Finance Globe

Consumers can now check up on credit card issuers on the U.S. Consumer Financial Protection Bureau website and find out what types of complaints have been filed against lenders as well as whether the issues were resolved within a reasonable time frame.CFPB Director Richard Cordray said in a press briefing, “The Consumer Complaint Database is a major milestone for consumers and all those who are interested in knowing more about their day-to-day experiences.” The beta version...

Paying your credit card balance in full each month is the ideal way to use your credit card. You don’t risk getting into debt and you never have to pay interest on the balance (as long as the card has a grace period). However, many of us have fallen into the habit of carrying a credit card balance because it’s easier. Even if you carry a balance, do it the smart way. Avoid carrying a balance...

Picking out the car is the fun part of the car buying process. The loan, on the other hand, isn’t so much fun. You’ll be stuck with the loan for four or five years, so make sure you shop carefully. Just like you don’t want to end up driving a lemon for the next several years, you also don’t want to be saddled with a bad loan at the same time. Check your credit first. Before...

When it comes to credit, thin is not in. In fact, you want a fat credit file full of lots of positive information. What is a “thin” credit file and how do you know whether you have one? More importantly, how can you get a more desirable credit report? The word “thin” is used to describe a credit report that’s either short or that doesn’t have very many accounts or both. If you’ve just recently started...

Debt collectors are known for using intimidation tactics to bully people into paying outstanding debts. Don’t get me wrong – there’s nothing wrong with a creditor or collector pursuing you for a debt that you’ve agreed to pay. However, it’s often the way collectors go about collecting debts that keeps them in trouble with the authorities. No matter how much weight they throw around, you’re not totally powerless against debt collectors. You don’t have to live...

The amount of outstanding student loan debt has surpassed that of credit card debt for the first time in history. Studies predict the amount of student debt could pass $1 trillion this year. Student loan borrowers all over the country are crushed by student loan debt. What makes student loans more burdensome than other types of debt is that it’s nearly impossible to have the debt discharged in bankruptcy. The Bankruptcy Abuse Prevention and Consumer Protection...

“You can run, but you can’t hide” is never truer than when it comes to money, more specifically to owing money. You can get away with not paying your bills for a little bit, but eventually your creditors, lenders, the IRS, and every other person you owe will all catch up to you. The longer it takes, the worse the consequences can be. Credit card delinquency Credit card debt seems harmless. The creditor doesn’t have the...

Out of all the bills you pay every month, only a few of them are routinely reported to the credit bureaus. For example, credit cards and loan payments are almost always updated on your credit report each month. On the other hand, payments on your utility bills, cell phone, or insurance generally won’t be listed on your credit report. Pay on time or pay a few days late, the credit bureaus won’t know (you’ll probably incur...

Whether it’s your first job or just a new job, the first paycheck is critical. There’s often a lag between the day you start and the day you get your first check, so you may be anxious by the time the check comes. But, make sure you have a sound plan for how you’re going to spend that check and every check that comes after it. Don’t start spending before you actually get the first paycheck....

The average amount of credit card debt has declined over the past several months, but many families are still struggling to pay basic necessities. Based on a recent survey, 40% of low- and middle-income families have used credit cards to pay for basic living expenses this past year because they didn’t have enough money on hand to pay for those expenses. Basic living expenses include things like mortgage payment, utilities, groceries, and insurance. The statistic come...