Debt Elimination

IT’S one of the toughest lessons an investor has to learn: while the value of assets can plummet posthaste, it takes forever to shrink the debt that was used to buy them.

Last week, this harsh truth was made clear yet again, in a report on consumers’ financial well-being by the Federal Reserve Bank of New York. The first of a Fed series to be published quarterly on household debt and credit, the 38-page report shows just how tapped out the consumer remains three years after the borrowing bubble burst.
continue

Firms that promise to write off loans and credit card bills face a crackdown to protect customers’ cash and force them to back up claims about successes.
continue

Consumer credit counseling programs are designed to help people who may find it difficult to manage debts. Research shows an increasing number of people struggling with debt and with poor credit history.

Most people in this situation, initially attempt to solve the situation by themselves by keeping a close eye on the accounts and reducing their spending. However, if this doesn’t work then it is time to seek help from a financial expert.
continue

There are many ways in which credit card companies make profits. Although, credit card companies make billions each year in legitimate interest charges and fees, they are constantly pressurised by their shareholders for better dividends.
continue

There are many federal laws that are in place to protect consumers and to likewise protect creditors. Beyond federal laws, each and every state has its own individual credit laws.

For more specific laws, acts and rules you will want to
continue