15 May, 2011
The United States has reached its self-imposed debt ceiling of $14.29 billion, Treasury Secretary Timothy Geithner told Congress on Monday. The federal government will have to dip into retirement funds for federal employees just to stay open, Geithner said.
The announcement immediately heightened political tensions in Washington. The Obama administration is urging Congress to increase the debt limit or risk a repeat of the global recession.
“As the recent financial crisis demonstrated, a severe and sudden blow to confidence in the financial markets can spark a panic that threatens the health of our entire global economy and the jobs of millions of Americans,” Geithner wrote in a letter to Sen. Mic
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15 May, 2011
Card Card Companies
It wasnt supposed to be this way. The CARD Act was going to remove temptation from college kids by sweeping banks promotions from campuses, banning freebies, and preventing those younger than 21 years old from making credit card applications without an adult co-signer unless they had their own income.
Credit card companies go back to school
Those should have been valuable protections, but, as The Wall Street Journal revealed May 7, theyre not. Whilst abiding by the strict letter of the law, credit card companies are successfully circumventing all three regulations.
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14 May, 2011
Buy Real Estate
If you’ve priced and marketed your home correctly, you may soon be receiving offers to buy. These offers are generally communicated through real estate agents, though there are times that buyers and sellers may discuss the basic terms of a deal without their agents. This is a rare event however, and agents loathe the thought of buyers and sellers communicating without them in the picture (you may just find that neither of you need a real estate agent!). By law, however, all formal offers must be in writing and agents or their brokers are usually adept at handling this part of the home-buying process.
An offer almost always contains more than just the price the buyer is willing to pay. T
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13 May, 2011
debt relief
With more Americans falling behind on their payments by credit card, credit card companies have to manage the cancellation of debts and credit cards and heavy losses. To minimize their losses and help borrowers, debt relief companies negotiate with financial institutions with the most affordable rates and payment systems, without the consumer having to declare bankruptcy. There should be no place to be upset by the rejection of your proposed amount; you need to consider that creditors want the money, in whatever form and amount rather than lose in bankruptcy.
We all know that to make a payment for each credit card can be difficult for consumers to manage the interest rate for each credit card can vary from another. Read full post…
12 May, 2011
Password Password Manager
By Identity Theft 911
A free service that lets consumers digitally store all their passwords for their various website logins now suspects it was hit by hackers, leaving millions of accounts of all types vulnerable.
Currently, more than 1 million consumers utilize the password manager LastPass, but now the company, fearful that it has been victimized by a targeted hacking scheme, will force its customers to change their master login information, according to a report from The New York Times.
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11 May, 2011
A local Fox affiliate yesterday broadcast an entertaining report that included a list of six purchases generally unwise to charge to your credit cards.
Credit card use that can be dumb
The six were:
- Gambling spreeif you want to go on one, set a limit, take cash and leave your cards at home.
- College tuitionusually a bad idea unless you know you can pay it off quickly.
- Lavish weddingsave up; you dont want to begin your marriage in debt, especially with credit card rates the way they are.
- Plastic surgeryunless your ambition is to make out with a debt collector.
- Tax billsnegotiate a payment plan with the IRS if you cant settle a big tax bill immediately.
- Luxury vacationswill those memories be as sweet when youre sleeping in your car?
Credit card debt and changing times
It wasnt that long ago that charging many of these to your credit cards would have raised few eyebrows.
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