Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Loading
Tap on the profile icon to edit
your financial details.

Debt

Jan 26, 2022 Most Americans have heard stories about surprise medical bills that can cost unknowing patients thousands of dollars for what they may have thought were simple or necessary procedures. However, the practice of surprising patients with medical bills may soon be a thing of the past. The federal No Surprises Act, passed last year, went into effect on Jan. 1, 2022. It's designed to protect Americans against these kinds of surprise medical bills. More specifically, the bill prevents providers from charging patients over what their insurer pays, a practice known as "balance billing." It should be noted that there are certain caveats that relate to a patient's health insurance and whether they receive care at an in-network facility. There are other important things to know about the No Surprises Act, and managing your healthcare costs and your finances can be complicated. A financial advisor may be able to help you get things in order. Check out SmartAsset's free advisor matching tool to find an advisor in your area. Read More...

Oct 22, 2020 In borrowing, there are two types of debts, recourse and nonrecourse. Recourse debt holds the person borrowing money personally liable for the debt. If you default on a recourse loan, the lender will have license, or recourse, to go after your personal assets if the collateral's value doesn't cover the remaining amount of the loan that is due. Recourse loans are often used to finance construction or invest in real estate. Here's what you need to know about recourse loans, how they work and how they differ from other types of loans. Read More...

Aug 16, 2016 Dealing with debt collectors can be a real drag, especially if they're constantly hounding you to pay up. The Fair Debt Collection Practices Act (FDCPA) protects consumers against harassment from debt collectors but the industry still generates millions of complaints each year. Fortunately, the Consumer Financial Protection Bureau (CFPB) has proposed new guidelines that shield debtors from abusive debt collection efforts. Read More...

Jul 31, 2019 There's nothing like falling in love and finding the person you want to spend the rest of your life with. But when it's time to shop for rings, it's easy to get discouraged by the price tags. Just how much should you spend on an engagement ring? We'll dive into the topic and discuss ways to save on the big purchase. Read More...

Sep 30, 2022 One of the lessons I’ve learned as I continue to work my way out of debt is that you need to treat yourself and celebrate your little successes along the way so you can avoid debt fatigue down the road. Celebrating small milestones, like getting another $1,000 knocked off your debt total, starting to put money aside for retirement or paying off a credit card balance, is important for both your sanity and your family’s sanity. Read More...

Apr 10, 2017 Mark and Lauren Greutman were a couple dealing with debt. Instead of turning the other way, they faced their problem head on, taking drastic steps to improve their financial path. Then they decided to share their story and what they've learned through a new website launched in 2014. We caught up with them for this edition of SmartAsset Talks. Read More...

Feb 16, 2015 It’s almost impossible to get through life without taking on debt at some point or another. Between using student loans to go to college, taking out an auto loan for your first car or qualifying for a mortgage your first house, debt seems to be a part of most people’s lives. That’s not to say that you have to live with debt forever, but just you will likely be in debt at sometime. Read More...

Apr 10, 2017 We often hear about the negative consequences of debt. And while it is certainly a good idea to avoid unnecessary and high-interest debt, most people will carry some kind of debt at some point in their lives. Attorney and author Leslie Tayne wants to help you look at debt in a different way. In her new book, Life & Debt, she encourages people to understand, manage and embrace debt. Read More...

Jun 19, 2018 If you're getting hounded by debt collectors or your monthly minimums are eating up a huge chunk of your budget, consolidating your bills can give you a little more breathing room. Transferring your high interest credit card debt to a card with a lower rate or taking out a personal consolidation loan are two options to consider but homeowners also have a third choice in the form of a home equity loan. Going this route can be cost-effective in the long run but it's not without its dangers. How does a home equity loan work? Here are some pros and cons to keep in mind if you're planning on using your equity to eliminate debt. Read More...

Apr 20, 2022 If you buy a house with less than a 20%  down payment, and finance it with a conventional loan, you are going to have to pay private mortgage insurance. PMI protects the lender against the possibility of a default. It does not protect you, the buyer, but it does give you the benefit of buying a home you might not otherwise have been able to get. Use SmartAsset's free financial advisor matching tool to connect with a professional who can provide guidance on how to manage a mortgage within your financial plan. Read More...