August 2016 ~ CREDIT CHAOS

5 Reasons to Say No to 72- and 84-Month Auto Loans

9:30 PM

Alexis P. Jones, The Credit DIVA

Underwater means you owe more to the bank than the car is worth. “Ideally, consumers should go for the shortest length auto loan that they can afford,” says Jesse Toprak, CEO of CarHub.com. “The shorter the loan length, the quicker the equity buildup ... #owemoreonacarloan

7:40 PM

Alexis P. Jones, The Credit DIVA

We tell young people to start saving for retirement from their first job and not to quit, because even small sums can grow staggeringly large with enough decades of compound returns. #managingtwojobsandloans

4:20 PM

Alexis P. Jones, The Credit DIVA

Here's one thing everyone can agree on: Stress sucks. We all experience bouts of it from time to time, and managing stress (or at least remembering to inhale-exhale) can feel like an exercise in futility. #managingolddebt

1:30 PM

Alexis P. Jones, The Credit DIVA

Next scenario: these jeans make me look fat, so I disputed the charge with my credit card. Can the store come after me ... A chargeback for jeans that hug all the wrong curves is an abuse of the feature and could get you sent to collections by a ... #creditandcollections

9:10 PM

Alexis P. Jones, The Credit DIVA

Here's what you should look for in a bank account, and how to switch. 60. Put your bills on auto-pay. Late fees can be expensive, plus also lower your credit score, so automate as many of your bills as possible. 61. If you have credit card debt, look ... #creditscoreandbankaccounts

6:01 PM

Alexis P. Jones, The Credit DIVA

An attempt to improve your credit score or negotiate your interest rate down could save you money in interest payments and reduce the time it takes to pay off your debt. #creditscoreandbankaccounts

2:50 PM

Alexis P. Jones, The Credit DIVA

Financial advisors say that while there are ways to repair your financial situation - not to mention your credit score - you need to be committed and have patience. #creditscoreandbankaccounts

2:10 PM

Alexis P. Jones, The Credit DIVA

Farmer's comments align with a more disturbing study conducted by Javelin Strategy and Research which found that 22 percent of students in 2014 were notified that they had been a victim of identity theft fraud after they were denied credit or contacted ... #identitytheft

6:24 AM

Alexis P. Jones, The Credit DIVA

8:30 PM

Alexis P. Jones, The Credit DIVA

One of the first things to do when taking up a side job is to open a separate bank account specifically for it. Small businesses and sole proprietors often do this via a business checking account. With something that's a little more freelance, you ... #checkingaccount

5:30 PM

Alexis P. Jones, The Credit DIVA

If you have a traditional checking account, you could be paying hundreds of dollars in fees each year. According to a new report by the consumer finance website Wallethub. #checkingaccount

3:01 PM

Alexis P. Jones, The Credit DIVA

Unlike with other plastic, you can limit your spending to only the cash loaded onto your prepaid card, so you won't have to raid your savings to cover next month's credit card bill. The best prepaid debit ... Assuming a 6.5% rate of return, you'd be ... #retirementandcreditcarddebt

1:40 PM

Alexis P. Jones, The Credit DIVA

“We know anecdotally that Asian Americans value their families,” said Srinivas D. Reddy, head of full service investments at Prudential Retirement, at a media briefing I attended Thursday about the report, 2016 Prudential Research Asian American ... #retirementandcreditcarddebt

9:40 PM

Alexis P. Jones, The Credit DIVA

... even the best savings accounts. And short-term CDs will still help you achieve your more immediate savings goals, such as a vacation, even though their interest rates aren't quite as strong. Check out NerdWallet's best CD rates tool to see what's ... #savingsaccountinterest

7:30 PM

Alexis P. Jones, The Credit DIVA

In this credit range, you constitute a greater risk to the card issuer, so read the terms carefully and expect some potential areas of concern in exchange for those rewards. #creditcheck

4:30 PM

Alexis P. Jones, The Credit DIVA

If you are looking for items in your grocery store, it's a good idea to check the size and price. For example, you may see a 64-ounce bottle of ketchup on sale for $3.25, which appears to be a good deal. #creditcheck

