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Emergency loan forgiveness aid

Emergency loan forgiveness aid

On Aug. The U. What follows is an explanation of who is eligible, how to apply and the link to a compendium of FAQs addressing common questions. You might be contacted by a company saying they will help you get a loan discharge, forgiveness, cancellation, or debt relief for a fee.

You never have to pay for help with your federal student aid. Make sure you work only with the U. S Department of Education and our loan servicers, and never reveal your personal information or account password to anyone.

Department of Education emails to borrowers are from noreply studentaid. gov , noreply debtrelief. gov , or ed. gov public. You can report scam attempts to the Federal Trade Commission by calling or at reportfraud.

A link to this form will be added to this web site when it becomes available. To obtain a federal direct consolidation loan, contact the US Department of Education. If you have not yet consolidated, you can seek a federal direct consolidation loan in order to obtain an income contingent repayment plan.

You can request income-contingent repayment or income-based repayment. The consolidation loan application does not currently include a checkbox for requesting these repayment plans, so you must ask for it separately.

Skip to primary navigation Skip to main content Skip to primary sidebar Skip to footer. Why you should think twice. Get your loans out of default: Sign up for the Fresh Start program. Student loan scams on the rise: How to protect yourself. Student loan forgiveness might seem too good to be true, but there are legitimate ways to get it through free government programs.

The following options are available only to borrowers with federal student loans. Some programs have very specific requirements that make them difficult to qualify for, but income-driven repayment plans are open to most borrowers. The information below is about existing student loan forgiveness programs, where borrowers must qualify based on specific requirements.

If successful, all of the borrower's debt is forgiven. Income-driven repayment forgiveness. The federal government offers four main income-driven repayment plans , which allow you to cap your loan payments at a percentage of your monthly income.

When enrolled in one of these plans, your remaining loan balance will be eligible for forgiveness after 20 or 25 years, depending on the plan. These plans are most beneficial for those with large loan balances relative to their income.

This forgiveness was made tax-free retroactive to December through the end of , as part of the March American Rescue Plan.

However, most borrowers will not qualify for forgiveness through income-driven repayment until the early s. Public Service Loan Forgiveness. Public Service Loan Forgiveness is available to government and qualifying nonprofit employees with federal student loans.

Eligible borrowers can have their remaining loan balance forgiven tax-free after making qualifying loan payments. Teacher Loan Forgiveness. Teachers employed full time in low-income public elementary or secondary schools may be eligible for Teacher Loan Forgiveness after working for five consecutive years.

To qualify, teachers must have taken out loans after Oct. Student loan forgiveness for nurses. Public Service Loan Forgiveness may be the most likely option for most nurses — few borrowers have Perkins loans, and the NURSE Corps program is highly competitive. There are a few additional niche student loan forgiveness or payment assistance programs you may qualify for through federal or state programs.

Eligibility in these programs depends on your profession and where you work. State-sponsored repayment assistance programs. Licensed teachers, nurses, doctors and lawyers in certain states may be able to take advantage of programs to assist with repaying debt.

See if you qualify for a federal student loan forgiveness, cancellation or discharge program such as Public Service Loan Forgiveness Use the PSLF Help Tool to help complete your Public Service Loan Forgiveness (PSLF) & Temporary Expanded PSLF (TEPSLF) Certification & Application (PSLF form)! PSLF allows qualifying federal student loans to be forgiven after qualifying payments (10 years), while working for a qualifying public service employer. If

Medical debt forgiveness

Medical debt forgiveness

Communicating with the provider or a certified debt counselor is key to making payments affordable and avoiding collection agencies. It is a major, major mistake to assume insurance will cover every penny of a major medical expense.

Study and understand your coverage. Ask for an Explanation of Benefits EOB. Make calls to your insurance company before the procedure to be sure you understand what they will pay and what you are expected to pay.

The Healthcare Bluebook is an online service that allows consumers to gauge a fair price on medical procedures where you live. Nonprofit hospitals are required by law to have these programs in place. Using important terms can help your cause. That is the full cost hospitals use with insurance companies, costs that are frequently reduced.

Ask the hospital if you can pay the lower rate given to insurance companies or Medicare. If you have a long-standing relationship with your doctor, try to deal with him or her directly to reduce costs or work out a payment plan.

When it comes to hospital costs , ask the billing office to explain all charges. Auditing every detail is the best way to protect against honest mistakes or outright fraud. If you qualify, take advantage of it. Finally, some states require hospitals to offer discounts to uninsured patients regardless of income.

Some hospitals and medical groups have funds set aside for individuals who do not qualify for other types of assistance. If you are certain you should be reimbursed, or that your doctor or hospital should be paid by your healthcare provider, file an appeal in a timely manner, as most insurers limit the time you have to question a benefit.

It often is just 30 or 60 days. Be prepared for denials and delays and be careful to keep records of all phone calls and correspondence. There is some recent good news on this front. As of April , Equifax, Experian and TransUnion — the three main credit reporting companies — agreed to remove negative credit marks created by certain medical debts.

That is a very good thing, because a single medical debt in collections can harm your credit score by as much as points. A negative mark stays on reports for up to seven years. In addition, unpaid medical debts only appear on a credit report after a year of being in collections rather than the six-month timetable under the previous rules.

That gives consumers more time to address the debt. Many of these changes resulted in part from No Surprises Act, which took effect in Another improvement: The latest tweaks to credit scoring models give less weight to unpaid medical collections than to other kinds of debt collections that appear on credit reports.

Even before all those positive recent developments, medical debt was treated differently than other kinds of debt when it comes to its effect on your credit.

The credit scores most at risk of being hurt, then, belong to people with large, unpaid medical debt who have trouble appeasing the collection agency, and there are still plenty of people in that situation.

Contact your service provider or a debt specialist with any questions and resolve the matter as quickly as possible. If you are worried that medical debt is hurting your credit, check your credit report. The law guarantees that you can get one credit report a year from each of the three major credit bureaus.

A nonprofit credit counseling agency can assist you in getting those reports and will review them with you to help develop a personalized plan to solve your medical debt. Here are deeper looks at the two government initiatives we just mentioned, one involving direct billing from hospitals and medical providers, and the other involving the role of collection agencies.

In , NPR ran a monthly series on surprise and expensive medical bills, and what it took to lower them. Its story told of a Colorado man who needed an appendectomy, then had a follow-up surgery for a blood clot.

That kind of predicament caught the attention of Congress. The NSA took effect on Jan. Even if you are uninsured, the NSA, along with similar laws passed by many states, often makes it possible to get an up-front, good-faith cost estimate before the treatment is provided.

It has played a major role in alleviating unlawful medical debt collections. The CFPB proposal would make the changes mandatory. They are expected to be opposed by the hospital industry.

The goal, as with any kind of debt, should be to keep the collection agencies from darkening your doorway, or your telephone, or your mailbox about your overdue medical bills. Even with the recent modifications to the credit reporting system that give consumers some protection for their credit rating, you want to avoid collections.

You do that by being pro-active, by treating your medical bills the way you do or should any other debt: honestly and responsibly. Here are some steps you can take to get control of the medical bills that are giving you trouble.

The possibility of settling medical debt for less than what is owed is there for the taking. It involves some work, but a nonprofit credit counselor , an experienced debt specialist or a professional debt settlement firm can help. Settling a medical debt is done in similar ways to settling any other debt.

You or someone working on your behalf contacts the doctor, hospital, or collection agency to negotiate an agreed-on amount for both parties. Experts advise starting this settlement process as soon as possible, preferably before the debt is turned over to a collection company. An honest and confident approach that works for everyone can lead to a negotiated agreement to pay the collections.

If you have a verifiable hardship, such as a disability that prevents you from working, you may be able to seek medical bill forgiveness. In this case, you petition the provider to forgive the debt entirely. Your provider will want to see proof in the form of tax returns and written documentation that shows you have no means to pay your medical bills.

You can also apply to nonprofit organizations such as the PAN Foundation and CancerCare for help with your medical bills. As we mentioned earlier, a medical credit card might be worth looking into. It contains highly inflated prices sometimes several times the actual cost to the hospital.

It is used by hospitals to negotiate actual price health insurance companies will pay for the service. However, some states are considering legislation that would make hospitals disclose their chargemaster to the state to be published online for the public.

If you are being charged the chargemaster price, ask what Medicare, TennCare and private insurance pays for the same service. Find out if the price you were charged was reasonable. Use these sources to compare prices:. Healthcare Bluebook — click here. Fair Health Consumer — click here.

When you pay with a credit card, you turn medical debt into credit card debt. This is important for several reasons:. Paying by a credit card means the healthcare provider has been paid so there is no incentive for the healthcare provider to negotiate your bill lower. Credit card companies charge late fees and usually charge higher interest rates.

You are less likely to be sued on medical debt than credit card debt. Credit card debt and medical debt are NOT treated the same by credit reporting agencies. Past due credit card bills affect your credit score immediately, medical debt takes 6 months to show up on your credit report.

Tip 4 — Medical debt is not treated like other types of debt…. Instead, they refer past due accounts to a debt collection company. These companies may decide to report your debt to the credit bureaus. Here is what you need to know. Federal law stops credit bureaus from putting medical debt on your credit report until it is past due for 6 months.

This gives you time to dispute the bill or negotiate a lower price with your healthcare provider. After 7 years, medical debt is removed from your credit report. Once your medical debt is paid, it is removed from your credit report.

According to IRS rules, non-profit hospitals must make reasonable efforts to determine if you are eligible for charity care before reporting your debt to the credit bureaus. But understanding how the system works may help you find a solution that gets at least some of your debt forgiven.

Generally, medical debt forgiveness is based on your income, household size and other factors. You can contact your medical provider for more specific qualification requirements.

Typically, hospitals and other health care providers will work with you to reduce your debt. You may also be able to negotiate a lower bill, set up a payment plan or qualify for assistance. There may even be formal programs you can apply for through charities or other organizations. But remember, even if you're actively making payments on your debt, your medical bills could still end up in collections if you don't pay on time or stick to your payment plan.

If you have medical debt, the best thing to do is to tackle it head on. Here are a few options you can consider. Depending on where you live, there may be laws in your state requiring hospitals to offer some form of need-based assistance. Here are a few key things to know:.

There are a range of nonprofit organizations and charities that may be able to provide financial assistance for your medical bills. Specific options may vary, depending on location and your situation, but here are some to consider:. If you're not sure where to start, check with your local hospital's social worker or billing department to see if they can provide guidance on resources that may make sense for your situation.

If you qualify, you may be able to get financial assistance with your medical bills through federally funded programs. These programs may include Medicaid for adults and as part of the Children's Health Insurance Program , Social Security and Medicare, as well as financial assistance programs from state and local agencies in your area.

To see what may be available, check with your local social services department or try dialing , a hotline that can help you get information on community resources.

If you have concerns about paying for unexpected medical expenses or paying down your hospital bills, consider the following:. Medical debt can be stressful, but knowing your options can help you find ways to reduce your costs or even have some debt forgiven altogether. Health care providers, specialized organizations and government resources are good places to start when you're looking for financial relief from medical bills.

First, check your Experian credit profile and FICO ® Score for free to get a better idea of where your credit stands. Banking services provided by CFSB, Member FDIC.

Most U.S. hospitals have medical bill forgiveness programs. These programs discount or waive hospital bills for people who can't afford them The Medical Debt Relief Act would ban all medical debt from appearing on credit reports and prohibit creditors from considering Americans The partnership with City Council will provide debt forgiveness for Columbus residents who were treated at any and all of the four area hospital

Credit limit increase

Credit limit increase

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Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

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The limit on your credit card is an important metric that can affect your purchasing ability and, indirectly, your credit score. While a higher credit limit allows access to larger borrowing amounts, it can also plump your credit score if you leverage an increase wisely.

Read on to learn how to increase credit limits on your cards, credit line increase pros and cons, good candidates for pursuing a credit increase, what to do if your request is denied and more. For traditional credit cards, issuers set your credit limit based on your past credit usage, existing available credit, income and other factors impacting your creditworthiness.

For secured cards , the limit is usually determined by the amount of your security deposit. Demonstrating successful management of your credit limit — like not maxing out cards or falling behind on payments, for example — increases the likelihood of securing more favorable terms and interest rates in the future.

Think the credit limit on your card is too low? Ask for a raise. Getting a higher credit limit is fairly straightforward, with four primary options available: You can contact your issuer online via the app or online portal, phone customer service, check for an issuer card offer, or apply for a new card that will bump your overall available credit.

Many issuers require you to complete a form, so expect to share updated information about your income or monthly housing expenses and specify the amount of additional credit you are seeking before applying. Similar to the online request process, you will need to provide the same fundamental information about your financial situation.

Be ready to justify why you are requesting a credit increase and prepare to offer more details on your earnings and expenses. It could take several days for your request to be approved, or you may be given the green light while on the phone. Keep an eye out for preapproved increase offers from your issuer, which could arrive via mail, email or when you log into your account.

These automatic increase offers provide a simple way to access more credit without having to jump through hoops — or undergo a credit check — since the issuer has already vetted your eligibility and creditworthiness.

Boost your odds of getting one of these offers by updating your income information within your credit card account online. Choose a credit card that offers you perks and rewards you can actually use, rather than one that will simply expand your available credit.

Try to avoid closing your existing card , which can reduce the length of your credit history and would reduce your available credit, which could lower your credit score. Requesting a more generous credit limit can be a smart step toward improving your overall credit, among other perks. Consider these benefits:.

Choice Home Warranty. National Debt Relief. LendingClub High-Yield Savings. Freedom Debt Relief. UFB Secure Savings. Select independently determines what we cover and recommend. We earn a commission from affiliate partners on many offers and links. Read more about Select on CNBC and on NBC News , and click here to read our full advertiser disclosure.

Subscribe to the Select Newsletter! Learn More. On Experian's secure site. Cost Free. Refinance your credit card debt If you suddenly find yourself drowning in credit card debt , you may benefit from refinancing it to a personal loan with a lender such as LightStream Personal Loans or PenFed — doing so can help reduce your debt utilization ratio to zero and consolidate your credit card debt into one place.

Annual Percentage Rate APR 7. Debt consolidation, home improvement, auto financing, medical expenses, and others. Debt consolidation, home improvement, medical expenses, auto financing and more.

Become an authorized user on someone else's account If you have a trusted family member or friend with a credit card that has a high credit limit, you may want to consider asking them to add you as an authorized user , which would allow the card to appear on your credit report and could help increase your available credit line.

