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Before You Walk Away From Your Mortgage, Read This

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Last week I received an email from a desperate couple in Illinois. Here’s the edited version of their note: "My wife and I have been struggling, morally, with what to do. We have two interest-only, adjustable-rate mortgages with two different lenders coming due in May of 2011. I currently can handle paying all my bills–but just barely, with nothing left ... Read More »

    Something Not to Do When Feeling Bummed About Your Debt

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    All I can say is DON’T DO THIS no matter how bad you feel about your debt situation. Read More »

      Debt Consolidation Lender Has Too Much Money to Lend. Needs Customers.

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      LendingClub.com just told me that they are backing up with too much money to lend to consumers and are in search of people that are looking for fixed rate, unsecured loans. LendingClub.com is a people-to-people lending network that typically charges lower interest rates than banks and makes the borrowing process automated, online and less scary. Individuals like me lend money ... Read More »

        Is the iPad a Debt Worth Having?

        Apple iPad

        The Apple iPad is great device for people to access their “stuff” in new ways without having to lug around a cumbersome laptop or tiny screen netbook. The functionality of the iPad simply adds to the features it brings to ambulation computational demands. But is it worth the price? Not to tip my hat, I’d have to say “Hell yes”, ... Read More »

          PayPal iPhone App Users “Poised to Become the Dominant Species”

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          As a devote Apple user I can’t say enough good things about their products and especially their tech support, Amazing! But here is a cute ad from PayPal pushing the new iPhone PayPal Bump app that made me laugh. Poll – Vote Now [poll id=”22″] Read More »

            Irony: Man Scams Prison Inmate And Gets Jail Time

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            A Stockton, Calif., man who scammed a federal prison inmate in Marion, Ill., was sentenced to 61 months in federal prison on Monday. Michael R. Ussery, 34, pretended to be an informer for the Drug Enforcement Administration and promised another inmate that he could earn a shorter prison sentence by funding undercover drug investigations, prosecutors said. The Marion prison inmate, ... Read More »

              Have Consumers Really Learned Not to Spend on Credit Cards? Nope.

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              I wish I could remember who I was having the conversation with a year ago about consumers will have learned a fundamental lesson about how to manage money as a result of this economic downturn we’ve faced in 2007-2010. My point was that any trend downwards in credit card spending is temporary and if consumers are given a chance to ... Read More »

                Watch Out for Calls Promising a Refund of Credit Protection Payments

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                Be on the look out for an up and coming scam where callers pose as employees of credit card companies and promise you a refund for credit protection insurance you may have paid for. They will ask you for your credit card and banking information in order to process the refund. It’s a scam. Any legitimate credit card company initiating ... Read More »

                  Legally Remove Negative Information on Your Credit Report

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                  Well it has happened again. Yet another credit repair organization has fallen under the sledgehammer known as the Federal Trade Commission and you know what, rightfully so, idiot scammers. Wishful consumers desperate for a quick fix to hide accurate but negative items on their credit report are easy prey for credit repair scammers looking to make a quick illegal buck. ... Read More »

                    Failure: The Secret to Success

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                    Here is a nice movie from Honda about about the benefits of failure. Even though this is primarily about motorsports, many of the messages are still very true when it comes to dealing with all sorts of failure in life. And the key benefit of failure is to learn from the mistake and use that to make life better moving ... Read More »

                      Couple Posed as Bogus Debt Settlement Company to Steal Money

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                      Authorities say a Texas couple has been charged with wire fraud for swindling $13,000 from a north Mississippi couple while purporting to work as a debt settlement company. Mississippi Attorney General Jim Hood said 50-year-old John Clune and 44-year-old Monica Clune are from Farmer’s Branch, Texas. Both were charged Thursday on five counts. Hood said Friday in a news release ... Read More »

                        Woman Finally Admits She Cooked Finger and Put It In Her Wendy’s Chilli

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                        Scammer comes clean. In 2005, Anna Aayala was dining at a San Jose Wendy’s restaurant when she claimed she chomped down on a partially-cooked segment of human finger. The fast food chain suffered an estimated $21 million in lost business. Her husband, Jaime Plascencia, got the severed finger from a co-worker, who lost it in an industrial accident. Both Ayala ... Read More »

                          It’s Banks vs. Families, Who Will Come Out on Top? Q&A With Elizabeth Warren | Green Day | Fast Company

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                          Here is an interesting excerpt from an interview with Elizabeth Warren, Esq. FC: I understand that at one point you pursued an entrepreneurial path to reform the consumer financial products market. EW: The short version is that I studied the economics of the middle class and I began to see that credit products were becoming increasingly dangerous. Families didn't know ... Read More »

                            Lawyer Tumbles Down a Rat Hole After He Stole $1.5 Million From Hess Kennedy Receivership

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                            I’ve written a lot about the Hess Kennedy debt settlement scam and I even interviewed Daniel Stemer who is mentioned in this article but this recent piece by John Pacenti gives of the latest of the curse that is Hess Kennedy. Even former Hess Kennedy sales referral agents, The Credit Exchange may be on the ropes now as well. Anyway, ... Read More »

                              Walking Away From Your Home Might Be The Best Thing to Do for You

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                              It’s interesting that the banking community doesn’t want consumers to walk away from their homes when the house has lost so much value that the home is now worth less than the mortgage. But this would be the very same banking community that made these unrealistic and dubious loans to begin with during the high flying mortgage days. More consumers ... Read More »

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