Posts Tagged ‘credit’

A companion piece to the post by Sarah Byrnes from earlier this week.  Ex-bankers on pushing customers to rack up debt | cnn.com

BillShrink lets you find the right credit card based on your spending and payment habits. Find the Right Credit Card at BillShrink | Lifehacker

This blog has a lot of great information for consumers dealing with debt collection harassment. Here is a roundup of some of the best posts for consumers coping with debt collection:

What to do when a debt collector calls
Stop debt collector calls with the TeleZapper
Debt collection complaints going up; what to do if you get a [...]

MarketWatch has an article, “How to deal with a debt collector” that reads like it was written by a debt collector. Read if you like, but the tips you can find on this blog will probably do you more good.
How to deal with a debt collector | MarketWatch

Along with apparently every other member of the National Association of Consumer Advocates, I just got a letter (PDF) from Federal Debt Relief System, which says it is “restoring America’s freedom” on its letterhead. In the letter, FDRS says “Every account gets reviewed by a paralegal and is submitted to you as a Federal Complaint [...]

In bad times…a little good advice Credit Card Basics: Five Essential Skills for Mastering Plastic | getrichslowly.org

Close on the heels of the Star Tribune article on Minnesota’s debt-friendly collection laws, the editorial staff urges reform of Minnesota’s unforgiving debt-collection laws.
I agree. As I was quoted in the article by Kara McGuire and Randy Furst: “Once you’re in danger of losing money, I think the court should be on top of it. [...]

Credit-card companies killed Mythbusters segment on RFID vulnerabilities | Boing Boing

A son of Democratic vice presidential candidate Joe Biden was paid an undisclosed amount of money as a consultant by MBNA, the largest employer in Delaware, during the years the senator supported legislation that was promoted by the credit card industry and opposed by consumer groups.
MBNA and its employees have contributed over $200,000 to Biden’s [...]

Great tool for using the “snowball” method to pay off your debt. Debt Reduction Snowball Calculator | Vertex42 (via Consumerist)

While many businesses are suffering, the debt collection industry expects to make $14 billion this year, a projected 9.8% growth. “We’re in a record-breaking year,” says Paul Donatio of Transworld Systems, Inc. (recently acquired by NCO Group).
Individual debtors may be able to pay less, but collectors are still able to squeeze a profit. On the [...]

Although we spend a lot of time on debt collection and credit cards, more consumers are experiencing problems with medical debt than anything else. In fact, some consumers’ credit card debt may be linked to medical bills, as well. The fact that so many Americans cannot afford healthcare is a political problem, but debt collectors [...]

Make Sure Your Free Credit Report Is Actually Free | Lifehacker

“A study shows more people are doing the same—using cash, not credit. But that kind of fiscal responsibility worries credit card companies.” $8,000 debt turns credit card couple onto debit | CNN

Fixing our fuel crisis, credit crunch: a new course in home economics? | MinnPost

Beware Long-Term Cardholders With Perfect Payment Histories, Your Credit Lines May Be Slashed | Consumerist

“Rather than dealing with debt collectors, foreclosure procedures and repossessions, it is best to honestly assess your finances to determine the impact of unemployment. . . . [D]ealing with the issue early on will save lots of money and prevent you from staying up all night worrying about debt.” Managing Debt in Times of Unemployment [...]

I have a backlog of cool articles in my starred items folder in Google Reader. Here they are:

Good news from a debt-collection industry source: Collectors Face New Law in Colorado, and NY Considers Debtor’s Bill of Rights | Collection News
Countrywide CEO Gave Below Market Rate Loans To Senators From A Special “VIP Desk” | Consumerist
Subprime [...]

Anatomy of a Meltdown: The Credit Crisis | Washington Post

Settlement results in free credit monitoring service | CNN