Get credit for paying your bills on time Many of your bills — your rent, utilities or monthly Netflix subscription — aren't actually accounted for on your credit report so you won't get any official credit for paying them on time.

Results will vary. See website for details. How to sign up for Experian Boost: Connect the bank account s you use to pay your bills Choose and verify the positive payment data you want added to your Experian credit file Receive an updated FICO® Score Learn more about eligible payments and how Experian Boost works.

Read more. What is a good credit score and how to get one. A good credit score can save you thousands of dollars — here's how to check yours for free.

Typically, banks in the U. run their customers through a credit limit increase algorithm every nine to 12 months to proactively give limit boosts, Siddiqi says.

Your issuer might have all the data needed from those previous soft pulls. Requesting a higher credit limit might dampen your credit scores temporarily, but receiving one can bolster them.

Keeping that number down can be easier with a higher limit. This article was written by NerdWallet and was originally published by Forbes. On a similar note Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

Credit Cards. Requesting a Credit Limit Increase? Follow the writer.

Many credit card issuers allow their cardholders to ask for a credit limit increase online. Sign in to your account and look for an option to One way to do this is to simply call customer service and see if your income information has been updated. If it's all set, consider asking directly for a If you get denied a higher credit limit, we recommend waiting six months before trying again

Phishing scams prevention

Phishing scams prevention

They can do damage to your financial history and personal reputation that can take years to unravel. But if you understand how phishing works and how to protect yourself, you can help stop this crime.

In a typical case, you'll receive an email that appears to come from a reputable company that you recognize and do business with, such as your financial institution. In some cases, the email may appear to come from a government agency, including one of the federal financial institution regulatory agencies.

The email will probably warn you of a serious problem that requires your immediate attention. It may use phrases, such as "Immediate attention required," or "Please contact us immediately about your account. In a phishing scam, you could be redirected to a phony Website that may look exactly like the real thing.

Sometimes, in fact, it may be the company's actual Website. In those cases, a pop-up window will quickly appear for the purpose of harvesting your financial information. In either case, you may be asked to update your account information or to provide information for verification purposes: your Social Security number, your account number, your password, or the information you use to verify your identity when speaking to a real financial institution, such as your mother's maiden name or your place of birth.

If you provide the requested information, you may find yourself the victim of identity theft. Fight Back Against Identity Theft. Apply for a Free Annual Credit Report. Get answers to questions and file a complaint at HelpWithMyBank. Careers Quick Access Most Requested Bank Secrecy Act BSA Contact Us Community Reinvestment Act CRA Comptroller's Handbook Corporate Application Search Enforcement Action Search Financial Institution Lists Newsroom Third-Party Relationships: Interagency Guidance on Risk Management More OCC Websites BankNet.

gov Find resources for bankers. These websites obviously pass as legitimate sites, so Advanced Threat Detection solutions will need to actually scan and intercept each file before it is delivered or downloaded by the user, and files can be quite large so scanning speed can be an issue.

The task of protecting employees and organizations from phishing attacks is not an easy one, however there are key techniques that advanced threat detection security solutions must provide in order to sufficiently protect against these attacks from ever successfully entering end-user inboxes.

In brand impersonation phishing attacks, attackers impersonate targeted popular brands using the brand logo, brand signature, brand color pallet and language, and more.

An excellent example can be seen in this recent OpenSea phishing attack where you cannot see the difference between the malicious and actual site:. Image recognition is a key technology used to be able to validate if any URL is actually the legitimate site it is claiming to be.

Similarities that are difficult to identify using human eyesight are easily caught using algorithms that know the original brand and analyze the potentially malicious content e. an email, or a URL against it — not leaving it up to chance, if the user is able to spot the attempt or not.

Lexical analysis is another technique, helpful in determining if a URL is malicious or not. In Lexical analysis, the structure of the URL is analyzed to detect:.

A Reputation vector is the collection of parameters maintained on both the sender and recipient, derived from the data and metadata collected on them.

Information collected could be related to the legitimacy of the IP or the domain that the email is being sent from and more. The reputation vector will ultimately result in a score that will assist in making the decision if any type of content is malicious or not.

Attackers will use similar domain names that are visually very close to popular brands that they are spoofing. A standard approach to address spoofed domains is to use a database of known domains, for example: Coca Cola and Microsoft, and then counting the amount of differences.

While this technique can work in some cases, it can be challenging to identify more sophisticated obfuscations. Novel algorithms, available in advanced email security solutions, significantly lower the success rate of such evasion attempts.

A good example is usage of biological algorithms that have been found to significantly help identify such spoofing attempts. In addition to using the techniques mentioned above, and checking potential threats against threat intelligence sources, it is critical to dynamically scan all URLs, including the ones buried several levels deep inside the original content that was sent.

As cyber crimes escalate, companies need to fortify their cyber security systems even more substantially. Get ahead of these types of phishing by having a dependable email security provider, allowing your team to focus on what matters. We offer comprehensive email security that eliminates threats before they reach your employees.

Our end-to-end advanced cyber threat detection protects your enterprise against modern-day phishing scams. Stay on top of the latest email security trends through our other blog posts and resources. Want to know how we stop phishing at Perception Point? Contact us for a live demo. Anti-phishing involves comprehensive security measures implemented by individuals and organizations to guard against phishing attacks.

Examples of phishing attacks include: — Email phishing — a classic example of phishing where a malicious message that looks legitimate, lures victims to click a link, open a file or provide their valuable credentials; — Spear phishing — phishing targeted to a specific person that the attacker has prior knowledge of; — Whaling — in this type of phishing attack the attacker targets high-profile personas, such as C-level executives.

Provide Training to Your Employees 2. Utilize End-to-End Encryption 3. Conduct Simulated Phishing Attack Tests 4. Domain-Based Message Authentication, Reporting and Conformance DMARC 5. Employ Phishing-Resistant MFA 6. Cloud Email Security Solutions 7.

Using Dedicated Anti-Phishing Solutions. Average rating 4. Ratings: Be the first to rate this post. Solutions Back To Menu Solutions By Channel Read the company overview to learn more about how Perception Point provides unparalleled prevention of advanced cyber threats across all attack vectors.

Email Advanced Email Security Internal Emails Outbound Email Security Security Awareness Training. Web Browser Risky Access Sensitive Access. Cloud Collaboration Cloud Collaboration Apps Business Communication Cloud Storage. By Platform Microsoft Google Workspace Salesforce AWS S3 Zendesk.

Detection Technology AI Threat Prevention HAP — Next-Gen Sandbox Anti-Evasion Technology. Back To Menu Services Incident Response The X-RAY Reporting End User Reporting More Services. Technology and Alliance Partners Microsoft AWS Salesforce SentinelOne Crowdstrike. Back To Menu Resources Guides Guides BEC Browser Security BYOD Cloud Storage Security Cybersecurity Email Security Endpoint Security Incident Response Malware Phishing Ransomware Zero Trust.

Back To Menu Company About Us News Press Events Careers. Book a Demo Contact Us. What Is Anti-Phishing?

What is Anti-phishing? In this article. What Is Phishing Prevention? What are Common Types of Phishing Attacks? What are Ways to Prevent Phishing Attacks in Your Organization? How Anti-Phishing Technology Prevents Phishing?

Rate this article. How to Conduct a Phishing Attack in a 5 Easy Steps What is Clone Phishing? What is Trap Phishing? What is Barrel Phishing? What is Spear Phishing? Whaling vs. Techniques Used in 3 Types of Phishing What are Social Engineering Attacks and How to Prevent Them Quishing: How QR Code Phishing Works and 4 Ways to Prevent It Phishing Detection: Identifying Phishing Emails and Websites What Is a Browser-in-the-Browser BitB Attack?

Smishing vs. Phishing: The Key Differences What Is Phishing?

Simple Tips · Think before you act. Be wary of communications that implore you to act immediately, offer something that sounds too good to be true or ask for Phishing prevention has become essential as more criminals turn towards online scams to steal your personal information. We've learned to dodge spam emails 10 Ways to Avoid Phishing Attacks · 1. Know what a phishing scam looks like · 2. Get free anti-phishing add-ons · 3. Conduct security awareness

Improved credit score

Improved credit score

Searches are limited to 75 characters. Skip to main content. last reviewed: JAN 29, Will paying off my credit card balance every month improve my credit score? English Español. What are ways to get and keep good credit scores?

Don't see what you're looking for? Note that closing an account doesn't make it go away : a closed account will still show up on your credit report and may be considered when calculating your credit score. Ready to start improving your FICO Scores?

Join the myFICO Forums where thousands are on the same journey. Skip Navigation. Why FICO How It Works Pricing Education Credit Education Credit Scores What Is a FICO Score? FICO Scores vs Credit Scores FICO Scores Versions New FICO Scores How Scores Are Calculated Payment History Amount of Debt Length of Credit History Credit Mix New Credit How to Improve Your Score How to Build Credit Credit Reports What's in Your Report Credit Bureaus Inquiries Errors on Your Report?

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Our Products. One-time Credit Reports Be prepared for important transactions. How Can We Help. Credit Scores. Credit Reports. Estimate your FICO ® Score range Answer 10 easy questions to get a free estimate of your FICO ® Score range.

Estimate for Free. Get Access Now No credit card required. Managing your FICO Scores - open video. Managing your FICO Scores. You're entitled by federal law to a free annual credit report from each of the 3 major credit reporting agencies: Equifax ® , Experian ® , and TransUnion ®.

When you check your report, keep an eye out for anything amiss, such as:. If you do ever find incorrect information on your credit report, try to get the information corrected.

That typically means both filing a formal dispute with the credit reporting agency and pursuing the issue with the relevant creditor. Although the process might take some legwork, it can be worth it to make sure your credit history provides a fair and accurate picture of you as a borrower.

It can be easier to stay fit when you lead a healthy lifestyle. Similarly, it can be easier to maintain a good credit score when you keep other areas of your finances on track. To adopt a healthy financial lifestyle, consider:. Want to see how your financial fitness stacks up?

Consider getting a financial checkup or trying one of our budgeting and debt management calculators and tools. You can also learn more about strategies for paying down debt , and best practices for managing your credit cards.

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Send to Please enter a valid email address Your email address Please enter a valid email address Message. Thanks for you sent email. Key takeaways Building a strong credit history takes time. That's why it makes sense to adopt good credit habits even if you aren't planning to apply for new loans in the near future.

To help improve your credit, make sure to pay your bills on time and try to only use a portion of the total credit available to you.

Following a budget, keeping an emergency fund, and avoiding taking on too much debt in the first place can make it easier to care for your credit. Never miss a bill due date Paying your bills on time is the cardinal rule of maintaining a good credit score.

That way you can make your payments on time automatically. Registering for billing alerts. These can give you an extra reminder before your payment is due. Creating a DIY reminder system.

Set up recurring alerts on your calendar, or make sure bill emails stay at the top of your inbox until you've paid them. Subscribe now. Keep your balances low If you have revolving lines of credit, such as credit cards or a home equity line of credit, try to make sure you only use a portion of the total credit available to you.

Think twice before closing old cards Another contributor to your credit score is the average age of your credit accounts. Be cautious about new loan applications When you apply for a new credit card or loan, the issuer or lender will generally make a so-called "hard inquiry" into your credit.

Make sure a new card is the right move for you long-term before you apply. Avoiding hard inquiries if you'll be applying for a major loan soon. If you're planning to buy a house in the next year, it might make sense to avoid new cards altogether.

Being efficient when rate shopping. If you're shopping around for the best interest rate on a new loan like a mortgage , try to submit all your loan applications around the same time, like within a 1- to 2-week period.

Credit scoring models will generally only ding you once—even if you submitted multiple loan applications—if it's clear that you were rate shopping.

24 Tips to Improve Credit in · 1. Put Holiday Windfalls Toward Debt · 2. Set Up Automatic Bill Payments · 3. Pay Down Balances · 4. Handle Debt Remember: Improving your credit score takes effort and patience. There's no one-size-fits-all solution that will increase your credit score overnight 2. Pay your bills on time. One of the most important things you can do to improve your credit score is pay your bills by the due date. You can set up automatic

Credit repair for loan approval

Credit repair for loan approval

You have to negotiate this concession before repaying. Related: What Is a Personal Loan, Unsecured Loan, or Signature Loan? These three elements comprise a FICO score, the most commonly-used scoring model in the US.

Establish or reestablish a positive repayment history. Make your personal loan payment on time each month, and the big three credit bureaus will probably collect that data and incorporate it into your score. Positive repayment equals improved FICO scores. Make sure your lender reports to credit bureaus before borrowing.

Lower your credit utilization ratio. By consolidating credit card balances and zeroing them out with a personal loan, you reduce this ratio to zero. Improve your credit mix. Adding installment loans to your mix of credit can improve it if the debts you have now are mainly credit cards.

The FICO scoring model rewards consumers for having installment loans like auto financing and mortgages as well. Understand that applying for a personal loan triggers an inquiry on your credit report. This can temporarily drop your FICO by about five points.

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Some key points include: Consumers have three business days to cancel a contract without charge. If you want a costless way to tidy up your credit, here are four steps you can follow.

Request your credit reports: The first step in cleaning up your credit is to pull your credit reports from the main three credit bureaus — Experian, Equifax and TransUnion. You can receive weekly free credit reports from each credit bureau now through April 20, by going to AnnualCreditReport.

Review your credit reports: After you request your credit reports, look through each one and verify that the information listed is accurate.

Check for discrepancies with your personal information like name and address , account information like balances, credit limit, payment history and bankruptcy and collection data if your info was sent to a collection agency.

Dispute credit report errors: If you find any errors on your credit report, start a dispute as soon as possible. Check out our step-by-step guide on how to dispute a credit report error. Pay off any debts: Carrying a balance on your credit card can result in a lower credit score and high interest charges.

CreditWise® from Capital One is a free tool you can use to simulate how paying off debt will better your score. Learn how you can pay off credit card debt. Find the right savings account for you. What to know about paying taxes on sports bets Elizabeth Gravier.

Most lenders will want to see recent good credit history. The older the negative information, the less it impacts your credit score. It is also a good idea to pay off any delinquent accounts you may have, such as charge-offs and collections. Under the new FICO scoring method, doing so will improve your credit.

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You can attempt to pay off the accounts with a creditor in exchange for having the negative information removed from your credit report. If your level of debt is high compared to your income , the underwriter will not be sure if you can afford your mortgage. Your mortgage application can also be denied.

Work to bring down monthly debt payments to a maximum of 10 percent of your income to improve your chances of getting approved. Creditors want to see a history of on-time payments. If you have late payments on your credit report, work to lessen their impact by establishing good credit history today.

