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JPMorgan Chase slows debt collection

Jan 13, 2012
The American Banker says that JPMorgan Chase appears to be backing off efforts to collect unpaid credit card debt from its customers. They're not forgiving the debt, but they've quietly stopped going after it.
Posted In: debt, debt collection, Credit Cards

Goodbye, bank

Jan 13, 2012
My mortgage is down to $27,000, which I can pay off after topping off my cash reserve (1 year of expenses). Is there any reason not to do this? My interest rate is 4 3/8 percent. I'm getting about 1 percent in my money market account. I have no other debt, and my 401(k) and IRA are maxed out. Ken, Portland, OR
Posted In: home, mortgage, debt

Cordray's plans for the CFPB

Jan 13, 2012
Richard Cordray, chief of the Consumer Financial Protection Bureau, discusses what powers he'll have and how he plans to use them.
Posted In: CFPB, Personal Finance, debt, mortgage, Richard Cordray

Soaring student loan debt has bankers nervous

Jan 12, 2012
As the cost of an education rises and students borrow to cover the costs, lenders worry about recouping funds.
Posted In: college tuition, universities, debt, student loan debt

The best single investment

Jan 11, 2012
Parents and their students need to work very hard at avoiding taking on too much debt to earn a college diploma.
Posted In: coellge, student loans, debt, Investing

Thinking about savings and debt

Jan 4, 2012
I've got a bunch of student loans, all at relatively low rates (3.5 percent and lower). I have just under $35,000 at this point. I've been auto-transferring money into my savings accounts -- for "emergency funds" as well as future goals such as a down payment, wedding, etc. I have around $48,000 total in savings (between those funds). That money is sitting in savings at less than 1 percent. Mathematically, it makes more sense to pay down the debt. But I'm not comfortable with decreasing my savings that much. How to I choose? Stephanie, Medford, MA
Posted In: Savings, debt, student loans

Eurozone may end up failed currency union

Jan 4, 2012
The 17 nations sharing the euro as a common currency struggle to keep the eurozone together. Historically, currency unions have a poor track record.
Posted In: euro, Eurozone, debt, monetary union

A New Year's resolution: Eliminate debt

Jan 3, 2012
My husband and I have made pretty bad and spontaneous financial decisions that have brought us a lot of debt. Our plan for 2012 is to get out of debt and start saving more, since we depleted our savings in the past 2 years. I would like to know how to start getting rid of this debt in the smartest way and how to save significantly at the same time. Carla, Boston, MA
Posted In: Savings, debt, Credit card

A law degree and student loans

Dec 28, 2011
I have both private and federal student loans from undergrad and law school... I was wondering if you have any advice as to how best to manage this debt? I'm 28 and single so my financial obligations are otherwise relatively minimal for now, but due to my debt-to-income ratio, I've been unable to really lay away much in the way of personal savings in the 3+ years I've been out of school, let alone start saving for retirement. I'd really appreciate any advice you might be able to give to someone in my situation. Thank you! Kira, New York, NY
Posted In: Retirement, Law, career, student loans, debt

Consumer credit hits two-year high

Dec 7, 2011
The amount of money consumers owe in credit -- excluding mortgages -- grew by $7.7 billion in October, hitting a two-year high.
Posted In: consumer, debt, credit card debt

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