If you have credit card debt, you’re not alone in the struggle to pay it down. In the third quarter of 2024, active credit card accounts only making the minimum payment reached a 12-year high. That’s not surprising given high inflation and the average credit card interest rate hovering at 20.10% as of February. If […]
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Between high interest rates and inflation, paying down debt or your regular monthly expenses can be hard. Credit card and student loan debt can add a new dynamic to your monthly budget. However, as garnishing wages for those who default on federal student loans is scheduled to resume this summer, it’s crucial to establish a
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Carrying debt can feel like a constant burden that’s hard to shake—especially with high interest rates. While different debt relief options are available, each comes with its own set of considerations. What is Debt Relief? Debt relief refers to strategies or programs that help you reduce or restructure the amount of debt you owe. This
Looking for Options on Debt Relief? Here’s What to Consider Before Choosing an Option Read More »
When you’re in a financial emergency, getting the money you need immediately can seem like the No. 1 priority. But it’s exactly this vulnerability that predatory lenders are looking to leverage. Knowing what to look for and understanding that you have other options is critical to your financial well-being. If you’re considering how to handle
How to Avoid Debt Traps: Predatory Lenders, High-Interest Loans, Payday Loans Read More »
In times of struggle and financial hardship, you are looking for options to help keep you afloat. Perhaps you’re falling behind, or you are trying to juggle other debts you owe. Maybe your employer cut back on overtime opportunities, which provided you with much of the extra income you needed to cover certain expenses. Regardless
PayDay Lenders and Potential Alternatives Read More »
Consumer Credit Counseling Service of Rochester has organized a free virtual training on Thursday, October 13th, 2022, to help organizations (employers, community agencies, financial institutions, local government, etc.) incorporate and/or offer Financial Wellness programs within their organization. The training will cover specific strategies along with testimonials from representatives of organizations who have leveraged these strategies
Uplifting Financial Wellness Read More »
While you may have put the kibosh on spending now that the largest shopping season of the year has come to an end, the gift-buying damage is already done. If getting into a better financial situation is one of your New Year’s resolutions, you’re one of the 66% of Americans planning to make a financial resolution for
New Year’s Resolution to Better Your Financial Situation Read More »
Pursuing higher education and attaining a degree is something no one can ever take away from you. But it might be hard to look on the bright side when you’re saddled with thousands of dollars in student debt. In efforts to alleviate the burden, President Joe Biden launched a new student loan plan that would
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If you’re like one of the many American households struggling with debt, you might want to consider credit counseling. Credit counseling organizations are typically nonprofit groups that offer counseling with certified counselors who can help you budget your finances better, as well as provide education on managing your finances. To get a good idea of
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Leaning on credit cards can be helpful when there’s an emergency or you don’t want to worry about your bank balance at the grocery store, but the usefulness wears off once they’re maxed out. And then you’re left with no emergency credit—and additional debt. While there are tools and methods you can implement into your
Could You Benefit From Credit Counseling? Read More »