John and Jen Palmer are fighting the mother of all negative credit report records. The couple has decided to file a lawsuit against online retailer KlearGear for violations of the Fair Credit Reporting Act. Continue reading
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What is a zombie debt collector?
Zombie debt collectors are not supernatural, but they can still give you a nightmare. These debt collectors specialize in buying the cheapest, most outdated debt on the market. They then use scare tactics to pressure you to repay the debt. Continue reading
How to File FDCPA Lawsuits
A debt collector has the right to pursue collection of an unpaid debt that is in default. A debt collector does not have the right to violate your rights, which are guaranteed by the Fair Debt Collection Practices Act (FDCPA). Continue reading
How to Sue Debt Collectors
Deciding to sue debt collectors can help you assert your rights against an overly-aggressive debt collector. Debt collectors routinely violate debtor rights that are protected by the Fair Debt Collection Practices Act (FDCPA). Sometimes suing them is the only way to enforce your rights, especially if you have been illegally harassed or threatened by a collection agency. Continue reading
GE Capital forced to refund $34.1 million to CareCredit borrowers
The Consumer Financial Protection Bureau (CFPB) announced that GE Capital Retail Bank will be providing refunds that could affect up to 1 million cardholders. At issue is the confusion surrounding deferred interest financing plans which consumer advocates claimed trapped unaware borrowers into high interest credit arrangements. Continue reading
What Interest Rate Does Springleaf Financial Charge?
If you need an unsecured personal loan and have been shut out by big banks, you may have considered getting a finance company loan. Springleaf Financial (formerly American General Finance) is one of the leading consumer finance companies in America. If you are considering applying for credit, you may want to consider what interest rate Springleaf Financial charges on its personal loans. Continue reading
Benefits and Qualifications for a Debt Management Program
A debt management program is one of the essential tools utilized by credit counseling organizations. It provides for a structured repayment of debt at favorable terms. You might pay a fraction of your normal interest payments, if you qualify. Continue reading
Auto Debt Consulting and Hope for Car Owners were Nothing but Scams
California companies Auto Debt Consulting and Hope for Car Owners LLC have been sued by the Federal Trade Commission for running vehicle loan modification relief scams. The crooks made false promises and reneged on their 100% money back guarantee. Continue reading
Effects of Debt Balances on Credit Scores
Credit scores reserve 30% of the weight in their formulas to account for your debt balances. Put simply, the more you owe, the more likely you may default. Continue reading
The ideal credit utilization ratio is under 10%, not 30% as commonly believed
Your credit utilization ratio is responsible for about 30% of your credit score. It is second only to payment history in importance. There are five main components of credit scoring.
If you are trying to improve your credit score, then paying attention to your credit utilization ratio is important. Even so, it helps to understand what an ideal credit utilization ratio actually is. Continue reading
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