[caption id="attachment_76" align="alignleft" width="300" caption="Even Santa might be tempted to max his credit this holiday. (Photo Courtesy: Getty Images)"][/caption] Reports from last week’s Black Friday holiday shopping tell the tale of shoppers who are using their credit cards a bit less than last year. According to a National Retail Federation survey of 8,692 consumers reported...
[caption id="attachment_69" align="alignleft" width="197" caption="U.S. senior citizens are facing an unprecedented spike in bankruptcy filings"][/caption] While the news media focuses most of its efforts on covering the economic downturn and its effect on the young and middle aged populations, there is a silent yet growing contingent of Americans who are facing financial hardships and the...
[caption id="attachment_40" align="alignleft" width="210" caption="U.S. Bankruptcy Courts Still Seeing an Increase in Filings"][/caption] U.S. bankruptcies increased 35% over the last year with 1.3 million bankruptcy cases filed between July 2008 and June 2009 as the recession took a steep toll on households and businesses, said the Administrative Office of the U.S. Courts on Thursday. Leading...
[caption id="attachment_58" align="alignleft" width="291" caption="Those ATM machines could be costing you a pretty penny."][/caption] Since the banking ‘meltdown,’ one area of increased concern for consumer advocates is whether the fees charged by the banking industry for overdrafts on bank accounts are unfair and deceptive. Often times consumers believe that they are acting in their best...
[caption id="attachment_51" align="alignleft" width="385" caption="Bankruptcy filings still on the rise"][/caption] A recent LA Times blog (August 10, 2009) by Tom Petruno* highlights the highly controversial and divisive issue being debated in today’s bankruptcy circles. The problem surrounds homeowners with upside-down mortgages (i.e. those whose homes are worth less than they are mortgaged). The current mortgage...
Big Changes Coming for the Credit Card Industry The credit card industry is beginning some major shifts in response to requirements put forth in the Credit Card Accountability, Responsibility and Disclosure (CARD) Act signed into law on May 22, 2009. The law was enacted to help American consumers who were battling years of unfair rate hikes...
[caption id="attachment_28" align="alignleft" width="413" caption="A growing number of foreclosure signs are appearing in neighborhoods across the country."][/caption] The real estate boom of the late 1990’s and early 2000’s caused a super inflated valuation of both property and the attached mortgages. Many individuals and families anxious to assume their place in the American Dream became homeowners...
The Mortgage Industry 'House of Cards'Yesterday morning's Good Morning America (7/23/09) ran a piece on mortgage modification companies such as the Nation's Housing Modification Center that are dangling rescue plans in front of desperate struggling homeowners. These disreputable firms send mail in official government-looking envelopes and their letters promise homeowners that they can streamline the...
[caption id="attachment_10" align="alignleft" width="300" caption="The Credit Crunch Hits Home"][/caption] Like many Americans, nearly one in four today, you may be out of work and having difficulty paying your bills on time. The phone rings non-stop at home, the warning letters arrive daily, and you wonder if you will ever have another moment’s peace again. Consumers...