Thinking of Getting a Refund Anticipation Loan? Read This First.

February 16, 2011, 9:56 pm

≫ Next: Should Teachers Be Censored Online?

Do you have a financial question? Ask Michelle Singletary

Q: Is it a good idea to make use of refund anticipation loans when filing taxes? What's the big deal?

A: A refund anticipation loan ("RAL") is a short-term loan backed by your tax refund. And it's a bad idea because of all the fees involved. The loan lasts only until your refund arrives, which can be in about 10 days with electronic filing and direct deposit.

So what about those fees?

Fees range from $34 to $130. To some, that seems a small price to pay to get their hands on their money faster. But in 2008, 8.4 million taxpayers paid $738 million in RAL fees, plus $68 million more in add-on fees, according to a report by the Consumer Federation of America and the National Consumer Law Center. When RAL-associated fees are converted into an annual percentage rate, it can amount to interest rates of 50% to almost 500%.

With electronic filing, you don't need a RAL. If you file your tax return electronically and request a direct deposit to your personal checking or savings account, you can receive your refund in as few as 10 days.

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Should Teachers Be Censored Online?

February 17, 2011, 4:00 am

≫ Next: Did Chicago Public Radio Discover Coca Cola's Secret Recipe?

≪ Previous: Thinking of Getting a Refund Anticipation Loan? Read This First.

Headlines were made when a Philadelphia teacher was recently suspended from work for her comments about her students on her personal blog. But there are some things that parents and administrators should have considered before reacting the way they did.

The teacher in question is 30-year-old Natalie Munroe, who had no idea at the time that, when she wrote about the frustrations and real-life challenges of being a teacher at the Central Bucks East High School, administrators would react the way they did. Those comments made about her students and others at the school gained the attention of concerned parents and soon began to make national headlines. But the attention and reprimand may have been a touch over the top if you look a bit closer.

First off, the posts in which the most disturbing comments were made were written more than a year ago. It's also worth noting that the comments were probably written in moments of duress, where the frustrated teacher was merely attempting to let off some steam. Had the remarks been inflammatory or threatening to anyone specific on her site, then I would say, by all means, suspend the teacher.

But it wasn't. it was simply a teacher expressing her views on a frustrating day.

Secondly, the teacher never mentioned any names on her site. She may have even gone as far as to describe in colorful terms what she would like to say to certain parents she disagreed with, but never did. Again, no grounds for a suspension -- a severe reprimand perhaps, but not a suspension.

Munroe started the blog as a private way to keep in touch with close personal friends online. The fact that someone else found it and didn't approve of it is a non-issue that the school should have realized.

So, despite any parent's reaction to Ms. Munroe's personal thoughts, they were her own thoughts to share. Teachers like Ms. Munroe have the right to express themselves. Like the rest of us, they have a right to freedom of speech, and Ms. Munroe simply exercised hers.

Did Munroe's school overreact? Should teacher's personal feelings be censored online? Share your thoughts.

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Did Chicago Public Radio Discover Coca Cola's Secret Recipe?

February 19, 2011, 8:28 am

≫ Next: No Revolution for Zimbabwe

≪ Previous: Should Teachers Be Censored Online?

On a recent episode of the popular Chicago Public Radio show This American Life, host Ira Glass recounts the story of discovering what appears to be the closely guarded original recipe for Coca Cola.

The show was broadcast last weekend, and the story quickly took on a life of its own. According toThe New York Times, in the days that followed, "The recipe spread across the Internet, republished everywhere from CNN to Al Jazeera. A television show in Australia made its own Coke on air. Brewers in the United States swapped tips on finding the best sources for key ingredients like coriander oil and citric acid."

Coca Cola, as they always do when someone claims to have discovered its recipe, denies that Glass and his team have it, and a taste test on the show provides mixed results.

Listen to the show here, and here's the recipe if you feel like whipping up a batch.

