Flying The Web For News.
  • Career Exam Study
    Career Exam Study
  • US Politics
    US Politics
  • E-commerce Guide
    E-commerce Guide
  • Dropshipping Guide
    Dropshipping Guide
  • Microsoft Exam
    Microsoft Exam
  • IT Career News
    IT Career News

Article Tools/Herramientas de artículos

+ Larger Font/Fuente más grande | - Smaller Font/Fuente más pequeña




Consumer Daily Reports

[unable to retrieve full-text content]

Experts share their checklists to help you decide whether you need help or not

By Gary Guthrie of ConsumerAffairs
August 26, 2024

Photo

If we were to have an honest conversation about your financial situation, would something like this come out of your mouth:

My anxiety is at an all time high and I dont know where I should turn. I have now accrued $18,500 in credit card debt with a 20% interest rate and Im trying to pay off $80,000 of my childs student loans. I have zero in savings and maybe $40 in my bank account. I dont know if Im a little in debt or a lot in debt, but I honestly dont know what to do.

So, tell the truth does ANY of that hit home? The stress? Not knowing if you can feasibly pay everything off or where you could go to get help?

Do you qualify as 'normal'when it comes to debt?

Americans are indeed up to their eyeballs in debt especially Millennials and GenXers. As of the second quarter of 2024, American households collectively carry a total debt of $17.8 trillion 42% more than tenyears ago.

While that $17 trillion is a lot, whats important is how much debt YOU carry and can manage. ConsumerAffairs research found that if you dont include mortgages in the equation, homeowners are approximately $68,571 in debt when everything is added up in these three categories:

  • Credit Card Debt: $14,805 per household without a mortgage.

  • Auto Loans: $20,519 per household without a mortgage.

  • Other Debts: Including personal loans, HELOCs, and other consumer debts, averaging around $33,247 per household without a mortgage.

But for households with a mortgage, that debt goes up about$260,000 more to approximately $330,000.

So, where do you match up --under or over?

Theres another way to peel this onion. A manageable level of household debt (excluding mortgages) generally depends on individual financial circumstances, but financial experts often recommend keeping non-mortgage debt payments below 20% of your monthly take-home pay. This includes credit card debt, auto loans, personal loans, and other consumer debts.

For example, if your monthly take-home pay is $5,000, your total non-mortgage debt payments should ideally not exceed $1,000 per month. This guideline helps ensure that you have enough income left for other essential expenses and savings.

Are you in 'real'debt or just need some guidance?

Numbers are one thing, but looking at them is not going to tell you whether youre really in debt or not, Howard Dvorkin, CPA, of Debt.com told ConsumerAffairs.

You just need to look inside yourself. Whatever that amount is, does it keep you up at night? Are you stressed out about your debt? Does it affect your mood? Your appetite?," he asked.

Most of us have pretty good gut feelings about our own lives, Dvorkin said. We know when were in trouble, even if we dont admit it to others. Debt isnt just a number; its a disease that ruins your quality of life. It is like any other addiction. If you drink socially, even if you overdo it every so often, it's a problem you can handle on your own.

But if you drink all day just to cope with life, then you need professional help. In this case, you need an experienced debt counselor. When you call a credit counseling agency or a debt solutions company, you should receive a free, in-depth debt analysis.

Every expense is reviewed, and the pro will likely recommend a proven program like debt management or debt settlement. Both programs pair you with professionals who walk you through the process and stay in touch the entire time, continues Dvorkin.

There's no shame in seeking professional help for any problem, and certainly not debt, he said.

Other warning signs

Still, it may take time to recognize the warning signs, and some can be subtle, suggests Josh Richnerat theNational Legal Center, and who specializes in areas like credit repair. From his experience, Richner believes that there are five real-world ifs that you may need to focus on your debt.

Turning to Credit Cards for Basic Necessities: If youre relying on credit cards to cover essential expenses like groceries or utilities, its a clear sign that debt is becoming a problem, Richner told ConsumerAffairs.

Growing Credit Card Balances: If youre trying to pay down debt but see your credit card balances increasing month after month, chalk up another warning sign that debt might be sneaking up on you.

Lowered Credit Limits: If your lender your credit card company, for example has lowered your credit limit, Richner says thats another sign that someone is seeing warning signs they dont like and theyre trying to limit their risk, another red flag that your debt levels are becoming concerning.

Maxed-Out Credit Limits: If youve maxed out or exceeded the limit on your credit card limits, its a clear sign that your debt is becoming too much and that you're close to running out of the available credit lenders will trust you with.

