Blog Archives

Falling Credit and Soaring Unemployment

BLOOMBERG REPORTS THAT U.S. CONSUMER CREDIT FALLING: “Borrowing by U.S. consumers dropped in May for the fourth straight month after the unemployment rate reached the highest in more than 25 years and accessing loans remained difficult.” The article also notes

Posted in Finance and Economy Tagged with: , , , , , , , , , ,

Is There Really A PrePaid “Credit” Card?

YOU MAY SEE ADVERTISING FOR PREPAID CREDIT CARDS, BUT THERE IS NO SUCH THING. In simple terms, a prepaid credit card is “not” a credit card at all, since the most elemental aspect of the card does not exist: “Credit!”

Posted in Credit Card Debt Tagged with: , , , , , , , , , , ,

What is a Credit Crunch?

A CREDIT CRUNCH IS A REDUCTION IN THE GENERAL AVAILABILITY OF LOANS, or even a sudden tightening of the conditions required to obtain a loan from the banks. Either scenario is not good for you and I. The current credit

Posted in Finance and Economy Tagged with: , , , , , , , , , , , , ,

Credit Card Issuers are Saying One Thing and Doing Another

THE WALL STREET JOURNAL BLOG REPORTED TODAY that “Card issuers are saying one thing and doing another” in response to the credit-card industry reforms that will take effect in February 2010. The post is based upon a Credit Card Study

Posted in Credit Card Debt Tagged with: , , , , , , , , , , ,

Credit Card Companies Will Continue to Take Advantage of Consumers

REUTERS REPORTS THAT CREDIT CARD COMPANIES WILL CONTINUE TO MAKE “LUCRATIVE” RETURNS. Just in case you were worried that the new rules of the Obama administration might harm the credit card companies by limiting  their ability to rake consumers over

Posted in Credit Card Debt Tagged with: , , , , , , , , , , , ,

5 Ways to Improve Your Credit Score

REVIEW THE FUNDAMENTALS OF YOUR CREDIT SCORE for the purpose of keeping it high, or helping to move it higher in the longer term. A higher credit score means lower interest payments for an auto loan, home loan, personal loans, new

Posted in Credit Score Tagged with: , , , , , , , , , , , , , , , , ,

What is Debt Validation?

UNDER THE FAIR DEBT COLLECTION PRACTICES ACT (a federal law regulating debt collectors), you have the right to request that any debt collector send you proof of the debt in question. This process is called debt validation or debt verification.

Posted in Consumer Rights Tagged with: , , , , , , , , , , , , , , , , , , , , , , , , ,

How Many Errors Are On Your Credit Report?

IS THERE WRONG INFORMATION BEING REPORTED ABOUT YOUR CREDIT? A study released by the U.S. Public Interest Research Group (PIRG) in June 2004 found that 79% of the consumer credit reports surveyed contained some kind of error or mistake. That

Posted in Consumer Rights Tagged with: , , , , , , , , , , , , , , , , , , , , , ,

Bank Failure List Tops 45

TODAY, MONEY.CNN.COM REPORTED THAT the list of bank failures topped 45.  The article states: “The financial crisis has taken a heavy toll on small banks across the nation as losses in the housing market mount and unemployment dents household wealth.

Posted in Debt Negotiation Tagged with: , , , , , , , , , , , , , , , , , , , ,

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