Calling banks for my 82-year-old mother
by Scott Bilker
Scott, I help my 82-year-old mother pay many of her credit card bills. She's scared to call the credit card companies and I don't want to be added as an authorized user or they will show up on my credit report. Is there a service that she can give a power of attorney to that will call the credit card companies on her behalf? Currently, she is NOT past due on any credit cards--but that will change if we can't reduce these interest rates. Thanks! Brian
Good credit rating but too much debt for low rates
by Scott Bilker
Scott, I just found your website in a book I am reading from the Rich Dad Series. I am in business for myself for 8 years now. I have high CC debt all for the most part business debt. We always pay our bills on time. Recently though the CC companies started raising their interest rates on us and lowering our limits dramatically. Some to the tune of 35%! What can we do? Bob
Bankruptcy Law Passes House
by Scott Bilker
Bankruptcy change legislation passed Congress last week in a 302 to 126 vote and has been signed into law by President Bush. The changes introduced by this bill are tough on consumers and good for banks. Banks are having their cake and eating it too, as the hackneyed-cliché goes.
How Do You Get that Loan Formula?
by Scott Bilker
Scott, I read with interest your article, Amortized Loans. At the end of the article you indicate the explanation of how to derive the formulae as being covered in another article. Can you please tell me where I can find this? Thank you very much, Luke
They Raised My Rate
by Scott Bilker
Scott, I called the card issuer last week for some routine issues, and happened to ask what my rate was. It was raised to Prime + 4! The operator said they sent me a notification letter last year, but couldn't tell me why the rate had changed. Any suggestions?--Dean
Cash advance suicide
by Scott Bilker
Scott, I have three cards currently all intro 0% wondering if I made a cash advance of say $1,000.00 then immediately took advantage of 0% balance transfer would I still be liable for the 24.99% advance rate as well as the fee even though account was paid off the same day or at least within billing cycle? Matt
0% forever transfer deal--is it for real?
by Scott Bilker
Scott:I received an offer from Discover for a no fee, balance transfer with 0% APR for life of the unpaid balance, as long as I make a purchase each month after July 2005. Is there a catch here? Thanks for all your help. Sincerely, Mark
Beautiful offer made by CapitalOne to my wife
by Scott Bilker
Dear Mr. Biker, I would like your advice on this "fantastic" offered made to her by the CapitalOne mentioned above and make sure that they aren't trying to "cheat her out of our hard earned money. Please help me enlighten and educate my wife regarding credit cards. Regards, Oscar
How banks use low rate offers to lock in high rates
by Scott Bilker
Scott, I have used the lower interest rate checks from my credit card company to transfer debt. I noticed on my statement that the balances on the original rate and the new rate are not getting paid down proportionately. Can I get the company to apply my payment my way? Is the use of these checks a benefit or a curse? --Mary
Message from the publisher 1/12/05 (dial-up)
by Scott Bilker
Hi. First off, I want to wish you a Happy New Year! And I hope you enjoy this first 2005 issue of the DebtSmart Email Newsletter! In the "Letter from the publisher" section, I have, in the past, created a video message instead of a written letter. However, the majority of readers prefer the text as well so, I'm trying to combine the text and video to deliver as much information as possible in a manner that everyone likes.
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