Category: Education

By Jessica Stokes, DMCC Due to the recent state of our economy, many people have been confronted with an unpredictable loss of income as companies are forced to restructure their workforce. Layoffs, downsizing and foreclosure seem to be constantly in the news. Companies are also cutting back on overtime, which can cause a profound reduction [...]

By:  Phil Heinemann, DMCC If you are struggling to pay your credit cards or other unsecured debts each month and you simply to do not have sufficient income to balance your budget, there are three primary options that may provide you the relief you need. Debt Management Plans (DMPs) DMPs are offered by your creditors [...]

STEPS TO OBTAIN FREE ONLINE CREDIT REPORT   Step 1: Open a browser and go to www.annualcreditreport.com. Step 2: Select your state using the drop down menu and click “Request Report”. Step 3: Complete the online form and click “Continue”. Step 4: Click on the check box next to TransUnion (you may also choose Experian or [...]

Are you in Debt Trouble? Here are some ways to tell if you are. 1. You do not have any savings. 2. You make minimum payments on your credit cards. 3. You use credit cards for things you used to buy with cash, such as groceries. 4. You use increasing amounts of your total income [...]

Getting out of debt is a great concern for Americans today. Those who suffer from extreme debt often feel like there is no way out of their situation, but the reality is that with careful planning even those in the direst circumstances can look forward to a debt-free tomorrow. There are many different options for [...]

Starting in 2011, many credit-seeking consumers will get more information about how their credit report or credit score can impact a lender’s decision to grant credit and the terms under which credit is offered. Beginning January 1, new rules from the Federal Reserve and the Federal Trade Commission require lenders to provide new information to [...]

Student loans have become the standard in education. Students borrow all they can without regard for the consequences. USA Today reports that student loan debt now exceeds $850 billion. This is the top debt category for America, surpassing credit card debt which is a mere $828 billion. Young people are leveraging their futures, and for [...]

“I just need enough cash to tide me over until payday.” “GET CASH UNTIL PAYDAY! . . . $100 OR MORE . . . FAST.” The ads are on the radio, television, the Internet, even in the mail. They refer to payday loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit [...]

Could identity thieves be using your personal and health insurance information to get medical treatment, prescription drugs or surgery? Could dishonest people working in a medical setting be using your information to submit false bills to insurance companies? Medical identity theft is a twist on traditional identity theft, which happens when someone steals your personal [...]

New Federal Reserve rules give debit and ATM card users additional options regarding overdrafts. In the coming months, banks, credit unions, and other financial institutions must offer you the ability to make decisions about overdrafts for transactions made with your debit or ATM cards. Expect your bank to send you an explanation about how it [...]

8 ways to avoid pitfalls in areas such as interest rate and fee increases As previously reported, Congress in 2009 passed a new law for credit cards that helps protect consumers from most instances of sudden interest rate increases and other unfavorable changes in fees and account terms. Most of the rules implementing the law [...]

Prohibitions and Restrictions on Interest Rate Increases: Card issuers generally can’t increase the interest rate on a credit card for one year after an account is opened, and after that, the rate can generally only rise on new transactions. However, there are several exceptions that allow for rate increases during the first year and on [...]

A reverse mortgage is essentially a loan against your home that you do not have to pay back for as long as you live there. It allows homeowners age 62 or older to borrow cash from the equity in their homes without having to make monthly payments. A reverse mortgage is often advertised as a [...]

The FICO Expansion score is a credit risk score developed by the Fair Isaac Company specifically to help lenders determine the credit worthiness of consumers with insufficient credit histories. The score predicts how likely a consumer will become delinquent in the 24 months following the analysis by evaluating financial relationships, usually absent in credit bureau [...]

Click on the links below to download our handouts and worksheets as a PDF. Get the latest PDF viewer here. Daily Expense Tracker Budget Worksheet Compound Interest Chart What You Should Know About Identity Theft How to Dispute Credit Report Errors Steps to Obtain Your Free Credit Reports

DMCC Educational Videos Student Financial Aid:  Learn what types of financial aid are available and how to get them. Student Financial Aid Video Bankruptcy:  Learn the causes, trends and consequences of bankruptcy. Bankruptcy Video Credit Card Basics:  Learn how to manage your credit cards.  Find out what kind of fees creditors can charge you and [...]

Maybe you want to do your part for the environment. Perhaps, you want a more economical way to travel since gasoline prices are on the rise. Or, you may want to purchase a vehicle that rewards you with federal tax incentives. Regardless of your reason for purchasing a hybrid vehicle, you need to do research and make sure [...]

PRESS RELEASE Nonprofit agency presents free Webinars to tell consumers the truth about debt settlement and loan modification advertisements. DEERFIELD BEACH, Fla., May 13 /PRNewswire-USNewswire/ –Debt Management Credit Counseling Corp., a nonprofit organization (“DMCC”), today announced that it will be presenting free Webinars to inform consumers of the truth behind certain debt relief advertisements. The [...]

Mortgage Payments Sending You Reeling? Here’s What to Do The possibility of losing your home because you can’t make the mortgage payments can be terrifying. Perhaps you’re having trouble making ends meet because you or a family member lost a job, or you’re having other financial problems. Or maybe you’re one of the many consumers [...]

When the loss of your home becomes a real possibility, you need to be proactive in addressing the problem. It also helps if you know the different possibilities and options your lender may offer you. As discussed in the article “Face Your Mortgage Issues Directly and Realistically” your lender would rather not foreclose and face the expenses involved if [...]