida
Carol,
Debt Consolidation is a process where you roll all or some of your debts into a single loan, preferably at a lower interest rate than the ones you’re paying now. This idea is good in theory, and in some cases in practice. But there are also predators in the industry who will charge you thousands of dollars and pressure you into making a decision that’s not in your best interest. Instead of giving them your business, try to consolidate yourself using a Home Equity Loan or Line of Credit (HELOC), by refinancing your mortgage, or taking out a personal loan at a lower interest rate. Then take the new, cheaper loan, and use it to pay off credit cards, car loans, More…
Wage garnishment rates are up around the country, and debt collectors are targeting customers with delinquent payments on their credit cards to get the money they’re owed. This morning on TODAY, I talked about your rights as a customer if you believe you’re a target of wage garnishment — watch the clip below to learn more.
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I know how debt makes you feel. Scared. Helpless. Embarrassed. Ashamed. I also know that it’s possible for you to turn your life around. How? I’ve helped others do it time and time again.
Starting today — and for the next four Wednesdays — tune into the Oprah show for The Debt Diet, a program that helped a million Americans get back on their feet.
In a time of excessive spending, oversized homes and free-flowing credit, I worked with David Bach and Glinda Bridgforth to help three families and the millions of Americans who were watching from home dig their way out of debt. One family, the Bradleys, had $170,000 in debt, and another, the Egglestons, had $115,000 on 12 credit cards, all maxed out.
And yet these families found hope, strength — even love — in pulling together to dig themselves out from under and learning to live within their means.
Traveling? Find out the best ways to carry money during your vacation. Looking to buy a house? Discover how much money you’ll want to set aside before you take the plunge. Considering refinancing your mortgage? Determine if it’s the best choice for you. For help with these issues, and many more, watch the clip below from this morning’s Money 911.
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Like many of you, I woke up yesterday to the news that Sarah Ferguson, the Duchess of York, was caught on camera accepting money in exchange for access to her ex-husband, Prince Andrew, who also happens to be the British trade representative. Looking as disheveled as you’d expect someone who had no idea she was being filmed to look, Fergie said, “If you want to meet him in your business, look after me and he’ll look after you … you’ll get it back tenfold.” Looking after Fergie, it turns out, costs $730,000, though you can get through the door with an initial down payment of 40 grand.
Of course, the whole thing came crashing down around her. The person on the other side of the transaction was an undercover reporter who apparently specializes in getting the rich and famous to do stupid things. More…
Last week, the New York Times wrote about the new credit and debt tools I launched at FinovateSpring 2010 in San Francisco, California. If you need a personalized approach to paying down your debt, or the ability to see specific errors that might be hurting your credit score, you’ve come to the right place! For more information on the new Pay It Down! app powered by DebtGoal or the JeanChatzky Score Builder, click here to read what the New York Times had to say. Then, check back here for information on how to sign up and learn to better secure your finances.
Wondering why your credit score seems to be fluctuating? When you’re struggling to make payments on your debts, should you go into default? What happens if your debt consolidation company goes bankrupt? This morning on NBC, the expert panel tackled these money questions – watch the video below for the answers.
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