DebtCC Buzz - Are children leaving their parents early due to financial problems?

Submitted by admin on Sat, 06/15/2013 - 17:00

Educate yourself: Financial problems are compelling kids to leave parents early.

Tough condition of the job market and escalating tuition fees create money problems for the parents. As per a recent survey, almost 26 percent of parents have to take fresh financial liabilities to fulfill various monetary requirements of the kids. Around 7 percent of parents have delayed retirement to meet the financial requirements of their kids. Some hapless parents are not even able to cater to the ever-increasing financial requirements of their children in spite of their best efforts. All these circumstances are compelling many children of the cash-strapped parents to leave parents early and search for jobs.

Tip of the month: Negotiate settlements with your creditors by yourself.

Negotiate with creditors to reduce your outstanding balance when debts are ruining your financial life. Give proper reasons to the creditors so that they agree to cut down your principal amount. Face your debt challenge yourself so that you can save dollars.

4 Best tips of the month

Include a 100-word statement on your credit report to elucidate the nature of your financial debacle. This may quench the hunger of creditors.
Find out who needs and doesnâ??t need your SSN. Reveal your Social Security Number only to those who really need it.
Overdrafting is a terrible habit. Check and record your banking transactions to avoid overdraft fees.
If you owe the IRS, it is a best to repay them as a matter of priority. A tax lien does not look good on your credit report.

500 tips...

Discussion of the month: FIA Card Services - What are the key complaints against them?

FIA Card Services, National Association, is a subsidiary unit of the Bank of America. They primarily process credit card accounts and collect payments from consumers on behalf of the Bank of America. Nevertheless, some consumers/customers are not happy with their services. Some customers have complained that FIA Card Services have made unauthorized withdrawals. The organization has also been accused of tapping personal accounts.

Featured Video: How does the DebtCC community help you?

Check out the video to know how DebtCC â?? Internetâ??s first get-out-of-debt community help you get simple but right solutions to your financial problems. The community offers debt calculators, personal budgeting application, sample debt letters, financial tips, and so on to the members. Other than that, it offers helpful information on the various debt relief options and ways to negotiate with the creditors/collection agencies. Besides, the community also has forums where people can share and discuss about their debt and credit problems.

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SoapLady - Joined on Sep 7, 2007
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