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NFCC Blog: Staying the Course

Why Rent-to-Own is the Wrong Choice for You

By Jesse Campbell There are a lot of times when renting makes sense. When you fly into a new city and you have a lot of traveling to do, rent a car. When you’re on vacation and want to explore that beautiful little seaside town, rent a bike. When you’re throwing a big party and have a lot of guests coming, rent a tent. Renting makes sense in those instances …Read More

Pros & Cons to Paying Off Credit Card Debt

By Melinda Opperman It might seem strange to weight the pros and cons of paying off credit card debt. Intuitively, there are no negative consequences to paying off debt, and no positive consequences when debt is left unpaid. But this applies only to debts that are current or very recent. When it comes to old debts, there are definitely pros and cons to paying off old credit cards. If a …Read More

Resetting Your Retirement After Divorce

By Jason Alderman When couples divorce, long-term financial priorities sometimes receive the least attention. Many money issues are about immediate needs – where to live, how to handle everyday expenses and if there are kids, how to support their needs in two households, not one. This is why retirement planning can face serious obstacles post-divorce. In marriage, a two-earner household has the advantage of splitting living expenses and pooling assets …Read More

Avoid a Vacation Financial Hangover

By Mark Foster With summer approaching for many people that means time for some vacation fun! “Where do you want to go?” “What do you want to do?” Those are fine questions, but the most important vacation question of all is “How much can you afford to spend?” It’s okay to spend money on a vacation if your budget allows it, but overspending is something you definitely want to avoid. …Read More

Fair Housing

By Bruce McClary The passage of the Fair Housing Act in 1968 heralded a new era of economic opportunity for millions, protecting buyers and renters from discrimination. While many are aware of its existence, it is not uncommon to find confusion over specific protections and enforcement. As providers of housing and rental counseling, it is important to understand the key elements of the Act and how action can be taken …Read More

Patiently Waiting for Your Tax Refund is Better Than Eating Expired Meat

By Gary Silverman Note from Gary: My colleague at Personal Money Planning, Certified Financial Health Counselor and Certified Credit Counselor (among other things) Michelle Kuehner, offered to help me out on a few of these posts. You can find out more about her at our website and at FixOurBudget.com. A while back I wrote in my blog about watching a few episodes of Extreme Cheapskates (don’t judge…). I also made …Read More

Credit Repair Service – Yes or No?

By Kimberly Rotter Credit repair services offer to help consumers raise their credit scores for a fee. They are perfectly legal. Anyone whose credit application has been turned down because of poor credit understands the attraction of the promises they make, but most personal finance experts and consumer advocates advise against it.   Top 3 Complaints Voiced by Real Customers Credit repair services are not inherently evil, and we won’t call out any …Read More

NFCC® Announces Participation in CFPB Financial Education Exchange

By Bruce McClary Financial educators and consumers share many of the same goals in the ever changing world of personal finance, including the need to stay up-to-date with the latest information and resources. The NFCC is pleased to announce participation in the Consumer Financial Protection Bureau’s new Financial Education Exchange (CFPB FinEx) unveiled today. “Financial educators rely on quality training and resources to help them serve consumers,” said NFCC president and …Read More

Who Pays Closing Costs In A Home Purchase?

By Tali Wee  Understanding all the details of a home purchase can be overwhelming and downright confusing for some, and especially when it comes to closing costs. Before buying, shoppers must budget the future monthly costs of owning, including property taxes and insurance, and then add on the down payment and other fees due at closing. Closing costs are tough to fully understand because they vary by location, lender, and …Read More

Debt and the Deceased: How Should Spouses and Heirs Proceed?

By Jason Alderman When a loved one dies, is it possible to inherit their debt? It’s a serious question for heirs and particularly for couples who hold debt jointly. In most cases, a deceased person’s debts fall to their estate for payment. However, depending on state law, shared credit relationships and the amount of debt in question, surviving family members may be shocked to learn that they could be legally …Read More