debt
Winning the lottery may seem like the ultimate escape, but sudden wealth can create new problems just as quickly. Experts warn winners to avoid scams, protect their privacy, and make smart financial decisions. One winner received $16.2 million but ended up $500,000 in debt within three months. The lesson is simple: money can change your […]
As prices rise, more Americans are using Buy Now, Pay Later (BNPL) loans to manage expenses. A study by J.D. Power found that 37% of U.S. consumers used BNPL in the last 90 days, up 5%. These loans let shoppers split purchases into smaller payments, often with no interest. Experts say BNPL can be a useful alternative […]
The U.S. State Department will begin revoking the passports of Americans who owe “significant child support debt.” The department issued a notice on May 7 stating that federal regulations do not allow people who owe more than $2,500 in unpaid child support to be issued a passport and that it may revoke your valid passport. “Notices about […]
This holiday season, U.S. shoppers are expected to spend $18–20 billion using BNPL. On average, each BNPL user puts down $450–$500 in installments for gifts, electronics, and more. Who uses it most? Younger adults and tech-savvy shoppers lean heavily on BNPL for electronics, clothing, and gifts. While it can make holiday shopping more affordable in the short term, carrying […]
Parents cited concerns over new tariffs as major sources of financial strain ahead of the new academic year, marking a double-digit increase in households going into debt compared to 2024. Back-to-school shopping is traditionally a significant annual expense, but this year’s costs have become more burdensome for U.S. parents. The rise comes amid heightened inflation […]
Spirit Airlines filed for bankruptcy protection Monday, as mounting losses, unaffordable debt, increased competition for bargain-seeking airline passengers and the inability to merge with other airlines left it little choice. The airline said it will continue to operate as it restructures its debt. “Spirit expects to continue operating its business in the normal course throughout […]
We are talking credit card interest rates that are super high! A new survey suggests half of credit cardholders surveyed in June as part of Bankrate’s latest Credit Card Debt Survey said they carry balances over month to month. That is up from 44% in January – and the highest since since March 2020, when […]
A Texas woman was arrested after being busted in a multi million dollar scheme by repairing people’s credit. Reports say the scheme was done from November 2020 through March 2022 the woman used fake police reports clearing up close to a million dollars of debt. The fake police reports were sent to multiple financial institutions. […]
More than 100 million people in the U.S. have been saddled with health care debt. That includes about 40% of all adults, according to an investigation from Kaiser Health News & NPR. A Kaiser Family Foundation poll found that one-fourth of American adults with health care debt owe more than $5,000. One in five of those […]
Did you spend all your emergency savings during the pandemic? A new study reveals that Black respondents are 43% more likely than overall respondents to have spent their emergency savings since the COVID-19 pandemic began. The study by Real Estate Witch was based on an online survey done in late January of 1,000 people questioned […]
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