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

Mortgage payment reductions often not enough

The administration’s mortgage modification program is a little over one-year old.  It has helped roughly 228,000 people get five-year reductions in mortgage payments, and another 781,000 are in the trial period.  The …

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 arbitration soon to be history?

The shenanigans of one of the leading credit card arbitration companies have embarrassed the credit card issuers and looks as if it will cause most of them to cancel arbitration contracts.

Credit card issuers started setting …

Credit card problems not solved with arbitration

For a while now most credit card companies have inserted a mandatory arbitration clause into their contracts.  This is to force their customers to settle credit card problems with arbitration and prevent them from suing.   …

Foreclosure prevention: No need to pay anything for help

Cable TV has many ads for organizations that say they can help modify your mortgage and prevent foreclosure.  We went to one web site we saw advertised and found a deceptive pitch.

First they did not …

Debt solutions overflowing on TV. But there is no free lunch.

You can’t turn on cable TV for any length of time these days and not see commercials promising help with your debt.  The latest is a commercial for a consortium of credit card companies plugging …

Credit card issuers and illegal debt collection practices attacked by NBC Dateline

Relying on consumer expert Harvard Professor Elizabeth Warren, who says that credit card issuers have put the loan sharks out of business, NBC’s Dateline used hidden cameras to expose illegal and fraudulent practices of debt …

New foreclosure prevention program: How to get help

In other BLOG entries we are going to describe some of the details of the new programs (there is more than one) announced by the Treasury Department, but having reviewed the details, we think that …

Debt Help Firms More Scam than Help, with One Exception.

If you have read anything on this site about companies that tell you they can help you reduce your debts, help you get out of debt, or help you fix your credit, you know we …

Arbitration on credit card disputes called a “scam.”

Your credit card agreement probably contains an arbitration clause forcing you to take any disputes to arbitration before going to court. It sounds like a good idea, but as CNN reports consumers lose almost 100% …

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