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Consumer Questions

#AskanExpert: What Can I Do If My Credit Card Company is Suing Me?

Q:  I have credit card debt and 2 personal loans. I have gone through financial hardship and have not been able to pay. Today I got served by court papers where a credit card company is suing me to get their money. I have never gone through this before and I am overwhelmed. I don’t know what to do. I don’t have the money to pay up front. What can …Read More

Ask An Expert: What is a credit report and how do I read it?

Dear reader, we all know that credit reports are important. But not many people know what reports look like or how to read the information on them. Understanding a credit report is easier than it seems if you know what to expect when you review your report. Your credit reports are generated by the credit bureaus or consumer reporting agencies, each containing detailed data about your credit behavior. This data …Read More

Ask An Expert: What are the credit bureaus?

The credit bureaus are agencies that collect, keep, and maintain consumer’s financial information. They also share and distribute this information in the form of credit reports. There are several credit bureaus or consumer reporting agencies in the U.S., but the most well-known are Equifax, Experian, and TransUnion. These agencies collect and receive information from credit card companies, lenders, collection agencies, and other businesses who have pre-arranged business relations with them. …Read More

Understanding the Importance of a Credit Report

The Consumer Financial Protection Bureau (CFPB) releases a yearly summary of complaints related to the financial service industry, which includes credit reporting agencies. Based on a tally of all complaints submitted to the CFPB website in 2016, the greatest portion were about credit reporting issues. By the numbers, that comes to more than 43,000, or about 23% of the total 186,000 complaints. While the CFPB doesn’t collect data about how …Read More

How to Mitigate Black Friday Spending

It’s nearly that time of the year. The day after Thanksgiving, aka Black Friday. It’s a day a lot of people hate, but also an event numerous citizens of the United States fall in love with. Whether it’s heading to the store in the afternoon or going out at 6 a.m., shoppers love getting a good start on Christmas shopping and taking advantage of the best deals the economy has …Read More

3 Tips for Budgeting as a Couple

 By Lauren Lovett, Certified Credit Counselor and Grant Writer for Navicore Solutions  Finances play a vital role in relationships.  When it comes to managing a household together, it is important to work as a team. These three tips can help! I. Be honest and open about all sources of income, expenses, debts and assets. You have selected one another to be partners in life, and therefore, partners in managing finances. …Read More

5 Myths About Credit Counseling

 By Steve Nitz NFCC member agencies provide financial education to millions of consumers each year. These appointments can be either in person, over the phone or online. However, there’s a good amount of the country’s population that’s afraid to schedule a counseling appointment due to a number of misconceptions. Here are five myths about credit counseling, debunked: I. Credit counseling will hurt your credit score Possibly the biggest misconception when …Read More

CFPB Announcement that will Ease the Minds of Consumers

By Tara Carter We’re all familiar with the headache that can come along with the consistent nagging of debt collectors, however the Consumer Financial Protection Bureau (CFPB) has just proposed new regulations that will give us a break from persistent debt collectors. Here are highlights of the proposed changes: To protect consumers from being contacted for debts that may be incorrect, debt collectors now have to confirm that they have …Read More

Choosing a Financial Advisor – Part 2

 By Gary Silverman Investment advisor, financial planner, financial advisor, stockbroker, registered investment advisor, insurance agent, retirement planning specialist, personal financial specialist…what the heck do all these mean and what do they all do? Heck if I know. You see, some of the designations above require specific licenses, some infer a certain level of expertise, and some don’t have any requirements to them at all. Instead of going through a very …Read More

Choosing a Financial Advisor: Part One

By Gary Silverman People regularly ask me how to choose a financial advisor. After my stock answer of “choose me,” I begin by asking them why they want one. Financial advice means different things to different people. One such person told me that he had some stocks that he wanted to buy and wanted me to buy them for him. Well, that’s not giving financial advice. He did his own …Read More