Some consumers may think they have a way to help them get out from under their credit card debt, but not every strategy is guaranteed to work, and in some cases, these moves can have an effect on their credit report. Some consumers, for example, might think it’s a good idea to call their lender […]
Retailers across the country are feeling a bit of a pinch as national consumer spending and credit conditions remain tight. Despite the slowly-improving economic climate, consumers remain cautious with their money and that’s having a negative impact on retailers nationwide, Matthew Shay, president and CEO of the National Retail Federation, told CNBC. "I think what […]
Those that were a bit wary of credit counseling can now enter into the process with greater confidence. A new report – jointly published by the Federal Reserve Bank of Chicago, the Ohio State University and the office of the Indiana Comptroller of the Currency – found a direct correlation between credit counseling and a […]
There may be some consumers that have outstanding debts of small amounts that are in collection, and some of them could be from several years ago. But just because these debts are small and old doesn’t mean they’re not doing damage to a consumer’s credit score. The question some consumers may have is whether paying […]
Some homeowners who have fallen on hard times may have considered defaulting on their mortgages on purpose, but many companies have vowed to prevent borrowers that do so from getting a new home loan. Fannie Mae recently announced that it will do the same, locking out borrowers from gettinga home loan for seven years after […]
When many consumers file for bankruptcy, one of their primary concerns is whether or not they will be able to keep their car. The answer is a bit complicated, but one way for consumers who have filed for Chapter 7 bankruptcy to ensure that they get to keep their vehicle is to sign an agreement […]
Because bad consumer loans in sectors such as mortgages and credit cards are what got the country into its current tenuous financial state, government officials have spent months trying to correct these mistakes. Many consumers may have questions about what mechanisms have been introduced and how they provide more protection against troublesome practices from lenders. […]
Many consumers are quickly learning that the old method of getting a lower interest rate – calling the lender and asking – no longer works. That is because the new Credit Card Accountability, Responsibility and Disclosure Act has clamped down on a number of other practices that have cut into the lenders’ bottom lines, says […]
Many consumers across the country may have noticed that their credit card statements have changed recently. Thanks to a provision of the Credit Card Accountability, Responsibility and Disclosure Act, credit card companies are now legally required to make their statements more clear so thatconsumers can better understand what they’re being billed for, and how much […]
Despite a great deal of resistance, Representative Barney Frank says he will continue to fight to keep caps on so-called debit card "swipe fees." The rule, proposed by Illinois Senator Dick Durbin, would keep banks from overcharging businesses for debit card transactions and then passing those charges on to the consumer, but the House wants […]