Credit

How to handle debt in retirement

According to a recent report from the Federal Reserve, total household debt is rising quickly. The Fed found that debt levels jumped by $333 billion in the fourth quarter of 2021, the largest increase since 2007. And while that’s discouraging, the Fed also noted that debt levels among households where the head of family is 55 or older are also on the rise. For those households, it’s not a good sign for retirement. If you’re nearing retirement or already retired and carrying debt, here are some ways to handle it.

Here’s a guide on how to freeze and thaw your credit

Chances are pretty good that somewhere in the last few years, you heard about something called a credit freeze.

A study finds debt can lead to poor physical health

Credit card debt isn’t good for you… In more ways than one. Obviously, having lots of debt can cripple you financially, but a new study found that it can also negatively impact your physical health.

Carrying a credit card balance? Here’s what to do

With vaccination rates climbing and travel restrictions loosening, this summer saw many Americans vacationing again like it was August of 2019. The Allianz Partners USA’s Vacation Confidence Index survey found the average U.S. family taking trips this summer planned to pay more than $2,100 for the get-aways.

When it comes to building and maintaining good credit, the best path isn’t always obvious.

A new survey from U.S. News & World Report shows that nearly one-third of Americans surveyed were unclear about exactly what factors have an impact on their credit score. It’s no wonder with a lack of financial literacy courses available to most school-age students in the U.S.

 Missing a credit card payment isn’t the end of the world. If you’ve missed one payment by a few days, you can often get your credit card provider to waive any fees by citing your history as a good customer and reaching out to them directly. But if you’ve missed multiple payments for long periods of time — think a month or two — your credit will take a hit. Here are some ways to rebuild your credit score, should that ever happen.

Are you checking your credit report regularly? If not, you should be. According to data from the Consumer Financial Protection Bureau, credit report errors are skyrocketing.

Here’s yet another reason to consistently check your credit report: Debt Parking. This is the term used for a new scam in which debt collectors place fake debts on your credit report in the hopes of fooling you to pay up. Read on below on how you can protect yourself and keep your credit safe:

How to build your adult kids’ credit
If your child recently graduated college and is struggling to find a place to live, their credit — or complete lack thereof — could be the reason. Good credit is a key to landing apartments, mortgages, credit cards and loans. So what do you and your adult child do now? Try building their credit by following the steps below.

Is Debt Consolidation Right For You? Here’s How To Find Out:

Having multiple sources of debt can make you feel like you’re being pulled in several different directions at once, and takes a toll on you both financially and emotionally. That’s debt consolidation can help! It’s exactly what it sounds like — rolling multiple debts into one manageable monthly payment. Debt consolidation loans help bystreamlining the payment process with a budget-friendly option, as well as, potentially lowering your interest rate.