Archive | May, 2010
Haiti’s World Debt Eliminated
Haiti, the poorest country in the Western Hemisphere, is still struggling to rebuild after a devastating earthquake in January. In an effort to help this country, the World Bank announced that it has eliminated the country’s debt. According to AFP, that means that Haiti will not have to repay $36 million owed to the International [...]
Continue reading...Debt Settlement Produces More Welfare than Credit Counseling
29. May 2010
“Debt Settlement Produces More Welfare than Credit Counseling” – Franklin Debt Relief to FTCA new report submitted by Franklin Debt Relief’s CEO, Robert Zangrilli, to the FTC shows that debt settlement benefits consumers more than credit counseling, and in fact, consumers who use credit counseling lose more money in non-refundable payments than they save based [...]
Continue reading...Consumers may control finances via text message with new service
29. May 2010
The growing popularity of mobile banking has been greeted by an increasing number of such services. First Internet Bank is among the latest to join these efforts with its text message banking service, according to a recent release from the company. Customers will be able to review balances and transaction history and transfer funds through [...]
Continue reading...BBB warns consumers against popular credit repair company in Texas
26. May 2010
A popular credit repair company has received an F rating from the Better Business Bureau in Texas for neglecting to respond to client disputes, NBC affiliate KIII reports. Word of Mouth Credit Repair company allegedly charged clients up-front service fees and promised consumers that their credit scores would be raised "approximately 125 points in 30 days," [...]
Continue reading...Thousands Find Unclaimed Money, Millions More Available
22. May 2010
Thirty-three billion dollars in unclaimed money is sitting in state treasuries and government accounts, waiting to be claimed. That’s an average of $280 for each payment of unclaimed funds, according to the National Association of Unclaimed Property Administrators. The CBS Early Show recently aired a segment showing people how to get money that’s owed to [...]
Continue reading...Wells Fargo introduces new student loan option
22. May 2010
Paying for higher educational may soon become more affordable thanks to a new student loan option from Wells Fargo & Company. The Wells Fargo Student Loan for Parents is targeted toward parents or sponsors and enables them to pay interest on student loans for up to 48 months while their child is still in college. This [...]
Continue reading...Tuesday’s Twitterer To Follow: @MoneyManagement
19. May 2010
Wondering who to follow in the big wide world of Twitter? There are plenty of great Twitterers out there tweeting about money, debt, and finance– the topics we know you love. So every other Tuesday we’ll be highlighting a Twitterer [...]
Continue reading...Payday lenders remain anxious as Senate vote on regulatory reforms looms
19. May 2010
The financial regulatory overhaul currently being debated in Congress has many industries panicking, including the payday loan sector. The Senate is expected to vote on a slew of amendments this week that may exempt some business sectors from the new regulations. Payday lenders have hired lobbyists to make their point on Capitol Hill and the sentiment [...]
Continue reading...Seattle Ranks Highest In Consumer Debt
16. May 2010
Maybe all those $4 coffees are to blame, but according to a new study Seattle ranks highest in consumer debt. Residents of Seattle hold an average of $26,646, according to Experian. However, Dallas, Denver, and Atlanta follow close behind. Well over half of the cities surveyed were over the national average in consumer debt [...]
Continue reading...Des Moines City Council places moratorium on payday lenders and pawn shops
16. May 2010
The Des Moines City Council voted in a special meeting on Thursday to place a temporary moratorium on pawn shops and payday lenders relocating to the area, the Des Moines Register reports. The six-month ban will give city council members time to encourage state lawmakers to impose tighter regulations on the industries, the newspaper reports. Currently, [...]
Continue reading...Tuesday’s Twitterer To Follow: @FreeFromBroke
12. May 2010
Wondering who to follow in the big wide world of Twitter? There are plenty of great Twitterers out there tweeting about money, debt, and finance– the topics we know you love. So every other Tuesday we’ll be highlighting a Twitterer to follow. This [...]
Continue reading...Consumer Reports show improvement in May
12. May 2010
Consumers’ troubles have eased as negative experiences with credit cards, difficulty affording healthcare coverage and other financial challenges tapered off in May, according to Consumer Reports. The organization’s Trouble Tracker Index fell to 53 from the previous month’s 63.5, while the Employment Index reported moderate gains. The former was driven downward by a 2.9 percent decrease [...]
Continue reading...New Graduates Face Changes With School Debt
9. May 2010
Graduation may be a happy time for college students, but soon they’ll start having to pay back those pricey school loans. New changes in the federal lending program begin to kick in on July 1. The major change is that the Education Department will now provide federal loans through college financial [...]
Continue reading...Senate refuses to limit regulatory powers of CFPA
9. May 2010
The Senate voted on Thursday to uphold the current regulatory powers of the proposed Consumer Financial Protection Agency, to the chagrin of those opposing the watchdog organization, USA Today reports. "We’ve gone from the ax to many knives," U.S. Public Interest Research Group’s Ed Mierzwinski comments. "This was a major pushback," he added. The proposed agency, which [...]
Continue reading...New Poll: Women Spending Lots Of Money On Summer Clothes They’ll Never Wear
5. May 2010
Millions of dollars worth of shorts, tank tops, and bikinis will never see the light of day according to a new study by Special K. The study found that British women waste the equivalent of $985 million dollars buying summer outfits that are too snug. One in four women are wasting about $100 on ill-fitting [...]
Continue reading...Report: Climate eases somewhat for consumer loans
5. May 2010
For consumers in the market for an auto loan, this may be a good time to apply because of a combination of dealer incentives and slight improvements to the lending climate. Citing survey results from senior loan officers, the Federal Reserve recently reported that many banks kept their lending standards unchanged for the month of [...]
Continue reading...Eliminate Debt With The Help Of A Summer Job
2. May 2010
Rather than working on your tan, summer may be the perfect time to simply work. Summer is approaching and if you’re a student or a teacher you may have some extra time off. Even if you already work full-time you may want to consider using the summer months to crack down on debt and earn [...]
Continue reading...Debt settlement focus of legislation
2. May 2010
The recession and reliance on credit cards may have left many consumers in the hole when it comes to debt.<"http://www.creditloan.com/blog/?ak_action=api_record_view&id=5508&type=feed" alt=""
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29. May 2010
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