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No Revolution for Zimbabwe

February 19, 2011, 8:50 am

≫ Next: Negotiating a Debt Settlement

≪ Previous: Did Chicago Public Radio Discover Coca Cola's Secret Recipe?

While popular uprisings continue to sweep across the Middle East, with protesters clashing with police and military in Bahrain, Libya and Djibouti following the successful uprising in Egypt, one wonders whether this wave of change could reach Sub-Saharan Africa.

Indeed, countries like Gabon, Zimbabwe, Uganda and Angola, all of which have long suffered under the rule of corrupt and violent dictators, are as much in need of a regime change as Egypt, if not more so. So why haven't the flames of rebellion ignited the region in the same manner as the Middle East?

The Globe and Mail's Johannesburg correspondent, Geoffrey York, breaks down the reasons why it seems unlikely that the people in places like Zimbabwe are unlikely to benefit from the storm of popular uprisings set off by Tunisia late last year.

The factors York cites as responsible for the longevity of African dictators like Zimbabwe's Robert Mugabe and many others are complex, but include education and income levels, Internet access, cultural diversity and infighting, as well as the closeness of Sub-Saharan dictators to their respective militaries -- a key factor in the success of the uprisings in Egypt and Tunisia.

While many of us have high hopes that the uprisings across the Middle East will push the region towards democracy and stability, it appears that the rest of Africa will have to wait.

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Negotiating a Debt Settlement

February 21, 2011, 10:45 am

≫ Next: Forest Whitaker: For Blacks in Hollywood, "We're Not at a Destination Point"

≪ Previous: No Revolution for Zimbabwe

Do you have a financial question?Ask Michelle Singletary

Q: My husband was divorced from his first wife approximately eight years ago. They have three accounts in collection, which is hindering our chances of purchasing a home. Is it possible to write a letter to the creditors to settle his half of the debt or is he responsible for it all?

San Francisco, CA

A: You certainly can offer to settle the debts with the creditors. And your best chances to get the creditor(s) to accept a deal are to have what you want to offer in a lump-sum cash offer. If, for example, one of the accounts had a balance of $5,000, and you had the cash, you might offer $2,500 to settle in full. To many creditors, cash today is better than a promise of monthly payments in the future. How much they are willing to accept on the delinquent debt often depends on how old the debt is.

If the creditors accept your offers, don't send a penny without getting the offer(s) in writing. Once you have the letter, then send a check or cashier's check. After that, keep a copy of the proof that the debt was paid in full. You will need to keep the proof forever, because often this type of consumer debt is sold and resold, and sometimes the paperwork proving you paid it off is lost.

Finally, I was waiting to tell you the bad news. If both your husband and his first wife co-signed for the accounts, there is no such thing as "his half" of the debt. They are both 100% liable for the jointly-held debt. If the creditors can't get the ex to pay, then they will try to make your husband pay up. You should know that your husband might have to pay even if his divorce decree says he and his ex were supposed to split debts. For example, credit card companies aren't bound by divorce decrees. That means they can come after your husband for all the debt owed.

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Forest Whitaker: For Blacks in Hollywood, "We're Not at a Destination Point"

February 22, 2011, 4:15 pm

≫ Next: Guns on Campus a Bad Gamble

≪ Previous: Negotiating a Debt Settlement

In this Web-exclusive clip, Academy Award-winning actor Forest Whitaker addresses a recent piece in The New York Times entitled "Hollywood's Whiteout," about the absence of Black artists in the 2011 Oscar nominee class.

The article states:

The consolidation of a black presence in the movies and television did not signal the arrival of a postracial Hollywood any more than the election of Barack Obama in 2008 spelled the end of America's 400-year-old racial drama. But it was possible, over much of the past decade, to believe that a few of the old demons of suspicion and exclusion might finally be laid to rest.

