Credit Report – How To Occupy http://howtooccupy.org/ Sat, 01 Oct 2022 00:05:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://howtooccupy.org/wp-content/uploads/2021/07/icon.png Credit Report – How To Occupy http://howtooccupy.org/ 32 32 4 Steps to Take if You Receive an Email Claiming Your Information is on the Dark Web https://howtooccupy.org/4-steps-to-take-if-you-receive-an-email-claiming-your-information-is-on-the-dark-web/ Sat, 01 Oct 2022 00:05:44 +0000 https://howtooccupy.org/4-steps-to-take-if-you-receive-an-email-claiming-your-information-is-on-the-dark-web/ Cybercriminals have various methods to get their hands on your data. Phishing attacks happen when criminals send you an email or text message with a link or attachment to download. Once you click on it, you get to a malicious website that steals your data. The Dark Web is a faster way to get personal […]]]>

Cybercriminals have various methods to get their hands on your data. Phishing attacks happen when criminals send you an email or text message with a link or attachment to download. Once you click on it, you get to a malicious website that steals your data.

The Dark Web is a faster way to get personal information. Hackers who hack into massive databases sell personal information on the Dark Web, where criminals can buy sensitive information. Tap or click here for three tips to see if your passwords are on the Dark Web.

Some services alert you when your data has been exposed. But read on to see why you can’t always trust email on the Dark Web.

Here is the backstory

Apple and Google have a built-in feature that notifies you if your username, email address, or passwords are discovered on the Dark Web. There is also the excellent I was taken website, which covers over 11 billion stolen records and tells you what breach it is. Tap or click here for the steps to use this tool.

It’s always best to check for yourself if your data is compromised, but some people have told the Federal Trade Commission (FTC) that they’ve received emails warning them that their data is on the Dark Web.

That may be true, but the FTC warns that you should treat these emails with skepticism. It could be phishing attacks. The the agency explained that some emails list stolen information, including the victim’s social security number, date of birth, and driver’s license number.

Hackers can use partial information about you to get more details. For example, the email could mention your date of birth. Then, to verify that it is your data, you must click on a link and provide more details. Hackers then capture this information, which could lead to fraud or identity theft.

How to Deal with Dark Web Phishing Emails

Although there is a chance that your data is already on the Dark Web, you should not believe unsolicited emails and provide more information. To help protect against these types of phishing attempts and avoid becoming a victim of identity theft, the FTC has made the following suggestions.

Do not click on a link or use a phone number in the message. It may be a phishing email designed to trick you into disclosing sensitive information to scammers. If you think the message is legitimate — for example, if you have a credit monitoring service or a credit card with a company that monitors the Dark Web — contact the company using a website or phone number that you know it’s real.

Change your passwords to secure your accounts. Start by changing the passwords for your email accounts. Email accounts are often the weakest link in online security, as password resets for other accounts are sent to your email. If your email account password has become known, an identity thief can log into your account and intercept your password reset emails.

Check your credit reports. After securing your accounts, make sure no one has opened new accounts using your information. Visit AnnualCreditReport.com to get a free annual credit report from each of the three national credit bureaus, Equifax, Experian and TransUnion. Until December 2023, you can get a free weekly credit report from their websites. If you find an account or transaction that you don’t recognize, visit IdentityTheft.gov to report identity theft and obtain a personal recovery plan.

Consider freezing your credit. A credit freeze can be placed and removed for free and is the best way to protect against an identity thief opening new financial accounts in your name. You can also set a Fraud alert on your credit to make it harder for an identity thief to get new credit in your name.

If you receive an email claiming your information is being sold on the Dark Web, report it to ReportFraud.ftc.gov.

keep reading

Here’s how much your stolen credit card is worth on the Dark Web

The Government Doesn’t Want You To Know These Dark Web Secrets

]]>
Are you ready for a second home? https://howtooccupy.org/are-you-ready-for-a-second-home/ Thu, 29 Sep 2022 01:52:06 +0000 https://howtooccupy.org/are-you-ready-for-a-second-home/ Whether you are looking for a home in a resort community like Daytona Beach, or maybe you would like something quieter and not in a touristy location, buying a second home is a big commitment. You might be thinking about it, but is it a commitment you’re ready for? In 2018, the National Association of […]]]>

Whether you are looking for a home in a resort community like Daytona Beach, or maybe you would like something quieter and not in a touristy location, buying a second home is a big commitment. You might be thinking about it, but is it a commitment you’re ready for?

In 2018, the National Association of Home Builders reported that there were 7.5 million second homes nationwide. The majority were in Florida, as well as California, New York, Texas, Michigan and Arizona.

Here are some things to consider when evaluating whether or not you’re ready for a second home.

1. The financial impact

Before buying a second home, it is important to have a complete overview of the full financial impact. You bear the full weight of the financial impact on your shoulders, and it’s going to happen twice. If you have a problem with your primary residence that is expensive to fix, and then there is a problem with your secondary residence, you are going to have to deal with consecutive bills.

