Everyday, companies target people who have poor credit histories with promises to clean up their credit reports so they can get a car loan, a home mortgage, insurance, or even a job – after paying a fee for the service. The truth is that no one can remove accurate negative information from your credit report. It’s illegal. Continue reading
Archive for the Debt Category
Credit Repair: These Facts Can Keep You Out of Hot Water
Posted in Credit, Debt with tags Credit, Credit Repair on June 9, 2009 by VickyDebt Relief Services…Make Sure You Get The Facts
Posted in Debt with tags Debt, Debt Settlement on June 4, 2009 by VickyIf you’ve maxed out your credit cards and don’t know how you’re going to pay off your debts, you may think that a company that promises to erase the debt for pennies on the dollar is the answer to your prayers. Not true! Debt negotiation can be risky, and it can have serious, long-term consequences for your credit report and your ability to get credit in the future. Continue reading
Mortgage Debt Forgiveness
Posted in Debt, Home Foreclosures, Home Mortgage, Taxes with tags Debt Forgiveness, Home Foreclosures on June 3, 2009 by VickyIf your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income.
Credit Card Accountability, Responsibility, and Disclosure Act
Posted in Credit, Debt with tags Credit, Credit Cards on May 19, 2009 by VickyConnecticut Senator Chris Dodd, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today hailed Senate passage of his legislation to put an end to the abusive, misleading, and deceptive practices employed by credit card companies. Dodd’s Credit Card Accountability, Responsibility, and Disclosure Act was approved by a vote of 90 to 5, and will now be sent to the House of Representatives for consideration. Continue reading
House Approves Credit Cardholders’ Bill of Rights
Posted in Credit, Debt with tags Credit Cardholders’ Bill of Rights Act on May 11, 2009 by VickyThe House of Representatives overwhelmingly passed legislation that would protect consumers from deceptive credit card practices and equip them with the information and rights they need to responsibly manage their credit. The Credit Cardholders’ Bill of Rights Act passed by a vote of 357 to 70. Continue reading
FTC Offers Pay-Off Information to Consumers with Non-Bank Credit Cards
Posted in Bankruptcy, Credit, Debt with tags Credit Cards, Debt on April 16, 2009 by VickyCarrying a credit card balance can be expensive for consumers, especially for those who make only minimum monthly payments. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that consumers be provided with toll-free telephone numbers to call for an estimate of how long it will take to pay off their credit card balance, if they make minimum payments. Continue reading