Are the coming Oscars an anomaly, or an unsettling sign of the times? The Academy, in any case, does not work in a vacuum. A look back at the American films of 2010 reveals fewer of the kinds of movies -- biographies like "Ray" and urban dramas like "Training Day" -- that have propelled black actors, screenwriters and directors into contention in the recent past. With a few exceptions, like the romance "Just Wright" and the ghetto farce "Lottery Ticket," it was perhaps the whitest year for Hollywood since the post-Richard Pryor, pre-Spike Lee 1980s. The superhero, fantasy and action genres were drained of color. The urban dramas were set in Irish-American New England neighborhoods. Even the male-male buddy picture, a staple of interracial bonding since 1958, when Mr. Poitier and Tony Curtis were chained together in "The Defiant Ones," has become a largely white-on-white affair.

"There has been a paradigm shift," says Whitaker, who won an Academy Award in 2007 for his portrayal of Ugandan dictator Idi Amin in The Last King of Scotland. "We've moved a long way, but we're not at a destination point."

Watch the Web-exclusive clip below, where Whitaker explains why he embraces technology to help with the democratization of Hollywood, and watch the video of his full conversation to find out what more he had to say.

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Guns on Campus a Bad Gamble

February 23, 2011, 7:17 am

≫ Next: Sen. Michael Bennet on Teachers, Unions and the Wisconsin Protests

≪ Previous: Forest Whitaker: For Blacks in Hollywood, "We're Not at a Destination Point"

Recently, the Texas legislature proposed a bill that would allow college students and employees to carry concealed handguns on campus. The decision comes after a similar vote by the state senate in 2009. Lawmakers say the bill would allow for students to protect themselves in an emergency situation.

Many look to the school tragedy that occurred at Virginia Tech as a reason to allow passage of the bill.

Despite the good intentions of lawmakers to make students feel safe on campus, I really don't think we need to allow more students to come onto college campuses with guns. I think more police officers in plain clothes would do a pretty good job of helping.

Several concerns also come up with respect to this bill. For one, what's to keep some hot-headed individual from pulling a gun on a fellow student or professor for something as simple as a disagreement on a class grade or difference of opinion on a class topic?

Secondly, who really feels safe in a room full of loaded guns in a learning environment? I mean seriously, for all the debate surrounding this topic, the proposal really sounds more like something from the wild wild west than something for students in the 21st century.

While there are many in the state of Texas who support lawmakers' proposals on a host of issues, I think this one does more harm than good.

I would feel a lot less comfortable with hundreds of young men and women on campus with concealed guns than, heaven forbid, one lone gunman on campus. Passage of the bill would also put more strain and challenge on police officers who would have to regulate firearms on an already active college campus. Though there are merits to both sides of this issue, the last place I want to see the conversation is at a school where everyone is packing.

Should college students be allowed to have concealed handguns on campus?

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Sen. Michael Bennet on Teachers, Unions and the Wisconsin Protests

February 23, 2011, 4:00 pm

≫ Next: Crooked Judge Destroys Lives

≪ Previous: Guns on Campus a Bad Gamble

In this Web-exclusive video, Sen. Michael Bennet (D-CO), discusses the future of the teaching profession in Wisconsin and beyond as it relates to ongoing protests in that state.

"What we're seeing is the result of commitments that were made over many, many decades that can't be afforded in a lot of states," Sen. Bennet says.

"There are important values that seem like they're in conflict, and what we need to do is figure out, on a state-by-state and city-by-city basis, how to sort through that," Sen. Bennet continues.

Watch the Web-exclusive clip below, where Sen. Bennet outlines what is needed to ensure high-quality education going forward, and watch the video of his full conversation to find out what more he had to say.

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Crooked Judge Destroys Lives

February 24, 2011, 3:01 am

≫ Next: Beware the Credit "Fix"

≪ Previous: Sen. Michael Bennet on Teachers, Unions and the Wisconsin Protests

Last week, many were shocked to hear the details of a former courtroom judge and his alleged role in willfully sentencing teens to correctional facilities for private gain. Former judge Mark Ciavarella was found guilty on charges of racketeering, money laundering and a host of other crimes. Allegations of the scandal suggest that the judge was sentencing minors and teens to heavy-handed sentences in correctional facilities, in exchange for kickbacks from the for-profit correctional facility owners, otherwise known as "cash for kids."