Even outside of situations where things go wrong, you will have your second mortgage payment, which will include your landlord’s insurance and property taxes, maintenance, utilities, HOA fees, travel costs to get to the house, and rental management fees if you’re going to rent it out.

You must make a detailed budget and include contingencies. For example, will you need flood insurance, and if so, how much will it cost?

Some questions to ask yourself before deciding on a second home will include whether you are currently able to save at least 15% of your current income for retirement. Is it something you can comfortably continue to do, even with the added expense of a second home?

Do you have at least six months of your expenses in a liquid, easily accessible emergency fund? Even better, it’s nine months.

Do you have credit card debt? Is your current accommodation reimbursed?

If you can tick those boxes, then you might be in a position where you can really think of a second home.

2. How second mortgages work

If you are still repaying the original mortgage on your principal residence and want to buy a secondary residence, you will need a second mortgage. It could be an actual second mortgage, or it could mean you get an equity loan in your current home or a line of credit in your current home. You can also refinance in cash from your current home.

Banks will look at the same factors as with any loan, such as whether you have enough income to cover the costs, your credit report, income, assets and work history.

3. Travel Considerations

Are you going to enjoy your second home sustainably? Will the travel time to get there quickly become a burden?

Do you want to be tied to one place long term?

You need to realize that if you buy a second home, it will impact your ability to travel to other places. If you know you like to travel to the same place year after year, that can be great. If you want a second home and still travel to other places, your budget may not allow it.

You must remember that a vacation home is still a home, so you need accessible amenities. For example, are there grocery stores and restaurants nearby? What about gyms or other things you use in your daily life?

4. Are you going to rent it?

If you can rent out your second home, you may be able to cover its costs and more.

It’s not always an easy task either. For example, the laws determining whether or not you can rent a home vary by state, city, and sometimes even neighborhood. In New York, for example, listing your home on Airbnb is illegal unless the resident lives in the apartment or is rented for more than 30 days.

If you’re considering a condo as a second home, you need to figure out what the regulations say about short-term rentals.

Some communities will have a restriction requiring a minimum of 90 days rental with prior approval from the tenant association.

If you are able to rent a house, you need to think about the costs that will come with it. For example, you will need appropriate insurance and you will need to budget for maintenance and cleaning services.

If you are considering renting a second home, the times when you most want to be there will more than likely be the most requested times by tenants. You will need to decide if income is more important or if your ability to enjoy your second home is your main priority.

5. Taxes

If you have a second home, it will be classified by the IRS as personal residence or rental property. If you rent it 14 days or less per year, it is a personal residence. If you rent it for more than 14 days, it is a rental property. You will have to declare your rental income, regardless of the classification.

If your vacation home is classed as rental property, you cannot claim a mortgage interest tax deduction, but if you spend more than the rental income, you can claim losses.

6. Is it a good investment?

If you’re considering buying a second home, you might want to consider whether or not it’s a good long-term investment.

Although real estate tends to be a good investment, that’s not always true. There are real estate fluctuations and even accidents, so can you handle a situation where your home could lose up to 30% in value?

If your equity was wiped out, should you foreclose?

The most important thing to do if you are considering a second home is to run the numbers. Next, you want to make sure you’ve considered all of the potential costs, but also your lifestyle and personal preferences before making that big decision.

]]>
Pamplin Media Group – How is a FICO credit score calculated? https://howtooccupy.org/pamplin-media-group-how-is-a-fico-credit-score-calculated/ Mon, 26 Sep 2022 19:49:50 +0000 https://howtooccupy.org/pamplin-media-group-how-is-a-fico-credit-score-calculated/ This article is brought to you courtesy of Robert Grove, Senior Mortgage Broker at News-Times Insider Mortgage Expert Minuteman Mortgage. When it comes to buying a home or any type of consumer product that requires financing, a credit report is compiled to verify the consumer’s creditworthiness. Mortgage lenders use the lowest average FICO score for […]]]>

This article is brought to you courtesy of Robert Grove, Senior Mortgage Broker at News-Times Insider Mortgage Expert Minuteman Mortgage.

When it comes to buying a home or any type of consumer product that requires financing, a credit report is compiled to verify the consumer’s creditworthiness. Mortgage lenders use the lowest average FICO score for the loan. Why is this score important? Lenders want assurance that their loan will be repaid. High FICO scores prove that the consumer has reliably repaid past debts and has a long history of doing so.

The typical credit score range is between 350 and 850, where 850 is a perfect score, excellent between 750 and 850, good 700-749, average 650-699, and bad 650 or less. Interest rates are based on credit ratings. The better the score, the lower the rate.

Scores are calculated by Experian, TransUnion and Equifax. Their scores are roughly similar but drawn from different sources. Here are the main variables used to calculate a FICO credit score.

Payment history 35%, use of debt to credit 30%, length of credit history 15%, credit mix 10% and new credit accounts 10%. A payment delay of 30 days can drop your score by 90 to 110 points. Having a balance above 30% of your line of credit can lower scores. Closing a credit card you‘ve had for years lowers scores since the history is erased. Scores work with a great combination of home and auto loans and credit cards. Opening several new credit accounts decreases the length of your credit history.

