Author Archive
Federal Reserve Proposes New Rules For Credit Card Issuers
This past Friday, May 2, 2008, the Federal Reserve Board proposed rules designed to limit unfair practices regarding credit cards and overdraft services. Among other provisions, the rules would protect consumers from unexpected increases in the rate charged on pre-existing credit card balances.
The rules also would prohibit so-called “two-cycle” billing, would require [...]
Your Next Debt Collection Call May Come From India
Just when you thought a debt collector was calling from America, it turns out, that call is more likely than not from India. That is right, you may be getting a telephone call asking you to pay a delinquent bill straight from Gurgaon, India. These bill collectors sit in cubicle farms thousands of miles away, [...]
BlueHippo, Seller Of Computers On TV, Agrees To Pay Consumers
According to the Baltimore Sun, Maryland retailer BlueHippo has reached an agreement with the FTC to pay consumers up to $5 million to settle charges that it improperly took money from customers without providing the promised electronics.
Consumers will receive a claim form from the FTC if they:
Entered into a contract with Blue Hippo before March [...]
Credit Repair Scams: Avoid Bigger Problems Down The Road
Everyone wants to improve their credit score. But when trying to clean up your credit history, traps abound. According to a recent story on CNN.com, the Better Business Bureau is warning that some companies are using the credit crunch to take advantage of consumers who want to clean up their credit. Complaints [...]
State Senator Works To Help Staten Island Residents Save Their Homes
More than 2,000 Staten Islanders are behind on their mortgage payments by at least a month, with some as much as 60 days delinquent and headed down the path toward foreclosure. Now, on February 24, 2008, a unique opportunity is going to allow those people to meet directly with banks to discuss ways to [...]
