Your credit score is calculated by factors that are often counterintuitive. One of the largest problems people face when trying to improve their credit is that they are ill informed. You heard your friend so and so say that this could help your credit, or your other friend said that could help your credit. Well [...]
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 [...]
According to an article in the Daily Finance, the amount of profits banks are earning from overdraft fees has nearly doubled since 2000 reaching a record $38.5 billion. The average bank overdraft fee rose from $25 to $26 for the first time in over 40 years, causing some consumers more trouble than their high interest [...]
As the many Americans face job losses, many are facing the prospect of being uninsured as their COBRA plans are either unaffordable or have run out. For those Americans who can't afford individual comprehensive healthcare going uninsured is often the end of the line. Unfortunately the uninsured are at a high risk of eventually becoming [...]
A survey released by Tamara Draut, vice president of policy and programs at Demos and co-author of The Plastic Safety Net: How Households are Coping in a Fragile Economy, revealed that 37 percent of low-income and middle-income households use their credit cards for basic living expenses such as housing, groceries and utilities on a regular [...]
A divided 8th U.S. Circuit Court of Appeals panel reversed a decision allowing a Chapter 7 debtor to discharge his student loans because they found that he did not face an undue hardship despite the immense amount of the loans. In the case of Educational Credit Management Corp. v. Jesperson (In re Jesperson), No. 07-3888 [...]
According to an article in the Washington Post, Capital One Financial lost $276 million in their second quarter, due to continuing losses from its credit card loans. Capital One's U.S. credit card business was down by 51 percent in 2009 compared to last year's numbers. The article said: "Chief executive Richard D. Fairbank told investors [...]
According to an article in the Bloomberg, commercial lender CIT Group Inc., is pulling no punches to avoid bankruptcy; but may need to file anyway. The struggling commercial lender said that it is trying to avoid bankruptcy with a debt tender offer to bondholders which would include a $3 billion loan and $1 billion in [...]
As if the economy wasn't taxing the budgets of most consumers enough, billing errors have compounded the frustration and stress of many Oncor and TXU Energy customers. The Star Telegram reported that about 130,000 customers received inaccurate billing during the month of May. According to the article, a Hurst police officer, Chris Teague utilized average [...]
Few things every credit card consumer should know about their rights: A credit card consumer cannot be discriminated against because of their family status. For example if you are a single parent a credit card company cannot deny you access to credit because of your family status. A credit card consumer has the right to [...]