Garnished wages, debt harassment, and faulty payday lenders. Be smart out there, consumers.
NPR — Ten percent of working Americans between 35 and 44 are getting their wages garnished, according to the study done by NPR and ProPublica. This can be due to old medical debt, credit card debt, and student loan debt, but some states are more forgiving than others.
Consumerist — Yep. 19 different companies were sued by the FTC for depositing anywhere from $200 to $300 in various consumers’ bank accounts, without their permission. The victims were people who had previously given their account information to the lender when they were seeking a loan. These companies doled out an astonishing $28 million in unauthorized payday loans, then siphoned off the interest, and even people who closed their bank accounts continued to be harassed by debt collectors for not paying back not-real debts.
Money Ning — Dividend investing? What’s that? It’s usually for folks who don’t have a lot of money to invest, want their investment portfolio to be diverse, or those who want slow but steady payments. One blogger took a small amount ($1,000) and invested it in dividend stocks — usually “safe” stocks like McDonald’s or Target — for the first time. So far this year, she’s made $30.50 — not a ton, but it’s thirty extra bucks, and she tells you how you can do the same.
Money Talks News — Last year, worker misclassification cost taxpayers billions of dollars. When companies classify you as an independent contractor rather than an employee of the company, you miss out on the benefits that include not having to pay your own Social Security and Medicare taxes.
Money Under 30 — With tuition on the rise and student loan debt in America at an all-time high, post-graduates are getting finding more and more creative ways to pay off their debt. If you’re in over your head, try crowd funding online, get matched with a sponsor, join the Corps for a year, or get into public service and get your loans forgiven after 10 years of payment.