Daryl Shows The Poconos

Owing more on a car loan than the car is worth—called being “upside down” on a loan—can make buying a new vehicle difficult.

The negative equity can mean getting less for your old car at trade-in, or coming up with the extra money to pay off the old debt. Cars depreciate quickly, so the urge to switch to a new car after a few years can leave you with an older car that’s worth less than the loan.

Some unscrupulous lenders use abusive practices, known as predatory lending, to trap borrowers in loans they can’t afford. Those lenders target vulnerable groups, make misleading claims and conceal the true cost of their loans.

Types of Predatory Lending
It’s legal for lenders to charge borrowers with bad credit high interest rates since they’re riskier than customers with good credit. Predatory lenders deliberately target people with bad credit and charge them exorbitant interest rates.

The offer of a zero-interest credit card can look enticing when it arrives in the mail. Who doesn’t want to avoid paying interest on credit card charges?

As with most things in life, there are pros and cons to using 0-percent credit cards. Here are some facts to consider before you respond to that offer:

Reusing things you use often instead of using them once and then throwing them away will not only benefit the environment, but will save you some cash, too. 

Here are four reusable items that will more than pay for themselves in savings. 

Shopping Bags
A plastic bag has a lifespan of 12 minutes from when it’s initially filled with groceries at the store to when it’s discarded when you get home, according to Reuse This Bag. These bags can take 1,000 years to decompose. 

A credit card is one of the main ways to build credit. By using a credit card wisely and not running up huge bills and paying them off in full on time, consumers can improve their credit score. A good credit score can make getting a home, car and other loans easier, and at better interest rates.

Some people who have poor credit may have difficulty improving their credit score fast enough, and others may not even want a credit card.

Found money is a gift. And with the internet, it’s easier than ever to find it.

Unclaimed assets may be sitting somewhere in your name, waiting for you to find and claim them. With some simple online searches, you can look for unclaimed money in seconds and possibly find a windfall.

Overspending is easy to do with a credit card – way too easy – and can often lead to debt.

Researchers have found that even for people who don’t carry a balance each month on their credit card, they overspend when using a credit card instead of cash. Credit cards can make people more willing to spend twice as much for something than they would when using cash.