Get smart with your money
Today’s top story: The myRA program is dead. But there is an alternative. Also in the news: Borrowing money from friends and family when you’re in a jam, and four financial milestones to reach before you retire.
Obama-Era Retirement Plan Is Dead. Here’s an Alternative
The myRA program is dead.
Ask Brianna: Should I Borrow Money From Family and Friends?
What to do when you’re in a jam.
4 financial milestones to reach before you retire
Giving yourself a better shot at a good retirement.
Today’s top story: 5 essential money tips for Generation X. Also in the news: Sales tax holidays, the best ways to send money to your college student, and why Americans are more financially content.
5 Essential Money Tips for Generation X
The clock is ticking towards 50.
Sales Tax Holidays Save Shoppers Money on Back-to-School
Find out if your state has one.
Best Ways to Send Money to Your College Student
Don’t pay excessive fees.
Americans are more financially content than they’ve been in a decade
Today’s top story: Learning how to ditch debt. Also in the news: How to prepare for the change from corporate career to entrepreneur, how to teach your kids to be better with money than you are, and why Millennials are paying attention to their 401(k)s.
How I Ditched Debt: Making Sense of Cents
Every penny counts.
Corporate Career to Entrepreneur: How to Prep for the Leap
Making a big change.
How to teach your kids to be better with money than you are
Learning from your mistakes.
Millennials may be far from retirement, but think ahead with 401(k)
Planning for the future.
If anyone tells you a 401(k) loan is a cheap way to borrow, they are both right and very, very wrong.
401(k) loan interest rates are low. But the way many Americans repay them spells disaster.
In my latest for the Associated Press, how a reckless 401(k) loan could turn out to be the most expensive money you’ll ever borrow.
Today’s top story: What would you give up to be debt free? Also in the news: What to know about alternative investments, what to buy (and skip) in August, and how money can actually buy happiness.
What Would You Give Up to Be Debt-Free?
Making sacrifices.
Alternative Investments: What to Know Before You Buy
Investments beyond stocks.
What to Buy (and Skip) in August
Preparing for back-to-school.
Yes, you can buy happiness … if you spend it to save time
Spending it the right way.
Dear Liz: I went back to school in 2002 to get my teaching credential. I took out several student loans and set up a repayment plan upon graduating with automatic deduction out of my checking account. Several years ago, the IRS started garnishing my bank account stating that there was a lien but I never received any other type of indication what was going on.
After contacting the IRS, we found that someone took out a fraudulent student loan using my former married name. I also got my credit reports, which showed the loan. I was able to get the signed loan documents from the U.S. Department of Education but now the department does not respond to my certified letters or phone calls.
I’m at a loss at what to do at this point. I filed a police report and notified the credit reporting agencies. I’m out almost $10,000. Is there any other advice you could give me?
Answer: First, follow up with the credit bureaus to make sure the fraudulent loan has been removed from your credit reports. Consider setting up credit freezes at all three bureaus to reduce the chances of being victimized again. The Identity Theft Resource Center at www.idtheftcenter.org has more information to help you protect yourself.
Getting the actual loan dismissed and your money back is a more difficult task. You may be able to have the loan erased under what’s known as a false certification discharge, but qualifying for that isn’t easy, said Jay Fleischman, a Los Angeles attorney who specializes in student loan problems.
It’s not enough to have a police report. You’d need to identify and file a lawsuit against the thief. If you can get a court judgment against that person, you would provide the Education Department with that as well as proof of your identity and possibly signature samples from the approximate date of the loan.
Even if you did everything necessary to prove eligibility for discharge, the department could still deny it if you received any benefits from the loan — if it paid any costs of your education instead of someone else’s, Fleishman said.
At this point, you may need to hire an attorney familiar with identity theft issues. You can get referrals from the National Assn. of Consumer Advocates at www.naca.net.