Should You Pay Your Credit Card Bill Late? The Answer May Surprise You

One of our readers, Jay, sent us this question about debt negotiation: My wife and I earn $145,000 per year combined but have over $600, ... due note would be made on my credit report). Then, I want to negotiate a full payoff at a reduced ... consequences or necessary notations on my credit report aside from “Paid as Agreed”. Do you think [more...]

Date: 2008-12-09 15:49:26

Blog posts (264) | Videos (243)
 

Moving Forward: Debt Consolidation

Moving Forward: Debt ConsolidationMany Americans are feeling the pinch of the tumultuous economic times that we now find ourselves embroiled in ... not be allowed to damage your credit report and your ability to obtain a home loan. It is easy ... of homeownership, there are alternatives. Credit card debt that often accumulates during difficult financial [more...]

Date: 2009-01-08 22:38:03

Learn To Build and Manage Your Credit, While You’re Young

Everyone tells you that these are the best years of your life ... credit bureaus—Experian, TransUnion, Equifax. Your financial activities dictate your FICO (Fair Isaac ... established credit. Bounced checks mess up your credit report, so use that check-writing feature wisely [more...]

Date: 2008-08-16 03:56:51

Anyone Can Fall In Debt

You wouldn't know it from their Bresson-like hyperrealistic depiction on TV, ... by Callcredit, a credit report agency which also offers free advice for the debt-impaired. Donning ... to pay back loans and credit cards taken out over 12 months ago.”. No sh*t, Holmes! We've taken [more...]

Date: 2008-11-20 15:35:30

How to Set New Year’s Financial Resolutions You Can Keep

(source) Every year it’s the same old story. You start with the best of intentions but somehow never manage to fulfill your New Year’s ... goals. So start by finding out where you currently stand with a credit report from CreditReport.com or Equifax. If your credit score is lower than 700 due to some outstanding debt, see [more...]

Date: 2009-01-02 19:55:16

How to Set New Year’s Financial Resolutions You Can Keep

(source) Every year it’s the same old story. You start with the best of intentions but somehow never manage to fulfill your New Year’s ... goals. So start by finding out where you currently stand with a credit report from CreditReport.com or Equifax. If your credit score is lower than 700 due to some outstanding debt, see [more...]

Date: 2009-01-02 19:55:16

Which is the bigger problem real estate debt? Credit card debt?

This is one example of why our country is having problems. The following was posted on the web site bankrate.com ... , publisher of the Nilson Report, a payment industry newsletter”. Did I read that right 9.5 credit cards ... scoring model, the number of credit cards a consumer holds is not a factor in the calculation, even [more...]

Date: 2008-10-13 14:55:26

Princess Caroline Declines To Reveal Info About Personal Finances

The Caroline Kennedy for Senate story gets more and more interesting ... . Kennedy would have to file a 10-part, publicly available report disclosing her financial assets, credit card debts, mortgages, book deals and the sources of any payments greater than $5,000 [more...]

Date: 2008-12-23 15:38:33

Re-default nation

The big question looming over the push to rewrite the home loans of people struggling to make payments is whether or not such mortgage ... % of all first mortgages in the U.S. Dugan called the results, part of his agency's new Mortgage Metrics report ... consumers replaced lower mortgage payments with increased credit card debt?  Is it because the [more...]

Date: 2008-12-08 17:35:26

Debt Management

Debt not only causes stress and worry, but it could also harm your credit rating ... this to the credit bureaus. The negative report in turn has a huge impact on your credibility and your credit score. When deciding whether or not to take on new debt it is important to consider [more...]

Date: 2009-01-16 20:45:59

Bankruptcy and Buying a Home

Filing bankruptcy is a stressful time in a person’s life ... are now offering home loans for those who have a bankruptcy on their credit report. Some lenders will even ... . The loss of a job, unexpected medical bills, and overwhelming credit card debt are just a few [more...]

Date: 2009-01-03 08:57:46

Weekly Carnivals

So this week I’m starting a turbotax giveaway.  Subscribe to my RSS or Email feeds in the left sidebar, and EMAIL me the secret word; ... of Money Stories 12-22-08 Carnival of Credit Report Stories 16th Carnival of Bankruptcy and Debt 12-20-08 Carnival of Financial Planning 2nd Everything Credit Carnival I admit to not really reading [more...]

