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It’s about time. In new legislation geared towards protection for people with credit card debt, the Federal Trade Commission (FTC) also added some protections for people from debt consolidation agencies. The most sweeping part of the legislation is that debt consolidation companies can no longer collect money up front before they start helping you. Here’s [...]
This is a guest post by Raine Parker We’ve all been there. Credit card companies or banks make an enticing offer with a low introductory interest rate and a credit limit that’s half your annual income. Before you know it, you’re in debt for thousands of dollars with no idea how to get out of [...]
Once again, no one can be surprised by this move, after so much bad financial news and negative press. Citigroup and Bank of America got more bad news last week when their bond rating was downgraded from “stable” to “negative” by Standard & Poor. The initial outlook on both banks is that they’re still shaky, [...]
An article on the Wall Street Journal website titled Debt-Cutting Will Slow Global Growth prophesized that debt cutting efforts by the United States and other countries, and by all the consumers, will slow economic growth for many years, which wouldn’t be a good thing for most economies. It’s an interesting premise, and it makes a [...]
Last week, it was announced that there was a potential debt default risk by Dubai World to the tune of $60 billion. It sent stock markets around the world into a frenzy as worries about their request to restructure their debt in the face of the current economy meant they were in a little bit [...]
After reading a lot of bad news about credit cards lately, there’s finally a little bit of good news. In a story that comes from the Washington Post (which I can’t link to because you have to be a subscriber to read it, which I am), it stated that more and more banks are reaching [...]
