On this episode of the members only podcast, Jim and Bob discuss the shocking news that 40% of those with students loans are not making their payments. Jim shares some ideas and strategies for those with students loans in default. Also, what are the top IRS audit flags, and tips on picking a qualified tax preparer. Click Here Read more →


How To Get Student Loan Forgiveness

Student loan expert Jan Miller joins Jim Paris for a discussion on student loan forgiveness, student loan refinancing, student loan consolidation, and resolving a student loan default. If you have a student loan you don't want to miss this episode. Numerous strategies on how to lower payments and much more. Read more →


Gradible.com is offering a new way to pay off student loans. The site matches up businesses with freelancers. Freelancers are compensated with 'loan credits' that are used to pay down their student loan balance. Gradible says that typical work projects pay between $5 and $500 and most users earn more than $10 per hour. In addition to working off their student loan debt, Gradible says that the work projects will also give recent graduates valuable experience to will help to beef up their resume. Helping you make the most of God's money! James L. Paris Editor-In-Chief ChristianMoney.com Follow Me on... Read more →


Crowdfunding, for those that don't frequent the Interwebs, is a new way of raising money for your idea or creative project. Sites like Kickstarter are providing a platform for entrepreneurs to raise millions of dollars. Kickstarter has also become an extremely popular crowdfunding platform for Christian projects as well. Kickstarter has reportedly received over $1 billion in pledges from 5.7 million donors to fund 135,000 projects, which include films, music, stage shows, comics, journalism, video games, and food-related projects (Source: Wikipedia). What is truly unique about donation based crowdfunding is that you don't have to pay back the money since... Read more →


Student Loan Warnings

New News Podcasts with Jim Paris Live on BlogTalkRadio http://christianmoney.com Guest Alan Collinge of Student Loan Justice, joins Jim Paris Live. Alan is the author of 'The Student Loan Scam' and an activist for student loan reform. In this episode he discusses the balooning amount of student loan debt, now currently more than $1 trillion dollars in the United States. He also comments on rights that should be afforded to student loan borrowers. Student loans are not dischargable in bankruptcy, they are also not subject to statutes of limitations, or the Fair Debt Collection Practices Act. http://www.blogtalkradio.com/jameslparis/2013/10/11/student-loan-warnings Read more →


Peer To Peer Lending - Providing New Options To Borrowers And Investors

Peer To Peer Lending (P2P) is a new and unique way for individuals to borrow money and for investors to earn superior returns to CD's, savings accounts, and government bonds. An individual seeking a loan fills out an application at a P2P lending site such as Lending Club, Prosper, or Peerform. If their credit is approved, the loan is then funded by a group of investors. Based on the credit profile of the borrower, the interest rate will then be determined. Investors can receive returns from 5 -13 percent. Although the concept has been around for at least six years,... Read more →


Money Available To Expand Your Online Business

The concept of small business financing is one that gets people very excited. On the various national radio and TV shows I have hosted over the last 20 years this topic would be in the top two or three in popularity. Setting aside the urban legends, most small businesses can not obtain financing (especially in the current economic climate). To make matters worse, if you have an online business you may find it even more difficult to get a bank to understand your operation and take a chance on loaning to you. New Lender Offers Loans Strictly To Online Businesses... Read more →


What To Do When You Can't Make Your Car Payment

For those that can not afford their car payment there appears to be a new option; auto loan modification. The government is not involved (yet) and there is no special 800 hope number to call, but auto loan default rates are reaching levels where lenders are willing to make deals. A letter that I received this week from a young man just graduating from college outlined his desperate situation involving an auto loan with a 22 percent interest rate. To make matters worse, he owes $11,000 more on the vehicle than what it is worth. He literally sees no way... Read more →


Big Changes Coming For College Financial Aid Programs

Most people did not realize that major and sweeping changes to college financial aid were included in the recent health care law that was passed a few days ago. Why was college financial aid addressed in the the health care law? I am not sure, and can’t seem to find a reasonable answer anywhere. I guess the reason our elected representatives did this was because they could. I have personally given up on understanding the process by which laws are passed in Washington. As I did last week, I will offer you my analysis of these changes despite the fact... Read more →


5 Dangers Of Co-Signing A Loan

I received an e mail last week from a lady that was in a desperate situation. She had co-signed a student loan for a relative and had recently been notified that she must begin making a monthly payment of nearly $800 (since the student had defaulted). This is money she simply doesn’t have. While she thought she was doing a good deed helping a young person to obtain financing to go to college, she is now on the hook for nearly $10,000 per year in debt payments for the foreseeable future. "A person devoid of understanding shakes hands in a... Read more →


I Am Considering Taking A Loan Against My Retirement Account To Purchase A New Car, Is This Wise?

Many retirement accounts such as 401K’s provide a loan option which allows individuals to essentially borrow from themselves. Taking a loan against your 401K does have some downside. First, if you change jobs you would have to pay back that money within 60 days or the amount of the loan outstanding would be treated as a distribution to you. This would be taxed as regular income and may also be subject to a 10% penalty based on your age. saving the interest on what a loan would cost you, but you are also depleting the amount of money you have to invest.  If you... Read more →