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Loan interest rate calculator

Loan interest rate calculator

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Just answer a few questions to get personalized rate estimates from multiple lenders. Variable rates are interest rates that can fluctuate over time.

The degree of variance is generally based on factors such as another interest rate, inflation, or a market index. There are different pros and cons to each, but the Interest Rate Calculator will only display the result as a fixed interest rate.

The interest rate for many types of loans is often advertised as an annual percentage rate, or APR. APRs are commonly used within the home or car-buying contexts and are slightly different from typical interest rates in that certain fees can be packaged into them.

For instance, administrative fees that are usually due when buying new cars are typically rolled into the financing of the loan instead of paid upfront. APR is a more accurate representation than the interest rate when shopping and comparing similar competing. On the other hand, annual percentage yield APY is the interest rate that is earned at a financial institution, usually from a savings account or Certificate of Deposit in the U.

For more information or to do calculations involving APR, please visit the APR Calculator. There are many factors that affect what interest rates people get on their mortgages and auto loans. Although these largely cannot be controlled, having knowledge of these factors may still be helpful.

In most developed countries today, interest rates fluctuate mainly due to monetary policy set by central banks.

The control of inflation is the major subject of monetary policies. Inflation is defined as the general increase in the price of goods and services and the fall in the purchasing power of money.

It is closely related to interest rates on a macroeconomic level, and large-scale changes in either will have an effect on the other. In the U. In general, one of their main goals is to maintain steady inflation several percentage points a year.

In an economy, as interest rates go down, more businesses and people are inclined to borrow money for business expansion and making expensive purchases such as homes or cars.

This will create more jobs, push up salary levels, and boost consumer confidence, and more money will be spent within that economy. On the other hand, if interest rates increase, consumer confidence goes down, and fewer people and businesses are inclined to borrow.

Based on this, the central bank uses the interest rate as one of the main tools to control the economy. The central bank typically lowers the interest rate if the economy is slow and increases it if the economy expands too fast. When the unemployment rate is high, consumers spend less money, and economic growth slows.

A personal loan calculator shows your monthly personal loan payments based on the loan amount, interest rate and repayment term. It also shows the total Enter a loan amount, an annual percentage rate, and a term in years or months to view your estimated monthly payment, number of installments and total interest Use our free mortgage calculator to estimate your monthly mortgage payments. Account for interest rates and break down payments in an easy to use

PP platform ratings and reviews

PP platform ratings and reviews

It can also ask customers to add UGC, like photos and videos, to their reviews to make them more authentic.

A big bonus of using Okendo is its partnerships with Google Seller Ratings, Facebook Marketing and retail networks like Bazaarvoice. Once it's plugged in, it's easier to grab company reviews and ratings from a ton of places your customers hang out.

Even small eCommerce vendors will probably outgrow the Essential plan. The silver lining is the small discount if you pay for an annual plan upfront! Yotpo is an online reputation management software that helps eCommerce brands collect and track reviews to draw in new customers.

What makes Yotpo different to some of the other customer review sites out there is AI. The reviews widget is powered by AI so feedback is automatically filtered to show online reviews that match the customer's needs. When a customer is shopping for a moisturizer to combat dry skin, Yotpo can highlight reviews showing other customers who have used a product with positive results.

The platform also integrates directly with eCommerce sites, vendors can use Yotpo to place buzzing reviews throughout the customer's shopping experience to win them over. Yotpo has a free plan but it's very limited. If you have a Shopify store and just need the basics, the platform's Product Reviews app may be up your alley.

You can customize how customer reviews appear on your site by switching up the layout, colors and text. Better yet, because your store is already on Shopify, customer reviews will automatically match your branding and color palette. But, and I stress this, Product Reviews has its downfalls.

It's only a good way to collect customer feedback if you are already using other Shopify apps like Mail and Email. And, weirdly, it's not compatible with all Shopify themes and, according to users, can throw up error messages. The platform has a built-in dashboard so you can manage online reviews and publish them straight to your site.

There aren't a ton of features, but you can do all the important stuff like approve reviews, send out requests to customers, and display product ratings directly to your site. But let's state the obvious: the dashboard is a little clunky, you can't respond to reviews directly, and the email review request features are limited.

This is a good choice for BigCommerce vendors who are just getting started with product reviews, but they may outgrow it as their store scales.

Without positive reviews and customers telling the world your products are worth it, you're fighting an uphill battle to attract new shoppers.

Reviews about your store and brand are great. But what customers really want to know is how well that shirt fits, or what kind of quality the material is on those new jeans you're stocking. And these reviews can only come from customers who have actually purchased the product. Just be aware that asking customers for website reviews will look completely different to a specific product review.

Here's how Kate Spade asks customers for reviews:. These types of reviews are to help the store get a broad idea about how customers feel towards the brand. Kinda like a health check to see if customers are vibing with their products and purchases. But if you want more specific reviews for a product, you need to send out a request like this email from Mountain Hardware:.

It focuses less on the brand and more on the product. These are reviews you can use directly on your site to prove to other shoppers that, hey… customers really love your products! You should also stick to this advice when you ask newbie customers vs VIPs for a review.

For example, if VIPs who have made repeat purchases may be able to give you more in-depth feedback about your store, like how easy it is to make a return or product quality.

A new customer won't be as invested in your brand, so they will probably only leave surface-level feedback like a star rating,. Yes, it's the oldest trick in the book. But offering incentives like a big fat discount, loyalty points or even free shipping is the fastest way to get customers to leave a review.

Along with the incentive, do the hard work for the customer so it's easy for them to leave you a review. We're talking about adding in CTAs that link straight to your product review page. Or better yet, embed the review form in your email so they don't have to leave their inbox.

This ratings and reviews email from Parade totally hits it out of the park:. They love to feel heard and important, especially when you ask for their opinion. That's why it's super important to respond to every review.

Yes—even when it's a negative one. It shows that you value their feedback and that you're committed to tweaking any products or parts of their customer experience that weren't so great.

We've designed our product reviews feature to make this step as easy as possible. Thanks to the reviews management dashboard, vendors can track reviews and will get a ping every time a customer leaves one.

You can then jump in and reply to reviews straight away:. Sendlane also tracks ratings so you always have a general idea of how happy customers are with a product.

And if you get a really great review, you can share it instantly with your target audience using the buttons on the dashboard. Want to generate more ratings and reviews for your eCommerce store and bring more customers to your yard? Use Sendlane Review Request Emails to reach more customers, collect reviews and build trust in your online products.

The best review platform for your eCommerce depends on your specific needs and goals. If you need a basic platform where customers can leave brief reviews or give a quick product rating, a platform like Shopify Reviews or BigCommerce Free might be enough.

However, Sendlane or Yotpo are better platforms if you want to manage your brand reputation using customer feedback collection, ratings, and review management tools. Reviews are the most authentic way to build trust and cement your brand's reputation.

You can use a ratings and reviews platform to engage with customers, respond to their reviews, and fix any issues they raise. This shows other potential customers that you're invested in their buying experience and will do your best to deliver the best products and shopping experience you can.

Over time, this will gradually rebuild the reputation customers have in your eCommerce store. Thank you! Your submission has been received! Featured Resources. Powerful Integrations. Subscribe to Sendlane Newsletter Stay up-to-date with the best email automation practices and latest marketing news.

Email Address Thank you! Article Quick Links. In any business, reputation is everything. That's where ratings and reviews platforms come into play. Think review sites like Yelp or TripAdvisor… for eCommerce.

Get the picture? But there are a ton more reasons that you should use a rating and reviews platform for your store: 🗣️ Helps spread the word about your brand. How can I rebuild my eCommerce reputation using a review platform? Share article link . Subscribe to our blog! Written by.

As the Sr. Joining Sendlane as the 6th employee and the 1st marketing hire, Caitlin has since worked diligently alongside the CEO to nurture the department into the high-performing and creative powerhouse it is today. Related articles. Download Now. Register Now.

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Klaviyo Sendlane vs. Why Sendlane? For this reason, cultural distance among service providers and service customers plays apparently a considerable and complex role in the online environment. A rich body of literature has examined online consumer behavior and the related eWOM from a cross-cultural perspective in different verticals and industries, including retail, banking and the mobile telecommunication sector e.

Yun et al. Seminal studies on the effects of cultural factors on consumer perceptions of hospitality services are mainly aimed at comparing Eastern vs Western consumers see Mattila , ; McCleary et al.

Nevertheless, the impact of cultural factors on the online evaluation of hotel services remains relatively unexplored theoretically and empirically, except for a few recent studies. One group of studies Liu et al.

Another study Gao et al. online ratings after hospitality service consumption? More specifically, we retrieved and analysed the overall population of online reviews i.

more than 0. To address the question above, the paper is structured as follows: in Sect. In Sect. The development and consolidation of digital technologies over the last 40 years has profoundly affected consumer behaviors and marketing channels.

With the widespread adoption of the Internet, consumers increasingly compare products, services, transport methods, and payment alternatives based on the information available, for free, through search engines and company websites Key Digital platforms and, more specifically, online review platforms modify the way consumers interact with companies and brands, and with each other Breidbach et al.

UGC can be in the guise of text, audio, or video Ek Styvén et al. One form of UGC is represented by online reviews and has become the object of eWOM studies.

Hennig-Thurau et al. Online consumer reviews are mechanisms enabled by digital platforms through which users rate usually with a different number of stars and express their written judgment and evaluation on previously purchased items in order to support others during their buying process Appelt In this context, consumers who read consumer reviews may consider a variety of factors before making their purchase decisions, including review valence i.

the numerical rating or score of the review , review variance i. the degree of consensus and consistency among the ratings of a specific online offering Langan et al. In the travel, tourism and hospitality sector, eWOM and online reviews play a critical role as consumers use eWOM before the purchasing process of risky services whose attributes cannot be evaluated easily ex ante Gretzel and Yoo We refer to Schuckert et al.

However, we could classify online review studies roughly into two macro-clusters Cantallops and Salvi : those looking at the drivers of eWOM and those examining the impact of eWOM.

Within the former cluster, some studies have explored and examined the determinants of online review features, including trust Filieri et al. Within the latter cluster, works have analysed the impacts of eWOM from online reviews on the performance of hospitality firms Mariani and Visani ; Yang et al.

In several of these studies it has been argued that online review ratings are a proxy not only of service quality but also of online satisfaction Engler et al. Borghi and Mariani ; Limberger et al. However, not many studies have tried to contribute to the area at the intersection between eWOM and consumer cultural differences in hospitality services.

As e-commerce continues to expand globally, triggered by the development of digital technologies, and consumers become increasingly dependent on the opinions engendered by current online customers, one challenge for firms that cater to international customers is to determine if, and to what extent, national culture and, therefore, cultural differences is reflected in eWOM.

Consequently, national culture is a key aspect to investigate further; indeed consumers from distinctively different cultures might evaluate the very same economic offering, be it a product or service, differently.

Previous research has shown that in social systems characterized by uncertainty avoidance and high collectivism it is likely that consumers might be more motivated to help their peer consumers and seek information from them.

Chau et al. counterparts who have a utilitarian approach to the information and the medium. Singh et al. ones, to accommodate different degrees of uncertainty avoidance. Consistently, Yun et al. Tang finds that within individualistic cultures, positively valenced reviews on products sourced from developed countries are given less attention than reviews on products from developing countries and, in countries characterized by high power distance, negative reviews on the price of products from emerging markets have positive effects on sales.

Deploying restaurant consumption data, Bagozzi et al. Furthermore, studies conducted by Yamagishi et al. Schumann et al. In contrast, shoppers from low uncertainty avoidance cultures are more willing to take risk and may totally disregard eWOM.

In hospitality marketing literature, only a handful of studies have analysed the role of national culture on eWOM in online settings e.

Mariani et al. Below, we focus on the relevant literature at the intersection between eWOM and cultural studies in hospitality to shape and formulate our hypothesis. Starting in the s, cross-cultural analyses have been conducted aimed at comparing evaluations, attitudes, and expectations of hotel customers from Western countries vs.

hotel customers from Eastern countries e. Chen et al. The majority of these were developed leveraging research design, such as experiments or field studies which included a relatively small number of hotel customers to , from a few nationalities typically two and, more rarely, three.

Originally, Hofstede identified four distinctively different cultural dimensions: power distance PD , individualism IDV , masculinity MAS , and uncertainty avoidance UA. Subsequently, he complemented these dimensions with long-term orientation LTO and indulgence IND Hofstede Additional research into Asian contexts and cultures was carried out a decade later and allowed Hofstede to identify two additional dimensions: long-term orientation LTO and indulgence IND Hofstede et al.

Long-term orientation LTO values societal change, whereas individuals complying with norms and traditions are prevalent in short-term cultures. These six cultural dimensions have been operationalized by means of indices that cover a large number of countries, with the exception of the last two dimensions i.

LTO and IND , coverage of these is less extensive. The theoretical conceptual framework has been the object of several criticisms over time e. McSweeney , however, today most social science scholars still adopt it. Also, it has been embraced by marketing scholars and hospitality marketing researchers to contextualize and interpret their findings.

For example, Mattila finds significant discrepancies in the assessment of hospitality services across Western vs. In their study of Japanese guests, Reisinger and Turner underline that Japanese customers are interested in personal and extended interactions.

Crotts and Erdmann find that consumers from feminine societies are more tolerant of service failures, while Reisinger and Crotts shed light on the differentiated reactions of consumers within nations.

Until now, researchers have disregarded the role of cultural factors in the online assessment of hospitality services, with the exception of a few studies e. Gao et al. For instance, Gao et al. However, previous studies have not considered explicitly the cultural distance construct and variable to understand how the cultural distance between the hospitality service providers and customers might affect online ratings.

Rather than taking into account a specific cultural dimension e. As service interactions are relational in essence Grönroos , we argue that cultural distance is an appropriate metric. We expect that the greater the cultural distance between service customers and service providers, the higher the chance of cultural gaps and differences and, thus, the higher the likelihood that cultural differences might translate into lower levels of satisfaction in online settings.

Consequently, we hypothesize that:. online ratings of the services given by customers. To warrant the generalizability of our findings in terms of covering cultural distances between services providers and multiple international services customers, this study was conducted in the third most visited destination city worldwide: London, United Kingdom.

