Your Money, Your Goals - A financial empowerment toolkit for social services programs.

(^) (^)  This means that if you have a mortgage and other debts—credit card payments, student loan payments, auto loan payment, ...

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Tool 3: Debt-reduction worksheet When it comes to reducing your debt, there are two basic strategies: Highest interest rate meth ...

There are other things you can do, too.  Call your creditors to see if they will lower your interest rates. If you have paid al ...

Lender Total amount borrowedAmount outstandingMonthlypayment Extra payment Monthly Duedate Date paid off infull This Tool is inc ...

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Tool 4: Student loan debt The CPFB has a section on its website dedicated entirely to helping you plan for ways to pay for posts ...

 Standard Repayment. Most borrowers start with this payment plan. This repayment plan has fixed payment of at least $50/month f ...

 During unemployment  During military services  During times of economic hardship, including Peace Corps service Forbearance ...

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Tool 5: When debt collectors call Ask for more information Before sending money or acknowledging the debt, ask the debt collecti ...

will restart the time period. You may want to consult an attorney or the applicable law in your state to know when the statute o ...

Example letter to a debt collector asking to verify the debt [Your name] [Your return address] [Date] [Debt collector name] [Deb ...

 If you are asking that I pay a debt that somebody else is or was required to pay, identify that person. Provide verification a ...

Details about your authority to collect this debt.  I would like more information about your firm before I discuss the debt wit ...

action. For example, you still might be sued or have the status of the debt reported to one or all of the three credit reporting ...

Resources Consumer.gov, Coping with Debt: http://www.consumer.ftc.gov/articles/0150-coping-debt MyCreditUnion.gov, Pocket Cents: ...

This tool is included in the Consumer Financial Protection Bureau’s toolkit. The CFPB has prepared this material as a resource f ...

MODULE 12: Understanding credit reports and scores What are credit reports? A credit report is a consumer report that looks at s ...

 Other service providers, like cell phone and utilities companies, may use them to screen you for deposit levels and cost of se ...