As Americans take on more debt, some pockets of concern

NEW YORK — After a stint of frugality, Americans have returned to their borrowing ways. But are they getting into the kinds of debt trouble that lead to recessions?

U.S. consumers now owe roughly $12.73 trillion to banks and other lenders for mortgages, car loans and credit card spending, according to the New York Federal Reserve. That exceeds even the total before the last financial crisis.

Economists generally say people’s willingness to borrow is a good thing, because it shows they’re more confident about their financial futures. And the economy is in far better shape than a decade ago, when economists called […] Read more

In Brevard: OnTrack WNC Offers Free Credit Report And Score Event

In Brevard: OnTrack WNC Offers Free Credit Report And Score Event

 

On Monday, June 12, from 10 a.m.-4 p.m., OnTrack WNC Financial Education & Counseling will team up with Self-Help Credit Union’s Brevard Office at 40 Forest Gate Drive to offer free credit reports and FICO scores.

This event is open to the public and no appointment is necessary. The offer provides one free credit report and score per person. A photo ID is required for identification.

An OnTrack WNC certified credit counselor will pull credit reports/scores and conduct a confidential, mini-credit report review to explain credit report basics and […] Read more

Foreclosure Looms Over Two Affordable Condos

CHATHAM – In granting developer Mark Bulman a comprehensive permit in 2007, the zoning board of appeals agreed to waive 18 zoning regulations and allow construction of 10 condominiums on a lot which otherwise would have only supported two single-family homes. The trade-off was that two of the units had to be sold as affordable, and that developer Mark Bulman was required to contribute $150,000 to the town’s affordable housing trust fund.

Nearly a decade later, Bulman is asking for a refund of the $130,000 that he’s paid to date, warning that without the town’s cooperation the affordable units […] Read more

Spared by Sandy, but Still Agonizing Over What Comes Next

That effort reaches all the way to a two-story semidetached brick-and-frame house on Avenue M in the Canarsie neighborhood that the Fishmans have owned for 42 years. Canarsie sits on the vast Jamaica Bay. Numerous creeks and basins, like the Paerdegat, penetrate upland from the bay, putting surrounding areas at risk of flooding.

Continue reading the main story

Dr. Fishman, 66, is a professor emerita of history at York College in Jamaica, Queens. Mr. Fishman, 68, is a retired middle school teacher and administrator in Brooklyn and Queens. He loves stained glass. […] Read more

As Americans take on more debt, some pockets of concern | State-and-regional

After a stint of frugality, Americans have returned to their borrowing ways. But are they getting into the kinds of debt trouble that lead to recessions?

U.S. consumers now owe roughly $12.73 trillion to banks and other lenders for mortgages, car loans and credit card spending, according to the New York Federal Reserve. That exceeds even the total before the last financial crisis.

Economists generally say people’s willingness to borrow is a good thing, because it shows they’re more confident about their financial futures. And the economy is in far better shape than a decade ago, when economists called the debt unsustainable […] Read more

The No-Sweat Guide to Managing Your Credit

Taking care of your credit score can feel like tending a garden. Lucky for you, most of the time maintaining a healthy credit score is actually pretty simple. In most cases, you can think of your credit score as one of those succulents that only requires some decent soil, a little time with the sun and a regular encounter with water.

Though not everyone can raise their credit score 170 points in a year, taking care of your credit isn’t an oppressive burden to bear. With that in mind, here are some things you can do to monitor your credit and […] Read more

Credit card information threatened at local Chipotle restaurants | Local News

Customers who ordered food at any of the three Chipotle restaurants in the Tri-State area from late March to mid-April could have had their credit card information stolen.

The fast-casual Mexican restaurant recently announced many of its locations across the country were hit by a malware attack that was designed to get credit card data from point-of-sale devices from March 24 to April 18.

According to Chipotle’s website, the local security breaches took place at the following restaurants on the following dates:

• Hagerstown, 18003 Garland Groh Blvd., March 25 to April 18.

• Chambersburg, Pa., 975 Norland Ave., March 26 to April 18.

• Martinsburg, W.Va., […] Read more

What Is A Good Credit Score

Your credit score is created from your credit reports, and the information can differ from bureau to bureau. The three currently in use are Equifax, Experian, and TransUnion. You can pull a free credit report (authorized by the government) at AnnualCreditReport.com if you want to make sure that everything looks clear and, importantly, fix any errors. But when you’re in the market for a major loan, you may want — and need — to pay for your score, which won’t be included in that report.

[…] Read more

Millions of people will soon see their credit scores improve — at least a little

FICO calculations will no longer include data on civil judgments and tax liens (iStock)

If you’ve heard that some people might get a magic boost to their FICO credit scores in the 10-point range — without having to do anything — that’s right. But hundreds of thousands of consumers’ increases will be much larger.

According to a massive new study of 30 million credit files just completed by score developer FICO, many Americans will experience score bumps in the coming months, mainly modest increases of fewer than 20 points. But hundreds of thousands of the increases will be supersize — in […] Read more

5 Things That Cause Your Credit Score To Drop

How do credit bureaus calculate your credit score? It may seem that there are people in secret rooms armed with dartboards, roulette wheels, or Magic 8-Balls attempting to assess your credit score daily. Sometimes it goes down, and you have no idea why.

There is a pattern, even if you cannot see it. Your credit score goes down because an event has taken place that, from the perspective of a creditor, makes it more likely that you will miss payments or default on loans. Here are a few such events that can concern creditors and catch you by surprise:

1. A Cancelled […] Read more