A New Culprit

American ScofflawThere’s no shortage of blame for the mortgage crisis that drove the economy into the ditch ... by the credit card industry.So say three researchers at the Federal Reserve Bank of New York, who argue that the legislation shifted risk from credit card lenders to mortgage lenders, helping trigger the surge [more...]

Date: 2009-01-13 21:46:00

Blog posts (107) | Videos (161)
 

Bankruptcy Laws Make Opportunity for a Credit Repair Business

by William Blake In times past people would find themselves in huge debt and with serious credit problems and they would quickly turn to bankruptcy ... a great opportunity for credit repair businesses. Must Speak With a Credit Counselor The new law makes it mandatory for people to get counseled on credit repair before they can file for bankruptcy [more...]

Date: 2009-01-05 07:26:11

Credit Card Debt: A Broader Societal Problem

The question of where the credit card debt crisis came from may finally have a clear-and uncomfortably unavoidable-answer ... to give gifts to their friends and loved ones. Current estimates place the national credit card debt ... alike was whether the problem stemmed from the aggressive and liberal activities of credit card [more...]

Date: 2009-01-03 16:12:13

Herman Daly: The Disconnection Between Financial Assets and Real Asssets

This is a repost of Herman Daly's comments on the credit crisis from October 13 of this year. The original post and comments can be viewed here ... . This is because the debt is worth much less, not because there is not enough money or credit ... on it in the amount of future debt. The value of present real wealth is no longer sufficient to serve [more...]

Date: 2008-12-25 18:07:03

Herman Daly: The Disconnection Between Financial Assets and Real Asssets

This is a repost of Herman Daly's comments on the credit crisis from October 13 of this year. The original post and comments can be viewed here ... . This is because the debt is worth much less, not because there is not enough money or credit ... on it in the amount of future debt. The value of present real wealth is no longer sufficient to serve [more...]

Date: 2008-12-25 12:46:44

Personal Bankruptcy Rising

Front page NYT article on the increasing number of personal bankruptcy filings: ... , legal scholars, retired bankruptcy judges — was passed after the credit card industry spent more than ... you that this bill was pushed by the credit card industry — mostly based on claims that were factually [more...]

Date: 2008-11-16 13:39:54

Trickle Down Effects of Letting U.S. Automakers Go Bankrupt

This is a guest post by Steadfast Finances‘ Matt. The U.S ... , and the subsequent tightening of the credit markets, the Big Three automakers once again find themselves ... , they are fighting for their very existence, or at the very least, to stave off bankruptcy [more...]

Date: 2008-11-10 16:00:27

Bankrupt toy seller tells Washington AG that gift cards will expire

Got a gift card from KB Toys? Use it or lose it. The Washington Attorney General’s office says this week that the company has given notification ... for Chapter 11 bankruptcy, the office says. Under Washington’s gift card law gift cards and gift ... that it is liquidating its stores and will not accept gift cards or store credit after Sunday, Jan [more...]

Date: 2009-01-06 15:22:01

Tapped Breaks Down the First Ten Senate Bills

Tapped Breaks Down the First Ten Senate Bills Tapped is reporting on the first ten bills that will be considered by the Senate and provides some ... another go at the Ledbetter law ("removing barriers to fair pay for all workers"). S.3 -- Homeowner ... Street bailout -- a larger part of foreclosure reduction. S.4 -- Comprehensive Health Reform Act of [more...]

Date: 2009-01-06 17:43:49

Your Credit History: What Gets Reported And What Does Not

A credit report is a document that outlines your financial status, specifically your credit history ... or application for a credit card or insurance beyond $150,000 and unpaid tax liens. Information from public ... years. Certain records do not appear. Debt records more than seven years old and bankruptcy records [more...]

Date: 2009-01-15 07:27:56

Bankruptcy Reform Caused More Foreclosures

This research is from the NY Fed. It finds that bankruptcy reform shifted default risk from credit card lenders to mortgage lenders and in doing so ... in subprime foreclosures by shifting risk from credit card lenders to mortgage lenders. Before BAR, any household could file Ch. 7 bankruptcy and have credit cards and other unsecured debts discharged [more...]

Date: 2008-12-12 22:43:00

Got a gift card for Christmas? Use it ASAP

Filed under: Cards, Shopping, BankruptcyCheck out the story I did for CreditCards ... keep falling right and left, Congress may have to change the bankruptcy laws for gift cards so paying ... not be the last drop in the bankruptcy bucket -- January and February are the two months when most retail [more...]

