Managing Credit and Debt Archive

Recent statistics from the Federal Reserve revealed that “the total amount of consumer debt in the United States stands at nearly $2.4 trillion” and that, based on 2010 Census statistics “that works out to be …

File Segregation Scam If you have filed for bankruptcy or have bad credit generally, you could be the target of a fraud the Federal Trade Commission (FTC) calls “file segregation”. In this scheme, you are …

Students that are concerned to establish a good credit record whilst in college can benefit from a student credit card provided it is used responsibly. Naturally if there is a reward to had for using …

Are you living under a huge pile of debt? If so, you must dig yourself out of it for a variety of reasons. You will learn why focusing on debt reduction is a good idea. …

Are you interested in getting out of debt and stopping the monthly payments you must make to your creditors? If so, you are in the company of about 75% of the population that has found …

No one wants to have bills, especially credit card bills and other high interest loans. Nonetheless, as more and more people find themselves out of work, you may find yourself building up more debt than …

Obtaining a bankruptcy is probably the worst one time action that you could do to your credit report and your credit score. Obtaining a bankruptcy not only crushes your credit score, but will keep it …

A credit card limit is essentially the maximum outstanding balance one is permitted to have on a credit card at any one time. This will not only refer to the maximum amount of money which …

Would FREE copies your credit report be of interest? If you are committed to repairing your credit or simply want to know what is on your credit report, I have good news for you. A …

How to get out of debt during a recession. Former U.S. Federal Reserve Chairman Alan Greenspan said in February that the current global recession will “surely be the longest and deepest” since the 1930s (Source: …

The biggest sign that your debt is spiraling out of control is when you have to decide which of your major bills you are going to pay each month – in other words, you can’t …

Debt comes in many shapes and guises, from credit cards and overdrafts, to loans and mortgages. What all have in common is that they allow people to buy now, pay later. This is not necessarily …

When the siren’s call of ‘Spend, Spend, Spend’ is met with the battle cry of ‘Charge It! Charge It! Charge I!’ the consumer finds themselves sinking deeply into debt. No matter how hard they struggle …

Borrowing I recently applied to refinance my three year old mortgage with a mortgage broker. He was concerned by the ratio of credit card payments to gross income. Most of this was an American Express …

Ronald Reagan reportedly said that “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” The government said it was going to help banking customers avoid …

Using a debit card has become one of the most convenient ways to pay for purchases. Everything from a cup of coffee to gas – the debit card has replaced the use of cash. In …

There are some real advantages to using the right credit card for ones needs, as well as perceived benefits which only serve to boost the coffers of the credit card provider. An ability to distinguish …

Christmas rolls around every year. For most of us we have a set amount of people we buy gifts for. In our family with 8 kids, 3 grandkids and 1 more grandchild on the way, …

Do you earn an income? If so, it is essential to make the most of it. You will learn the basics of money management. If you are going to buy a house, you must do …

Everyone dreams of reaching a destination, which is financial independence. Don’t confuse financial security and financial freedom. Some people get satisfied when they feel financially secure in their nine to five jobs. Unfortunately, they end …

Personal debt is inevitable in the majority of households and is often split between instalment debt and revolving debt. Instalment debt in the form of mortgages and student loans is usually a set monthly amount …

American Express has entered the prepaid card market with its own prepaid reloadable card. Refreshingly the company does not refer to the card as a prepaid debit or credit card, a misleading term used by …

In the past, if you got into trouble with debt, it was easy to contact your attorney and file the necessary paperwork, and you were off and running with a clean slate, ready to start …

The most compelling reason for students to use credit cards whilst in college is to establish a credit rating that will stand them in good stead in the future. Capital One has introduced the Journey …

So it’s your senior year of high-school and it slaps you in the head that you’re going to want to go to college next fall, and you didn’t save any money to do so! Unfortunately …

Cease and desist letters must be notarized to confirm authenticity of the letter’s content and signer. Although cease and desist letters are not required to be notarized in all cases, it is a good idea …

The best information sources available about different types of companies are the reviews given by ordinary people who have used the company before you. A debt settlement company review can provide many different types of …

It’s wise to check your credit card bills carefully each month, line by line, to make sure all the charges are accurate.  Occasionally you may find something that doesn’t belong there. Or you may already …

Credit cards can cost the consumer dearly, or they can be cost free. It is entirely dependent on how much attention is paid to the small print when applying for a card and how it …

The rising cost of postage, the convenience and the time savings one can anticipate are a few of the reasons to use online bill pay to pay your credit card bill. This is however only …