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City Employee Gets 18 Months Probation for Bootlegging Polka Party DVDs on City Equipment

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A veteran Warren, Michigan employee who used city equipment to make bootleg polka party DVDs for profit will serve 18 months of probation and pay $600 in restitution and fines. Frederic DeChausse, a cable specialist for Warren TV, pleaded no contest on Monday to a misdemeanor count of copying audiovisual recording for gain and embezzlement. Under a plea agreement, prosecutors ... Read More »

    Bank of America CEO: We ‘Missed the Mark’

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    Bank of America CEO Brian Moynihan says the company is working to improve customer experience, sitting down with policymakers reforming the financial system, improving risk management practices and making changes to its compensation structure. “Before and during the recent crisis, many of our collective business judgments missed the mark,” Moynihan writes in the letter. “We believe the changes we’re making ... Read More »

      Attorneys Have Debt Problems And File Bankruptcy Too

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      This article was written by my bankruptcy attorney friend Dan Nunley in Oklahoma. It brings up so very good points and Dan said he didn’t mind if I share it with you here. So far this year, I’ve been contacted by three attorneys who are considering filing bankruptcy. I’ve been a bankruptcy lawyer for fifteen years now and it seems ... Read More »

        Be Careful if You Use Your Personal Credit Card for Business Purchases

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        Now that the new CARD Act (Credit Card Accountability, Responsibility and Disclosure Act) has been implemented to prevent unfair interest rate hikes and protect consumers there is a big loophole if you use your personal credit card for business purchases. The problem is that the CARD Act does not apply for business or corporate credit cards or cards used as ... Read More »

          Freedom Debt Relief Bragging About Being in Forbes. Not So Fast Fellas. Back the Bus Up.

          I am constantly accused of targeting this company or that company but in truth I’m so busy writing about the next thing to cross in front of me I don’t have time to have anyone on the radar. I say that because I find myself writing something that involves a company I’ve written about before, Freedom Debt Relief, a debt ... Read More »

            Consumers More Likely to Pay Credit Cards Than Mortgage

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            From the good folks over at US News & World Report is this interesting article, “Forget the Mortgage, I’m Paying My Credit Card Bill” by Luke Mullins. Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. A recent study developed ... Read More »

              Rules for Debt Settlement Companies Would Help Protect Consumers

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              An editorial out of Michigan does a good job of summing up the grassroots feelings of educated consumer activists regarding needed debt settlement regulations. Here is the editorial: Pay off your debts for just pennies on the dollar! One phone call can save you from years of financial misery! Sales pitches like these might sound like they’re coming from a ... Read More »

                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. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? 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″] Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? 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 »

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