| News about Credit Card Companies: |
“The Cement Life Raft” Two authors make the case against predatory lending practices of the mortgage and credit card industries. ~PBS
“Your credit card payment just doubled” Credit card companies are raising minimum payments. What can you do to cope? ~MSNBC
“Rate hike to pinch credit card holders” The cost of carrying credit-card debt will get more expensive as rates rise. ~MSNBC
“Hello Kitty brand woos youth market” Credit card allows kids to manage finances. ~Detroit News
“Credit card fees become cash cow” The credit card industry made $43 billion during 2003 just from fees they charged consumers. ~USA Today
”What paying with plastic really costs” The devil is in the details for interest rates, credit limits and fees. ~CNN Money
“More games the credit-card companies play” Interest rates are falling, which means lower credit-card rates, right? Wrong. Lenders are changing due dates, the cut-off times to credit your account and even billing addresses to trick you. ~MSN Money
| News about Credit Counseling Companies: |
“FTC Testifies about Credit Counseling Abuses” The Federal Trade Commission’s greatest concern about Credit Counseling Agencies is the deception about the nature and costs of their services. ~Federal Trade Commission
“FTC, IRS, and State Regulators urge care when seeking help from Credit Counseling Organizations” An increasing number of complaints to federal and state agencies indicates that some organizations are engaging in questionable activities. ~Federal Trade Commission
“CRCS report shows the NFCC is misleading the public about its nonprofit executive salaries” The findings of an 80-page report recently released by Consumers for Responsible Credit Solutions raises questions about the public claims of some of the nation’s most visible credit counseling agencies. ~Consumers for Responsible Credit Solutions
“A new report issued by Consumers for Responsible Credit Solutions carries strong warnings for consumers seeking credit counseling services” The national advocacy group released a report that claims consumers frequently receive bad advice when seeking out a credit counseling agency. ~Consumers for Responsible Credit Solutions
"Bush Signs Bankruptcy Changes Into Law" Under New Law, Federal Judges Will Decide Who Must Repay Debt
~Nedra Pickler, AP
“Ads Promising Debt Relief May be Offering Bankruptcy” The Federal Trade Commission (FTC) cautions consumers to read between the lines when faced with ads in newspapers, magazines or even telephone directories. While the ads pitch the promise of debt relief, they rarely say relief may be bankruptcy. ~Federal Trade Commission and American Financial Services Association
“Is filing for Bankruptcy a good cure for your debt?” When you are over your head in debt, bankruptcy may seem like the perfect cure-all. It promises to wipe the slate clean. More than 1 million people file for personal bankruptcy every year, seeking relief from debt collectors and the weight of their bills. ~iVillage
“Tougher personal bankruptcy law looms” Harried consumers forced into bankruptcy will face even more obstacles to recovery if a bill that died in the 2002 session of Congress is revived, consumer groups fear. ~Bankrate.com
“Explore feelings, heal money woes” Dee Dee Sung, the “Debt Free Diva”, advises a concerned reader on changing way of thinking to help conquer debt. ~Detroit News
“8 Things to Know When Dealing With Debt Collectors” More than 6,500 collection companies pursued $135 billion in debt. Make sure you know how federal law provides protection for consumers. ~Detroit News
“Money can be a loaded emotional gun” Dee Dee Sung, the “Debt Free Diva”, points out that money is only worth the value we put on it.
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