Credit Score Decreasing: If you notice your credit score dropping, it could be tied to your debt-to-available credit ratio, is the last of Richners warning signs. As your balances climb and your available credit diminishes, your credit score may take a hit, signaling worsening debt levels.



Photo Credit: Consumer Affairs News Department Images


Posted: 2024-08-26 11:39:29

Get Full News Story On Consumer Affairs



Listen to this article. Speaker link opens in a new window.
Text To Speech BETA Test Version.



More News From Current Category

Consumer News: Feds investigate rollaway risk in Ram pickups

Tue, 08 Jul 2025 19:07:09 +0000

Earlier recalls tried to solve the problem but may not have succeeded

By James R. Hood of ConsumerAffairs
July 8, 2025
  • Despite earlier recalls, the problem may still be occurring, with nearly 20 incidents reported.
  • The transmission may shift out of park without the driver pressing the brake pedal, the agency said.
  • About 1.2 million Ram trucks could be affected if another recall is ordered.

U.S. auto safety regulators have launched a new investigation into whether earlier recalls involving more than one million Ram pickup trucks sufficiently addressed a dangerous defect that can cause the vehicles to roll away unexpectedly.

The National Highway Traffic Safety Administration (NHTSA) said it has received at least 20 reports suggesting that the original recall repairs failed to fix the issue, leading to further incidents including six cases where seven people were injured and 12 incidents that resulted in a crash or fire.

At the center of the investigation is a flaw that may allow the trucks transmission to shift out of park without the driver pressing the brake pedal or even having the key in the ignition. Such a malfunction could let the truck move on its own, posing a significant risk to drivers and bystanders.

Scope of the investigation

The recall query announced by NHTSA covers roughly 1.2 million Ram pickups built between the 2013 and 2018 model years. The vehicles were subject to earlier safety recalls in 2017 and 2018 addressing this same issue.

In December 2017, Fiat Chrysler Automobiles (now part of Stellantis NV) recalled approximately 1.48 million Ram trucks under NHTSA recall number 17V821000, citing concerns that the brake transmission shift interlock (BTSI) could fail in high-temperature conditions.

According to the official recall notice, If the BTSI becomes inoperative, the shifter can be moved out of Park without depressing the brake pedal or having the key in the ignition. Being able to shift the transmission without the key in the ignition increases the risk of unintended vehicle movement, which may result in a crash and/or injury.

In February 2018, the company expanded the recall with NHTSA number 18V070000, adding certain 2017 Ram 1500 and 2500 trucks that were not included in the initial action.

Despite these recalls and dealer-performed repairs that involved replacing faulty BTSI components, NHTSAs ongoing reports indicate the defect might persist in some trucks.

NHTSA is opening this Recall Query investigation to understand the scope, frequency, and potential root causes of the additional rollaway incidents, the agency said in a notice posted this week.

Automaker Response

In a brief statement, Stellantis confirmed it is cooperating with NHTSA as the investigation proceeds but did not offer further details about any new corrective actions.

The outcome of the probe could determine whether Stellantis will be required to conduct yet another round of repairsor possibly expand the recall even further.

Ram trucks are among the most popular vehicles in the United States, meaning a widespread defect could have significant safety and financial implications for both the company and its customers. For now, drivers of affected models are urged to ensure their vehicles are on level ground and the parking brake is engaged whenever the truck is left unattended.


Read More ...


Consumer News: Alexa's alleged secret recordings get parent Amazon in trouble

Tue, 08 Jul 2025 19:07:09 +0000

Class action seeks damages and destruction of the recordings

By James R. Hood of ConsumerAffairs
July 8, 2025
  • A federal judge has ruled Alexa users nationwide can sue Amazon in a class action over privacy concerns.

  • Plaintiffs allege Amazon secretly recorded conversations beyond Alexas intended commands.

  • Amazon denies wrongdoing, saying Alexa has safeguards against accidental recordings.


Tens of millions of Amazon.com customers who use the tech giants popular Alexa voice service can move forward together in a nationwide class action lawsuit alleging that Amazon deceptively recorded and retained their private conversations, a federal judge in Seattle ruled on Monday.

U.S. District Judge Robert Lasnik found that Alexa users met the legal standard to sue as a group, both for potential monetary damages and for a court order aimed at halting the alleged privacy violations.

The fact that millions of people were allegedly injured by the same conduct suggests that representative litigation is the only way to both adjudicate related claims and avoid overwhelming the courts, Lasnik wrote in his decision.

