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Tag Archives: credit cards

Credit Card Horror Stories: Tales of Credit Limit Reductions and Account Closures

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Bankrate.com did a story on Friday (sorry for not getting to this earlier) highlighting some of the same stuff that I've been pointing out here for weeks. More and more customers are experiencing credit-limit reductions and account closures. Over the course of the past few weeks, Bankrate.com readers have been chiming in with their own credit-card tales. Many of their stories will seem familiar. Read More »

Outrage Over Credit Cards with 222% APR

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Outrage Over Credit Cards with 222% APR QCK, UK - 1 hour ago The money must then be repaid at a rate that is more than 10 times the average APR of a credit card. Debt groups and politicians have expressed anger at the ... Read More »

YOUR VIEW: Charles Merlis

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YOUR VIEW: Charles Merlis Hartford Courant, United States - 2 hours ago Instead many people have used it to reduce their credit card debt on which they are paying confiscatory rates. Credit card debt has increased exponentially ... Read More »

Humor: US Solves Credit Crisis, Credit Cards

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Humor: US Solves Credit Crisis, Credit Cards Gather.com, MA - 2 hours ago And with the average American owing more than $8000 in credit card debt , paying everything back is going to take a while. Fortunately, there are companies ... Read More »

I’m Afraid I’m Going To Get Laid Off. How Will I Pay My Bills? What Will I Do?

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“Dear Steve, When I read the news I get so afraid that I will get laidoff. Business at work seems to be slow and I find myself surfing the internet more at work and reading more of these stories about the pink slips that are coming. I’ve got bills and credit card debt to payoff and a wife and kids ... Read More »

Wal-Mart de Mexico Plans 100,000 Credit Cards by Year-End — With Interest Rates of 59% to 75%

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Next time I hear someone complain about high interest rates on credit cards in the U.S., I'll be sure to pass this story along to them. Wal-Mart de Mexico, which is known as Walmex, plans to ramp up its credit-card business in Mexico by the end of the year, according to Bloomberg sources. All told, the bank plans to issue more than 100,000 cards. The cards will have annual percentage rates that Read More »

A 12-Step Plan to Get Out of Debt Fast!

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Debt is a major problem for a lot of people these days. The problem is, even if they know they want to get out of it, they have a hard time figuring out how to start. If you fit this description, this 12-Step program spells it out for you. Now, there isn’t one way to get out of debt, and ... Read More »

Navy Tells Jonathan to Contact Me For Advice

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“Dear Steve, I’m a 30 year old married man, 2 children. My wife lost her six figure a year job in real estate, since then, we have lost two homes to foreclosure, 1 vehicle repossessed, and 15 major credit cards maxed out and not paid for 2 yrs+. Everything is in collection. We have about $1.2 million in un-paid debt. ... Read More »

Debt Problems Are The Same In Indiana As They Are In Ireland

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Patrick Bryan, a debt adviser friend of mine from Northern Ireland, and I were chatting recently about the universal nature of debt problems in the world. It became apparent that while we are all told that we live in an interconnected global economy it seems that the consumers of each country continue to suffer in silence when it comes to ... Read More »

Tony Writes In “I Have Too Much Debt On My Credit Cards”

Slow and Steady Will Win The Get Out of Debt Race

“Dear Steve, How do I quickly and easily get ALL my credit cards paid off with the limited income that I have? Tony Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here The Answer   Tony, ... Read More »

Jax Is Looking to Refinance And Has Some Questions

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“Dear Steve, I need to refinance my home in Oct of 2009. My credit score is 669. I have a mortgage of $130,000, home equity loan of $34,000, a car loan of $4,000, & credit cards of $4,000. Some credit cards don’t have balances. Do I close these credit cards and extend my home equity loan to pay for my ... Read More »

Crys Writes In And Asks “We’ve Been to Credit Counseling But Should We File For Bankruptcy?”

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“Dear Steve Hi! I am a piano teacher, and due the bad economy have very few students, even though I am used to having plenty. We just moved because we could no longer afford where we lived. We gave up our house in a deed in lieu of foreclosure. My husband took a cut in pay. We owe about $400 ... Read More »

Lourdes Writes In “What Should I Do to Get Out of Debt?”

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“Dear Steve, I’m in debt really heavy from credit cards and other loans. What should I do to get out of debt. Lourdes” Dearest Lourdes, Wow, I really want to help you with some great advice and awesome guidance but gee-whiz a little more information would be really helpful. Maybe next time you write in you can share a bit ... Read More »

Diane Writes In “I Want to Settle My Debt. My Creditor Wants to Take Me to Court.”

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Diane wrote to me at the GetOutOfDebt.org site and asked for help with her debt situation. You can write me too if you need help. Here is what Diane said: “Dear Steve, I have signed up with New Beginnings to get out of debt. I have paid them for two months so far and have stopped paying on a loan ... Read More »

Charlotte Writes In, “I’m Desperate To Get Out of Debt”

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Charlotte wrote to me at GetOutOfDebt.org and asked for free advice and help, which I gladly give. You can write me using the forms on the site. “Steve, I owe nearly $20,000 on a loan, a bunch of credit cards and some store cards as well. I’m 27 and I still live with my parents because I just can’t get ... Read More »

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