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Debt

Credit Traps for the Unwary

April 29, 2015

It’s hard to imagine functioning in today’s society without access to credit. However, you need to be careful not to fall victim to some of the pitfalls associated with it. Revolving credit can make it hard for you to pay off debt Credit cards allow you to spend money you don’t currently have, and to…

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Repairing Poor Credit

December 29, 2014

How do you repair poor credit? Improving poor credit can be a long and arduous process. If you have struggled through a period of financial difficulty, or even filed for bankruptcy, your ability to obtain credit may be compromised long after you have gotten back on your feet. While it may not be easy, there…

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Understanding Your Credit Report

December 12, 2014

Your credit report contains information about your past and present credit transactions. It’s used primarily by potential lenders to evaluate your creditworthiness. So if you’re about to apply for credit, especially for something significant like a mortgage, you’ll want to get and review a copy of your credit report. You can see what they see:…

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Pay Down Debt or Save for Retirement?

October 1, 2014
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You can use a variety of strategies to pay off debt, many of which can cut not only the amount of time it will take to pay off the debt but also the total interest paid. But like many people, you may be torn between paying off debt and the need to save for retirement.…

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Possible Relief for Consumers with Low Credit Scores

September 9, 2014

Changes to a widely used credit score may make it more likely for consumers struggling with low scores to obtain loans. Fair Isaac Corporation’s newest FICO® credit scoring model will change certain aspects of how it computes the information on an individual’s credit report. The changes come in the wake of discussions with lenders and…

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Americans Continue to Face Saving Challenges, Survey Finds

April 7, 2014
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According to a survey released last month by America Saves and the American Savings Education Council (ASEC), just 35% of Americans feel they are making good or excellent progress in saving money. Nearly two-thirds (63%) say they’re making fair or no progress. However, nearly 7 out  of 10 (68%) say they are spending less than…

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Tips for Taxpayers Who Can't Pay Their Taxes on Time

May 24, 2013
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You can avoid unnecessary penalties and interest by paying your taxes in full and on time. However, if you owe tax with your federal tax return, but can’t afford to pay it all when you file, the IRS wants you to know your options and help you keep interest and penalties to a minimum. Here…

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The 2012 American Taxpayer Relief Act: An Overview

January 9, 2013
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The recently enacted 2012 American Taxpayer Relief Act is a sweeping tax package that includes, among many other items, permanent extension of the Bush-era tax cuts for most taxpayers, revised tax rates on ordinary and capital gain income for high-income individuals, modification of the estate tax, permanent relief from the AMT for individual taxpayers, limits…

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The Fiscal Cliff: What Does it Mean?

December 24, 2012
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The final countdown towards the “Fiscal Cliff” is winding down as 2012 concludes. But what does it actually mean to you as a taxpayer? In summary, the fiscal cliff can be defined as: “A combination of expiring tax  cuts  and across-the-board government spending cuts scheduled to become effective Dec.  31, 2012. The idea behind the fiscal…

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Explaining the "Fiscal Cliff"

August 28, 2012
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What is the “fiscal cliff”? It’s the term being used by many to describe the unique combination of tax increases and spending cuts scheduled to go into effect on January 1, 2013. The ominous term reflects the belief by some that, taken together, higher taxes and decreased spending at the levels prescribed have the potential…

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