The FTC (Federal Trade Commission) recently produced a new video the concisely explains consumers rights per the Fair Debt Collection Practices Act (FDCPA).  It does a good job of quickly explaining what debt...

The U.S. House of Representatives approved a bill yesterday that would end bank-based student loans.  If approved by the Senate the bill would only allow student loans to be issued by the government through th...

An important indicator in the banking industry is the charge off rate.  According to the FDIC’s Quarterly Banking Profile for Q209 “charge-offs and noncurrent loans continue to rise”. FDIC in...

Within the past year I have had numerous conversations regarding the increase in credit card APR/rates.  From my ground level perspective it has been readily apparent the credit card companies have been incre...

Generally speaking the best way to pay off your debt is to pay it off in full and on your own without the help of credit counseling or debt settlement.  However, if you think it is going to take more than thre...

With the downturn in the economy many fly-by-night debt settlement/debt negotiation companies have cropped up.  If you are shopping around for a debt settlement company be careful.  It seems with each passing...

Scams – Last week it was announced that Federal and State agencies are targeting foreclosure rescue scams/loan modification fraud.  The complete press release can be read on the Federal Housing Administ...

Someone recently asked about what happens in the case a creditor continues to collect on an account that has already been settled.  I spoke with our settlement department supervisor regarding this issue and sh...

If you received a tax refund this year please do not spend the money.  The first and best option is to save the money for a rainy day.  Most financial advisers recommend saving at least six months worth of ne...

Credit cards, personal loans, and any form of unsecured credit is pure evil.  The average American consumer does not need credit cards or ready access to unsecured credit.  Credit cards peddled at college cam...