To see where you stand, get your free report at AnnualCreditReport.com.

Robert Groves, Senior Mortgage Broker

Minuteman Mortgage

5635 NE Elam Young Parkway, Suite 308

Hillsboro, OR 97124

602-460-2374

www.MinutemanMortgage.com

]]>
Buy now, pay later stretches consumer credit limits, according to Achieve Center for Consumer Insights study https://howtooccupy.org/buy-now-pay-later-stretches-consumer-credit-limits-according-to-achieve-center-for-consumer-insights-study/ Thu, 22 Sep 2022 10:00:00 +0000 https://howtooccupy.org/buy-now-pay-later-stretches-consumer-credit-limits-according-to-achieve-center-for-consumer-insights-study/ The share of consumers with recent BNPL accounts who need help dealing with unsustainable debt has increased by more than 50% since 2021, according to the first study by the Achieve Center for Consumer Insights SAN MATEO, Calif., September 22, 2022 /PRNewswire/ — Rapid growth in buy now, pay later (BNPL) financing has had a […]]]>

The share of consumers with recent BNPL accounts who need help dealing with unsustainable debt has increased by more than 50% since 2021, according to the first study by the Achieve Center for Consumer Insights

SAN MATEO, Calif., September 22, 2022 /PRNewswire/ — Rapid growth in buy now, pay later (BNPL) financing has had a cascading effect on consumer debt levels, new research finds Reachthe leader in digital personal finance.

The full study (available here) found that an increasing number of already indebted individuals are taking advantage of BNPL funding to stretch their available credit limits before ultimately needing help to cope with unsustainable levels of debt.

Go to Consumer Information Center

The study is the first in a series planned by the new Achieve Center for Consumer Insights, an ongoing initiative that leverages Achieve’s team of digital personal finance experts to provide insight into the state members of Achieve, with a particular focus on emerging data and trends. in personal loans, consumer debt and home equity loans.

In addition to sharing insights drawn from Achieve’s proprietary data and analysis, Achieve’s Consumer Insights Center intends to publish in-depth research, tailored data and thoughtful commentary to support of Achieve’s mission to help everyday people get on and stay on track. to a better financial future.

“Presenting the Achieve Center for Consumer Insights alongside the launch of the new Achieve brand and our expanded suite of digital personal finance offerings reflects our commitment to supporting every step of our members’ financial journey. We look forward to helping educate consumers about the state of their finances and keeping them informed of economic developments that affect household balance sheets,” said the co-founder and co-CEO of Achieve. Brad Stroh. “Furthermore, we hope that the data and research produced by the Achieve Center for Consumer Insights will encourage thoughtful dialogue among technology and financial services professionals, academic and advocacy groups, policymakers and other stakeholders. .”

The Effect of BNPL on Consumer Debt

From June 2022the percentage of Reaching Resolution members with BNPL accounts on their credit reports increased by 58% compared to January 2021. Although the segment of Achieve resolution members with BNPL business lines is still relatively small, it is also likely an underrepresentation of the entire BNPL industry reach, as very few BNPL transactions are currently reported to the three major credit bureaus.

Many BNPL users are likely to use this funding to extend their credit limits on existing credit cards and other accounts according to data from Achieve — even though BNPL is often touted as a product designed for consumers who want to avoid credit cards and other traditional forms of credit.

Reaching Resolution Members with BNPL loans on their credit reports have more open trade lines on their credit report than members without BNPL loans. They also have more total trade lines — which includes both current trade lines and old accounts that were closed less than 10 years ago — reported in their credit reports. Achieve members with BNPL accounts had slightly higher credit card usage rates than Achieve resolution members without. They also had lower average credit scores than members without BNPL accounts. However, BNPL users had slightly higher household incomes (see Figure 1).

“The continued expansion of BNPL’s reach comes with a period of historic inflation and rising interest rates that are straining household finances,” said co-founder and co-CEO of Achieve. André Housser. “Buy now, pay later may be attractive to consumers looking for an interest-free option to pay for purchases over time. But even with no finance charges, consumers may still be overburdened using these loans.”

Achieve Resolution members’ average BNPL account balance has declined since the start of 2021, reflecting the widespread availability of BNPL as a digital payment option at virtual and physical outlets. In June 2022nearly 50% of Achieve resolution members with at least one BNPL account were Gen Y and about a third were Gen X. Achieve’s findings echo a recently published publication Consumer Financial Protection Bureau Studywhich highlights growth in BNPL loan volume and consumer late fees.

Key Additional Findings from Reaching for Resolution

Evolution of financial difficulties : Medical expenses have become the number one reason consumers seek help from Achieve to settle their debts, reflecting an ongoing trend that began in early 2021 (see Figure 2). Declining incomes and job loss continue to be the source of much of the hardship for members, but have declined over the same period.

