Check Into Cash seems to be tweaking it's payday lending business in a way that would allow it to charge higher interest rates and offer longer term loans, a move that could help it get around existing payday lending regulations. Could other payday lenders follow Check Into Cash's lead? Blogger W. Bolton, summed it up [...]
Many debtors attempting to resolve their debt problems without the help of bankruptcy consider personal loans. They figure if they take out a personal they can use that money to cover their expenses and debts and avoid bankruptcy until they "get on their feet." While in theory it seems to be possible to avoid bankruptcy [...]
Since the passage of the Credit Card Act, many credit card lenders have been dreaming up new ways of getting more money out your pockets. One of the newest tricks on the block is the infamous "inactivity fee." Inactivity fees were at one point commonplace for credit cards; but eventually fell out of fashion. But [...]
Most debtor/homeowners facing foreclosure and considering bankruptcy are significantly delinquent on their mortgage payments. But whether you're 1 month behind on your mortgage payment or 6 months behind, Chapter 13 bankruptcy can help you catch up with your payments and return your mortgage to good standing. Here's how it works: When you file bankruptcy you [...]
When the foreclosure crisis first began, there was a lot of finger pointing mostly at the supposedly "irresponsible" homeowners who "bought too much house" in a quest to keep up with the Joneses. We were even treated to televised rants about how "good people" shouldn't be forced to pay for their bad neighbors' financial decisions [...]
Years ago rebates were offered as checks; but now most consumers receive rebates via cards that can be burdened with a variety of fees and can be difficult to redeem. And while the Credit Card Act covers both gift cards and prepaid cards, rebate cards will not be covered by the new law. The Credit [...]
Don't do online banking? You could be charged $1 to receive your credit card statement via mail. Over 90 retailers who issue store credit cards Dallas-based Alliance Data Systems have decided to charge customers $1 per statement if they receive their credit card bill via mail. Retailers such as Ann Taylor, Victoria's Secret and Bealls [...]
Citigroup's Chief Financial Officer John Gerspach announced this week that the Credit Card Act which was signed into law last year, will reduce his company's net pretax profit by $400 million to $600 million in 2010. Does Mr. Gerspach really believe that the average American has sympathy? For years credit card debt has been sending [...]
The Federal Housing Administration (FHA) has been hit pretty hard by the foreclosure crisis. The agency, which insures 30 percent of new loans in the U.S. against default, has suffered heavy losses due to a high rate of foreclosures. More than 18 percent of FHA loans are at least delinquent by 30 days. That's more [...]
When it comes to money troubles, friends and family are full of advice. One of the worse pieces of advice given to debtors considering bankruptcy is to get a home equity loan. That could be a big mistake. Here a few reasons why getting a home equity loan to avoid bankruptcy might not be the [...]