Titan Consulting

SEPTEMBER 22, 2020

After years of sparse regulation and oversight that allowed a few unscrupulous companies to unlawfully take money from consumers without helping them achieve debt relief, Congress provided the necessary consumer protections to regulate the debt relief industry. What regulators oversea the debt settlement industry ?

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Credit Corp

OCTOBER 24, 2023

If you’re one of the millions of Americans looking to raise their credit score , you may think not using your credit card will help. After all, many people hurt their credit score by accumulating too much credit card debt. Should You Close a Credit Card You Don’t Use?

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True Accord

AUGUST 11, 2022

Providing consistent outreach—especially in early delinquency—will give customers more opportunities to engage, understand, and resolve debt. Debt levels are on the rise again: according to the? New York Federal Reserve , between the national student loan debt topping $1.6

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Credit Corp

OCTOBER 6, 2023

Auto Loans as Percentage of Consumer Debt As mentioned earlier, buying a vehicle is one of the largest purchases you’ll ever make. Millions of Americans are in debt, and a lot of this comes from auto loans. The average American credit card debt is only 5.8% of consumer debt.

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Collection Industry News

JUNE 29, 2024

Consumer debt continues to accelerate at an alarming rate—particularly credit card debt—driven by a culture of consumption. Credit card debt is one of the most worrisome due to the high interest rates charged by credit card companies, which can leave consumers with never-ending debt loads.

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Better Credit Blog

JANUARY 20, 2022

Negotiate with your creditors to reach settlements and reduce your total debt. Help you come up with a 24- to 48-month debt repayment plan tailored to your budget. In keeping with Federal Trade Commission rules , Freedom Debt Relief doesn’t charge upfront fees. National Debt Relief vs. Freedom Debt Relief.

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Better Credit Blog

APRIL 11, 2022

Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In these situations, debt is considered positive mainly because your financial objective has value and long-term benefits. This list should include any personal loans, mortgages, car leases, and credit card debt.

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Credit Corp

MARCH 30, 2023

The best investments The best investments right now to grow your wealth include: High-yield Savings Accounts Short-term Certificates of Deposit (CDs) Government Bonds Corporate Bonds Real Estate and REITs Individual Stocks Index Funds Exchange-traded Funds (ETFs) Cryptocurrency 1.

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Credit Corp

MAY 1, 2021

Get Your Free Credit Report Card. My Debt-Free Life Started Late in My Adult Life. The average American has about $6,000 in credit card debt , with a large percentage of this amount resulting from accrued interest. You can make significant reductions to your debt using some of the below methods.

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Credit Corp

FEBRUARY 21, 2021

An estimated 15% of American adults who own at least one credit card — roughly 37.2 According to the Federal Trade Commission, Americans reported losing an estimated $1.9 million cases reported were due to credit card fraud, a 72.35% increase in credit card fraud cases from the previous year.

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National Service Bureau

MARCH 29, 2015

in credit card debt from Mrs. Long’s late husband Millard. Typically, surviving family members have no legal obligation to pay the debts of a deceased family member unless they co-signed a loan. The ruling indicated inappropriate tactics amounting to harassment involving the collection of $16,651.52

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Credit Corp

JUNE 1, 2021

Include a line item in the budget for any credit card debt. If your gross monthly income is $5,000, then your debt-to-income ratio would be 49%. Eliminate or Avoid Any Credit Card Debt. Some debt can be considered “healthy” or “productive.” Account for a splurge. Subtract expenses from income.

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Credit Corp

JUNE 5, 2021

Paid off all high-interest credit card debt. ETF – short for exchange-traded funds, these ETFs traded much like stocks and are often passively managed. For this article, I will assume that in your financial plan, you have done all the following: Make and follow a budget. Have a fully-funded emergency fund.

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Better Credit Blog

APRIL 4, 2022

Therefore, you’re in a good position when you tell the debt collector you are aware of The FDCPA and that any violation will be documented and forwarded to the Federal Trade Commission (FTC) as well as the Consumer Financial Protection Bureau (CFPB) and your State Attorney General’s office. Don’t fall for this nonsense.