Generational changes: Millennials and Gen Zers seeking help with their debt issues through Achieve Resolution have since risen January 2021 , while the share of silent generation and baby boomers is declining (see Figure 3). Strong parallels exist between Gen X and Gen Y on many key credit metrics, even though the average age of Gen X on the Achieve resolution is 15 years older than that of Gen Y (see figure 4). Both generations have comparable credit scores, household incomes, and credit histories, however, Gen Xers have more credit report business lines on average. Additionally, the three youngest generations all have a higher average family income than Reach to Resolve members of the Silent and Baby Boomer generations.

Main results of Achieve Personal Loans

Dealing with Debt: Debt consolidation and credit card refinancing are top reasons Achieve members get personal loans , consistently accounting for more than half of all new loans issued since the start of 2021 (see Figure 5). However, the share of members using personal loans to pay for major purchases is on the rise, accounting for 19% of loans obtained in June 2022.

Personal loan profile: Achieve Personal Loan members had an average of 11 business lines open when they applied for a personal loan in June 2022. Loan amounts range from less than $10,000 to end $35,000with an average starting balance of just over $20,000. Key credit metrics for Achieve Personal Loans members remain largely unchanged from a year ago, with the exception of the average credit score, which declined slightly in June 2022 (see figure 6).

Make way for Millennials: Millennials account for a growing share of loan volume , and the share of baby boomers with an Achieve personal loan is declining, mirroring a similar trend in Achieve resolution. Loans for Gen Zers were almost non-existent in 2021, but now account for 2% of transactions in June 2022 (see Figure 7).

Key Home Equity Loan Results

Safely access the equity in your property: Members who have obtained a home equity loan from Achieve to consolidate their unsecured debt into June 2022 save on average $669 per month relative to their previous monthly debt obligations (see Figure 8).

Achieve’s Home Equity Line of Credit (HELOC) program is designed to help borrowers responsibly access home equity to pay down debt or increase their cash reserves, without compromising their long-term goals of home ownership. Members who have obtained a HELOC from Achieve to consolidate their unsecured debt in June 2022 saved on average $669 per month in payments relative to their previous monthly debt obligations (see Figure 8).

Monthly savings: Average starting balances for Achieve home equity loans are between $43,000 and $59,000 of January 2021 at June 2022 with an average initial balance of $55,579 (see Figure 9). Average monthly savings vary over time and by borrower, due to differences in debt amounts, interest rate fluctuations, and other individual and market factors. Since January 2021Members of the Reach Home Equity Loans program reduced their debt repayments by an average of $746 per month.

Credit score improvement: Members generally see their credit ratings increase, in addition to improving their monthly cash flow after consolidating their debts with an Achieve home equity loan (see Figure 10). Achieve Home Equity Loans are structured as fully drawn fixed rate HELOCs, allowing members to continue to access their home equity when needed during the drawdown period.

The full study, with graphs and data, can be viewed on the Achieve website Where download a PDF of the report here.

About Reach

Reach is the leader in digital personal finance. Our solutions help everyday people engage and stay on the path to a better financial future, through innovative technology and personalized coaching. Leveraging proprietary data and analytics, our solutions are tailored to every stage of a consumer’s financial journey and include personal loans, home loans, debt relief, and financial tools and education. . Achieve is headquartered in San Mateo, California and has more than 2,700 dedicated employees across the country with centers in California, Arizona and Texas. The company is regularly recognized as Best Place to Work.

The data reflected above is based on a representative sample of over 100,000 members who have used the resolution, personal loan and home equity loan offerings of January 2021 at June 2022. Data and results represent products and services offered by Achieve and its affiliates, including Bills.com, LLC d/b/a Achieve.com (NMLS ID #138464); Freedom Financial Asset Management, LLC (NMLS ID #227977); Freedom Resolution (NMLS ID 1248929); and Lendage, LLC d/b/a Achieve Loans (NMLS ID #1810501).

SOURCE Go

]]>
Capital One Auto Finance Loan Review | Find the best loan for you https://howtooccupy.org/capital-one-auto-finance-loan-review-find-the-best-loan-for-you/ Tue, 20 Sep 2022 18:02:34 +0000 https://howtooccupy.org/capital-one-auto-finance-loan-review-find-the-best-loan-for-you/ What types of car loans does Capital One offer? Capital One Auto Financement offers loans for new and used cars, trucks, minivans or SUVs for personal use, but the vehicle must be purchased from one of its participating dealerships. You’ll need to finance at least $4,000, and the vehicle must be no more than 10 […]]]>

Capital One Auto Financement offers loans for new and used cars, trucks, minivans or SUVs for personal use, but the vehicle must be purchased from one of its participating dealerships. You’ll need to finance at least $4,000, and the vehicle must be no more than 10 model years old and have less than 120,000 miles.

Capital One also offers auto loan refinance for vehicles that are 10 years old or newer with a repayment amount between $7,500 and $50,000. At least one applicant or co-applicant must be listed as the registered owner on the title of the vehicle, and you must be current on your existing loan payments and, if applicable, your mortgage.

