Weekly or monthly payments?
by Scott Bilker
Scott, I have a $6,500 signature loan @ 13.5% APR with my credit union. A friend of mine said I should divide my payment over four weeks. Do I save more to pay a lump sum at the beginning of each month; or does it benefit me to pay equal weekly installments?--Brian
Payoff and close?
by Scott Bilker
Scott, I heard you this morning on the radio and didn't get a chance to call in. I had a quick question. Once I pay off my credit cards, does it help my credit to leave that account open, or should I close this account? Thanks. --Nathan
Credit and Marriage
by Scott Bilker
Scott, I was 36 when I married. I have excellent credit. However, the man I married went through a messy divorce and his credit is moderate at best. If I apply for credit, such as a new car, am I obligated to list my husband's debts or can I still obtain credit in my own name? --Vicky
Bogus July 1 Email Exposed: The Real Deal on Your Credit File Privacy
by Federal Trade Commission
Just wanted to let everyone know who hasn't already heard, the four major credit bureaus in the U.S. will be allowed, starting July 1, to release your credit info, mailing addresses, phone numbers...to anyone who requests it. If you would like to opt out" of this release of info., you can..."
10 Credit Myths
by Scott Bilker
As they say, "Knowledge is power." Many times people either act on false information or fail to act because they didn't know what could be done to their benefit. This is the case in many areas in life, but on the top of that list is money. And in the money category you will find lots of misinformation about credit. There is so much to talk about on the topic of credit myth that an entire book could be dedicated to it.
Tricky Insurance Pays Off
by Scott Bilker
I found out after renewing a credit card that I had been paying for insurance that I wasn't aware of. This insurance would pay benefits in case I died or became disabled. I had the card since 1997 and became disabled in 1998 (Parkinson's). I called a credit card rep and she advised me to put in a claim. She also stated if there were any other balances to transfer I could transfer them and clear them up also.
Survey Results: Health Insurance
by Scott Bilker
Since the cost of health care and health insurance continues to increase every year, many companies have dropped health coverage and many families have found themselves without full coverage or any coverage at all. If you are in this group you're not alone, as 41-million Americans have no health coverage whatsoever. At DebtSmart we continue to look for ways for our readers to cut costs. To that end, we have been researching alternatives to expensive health insurance. By filling out the following survey you will help us get a better grasp on what your needs are, allowing us to look for the ideal solution for you and your family.
Amortized Loans
by Scott Bilker
I would like to know what the formula is for an amortized loan. How exactly do they calculate each payment? I suspect that all the interest for the loan term (i.e., 30 years, 15 years, etc.) is loaded up front in some way, but I would like to know exactly HOW? I want to teach my teenagers about this. I think it's very important for everyone to know.
Unsolicited Mail, Telemarketing and Email: Where to Go To "Just Say No"
by Federal Trade Commission
Tired of having your mailbox crammed with unsolicited mail, including pre-approved credit card applications? Fed up with getting telemarketing calls just as you're sitting down to dinner? Fuming that your email inbox is chock-full of unsolicited advertising? The good news is that you can...
Protecting Yourself Against Identity Fraud
by The FBI
Identity Fraud is one of the fastest growing White Collar Crimes in the nation. The perpetrators consider this a "faceless" crime, since their targets are financial institutions or retail stores. Little if any thought is ever given to the harm their actions bring to the individuals whose identities they have stolen. Identity Fraud is the criminal...
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