DEBT

An increasing number of municipal, county and state governments are using federal pandemic relief funds to pay residents’ burdensome medical debt

An increasing number of municipal, county and state governments are using federal pandemic relief funds to pay residents’ burdensome medical debt.

The number of people with medical debt on their credit reports fell by 8.2 million — or 17.9% —between 2020 and 2022.

The CEO of a nonprofit that helps people with medical debt wants to expand the amount of debt her organization buys, especially from hospitals.

Gesher Human Services is offering a free webinar called “The Advantages of Credit Cards” at 11 a.m. on Wednesday, Jan. 18.

Roughly 14% of Michiganders have medical debt

Millions of people are learning, yes, they’ve been approved for federal student loan forgiveness under the program President Joe Biden is trying to push through. But those emails and the hang-ups in court are causing some confusion.

Millions of people are learning, yes, they’ve been approved for federal student loan forgiveness under the program President Joe Biden is trying to push through. But those emails and the hang-ups in court are causing some confusion.

The Biden administration isn’t accepting applications for federal student loan forgiveness, but they have been sending emails out to people who have been approved for forgiveness.

President Joe Biden is expected to deliver remarks on efforts to provide student debt relief during a visit to New Mexico.

New policies to keep medical bills from sinking credit ratings sound good but will likely fall short for many hit hardest by debt — especially Black Americans in the South, such as Penelope Wingard.

Health care costs can become overwhelming, but consumers often have more power than they think in dealing with debt.

One of the basics of understanding finances is understanding how compound interest can work for you and against you.

Last week, President Joe Biden announced a plan to erase billions of dollars in college loan debt.

More than 40 million Americans could see their student loan debt reduced under the forgiveness plan President Joe Biden announced this week.

There have been many questions asked since the announcement was made and we’re working to answer them.

More than 40 million Americans could see their student loan debt reduced under the forgiveness plan President Joe Biden announced this week.

President Joe Biden’s student loan forgiveness program aims to provide thousands of dollars in federal student debt cancellation for millions of Americans. But where does the money come from?

President Joe Biden announced on Wednesday a new income-driven repayment plan for borrowers, and explained how it changes the current system.

President Joe Biden’s student loan forgiveness program aims to provide $10,000 in student debt cancellation for millions of Americans.

There’s a possibility that the student loan payment pause will be extended.

The initiative would use COVID-19 relief money to transfer medical bill debt to a nonprofit group, which would forgive it.

One in three adults in the United States has medical debt.

Federal student loans serviced by FedLoan are being transferred in stages to several other services.

Help is coming for many people struggling with medical debt on credit reports.

If your credit score has been impacted by medical debt, you could soon be getting some relief.

If you stopped at the grocery store or filled up your car this past weekend, you felt the pinch of the rising prices as the higher prices have more of us living paycheck to paycheck.

If you’re drowning in student loan debt, you’re not alone: 43 million people in the U.S. have student loan debt. Here are some ways you can tackle that debt.

The report from the Consumer Financial Protection Bureau comes as the agency explores ways to mitigate the impact that medical debt can have on consumer credit.

The Biden administration announced new measures to ease the financial burden of high medical bills. Here's how the measures can help and what's still missing to protect patients.

Efforts are afoot to reduce the impact of unpaid medical debt on consumers, yet more could be done, advocates say.

Equifax, Experian and TransUnion recently announced that starting July 1, they will remove nearly 70% of medical debt from credit reports.

The Illinois House approved a plan to use federal coronavirus relief funding the state received last year to partially plug a hole in the state’s unemployment insurance fund.

The battle over a proposed water rate hike in Metro Detroit this summer is getting heated.

Over half of Americans have up to $10,000 in medical expenses, whether they have health insurance or not.

CNN President Jeff Zucker has abruptly resigned after acknowledging a consensual relationship with another network executive. (Feb. 2)

Community members can speak one-on-one with a coach to create personalized plans for free.

Asset sales can offer only temporary relief for an industry drowning in debt.

Many people either have experienced credit card debit or know someone who has.

Medical debt is a growing burden among Americans, with more than 1 in 3 adults carrying a balance, according to a survey from Healthcare.com.

The pandemic has been tough for many Americans but especially on women resulting in what’s being called the 'She-cession.' Here's a rule-of-thumb to get back on your financial feet and grow your wealth.

Health care company CEO says the lucky recipients will soon receive letters informing them that their debt is gone.

It’s important to construct your finances to ensure that compound interest is always working for you, not against you.

Medical bills were the largest source of debt in the U.S. from 2009 to 2020, with a record $140 billion owed last year, a recent study found.