To buy an automobile, start by submitting an online prequalification request. This will use a soft credit check and won’t affect your credit score, and you could receive a decision in minutes. If approved, you will receive a personalized offer that lists all the required documents you will need to provide to the dealership, such as those proving your personal identity, residency and income.

Then shop Capital One’s Auto Navigator and find a vehicle. It’s a good idea to call the dealership ahead of time to make sure the car you want is still available or to clarify any questions you may have.

Once at the dealership, identify yourself as a pre-qualified Auto Navigator customer and show your personalized offer and literature. You will need to complete a credit application depending on the vehicle you wish to purchase, which may result in one or more difficult inquiries showing up on your credit file. To complete the purchase, you will sign a Retail Agreement, which discloses your purchase and financing terms.

To refinance a vehicle through Capital One, you’ll also begin the prequalification process and typically receive a decision within 24 hours. If approved, you’ll select the offer you prefer, complete a credit application, and undergo a rigorous credit check.

To finalize your refinance, you will sign the contract online, provide contact information for your current lender, and send in all required documentation. You will also need to provide all title transfer documents, which vary by state.


Capital One does not charge an application fee for financing or refinancing applications, and does not charge any prepayment fees. Capital One will pay your state’s transfer fee on your behalf and add it to your final loan amount.

To finance a vehicle, you will need:

  • at least $4,000.
  • a new or used car, truck, van or SUV for personal use.
  • a 10 year or newer model year and with less than 120,000 miles.

You must meet several conditions to be eligible for the Capital One refinance program:

  • The new or used car, light truck, van or SUV must be 10 years old or less and intended for personal use.
  • Your current loan repayment amount must be between $7,500 and $50,000.
  • Your current loan must not be with Capital One Auto Finance.
  • Your current lender must report your loan to a major credit bureau, federal insurance, or both Better Business Bureau-accredited and state-registered lender or state-registered car dealership.
  • At least one applicant or co-applicant must be listed as the registered owner on the vehicle title.
  • You must be up to date with your existing loan payments and, if applicable, your mortgage.

The Capital One Auto Financing website does not list any information about possible rebates.

Capital One does not disclose a minimum credit rating or required debt ratio. The minimum purchase price must be at least $4,000, but Capital One does not list a maximum loan amount for an automobile purchase.

To refinance a vehicle, your current car loan repayment amount must be between $7,500 and $50,000. However, your maximum loan amount may be based on your income, key credit characteristics, and the vehicle you are refinancing.

Capital One has been accredited by the Better Business Bureau since 1995 and has an A- rating, and a poor Trustpilot rating of 1.3 out of 5 stars based on over 1,400 reviews. The Consumer Financial Protection Bureau received 422 complaints against Capital One in 2021 regarding auto loans. Most of the complaints were about obtaining the loan, managing the loan or problems at the end of the loan. Capital One gave a prompt response to all but three of these complaints, and 402 were closed with an explanation, 17 were closed with non-monetary relief, and three were closed with monetary relief.

For questions about buying a car, call 800-689-1789 from 9 a.m. to 9 p.m. EST Monday through Friday and 10 a.m. to 7 p.m. ET Saturday.

For help with refinancing, call 833-292-8332 from 9 a.m. to 9 p.m. ET Monday through Friday.

  • People who prefer prequalification before going to a dealership.
  • People who need to refinance an existing loan between $7,500 and $50,000.

]]>
How Student Loan Forgiveness Will Affect Your Credit Score https://howtooccupy.org/how-student-loan-forgiveness-will-affect-your-credit-score/ Fri, 16 Sep 2022 17:30:00 +0000 https://howtooccupy.org/how-student-loan-forgiveness-will-affect-your-credit-score/ Photo: OLIVIER DOULIERY / Contributor (Shutterstock) Last month, the White House announced a sweeping plan to forgive the student loan debt of millions of Americans, canceling up to $10,000 of debt for some borrowers and $20,000 for those who have received Pell Grants. If you have student loans, they affect your credit score no matter […]]]>

Image for article titled How Student Loan Forgiveness Will Affect Your Credit Score

Photo: OLIVIER DOULIERY / Contributor (Shutterstock)

Last month, the White House announced a sweeping plan to forgive the student loan debt of millions of Americans, canceling up to $10,000 of debt for some borrowers and $20,000 for those who have received Pell Grants. If you have student loans, they affect your credit score no matter what (they are ready, after all). And for the millions eligible for student loan forgiveness, this upcoming change in your loan status will cause your credit score to change, potentially for the worse, if only for a little while. Here’s what to know about the impact student loan forgiveness could have your credit score.

Your credit score could drop, at least in the short term

Student loans help your credit combinationwhich refers to the variety of loans you have (such as a car, mortgage, etc.). How you manage your credit mix impacts your overall score, and lenders like to see your ability to handle different types of loans at the same time. Student loan forgiveness takes away your credit, which could cause your credit score to drop slightly.

