Author Archives: Jay Butchko
Federal Student Loan Changes Under The PROSPER Act
A bill has recently been introduced in the U.S. House of Representatives that could affect hundreds of thousands of student loan borrowers who are hoping to use the Public Service Loan Forgiveness program to pay off their loans. Under the Promoting Real Opportunity, Success and Prosperity through Education Reform (PROSPER) Act, the loan forgiveness… Read More »
Is Credit Life Insurance Necessary For The Average Consumer?
Getting life insurance coverage is a good financial planning move for many people. A life insurance policy can help the insured person’s family members or friends after the insured’s death. However, there is one kind of life insurance policy that consumers should be careful about; this is the credit life insurance policy. Unlike most… Read More »
Protections Under The Servicemembers Civil Relief Act
Serving in the military can sometimes mean that a person is unable to take care of some financial obligations, which could lead to foreclosure or other actions for repossession of collateral assets by lenders. In recognition of the extraordinary circumstances that military servicemembers face while they are on active duty that may under some… Read More »
Protections Afforded Under The Home Improvement Consumer Protection Act
Planning a home improvement or repair project can be stressful for the homeowner. While home do-it-yourself projects are popular and can save a homeowner some money, there are some projects that require a professional contractor. However, not all contractors work to keep the promises they make in order to secure the contract. The frustrated… Read More »
Deed In Lieu Of Foreclosure
There are several ways a homeowner can try to avoid foreclosure proceedings or a final judgement of foreclosure in Pennsylvania. One way that the homeowner can avoid the damaging impact of a foreclosure is through a deed in lieu of foreclosure. While this process can give the homeowner a way out of a difficult… Read More »
The Dangers Of Overdraft Protection
While bank overdraft protections are offered to consumers as a service, they are not often the saving grace they appear to be. In many cases, overdraft protection and overdraft loans come with high fees that continue to increase the consumer’s financial woes. In some cases, consumers are not aware that the overdraft protection they… Read More »
Rule Prohibiting Mandatory Arbitration Struck Down
A rule proposed by the Consumer Financial Protection Bureau (CFPB) to protect consumers and make it easier for them to sue banks and other financial institutions has been struck down before it was set to take effect in 2019. The rule sought to protect consumers by prohibiting financial institutions and credit card companies from… Read More »
Payday Loans In Pennsylvania
Payday loans are a form of predatory lending that is offered to consumers who often have few other avenues to acquire credit. While payday loans may seem like a quick way out of a financial bind, they often mean the consumer is trapped in what may become a repayment nightmare because of the high… Read More »
Reverse Mortgage Foreclosure
For older homeowners, the idea of a reverse mortgage can sound appealing, especially if the homeowner is going through some tough financial times. A reverse mortgage is a type of home loan where the homeowner uses the equity in his home to get a loan that is distributed in monthly payments. In contrast to… Read More »
Disputing Incorrect Information With Creditors And On Credit Reports
Incorrect information on a credit report can have a negative impact on a person’s credit score, and therefore affect the person’s ability to get low interest loans, and even affect a person’s employment prospects in some industries. Because of this, it is important for a person who notices incorrect information on his credit report… Read More »