London belongs to one of the top ten countries for inbound international tourism flows UNWTO and is the most visited destination in terms of international tourism flows European Cities Marketing Both a leisure and a business destination, London was chosen as it exhibits a very large share of international guests, with three out of four overnight stays involving an international traveller in European Cities Marketing The Booking.

com population data retrieved for the analysed timeframe reflects this distribution; The U. capital, London displays a heterogeneous mass of international tourists, with around nationalities visiting. In this work, we focus on almost , hotel service encounters reflected in online reviews that we retrieved as explained in the following data section.

The online review data of Booking. Being a popular e-commerce platform for hospitality services, Booking. com encompasses the highest share of certified online reviews globally Mariani et al. com for eWOM research in hospitality e. Data was retrieved by means of a crawler developed in the Python programming language; this scraped data for the overall population of online reviews ORs related to London-based hotels over the timeframe January to January Firm level and online review level data was collected.

For the sampling process, using the data scraping an automated process through which the crawler mimics human behavior when looking for accommodation online in London via Booking. com , we initially obtained a total of 1,, online reviews.

We then retained only those reviews that did not display any missing values. In other words, we retained online reviews for which we had complete data for the following sets of variables: 1 country of origin; 2 Hofstede cultural dimensions; 3 type of trip; 4 presence of text; 5 length of stay.

For instance, in those cases where the country of origin COO was missing, or the COO was not covered by the Hofstede dimensions indices, it would have not been possible to compute a cultural distance measure. As such, from the original sample overall population , we retained a total of , reviews for which data were complete.

Reviewers were from different countries. As we do not use a survey method but build on a big data and data science approach George et al. That said, the numerosity of the subsamples of reviews by COO is largely consistent with the size of the inbound tourism markets to the UK Visit Britain and the reviews cover all of the London-based hotels listed on Booking.

com at the time of the data scraping. The hotel online ratings is the dependent variable of the study: they vary in a range of 2. The main independent variable encompasses the cultural distance among the service provider and the countries of origin of the guests.

The cultural distance variable assumes high positive values when service customers exhibit significantly and systematically different cultural traits if compared with service providers; on the other hand, it displays low values close to zero when service customers display approximately the same cultural traits as the service providers.

In the footsteps of Gao et al. com reviews for the destination under analysis. Furthermore, we considered other variables related to reviewers such as the degree of online identity disclosure i.

a dummy variable distinguishing solo travellers vs. other types of travel groups. Last, we deployed several controls at the firm level, covering hotel category i. the number of stars and whether the hotel company belonged to a chain or not. The description for each variable is found in Table 1 :.

The descriptive statistics are presented in Table 2. Overall, the variables display values of kurtosis and skewness in line with normality assumptions based on non-parametric kernel density estimators.

The focal research hypothesis was tested adopting multivariate ordinary least squares OLS regressions. The latter ones are appropriate when variables show multivariate normality, like in the case examined in this work. We opted for a multivariate ordinary least squares OLS over a logistic model Harrell as, unlike the ratings on TripAdvisor, the ratings on Booking.

com assume a very high number of possible values between 2. com rating system Mariani and Borghi ; Mellinas et al. However, we adopted the logistic model to validate our findings that are robust across the two methods.

Our model is specified as follows:. Our focal dependent variable, i. gender , behavioral features e. level of online identity disclosure , as well as factors pertaining to the trip e. length of stay, purpose of trip and travel companions. Therefore, our focal research hypothesis is not rejected.

This finding suggests that cultural distance is relevant in services encounters in general and hospitality services encounters in particular, and that the country of origin of international customers is a relevant predictor of their online behavior and online ratings.

This result corroborates findings in the international marketing literature e. Cleveland et al. As far as the reviewer level variables are concerned, the absence of identity disclosure, especially age for which there are many missing values , seems to negatively influence overall review valence.

In other words, online international customers that do not disclose their age or gender give lower ratings then those who do. The described findings are in contrast with previous research Gao et al. Our interpretation of our results is that reviewers not revealing their identity may feel less constrained than their counterparts in their online evaluations process and, therefore, they could shape their opinions with more freedom and objectivity, thus being potentially conservative in their online review ratings.

Lastly, we have controlled our results for hospitality firm variables such as hotel class and chain. Based on a large dataset encompassing more than 0.

com online reviews produced by hospitality customers visiting the U. There are three key findings that emerge from the empirical analysis. Firstly, the greater the cultural distance of the international service customer and provider, the lower the international customer online review evaluation i.

online rating of hospitality services. Secondly, as online evaluations can be seen as a proxy of online customer satisfaction Engler et al.

Consistently, digital platforms call for a more nuanced appreciation of international marketing theories and practices Cleveland et al.

Third, the magnitude of the coefficients associated with the service provider category, which is a proxy of the quality of the hospitality service, appears to be still significant. However, the full model specification, including cultural factors see Model 2 in Table 3 , help explain a higher share of the variance of online ratings.

Furthermore, we find that international online customers not disclosing their personal information online, probably feel less constrained and, therefore, free to give more conservative evaluations to the reviewed services.

As such, model specifications, including both reviewer level and reviewed service features, represent the way ahead to achieving a more rounded understanding of online international customer satisfaction with services. Certainly, cultural differences between service providers and customers, as well as other reviewer level variables such as identity disclosure and reviewing behaviors, will need to be embedded in future model specifications.

This work makes multiple contributions to many research streams within marketing literature. First, it contributes to the research stream at the intersection between electronic word-of-mouth eWOM , digital platforms and big data.

To the best of our knowledge, this is one of the first attempts to leverage on large volumes of digital data streams produced in real time and in a variety of forms i. big data Pigni et al. We contribute to an emerging line of research that makes use of big digital data analytics from digital platforms to shed light on customer satisfaction with services in international settings e.

Mariani and Predvoditeleva ; Mariani et al. Along the lines of Nambisan and Nambisan et al. These new forms of connectivity affect not only how global and local service providers internationalize their value propositions, but also how they build market knowledge based on digital data analytics Davenport , ; Mariani and Fosso Wamba ; Mariani , and create and deliver value to global customers.

Second, this work contributes to cross-cultural and international marketing studies e. de Mooij and Hofstede in online settings Gao et al. We analyse to what extent cultural distance among international services customers and providers in hospitality affects online customer ratings and behaviors.

The empirical results indicate that online behaviors are partially culturally dependent, offering a clear explanation of the discrepancy in online evaluations of similar hospitality services by hotel guests from different cultural backgrounds, based on the distinctively different cultural values they intentionally or unintentionally share with the national group they belong to.

Third, this study contributes to international marketing theory. These similarities seem to strengthen the statement that, despite globalization dynamics and the likely emergence of convergent consumer behaviors across countries McLeod , national identities are becoming more critical as it is likely that consumers of different socio-cultural groups construct and recognize a specific social identity that affects their online behavior.

Furthermore, our findings corroborate international market segmentation theory in general Cleveland et al. From a theoretical point of view, our work suggests that international hospitality customers are not homogeneous, but rather consist of distinctively different segments as our cultural distance metric suggests.

The underlying cultural dimensions might represent segmentation variables that could generate further insights, rather than a mere country of origin segmentation that is used sometimes in practice by hospitality marketers Cvelbar et al. Therefore, marketing segmentation research in hospitality services Dolnicar , especially if carried out in online settings, would enormously benefit from taking into account human values Rokeach , and especially cultural values Hofstede The present work presents multiple practical implications for the following groups of individuals: i international service providers in the hospitality sector and, more generally, practitioners and managers in services industries; ii developers, administrators and managers of online review platforms and digital platforms in general; iii international customers of hospitality services.

International service providers in the hospitality sector and, more generally, managers in the services industries could progressively combine traditional techniques of evaluating service quality including the SERVQUAL Zeithaml et al.

Hence, triangulation of small and big data from online reviews Mariani et al. As such, it would be recommended to segment societal groups of customers by cultural dimensions.

Fourth, hotel managers should pay more attention to those national groups that display the higher cultural distance vis-à-vis that of the hotel.

As far as developers, administrators and managers of online review platforms are concerned, the findings of this research are extremely relevant for digital platforms that increasingly operate in multi-country and international environments, and that have to interact with multiple national cultures that could be distinctively different vis-à-vis the culture of the service providers.

First, the findings of this work are particularly germane for e-commerce websites e. Expedia and Booking.

com as they have to optimize continuously the algorithms underlying their recommender systems to boost bookings on their websites and, ultimately, generate higher revenues.

Second, online travel review platforms such as TripAdvisor its reviews are not certified; reviews are not related to real stays and anyone can post a review on the website , could work on algorithms similar to those used by Booking. com or Expedia that filter reviews and, therefore, help international customers to identify useful reviews based on a similar country of origin.

This is, to a certain extent, one of the major issues of online reviews as the residence of the reviewer as well as other identity information is often missing. As far as implications for international customers are concerned, OTAs such as Booking. com should keep on investing in mechanisms enhancing the interaction between online consumers belonging to a common national or social group Zeugner-Roth et al.

The present work has added to multiple research streams within the international marketing body of literature, with emphasis on cross-cultural studies of consumer behaviour in online settings and to the nascent eWOM research stream pertaining to the impact of cultural distance on online reviews, hence contributing to eWOM research in the services sectors and, more specifically, travel, hospitality and tourism services Cantallops and Salvi cultural traits, demographics and the features of services providers e.

First, leveraging a sample of more than 0. Second, as online evaluations can be seen as a proxy of online customer satisfaction Engler et al. Therefore, this result seems to suggest that online environments shaped by digital platforms and technologies, call for a more nuanced appreciation of international marketing theories and practices Cleveland et al.

Of course, this contribution might be embedded in the wider debate revolving around the extent to which online ratings are correlated with actual overall customer satisfaction with the service and its attributes e.

Limberger et al. Third, the magnitude of the coefficients associated with the service provider category, which is a proxy of the quality of the hospitality service, still appears significant.

However, when including cultural factors in the model specification, the model explains a higher share of the variance of online ratings. For instance, in our study we find that when online international customers do not disclose their personal information, they are more likely—due to the higher anonymity of their online evaluation—to be less constrained and therefore feel free to give more conservative evaluations to the reviewed services.

As such, model specifications including both reviewer level and reviewed service features represent the way ahead to achieve a more rounded understanding of online international customer satisfaction with services.

Certainly, cultural differences between service providers and customers, as well as other reviewer level variables such as identity disclosure and reviewing behaviors will need to be embedded in future model specifications.

Our work has contributed to the development of the marketing literature in multiple ways. First, it has contributed to an emerging line of research that makes use of big digital data analytics from digital platforms to shed light on customer satisfaction with services in international settings e.

Accordingly, we contend that digital ecosystems and platforms are partially reshaping international marketing theories as they enable novel forms of digital connectivity. Second, this study has contributed to the emerging research stream of cross-cultural and international marketing studies in online settings e.

Third, this work has contributed to international marketing theory by suggesting that, despite globalization dynamics and the likely emergence of convergent consumer behaviors across countries McLeod , national identities are, however, becoming more critical.

We suggest that international hospitality customers are not homogeneous, but rather consist of distinctively different segments, as our cultural distance metric suggests. Though this work offers both valuable theoretical contributions and practical and managerial implications, it displays a few limitations.

Firstly, we might enhance the model specification by making it more comprehensive through the inclusion of variables such as the submission device deployed to write the review Mariani et al. Moreover, the model might be compared to other models where the dependent variable would be the ratings of the different hospitality service attributes such as location, cleanliness, staff, etc.

com data cannot be scraped solely based on APIs. Second, future research might try to examine if the findings hold regardless of the online review platform deployed for instance, comparing Booking. com reviews with Expedia and Tripadvisor reviews.

Third, in order to further generalize our findings, it would be interesting to extend our study beyond London and consider other less attractive and less known destinations to understand whether there are sector specificities that could yield differentiated results.

Indeed, we might argue that hospitality services are rather globalized and internationalized, but not necessarily this would hold for other services such as medical or financial services.

The results match with recent research that measures the impact of cultural orientations on the deployment of electronic word of mouth of customers Nath et al. Finally, future studies might put together online review ratings and text analytics to shed light on the extent to which text analytics vary across cultural groups and if they interact with online review ratings across cultural groups.

Allik, J. Individualism-collectivism and social capital. Journal of Cross-Cultural Psychology, 35 1 , 29— Article Google Scholar. Appelt, L. Literature review: Online consumer product ratings and reviews.

Interaction and Interface Design , 1— Ayeh, J. Predicting the intention to use consumer-generated media for travel planning. Tourism Management, 35, — Bagozzi, R. Cultural and situational contingencies and the theory of reasoned action: application to fast food restaurant consumption.

Journal of Consumer Psychology, 9 2 , 97— Borghi, M. Service robots in online reviews: Online robotic discourse. Annals of Tourism Research , Breidbach, C. Beyond virtuality: from engagement platforms to engagement ecosystems. Managing Service Quality, 24 6 , — Cantallops, A.

New consumer behavior: a review of research on eWOM and hotels. International Journal of Hospitality Management, 36, 41— Casadesus-Masanell, R. When does a platform create value by limiting choice? Chau, P. Cultural differences in the online behavior of consumers. Communication of ACM, 45, — Chen, R.

A review of the literature on culture in hotel management research: what is the future? International Journal of Hospitality Management, 31 1 , 52— Cleveland, M. Identity, culture, dispositions and behavior: a cross-national examination of globalization and culture change.

Journal of Business Research, 69, — Cronin, J. Measuring service quality: a reexamination and extension. Journal of Marketing, 56 3 , 55— Crotts, J. Managing Service Quality: An International Journal, 10 6 , — Cvelbar, L.

Which hotel guest segments reuse towels? Selling sustainable tourism services through target marketing. Journal of Sustainable Tourism, 25 7 , — Daughtery, T. Exploring consumer motivations for creating user-generated content. Journal of Interactive Advertising, 8 2 , 16— Davenport, T.

Strategy and Leadership, 42 4 , 45— How analytics has changed in the last 10 years. Harvard Business Review, 28, Google Scholar. de Mooij, M. Cross-cultural consumer behavior: a review of research findings. Journal of International Consumer Marketing, 23, — Dibb, S.

Market segmentation: diagnosing and treating the barriers. Industrial Marketing Management, 30 8 , — Dolnicar, S. Journal of Travel Research, 42 3 , — Engler, T.

Understanding online product ratings: a customer satisfaction model. Journal of Retailing and Consumer Services, 27, — European Cities Marketing. Dijon: ECM. Ek Styvén, M. This is my hometown! Journal of Advertising. Filieri, R.

Why do travelers trust TripAdvisor? Antecedents of trust towards consumer-generated media and its influence on recommendation adoption and word of mouth.

