Why Are the Advertised Consolidated Loan Rates Different That the Ad?

Interest Rate

Question: Dear Steve, At the advertised numbers, I would have consolidated. What happened to the advertised rate? Bill Answer: Dear Bill, I’m not sure exactly what advertised numbers you are speaking about, and normally a question so short would not make it to the site to be answered, but you bring up a great teachable … Read more

I Make Too Much Money to Repay My Student Loans. – Nick

Question: Dear Steve, Great credit and can afford student loan payment, but I can only afford the interest only payment. Any options for a guy who wants to pay his student loans off, but hates how Sallie Mae, Navient, etc work? Essentially I need a 0 percent 30 year loan and I could pay these … Read more

2 Reasons Interest Rates Will Rise & 2 Ways to Avoid Higher Rates

Forecasting the future is always hard. Companies pay big bucks to economists in an effort to get an edge on what might happen in the financial markets. Sometimes they’re right. And, sometimes they’re wrong. But sometimes a review of relevant facts can shed light on what the future may bring. Or at least make it … Read more

Couple Faces Serious Jail Time For Their $25 Million Nationwide Telemarketing Fraud Scam

Kara Singleton Adams, from Georgia, was found guilty last week on charges of wire fraud, conspiracy, and structuring financial transactions, relating to a $25 million nationwide telemarketing fraud scheme. Already convicted in this scheme are three co-defendants including Adams’ husband, Jason James Eyer, James Adolph Schoenholz, and Brittany Dunphy. All three pleaded guilty to related … Read more

I Would Like to Consolidate My Debt, However I’m Having a Difficult Time Finding Someone Who Will – Laurie

“Dear Steve, I am current of all of my debt. Do not have any past due debt. I do have about 25,000 in credit card debt and would like to consolidate, however am having a difficult time finding someone. Also, my main problem is that I have a Bank of America card fo 12,000 that … Read more

How the Soldiers’ and Sailors’ Civil Relief Act Can Help You

Service personnel experience financial difficulties that are unique and need special attention. Fortunately, there are special laws to help them cope and this article discusses their rights and protections under the Soldiers’ and Sailors’ Civil Relief Act, 50 U.S.C. §§ 501 et seq. What is the Soldiers’ and Sailors’ Civil Relief Act? The Soldiers’ and … Read more

Should I Do Debt Consolidation or Debt Settlement? – Jimi

Jimi “Dear Steve, I am $60,000 in credit card debt. The banks have lowered all my limits and raised all my interest rates astronomically. Is it better for my future credit to do Debt Consolidation or Debt Settlement? Thanks! Jimi” Dear Jimi, A debt consolidation could be refinancing the home mortgage to take cash out … Read more

Daniel Writes In – “How Can I Get Out of Credit Card Debt?”

Daniel says, “I’ve been buried in credit card debt and it feels like I make payments each month and instead of things going down, things go up. My interest rates recently went up even though I have not missed a payment or paid late. Another one of my MasterCard’s just lowered my limit a lot. … Read more

Rebecca And Her Husband Are Struggling to Keep The Business Going

“Dear Steve, My husband and I own our own business but have been struggling lately. I work a 9-5 job while he stays at home to run the business. We owe a lot of debt in credit cards from working to get the business up and going – and we’re just a few hundred dollars … Read more

Is It Legal For Bank of America to Raise My Interest Rates? – Lucy

Lucy “Dear Steve, Have been advised about Bank of America raise in interest rates. I have never been late on a payment. Would like to be part of class action suit. Is this legal? Lucy” Dear Lucy, The only Bank of America class action lawsuit I am familiar with is the one I previously wrote … Read more

I Carry Very High Balances On My Credit Cards. – Joyce

Joyce “Dear Steve, I CARRY VERY HIGH BALANCES ON MY CREDIT CARDS,AND ALWAYS MAINTAIN TO PAY MORE THAN THE MINIMUM (NO LATE PAY EITHER). WITH A FEW BANK MERGERS, I’M RECEIVING A CHANGE OF RATE FROM FIXED TO VARIABLE APR..AND IF I DON’T AGREE CLOSE THE CARDS,WHICH IN TURN LOWERS MY CREDIT SCORE.I DON’T KNOW … Read more

Collection Agent Trying Not to Use Violence

A recent article in the Christian Science Monitor just exemplifies how different consumer debt rules are around the world. In some areas debt collectors can intimidate you and in other parts of the world they can come to your home and office and shame you, grab you or break in. The article is about debt … Read more

My Credit Card Companies Said They Can’t Help Even if They Got a Bailout. – Shaun

Shaun “Dear Steve, Hubby and I bought our home in 2007, our credit was in pretty good condition. We had the same amount of credit cards as we do now, with the exception of 2. One each. Some are the same cards for both of us. We have about 13 or 14000 in just credit … Read more

Bush Administration Rolls Out Wimpy Mortgage Assistance Plan

The Bush administration today rolled out a plan to help homeowners in trouble with their mortgages. While proclaiming big help the plan does not go anywhere near far enough to help those in the most trouble. Homeowners 90 or more days late in their mortgage payments, owe at least 90% of their home’s current value, … Read more