Alarmingly, one in three Americans keep their credit card debt a secret.[1] Concealing one’s debt often leads to further financial strain. Credit card debt won’t go away on its own so consumers that are facing ever-mounting balances need to face the music and act. It may be scary and uncomfortable, but by putting a plan […]
I Worked at Capital One for Five Years. This Is How We Justified Piling Debt on Poor Customers.
The subprime lending giant is a textbook case in creating a corporate culture of denial. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman The first thing you should know about a woman I know, who I’ll call Annie, is that she volunteers to sit at the hospital with people who are going to die […]
Subprime Borrowers Often Lured by High-Fee Credit Cards
UNSOLICITED credit card offers can sound especially appealing to people with blemished credit, or a sparse borrowing history, since they lack alternatives. But cards targeting subprime consumers — those with low credit scores — can get these borrowers into deeper trouble. So-called fee harvester cards offer very low credit limits, but also charge high upfront […]
The Pros and Cons of Avoiding Credit Cards
Millennials are far more likely than older adults to make do without credit cards. More than 60 percent of millennials — defined as those age 18 to 29 — said they did not have a single major credit card, according to a survey published this week by Bankrate.com. In contrast, 35 percent of adults over […]
Credit Card Offers Are Not Always What They Seem
The offers stuffing your mailbox can sound enticing: Transfer a balance from a high-rate credit card to a new card and pay no interest for six months, a year or even longer. If you’ve been struggling to pay off credit card debt, such offers can help you pay off your balance, at no cost, over […]
Class Field Trip Stops at a Local Pawnshop
Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. READING, Ohio — The last time Brian Page had to file the paperwork to evict a tenant from a rental property he and his wife own, he noticed all the check-cashing services and pawn shops on his drive home from the courthouse. A clerk tipped him […]
7 Ways Parents Can Help Children Escape Debt
Like most people, I wasn’t born with a silver or gold spoon in my mouth. And I didn’t get everything I wanted with a “snap of my fingers.” In fact, it was Christmas 1979 that my dad was laid off from his job in the auto industry. He was laid off for seven and half […]
Credit Card Debt and Death
My Dad Passed Away — Does My Mom Have to Pay His Credit Card Debt? “Dear Steve, Dad recently passed away. He had one credit card in his name, with mom as an authorized user. Balance on the card is approx 10K. All assets were put in mom’s name months ago in case she passed […]
Disputing a Charge on Your Credit Card
By RON LIEBER Published: January 25, 2013 in The NY Times If you have ever disputed a charge with your debit or credit card company, you know what a potent weapon this type of complaint can be. The card issuer generally takes your word against the merchant or service provider at the outset, restores […]
