Ten Mistakes Financially Stable Consumers Make Which Can Lead to Bankruptcy
The common misconception of the debtor in bankruptcy is an individual who was reckless in borrowing, and irresponsible in paying back their debts. While mismanagement and over-extension are present as causes in some bankruptcy cases, even the most well-intentioned consumers who have built up their credit and amassed a tidy savings can still wind up […]
Finance & Credit Trends to Avoid in 2018
At the beginning of the most recent century, both lenders and borrowers had developed many bad habits from a toxic combination of unrealistic optimism and immediate gratification. These bad habits led to a dramatic increase in bankruptcy for both individuals and corporations alike. In the years that followed, consumer lending became less available, and with […]
Managing Credit Card Debt After the Holidays: How to Prevent a Bad Situation from Getting Worse
As the holidays approach, household credit card use will increase dramatically as consumers rely on credit for retail purchases, goods, and travel. The good tidings of December do not necessarily have to evolve into the bad tidings of January and February as the bills begin to roll in. But assuming for purposes of this article […]
WRDW News Report: Protecting Yourself From Credit Card Fraud
WRDW News 12/WAGT-NBC Augusta recently sat down with our attorney Zane Leiden to get his expert opinion on the growing epidemic of credit card fraud. With the holidays approaching, the amount of online shopping activity is increasing — and with it, the risk of security breaches and stolen credit card data. What measures should you […]
CREDIT CARD DEBT, BANK REVENUE, RISES TO RECORD HIGHS
According to a New York Times article dated October 20, 2017, four top American banks – Bank of America, Wells Fargo, Chase and Citigroup – made more than $4 billion in income from their credit card divisions between July and September 2017. Unfortunately, this is not necessarily good news, as the Federal Reserve reports that […]
ARE CREDIT CARD COMPANIES REQUIRED BY LAW TO ACCEPT LESS THAN THE AMOUNT OWED?
Lately in Augusta we’ve been hearing radio ads from different companies that advise consumers that there are laws the credit card companies do not want to disclose, that would require credit card companies to accept less than the full balance of the amount that is owed. These programs are touted as an alternative to a […]
Debt Management Plans: When It Makes Sense and When It Doesn’t
Many people who encounter financial hardship and fall behind on their credit card payments may consider a debt management plan. [i] In the standard debt management plan, a third party contacts the credit card companies on behalf of the consumer, and negotiates a reduced monthly payment. The consumer then pays a monthly payment to the […]
Do’s and Don’t’s in Dealing with a Collection Agency
Even the most vigilant, conscientious consumers may have to deal with a collection agency at some point. It could be because a bill was overlooked at some point. It may be because the consumer disputed the debt, and refused to pay the original creditor. Or, it could be because the consumer is a victim of […]
AVOIDING THE POST-HOLIDAY BLUES BY PRUDENT DEBT REPAYMENT
Once the joy and good tidings of the holiday season have subsided, unpleasant reminders begin to appear in the mailbox in the form of higher-than-average credit card bills. Some consumers may be prepared for their credit card statements, while others may be overwhelmed. Either way, it is important to manage the way that the credit […]