Talk to Our Financial Counselor: đź“ž877-402-6322
If you’re out of work because your position was cut during the pandemic, you are certainly not alone. Many service-based industries have made substantial job cuts since March, and the employment landscape is constantly shifting beneath our feet. Hopefully, you are already taking the basic steps of staying in touch with your state unemployment office to make sure you receive your benefits. That office should also be able to point you to many resources that could help in your job search.
Consolidation and refinancing are two commonly-discussed debt repayment solutions. Though these terms are sometimes used interchangeably, there are some important differences between the two and considerations that go into choosing which one is best for you. Adding to the complication is that “consolidation” is often associated with credit card debt while “refinancing” is often used to describe a particular mortgage repayment strategy. In reality, most types of debt can be consolidated or refinanced. Each of these options may be a viable strategy for your credit card debt. Here is a closer look at the two approaches, with an emphasis on how you might use them for credit card debt.
Your credit score is a seemingly simple three-digit number, but it can have a major impact on your finances. Without a high score, you may not be able to pursue some of your major financial goals. Or even if you can, those goals can actually turn into major challenges if you’re stuck with high interest rates because you had a low score. If you are preparing to improve your credit, you need to know the general ranges for scores so that you can set a specific goal for yourself. There are various tiers of credit scores, and being in a higher tier will generally bring the reward of better terms.
NFCC Facebook Live:
FinancialFacts Chat with NFCC Housing Expert, Hermond Palmer
CDC and Renter Protections, Extended Moratoriums for Federally Backed Mortgages, and What's next?
NFCC in the News đź“°
-
Joining the military can affect your credit, learn how to protect it Read More...
-
My parents have $50,000 in credit-card debt and $50,000 in a home-equity loan. My father works part-time and my mother refuses to work. How can we help? Read More...
Around the Countryđź—˝
The Trump administration created a Lost Wages Assistance program that offers up to six weeks of $300 payments to supplement unemployment benefits. However, hundreds of thousands of workers don’t qualify for the subsidy. Here’s a rundown of who shouldn’t expect to get the $300 weekly supplement. Many states have begun issuing a $300 weekly boost to unemployment benefits as part of the Lost Wages Assistance program created last month by the Trump administration.
Previous Newsletter đź“°
