American Financial Solutions Blog
CFPB Heightens Scrutiny of Unlawful Collection of Payments on Discharged Student Loans
Examiners found servicers engaging in unfair practices in trying to collect on private student loans discharged in bankruptcy
How Medical Debt Does and Does Not Impact Your Credit Report or Score
For many people, the announcement last year that the three major credit reporting agencies would remove paid medical debts from credit reports was a welcome relief. Medical bills and the confusion those bills and insurance cause, has led to many people owing debts they never planned for. Here is an update on the changes to credit reports, credit scores, and how to manage medical bills.
The Best Budgeting Apps for 2023
Budgeting can be challenging, but more digital tools are available to help you boost savings, lower debt, and experience greater peace of mind about finances. Discover some of the best money management apps to help you achieve more financial stability in 2023.
Affordable Connectivity to Broadband Internet Program
The Affordable Connectivity Program is a Federal Communications Commission program that helps connect families and households struggling to afford internet service. Eligible households can enroll through a participating broadband provider or directly with the Universal Service Administrative Company (USAC) using an online or mail in application.
Student Loans – One-Time Debt Reduction
On Aug. 24, 2022, the Biden-Harris Administration announced the One-Time Student Loan Debt Relief plan that includes one-time student loan debt relief targeted to low- and middle-income families.. The discharge will not be automatically granted. YOU MUST APPLY. Here are steps to take to determine eligibility and ensure you do not miss important student loan updates.
Protect Yourself from Financial Institution Fraud
A recent headline from the Consumer Financial Protection Bureau (CFPB) has alerted consumers that another financial institution has been fined for, “Illegally Exploiting Personal Data to Open Sham Accounts for Unsuspecting Customers.” This typically happens when financial institutions incentivize their employees to open new credit and loan accounts and to sell certain financial products. Find out how you can protect yourself.
Save Money with a Monthly Cleanse
Many people have heard of a financial cleanse. And if you have not, it is a way to understand where your money goes and ensure that those expenses align with your financial goals and values. It focuses on changing the relationship we have with money.
Some Financial Advice to Beware Of
According to an article on Bloomberg.com, 53% of couples say inflation is prompting them to discuss money more often with their partners. This is great news as just four short years ago 44% of Americans saw personal finance as the most challenging topic to discuss with others (Scientific American).