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Credit Card Companies Are Coming For You. Protect the Wife and Children.

I see a new advertising campaign in our future. When Banks Panic You Lose Even though the Federal Reserve has lowered its rate to 1%, banks are raising your interest rates in hopes of making a bigger profit. Oh yes, they are raising your fees or charging news ones as well. At a time when …

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Bank of America Offers “Clean Sweep” Debt Consolidation Loan Up to $50,000. Let’s Look at The Facts And See Who Is Really Cleaning Up.

In this time of great economic worry and stress, Bank of America is sending out an offer they call their Clean Sweep® – Bank of America® Debt Consolidation Plan. I thought it would be beneficial to take a close look at this offer and use it to help educate readers about what to look for …

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Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out.

Credit card lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings have finally come together with the help of the National Foundation for Credit Counseling, Consumer Federation of America and the Financial Service Roundtable to start the process …

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

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.

Personal Finance Brain Trust – What Rights Should Debtors Have?

This weeks brain trust question was: Question: Bank of America is proudly telling people about their new loan modification program and how much it will help people. But this program did not materialize until Bank of America was sued by some states over predatory lending. The real world situation is that the majority of lenders …

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