Melissa Cook

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Avatar for AnonymousWeb Content Writer @ Americor
Melissa has a degree in English and marketing from University of California Irvine. She is a creative and accomplished content writer and editor with comprehensive experience developing rich, compelling content for a variety of websites. With her expertise in writing a broad range of content, combined with outstanding interpersonal skills and commitment to exploring innovative ideas, Melissa has done an excellent job developing content for blogs, articles, social media, and the company website. When she is not writing, Melissa spends most of her time cooking, traveling the world, and catching her favorite Broadway shows.

fair debt collection act
All you Need to Know About The Fair Debt Collection Practices Act

The Fair Debt Collection Practices Act (FDCPA) is a federal law that regulates the behavior of debt collectors and provides consumers with protection from abusive, deceptive, and unfair debt collection practices.

Jan 30, 2023
fair market value
Fair market value (FMV)

Fair market value (FMV) is the price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts. 

Jan 30, 2023
insolvency
Insolvency

Insolvency refers to the state of being unable to pay debts as they come due. It is a financial term that is often used to describe a company or individual that is facing financial difficulties and is unable to meet its financial obligations.

Jan 30, 2023
debtor
Debtor

A debtor is an individual or entity that owes money to another individual or entity. In the context of financial transactions, a debtor is a person or organization that has borrowed money and is required to repay the loan, along with any interest or additional charges, at a later date.

Jan 23, 2023
medical bills
What is the Medical Debt Relief Act?

It’s no secret that healthcare costs in the U.S. have become staggeringly high over the last decade, making it difficult for the average person to afford and pay off medical debt.

Jan 17, 2023
debt collectors
What is a Debt Collector?

A debt collector is an entity that tracks down and collects payments on overdue debts. A debt collector may be an attorney, a credit collection agency, or even the original creditor, depending on the situation.

Jan 17, 2023
reading contract
The Truth in Lending Act

The Truth in Lending Act (also known as the TILA) is designed to promote the informed use of consumer credit. It requires lenders to provide customers with clear and accurate information regarding loan terms and conditions, such as interest rates, fees, repayment schedules, prepayment penalties, and total cost of borrowing.

Jan 17, 2023
secured loan
Secured Loan

A secured loan is a type of loan that is backed by collateral, which is an asset that the borrower pledges as security for the loan. This collateral serves as a guarantee for the lender that they will be able to recover their funds if the borrower defaults on the loan.

Jan 5, 2023
annual percentage rate
Annual Percentage Rate

An annual percentage rate (APR) is a measure of the cost of borrowing money, expressed as a yearly interest rate. It is typically used to compare different loan or credit products, as it takes into account not only the interest rate charged on a loan, but also any fees or additional charges that may be associated with the loan.

Jan 5, 2023
delinquent debt
What is Delinquent Debt?

Delinquent debt is a term used to describe debt that has not been paid on time, or even at all.

Dec 5, 2022
forbearance
What is Forbearance?

Forbearance is when a creditworthy borrower faces temporary hardship and is unable to meet their obligations, the lender may decide to refrain from collecting on the debt. Forbearance allows the borrower additional time to repay the debt.

Dec 5, 2022
dependent
Dependent

A dependent is someone who relies on another individual for the financial support they need to meet their basic expenses. An individual can be a dependent of different people throughout their life, such as parents, spouses, partners, or even employers.

Nov 30, 2022
The word liquidation is printed on the red page.
Liquidation

Liquidation is a process in which assets of a company are sold off to settle its debts.

Nov 30, 2022
Debt Consolidation
Debt Consolidation

Debt consolidation is the process of combining all your debt (credit card, mortgage, student loan) into one monthly payment. A consolidated debt is paid off with a single loan.

Nov 21, 2022
credit report
What is a Credit Report?

A credit report is a detailed record of an individual’s credit history, including their past and current loans and payment habits. This information is used by lenders to determine an individual’s creditworthiness when applying for loans or other forms of credit.

Nov 21, 2022
liability
Liability

In finance, liability refers to an obligation or debt that an individual or company is responsible for repaying. This can include items such as loans, credit card debt, and unpaid taxes. Liabilities must be managed carefully in order to maintain financial stability and avoid defaulting on payments.

Nov 16, 2022
FICO
What is a FICO Score?

A FICO (Fair Isaac Corporation) Score is a measure of creditworthiness, calculated using information from the consumer’s credit report.

