July 2010

Report Shows Gender Disparity on Financial Outlook

Nearly everyone has an opinion about where the economy and their personal finances are heading, but a new study shows that men and women have very different outlooks.

Teens Applying For Student Loans Should Improve Their Credit Score

Fall is an exciting time for college-bound students, but many relying on student loans to finance their education should make sure their credit score is high - otherwise they may not secure a loan.

Lead By Example When Teaching Money Habits To Kids

After living through one of the worst recessions to hit the U.S. since the Great Depression, many parents may want to make sure their children develop solid financial habits.

New Study Shows Americans Have Positive Outlook on Debt

Large amounts of personal debt can have a damaging effect on an individual's outlook and health. A new study reveals how much debt Americans are carrying and how it's affecting them.

Massachusetts to mull legislation on credit checks

In the past few years, more employers have begun the practice of running credit checks on those that apply for jobs with them. This has many unemployed consumers with spotty credit histories as a result of the recession locked in a cycle of being una

Mortgage Broker Names Credit Score As Determining Factor In Underwriting

Despite increased proof-of-income requirements, lending institutions still rely heavily on credit scores to determine whether to grant mortgage loans, the New York Times reports.

Credit card reforms have hurt some consumers more than they've helped

When Congress passed the Credit Card Accountability, Responsibility and Disclosure Act last year, many consumers envisioned that it would allow them to climb out from under their debt.

Consumers With Low Credit Scores Still Secure Auto Loans

Recent reports have determined that borrowers with lower credit scores are able to achieve more financing now than they have in prior years, according to the Associated Press.

Lenders Seek Alternative Forms Of Information Over Credit Scores

As a consequent result of high unemployment rates and credit card debt, many consumers have seen their credit scores plummet, making it nearly impossible to secure loans.

Divorcing Couples With Mortgage Problems Have Financial Options

The recession has been a difficult time for a large majority of Americans - especially those facing unemployment, credit card and mortgage debt. But for couples going through divorce proceedings, the economic downturn poses a new set of financial bur

New Bill Would Protect Credit Score of Loan Modification Applicants

Homeowners that find themselves unable to meet their mortgage requirements often turn to loan modifications as a measure to avoid default or foreclosure. However, this process often impacts their credit score negatively, making it more difficult to s

Personal Finance 'Boot Camp' offered to military families

Recent studies reveal that while the recession has been instrumental in prompting individuals to take control of their finances and control their spending habits, many lack the education to manage their money properly. A large number of families do n

Michigan Supreme Court Rules Insurers Can Use Credit Score To Determine Rates

Credit scores have long been used to determine whether a consumer can secure a loan, rent an apartment, and even gain employment. But the three-digit number is also a factor in the rate an individual will receive for auto insurance. Many individuals

Bankruptcy claims increase among middle-class Americans

According to a recent report, the Great Recession is spilling over to the middle-class as more Americans file for bankruptcy. The study - published by the Institute for Financial Literacy - reveals that bankruptcy claims increased in 2009 among indiv