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REGULATING CREDIT CARDS

September 5, 2017

Lenders will not regulate themselves – but they clearly need rules. The government has imposed some rules on credit card issuers for instance requiring that they inform consumers how long it will take them to pay off their balances with minimum monthly payments.  That is of little comfort to elderly borrowers on fixed incomes with […]

THE PROBLEM WITH DEBT SETTLEMENTS

September 5, 2017

There are actually many problems with debt settlements but let’s discuss a few. The first problem is finding someone you can trust and count on to represent your best interests, not just their own.  Neither law firms nor collection agencies work for either free or cheap. O.K. so let’s say you found a reasonably priced […]

IT’S EVERYWHERE YOU WANT TO BE

September 5, 2017

Remember the slogans used by credit card companies “it’s everywhere you want to be” and “don’t leave home without it”? Yes, the convenience that was being sold is certainly “everywhere you want to be” but what about the debt?  Do you really-not want to “leave home without it”? Just imagine being in a place where […]

DEBT CONSULTANT SCHEME

September 5, 2017

Debt consulting proposal loans purportedly confer an “advantage” to the borrower but do they? Are such loans in some way fraudulent or are they just questionably ethical? The “advantage loan” scheme involves trustees who work with particular debt consultants.  It doesn’t matter who see the client first, the trustee or the debt consultant.  Either way […]

GETTING CREDIT AFTER BANKRUPTCY

September 5, 2017

Re-establishing credit after a bankruptcy is usually a lot easier than expected. Interestingly enough, one of the first questions that people ask after they have just filed for bankruptcy is “how long does it take to get my credit back?”  The question is not an easy one to answer since there are many factors that […]

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