The so called ‘greatest generation’, people now in their senior years, are racking up huge amounts of credit card debt. According to surveys, nearly 40% of seniors have said they’ve accumulated credit card debt in their retirement years. Many have no intention of even paying it off. From vacations, to medical bills to just plain old [...]
Black Friday deals, sleeping in tents outside big box retailers, stampeding department stores. It’s all part of the holiday rush to find a deal. There are some deals however that should definitely be avoided. This year, bargain hunters are faced with a very tempting offer. Credit card companies are offering rewards to cardholders that use credit [...]
Remember our very recent post regarding Facebook and credit card debt collectors? Well, to refresh your memory, debt collectors are now using social media such as Facebook, Myspace and LinkedIn to track you down. It happened to one woman in Florida. In fact, it’s being called a ‘first of its kind’ case amongst legal professionals. The [...]
It seems debt collectors and debt collection agencies are getting more tech savvy these days. In the past, collectors would use things like ’skip-tracing’, personal investigations, phone records, and utility bills to find you. Their job seems to be getting easier now with the advent of social media. Facebook, My Space, Linked In and Twitter are [...]
Credit card companies are losing billions due to the newly enacted Credit Card Accountability Responsibility and Disclosure Act. In an effort to recoup some of these losses, companies are offering ‘business’ credit cards to individual consumers. Why? Because the new laws do not affect business credit cards. Credit card companies are ’skirting’ around the new [...]
We’ve talked before about the threatening and abusive practices that some credit card debt collection agencies use. This story made abc headlines recently. If you have the stomach for it, the entire video and transcript can be viewed HERE. This time, it was a major creditor who hired this particular debt collection agency. [...]
The latest reports are in. Graduating students owe approximately $23,000 in student loan debt on average. This translates into over $830 billion dollars in student loan debt nationally. Compare that to the just over $825 billion in credit card debt and we have a winner! Not really. You see, any federally funded student loan debt cannot [...]
Last week was a bad week for the credit card giant Chase. Plagued with online services problems, their internet commerce site went down on Monday night September 13, 2010 and was out all day Tuesday the following day. Chase reported that their site was available again on Wednesday for customer access but online users were greeted [...]
Having large amounts of debt can cause many problems we all know. We blog about it here all the time. Debt affects credit score, your ability to get new loans, and even a new job. What we haven’t talked about yet is the strain it puts on your personal relationships. Sometimes the hidden debt isn’t even [...]
Ok, so how are we all doing just a week after the new credit card laws went into effect? Has anyone managed to get out of debt? We didn’t think so either. It’s a long climb to get out of debt. Certainly just a week after new regulations went into effect is not enough time. [...]
