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

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 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.   …

New debt solutions coming from credit card companies

The New York Times reports that with credit card delinquencies approaching record numbers, the credit card companies have come up with a new debt solution:  Make a deal on the principle.

Up until recently, credit card …

Debt help getting better from Obama administration

The Obama administration has promised debt help for consumers in at least two important areas.  One is mortgage debt and the other is credit card debt.    They have moved forward in both areas in the …

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 …

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 …

Tax Debt Relief - avoiding scams

We’ve all seen the ads on TV. “Got trouble with the IRS? Our professional counselors — many of them former IRS agents — can fix it for you. Call now.” Turns out that it’s not …

Credit Card payment terms are getting worse.

One of the most important payment terms on your credit card is the deadline for payment. Even if you are a person who pays the whole balance every month - depending on your balance …

Credit card debt, college debts, sinking average families?

The New York Times has started a series on debt, and the first issue contains some discouraging stats. The liberalization of lending rules has, over the years, created a nation of serious debtors. …

For some people, self-help groups focusing on debt may be good way to get it under control.

A recent Wall Street Journal article interviewed people who had used self-help groups to help them get their debt under control. As one person (who recovered from $25,000 in credit card debt and arrears …

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