Tourism Management , 51 , — Gao, B. Follow the herd or be myself? an analysis of consistency in behavior of reviewers and helpfulness of their reviews.

Decision Support Systems, 95, 1— Tourism Management, 65, — Gensler, S. Managing brands in the social media environment. Journal of Interactive Marketing, 27 4 , — George, G. Big data and management. Academy of Management Journal, 57 2 , — Gretzel, U. Use and impact of online travel reviews.

Gretzel Eds. Grier, S. Noticing cultural differences: ad meanings created by target and non-target markets. Journal of Advertising, 28 1 , 79— Grönroos, C. A service-orientated approach to marketing of services. European Journal of Marketing, 12 8 , — Harrell, F.

Regression modeling strategies: with applications to linear models, logistic and ordinal regression, and survival analysis 2nd ed.

Cham: Springer International Publishing. Book Google Scholar. Hennig-Thurau, T.

See the latest verified ratings & reviews for WPS Office. Compare real user opinions on the pros and cons to make more informed decisions The Google Play In-App Review API lets you prompt users to submit Play Store ratings and reviews without the inconvenience of leaving your app Different schemes of rating are used on online platforms, and most of the empirical studies use reviews, scored or rated in terms of satisfaction by

Child Support Modification

Child Support Modification

You'll need to request this review unless the agency is already handling your child support case—for instance, because the family is receiving public assistance or the recipient has asked the agency for help establishing a child support order outside of the divorce context or collecting court-ordered support.

Parents are automatically entitled to an agency review of their child support order every three years. But you might be eligible for a review sooner than that if you've experienced a substantial change in circumstances during that time.

If you aren't already receiving services from the agency, you'll have to apply for those services before requesting a review of your support order. You can find more information and local agency contacts in this state-by-state guide to changing child support from the federal Office of Child Support Enforcement.

Once you get to the local child support agency's website, you'll usually find an FAQ and a link to apply for services. Both parents will need to provide current financial information and documentation for the agency's review.

If the review results in a recommendation to change the existing child support order, the agency will typically handle the modification request directly with the court. But both parents will have the opportunity to object to recommendation and the request. Either parent may file a motion a formal request in court to modify child support.

Generally, you'll file the modification motion in the same court that issued the existing child support order. But if the custodial parent has moved out of state with the child since then, you should speak with a lawyer to find out how to proceed. With your modification motion, you'll need to explain why you believe there's been a qualifying change in circumstances since the date of the existing support order.

Here again, both parents will be required to submit financial affidavits and supporting documentation about their current income, assets, debts, and other expenses. The court will schedule a hearing on the modification request.

Both parents will receive notice of the hearing date, and they'll have the right to appear and argue for or against the requested change more on that below. The judge will consider all the evidence, including the parents' testimony, before issuing a decision.

Either parent may appeal that decision within a certain period of time. Both parents should receive a copy of the judge's decision, and either of them may appeal within a certain period of time. If you've requested an agency review of your child support order, and the agency has recommended a change in the order, you're well on your way to winning a support modification.

That's because judges tend to follow the agency's recommendation, unless the other parent provides compelling reasons otherwise. The judge knows that the agency has considered all of the necessary financial information and has applied the state's rules in making its recommendation.

Without an agency review, if you want to get a child support modification, you'll need to convince the judge that the change in circumstances isn't temporary and is substantial enough to warrant a change under the state's current child support guidelines.

When you've requested a reduction in support based on your income loss, you'll also have to provide evidence that the change wasn't voluntary. For instance, you might provide letters from your doctors and other evidence to back up your claim that you were forced to quit a job that was endangering your physical or mental health.

When the custodial parent is seeking to increase your child support payments, you'll also need strong evidence to counter that request.

For example, if the request is based on an increase in your earnings, you could show that the change is temporary, such as a one-time bonus or overtime pay that's not going to be a regular feature of your job. You could also show that the bump in earnings isn't substantial enough to justify a change in support.

Remember that the judge will examine both parents' finances when considering a modification request. So you might be able to argue that the support amount shouldn't go up—or maybe even should be lower—because the custodial parent has inherited money or has also seen an increase in income.

There's one thing you should not do to fight a request to modify child support: refuse to provide accurate and complete information about your finances. There's no need to make regular reports about any changes to your income—unless your child support order includes that requirement. But anytime an agency is reviewing a child support order or the other parent has filed a motion to modify support, you must respond to the request for information and supporting documents about your finances.

If you refuse—or if the other parent shows that the information you've reported is misleading or incomplete—the judge or agency may " impute" income to you. Parents who are seeking a change in child support are often dealing with financial struggles—which means they don't have the money to hire a lawyer to represent them in court.

Obviously, the easiest way to avoid legal fees in connection with a modification request is to reach an agreement with the other parent.

Short of that, however, you also shouldn't need an attorney to get an agency review of your existing order. These agencies are set up with the goal of helping parents deal with child support issues without having a pay for lawyers to represent them, and they typically provide accessible procedures for objecting to their recommendations.

Also, as we mentioned above, the agencies will often handle filing a modification request in court after they've conducted a review and concluded that a change in support is warranted.

Even if you need to file a modification request on your own, state courts often provide simplified procedures and forms, so at least some parents should be able to handle these proceedings on their own.

You can usually find this information online through your state's court system or self-help center. However, you could be at a serious disadvantage without a lawyer's help in certain situations, including when:. If you're faced with these or any other circumstances that could complicate your modification case, you should consider at least speaking with an experienced family law attorney who can evaluate your case and advise you on how to proceed.

Copyright © MH Sub I, LLC dba DivorceNet ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site.

The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.

Your use of this website constitutes acceptance of the Terms of Use , Supplemental Terms , Privacy Policy and Cookie Policy. Divorce Mediation Online Divorce. HOME SEARCH NYCourts. You can use this program if: If you already have a support order signed by a judge. Information Checklist You will need the following information with you when you use this program: The name and address of the other parent.

A copy of the support order. The names, addresses and birth dates of the children. About DIY Forms This program is not e-fileable. Your papers must be printed, then filed at the Court. Who Can Use These Programs?

You can use DIY Forms if: you're a court user and you don't have a lawyer; you're a legal services provider; you're a pro bono lawyer.

Significant Change in Circumstance. This can mean several things. For instance, maybe the parent paying the child support has lost their income or fallen sick and is also paying medical bills. Or, their income has also increased.

Three years have passed. If three years have passed since the court issued a child support order, either parent can file for modification.

It can be an increase or decrease modification. How Levitsky Law Firm PLLC Can Help There are laws that dictate how child support needs to be paid and circumstances that can lead to modification. Get Started Today. Related Blogs. Is NY a custody state? In the realm of divorce and child custody, a common question that arises is whether New York is a custody state.

Discover which reasons to modify child support are valid in New York. Learn about which circumstances the court would consider to modify the support order No, only Family Court, based on a modification petition, can change the amount that you owe in child support. “Start the Support Modification Program.” You'll Frequently asked questions about modifying child support orders in New York

Credit score action plan

Credit score action plan

FICO scores are the three digits that tell lenders how likely you are to pay back the loan on time. A score of is considered excellent; is very good; is good; is fair and anything below is poor.

You can increase your score using the steps shown above, but they are not necessarily easy. If that prospect bothers you, blame William Fair and Earl Isaac, the founders of the credit scoring system. They were the mathematical engineers who devised the first credit-monitoring system in Fair, Isaac and Company was eventually shortened to FICO, and it is the go-to information source for the three major credit-reporting agencies: Equifax, Experian and TransUnion.

Only credit-related matters are considered. Your credit card history, mortgages and public records like bankruptcies, foreclosures, wage attachments and liens. Their importance diminishes over time, but bankruptcies stay on your score for years.

Payment history accounts for thirty-five percent of your score. Did you pay your credit account on time? That includes the total figure you owe and what percentage of your credit limit you use.

Having high balances shows you might be overextended. Some people believe they have to carry a balance to build credit. This is a myth. Paying a debt off early will help your credit score.

Carrying a balance will hurt it. The credit bureaus smile when they see someone has reliably used credit for a long time.

The combination of credit cards, installment loans, mortgages and other credit payments. As long as you make on-time payments, the more types of credit you have, the better.

Everybody has to start somewhere but opening several new credit accounts in a short period is a red flag.

The average length of time you have had your credit cards matters. Yes, you can consolidate your debt payments with bad credit by pursuing a debt consolidation alternative like a nonprofit debt management program.

Good credit will save you money by lowering interest rates when you want a mortgage or car loan, but it could also help you land a job or apartment. After a short sale, what kind of hit can I expect on my credit score, and about what would be the recovery time for my credit score?

Joey Johnston has more than 30 years of experience as a journalist with the Tampa Tribune and St. Petersburg Times. He has won a dozen national writing awards and his work has appeared in the New York Times, Washington Post, Sports Illustrated and People Magazine.

He started writing for InCharge Debt Solutions in How to Increase Credit Score. Choose Your Debt Amount. Call Today: or Continue Online. Explore your Options. Seven Steps to Improve Your Credit Score The fastest way to improve your credit score is to stop using your credit cards and pay down the balance on each and every one.

Here are some other steps that can improve your credit score: 1. Monitor Credit for Errors Monitor your credit report to make sure there are no inaccuracies that could reduce your score.

Limit Credit Applications Do not apply for another credit card unless you really need one. Work Out Payment Agreements If you have overdue bills, bargain with the creditor to see if they will accept partial payments.

Ask for a Higher Credit Limit Call your credit card company and request a higher spending limit. How Is Your Credit Score Calculated? Consolidate Debt With Bad Credit Yes, you can consolidate your debt payments with bad credit by pursuing a debt consolidation alternative like a nonprofit debt management program.

More about bad credit How To Dispute A Mistake On My Credit Report? Will Multiple Credit Inquiries Hurt My Score? Does Paying A Loan Off Early Help Your Credit Score? Why You Need Good Credit Good credit will save you money by lowering interest rates when you want a mortgage or car loan, but it could also help you land a job or apartment.

More about why you need good credit Will My Credit Score Be Damaged If I Close Several Credit Card Accounts At Once? Fair Credit Reporting Act: Common Violations and Your Rights Credit Building Loans: What Are They, How to Get One and Do They Work How Will A Short-Sale Affect My Credit Score?

More about what can affect your credit score Can Lenders See My Past Bankruptcy? Protecting Your Identity How to Raise Your Credit Limit. Table of Contents.

Add a header to begin generating the table of contents. The more experience your credit report shows with paying your loans on time, the more information there is to determine whether you are a good credit recipient.

Credit scoring formulas look at your recent credit activity as a signal of your need for credit. If you apply for a lot of credit over a short period of time, it may appear to lenders that your economic circumstances have changed negatively.

If you spot suspected errors, dispute them. If you have old credit card accounts you are not using, keep an eye on them to make sure that an identity thief is not using them.

Tip: If you are new to credit, consider getting a product designed to help you establish and build credit. Financial institutions have developed an array of products and services, such as secured credit cards and credit builder loans, tailored to helping consumers new to credit to establish and build credit.

Searches are limited to 75 characters. Skip to main content. last reviewed: SEP 01, How do I get and keep a good credit score? English Español. There is no secret formula to building a strong credit score, but there are some guidelines that can help.

Pay your loans on time, every time One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders.

Missing The best way to improve your score is to pay your bills on time every month. Pay at least the minimum due well in advance of the due date. Being even one day Your personalized action plan powered by Experian includes clear steps you can take to help improve your score—including but not limited to paying off an

Credit card debt help

Credit card debt help

If you're struggling with debt, "it is always a good idea to seek the advice of a financial professional," says Yono. An expert "may even offer you alternate solutions that are more beneficial once they get to know you and your specific circumstances.

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he's not working, he enjoys time with his wife, two kids, three dogs and 10 ducks.

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Why you should open a CD this February. Will home prices fall this spring? Here's what some experts think. Is whole life insurance worth it for seniors? Here's what experts say. This means your credit report will include that negative impact, which can hurt your chances of getting approved for loans in the future, including mortgages or auto loans.

After debt settlement, any amount that was forgiven will be considered taxable income. The amount you owe will depend on the amount of debt forgiven and your tax bracket. Credit card companies are unlikely to forgive your debt, but you do have some alternatives to help you reduce and eliminate your credit card debt.

Consider a debt consolidation loan or working with a credit counselor on a debt management plan. You can also turn to a debt relief company to help you negotiate a debt settlement, or, as a last resort, file for bankruptcy.

Weigh the pros and cons of each strategy, including their impact on your credit, to determine which one best suits your needs and financial situation. Consumer Financial Protection Bureau. National Foundation for Credit Counseling. United States Bankruptcy Court. United States Courts.

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Table of Contents Expand. Table of Contents. Understanding Debt Forgiveness. Negotiating With Companies. Consequences of Debt Settlement. Alternatives to Debt Forgiveness. Frequently Asked Questions FAQs. What Are the Consequences of Debt Settlement on Credit Scores? Are There Any Tax Implications of Debt Settlement?

The Bottom Line. Trending Videos. Key Takeaways Credit card forgiveness from credit card companies is unlikely. You may be able to negotiate with credit card companies for other debt relief, like creating a debt management plan. A debt consolidation loan can help you pay down credit card debt faster.

Your goal is to work out a modified payment plan that lowers your payments to a level you can manage. If you don't pay the amount due on your debt for several months your creditor will likely write your debt off as a loss, your credit score may take a hit, and you still will owe the debt.

In fact, the creditor could sell your debt to a debt collector who can try to get you to pay. But creditors may be willing to negotiate with you even after they write your debt off as a loss. A reputable credit counseling organization can give you advice on managing your money and debts, help you develop a budget, offer you free educational materials and workshops, and help you make a plan to repay your debt.

Its counselors are certified and trained in credit issues, money and debt management, and budgeting. Good credit counselors spend time discussing your entire financial situation with you before coming up with a personalized plan to solve your money problems. Your first counseling session will typically last an hour, with an offer of follow-up sessions.

Most reputable credit counseling organizations are non-profits with low fees, and offer services through local offices, online, or by phone. If you can, use a credit counselor you can meet in person. Non-profit credit counseling programs are often offered through.

Your financial institution or local consumer protection agency also may be able to refer you to a credit counselor. Some credit counseling organizations charge high fees, which they might not tell you about.

Choose an organization that:. Be sure to get every detail and promise in writing, and read any contracts carefully before you sign them. A good credit counselor will spend time reviewing your specific financial situation and then offer customized advice to help you manage your money.

