Defense Of Credit Card Lawsuits
by Stefano Grossi
Whether or not you are believe the news media about a declining US economy, one thing is for sure, debt collectors are actively filing suits to collect debts. One large collection firm based out of Atlanta has indicated that they file an average of 279 collection lawsuits per day. A lawsuit is often the final effort in the creditor's attempt to collect a debt. If the harassing and often illegal collection calls were not enough, once a person is sued the reality of the situation is realized. However, for the defendant, not all hope is lost.
Debt smart credit card rules adopted by federal regulators
by Scott Bilker
I can't believe it! It appears that we consumers have received a major holiday gift this season.Government regulators adopted sweeping new rules for the credit card industry. Finally, rules that protect consumers! This is certainly a time for celebration, because it's the first time in decades that consumers have received protection from some of the most terrible practices of these banks. I am excited, however, these rules don't go into effect until July 2010. My only fear is that the banks will figure out a way to get around these changes by that time.
Government launches crackdown on unfair credit cards
by Federal Reserve
The Federal Reserve Board proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances. The rules also would forbid banks from imposing interest charges using the two-cycle billing method, would require that consumers receive a reasonable amount of time to make their credit card payments, and would prohibit the use of payment allocation methods that unfairly maximize interest charges.
Protecting Your Credit--The FACT Act in Layman's Terms
by Amy L. Cooper-Arnold
Do you know all the implications of identity theft? Do you know that an imposter can open lines of credit, drain your bank account, file for bankruptcy, get an ID card, get a job, and even be arrested all in your name? All the missed payments an imposter doesn't make are reported in your credit file causing your credit score to suffer.
How to protect yourself from becoming a victim of credit fraud
by Rebecca Lindsey
The Federal Trade Commission released the results of a Consumer Fraud Survey. Astoundingly, it estimated that nearly 25 million Americans were victims of fraud. The study indicated individuals with high levels of debt are more likely to be victims of fraud. Three of the top categories of fraud reported to the FTC related to credit, including credit-repair scams aimed at those carrying high debt loads or having bad credit. The most frequently reported type of consumer fraud: advance-fee loan scams, in which consumers pay a fee for a "guaranteed" loan or credit card.
Credit Card Binding Arbitration: When Ignorance Isn't Bliss
by Rebecca Lindsey
Few people want to go to court, but there are times when it is necessary to preserve your rights and to fight unfair or illegal treatment. Watch out for mandatory arbitration clauses in your credit card agreements, which can prevent you from having your day in court.
Protecting Your Credit Following ID Theft: A Step-by-Step Plan of Action
by Pammila Phillis
Changes in the FCRA (Fair Credit Reporting Act) regarding identity theft are presented here. Further detailed information can be found at the Federal Trade Commission site, under Fair Credit Reporting Act. This is just a general step-by-step guide to start the process.
Your Consumer Rights
by Terry Rigg
If you have ever fallen behind on your debts you already know that dealing with your creditors can be a hassle. Sometimes it can be downright humiliating. It doesn't have to be that way.
Collection Company After a 23-Year Old Debt
by Scott Bilker
I received a letter telling me that I owed a debt of $535.73, but, "if I paid $214.00 immediately," they would cancel the debt. I cannot recall owing this debt. It was made, according to the company (I called this AM) in 1980, under my husband's name. I have checked through as many old papers as I have and can't find this debt. When I pay a card off, I always cut it up. I have no cards now, and pay everything by check. Can they collect on a debt this old?
Break Through the Mold and Protect Your Rights!
by Craig Kimmel
Dear Craig, Now that the winter is here and I've had to turn on my heater, I've been smelling a strange musty smell coming from my vents. Is this normal or is there cause for concern? My girlfriend thinks I should take it in for service but I don't think that it's serious. Your thoughts?