The news comes after reports of similar schemes that were allegedly taking place in other parts of the country. The mother of one of the teen victims, Sandy Fonzo, was extremely upset by Ciavarella's actions. Her son, Edward Kenzakoski, was sentenced to 9 months in a correctional facility for drug paraphernalia possession. Once he got out, as his mother states, he was "never the same." She said the experience left her son in anguish, and he never regained the same positive outlook he once had in life. Not able to to cope with the stress and severity of his experiences, Kenzakoski committed suicide last year. He was 23.

Sandy Fonzo feels that Ciavarella's actions played a horrific role in her son's life and confronted the judge at the courthouse where he was found guilty. The tragic story is one that pulls at both the emotional and ethical fabric of our society.

An investigative commission has been created to look into the cash for kids scandal and is making recommendations on what can be done to prevent these types of tragedies from occurring in the future. In the aftermath of Ciavarella's verdict, Sandy Fonzo sat down with Anne Curry of the Today show to discuss the tragedy and the loss of her son. Video of the interview can be found below.

Visit msnbc.com for breaking news, world news, and news about the economy

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Beware the Credit "Fix"

February 24, 2011, 9:09 pm

≫ Next: A Different Approach for Radiohead

≪ Previous: Crooked Judge Destroys Lives

Do you have a financial question?Ask Michelle Singletary

Q: I am in the process of getting a divorce, and I want to rebuild my credit [score]. It's very low. And, I don't know where to start. I want to use a credit agency, but I am not sure. I have heard that it's best to use nonprofits; but I never hear that they get the results like the other agencies. Can you please help me?

A: If by credit agency you mean an outfit that promises it can "fix" your credit, I would run away fast from such a company. Nobody can fix information on your credit report that is correct. If you paid bills late or defaulted on debts, you can make that go away. Many of these companies make claims that they can improve your credit rating, but really they are just scams, out to get your money. The truth is the truth.

Now, if you mean you need help coming up with a debt management plan, then you could get help from a nonprofit by going to the National Foundation for Credit Counseling's Web site. And yes, you should work with a nonprofit that charges nominal fees to help get you on a plan to pay back your debts.

Finally, if your main goal is just to improve the bad credit that is legitimately yours, the best way to do that is to pay your bills on time, going forward. So much of your credit score is based on just paying your bills on time. Over time, if you pay your bills on time, your credit scores will go up.

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A Different Approach for Radiohead

February 27, 2011, 8:19 am

≫ Next: Federal Budget Cuts Can't Ignore Entitlements

≪ Previous: Beware the Credit "Fix"

It's been four years since British rock giants Radiohead released their last album, In Rainbows. While the band has been hugely influential musically since the release of the seminal OK Computer in the mid-nineties, they made news for the release of In Rainbows by circumventing the standard distribution and pricing models for the recording industry and offering the album as a download for which listeners could pay what they wanted.

The album was hugely successful, although the release of their newest effort The King of Limbs earlier this month, suggests that allowing fans to set their own price didn't prove good business. This time around, Radiohead is taking a different approach yet again. The new album is now available for digital download from the band's Website in either MP3 or CD-quality WAV formats (for $9 and $14, respectively), and while this will certainly be sufficient for the casual listener, super fans will be tempted by what they are calling a "Newspaper Album".

For $48, die-hard Radiohead fans will receive a digital download (MP3) plus "two clear 10" vinyl records in a purpose-built record sleeve," a compact disc and "many large sheets of artwork, 625 tiny pieces of artwork and a full-color piece of oxo-degradable plastic to hold it all together."

