Filed under: Debt
We here at Walletpop have warned you before about the practices used by debt settlement companies and how to avoid being taken in by pie-in-the-sky promises of magically-erased debt. Now, finally, the law might be catching up. According to the Center for Responsible Lending, the FTC — after a lengthy public comment period — is considering implementing rules that would prohibit these operations from pocketing consumers’ money without actually helping them get out of debt.
The FTC would technically invoke an already-on-the-books telemarketing law, which would apply to debt settlement companies due to the fact that phone contact generally takes place between the two parties, and the Center says it expects a final decision by the agency to come next month. (Continue the story…)
Filed under: Credit, Debt, Family Money, Career, Recession, Retirement Advice
With concerns rising that the economic recovery is stalling, and that we’re at risk of slipping into a “double dip” recession — when the economy shrinks, grows, and then goes back into reverse — it’s no surprise that one and three Americans are losing sleep. But did you know what we’re spending 3.5 hours a day worrying about our financial troubles?
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Filed under: Banks, Technology, In the News
Wesabe, one of the first personal finance management tools I wrote about when WalletPop was but a young blog, announced today that after July 31 it would no longer operate the accounts tab of the website. In an announcement posted to Wesabe.com Marc Hedlund, CEO of Wesabe, cited the inability to maintain customer support and security on a shoestring budget.
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Filed under: Debt, Economizer, Credit Cards
We here at WalletPop have spent plenty of time telling you about the big changes you can make to pare down your credit card debt and live a more financially stable life. While that’s still a good goal, maybe a major lifestyle change isn’t in the cards for you right now. Or maybe you’re already well on your way out of the red (if so, good for you!) .
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Filed under: Family Money, Retire, Credit Cards
You probably wouldn’t realize it from the way credit card companies market to consumers willy-nilly, but there are big differences between the “ideal” credit card for a college grad and those marketed toward his or her grandparents. According to experts WalletPop interviewed by phone recently, you really need to keep in mind what stage of life you’re in (young adult, married, senior and so on) when you shop for a credit card.
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Filed under: Borrowing, Credit, Debt, Real Estate, Retire, Saving Money, Refinancing
A friend of mine nearing retirement is looking longingly at a new Harley, but getting financing is going to be a challenge. He’s contemplating refinancing his house and using some of the equity to buy the bike.
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Filed under: Retire
By Caitlin Dewey, Kiplinger
Striking a balance between a high quality of life and low cost of living can be a difficult challenge for retirees. With that in mind, we at Kiplinger offer five destinations that seniors might find attractive places to live in the second half of their lives.
SLIDE SHOW: See the 5 Great Cities for Retirees, at a Glance
We started our search for top retirement destinations using the criteria we used to select our overall list of Best Cities for the Next Decade. What more are seniors looking for? Retiree-friendly factors such as a high number of doctors and large percentages of populations over 65 helped to drive a unique list of 20 growing cities.
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Filed under: Credit, Debt, Credit Reports, Personal Loans, Retirement Advice
A new study released on June 24 highlighted some troubling facts about the financial awareness and stability of today’s American women. The research, conducted by Harris Interactive for the Lending Club, found that only 65% of women knew their credit score vs. 74% of men. What’s more, only 72% knew the interest rates on their credit cards, compared to 84% of men.
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Filed under: Insurance
There are types of insurance that Americans don’t buy enough – renters insurance, disability insurance, long-term care insurance, flood insurance. Then, there are others that we buy way too frequently and are, for the most part, a waste of money.
Today, I am more worried about the latter — and there is good reason to be concerned. This morning, the New York Times published an op-ed column by Nobel Prize-winning economist Paul Krugman who wrote: “We are now, I fear, in the early stages of a third depression.” Hammering that point home, more than one million people are expected to lose their unemployment benefits this week.
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Filed under: Banks, Extracurriculars, Wealth
Today’s gold price shows that people believe in the intrinsic value of gold. Which countries have the largest hoards of the lovely yellow stuff? Click on a country in this Mint.com infographic to see its holdings.
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