Date: 2008-12-25 15:00:00

Student credit card:Is it a need?

Credit card is really a necessity in modern world. Without carrying so much cash, you can just buy using the credit card ... card can be used the same way as a traditional credit card, although they do come with certain ... and credit cards issuer require co-signer for student credit card application to avoid the risk [more...]

Date: 2009-01-12 00:47:16

Media & Politics (one section only today)

Media & Politics (one section only today) 06-Jan-09 Permanent link to MTA daily media news Quote of the Day (Political Wire) ... is a Professor of Law at Indiana University, a former OLC official in the Clinton administration (as well as a former ACLU counsel), and a graduate of Yale Law School.  She’s become a true expert on executive [more...]

Date: 2009-01-06 18:43:24

Fast Lane to Repair Your Credit

If you have bad or blemished credit, a little bit of effort on your part can raise your score in no time ... to loan you money or give you a credit card with a bad credit score, chances are that you will pay ... . There are credit repair services that can help you in this task - and they charge only a modest [more...]

Date: 2009-01-05 04:48:59

Fiscal Therapy

Getting the economy back on its feet, giving taxpayers a break, saving your retirement fund and your kid's college tuition? Done ... . Today, more and more of us do not have enough money to live on without going into debt. For each dollar [more...]

Date: 2009-01-12 09:26:00

Saving your credit and credit scores

I have blogged about my experiences with American Express and their systematic reductions in my credit lines ... report. Canceling a card with a good history will impact your credit, but being at 99-100 ... . American Express along with the other credit card issuers were simply trying to keep their head above [more...]

Date: 2009-01-14 23:51:28

Mervyn's: A Eulogy

I’ve been trying to write about Mervyn’s (1949-2008) ... announced sale of Mervyn’s to a group of private equity firms, and sale of the Mervyn’s credit card ... for bankruptcy. After finalizing debtor-in-possession (DIP) financing in August, there was hope [more...]

Date: 2009-01-05 08:01:00

Obama's Economic Speech

I've posted his major speeches in full for the past eighteen months. His latest - given today in Toledo, Ohio - continues after the jump ... this week and see that so much of their hard-earned savings have disappeared. The credit crisis [more...]

Date: 2008-10-13 23:32:00

Oversight Panel Report Grim, Tough, Inviting

Americans are being formally invited to participate in discussingthe ongoing federal program to stabilize the ... , Harvard Law Professor Elizabeth Warren, plus AFL-CIO Associate General Counsel Damon Silvers [more...]

Date: 2008-12-11 22:13:12

Friday Digest - Vol. 09 No. 01

Friday Digest — Vol. 09 No. 019 January 2009THE FOUNDATION"A Constitution of Government once changed from Freedom, can never be restored. Liberty, once lost, is lost forever." --John AdamsPATRIOT PERSPECTIVE2008 in review: Top questions Barack Obama did not answerBy Mark AlexanderPerhaps you've noticed an abundance of "Top Ten" [more...]

Date: 2009-01-09 16:19:00

Chief of fraud-hit Indian IT firm Satyam arrested - AFP

▼ 10-01, 04:51 419legal General Fraud News Newest Members Top Posters Top Referrers WayToGo 10-01 echo1 10-01 Violet 10-01 ... Briggs Home Scam Type BurnLounge Scam Carlton Sheets Scam Dallas Puppy Scam Debt Elimination Scams Ebay Scam Emails Scams Gift Card Scam Greatest Vitamin in the World Scam Internet Scams [more...]

Date: 2009-01-10 04:51:58

New home loan modification legislation may require homeowner bankruptcy

Author: Dave New home loan modification legislation may require homeowner bankruptcy Posted: Thu Jan 08, 2009 12:30 pm (GMT 0) Topic Replies: 33 In retrospect, the 2007 bankruptcy law came just in time for credit card companies. If bankruptcy judges become the primary tool by which mortgages are modified, the number [more...]

Date: 2009-01-13 14:07:31

Gates of Vienna News Feed 10/20/2008

News collected by the Baron before he left for parts unknown.Thanks to C. Cantoni, ESW, Insubria, JD, LN, TB, turn, and all the other tipsters who sent these in. Headlines and articles are below the fold.- - - - - - - - -USAA Liberal SupermajorityMilitary Report: Terms ‘Jihad, [more...]

Date: 2008-10-21 03:49:00

A Hint Of The Nightmare To Come

It’s Friday desk clearing time for this blogger. “For four years the Neal family called a two-family house in New Haven, home. The Neals have had their house on the market for a year and a half. They’re frustrated but patient. They understand this is a tough time to sell [more...]

