Friday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Big changes are coming to your credit report. Also in the news: Excuses for not saving for retirement, how your social life changes when you’re saving money, and what to do as you approach retirement.

Big Changes to Credit Reports Are on the Way: What It Means for You
A new way of handling disputes.

5 Poor Excuses People Have for Not Saving for Retirement
No excuses!

Why Saving Money Means Changing, Not Eliminating, How You Socialize
No reason to become anti-social.

5 Things to Do Now if You’re Near Retirement
Start getting ready!

Tuesday’s need-to-know money news

o-CREDIT-REPORT-facebookToday’s top story: Changes to the credit report dispute process are on the way. Also in the news: What to do with your tax refund, things you should consider as you approach retirement, and the biggest tax law changes you need to know about.

Your Biggest Credit Report Complaint May Be Getting Fixed
Changes in the dispute process are on the way.

What to Do With Your Tax Refund
Suggestions other than an Apple Watch.

7 Items for Your To-Do List in the Year You Retire
Things to consider as you approach the finish line.

The Biggest Tax Law Changes You Need to Know About This Year
April 15th is just around the corner.

Thursday’s need-to-know money news

taxesToday’s top story: Should you do your own taxes or hire a professional? Also in the news: How to be a frugal foodie, why you should check all three of your credit reports, and what to expect if you get audited.

Tax Preparer Vs. Software: How To Choose
Deciding whether to get help or go it alone.

8 Ways to Be a More Frugal Foodie
Eating well doesn’t have to cost a fortune.

Checking All 3 Credit Reports Pays Off
Don’t assume they’re all the same.

What to Expect if Your Tax Return Gets Audited
First, don’t panic.

3 Terrifying Things Cybercriminals Can Hack
It goes way beyond your computer.

Friday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Credit report red flags that only your lender can see. Also in the news: What to do when you receive a windfall, how financial literacy can help fight domestic violence, and important tax info for freelancers.

4 Credit Report Red Flags You Don’t See – But Your Lender Does
Secret warning signs only your lender can see.

3 Things to Do When a Bunch of Money Falls in Your Lap
Think twice before buying the sports car.

How Financial Literacy Can Fight Domestic Violence
Knowledge is power.

25 Financial Terms Everyone Should Know
There may be a quiz!

Important Tax Basics for Freelancers
Sorting through the confusion.

Friday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to get organized for tax season. Also in the news: Credit report myths, the coverage perks hiding in your insurance policy, and how your credit card can be stolen without you noticing.

Getting Organized for Tax Preparation
Get your folders ready.

Nine credit report myths you need to know
Time for some credit report mythbusting.

7 Perks Hiding in Your Insurance Policy
Surprising protections that could come in handy.

5 Ways Your Credit Card Can Be Stolen Right Under Your Nose
You won’t even notice until it’s too late.

How to reduce retirement anxiety
Don’t wait until retirement to secure your post-retirement paycheck.

Wednesday’s need-to-know money news

847_interestrates1Today’s top story: The everyday things that are hurting your credit. Also in the news: Whipping your 401(k) into shape, how to cope with low interest rates, and the ten best places to retire on Social Security alone.

5 Everyday Things That Hurt Your Credit
Your furry best friend could be trouble.

How to Whip Your 401(k) Into Shape
Unlocking your 401(k)’s full potential.

4 Strategies for Coping with Low Interest Rates
Counteract low interest rates by avoiding risky investments.

10 Best Places to Retire on Social Security Alone
The locations may surprise you.

8 secrets to building a budget you can live with
Budgeting doesn’t have to be painful.

Monday’s need-to-know money news

22856641_SAToday’s top story: Tax breaks that can help pay for your kid’s college. Also in the news: How to prevent bad financial decisions in old age, when it’s time to call in a financial adviser, and the surprising answer as to whether or not you should pay off your mortgage early.

Tax breaks that can help when paying for college
See what your family may qualify for.

Preventing bad decisions in old age
Preparing for the time when you’re unable to make wise decisions.

Should You Pay Off a Mortgage Early? The Answer May Surprise You!
One of the rare occasions where paying early doesn’t pay off.

When Should You Use a Financial Advisor?
At what point should you enlist help with your finances?

3 Reasons to Check Your Credit Report Today
One in nine Americans have never checked their credit report.

Friday’s need-to-know money news

retirement-savings3Today’s top story: The easy solution to our retirement savings crisis. Also in the news: How to supercharge your retirement savings, how long credit flaws will stay on your report, and why it’s time to start saving for the holidays.

Our Retirement Savings Crisis—and the Easy Solution
A slight bump in savings rates could be a game changer.

6 Tools to Supercharge Retirement Savings
Where to find the aforementioned bump.

How Long Different Credit Flaws Stay on Your Report
Find out how long that late payment will linger.

You Need to Start Saving for Your Holiday Budget Now
The holidays are right around the corner.

Three Money Disruptors Making Your Financial Nightmares Less Scary
Tech disruptors are making our financial lives a bit easier.

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Building credit with a small income. Also in the news: The best time to buy virtually anything, how to make sure you can afford your next vacation, and demystifying credit card inquiries.

How to build credit if you have a small income
Strategic spending can build your credit.

The Best Months to Buy Everything
Waiting for the right month can save you money.

5 Ways to Make Sure You Can Afford Your Next Vacation
Budgeting for paradise.

The Most Misunderstood Part of Your Credit Report
Understanding inquiries.

Q&A: Student loans and credit reports

Dear Liz: My daughter graduated from college seven years ago and moved to London. She has not paid her student loans. Do they drop off her credit reports like other unpaid debt? What about the government’s ability to collect? Does that expire as well?

Answer: The government can pursue people who owe federal student loan debt to their graves. There is no statute of limitations for collections activity, as there is on most other debt. Furthermore, the government has powers any private collection agency would envy. The feds can seize tax refunds, garnish wages without a court order and even take a portion of a debtor’s Social Security checks.

Your daughter shouldn’t expect the unpaid debt to vanish from her credit reports either. The federal Fair Credit Reporting Act limits the length of time other negative marks can remain, but that doesn’t apply to federal student loans.

The Fair Credit Reporting Act “is silent as it pertains to government-guaranteed student loans,” said credit expert John Ulzheimer, president of consumer education at CreditSesame.com. “The Higher Education Act allows them to remain on credit reports as long as they’re unpaid.”

There are so many affordable repayment options these days for federal student loans that it makes little sense to default. In cases of extreme hardship or low income, payments can be reduced to zero and the loans would still be considered current.

Your daughter needs to make arrangements to pay what she owes, especially if she ever plans to come home. The good news is that the Department of Education will work with her to get her loans out of default status, and clear up her credit, with an affordable payment program. She can start by visiting the department’s site at studentaid.ed.gov.