What To Expect From The Credit Card Industry In 2010

After the passing of the Credit Card Act, which will restrict credit card companies' ability to increase interest rates, amongst other things, the credit card industry took decisive action to soften the blow to their profits. Below are some of the changes you may see on your credit card in 2010: An annual fee.  Since [...]

By |2017-12-13T02:11:29-06:00March 2nd, 2010|Credit Card Negotiation, Credit Counseling, Economy|Comments Off on What To Expect From The Credit Card Industry In 2010

Bankruptcy and Personal Responsibility

Bankruptcy and the debtors who seek bankruptcy protection have often been the unfortunate victims of unfair labels and generalizations.  One of the unfair and inaccurate labels given to debtors who file bankruptcy is "irresponsible."  Many people see bankruptcy as a cop out or an easy road away from trouble and view those who use bankruptcy [...]

By |2018-11-09T16:27:40-06:00March 1st, 2010|Bankruptcy, Bankruptcy Q&A, Credit Counseling|Comments Off on Bankruptcy and Personal Responsibility

It’s Been Years Since I Stopped Paying My Credit Card, Will They Sue Me?

In the state of Texas there is a four year statute of limitations on the ability of debt collectors to sue a debtor because of an unpaid credit card debt.  What that means is that if after your credit card debt is charged off, a debt collector only has 4 years to sue you and [...]

By |2018-11-16T21:29:11-06:00February 19th, 2010|Bankruptcy Q&A, Chapter 7 Bankruptcy, Credit Counseling|Comments Off on It’s Been Years Since I Stopped Paying My Credit Card, Will They Sue Me?

What You Need To Know Before You Pay That Credit Card Debt

Many debtors who have fallen at least six months behind on their credit card accounts are receiving payment demands from debt collectors.  These calls and letters can be unsettling and scary.  But it is important that debtors understand that debt collectors are infamous for using unethical and even illegal means to get you to pay [...]

By |2018-11-16T06:54:21-06:00February 17th, 2010|Credit Card Negotiation, Credit Counseling|Comments Off on What You Need To Know Before You Pay That Credit Card Debt

Credit Card Penalty Rates vs. Penalty Fees

Making a late payment on your credit card has always carried a heavy penalty.  Most prime credit card issuers will dramatically increase a debtor's interest rate for one missed payment.  The penalty interest rate is typically called the "default rate."  The average default rate for credit card issuers is 27.88 percent, and more than half [...]

By |2018-11-16T23:16:42-06:00February 16th, 2010|Credit Card Negotiation, Credit Counseling|Comments Off on Credit Card Penalty Rates vs. Penalty Fees

Seven Things You Need To Know About Delinquent Credit Cards

Most credit card companies will send a delinquent credit card account to a collection agency after 180 days of no payment.  These delinquent credit card accounts are usually sold for pennies on the dollar. Debt collectors who hold your credit card account are regulated by the Fair Debt Collection Practices Act and can be liable [...]

By |2018-11-13T18:48:27-06:00November 23rd, 2009|Credit Counseling|Comments Off on Seven Things You Need To Know About Delinquent Credit Cards

Credit Union Credit Cards Vs. Bank Credit Cards

According to an article in Forbes, as study conducted by the Pew Charitable Trust found that credit cards offered by credit unions may offer lower rates and cheaper fees than their bank issued counterparts. The article said: "The study found that the median advertised interest rates for credit cards issued by the nation's 12 largest [...]

By |2018-11-13T21:28:22-06:00November 11th, 2009|Credit Card Negotiation, Credit Counseling, Economy|Comments Off on Credit Union Credit Cards Vs. Bank Credit Cards

College Students and Parents Beware of Credit Card Offers

As the school year begins, credit card companies are in a mad dash to rack up as many new and young customers as possible before the Credit Card Accountability Responsibility and Disclosure Act of 2009 becomes effective February 22, 2010, restricting access to youth under 21 years old. According to an article in DetNews, credit [...]

By |2018-11-19T20:30:40-06:00August 28th, 2009|Credit Counseling, Debt and Tax Relief, Economy|Comments Off on College Students and Parents Beware of Credit Card Offers

Debtor Alert: “Credit Counseling” Deception

According to an article at KFoxTV, credit counseling/debt settlement companies are using deceptive practices to con credit card consumers by giving the impression that they are calling from a credit card company and offering "lower credit card interest rates." The article said: "Vasquez has received a number of calls on his cell phone playing recordings [...]

By |2018-11-14T19:49:06-06:00August 28th, 2009|Credit Counseling, Lawsuits|Comments Off on Debtor Alert: “Credit Counseling” Deception

Using Credit the Right Way

After your bankruptcy has completed, you need to take steps to make sure that you avoid the same mistakes that helped lead you to bankruptcy.   One of the things you can do to get your financial life back in order is to begin to use credit wisely.  Not only will using credit wisely help you [...]

By |2018-11-09T17:04:07-06:00August 27th, 2009|Credit Counseling|Comments Off on Using Credit the Right Way
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