Interest Only and Credit Card Debt

by Mary Bush Well, here is an example of the system that isn’t functioning as intended: a mortgage loan that encourages paying off one debt, ... as if to say, ‘You mean you can’t pay?’ What do these loan and credit companies think they’re going ... product, let’s give the bad credit crowd a chance to make an even worse decision, and finance a home [more...]

Date: 2009-01-01 10:19:52

Blog posts (50) | Videos (51)
 

Interest Only and Credit Card Debt

by Mary Bush Well, here is an example of the system that isn’t functioning as intended: a mortgage loan that encourages paying off one debt, ... as if to say, ‘You mean you can’t pay?’ What do these loan and credit companies think they’re going ... product, let’s give the bad credit crowd a chance to make an even worse decision, and finance a home [more...]

Date: 2009-01-06 08:22:54

Interest Only and Credit Card Debt

by Mary Bush Well, here is an example of the system that isn’t functioning as intended: a mortgage loan that encourages paying off one debt, ... as if to say, ‘You mean you can’t pay?’ What do these loan and credit companies think they’re going ... product, let’s give the bad credit crowd a chance to make an even worse decision, and finance a home [more...]

Date: 2009-01-05 15:03:54

The Rule the Banks Don’t Want You To Know

King Solomon once said that there’s nothing new under the sun. How appropriate that the wisest man in the Bible ( ... and credit card companies instead of making it work for them. The average credit card rate is currently at 13.54% (Source: Credit Cards.com, 2008) and Americans are averaging $16,635 in debt, excluding [more...]

Date: 2008-09-29 18:00:27

Credit Repair Help - Here’s How To Start Right Now!

by Mark Alison People are in debt. Living in this world with bad credit can be difficult. It’s hard to repair your credit and it makes life difficult to have bad credit ... coffees. We need to then know what’s in your credit report. There are three credit card companies [more...]

Date: 2009-01-05 11:03:01

President Obama to the Aid of Americans Suffering from Debt Apply For Your Government Grant Now

Author : Lindsy Emery It is no secret that the economy is in dire need of a jumpstart With so many out of work, taking cuts in pay, losing homes, cars and having bills that they can no longer afford to meet, Americans are turning to our government for financial help Under the guidance of Barack Obama, our federal government is responding Bills have been introduced that better monitor and control the interest rates and fees credit card companies are allowed to charge Financial institutions [more...]

Date: 2009-09-30 15:50:29

Obama Wants Everyone Out of Debt Erase Up to 50

This administration realizes that the economy is bad and people are suffering President Obama is trying to put a limit on the amount of interest the credit card companies can charge you But perhaps you have already gotten into trouble with your credit card and don't know what to do about it [more...]

Date: 2009-09-11 07:42:37

My Thoughts on Debt

I received a comment the other day about choosing to go into debt again. It was prompted because I discussed the possibility of a car loan ... the credit card companies for our debt…I can’t. They didn’t make me use their cards. I did that. I swiped ... loans than I had to. So I don’t regret all of the student loans I took out. For mortgage debt, given [more...]

Date: 2008-12-21 05:44:10

My Resignation

I have to leave my recent company which I have worked with for almost 4 years & 8 months (April 04 - Dec 08) due to some unavoidable reasons ... of things need to be taken into account:1. Cash Flow Issue: daily expenditure, car loan, PTPTN loan, credit card debts & etc2. Economy Crisis : during global economy down time, most companies are recently [more...]

Date: 2009-01-15 10:00:00

Learn How To Become Debt Free

I personally hate being in debt to any person or company, period. I prefer to pay cash because credit cards always seem to get me into more debt than I can handle. Sometimes, though, I realize that it is impossible to avoid getting into debt. Being in debt is bad [more...]

Date: 2008-12-30 09:12:27

Flotsam and Jetsam

Thomas Frank sounds the liberal refrain that markets aren’t so smart ... of markets. If you doubt that, wait until you see government-run car companies. David Ignatius worries ... out his credit cards without a hope of repaying the debt? What the heck? We’re all living in bailout [more...]

Date: 2009-01-01 14:57:28

Is It A Good Or Bad Thing That So Many Companies Are Going Out Of Business?

What exactly will 2009 bring us in terms of businesses closing down for good? ... to the economy - which while sad for the workers is not necessarily a bad thing. We have consumed ourselves ... $2.56 trillion in consumer debt, with the average household’s credit card debt amounting to $8,565 [more...]

