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Why you should consider credit card debt forgiveness before June

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A credit card debt forgiveness program could reduce your monthly credit card expense and the total amount of money you owe. 

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Have you heard about credit card debt forgiveness? These programs work with your lenders to cut your credit card balances in an attempt to offer you relief from overwhelming debt. And, if you owe $7,500 or more in credit card debt and you’re having a hard time making your payments, you may be a strong candidate for forgiveness

If that’s the case for you, you may want to act quickly. After all, overwhelming credit card debt doesn’t typically get rid of itself and the longer you stay in debt, the more money it will cost you. In fact, there are multiple timely reasons why it may be wise to enroll in a debt forgiveness program before June. 

Find out how much relief a credit card debt forgiveness program can provide now

Why you should consider credit card debt forgiveness before June

Here are three reasons why you should consider a credit card debt forgiveness program before June:

Interest rates could rise

April’s inflation data showed that price growth had cooled when compared to March. April’s inflation rate was 3.4%, down from the 3.5% inflation rate in March. But, April still saw price growth at a much faster rate than the Federal Reserve would like to see. That could pose a problem for those who are already having a hard time making their credit card minimum payments. 

That’s because the Federal Reserve’s response to high inflation is typically to increase its federal funds rate. That may be bad news for borrowers as any hikes to the federal funds rate could result in higher interest rates and minimum payments on credit cards and other lending products. But, if you start your credit card debt forgiveness journey now, you may be able to avoid any potentially higher interest rates and payments in the future. 

Avoid future rate hikes and growing credit card payments with credit card debt forgiveness today

The increasing cost of living may continue

Inflation doesn’t just have an impact on the monthly cost of your credit card debt, it plays a role in the cost of goods and services too. So, while high inflation may push the cost of credit card debt up in the future, it has already increased the cost of living – a trend that may continue. 

That means your credit card debt may become even more challenging to deal with if you don’t do something to address it now. After all, rising prices for things like food, gas, shelter and more will only make it more difficult to make your credit card payments on time. 

“As cost of living and inflation continues to impact Americans, a debt forgiveness program can help,” explains Dawn-Marie Joseph, founder of the financial planning firm, Estate Planning & Preservation. After all, these programs may help reduce your monthly payments and the total amount of money you owe to credit card companies. “These are good programs for someone who has difficulty keeping up with high payments, is being hit with high fees, and has several credit cards with revolving debt.”

Your financial hardship could result in bankruptcy if left unchecked

If you’re dealing with financial hardship, that hardship may only get worse if you leave it unchecked. With prices continually rising and high interest rates pushing credit card minimum payments up, it may only get harder to make ends meet. And, that could eventually result in bankruptcy. 

On the other hand, if you enroll in a debt forgiveness program now, you could realize a meaningful reduction in the amount of money you need to pay toward your credit card debt each month. In turn, lower monthly payments could mean you have more money in your budget to address the higher cost of goods and services, potentially helping you avert bankruptcy

The bottom line

As the cost of living rises and high interest rates and minimum payments weigh on those with credit card debt, credit card debt forgiveness is becoming an attractive option for many. These programs have the potential to cut the cost of your debt, making it easier to absorb increasing costs elsewhere. And, considering the potential for a rate hike in the future, it may be wise to enroll in one of these programs as soon as possible. Chat with an expert about your options now



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Social Security Fairness Act passes U.S. Senate

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Legislation to expand Social Security benefits to millions of Americans passed the U.S. Senate early Saturday and is now headed to the desk of President Joe Biden, who is expected to sign the measure into law.

Senators voted 76-20 for the Social Security Fairness Act, which would eliminate two federal policies that prevent nearly 3 million people, including police officers, firefighters, postal workers, teachers and others with a public pension, from collecting their full Social Security benefits. The legislation has been decades in the making, as the Senate held its first hearings into the policies in 2003. 

“The Senate finally corrects a 50-year mistake,” proclaimed Senate Majority Leader Chuck Schumer, a Democrat from New York, after senators approved the legislation at 12:15 a.m. Saturday.

The bill’s passage is “a monumental victory for millions of public service workers who have been denied the full benefits they’ve rightfully earned,” said Shannon Benton, executive director for the Senior Citizens League, which advocates for retirees and which has long pushed for the expansion of Social Security benefits. “This legislation finally restores fairness to the system and ensures the hard work of teachers, first responders and countless public employees is truly recognized.”

The vote came down to the wire, as the Senate looked to wrap up its current session. Senators rejected four amendments and a budgetary point of order late Friday night that would have derailed the measure, given the small window of time left to pass it. 


Some seniors shut out of full Social Security benefits

02:20

Vice President-elect JD Vance of Ohio was among the 24 Republican senators to join 49 Democrats to advance the measure in an initial procedural vote that took place Wednesday.