Date: 2008-10-31 21:25:41

Obama's Speech On The Economy

The complete text, via Sargent, is on the flip. Two things stood out for me. First, the 90 day moratorium on mortgage foreclosures ... that so much of their hard-earned savings have disappeared. The credit crisis has left businesses large [more...]

Date: 2008-10-13 22:39:16

Comic for January 2, 2009

Comic for January 2, 2009 Posted by guestpost as Funny Stuff Comic for January 2, 2009 just to make you smile ... 2007 September 2007 Personal Finance Blogs I Love Money, Matter, and More Musings Consolidate Debt ... Consumer Debt Cool Things Credit Cards Credit Report Credit Score Credit/Debt Counseling [more...]

Date: 2009-01-02 10:54:41

November 2008 - Net Worth Update and Personal Finance Status

In an effort to encourage readers to learn to calculate net worth and track their personal financial progression, ... and Liabilities Balance $ Change % Change Credit Cards $3,872 $2,372 158.13 % Car Loans $0 $0 - Home ... economic climate amidst the ongoing credit crisis backdrop [more...]

Date: 2008-11-21 21:07:42

U.S. mortgage meltdown linked to 2005 bankruptcy law

U.S. mortgage meltdown linked to 2005 bankruptcy law By DAN MARGOLIES The Kansas City Star There’s no shortage of blame for the mortgage crisis ... file bankruptcy and get rid of their credit card debt, and that would free up income to pay ... paying credit card debt, which makes it harder than [more...]

Date: 2009-01-13 15:34:15

Comic for January 3, 2009

Comic for January 3, 2009 Posted by guestpost as Funny Stuff Comic for January 3, 2009 just to make you smile ... Celebrity Consumer Debt Cool Things Credit Cards Credit Report Credit Score Credit/Debt Counseling ... Do I Get the Credit Card Company to Lower My Payment to What I Want? - Sally Comic for January 6, 2009 [more...]

Date: 2009-01-04 02:32:53

Guest Post: Obstacles or Excuses for Inaction?

[Editor's Note: Last week, Treasury Secretary Henry Paulson said that he planned to expand the $700 billion bailout plan to aid private student loan ... , consumer advocate Deanne Loonin takes a critical eye to lenders' arguments for why [more...]

Date: 2008-11-18 16:20:09

Economic Snapshot for October 2008

 Center for American Progress ... Street have already translated into tighter credit for Main Street. Businesses and homeowners, among others, now have less access to credit, which means that consumption and investment will likely [more...]

Date: 2008-10-18 17:10:21

THE SHALLOWEST GENERATION

James Quinn is a senior director of strategic planning at The Wharton School of University of Pennsylvania.  James has held the positions of treasurer, controller, and head of strategic planning at with retailers, homebuilders and the university in his 22-year career [more...]

Date: 2008-11-15 14:27:00

Why You Should Avoid Paying Income Taxes with a Credit Card

We all agree that the credit card is very convenient. That is why the IRS allows you pay your taxes through it. To sweeten the deal, credit card companies offer rewards in the form of frequent flyer miles ... card payments. However, you, the taxpayer has to pay for it. So, every time you use your credit card [more...]

Date: 2009-01-11 04:36:25

Full Text: Barack Obama Economy Speech | Toledo, Ohio | October 13

A Rescue Plan for the Middle-Class As Prepared for Delivery We meet at a moment of great uncertainty for America ... this week and see that so much of their hard-earned savings have disappeared. The credit crisis [more...]

Date: 2008-10-13 22:22:45

Ebook: Conserving Your Assets

Personal finance blogs are all over the place! Technorati says there are over 800 personal finance blogs. So how the ... Love Not Debt (43) Mighty Bargain Hunter (37) Everybody Loves Your Money (28) Wheaties ... (18) No Credit Needed (17) Experiglot: Experiments in Finance (15) Single Ma’s Fabulous Financials [more...]

Date: 2009-01-13 03:31:01

More Photos:

Related Links Mary Carey Selling Breeaast ImplantsSunday, January 11, 2009 Posted by kk group 1 Comments to benefit the Susan G ... accumulates at the top, the currency looses value, the middle class slip further into debt and the lower [more...]

Date: 2009-01-11 14:14:00

Bankruptcy To Include Mortgages? Possibly In The Future

The current system has HELOCs pitted against VISAs. And VISA is winning ... of foreclosures lenders are already being pitted against lenders. The credit card companies ... and credit-card loans, according to Keefe, Bruyette & Woods. ...Bankruptcy reform legislation has "increased [more...]