Date: 2009-01-04 20:35:39

Today’s best mortgages: How to Qualify

by Mortgage Wizard Equity The amount of equity you currently have your is a large factor when determining if you qualify for the best mortgage rates ... . (excluding utilities and other miscellaneous debts that do not get reported to the credit agencies [more...]

Date: 2009-01-04 20:51:44

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

Credit Score - An Introduction

Tip! Closing unused accounts is a negative strategy to raising one’s credit score ... in the data bases of the big three credit reporting agencies - Equifax, TransUnion and Experian ... . Factually, fewer open accounts with the same amount of debt ultimately reduces a credit score [more...]

Date: 2008-12-24 13:17:45

The truth about collection accounts.

by JR Rooney The debt collection industry is a billion dollar industry. According to Rapid Recovery Solution, Inc ... the account or legal action is taken against you. Collection agencies obtain the following information to develop a strategy to collect money owed: name, address, credit report, credit application [more...]

Date: 2008-12-17 08:13:34

Debt and Ad Shifts Putting Media Companies Under Pressure

Strong cash flow and fat profit margins usually insulate the media industry during times of economic stress, ... Credit Encyclo-Media” report, Fitch said higher-than-usual debt levels and depressed stock prices are exerting financial pressure in the current cycle, with some companies facing greater credit risk [more...]

Date: 2008-09-18 12:14:21

Money Hacks Carnival #39

Looks like another another miscue in the Carnival Land ... Transfers Offers posted at Blueprint for Financial Prosperity. Annual Credit Report posted at Identity ... for your participation. carnival Photo by Meagen via Flickr Credit and Debt Five Ways to Help [more...]

Date: 2008-11-20 03:25:15

How Does Bankruptcy Affect Your Credit Score?

For many consumers facing high levels of debt, bankruptcy may seem like the only available option ... clients will see this blemish on their credit report for up to seven years, but the implications don’ ... , as it can be hard to obtain credit, even with a clean slate. After the bankruptcy declaration [more...]

Date: 2009-01-08 02:16:12

Debt consolidation v IVA?

Why do people consolidate their debts or enter into IVAs (Individual Voluntary Arrangements)? ... ’s credit rating, and probably make credit harder to obtain and more expensive. It’ll stay on their credit report for six years, although this won’t really be an issue for the first five of those [more...]

Date: 2009-01-08 18:23:38

Metastasis of the Corporate Panopticon

In a report on how corporate spying and data mining contribute(d) ... of that data has been regulated by the Federal Trade Commission under the Fair Credit Reporting Act ... in the trash. The attributes of the people who bite on the offer, like their credit card debt, cash [more...]

Date: 2008-10-22 17:13:59

Unknown Caller calling from 949-378-1849 (Irvine, CA)

Jacob reported a Unknown Caller (9493781849 from Irvine area, CA) . The following comments were posted: Received a text message that says "Is your credit card debt $10,000 or more? Our debt relief program can lower your payments immediately. May we please give you a call?" Spammers are now openly hitting the cell phones? Where can I file an official complaint?? Permalink: http://www.numberinvestigator.com/phone/949-378-1849.html [more...]

Date: 2009-10-01 23:19:11

Tell Us Something We Don't Know: Consumers Deeper In Debt

From the "not news" file comes a report from credit rating firm, Equifax, that consumers are falling more deeply into debt. According to Reuters, Dann Adams,... This is a content summary only [more...]

Date: 2008-12-23 20:47:24

No home equity, no downpayment, no dice

  The following is from the The Mortgage Report Blog ... Mae tightened debt ratio and credit scoring requirements, however, the newest underwriting updates [more...]

Date: 2008-10-22 16:42:00

Data Mining and Credit Profiling: How Lenders Lure You to Borrow

Although responsibility for every penny of debt ultimately rests with the borrower, ... the Fair Credit Reporting Act. But Equifax and its rivals started offering new sets of unregulated [more...]

Date: 2008-10-28 12:00:54

Employee and Credit

An ordinary or typical employee which comprises the majority of the population usually depends on the the salary that they received every month, ... and can remove credit report errors which is undesirable to any prospective applicant.To tell you frankly ... resort to applying for credit to meet both ends. Some are good payers trying to pay their debt [more...]