“Social Security is a bedrock of our middle class. You pay into it for 40 quarters, you earned it, it should be there when you retire,” Ohio Senator Sherrod Brown, a Democrat who lost his seat in the November election, told the chamber ahead of Wednesday’s vote. “All these workers are asking for is for what they earned.” 

What is the Social Security Fairness Act?

The Social Security Fairness Act would repeal two federal policies — the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) — that reduce Social Security payments to nearly 3 million retirees. 

That includes those who also collect pensions from state and federal jobs that aren’t covered by Social Security, including teachers, police officers and U.S. postal workers. The bill would also end a second provision that reduces Social Security benefits for those workers’ surviving spouses and family members. The WEP impacts about 2 million Social Security beneficiaries and the GPO nearly 800,000 retirees.

The measure, which passed the House in November, had 62 cosponsors when it was introduced in the Senate last year. Yet the bill’s bipartisan support eroded in recent days, with some Republican lawmakers voicing doubts due to its cost. According to the Congressional Budget Office, the proposed legislation would add a projected $195 billion to federal deficits over a decade. 

Without Senate approval, the bill’s fate would have ended with the current session of Congress and would have needed to be re-introduced in the next Congress. 



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Saturday is the winter solstice and 2024’s shortest day. Here’s what to know about the official start of winter.

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The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, in the Northern Hemisphere. The celestial event signifies the first day of winter, astronomically. 

What is the winter solstice?

The winter solstice is the day each year that has the shortest period of daylight between sunrise and sunset, and therefore the longest night. It happens when the sun is directly above the Tropic of Capricorn, a line of latitude that circles the globe south of the equator, the National Weather Service explains. 

The farther north you are, the shorter the day will be, and in the Arctic Circle, the sun won’t rise at all. 

How is the day of the winter solstice determined?

The winter solstice occurs because of the Earth’s tilt as it rotates around the sun. 

When the Northern Hemisphere tilts away from the sun, the nights last longer. The longest night happens on the solstice because the hemisphere is in its furthest position from the sun. That occurs each year on Dec. 21 or 22. 

This year, it falls on Dec. 21 at 4:21 a.m ET, to be precise.

On the summer solstice, when the northern tilt is closest to the sun, we have the longest day, usually June 20 or 21.

Illustration of the Earth's tilt in different seasons
This illustration from the National Weather Service shows the tilt and rotation of the Earth on the winter and summer solstices, as well as the autumnal and vernal equinox marking the beginning of fall and spring.

National Weather Service


The solstices are not always exactly on the 21st every year because the earth’s rotation around the sun is 365.25 days, instead of 365 even. 

Will days start getting longer after the winter solstice?

Yes. Each day after the solstice, we get one minute more of sunlight. It doesn’t sound like much, but after just two months, or around 60 days, we’ll be seeing about an hour more of sunlight. 

When will winter officially be over in 2025?

The meteorological winter ends on March 20, 2025. Then, spring will last until June 20, when the summer solstice arrives. 

How is the winter solstice celebrated around the world?

Nations and cultures around the world have celebrated the solstice since ancient times with varying rituals and traditions. The influence of those solstice traditions can still be seen in our celebrations of holidays like Christmas and Hanukkah, Britannica notes.

The ancient Roman Saturnalia festival celebrated the end of the planting season and has close ties with modern-day Christmas. It honored Saturn, the god of harvest and farming. The multiple-day affair had lots of food, games and celebrations. Presents were given to children and the poor, and slaves were allowed to stop working. 

Gatherings are held every year at Stonehenge, a monumental circle of massive stones in England that dates back about 5,000 years. The origins of Stonehenge are shrouded in mystery, but it was built to align with the sun on solstice days

Winter Solstice at Stonehenge
People gather at sunrise for the winter solstice celebrations at the Stonehenge prehistoric monument on Salisbury Plain in Wiltshire, England, on Dec. 22, 2021.

Andrew Matthews/PA Images via Getty Images


The Hopi, a Native American tribe in the northern Arizona area, celebrate the winter solstice with dancing, purification and sometimes gift-giving. A sacred ritual known as the Soyal Ceremony marks the annual milestone.

In Peru, people honor the return of the sun god on the winter solstice. The ancient tradition would be to hold sacrificial ceremonies, but today, people hold mock sacrifices to celebrate. Because Peru is in the Southern Hemisphere, their winter solstice happens in June, when the Northern Hemisphere is marking its summer solstice.

Scandinavia celebrates St. Lucia’s Day, a festival of lights. 

The “arrival of winter,” or Dong Zhi, is a Chinese festival where family gathers to celebrate the year so far. Traditional foods include tang yuan, sweet rice balls with a black sesame filling. It’s believed to have its origins in post-harvest celebrations. 

Researchers stationed in in Antarctica even have their own traditions, which may include an icy plunge into the polar waters. They celebrate “midwinter” with festive meals, movies and sometimes homemade gifts.



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