But if a credit counselor says a debt management plan is your only option, and says that without a detailed review of your finances, find a different counselor. You want to be sure they offer the types of modifications and options the credit counselor describes to you. Whether a debt management plan is a good idea depends on your situation.

A successful debt management plan requires you to make regular, timely payments, and can take 48 months or more to complete. You might have to agree not to apply for — or use — any more credit until the plan is finished. No legitimate credit counselor will recommend a debt management plan without carefully reviewing your finances.

Debt settlement programs are different from debt management plans. Debt settlement programs are typically offered by for-profit companies to people with significant credit card debt. They agree that this amount will settle your debt.

These programs often encourage you to stop making any monthly payments to your creditors. Debt settlement programs can be risky. Even if a debt settlement company does get your creditors to agree, you still have to be able to make payments long enough to get them settled. You may not be able to settle all your debts.

The process can take years to complete. If you do business with a debt settlement company, you may have to put money in a special bank account managed by an independent third party. The money is yours, as is the interest the account earns. Before you sign up for its services, the company must tell you.

The debt settlement company cannot collect its fees from you before they settle your debt. Generally, there are two different types of fee arrangements a proportion of the amount of debt resolved or a percentage of the amount saved. Each time the debt settlement company successfully settles a debt with one of your creditors, the company can charge you only a portion of its full fee.

The debt settlement company also must tell you that. Never pay any group that tries to collect fees from you before it settles any of your debts or enters you into a debt management plan. Instead of paying a company to talk to creditors on your behalf, you can try to settle your debt yourself.

If your debts are overdue the creditor may be willing to negotiate with you. They might even agree to accept less than what you owe. If you do reach an agreement, ask the creditor to send it to you in writing. And just like with a debt settlement company, if your agreement means late payments or settling for less than you owe, it could negatively impact your credit report and credit score.

Worrying about credit card bills could be a sign you need debt help. We can help if you're in debt. You can get free and confidential debt advice online now 4 strategies to pay off credit card debt faster ; Target one debt at a time · Focus on high-interest debt · Try the snowball method ; Consolidate debt · Transfer Here are the best ways to pay off credit card debt so you can be on your way to a debt-free life. · What we'll cover · Using a balance transfer

Venture capital investment

Venture capital investment

VC also moved from a focus on semiconductors and data processors to include sectors like personal computers and medical technology and was seen as a factor behind the dotcom bubble that ended in large investments were made in fledgling tech companies that, in retrospect, had only a very slim chance of success.

Venture Capital fell out of favour in the years following the tech bubble collapse. In the last decade or so, however, the internet has produced a range of companies with sustainable business models. The rise in big tech firms has been accompanied by often tech- driven advances in other areas such as healthcare.

Venture Capital firms have found themselves well positioned to capitalize on the opportunities and we discuss recent growth in the industry below. The key stages of Venture Capital financing are shown in Figure 1. Rather than providing funding upfront, staged funding allows Venture Capitalists to regularly refresh information about the firm, monitor its key metrics, review plans, and evaluate whether to provide additional capital funding or look for an exit.

For a brief summary of the report and to download the full PDF, please click here. In Europe, Middle East and Africa as well as in Asia Pacific this material is considered marketing material, but this is not the case in the U.

No assurance can be given that any forecast or target can be achieved. Forecasts are based on assumptions, estimates, opinions and hypothetical models which may prove to be incorrect. Past performance is not indicative of future returns. Investments come with risk. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time.

Your capital may be at risk. This document was produced in August Readers should refer to disclosures and risk warnings at the end of this document. The content and materials on this website may be considered Marketing Material.

The market price of an investment can fall as well as rise and you might not get back the amount originally invested. Please consider the sales restrictions relating to the products or services in question for further information.

By selecting Continue, you are accessing content provided by a website that Deutsche Bank does not own or operate. ARDC was remarkable in that, for the first time, a startup could raise money from private sources other than wealthy families.

Previously, new companies looked to families such as the Rockefellers or Vanderbilts for the capital they needed to grow. ARDC soon had millions in its account from educational institutions and insurers. Firms such as Morgan Holland Ventures and Greylock Partners were founded by ARDC alums.

Startup financing began to resemble the modern-day venture capital industry after the passing of the Investment Act of The act enabled small business investment companies to be licensed by the Small Business Administration established five years earlier. Venture capital, by its nature, invests in new businesses with great growth potential but also an amount of risk substantial enough to scare off lending by banks.

Fairchild Semiconductor FCS , one of the earliest and most successful semiconductor companies, was the first venture capital-backed startup, setting a pattern for venture capital's close relationship with emerging technologies in the San Francisco Bay Area.

Venture capital firms in that region and period also established the standards of practice used today. They set up limited partnerships to hold investments, with professionals acting as general partners. Those supplying the capital would serve as passive partners with more limited control.

The number of independent venture capital firms increased in the following decade, prompting the founding of the National Venture Capital Association in Venture capital has since grown into a hundred-billion-dollar industry.

Today, well-known venture capitalists include Jim Breyer, an early Facebook META investor, Peter Fenton, an early investor in X, and Peter Thiel, the co-founder of PayPal PYPL. The record-setting value of all U. venture capital investments in VC firms typically control a pool of funds collected from wealthy individuals, insurance companies, pension funds, and other institutional investors.

Although all of the partners have partial ownership of the fund, the VC firm decides how the monies will be invested. Investments are usually made in businesses with attractive growth potential that are considered too risky for banks or capital markets.

The venture capital firm is referred to as the general partner, and the other financiers are referred to as limited partners. Venture capitalists make money from the carried interest of their investments, as well as management fees.

Each VC fund is different, but their roles can be divided into roughly three positions: associate, principal, and partner. As the most junior role, associates are usually involved in analytical work, but they may also help introduce new prospects to the firm.

Principals are higher-level and more closely involved in the operations of the VC firm's portfolio companies. At the highest tier, partners are primarily focused on identifying specific businesses or market areas to invest in and approving new investments or exits.

Venture capitalists are investors who form limited partnerships to pool investment funds. They use that money to fund startup companies in return for equity stakes in those companies.

VCs usually make their investments after a startup has been bringing in revenue rather than in its initial stage. VC investments can be vital to startups because their business concepts are typically unproven and, thus, they pose too much risk for traditional providers of funding.

Harvard Business School, Baker Library Historical Collections. Cambridge Historical Society. Small Business Administration. Fairchild Semiconductors.

Securities and Exchange Commission. National Venture Capital Association. To achieve this, or even just to avoid the dilutive effects of receiving funding before such claims are proven, many start-ups seek to self-finance sweat equity until they reach a point where they can credibly approach outside capital providers such as venture capitalists or angel investors.

This practice is called " bootstrapping ". Equity crowdfunding is emerging as an alternative to traditional venture capital. Traditional crowdfunding is an approach to raising the capital required for a new project or enterprise by appealing to large numbers of ordinary people for small donations.

While such an approach has long precedents in the sphere of charity, it is receiving renewed attention from entrepreneurs, now that social media and online communities make it possible to reach out to a group of potentially interested supporters at very low cost.

Some equity crowdfunding models are also being applied specifically for startup funding, such as those listed at Comparison of crowd funding services.

One of the reasons to look for alternatives to venture capital is the problem of the traditional VC model. The traditional VCs are shifting their focus to later-stage investments, and return on investment of many VC funds have been low or negative.

In Europe and India, Media for equity is a partial alternative to venture capital funding. Media for equity investors are able to supply start-ups with often significant advertising campaigns in return for equity.

In Europe, an investment advisory firm offers young ventures the option to exchange equity for services investment; their aim is to guide ventures through the development stage to arrive at a significant funding, mergers and acquisition, or other exit strategy.

In industries where assets can be securitized effectively because they reliably generate future revenue streams or have a good potential for resale in case of foreclosure , businesses may more cheaply be able to raise debt to finance their growth.

Good examples would include asset-intensive extractive industries such as mining, or manufacturing industries. Offshore funding is provided via specialist venture capital trusts, which seek to use securitization in structuring hybrid multi-market transactions via an SPV special purpose vehicle : a corporate entity that is designed solely for the purpose of the financing.

In addition to traditional venture capital and angel networks, groups have emerged, which allow groups of small investors or entrepreneurs themselves to compete in a privatized business plan competition where the group itself serves as the investor through a democratic process.

Law firms are also increasingly acting as an intermediary between clients seeking venture capital and the firms providing it. Other forms include venture resources that seek to provide non-monetary support to launch a new venture.

Every year, there are nearly 2 million businesses created in the US, but only — get venture capital funding. In , female-founded companies raised 2. For comparison, a UC Davis study focusing on large public companies in California found Venture capital, as an industry, originated in the United States, and American firms have traditionally been the largest participants in venture deals with the bulk of venture capital being deployed in American companies.

However, increasingly, non-US venture investment is growing, and the number and size of non-US venture capitalists have been expanding. Venture capital has been used as a tool for economic development in a variety of developing regions.

In many of these regions, with less developed financial sectors, venture capital plays a role in facilitating access to finance for small and medium enterprises SMEs , which in most cases would not qualify for receiving bank loans.

In the year of , while VC funding were still majorly dominated by U. VC funding has been shown to be positively related to a country's individualistic culture. through the fourth quarter of , according to a report by the National Venture Capital Association.

small Canadian-controlled private corporations CCPCs. Canada also has a fairly unusual form of venture capital generation in its labour-sponsored venture capital corporations LSVCC.

These funds, also known as Retail Venture Capital or Labour Sponsored Investment Funds LSIF , are generally sponsored by labor unions and offer tax breaks from government to encourage retail investors to purchase the funds.

Generally, these Retail Venture Capital funds only invest in companies where the majority of employees are in Canada. However, innovative structures have been developed to permit LSVCCs to direct in Canadian subsidiaries of corporations incorporated in jurisdictions outside of Canada.

In Australia and New Zealand, there are more than one hundred active VC funds, syndicates, or angel investors making VC-style investments. Some notable Australian and New Zealand startup success stories include graphic design company Canva , [79] financial services provider Airwallex , New Zealand payments provider Vend acquired by Lightspeed , rent-to-buy company OwnHome , [80] and direct-to-consumer propositions such as Eucalyptus a house of direct-to-consumer telehealth brands , and Lyka a pet wellness company.

In , the largest Australian funds are Blackbird Ventures , Square Peg Capital , and Airtree Ventures. These funds have funding from institutional capital, including AustralianSuper and Hostplus, family offices, and sophisticated individual high-net-wealth investors.

Outside of the 'Big 3', other notable institutional funds include AfterWork Ventures , [83] Artesian, Folklore Ventures, Equity Venture Partners, Our Innovation Fund, Investible, Main Sequence Ventures the VC arm of the CSIRO , OneVentures, Proto Axiom, and Tenacious Ventures.

As the number of capital providers in the Australian and New Zealand ecosystem has grown, funds have started to specialise and innovate to differentiate themselves. Its community is invested in its fund, and lean into assist with sourcing and evaluating deal opportunities, as well as supporting companies post-investment.

Several Australian corporates have corporate VC arms, including NAB Ventures, Reinventure associated with Westpac , IAG Firemark Ventures, and Telstra Ventures. Leading early-stage venture capital investors in Europe include Mark Tluszcz of Mangrove Capital Partners and Danny Rimer of Index Ventures , both of whom were named on Forbes Magazine's Midas List of the world's top dealmakers in technology venture capital in Comparing the EU market to the United States, in venture capital funding was seven times lower, the EU having less unicorns.

This hampers the EU's transformation into a green and digital economy. Known Nordic early-stage venture capital funds include NorthZone Sweden , Maki. vc Finland and ByFounders Copenhagen. Many Swiss start-ups are university spin-offs, in particular from its federal institutes of technology in Lausanne and Zurich.

ch, Swiss Founders Fund, as well as a number of angel investor clubs. As of March , there are active VC firms in Poland which have invested locally in over companies, an average of 9 companies per portfolio.

Since , new legal institutions have been established for entities implementing investments in enterprises in the seed or startup phase. The Bulgarian venture capital industry has been growing rapidly in the past decade.

India is catching up with the West in the field of venture capital and a number of venture capital funds have a presence in the country IVCA. It is also used to refer to investors "providing seed", "start-up and first-stage financing", [] or financing companies that have demonstrated extraordinary business potential.

Venture capital refers to capital investment; equity and debt; both of which carry indubitable risk. The anticipated risk is very high. The venture capital industry follows the concept of "high risk, high return", innovative entrepreneurship, knowledge-based ideas and human capital intensive enterprises have become common as venture capitalists invest in risky finance to encourage innovation.

China is also starting to develop a venture capital industry CVCA. Singapore is widely recognized and featured as one of the hottest places to both start up and invest, mainly due to its healthy ecosystem, its strategic location and connectedness to foreign markets. With 53 percent, tech investments account for the majority of deal volume.

Moreover, Singapore is home to two of South-East Asia's largest unicorns. Start-ups and small businesses in Singapore receive support from policymakers and the local government fosters the role VCs play to support entrepreneurship in Singapore and the region.

This first of its kind partnership NRF has entered into is designed to encourage these enterprises to source for new technologies and innovative business models. Currently, the rules governing VC firms are being reviewed by the Monetary Authority of Singapore MAS to make it easier to set up funds and increase funding opportunities for start-ups.

This mainly includes simplifying and shortening the authorization process for new venture capital managers and to study whether existing incentives that have attracted traditional asset managers here will be suitable for the VC sector.

A public consultation on the proposals was held in January with changes expected to be introduced by July. In recent years, Singapore's focus in venture capital investments has geared more towards more early stage, deep tech startups, [] with the government launching SGInnovate in [] to support the development of deep tech startups.

Deep tech startups aim to address significant scientific problems. Singapore's tech startup scene has grown in recent years, and the city-state ranked seventh in the latest Global Innovation Index The Middle East and North Africa MENA venture capital industry is an early stage of development but growing.

In Israel, high-tech entrepreneurship and venture capital have flourished well beyond the country's relative size. As it has very little natural resources and, historically has been forced to build its economy on knowledge-based industries, its VC industry has rapidly developed, and nowadays has about 70 active venture capital funds, of which 14 international VCs with Israeli offices, and additional international funds which actively invest in Israel.

In addition, as of , Israel led the world in venture capital invested per capita. In , Wix. com joined 62 other Israeli firms on the Nasdaq. The Southern African venture capital industry is developing.

The South African Government and Revenue Service is following the international trend of using tax-efficient vehicles to propel economic growth and job creation through venture capital.

Section 12 J of the Income Tax Act was updated to include venture capital. Companies are allowed to use a tax-efficient structure similar to VCTs in the UK.