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Credit Corp

SEPTEMBER 13, 2023

If you don’t have an installment loan reported on your credit reports, consider whether it makes sense to get one. If you are going to borrow anyway—or if you want to consolidate higher-rate credit card debt—a personal installment loan may be helpful here. Apply for a credit card.

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Roths Child Law

APRIL 12, 2021

The better affordability did come with trade-offs, though, she admitted. One of the main problems was the financial crisis, which meant that people lost their jobs, created medial and credit-card debt, faced pay cuts and saw a decline in the value of their homes. She moved to Iowa, where the cost of living was much lower.

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Credit Corp

JULY 12, 2021

The value of a share, known as equity, can fluctuate daily due to active market trading. The stablecoin will trade at a ratio of 1:1 with the dollar, and you can make your exchange at any time. Many people in the United States live paycheck to paycheck and use credit cards to pay for their basic needs.

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Credit Corp

AUGUST 31, 2021

It doesn’t mean you don’t owe the debt if it was legitimate to begin with. It means the creditor or collector can’t use the legal system to force you to make good on the debt. And in any state, a debt collector can’t sue you, threaten to sue you, or harass you over time-barred debt.

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Consumer Financial Services Law

AUGUST 30, 2016

The National Creditors Bar Association (NARCA) is a trade association dedicated to creditors rights attorneys. About the Author: Mark Dobosz currently serves as the Executive Director for NARCA – The National Creditors Bar Association. Mark is a one of NARCA’s speakers on many of the creditor’s rights issues impacting NARCA members.

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Troutman Sanders

OCTOBER 30, 2023

District Court for the Southern District of Texas granted motions filed by three groups of trade association intervenors to extend the court’s existing injunction against the CFPB’s enforcement of its final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule) to cover all small business lenders nationwide.

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Collection Industry News

JANUARY 23, 2023

A default could ruin the country’s trustworthiness, roiling global financial markets, where US debt is heavily traded and has traditionally been viewed as low risk. Getting to that point would be unprecedented, and cause widespread damage to consumer confidence and the economy, which is already in a precarious state.

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Fico Collections

JANUARY 26, 2022

Mix in the fact that many consumers – enabled, in part, by historic levels of savings at least partly driven by government stimulus such as enhanced unemployment benefits – have shifted their focus to paying down their credit card debt, and the result is a greater than 10% decrease in the average credit card balance and utilization of the U.S.

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Collection Industry News

OCTOBER 17, 2023

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Why should we not extend these same protections to veterans and all Americans?”

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Troutman Sanders

MAY 9, 2023

On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt.

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Credit Corp

JUNE 12, 2021

Money is something we choose to trade our life energy for.” – Vicki Robin. These include paying off credit card debts. “At least eighty percent of millionaires are self-made. That is, they started with nothing but ambition and energy, the same way most of us start.” – Brian Tracy. The goal isn’t more money.

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Troutman Sanders

DECEMBER 5, 2022

On November 30, the Federal Trade Commission (FTC) announced that it has temporarily shut down a credit card debt relief program and its affiliated companies that allegedly took millions from consumers by falsely promising to eliminate or substantially reduce their credit card debt.

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Troutman Sanders

JULY 11, 2023

On July 6, the Federal Trade Commission (FTC) announced that, in cooperation with the state of Florida, it will send refunds to consumers nationwide allegedly defrauded by a telemarketing financial services company, and related companies, into paying for credit card interest rate reduction and debt elimination programs.

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Troutman Sanders

OCTOBER 4, 2021

In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability. From a 2019 peak of $926 billion, credit card debt fell to $811 billion by the second quarter of 2020 — the largest six-month decline on record — before reaching $825 billion by the end of the year.

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The Kaplan Group

APRIL 9, 2025

Credit card debt is rising , with revolving credit growing at an 8.2% Credit card interest rates have climbed above 22% , making new debt significantly more expensive. Because of this, a growing number of consumers are reaching for their credit cards not for luxuries, but for basics.

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Troutman Sanders

AUGUST 2, 2021

On July 29, the Federal Trade Commission (FTC) announced that it will send refund checks, totaling nearly $2.3 million, to people who lost money to credit card debt relief schemes. The data provides insights into borrowers’ experiences obtaining residential mortgages. For more information, click here.

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