FILE - In this Aug. 9, 2017, photo, flags decorate a space outside the office of the Education Secretary at the Education Department in Washington. President-elect Joe Biden has chosen the education commissioner for Connecticut and a former public school teacher to serve as education secretary. (AP Photo/Jacquelyn Martin)WASHINGTON – On Tuesday, the US Department of Education announced an expansion of the pause on federal student loan interest and collections to all defaulted loans in the Federal Family Education Loan Program. This action will help more than one million additional borrowers burdened by debt during the COVID-19 pandemic. Related: DeVos suspends federal student loan payments through January 2021

TAYLOR, Mich. – An American hero who had fallen on some rough times had a life-changing day. Ogden got bamboozled and was swindled out of the money he had to pay the taxes on his Taylor home. He found himself drowning in debt before he stumbled onto Disability Network Wayne County Detroit, who stepped in to help. Ogden was given enough money Thursday to pay back all his taxes and he was able to step into the black from a mountain of red. The funding came from COVID Cares Act monies, distributed by the Disability Network Wayne County Detroit.

It’s this absurd cycle, along with reincarceration, that we are focused on.”While all inmates receive free basic care items upon incarceration, like deodorant, soap, a toothbrush, toothpaste, and feminine hygiene products,it's up to the inmate to fund other essentials, usually by having friends or family supply commissary funds. However, if the inmate is unable to pay for services or supplies, they begin incurring debt, and when money is dropped into their commissary accounts, it goes toward the debt.This, as Sheriff Clayton says, is an “absurd cycle” that prevents inmates from seeking health services, and makes it more difficult for inmates to get back on their feet financially once they've been released. This reliance on outside funds to pay off debt can also create rifts between families and can create a barrier to reunification or continued financial support.According to the Sheriff's Office, there is a notable improvement in mood and behavior when individuals are able to access supplies and services beyond those provided upon entry, which creates a safer environment for jail staff and incarcerated individuals.In addition to the debt relief, the Washtenaw County Sheriff's Office is also looking to adjust fees for services, such as medical care, copies of paperwork, barber services, intake kits, booking fees, and over the counter medication. According to a recent breakdown of fees and debt that have accrued since 2013, more than 17,198 individuals are affected by more than $291,318 in booking fee debt and more than 4,580 individuals owe a combined total of $64,867 for medication.The move by Sheriff Clayton's office follows suit with progressive policy changes made by Washtenaw County Prosecutor Eli Savit, who, since being appointed last month, has committed to no longer charging cases involving marijuana or magic mushrooms , nor will the county pursue charges for consensual sex work , or low-level offenses for juveniles . Savit has also banned drug charges from racist 'pretext stops '.You can read the full press release at Washtenaw.gov

ANN ARBOR, Mich. – The Washtenaw County Sheriff’s Office announced that it has forgiven $509,888 of outstanding debt incurred by 31,614 individuals while at Washtenaw County Jail. The decision, made by Sheriff Jerry Clayton and supported by the Washtenaw County Board of Commissioners, affects community members incarcerated between January 1, 2013, to December 31, 2020. “Our decision to eliminate this debt reflects our understanding of the stress and financial burden of incarceration,” said Clayton through a release. AdThe sum of $509,888 was identified after a review of the jail debt owed since 2013. In 2019, it increased the amount of money an indigent incarcerated individual was allowed from $3 per week to $5 per week and expanded what items that money could buy.

The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. However, the experience and challenges are still lingering for many, especially for those who are in debt. Gold, Lange, Majoros, Smalarz, PC specializes in bankruptcy law. The law firm says it has been helping people and small businesses get out of loan debt. Overall, they want to help you get control and a fresh start.

The advertiser paid a fee to promote this sponsored article and may have influenced or authored the content. The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. Live In The D’s “New Year New You” contest is happening all this week. We are showing you great ways to get 2021 off to a solid start. Watch Live In The D all week starting Monday January 11th to see how you can enter to win.

How to manage debt and deal with debt collectors The COVID-19 pandemic is making the holiday season even more stressful. At a time when people are struggling to make ends meet, how do you put gifts under the tree without driving yourself into debt? Dan Geltrude, CPA and founder of Geltrude & Company, joins CBSN to discuss how to better manage your debt.

The advertiser paid a fee to promote this sponsored article and may have influenced or authored the content. This article is sponsored by MSU Federal Credit UnionHost Tati Amare spoke with Deidre Davis from Michigan State University Federal Credit Union (MSUFCU) about the importance of knowing and improving your credit score. Deidre explained that a credit score usually ranges between 300-850. Your credit score is determined by 5 factors; Payment history, the amount you owe, types of credit used, length of credit history, and new credit. To learn more about how MSU Federal Credit Union can teach you how to improve your credit score, visit their website msufcu.org.

Tax season and credit cards seem to go hand-in-hand like peanut butter and jelly, at least if you believe the findings of a recent study conducted by Credit Card Insider. Using SurveyMonkey to conduct an online survey of 3,114 adults from Feb. 3-5, Credit Card Insider found out the following information when it comes to how important credit cards are for people during tax season. 14% of respondents who expected to owe this year planned on using a credit card to pay their taxes. Of those expecting a tax refund, 40% had credit card debt. 75% of those with debt plan to use their tax refund toward paying it off.

The student loan numbers are staggering: 40 million borrowers with more than $1.2 trillion in outstanding debt. That’s an average student loan balance of $29,000. Yahoo finance senior columnist Michael Santoli joins “CBS This Morning: Saturday” to discuss how the debt is attracting scam artists.