Financial News

Are Long Term Auto Loans the Best Commitment?

Posted on April 20, 2018April 20, 2018 | by Meghan Alard

A new report finds long term auto loans are getting longer and longer, leading to more time in debt and higher costs due to added interest charges. Do borrowers really benefit from that commitment?..Read full article

What States Can Revoke Professional Licenses for Defaulted Student Loans?

Posted on April 16, 2018April 16, 2018 | by Meghan Alard

A Texas teacher lost his dream job as a teacher after he defaulted, and Texas isn’t the only state that does this. We detail what states can revoke professional licenses for defaulted student loans...Read full article

Military Families Face a Financial Confidence Gap

Posted on April 13, 2018April 13, 2018 | by April Lewis-Parks

First Command finds that there is a financial confidence gap between Service Members and their spouses, who typically manage the household finances. What can be done to improve financial confidence?..Read full article

Why Women Hold More Student Debt

Posted on April 9, 2018April 9, 2018 | by April Lewis-Parks

A new study finds women hold more student debt than men. In fact, women hold two thirds of all student loans currently in repayment. CNBC explores five reasons why student loan debt is a bigger burden for women than it is for men...Read full article

Can You Afford the Cost of Debt?

Posted on April 6, 2018 | by Meghan Alard

Another interest rate hike by the Federal Reserve means that the cost of debt for consumers just got higher again. WalletHub has revised their map of cities with the most and least sustainable credit card balances. Can you still afford to pay off your debt in a cost-effective way or do you need debt relief?..Read full article

How Credit Smart Are You?

Posted on April 2, 2018April 6, 2018 | by April Lewis-Parks

It’s National Financial Literacy Month, which makes it the perfect time to find a range of free financial education resources. But what resources do you need? Consolidated Credit has a simple 7-question Credit Smart test so you can test your knowledge and determine what you don’t know...Read full article

Don’t Loan Credit Cards!

Posted on March 30, 2018 | by Meghan Alard

If you thought lending money to family was a bad idea, consider that 36 million Americans admit they’ve run into trouble when they decided to loan credit cards to friends and family. Learn why it’s a bad idea and what you can do instead to help someone out...Read full article

Dealing with Medical Debt Collections and Accident Liens

Posted on March 26, 2018March 23, 2018 | by Meghan Alard

If you took a trip to the emergency room after an accident, you might be surprised to learn you have a lien that gives the hospital a right to part of any claim you receive. It’s one way hospitals ensure they collect on your medical bills. We explain how to get out of medical debt collections...Read full article

Is Mobile Banking Better?

Posted on March 23, 2018March 23, 2018 | by Meghan Alard

Millennials are the first to jump on new technology that makes their lives easier, but a new survey finds they also may be the first to dump tech that doesn’t perform like they expect. This survey shows the problems with our current mobile banking experience...Read full article

Will Congress Act to Deliver Student Loan Relief?

Posted on March 20, 2018March 20, 2018 | by Meghan Alard

As tuition costs continue to rise and students graduate with over $35,000 in student loan debt, on average, Congress is currently debating several options that could provide student loan relief to borrowers. But will the measures pass and is it enough to bring down college costs?..Read full article

12% of Americans Had a Credit Card Declined Last Year

Posted on March 16, 2018March 12, 2018 | by April Lewis-Parks

One in ten Americans had a credit card declined last year, but embarrassment is really the least of your worries if it happens to you. Learn why cardholders experienced a declined credit card last year and what you can do to avoid it...Read full article

5 Good Reasons to Call Your Credit Card Company

Posted on March 12, 2018March 12, 2018 | by Meghan Alard

A credit card company wants your business, so they’re usually willing to give you certain money-saving perks for sticking with them. Learn how you can turn customer loyalty into more credit card rewards, cut annual fees and lower interest rates...Read full article

More Americans Right Size Emergency Savings

Posted on March 9, 2018March 12, 2018 | by April Lewis-Parks

Learning how to right size emergency savings is a crucial skill that can help you achieve financial stability and avoid problems with credit card debt. We offer tips to help you ensure you have more savings than debt...Read full article

Are Student Loan Debt Problems Holding You Back?

Posted on March 5, 2018 | by Meghan Alard

The new Federal Reserve Chairman Jerome Powell admits that student loan debt problems hold Americans back and could slow down economic growth. Learn how outstanding student loans can hurt your credit and what solutions you can use to fix your financial situation...Read full article

Past Due Debt Payments at an All-Time High

Posted on March 2, 2018March 9, 2018 | by Meghan Alard

A new report finds that American consumers are breaking records with past due debt payments, while businesses are managing to keep up. If the economy is strong, then why are some many families facing collection accounts and credit damage?..Read full article

More Relief for Permanent Disability Student Loan Forgiveness

Posted on February 26, 2018February 19, 2018 | by Meghan Alard

There’s good news for student loan borrowers with a permanent disability. New permanent disability student loan forgiveness rules will waive federal income taxes on student loans that qualify for discharge if you are totally and permanently disabled...Read full article

Which Cities are Home to the Highest Credit Card Debt?

Posted on February 23, 2018February 19, 2018 | by April Lewis-Parks

A new study finds residents in the South may be struggling the most to pay off their credit cards. Each week, Consolidated Credit searches for financial research that can help… Read full article

Big Changes Coming to Credit Cards Offering 0 Interest on Balance Transfers

Posted on February 19, 2018March 9, 2018 | by April Lewis-Parks

As consumer debt levels continue to break records, driven by credit card debt, many households may turn to balance transfer credit cards to consolidate. However, new changes in credit cards offering 0 interest on balance transfers could make this type of consolidation less beneficial...Read full article

What Causes America’s High Credit Card Balances?

Posted on February 16, 2018February 16, 2018 | by April Lewis-Parks

Americans have record high credit card balances that are often caused by covering daily expenses to make ends meet. We look at reasons for debt and offer helpful tips on how to achieve a balanced budget so you can avoid credit card debt...Read full article

Credit Card Skimmers Hidden in Plain Sight at Aldi Supermarkets

Posted on February 12, 2018February 12, 2018 | by Meghan Alard

Discount grocer Aldi is the latest company to be targeted by identity thieves. Credit card skimmers were camouflaged on top of payment terminals, storing card numbers and PINs for Aldi customers. We offer tips on how to protect your identity in a technology-driven world...Read full article

15 Million Americans Hide Credit Cards

Posted on February 9, 2018 | by Meghan Alard

A new study finds 15 million people hide credit cards and bank accounts from their partners. We look at current trends in financial infidelity and offer tips on how to have an honest money talk with your significant other, just in time for Valentine’s Day!..Read full article

Check Your Paychecks This Month

Posted on February 5, 2018February 28, 2018 | by Meghan Alard

The Republican tax bill won’t affect your filing this year, but you may see tax benefits as soon as February 2018. According to the U.S. Treasury, about 90% of people will see more take-home income this month as the reform reduces how much is taken out of your paycheck. Here’s what you need to know…..Read full article

Good Debt vs Bad Debt

Posted on February 2, 2018January 29, 2018 | by Meghan Alard

A new study finds that 2 out of 3 consumers believe they will never be debt free, but that’s not necessarily a bad thing when you consider the difference between good debt vs bad debt. We explain the difference so you can get the right financing for your needs...Read full article

Say Goodbye to Credit Card Signature Requirements

Posted on January 29, 2018January 29, 2018 | by April Lewis-Parks

The last major credit issuer just announced they will phase out signature credit card signature requirements on most transactions this year. As EMV chip technology improves, you should see less request for your John Hancock, and hopefully less fraud...Read full article