Date: 2009-01-06 14:00:00

The Physical Side Effects of Debt

Anyone who has carried a heavy load of debt is keenly aware of its ability to strain your budget and your relationships, ... forced to stay in a bad job because relocating is simply not an option when living paycheck to paycheck ... like to donate to banks and credit card companies. Financial Peace Now imagine for a moment [more...]

Date: 2008-06-25 02:10:57

Debt Consolidation Explained

Debt Consolidation Explained December 16th, 2008 As more and more consumers struggle with out of control debts, ... large and small. In modern society, credit has become so simplified that individuals become burdened ... loan. These typically boast rates far lower than the interest rates offered by credit card companies [more...]

Date: 2008-12-16 15:57:23

The Most Common Questions About Debt Collections

by Jon Ochs If this current economic slow-down has found you in a position of financial difficulty, ... common questions people have in dealing with debt collectors. I got a letter in the mail from a collection company regarding a credit card balance. Why do they have my information? Why am I not being [more...]

Date: 2008-10-21 19:54:23

This Could Be The Day

This could be the day that you… decide to get out of debt start to live on a budget stop arguing with your spouse start talking to you spouse teach your kids about money send five extra dollars to the credit card company get rid of bad spending habits embrace bold, significant change choose to believe that you are worth it choose [more...]

Date: 2009-01-06 12:15:05

It’s the economy stupid!

It’s the economy stupid! Remember that being   said not all that long ago in a campaign speech? ... of all but essential credit cards, dine at home more often, terminate unnecessary trips ... . He will begin to save and start paying down debt. A company that has reached the limits of its credit [more...]

Date: 2008-12-09 19:16:05

Treasury bid to halt rent-back evictions

Owen and Moira Martin are among the many British victims of companies offering controversial sale-and-rent-back deals ... agreement to pay off about £26,000 of mainly credit card debt. 'My wife had a heart attack on my 50th ... offer to buy the property of someone facing repossession at a discount price, allowing the former [more...]

Date: 2008-11-09 00:04:48

Debt Relief Solutions and Tips For Everyone

It used to be that if you needed debt relief help, you just went to Mom or Dad to help bail you out ... problems are a very common occurrence in modern life.  We live in a society that promotes instant ... or have your credit card company suddenly get blown to kingdom come.  The sooner you deal with the problem, the sooner [more...]

Date: 2009-01-17 16:51:54

How I Ruined My Credit

by Frances Lexington A few months, I went through some rough moments in my life. I got laid off after the company I worked for went down. The bills piled up and I was unable to make my monthly payments. Eventually, all of my credit card accounts were charged-off and sent to collection agencies. My life became a living hell of collection calls and non-stop harassment from debt collectors. Finally, I filed bankruptcy and was relieved of my debt, but the damage to my credit was already done. [more...]

Date: 2009-08-05 17:13:14

Your Interest Rates Are About to Go Up

By Andrea Dickson The thing about financial crises is that they never fail to affect everyone ... that a home equity loan could be secured to pay off the personal debt. Now that home equity loans ... is causing some of the most accute problems. One of these problems is that your credit card company [more...]

Date: 2008-07-02 20:38:52

Obama Wants Everyone Out of Debt – Erase Up to 50%

This administration realizes that the economy is bad and people are suffering. President Obama is trying to put a limit on the amount of interest the credit card companies can charge you. But perhaps you have already gotten into trouble with your cre... [more...]

Date: 2009-09-11 16:06:20

Debt consolidation service

Nowadays almost all adults in American society has credit cards in their wallets ... is, there are companies who are willing to help those people who are in bad credit situation in fixing [more...]

Date: 2008-12-02 04:26:46

How I Got Bad Credit

July 31, 2009 | By Frances Lexington In Finance | by Frances LexingtonA few months, I went through some rough moments in my life. I got laid off after the company I worked for went down. The bills piled up and I was unable to make my monthly payments. Eventually, all of my credit card accounts were charged-off and sent to collection agencies.My life became a living hell of collection calls and non-stop harassment from debt collectors. [more...]

Date: 2009-07-31 23:37:24

No getting laid in the NYT

Rob Walker's "Consumed" column in the NYT Magazine on Sunday (9 November) looks at prepaid credit cards, in particular the Prepaid Visa RushCard, "the product of a partnership between Unifund (a Cincinnati company best known for buying up and collecting on bad debts [more...]

