CFPB Takes Action Against Company for Processing Upfront Debt Settlement Fees

Managing Debt

CFPB Takes Action Against Company for Processing Upfront Debt Settlement Fees

CFPB Takes Action Against Company for Processing Upfront Debt Settlement Fees

Debt settlement firms that require upfront payments continue to find themselves in the cross-hairs of the Consumer Financial Protection Bureau. On Thursday, the agency announced it filed a complaint against a Washington state payment processor, Meracord LLC, alleging it provides the financial structure that enables collection of illegal upfront fees from consumers drowning in debt.... Read More

This Week in Credit News: Government Shutdown Woes

Personal Finance

This Week in Credit News: Government Shutdown Woes

This Week in Credit News: Government Shutdown Woes

The biggest credit news this week is all about the government shutdown, as furloughed Americans may turn to credit to supplement lost income. Will the Government Shutdown Lead to a Spike in Payday Loans? The federal government shutdown on Tuesday means that hundreds of thousands of Americans have been furloughed. For those who have to... Read More

Study: Most Choose Pricier Health Plans Than Needed

Personal Finance

Study: Most Choose Pricier Health Plans Than Needed

Study: Most Choose Pricier Health Plans Than Needed

The Congressional Budget Office estimates that 20 million Americans will choose health coverage on the insurance exchanges created by the Affordable Care Act. Those marketplaces opened Oct. 1, and while technical difficulties have been an obstacle so far, there’s also concern about consumers’ ability to choose a cost-effective insurance plan. A study from Columbia Business... Read More

9 Signs You Are Talking to a Debt Collection Scammer

Managing Debt

9 Signs You Are Talking to a Debt Collection Scammer

9 Signs You Are Talking to a Debt Collection Scammer

Consumers are forking over hundreds, even thousands, of dollars to debt collection scammers. Our reader Ashley wrote: “They told me that my loan had gone into default and if I did not pay the $398 they would send a sheriff to my job or home to serve me with court papers and I would be... Read More

How to Create a 10-Year Plan for Your Credit

Credit Score

How to Create a 10-Year Plan for Your Credit

How to Create a 10-Year Plan for Your Credit

When we think of our credit, we often think of “right now” credit. That is, we’re thinking of what our current credit score is and whether it will allow us to open the credit account (i.e. mortgage, car loan, student loan, etc.) that we need… and we’re thinking about what immediate changes we can make... Read More

Why Are Utilities & Rent Payments Not Included in My Credit Report?

Credit Score

Why Are Utilities & Rent Payments Not Included in My Credit Report?

Why Are Utilities & Rent Payments Not Included in My Credit Report?

Frustrated after being denied for a credit card and later a personal loan, a reader recently wrote in to find out why his utilities and rental payments weren’t being reported in his credit reports or factored into his credit score. His question: “I just applied for a credit card and was turned down. My credit... Read More

Student Loan Default Rate Rises

Managing Debt

Student Loan Default Rate Rises

Student Loan Default Rate Rises

The national student loan default rate is on the rise, with students at for-profit colleges defaulting much more frequently than those at public or private schools, according to the Department of Education. Of borrowers who entered repayment in fiscal 2010, 14.7% defaulted within three years, up from 13.4% who entered repayment in fiscal 2009. This... Read More

The 5 Deadly Clicks: The Links You Should Never Touch

Identity Theft

The 5 Deadly Clicks: The Links You Should Never Touch

The 5 Deadly Clicks: The Links You Should Never Touch

Here’s a scary scenario. You’re innocently surfing the Web, maybe on an unfamiliar site, not paying close attention. Suddenly your computer screen fills with illegal pornographic images of minors. You try to navigate away, but a warning screen branded by the National Security Administration’s Internet Surveillance Program pops up with the message: “Your computer has... Read More

The Next Wave of Identity Theft?

Identity Theft

The Next Wave of Identity Theft?

The Next Wave of Identity Theft?

Consumers who have been lulled in to a false sense of security over credit card fraud could be in for a rude awaking. That was the message delivered at Visa’s Global Security Summit held in Washington, D.C., on Wednesday. Disclosure last week of a serious data theft involving some of the nation’s largest data brokers... Read More

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