Many senior citizens struggle to keep up with expenses and may end up depleting their savings rapidly in an effort to keep up. Increased costs such as medical expenses, supporting adult children, and even victimization by predatory lenders can lead to significant financial distress for seniors on a fixed income. Rather than seeking help, many seniors will suffer through financial issues, sometimes selling off personal property or mortgaging their homes or even reducing their costs by not … [Read more...]
Archives for July 2017
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Student Loan Default Points to Larger Issue for Many
These days more and more people are falling behind on student loan payments. If you fail to pay your loans for 360 days, you may be in default which can wreak havoc on your credit worthiness now and in the future. Not only will your credit score take a hit, if you have past due federal student loans, Uncle Sam can be relentless. The government can garnish your pay, seize your tax returns and even dog you as you age by taking some of your Social Security. Oftentimes, an inability to pay … [Read more...]
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