Despite the above structure, the government needs to adjust its regulation around intellectual property , exchange control and other legislation to ensure that Venture capital succeeds.

Currently, there are not many venture capital funds in operation and it is a small community; however, the number of venture funds are steadily increasing with new incentives slowly coming in from government.

Funds are difficult to come by and due to the limited funding, companies are more likely to receive funding if they can demonstrate initial sales or traction and the potential for significant growth. The majority of the venture capital in Sub-Saharan Africa is centered on South Africa and Kenya.

Entrepreneurship is a key to growth. Governments will need to ensure business friendly regulatory environments in order to help foster innovation. In , venture capital startup funding grew to 1.

The causes are as of yet unclear, but education is certainly a factor. Unlike public companies , information regarding an entrepreneur's business is typically confidential and proprietary. As part of the due diligence process, most venture capitalists will require significant detail with respect to a company's business plan.

Entrepreneurs must remain vigilant about sharing information with venture capitalists that are investors in their competitors. Most venture capitalists treat information confidentially, but as a matter of business practice, they do not typically enter into Non Disclosure Agreements because of the potential liability issues those agreements entail.

Entrepreneurs are typically well advised to protect truly proprietary intellectual property. Limited partners of venture capital firms typically have access only to limited amounts of information with respect to the individual portfolio companies in which they are invested and are typically bound by confidentiality provisions in the fund's limited partnership agreement.

There are several strict guidelines regulating those that deal in venture capital. Namely, they are not allowed to advertise or solicit business in any form as per the U. Securities and Exchange Commission guidelines.

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Download as PDF Printable version. In other projects. Wikimedia Commons. Form of private-equity financing. Main article: History of venture capital.

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January Learn how and when to remove this template message. Main article: Venture capital financing. This section does not cite any sources. Please help improve this section by adding citations to reliable sources.

May Learn how and when to remove this template message. Main article: Carried interest. Main article: Venture capital in Poland. Main article: Venture capital in Israel. See also: Economy of Africa § Entrepreneurship. Angel investor Corporate venture capital Deep tech Enterprise Capital Fund —a type of venture capital fund in the UK Equity crowdfunding History of private equity and venture capital Initial public offering IPO Joint venture International joint venture List of venture capital firms Mergers and acquisitions Platform cooperative Private equity secondary market Private equity Revenue-based financing Seed funding Social venture capital Sweat equity Venture capital financing Venture capitalist Women in venture capital.

Under the original application, each investment was expected to adhere to risk standards on its own merits, limiting the ability of investment managers to make any investments deemed potentially risky. Under the revised interpretation, the concept of portfolio diversification of risk, measuring risk at the aggregate portfolio level rather than the investment level to satisfy fiduciary standards would also be accepted.

Tech-centric, RIII is focused on investing in disruptive technology and the innovative minds behind each idea". Rutchik Sources and Selects the Startups. Entrepreneurship Theory and Practice. doi : ISSN S2CID Zhang and J. Cueto Archived from the original on December 8, The New Venturers, Inside the High Stakes World of Venture Capital.

Creative Capital: Georges Doriot and the Birth of Venture Capital. Cambridge, MA: Harvard Business School Press. ISBN Creative capital: Georges Doriot and the birth of venture capital. Boston, Harvard Business Press, The Case of Macedonia". International Journal of Academic Research in Accounting, Finance and Management Sciences.

Retrieved September 30, Archived from the original on December 18, Retrieved May 18, April 4, Congressional Research Service. Retrieved July 8, Interview by Charles Rudnick. National Venture Capital Association Venture Capital Oral History Project Funded by Charles W.

Newhall III. September 18, Stanford Law School. Retrieved January 28, Archived from the original on October 2, Silicon Valley Business Journal. Retrieved March 29, VC: An American History.

Venture capital (VC) is a form of private equity financing that is provided by firms or funds to startup, early-stage, and emerging companies that have been Venture capitalists are investors who form limited partnerships to pool investment funds. They use that money to fund startup companies in Venture capital (VC) is a form of private equity that funds startups and early-stage emerging companies with little to no operating history but

Loan forgiveness for low-income earners

Loan forgiveness for low-income earners

ECONLOG POST Oct 20 Bidenomics, inflation, President Biden, rent-seeking, student loan forgiveness, Supreme Court. Categories: Economics of Education Education Incentives Income Distribution. By Vance Ginn, Oct 20 SHARE POST:.

RELATED CONTENT Michael Munger on the Future of Higher Education. Read This Article. READER COMMENTS. READ COMMENT POLICY. Mark Oct 20 at pm. Thomas L Hutcheson Oct 21 at am.

TMC Oct 21 at pm. Thomas L Hutcheson Oct 23 at am. Robert S Hertz Oct 21 at pm. Many good comments here, but one whopper of an exaggeration, as follows: A. assume that this is the total cost to the government over a 10 year period C. Brandon Berg Oct 22 at pm. Erma Decalo Oct 23 at am.

johnson85 Oct 23 at pm. Comments are closed. RECENT POST Oct 21 New Orleans Restaurants Under Attack. Read More. The left panel of Figure 6 shows the distribution of cancellation dollars by race and the right panel shows the fraction of each group that has their debt fully cancelled.

The patterns in both panels of Figure 6 are driven by the distribution of student debt across and within racial groups, as shown in Figure 7.

Race and ethnicity come from self-reported declarations on voter registration forms in Florida, Georgia, and Louisiana. Sample is restricted to customers in those states. The left panel of Figure 7 shows how outstanding balances are distributed across Black, Latinx, and White borrowers and largely mirrors the pattern in the left panel of Figure 6.

The right panel of Figure 7 shows the distribution of balances within each group and shows that while Black borrowers tend to have lower income than White borrowers, they also tend to have higher balances.

It should be noted, however, that high balances among Black and White borrowers may arise for different reasons. Black borrowers are more likely to borrow more for a given degree, largely due to lower amounts of familial wealth Nam et al.

Furthermore, lower familial wealth among Black borrowers also results in worse repayment outcomes, even conditional income Farrell, Greig, and Sullivan These dynamics mean that a student debt cancellation program, at least those considered here, may not be effective at narrowing the racial wealth gap.

However, policy levers not considered here, such as interest forgiveness or making graduate school debt ineligible for forgiveness, may be more effective than income targeting alone.

Two panels. The right panel show various percentiles in the distribution of balances among each group. Balance percentiles are conditional on holding debt. Combining the total costs of each cancellation option Figure 1 and the distributional results Figures 2 and 4 , we can see how much debt is cancelled for low- versus high-income borrowers as well as people who are stuck in a debt trap versus those who are about to pay off their debt without cancellation.

Table 1 shows how much each of these groups receives under each cancellation scenario. The third row is the first row divided by the second row and can be interpreted as how many dollars of forgiveness a low-income borrower receives per dollar of forgiveness received by a high-income borrower.

The ratio of 0. Recall that forgiving debt of people projected to never pay off their debt row 4 , especially those making zero payments, may carry lower cost to the government insofar as that debt may not ever be recovered. Conversely, forgiving the debts of people about to pay off their debt by making their scheduled payments carries a high cost to the government as those debts are very likely to be repaid.

Table 1: Total forgiveness received by a given group under each scenario in billions. Targeting student loan forgiveness to lower-income families increases the progressivity of this relief.

Income targeting significantly reduces the cost of cancellation. Additional targeting criteria besides income could also help direct more of the total forgiveness to those who need it most. While income targeting by its nature would make cancellation more progressive, the Department of Education may not have access to income information of its borrowers aside from those who are enrolled in income driven repayment programs.

Targeting loan forgiveness based on family income recorded in the FAFSA at the time of origination could be a proxy long-run familial wealth and the ability to repay of the borrower and the help they may receive with repayment.

Additionally, targeting loan forgiveness to undergraduate debt or forgiving any accrued interest could alleviate debt burdens for those facing the most repayment difficulty. Indeed in our sample, roughly one in five borrowers is carrying accrued interest, suggesting that back interest may be a significant part of current student debt balances.

Income-targeted forgiveness alone is unlikely to significantly affect the racial wealth gap. Black borrowers have disproportionately higher student debt balances relative to White borrowers and large balances occur within these groups for very different reasons.

Current balances are determined by the amount of original debt as well as the pace of repayment. Due to differences in familial wealth documented by Farrell et al. This means that more aggressive income targeting does not significantly change the share of cancellation dollars.

Debt cancellation may create moral hazard problems if people believe there will be future debt cancellations. If people believe debt could be forgiven in the future, they may change their behavior today, taking out more debt or repaying current debt more slowly than they would otherwise. A policy with a hard income limit may also induce people to adapt to the cut off—the limit could create a marginal incentive to reduce work or to cut reported income in other ways.

However, a one-time cancellation based on already filed tax documents could lessen these problems, insofar as the government can convince the public the cancellation is a one-time action.

One-time student loan forgiveness addresses the stock of student loan debt today but does nothing to reduce the amount of debt accrued tomorrow.

Any long-term solution to relieving students is incomplete without addressing these underlying forces. Amir, Elan, Jared Teslow, and Christopher Borders. Catherine, Sylvain, and Constantine Yannelis. Department of Education. Farrell, Diana, Fiona Greig, and Daniel M. Farrell, Diana, Fiona Greig, Chris Wheat, Max Liebeskind, Peter Ganong, Damon Jones, and Pascal Noel.

Nam, Yunju, Darrick Hamilton, William Darity Jr, and Anne Price. We thank our research team, specifically Bernard Ho and Malu Menon ­­­for their hard work and contributions to this research. Additionally, we thank Anna Garnitz and Sruthi Rao for their support. We are indebted to our internal partners and colleagues, who support delivery of our agenda in a myriad of ways, and acknowledge their contributions to each and all releases.

We remain deeply grateful to Peter Scher, Head of Corporate Responsibility, Heather Higginbottom, President of the JPMC Policy Center, and others across the firm for the resources and support to pioneer a new approach to contribute to global economic analysis and insight. Please review its website terms, privacy and security policies to see how they apply to you.

We no longer support this browser. Some are even objecting to the actions we announced today, which follows through on relief borrowers were promised, but never given, even when they had been making payments for decades.

The hypocrisy is stunning, and the disregard for working and middle-class families is outrageous. Vice President Harris also issued a statement, available here. Eligible borrowers were notified by the Department starting last Friday that they qualify for forgiveness without further action on their part.

Discharges will begin 30 days after those emails were sent. Borrowers who wish to opt out of the discharge for any reason should contact their loan servicer during this period. Borrowers will be notified by their servicer after their debt is discharged.

Those receiving forgiveness will have repayment on those loans paused until their discharge is processed, while those who opt out of the discharge will return to repayment once payments resume. Secretary of Education Miguel Cardona on Friday.

By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans. This Administration will not stop fighting to level the playing field in higher education.

The Department will continue to identify and notify borrowers who reach the applicable forgiveness thresholds or qualifying monthly payments, depending on their repayment plan and type of loan every two months until next year when all borrowers who are not yet eligible for forgiveness will have their payment counts updated.

Any month counted for this purpose can also be counted toward PSLF if the borrower documents qualifying employment for that same period.

Like the other loan repayment aid programs, RAP is open to lower-income people with loans in good standing If you qualify for the B.C. Loan Forgiveness Program, the Province of British Columbia will forgive the outstanding B.C. portion of your Canada-B.C. integrated The Biden administration has just announced plans to forgive $10, of student loan debt for all borrowers who earn below US$, ($,

Cashback rewards card

Cashback rewards card

The Capital One Quicksilver card offers 1. How do cash back credit cards work? Cards under the Savor card suite offer higher cash-back incentives across dining and entertainment categories. Cards under the Quicksilver card suite offer a flat-rate cash back percentage for all of your everyday purchases.

Can I redeem my rewards for something other than cash back? Yes, cash back cards can be redeemed for a number of rewards. Cards under both the Quicksilver card suite and Savor card suite can be redeemed for cash back on other rewards such as entertainment and travel. All of these Capital One cash back card options can also be redeemed for gift cards and eligible purchases on both PayPal and Amazon.

Is there a limit to the amount of cash back rewards I can earn with my Capital One card? The Quicksilver card suite offers unlimited rewards for all of your everyday purchases. The Savor card suite offers unlimited rewards in dining and entertainment categories, as well as everyday purchases.

Do Capital One cash back cards have an annual fee? Do Capital One cash back rewards expire? Learn how NerdWallet rates credit cards. Every time you use a cash-back credit card, the card issuer "pays you back" a certain percentage of the purchase amount. With most cash-back cards, you can see your accumulated earnings on your monthly statement or through your online account portal, and you can decide when and how to redeem your cash back.

Some cards automatically apply your cash back to your account as a credit. But the rewards do ultimately leave you with more cash in your pocket.

Many cards also allow you to redeem cash back as a direct deposit into a bank account, and some will even mail you a paper check if you request it.

Every card issuer has its own rules for how you can redeem cash back. Others let you redeem any amount at any time.

There are three basic kinds of cash-back credit cards:. Some cards let you pick which types of merchants earn the higher rates, but most have set categories. You usually have to "activate" the category online to qualify for the higher rate.

Everyone's spending patterns are different, so the card that earns you the most cash back depends on your individual situation. Legally speaking, credit card rewards are treated as discounts on purchases rather than as income.

That means you don't owe any taxes on your cash back. CREDIT CARDS CREDIT CARDS BEST CASH BACK CREDIT CARDS OF FEBRUARY Advertiser disclosure BEST OF 16 Best Cash Back Credit Cards of February By NerdWallet. Many or all of the products featured here are from our partners who compensate us.

This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Show summary. Best Cash Back Credit Cards From Our Partners. Credit card. NerdWallet rating. Find the right credit card for you. Get Started. Take Quiz.

Our pick for Bonus rewards: High rates on dining, groceries and more. Our pick for Flat-rate cash back: High ongoing rate. Our pick for Bonus rewards: Groceries, gas, commuting, streaming. Our pick for Customizable rewards: Wide selection of categories.

Our pick for Bonus rewards: High rate for big box shoppers. Our pick for Amazon Prime shoppers. Our pick for Flat-rate cash back: Apple Pay users. FULL LIST OF EDITORIAL PICKS: BEST CASH BACK CARDS.

Wells Fargo Active Cash® Card. Apple Card. PayPal Cashback Mastercard®. Bank of America® Unlimited Cash Rewards credit card. Alliant Cashback Visa® Signature Credit Card.

