CFPB: How to Decide How Much to Spend on Your Down Payment
One of the toughest parts of buying a home for the first time is coming up with a down payment. You may have heard that in order to buy, you should have 20 percent of the total cost of the home saved up for the down payment. Actually, you can choose how much to put…
CFPB: Debt Relief Attorneys Sued for Collecting Illegal Fees from Struggling Consumers
WASHINGTON, D.C. – The Consumer Financial Protection Bureau today took action against a ring of law firms and attorneys who collaborated to charge illegal fees to consumers seeking debt relief. In a complaint filed in federal court, the CFPB alleges that Howard Law, P.C., the Williamson Law Firm, LLC, and Williamson & Howard, LLP, as well as…
CFPB: Tips for Student Loan Borrowers
We frequently hear from borrowers and cosigners, including veterans and servicemembers, who are working hard to stay on track and pay off their student loans but are struggling to get the information and the help they need from their student loan servicer. With this in mind, we put together these tips to help consumers tackle…
CFPB: Easy-to-Remember Guidelines Help People Reduce Credit Card Debt
Take a short guideline like “don’t swipe the small stuff” and make it your own. You might just find that you’re better able to control your own credit card debt. Have you ever looked at your credit card bill and wondered where all those charges came from? Or found yourself swiping your credit card for…
CFPB: Understand the Overdraft “Opt-In” Choice
If you have a checking account, you might have to deal with an overdraft fee. An overdraft occurs when you don’t have enough money in your account to cover a transaction, and the bank or credit union pays for it anyway. Transactions include ATM withdrawals and debit card purchases as well as checks and ACH…
CFPB: What To Do If You’re Wrongfully Billed for Medicare Costs
If you’re among the 7 million Americans enrolled in the Qualified Medicare Beneficiary (QMB) Program , doctors, suppliers, and other providers aren’t allowed to bill you for Medicare costs when you receive covered medical services, equipment, and supplies. Your Medicare premiums, as well as costs like deductibles, coinsurance, and copayments, are all covered by Medicaid. The Centers…
CFPB: Survey Finds Over One-in-Four Consumers Contacted by Debt Collectors Feel Threatened
CFPB Also Releases Study of Consumer Risks in Online Debt Sales, Consumer Stories of Debt Collection Experiences WASHINGTON, D.C. – A Consumer Financial Protection Bureau (CFPB) report released today found that over one-in-four consumers contacted by debt collectors felt threatened. The report was drawn from the first-ever national survey of consumer experiences with debt collectors. Over…
CFPB: Buy a Home? The First Step is to Check your Credit
Buying a home is exciting. It’s also one of the most important financial decisions you’ll make. Choosing a mortgage to pay for your new home is just as important as choosing the right home. You have the right to control the process. Check out our other blogs on homebuying topics, and join the conversation on Facebook…
CFPB: Four Tips to Help Older Student Loan Borrowers Navigate Common Problems with their Student Loans
Today, we released a report that shows that older Americans now carry an unprecedented amount of student loan debt into retirement. The report shows that over the last decade, the number of older student loan borrowers has quadrupled in the United States. The amount that these borrowers owe has also dramatically increased. Between 2005 and 2015, consumers…
CFPB: Student Loan Servicing Problems Can Jeopardize Long-Term Financial Security for Older Borrowers
Growing Concerns as Number of Older Student Loan Borrowers Quadruples, Amount of Debt Per Senior Borrower Doubles in Last Decade WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a report that examines complaints from older student loan borrowers about servicing practices that can jeopardize their long-term financial security. In the last decade, the…