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New bankruptcy laws - a boom for consumer credit counselors
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Get ready. You may be seeing a whole lot more pop-up ads, this time for new credit-counseling agencies vying to help you with your debt.
Those new ads are just one of the many impacts the new bankruptcy bill will have on you. ...
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Bankruptcy Rush: People line up to have debts forgiven before new laws take effect
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Big changes in U.S. bankruptcy laws will make it more difficult and expensive for individuals to seek forgiveness of their debts after Oct. 16, and there's a growing crowd of consumers queueing up to take the plunge before then.
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"Nonprofit" credit counseling outfits are not consolidation companies.
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They don't loan any money. They negotiate with the lenders for better terms, low interest rates, etc. The lenders are ordinarily not agreeable to negotiating until such time as you are seriously in arrears. As long as you are on time, there is no reason for them to negotiate. You borrowed the money, you're supposed to pay it back.
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Credit card minimum payments no longer enough
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Beginning July 1, many banks will increase minimum credit-card payments from 2 percent of the principal balance, fees and interest to 3 percent or higher.
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Debt-reduction strategies
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Creditors, which prefer to make back the money they've lent instead of losing it to bankruptcy, often are willing to negotiate your repayment. Here's what to do...
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Revisions would help consumers better understand credit card terms
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For the first time since 1980, the Federal Reserve Board is considering major revisions to the clarity and content of credit card disclosures so consumers can better understand the terms of their cards and make more informed decisions about using them.
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Florida Attorney General investigates debt negotiator
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Florida Attorney General Charlie Crist said his office is 'very aggressively' investigating a New Port Richey company that, for a fee, promises to use a legal loophole to eliminate tens of thousands of dollars in credit card debt.
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Consumer credit card debt - tactics to freedom
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Six tools to help consumers out of credit card debt.
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Consumer borrowing sees slow increase
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Americans increased their borrowing for auto loans and other types of consumer debt at an annual rate of 0.7 percent in April, the slowest increase in five months
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Credit Cards Getting Easier to Use
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You might think the credit card industry would have a hard time offering us a new and improved version of the plastic rectangles most of us already carry in our wallets. Well, the industry has done it.
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U.S. April consumer credit below forecast
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U.S. consumer credit rose in April at an annual rate of 0.7%, or $1.3 billion, the Federal Reserve said Tuesday. The increase was much less than expected. ...
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Credit-card companies raise minimum payments
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New federal regulations have credit-card companies boosting the minimum amount customers pay each month. Some companies already have increased minimum payments -- and others will soon.
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Consumer Credit Counseling Takes Another Hit
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Following Congressional hearings
regarding the abuses in the credit counseling industry and the increasing IRS
scrutiny, the United States Court of Appeals for the First Circuit has weighed
in with strong support for consumers.
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Some cities see foreclosures rising
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Death, divorce and job loss are the most frequent harbingers of foreclosure, as homeowners are forced to keep paying dual-income mortgages on a single salary.
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Consumer Credit: Summer of bankruptcy
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Between April and October, an increasing number of Americans will file for bankruptcy protection. This action is inevitable because a harsher bankruptcy code begins Oct. 17. That law takes effect at a time when credit is becoming more expensive for ordinary consumers.
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