403b LOANS: EMPLOLYEE RETIREMENT PLANS
A 403(b) loan is much different from a loan you might get from a bank. There’s no credit check, and the loan terms can be quite favorable compared to those of a personal line of credit, a cash advance on your credit cards, or even a secured line of credit like a HELOC. In essence, you’re just withdrawing funds […]
NATIONAL DEBT STATISTICS
STUDENT LOANS: 1.56 trillion dollars in 2020, 1 in 5 families with this debt, average is $37,000 with many over 100k. 44.7 million Americans with student loan debt. 92% of student loans are federal. There are more than 2.8 million students with debts over 100k. 34% of borrowers are between 18 & 29. Average loan […]
CREDIT REPORTING, FAIR CREDIT REPORTING ACT, AGENCIES
There are 3 credit reporting agencies-Trans Union, Equifax and Experian. Their job is to take the information provided to them by creditors, loan agencies, bankers, mortgage companies, car companies and much more and report on how you handle your credit. this is from if you pay on time and if not when, how much you pay […]
DEALING WITH DEBT COLLECTORS
Learn the law-understand the Fair Debt Collection Practices Act, know what collectors can and cannot do. empower yourself to resist unfair collection practices. know how and when to communicate with creditors. Always protect the following first-food, shelter, utilities, clothing. Learn about things like mortgages, (types, underwriters, process, costs, interest rates, pre payment penalties and more. […]