Secret conversations alleged

The lawsuit, originally filed in 2021, accuses Amazon of violating Washington states consumer protection law by failing to disclose that it retained and used Alexa recordings for commercial purposes. According to the plaintiffs, Amazon designed Alexa to illegally and surreptitiously intercept billions of private conversations extending well beyond the voice commands users intentionally direct at their devices.

Amazon has denied any wrongdoing. The company contends theres no evidence that Alexa ever captured any plaintiffs conversation or other communication and insists that it built the technology with safeguards to avoid accidental activation and unintended recordings.

Data destruction sought

Alongside financial damages, the plaintiffs are seeking a court order compelling Amazon to destroy any recordings or data already collected under the alleged scheme. The class action could expose Amazon to significant legal liability, given the potential scale involving millions of Alexa users across the country.

Judge Lasniks ruling also addressed the plaintiffs request to certify additional classes, including individuals in California and other states who may have lived with Alexa device owners, though details on those requests were not immediately finalized.


Read More ...


Consumer News: TSA ending shoes-off rule for air travel

Tue, 08 Jul 2025 16:07:08 +0000

It's been nearly two decades since the 'shoe bomber' incident

By Truman Lewis of ConsumerAffairs
July 8, 2025

  • Nearly two decades after the shoe bomber, passengers may soon keep footwear on at security checkpoints

  • TSA quietly tests changes amid ongoing complaints about travel hassles

  • Move could ease long lines and boost traveler satisfaction at U.S. airports


Travelers weary of peeling off their shoes at airport security may finally get some relief. The Transportation Security Administration is preparing to roll out new procedures that would allow passengers to keep their shoes on while passing through standard screening checkpoints, according to people familiar with the plans.

The shift, first reported by Gate Access, a travel newsletter, hasnt been formally announced, but signals a significant change for an agency that has kept the footwear rule in place for nearly 20 years. The TSA confirmed in a statement that it is always exploring new and innovative ways to enhance the passenger experience and our strong security posture, but added that any official updates would come through established channels.

A rule rooted in terror threats

The practice of removing shoes at airport security took hold after Richard Reid, infamously dubbed the shoe bomber, tried to ignite explosives hidden in his footwear during a 2001 flight from Paris to Miami. The attempt, though unsuccessful, sparked fears of similar plots in the tense aftermath of the September 11 terrorist attacks.

Initially, shoe-screening policies varied from airport to airport. It wasnt until 2006 that the TSA formally mandated shoe removal for all passengers, citing intelligence about a continuing threat. The rule became one of the most unpopular travel measures, blamed for slowing down lines and subjecting millions of passengers to the indignity of walking barefoot or in socks through security checkpoints.

Complaints and exemptions

Frustration over the shoe rule has fueled interest in TSA PreCheck, the trusted-traveler program that lets members keep their shoes on during screening. Children 12 and under and passengers 75 and older have also been exempt from the requirement.

In April, Transportation Secretary Sean Duffy took to social media to crowdsource ideas on improving family travel. He later posted that its very clear that TSA is the #1 travel complaint.

If the planned change takes effect, it could dramatically improve the security experience for millions of travelersending one of the most visible legacies of post-9/11 aviation security.


Read More ...


Consumer News: How will Trump's No-Tax-on-Tips law work?

Tue, 08 Jul 2025 16:07:08 +0000

No one seems to know, least of all the IRS

By Truman Lewis of ConsumerAffairs
July 8, 2025
  • New law exempts up to $25,000 in tips from federal taxes, delivering on Trumps campaign pledge
  • Unclear rules leave workers and employers guessing which tipsand jobsqualify

  • IRS braces for administrative chaos amid staffing shortages and technological demands


A hallmark promise from Donald Trumps presidential campaign is now law, granting tipped workers a significant tax break. But even before the ink has dried, the new measure is sowing confusion across the service industry and posing major logistical challenges for the Internal Revenue Service.

Under the legislation, workers in jobs that customarily and regularly receive tips can exclude up to $25,000 in annual tip income from federal taxes.

The intent is to boost take-home pay for millions of restaurant servers, bartenders, hotel staff, and others who rely on customer gratuities. Yet critical details remain unresolved particularly around which tips count under the law and which workers are truly eligible.

Electronic tips in limbo

One of the thorniest questions is whether tips made via digital apps like Venmo, PayPal, and Cash App fall under the exemption. The statute refers specifically to cash tips, leaving ambiguity over electronic payments, which have become the norm in many businesses.

Historically, the IRS has treated electronic tips as taxable income, making the laws narrow language a potential flashpoint in future tax filings.