Date: 2009-01-10 23:51:00

Foreign Central Banks Maintain Steady Agency Debt Selloff Pace

"Our inaction did not hamper credit markets — it helped to destroy them ... reported 2 a small increase in net central bank sales of Agency Debt over last week, but the offsetting buy of Treasury Debt was down considerably, so that the net result was a small $0.86 billion "dip [more...]

Date: 2008-10-31 07:05:02

More Important Than Lipstick, Take 3

by hilzoy From the NYT: "Tracey Minda needed cash to buy clothes and school supplies for her 6-year-old son before the 2006 school year ... , banks and credit cards remain in business. I wonder how? According to this CBS report ... her debt. Ohio lawmakers sought last spring to aid borrowers like Ms. Minda by capping annual [more...]

Date: 2008-09-13 04:07:30

FTC Reports Increasing Collection Abuse Complaints

Are you the victim of collection abuse? As economic problems in America worsen, debt collection methods become more aggressive ... billion in revolving debt such as credit cards. In 2003, Americans owed a total of $770 billion, showing ... their credit card bills on time. The American Bankers Association revealed 4.5 percent of bank-issued credit [more...]

Date: 2008-11-11 01:42:27

HEARTS AND MINDS

"Wasn't this kind of decline inevitable?"Home prices skyrocketed over the last eight years to unheard of highs ... in debt. That includes home, car, credit cards, student loans, etc. According to the same report [more...]

Date: 2008-12-30 18:05:00

Young people should act on debt early

Following a study suggesting that the 18-34 age group are most at risk from the credit crunch, with many carrying significant debts, ... sense of security”. As a result, they have “run up huge credit card bills, smashed their piggy banks and are now staring at a broken housing ladder”, the report claims. The report dubs the age group [more...]

Date: 2009-01-08 19:11:08

BAILING OUT A LIFESTYLE?

I need to admit from the get-go that my understanding of economics is best exemplified by the look on my accountant's face sometime between his ... sheet, bring a film in under budget and discern that a financial report from a Canadian producer ... as smart as the guys on Wall street who thought up all kinds of fancy debt instruments and easy credit [more...]

Date: 2008-11-13 06:22:41

Doug E. Fresh In Financial Trouble -- Faces Foreclosure, Tax Debt

Legendary rapper Doug E. Fresh seems to be the latest in a number of musicians and celebrity feeling the crunch of the recession. He is reportedly foreclosing on a few homes in New York's Harlem area.According to a report ... E. is also being pursued by credit card giant American Express for nearly $60,000 in debt, and the IRS [more...]

Date: 2008-12-16 23:39:00

Easy Debt Advice for Proper Debt Management

This Article is all about finance which gives detail information how to utilize the finance in your daily or monthly basis ... to be an ongoing expense. Also order a copy of your credit report and look it over carefully to ensure ... and live a happier life! Read on below for great debt advice to help free you from those ever [more...]

Date: 2009-01-14 21:02:09

The Borg: A Financial Allegory

This is an allegory explaining some of the monetary issues associated with the current financial crisis. It was written by Jason Bradford ... The Reality Report. I have never been a huge follower of Star Trek, but when thinking ... that the face value of money is what it is. Money is created through forms of credit and debt, i.e. [more...]

Date: 2008-10-06 14:38:07

Eric Margolis: Send America to Rehab

For the complete report from The Huffington Post click on this link Send America to Rehab The US economy must be weaned off credit addiction ... . The economy needs a period of austerity in which remaining credit bubbles, bad debt, and financial ... is a sign of utter desperation and an act of folly. Once investors realize that Europe, Canada [more...]

Date: 2008-12-26 20:28:55

Reader Mailbag #30

Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance ... report sexual harassment How I manage my ideas Should you help people who won’t help themselves ... the next 6 months, after which I will have eliminated my credit card debt and half of my student [more...]

Date: 2008-09-29 14:00:56

U.S. Telecom and Cable Credit Profiles to Weaken in 2009

Debt ratings agency, Fitch has updated a ratings report issued last month and now says that it expects that revenue growth will be negatively impacted by growing local exchange carrier access line [more...]

