Author: News Room

A growing number of Americans, still reeling from the financial strain of the COVID-19 pandemic, are no longer benefiting from government relief efforts and are increasingly choosing bankruptcy to deal with unmanageable debt, according to a recent American Bankruptcy Institute (ABI) report. An end to federal pandemic aid coupled with continued economic challenges has increased bankruptcy filings, ABI reported. Total individual bankruptcy filings in February rose to 30,193, up 18% from a year ago and up 2% from January, the report said.  Pandemic-era stimulus checks, unemployment benefits and reduced spending because of nationwide lockdown measures helped Americans collectively save roughly $2.3 trillion…

Consumers using buy now, pay later (BNPL) are likelier to use other credit products and high-interest financial services than non-users of BNPL, a recent report by the Consumer Financial Protection Bureau (CFPB) said. For example, 62% of BNPL borrowers said they used retail credit cards compared to 44% of non-BNPL consumers. Additionally, 32% of BNPL users relied on personal loans compared to 13% of non-BNPL consumers. Thirty-three percent of BNPL borrowers said they had student loans compared to 17% of non-BNPL consumers. BNPL users were more likely to suffer financial distress than non-borrowers and were more likely to use high-interest financial products like…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Student loan debt has become a staple for many households in the U.S., and borrowers owe an average loan balance of $39,487. If you’re feeling overwhelmed by your loans, we’ll cover some of the grants available to help pay off student loan debt and get your finances back on track. What…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases have risen for two key terms, remained unchanged for one term, and fallen for another term since yesterday. Rates last updated on March 30, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a…

A penthouse in Manhattan’s Chelsea neighborhood comes with a large private terrace that takes in unobstructed western views of the city skyline and sunsets, providing a calm resting place in the bustle of the city. It also has access to a shared outdoor kitchen for easy al fresco dining. The three-bedroom, 3.5-bathroom residence is on the 12th floor of a full-service, luxury condominium built in 2008. A set of glass-enclosed stairs from the main living area lead to the 823-square-foot private terrace. The landscaped space is surrounded by built-in lighting. The penthouse’s private terrace has direct access to the building’s…

The tremors from the loss of confidence in the banking system following the sudden collapse and seizure of Silicon Valley Bank (SIVB VB ) by the FDIC on March 10 continue to be felt through the financial markets. While analysis shows U.S. banks to be solvent overall, the concern about banks has spread globally. The challenge of analyzing bank safety is that a severe loss of confidence can actually cause an otherwise functioning financial institution to come under duress. Last week’s article began a look at the health of banks using high-frequency data. This week introduces a systematic methodology to…

Proposed regulations for the electric vehicle tax credit, long overdue, are finally out (REG-120080-22). That checks one of the many clean energy guidance projects off the list from the Inflation Reduction Act (IRA, P.L. 117-169), but there are still plenty more to go, including guidance on the direct pay provision in section 6417. Direct pay is one of two provisions added by the IRA that is meant to expand the options for financing clean energy projects beyond traditional tax equity deals. There are important questions that need to be answered in guidance before the direct pay option will be available…

The Federal Trade Commission often issues warnings for consumers about scams of all kinds. They are raising the alarm about phony treatments and cures for Alzheimer’s disease and dementia, sending letters to the companies that advertise these fake products. We can understand why people who desperately want a cure for a disease that is currently not curable will look to the internet for promises. Alzheimer’s disease and related dementias create a long, sad, expensive journey for elders and their families. We address these every day at AgingParents.com, working with these families. No one wants to hear from doctors that there…

I’m a top money coach who paid off $300,000 of debt in three years and invested enough for early retirement. A high-yield savings account is the one money move anyone should make in 2023 for easy passive income. What Is A High-Yield Savings Account? If you have a checking account, you might also have a savings account that came with it. The bank likely is paying you less than one percent in interest. A high-yield savings account is easy to open and it pays at least 10 times more than regular savings accounts, with all the same benefits. A high-yield…

It started with Saudi Arabia. President Biden was met with cool, if not cold, greetings during his visit to Riyadh last July. Then the Saudis picked China to mediate their rapprochement with Iran. Nobody from Washington or Brussels was in the room to get the two old enemies shaking hands. Next up is the United Arab Emirates. Around the world and within the Gulf, it is best known for Dubai and Etihad Airlines. The country, like the Saudis, used to take its cues from the U.S. in many ways. Today, however, Abu Dhabi will act on the Emirates’ collective interests,…