The amount of student loan debt held by older Americans has increased in the last few years.

Report: Student Loan Debt Isn’t Just An Issue For Young Americans

When we talk about student loan debt it’s easy to picture a spry, young 20-something who is struggling to get out from under mountains of high-interest loans. But, as a new report points out, that’s not always the case, sometimes those who graduated even decades ago continue to struggle in paying back their student loans. [More]

Medical Debt Still Stinks, But New Credit Score Change Will Make It Hurt Your Life Less

Medical Debt Still Stinks, But New Credit Score Change Will Make It Hurt Your Life Less

Credit reporting behemoth FICO is making changes in the way it calculates credit scores. And for once, there’s some good news. The changes are expected to make it easier for most Americans to access credit — that is, to borrow money and take out loans — and will punish fewer consumers for incurring some debts that were out of their control. [More]

Parents Stuck With $200K In Student Loan Debt After Daughter Dies

Parents Stuck With $200K In Student Loan Debt After Daughter Dies

The last thing families want to deal with after the death of a loved one is a phone call reminding them of their departed’s debt. But that’s the case for a number of parents who have inherited the obligation to repay the student loans they co-signed for their deceased child. [More]

Study: One Third Of Americans Have Debt In Collections

Study: One Third Of Americans Have Debt In Collections

Sometimes debt isn’t so bad, and sometimes it is, but one thing is clear: 80% of Americans owe someone, somewhere, some money. It might be a mortgage or student loan, or a five-year-old fee that got forgotten about, but the vast majority of us have some outstanding debt. And worse: a third of the country may have debt collectors chasing after them for that cash. [More]

Illinois Files Suits Against Debt Settlement Companies That Allegedly Scammed Student Loan Borrowers

Illinois Files Suits Against Debt Settlement Companies That Allegedly Scammed Student Loan Borrowers

We already know that some debt settlement programs provide little relief for debtors, and consumers who contributed to the $1.2 trillion student loan debt tab appear to be the top target for these companies. Today, the Illinois Attorney General announced lawsuits against a pair of debt-settlement companies that targeted, and allegedly misled, student loan borrowers. [More]

Expected Bill Would Allow Private Student Loan Debt To Be Discharged In Bankruptcy

Expected Bill Would Allow Private Student Loan Debt To Be Discharged In Bankruptcy

If at first you don’t succeed, try again with a more drastic measure. Just two weeks after a bill to allow private student loan borrowers to refinance at lower interest rates failed to gain traction in the Senate, a new bill expected to be introduced this week takes things a step farther. [More]

Report: Millennials Feel Overwhelmed By Debt, But They See A Bright Future Ahead

Report: Millennials Feel Overwhelmed By Debt, But They See A Bright Future Ahead

In news that is in no way shocking, millennials say they are overwhelmed by debt. [More]

Bill To Allow Students To Refinance Private And Federal Loans Dies After Senate Debate

Bill To Allow Students To Refinance Private And Federal Loans Dies After Senate Debate

A bill to allow consumers to refinance their student loans to the rate currently being issued on new federal and private student loans succumbed to a painful death on the Senate floor Wednesday despite being championed by consumer advocates. [More]

Consumers Have Paid Down $32.5B In Credit Card Debt So Far This Year, But It’s Still Not Enough

Consumers Have Paid Down $32.5B In Credit Card Debt So Far This Year, But It’s Still Not Enough

While the economy may be bouncing back from the Great Recession, the rate in which consumers are able to pay off credit card debt continues to decline. [More]

Report: Debt Collectors Now Using Court System To Unfairly Force Consumers To Pay Up

Report: Debt Collectors Now Using Court System To Unfairly Force Consumers To Pay Up

Debt collection is a big business that doesn’t look to be shrinking anytime soon. But along with the rapid expansion of the industry, there has been an increase in abusive and predatory collection practices. One of those practices, obtaining default judgements against consumers, has led the Center for Responsible Lending to call for stricter regulations over the process of selling debt to collectors. [More]

FTC: Deceptive Debt Collectors Must Pay $3.3 Million In Consumer Refunds

FTC: Deceptive Debt Collectors Must Pay $3.3 Million In Consumer Refunds

We here at Consumerist are always a little happy when deceptive debt collection businesses get what’s coming to ‘em from the Federal Trade Commission. But those feelings grow exponentially when we find out said company will be forking over millions of dollars to refund abused consumers. [More]

Despite Regulations, Survivors Face Foreclosures After Reverse Mortgage Borrower’s Death

Despite Regulations, Survivors Face Foreclosures After Reverse Mortgage Borrower’s Death

There are a number of reasons someone might take out a reverse mortgage: to pay for prescriptions or medial care, to subsidize their daily living expenses or even to settle their fear of becoming a burden to their family. But the product that was designed to keep elderly consumers in their homes is now wreaking havoc on their surviving loved ones. [More]

As Many As 1-in-3 Student Loans May Be Delinquent

As Many As 1-in-3 Student Loans May Be Delinquent

Over the years, Consumerist has reported on student loans and the crippling impact their debt can have on recent graduates. But with rising tuition costs and financial aid opportunities becoming increasingly competitive it’s easy to see why student loans are a necessity for entering college. A new report claims that overall loan delinquency rates are declining, but a closer look at the numbers may reveal a problem that is much worse than previously believed. [More]

Some Banks Reward Private Student Loan Borrowers With Refinancing Options

Some Banks Reward Private Student Loan Borrowers With Refinancing Options

Recent college graduates face a number of barriers after getting their diplomas – finding a job, moving out on their own and paying back thousands of dollars in student loans. But now consumers struggling to pay back private student loans might find a bit of relief in new refinancing options from banks. [More]

More Shoppers Concerned About Getting Fat During The Holidays Than They Are About Going Into Debt

More Shoppers Concerned About Getting Fat During The Holidays Than They Are About Going Into Debt

For many Americans, the last two months of every calendar year inevitably involve eating too much and spending a lot of money. Given the still-choppy economic waters, you might think that consumers would be more concerned about their bottom lines before thinking about their waistlines, but you’d be wrong. [More]

(HelloWallet)

Americans Racking Up Debt Faster Than We Save For Retirement

This seems to be the week for sad news about Americans and our retirement-saving behavior. A new study shows that while we might be sticking money in our 401(k) plan like dutiful money squirrels, in general, Americans aren’t doing ourselves any favors for retirement as we rack up debt at a higher rate than we sock away money. [More]

How To Not Suck… At Getting Out Of Debt

How To Not Suck… At Getting Out Of Debt

You’re in debt and you know it. But (a brief pause, while I invoke my inner Jersey) whaddya gonna do about it? Credit card debt can seem like a never-ending spiral. As you try to pay it down, more interest charges accrue, and it seems your balance isn’t getting anywhere. Stop the bleeding already so that you can ultimately get back in the black. [More]

(thisisbossi)

Report: Student Debtors Under 30 Are Shying Away From Buying Homes, Cars

If life were a 1950s sitcom, college graduates would zoom out of school, get a job, buy a house, buy a car and get married. But these days, student loans are just one of many reason debtors under 30 are staying far away from the housing and auto markets. That, and life isn’t a sitcom. A new report from the Federal Reserve Bank of New York shows that this age group could be a drag on the economy by the very fact that they aren’t participating in it. [More]