When creditors last fall asked the U.S. Government to expand the time limits for the repayment of debt through their partial debt forgiveness plans, as well as extend the time for writing off debt forgiven through the plan, I wondered if the federal government would opt to clarify the options for debtors unable to pay [...]

A reader of Credit Card Debt Law was recently wondering what would happen to their credit card debt if the bank that issued their credit card (and to whom they owed the debt) failed.  This topic has also come to my attention because many are wondering what will happen to the money that they owe [...]

When I was taking a political science class in college, we learned about the problem of “fighting the last war.”  If you’re successful in fighting the last war, you will continue to prepare as you always have and may ignore important changes to the battlefield that change your prospects for winning the next war.  It’s [...]

The New York Times has a great article today about the effect of the current economic climate on the ability of credit card companies to collect on debts and their willingness to decrease interest rates, waive payments, and participate in partial debt forgiveness.
I think that the article is worth reading in full (click here), but [...]

As we move into 2009, I’ve been trying to set my new year’s resolutions for 2009 regarding my credit card debt and finances in general.  Here’s my first draft - any thoughts would be welcome!
1. Save 10 percent of my income each month. It’s somewhat counterintuitive to be saving money if you are carrying credit [...]