Another reason why canceling a student loan could lead to a minor drop in your credit score is that it could reduce the average age of your credit accounts, since student loans are often among the first loans you people contract.

Ultimately, none of this is alarming – your credit score would only see a drop of 5 to 10 points, according to CNBC. And like Money.com explains it, as long as you continue to make your other loan payments on time, your credit score can rebound quite quickly. It may be important for you to keep in mind a temporary drop in the immediate future, but it probably won’t affect your ability to get long-term loans.

The bottom line: Loan forgiveness is worth it

A rapid drop in your credit score shouldn’t deter anyone from applying for a loan forgiveness. A few lost credit points are insignificant compared to the importance of eliminating debt. Keep in mind that even if your loans should disappear from your credit report, you are still responsible for paying them—so if you stare at your debt and think, well, fuck himthen you should Lily what exactly happens if you just ignore your student loans.

The only other thing to consider right now is how your credit score factors into any plans to borrow money or finance a major purchase. If you are looking for a new car or a new house, consider getting pre-approved as soon as possible so that your credit score is as high as possible when you to apply. The the student loan forgiveness application doesn’t even open until early October, so changes to your credit score will happen long after that.

]]>
Man finds Oxy suspect in his mailbox: South Euclid Police Blotter https://howtooccupy.org/man-finds-oxy-suspect-in-his-mailbox-south-euclid-police-blotter/ Wed, 14 Sep 2022 23:12:00 +0000 https://howtooccupy.org/man-finds-oxy-suspect-in-his-mailbox-south-euclid-police-blotter/ SOUTH EUCLID, Ohio Drug Trafficking: Stonehaven Road A resident reported on September 6 that he found a plastic bag of pills in his mailbox. He said they weren’t for him and he thought they were Oxycodone. They were turned over to the police and entered into evidence. Fraud: Qulliams Road A resident said Sept. 8 […]]]>

SOUTH EUCLID, Ohio

Drug Trafficking: Stonehaven Road

A resident reported on September 6 that he found a plastic bag of pills in his mailbox.

He said they weren’t for him and he thought they were Oxycodone.

They were turned over to the police and entered into evidence.

Fraud: Qulliams Road

A resident said Sept. 8 that she had received multiple credit inquiries from Kia of Bedford on her credit file, but had no contact with the company.

A report has been filed so that she can challenge the investigations.

Custody dispute: Verona Road

A man reported on September 7 that his 17-year-old daughter was being kept with her mother against her will.

Officers responded to the home and confirmed the girl was with her mother of her own choosing. They advised the man to contact the Family Court if he wanted to pursue the matter.

Domestic violence: Argonne road

A woman reported on September 5 that the father of her child threatened her with a knife.

Responding officers spoke to the man, who denied pulling a knife.

The woman did not want to pursue the case and left the house for the night to avoid further trouble.

Fireworks: Belvoir Boulevard South

Officers responded to multiple reports of gunshots on September 5 and located a house party where fireworks were being set off.

A 39-year-old man, attending the party, was later cited for setting off fireworks.

Read more Sun Messenger news here.

]]>
Wall Street rallies again ahead of inflation report https://howtooccupy.org/wall-street-rallies-again-ahead-of-inflation-report/ Mon, 12 Sep 2022 22:44:32 +0000 https://howtooccupy.org/wall-street-rallies-again-ahead-of-inflation-report/ NEW YORK – Stocks soared again on Monday as Wall Street took its final steps ahead of a high-stakes report that investors hope will show inflation hit the economy less hard last month. The Standard & Poor’s 500 index rose 43.05 points, or 1.1%, to 4,110.41 for its fourth straight gain. It is his longest […]]]>

Stocks soared again on Monday as Wall Street took its final steps ahead of a high-stakes report that investors hope will show inflation hit the economy less hard last month.

The Standard & Poor’s 500 index rose 43.05 points, or 1.1%, to 4,110.41 for its fourth straight gain. It is his longest winning streak since July, at the start of the market’s rebound from his blows earlier in the year.

The Dow Jones industrial average rose 229.63 points, or 0.7%, to 32,381.34, and the Nasdaq composite gained 154.10 points, or 1.3%, to close at 12,266.41. .

The country’s extremely high inflation and the measures taken The Federal Reserve takes to fight it have been driving Wall Street all year. Economists expect a report on Tuesday to show consumer prices were 8.1% higher in August than a year earlier, but inflation was not as bad as the rate 8.5% from July.

A slowdown would bolster hopes that inflation peaked at 9.1% in June and is now coming down. This, in turn, could allow the Fed to avoid the worst-case scenario for the markets in which it would drive short-term interest rates up to recession-provoking levels and keep them there for an extended period.

“This week is going to be very revealing,” said James Demmert, founder and managing partner of Main Street Research.

Beyond Tuesday’s headline consumer inflation report, a report on Wednesday is expected to show that wholesale inflation slowed last month. A report the following day will show how US households have shifted their spending amid high inflation, while a report on Friday will show how much inflation households are bracing for in the years to come.

