Did you know that today more individuals are turning toward personal bankruptcy as a way of solving their financial hardships? It is true.During the period from 1998 through 2000 there was a decrease in the filings for bankruptcies but that is not how it is now. New estimates say this year nearly 1 in 70 people will file for some sort of bankruptcy protection. Depending on how the sub-prime mortgage fiasco goes that number may go higher.One of...more
Do you know what to do if your credit cards or ATM cards are stolen? You might be surprised at how many people do not.All consumers should know that the Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures if your cards are lost or stolen.In general, here is what you should do:You should report the loss or theft of your credit card or ATM card to the card issuers as soon as possible. This is easy to do as...more
Just like a regular savings account, a money market account is a type of savings account that is offered by banks and credit unions. The main difference is that money market accounts will usually pay higher interest, have higher minimum balance requirements, and often they only allow three to six withdrawals from the account per month. With most market money accounts you are also allowed to write checks on the account.If the account is held in a qualified bank, the money in a money market account is insured by the Federal Deposit Insurance Corporation (FDIC). This means that if the bank or credit union goes out of business your money will be returned to you.With credit unions, your money is insured by the National Credit Union Administration (NCUA), another federal agency that protects consumers from loss.Like a regular savings account, the money that you invest in a money market account earns interest. Interest is the money that the bank or credit union will pay you in order for them to use your money to fund loans to others. In very simple terms the process works like this: You put your money into a money market account. The bank or credit union will pay you a certain amount of...more
Many consumers have found that putting money into CD's (certificate of deposit) accounts is a good way to earn additional interest over regular savings accounts. Just like the regular savings account that most of us are familiar with, money that you put into a CD will earn interest, and usually it will earn more interest than a simple savings...more
Most consumers have heard of Chapter 7 bankruptcy but there is another type known as Chapter 13. This article details some of the differences between the two and how they may affect someone who has to file.There are many differences between Chapter 7 and Chapter 13, but the main difference between Chapter 13 and Chapter 7 is Chapter 13 often allows...more
Most consumers realize that there is a relationship between their debt and their credit reports. The truth is there are several relationships between a consumer's debt and his or her credit reports and ultimately the credit score that is calculated using the credit reports. Knowing more about how these issues relate to each other can be an important part in keeping credit scores high.First, it should be understood that not all debt has to be recorded on credit reports. If, for instance, you borrowed money from a family member or friend and made a private agreement to pay it back, that debt is more than likely not on your report. The same may be true if you pay a merchant on what is commonly known as a tab. Many consumers simply assume that the credit reporting agencies know everything and that is not exactly true.Consumers should understand, however, that the credit reporting agencies do know a lot about your current and past credit. Some might argue that they know too much. A legitimate argument could be made on that front.In general, a credit report will contain information on the debt that you currently owe. This will include your credit card debt, home mortgage debt, personal...more
Credit card debt reduction services are becoming more popular as more people find themselves in financial trouble. Consumers who believe that credit card debt reduction services may be an option for them should first do some homework. Two things are...more
Most people are familiar with the word bankruptcy, but many do not know much about Chapter 7 bankruptcy. This article deals with some of the more common issues associated with this particular form of bankruptcy.First of all, Chapter 7 is the most...more
Debt repair companies can do wonders for some consumers but as with all things associated with money, consumers should be careful before signing up.Consumers should begin by understanding that there are differences between credit counselors and...more
There has been a lot of talk in the news lately about sub-prime mortgages and how they are affecting the housing market as well as some of the other economic sectors. Many consumers may be wondering just what are sub-prime mortgages. It is a fair...more
Internet marketing has come a long way in a short time. With tons of competition just a click away you need to have an Internet marketing strategy that works. Try these 8 tips for successful Internet marketing.1. Get on top of the search heap. ...more
Part of owning a home business is providing customer service to your clients. There is a great deal of information that can be helpful when providing customer service. One issue that should be addressed is managing customer complaints for your home...more