Nov 16, 2022
Student Loan
Average Student Loan Debt in the US: Statistics & Facts

Over the last decade, the price tag of a college education has continued to climb higher and higher. So much so that it has become a hot topic in recent years, with politicians and experts proposing various solutions to address the problem. Proposed solutions range from forgiving all student loan debt to implementing income-based repayment plans. However, finding a fair and effective solution continues to be a challenge. 

Nov 14, 2022
Mortgage
What is a Mortgage?

A mortgage is a loan used to purchase a property. The borrower makes monthly payments toward the loan, which go towards paying off the principal amount borrowed as well as interest on the loan.

Nov 7, 2022
What is an FHA Loan?
What is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration. This type of loan allows for lower credit scores and a higher debt-to-income ratio compared to conventional loans.

Nov 7, 2022
Credit SCore
What is a Credit Score?

A credit score is a numeric representation of an individual’s creditworthiness. It is calculated using information from the individual’s credit history, such as past loan and credit card payments.

Nov 7, 2022
Paycheck protection program ppp loan for small business forgiveness application.
What is a PPP loan?

A PPP loan, also known as a Paycheck Protection Program loan, is a type of loan offered through the Small Business Administration (SBA) designed to help small businesses with payroll and certain other expenses during the COVID-19 pandemic.

Nov 6, 2022
Money Management
Money Management: 4 Tips for Mastering Your Finances

Mastering your finances might sound like a daunting journey. However, every day you wait, debt and poor spending decisions compound and make the path to mastery all the more difficult. Fortunately, wise financial choices made sooner also compound, ensuring a bright financial future. Here are 4 tips to help you manage your money.

Oct 26, 2022
Debt Settlement
Debt settlement: Will it work for me?

If you are struggling with managing your debt, you are not alone. Millions of Americans are looking for debt solutions, and debt settlement is one such popular solution. This article will help you determine if debt settlement is right for you.

Jul 22, 2022
Average Credit Score by State
Average Credit Score by State: How Does Yours Stack Up?

As part of their annual study, Experian surveyed today’s consumer credit behaviors ― including how credit scores compare among the 50 states.

Jul 12, 2022
Credit Score Business Concept For Profile Data With Team Analyze
The Anatomy of a Credit Score – Understanding the Complicated Credit Scoring System

Credit scores are so misunderstood and generally regarded as a de facto measurement of borrowing strength. Also, many consumers misguidedly assume that credit scores include income, assets, or net worth in their calculations. We have prepared this guide to help clear up the muddle and help everyone become smarter about credit scores.

Jun 7, 2022
Sad Confused And Stressed Young Asian Man Holding Credit Cards
Americans Are Accumulating Credit Card Debt at Record Rates

The Federal Reserve reports that as of March 2022, consumer debt is up to over $52 billion. Credit card debt surged
by over 21 percent as card companies have increased interest rates and fees. Read on to learn why americans are accumulating credit card debt at record rates.

Jun 3, 2022
Real Estate Agent With House Model And Keys
Tips on Buying a Home After Debt Settlement

If you’re working out your money management problems through debt settlement, congratulations! Settling debt gives you a clean slate to start new. Here are 5 tips on buying a home after debt settlement.

May 11, 2022
Midsection Of Young Female Doctor Holding Piggybank In Clinic
How to keep your mental, physical, and financial health on track

It is ever more important to make sure you are keeping your mental, physical, and financial health on track. With the added stress of seeing your dollars dwindle and your debt mounting, it becomes very easy to let your mental, physical, and financial health go by the wayside. Once one aspect of your health(?) tumbles, the others follow. Here are ways to keep your mental, physical, and financial health on track.

Apr 28, 2022
Filing Federal Taxes For A Refund - Tax Form Currency
5 Smart Ways to Use Your Tax Refund This Year

How you should spend your tax refund largely depends on your unique circumstances. Still, there are a handful of uses of the money that could make sense this year. Here are 5 smart ways to use your tax refund this year.

Apr 21, 2022
Couple Signing Contract. Legal Document Health Insurance Paper Or Bank
5 Things Not to Do During Debt Settlement

If you are considering debt settlement, there are some things you should definitely keep in mind to ensure the process plays out smoothly and allows you to get your financial life back on track.

Apr 18, 2022
Afro Woman With Problem Using Credit Card For Online Shopping
3 Reasons Why People Stay in Debt – And How to Fix It

How do families end up drowning in debt for years? The answer may surprise you. Read on to discover the top 3 reasons why people stay in debt and get solutions to these common problems.

