Credit cards are easy to acquire and even easier to get you into a lot of debt. And getting out of credit card debt is a lot harder

Bankruptcy Should Only ever be used as a Last Resort - here’s why. Millions of Americans are behind on their bills, so you’re not alone.

Your medical history isn’t part of your formal credit history, but unpaid medical bills can affect your credit score. Over 43 million Americans have a negative payment history involving medical debts on their credit report. According to a 2014 study by the Consumer Financial Protection Bureau, half of all debt on credit reports is medical-related. In fact, over 43 million Americans have negative payment history involving medical debts reported on their credit. According to th

Three reasons why you should start building a credit profile when you are young.

Falling behind and owing the IRS can be one of the most stressful events in your life. That’s why DebtKO works with individuals and small business owners across the USA to help them resolve their tax and IRS problems quickly and professionally. DebtKO is one of the few companies that can help with relief from unsecured debts and IRS and tax relief. We partner with some of the best tax professionals across the country to ensure you get the best service and attention possible.

Getting into debt is easy. What these loan and credit card companies don't tell you is how hard it is to get out of debt.

Many US Consumers are blissfully unaware how much they are paying in interest on credit card debt.

Debt Collection is a massive industry in the US which is why many consumer groups and debt collection agencies are awaiting news from the Consumer Financial Protection Bureau on upcoming changes to legislation, These proposals will be the first update to the Fair Debt Collection Practices in more than 40 years. If you are behind on credit card payments, read on to find out how this might affect you. How big is the Debt Collection Industry? Currently standing at $11 billion an

At DebtKO, we help our customers get out of credit card debt. But when credit cards are a vital part of building credit and proving creditworthiness when buying a home, 2019 could be a tough year for Americans with credit card debt, as reported in a new report by Clever Real Estate. Key Findings Credit card debt ranks as the most stressful type of debt for Americans Almost half of credit card users (47%) carry a balance from month to month, and 72% of credit card debt holders

Debt Mountains to Climb According to CBS, a new Federal Reserve reports that since 2013, there has been a $1 trillion increase in the amount of debt American are carrying. Today, this can be broken down into an amazing $1.2 trillion in auto loans; almost $1.6 trillion student loans; and $1 trillion in consumer credit mostly from credit cards. How to avoid getting into debt Well it's easier said than done isn't it but the best way, according to many credit counsellors, is by n

A lot of people, just like you and me, are only paying the minimum on their credit card balances. Doing that is probably a bad idea and it may be time to have a rethink about paying the balance off or getting some help. The typical American household would need about 13 months to pay down the average debt of $8,195, according to a recent survey by CreditCards.com. That's assuming they're being very aggressive and putting 15 percent of their income toward paying off debt. (The

September 2008 was one of those rare interludes when the world shifts beneath your feet. Markets froze. Fabled banks stood on the precipice. The U.S. government, after initially standing by idly, brought out its bazooka. After a generation of deregulation, it genuinely seemed possible that the U.S. banking system would be nationalized. The crisis had immense economic and political consequences over the following decade. It helped fuel the rise of the Tea Party, and later, bot

FICO Credit Scores We've all heard about FICO credit scores, but the amount it can affect your life and your ability to borrow money, and the rates you can borrow at are directly affected by your FICO credit score isn't clearly understood by many people. We can help... read on. What does Fico stand for? FICO was created by the Fair Isaac Corp as a way to measure people's risk profile i.e. if someone were to lend you money, are you likely to pay it back? Why does a good credi

Americans are in a borrowing mood, and their total tab for consumer debt could reach a record $4 trillion by the end of 2018. That's according to LendingTree, a loan comparison website, which analyzed data from the Federal Reserve on non-mortgage debts including credit cards, and auto, personal and student loans. Americans owe more than 26 percent of their annual income to this debt. That's up from 22 percent in 2010. It's also higher than debt levels during the mid-2000s whe

The Trump administration is granting only partial loan forgiveness to the vast majority of students approved for help because of fraud by for-profit colleges, according to preliminary Education Department data obtained by The Associated Press. The figures demonstrate the impact of Education Secretary Betsy DeVos' new policy of tiered relief, in which students swindled by for-profit schools are compensated based on their earnings after the program. Of the roughly 16,000 fraud

Money issues making you lose sleep? You’re hardly alone. The American Psychological Association’s annual “Stress in America” survey consistently cites money as the biggest source of stress by about two-thirds of respondents. In the aftermath of the 2008 financial crisis and resulting Great Recession, therapists have begun to explore what’s colloquially known as “money anxiety disorder,” or MAD. Here are some of the symptoms that might indicate you’re suffering from MAD, which

Life can turn upside down in an instant when you are the victim of a data breach. Unfortunately, that was the case for millions of Americans in September 2017 when more than 148 million people had personal information exposed in the Equifax data breach, according to the Identity Theft Resource Center. That breach alone bared the financial records on 75% of all Americans with a credit report. Are You a Data Breach Victim? If you have been notified as a victim of a data breach,

As Americans continue to pile on debt, staying on top of payments should be a top priority in the current financial climate, one expert cautions. “We’re living in a time of rising interest rates, so it’s never been more important to get out of—and stay out of—debt,” Beverly Harzog, consumer finance analyst and credit card expert for U.S. News and World Report, told FOX Business. According to Northwestern Mutual’s 2018 Planning and Progress Study, average personal debt climbed

Whether you want to borrow money, open a utility account or rent an apartment, you're asking someone to trust in your ability to pay your bills on time. But lenders and landlords can't call up every one of your credit card issuers since sophomore year and ask whether you're good with money. They're going to pull your credit score. If your entire financial life could be boiled down to one number, it would be your credit score. It's a three-digit figure that represents your his

The way to stop having less money—and avoid emotional pain, whether that’s not being able to treat yourself or having your cable service cut off—is to save some of it. “Money never made a man happy yet, nor will it,” wrote Benjamin Franklin, a guy who knew so much about money that he’s now on our $50 bill. “If you know how to spend less than you get, you have the philosopher’s stone.” Frugal vs. Cheap Learning to save isn’t a matter of turning into a penny-pinching tightwad w