Archive | November, 2009
Homebuyer Tax Credits and Fraud
The American Recovery and Reinvestment Act passed in February 2009 included a provision granting an $8,000 tax credit to first time homebuyers. The tax credit program ends on November 30, 2009 and there is a push on to extend it into 2010. The Homebuyer Tax Credit Act of 2009 has been introduced in the House [...]
Continue reading...Characteristics of Effective Credit Counseling
7. November 2009
Debt can be extremely difficult to overcome and for people with serious debt issues, getting help can be just what the doctor ordered. One of the common sources of help for those with debt problems is credit counseling. Taking the step of visiting a credit counselor for the first time can be a daunting task. [...]
Continue reading...Pros and Cons of Online Banking
5. November 2009
One of the fastest growing trends in banking is that an increasing number of bank customers are using online services to meet their banking needs. The Internet provides a medium for bank customers to easily check account balances, pay bills, transfer funds between accounts, and handle other transactions that used to require a trip to [...]
Continue reading...Obama Mandates Credit Counseling Before Bankruptcy
4. November 2009
Americans have had a complete turnaround in their spending habits. Those Americans who were working during the relative prosperity of the 1990s, but perhaps missed some of the recessions in the 1970s or late 1980s, tended to spend everything they made – and even some that they didn’t make. Of course, excessive spending was a [...]
Continue reading...Five Ways Credit Card Companies Can Still Abuse Customers
4. November 2009
The credit card industry has been in the news a lot lately as new legislation has been signed into law protecting consumers from abusive credit card practices. Consumers have found credit card issuers taking the pain of the recession out on them as more and more cardholders fall behind on their payments. Because the law [...]
Continue reading...Three Efforts to Enhance Small Business Financing
2. November 2009
Small businesses are the heart and soul of the American economy and their inability to access financing as they have struggled through the recession continues to hinder their ability to recover. Until small businesses can start hiring again, unemployment is likely to remain high and businesses will have a difficult time growing. President Obama spoke [...]
Continue reading...US States Implement Stricter Rules on Debt Collection
1. November 2009
Consumers facing increasing delinquencies are also facing more aggressive debt collection procedures. Anyone who has had to deal with professional debt collectors knows they can be ruthless at times. Because of this ruthlessness the US Congress passed national consumer credit laws that limited the actions of debt collectors. For example, before the national law, collectors [...]
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7. November 2009
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