Businesses eye classification changes

Employers, meanwhile, are grappling with how the new tax rules might reshape hiring and compensation practices. Some labor experts warn that businesses could attempt to classify more positions as tipped to capitalize on the tax savings, potentially blurring legal lines under labor laws that strictly define which roles are tip-eligible.

Federal wage laws permit employers to pay tipped workers as little as $2.13 an hour if they receive at least $30 a month in tips and ultimately earn the full federal minimum wage once gratuities are counted.

Businesses can also establish tip pools, but those pools face limits on which workers can participate without requiring employers to pay higher base wages.

IRS faces hurdles

For the IRS, the new law comes at a time of significant internal strain. Agency officials are warning that implementing the tax break will demand major updates to systems and processes, even as the IRS contends with an aging workforce and a potential exodus of experienced employees. Roughly 22% of the IRSs customer service staff and 27% of its technology workforce are expected to leave by years end.

If theres any significant tax law changeand Im not talking just about extenders but certain types of income not being taxablethat is going to introduce a tremendous amount of challenge that people need to be thinking about in terms of systems that we need to update, said Doug ODonnell, former acting IRS Commissioner, in a Bloomberg News report.

Until clear IRS guidance arrives, the burden of properly tracking and reporting tips will fall on workers and businesses alike an arrangement that risks costly mistakes, audits, and lost tax savings.

While Trumps no-tax-on-tips pledge sailed through Congress on a wave of political enthusiasm, the real-world path to delivering relief to workers is proving far more complex and could leave many service industry employees in limbo as the next tax season approaches.


Read More ...


Consumer News: Despite soft sales, home prices keep hitting record highs

Tue, 08 Jul 2025 16:07:07 +0000

The median home price is over $400,000, putting it out of reach for many buyers

By Mark Huffman of ConsumerAffairs
July 8, 2025
  • U.S. median home-sale price reaches a record $400,125 amid declining mortgage rates

  • Buyer demand remains resilient despite a slight dip in new listings and pending sales

  • Touring activity and mortgage applications climb, offering signs of market stabilization


The median U.S. home-sale price surged to a record-breaking $400,125 during the four weeks ending June 29, according to a new housing market update from real estate brokerage Redfin. While the new high underscores ongoing market pressures, prospective homebuyers may find some solace as mortgage rates continue their downward trend.

Mortgage rates have eased in recent weeks, helping offset the impact of higher home prices. The weekly average 30-year fixed mortgage rate dropped to 6.67% as of July 3, the lowest it has been since early April. Daily rates hovered slightly higher at 6.75%.

This reduction in borrowing costs has resulted in the median monthly mortgage payment falling to $2,742 the lowest level in four months and a modest 1.6% decrease year-over-year.

Demand and supply hold steady

Despite affordability challenges, homebuyer demand remains relatively strong:

  • Mortgage-purchase applications rose 16% year-over-year, though they held flat week-over-week.

  • Home touring activity, tracked by ShowingTime, climbed 32% from the beginning of the year notably higher than the 21% increase recorded at the same time last year.

  • Google searches for home for sale reached their highest level in a year, suggesting sustained buyer interest.

However, pending sales a key indicator of market activity dropped 3.2% from the same time last year, marking the sharpest decline in nearly four months. This dip may reflect hesitancy among buyers still facing affordability constraints, despite improving rate conditions.

Sellers begin to change their minds

New listings edged down 0.7%, the first weekly decline in nearly six months, while the total number of active listings rose 14.1% year-over-year the smallest increase in over a year. The market's inventory now sits at 4.1 months of supply, inching toward a balanced market but still favoring sellers slightly.

Homes are staying on the market longer, with the median days on market rising to 37 days, up five days from the prior year. Additionally, only 36.3% of homes went off the market within two weeks, down from 40% a year ago.

Fewer bidding wars

With increased inventory and longer market times, competition among buyers has cooled slightly. The share of homes selling above list price dropped to 28.4%, down from 32%, while the average sale-to-list price ratio slipped to 99.1%, from 99.6% a year ago.

Market dynamics varied significantly by region:

  • Detroit led all metros with a 10.1% year-over-year increase in median sale price, followed by Newark, N.J. (9.4%) and Cleveland (7.3%).

  • On the flip side, Oakland, Calif., saw the largest decline at -3.7%, with San Diego and West Palm Beach, Fla., close behind at -3.4%.

  • Virginia Beach, Va., led in pending sales growth (+7.4%), while San Jose, Calif., and Las Vegas saw steep double-digit declines.

  • Tampa, Orlando and San Diego were among the metros with the largest year-over-year drop in new listings.


Read More ...


Blow Us A Whistle




Related Product Search/Búsqueda de productos relacionados