Date: 2009-01-11 21:21:17

American Household Debt Declines, Personal Saving Rate Increases

This morning, Karl sent me a link to a CNN/Money article that is simultaneously happy and sad: ... ever, based on data going back to 1952. According to a Federal Reserve report released Thursday ... choice. USA Today writes: The decline in household debt levels is evidence of the severe credit [more...]

Date: 2008-12-11 23:00:20

Falling Out Of A Bed That Gets Higher Every Day

The Herald Tribune reports from Florida. “Mark Brivik, a real estate investor who made a living buying, ... off her credit cards and ripped them up.” Still, even without credit card debt, Lesso is struggling [more...]

Date: 2008-11-24 14:34:43

Guaranteed Advertising ROI in a Tough Economy

How in the world can they afford to keep advertising like they do? You've seen 'em. Those companies who offer to do battle with the IRS if you owe large income tax debt. The credit ... , which ring into a call center. Experienced telemarketers convert the calls to sales, and report [more...]

Date: 2009-01-02 05:52:00

Obama Stimulus Consigns US to ‘Banana Republic’ Territory

The Washington Times reports: The United States will “look like a banana republic” unless it gains control over its budget deficit and federal debt, ... one measure of America’s creditworthiness — credit default swap spreads — already shows some deterioration. The worse a nation’s credit rating becomes, the more its CDS spread rises. U.S. sovereign [more...]

Date: 2009-01-16 16:52:42

Debt Grants Provide Debt Relief

Numerous federal and private debt grants are available for you to obtain in order to reduce or eliminate your debt right away ... grants, so it will never end up on your credit report. If you’re asking yourself why you’ve never [more...]

Date: 2009-01-05 16:54:45

What To Do When You May Lose Your Job

According to the ADP National Employment Report, the US economy shed 250,000 jobs from October to November 2008.   Job loss can happen to you! ... .  Do you know how much money you need to live on?  Some people never check until they lose their jobs ... about your credit card debt. If you owe more than you can pay off in a three month period, then you may [more...]

Date: 2008-12-05 23:39:46

Debt Grants Provide Debt Relief

Numerous federal and private debt grants are available for you to obtain in order to reduce or eliminate your debt right away ... grants, so it will never end up on your credit report. If you’re asking yourself why you’ve never [more...]

Date: 2009-01-03 23:23:42

What are your alternatives for filing bankruptcy?

The term ‘bankruptcy’ conjures up an image of someone publicly disgraced and broke ... for long. It will remain on your credit report for nearly 10 years due to which no reputed lender ... as a part of the Insolvency Act of 1986 and is a legally approved debt solution. When you opt for an IVA [more...]

Date: 2009-01-16 08:28:53

DrumBeat: October 19, 2008

Gazprom Debt Priced as `Distressed' Amid Russian Market Turmoil (Bloomberg) ... .'' Credit-default swaps on Gazprom, the state-controlled monopoly for natural gas exports, climbed 79 ... because of the risks from the global credit crisis, Interfax reported. The government will invest 175 [more...]

Date: 2008-10-19 13:59:58

Cut Costs On Your Restaurant Bill – Eat At Home

This is a guest post from Trisha Wagner, a freelance writer for DestroyDebt.com. Destroy Debt is a debt community featuring debt forums ... with staggering debt levels, unemployment and reaching the end of their credit limit. The restaurant ... my son to his favorite restaurant after receiving a good report from daycare. As we got in line [more...]

Date: 2009-01-06 11:00:02

U.S. Government Default?

Greg Ip reports:Thanks to the advent of credit derivatives -- financial contracts that allow investors to speculate on or protect against default -- we can now observe how likely global markets think it is that Uncle Sam will renege on America's mounting debts. Last week, markets pegged the probability of a U.S. default at 6 percent over [more...]

Date: 2009-01-13 12:36:00

Losing Confidence - and Sleep

Losing Confidence — and Sleep By Lisa Belkin Illustration by Barry Falls Already an insomniac, I find myself awake at 2 A.M ... one awake in the night, it seems. A report released today by ComPsych Corporation, a provider of corporate ... , the worries break down like this: Cost of living: 30 percent Credit-card debt: 29 percent [more...]

Date: 2008-10-27 15:47:05

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