Today, The Two Mikes spoke again with Gordon Oliver from the non-profit organization Cambridge Credit Counseling. Mr. Oliver said that the total of credit card debt is still above $1 trillion dollars and that interest on college loans began this month and payments for the loan will restart in November. The combination of both will be adding about $370 per month to a loan-holders payment. Mr. Oliver asked that we remind listeners that they can call Cambridge and get sound advice on how to handle debt and to work through a budget that will keep each person or family apprised of how their finances are looking, and perhaps where some monthly costs could be cut. Mr. Oliver also explained that the federal government still has plans whereby public servants at all levels and aspects of government can still get some forgiveness of their loans. The process for applying for this program sounds to be a bit convoluted, but Mr. Oliver said Cambridge is ready to help people understand the process and work through it. He also said that Cambridge has prepared webinars on this process and groups of public servants interested in using the forgiveness program can call to schedule times to view the webinars Always, credit counseling from Cambridge is free.
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