Credit Card Reform Act

Ever since the Credit Card Reform Act went into effect in February of 2010, studies are now showing that approximately 17% of consumers ages 18 to 29 did not any credit card debt by the end of 2012.  That is according to FICO, the popular credit card score provider for most consumers. Suffice it to […]

The Fair Debt Collection Practices Act

In 1978, the federal government passed a law for consumers known as the Fair Debt Collection Practices Act (FDCPA) in 1978.  The purpose of this law was to protect consumers from abusive debt collection practices. The FDCPA provides consumers with several protections such as the ability to sue a debt collector who violates the FDCPA in […]

Alarming news on the three credit bureaus!

Yesterday, Monday February 11, 2013, when we reported to work, we were all called into an emergency meeting by our top executives. Our President had been watching the famous 60 minutes news program the night before, and was absolutely shocked to see the below report. We in turn were asked to watch it as well. […]

Understanding Your Credit Report

Do you understand what is on your credit report? If your answer is “No,” do not worry. You are definitely not alone! Most people cannot read a credit report, much less understand what they are trying to convey. Credit reports, very much like credit card statements are getting easier to read however Congress has passed […]

Consumer Credit Counseling Companies

One of the most important things you must understand when you find yourself in the “debt trap.”  That is, what type of company are you dealing with?  There are two major types of companies in our industry.  One is called Debt Consolidation and the other is called Debt Reduction.  One works for you and one […]

Credit Card Myths

This week I am going to try and write to you about some of the myths that surround credit card debt in general and debt settlement companies as a whole. Since my last post last week where I brought your attention to the United States Debt Clock http://www.usdebtclock.org/, I would like to answer some of […]

Digging Out From Under the Debt Trap

Often times during our weekly staff meetings someone will inevitably bring up something they heard from one of our competitors over the radio or television advertisements that says something like this; “We will teach you the secrets the credit card companies do not want you to know about.” Really? After 12 years of helping families […]

Credit Cards and Balance Transfers

Almost all Americans over the age of 18, have at one time or another been solicited by the credit card industry offering either a low introductory interest rate or the opportunity to perform a balance transfer from their exiting credit cards as a sales pitch to win over new customers. Is a balance transfer a […]