These are all crucial data points for the Fed as it considers the extent of the interest rate hike at its meeting next week. Fed officials recently loudly reaffirmed their intention to raise rates enough to slow the economy, as well as their commitment to keep rates high long enough to ensure that the job gets done on inflation.

But with Tuesday’s report possibly continuing a trend, many investors and economists are hoping inflation could quickly return to more “normal” levels, unlike the 1970s, when it took many years.

Jonathan Golub, chief US equity strategist at Credit Suisse, wrote in a report that investors and economists expect inflation to plummet in the next 12 to 18 months.

Markets are fairly confident that the Fed will raise its main short-term interest rate by 0.75 percentage points next week for the third meeting in a row. But the hope is that a slowdown in inflation will allow the Fed to successfully navigate the narrow path of a “soft landing” for the economy.

This is when higher rates slow the economy enough to stop inflation, but not so much as to cause a major recession. Higher rates hurt the economy by making it more expensive to buy a house, a car or anything else bought on credit. They also drive down the prices of stocks, bonds, and other investments.

Many traders expect the Fed to begin tapering the size of its rate hikes after next week through the end of the year, before potentially holding rates steady through the first half of 2023.

Of course, such hopes could also lead to disappointment on Wall Street. The economy has already given the wrong impression on inflation, with the hope that a peak has passed to start accelerating again.

Demmert said the broader market expects inflation to not only peak, but to begin to cool significantly. He said the high hopes raised by Tuesday’s inflation report “likely won’t be healthy for equities.”

Wall Street economists are still divided on whether the US economy will slide into recession next year due to higher interest rates and other factors.

The Fed has raised short-term rates four times this year, and its aggressive moves have helped the value of the US dollar soar against many other foreign currencies.

A strong dollar helps limit inflation in the country by lowering the prices of raw materials and imports, but it can also hurt the profits of American companies that make many sales abroad. The dollar gave up some of its gains on Monday after slipping against the euro, sterling and several other currencies.

Treasury returns were mixed. The 10-year Treasury yield, which helps control the direction mortgages and other lending rates are heading, is back at 3.34%, near its highest level in more than a decade.

The two-year yield, which tends to track Fed action expectations, was flat at 3.56%. It remains close to its highest level since before the 2008 financial crisis.

On the stock market, the vast majority of stocks rebounded. Energy producers were near the top of the rankings, benefiting from higher oil prices.

Bristol-Myers Squibb rose 3.1% for one of the biggest gains in the S&P 500 after federal regulators approved its treatment for adults with moderate to severe plaque psoriasis.

]]>
Kiplinger Staff: Retirement: Has Equifax Botched Your Credit Score? | Economic news https://howtooccupy.org/kiplinger-staff-retirement-has-equifax-botched-your-credit-score-economic-news/ Sun, 11 Sep 2022 02:30:00 +0000 https://howtooccupy.org/kiplinger-staff-retirement-has-equifax-botched-your-credit-score-economic-news/ QUESTION: I heard that Equifax sent bad credit ratings to lenders. How do I know if I was affected by this error? ANSWER: Equifax, one of the top three credit reporting companies, released a statement in early August indicating that a coding error led consumers to poor credit scores. The algorithm issue took place between […]]]>

QUESTION: I heard that Equifax sent bad credit ratings to lenders. How do I know if I was affected by this error?

ANSWER: Equifax, one of the top three credit reporting companies, released a statement in early August indicating that a coding error led consumers to poor credit scores. The algorithm issue took place between March 17 and April 6, 2022, with approximately 300,000 consumers being raised or lowered by 25 points.

The most pressing question on the minds of many consumers is whether they have been affected. And, unfortunately, the answer is not as clear and dry as one might think.

“There’s absolutely no way a consumer would know if their scores were higher or lower during that three-week period because of the scheduling issue,” says credit expert John Ulzheimer, author of “The Smart Consumer’s Guide to Good Credit”. You should be familiar with scoring models and know exactly how Equifax misprogrammed your credit report, he adds.

People also read…

However, there is a roundabout way of trying to figure it out. And it starts by asking yourself: have you applied for credit? Credit here means you applied for a new rewards card, mortgage, home refinance, or car loan within that three-week period.

If your answer is yes, the next thing you need to ask yourself is: was your application denied or approved at higher interest rates than you expected?

Next, check either your “Adverse Action Notice” or your “Risk-Based Pricing Notice”, which details the terms and conditions to which you have been approved. Both notices must state which report was pulled by the lender to determine your eligibility for the loan.

If your Equifax report was pulled, contact the lender and ask if your request was affected by the coding issue.

Remember, this is a programming problem, Ulzheimer says. The information in your Equifax – as well as reports from the other two major reporting companies Experian and TransUnion – has not been affected and should be accurate.

Indeed, if your “adverse action notice” or “risk-based pricing notice” indicated that your request was determined using your Experian or TransUnion report, the lender may legitimately consider you a risk.

In this case, you need to increase your credit score through healthy credit habits. This includes paying your credit card and other loans on time, as well as keeping your credit utilization ratio – the amount of available credit you use – below 30%.

