Consumer Confidential: When Collectors Call, Demand Proof of Your Debt

Suzanne Husted went through a rough patch about a decade ago and had to take out a pair of $300 payday loans to get by. She said she paid each back within a couple of months. Now she’s getting calls from two different debt collectors insisting that $2,400 in principal and interest is owed and that she better come across with some scratch or she’ll be dragged into court. “When I ask when I took out the loans, they say it was in 2010...

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6 Strategies to Help You Get Out of Debt

If you’re weighed down by debt, you’re not alone. Eight out of 10 Americans have debt, with the average American carrying around $68,000, according to a Pew Survey of American Family Finances. Debt isn’t necessarily bad. In some cases, it can actually help build wealth. But if you’re saddled with a lot of high-rate consumer debt, you could be putting your finances at risk. To help you eliminate what you owe, we asked the finalists of...

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3 Ways to Make a Better Plan For Your Money in New Year

Chris Hogan has been a staple among personal finance experts. The money guru once worked as vice president of a mortgage company and later turned to helping people successfully manage their money. As a finalist in the 2015 GOBankingRates “Best Money Expert” competition held in collaboration with Ally Bank, Hogan offers this money tip for 2016: “The best thing you can do for your finances is to create a plan. Think about what your...

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The 5 Biggest Financial Lies We Tell Ourselves

When it comes to your finances, it’s much easier to lie to yourself than admit your shortcomings. But whether you have a bad habit of putting off retirement savings or ignoring your debts, little everyday lies can have long-term consequences. If you want to climb out of debt and save for the future, you’ll need to stop lying to yourself and start honestly assessing your financial situation. Start today by owning up to these five...

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Money Talk: Tackling a Big Remodel Before Retirement

Question: I would like to add on and remodel so my home will be nice for me when I retire in a few years (probably around age 65). I have a recently refinanced 30-year mortgage at 4.1 percent, but I’ve been making additional principal payments on a 20-year schedule. I think I can do what I want for around $200,000. (But of course it may be more.) Post-construction, I’m estimating that the house would have a market value of $800,000 to...

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