A reader whose credit scores have already been badly damaged by late payments and charge-offs had a question: How much more would her scores drop if she filed for bankruptcy? For years the creators of the leading FICO credit scoring formula were a bit vague about the answer, saying only that a bankruptcy filing is […]
Recent Blog Posts
Tuesday’s need-to-know money news
Today’s top story: What to do when your 401(k) and IRA are maxed out. Also in the news: Comparing medical loans and credit cards, three essentials that could be missing from your retirement plan, and thirteen factors to consider when picking a place to retire. What to Do After Your 401(k) and IRA Are Maxed […]
Monday’s need-to-know money news
Today’s top story: Maintaining good credit without carrying debt. Also in the news: Taking out the right amount of mortgage, how to keep your home cool for less, and what happens when your student loan co-signer dies. How to Maintain Good Credit Without Debt Can you build credit without going into debt? How Much Mortgage […]
Q&A: How to correct social security errors
Dear Liz: I am 64. I recently reviewed my Social Security summary online and saw that it does not have an accurate listing of my income, so the projections of my benefits aren’t accurate either. How do I correct these errors? Answer: There are a number of ways the Social Security database could be wrong. […]
Q&A: When to file bankruptcy
Dear Liz: I’m a 33-year-old mother who lost my full-time job during the recession in 2009. I may have my “stuff” together again, but am considering filing bankruptcy. Each month I’m spending almost half (yes half!) of my income on debt payments to credit cards, loans and medical bills. Each month after all my bills […]
Thursday’s need to know money news
Today’s top story: How to celebrate the 4th of July while on a budget. Also in the news: Having a shred party, important financial moves for every decade, and declaring bankruptcy when you owe back taxes. 9 Cheap Ways to Celebrate July 4th Celebrating on a budget. Shred, White & Blue: Is There Really Freedom […]