Yet again, the members of Radiohead seem determined to reward their most loyal listeners with a unique album experience, albeit for a premium price. In an age of illegal downloading and endangered record stores, Radiohead's newest approach to selling their music follows the band's always unorthodox approach to making it.

Here's the first video from the album, featuring lead singer Thom Yorke doing some very cool dance moves.

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Federal Budget Cuts Can't Ignore Entitlements

February 28, 2011, 8:46 am

≫ Next: Should I Walk Away from My Mortgage?

≪ Previous: A Different Approach for Radiohead

For some time now, I've heard lawmakers on Capitol Hill talk about the wild spending that's in our federal budget. Look almost anywhere and you'll hear that something must be done to get America's deficit down.

Some lawmakers on the right have been bold enough to even suggest ideas on what could be done to stem the overwhelming deficit the U.S. government is heading for. When House Speaker John Boehner was asked about the working men and women who would lose jobs due to those cuts, he said, "So be it." That's a pretty big statement, but he made it.

When President Obama submitted his budget to Congress earlier this month, it was met with scrutiny on both sides of the aisle. Most notably, liberal supporters of the president were concerned that many of the cuts he proposed involved social programs designed to help low-income individuals. Even he understands how serious budgetary matters are for the health of our fiscal well-being. Yet, with both sides still at odds with one another over cuts, there's talk of a federal government shutdown.

But, for all of the scrutiny and criticism both parties are receiving on the proposed budget cuts, and despite both sides understanding how important this issue is, no one is willing to step up and have tough talks about entitlement programs. It has to be addressed.

There is no way that any lawmaker -- Republican or Democrat -- can call themselves a leader in Washington D.C. and not address the one area of spending that accounts for a massive portion of our budget. Lawmakers on both sides of the aisle should see this as an opportunity to come together and work on a feasible solution to a spending challenge that truly hinders our budget. Instead, we're just having a good old session of the blame game, one in which everyone loses. If the U.S. is to become fiscally solvent in the years to come, lawmakers must take a stand and begin to restructure our entitlement programs.

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Should I Walk Away from My Mortgage?

February 28, 2011, 10:33 am

≫ Next: Charles Ferguson: "What we have now is the new normal..."

≪ Previous: Federal Budget Cuts Can't Ignore Entitlements

Do you have a financial question?Ask Michelle Singletary

Q: I recently found out that my home is worth $140,000 less than what I paid for it four years ago. I have a 40-year loan. My mortgage company refuses to modify the loan. I was not very well informed and took bad advice in this purchase. I've heard about people just walking away from the mortgage, and I'm wondering, is that what I should do? I know it will reflect negatively on my credit for five years. Please let me know your thoughts.

Niagara Falls, NY

A: First, negative credit information stays on your credit report for seven years, not five. So, you should not take lightly the notion of purposely defaulting on your mortgage. And, future lenders will not look kindly on the fact that you just walked away from your financial obligation. Besides, you need to understand that just walking away does not mean you can walk away from this debt.

The lender may take you to court and get a judgment against you that would result in your having to pay the difference between what you owe, including any foreclosure cost, and the fair market value of the home. If you are serious about this, talk to an attorney so you know exactly what could happen to you based on your state law.

What I'm most concerned with is do you need to walk away? In your question, you don't give any indication that you can't afford your monthly mortgage payment. Owing more on your mortgage than your home is worth really only matters if you need to sell or refinance. Now, if you truly can't handle the mortgage, before just walking away, try to do a short sale, which means your lender will allow you to sell the house for less than what is owed.

However, if you like the home and you can afford the payments and you don't plan on moving any time soon, what's the problem?

You may have made a bad purchase, but honestly, it does not appear you need to walk away from your mortgage.

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Charles Ferguson: "What we have now is the new normal..."

February 28, 2011, 2:53 pm

≫ Next: Smokey Robinson on El DeBarge: "Get your spiritual self together..."

≪ Previous: Should I Walk Away from My Mortgage?

