Student Credit Card Debt Rising at an Alarming Rate According to Study
Posted On: April 30, 2009
By Michael Killian, CardRatings.com Reporter
Editor’s Note: This article is an interview with Dr. Mary Ann Campbell, CFP, an instructor of Personal and Family Finance in the Family and Consumer Sciences Department of the University of Central Arkansas.A recent national study by Sallie Mae, the nation’s leading provider of student loans and administrator of college savings [...]
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StumbleUponChase’s Reversal of Credit Card Fee Proves that Consumers Aren’t Powerless
Posted On: April 28, 2009
By Joe Taylor Jr., CardRatings.com ReporterIn the wake of last week’s meeting of credit card executives with the Obama administration and pending credit card legislation, I think we should point out the most encouraging recent example I know of that proves that we as consumers can make a change in this industry without relying on [...]
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Obama’s Credit Card Reform Pledge on Thursday’s Agenda
Posted On: April 23, 2009
By Joe Taylor Jr., CardRatings.com ReporterCredit card reform tops the agenda at a meeting of banking executives at the White House on Thursday. Treasury officials originally planned the event as a discussion about pending credit card legislation. However, the meeting made front page news when White House officials announced that President Obama will personally address [...]
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The Truth About Credit Card Debt Settlement (Part 3)
Posted On: April 21, 2009
By Curtis Arnold, CardRatings.com Reporter
Editor’s Note: This article is the third of a three-part series about debt settlement.
Taxes and Settlement
The IRS classifies forgiven debt as income. (That’s true even if the settled amount included interest or penalty fees.) If you owe $10,000 and settle for $6,000, the difference is considered to be taxable income. This [...]
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The Truth About Credit Card Debt Settlement (Part 2)
Posted On: April 16, 2009
By Curtis Arnold, CardRatings.com Reporter
Editor’s Note: This article is the second of a three-part series about debt settlement.
How is Settlement Different Than Credit Counseling?
Credit counseling and debt settlement are two completely different approaches. Most credit card companies work with credit counseling agencies. They will often encourage consumers who are having trouble paying their bills [...]
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The Truth About Credit Card Debt Settlement (Part 1)
Posted On: April 14, 2009
By Curtis Arnold, CardRatings.com Reporter
Editor’s Note: This article is the first of a three-part series about debt settlement.
As an increasing number of people struggle to pay their bills, debt settlement companies are thriving. You can find their ads promising to settle your debts for pennies on the dollar anywhere.
If you’re drowning in debt, those [...]
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How to Overcome High-Pressure Credit Card Debt Collection Tactics (Part 2)
Posted On: April 7, 2009
By Gerri Detweiler and Mary Reed, CardRatings.com Reporter
Editor’s Note: This article is the second of a two-part series on debt collection.Calling Debtors At Work
If a debt collector calls you at work and you tell him that you can’t talk to him when you are on the job, he must stop contacting you there immediately. [...]
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How to Overcome High-Pressure Credit Card Debt Collection Tactics (Part 1)
Posted On: April 3, 2009
By Gerri Detweiler and Mary Reed, CardRatings.com Reporter
Editor’s Note: This article is the first of a two-part series on debt collection.On a recent Dateline NBC investigation, debt collectors posing as law enforcement officers were captured on tape illegally threatening debtors with immediate arrest if they didn’t pay up. Unfortunately, complaints about high-pressure debt collector tactics [...]
