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Card Companies Taking the Ax to Consumers With Good Credit
After some 10 million consumers with poor credit saw their credit lines reduced earlier last year, responsible consumers with good credit are now seeing the same credit card limit reductions as credit...
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5 Consumer Credit Changes to Watch Out For
The credit crisis has taken its toll on many consumers’ immediate ability to borrow and pay down their debt as, over the last year, banks and other lending institutions have slashed credit limits and...
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The Blame Game: Why Bailed Out Banks Still Aren’t Lending
William Spellman, a 44-year-old IT professional from Indianapolis, has come to the realization that the old adage “what goes around, comes around” isn’t true in today’s recession. Spellman has been...
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California Unemployment Rate at Highest Level Since WWII
California’s unemployment rate hit a record 11.2 percent in March, leaving 2.1 million people jobless — the highest level since World War II, according to a report released last week (“State...
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Debt Settlement Companies Taken to Court by Illinois Attorney General
Illinois Attorney General Lisa Madigan has filed lawsuits against two debt settlement companies for allegedly misrepresenting their services to consumers and failing to follow through on their...
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$500,000 Award Against Collections Company One of the Largest Yet
In one of the largest collection awards ever granted by a jury, a California couple has been awarded $500,000 in damages for being harassed and threatened by the debt collection agency Credigy Services...
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Cuomo Targets Practices of 14 Debt Settlement Firms
New York State Attorney General Andrew Cuomo has subpoenaed 14 debt settlement companies and one law firm as part of an investigation into the debt settlement industry, a move that has been labeled a...
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2 Arkansas Women Dodge Credit Repair Fraud Allegations
Two Arkansas women who have been sued for defrauding at least 139 people in a credit-repair scam have refused to respond to a judge’s order to pay $700,000 in penalties and have even started a new...
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Companies Favor Salary Freezes to Avoid Layoffs
Since January, employers have been more likely to scale back employee salaries than to eliminate positions, a recent survey reveals. This shift away from job-cutting could be a sign that the nation’s...
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Felon-Run Debt Collector Shut Down for Bullying Consumers
After being accused by New York Attorney General, Andrew Cuomo, of using illegal scare tactics to “terrify” indebted Americans into repaying their debt, a Buffalo, N.Y., debt collection agency run by...
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