Apr 14, 2022
Sad Depressed Man Checking Bills Anxiety About Debt Or Bankruptcy
Ways to Relieve Anxiety from Debt

The emotional distress of dealing with debt can result from having your car repossessed, getting your electricity/water cut off, or watching helplessly as your credit score plunges to a place of no return. Here are ways to relieve anxiety from debt.

Mar 30, 2022
Debt Settlement
When is Debt Settlement a Good Option?

It’s possible that you’ve reached a point where it’s just not possible to pay off your debt. Maybe you’ve been laid off or taken a pay hit, received a large medical bill or had an unexpected emergency expense. Whatever the reason, one option is debt settlement.

Mar 21, 2022
Black Plate With Debt Settlement Vs Bankruptcy Question.
Debt settlement vs. Bankruptcy—Pros and Cons

Filing for bankruptcy can often seem like the easier way out of unpayable debt. However, it has severe, long-term effects that are almost impossible to correct. Debt settlement, on the other hand, can be a more optimal solution for many—read on to find out the pros and cons of each option.

Feb 7, 2022
Credit Cards And Banknote
American Credit Card Debt Continues to Soar

Soaring American Credit Debt: Credit card debt is in dangerous territory. How dangerous? Let’s put it this way: Our total plastic balance is very near recession level. Read on to learn more.

Feb 2, 2022
Online Credit Score Check Using Tablet Computer
How to Maintain a Clean Credit Score

Almost every US citizen knows their Social Security number by heart, even if it’s a meaningless series of digits, but too few of us know our credit scores. Your credit score has a profound effect on your finances and future – and everyone should know their score and more importantly work on improving it. So how does a consumer make his or her score go up? Here are a few tips.

Jan 27, 2022
House and Money
What’s a home equity loan?

After years of making payments on a home mortgage, the home starts to build equity. A home equity loan is when the homeowner takes out a loan using the home as an asset to get a lower interest rate.

Sep 18, 2020
Debt consolidation
Debt Consolidation: What is it?

The purpose of consolidation is to get a lower interest rate so you can pay off your debts faster and for less money. Most people start looking for consolidation loans when they find themselves only being able to make minimum payments on their cards.

Sep 18, 2020
Write a debt settlement letter
How to Write a Debt Settlement Letter

Writing a debt settlement letter can be a tricky process for a beginner. This process involves creating an attractive pitch to a creditor that your settlement is worthy enough for them to wipe out your debt balance. Here are a few tips to follow[…]

Feb 14, 2020
Avoid Holiday Debt
4 Tips to Avoid Holiday Credit Card Debt

During the Christmas season the average American household’s credit card debt spikes up – and largely stays up. According to NerdWallet’s 2017 Consumer Holiday Shopping Report, gift-buying Americans planned to spend $660 on average, which[…]

Oct 2, 2018
Debt After Death
What Happens to Your Debt After Death?

We humans spend an inordinate amount of our lives worrying about death. Increasingly, Americans are concerned financially about their families after their demise. According to the Federal Reserve, leaving your family with big bills could be more of a problem now than ever: household debt recently hit a record high of $13.29 trillion. Everyone should […]

Aug 22, 2018
Millennials in Debt
Why Are So Many Millennials in Debt? The Hip but Ugly Truth

Millennials are known for their love of travel, social media, and avocado toast. But increasingly America’s millennials are being defined by debt. Since they are now the country’s largest generation—83.1 million people, according to the US Census Bureau—the millennial debt crisis is a national issue. Millennials are the most indebted generation in history. A quarter of all […]

Aug 15, 2018
Credit Debt and Society
The Cost of Carrying Credit Card Debt to Society

Before we discuss those societal costs, however, some context is needed. American consumers these days have much easier access to plastic. Credit access dipped sharply since the height of the Great Recession but has climbed steadily since. As a result, America’s collective credit card tab has also grown within the same period — to the tune of $834 billion as of the fourth quarter of 2017. That figure is now just over $30 billion away from the highest total ever recorded, at the end of 2008.

May 11, 2018
Credit Cards Encourage Overspending
Credit Cards Are Encouraging You to Overspend

If you think that a credit card can’t “force” you to overspend, you’re both right and wrong. People are ultimately responsible for the choices they make; that’s true. But decades of research have found that people aren’t always completely in control when using cards instead of cash.

Apr 20, 2018

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