Well, it looks like today is the day that a few senators have finally said that bailout nation has gone too far with its proposal to bailout the United States automakers.  In my opinion, it’s unfortunate that the government was negotiating among themselves how quickly they could lower the salary of well paid American workers.  [...]

The USA Today has an article about the dangers of paying for debt counseling through unreputable agencies that have, apparently, proliferated on the internet.
American culture has grown up with Get Rich Quick! schemes, and now that society is facing a severe debt problem, some believe that the solution is the Get Out of Debt Free! [...]

A recent research report by Innovest predicts that charge-offs on the bad credit card debt of consumers by financial institutions will be around $100 billion in 2009, up from an expected $40 billion in credit card debt charged off by financial institutions in 2008.  The report places the blame for the increase in bad debt [...]

The statute of limitations (frequently abbreviated SOL) is a defense available to debtors that, when successful, defeats debt collection attempts by creditors.  The purpose of the statute of limitations, which is set out in various state and federal statutes and applies to many different types of civil and criminal litigation in addition to lawsuits over [...]

Recently released data from the U.S. Bankruptcy Court system showed that personal bankruptcy filings in the United States for the 12 month period ending June 30, 2008, were up 28 percent to 934,009. Tennessee had the highest bankruptcy filing rate per capita, Michigan had the highest per capita rate of Chapter 7 filings (that’s the [...]

Forbes declared Pine Bluff, Arkansas, the city in the United States with the most delinquent credit cards in its recent article, The Debt Capitals of America.  The delinquency rate of 2.28 percent in Pine Bluff is nearly double the national average of credit card delinquencies of 1.19 percent.
One of the sad parts of Forbes’ list [...]

I wrote a brief post a couple weeks back about how banks and credit card companies might begin declaring and exercising a right of offset, particularly on its business customers.  If you don’t remember the post, it discusses how banks are increasingly seizing funds in the bank account of debtors who have business credit cards.  [...]

Fair Isaac, the developer of the proprietary model used for the widely accepted FICO credit score, has announced that it has reversed its 2007 FICO 08 decision to remove the effect of an authorized user on a credit card account on the credit score of the authorized user. Its press release explains that it [...]

Connecticut is suing three credit rating agencies alleging that the rating agencies gave artificially low rates to municipalities, causing them to pay higher interest rates on bonds.  Read more about it here.
I wonder if consumers who believe that they have been unfairly denied access to lower interest rate credit cards and debt could sue under [...]

In these days of increasingly tight credit, credit card companies are still targeting college students and potential first time cardholders for credit card offers. One study found that 33% of 2007 college graduates had credit card debt from college exceeding $5000. It’s gotten so bad that even a 4 year old girl was [...]