2:14 PM

Alexis P. Jones, The Credit DIVA

“Gone are the days when getting car insurance without credit check at affordable premium used to be a highly challenging task. #creditcheck

9:40 PM

Alexis P. Jones, The Credit DIVA

In August, the interest rates of personal loans from some of the leading banks of India ranged between 11.15 and 22%. The better your credit score, the lower your interest rate would likely be while obtaining a loan. #personalloans

6:30 PM

Alexis P. Jones, The Credit DIVA

One big caveat, however: "Be cautious about consolidating federal student loans into a private loan, as you'll lose many favorable provisions of federal loans, such as income-based repayment, debt forgiveness, deferment, and forbearance," said Greg ... #debtconsolidationloans

2:50 PM

Alexis P. Jones, The Credit DIVA

Students can also check out these tips on how to save money on textbooks. It's hard enough to pay the cost of tuition these days - students need to be smart in managing their finances and economize where they can. TFA shared four apps that college ... #smartbankingtips

9:20 PM

Alexis P. Jones, The Credit DIVA

SHOULD I MAKE MY 25-YEAR OLD DAUGHTER GET A CREDIT CARD?

7:30 PM

Alexis P. Jones, The Credit DIVA

While her parents also agreed to give her the money for the down payment, the 33-year-old senior account manager in tech public relations is also paying that amount back to them. #lendmoney

4:20 PM

Alexis P. Jones, The Credit DIVA

Actively managing your credit card account can save you money, improve your credit scores and help you manage your overall financial life. #moneyandcredit

1:10 PM

Alexis P. Jones, The Credit DIVA

“Paid collection accounts are actually not removed from the credit report, they are simply updated to a zero balance and continue to appear for seven years,” Thomas Nitszche, media relations manager for ClearPoint Credit Counseling Solutions, said in ... #creditandcollections

9:08 PM

Alexis P. Jones, The Credit DIVA

For borrowers, signing up for one of those cards can have serious consequences, from high monthly fees to interest rates that make it difficult to ever get out of debt. #bankfeesandbadcredit

5:52 PM

Alexis P. Jones, The Credit DIVA

If your credit score is in the mid 700's or higher, you may often receive preferential treatment whenever your credit is involved. #Creditscore

2:10 PM

Alexis P. Jones, The Credit DIVA

The site, which compares credit cards, studied 300 U.S.-based public and private schools and found that 85 percent of them accept plastic for tuition payments. #privateschoolandfinance

9:20 PM

Alexis P. Jones, The Credit DIVA

A wide group of people are affected by back taxes, including those who are homeless or among the low income categories. Immigrants not current on their taxes cannot complete the immigration process. People who are incarcerated have tax issues because ... #backtaxesirs

7:20 PM

Alexis P. Jones, The Credit DIVA

Student loan refinancing is now driving about half the growth in the bank's consumer loans, matching the combined growth in mortgages, credit cards, auto lending, and home equity loans, said Brad Conner, vice chairman of consumer banking at Citizens. #autoloansandrefinance

5:30 PM

Alexis P. Jones, The Credit DIVA

POLOKWANE - Both victims stated their bank cards were switched while they used an ATM in the city and all the money in their accounts was withdrawn. #atmtheft

4:45 PM

Alexis P. Jones, The Credit DIVA

Although most banks and credit unions charge a few dollars per transfer, some ask for as much as $12. That's a lot in return for a service that's actually meant to protect you from fees. #moneyordersandbanks

4:44 PM

Alexis P. Jones, The Credit DIVA

9:20 PM

Alexis P. Jones, The Credit DIVA

When consumers get in trouble, they often take out a consolidation loan or move their debt to a lower-interest credit card, says Abby Eisenkraft, CEO of Tax Choice Solutions, a New York City-based tax preparation and representation practice. Eisenkraft ... #creditcardpayoffloan

7:30 PM

Alexis P. Jones, The Credit DIVA

This is what makes savings accounts with a bank, savings and loan, or credit union so appealing, and it is why so many people gravitate towards cash or cash equivalents for emergency funds. #lowincomeandcreditcards

