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FTC Hopes to Eradicate Broken Debt Collection Litigation and Arbitration

A report released by the Federal Trade Commission Monday featured the FTC’s complaints about debt collection in our country today. The report featured the conclusion that “consumers are not adequately protected in either debt collection litigation or arbitration.” The FTC put forth recommendations to both the federal and state governments on how to make the debt collecting system “both efficient ... Read More »

The Inside Scoop on the Free Home Telephone Service That’s Not

Last night I saw the commercial below offering free telephone service, or so it appears. [flashvideo file=/wp-content/uploads/IMG_0023.flv /] While the commercial says “the government will pay for you to have free home phone service”, it’s not the whole story. The government program behind this is the Federal Communications Commission (FCC) Lifeline and Link-Up Affordable Telephone Service for Income-Eligible Consumers. To ... Read More »

Government Handing Out Secret Bailout Money to Pay Off Credit Card Debts

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This information is for all the people who keep emailing me about the “secret Obama backed bailout plan for free government money to pay off credit card debts.” You win and I’ll tell all. I’m not sure who let this rumor out of the bag but if I find them I’d have a very stern talk with them. Maybe the ... Read More »

Government Help With Credit Card Debt

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A question I am getting asked more and more is about what programs the government offers to help you get out of debt or to eliminate credit card debt. These questions usually involve inquiries about government grants and loans that people hear whispers about that they believe will dispose of problem debt as well. Up until this point there has ... Read More »

Government Kills Debt Write Off And 40% Debt Elimination Plan

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All I’ve got to say is, Good! The plan would have done more damage than good and while some people might have hoped that the government would accept the creditor based plan, it was shallow and not enough to make a real difference to help people avoid bankruptcy and get out of debt. Recently I wrote an article, New Concerns ... Read More »

Bush Administration Rolls Out Wimpy Mortgage Assistance Plan

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The Bush administration today rolled out a plan to help homeowners in trouble with their mortgages. While proclaiming big help the plan does not go anywhere near far enough to help those in the most trouble. Homeowners 90 or more days late in their mortgage payments, owe at least 90% of their home’s current value, live in the home on ... Read More »

Good News – Post Office to Layoff Only 40,000 Workers. Bad Time to Be In Delivery Business.

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A friend called to tell me about the latest buzz of the postal service laying off 40,000 workers. I can’t confirm if it is true yet since the numbers estimated range from 16,000 to 40,000. But in doing my research for this news I came across a shocking this little tidbit: Vienna – The majority-state-owned Austria Post mail service is ... Read More »

New Concerns About 40% Credit Card Debt Reduction Proposal

Last week I wrote an article Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out but more information has come to light since then. While consumer advocates are happy about the possibility of getting banks to write off as much as 40% of the debt in order to help consumers avoid bankruptcy, this ... Read More »

Next big worry: Credit cards

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Next big worry: Credit cards The News Journal, DE - 1 hour ago In past years, consumers looking to get out from under credit card debt tapped into home equity, refinancing mortgages to get their hands on cash to pay off ... Read More »

Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out.

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Credit card lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings have finally come together with the help of the National Foundation for Credit Counseling, Consumer Federation of America and the Financial Service Roundtable to start the process of creating a debt solution, ... Read More »

Groups seek credit card debt forgiveness

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Groups seek credit card debt forgiveness BusinessWeek - 34 minutes ago issue around 80 percent of all US credit cards. Americans now are weighed down by around $900 billion in credit card debt , according to Federal Reserve figures. Read More »

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