Late Credit Card Payments Drop to Pre-Recession Levels

Credit Cards

Late Credit Card Payments Drop to Pre-Recession Levels

Late Credit Card Payments Drop to Pre-Recession Levels

Credit card delinquencies for the nation’s top six lenders fell to their lowest rates since the recent credit crunch hit, according to a report from The Associated Press. This was particularly the case for American Express, typically the card issuer with the best delinquency rate, which saw late payments fall to just 1.6 percent. JPMorgan… Read More

Citibank: Hack Attack Twice as Big as We Thought

Identity Theft

Citibank: Hack Attack Twice as Big as We Thought

Citibank: Hack Attack Twice as Big as We Thought

More than 360,000 Citibank customers had their private information hacked last month, nearly double the company’s original estimate, according to a press release issued by the bank on Wednesday. The hackers accessed customers’ names, account numbers and email addresses. They did not get to see other information especially useful for committing fraud, including Social Security… Read More

Small Business? Big Dreams? No Loans.

Personal Loans

Small Business? Big Dreams? No Loans.

Small Business? Big Dreams? No Loans.

Most small business owners are excited about the near future, but can’t get the loans they need to grow, according to a new report published by Dr. Jon Paglia, finance professor at Pepperdine University. Half of the 1,221 business owners surveyed tried to find a loan to help their companies grow in the last six… Read More

In Defense of Consumer Protection

Personal Finance

In Defense of Consumer Protection

In Defense of Consumer Protection

The Minority Leader of the U.S. Senate, Mitch McConnell (R-KY) wants to prevent President Obama from appointing Elizabeth Warren, Raj Date (or frankly anyone other than the ghost of Adam Smith or Old Man Potter from “It’s a Wonderful Life”) to be the Director of the newly created Consumer Financial Protection Bureau unless and until… Read More

Hidden College Costs: The Transfer Tax

Students

Hidden College Costs: The Transfer Tax

Hidden College Costs: The Transfer Tax

Home buyers are known to spend months, maybe an entire year, searching for the perfect home.  They’ll compare costs, neighborhoods, taxes, schools, etc. After all, it’s likely going to be their biggest purchase ever. Buyer’s remorse is not something many can afford in this case. A college education should require a similar approach. While not… Read More

Fannie Mae Introduces Incentives for Foreclosure Purchases

Mortgages

Fannie Mae Introduces Incentives for Foreclosure Purchases

Fannie Mae Introduces Incentives for Foreclosure Purchases

Consumers who are attempting to buy a home will now have more incentive to purchase a property that has slipped into foreclosure thanks to one of the nation’s two mortgage giants. Fannie Mae recently announced that it would grant consumers incentives to purchase a home listed on a lender’s foreclosure list between now and October… Read More

Scratching Medical Debt from Credit Reports: The Cons

Managing Debt

Scratching Medical Debt from Credit Reports: The Cons

Scratching Medical Debt from Credit Reports: The Cons

Earlier this month the Medical Debt Responsibility Act of 2011 was introduced by U. S. Representative Heath Shuler.  In summary, the bill would require credit reporting agencies (Equifax, Experian, TransUnion, etc.) to remove paid or settled medical collection items up to $2,500 per collection from credit reports. [Related Article: Scratching Medical Debt from Credit Reports-The… Read More

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