Student loan interest on Federal student loans will resume starting on September, 1, 2023 and payments will be due starting in October. The Department of Education will notify borrowers before the payments restart and will be in direct communication with borrowers and student loan servicers. If you are on an IDR plan, your payment should  … Read More

Bankruptcy is a legal process through which people or companies who cannot repay their debts to creditors may seek relief. It is important to review the underlying problems and to minimize the risk that financial distress will recur. The goal of bankruptcy is to provide a fresh start to people who can no longer afford  … Read More

When you close your account, you are still obligated to pay at least the minimum amount until the full balance is paid off. The care issuer can still charge interest on the amount you owe. Generally, you should be able to close your account by calling the credit card company and following up with a  … Read More

The credit card company has the right to change the terms of your credit card agreement. For significant changes, the card issuer generally must give you notice 45 days in advance. Significant changes generally include increases in interest rates and fees, increases to the minimum amount due, or changes to the grace period or the  … Read More

There are a few warning signs that could signal a debt collection scam. Legitimate debt collectors should not claim that they’ll have you arrested. They should provide you with a mailing address of phone number. They should not ask you for personal financial information. If the caller refuses or is unable to provide you with  … Read More

If you are sued by a debt collector, you should respond to the lawsuit by the date specified in the court papers. When you respond to the lawsuit, the debt collector will have to prove to the court that the debt is valid and that you owe the debt. If you don’t respond, the court  … Read More

A debt collector generally is a person or a company that regularly collects debts owed to others, usually when those debts are past due. These include collection agencies or lawyers who collect debts as part of their business. There are also companies that buy past-due debts from creditors and try to collect them.

Equifax gave out millions of wrong credit scores. From mid-March of 2022 through early April, people applying for mortgages, auto loans and credit cards at major and smaller banks got scores that were off by as much as 20 points in either direction. Often it was enough points to affect interest rates for the loans they  … Read More

Don’t be pressured at the checkout line to sign up for a store-branded credit card without knowing exactly what you are getting into. Take your time-do not sign up for a card on the spot. Read the fine print and understand the rates, fees and deadlines with the cards. While retail credit cards typically don’t  … Read More

REAL ID will go into effect on May 3, 2023. It will be required at the time to board domestic commercial flights, enter a military base or enter a federal facility that requires ID at the door. Valid US Passports are considered REAL ID. For more information about obtaining REAL ID in Pennsylvania, visit dmv.pa.gov/REALID