Date: 2008-11-12 15:59:03

JPMorgan profit drops 76 percent

JPMorgan Chase & Co. said that its profit fell 76 percent as rising defaults. The company said in a statement that the year-old U.S ... More consumers are paying late on their credit cards and mortgages, forcing banks to increase reserves, the statement said. JPMorgan has almost tripled its provisions for bad debt in the past year. Fourth [more...]

Date: 2009-01-15 14:23:57

Time for A Trip to the Mall

Andrew Leonard: There’s only one shopper with a purse large enough to make a difference in this kind of mess — and that’s the U.S. government ... cards, and digging themselves even deeper into debt at a time when credit card companies are raising ... t have any credit card debt, you’re gainfully employed, and you are staring at a $499 price tag [more...]

Date: 2008-12-02 15:17:43

Don’t let Credit any Credit Card Company Keep you Down

by Denzel Abintenk Unfortunately it is very normal for people to get themselves into severe debt using their credit cards that they require the ... and quickly find yourself in exactly the same position again. Credit card debt is a vicious circle, once ... of a credit repair company might seem like a good idea however it will almost certainly damage [more...]

Date: 2009-01-14 20:27:27

An Inside Look at Blueprint: Split, Finish and Track It

As we mentioned earlier , Chase has rolled out some new financial tools to help you track your finances and conquer your credit card debt. All in all, these simply amount to fancy ways of looking at your balance – but as anyone who regularly reads personal finance blogs knows by now, the road to a debt free (or at least a manageable amount of debt) is paved with discipline moreso than breaks from credit card companies. Blueprint offers Chase customers some flashy systems for motivating yourself. [more...]

Date: 2009-09-18 11:55:09

tips to get out of it

There are many reasons for people to face court actions, one of the many are financial cases, being submitted to court are because of bad credit. be it from credit card companies to other financial institutions, sometimes people tend ... rebuild their credit card! by providing Debt Counseling and debt referral by Suze Orman Tips [more...]

Date: 2009-01-14 13:06:08

Credit Card Issuers See the Writing on the Wall: Forgiveness of Debt — they also got paid in full through securitization, so there is no obligation owed to them

Credit Card Companies Willing to Deal Over DebtBank of America says it eased off on more than 700,000 credit card holders in 2008, ... ring of a phone.Graphic Behind Changing Tactics, Mounting Losses Related Times Topics: Credit Crisis — ... to foster the explosive growth of consumer debt in recent years, credit card companies are realizing [more...]

Date: 2009-01-05 00:34:25

You Can Legally Erase Your Credit Card Bill From Your Credit Card Company

American consumers can now legally and ethically discharge 50% of their debts that they owe to their financial institution. Not many Americans have been made aware of this fact because their CC company only wants them to pay the minimum payment each and every month and thus steal away their wealth from them pennies at a time so they go unnoticed.Last 5 posts by When Do You Apply For a Law Suit Loan? [more...]

Date: 2009-08-11 06:00:53

Debt Relief Companies Under Investigation by Florida Attorney General

The Tampa Bay Business Journal reports that Florida Attorney General's Economic Crimes Division has launched an investigation or filed charges against 10 companies offering Floridians credit counseling, credit repair, credit card rate ... about any company that purports to have a "secret process" to reduce debt or cut interest rates.  Credit [more...]

Date: 2008-10-18 14:48:20

What Does “Late” Really Mean? Beware of Sneaky Credit Card Fees

I spend a lot of time watching and listening to financial news reports; and since we’re officially in a recession, ... debts low and paying bills on time. However, it appears that credit card companies have found a way to mess with their reliable, responsible clients. Credit card companies can pretty much bet [more...]

Date: 2008-12-16 15:04:11

How To Deal With Bill Collectors

In today's unstable economy people are consumed with financial matters ... , the credit card company may report you to a collection agency. This debt collection company is hired ... . Initially, you'll receive calls from your credit card company informing you of your late payment [more...]

Date: 2008-12-04 01:40:51

Don’t Be Taken By Debt Consolidation or Credit Counseling Scams

Your credit cards are maxed out.  Your mortgage is spiraling out of control.  You have fallen behind on your car payments ... is that there is no “magical solution” to credit repair.  Even those companies which decide to report negative ... your debt by 50% and they will fix your credit overnight.  You call them, looking [more...]

