Between financially helping his parents and losing income as a result of the COVID-19 pandemic, Jeremy Mazza landed into serious credit card debt. Relief came from a source he wasn’t expecting: his partner, Ginna Lambert, who had come into a small inheritance. She suggested “investing” part of her bounty in their shared future by lending…
Dear Dr. Chloe: Parents Hope Adult Son Stops Frivolous Purchases and Gains Financial Independence
Dear Dr. Chloe, We are a married couple whose adult child has been living with us due to financial problems related to credit card debt he is still paying off from his early 20s. While we want to help, we also notice he is making purchases we consider to be frivolous. We have tried to…
LIVE NOW: NTD News Today (Jan. 24): Democrats Propose Eliminating Debt Ceiling; Key FBI Agent in Trump Russia Probe Indicted
Dozens of House Democrats are pushing for elimination of the U.S. debt ceiling. They are calling for unlimited borrowing so the government can spend whatever it needs. A former FBI official was arrested and indicted for ties to Russia. He played a lead role in investigating the now-discredited collusion between former President Trump’s 2016 presidential campaign…
Using Home Equity Credit? What Not to Do
January 23, 2023
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A home equity line of credit (HELOC) uses your home’s equity to finance a variable interest-rate loan. You wouldn’t have the money upfront like you would a conventional loan. Instead, you draw against your line of credit. With a HELOC, your home is your collateral. There are times a HELOC is a worthwhile mechanism. But…
Capitol Report: New Polling Offers Glimpse Into Possible Biden–Trump Rematch; SCOTUS Fails to Find Leaker
President Joe Biden’s approval rating dropped to near its lowest level as the White House reveals how the latest documents scandal could affect his 2024 decision. The United States maxed out on its debt Thursday. The Biden administration is putting pressure on Congress to raise the limit again. As former President Donald Trump moves forward…
Parents, Know Your Legal Responsibilities on Your Kids’ Credit Card Debt
January 15, 2023
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By Steve Rosen From Tribune Content Agency Your teen had a great time using his credit card on holiday shopping sprees, so much so that he spent to the max and now can’t pay the tab that is due. This is a reality check right to the wallet for mom and dad. That’s because the…
Kevin McCarthy: Debt Limit Should Be Treated ‘Like Our Own Household’
House Speaker Kevin McCarthy (R-Calif.) previewed Republicans’ strategy regarding how to handle the U.S. debt limit after Treasury Secretary Janet Yellen warned that the limit will be reached next week. Analysts say the debt ceiling battle will turn into a political showdown, with some Republicans tying raising the debt limit with other provisions. Some said…
Treasury Secretary Warns Congress US Will Hit Debt Ceiling Within a Week
Treasury Security Janet Yellen warned the United States is projected to hit its $31.4 trillion debt borrowing limit by next week, according to a letter she sent to congressional leaders on Friday. In a letter (pdf) to House Speaker Kevin McCarthy (R-Calif.), Yellen wrote that according to projections, the country will hit the debt ceiling…
The Big House Fight to Come Will Be the Debt Ceiling
January 10, 2023
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Commentary Last week’s struggle in the House of Representatives to select Kevin McCarthy (R-Calif.) as speaker of the House is probably the most contentious House battle most of us will see in our lifetimes. But there is another one coming that is far more important: the battle over the debt ceiling, which will be looming…
Family Finances: Starting the New Year Without Guilt
By Emma Patch From Kiplinger’s Personal Finance Scarlett Cochran, author of “It’s Not About the Money: A Proven Path to Building Wealth and Living the Rich Life You Deserve,” offers sage financial advice. Question: If it’s not all about the money, then what’s it all about? Answer: Money evolved as a tool to help us…
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