All articles tagged: “Debt”

(112 total)

Blog

368 views

3 min read

Veterans Say Debt Aggravates PTSD; the Lending Industry Has an Opportunity to Act

Veterans Report Debt Aggravates PTSD

More than 90% of veterans in a survey reported that debt makes their symptoms of PTSD worse, and 37% say they face ongoing stress over paying... read more »

By: Eric Bank • 5/15/25

Blog

846 views

3 min read

Discover Survey: Americans Are Struggling Financially, Looking to Improve

Survey: Americans Are Struggling Financially, Looking to Improve

Americans are feeling pinched. Discover’s latest Personal Loans Survey found what it describes as persistent broad-based financial stress and low... read more »

By: Eric Bank • 5/14/25

Study

1,104 views

3 min read

The Silent Burden: 1 in 3 Americans Still Haunted by Financial Mistakes

Study: 1 in 3 Americans Still Haunted by Financial Mistakes

Money mistakes are a financial burden that most people would rather not discuss. That’s because these missteps don’t just drain bank accounts —... read more »

By: Lynn Cadet • 5/14/25

Blog

11,142 views

3 min read

Washington State Bans Medical Debt from Credit Reports, Putting Pressure on Lenders and Bureaus

Washington State Bans Medical Debt from Credit Reports

Washington state has become the latest advocate in the national debate regarding medical debt and credit scores. Senate Bill 5480, which was... read more »

By: Eric Bank • 4/23/25

Blog

10,336 views

3 min read

TransUnion Becomes the Latest Bureau to Include Affirm’s Pay Over Time Products on its Reports

TransUnion Becomes the Latest Bureau to Include Affirm Payments

Those who use Buy Now, Pay Later (BNPL) products have historically been in a credit blind spot. These short-term loans usually fly below the... read more »

By: Eric Bank • 4/22/25

Blog

12,155 views

3 min read

Credit Card Fed Report Shows Americans Increasingly Slipping Into Minimum Payments

Fed Report: Americans Slipping Into Minimum Credit Card Payments

The credit card market is sounding warning bells. The Federal Reserve Bank of Philadelphia’s latest Q4 2024 report shows an increasing proportion... read more »

By: Eric Bank • 4/14/25

Blog

11,298 views

3 min read

Debt Is Preventing Retirement For Older Americans — And It’s Worse Than You Think

Survey: Debt Is Preventing Retirement For Older Americans

Debt doesn’t vanish with age. For millions of older Americans, it’s the primary reason why they continue working — or why they’ve lost hope of... read more »

By: Eric Bank • 4/9/25

Study

10,450 views

5 min read

Why 90% of Americans Feel Financially Lost—And a Simple Fix That Could Help

Survey: 90% of Americans Report Gaps in Their Financial Education

Rising food prices and high interest rates are the tell-tale signs of soaring inflation, and Americans are certainly feeling the pressure.  As... read more »

By: Lynn Cadet • 4/3/25

Blog

13,930 views

3 min read

Concerns About Missing Minimum Debt Payments Grow to Their Highest Level in Nearly Five Years

Americans Fear Missing Upcoming Debt Payments

The first few months of 2025 have ushered in economic instability in the U.S. as concerns over trade policies have led the S&P 500 to undergo its... read more »

By: Andrew Allen • 3/19/25

Guide

12,348 views

7 min read

What Is the Debt Snowball Method? How the Debt Payoff Strategy Can Keep You Motivated

What is the Debt Snowball Method?

If you are buried under a mountain of debt and don’t know how to get out, the debt snowball method might be a good place to start. The method can... read more »

By: Eric Bank • 3/17/25

Study

34,095 views

7 min read

Study Reveals Shifting Patterns in Single-Parent Households, with Notable County-Level Changes

Study Reveals Shifting Patterns in Single-Parent Households

Single parenting is tough. Dealing with busy schedules, big emotions, and daily routines on your own, along with no one to assist with making... read more »

By: Jon McDonald • 2/5/25

Study

36,312 views

3 min read

72% of US Consumers Aspire to Pay off Debt to Improve Their Finances in 2025

Survey: 72% of US Consumers Aspire to Pay off Debt in 2025

As a new year approaches, so do new goals. Some of the most common resolutions revolve around fitness and making healthier choices for your body.... read more »

By: Jon McDonald • 12/16/24

Guide

48,120 views

11 min read

What is Debt Forgiveness? How the Process Can Provide Relief, but Sometimes at a Cost 

