debt

11 Things We Didn’t Know Last Week

Posted on 07/30/2014 by |News, Culture, Sights and Sounds | Comments

11 Things | Bulletin TodayNews, discoveries and … fun 1. Insects are a food source for one of every three people worldwide. (Learn more at Yahoo) 2. The debts and unpaid bills of more than a third of Americans have been reported to collection agencies. (Learn more at Urban Institute) 3. Handshakes share 20 times more germs than fist bumps. (Learn more at AARP) >> Sign up for the AARP Health Newsletter  4. A new smartphone app simulates a retro camera by making you …

Payday Lender Ordered to Pay $10 Million Over Collection Practices

Posted on 07/14/2014 by |AARP Blog Author | Comments

Bulletin Today | Money & SavingsAce Cash Express, one of the nation’s largest payday lenders, has agreed to pay a $10 million settlement over its collection practices. The Consumer Financial Protection Bureau said that Ace, based in Irving, Tex., must refund $5 million to customers who fell victim to such practices from March 2011 to September 2012; it must also pay a $5 million civil penalty. Payday loans are taken out by people who need quick cash between paychecks. Companies such as Ace Cash Express have been known …

Who Weathered the Recession the Best?

Posted on 07/3/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsMany Americans are still reeling from the last recession, although the oldest among us weathered the economic decline better than other age groups. That’s according to a recent report by the Census Bureau that looked at how Americans ages 65 and up fared during and after the 2007-2009 recession. These older consumers were somewhat buffered by more conservative investment strategies as well as high homeownership and a resistance to squeezing all equity out of their property by refinancing. It wasn’t …

Getting a Student Loan? Your Interest Rate Just Went Up

Posted on 07/1/2014 by |AARP Blog Author | Comments

Bulletin Today | Money & SavingsStarting today, parents and college students will be paying more for federal education loans. Interest rates on new federal loans are adjusted every July, and this year’s rates are slightly higher than those for loans issued in the previous 12 months. The rate on Stafford loans for undergraduates is now 4.66 percent, up from 3.89 percent. Parents and graduate students now will pay a rate of 7.21 percent for PLUS loans, compared with 6.41 percent previously. These rates are fixed …

Why Your College Grad Moved Back Home

Posted on 06/23/2014 by |Parenting 2.0 | Comments

Home & FamilyAt a party last weekend, I met a new college grad who had just moved back home. His plans: a camp counselor job this summer followed by a teaching assistant job come fall. Over the next year or so he plans to save money and figure out his future; maybe an M.S. in social work or a Ph.D. in psychology. He was looking forward to reconnecting with his parents after four years away. “It’s the last time I’ll live at …

GE Capital Ordered To Pay $225 Million To Consumers

Posted on 06/19/2014 by |Money and Work | Comments

Bulletin Today | Money & SavingsGE Capital Retail Bank must shell out an estimated $225 million to consumers to settle government claims that it discriminated against Hispanic credit card customers and persuaded other card holders to buy add-on products that promised to cancel part of their debt if they became disabled, lost a job or suffered from another hardship, the Justice Department announced Thursday. “We will continue to take action against marketing tactics that trick consumers into buying credit card products they do not want or cannot use,” …