A new court ruling may be giving more power to consumers trying to figure out if a debt collector’s phone call means they actually owe that debt. A July 16 ruling by the Sixth Circuit Court of Appeals elaborated on debt collectors’ obligation to respond to debt-verification requests, requiring collectors to provide details on the… Read More

Undergraduate borrowing hit a five-year low last year, with the typical family taking out $4,610 in combined parent and student education loans to finance the 2013-14 academic term, according to a new report from Sallie Mae. Student borrowing among low-income families dropped significantly, making up only 14% of their funding (as opposed to 22% the… Read More

The first step when it comes to identity theft is admitting you have a problem. Knowing your ID IQ is a good place to start. You’ve probably seen those red-and-white buttons that warble when swatted, “That was easy!” However, on the battlefield of identity theft awareness, nothing is easy. People know it’s a threat, but… Read More

CapitalOne customer service representatives took a different approach to dealing with someone who couldn’t pay a bill — it sent a gift. The customer had gone online to pay a credit card bill but hit a snag when entering the account number into the form. Due to “an orange juice incident,” the number 2 key… Read More

At the Identity Theft Resource Center, we’re seeing an increase in in both frequency and severity of the sweetheart scam. Such scams happen when a criminal poses as a suitor who is romantically interested in the victim. As the online relationship progresses, the swindler begins to financially exploit the victim. In the past, criminals used personal ads and,… Read More

Image: evgenyatamanenko

When people are struggling to rebuild their credit, a secured card can offer them the opportunity to qualify for a credit card and establish a positive credit history. Unfortunately, secured cards also have several drawbacks compared with standard credit cards. For example, secured cards always require a refundable deposit that is held by the card issuer,… Read More

The seesawing housing market continues to defy economists and expectations. Pending home sales dipped in June after a string of strong months, catching many by surprise. Mortgage rates are sinking back down near historic lows. Home prices are on the rise, but inventory is still tight in some communities. In short, it’s a tough time… Read More

In many states, once you miss a payment on an auto loan, your creditor can repossess the vehicle at any time. Your loan agreement will state what constitutes default, but in general, you are risking repossession once your payment is more than 30 days past due, which is a chance you don’t want to take,… Read More

Talk about Christmas in July. Carrie Rocha has already started her holiday shopping. “A few weeks back I picked up a $60 toy for $4, and, truth be told, I picked up a whole lot more than that,” she wrote in an email. “I spent about $80 total and got $350+ in toys.” If you… Read More