Category Archives: Credit Repair
Credit Cards Get Makeover to Entice Consumer Use
Life just got a little harder for people struggling to repair their credit score. The credit card industry is about to increase the temptation to rack up more credit card debt. Next month, the much-maligned credit card industry will begin field testing a new gimmick designed to entice consumers into renewing their old spend-thrift ways. [...]
Feds Put Debt-Settlement Firms on Tight Leash
Desperate people resort to desperate measures. Unfortunately, there is always someone out there ready to take advantage of another person’s tragedy to make a quick buck. As the economy struggles toward recovery, high unemployment, new layoffs, diminished wages and benefits, tight credit and aggressive foreclosure actions have continued to take a financial toll on American [...]
CARD Act Doesn’t Cover ‘Professional’ Credit Cards
In an attempt to work around the restrictions imposed by the new Credit CARD Act, some credit card issuers have started offering small-business credit cards. Called “professional” credit cards, these credit offers are going out not only to small business owners and entrepreneurs but to unsuspecting consumers. Credit repair professionals are warning business owners and [...]
Charge-offs Are Creating New Financial Nightmare for Consumers
Writing off bad debt is not a new practice in the credit card industry. Called a “charge-off,” the practice is commonly used to clear a credit card issuer’s books of uncollectable debt before the end of the fiscal year. Before the recession, charge-offs were seldom necessary and their use infrequent. However, the litany of financial [...]
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