Charge it! Charge it! Charge it! has become a common American mantra over the past few decades as Americans rack up more and more credit card debt . Now, according to an article at CNNMoney.com, consumers are starting to pay their mounting medical bills with plastic as well. Consumer advocates say this is a dangerous [...]
Bankruptcy offers the perfect opportunity to rebuild your credit score by using credit cards and other forms of debt shrewdly. Tips on how to master the credit score game: Tip #1 - Go for the top credit cards and other loan products first. Many debtors mistakenly believe that once they file for bankruptcy they are [...]
Don't Fall for Credit Repair Scams When Trying to Rebuild Your Credit For the last year, almost every economist and politician has developed a theory on who or what is to blame for our current recession. The reasons range from government inaction to the foreclosure crisis. Regardless of how it started, the recession is still [...]
Graduation from high school or college usually comes with a relief that you no longer have to struggle to "make the grade." That bubble bursts, though, when we discover that our credit report essentially serves as a continuing report card. Once your credit GPA drops, it can be somewhat challenging to repair your credit rating. [...]
Right now, most credit card consumers are required to agree to mandatory arbitration when disputes arise in order to receive their credit card. But according to an article in the Dallas Morning News, mandatory arbitration clauses in credit card agreements and other consumer agreements may be in its final days. The article said: "...the Obama [...]
Credit card companies may be forced to cut rewards to once again become profitable.An article on Reuters.com said that credit card companies are cutting back on rewards. The changes are a result of falling revenue. One reason for falling revenue is recently passed and currently pending legislation that will put regulations on credit card companies. [...]
According to an article in the Star-Telegram, credit card companies slashed credit limits for an estimated 58 million credit cardholders within the past 12 months, many of those credit card consumers had high credit scores, no missed payments and in some cases no balance. FICO studied a group of 30 million credit card consumers to [...]
According to an article in the Dallas Morning News, a new study by the Ewing Marion Kauffman Foundation revealed that new businesses using credit card debt to finance their ventures are less likely to survive the first three years. The article said: "The study indicates that in many companies' first few years, their credit card [...]
According to an article in the Star-Telegram , American Express and Discover credit card companies plan to eliminate their over-the-limit fees. The article said: "The two companies said separately Tuesday they will soon end the charges that have generated widespread criticism from consumers. The moves come before credit card regulations set to take effect in [...]
Many business owners/debtors considering bankruptcy are concerned about protecting their personal assets. If a business is a corporation, some debtors assume that creditors cannot pursue them personally for debts owed by the corporation. The truth is that creditors may have the power to pursue the debtor's personal assets under certain circumstances. The most important question [...]