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Bankruptcies not a problem locally

Dave Mabell

LETHBRIDGE HERALD

dmabell@lethbridgeherald.com

As oil prices fall, many Albertans financial pressures increase.

Some consumers are already filing for protection from their creditors, as the provinces energy industry spins through yet another boom-and-bust cycle.

But most Lethbridge-area businesses and families have remained relatively unaffected, a local bankruptcy trustee reports. And if they get in trouble financially, more consumers are filing repayment proposals rather than declaring themselves bankrupt.

Randy Kobbert, a trustee at the MNP office here, reports Lethbridge isnt yet feeling significant impacts from continuing...

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One of the most boring classes I took in high school ended up being the most …

Recently, I wrote about the fact that more and more high schools are making financial literacy a graduation requirement.

I went to one of those schools.

My home state, Rhode Island, doesnt require students to take personal finance classes.

But the private school I attended held mandatory assemblies for juniors and seniors throughout the year where wed learn about money.

A representative from a local bank would teach us about how to set goals, create a budget, and build credit.

We learned about the difference between stocks and mutual funds, what it means to have a high insurance deductible, and how to avoid identity theft.

At the time, I didnt take...

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Insuring children against severe illness

Istockphoto

This article was first published in the first-quarter 2015 edition of Personal Finance magazine.

If you could custom-design an assurance policy that protected you financially from the consequences of your child contracting a severe illness or sustaining a debilitating injury, what would you want it to cover?

Foremost on most people’s minds would be expenses not covered by their medical scheme. If your child had congenital defects that required multiple operations to correct, or contracted cancer, or perhaps sustained burns that required reconstructive surgery running to hundreds of thousands of rands, your medical scheme...

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Is Clinton Preparing to Propose Debt-Free College?

For weeks, there has been speculation that Hillary Clinton was preparing a plan to promote debt-free college. That speculation really took off Wednesday when Robby Mook, Clinton#39;s campaign manager, referenced the idea in an interview with CNBC. Asked about how Clinton would appeal to younger voters, Mook said, What voters are looking for in this election is someone whos going to be a champion for everyday people. For young people thats debt-free college, thats finding that job after you graduate. Representatives of Clinton#39;s campaign declined to say to Politico that Mook#39;s statement represented an official campaign endorsement of the policy, but said that Clinton would be releasing...

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6 Tricks To Getting A Great Mortgage Rate

Getting a great rate on a mortgage is about a lot more than comparison shopping. It’s also about much more than just your credit score. In fact, the mortgage industry examines a number of factors to determine not only if you qualify for a mortgage, but also what interest rate you’ll pay.

There’s a lot at stake. Mortgage rates can vary by several percentage points depending on the factors we’ll look at below. The difference can mean a much higher or lower monthly payment and tens of thousands of dollars in interest payments over the life of the loan.

If you hope to get the best mortgage rates possible, you’ll need to make sure that you are well-qualified....

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Boone Pickens: Hillary Clinton will drop out of 2016 race





Noted oil and gas man T. Boone Pickens isn’t shy about his feelings on Washington, and he didn’t hold...

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4 Reward Credit Cards That Were Too Good to Last

Once of the biggest allures in life is scarcity, as we all want what we cant get. In the extremely competitive world of credit cards, there have been banks that haveĀ gone a bit too far, and offered products with rewards that were so generous as to be unsustainable. In other cases, there have been some great credit card offers that never quite gained traction and were pulled from the market.

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Mortgage Delinquency Rate Falls to 5.54% in First Quarter

The percentage of homeowners falling behind on their mortgages in the first quarter fell to its lowest level since mid-2007, while some states continue to struggle to work through a large inventory of loans in foreclosure.

At the end of the first quarter, about 5.54% of loans were at least one payment past due after adjusting for seasonal factors, according to the Mortgage Bankers Association, an industry group. That was down from…

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Study: More people regretting decisions about paying for college

PHOENIX (KPHO/KTVK) –

No one likes to live with regret, but more people are feeling it when it comes to how they paid for college.

According to the American Institute of CPAs, 84 percent of the people they surveyed had at least one regret about college – for example, where they went, or how they paid for it. Thirty-five percent said they would have waited to start college to save money and avoid taking out loans.

I only took out a $5,000 loan this semester, but itll accumulate over the years because Im going to have to take over more loans, said ASU student Krista Tillman.

She is moving out of the dorms and back home to save money.

Im going to be working...

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Reverse Mortgage Policy Leaves Widows, Widowers Homeless

Monkey Business Images

By Juliette Fairley

Karen Hunziker was 60 when her husband, Charles, secured a reverse mortgage on their Pollock Pines, Californina, home. At the time, Hunziker was advised by the mortgage broker to remove her name from the title to qualify for the loan. We were both very concerned that I could be giving up my property rights, but the salesperson assured us I would be protected until 62 years old, when I would be put on the title, said Hunziker.

However when she turned 62, Hunziker and her husband were informed by an attorney that the only way she could be on the title...