How Debt Forgiveness Works and Affects Your Credit

Forgiveness is a mighty big concept, isn’t it? You see it figure into everything from Sunday sermons to those 12-step programs to help folks... read more »

By: Eric Bank • 12/12/24

Guide

52,877 views

11 min read

What is a Minimum Payment? A Guide to Required Payments and Why You Should Try to Pay More

A Guide to Minimum Payments and How They Impact Your Debt

I won’t tell you that making the minimum payment amount required on all your loans is a ticket to Easy Street because it’s not. A minimum payment... read more »

By: Mike Senecal • 12/5/24

Guide

74,340 views

9 min read

What is Financial Hardship? Common Causes and How to Mitigate Credit Damage

How to Deal With Debt During Financial Hardship

You can fix your financial problems, and there are plenty of resources to help. That’s the message I want to get across as we tackle the most... read more »

By: Mike Senecal • 12/3/24

Guide

40,989 views

7 min read

What is a Judgment? When the Courts Get Involved to Make You Pay Your Debt

Judgment Basics: When Courts Can Make You Pay Your Debt

If you ever wind up in front of a judge in a courtroom, it probably won’t be a pleasant experience — especially when you are the one being... read more »

By: Andrew Allen • 10/24/24

Guide

68,714 views

9 min read

What is Principal? Explanation & Tips For Effectively Paying Down Your Balances

How Loan Principal Works & How to Pay It Down

Understanding finance terms can sometimes feel like trying to learn an entirely new language. When I first started educating myself on how credit... read more »

By: Jon McDonald • 10/16/24

Guide

78,081 views

11 min read

What is Debt-to-Income Ratio? How DTI Impacts Credit and Loan Approval

What is Debt-to-Income Ratio? How DTI Impacts Credit

When I was looking into buying a condo, I got to experience plenty of personal finance jargon and acronyms first-hand. LTV, HOI, and PITI were... read more »

By: Bob Haegele • 9/30/24

Guide

100,000+ views

11 min read

What Does It Mean When an Account Goes to Collections?

What Does it Mean When an Account Goes to Collections?

Every once in a while, life can throw us all curveballs. You may run over a stray nail and get a flat tire, or a medical emergency may come up.... read more »

By: Jon McDonald • 8/22/24

Guide

59,763 views

9 min read

What is a Lien? How Institutions Secure Debt, Property & Taxes

Liens: How Institutions Secure Debt, Property & Taxes

A lien is a legal claim or right against a property that secures a loan. If you are a lender, liens are an efficient way to ensure debt... read more »

By: Eric Bank • 7/30/24

Guide

100,000+ views

13 min read

What is Debt Settlement? Benefits, Drawbacks, and Credit Score Impacts

Debt Settlement: A Comprehensive Guide

Debt settlement is a process through which you negotiate with creditors to pay less than you owe by offering a lump sum payment that’s lower than... read more »

By: Eric Bank • 7/3/24

Guide

100,000+ views

13 min read

What is a Default? How Lenders Respond to Nonpayment & the Impact on Your Credit

How Lenders and Credit Scores Treat Defaults

A default occurs when you don’t make payments on your credit card or loan for an extended period, usually several months. It will damage your... read more »

By: Eric Bank • 7/2/24

Guide

72,885 views

17 min read

What is Debt Consolidation? Types, Credit Impact & How it Works

How Debt Consolidation Works & Affects Credit

Debt consolidation is when you combine multiple debts — including loans and/or credit cards — into a single payment. By consolidating them, you... read more »

By: Eric Bank • 7/1/24

Guide

69,832 views

19 min read

What is Garnishment? When Creditors Can Take Money From Your Paycheck or Bank Account

What is Garnishment? When Creditors Can Take Your Money

Garnishment happens when a court allows a creditor (i.e., the person or company you owe money to) to take part of your paycheck or money from... read more »

By: Eric Bank • 6/27/24

Blog

83,664 views

5 min read

Debt.com Survey: Americans Are Maxing Out Credit Cards to Cope With Inflation and Make Ends Meet

Debt.com Survey Shows Inflation's Effect on Card Debt

Federal Reserve data shows credit card debt rising to a staggering new high of $1.13 trillion as of Q4 2023. The 2024 Credit Card... read more »

By: Mike Senecal • 5/22/24