bank account offset

Can A Bank Keep Social Security To Pay Debts That You Owe?

You owe money to the bank … the same bank that gets your Social Security checks.

Uh oh. Can the bank take the funds to pay itself back?

Gene’s on the roundtable, handling things from snowy Connecticut today. Hear what he’s got to say on the subject so you know how to protect your money.

And because Gene’s alone today, you know what’s missing? The dreaded beep!

Oh, and there’s a surprising guest at the end to make a special appearance.

Support the show at no cost to you. Click here (you’ll be taken to amazon.com in a new browser tab). Now whenever you shop at amazon.com, a few pennies from your purchase to will go to support the show. This won’t cost you any money, but will help us a lot. Thank you for your support of Money Go Roundtable!

Gene Snow Day

Capitalized Student Loan Interest Explained

As Gene digs out from the third snowstorm in three weeks to hit Connecticut, Jay steps in for a solo edition of Money Go Roundtable.

On today’s show, a discussion about capitalized student loan interest. What is it, and why does it matter to you when dealing with federal student loans?

Image credit: Jim Larrison/Flickr

lied on credit application

What If You Lied On Your Credit Application?

When you apply for credit, you provide a lender with information on your income and assets. Using that information, the lender makes a decision as to whether to give you credit.

But when the bottom falls out financially and you look to getting out of debt, you may wonder whether that information will come back to haunt you.

What if you lied? Is it a problem when you file for bankruptcy?

Listen to today’s show and find out.

Use Credit Card Buy Car

Buying A Car – Use A Credit Card or an Auto Loan?

That’s one sweet ride. And you’re looking for a new car, so you’re ready to go for it.

But as you sit down with the dealer to talk money, you wonder whether it’s a better idea to pull out a credit card rather than apply for a car loan.

Choose the wrong way to finance the purchase and you could be in for a load of trouble down the line.

Here’s our best thinking on the issue.

Cancel Unused Credit Card

What is The Effect Of Canceling An Unused Credit Card On Your Credit Score?

You want a great credit score, and you don’t want to do anything to mess it up.

How about that credit card you’ve got sitting in your sock drawer, the one you haven’t used in the past few years?

Close the account, or keep it open? One way protects your credit score, the other may trash it.

Choose wisely.

When Bill Collectors Call At Work

Can A Debt Collector Call Your Employer?

 

Your boss calls you in and tells you that a debt collector has been calling about you.

You’re embarrassed … but is it illegal?

Links of interest:

transcript held for unpaid student loans

Schools Withholding Transcripts For Not Paying A Student Loan

 

If you don’t pay your student loan, can your school refuse to give up your transcript? Not unless the student loan has a connection with your school.

In fact, your school doesn’t issue your loans except in rare situations.

If your transcript is being withheld, how can filing for bankruptcy help you?

Withholding The Transcript May Be A Violation of the Automatic Stay

 

Take House After Bankruptcy Surrender

When The Bank Won’t Take The House After Bankruptcy

Why Hasn’t My Home Been Foreclosed After I Surrendered It In My Bankruptcy?

Is it a zombie foreclosure, or something else? Learn about the difference between what you say you’re going to do in bankruptcy and what really happens.

 

consolidation loan to pay debt

Getting A Debt Consolidation Loan To Pay Off Old Debt

When you’re in debt, you’ll do anything possible to get a better credit score.

That’s why so many people want to take out a debt consolidation loan to pay off the old past due debts.

But are you doing yourself a disservice by trading in one bill for another?

 

MGR 065 Featured

The Impact Of A Closed Account On Your Credit Score

Your credit card account is closed. Good thing, bad thing, or not so much of a thing?

Gene and Jay dissect the impact of closed accounts on your credit score. You may be surprised to learn just what they uncover – and it will change the way you think about closing accounts in the future.