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Target Sells RedCard Credit Card Biz to TD Bank But Will Keep Servicing

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You know that Target card you have in your wallet. Not the debit card, but the credit card. Well Target has sold their book of customers and accounts to Toronto Dominion Bank (TD Bank) for a reported $6 billon. The price tag is equal to the entire amount of the amount due on the cards. The agreement does not have ... Read More »

Medicredit Debt Collector Allegedly Threatens Mother and Uses Social Media as Weapon

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Update 11-5-2012 We received the following correspondence from Michael A. DiMarco from MediCredit. In your October 23, 2012 blog entitled “Medicredit Debt Collector Allegedly Threatens Mother and Uses Social Media as Weapon,” you acknowledge that there might be some confusion in the identification of the exact underlying companies in the lawsuit filed. The facts are: 1. The complaint should have ... Read More »

Hey China, Whose Laughing Now That You’re Our Credit Card Bitch

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We hear so much in the press about how the U.S. is so indebted to China. But the U.S. is a world leader in the creation of one economic tool, debt. Typically what seems to happen is credit card marketing and products are created first in the U.S. and spread all around. From what I see, the UK was a ... Read More »

American’s Freaking Out About Having Enough Money to Retire

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A Pew Research study just out paints a disturbing picture of what lies ahead for many in retirement. Let me summarize the results of the report for you, half of people better start enjoying dog food. According to the survey results, about four-in-ten (38%) adults says they not confident they will have enough income in retirement. That’s up from 25% ... Read More »

Go Ahead, Take a Guess Which Countries Have the Most Credit Card Fraud

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Now here is a study that will probably surprise some people. A recent survey by the Aite Group and ACI Worldwide of consumers who experience credit card fraud found some countries are much more at risk of consumers having their credit cards used fraudulently. As someone who has lived and travelled to many countries outside of the United States, a ... Read More »

Florida Legal Advocates Sends Deceptive Fax Offering Debt Relief

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February 18, 2013 – We received a statement from a Heidy Barrios who states their company, Florida Legal Advocates, LLC is NOT the company that sent the fax. A great reader sent in a copy of a fax that was received from Florida Legal Advocates which claims to be located in Florida at a Jacksonville office. The offer appears to ... Read More »

MBNA UK Offers 20 Month 0% Credit Card. U.S. Consumers – NOPE

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Bank of America’s UK subsidiary MBNA has announced a new low-fee MBNA Platinum Credit Card is available for UK consumers exclusively on MBNAs UK website. New customers will receive 20 months at zero per cent interest on balance transfers with the new card, as long as they are made within the first 60 days of opening an account. – Source ... Read More »

Irish Mortgage Holders Organisation Hopes to Mirror U.S. Credit Counseling?

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A recent article in in the Irish publication Kiklenny People talked about a new Republic of Ireland charity, Irish Mortgage Holders Organisation. The group, founded by David Hall, a man with a long line of charitable endeavors, including an ambulance service and Make-A-Wish group, aims to provide better assistance for Irish consumers facing mortgage problems. The landscape in the ROI ... Read More »

Jnana Jyothi Financial Literacy and Credit Counselling Trust Announces Financial Literacy Scheme

Jnana Jyothi Financial Literacy and Credit Counselling Trust jointly sponsored by Syndicate Bank and Vijaya Bank, and created in concordance with the model system of Reserve Bank of India on October 20, 2010 has completed two years of service. The Trust so far has opened 32 centers in 25 districts in India, of which 14 centers are in Karnataka, five ... Read More »

UK Doorstep Debt Collector Dragged to Car and Robbed at Knife Point

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Last week a UK door-to-door debt collector was targeted and robbed with a knife held to her side. The Manchester Evening News is reporting the woman had just left a house and was on the way back to her car in Duchess Street in Shaw at about 8pm on Friday October 12 when she was confronted by a man who ... Read More »

South Africans Finding it Tough to Save Money

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People in South Africa are finding it tough to save money as many people are around the world. The latest saving rate published by the South African Reserve Bank found the national rate of savings as a percentage of GDP has declined. It appears that while households hold on to the 1.7 percent savings rate, household debt increased as more ... Read More »

People Finding Success in Fighting Back Against Credit Card Lawsuits

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“All debt collection is under the microscope,” said Chris DeRitis, Ph.D., a consumer credit expert at Moody’s Analytics, a West Chester economic research and consulting firm. “A lot of this debt gets traded three, four or five times. It’s a messy business.” The issue has similarities to abuses in the foreclosure process that led to the 2010 “robo-signing” scandal, in ... Read More »

Bankruptcy Filers Eligible for New Mortgages in as Little as One Year

For those who have declared bankruptcy, it may feel as though you’re on financial probation for up to 10 years, since that’s how long a bankruptcy can stay on your credit report. However, mortgage borrowers could be eligible to apply for a home loan in as little as one year following a bankruptcy. “If you filed Chapter 7 bankruptcy, which ... Read More »

Rich Dad, Poor Dad, Robert Kiyosaki Company Files Chapter 7 Bankruptcy

In this age of people still claiming bankruptcy has some sort of stigma, you’ve got to winder why it’s a smart move for companies but a perceived bad move for consumers. Recently, Robert Kiyoskai, the author of the Rich Dad, Poor Dad series found that for one of his companies, bankruptcy made sense. According to reports, Kiyosaki’s company, Rich Global, ... Read More »

Load Me Up on Payday Loans Say Some UK Residents

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Consumer Credit Counselling Service of the UK is reporting they are seeing more people with multiple payday loans who are contacting them for help. So far in 2012 they say about 2,000 clients have contacted them with five or more payday loans. The numbers got higher, 173 had ten or more as compared to 42 in 2009. With purse strings ... Read More »

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