4:20 PM

Alexis P. Jones, The Credit DIVA

Have you ever thought why people are bad at understanding and planning their finances? Why is their debt almost as big as their pay check? #badmoneymanagementhabits

1:00 PM

Alexis P. Jones, The Credit DIVA

No matter how close the family, living together can become challenging. ... Discuss a budget. Only 65 percent of millennials were employed at the 2014 Census. #budgetandfamilypayments

9:00 PM

Alexis P. Jones, The Credit DIVA

"A prior Chapter 7 filing does not automatically mean that your wife will not qualify for a mortgage or a new car loan, however, it may mean that she will pay a higher interest rate than someone with a higher, unblemished credit score," she said ... #lateloanpayment

6:01 PM

Alexis P. Jones, The Credit DIVA

Many consumers were left with bad credit scores after the crash, providing fertile ground for predatory lenders. As a result, about 22% of all auto loans made in the US are now of the subprime ... Many times, buyers can't afford the monthly payments on ... #Highinterestandbadcredit

4:32 PM

Alexis P. Jones, The Credit DIVA

In my experience, I have learned that it is often the result of poor credit management that leads to a carrier's financial hardship. #creditmanagemenr

8:40 PM

Alexis P. Jones, The Credit DIVA

“Of course, one of the major factors in qualifying for a loan is your credit score. Your credit score will not only determine if you qualify, but also what interest rate you pay. Maintaining credit health so they can qualify for better loans can mean ... #interestrateandcreditscore

5:10 PM

Alexis P. Jones, The Credit DIVA

Be it our long-term financial aspirations, how we manage money day to day, what we spend on and how we save - men and women view money matters a bit differently. Different wants and needs coupled with a history of predefined socio-economic gender ... #womenandmoney

2:00 PM

Alexis P. Jones, The Credit DIVA

... and strategic ways to lower your taxes. Part Four below offers smart ideas to inspire, cajole, or even trick yourself to save and invest more efficiently. ... provide routinely in their statements. If yours doesn't, use the retirement income ... #savingmoneyideas

7:40 PM

Alexis P. Jones, The Credit DIVA

Despite having higher incomes and a willingness to buy pricier homes than the rest of us, self-employed borrowers receive 40 percent fewer loan quotes, mainly because they typically have lower credit scores, according to a Zillow analysis. ... Not ... #goodcreditandbadcreditscores

4:05 PM

Alexis P. Jones, The Credit DIVA

Ignoring your car maintenance needs. If you ignore a sore throat, you at least have a shot at it disappearing a few days later. #carmaintenanceandinsurance

1:40 PM

Alexis P. Jones, The Credit DIVA

... gain or a sale of a security or the purchase or sale of a major asset like real estate; mortgage documents, vehicle titles and insurance policies; multiple copies of birth and death certificates; marriage licenses and divorce decrees; deeds and ... #divorcedecreeandtaxes

9:20 PM

Alexis P. Jones, The Credit DIVA

Don't reduce your retirement savings. "The kids should now be at a point where they fit into your life, not that you fit into their needs anymore. #emergencysavingsaccount

7:09 PM

Alexis P. Jones, The Credit DIVA

Speaking about money with family makes some seniors very uncomfortable, said Jerry Lynch, a certified financial planner with JFL Total Wealth Management in Boonton, New Jersey. And if you have siblings, asking about your parents' money could create a ... #Agingandmoneymanagement

6:18 PM

Alexis P. Jones, The Credit DIVA

3:00 PM

Alexis P. Jones, The Credit DIVA

Adults Screwing Up On Their Credit Score Management? That's the consensus from a brand new TransUnion report that shows a majority of consumers are confused about basic credit score components, even if they regularly check their score. "More than half of consumers who checked their score in the past 30 ... #creditreport

8:40 PM

Alexis P. Jones, The Credit DIVA

I don't mean to be a nag, but your credit card balance is growing again. Have you forgotten your promise to never carry a balance from month to month and not to make only minimum payments? #debtandcredit

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