If you watched the Academy Awards Sunday night, then you likely heard Inside Job director Charles Ferguson's acceptance speech after his film won for best documentary. Ferguson's acceptance speech began this way:

"Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that's wrong."

Tonight, Ferguson sits down with Tavis and explains how it feels to have won the Oscar when the actual issue that his film addresses remains unresolved.

In the clip below, Ferguson explains why he is still hopeful for America's financial future even though he calls the current financial struggles that many Americans face "the new normal."

Watch the clip below and tune in to the full conversation tonight.

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Smokey Robinson on El DeBarge: "Get your spiritual self together..."

March 1, 2011, 10:30 am

≫ Next: To Lease or Buy? The Final Word on the Car Debate

≪ Previous: Charles Ferguson: "What we have now is the new normal..."

Legendary singer/songwriter Smokey Robinson, who sits down with Tavis tonight, discusses his recovery from a more than two-year drug addiction.

The Motown great also shares the advice that he offered his "little brother" El DeBarge, who, after an amazing musical comeback, recently returned to rehab for his own addiction.

"Unless you get your spiritual self together," says Robinson, who has been sober since May 1986, "you are not going to beat it."

Watch the clip below, where Robinson describes the path that he took to move beyond his addiction, and tune in tonight for the full conversation.

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To Lease or Buy? The Final Word on the Car Debate

March 3, 2011, 3:14 am

≫ Next: Anthony Mackie: African Americans in Film Need to Tell Their Own Stories

≪ Previous: Smokey Robinson on El DeBarge: "Get your spiritual self together..."

Do you have a financial question?Ask Michelle Singletary

Q: Is it better to lease or to buy a car?

A: Many financial experts will argue the pros and cons of leasing a car

Let me be crystal clear about where I stand on this issue. For the overwhelming majority of people who lease a car, it's an incredibly unwise financial move.

Here are a few arguments in favor of leasing a car.

If you want to drive a better car for a lower monthly payment, then you should lease.
If you like trading in your car every few years, leasing makes sense for you.
If you don't drive a lot of miles, leasing is a good deal.
If you don't want to be stuck with a car that depreciates the moment you drive it off the lot, then lease.

All those points sound reasonable. But let's apply some common sense to the argument in favor of leasing.

You can drive a better car. In other words, you can drive a Cadillac even if you have a Chevy budget. So many people are broke trying to live above their means, and that's what leasing is for many people. If you couldn't afford that same car by getting a four-year auto loan, you are living above your means.

Yes, if you like trading in your car every few years, leasing makes sense. But why would you want to be so financially reckless? Going from lease to lease like this means you will be perpetually stuck every month with a car payment.

Most leases allow you to drive 12,000 to 15,000 miles a year. If you go over that limit, you have to pay and pay big time for each additional mile (typically 15 cents, but it could be more). I've heard from countless people who had to pay that extra mileage fee because they had to change jobs or their commute got longer.

While it sounds so sophisticated to argue that you should lease a car because it's a depreciating asset, it doesn't make sense long term. When you buy a car, you've still got an asset after you pay off the loan. What do you have after paying thousands of dollars for a lease?

Nothing.

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Anthony Mackie: African Americans in Film Need to Tell Their Own Stories

March 3, 2011, 2:58 pm

≫ Next: A Nature Doc with a Twist

≪ Previous: To Lease or Buy? The Final Word on the Car Debate

When Forest Whitaker appeared on the show recently, he addressed a piece in the The New York Times entitled "Hollywood's Whiteout," about the absence of Black artists in the 2011 Oscar nominee class. Whitaker admitted that while there was a "paradigm shift" in the industry where Blacks are concerned, African Americans are by no means at a "destination point" with regard to their presence on screen.

Even though this year's Academy Awards ceremony has come and gone, the "Whiteout" conversation isn't over yet.

Tonight, Tavis sits down with actor Anthony Mackie of The Hurt Locker and Million Dollar Baby fame, who argues that African American artists need to create their own film projects.

