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As the time approaches for federal student loan repayments to resume this fall, borrowers are faced with a transformed landscape that introduces a new repayment plan, servicer transitions, and frustratingly long call wait times. Adding to the complexity of this situation are scammers eagerly looking to exploit the confusion. Clayton LiaBraaten, a senior executive advisor at Truecaller, an app designed to block spam calls, notes, “Whenever there’s confusion in the marketplace, that’s when the criminal fraudsters get active.” Borrowers must remain vigilant and take steps to safeguard themselves, even as regulators intensify their efforts to combat scammers. In August, the…

When it comes to borrowing money, there are various options available, but two of the most common choices are payday loans and installment loans. These financial tools serve different purposes and come with distinct features, so it’s essential to understand their differences before making a decision. In this article, we’ll explore the disparities between payday loans and installment loans, helping you make an informed choice based on your financial needs. Payday Loans: Swift but Expensive Payday loans are small, short-term loans designed to be repaid within two to four weeks after borrowing. One of the key characteristics of payday loans…

Federal student loan repayment is set to resume in the coming months, with interest starting to accrue in September and payments scheduled to begin in October. After a 3½-year payment pause due to the pandemic, it’s crucial for borrowers to get ready. According to a recent NerdWallet survey, a staggering 88% of federal student loan borrowers did not make payments during the forbearance period. If you’re one of these borrowers, this article provides essential steps to help you prepare for the upcoming repayment phase. 1. Get Familiar with Your Loan Details The survey revealed that nearly half of federal student…

The current housing market presents a challenging scenario with a significant shortage of available homes for prospective buyers. This scarcity of housing options, coupled with soaring mortgage rates, is making it increasingly difficult for individuals to find their dream homes. However, what if there were a way to incentivize people to sell their homes and increase housing inventory? In this article, we explore various approaches, including potential changes to the tax code, to address this pressing issue. The Root of the Problem One of the key reasons behind the limited housing inventory is the reluctance of existing homeowners to sell…

Understanding Used Car Insurance: A Comprehensive Guide When it comes to auto insurance, it’s easy to assume that it’s primarily for brand-new vehicles. However, used cars also require insurance coverage. Contrary to what some may think, used car insurance is not a separate policy category; it’s essentially the same as insurance for new cars. Nonetheless, insuring a used car can differ in cost and the types of coverage that best suit your needs. In this article, we’ll delve into the world of used car insurance, answering common questions and providing valuable insights. How Much Does Used Car Insurance Cost? One…

The cost of homeowners insurance is on the rise nationwide, driven by a confluence of factors, including inflation and the increasing frequency of costly natural disasters. States like Florida, Louisiana, and Colorado have seen some of the most significant rate increases, primarily due to the extensive damage caused by hurricanes and wildfires. With climate change making these disasters more frequent, high insurance rates could become a new reality for homeowners across the country. In this article, we’ll explore six strategies to help you afford your homeowners insurance and secure your property effectively. 1. Be Proactive: Communicate with Your Insurer If…