Debt Articles and Videos - Page 1

Sometimes your current loan will be a better deal than refinancing an interest only loan. If the closing costs are too high to refinance and your interest rate is reasonable, you might be better off keeping your existing mortgage loan. However, if you have cash sitting around, you might consider…

A short sale may not be the answer to your money, income and real estate problems. A short sale is a very difficult and damaging process for both you and the lender. Your lender may not let you do a short sale as a quick fix to your problems. Just because you think you can't afford your mortgage…

If you want to pay off a debt held by a collection agency, there are certain things you should know. Depending on how the collection agency will report the payment, your credit report, credit history and credit score may be affected differently. It's important that you know how the collection agency…

Credit reporting agencies or bureaus collect information from thousands of sources.

Do the major credit reporting agencies obtain information from sources outside of the United States?

Do Equifax, Experian and TransUnion get that information from overseas?

Debt overload or overboard? A small business owner is facing off with the recession. On one hand, he has to refinance his debt to stay afloat. On the other hand, navigating the complicated waters of small business loans has him confused. A miracle phone call seems to answer all of his needs and…

Social Security garnishment. Can a creditor go to court to garnish your Social Security benefits? Can the Federal Government ever garnish your Social Security benefits? Can your bank allow your Social Security benefits to be garnished? How can you prevent that from happening?

How much should I save each month? That's a question many Americans are pondering in the aftermath of the Great Recession. Some things never change: The more you save earlier in life, the more savings you'll have for retirement. This article includes money-saving tips, as well as a discussion of…

Should you pay your spouse's mortgage debt after his or her death? If your name was not on the mortgage, the lender cannot hold you personally responsible for your spouse's mortgage. Your spouse's estate will will be responsible for settling the mortgage debts after his or her death. However, you…

The latest scam warning from the BBB is about phony debt collectors. The scammers use personal information like social security numbers to get their victims to wire money under threat of going to jail. The BBB warns that just because they know your info and claim you owe money, doesn't make them…

I have a checking account and a savings account, a debit card, two credit cards, six student loans, home utility accounts and just as many online accounts to keep track of all my financial information. That means that many usernames and passwords to keep track of, too.

It's supposed to be easier to…

Online financial planning tools like Mint.com, Quicken Online and Equifax's new Debt Wise can help keep your personal finances on track. How do these online financial planning tools work? What features do they offer. A review of Equifax Debt Wise, Mint.com and Quicken Online explains the financial…

Transferring home ownership between family members can be problematic. Often, family members help each other out with a signature or by putting their name on the mortgage. However, you need to consider more than just a quit claim deed to transfer a title. Who is responsible for mortgage payments…

If you purchase a foreclosed property, that decision can be a great financial decision. The investment can pay off if you buy the right property, at the right time and in the right location but you need to make sound financial decisions.

Should you buy a car before closing on your new home? For many home buyers, when they're looking for a new home they also happen to be looking for a new car, new appliances and new furniture. That's a lot of cash leaving your wallet (or being charged in your charge card) all at the same time. It…

If you're a fan of the Ilyce Glink Show on WSB Radio, you will want to check out the podcasts from Ilyce Glink's Makeover Your Money Event.

The Makeover Your Money Event was a full day in Atlanta of sessions with Ilyce and expert panelists on topics like Debt & Credit, Financing & Foreclosure and …

Ilyce Glink's Makeover Your Money - Part 1

Debt & Credit with panelists Steve Ely, Equifax and Rodney Tullie, CCCS of Greater Atlanta
At the Makeover Your Money Event in Atlanta on May 9, 2009, Ilyce Glink moderated a panel discussion and question and answer session with the audience on debt and…

Ilyce Glink's Makeover Your Money - Full Day

Debt & Credit with panelists Steve Ely, Equifax and Rodney Tullie, CCCS of Greater Atlanta
Financing & Foreclosure with panelists Mike Rose, Bank of America; Sarah Bolling, Legal Aid Society of Atlanta and Margaret McNeal, CCCS of Greater Atlanta
…

The Treasury sent out notice today of which foreign governments owned the most U.S. securities and debt at the end of June 2008. They, in conjunction with the Federal Reserve, measure this information on an annual basis.

Here's the top 10 list:

The amount following the country's name is in billions of…

When you're deep in debt you may think you should sell your home. What if you live with someone in this situation? Is it your responsibility to help him or her pay off debt by selling the home the two of you share? You need to calculate how much each of you has spent on the property's maintenance…

Early in today's show, I took a call from Mike who said he had filed for bankruptcy 9 years ago, amid a tough and expensive divorce battle and custody fight. He managed to re-establish his credit, but had rebuilt his credit card debt to about $30,000.

He's working three jobs (he said he has no…

If you’ve got several debts you’re ready to pay off, start with the one with the highest interest rate. Once that debt is paid off, you can use the extra money to pay the debt with the next highest rate. By taking all the cash you’re pouring into paying off a balance and putting it toward your next…

When someone dies intestate (without a will) with property, the estate will have to go through probate. The estate will also be used to pay off any debts. An estate attorney is the best option to walk you through the details of an estate.

A woman’s husband has an addiction problem that is taking a toll on the family’s finances. If the husband doesn’t put his family before his addictions, the wife cannot try to save their marriage. A divorce attorney may be in order to help this woman get her life back on track.

If someone dies without assets in their estate, there is no way to pay off that person’s debts. Without assets, the debts die with the person. Unless there are living cosigners on that person’s account, no one is responsible for ensuring those debts are paid.

Once a debt is sold to a collection agency, it no longer belongs to the original debt holder. A debt collector buys the debt and negotiates with the borrower to pay it back. If you’re able to pay off a debt that’s been sold, you’ll need to work with the debt collector rather than the original debt…