Money Talk

By Liz Pulliam Weston

Illness Doesn't Excuse Credit Card Spree

In the fall of 2002, I was diagnosed with HIV. After the initial shock wore off, I quit my job and went on a wild spending spree... When that money ran out, I got started on my credit cards. Now, almost six years later, I am still completely healthy, still unemployed and have $75,000 in credit card debt...

How To 'Restart' Social Security Benefits

I read that people who took Social Security payments early – before their full retirement age – could later opt to pay back their benefits and qualify for a higher payment based on their current age... Can you really start over with Social Security?

No Quick Fix For Low Credit Score

My credit is not so good. My FICO credit scores are all around 575. I am trying to correct this but don't know what to do to make a quick fix. I've been on time with my mortgage and credit card payments lately, but I have three cards with $500 limits that are all maxed out...

Pitfall In This Saving Strategy

I'm self-employed and have a Simplified Employee Pension account. Every year, I borrow from an equity line to contribute the maximum to this account. My wife questions whether we are ahead by doing this. I say yes... Is this a good plan?

Starting Out With A Strategy

I've just graduated from college and landed a good job with a steady income. I contribute 10 percent of my salary to a 401(k) and my company contributes an additional four percent. My money is in a target-date retirement fund that matures in 2040. What's my next step?

Fighting An Unethical Debt Collector

I think I'm being pursued illegally for a debt I don't owe... I just received another call, and the caller threatened to put this debt on my credit report if I don't pay. What is going on here? Is this fraud?

Groups Can Help You Keep Your Home

I purchased my first home in December 2006 with no down payment, and closing costs were included in an adjustable-rate mortgage. The payment is already high and set to go even higher at the end of the year... Are there any options except foreclosure? Should I just lose the house?

No Need For Frilly Life Insurance Policy

I'm looking for options to finance college for our four children, ages 13 through 19. One financial planner I've contacted is recommending cashing out equity in my house (potentially $180,000) along with using other assets worth $100,000 to buy a fixed-rate, cash-value universal life policy... Do you recommend this strategy?

Tax Form Can Help In Divorce

I have been divorced for a few years. The divorce decree says I get to claim my daughter as a dependent and my ex is supposed to claim my son. The problem is that my ex beats me to the tax man every year and claims both children. What can I do to stop this?

Strive For Excellent But Not 'Perfect' Credit Score

My wife and I have been married 26 years, have had probably 30 or 40 different credit accounts in that time, including many cars, home loans, credit cards of all sorts and have never missed a payment or reneged on a loan. Yet, our scores are still only in the 80th percentile...

Clarifying Tax Rebate Confusion

I'm confused about the upcoming tax rebate. In some articles, the rebate is described as an advance on next year's refund. In others, experts say the rebate won't affect my refund. Which is correct?

Old Debts Can Continue To Haunt

A debt I owe is appearing as two debts to two different companies on my credit report. One is the original company and the other is a collection agency. Can credit bureaus do that, and what happens if I don't pay either of them?

Protecting Your Credit In A Divorce

I'm getting a divorce, and my soon-to-be ex-wife has stopped making payments on a car loan that's in my name… If the car gets repossessed, will that affect my almost-perfect credit and will I be able to get that off my credit history after the court settles our divorce?

Long-Term Care Policies Are Regulated

I keep reading that it's smart to get long-term care insurance ahead of retirement, so I called a highly reputable insurance company. I was shocked to learn that they are allowed to raise rates at any time, even though the dollar amount of the maximum daily benefit is fixed, and the decision as to whether to pay a claim is entirely up to the company. Why would anyone buy a policy like this?

Finding The Right Tax Preparer

Last year I had to find a new accountant to prepare my taxes and was charged a small fortune… Before tax season really is upon us, how do I find a good, honest accountant I can trust and who will charge me a fair rate?