Date: 2008-12-18 23:25:22

Why Your Credit Rating Is Important

by Steve Collins Credit ratings, at their most straightforward, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain [more...]

Date: 2009-01-17 22:27:43

Higher Ed, Banks and Credit Card Companies

Great commentary from Kevin Carey, which I've linked to just below, along with the NY Times article (below the fold) which spawned the story ... brochure inside encouraging students to apply for a credit card - often their first. This troubling practice has resulted in students completing college with credit card debt - often on top of student loans [more...]

Date: 2009-01-01 21:19:00

“Icing” The Credit Card

December 12, 2008 in Credit, Debt, Financing | Tags: All About Portland Oregon Real Estate, bail out, Betty Jung, Betty's Blog, betty-jung-blog, ... had saved $1800 just in one month by not using their credit card.   I’ve been reading a lot of blogs ... . Now I read how employees of some credit card companies were hired and instructed to participate [more...]

Date: 2008-12-12 09:01:34

Marketing Scams with Secured Credit Cards

When in debt, most people will do just about anything when it comes to re-building credit ... credit card, there are some things that you should look out for before submitting  that application ... sounding fishy.  Any major secured credit card company is going to make you wait while [more...]

Date: 2008-09-21 22:02:06

Collection Agency calling from 571-431-1958 (Washington, VA)

Steve reported a Collection Agency (5714311958 from Washington area, VA) . The following comments were posted: AACC AACC AACC 5127689800 AACC 804-234-9056 assetacceptance.com Asset Acceptance is a leading purchaser and collector of charged-off consumer debt. Since 1962, we have provided credit originators such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. [more...]

Date: 2009-09-25 19:53:49

Your Credit Rating And You

Credit ratings, at their most straightforward, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain? [more...]

Date: 2009-01-17 22:54:06

Bankruptcy Advice You Might Find Helpful

Bankruptcy Advice You Might Find Helpful October 29th, 2008 Subscribe To Our Feed Bankruptcy advice varies, depending on who you ask ... accounts in collections. When you’re seeking advice from a credit repair attorney, be sure to double ... . A credit card debt reduction company might say that it’s better to just stick it out, settle [more...]

Date: 2008-10-29 15:56:01

Your Credit Rating Is Important

by Steve Collins Credit ratings, at their most simple, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain [more...]

Date: 2009-01-17 22:53:50

Your Credit Rating And You

by Steve Collins Credit ratings, at their most simple, are personal debt histories ... of our financial behavior. Lenders and credit card companies look to credit ratings for the most simple assessment of whether we are a good or bad risk. But what kind of information does a credit rating contain [more...]

Date: 2009-01-17 22:41:15

Arrange Your Own Debt Consolidation and Save Money

Amazon.de Widgets Debt consolidation companies can and have provided excellent services to thousands who have had severe credit card debt and who were suffering financial problems as a result. However, these services are not free and also many people don’t like the idea of handing over their personal information to these companies. The solution: DIY debt consolidation. [more...]

Date: 2009-09-25 15:43:00

Debt Collections: Common Questions and Answers

by Jon Ochs If you find yourself in financial difficulty and are falling late on some of your bills, ... from a collection agency regarding a credit card bill. How did they receive my information? Why isn’t the credit card company contacting me directly? The company or organization that you initially [more...]

Date: 2008-10-19 22:19:34

Uncommon Money News (Vol. 42)

By: Roshawn WatsonIn preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news ... from more bad debt, credit problemsCitibank to receive $43 billion bailout but agreed to limit executive payCollege profit as banks market credit cards to studentsCredit card companies willing to deal over [more...]

Date: 2009-01-08 12:00:00

Finance Fiesta #7: Mamma Mia Edition

Welcome one and all to the 7th Edition of the Finance Fiesta!  This is the first carnival I have ever hosted, so hope it’s a good one for you ... she knows best.  I give these posts the thumbs up as the best of the week. Mr. Credit Card from Ask Mr Credit Card answers a question from a reader “A Collections Company Sold my Debt After it was paid [more...]

Date: 2008-07-17 13:00:20

Goldman Sachs and UBS Executives Will Forgo Bonuses

One of my concerns about the original bailout bill was that the money paid to financial institutions would be used to pay for outsized executive ... Money Be Used to Forgive Credit Card Debt?: ... ... bonuses. While companies must offer outrageous compensation to attract and keep the best executive [more...]

Date: 2008-11-17 16:41:38

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