Credit Invisible

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If you are credit invisible, you don’t have a credit history.  If your credit file is too thin and you hardly have any credit, you are considered credit “unscorable.”  There are millions of people who are credit invisible and credit unscorable.  This can hurt you because you may not be able to get a car loan or get an apartment.


Student Loan Forgiveness for Teachers

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Teachers may be eligible for some federal loan forgiveness.  Check out the Teacher Loan Forgiveness Program:

https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/teacher#who-teacher

 

 


Don’t Have Enough Money for a Down Payment on a House?

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If your credit score is at least a 680 but you don’t have a large down payment to buy a house, check out the Fannie Mae Home Ready program.  If you qualify, you may be able to buy a house with as little as 3% down on the house you want to buy.

See https://www.fanniemae.com/content/fact_sheet/homeready-overview.pdf

 


Safe Deposit Boxes

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Some things you should keep in the safe deposit box at your bank are:

  • originals of important documents, such as birth certificates, property deeds, car titles
  • family keepsakes
  • photos you can’t replace

Cash is not a good thing to keep in the safe deposit box because it is not protected by FDIC insurance.

Source: https://www.fdic.gov/consumers/consumer/news/cnwin18/fivethings.html


Car Leases

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Leases for cars have become more popular recently.  The monthly payments are lower than buying a car.  But, you will not own the car when the lease is over.  There are also rules about how many miles you can drive and what happens if you damage the car.  If you end up buying the car at the end of the lease, you might pay more in total than not having leased it first.


When You Don’t Get Your Tax Refund

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You may have been expecting your tax refund and then you find out that your refund got taken.  This is called a tax intercept or a tax offset.  The main reasons your refund may get taken:

  • Student loans
  • Child support
  • Federal or state income taxes
  • Bankruptcy trustee

Indiana Child Support Worksheet

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You can try to do a calculation for child support on your own.  You will need information regarding income, child care costs, and health insurance costs.  Here is the link:

http://mycourts.in.gov/csc/parents/


More Than 40 Percent of US Adults Struggling

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In 2017, the Consumer Financial Protection Bureau released the results of a survey which showed that more than 40 percent of US adults are struggling to make ends meet.  Those who are struggling are running out of food, cannot afford a place to live, or don’t have money to get medical treatment.  People who are 65 and older are doing better financially.  Younger adults, those 34 and younger, are not doing as well.


Have you Thought of This to Check Your Credit Score?

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Many credit card companies, as well as some banks and credit unions, will give you your credit score each month.  They can list your credit score each month on your monthly statement.  Or you can log on to your account each month to check your credit score.


CareCredit

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CareCredit is a credit card you can use for health-related expenses.  Do you have health care costs that are not covered by your health insurance?  You may be able to use CareCredit to pay for those expenses.  CareCredit is better than a regular credit card because you may be able to pay no interest or deferred interest.  Here is their website:

https://www.carecredit.com/


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