"This is a business," Mackie says. "Let's be smart about our business." Later he adds, "If we don't tell those stories, then we can't expect someone else to tell them for us."

Watch the clip below, where the actor discusses the business side of filmmaking and explains why he feels African Americans in film have been "lazy" on their game, and tune in tonight for the full conversation.

Also, be sure to share your thoughts. Are African American artists to blame when they're not in Oscar contention? Are they "lazy" on their game or being shut out?

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A Nature Doc with a Twist

March 6, 2011, 8:44 am

≫ Next: Two Steps You Can Take to Avoid Bankruptcy

≪ Previous: Anthony Mackie: African Americans in Film Need to Tell Their Own Stories

Fans of the wildlife documentary genre will be well familiar by now with the BBC's epic Planet Earth -- to date, the most spectacular and expansive nature series ever made. Anyone watching Planet Earth's flying sharks,elephant-killing lions and birds of paradise in full display in all their HD splendor may well have wondered how they could possibly top such a feat. Perhaps they never will; but the BBC's latest nature series is a darn good start.

This time, rather than focusing on our planet's myriad weird and wonderful animal species (many of which are rapidly disappearing), the BBC has chosen one species in particular to investigate: humans. Human Planet, as it's called, is such a good idea for a series, I'm surprised no one else had done it previously. But, given that Planet Earth's budget was in the area of $25 million dollars, perhaps the BBC was/is the only organization capable of doing justice to such a big project.

The series begins with the episode "Oceans - Into the Blue," which features barnacle hunters in Spain, a "shark whisperer" in Papua New Guinea and Indonesians hunting sperm whales from traditional handmade boats. Seven more episodes follow, taking us to deserts, arctic tundras, tropical jungles and other such exciting places. Human Planet recently finished airing in the UK, but it will appear on Discovery starting in April and be released on DVD immediately after. Judging from the clip below it's going to be worth the wait.

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Two Steps You Can Take to Avoid Bankruptcy

March 7, 2011, 10:52 am

≫ Next: Libyan Dissident: "This is not a revolution by rebels."

≪ Previous: A Nature Doc with a Twist

Do you have a financial question?Ask Michelle Singletary

Q: My husband lost his job. He was the main breadwinner. Right now, we are struggling to pay our monthly credit card balances. We are deciding whether to file bankruptcy or find another route for help. This is the first time we are having a hard time paying our bills, and we do not want to ruin our credit.

Neptune, NJ

A: I'm so sorry you are going through a rough time. But, before you file for bankruptcy and cause great damage to your credit history for 10 years, talk to your creditors. You may be able to work something out so that you defer your payments for while.

And certainly, you should be paying all your necessities first, before worrying about the credit card debt.

But, if you get nowhere with the creditors, go to the National Foundation for Credit Counseling's Web site. A nonprofit counselor may be able to help you see what else you can do, based on whatever you have in the way of income. If it appears you need to file for bankruptcy, the credit counselor can help with that as well, since, by law, you have to get counseling before you can file for bankruptcy.

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Libyan Dissident: "This is not a revolution by rebels."

March 7, 2011, 4:07 pm

≫ Next: Lupe Fiasco: "The system is flawed..."

≪ Previous: Two Steps You Can Take to Avoid Bankruptcy

Should the United States lead the way in imposing a no-fly zone over Libya?

Libyan dissident and University of Texas political science department chair Mansour El-Kikhia says that if the U.S. doesn't push for a no-fly zone, at the very least, it should give the Libyan people a chance to level the playing field by supplying the opposition in their fight against Muammar Qaddafi.

"This is not a revolution by rebels," El-Kikhia says. "I understand if it's a rebel [force] of 1,000, 2,000 or 3,000. But not when one million and a half people are opposed to you. They cease to be rebels."

Check out the clip below, where El-Kikhia explains that the notion of a post-Qaddafi Libya turning into a terrorist state is nonsense, and tune in tonight for the full conversation.

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