After receiving your bankruptcy discharge, it's best to immediately begin rebuilding your credit history using a combination of secured credit cards and eventually other types of debt instruments. However, some post-bankruptcy debtors fail to develop a diverse credit history and may find themselves unable to qualify for some types of loans because of their limited [...]

What Are Mandatory Arbitration Clauses? More credit card companies and other lenders are adding mandatory arbitration clauses to their contracts and agreements with debtors. A mandatory arbitration clause basically says that both parties are prohibited from seeking judicial relief if a conflict arises and all disputes must be decided in arbitration. Sounds fair? Well it may [...]

 When the Creditor Challenges the Bankruptcy Discharge Sometimes when a debtor attempts to discharge certain debts in bankruptcy, the creditor will challenge the bankruptcy discharge. The creditor is allowed to file what's called an Adversary Proceeding so that they can plead the case of why the debtor should not be allowed to discharge a certain [...]

In a recent Chapter 11 bankruptcy of a business, the debtor was challenged by a creditor who claimed that the debtor/company was illegally using their brand to do business. The debtor, who had purchased a franchise license, was sued after they allegedly violated a non-compete agreement. The creditor/ franchisor in this bankruptcy case claims that the debtor is [...]

Have you experienced a credit card interest rate hike since January 2009? If so, you could be one of millions of credit card debtors who are granted a lower interest rate in the coming months. The Federal Reserve reported that credit card interest rates rose from an average of 13.57 percent in 2008 to 14.31 [...]

Debt consolidation is a favorite amongst debtors trying to avoid bankruptcyBut there are some hidden dangers in debt consolidation that every debtor should know about: Canceling a card before you have transferred the balance to the consolidated loan can be costly. Some credit card issuers will punish debtors with fees or an increased interest rate [...]

Sen. Richard J. Durbin is on the campaign trail again, but not for his seat in Congress, the legislator has his sights on the abusive practices of the burgeoning prepaid debit card industry which is known for its tendency to charge high fees for everything from activating the prepaid debit card to checking the balance. [...]

Your FICO Score, Debt Settlement and Bankruptcy As we have mentioned previously, many debtors prefer to go to any lengths to avoid bankruptcy, including going to debt settlement companies to settle their debt for "pennies on the dollar." But is debt settlement really better for your FICO score and credit rating?  Not really. An account [...]

You may have seen their commercials or the print advertisements for their debt settlement offers; but what you probably didn't realize is that they aren't offering any services at all but are instead selling the private information of desperate debtors to other so-called debt settlement companies, some of which were possible scammers. In a nationwide [...]

Colleges, alumni associations and related groups were paid $83.5 million in 2009 under agreements with credit card companies, according to a recent Federal Reserve report. Under the credit card agreements, schools and affiliated groups were paid for each new account they generated. How many of those credit card accounts were with students? Of the agreements [...]