Financial News Roundup: Credit Card Debt Rises, Title Loan Rates Skyrocket

Personal Finance

Financial News Roundup: Credit Card Debt Rises, Title Loan Rates Skyrocket

Financial News Roundup: Credit Card Debt Rises, Title Loan Rates Skyrocket

Today’s top news headlines feature the latest consumer credit card debt figures and explains why unsuccessful mortgage modifications are hindering economic growth. Plus, find out how title loan interest rates are impacting consumers. Shrinking Mortgage Modifications Hinder Economic Growth The Huffington Post Fewer Americans are being approved for mortgage modifications, a trend that is forcing… Read More

How the Feds Got the Guy They Already Had

Identity Theft

How the Feds Got the Guy They Already Had

How the Feds Got the Guy They Already Had

You have to appreciate genius. You also have to scratch your head and ask whether the inmates (literally) are running the asylum. On January 20, 2011, the United States Attorney for the Northern District of Ohio announced that Dimorio McDowell, the leader of an identity theft ring that ran up $250,000 of fraudulent charges, was… Read More

How To Request Your Free Medical Report Disclosures

Credit Score

How To Request Your Free Medical Report Disclosures

How To Request Your Free Medical Report Disclosures

Specialty Consumer Reporting Agencies: Medical Reports This is the fifth installment in my series about how to request your free consumer reports from specialty agencies. You can read the series starting here. There are several nationwide companies that collect and report medical-related information about consumers. Given how important your medical information is, it’s pretty astonishing… Read More

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Mortgages

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Fannie, Freddie Won’t Be Eliminated by Lawmakers

Currently, Fannie and Freddie back more than half of all mortgages nationwide, with loans valued at more than $5.3 trillion, according to a report from the Washington Times. Consequently, the fact that the two home loan giants have lost about $150 billion since being taken over by the federal government – a figure that could… Read More

New Consumer Bureau Wants To Be Your Friend

Personal Finance

New Consumer Bureau Wants To Be Your Friend

New Consumer Bureau Wants To Be Your Friend

The Consumer Financial Protection Bureau launched its website last week, and already it has 1,288 Facebook friends. There are videos of bureau employees responding to comments posted by consumers on Twitter, Facebook and Youtube. In short, this is not your grandfather’s federal agency. “For the first time in many years we have the opportunity to… Read More

Credit Card Q&A: Can I Change the Due Date on My Credit Card Statement?

Credit 101

Credit Card Q&A: Can I Change the Due Date on My Credit Card Statement?

Credit Card Q&A: Can I Change the Due Date on My Credit Card Statement?

Credit Question: Can I change the due date on my credit card statement? Answer: I hear this question a lot. And I love hearing it because it shows that consumers are thinking about what actions they can take to make their credit lives better. While there isn’t a hard-and-fast rule about this among credit card issuers,… Read More

Fed: Credit Card Debt Rises for 1st Time Since 2008

Credit Cards

Fed: Credit Card Debt Rises for 1st Time Since 2008

Fed: Credit Card Debt Rises for 1st Time Since 2008

After two and a half years of charging less, Americans’ credit card debt rose in December for the first time since 2008, according to new data released Monday by the Federal Reserve. Revolving debt, which mostly means credit card charges, rose by $2.3 billion in December to $800.5 billion, a 3.5% increase from the previous… Read More

Financial News Roundup: Taxes Fall To Record Lows, Mortgage Shopping Made Easier

Personal Finance

Financial News Roundup: Taxes Fall To Record Lows, Mortgage Shopping Made Easier

Financial News Roundup: Taxes Fall To Record Lows, Mortgage Shopping Made Easier

Today’s top news headlines feature the reasons businesses are not hiring more employees, despite improvements in their profitability. Plus, read one woman’s story who was assigned a 79.9 percent annual percentage rate. Mortgage Comparison Websites Become Popular The New York Times More mortgage websites are updating their web pages to make it easier for consumers… Read More

Consumer Debt Up 20% – But Are the Numbers On the Up and Up?

Managing Debt

Consumer Debt Up 20% – But Are the Numbers On the Up and Up?

Consumer Debt Up 20% – But Are the Numbers On the Up and Up?

A large US credit counseling firm says, “pay no attention” to news that American consumers are shoring up their debt burdens. On the contrary, personal debt is growing higher. What’s the real story? The debt counseling firm is American Consumer Credit Counseling (ACCC). The group’s chief operating officer, Steven Trumble, told The Boston Herald on… Read More

Hollywood Video Collectors Violate Law Over Movie Late Fees

Managing Debt

Hollywood Video Collectors Violate Law Over Movie Late Fees

Hollywood Video Collectors Violate Law Over Movie Late Fees

by Adam Levin and Gerri Detweiler If You’re Late Paying for the Picture, No Home Movie for You In 1957 legendary film producer Robert Evans was picked to play the part of the matador Pedro Romero in “The Sun Also Rises.” Over the vigorous objections of superstars Ava Gardner, Ernest Hemingway and Errol Flynn, iconic… Read More

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