Emma Patch is an editor at Kiplinger’s Personal Finance magazine. To learn more about this and similar money-related topics, visit Kiplinger.com.

]]>
Inflation toll on your credit; Why a Broker Shouldn’t Text You https://howtooccupy.org/inflation-toll-on-your-credit-why-a-broker-shouldnt-text-you/ Thu, 08 Sep 2022 23:54:42 +0000 https://howtooccupy.org/inflation-toll-on-your-credit-why-a-broker-shouldnt-text-you/ The investment information provided on this page is for educational purposes only. NerdWallet does not provide advisory or brokerage services, and does not recommend or advise investors to buy or sell particular stocks, securities or other investments. Are we nearing the top of the inflation mountain? The Federal Reserve says consumer cost inflation is seeing […]]]>

The investment information provided on this page is for educational purposes only. NerdWallet does not provide advisory or brokerage services, and does not recommend or advise investors to buy or sell particular stocks, securities or other investments.

Are we nearing the top of the inflation mountain? The Federal Reserve says consumer cost inflation is seeing “some degree of moderation,” but “substantial” price increases were reported in August for food, rent and utilities. You know, the things we can’t live without.

Wall Street is betting on another 0.75% rate hike by the Fed on September 21. Higher interest rates are the bitter pill we need to take to remedy rising prices. We may whine, but we have to swallow the medicine.

Meanwhile, the pain still hurts like hell.

Many Gen Z Parents Facing Financial Struggles

The impact of inflation is particularly severe among young adults, especially those with children. To show how dire the situation is for some households: more than a fifth (21%) of Gen Z parents with children under 7 have visited a food bank to feed their family or get household items. That’s the startling news from an online survey of 1,000 adults in July by insurance company Nationwide.

The survey indicates that most (87%) young parents would like to have started saving earlier. And 20% of Gen Z parents surveyed have taken on additional credit card debt to cover rising inflation costs, which leads us to…

Consumers under 40 rely on credit cards but don’t realize the downsides

Another survey, this one by JD Power, indicates that nearly 1 in 5 bank customers don’t know how their credit score is determined. “The highest rate of respondents who are unsure are vulnerable populations and those under 40,” according to the June survey of 4,000 US retail banking customers nationwide.

Like many, you may find that carrying a balance on your credit cards from month to month helps your credit. Not true. It could actually lower your credit score through a credit score factor called use of credit.

Of course, inflation is a price poison that can slowly bleed away the value of a dollar, and credit cards can help ease budget difficulties. But debt is not a long-term cure. Work for protect your purchasing power from inflation and carry credit card balances as sparingly as possible.

Messages from brokers result in massive fines

Receiving an email or text from your financial advisor’s personal phone can feel like high-quality customer service. But the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission consider it a violation of record-keeping rules.

In an investigation made public late last year, some of the industry’s biggest banks and investment firms faced record fines for failing to monitor their employees’ client communications. As a result, by the end of this month, Wall Street could face penalties totaling a staggering $1 billion.

Written financial and investment communications with clients are intended to be monitored and recorded for the purposes of employee supervision and investor protection.

Consumer messaging apps and personal email accounts installed on advisers’ phones are not authorized by financial firms for client contact – but, according to SEC filings, have been widely used by some employees of the Wall Street companies. Violators included customer-facing representatives and office executives.

“Indeed, supervisors, including managing directors and other senior supervisors – the very people responsible for implementing and ensuring compliance with…policies and procedures have used their personal devices to communicate about…securities-related activities said an SEC statement last December regarding one of the cases. .

More than half a dozen companies are expected to be fined $200 million each. And there is more to come. According to information released so far, no investors have been harmed in the messaging breaches, and there have been no privacy breach claims.

What if your financial advisor communicates with you in writing on a consumer messaging app or using their personal email account?

It may not mean that they are trying to hide anything, but should any future dispute arise regarding what you were told in this message, there would be no official records held by the company. It’s probably a good idea to ask your advisor to send you this information through company-approved communication channels, such as a branded email account.

California Mandates Electric Cars, But Is the Grid Ready?

The State of California is blazing a new trail – and burning it up at the same time. Late last month, state regulators issued a mandate to start curbing the sale of gas-powered vehicles, with a full ban by 2035.

Just a week later, the state was urging residents to refrain from plugging in their electric vehicles due to a record heat wave causing unprecedented demand on the power grid.

Can America’s electric grid handle the future of a predominantly electric automobile nation? Not without significant improvements, experts say.

A case study conducted by researchers at the University of California, Davis, the results of which were published in January, indicates that there is a lot of work to be done to prepare the state plug-in.

“In our highest adoption scenario of 6 million electric vehicles in California, we find that in PG&E’s service territory, 443 circuits will require upgrades (nearly 20% of all circuits) and only 88 of these departures have planned upgrades in the future,” the completed report said.

It will have to be done, otherwise your Tesla will be nothing more than court art.

]]>