Date: 2009-01-13 13:34:00

PROTECTING AMERICAN JOBS IS A BAD THING By: Devvy

January 8, 2009© 2008 - NewsWithViews.com “Tell them (the South Carolinians who wanted to nullify the Tariff Act of 1832) that I will hang the first man of them I can get my hands on to the first tree I can find [more...]

Date: 2009-01-13 13:52:52

Who is Cathy Shaughnessy?: Dem Far-Left Candidate's Bankruptcy Fraud Shows Blogs' Importance; End of MSM Investigative Journalism; Embodies Mortgage Bailout BS; UPDATE: Mortgage Fraud, Too?

By Debbie Schlussel The story of Cathy Shaughnessy is important on many fronts. This far-left Democratic candidate for office demonstrates why blogs are important because some of them--like this one--actually do the investigative journalism the mainstream media won't [more...]

Date: 2008-10-22 17:37:49

Gaining Control of Your Business and Personal Finance is Key in Surviving Today’s Financial Crisis

Probably the Term of The Year in today’s business and finance world is “gaining control” ... , they might include eating out, uncontrolled credit card uses, and so on. In your business finance ... . Today’s tight credit policies and financing woes leave your business and personal financial [more...]

Date: 2008-11-21 18:55:27

Happy New Year!

2009 Happy New Year from all of us here at Ask Mr. Credit Card.com! ... the viability of a class action lawsuit against the credit card companies - they are lowering people’ ... the easy way All new credit card reviews and the ability to ask your questions in the forums [more...]

Date: 2009-01-01 19:57:28

GOPUSA ILLINOIS Daily Clips - January 6, 2009

Articles of interest to Illinois Republicans recently posted by ABC7, NBC5, CBS2, Chicago Tribune, Chicago Sun-Times, Crain's Chicago Business, Daily Herald, Suburban Chicago News, Suburban Life, Pioneer Local, Southtown Star, Rockford Register Star, Bloomington Pantagraph, Peoria Journal Star, Springfield State Journal Register, [more...]

Date: 2009-01-06 14:05:29

Shane Co. Bankrupt

Denver's most advertised jeweler, Shane Co., has filed for bankruptcy under Chapter 11. The survival rate of retailers in bankruptcy under the new bankruptcy law adopted in 2005 is horribly low, mostly because the new bankruptcy law makes it hard for retailers to benefit [more...]

Date: 2009-01-12 22:06:00

Three Legislative Proposals That Could Have Major Consequences for Your Finances

J.D. is on vacation. This guest post comes from DR of The Dough Roller, a money management blog ... that is quietly pending in Congress. Ranging from credit card reform to foreclosure assistance [more...]

Date: 2008-12-18 13:00:42

CIS Nationwide: Be Your Own Private Investigator

Find out how anyone can find out about you -- and more importantly -- how you can find out about anyone. CIS Nationwide used by private investigators on a variety of tasks and reasons offers services to consumers. Save yourself some time and money and do your public records search yourself [more...]

Date: 2009-01-07 21:03:14

Death of the American Empire

America is self-destructing & bringing the rest of the world down with it by Tanya Cariina Hsu I believe that banking institutions are more ... forever keep producing debt to stay alive. It was able [more...]

Date: 2008-10-24 13:01:18

Weekly Economic Potpourri November 29, 2008

Every week there are a numerous headlines that are worthy of mentioning but I simply run out of time ... owner Taubman Centers Inc., offered a $20 gift card voucher to the first 2,008 vehicles travelling [more...]

Date: 2008-11-29 18:46:00

Midwest Voice: US Economy: Greedy credit card companies and Congress created a financial disaster - by Yael T. Abouhalkah

For the complete report from the Midwest Voices click on this link US Economy: ... act, people could file for Chapter 7 bankruptcy, which erased unsecured debt such as credit card ... Greedy credit card companies and Congress created a financial disaster - by Yael T. Abouhalkah [more...]

Date: 2009-01-14 14:45:43

Obama Campaign Advisers Hold News Teleconference on the Economy

CQ Transcript: Obama Campaign Advisers Hold News Teleconference on the Economy | CQ Transcriptswire In Brief - All can be done under existing laws: Jump start job creation. Financial relief for families. Help for homeowners. Addressing the financial crisis [more...]

Date: 2008-10-13 21:29:17

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