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Credit Repair

New Jersey Says to Avoid Credit Repair Scams. Puts Out Interesting Video.

The Garden State has launched a campaign to help warn consumers about credit repair scams. Theor campaing is replete with a credit repair brochure, video and radio ad. NJ Credit Repair Warning I did laugh out loud at the video they put put below. The guy in the video, who apparently overspends on his credit card to impress a woman, ... Read More »

    Credit Repair Operation Barred By Court From Collecting Up-Front Fees

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    A credit repair operation has agreed to stop making false claims and stop charging up-front fees under a settlement with the Federal Trade Commission. The settlement is part of an ongoing crackdown on scams that target financially strapped consumers, taking hundreds of dollars of fees to purportedly remove negative information from consumers’ credit reports even if the information is accurate ... Read More »

      Credit Repair Scams on the Rise

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      A recent article by Kenneth Harney of the Washington Post pointed out an observation I’ve had as well, credit repair scams are on the rise. These scams make believe believe that for a fee, bankruptcies, judgments, law suits, collection activity, or other derogatory items can be removed from a consumer credit report. That is simply not true. One such company ... Read More »

        Deceptive ‘Credit Card’ Marketers Settle FTC Charges; Cards Were Good Only for Buying ‘Low Pay’ Catalog Merchandise at High Prices

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        As part of its ongoing efforts to stop deceptive marketing, the Federal Trade Commission halted an operation that deceived consumers into paying for bogus credit cards and charged them illegal fees. The marketers behind this operation agreed to a settlement that will halt their illegal tactics and provide money for consumer redress. The FTC reached a settlement with six defendants ... Read More »

          Offshore Debt Settlement, Morgan Drexen, Badges, Elizabeth Warren, Bed Intruder, CROA, and More – Podcast

          Here is this weeks podcast where Damon Day and I talk about a number of debt industry issues including: Debt settlement companies settling up offshore enterprises to sell services back to U.S. residents. The odd statements made in the recent Morgan Drexen press release. You can watch video from the release here. What is the Financial & International Independent News ... Read More »

            Off to College: How to Use Credit Cards and Not Get in Over Your Head

            Total Interest Payment Made When Paying Only the Minimum Payment

            Let’s face it: when it comes to getting credit, most students have it easy these days. Most college students do get credit cards — and plenty of them if they want. According to a recent study for the Education Resources Institute and the Institute for Higher Education Policy, many college students have credit cards and some of them got their ... Read More »

              CPN and Dormant Social Security Numbers, Another Scam

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              The Independent Mail out of Anderson, South Carolina is reporting that the CPN scam I previously wrote about, CPN – Credit Profile Number / Credit Privacy Number – Craigslist Scam to Watch Out For, is still chugging along. The numbers are usually in the name of young children who have no credit history but can also be numbers once assigned ... Read More »

                How Do You Value Your Quality of Life? Debt Solutions to Fix The Future

                Photo Credit: Cayusa

                Debt doesn’t just affect the people actually in debt, it often affects the ones around them, near and dear to them. I know this from first hand experience as someone who has loved and lived with someone so deep in debt they could not see a way out. Not only is the emotional toll hard on the debtor but also ... Read More »

                  Credit Repair Boss Steals Nearly a Million Dollars from Best Buy

                  In 2006, Joseph A. Graziola, III was charged by the Federal Trade Commission for his fraudulent credit repair activities under his company Bad Credit B Gone. This case ended with a $322,047 judgment against Graziola. Bad Debt B Gone was nailed for making the same old stupid and fraudulent promises of removing accurate but negative items from credit reports. This ... Read More »

                    How to Rent an Apartment With Marks on Your Credit

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                    If you’ve had credit problems in the past, you may find it difficult to rent an apartment through traditional means. Many rental agencies and some private landlords do “credit checks” before renting, and a poor payment history can hold you back from getting the place you want. But don’t give up! You do have options, especially if you are willing ... Read More »

                      Parents: Helping Your Child With Credit Problems

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                      George’s parents were applying to refinance their home when they found that George had opened several credit card accounts using their names. He even forged their signatures. When they confronted him, he simply shrugged and told them he couldn’t qualify on his own – how was he supposed to get credit? Sarah’s parents cosigned a credit card application for her ... Read More »

                        Do It Yourself Guide to Credit Reports: 10 Ways to Improve Your Credit

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                        So your credit’s not so hot. A few late payments, maybe an account or two that went to collections. What’s the big deal? As you’ve probably found out, it may be a very big deal. You’ve probably already been turned down for the best credit cards and maybe you’ve had trouble getting a car loan. Perhaps you’ve even put off ... Read More »

                          Credit Card or Debit Card: The Great Debate

                          Credit Card vs. Debit Cards A Side-by-Side Comparison

                          Having trouble getting approved for a credit card? Do you have bad credit? Maybe a debit card is the answer. Today, more and more banks and financial institutions are rushing to issue their customers debit cards. In fact, many of these companies routinely issue “enhanced” ATM cards that can also be used as debit cards to make purchases. This article ... Read More »

                            How to Get All the Cheap Credit You Want

                            Interest Cost to Pay Off Various Credit Card Balances

                            Today, the average person pays between 16 and 17 percent on credit card balances. While interest charges may seem low when you look at the monthly charge on your statement, over the long run they can really add up. In fact, the average person can put a hundred bucks or more in his or her wallet just by getting a ... Read More »

                              Credit Scoring: How it Works and How You Can Improve Your Score

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                              What Is Credit Scoring? If you have tried to get credit, a loan or a mortgage, you may have had your credit information graded for risk potential. This is called “credit scoring” or “risk scoring.” Credit scoring is one factor that lenders or creditors consider to determine if they should give you a loan, a mortgage or extend you credit. ... Read More »

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