Blue Cash Everyday® Card from American Express. Chase Freedom Unlimited®. Prime Visa. Citi Custom Cash® Card. Bank of America® Customized Cash Rewards credit card.

OTHER RESOURCES. What are cash-back credit cards? Types of cash-back credit cards. Flat rate. Rotating categories. Common cash-back bonus categories. Examples of common bonus categories:. How to compare cash-back credit cards.

Annual fee. Sign-up bonus. Cash back vs. travel cards. Pros and cons of using a cash-back card. Pros: Why it's worth getting a cash-back card. Cons: Why a cash-back card might not be for you.

Making the most of your cash-back card. Charge often. Combine cards for optimum rewards. Earn back the annual fee. Take advantage of rotating bonus categories. Earn your sign-up bonus. Use the card's shopping portal for extra rewards. Other cards to consider. Last updated on February 8, Methodology NerdWallet's Credit Cards team selects the best cash-back credit cards based on overall consumer value, as evidenced by star ratings, as well as their suitability for specific kinds of consumers.

Frequently asked questions How do cash-back credit cards work? Do cash-back cards actually give you cash? What kinds of cash-back credit cards are there? Review your receipts and statements from the past several months to get an idea of where you spend most.

Do you tend to eat at restaurants or order takeout most nights? Or do you stick to a weekly grocery shop for most of your meals? Do you have a car that takes a lot of miles on for your weekly commute?

Or do you rely more on public transportation, supplemented by Uber and Lyft rides? Knowing the details of your own spending habits can help you make the best choice of rewards. These can be among the most lucrative options, especially if your spending falls outside common categories.

But some cash-back options do offer extra benefits that can help you save even more throughout the year. Often, cash-back credit card benefits come from brands that partner with credit card issuers.

For example, you may get a small monthly credit toward a subscription or membership. But if you are already a member or subscriber, they may give you an extra savings boost over time. Make sure you keep regular track of the cash rewards you earn.

You may even be able to set up automatic redemptions once you meet a certain amount of rewards earned. Cash-back cards can be ideal for pairing with other cash-back cards or travel rewards cards to maximize your earnings.

For example, say you already have a travel card you use to earn bonus points on flights, hotels, and rental cars when you travel. You can also open a cash-back card for savings on dining at restaurants, your favorite streaming services, and supermarket shopping. Now, between both cards, you can optimize the majority of your spending while traveling and at home.

If you prefer the simplicity of only cash back, you could do something similar with two cash-back cards. Strategizing card use like this can take some time, but it will help you earn a lot higher cash-back value in the long run.

Just remember to pay your balance off in full and on time each month to get your maximum value. Otherwise, the high interest rates these cards carry could wipe out the amount you earn in rewards — and leave you with mounting debt balances. Among different types of reward cards , cash-back credit cards can be some of the simplest to use.

Instead, you can simply redeem the cash back you earn for statement credits, a deposit into your bank account, or a check. Cash-back cards are also perfect for saving on everyday purchases. But cash-back cards tend to reward purchases in essential categories for many Americans: gas, groceries, streaming services, and more.

Despite their simplicity, cash-back cards can also be powerful tools. You can get hundreds of dollars in value each year just by spending the amount normally within your budget on a cash-back card. These cards can charge very high variable APRs , and any revolving balance on your account can quickly turn into high-interest debts.

If you want to get any return on your spending with cash back, avoiding taking on debt with your card is important. In some cases, there may be better options than cash-back cards for your spending. Spending caps for rewards earnings can hinder some people with very large monthly budgets, for example.

Before you choose, compare your individual spending and budget to multiple card options to find the best one for you. Just make sure you take the time to find the right cash-back option for you. Between flat, rotating, and tiered cash rewards and cards that offer any combination of the three , there are plenty of options that may be better suited for your top spending categories than others.

Many cash-back cards require at least good credit, or a FICO Score of at least , for approval. Some cash-back cards are designed for cardholders who are building credit, but they may not offer as robust rewards as others. Cash-back credit cards work like any other credit card. As those amounts add up, you can redeem them for statement credits toward your card balance or physical cash.

You may get boosted cash back percentages on specific purchases depending on the card you have. Cash-back cards can offer a simpler rewards structure than some other points-and-miles rewards programs, which make them popular among cardholders who want to maximize their spending without too much extra work.

The best cash-back rewards for you will depend on your spending habits and how you use your cash-back credit card. In many cases, the cash back you earn does not expire until your account is closed.

However, individual issuers may have different standards for how long your cash back lasts. Always make sure to read your card agreement for expiration dates that may apply for your cash-back card.

For example, issuers often exclude lottery ticket or gambling chip purchases from earning cash back, as well as items you return or unauthorized spending.

Best overall cash back card: Wells Fargo Active Cash® Card; Best cash back card for those who want the most value: Chase Freedom Unlimited Hear from our editors: The best cash back credit cards of February · Best for everyday spending: Chase Freedom Unlimited® · Best for rotating bonus rewards Best Flat-Rate Cash-Back Card: Wells Fargo Active Cash® Card The Wells Fargo Active Cash® Card is a solid option for those looking for a flat-

Low-interest consolidation

Low-interest consolidation

Homeowners can utilize the equity they have built in their homes to consolidate their debt. Your home equity is calculated by subtracting your mortgage balance from the current appraised value of your home.

A HELOC provides homeowners with a revolving line of credit, similar to a credit card. You can spend from the account as many times as you like during the draw period, and typically only pay interest until you reach the repayment period.

By contrast, a home equity loan is a lump sum payment that typically has a fixed interest rate and repayment schedule. Finding the best home equity loan rate is essential and can significantly impact your finances for years. Consider the proposed interest rate, repayment period, and other terms and conditions when looking at lender options.

Follow these basic steps to apply for your debt consolidation solution:. You may want to consolidate debt if the following are available to you.

When done right, debt consolidation can help reduce the overall amount of interest you pay. This can be a substantial benefit if you have the credit score and history to qualify for a consolidation method with a lower interest rate than your other debts combined.

Moving from multiple variable interest rates to one, fixed interest rate can also help you budget your repayments better and potentially reduce your overall cost of borrowing. The specific interest rate you can secure depends heavily upon your creditworthiness.

On top of the emotional baggage that can come from carrying multiple debts, managing the due dates, interest rates and various terms can further complicate your day-to-day life and finances. For example, you might be carrying a credit card with a high interest rate due on the 12th of every month.

A debt consolidation method can help you simplify your debt with one, simple monthly payment. There could be times when debt consolidation brings limited or no financial benefits and increases your risk of accumulating additional debt. Large origination fees could also offset the potential savings that come with a debt consolidation method.

You can calculate your specific potential financial benefits before diving into a debt consolidation application. Consider this example comparing the potential interest costs before and after consolidation:. Here you consolidated a credit card, an auto loan and a personal loan into one single debt consolidation loan with a lower monthly payment and slightly lower interest rate, but you end up paying more in interest.

Debt consolidation is still debt and can inadvertently lead to more borrowing. For example, if you use a personal loan to consolidate multiple credit card balances, you could be tempted to use your old cards for additional purchases, pushing you further into debt.

Debt consolidation only works if you pay off your debt for good. Debt consolidation methods such as balance transfer credit cards, debt consolidation loans, HELOCs and home equity loans can help borrowers simplify multiple high-interest debts into one manageable payment.

Potential benefits include lower interest rates and shorter repayment terms. But watch out for fees, and make sure you also address the root cause of your debt. The fees that come with debt consolidation can eat into your savings, especially if you cannot qualify for a significantly lower interest rate.

You may also be tempted to get further into debt when you open up a new line of credit. If you put up collateral — such as your home if you open up a HELOC or take out a home equity loan — you put yourself at risk of losing it if you cannot manage the new consolidated debt.

Your new loan or balance transfer credit card will impact your credit record like other types of credit. It will stay on your credit report for as long as the account is open. If you make regular payments and keep your account in good standing, it can have a positive impact on your credit score.

The opposite is also true: If you miss payments or allow your account to be delinquent, then it can have a negative impact on your credit score. After you close your account or loan, a negative history could remain on your credit report for up to seven years while a positive history could remain for up to 10 years.

Debt consolidation loans are different from loan forgiveness programs and debt settlements. Balance transfers and debt consolidation loans are new credit products designed to help borrowers simplify their payments and potentially decrease the amount of interest they pay. They can typically not be forgiven.

Every lender will have their own eligibility requirements and some borrowers will be denied if they have a poor credit history. Borrowers without good credit may need to sacrifice lower interest rates and better terms or work to first improve their financial situation in order to be approved for a debt consolidation loan.

MarketWatch Guides Personal Loans What Is Debt Consolidation and How Does It Work? Updated: January 26, Edited by: Jen Hubley Luckwaldt Edited by: Jen Hubley Luckwaldt Editor Jen Hubley Luckwaldt is an editor and writer with a focus on personal finance and careers.

Related Resources How To Get a Debt Consolidation Loan Best Debt Consolidation Loans for Bad Credit How To Get a Personal Loan With Bad Credit Best Personal Loans Best Fast Personal Loans. Pros and Cons of Debt Consolidation How To Consolidate Debt Which Debt Consolidation Option Is Best for Me?

When Is Debt Consolidation a Good Idea? When Is Debt Consolidation Not a Good Idea? The Bottom Line Frequently Asked Questions About Debt Consolidation. Pros of Debt Consolidation One monthly payment : Debt consolidation gives you one due date to plan for and remember.

Lower interest rate: Your interest rate depends heavily on what you qualify for, but typically, debt consolidation options can carry lower interest rates than other consumer debts like credit cards.

Fixed interest rate : Debt consolidation options can typically come with a fixed interest rate, meaning the rate remains the same throughout the lifetime of the term. Shorter repayment term : Simplifying your repayments can allow you to pay off your debt more quickly because of the reduced interest, especially if you choose a shorter loan term.

Cons of Debt Consolidation Associated fees: Most consolidation options, both loans and balance transfer cards, can include origination or balance transfer fees, which should be considered when you apply.

Get a fixed-rate debt consolidation loan : Use the money from the loan to pay off your debt, then pay back the loan in installments over a set term. You can qualify for a loan if you have bad or fair credit or below , but borrowers with higher scores will likely qualify for the lowest interest rates.

Two additional ways to consolidate debt are taking out a home equity loan or borrowing from your retirement savings with a k loan.

However, these two options involve risk — to your home or your retirement. Use the calculator below to see whether or not it makes sense for you to consolidate. Success with a consolidation strategy requires the following:. Your cash flow consistently covers payments toward your debt.

If you choose a consolidation loan, you can pay it off within five years. You might qualify for an unsecured debt consolidation loan at 7. With less interest accruing each month, you'll make quicker progress toward being debt-free.

For many people, consolidation reveals a light at the end of the tunnel. If you take a loan with a three-year term, you know it will be paid off in three years — assuming you make your payments on time and manage your spending.

Read about how to tackle credit card debt. A personal loan allows you to pay off your creditors yourself, or you can use a lender that sends money straight to your creditors. Read about the steps required to get a personal loan. Debt consolidation can help your credit if you make on-time payments or if consolidating shrinks your credit card balances.

Your credit may be hurt if you run up credit card balances again, close most or all of your remaining cards, or miss a payment on your debt consolidation loan.

Learn more about how debt consolidation affects your credit score. You will still need to take steps such as seeking low-cost financial advice or lowering your living expenses. Instead, try a do-it-yourself debt payoff method instead, such as the debt snowball or debt avalanche.

You can use a credit card payoff calculator to test out the different strategies. On a similar note Personal Finance.

Debt consolidation is combining several loans into one new loan, often with a lower interest rate. It can reduce your borrowing costs but also has some LightStream emerges as the winner in several important categories. It offers one of the lowest APRs at the time of writing, with rates starting at just % Compare debt consolidation loan rates from top lenders for February ; Upstart · · Loan term. 3, 5 years ; LightStream · · Loan term. 2 - 7

Student loan program news

Student loan program news

It has broadened eligibility and allowed people to reapply for the relief, as long as they were working in the public sector and paying down their debt.

With the PSLF help tool, borrowers can also search for a list of qualifying employers under the program and access the employer certification form. They can also learn about all the program's requirements at Studentaid. The Biden administration has also forgiven the student debt of more than , disabled borrowers.

The Department of Education has gotten better at identifying borrowers who are disabled and in need of this relief by accessing information from the Social Security Administration, Kantrowitz said.

Borrowers may qualify for a TPD discharge if they suffer from a mental or physical disability that is severe, permanent and prevents them from working. Proof of the disability can come from a doctor, the Social Security Administration or the Department of Veterans Affairs.

Another 1. Borrowers can be eligible for the discharge if their schools suddenly closed or they were cheated by their colleges.

The Biden administration has more swiftly processed these applications and has started considering cases in a group rather than requiring each attendee of a school to prove they were misled. Those who think they might qualify can apply with the Education Department.

The Biden administration is also working to revise its broad forgiveness plan to make it legally viable. To do so, it has sought to narrow the aid by focusing on certain groups, including those with balances greater than what they originally borrowed and students from schools of questionable quality.

Borrowers experiencing "financial hardship" may also get loan cancellation, although it's unclear how this category will be defined.

That alternative plan, which has become known as Biden's "Plan B ," could forgive the student debt for as many as 10 million people, according to one estimate. Skip Navigation. CNBC TV. Investing Club. Key Points. More than 3. Lakewood Church shooting. Super Bowl highlights. Trump — Supreme Court.

Student loans. Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] [deltaMinutes] mins ago Now. Biden administration is moving toward a narrower student loan relief targeting groups of borrowers Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] [deltaMinutes] mins ago Now.

Biden is trying again on student loan forgiveness. Borrowers are reassessing their budgets as student loan payments resume after pandemic pause Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars.

What would a government shutdown mean for me? Federal student loan interest has started accruing again. Going to college? Colorado students at private career school that lost accreditation get federal loan relief The federal government is forgiving the loans of Colorado students who enrolled in a now-defunct career school.

The U. In student loan and affirmative action rulings, advocates fear losses for racial equality The Supreme Court has struck down both student loan forgiveness and affirmative action in college admissions. Applications for student loan forgiveness no longer accepted The Biden administration is no longer accepting applications for student loan forgiveness after a second federal court shut down the program.

This plan includes loan forgiveness of up to $20, Many borrowers and families may be asking themselves “what do I have to do to claim this relief?” This The program will not be fully implemented until late at the earliest, according to the Education Department. Get the scoop on student loans New student loan repayment plan could cut monthly payments for 20 million. Monthly loan payments may drop, based on a borrower's income. Aug 22,

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