fbpx

Stop The Faux Moral Outrage About Personal Bankruptcy

As the number of Americans filing bankruptcy reaches an all time high there has been a rise in the faux "moral outrage" against bankruptcy.  Many so called debt repayment "gurus" are thumbing down their collective noses at bankruptcy and the debtors who rely on bankruptcy to get a fresh financial start.  Many of these "gurus" [...]

By |2018-11-16T22:04:33-05:00May 22nd, 2010|Bankruptcy, Credit and Bankruptcy, Credit Counseling, Economy|Comments Off on Stop The Faux Moral Outrage About Personal Bankruptcy

Tackling Mortgage Debt And Bankruptcy

Now that many Americans are desperately struggling with debt, there has been a brand new crop of debt and wealth "gurus" who are imparting advice that may not be the best thing for many Americans struggling with debt troubles and considering bankruptcy.  One of the most often repeated pieces of advice for homeowners is the [...]

By |2018-11-09T16:28:51-05:00May 21st, 2010|Credit Counseling, Economy, Foreclosures, Loans / Mortgages, Managing Your Finances|Comments Off on Tackling Mortgage Debt And Bankruptcy

Some Credit Unions Say ‘Bye Bye’ To Overdrafts – Banks Should Too

Some credit unions are banishing overdraft fees by creating checking accounts and debit card options that eliminate overdrafts by limiting an accountholders ability to withdraw only the amount of cash available in the account. The new system is called Cash Points Global (CPG) which is a controlled spending account with only electronic access via the [...]

By |2018-11-19T22:15:22-05:00May 18th, 2010|Credit Counseling, Economy, Managing Your Finances|Comments Off on Some Credit Unions Say ‘Bye Bye’ To Overdrafts – Banks Should Too

Big Banks Pushing “Shadow” Payday Loans?

A new report was recently released by the Center for Responsible Lending, stating that many mainstream banks are offering short-term, high-interest loans that are basically payday loans in the form of a paycheck advances.  These loans charge $10 per $100 per month and amount to an annual percentage rate of 120 percent or more violating [...]

By |2018-11-12T19:48:50-05:00May 17th, 2010|Credit Counseling, Economy, Managing Your Finances, Pay Day Loans|Comments Off on Big Banks Pushing “Shadow” Payday Loans?

Don’t Be Fooled By “Free” Credit Health Companies

It's been seven years since credit bureaus have been required by law to provide Americans with annual access to their credit reports, at no charge; but the the AnnualCreditReport.com web site created to manage the process has been overshadowed by a variety of companies claiming they can offer "free" credit health reports leaving many consumers confused [...]

By |2018-11-14T19:14:34-05:00May 8th, 2010|Credit and Bankruptcy, Credit Card Negotiation, Credit Counseling, Economy, Managing Your Finances|Comments Off on Don’t Be Fooled By “Free” Credit Health Companies

Debtors Are Not Required To Financially Punish Themselves Because Of Past Mistakes

There seems to be an upsurge of anti-bankruptcy rhetoric aimed at indebted Americans to make them feel guilty about their financial circumstances which force them into bankruptcy.  Since the critics can't honestly say that bankruptcy is not an effective way to discharge debt and get a fresh financial start, now many are saying that bankruptcy [...]

By |2018-11-13T23:38:56-05:00May 6th, 2010|Bankruptcy, Bankruptcy Fraud, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Counseling, Economy, Managing Your Finances|Comments Off on Debtors Are Not Required To Financially Punish Themselves Because Of Past Mistakes

HAMP Foreclosure Prevention Program May Lower You Credit Score

Many homeowners facing foreclosure who sign up for the HAMP foreclosure prevention program are often faced with a lower credit score afterwards. And in many cases the credit score can drop as much as 100 points especially for homeowners who had not become delinquent on their mortgage despite financial difficulties. To enroll in the Obama [...]

By |2018-12-13T09:13:21-05:00May 1st, 2010|Bankruptcy, Credit Counseling, Foreclosures, Loans / Mortgages, Subprime Mortgages|Comments Off on HAMP Foreclosure Prevention Program May Lower You Credit Score

Why Debtors Considering Bankruptcy Should Stop Using Automatic Bill Pay

Automatic bill pay has become very popular, especially for those who want the convenience of having their monthly ongoing bills automatically deducted from their checking account.  But for debtors considering bankruptcy automatic bill payments are not a good idea. Here's why: You often have no idea what you are spending each month.  If you're considering [...]

By |2018-11-14T21:59:52-05:00April 29th, 2010|Bankruptcy, Credit Counseling, Managing Your Finances|Comments Off on Why Debtors Considering Bankruptcy Should Stop Using Automatic Bill Pay

How To Avoid The Coming Credit Card Backlash

With the implementation of the Credit Card Act last month, many credit card companies are taking actions to make up for lost profits.  The implementation of annual fees and inactivity fees are just two of the most commonly used strategies being utilized by credit card companies to fill in the gap of lost profits.  But [...]

By |2018-11-12T19:31:02-05:00April 28th, 2010|Credit Card Negotiation, Credit Counseling, Economy, Managing Your Finances|Comments Off on How To Avoid The Coming Credit Card Backlash

New Credit Card Disclosures May Not Reach Debtors Who Bank Online

The new Credit Card Act which requires credit card companies to disclose how much a debtor needs to pay each month to pay off their balance clean within three years, and how long it would take them to be debt free if only minimum payments are made may not effectively reach debtors who bank online [...]

By |2019-01-23T07:12:48-05:00March 19th, 2010|Credit Card Negotiation, Credit Counseling, Economy, Managing Your Finances|Comments Off on New Credit Card Disclosures May Not Reach Debtors Who Bank Online