Debt Management, mortgage and credit news - a blog for the average consumer.

Auto “Title” loans can cost you your car

Like “payday” loans, in which you borrow against your next paycheck, car “title” loans, in which you borrow money against you car’s title, can get you into …

Debt Settlement companies are scamming you

An ABC news investigative report exposes how debt management companies are taking advantage of consumers trying to deal with their debt: Click Here to Report on Misleading Debt Settlement Companies.

These debt settlement firms …

Overdraft Protection is a scam you should avoid

If you have a debit card you may get a letter in the mail telling you that you are no longer protected from overdrafts unless you tell the bank that you want to sign up …

Debt and credit related complaints dominate FTC’s top ten

In 2009, “Identity Theft” accounted for 21% of all complaints filed with the Federal Trade Commission.  Number two was “Third Party and Creditor Debt Collection” which totaled 9% of all complaints (119,549).  “Credit card” complaints …

New credit card rules offer good news and bad news.

Rules take effect on Feb 22nd, 2010.  Read your mail!

The single biggest benefit of the much-touted new rules for credit cards — prohibiting credit card companies from raising interest rates on existing balances — has …

Avoid foreclosure prevention scams

The Better Business Bureau reports that foreclosure prevention is another of the top ten scams of 2009

There are many companies making many claims about helping you prevent foreclosure on your home. No matter how good …

Phony Debt Assistance one of top ten scams in 2009

The Better Business Bureau makes this case and reports on the scams.

The scammers are especially clever at preying on people in trouble and they have come up with many ways to convince you they can …

Credit card regulation only partially effective thanks to loopholes and lag time

Congress recently passed what one expert called a “Set of discrete new laws” to regulate the credit card industry (see our blog entry on Credit Card Rates Going Up for details, but as the …

Free Credit Report: Don’t pay for it!

The government has required the three major credit reporting agencies to give you a free copy of your credit report once a year, and you can sign up to get them at …

Foreclosure prevention help site. Be careful.

Foreclosure prevention help site.  Be careful.

I read in Wall Street Journal about a single form that one could use to apply for foreclosure prevention that was supposed to be available at a government site called …

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