Here’s what happens if you default on your student loans

default on loans

Defaulting on your loans has some serious consequences. Select explains what happens if you default, plus how to avoid it.     For many student loan borrowers, the amount they pay toward their debt each month is not insignificant. In fact, the average monthly student loan payment is currently $393, which can be an overwhelming expense if you’re…

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5 ways to pay down your car loan and save money

How to pay down car loan

The average price for a new car is currently $36,744, according to the National Automobile Dealers Association. Most Americans can’t afford to pay this out of pocket, which makes taking out a car loan a necessity. Car loans are one of the most common types of consumer loans, and they differ quite a bit from other…

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How long do negative items stay on your credit report?

bankrupt

Many Americans are struggling to put their personal finances in order amid the pandemic as they are dealing with debt and other credit issues. If you’re one of them, you’re not alone and there are credit repair steps you can take. Often, the first step is determining where your credit score currently stands by checking credit…

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Wednesday Q&A How can I restore my credit after a tough divorce?

How can I restore my credit after a tough divorce? Gregory gives a caller tips on how to restore his credit after a rough divorce. Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY We’re Here to Help Have questions about this week’s content,…

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How to Build Credit Fast and Earn a Good Credit Score

construction

Jared Oriel for Money You might think the only thing worse than having bad credit is having no credit history at all. After all, it can be hard to get a car loan or a credit card if lenders have no way to evaluate if you’re likely to make on-time payments. Having a credit report…

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Dear Students: Here Are Ten Ways To Get Your Financial House In Order

lounging on couch

Recently, a student asked me for some tips on what to say about personal finance to her sorority. Here’s a slightly-edited version of my reply. Count the Cost Accurately. You might think you’re saving money when you’re not. Unless you really enjoy cooking, you should probably have a meal plan and devote the time and energy you…

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How to Freeze Your Credit

Popsicle

A lost wallet or data breach raises your risk of identity theft exponentially. If you’ve been the victim of one of these unfortunate scenarios, it’s a good idea to safeguard your personal information by freezing your credit. Credit freezes block unauthorized credit checks, which makes it difficult for criminals to open new accounts in your name and protects you…

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Wednesday Q&A Is my credit score a big deal in retirement?

Is my credit score a big deal in retirement? Is it a big deal to have good credit in retirement? Gregory explains the importance of your credit score. Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY We’re Here to Help Have questions about…

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7 Easy Ways to Improve Your Credit Score This Month

credit score

A good credit score is a key piece of your financial puzzle. It not only allows you to qualify for lower interest rates on loans and credit cards but can also affect your ability to rent an apartment or even qualify for a job. This is especially important today as the country is still dealing…

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