The Truth of Credit

 Everyday, companies all over the US are appealing to consumers with poor credit histories. They promise, for a fee, to fix up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. In reality this is something that they cannot deliver.  In fact, often after you pay [...]

 On Thursday Congress heard arguments from the Credit Card Industry regarding the Credit Cardholder’s Bill of Rights.  The main issue the industry had was that if they were to pass this bill they would not be able to give out as many loans to higher risk borrowers. Which personally I believe is not a bad [...]

 Complaints about debt collection agencies and their practices are on the rise. The Federal Trade Commission states that the industry is by far the most complained about. And for the past five years, complaints are up about 43 percent according to the Better Business Bureau.
So what gives?
Here are Rick’s reasons behind this:

Collectors ask for money: [...]

 These questions are directly from Debtors Anonymous a non-profit entity that is run under the same principles as Alcoholics Anonymous.  They have a 12 step program that is very similar and has helped people of all faiths, races and organizations.  Most compulsive debtors will answer “yes” to at least eight of the following 15 questions.
1. [...]

Consider this…over 90% of all personal bankruptcies are filed for three reasons: Job loss, divorce, or catastrophic illness. There is no legislation on earth that Congress can pass that can do anything about these life events.  Despite these unfortunate circumstance, I still feel that it was the right move to change the laws making  it [...]